If your life were.
One of the most precious things in the world is time for time is the essence of
life units of time in danger months years are the measure of the lifespan of
every human being. Filer one can predict the lifespan of an individual child
or even that of an elderly grandfather.
Nevertheless the life expectancy of large groups of people can be readily
determined by experts in the life insurance field for example insurance.
Statistics show
that out of ten thousand people of thirty five years of age sixty four hundred
or about sixty four percent can be expected to reach the age of retirement using
facts such as these life insurance companies have issued policies to more than half
our population added up these policies amount to about forty seven hundred dollars
for each American family financial protection is last provided to individuals
desiring security in their later years as well as in cases of emergency
until needed to pay these policy benefits.
Most of the premium dollars paid by policyholders to their insurance companies are
used to finance the expansion of industry incomers the operations of railroads
and other transportation systems the costs of certain local state
and national government activities the development of utilities such as electric
power light and gas companies.
And the construction of multiple housing projects in urban areas
in analyzing the operations of life insurance companies which provide employment
for more than three hundred thousand men and women.
It is apparent that a great variety of talents
and abilities contribute to the process of issuing a policy and keeping
that policy in force until it is paid out to the policy holder
or beneficiary in order to understand the functions of the life insurance home
office
and the study the job opportunities it provides Let's start from the moment the
life insurance agent secure is a written application for life insurance the
application is then mailed to the Home Office of the life insurance company
thousands of such forms from agents
and medical examiners throughout the country are received at the home office
and after sorting
and classifying are delivered to the lay underwriters the job of the lay
underwriter is to determine whether the applicant can qualify for life insurance
the lay underwriters responsibility is great for his decision must be fair.
Both to the applicant and to the company the decision is reached.
Only after careful study of the agents part of the application the medical report
from the local doctor
and perhaps a report from the inspection bureau relative to the financial physical
and moral status of the applicant qualifications for this position include a
thorough knowledge of life insurance finance
and economics ability to understand medical reports
and the knowledge of occupations
and the hazards they may entail working closely with the underwriter is the medical
department staffed with doctors the doctors function in an executive capacity
assisting the lay underwriter in appraising applicants for insurance.
Selecting
and supervising the practicing physicians in the field who examine applicants for
life insurance definite working hours are enjoyed by the Home Office doctor at the
same time he can contribute to medical research through his studies of the trends
in disease
and illness information from medical reports on policyholders is file for future
reference file clerks in this department must be accurate
and diligent in their work for an error in the records could cause serious
complications in either issuing policies
or in paying claims the cost of insurance is determined by experts who plan the
features of all of the life insurance policies the actuaries the job of the actuary
is one of the most important in the life insurance company.
He is to life insurance.
What the engineer is to bridge building the actuary determines the basic facts upon
which the company operates.
He is the mathematical expert who prepares statistics regarding length of life
establishes premium rates computes policy values
and forecast the probable results to be an actuary one should be a college
or university graduate with a major in mathematics
and with better than average ability.
One should also study Law Economics Finance Accounting English composition
and other cultural subjects to achieve professional status.
He must pass a series of eight examinations offered jointly by the two professional
actuarial organizations.
It usually takes from six to nine years of part time study on the job to complete
the series due to the actuary is comprehensive training he is qualified for higher
administrative positions.
Particularly if he shows ambition initiative
and the ability to work with people his duties require frequent consultation with
key. Executives such as the president and treasurer of the company.
The president is in close contact with the Treasurer who plans the financial
policies of the company
and supervises all funds among the personnel in the Treasury Department are the
cashiers in charge of all cash transactions incoming as well as outgoing
then there are the controllers accountants
and auditors who supervise the general books
and records of the company the manual labor is greatly reduced by bookkeeping
machines tabulating machines automatic check writers address the graphs
and many others the Treasury Department may also be responsible for wise
investment of company funds this function is directed by experienced financial
advisors including mortgage experts real estate appraisers
and securities analysts all legal problems in connection with life insurance
company operations are usually managed by a staff of professionally qualified
lawyers they guide the company through the various complexities of legal matters
supervise the writing of policy contracts and advise agents
and field representatives on issues
that may affect the interests of policyholders
and company alike the claims department is responsible for paying the
beneficiary the amount due on the death of the insured.
There are no schools
or colleges to instruct in claims examining experience alone is the only teacher
and as in most careers in life insurance the real training begins on the job after
you get started with a company for this reason many who plan on life insurance
careers can find initial openings as clerks stenographers machine operators
or file clerks in the home office
and work up to higher paying positions of greater responsibility.
Special skills required for these jobs are typing to handle the heavy Home Office
correspondence shorthand to take dictation or the ability to operate a stenotype
or transcribing machine in order to take dictation at high speed
mechanical devices are numerous in the home office
and special skills are necessary to operate equipment such as key punching machines
photostat machines tabulators duplicating machines
and postage metering machines young men and women just out of high school
and without special skills are often hired as clerks if they show promise of being
able to advance most life insurance companies make every effort to aid the
advancement of employees educational programs are offered to home office personnel
employees are encouraged to study for self-improvement some work for degrees which
carry professional recognition all may acquire skills
that will aid them to qualify for better positions with the company.
Other benefits generally enjoyed by employees include a five day work week plan
social and recreational activities vacations with pay
and low cost insurance programs combining group life accident and health
and hospitalization the job opportunities are numerous
and there are places for unskilled beginners as well as highly trained technicians
and professional man.
Office working life insurance as a career offers many advantages.
It is a growing business a business founded on a basic need in human nature for
protection and security in life insurance.
You are part of a service that contributes to the welfare of your country
and your fellow citizens. You will find satisfaction and security.
If you select life insurance as your life's work.