Globe Life Insurance Review 2021 • Feature Guide • Benzinga

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Are you looking for life insurance from Globe Life Insurance? Learn more about their coverage options and features in our review.

Globe Life Insurance Coverage Options

Global Life Insurance offers term and permanent life insurance for the whole family. Types of coverage include:

  • Lifespan for adults: Globe Life offers term life coverage with no waiting period of $ 5,000 to $ 100,000 for periods of 10 to 20 years. Coverage is available without a medical examination and with a 30-day money-back guarantee. Term life insurance policies are available for adults aged 18 to 79.
  • Lifetime for adults: Whole life coverage starts at $ 5,000 and goes up to $ 50,000, with premiums remaining constant throughout the life of the policy. Whole life insurance policies create cash value with the loans available as long as the premiums are up to date.
  • All of life for children: Whole life coverage for children starts at $ 5,000 and reaches a maximum of $ 30,000. Children and grandchildren aged 0 to 25 are eligible. Coverage begins on the first day with no waiting period.

Jumpers available

Globe Life offers a number of limited but exceptional riders:

  1. Duration of children up to 25 years: Term and whole life policyholders can add up to $ 10,000 in coverage for a dependent child aged 30 days to 23 years. You can convert to whole life insurance before the child’s 25th birthday.
  1. Expedited benefit for terminal illness: Some policyholders in some states can access up to 50% of their benefits if they contract a terminal illness.
  1. Premium waiver: Waiver of premium is available in some states on certain policies for policyholders who become permanently disabled. This function is only available if the policyholder has added the premium waiver rider to their policy before the event. The rider certificate expires on the policyholder’s 60th birthday.

Globe Life sells its products by phone directly to the customer. Policyholders have the option of managing their accounts online via the company’s eService Center. For customers on the go, it also offers a mobile application. The only downside is that there is no live chat and emails are not answered quickly.

Advantages:

  • Direct sales to the customer
  • Online account access
  • Mobile application option

The inconvenients:

  • No live chat
  • Long waiting times over the phone
  • Late replies to emails

Since the company deals directly with the customer and offers quick and easy methods to access policy information, but customers sometimes experience extended contact times, Benzinga rates it 4 out of 5 stars for customer service.

Although Globe Life offers $ 1 coverage for the first month, adult term life insurance policies are relatively expensive. Actual premiums are higher than the $ 2-3 advertised on the company’s website. Globe Life’s average is sometimes higher than the industry average, although for adults in their 50s, coverage can be up to 30% less.

Globe Life is an excellent introductory provider, however. Lower death benefits are perfect for those looking for the bare minimum.

Advantages:

  • Low cost for the first month
  • Money back guarantee
  • Better than the industry average for customers in their 50s

The inconvenients:

  • Overall, rates are sometimes higher than the industry average.
  • Premiums increase at renewal.
  • Limited benefits are available for those over 60.

Although Globe Life premiums are sometimes higher than the industry average, policies are available for a few dollars a month for children. Combine that with the 30-day, $ 1 first-month money-back guarantee, and Benzinga awards Globe Life 4 stars for the price.

While Globe Life still enjoys doing business in person – on the phone – it has a mobile app for its customers on the go. The mobile app gives customers easy access to all of its police information and quick quotes with minimal information entry for potential customers.

Advantages:

  • Available on Google Play and iTunes
  • Easy to use
  • Comprehensive policy management

The inconvenients:

  • Connectivity issues
  • Difficulty connecting
  • Update difficulties

Despite sometimes slow connectivity, Benzinga loves the Globe Life mobile app. Nothing fancy, but it gets the job done. For this reason, the Globe Life mobile app is rated 4 out of 5 stars.

