5 Star Final Expense

[jdeasy]

It seems that RNA's plan to make some changes and raise rates is not something people like to talk about regarding the Queen of final expense. Will higher rates dethrone her?

I would love to talk about but I can't anyone to say anything that's not crytic. Was going to be an increase in the last quarter now looks to be June or July. I've heard anywhere from 2% to 15% and everywhere in bewteen. I've also heard of app changes and also that there will be no app changes.

But, yes, higher rates will kill them. They are too difficult on too many isses, plus beting a fraternal, to not be among the best rates.

That has been explained to them tiome and time again but they turn a deaf ear to those warnings.

 

[TDFnCali]

So what's 5star weakness? Actually I think I know, smokers & ppl on depression meds for less then 3yrs I believe Newby said.

Is there any other type business u wouldnt send their way? Their pricing seems a notch above RNA, so pretty good.....maybe better then RNA after RNA's raise!

 

[jdeasy]

So what's 5star weakness? Actually I think I know, smokers & ppl on depression meds for less then 3yrs I believe Newby said.

Is there any other type business u wouldnt send their way? Their pricing seems a notch above RNA, so pretty good.....maybe better then RNA after RNA's raise!

5 Star is a good company to have. Their weakness is really administration. They couldn't handle the business they got before and now they are getting more and more business.

I tried to get EFES to pick them up but 5 Star didn't want to play in that big of a pond.

 

[rousemark]

5 Star is a good company to have. Their weakness is really administration. They couldn't handle the business they got before and now they are getting more and more business.

I tried to get EFES to pick them up but 5 Star didn't want to play in that big of a pond.

Perhaps they don't reinsure their FE and cannot afford the reserve requirements if they start writing a huge volume of business. I have known companies to scale back for that reason in the past.

 

[WinoBlues]

5 Star is a good company to have. Their weakness is really administration. They couldn't handle the business they got before and now they are getting more and more business.

I tried to get EFES to pick them up but 5 Star didn't want to play in that big of a pond.

For your trash business? Sorry could not help myself.

 

[Newby]

So what's 5star weakness? Actually I think I know, smokers & ppl on depression meds for less then 3yrs I believe Newby said.

Is there any other type business u wouldnt send their way? Their pricing seems a notch above RNA, so pretty good.....maybe better then RNA after RNA's raise!

The people I put elsewhere are people off the weight charts, COPD if they qualify for full benefit elsewhere, depression meds less than 3-years or bi polar, people under age 50, smokers over age 80, many smokers if a way better rate is available elsewhere, people who have had corrated artery surgery in past 2-years, etc.

 

[WinoBlues]

The people I put elsewhere are people off the weight charts, COPD if they qualify for full benefit elsewhere, depression meds less than 3-years or bi polar, people under age 50, smokers over age 80, many smokers if a way better rate is available elsewhere, people who have had corrated artery surgery in past 2-years, etc.

Hey Newby, As it looks like 5Star is getting a lot of play here and there are a lot of questions. Would you mind doing a Pros and Cons post.

Thanks, Lee

 

[jdeasy]

For your trash business? Sorry could not help myself.

You went over my head with that one. I haven't said anything about trash business with them.

 

[WinoBlues]

They do not check prescriptions. So send them all your trash business...

You went over my head with that one. I haven't said anything about trash business with them.

I was trying to make a joke relating to Hoosierdaddy's post.

Hoosierdaddy - "They do not check prescriptions. So send them all your trash business... "

 

[jdeasy]

I was trying to make a joke relating to Hoosierdaddy's post.

Hoosierdaddy - "They do not check prescriptions. So send them all your trash business... "

Hoosierdady is not the boss of me! No, wait a minute, he is!