Your picture shows the final version of the UAL red-white-blue livery, introduced around 1970 when the 747 first entered service. The 4 stars indicated 4 star (good) service, and UA
747s were Friendships (that was the era when the new jumbos had names, AA
has Astroliners and then Luxury Liners, National had SunKings, Western had SpaceShips, etc). Back then, you were still flying in the friendly skies of United. At the time, many commented that the UA
livery looked too-US government, as if United was owned by the US government, with red/white/blue strips, stars, etc.
This livery did not last long, by 1973 UA
had introduced the blue/red/orange livery with the new United logo (which is very much the same logo as the one still used today.)