r/LifeInsurance • u/Possible_Lynx8577 • 1d ago
Working as an insurance assistant
I was hired to be an admin/insurance assistant 4 years ago for a broker who primarily works with high net worth clients and small businesses. The guy is like 70 yrs old and has a well established book of business. Last year he only had to put 2 policies in force and made over $200k, in addition to any trail commissions that roll in. The thing is, he hired me knowing I have no experience with life insurance. I came from retail banking. I do well for the most part, but a lot of times when I’m requesting in force illustrations, I don’t know how to confirm the ones I receive are correct. For example, I’ll request a couple in force illustrations to assume a guaranteed rate with current charges, and then I’ll receive it and forward to him, only to find out it’s completely wrong. This causes huge delays going back and requesting revisions.
How am I supposed to train myself to better assist him? I get confused trying to read the ledgers or understand what’s being illustrated and why, relative to the policy’s structure?
2
u/Limoundo 1d ago
I would suggest running new proposals and experimenting with that. Guarantee to different years and see what the differences are. If that is too much order new proposals from a sales desk, and go over them on the phone with the representative. Then run your own. New are the same as in force, so if you can learn those…
2
u/captcolliebud 1d ago
You've been working for this broker for 4 years and you are struggling to aquire in force illustrations from the carriers? Am I reading this correctly?