Life Insurance Underwriting Specialist

2 weeks ago

Des Moines Iowa, United States Principal Financial Group Full time
Position Overview:

As a Life Insurance Underwriting Specialist within our Individual Life New Business division, you will play a crucial role in achieving marketing objectives by efficiently issuing life insurance policies in alignment with mortality and morbidity targets.

Key Responsibilities:
  • Assess the anticipated mortality and morbidity of individual life applicants by thoroughly reviewing medical, non-medical, and financial documentation, ensuring accurate risk classification.
  • When functioning in a brokerage agency underwriting capacity, engage in negotiations for policy placements with suitable carriers.
  • Collaborate with sales managers and producers to identify optimal solutions for potential insured clients.
  • Evaluate applicants in accordance with the company's risk assessment standards, particularly for complex cases involving higher face amounts.
  • Utilize sound underwriting judgment to enhance case placement, promote product competitiveness, and meet mortality and morbidity objectives.
  • Foster effective partnerships with producers, field office personnel, and field officers throughout the presale, underwriting, and policy issuance processes.
  • Proactively identify and resolve case-related issues while maintaining strong relationships with stakeholders.
  • Educate producers and field managers about the underwriting process and promote underwriting expertise.
  • Mentor and guide less experienced underwriters through formal coaching relationships.
  • Perform administrative tasks to expedite case processing and ensure compliance with evolving federal and state regulations.
  • Lead underwriting initiatives that enhance the company's competitive edge and maintain its status as a leader in risk classification.

Qualifications:
  • A college degree with a minimum of 6 years of underwriting experience, including advanced knowledge of multi-life insurance and financial documentation.
  • Approval authority for underwriting decisions up to $2 million.
  • Ability to navigate complex business needs and unusual case circumstances effectively.
  • Strong leadership qualities and adaptability in a dynamic work environment.
  • Progress towards professional designations such as FALU, FLMI, and CLU is encouraged.

Compensation and Benefits:

Salary ranges reflect targeted base salaries, with non-sales positions eligible for a bonus program. Sales roles may qualify for additional incentives based on individual performance.

Flexible Time Off (FTO) is available for salaried employees, allowing for paid time away from work without a set number of days.

This position offers various work arrangements, including in-office, hybrid, and remote options.


Company Overview:

At Principal Financial Group, we are committed to fostering an inclusive environment where financial security is accessible to all. Our success is driven by the diverse experiences and talents of our employees.

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