Globe Life insurance review June 2019 | finder.com

Globe Life insurance review

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Whole and term life policy options with no medical exam required – simple application.

Get a quote if…

  • You don’t want the hassle of a medical exam.

Pick something else if…

  • You want a long term length.
Insurance ProductsTerm, Whole, Children's insurance
Issue Age18 to 70
Coverage Amount$5,000 to $100,000
Term Lengths5 year level term
CostAs low as $3.49 per month
Medical Exam RequiredNo – simple application
Ratings, Accreditation and MembershipsA.M. Best: A+ (Superior)** rating as of 7/18

What types of life insurance coverage goes Globe Life offer?

Globe Life offers a range of protection to protect the financial future of the people you love most.

Globe Life’s range of protection plans includes:

  • Term life insurance. Coverage ranges from $5,000 to $100,000 with a simple application process starting as low as $3.49 per month. However the term lengths are short. The initial period is 1, 2, 3, 4 or 5 years, with policies renewing every 5 years.
  • Whole life insurance. Guaranteed lifetime rates can help you build cash value on policies of up to $50,000. Plans don’t require a medical exam and come with a 30-day money-back guarantee.
  • Children’s life insurance. Starts at $2.17 per month, with coverage topping out at $20,000. Your rate is based on the child’s age and is guaranteed for life, no medical exam required.
  • Accidental benefits insurance. Guaranteed acceptance for all applicants ages 18 to 69 with coverage of up to $250,000 and a 30-day money-back guarantee.
  • Mortgage protection insurance. Helps cover your mortgage payments if you die unexpectedly. Acceptance is guaranteed, with rates starting as low as $5.50 a month and a 30-day money-back guarantee.

What riders can I add to my life insurance policy?

Your typical life insurance policy doesn’t cover every unforeseen life event. To ensure your policy can provide comprehensive coverage, explore the benefits of common policy add-ons. Globe Life doesn’t specify which riders it offers on its website, but these are a few of the common ones most insurance companies have available:

  • Children’s rider. A children’s rider can be added to adult life insurance policies to provide life insurance protection for your children until they come of age.
  • Living benefits. Also known as an accelerated death benefit, this policy add-on typically offers an early release of death benefits should the policyholder be diagnosed with a terminal illness.
  • Waiver of premium rider. This add-on allows for the policyholder to temporarily waive their insurance premiums while maintaining coverage if they’re unable to make payments due to a temporary illness, injury or disability.

How do I get a low rate?

Globe Life advertises a simple application examination policy on its life insurance products. Your rate schedule is determined by your age and the type of policy you plan to purchase.

Applicants with this provider suggest that the younger you are, the better your opportunity for securing a low rate. Rates will also vary by state.

Pros and cons of Globe Life

Pros

  • Simple application. Get term, whole, children’s and accidental life insurance using a streamlined process.
  • Level terms. Globe’s term life policies offer level premiums that won’t increase until it’s time to renew.
  • Noteworthy financial strength. Whole life insurance policyholders can rest easy knowing that the cash value in their policy is secure.

Cons

  • Slow claims process. Customers online complain that it takes a long time for Globe Life to turnaround claims paperwork and payments.
  • Short length of terms. Initial term periods are 1-5 years, depending on age, and renew every 5 years thereafter.
  • Riders not readily available. If you’re interested in adding protection to your typical policy, you’ll need to discuss your needs directly with an agent to know your options.

Life insurance companies like Globe Life

Name Product Issue Ages Coverage Range Medical Exam Required
20 to 60 years old
$100,000 to $8,000,000
No
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
18 - 85 years old
$10,000 to $10,000,000+
Depends on provider and policy
Compare quotes from 16 life insurance companies side by side.
18 - 64 years old
$100,000 to $3,000,000
No
Customized term life insurance policies up to $3 million, no medical exam required.
18 - 80 years old
$50,000 to $25,000,000
Depends on provider and policy
Get a quote within minutes from more than a dozen insurers.
20 - 85 years old
$100,000 to $1,000,000
Depends on policy
Get a term or whole life insurance quote from Fidelity Life - starting as low as $15/day.
21 - 54 years old
$50,000 to $1,000,000
No
Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.
20 - 80 years old
$25,000 to $10,000,000
No
Quickly get a quote for coverage with this marketplace, which compares term & whole life insurance policies from 45+ carriers.

