Recognition validates growth and customer experience strategy 

 ALEXANDRIA, VA. 5Star Life Insurance Company (5Star Life) has been awarded on the Forbes list of World’s Best Insurance Companies 2023. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list can be viewed on the Forbes website. 

 “Forbes’ recognition validates our years-long strategy focused on growth and on delivering the best customer service experience,” said General Larry O. Spencer, USAF (Ret.) President of 5Star Life. “We are thankful to the customers who helped put 5Star Life on the list and to the dedicated employees who have worked hard to bring about this award.” 

World’s Best Insurance Companies 2023 were determined based on an independent survey from a vast sample of over 30,000 consumers in 15 different countries. The survey considered customers’ overall recommendation, their general satisfaction, their loyalty, and the five subdimensions: Advice, Customer Service, Price-Performance, Transparency and Damage/Benefit Service. 

Based on the results of the study, 5Star Life is ecstatic to be recognized on the Forbes list of World’s Best Insurance Companies 2023. 

 “We are honored to be recognized by Forbes,” said Kimberley E. Wooding, Executive Vice President and Chief Financial Officer of 5Star Life. “It is a tribute to the deployment of efforts to our long-term strategic plan and our team’s unrelenting focus on profitable growth and commitment to providing a best-in-class consumer experience for our brokers, employers, and individual policyholders.” 

About 5Star Life  

5Star Life Insurance Company (5Star Life) is the life insurance underwriter of the Armed Forces Benefit Association (AFBA) member benefits and a growing provider of group and worksite voluntary insurance products. Its business model enables 5Star Life to serve the needs of a diverse clientele as an insurance provider to individuals and organizations and as a trusted partner to brokers. Headquartered in Alexandria, VA, 5Star Life is currently licensed in 49 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam.  


New look, same mission
Welcome to the new 5Star Life website! Our overarching goal was to improve your experience, and as you peruse through the site, you will notice many changes: new content, intuitive navigation, and an enhanced support section.

Throughout this project, one thing has not changed: our mission. 5Star Life is proud of our unique dual purpose. First, we promote the Armed Forces Benefit Association’s (AFBA) mission by underwriting its members’ benefits protecting those who serve, defend, and protect our country – military, National Guard, first responders, government employees and contractors. In parallel to that noble purpose, we serve strategically aligned markets – delivering benefits for those who keep our communities running and thriving.

Founded in 1996 to provide coverage tailored to the unique needs of service life, I encourage you to review the timeline below showing our growth and evolution in the employer group and worksite benefits markets. Today, 5Star Life enjoys financial strength and stability ensuring we’ll be here with our customers need us.

General Larry Spencer, USAF (Ret.)
Chair and President, 5Star Life Insurance Company