Globe Life insurance Company Review

Globe life has been sending life insurance offers via mail to middle-aged people and seniors for decades. In fact, They have been operating since 1951, and they now serve millions of policyholders. With an A+ rating from Am best, rest assured they will fulfill their promise to pay claims to your beneficiaries when the time comes. However, as we read and investigate further, we find a few limitations and exceptions on their coverage that may not be the best choice.

Most consumers stress over the thought of purchasing Life Insurance, the last thing a consumer needs when searching for the best products and pricing is an ad with small fine print and or a tricky agent promising “affordable” insurance. Globe Life Insurance Company has a handful of marketing pieces that all consumers should review thoroughly before buying life insurance,

1 dollar buys $50,000 of life insurance, really?

I know there are Dollar General Stores all over the country selling items for one dollar, but I don’t think that should translate into consumers believing they can actually get good cheap life insurance for one dollar. Globe Life Insurance offers the first month’s coverage for one dollar, and then subsequent months are priced based on age. I would never want to protect my children or wife in case of my early demise off of a one-dollar investment, would you? And would you feel comfortable planning a funeral on that same dollar? With technology today, it’s so easy to compare insurance by looking for a life insurance quote from an independent broker.

Some Globe Life Insurance rates and policies are not long-term level guaranteed premiums. The term pricing advertised for Globe Life Insurance is based on the first five years, and therefore you are only buying a five-year guaranteed price. Unless there is a need for only five years of coverage, pricing ten, twenty and in some cases thirty-year level term policies from В independent Life Insurance Companies for the entire level period are probably more affordable.

No exam applications?

For healthy folks, if you buy life insurance over the phone or through the mail and there are no medical records exchanged nor exams administered, you are buying a cheaper life insurance product in which every applicant is pigeonholed into a substandard risk class on a black and white approval basis. The no exam policies sold through Globe Life Insurance and other life insurance companies (Mutual of Omaha, Gerber, Americo) assume the consumer to be below average in health and therefore overcharge the healthy for coverage. The flip side is that some consumers are not in perfect health, and there are some circumstances in which a policy without physical or medical records makes sense. The best ammunition for the consumer is to compare life insurance quotes and shop.