Don't Trust 5 Star Approvals

[Indy007]

I know you don't need handholding. Kind of wish I had my FE contracts with them then, but as I understand it they want FT FE agents only. I'm a FT agent, but not just FE. I average 30-50k AP/yr in FE, and the rest is fully underwritten life, med supps and annuities. Only around 1/3 of my income comes from FE sales.

 

[rousemark]

From reading this, I assume the 5 Star POS is not a true Know Before You Go process like Equitable where they give you a policy number if apporved?

 

[jdeasy]

From reading this, I assume the 5 Star POS is not a true Know Before You Go process like Equitable where they give you a policy number if apporved?

It is supposed to be an answer. If not an answer then why ever do one? If that were to happen to me I most likely wouldn't write business with them anymore. I sure would never do another POS interview with them.

As abad as the interviews are anyway, why go through that carp and not get an answer?

----------

I know you don't need handholding. Kind of wish I had my FE contracts with them then, but as I understand it they want FT FE agents only. I'm a FT agent, but not just FE. I average 30-50k AP/yr in FE, and the rest is fully underwritten life, med supps and annuities. Only around 1/3 of my income comes from FE sales.

I don't know about what they want on that. But if you are doing that much FE you would would be one of the higher producing agents. I can't imagine they wouldn't want your business.

 

[mbiallas]

I had something very similar happen a couple weeks ago. We got the approval over the phone and replaced her existing policy and later found out that EMSI came back to 5 Star with a "late MIB hit.". Thankfully my up line got in touch with John Sachs and they got it straightened out. You really need a new up line. Mine went to bat for me and it worked.

 

[VolAgent]

I had something very similar happen a couple weeks ago. We got the approval over the phone and replaced her existing policy and later found out that EMSI came back to 5 Star with a "late MIB hit.". Thankfully my up line got in touch with John Sachs and they got it straightened out. You really need a new up line. Mine went to bat for me and it worked.

Man, that is a recipe for disaster there. You tell them to keep the policy until the new coverage is approved. 5 Star says approved, and then changes their mind. Someone will get burned on that if it goes on long enough.

 

[mbiallas]

Man, that is a recipe for disaster there. You tell them to keep the policy until the new coverage is approved. 5 Star says approved, and then changes their mind. Someone will get burned on that if it goes on long enough.

I agree that this is a huge problem they need to get worked out. Something that jumped out to me is the response we got from 5 Star stating this is "not part of our normal workflow" (referring to EMSI coming back after making a decision). This makes me think the right hand and the left hand are not on the same page.

 

[Todd King]

Might need a different upline? if your uplin can't go to bat for you, that is.QUOTE]

Kind of my sentiment regarding my upline right now. I specifically asked if they had a contact at 5 Star who he could call for me and get the decision reviewed and possibly reversed and was told they couldn't get anything more than I could done. Didn't even call 5 Star and try for me.

I not an agent who needs " handholding" or training. But it'd be nice in cases like this if he would try and help.

I spoke with my upline (forum member), and he said they couldn't get 5 Star to do anything more than I could myself. Told me to call and speak with the underwriter, tried that, but 5 Star wouldn't let me speak with underwriting. Just kept saying the client would have to dispute whatever it is (unknown) with MIB.

I don't need hand holding either but the IMO's words speak louder to the companies that any one voice from an agent.

I can guarantee that Scott and Travis would be on the horn with 5 Star if my case was messed up like your's is.

Okay, I'll out myself. I'm the upline. Some companies, like RNA, will talk at least vaguely with you and give you a clue. Some companies won't. So far, the latter is my experience with 5 Star. It's a violation of HIPPA laws and they won't budge. That's the very reason they won't tell you anything. If Scott can do better, I'll get with him on it, but I'm hedging my bets against it.

 

[mbiallas]

Its not a matter of HIPAA. its a matter of holding them to their accountable and doing what's right. Changing their decision is wrong particularly when their is a replacement. IMO level folks tend to get more attention from the executives than from an individual agent...if not why do we even need you?

 

[Todd King]

Its not a matter of HIPAA. its a matter of holding them to their accountable and doing what's right. Changing their decision is wrong particularly when their is a replacement. IMO level folks tend to get more attention from the executives than from an individual agent...if not why do we even need you?

When the agent called me, he wanted to be able to find out "why" the client was turned down. 5 Star wouldn't tell him because is was a violation of HIPPA laws. That's exactly why they won't tell me either. So yes, it is very much a matter of HIPPA laws.

 

[jdeasy]

When the agent called me, he wanted to be able to find out "why" the client was turned down. 5 Star wouldn't tell him because is was a violation of HIPPA laws. That's exactly why they won't tell me either. So yes, it is very much a matter of HIPPA laws.

To me it's less a matter of why that changing rules in mid stream. If you decline it or change to graded upfront then fine, I can deal with it. But to change a decision once given is way over the line.

As for you being his upline, I didn't know nor care. The story on here was that his upline wasn't even going to make a call. That's unacceptable. Why even have an upline if they are nothing but a contract carrier?