Globe Life Insurance Review – The Need to Know And More

globe life insurance reveiws

So you are trying to get some feedback on Globe Life?  Maybe you’re asking the question… is Globe Life legitimate or not? Your resolve: do some due diligence by finding some Globe Life Insurance reviews.  We’ve got your answers here.

Now, before I get into our Globe Life Insurance review here today, I will put out a “disclaimer” up front. We do not have a business relationship with the Globe Life Insurance Company nor are we a competing life insurance company.  Actually, we are an independent life insurance agency that has access to the top life insurance companies in the industry.  We have the knowledge, credentials and training to sort thru and fairly compare life insurance company and their products. This is not to mention years of real experience working with life insurance consumers.

While there are many Globe Life insurance reviews out there, you can be assured that we have a strong base to assess Globe product offerings versus the competition. 

This posting is simply our review of Globe Life Insurance.

We do have a certain bias that should be disclosed as well.  Globe Life promotes their life insurance by suggesting you don’t have to deal with an agent.  It suggests that somehow this is in your best interest.  The concept is entertaining but it sure doesn’t save you money and takes away the professional advisor who will filter out subpar policies and the suggested options that will truly meet your needs.

It is our recommendation that you use our instant life insurance quote tool on this page to see what Globe doesn’t want you to really know about. It takes less than a minute and you will quickly see why this is important to this review.

With that said…

Here comes the breakdown on the Globe Life Insurance Company and the products. 

Profile of the Globe Life Insurance Company

Founded in 1951 with corporate headquarters in McKinney, Texas, Globe Life is a well established, household type name.  Globe Life Insurance Company is owned by the Torchmark Corporation and operated as a subsidiary.  Torchmark actually owns multiple different insurance companies.

Globe has an excellent financial rating of an A+ from AM Best, the most recognized name in insurer ratings in the industry.  What this means is, Globe Life has plenty of cash in their coffers to pay out any legitimate claims to the life insurance policies they issue.  You should not be concerned whether Globe has the money to pay its legitimate claims. A.M Best states this carrier has excellent resources to do so.

The Truth Behind Globe Life Insurance Products

If you investigate Globe Life on the web, you will quickly see that they specialize in 2 life insurance products.  The first of those is a simplified issue term life insurance.  The second is a simplified issue final expense (similar to burial insurance), whole life insurance policy.

Many, many people receive an advertisement card in the mail from the company with an advertisement for for these 2 products. The are unremarkable, meaning they are just common forms of life insurance.

We have taken a close look at Globe Life Insurance Company and its products.

Our intent of these reviews is to layout the facts why we may or may not recommend a particular company and/or it product(s).

Make sure you check into alternate carriers and before you make any decision to purchase life insurance coverage with Globe Life or any other carrier. We think you will be surprised what Globe Life does not want to to know. Use on instant quoting tool on this page for starters and see what the competition is charging. Next read your Globe Ad carefully. Note the terminology “As Low As.” Most people are pretty shocked when they find out their price for Globe Life Insurance protection. The ad does not know you, your age, gender or health.

Don’t make the mistake of not consulting with a professional agent to help you pick the correct policy for your family needs. No, I’m not referring to the auto or homeowners agent on the corner. You want a full time, independent life insurance agent. Life insurance is a very serious purchase.  It isn’t a policy you call around years later to see if you can get a better price. Making the right decision form the beginning is the goal. Too many people have had surprises thinking they had a good, reliable policy for a low price and the later found out the hard when the price kept going up. Worse yet, their beneficiary ends up with nothing at the time of need because the policy expired worthless in a drawer.

Does this happen a lot? Absolutely.

What does a good professional do for you?

First, you get consultation and support before and after you purchase your life insurance policy. A good independent agent/broker may be the difference between getting good, affordable coverage or a poor quality, overpriced policy that will not get the job done right ending in frustration or a mountain of debt for the family.

In a few minutes of reading here, you will have the skinny on the Globe insurance life policies, so continue on for more.

