Life Insurance Policy Servicing Coordinator

Department: Customer Service

Employment Type: Full-Time, Permanent

Work Location: In-Office (this role is fully on-site; no remote or hybrid option)

Job Summary The Policy Servicing Coordinator is responsible for the day-to-day administration and servicing of in-force insurance policies. This role acts as the primary liaison between clients, advisors, and insurance carriers, ensuring that policy changes, claims, renewals, and correspondence are processed accurately, on time, and in compliance with company and carrier requirements. The ideal candidate is highly organized, detail-oriented, and comfortable managing multiple deadlines and follow-ups simultaneously in a fast-paced, in-office environment.

Key Responsibilities

Policy Documentation & Booklets

- Review each policy on carrier websites to confirm beneficiary designations, ownership, and premium amounts are accurate.
- Provide in-force illustrations, Adjusted Cost Basis (ACB), and Cash Surrender Value (CSV) information.

Beneficiary Designations & Ownership Changes

- Prepare and send beneficiary designation forms to clients; forward signed forms to insurance companies.
- Update internal systems and client booklets to reflect beneficiary changes.
- Prepare transfer of ownership forms and send to clients; forward completed/signed forms to carriers for processing.
- Confirm taxable disposition implications with insurance companies prior to processing ownership changes.

Premium & Billing Administration

- Confirm premium amount changes with insurance companies for premium mode changes.
- Prepare and submit Pre-Authorized Chequing (PAC)



forms to clients; forward signed forms to carriers for processing.

Policy Assignments & Administrative Changes

- Process policy assignments and releases of assignment; submit documentation to carriers and update internal systems.
- Process client name changes resulting from marriage or amalgamation.
- Process advisor change requests with relevant carriers and register changes in internal systems once completed.

Renewals & Follow-Up

- Prepare and distribute holding reports with upcoming renewals to the team and management.
- Track renewal dates and follow up with the team.
- Monitor renewal premiums to prevent processing of unnecessarily high premiums, and coordinate switching to annual premium mode where appropriate.

Claims Processing

- Death Claims: Notify the insurance company, send required forms to beneficiaries, forward completed documentation to the carrier, and issue closure correspondence once the claim cheque is received.
- Critical Illness Claims: Notify the insurance company, send forms to the client, forward signed forms, follow up with the carrier, and close the file upon completion.
- Disability Claims: Notify the insurance company, send forms to the client, forward signed forms, follow up with the carrier, and close the file upon completion.
- Conversion Requests: Send conversion paperwork to clients and carriers, follow up on status,



and prepare closure letters once processed.

Mail, Correspondence & Reporting

- Manage incoming mail from insurance companies, including annual statements and unpaid premium notices.
- File relevant documentation and follow up with clients as needed.
- Prepare monthly reports of accumulated values for designated policies as required by management/clients.
- Maintain consistent, proactive follow-up on all outstanding items (address changes, premium mode changes, pending forms, etc.) to ensure timely resolution.

Qualifications & Skills

- Prior experience in life insurance administration, policy servicing, or a similar customer service role within financial services is strongly preferred.
- Strong knowledge of insurance concepts such as beneficiary designations, ownership transfers, ACB/CSV, and claims processes.
- Excellent organizational skills with the ability to manage multiple files, deadlines, and follow-ups simultaneously.
- High attention to detail and accuracy, particularly when handling client and policy data.
- Strong written and verbal communication skills for interacting with clients, advisors, and insurance carriers.
- Proficiency with Microsoft Office and policy administration/CRM systems.
- Ability to work independently and collaboratively within a team-based, in-office setting.

Work Environment This is a fully in-office position. The successful candidate will be required to work on-site at our office during regular business hours; this role does not offer remote or hybrid work arrangements.

Pay: $40,000.00-$70,000.00 per year

Work Location: In person

📌 Life Insurance Policy Service (North York)
🏢 Al G. Brown u0026 Associates
📍 North York