Employee Benefits Designations: The Big Three

As a follow up to last week’s blog on the ten best designations for Property & Casualty professionals to obtain, here are the top three designations for Employee Benefits insurance professionals. 

I can tell you from my 21 years of executive recruiting experience in the insurance industry that these designations will pave the way for you to get that next big promotion and raise, and also make you more attractive to potential new employers if you are considering making a job change. 

Designations also send a powerful message regarding the level of dedication and commitment you have to your insurance career, your client, and the agency where you work.  When I review a resume, the first thing I look for is whether or not the candidate has a designation or two.

If you read my annual salary reports, you will know that insurance professionals with certifications make on average 12% more than those that don’t.

For the employee benefits/group health insurance professional, here are the three most relevant insurance designations s that will set you apart from your peers. 

Here they are:

1. CEBS (Certified Employee Benefit Specialist):  Established in 1976, this elite program is expensive usually costs between $4,000 – $5,000.  It provides a comprehensive understanding in the administration and management of employee/group benefits and retirement planning.  It is designed to help individuals elevate their knowledge base of employee benefit principles and concepts.  It is housed at the University of Pennsylvania Wharton School of Executive Education but can be taken online.  This is the premier designation for employee benefits professionals.  Over 14,000 have received this to date.  There are five distinct parts that are tested.

• RHU: (Registered Health Underwriter): For those interested or involved in underwriting in the group health sector, this is a really good one to get.  It is granted by the American College of Financial Services.  It is a mark of professional excellence in the field of health insurance.  An RHU is typically responsible for analyzing an applicant’s health information and determining if they are eligible for various types of health insurance coverage.  In addition to underwriting, they may also be responsible for setting premiums, reviewing claims, and providing customer service. To achieve the designation, the applicant must complete three basic courses and two electives and pass all eight tests in the curriculum.

• LUTCF: (Life Underwriter Training Council Fellow): For those involved with life insurance and financial services, the LUTCF may be a good choice.  This designation includes three separate courses (each consisting of eight weeks of instruction) that focus on practice management, life & health insurance, annuities, insurance products, investment products including retirement/estate planning, client management, and even some risk management.   There are also instructional materials provided on basic prospecting and sales too.  I would compare this to the CPCU on the property & casualty side of the insurance house. 

Most firms will reimburse you for these expenses so don’t forget to ask to have this benefit included in your compensation package.

Best of luck on super-charging your career and impressing your clients!