Manipulative Marketing or Advertisements

You are looking into Globe Life Insurance reviews for good reason.

Just a little advance notice…I’m bringing the heat here!!

Many life insurance consumers have seen the Globe Life ad stating $1* buys $50,000 or even $100,000 of coverage for adults and children.  That includes me, though I’m typically ambushed thru the mail.

Seems like a great deal doesn’t it?

You might even think about “clicking” on the “great deal.”

Whoa!!  Let’s stop here and look at what I just stated regarding the advertisement.

The * is the key here. 

This is manipulative marketing in my mind.  Sure looks like an attempt to confuse a trusting consumer on what this Globe Life policy really costs to own year in and year out. 

It also appears that they may count on consumers being naive when it comes to life insurance.  The initial $1 payment is alluring and many people assume it is a real good deal.

Let’s take a closer look at this offer.  While your first payment is only one dollar, the real premiums are yet to come. 

and…

Those premiums are much higher than one dollar!!

In fact, Globe Life Insurance rates are much more expensive than many of the top notch life insurance companies out there. 

It is important for you to check the rates of other companies and see what other products might better suit your needs and budget. 

No one I ever talk to will bother electing a Globe Life product once they realize the better options available to them.  This even includes those who already have had a Globe Life policy, cancelled and replaced it with a more affordable one. 

They’re simply better products and rates out there, period.

Many consumers do not realize how life insurance companies really profit. 

You see, life insurance companies are betting on a great percentage of people keeping their policy for a just a portion of the coverage period and cancelling prematurely.  

At that point, they get to keep your premiums and you no longer have any coverage. 

So, a consumer just got drawn in by a teaser offer of $1 and then pays a higher than normal rate for coverage after that, and simply cancels down the road because of the cost of insurance. 

Many consumers just get tired of the ever increasing premiums or simply cannot afford the rate increase. 

Heck, they had bought the life insurance for $1!! 

Who do you think won that game? 

Who’s happy, the former Globe policy owner or Globe Life?  After all, they didn’t have to pay out on the policy.

In 2016, State level insurance regulators at the National Association of Insurance Commissioners reported data indicating that Globe Life had complaints filed against it above the median level for a insurance company of its size. This is where life insurance consumers wonder if Globe Life is a good company or not due to the complaints filed with state insurance departments.

It is important to note, while all life insurance companies have some complaints against them from upset people, the elevated complaints around the country does not reflect well on Globe Life’s image and reputation.  What do you think?

The problem is clear to me. These policies are being sold to consumers without an independent agent or broker to help ascertain and recommend the best coverage for you based on your age, health and goals with the coverage. 

This is what happens to trusting life insurance consumers. This is a major part of the complaint problem. 

Don’t put yourself in that position. Get a pro involved to help you sort it all out.

Most folks who end up replacing their Globe Life policy are happy about the money that they save and/or the additional coverage they got for the same amount of premium. 

We are just able to obtain guaranteed level rates for individuals for much less working with the top life insurance companies in the business. 

No “slippery” techniques used in the paperwork to fool trusting folk who just want a dependable and affordable life insurance policy to protect their family.

As you look at Globe Life Insurance rates, understand the small print of the policy you are considering.

Policy Option Breakdown

Stated earlier, Globe Life markets 2 different life insurance products.  They are marketed in aggressive fashion thru the mail.

FYI, this is often a red flag when a life insurance product is marketed directly to a consumer without a trained professional to interpret the product.

Top life products are channeled thru professional agents and brokers with all the top life insurance companies. They are not sold thru the mail or on TV.

Some insurers count on you not doing your research and learning about all your options.

Globe Life Term Life Insurance

The first product in this Globe Life insurance review is an increasing premium, term insurance offering. The rates will be going up over time. This is not a level premium policy.

Term life insurance is popular these days, but it really should only be used for younger families. Have you already got your free instant comparison of level term life insurance policies on the market?

