Globe Life Insurance Review 2022

Globe Life Insurance Review 2022
Globe Life Insurance Review 2022
Globe Life offers term and life insurance without a medical exam, but the coverage limits are significantly lower than standard life insurance policies. Term life insurance interest rates increase with age in five-year periods. The company's high rate of complaints should be taken into account when making your purchase decision.


  • No medical exams are required for Globe Life insurance policies.

  • Very many complaints about Globe Life insurance. 
  • Term life insurance rates increase every five years, and Forbes Advisor could not find disclosure of renewal rates.
  • You may find higher coverage limits and fixed rates for a longer period of time with other companies.

About Globe Life Insurance

Globe Life specializes in life insurance and other insurance products for middle-income Americans. It has more than $91 billion in insurance in place. In a 2021 yin the D. Power study, Globe Life ranked sixth in overall customer satisfaction out of 21 individual life insurance providers.

Types of Life Insurance

Sold by Globe Life sells term, whole life, children's life and accidental death insurance. In addition, it offers end-of-life insurance (also called death insurance) and mortgage protection insurance.

Globe Life does not require medical screening for its life insurance policies.

Globe Life term life insurance At Globe Life, terms of term life insurance generally range from one to 30 years. The company's term life insurance policies are available in coverage amounts of $5,000, $10,000, $20,000, $30,000, $50,000, $75,000 and $100,000. In some states, you may not be able to purchase more than $50,000 in coverage if you are 60 years of age or older. First month of Globe Life coverage is $1 for term life insurance, after that your rate is based on your age. For example, here are Globe Life's monthly life expectancy rates for a 50-year-old man after the first month for $1.

Globe Life Term Insurance Rates for a 50-Year-Old Male

Coverage Amount - Starting Monthly Rate After First Month (Rate Increases Begin After Five Years)
$5,000 - $8.43
$10,000 - $12.49
$20,000 - $20.61
$30,000 - $28.73
$50,000 - $44.96
$100,000 - $85.55
$75,000 - $65.26

Unlike life insurance grade term insurance, Globe Life's term life insurance rates are based on your issuance age and then the premiums increase as you enter each new five year renewal period. The Company's Term Life policies expire when the insured person turns 90 years of age.

Globe Life Whole Life Insurance

Whole Life Insurance, also known as permanent life insurance, protects you for life. It pays your beneficiaries a death benefit after your death and builds cash value. Term life insurance usually costs more than term life insurance. Globe perpetual life insurance coverage options are $5,000, $10,000, $20,000, $30,000, and $50,000.

Globe Child Life Insurance

A parent or grandparent can take out Globe Child Life Insurance to cover a child or grandchild. The policy pays a death benefit and builds a cash value over time. Coverage options are $5,000, $10,000, $15,000, $20,000, $25,000 and $30,000. After the first month of insurance, the tariffs are based on the current age of the child and remain the same for life.

Globe Life End of Life Insurance

End of life insurance, also known as funeral insurance, is primarily intended to cover funeral expenses, small unpaid debts or even loss of income in the event of death. Globe does not require a health check for its final cost insurance. Coverage options are $5,000, $10,000, $20,000, $30,000, $50,000 and $100,000.

Globe Life Mortgage Protection Insurance

Globe Life Mortgage Protection Insurance covers mortgage payments if the insured person is killed or dismembered (e.g. hand, foot or eye) in an accident. No medical examination required.

For each year that your mortgage protection insurance is in effect, the death benefit increases by 5% of the original death benefit until it reaches 125% or until you reach 70 years of age, whichever comes first. If you take out the Family Plan, Globe Life will pay an additional 10% on top of your mortgage insurance death benefit if your child is between the ages of 15 and 22 at the time of your covered accident.

Globe Life Accidental Death Rider

Globe Life allows you to purchase an Accidental Death Rider for your whole or term life insurance policies. This driver pays out additional life insurance if the insured person is accidentally killed. Deaths from illnesses such as cancer or heart disease would not be covered by this Accidental Death tab.

Globe Life No Exam Policies

Many insurance companies now offer no exam life insurance. At Globe Life, none of their life insurance policies require a medical exam:

  • Term Life Insurance: Coverage up to $100,000
  • Whole Life Insurance: Coverage up to $50,000
  • Children's Life Insurance: Coverage up to $30,000

Complaints about Globe Life and Accident Insurance Co.

The level of complaints above Globe Life personal insurance was more than five times the industry average in 2021, according to data from the National Association of Insurance Commissioners. In 2019 and 2020, Globe Life received more than six times the industry average number of complaints.

In 2021, Globe Life's top individual life insurance complaints focused on delays in claim payments and late or unresponsive service to policyholders. There have also been issues with policy cancellations and claims being denied. The complaint rate for Globe Life group life insurance (for jobs) was also consistently above the industry average.

In 2019, Globe Life agreed to pay a fine of up to $4.5 million in a federal review of market regulation related to its 2011-2013 group life business. As part of the settlement, Globe Life admitted no liability. States identified issues related to pricing, marketing, and sales activities.

This was not Globe Life's first run-in with state insurance regulators. The New Jersey Department of Banking and Insurance reviewed Globe's advertising and marketing materials in 2007 and 2008. The reviewers found problems with 188 of the 190 advertisements reviewed. For example, 68 ads for Globe Life showed that the company had "more than 3.3 million satisfied policyholders," but Globe had no documentation to support that claim.

History of Globe Life Company

Globe Life was founded in 1951 as Globe Life And Accident Insurance Co. In 1980, it was acquired by Liberty National Life Insurance Co. and a holding company called Torch mark Corp. accepted. Torch mark changed its name to Globe Life Inc. in 2019.

Globe Life's insurance subsidiaries include American Income Life, Family Heritage Life, Globe Life and Accident Insurance Company., Liberty National Life and United American. In August 2021, the Company acquired Beasley Benefits, a workplace benefits provider.

Globe Life Charities

Globe Life's Make Tomorrow Better program contributes to local and national organizations, with a focus on organizations that serve underserved youth and families, benefit low-income and struggling seniors, and promote health and well-being.

For example, in 2020, Globe Life donated $20,000 to Operation Gratitude, a nonprofit organization that supports active-duty military, military veterans, and first responders. In addition, the company's volunteers made 1,200 hygiene kits for military, military and first responders and filled 150 Battalion Buddy bears for the children of military members on the ground. 

Globe Life Quick Facts

Headquarters: McKinney, Texas
How to Buy Globe Life Insurance Globe Life policies are available online, over the phone, through an agent, or by mail.
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