Globe Life Insurance Review of 2024- Make Sure You Read The Fine Print!

One of the most important things that someone can do to provide for their loved ones after they’re gone is to get life insurance.

It can help with medical and funeral expenses, and it provides peace of mind for your family when you die.

Life insurance might be one of the most important purchases you’ll ever make – but if you don’t buy it today, it could cost a lot more when you need it tomorrow.

In this article, we will take a look at one of the life insurance providers: Globe Life Insurance. We will discuss its packages and plans and whether or not you should opt for it.

Keep reading.

Globe Life Insurance Review of 2024

First Thing First, What is Globe Life Insurance?

Globe Life Insurance is a company that was founded in 1951 when it started selling life insurance policies.

Today, Globe Life still offers life insurance, but it has also expanded into annuities, mutual funds, investments, retirement income planning, disability income protection, and supplemental income protection.

Based in McKinney, Texas, the company offers various plans to cover individuals and families.

Their products include term life coverage, whole life coverage, universal life coverage, variable universal life coverage, and other types of supplemental insurance for mortgage owners or business owners.

Things To Consider Before Buying a Life Insurance

Before comparing companies, choose the type of life insurance you want.

Then, decide which other parts of the policy you want the life insurance to include.

You need to calculate how much life insurance you need and the length of time that coverage should last.

You also want to ensure that the insurers you consider offer the coverage you want.

When comparing rates, be sure you are getting quotes for the same amount of coverage.

It would help if you also ensured that the policy’s medical requirements match your needs.

Shopping and comparing quotes from multiple companies is the first step in purchasing a life policy.

The process is very similar to shopping for auto insurance. The best rates are the policies with the cheapest rates since life insurance is primarily for death benefit planning.

But remember that price may not be the biggest driver behind your buying decision.

Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.

Below, we will discuss Globe Life’s available plans and packages, including their benefits and age requirements.

If you are trying to get the best rate with Globe Life Insurance, do not overthink it. Click here to get a free quote (insert a hyperlink here).

Globe Life Insurance Available Plans and Packages

Globe Life offers five different life insurance packages that do not require you to undergo a medical exam.

However, you can still be denied because of your health history based on your application.

Below are some items to keep in mind before applying to Globe Life Insurance:

• Family History
• History of substance abuse
• Current use of alcohol or tobacco
• Criminal history
• Job History
• Hobbies

While you can get a quote online with some policies, you’ll have to call Globe Life directly to get a finalized rate and purchase your policy.

• Globe Life Whole Life Insurance

With Globe Life whole life insurance:

• You can purchase $5,000 to $50,000 of coverage.
• Your premiums stay the same for the entirety of your lifetime.
• Your policy builds cash value.
• Your insurance benefit will never be canceled or reduced.

• Globe Life Term Life Insurance

With Globe Life term life insurance:

• You can purchase $5,000 to $100,000 in coverage.
• Your term is typically 10 to 20 years in length.
• The accounts do not gain cash value.
• Rates vary by state.
• Your premiums increase as you age into five-year age periods.

• Globe Life Children’s Life Insurance

With Globe Life Children’s life insurance:

• You can get $5,000 to $30,000.
• You can purchase a whole life insurance policy for your children or grandchildren between 0 and 25.
• The policy can build cash value for their future.
• There is no waiting period.
• Coverage begins on the first day.

• Globe Life Accidental Death Insurance



With Globe Life’s accidental death life insurance:

• You supplement your other life insurance coverage.
• It provides up to $250,000 for covered accidental deaths or losses.

It includes many benefits like:

• Inflation benefit.
• Seatbelt benefit.
• Education benefit.
• Common disaster benefit.
• Dismemberment benefit.
• Paralysis benefit.
• Commercially scheduled airline benefit.



• Globe Life Mortgage Protection

With Globe Life’s Mortgage Protection:

• You can get $50,000 to $350,000 of protection.
• Policies are guaranteed to be issued (you can not be denied because of your health if you are between 18 and 69).

Globe Life Insurance Available Riders

Many people have an understanding of what insurance covers, but may not know the specifics or terminology.

There are many types of insurance coverage, so it is important to understand what type of coverage you need.

One type of coverage is an insurance rider, which is added onto a policy to provide specific coverage for certain risks.

Riders typically include such things as medical payments, as well as liability and property damage coverages.

Globe Life has a limited number of riders available: 

Children’s Term to 25

If you have a term or whole life policy, you can add a children’s “Term to 25” rider to your coverage. With this rider:

• You can add up to $10,000 in coverage for a dependent child between the ages of 30 days and 23 years.
• The policy can be converted to a whole life policy (Before the child’s 25th birthday).

Terminal Illness Accelerated Benefit

On some policies and in select states, you can add the terminal illness accelerated benefit rider to your policy and access 50% of your benefits early if you have a qualifying terminal illness.

