Globe Life Insurance Review

Policy Options, Pros & Cons, and Alternatives

Updated: June 2021

Globe Life is known for its hyper-simplified application process where clients can bypass undergoing a medical examination.

However…this insurance company is not recommended due to its high pricing compared to the rest of the market and coverage limitations.

Most people learn of Globe Life through their media advertising of $1 for your first month’s premium. They have a ballpark named after them and are all over TV and many supermarkets, however, all of that is paid for and not an endorsement of the product.

Globe Life simply has a massive advertising budget and that’s why you’re likely considering them and researching the company right now. We recommend comparing rates on our website to find policies that can be at least half the cost of a Globe Life Insurance policy.

Quick Navigation

Globe Life Insurance Ratings
About Globe Life Insurance Policies
How Much Does Globe Life Insurance Cost?
Globe Life Insurance with No Medical Examination
Globe Life Insurance’s Customer Service
Pros & Cons of Globe Life Insurance
Alternatives to Globe Life Insurance

Globe Life Insurance review

Globe Life Insurance Financial Ratings

Globe Life insurance has been awarded the following ratings.

  • A.M. Best: A+
  • Standard & Poor’s (S&Ps Global): A-

These are strong financial ratings, but that does not mean that they can offer you the lowest rates possible for your health status and financial needs.

About Globe Life Insurance Policies

Globe Life offers three types of insurance:

  • Whole life insurance for children (up to age 25)
  • Term life insurance for adults (their most popular offering)
  • Accidental life insurance

Term lengths are offered up to ages 80 and 90 with coverage ranging from a minimum of $5,000 to a maximum of $100,000. However, there are typically better options for term life insurance for seniors.

Globe Life’s whole life insurance coverage ranges from a $5,000 minimum to a $50,000 maximum.

Globe Life also offers Accidental Death Insurance, which is reviewed below.

Globe Life’s Accidental Death Insurance Policy

Globe Life offers accidental death life insurance

Globe Life offers decent accident coverage which is paid out if the policyholder passes away in a motor vehicle accident or anything of the sort. Accidental death insurance is guaranteed for people between the ages of 18 and 70 and is available with up to $250,000 in coverage.

This accidental death insurance is paired with numerous benefits, including:

  • An extra 10% payout if the policyholder was the parent of a child between 15 and 22.
  • Another 10% payout if the policyholder was wearing a seatbelt.
  • Instances, where the policyholder survived the accident but is disabled or paralyzed, are covered.

It isn’t unusual for life insurance policies to have accidental death insurance, however, Globe Life’s is certainly comprehensive and well-detailed.

Remember, this coverage only covers you in case of an accident. If there’s an illness or disease, it won’t pay out.

Accidental death from Globe Life is a fair priced plan when compared to other accidental death benefit policies on the market.

How Much Does Globe Life Insurance Cost?

Perhaps Globe Life Insurance’s biggest selling point is its affordability. One visit to the company’s website will see the advertisement “$1 buys you $100,000” in life insurance. But how, exactly, does this claim hold up?

Answer: it does and it doesn’t. While it’s true that $1 can give you up to $100,000 in coverage, this claim refers to only the first month of your policy plan. Premiums increase in the second month.

…and then they increase again every 5 years after that.

It will get prohibitively expensive once you reach age 70 even though the policy goes up to age 80.

So while the cost is attractive for the first month and may seem inexpensive for the first few years, Globe Life Insurance is usually more expensive over the lifetime of the policy.

Globe Life Insurance with No Medical Examination

This is another one of Globe Life’s big selling points. Its customers do not need to have a medical exam to receive coverage, so coverage can be given quickly and without hassle.

Although you do not have to be examined medically, Globe Life does require you to answer some questions about your medical history. They have the right to refuse coverage based on your answers. These questions traditionally deal with your history of alcohol and tobacco, your family’s health history, and your own background.

With that said, you can opt for no medical exam with a lot of other life insurance companies with much better pricing.

Globe Life Insurance’s Customer Service

Two adults choosing Globe life insurance

Customer service is a huge part of any buyer’s experience with not only an insurance provider but any business they are looking to give money to.

In this respect, Globe Life falls a little flat. The National Association of Insurance Commissioners reports that an above-average number of claims have been filed from Globe Life customers, most reporting issues getting questions answered from agents, extremely slow response rates, troubles with cancellation and, most importantly, delayed claims payments.

This is something to take seriously when considering Globe Life. The last thing you want as a buyer is to have your policy mishandled.

Pros & Cons of Choosing Globe Life Insurance

As with any company, there are pros and cons to consider before making your decision.

Pros for Globe Life

  • Globe Life Insurance makes it a lot easier for people with health conditions to qualify for high-risk life insurance coverage.
  • The Globe Life Insurance application is quite simple and no medical examination is required.
  • Globe Life has been praised for its financial strength and rated very highly by top organizations in this regard. Policyholders can rest easy knowing their provider is financially stable.

Cons for Globe Life

  • It’s more expensive than most other carriers. There is no reason anyone should buy a Globe Life Insurance policy if the price is a concern.
  • Although Globe Life advertises the simplified application process and no required medical examination, applicants can still be denied coverage after completing a survey in which they have to answer questions regarding their health.
  • Globe Life insurance’s rates aren’t level for life insurance. Your payments will go up every 5 years. By age 70, the cost gets prohibitive for most seniors to keep.
  • It can be difficult and at times frustrating to file a claim via Globe Life insurance according to consumers. The claims process can be incredibly slow.

Alternatives to Globe Life Insurance

Globe Life has a great introductory offer of $1, but after that, they aren’t competitive in the open market at all. It would be best to look at other companies to compare rates before purchasing a policy.

Here are the best alternatives to Globe Life Insurance.

Review our top 10 life insurance companies to see more carriers. We recommend completing the form on this page to compare rates from other well-respected life insurance companies that have some of the lowest pricing options on the market.