Compare up to 4 providers

Globe Life reviews and complaints

Globe Life is accredited by the Better Business Bureau, which awards it an A+ rating. Online reviews of this provider suggest that while the application process on Globe Life’s website is easy to navigate, it can be challenging to understand what’s included in your plan.

Carefully review the fine print of your policy before signing off on any documentation. Some reviewers also that filing a claim with this provider is time intensive, suggesting that the process can be frustrating and complicated.

How does Globe Life protect my data?

Globe Life collects your personal information in order to respond to your requests, help with the underwriting process, market to you, tailor your experience and provide customer service. Your information may be shared with third parties for marketing purposes.

Globe Life takes steps to protect your data against loss, misuse and unauthorized access by encrypting sensitive information.

How do I sign up?

You can only sign up for term life insurance online. If you’d like to get info on a whole policy, you can fill out an online form or call 1-800-742-6787.

Here’s how to get a quote and apply online for a term policy with Globe Life:

  1. Begin by clicking Get Quote on the homepage.
  2. Then enter your name, gender and date of birth.
  3. Select the amount of coverage you want and click Continue.
  4. If you want to add an accidental death benefit, select the coverage amount and then click Choose. If don’t want to opt in for the accidental death benefit, click No Thanks.
  5. Then enter your contact info, including name, address, phone number and email, and click Continue.
  6. You then need to designate your beneficiary and enter his or her information.
  7. Next you’ll be prompted to answer some health questions. Answer the questions, then click Continue.
  8. After answering the health questions, you will be presented with a quote.
  9. If you’d like to proceed, select your payment method — bank draft or credit car — to continue to confirmation.

More about Globe Life

Founded in 1951, Globe Life is one of the largest providers of individual life insurance in the US, serving more than 4.2 million active policyholders.

The company maintains an A+ rating with both the Better Business Bureau (BBB) and A.M. Best and is known for its unique policy features.

In addition to life insurance, Globe Life also offers Medicare Supplement plans designed to cover medical expenses not covered by Medicare, including deductibles, co-payments, outpatient hospital services and physician’s costs. You can purchase a policy direct and are guaranteed acceptance regardless or preexisting conditions if you are turning 65 and apply during the six-month open enrollment period.

How do I file an insurance claim with Globe Life?

To file a claim with Globe Life, you must mail your claim documents to Globe Life, including the following information:

  • Your name, telephone number and address
  • Policy number
  • Death certificate
  • Obituary
  • Coroner’s report (if applicable)
  • Police report (if applicable)

Mail this information to:

Attn: Life Claims Department
Globe Life and Accident Insurance Company
PO Box 26400
Oklahoma City, OK 73126-9809

You can follow up on the status of your claim by calling Globe Life’s customer service department at 888-650-4081 or by logging in to your account through Globe Life’s eService Center.

Bottom line

While this provider offers a variety of life insurance products and has the resources to protect you and your family in your time of need, be aware that filing a claim could be a long and frustrating process.

Know your options with other life insurance providers before applying for a policy and take the time to ensure you and your family receive the coverage you deserve. To compare insurers, policy options, riders and more, visit our comprehensive guide to life insurance.

Frequently asked questions

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

  1. Default Gravatar
    MyLife199December 5, 2018

    What is the average wait time on a Globe Life life insurance policy for someone who had the policy for over 50 years and was on hospice before their passing?

    • Avatarfinder Customer Care
      JoshuaDecember 10, 2018Staff

      Hi MyLife199,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      I went to Globe Life’s website and couldn’t find a specific answer. However, they mentioned that every claim is unique and the handling time would vary from one situation to another. They assured clients that as soon as a person starts the claims process, they work hard to take care of your needs efficiently.

      What I can suggest is for you to make a claim now to ensure that your request is processed as soon as possible. You can then follow up on the status of your claim by calling Globe Life’s customer service department at 888-650-4081. Alternatively, you can also log in to your account through Globe Life’s eService Center.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

Go to site