Waiver of Premium

On certain policies and select states, Globe Life will waive your premiums if you become totally and permanently disabled and have added the waiver of premium rider to your policy.

The rider terminates on the certificate anniversary nearest your 60th birthday.

Globe Life Insurance ratings Customer Satisfaction and Complaints

Customer reviews emphasize the high quality of customer service that Globe offers, mentioning time spent educating consumers and discussing policy options.

Reviews also mention the ease of the claims process.

Affordability, diversity in plan options and availability are also positive marks offered to the company in reviews.

The few areas where consumers expressed displeasure with Globe included the reinstatement process for lapsed policies and aggressive sales team members.

If you are trying to get the best rate with Globe Life Insurance, do not overthink it.

Globe Life Insurance PROS

• No Medical Exam:

For consumers looking for coverage in a pinch, Globe does not require a medical exam as a condition of coverage for its policies.

• Affordability:

Globe’s premiums for life insurance are among the most affordable in the industry, making this company a favorite with low-income consumers and young families.

• No waiting period for coverage:

Many life insurance companies have waiting periods before your coverage will go into effect. But with Globe Life, there is no waiting period. Your coverage begins right away.

• Policies for Children:

It is hard to find an insurance company that offers adult and kid policies under the same umbrella, but Globe has just such an option. The whole life policy geared towards kids provides parents with a long-term insurance option for their little ones.

• 30-day money-back guarantee:

Globe Life offers a 30-day money-back guarantee. If you decide that you’re unhappy with your insurance policy for any reason within 30 days of signing up, you can cancel it and get a full refund.

So, if you are trying to get the best rate with Globe Life Insurance, do not overthink it. Click here to get a free quote (insert a hyperlink here).

Globe Life Insurance CONS

• Few Riders:

Riders are ideal to customize an insurance policy, so the lack of options through Globe makes it hard for consumers to get exactly what they want.

• Increasing premiums on some policies:

With Globe Life’s term life insurance policies, your premiums increase as you age into new five-year age periods, such as 36 to 40. The increases can be substantial, causing your premiums to become more expensive.

• Guaranteed issue whole life policies not available:

While many life insurance companies offer guaranteed issue whole life policies (meaning policies that don’t require you to answer health questions or undergo medical exams), Globe Life doesn’t have guaranteed issue whole life plans. You have to pass Globe Life’s underwriting processes to qualify for a policy.

• Lower Than Average Death Benefits:

Compared to the industry average, Globe’s death benefit payout is fairly low, which is a drawback for some consumers.

Globe Life Insurance Frequently Asked Questions (F.A.Q)

• How Can I Manage My Policies and Shop New Plans?

Rather than selling insurance products through agents, Globe Life allows you to shop for insurance and get quotes over the phone. You can reach customer service by phone.

Or, if you’re a policyholder, you can manage your account online through Globe Life’s eService Center.

You can make payments, review policy details, and update your mailing address. Globe Life does have a mobile app for Android and iOS devices.

You can pay your monthly premiums, update your personal information, and learn about coverage options through your mobile device.

Is there a waiting period for Globe Life Insurance?

Like we mentioned in the PROs, there’s no waiting period with Globe life insurance.

You must qualify based on your health history.

If you’re approved, the coverage is immediate and does not make you wait 2 years before the benefits are payable.

Is Global Life Insurance whole or term?

Globe Life has both term and whole life insurance options.

Most of their online and mail advertisements are usually offers for their term insurance plan.

You’ll need to read the fine print to clarify which one they’re offering you.

Is Globe Life a reputable insurance company?

Yes they are a reputable and trustworthy insurance company. Globe Life has an A+ rating with the Better Business Bureau and A.M. Best. Objectively speaking, there is no reason to suggest they cannot or will not be able to pay their claims.

Does Globe Life offer whole life insurance?

Globe offers whole life to both children and adults. They won’t require a medical exam. Your acceptance to their whole life insurance is based on your medical history and answers to their health questions.

• Does Globe Life Insurance Offer a Cancellation Policy?

Life insurance companies typically offer a 10-day “free look period.” so you have 10 days to cancel your policy and have your money completely refunded without penalty. 

Globe Life offers a more generous 30-day money-back guarantee.

If you’re not satisfied with your insurance plan for any reason, you can cancel your policy, and Globe Life will fully refund your money.

Globe Life Insurance – Final Thoughts

Globe Life Insurance is a good fit for those that require affordability in their life insurance policy.

Because it has a children’s component, young families might benefit from the affordability factor as well as the range of policy choices.

Consumers that want to forgo a medical exam as a condition of coverage might also opt for a Globe Life Insurance policy, as the company does not require one to purchase a policy.