Policy Administrator at Homesteaders Life Company

West Des Moines, Iowa, United States -

Full Time

Start Date

Immediate

Expiry Date

02 Sep, 26

Salary

49000.0

Posted On

04 Jun, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Policy Administration, Premium Processing, Account Balancing, LifePro, ACH Transaction Processing, Accounting Principles, Customer Service, Microsoft Excel, Microsoft Outlook, Microsoft Word, Regulatory Compliance, Audit, Financial Communication, Data Entry, Report Analysis, Policy Issuance

Industry

Insurance

Description

Description As a Policy Administrator, you will work to provide written and verbal communication with policy owners, agents and funeral directors. This will include a variety of policy administration processes, receiving and processing premium payments and unpaid checks; performing daily balancing of related premium accounts, receiving and processing policy cancellations, surrenders, maturities, and loans. Additionally, this could include reinstatements, pay-ups, add-ons, payment audits. Your responsibilities will include: Process and apply policy payments in LifePro, ensuring accurate allocation and following up with customers when clarification is needed. Perform daily balancing of assigned accounts to ensure alignment between system records and the general ledger. Research accounting and policy reports to identify discrepancies or stale entries, determine corrective actions, and apply updates accordingly. Handle unpaid checks and EFT returns by analyzing issues, determining next steps, updating systems, and communicating with customers or financial institutions. Review accounting history and conduct audits of premium payments and other transactions to verify accuracy and coordinate any necessary corrections. Process a variety of policy changes, including maturities, loans, duplicates, preneed updates, surrenders, and cancellations. Review and complete additional policy updates such as riders, early pay-ups, and reinstatements, ensuring all requirements and compliance standards are met. Ensure adherence to regulatory guidelines, including Texas Department of Banking requirements, when processing policy and prearrangement changes. Review new business applications and preneed contracts for completeness, resolve issues with agents or funeral homes, and issue policies in LifePro. Communicate with agents, funeral homes, policyholders, and internal teams to gather information, clarify requirements, and provide updates. Maintain and update departmental procedures related to policy accounting and support, ensuring documentation remains accurate and current. Requirements Equivalent to GED and an associate’s degree or two-year equivalent experience in insurance or accounting is preferred. 3+ years in the insurance industry in Policy Administration or Customer Service and communicating with the public. Demonstrated proficiency in Microsoft office products: Excel, Outlook and Word. Knowledge of ACH transaction processing and general principles of accounting systems is preferred. LifePro experience a plus. Completion of LOMA courses in Principles and Operations is a plus. Pay and Benefits Summary: Our benefits include: An excellent schedule – office closes at 1 p.m. every Friday Annual profit sharing 401(k) with company match with discretionary contribution Company-sponsored group medical and dental insurance Company-paid life insurance Company-paid long-term disability Hybrid work environment Paid holidays Generous vacation time and sick leave Paid parental leave Casual dress year-round Professional membership and licensing dues reimbursement Tuition reimbursement About Homesteaders: Homesteaders Life Company, a mutual company owned by its policy holders, is a national leader providing products and services to help people design a better farewell. Founded in 1906, Homesteaders is known for secure preneed funding and innovative solutions that help funeral and end-of-life professionals and consumers connect with each other. We are currently hiring in AL, FL, A, IA, IN, KS, LA, MI, MS, MT, NC, NE, OH, OK, PA, SC, TN, TX, UT, VA, WI, WV. Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.

Responsibilities

Manage policy administration processes including premium payments, account balancing, and processing policy changes such as loans and cancellations. Communicate with policy owners, agents, and funeral directors while ensuring adherence to regulatory guidelines.