This Globe policy expires at age 90 which will cover the vast majority of people in 2023. This is one of the highest limits a term policy will cover. On your 90th bday, the policy expires.

Term insurance is pure life insurance protection. There is no cash value and if you die after the end of the term, your policy is expired.

The key is, term life insurance always expires at a predetermined time.  No, there is not any return of premiums on this policy after the first 30 days of ownership. If you know a defined point in time when you will no longer need life insurance, term can be a good solution.

Due to the price of 2 policies Globe offers, consumers are typically attracted to the term life policy.  It sounds cheap, but is it really?

Here is a breakdown of the Globe Life Term Life Insurance Policy, the pertinent facts you absolutely need to know.

  1. Smokers and Non Smokers pay the same cost.  As a Non Smoker you have to pay the same as someone that does smoke.  Smoking alone typically doubles the cost of term insurance.
  2. Your premiums will increase every birthday that end in a 1 or a 6.    For example 41, 46, 51, 56 and so on.
  3. You must answer the medical questions to apply, but no medical exam is required.  You must pass the health question interview to qualify for coverage.  This is not guaranteed issue life insurance coverage.  If you are relatively healthy, you are better of with a traditional life policy which will offer much better rates in exchange for answering a few more questions and having a free paramedical exam in your home if the particular insurer requires it.
  4. The Globe term policy expires at age 90.  There is no return of premiums or cash value in this or any term life insurance policy.

Globe Life Senior Insurance – The Globe Whole Life Insurance Plan

Globe whole life insurance is their 2nd product. It is also designed for simplified issue.  In other words, easier to qualify for with no medical exam.  Life insurance of this nature is typically designed for people 50-85 and may have “rocky” health. Globe Life senior insurance may meet the needs of a family that is planning end of life expenses which requires a lifetime guarantee of coverage.

A simplified issue whole life policy like this features ease of application, a smaller panel of health questions and no medical exam.  You can obtain coverage amounts between $5,000 up to $50,000 with Globe based on the health questions on the application. Sometimes this type of whole life insurance is called Final Expense or Burial Insurance.

With any whole life insurance policy,  you are guaranteed a lifetime of coverage for the face amount (death benefit) of the policy as well as a premium that will remain the same regardless of age or a change in health.  There is also a cash value account built into the policy.

Is there anything special about Globe Life’s whole life policy?

No.

These policies are a dime a dozen folks.  Many highly rated life insurers offer policies like this and are more affordable.  Find out who offers the lowest priced companies are for a policy like Globe Whole Life Insurance.

Find out who really offers the best prices on final expense whole life insurance just like this Globe Life plan. Use out our free, instant quoting tool here and learn more about no exam, whole life insurance. Select “excellent health” to ensure you see both the lowest price policies and top of the line coverage.

Are Globe Life Insurance Rates Level for the Life of the Policy?

Questionable marketing on their policy benefits are even posted on their website. 

Large numbers of consumers are led to believe that premium rates are guaranteed level.  From their website “The Premium Schedule You Establish Today will not change for any reason” does not mean guaranteed level premiums.  What it means is, as of the purchase date of this policy, you will be paying a variable amount over the coverage period, according to the current payment schedule you may or may not understand. 

Of course, one should always verify how much coverage is going to cost them over the years, but such a statement can easily be misconstrued to mean a locked in, level premium based on buying today.

Ladies and gentleman, this plan gets very, very expensive by age 75 or so. Lots of people drop it at this critical point of their lives because it becomes unaffordable and often those living on a fixed income.

Yet, it was only $1 to start!

Now, their health has declined with age and no life insurance in place.

They should consult with an independent agent to see what options are still available that will get the job done right.

These Globe Life policies…

When compared to the top life insurers in the business, are misleading.  Globe should clearly identify to consumers that the policy is NOT level in cost and the premiums are clearly illustrated and available to see. 

