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5Star

5Star Life Insurance Company was founded in 1996 and currently insures more than 800,000 customers. It is a related enterprise of the Armed Forces Benefit Association. The company takes pride in the fact that it is a niche marketer of specialized insurance plans sold by independently contracted brokers. The company’s Silver Premium Choice plans offer burial insurance with payouts ranging from $5,000 to $25,000. No medical exams are required, and 5Star guarantees no premium increases or payout reductions over the life of the plan. You may apply between the ages of 50 and 85. Coverage lasts until your death or age 121.

Do I have to use burial insurance benefits on funeral expenses?

After the policyholder of a burial or final expense insurance plan dies, the policy beneficiary may use the money in any way they see fit. Many beneficiaries choose to use the death payout to cover all or part of their loved one’s burial expenses. These expenses currently average around $10,000 in the United States. Burial expense payouts do not have to be used for burial expenses. They may be used for any expense, bill, purchase, loan, or debt at the discretion of the beneficiary.

How do you apply for burial insurance?

The easiest and fastest way to submit an application for burial insurance is online. You’ll need to choose an insurance company, click on the portion of its website that lists final expense plans, and create an account. This usually involves providing personal contact information as well as filling out a form relating to your medical health and history. In some cases, the company will want to know about your family’s medical history as well. This helps determine which insurance you qualify for in addition to your premium payment rates. If you’d prefer to talk to a live representative of your chosen insurance company, you may call or visit the company if they have a local office. Licensed insurance agents will assist you in selecting the most appropriate final expense policy for your needs and budget.

Do burial insurance premiums change?

Most burial insurance plans offer guaranteed premiums. This means that your monthly or annual payments will never change over the life of the policy, provided that you pay them on time and in full. Your payments are determined by your age, your sex, your location,and any health issues you may have. Once you have accepted an insurance plan, your premiums will not change even if your health condition worsens.

How to get started

If you are already a 5Star Life insurance customer, you should contact your local office and inquire about a final expense policy. If you are a prospective customer, you can connect with an agent by using the phone number listed at the end of this document. You may also shop for policies using our comparison tool by clicking on the following link.

Financial Strength Ratings

AM Best – A-, Negative outlook
Moody’s – No rating
Standard & Poor – No rating

Company contact info

5Star Life Insurance Company
(800) 776-2322