5 Star Life Insurance Company Term to 100

SamIam

Guru
1000 Post Club
1,237
Question about this product. Looks like underwriting is really easy. My concern is the death benefit is only guaranteed for 10 years. The rep I was speaking to said the odds of the death benefit being reduced is rare because based on the life expectancy would have to decrease on a segment and that hasn't happened. Is that correct and has anybody had any experience working with them. Down Below is what the brochure states:

Family Protection Plan Highlights
The Family Protection Plan offers a
guaranteed level premium to age 100** and a
lump-sum cash benefit if you die before age
100. The death benefit is guaranteed for the
first ten years of coverage and priced so the
death benefit can remain level. The coverage
amount cannot be individually decreased+ on
a particular insured due to a change in age,
health, or employment status.
**
 
I've been getting this pushed on me also. It's a niche company. No height weight table or diabetes questions. Only 7 questions. But it's tough to sell a slightly (?) guaranteed product.
 
We sell a lot of it. Smooth process.

Any specific questions, email me at jeff(@)selltermlife.com as I don't check here often.

There must be a reason for that:
A.M. Best's Consumer Insurance Information Center

A- and negative outlook.

So that's why underwriting is easy and they reserve the right to make cost adjustments to the policy after 10 years.

What? False. This was built on a worksite/group life chassis. That's why coverage amount is based of the performance of the group. Nothing to do with ratings as this product is still pretty new on the individual side.
 
But if you are selling this to someone as a individual which they will allow you how do they determine who they lower coverage on if it's not a group?
 
But if you are selling this to someone as a individual which they will allow you how do they determine who they lower coverage on if it's not a group?

Every individual is signing up as part of the AOBG/Health Depot group. They are running this product for 5 Star. So IF they lower coverage, it's for the entire group.
 
I can't get anyone past the first question. Everyone has been declined before they get to me, at least the ones who can't Sagicor/Phoenix/ANICO.
 
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