Premium Accounting Specialist

at  AAA Life Insurance Company

Overview:
AAA Life Insurance Company is seeking a Premium Accounting Specialist! This individual will perform a variety of activities related to the maintenance of life insurance and/or annuity policies. In addition, they will notify policy owners and agents of any changes/problems/maintenance to policies.

Responsibilities:

• Processes a variety of requests from policy owners including beneficiary changes, ownership changes, policy loans, and withdrawals for Whole Life, Universal Life and Annuity products, surrenders/cancellations for all products. Verifies completeness and accuracy of request, including policy owner’s signature. Contacts agent for conservation of policy. Reviews request for 1035 processing if applicable.
• Assists with responding to a variety of inquiries from Member Service Advocates, agents, policy owners, financial institutions, other departments through work items in the business system, telephone inquiries, and/or email.
• Sets up EFT (electric filing transmit) or credit card account on policy. Reviews and processes “bank return” list and “credit card” declines. Changes/updates records as required.
• Maintain excel spreadsheet for systematic annuity payments.
• Processes travel accident policies due to death from natural causes. Re-issues to spouse where applicable and reviews death claim certificate for cause of death and beneficiary information.
• Reviews additional deposits received on annuity policies in relationship to product and tax guidelines. If denied, refunds payment to owner and communicates with agent.
• Transfers money to another policy where applicable or refunds money as an external rollover to another company when applicable (outgoing 1035 exchange).
• Processes complex annuity beneficiary changes and annuity withdraws within guidelines of contract per product.
• Other duties as assigned.

Qualifications:

• High School degree required; some college coursework preferred.
• Minimum two (2) years’ experience in a customer service environment required.
• At least one (1) year experience in accounting preferred.
• Loma courses 280 & 281 preferred.
• Expanded understanding and knowledge of life insurance company operations, policies and procedures and knowledge of various insurance products.
• Perform accurate mathematical calculations (addition, subtraction, multiplication, and division.)
• Basic accounting experience preferred.
• Prior experience navigating and operating multiple computer applications and telephone technologies desired.

• Processes a variety of requests from policy owners including beneficiary changes, ownership changes, policy loans, and withdrawals for Whole Life, Universal Life and Annuity products, surrenders/cancellations for all products. Verifies completeness and accuracy of request, including policy owner’s signature. Contacts agent for conservation of policy. Reviews request for 1035 processing if applicable.
• Assists with responding to a variety of inquiries from Member Service Advocates, agents, policy owners, financial institutions, other departments through work items in the business system, telephone inquiries, and/or email.
• Sets up EFT (electric filing transmit) or credit card account on policy. Reviews and processes “bank return” list and “credit card” declines. Changes/updates records as required.
• Maintain excel spreadsheet for systematic annuity payments.
• Processes travel accident policies due to death from natural causes. Re-issues to spouse where applicable and reviews death claim certificate for cause of death and beneficiary information.
• Reviews additional deposits received on annuity policies in relationship to product and tax guidelines. If denied, refunds payment to owner and communicates with agent.
• Transfers money to another policy where applicable or refunds money as an external rollover to another company when applicable (outgoing 1035 exchange).
• Processes complex annuity beneficiary changes and annuity withdraws within guidelines of contract per product.
• Other duties as assigned