Howdy susis61,
I suspect you missed a number in the address of Starmount
Life Insurance.
Here is their contact information, in case you need it,
from their website's contact page.
http://www.starmountlife.com/pad-site/ogb/contactus.htm
Starmount Life Insurance Company
The Starmount Building
7800 Office Park Blvd.
[Baton Rouge, Louisiana]
888-729-5433
In Baton Rouge - 926-2888
Some background information from their "about" page.
http://www.starmountlife.com/pad-site/ogb/aboutstarmount.htm
"The A.M. Best Company rates Starmount "B+" or "Very Good".
We have been in the insurance industry since 1976, starting
this company in 1983.
...
Now, the Sternberg family, Starmount’s principal owner, after
being in retailing since the 1700’s, continues its 200-year
reputation for reliability ..."
One of the critical pieces of information above is their
A.M. Best Company rating.
From the A.M. Best website.
http://www.ambest.com/about/
"A.M. Best Company, The Insurance Information Source, offers
omprehensive data to insurance professionals. Founded in 1899
by Alfred M. Best, A.M. Best is the world's oldest and most
authoritative source of insurance company ratings and
information. Its Best's Ratings are the industry's standard
measure of insurer financial performance."
So, what does Starmount's "B+" A.M. Best rating mean?
http://www.ambest.com/ratings/guide.html
"A Best's Financial Strength Rating (FSR) is an opinion of an
insurer's ability to meet its obligations to policyholders.
Rating Modifiers and Affiliation Codes may also be associated
with these ratings. The following list outlines our rating
scale and associated descriptions.
...
B++, B+ (Very Good)"
So, A.M. Best, the leading rater of insurance companies,
likes them just fine.
How about the Better Business Bureau (BBB), one of the
first places that people will file a complaint?
http://www.bbb.org/about/faq.asp#faq1
"The BBB's value to the business community is based on our
neutrality. The purpose of the BBB system is not to act as
an advocate for businesses or consumers, but to act as a
mutually trusted intermediary to resolve disputes, to
facilitate communication, and to provide information on
ethical business practices. Businesses have supported the
BBB for over 80 years because an ethical marketplace is
in everyone's best interest."
Starmount happens to be a BBB member, and if there were
any complaints to the BBB about them, the BBB takes them
to task.
http://www.bbb.org/about/faq.asp#faq4
"BBB members agree to respond to consumer complaints presented
by the BBB, and lose their membership if they do not."
Here is the specific BBB page on Starmount.
http://www.batonrouge.bbb.org/common.html?location=/home/common/www/mis67/report.php&bureau=bat&compid=24005466
"Based on BBB files, this company has a satisfactory record
with the Bureau. Any complaints processed by the Bureau in
its three-year reporting period have been resolved. The
number and type of complaints are not unusual for a company
in this industry.
To have a "Satisfactory Record" with the Bureau, a company
must be in business for at least 12 months, properly and
promptly address matters referred to it by the Bureau, and
be free from an unusual volume or pattern of complaints and
law enforcement action involving its marketplace conduct.
In addition, the Bureau must have a clear understanding of
the company's business and no concerns about its industry."
Starmount does business in Texas as well, and has had only
one "justified complaint" from 2001 to the present. Here
is the Texas Department of Insurance (TDI) report on them.
I have edited it down to indicate the date range, type of
complaint, etc. for readability. This web page also has
some financials, etc. that you might find interesting.
http://apps.tdi.state.tx.us/pls/pcci/pcci.page2?EID_IN=94240#COMPLAINTS
Justified Complaints: DEC 31, 2002 - Accident and Health - 1
The TDI defines a justified complaint as:
"Justified Complaints: the number of justified complaints
closed against the company for the line of insurance and year
indicated. A complaint is justified if there is an apparent
violation of a policy provision, contract provision, rule, or
statute, or there is a valid concern that a prudent layperson
would regard as a practice or service that is below customary
business or medical practice."
From the above, it really appears that the Starmount Life
Insurance Company is a legitimate and reputable company.
If you need any clarification, feel free to ask.
Google search on keywords: Starmount insurance complaints OR problems
://www.google.com/search?&q=Starmount+insurance+complaints+OR+problems
Checked Google Groups for complaints with no results.
http://groups.google.com/
Went to the A.M. Best and Better Business Bureau websites.
http://www.ambest.com
http://www.bbb.org
Looking Forward, denco-ga |
