WoodmenLife · 2 months ago
Settlement Option Specialist
United States
Full-time
Remote
New Grad, Entry Level
$20/hr - $25/hrWoodmenLife is a not-for-profit life insurance company with over 135 years of service, seeking a Settlement Option Specialist to join their team. In this role, you will analyze and process various types of settlement option claims and contracts, ensuring compliance with state laws and company policies.
FinanceFinancial ServicesInsuranceLife Insurance
Responsibilities
Processes settlement option requests including issuing the contract, complying with certificate provisions, state insurance and tax laws, with an independent approval limit up to $40,000
Processes disbursements with an independent approval limit up to $250,000, notifies contract owner of expired contracts, pays death claims and makes payment to beneficiaries
Sets up claims for certificates that are reaching maturity. Notifies members of options, processes payment election or makes contract changes to the certificate to allow it to remain in effect
Processes interest payments and systematic withdrawals on annuity products. Calculates and processes required minimum distributions for qualified annuities, systematic withdrawals and settlement options for Variable Annuity products
Complies with requests for duplicate checks, corrected tax forms, duplicate annual statements, address changes and banking changes
Processes beneficiary changes in accordance with the Constitution and Laws
Calls funeral homes for information to pay death claims for face amounts of $30,000 or less
Receives notifications of outstanding checks from Auditing and Information Management. Sends written communication to certificate owners as notification of uncashed checks and provides the option of issuing a duplicate check if needed
Works cohesively with all of Core Operations Business Units to ensure that work is completed according to section guidelines
Shares knowledge and/or customer service experiences with the team to help improve the customer experience
Continually reviews and analyzes the workflow to provide efficient service and meet service level goals. Makes recommendations for changes that enhance the process and improve customer service
Adheres to Core Operation’s Behavioral Standards including focusing on solutions, being open to feedback and dialogue, taking initiative, and be involved and accountable
Meets expectations for attendance and punctuality in accordance with the expectations established by your supervisor and WoodmenLife policy
Performs other duties as assigned by management
Ability to work overtime as assigned by management
Qualification
Required
High school diploma or equivalent education/experience
Strong computer skills with typing 40 wpm with emphasis on accuracy
Excellent written and verbal communication skills
Ability to analyze, interpret, and clearly communicate information to others
Self-motivated
Demonstrated problem-solving and decision-making skills
Ability to work with a high level of concentration and attention to detail
Ability to organize and prioritize work in order to effectively meet deadlines
Ability to maintain confidentiality, sensitivity and professionalism
Possesses knowledge of Society products
Possesses in-depth knowledge of policies and procedures for area
Benefits
Health
Dental
Vision
401K
Life insurance
Much more
Company
WoodmenLife
WoodmenLife has been helping to protect the financial future of families like yours, making a difference in hometowns across America.
Founded in 1890
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Patrick Dees
Former CEO - Retired
Recent News
2025-05-08
Company data provided by crunchbase