Globe Term Life Insurance Review and Comparison

Globe Term Life Insurance offers a range of term life insurance policies with coverage periods from 5 to 30 years.

You can choose from two types of term life insurance: Level Term and Decreasing Term. Level Term provides a fixed coverage amount throughout the policy term, while Decreasing Term coverage decreases over time.

Globe Term Life Insurance has a conversion option that allows you to convert your term life insurance policy to a permanent life insurance policy without a medical exam. This can be a convenient option if you want to maintain coverage beyond the policy term.

The policy's death benefit is paid out to your beneficiaries tax-free, providing financial support to those who depend on you.

For another approach, see: Decreasing Term Life Insurance

Globe Life Term Insurance rates can be found on their website, but they're not always easy to come by. You'll need to agree to receive rates by mail to get quotes for more coverage, and even then, the rates are only for the first 5-year period.

Related reading: Term Life Insurance Rates Canada

The cost of Globe Life Insurance varies widely, with a $50,000 policy costing as little as $28.15 per month for a 30-year-old male non-smoker in very good health. However, this rate can increase significantly over time, and the first month's premium is always $1.

Here's a breakdown of the factors that affect Globe Life's term life insurance rates:

Globe Life's term life insurance policies are designed to fit a range of budgets, but it's worth noting that no riders or conversion options are available.

Globe Life Insurance stands out in the crowded market of term life insurance as a provider that prioritizes affordability and flexibility. They offer competitive rates and customizable policies that fit varying budgets and needs.

Globe Life's straightforward application process makes securing a term life insurance policy hassle-free, allowing you to focus on what truly matters – protecting your loved ones' financial future.

With Globe Life, you can choose the coverage amount and term length that align with your life goals. This flexibility is especially important for those with unique circumstances.

Globe Life's transparent offerings allow you to make a confident decision about your family's protection without breaking the bank. This peace of mind is priceless.

Here are some of the policy types available from Globe Life:

Keep in mind that none of Globe's policies require a medical exam, but you may be required to answer health questions.

Globe Life's term life insurance rates are not easily found on their website, but we managed to get a quote for a $50,000 policy for $28.15 per month, with the first month costing just $1.

The actual price you'll pay will depend on your age, gender, state of residence, health, and the amount of coverage you buy. After the first month, the price could be as low as $10 monthly or as high as $500 per month.

Globe Life's term life insurance is available for eligible ages between 18 and 79, with face amounts ranging from $5,000 to $100,000, although maximum face amounts vary by age.

The first month's premium is a flat $1, after which the actual premium kicks in. You can expect your premiums to increase every 5 years, with no level premiums available.

Here's a rough idea of what you can expect to pay, based on Globe Life's rate charts and cost calculator:

Keep in mind that these are just rough estimates, and your actual premium will depend on your individual circumstances.

Globe Life offers a few life insurance policies, including term life, whole life, and final expense policies. None of Globe's policies require a medical exam, but you may be required to answer health questions.

Term life insurance is a popular option with Globe Life, offering flexible coverage lengths and customizable policies that fit varying budgets and needs. You can choose the coverage amount and term length that aligns with your life goals.

Discover more: Term Insurance Policies

Whole life insurance is another option available with Globe Life, providing permanent coverage that lasts forever. This type of insurance can be beneficial for those who want to ensure their loved ones are protected for the long-term.

Here are the policies available with Globe Life:

Globe Life's policies are designed to fit a range of budgets and provide peace of mind for your loved ones. By choosing the right policy, you can ensure your family's financial future is protected.

Globe Life's term life insurance policies are designed to provide financial protection for a specified term, ensuring that your loved ones are taken care of in the event of an untimely passing.

Globe Life offers flexible coverage amounts, allowing you to tailor your policy to meet your unique needs and budget. This flexibility is a key feature of working with Globe Life Insurance.

Globe Life's policies do not require a medical examination, which streamlines the application and approval process. This convenience is among the company's major selling points.

Here are some of the key benefits of Globe Life's term life insurance policies:

Globe Life insurance policies are no exam insurance policies, which makes for a quick cycle time for both the insured and the insurance company.

Globe Life focuses on a small selection of insurance products, which allows them to become very good at what they do. Their products include term life insurance, whole life insurance, accidental benefits death policy, cancer insurance, critical illness insurance, hospital insurance, and accident insurance.

Globe Life offers an unusual term policy with a five-year term that guarantees to renew up to age 90. After age 90, the policy stops, and no replacement coverage is available.

Globe Life's term insurance has a $1 premium for the first month, but after 30 days, the regular premium applies and increases every 5 years as you age into a new term.

Here are the specific insurance products offered by Globe Life:

Globe Life offers an unusual five-year term policy that's guaranteed to renew up to age 90, but stops coverage at that point with no replacement coverage available.

The application process is straightforward, often completed online without a medical exam, and policies are generally issued the same day.

Globe Life's policies don't require a medical exam, streamlining the application and approval process.

Here are some key features of Globe Life's term life insurance plans:

Globe Life's policies are designed to provide financial protection for a specified term, ensuring that your loved ones are taken care of in the event of an untimely passing.

