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Globe Life insurance review 2021
Last updated:
Choose term, whole or burial policies without a medical exam — but limited riders.
finder.com's rating: 3 / 5 ★★★★★
Bottom line: Globe Life might be a good fit if you’re looking for a cheap, basic policy with less than $100,000 in coverage, though that might not be enough for everyone.
18 to 70
Issue Age
$5,000 to $100,000
Coverage
No – simple application
Medical Exam Required
Details
| Policies | Term, Whole |
|---|---|
| Coverage maximum | $100,000 |
| Term lengths | 5 year level term |
| Medical exam required | No – simple application |
| Available states | All 50 states |
| Issue age | 18 - 64+ years old |
Pros
- No-exam policies
- Accessible coverage starting at $5,000
- Long free look period with 30-day money back guarantee
Cons
- Death benefits are capped at $50,000 or $100,000
- Lack of transparency around riders
- Agents are only available by phone on weekdays during business hours
- Poor customer service and delayed claim payments.
- No conversion for term life policies
| Riders |
Accidental death benefit rider Child rider |
|---|
Expert review
Review by
Katia Iervasi
katia.iervasi@finder.comKatia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).
Expert review
While you can forgo the medical exam, Globe Life insurance doesn’t offer many riders and has low-rated customer reviews.
Globe Life is ideal if you’re looking for a streamlined application and low coverage — up to $50,000 for whole life, $100,000 for term life or $30,000 for children’s whole life.
Globe Life’s payouts are common for a no-exam policy. However, you’ll get more coverage and rider options with policies that require exams. And children’s life insurance isn’t recommended for most.
Globe life insurance rates
Expect to pay an average $40 a month depending on your age and health, slightly less than the standard $50 to $100 for life insurance.
Globe Life also advertises its $30,000 children’s whole life policy and $100,000 term life policy at $1 for the first month, a unique offer that could save on upfront costs if you already need these policies.
Using Globe Life’s online quote tool, we reviewed rates on a $100,000, 20-year term life policy for a healthy, nonsmoking man and woman.
| Age | Man | Woman |
|---|---|---|
| 20 | $30.58 | $17.68 |
| 25 | $39.94 | $22.32 |
| 30 | $49.48 | $30.24 |
| 35 | $59.99 | $39.67 |
| 40 | $75.11 | $50.94 |
| 45 | $95.76 | $63.92 |
| 50 | $123.64 | $85.32 |
| 55 | $158.08 | $108.45 |
What factors affect my rates with Globe Life?
Globe Life doesn’t share details online on how to qualify for its best rates. Its eligibility questions also seem spammy since answering medical questions doesn’t seem to affect your quote. Once you confirm a quote, your rates may be adjusted.
Examples of questions asked when getting a quote:
- Disability. Are you disabled, confined to a hospital or need a wheelchair to move around?
- Critical illness. Have you been diagnosed for cancer, heart disease or other serious illnesses in the last three years?
- Chronic illness. Do you have a chronic illness that needs medical care or future surgery?
- Driving record. Have you had your driver’s license suspended or revoked in the past five years?
How to get a quote from Globe Life insurance
You can apply by calling 800-742-6787, or by filling out an online form. If you live in New York, you’ll be emailed your options after starting your application online and can start coverage within two weeks.
- On the homepage, choose a policy type and enter your name, address, phone number and age bracket. Click Submit.
- Select the amount of coverage you want to buy and click Continue.
- Answer a series of questions about your health and lifestyle. Click Continue.
- You’ll be presented with a range of quotes. Adjust your policy details as needed, and then click Continue if you’d like to proceed.
What life insurance policies does Globe Life offer?
Globe Life sells basic policies that most insurers offer, without venturing into policies like universal life with higher potential investment returns. But none require a medical exam, which is an unusual policy lineup.
- Term life. Term policies provide protection for a set timeframe, and you can buy a policy valued between $5,000 and $100,000.
- Whole life. You can buy up to $50,000 in coverage that lasts your entire life, builds cash value and keeps rates the same from month to month.
- Children’s whole life. This policy tops coverage at $30,000. After the first month, premiums are based on the child’s age at the time of purchase.
Does Globe Life offer burial insurance?
Yes. Globe Life’s whole life insurance policy doubles as burial insurance. It’s available to seniors aged 50 to 80, and in coverage amounts ranging from $5,000 to $50,000. It also accumulates cash value over time.
Unlike most final expense policies, Globe Life’s doesn’t have a waiting period — which means your beneficiaries will receive the full death benefit regardless of when you pass away.
What riders can I add to my policy?
Globe Life doesn’t give much information online about add-ons, while competitors often detail many riders. If you want an accelerated death benefit or waiver of premium, you may need to look elsewhere.
However, it does mention a few riders available for government employees’ group life policies:
- Accidental death. Pays an additional benefit if the policyholder dies in an accident.
- Child. Pays a set amount if your child dies.
- Deposit fund. Available on policies paid by automatic bank drafts, this rider deposits funds into an account with at least a 3% interest rate for the policy’s life.
Globe life insurance reviews and complaints
The Better Business Bureau awards Globe Life a high rating, though it’s recorded a high number of complaints in the past three years, not necessarily unusual for a large company. Many complaints cite lack of communication and customers not getting claims paid.
| AM Best financial rating |
A+ |
| BBB accredited | Yes |
| BBB rating | A+ 1/5 out of 10 customer reviews |
| Trustpilot score | 2.9/5 out of 2 customer reviews |
| JD Power score | 810 |
| Customer reviews verified as of | 20 January 2021 |
How Globe Life compares to other companies
Globe Life offers only no-exam policies, while other companies either require exams or offer one no-exam option. Also, the company’s $5,000 death benefit and five-year terms for term life policies are lower than other companies, ideal if you want basic coverage to pay small debts or end-of-life costs.
However, Globe Life could offer better value for coverage. Its policy death benefits are capped at $100,000, while other policies offer $250,000 or $500,000 payouts.
Also, Globe Life’s $100,000, 20-year term policy for a 30-year-old man costs $37, over double the average $17 for a policy with $250,000 in coverage. Keep in mind that other term policies require a medical exam.
Compare alternatives to Globe Life
See how Globe Life stacks up to competitors’ coverage benefits. Tap the Compare box to see up to four companies side by side.
Frequently asked questions about Globe Life insurance
Life insurance ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.