Key Responsibilities and Required Skills for Insurance Planner

🎯 Role Definition

The Insurance Planner is a client-facing and analytic role responsible for designing, recommending, and administering insurance and risk transfer solutions tailored to individual and business clients. The role blends technical product knowledge (life, health, disability, property & casualty, annuities), financial planning and risk assessment, regulatory compliance, and relationship management to produce holistic, commercially viable insurance strategies that meet client objectives and company profitability targets.

Key focus areas: policy needs analysis, product selection & customization, premium and underwriting coordination, claims advocacy, compliance and documentation, cross-functional collaboration with sales/advisors/underwriting/actuarial, and ongoing client portfolio reviews.

📈 Career Progression

Typical Career Path

Entry Point From:

Insurance Sales Representative or Product Specialist transitioning into advisory and planning.
Financial Advisor, Paraplanner, or Junior Risk Analyst seeking deeper insurance strategy responsibilities.
Underwriting Assistant or Claims Analyst with client-facing aspirations.

Advancement To:

Senior Insurance Planner / Lead Planner
Wealth & Insurance Solutions Manager
Product Development Manager (Insurance)
Head of Risk Advisory / Director of Insurance Solutions

Lateral Moves:

Corporate Benefits Consultant
Underwriting Specialist or Underwriting Manager
Compliance Officer (Insurance Products)

Core Responsibilities

Primary Functions

Conduct comprehensive client needs assessments by gathering financial statements, goals, risk tolerance, existing insurance coverages, health histories, and estate considerations to create evidence-based insurance strategies that address life, health, disability, long-term care and property exposures.
Develop individualized insurance plans and proposals that combine life insurance, annuities, long-term care, disability, and group benefits, explaining trade-offs between policy types, riders, premiums, tax treatment, and cash-value features.
Prepare detailed, client-ready illustrations and comparative analyses (e.g., term vs. permanent life, universal life vs. whole life, fixed vs. variable annuity) that include projected values, surrender charges, cost of insurance, and sensitivity scenarios.
Work closely with agents, brokers and financial advisors to translate client objectives into underwriter-ready submissions, ensuring timely collection and submission of applications, medical exams, financial documentation and electronic signatures.
Coordinate with underwriting teams to facilitate risk classification, provide additional documentation, and negotiate medical and financial underwriting exceptions to optimize client outcomes and conversion rates.
Calculate premium schedules, payment options, and policy funding strategies, and model the impact of different premium-payment durations, funding sources, and trust or corporate ownership structures.
Advise clients on retirement income design using annuities, life insurance as retirement planning tools, and hybrid products, balancing income guarantees, liquidity needs, inflation protection, and tax considerations.
Design employee benefits and group insurance programs for small to mid-sized employers, including plan benchmarking, vendor selection, enrollment strategy, and renewal negotiations to control cost while maintaining competitive benefits.
Ensure all client recommendations comply with local and federal insurance regulations, product suitability rules, licensing requirements, and internal compliance policies; prepare and maintain audit-ready documentation.
Maintain up-to-date knowledge of insurance product changes, regulatory updates, tax law implications, competitive market offerings, and industry best practices to inform product recommendations and training.
Serve as a technical resource to sales teams and financial advisors by delivering product training, case design workshops, and actionable sales support materials that improve case design and close rates.
Lead periodic portfolio reviews with clients to evaluate policy performance, lapse risk, beneficiary design, and opportunities to optimize or replace coverage based on changing needs, health, or financial conditions.
Manage complex cases involving corporate-owned life insurance (COLI), split-dollar arrangements, buy-sell agreements, key person insurance, and estate liquidity planning, coordinating with legal and tax advisors as needed.
Provide claims advocacy and support, guiding clients through the claims submission process, liaising with claims adjusters, and documenting medical and financial evidence to expedite claim resolution.
Design and document risk mitigation strategies for high-net-worth clients, including asset protection structures, irrevocable life insurance trusts (ILITs), charitable giving vehicles, and policy ownership planning to meet estate and legacy objectives.
Analyze and recommend reinsurance or captive solutions for commercial clients and brokers when risk retention alternatives could reduce cost or improve control over claims.
Create and maintain standardized proposal templates, checklists, underwriting questionnaires, and case tracking spreadsheets to improve operational efficiency and reduce application errors and delays.
Monitor policy illustrations and in-force policy performance for variable products and indexed products, alerting clients to material changes and recommending adjustments when guarantees are threatened or premiums become unsustainable.
Support pricing and product development teams with real-world case data, failure modes, and distribution feedback to refine product features, underwriting guidelines, and pricing algorithms.
Drive client acquisition and retention by participating in client meetings, seminars, workshops, and targeted prospecting campaigns, converting consultative advice into client engagements and new business opportunities.
Prepare clear, persuasive client communications and board-level summaries for corporate clients that outline risk exposures, recommended solutions, cost/benefit analyses, and implementation roadmaps.
Maintain meticulous CRM records of client interactions, policy documents, action items, and renewal triggers to ensure timely follow-up and to support compliance and business analytics.

