Are you thinking about getting life insurance? Globe Life is a popular choice for many people because of its affordable rates and straightforward policies. In this review, we’ll give you an in-depth look at Globe Life Insurance to help you make an informed decision about whether it’s the right option for you.
About Globe Life Insurance
Globe Life Insurance was founded in 1951 and is headquartered in McKinney, Texas. The company has an A+ rating from the Better Business Bureau and has been accredited by them since 1952. Globe Life offers a variety of life insurance policies, including term life insurance and whole life insurance.
One of the unique features of Globe Life is that they offer a no medical exam option, which means that applicants can get coverage without having to undergo a physical exam. This is a great option for people who may have health issues or for those who don’t want to go through the hassle of getting a medical exam.
Globe Life Term Life Insurance
Term life insurance is a type of coverage that provides a death benefit for a specified period of time. Globe Life offers term life insurance policies with coverage amounts ranging from $5,000 to $100,000. The term lengths available are 5, 10, 15, 20, and 30 years.
The premiums for Globe Life’s term life insurance policies are fixed and will not increase for the term of the policy. The application process is simple and straightforward, and applicants can get coverage without having to undergo a medical exam.
One downside of Globe Life’s term life insurance policies is that they are not renewable. This means that once the term of the policy is up, you will have to reapply for coverage. If you have developed any health issues during the term of the policy, it may be more difficult or expensive to get coverage again.
Globe Life Whole Life Insurance
Whole life insurance is a type of coverage that provides a death benefit for the entire lifetime of the policyholder. Globe Life offers whole life insurance policies with coverage amounts ranging from $5,000 to $50,000.
The premiums for Globe Life’s whole life insurance policies are fixed and will not increase for the lifetime of the policy. The policies also have a cash value component, which means that you can borrow against the cash value or surrender the policy for its cash value.
One downside of Globe Life’s whole life insurance policies is that they may be more expensive than other types of life insurance, such as term life insurance. Additionally, the coverage amounts may not be sufficient for everyone’s needs.
Globe Life Insurance Rates
Globe Life Insurance is known for its affordable rates, which make it a popular choice for many people. The exact rates for a policy will depend on several factors, such as the applicant’s age, health, and coverage amount.
The rates listed in the table above are for illustration purposes only and may not reflect the exact rates that you will receive. To get an accurate quote, you can visit Globe Life’s website and fill out an application.
Globe Life Insurance FAQs
Is Globe Life Insurance a good company?
Yes, Globe Life Insurance is a reputable company with an A+ rating from the Better Business Bureau. The company has been in business for over 70 years and offers affordable life insurance policies.
What is the process for getting coverage with Globe Life?
The application process for Globe Life is simple and can be done online. Applicants will need to provide basic information about themselves, such as their age, gender, and coverage amount desired. In some cases, applicants may need to undergo a medical exam.
How long does it take to get coverage with Globe Life?
The exact time it takes to get coverage with Globe Life will depend on several factors, such as whether a medical exam is required. In general, the process can take anywhere from a few days to a few weeks.
What if I need to cancel my policy?
If you need to cancel your Globe Life policy, you can do so at any time without penalty. However, if you have a whole life insurance policy, you may lose any cash value that has accumulated.
Can I increase my coverage amount?
Yes, you can increase your coverage amount with Globe Life by applying for a new policy. However, keep in mind that your rates may increase as well.
Does Globe Life have a customer service department?
Yes, Globe Life has a customer service department that can be reached by phone or email. The company also has a comprehensive FAQ section on its website.
Globe Life Insurance is an affordable and reliable option for people who are looking for life insurance coverage. The policies are straightforward and easy to understand, and the no medical exam option makes it a great choice for people who may have health issues. While the coverage amounts may not be sufficient for everyone’s needs, Globe Life is a good option for people who are on a budget. If you’re interested in getting coverage with Globe Life, be sure to visit their website and get a quote.