5-Star policy rescinded after 5 months

[WinoBlues]

Re: WTF 5-Star?

I have helped rescind a couple policies where the policies were never delivered.

I must live a sheltered life. I have never had one personally. Nor a claim denied.

 

[RonRoberts]

Re: WTF 5-Star?

Since 5-Star uses a third party underwriter could it possibly be due to someone in house with 5-Star reviewed the app and determined that it should have been declined or EMSI missed something?

 

[Todd King]

Re: WTF 5-Star?

Since 5-Star uses a third party underwriter could it possibly be due to someone in house with 5-Star reviewed the app and determined that it should have been declined or EMSI missed something?

Yeah, but 5 months later?

 

[Iwillpay]

Re: WTF 5-Star?

So I just walked in the door to a letter from 5-Star, saying they have rescinded a policy I put into force 5 months ago, due to a "MIB follow-up coded report that conflicts with the answers you provided us."

No explanation specifically was given as to WHY the policy was rescinded.

I don't like this one bit.

Nothing wrong with this. They have two years to make any adjustments. Better now than in the 23rd month when a claim arise and the claim is denied.

 

[b61mack]

Re: WTF 5-Star?

They may review a percentage of policies. Most likely the company called to do a review. And recieved conflicting answers.

 

[Newby]

We'll find out today but I don't think 5-Star is going around rechecking already issued applications 5-months in unless something was brought to their attention by someone. They are way too busy keeping up with their current flow.

Could have been another agent like I said. Another way it happens with me is that people often bring policies they bought into the funeral home to get a 2nd opinion. When I review them there (I'm also a licensed funeral director) I will look for things that would be contestible in the 1st 24-months and make an issue of it if there is no way the policy was underwritten correctly and they would fit fine elsewhere.

 

[davisgroup]

Re: WTF 5-Star?

This happened to me with 5 Star just this week, and prompted my earlier thread, M.I.B. My app was four months old when 5 Star closed it out based upon MIB coded report. No more info could be provided to me. I met with my client yesterday and we went through each health question in detail. I believe he answered the questions honestly. Instead of putting up a fight, I just wrote him up with Am. Cont.

 

[Rearden]

Re: WTF 5-Star?

Waited 20 minutes on hold with Agent Services to no avail.

Will waste more of my valuable time later calling them.

I'm not writing anything with them until they fix this problem.

 

[Mattschmidt]

Re: WTF 5-Star?

Waited 20 minutes on hold with Agent Services to no avail.

Will waste more of my valuable time later calling them.

I'm not writing anything with them until they fix this problem.

Rearden, try reaching Michelle...here is her contact info.

Michelle L. Carney (DiFedele)
Business Insurance Administrator
5Star Life Insurance Company
866.465.0647 Opt 1
703.549.4455 Ext 2450
Fax: 703.549.3410
Email: [email protected]

 

[gordon112]

Re: WTF 5-Star?

This is the problem with 5star not having an RX check and then doing UW later after it has been issued.


NO thanks. However, this isn't the only company that does this.