Jennifer R. Barry
Policy Administrator & Case Designer
“Quality is never an accident. It is always the result of an intelligent effort.”
– John Ruskin
Jennifer joined the Gateway Financial team in 2016. As Policy Administrator and Case Designer, her primary responsibility is to assist the Director of Client Services in selecting the most competitive and suitable life insurance products for Gateway’s clients and after a policy is issued, to calendar, track, supervise and process the policy’s servicing events for the client’s lifetime. In her role, Jennifer:
- Identifies the risks inherent in each life insurance product as they are introduced by an insurance carrier and stress‐tests those risks by generating and comparing insurance illustrations to determine the effect on policy performance.
- Compares the product performance of the various life insurance products in the marketplace on a risk‐neutral and objective basis to identify and categorize the most competitive products available based on the client’s preliminary underwriting offers, risk tolerance and funding objectives.
- Spreadsheets, ranks and summarizes a short‐list of viable products, their premium cost, their death benefit rate of return at the client’s life expectancy and the carrier’s preliminary underwriting offer and Comdex (financial strength) rating for presentation to the client and their professional advisor team.
- Assists team members in drafting and assembling Policy Documentation Packages once the policy acquisition process has been completed. This package is provided to clients and their advisors after a policy is issued. This package includes: 1) an overview of the purpose of the coverage; 2) An explanation of how the insurance product works; 3) “as issued” policy projections at various assumed cash value rates/dividend scales; 4) an explanatory summary of those projections; 5) a one‐page policy summary that lists the policy number, insurance carrier, insured, billing address, policy death benefit, premium, premium mode, premium payment window, policy owner, beneficiary, premium payor, policy date, etc.; 6) the policy itself; 7) copies of agreements pertaining to the policy (e.g. a trust agreement, premium financing materials, etc.); and, 8) a carrier financial‐rating report.
- Updates Gateway’s data base with client and policy information and calendars policy service events to ensure that client policies are monitored and serviced on a pro‐active basis.
- Generates policy‐service tracking reports and assists the Director of Client Services in providing post‐issue, proactive policy service to Gateway’s clients, including policy performance benchmark reports, premium reminders and gift tax and income tax reportable income reports.
- Attends industry conferences and insurance carrier seminars for continuing education purposes as well as for developing strong relationships with carrier personnel to provide exceptional service to clients.
Jennifer resides in Butler, PA. During the summer months she enjoys water skiing and all things outdoors. Her love of sports has induced her to stay active in volleyball as both a player and coach, as well as continue to participate in occasional soccer and basketball games. Fun Fact: Jennifer has a passion for photography that challenges her to see things in a different light.
Education & Affiliations:
- Edinboro University of Pennsylvania, Bachelor of Science in Mathematics with a concentration in Actuarial Science
- Butler County Community College, Associate of Applied Science in Photography
- Fellow of the Society of Actuaries (FSA) Designation, currently pursuing