When reviewing Globe Life Insurance, it is important to understand that you have options. At TermLife2Go, we work with dozens of top rated carriers. You can view some of our favorites by checking out our list of the top ten best life insurance companies and the top ten best no medical exam companies. And for those who are looking for burial or final expense insurance, consider our top ten best final expense companies. Give us a call today to see what we can do for you.
Disclaimer: We are not Globe Life. If you need to reach the company direct, please visit online at www.globeontheweb.com or call 1-800-811-3927.
2017 Review of Globe Life
Are you looking for Globe Life Insurance reviews? People also search for Global Life reviews. Either way, you have come to the right place. Please read on for our Globe Life review covering the positives, the negatives and the alternatives to Globe Life Insurance.
Globe Life Insurance Review – Pros & Cons
This Globe Life Insurance review will cover the following:
- The Pros to choosing Globe Life.
- The Cons to choosing Globe Life.
- And the Alternatives to Globe Life.
Globe Life Insurance Reviews
Excellent AM Best Rating
Any fair review of Globe Life and Accident Insurance Company will start with its strong financial presence and brand image. Globe has been around since 1951. That is a relatively short term as financial companies go but one thing Globe Life has going for it is its A.M. Best Company rating of A+. A.M. Best is the premier insurance ratings agency and Globe Life has one of its highest marks for financial strength.
Fixed Death Benefit
Globe Life will lock you into your face amount so you will not have to worry about your $25,000 life insurance policy only paying out $10,000. Your face amount is fixed for the life of your policy and will not be cancelled as long as you pay your premiums. That is great news for someone who is using their life insurance to pay for burial costs or to pay off various debts.
Another advantage of Globe is their pricing. Globe Life Insurance rates are competitive for the face amounts offered.
Sample Globe Life Insurance Rates
Term-to-age 90 rates for a male as of March 23, 2016
No Medical Exam
Globe Life also offers no exam policies, otherwise known as simplified issue life insurance. The application has just a handful of health questions. With all the benefits involved in avoiding an exam, you might find that you can get more bang for your buck with an policy that requires an exam.
Further, there are some non exam policies offered by different companies that are less expensive than Globe. So while not taking an exam can be seen as a positive for Globe, the negative is there are better non exam policies available if you are relatively healthy and don’t mind answering a few more health questions. See, Exam v. No Exam
Great Brand Name
Globe Life has a great brand name because Globe Life is a reliable life insurance company. Although not as widely known as State Farm, Prudential, or MetLife, Globe Life has done of good job of marketing and protecting the image of its brand name. As a result, many people choose Globe Life for their insurance needs.
Good Mix of Policy Options
Globe Life offers term life insurance policies to age 70, age 80, age 90 and Term to 100. Each term policy ends on the year that it expires with no renewal. Face amounts range from $5,000, $10,000, $20,000, $30,000, $50,000, $75,000 or $100,000.
Globe Life’s Final expense whole life insurance is available for $5,000, $10,000, $20,000, $30,000 and $50,000. The coverage lasts your whole life and offers a fixed face amount and fixed rate for the life of the policy.
Excellent Choice for Specific Clients
For clients with slightly below average health, Globe Life Insurance is a great fit, especially compared with the company’s two primary competitors: Colonial Penn and AARP. The Company does ask some health questions, but unless you are battling with some serious pre-existing condition, you should qualify.
As we discussed above, there are many pros to Globe Life. There really aren’t many negatives that we can think of when it comes to purchasing a Globe Life Insurance policy. After all, they have a great AM Best rating and really do have some great products. The only problem that we’ve run into is when folks end up purchasing a policy from Globe that they don’t fully understand.
Now is this a problem that is unique to Globe Life Insurance?
Certainly not, but because of the extensive product line Globe offers, we have encountered folks who have been confused about the specifics of their policy. In particular, we’ve found some folks have been confused about when they’re policy would end as well as if the premium for their policy would remain the same for the life of their policy.
Just be aware that premiums for term life insurance offered through Globe Life go up every five years.
For example, the term to 80 policy premiums increase at age 45, 50, 55, 60, 65, 70, 75, with the policy ending at age 80.
This may pose a problem for someone who is unaware that the policy ends or who bought the policy at age 60 and five years later the premiums go up. If you had planned on keeping the policy forever or if you did not budget for the increase in premium you may be gravely disappointed.
Your best alternative as a consumer who is seeking out Globe Life reviews because you are shopping for the best price on life insurance is to call an independent life insurance agency, like TermLife2Go. We represent dozens of top rated life insurance companies. If you call a specific company, such as Globelifeontheweb, you are limiting your options to that ONE company.
TermLife2Go has access to a variety of products, from Term Life to Universal Life to Whole Life. We understand the complex nuances associated with the different types of life insurance products and can fill you in on the important points to be aware of with each company and product. Options are the #1 way to save on the cost of insurance because you can align the right company with your specific health or lifestyle.
For example, we have a few specific companies to choose for diabetic life insurance. You certainly do not want to choose just any company if you have diabetes. That is how we differentiate ourselves from the competition—we focus on the various niches of each top life insurance company, providing custom tailored high risk life insurance options.
The bottom line is this: if you are considering Globe Life, why not give us a call and see if we can offer something better. If we cannot find you something better you can always choose Globe Life. However, if we can find a better offer we might be able to save you money and lock you into a policy that lasts the rest of your life.
We are an independent agency comprised of seasoned life insurance professionals focused on finding our clients the best company, with the best product, at the best price. We give you options and then make a recommendation based on what matters most—meeting your families needs!
If you have any questions, or would like some expert advice, please give us a call.
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