As it turns out, premiums will rise every 5 years

While a careful look at the words might make you think twice, it clearly is not forthcoming.  The $1 offer is only good for the first month of coverage.

Why doesn’t Globe Life clearly indicate the premiums increase every five years?  That is pretty simple and straight forward for consumers, right? 

The fact is, their competition offers level premiums and lower monthly payments.  As a result, a lower cost of ownership over the life of the policy.  What will most consumers turn around and do?

No one likes to overpay for their life insurance do they?

Globe Life Review

If purchasing this kind of life insurance coverage, be aware that as you get older your premiums will do nothing but increase regardless of your health. 

While you may be tempted to believe this is a very affordable package, the reality is that Globe term life rates are not competitive as you become older.  That is when it is needed the most.

Who is a Globe Life insurance policy best suited for?

If you are a smoker, you might consider a Globe term life Insurance policy.  The simplified underwriting in the application process does not penalize a smoker as would many other insurers. 

Is it the best option for someone who smokes?  Nope, but depending on your health, it might be a decent option.

Globe Life might also be worth some consideration if you have a serious health condition.  Globe whole life insurance (permanent coverage) could function for the use of covering final expenses.

Are there better options for most folks regardless?  Yes.

I would recommend simply using the instant quoting tool on this page and find what a quality policy will cost you.  A policy that has a level premium and benefits that never go down. 

Why waste more of your time?  You’re thinking about buying life insurance and protecting your family, right? 

You’re looking at Globe Life insurance reviews trying to decide if they have a good product or not.

So…

Let’s face it, the cost is a big part of the decision as well.

Take the time and price out the competition if you haven’t already. Run a instant quote now. In 1 minute or less you will have a comparison of the top carriers.

For a comparison to Globe whole life insurance, use this quoting tool. If term life insurance is your need, the quote tool on this page will take care of you.

You are not getting any younger which certainly affects your rates. The younger you are, the better opportunity you have. This equates to lower risk for the life insurance company so they can offer savings in premiums.

Globe Life Insurance really fits a very small segment of the population. 

Beware of the slick marketing. The products they offer just really don’t get the job done right for the vast majority of consumers. 

We see and hear of many people left very disappointed down the road.  Not good!!

Be aware that there are hundreds of life insurance companies… many of whom offer numerous products designed specifically to meet your needs.  They are marketed typically thru independent agents and brokers who specialize in life insurance and are better able to advise you on what you need to protect your family thoroughly and more affordably.

Why turn to one insurance company with very limited offerings?  What advice do you think the salesperson at the Globe home office is going to give you?  That’s right, buy one our 2 policies!!

Wouldn’t you prefer a policy of greater value and lower cost of ownership as well?

Did you know that it costs you nothing to speak to a professional who can guide you into the best life insurance product or products for your needs.

If You Need Term Insurance, Buy True, Level Term Life Insurance

Typical term life insurance is sold in different periods or “terms” such a 10, 20 or even 30 years.  Most of these applications do require a free in home medical exam.  You can opt for a no medical exam policy which will still keep your cost level, but the cost will be a bit more.  Hey, some folks don’t like needles!!

So, if you buy a 20 year level term policy and pay $25 a month, the death benefit and the premium will never change until the “term” expires. In this example, $25 a month for 20 years.

This is not how this Globe term life plan is designed.  Ultimately the policy gets more and more expensive…every 5 years the price rises!!

The common problem we hear weekly…it becomes unaffordable just when they need coverage the most.  So now that small price to pay of a $1 “investment” became a huge disappointment. 

Have a good professional do the shopping for you. Globe life term rates can become very expensive, sometimes when your health has declined with age. What do you do at this point? Life insurance is priced based on the age you initially purchase the protection and your overall health.

All you really have here with Globe is a 5 year price guarantee, not a level term life insurance policy which guarantees full coverage for the same premium for the full 10, 20 or 30 year “term” of the policy.

