Your Life Insurance Plan
 
Lousiana Tech University is adding a new Individual Life insurance plan called the Family Protection Plan offered through 5Star Life Insurance Company. Our new plan combined with the Group Term Life plan offers your family more complete protection.

The Family Protection Plan
This insurance is a voluntary benefit being provided through Louisiana Tech University to complement your overall benefit package. Most people are not prepared for the financial devastation that frequently accompanies death or the survival of a critical illness. The Family Protection Plan was developed to provide term life insurance protection and an instant emergency fund if an unexpected critical illness occurs, to age 100.

The Family Protection Plan Covered Chronic Illnesses Ė Quality of Life Rider
More people are suffering from chronic illness than ever before. The Family Protection Plan pays up to 75% of the policy benefit in cash directly to the owner. This rider accelerates a portion of the death benefit on a monthly basis of 4% each month payable directly to you on a tax favored basis. You can receive up to 75% of the current face amount of the life benefit, following a diagnosis of either a chronic illness or cognitive impairment that requires substantial assistance. Benefits are paid for the following:
  • Permanent inability to perform at least two of the six Activities of Daily Living (ADLs) without substantial assistance, or
  • A permanent severe cognitive impairment, such as dementia, Alzheimerís disease and other forms of senility requiring substantial supervision.


  • Terminal Illness Benefit
    This plan pays the insured 30% (25% in Connecticut and Michigan) of the policy coverage amount in a lump sum upon the occurrence of a terminal condition that will result in a limited life span of less than 12 months.

    Rates and Benefit Levels
    Your rates are locked in at your age on your plan effective date and are guaranteed to never increase up to age 100. Your spouse, children, and grandchildren also lock in their rates at their ages on your plan effective date, which also never increase to age 100. You may choose from 5 different benefit levels for adults: $10,000, $25,000, $50,000, $75,000, or $100,000. Benefit levels for children under the age of 24 are $10,000 or $20,000. The $10,000 child benefit costs $4.33 per month per child. The $20,000 benefit costs $8.67 per month per child.

    Important Phone Numbers
    5Star Life Insurance Company
    Customer Service Phone: (866) 863-9753

    Send Claims to:
    5Star Life Administrative Office
    421 South 9th Street, Suite 222
    Lincoln, NE 68508

    Website: http://www.5starima.com


    Plan Highlights
    Term Insurance to Age 100: Offers a guaranteed level premium to age 100 and a guaranteed level death benefit for the first 10 years. After 10 years the death benefit is projected to remain level to age 100 and we do not anticipate a reduction in the future. The coverage amount cannot be individually decreased on a particular insured due to a change in age, health, or employment status.

    Portability: You and your family continue coverage with no loss of benefits or increase of cost should you terminate employment after the first premium is paid, in which case the insurance company will simply bill you directly. Coverage can never be cancelled by the insurance company or your employer unless you stop paying premiums.

    Family Protection: Individual policies can be purchased on the employee, your spouse, children, and grandchildren.

    Easy Application Process: This insurance does not require a medical exam or blood profile. Eligibility for coverage is based on a few simple health questions on the application.

    Emergency Burial Benefit: Within 24 hours after receiving notice of an insuredís death, an emergency burial benefit of the lesser of 50% of the coverage amount, or $15,000 will be paid to the insuredís beneficiary, unless the death is within the two-year contestability period and/or under investigation. This product also contains no war or terrorism exclusions.

    Contact Us

    Customer service is important to us. If you have any questions or need additional information please feel free to contact us.

    Benefits Administrator
    Taryn Soignier
    Louisiana Tech University
    Keeny Hall
    Ruston, LA 71272
    (318) 257-2235

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    Danny Coffman
    Achieve Financial Group
    124 Rim Rock Road
    Aledo, TX 76008
    (817) 441-5575 fax
    (817) 296-6908 mobile
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