Quick Summary: A unique product that gives approval based only on 7 questions and no further underwriting. Premiums can seem high initially but are guaranteed level all the way to age 100. Maximum coverage of $50,000 may be low for some.
Skip the Exam
See our in-depth guide about life insurance without the medical exam. Compare more than 20 of the top companies and policies. Find out which is right for you today.
In business since 1996, 5 Star is a newer kid on the block compared to many companies. But don't think for a minute this means they don't know what they are doing.
Their parent company, AFBA, was originally founded in 1947 with a focus on assisting members of the military and their families. Today, 5 Star has over $40 billion in active policies, insuring 800,000 + lives.
Well known rating agency AM Best assigns 5 Star an "A-" which is considered very strong while exceeding industry standards for important financial benchmarks related to security.
About the Policy
Family Protection Plan
$10,000 to $50,000
18 to 70
Term to age 100
Family Protection Plan
$10,000 to $100,000
18 to 70
Term to age 100
5 Star has a very simple and fast underwriting process. You must answer "NO" to 7 questions. These are "knock out" questions meaning that just 1 "YES" and you cannot qualify.
There is no additional underwriting. No electronic database checks, no medical records review, nothing else.
- Has applicant ever applied for and been rejected for life insurance?
- Has applicant been hospitalized in the past 90 days?
- Has applicant been diagnosed or treated by a member of the medical profession or tested positive for: Human Immunodeficiency Virus (HIV), Acquired Immune Deficiency Syndrome (AIDS), or AIDS Related Complex (Arc)?
In the past 5 years, has applicant been hospitalized for, been diagnosed or treated by a member of the medical profession or taken prescription medication for:
- Angina, heart attack, stroke, heart bypass surgery, angioplasty, coronary artery stenting, or coronary artery disease?
- Any form of cancer to include leukemia or Hodgkin's Disease, (excluding non-invasive, non-melanoma skin cancer)
- Alcoholism or drug or alcohol abuse, cirrhosis of the liver, hepatitis, or any other diseases of the liver.
- Chronic obstructive pulmonary disease (COPD), emphysema, or any other chronic respiratory disorder, excluding asthma.
You will of course also be asked the standard questions about your age, gender, height, and weight.
Since there is no additional underwriting, your policy is approved immediately with 5 Star. The simplicity and speed make this process the easiest among no exam carriers.
Simple application and underwriting.
Approval decision right away.
Rates are fixed all the way to age 100. The rate you pay in month #1 is the same as 30 years later.
Smokers do not pay higher rates, same as non-smokers.
Premiums are higher during first years than other carriers, especially on shorter terms.
Maximum death benefit is $50,000.
Riders and Policy Options
5 Star includes the Terminal Illness Rider automatically. The insured may take up to 30% of the death benefit while living. In order to take this early payout, there must be a diagnosis of a terminal condition with less than 12 months to live expected.
For an added cost you may add a couple more riders to your Family Protection Plan.
- Spousal Coverage
- Child and Grandchild coverage
This policy does NOT have a conversion option to permanent insurance. However, since it's guaranteed to age 100, it's sort of a hybrid policy. If you want, you are covered up to 100 and never have to do additional underwriting.
5 Star's cost structure is different from most companies. There is only 1 rate for each age, they don't assign health classes or differentiate between smokers and non-smokers. They also charge the same for men and women.
Price wise, it's going to be more expensive than others, at least initially and on shorter terms like 10 and 15 years. For 30 year terms, the pricing gets closer. Where you can really benefit with 5 Star is keeping it long term since you are locked in at the same rate all the way to age 100.
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How to Find the Best No Medical Policy
There are more than 20 companies offering life insurance without an exam. 5 Star is very good choice for certain people. Others can do better. It just depends on your needs and health.
How do I know if 5 Star is right for me?
1st off, consider how long you need coverage for. If it's just for a short term of 10 or 15 years, 5 Star will probably be too expensive. If you are in excellent health, it also may not be the best fit since your good health can get you lower rates elsewhere.
There are many factors to consider when choosing a life insurance company and policy. It's important to not skip any of them.
The best way to do this is to work with an independent agency that is:
You're in luck:) We do all the above and more. If you'd like to have a no pressure talk about options, please contact us or fill out the quote request form on this site.
Life insurance rates are fixed by law so there is no additional cost to use our service and expertise. We would be grateful to help you put protection in place for those you love.