If you feel you only need 5 years of coverage, you might opt for this coverage, but it is simply much more affordable for the long run to purchase 10-30 term policies from the top flight insurance companies.  These policies stay the same price month to month throughout the entire policy term you pick.

Globe Life Rates For Seniors: Their Whole Life Insurance Plan

The vast majority of people looking at Globe senior life insurance are planning for their final expenses and/or creating an estate for their family. End of life expenses require a dependable, permanent life insurance policy. Since term life insurance expires typically 75 or 80, it is not a good solution for today’s seniors who are living well beyond that.  Whole life insurance has been the mainstay for many years and never expires due to age. 

While the Globe whole life insurance is clearly the better of the two products reviewed here today, we know there are better offerings on the market to consider.  The cost of the coverage when compared to other carriers takes the air out of it. Globe Life burial insurance rates are simply not competitive.

Seniors looking for permanent protection are better served by a different company all together. 

Rounding Third Base Of Our Globe Life Insurance Review

Ladies and Gentleman, Globe Life is a well known name.  Primarily because it has been aggressively marketed for many years. I receive several mailers a year from them myself.  While it also has an excellent financial rating of A+ by A.M Best, it does not mean you are getting the right product, top notch service or price.

It is important to note in our Globe Life insurance review that Globe is certainly a legitimate company that will pay their claims provided the terms of the policy have been met by the owner and insured individual.  Misrepresentation, nonpayment of premiums and dishonesty on the consumer side will result in a negative outcome with any life insurance company down the road.

The greatest identified issue with their 2 completely different life insurance products is the cost of the insurance versus the benefits.  Yes, their competitors have much stronger performing products at a lower out of pocket of ownership.  That alone is a valuable benefit to you.

So, what is most important to you? 

Ask yourself what your goal is with purchasing life insurance?

What are your particular needs? 

Have you taken the time to use our free and instant quote tool on this page to see who the top carriers really are?

Why wouldn’t you want a lower cost of ownership and a good independent agent/broker to assist you shopping the coverage and offer support for the future?  It costs you nothing and you have everything to gain. 

Run a quote yourself in the instant quoting engine on this page if having level term life insurance is all you need.  See the best offers out there. If you need permanent whole life insurance for end of life expenses so your loved ones are not burdened get your instant quote right here.

Independent agent and broker services are free to you folks. 

Your out of pocket costs are the same whether you contact an insurer directly or not.  The cost of insurance is the same whether you have the support of an independent agent/broker are talking a home office of an insurer.  State law folks. Globe Life doesn’t want you to know this!

If you deal “directly” with Globe Life, all you will get is Globe Life home office agents giving you the very limited Globe life insurance options and their pricing.

Is Globe Life Legitimate or Not? – The Real Problem…

If this is your primary concern, you need to get on the phone with a life insurance professional. Find out who really offers the best policies for the money.

The Globe life term insurance offering will get no endorsement from this office.  We believe this type of product that goes up in price every 5 year are simply opportunistic and don’t suit the majority of term life insurance consumers, particularly those at or approaching their senior years.

Most of the time, life insurance buyers are just looking for an insurance company they can trust and has affordable premiums with type of coverage they need. Most often this is either Term (temporary coverage) or Whole Life (permanent insurance). Unfortunately, many people are a bit naive about differences among life insurance policies or simply don’t realize the long term cost and limitations of these aforementioned products.  The name of the company is really not a key to finding the best policy. It is the policy benefits and affordability that should be the primary consideration.

Globe is very limited in their products. That is an issue folks. 

There is a reason independent insurance agents avoid products like the Globe Life insurance offerings.

There is also a reason why Globe Life tells you no agent will visit you.

Top independent agents in the life insurance business have many companies they work with that clearly offer superior products and rates.

Globe Life knows this.  They are not particularly concerned with your best interest.  Like any insurance company, they are in the industry to make a profit. 

A reputable independent agent will steer you away from non competitive products and those that don’t serve you and your family well.