The company offers flexible coverage amounts, enabling you to tailor your term life insurance policy to meet your unique needs and budget.

Globe Life has more than $92.5 billion of insurance in force, and has been helping individuals and families since 1951.

The company has received one of the highest national industry ratings – A (Excellent) Financial Strength Rating from A.M. Best Company.

Here's an interesting read: A Life Insurance Company Sells a Term Insurance Policy

Globe Life has received an A+ (Superior) rating from A.M. Best and an AA- rating from Standard & Poor’s, indicating its financial stability.

The company's long-term issuer credit rating is "stable", according to both A.M. Best and Standard & Poor’s.

Globe Life has an A (Excellent) rating from AM Best, which means it's in an excellent position to honor its ongoing insurance obligations.

Globe Life earned a score of 812 in J.D. Power's 2022 U.S. Individual Life Insurance Study, placing it second out of 22 companies.

Here are some key ratings and rankings that demonstrate Globe Life's financial strength and customer satisfaction:

Globe Life has more than $92.5 billion of insurance in force, demonstrating its ability to meet its financial obligations.

Assess your financial obligations and future needs to determine the appropriate coverage amount for your Globe Life term life insurance policy.

Consider factors such as your age, health status, and the length of coverage you desire when selecting a policy that suits your lifestyle and financial goals.

Globe Life's term life insurance policies are designed to fit a range of budgets and provide peace of mind for your loved ones.

Assess your financial obligations and future needs to determine the right coverage amount.

Globe Life's term life insurance policies are designed to fit a range of budgets and provide peace of mind for your loved ones.

Consider your age and health status when choosing a policy. This will help you determine the right coverage amount and length.

Researching the best term life insurance options available will help you identify a policy that suits your lifestyle and financial goals.

Consult with a Globe Life representative to clarify any questions you might have and ensure you're making an informed decision.

Taking the time to understand your choices will help you confidently select a Globe Life term insurance policy that offers the protection your family deserves.

Does Globe have a waiting period? Globe Life Insurance has no waiting period, which means you'll be fully covered from the day you make your first payment.

This is a significant advantage, especially if you're looking for immediate protection. You'll qualify for coverage once your application is approved, and you'll be able to make a payment to start your policy.

The approval process involves answering questions about your health history, so be prepared to provide some personal information.

If you're considering Globe Life Insurance, it's essential to weigh the pros and cons. Globe Life stands out for its affordability and flexibility, offering competitive rates and customizable policies that fit varying budgets and needs.

Globe Life is an excellent choice if you need a small amount of term life insurance, specifically $20,000 or less. They also offer excellent life insurance for children.

However, if you need term life insurance, you might find better options elsewhere. For instance, Americo offers term life insurance at a lower cost with a fixed rate for the life of the policy.

If this caught your attention, see: How Much Term Life Insurance Should I Have

If you're looking for whole life insurance, Foresters Financial might be a better choice, offering traditional whole life insurance at a potentially lower cost. Similarly, Transamerica offers universal life insurance.

Here are some alternatives to consider:

Globe term life insurance has several advantages that make it an attractive option for many individuals. One of the major benefits is same-day coverage, where Globe Life generally issues policies on the same day the customer completes the application.

Globe Life's policies don't require a medical exam, which streamlines the application and approval process, making it more convenient for customers. This convenience is among the company's major selling points.

Globe Life has a high customer satisfaction rating, ranking second out of 22 companies in J.D. Power's ranking of individual life insurers for customer satisfaction. This indicates that Globe Life prioritizes customer satisfaction and transparency.

Here are some key pros of Globe term life insurance:

Globe Life's policies are issued the same day you complete an application, making it a convenient option for those who need coverage quickly.

This streamlined process is a major selling point for the company, and it's one of the reasons why Globe Life stands out from the competition.

One of the benefits of Globe Life's policies is that they don't require a medical examination, which can be a hassle for some people.

This means that you can get approved and start enjoying the benefits of your policy without having to go through a lengthy medical evaluation process.

Globe Life has a high customer satisfaction rating, coming in second out of 22 companies in J.D. Power's ranking of individual life insurers.

Suggestion: Mutual of Omaha Term Life Insurance No Medical Exam

Globe Life's policies have some significant drawbacks.

Their policy offerings are limited to term and whole life insurance, with very few riders available. This means you'll have limited flexibility if you need to customize your coverage.

If you want to get a quote, you'll need to share some personal data, including your name, mailing address, and email address. This can be a concern for those who value their online privacy.

Globe Life's policies also have relatively low maximum coverage amounts. For example, their term policies are capped at $100,000, which is significantly lower than many competitors.

Their website doesn't provide a wealth of information about their policies and payment methods.

You can contact Globe Life Insurance through their website at globelifeinsurance.com, or by calling them at 800-333-0637 during normal business hours.

The company's main office is located at 3700 S. Stonebridge Dr., McKinney, TX 75070.

Globe Life Insurance Company of New York has a separate office at 301 Plainfield Rd, Suite 150, Syracuse, NY 13212.