Secondary Functions

Support ad-hoc reporting and data requests by extracting policy and case metrics from CRM and policy administration systems.
Assist in the creation of marketing collateral, product one-pagers, FAQ documents, and training materials geared to advisors and clients.
Participate in cross-functional project teams (compliance, underwriting, IT, actuarial) to pilot new product rollouts, digital submission flows, and advisor tools.
Contribute to the organization’s sales enablement strategy by providing feedback on lead quality, typical client objections, and successful value propositions.
Mentor junior planners and paraplanners by reviewing case designs, teaching best practices for documentation, and shadowing client conversations.
Participate in industry events and continuing education programs to maintain professional certifications and regulatory licenses.
Conduct periodic quality assurance reviews of submitted cases to identify common submission issues and reduce time-to-issue.
Help triage complex client inquiries escalated from the service team that require technical product expertise or bespoke illustrations.

Required Skills & Competencies

Hard Skills (Technical)

Insurance product expertise across life insurance (term, whole life, universal life), annuities (fixed, indexed, variable), disability and long-term care insurance.
Advanced case design and financial illustration skills using industry tools (e.g., Winflex, iPipeline, Annuity-specific illustration software, Life Insurance illustrations tools).
Strong grasp of underwriting principles, risk classification, medical and financial underwriting requirements, and accelerated underwriting programs.
Familiarity with regulatory and tax implications of insurance products (suitability rules, ERISA, state insurance codes, IRC sections relevant to life insurance and annuities).
Experience preparing employer-sponsored benefits and group insurance proposals, including rate analysis and renewal modeling.
Proficient with CRM systems (Salesforce, Microsoft Dynamics, or industry-specific CRMs) and policy administration platforms.
Ability to read and interpret actuarial tables, mortality/morbidity assumptions, and basic familiarity with pricing constructs.
Financial modeling and Excel proficiency: building premium schedules, present-value calculations, scenario analysis, and sensitivity testing.
Case project management skills: checklist creation, submission tracking, and cross-functional coordination to reduce issue cycle times.
Knowledge of estate planning tools (trusts, ILITs, buy-sell arrangements) and the role of insurance in estate liquidity planning.
Experience with digital application flows, e-signatures, tele-underwriting and other electronic processes that reduce friction in new business.

Soft Skills

Client-focused advisory mindset with the ability to explain complex insurance concepts in plain language and build trust.
Strong analytical problem-solving: synthesize financial and medical information into actionable product recommendations.
Consultative selling and negotiation skills to align insurance solutions with client budgets and objectives.
Excellent written and verbal communication skills for proposals, board presentations, and cross-functional coordination.
Attention to detail and high standards for compliance, documentation and recordkeeping.
Project and time management, capable of managing multiple complex cases concurrently.
Resilience and adaptability in a regulated, changing product and underwriting landscape.
Team collaboration and mentoring orientation to upskill distribution partners and junior staff.
Professionalism and ethical judgment when handling sensitive client health and financial information.
Continuous learning orientation and curiosity about product innovation and market trends.

Education & Experience

Educational Background

Minimum Education:

Bachelor's degree in Finance, Economics, Insurance, Risk Management, Business Administration or related field, or equivalent professional experience and relevant licensing.

Preferred Education:

Advanced degree (MBA, Master's in Risk Management, or Finance) or industry-specific professional certifications (CLU, ChFC, CFP, CIPP, FLMI).

Relevant Fields of Study:

Finance
Insurance & Risk Management
Economics
Actuarial Science
Business Administration
Financial Planning

Experience Requirements

Typical Experience Range:

3–7 years of progressive experience in insurance product design, financial planning, underwriting support, or benefits consulting.

Preferred:

5+ years of direct experience as an insurance planner, paraplanner, or senior advisor supporting complex life, annuity and group cases.
Demonstrated track record of managing high-value cases, coordinating underwriting exceptions, and interacting with advisors, legal and tax professionals.