New York Life Insurance Company (“New York Life”) is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, and is one of the most financially strong and highly capitalized insurers in the business. At year end 2013 New York Life had a total surplus of $21.141 billion and holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody’s Aaa ; Standard & Poor’s AA+. (Source: Individual Third Party Ratings Report as of 6/18/14)
Financial strength, integrity and humanity—the values upon which New York Life was founded—have guided the company’s decisions and actions for nearly 170 years.
*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, May 20, 2013. See http://money.cnn.com/magazines/fortune/fortune500/2013/faq/ for methodology
Reporting to a Managing Underwriter, the Senior Specialist, Underwriting is responsible for evaluating life insurance applications with a focus on quality, timeliness and productivity in order to determine whether an application should be approved, declined or if additional information is required. As this is an entry level role, Senior Specialist, Underwriting will receive significant training and oversight from management personnel. Upon completion of training, Senior Specialists are granted increasing authority to issue or decline cases with a 2-Year Total Amount at Risk of $1,000,000 or less that do not include an Attending Physician Statement as part of the application.
Senior Specialist, Underwriting predominantly rely on Underwriting Guidelines to evaluate an applicant’s risk classification; however, due to the complexity associated with multiple conditions or atypical lab results, Senior Specialist may be required to make assessments of applicant risk absent specific direction from the Underwriting Guidelines. Whether synthesizing the mortality risk of medical labs and family history or discounting the mortality risks of highly correlated factors such as motor vehicle reports and avocations, Senior Specialists are expected to evaluate an applicant's overall risk profile, not simply summing the total from individual risk factors. Medical Directors and Managing Underwriters are available for consult as necessary; but Senior Specialists are expected to make a decision recommendation, not open-ended requests for insight.
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