Remember a reputable and seasoned life insurance agent is your ally and advocate. A quality “independent” will always steer you away from a mail order insurance company that carefully suppresses the real weakness inside their policies.

Globe Life Insurance Reviews – There Are Plenty

If you check other reputable sources that have reviews on Globe, you will find plenty of controversy over their life insurance products.  Does not matter whether it is the Globe Life senior whole life insurance or the Term Life product, the marketing tactics and lack of transparency surrounding the cost of the life insurance on a monthly basis seems to a problem that needs to be addressed.

As a consumer, it is your responsibility to do your due diligence. Ask questions and don’t make assumptions. Life insurance is an important decision for your family.

We can help you cut to the chase and help you obtain affordable, top quality life insurance tailored to your needs. We offer a boutique life experience not found calling an insurance company or calling center somewhere.

Remember, a serious independent agent/broker will be working with dozens of the top life insurance companies and will steer you away from “questionable” products.  The options are laid out for you so you can make an educated decision. This is free, unbiased representation and assistance. 

Unfortunately, many life insurance consumers don’t know or understand this and place faith in a company name versus the product itself.

With Globe, many people are just unaware of the terms in the policy they have purchased and what their real options for coverage are.  Consumers are bombarded with Globe solicitations thru the mail. I’m no exception!

Something to remember…

Reviews on Globe Life insurance may be helpful…

but…

Life insurance is not a simple apples to apples.  It is not just “term life insurance” or “whole life insurance.”

While we all want a company that pays its claim well, the wrong policy purchased by a well intending consumer…could be very disappointing down the road for not only you, but the loved ones you are trying to financially provide for.

Now…

Globe Life does pay its legitimate death claims but seems to leave a good number of disgruntled people in its wake.

More often than not, it is dissatisfaction with the policy rates jumping up or the coverage simply expiring due to the policy provisions.

Is Globe Life legitimate or not?

Yes, they are.

However…

The Globe Life insurance rates and limited products leave a lot to be desired.

Special Risk Life Insurance Rating For BOTH Globe Life Insurance Products = “D”

The “Take Home” of This Review

There is no savings without having an advocate…an independent agent/broker to make sure your needs taken care of.  There are a lot of good ones out there who will provide a very positive experience for you.  If you don’t like who you are working with, find another.

It is always best to seek out an agent/broker who has access to all the top life insurance companies and life insurance who can’t have you complete your due diligence. Ask questions to eliminate future problems or dissatisfaction down the road.

Without a doubt, top life insurance products are found with independent life insurance agents. Globe has intentionally marketed their 2 products to avoid the scrutiny you are finding here today.

Trying to sort thru the ads and postcards is not easy and you will never know what is really out there for you without consulting with a pro who knows the limitations of the different products on the market.

Do you really believe you can get $50,000 or even $100,000 of life insurance for $1?  If it sounds to good to be true then it usually is.  Of course it works out to be a lot more expensive than that.

Check into your options.  You are going to be shocked to find multiple reviews for Globe Life insurance products clearly indicating there are many better options for consumers.

Why?

Because they simply are not a good choice for most people.

As a reminder, get started today by using the quoting widget on the right side of the screen to get yourself an instant quote as a baseline of comparison.

However, with so many companies and options, it can overwhelm many people.  A phone call to us is highly recommended.  Take 5 minutes and get guidance.  It doesn’t cost you a nickel!!

Remember, a reputable independent agent works for you, not Globe Life Insurance Company.  He or she wants to earn you as a client and make sure your loved ones are protected from financial loss first and foremost. That is how they earn a living.

Look for someone with access to a couple dozen life insurers and you have a good start on putting that Globe Life ad in the circular filer. You can be assured I throw mine away.

Yes, I receive those solicitations too!! Got a stack of them on my desk that remind me to update this post each year.

I hope that this Globe Life insurance review has answered your questions about the coverage.

We are always here to help you better understand life insurance.  Feel free to comment,  or contact us at 269-230-3464.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

css.php