Hot Jobs in the Life Insurance Settlement Industry

Working in a $100 billion industry brings significant advantages. Whether you are new to the workforce or an experienced professional, these hot jobs can ease your transition into the growing life insurance settlement market.

Life Underwriters

Junior and senior life underwriters evaluate insurance policies to determine whether they would be a good fit for investors. Underwriters look at several factors, including the age and health status of the insured, the face value and characteristics of the policy, the expense of future policy premiums and the legal requirements of operating in a particular state. An underwriter may also be asked to establish the life expectancy for an insured, a figure that ultimately impacts the pricing and return of any investment. 

Life settlement companies and investment firms look for candidates with strong analytical skills, investigative abilities and communication patterns. Most prefer college graduates with previous experience in a related field. A CLU, FLMI or FALU designation is a plus.

Actuarial Analyst

Actuaries help managers make informed decisions about buying and selling life settlements. They build models for managing investment risks, forecasting cash flows and balancing assets with liabilities. Settlement companies count on actuarial analysts so that they do not overpay for a book of life policies, do not overpromise maturity values and do not send out more money in premiums than they collect. The actuary may work directly for the life settlement company or as an independent contractor to the firm.

Most people working in the actuarial field hold bachelor's degrees in statistics, mathematics, economics or actuarial science. They must be proficient with Microsoft Excel and familiar with actuarial software systems, such as MG-ALFA or Polysystems. Many employers require Fellowship in the Society of Actuaries before or after hiring.

Settlement Investment Agents

Agents control the flow of new business in either the policy sales or the investments sector. In life insurance sales, the agents help seniors understand the pros and cons of transferring policy ownership. They must be able to explain complex ideas in a way that is not misleading. For investment sales, agents promote the low risks and stable returns of senior settlements to potential investors. 

In either case, these men and women must demonstrate strong interpersonal, organizational and time-management skills. They must be self-motivated with a well-defined moral compass. Many agents travel extensively to homes, businesses and networking/marketing events. Many work on commission. An active license, or the willingness to obtain one upon hiring, is a must.

Support Staff

Working in the life settlement industry does not necessarily mean analyzing policies, building portfolios or talking to folks at the front line. The industry employs a number of professionals who support the organization's financial goals. In this context, support staff includes information technology workers, human resources managers, bookkeepers and accountants, customer service representatives, administrative assistants, facilities managers, security guards and others. Education and work experience requirements vary with the position and employer. No matter which hot job you choose, you will certainly reap the benefits of working in the life settlement industry.

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