Globe Life specializes in adult term life insurance. Rate for a healthy, non-smoker man aged 25 and over with average term life insurance coverage:

  • 25 – $ 30.75
  • 35 – $ 44.50
  • 45 – 68.50 $
  • 55 —-107.50 $

Globe Life offers more than just a whole and temporary life:

  1. Life insurance in the event of accidental death: Coverage that pays for unforeseen death such as work-related accidents or car collisions.
  1. Mortgage protection insurance: This type of insurance pays off your mortgage in the event of death. It is different from term life insurance in that it makes payment directly to your mortgage company.
  1. Complementary health insurance: If you’re 65 or older, you know Medicare doesn’t pay 100% of your medical bills. Close the gaps with Globe Life Medicare Supplemental Insurance.

Benzinga loves Globe Life’s menu of offerings, such as Whole Life and Temporary, as well as the entire user experience through its website and mobile app. The Globe Life site offers:

  • Online quote
  • Info by postal mail option
  • Direct connectivity with the agent
  • Connection to the interface
  • Complete information on all products

Make your payments or even initiate a claim online. Informative articles explain all the different products and benefits offered by Globe Life.

If you prefer to use your portable device, the Globe Life mobile app offers the same great options as its website. Make payments or claims; even discover new benefits with the Globe Life mobile app. Benzinga rates Globe Life user experience at 4 stars.

Globe Life’s term compared to competitors

Globe Life offers term life insurance at $ 1 per month for the first month. It also offers a 30 day money back guarantee. This feature gives the customer time to decide whether the policy is for him or not.

Although Globe Life policies start at $ 5,000 and reach a maximum of $ 100,000, they are quick and easy to initiate with little down payment. Although death benefits are low compared to the competition, premiums can be as low as $ 3 per month. A simple subscription offers a quick turnaround time and contracts are effective immediately. However, the cost increases every 5 years can be substantial.

Despite substantial increases every 5 years and premiums above the industry average before age 50, Benzinga likes Globe Life’s term policies because they are easy to access and come with a guarantee of refund. Coverage is available without a medical examination for term life coverage, and policies are in force for up to age 90.

Advantages:

  • Money back guarantee
  • $ 1 for the first month
  • Low death benefits mean low premiums

The inconvenients:

  • Above-average premiums
  • The premium increases every 5 years
  • Low maximum death benefits

Benzinga likes Globe Life as an entry point for term life insurance coverage. Its 30-day money-back guarantee and cost of $ 1 for the first month are perfect for entry-level customers. If you are looking for more modest death benefits at a lower cost, Globe Life is for you.

Get started with Globe Life term life insurance

If you’re not looking for a million dollar policy, but just the basics to make sure you and your family are covered, then Globe Life is the right company for you. Globe Life allows you to quickly and easily purchase a term life insurance policy with benefits ranging from $ 5,000 to $ 100,000.

Globe Life offers a 30 day money back guarantee, monthly premiums as low as $ 3 per month and the first month for just $ 1. Call or visit the Globe Life website today to get your free quote.

For more information, check out the wide range of insurance articles at Benzinga.

Frequently Asked Questions

Does Globe Life offer term life insurance for children or only for adults?

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Does Globe Life offer term life insurance for children or only for adults?

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Philip Loyd, Licensed Insurance Agent

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Unfortunately, term life insurance is not available for children. Term and whole life policyholders, however, can add up to $ 10,000 in coverage for a dependent child aged 30 days to 23 years with the Term Children to 25 rider. You can convert the contract into whole life insurance before the child’s 25th birthday.

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Benzinga

Does Globe Life insure children with whole life insurance up to $ 100,000?

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Does Globe Life insure children with whole life insurance up to $ 100,000?

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Philip Loyd, Licensed Insurance Agent

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Although children are eligible for whole life coverage, the maximum death benefit is only $ 30,000. This amount may not be as high as in other companies, but maintaining a lower death benefit also helps keep premiums lower. Insure the children for a few dollars a month.

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Benzinga

When you need life insurance, look no further than Sproutt. The company can offer you lower rates depending on your lifestyle, preferences and needs. Sproutt doesn’t forget real people along the way. Instead, it allows for a seamless and seamless way to match you with the insurance coverage that matches your needs.

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