Globe Life Insurance Reviews: What You Need to Know

When it comes to affordable life insurance, Globe has created a niche in the market with lower-than-average premiums. The Dallas-based insurer also offers policies through subsidiaries like American Income Life, United American, Family Heritage Life and Liberty National Life. 

What Products and Services Does Globe Life Insurance Provide?

Globe provides both whole and term life insurance options. 

Term Life Insurance

Term policies start at $5,000 and increase in $10,000 increments to the limit of $100,000. Coverage maximums span 5 years, designated by age bracket. With each initial term ending, consumers move into the next age bracket for term life coverage. 

Term coverage stops at $50,000 in New York state. 

Whole Life Insurance

A medical exam is not required for whole life customers; however, note that the company will ask some pointed health questions. Whole life payouts generally range between $5,000 and $50,000. Cash value grows over the life of the policy but is not added to the death benefit. 

Age restrictions for children may vary according to state but are available for consumers 25 and younger. Globe pays out up to $30,000 in child life benefits. 

The Pros and Cons of Globe Life Insurance

Pros

• No Medical Exam: For consumers looking for coverage in a pinch, Globe does not require a medical exam as a condition of coverage for its policies.
  
  
• Affordability: Globe's premiums for life insurance are among the most affordable in the industry, making this company a favorite with low-income consumers and young families. 
• Policies for Children: It is hard to find an insurance company that offers adult and kid policies under the same umbrella, but Globe has just such an option. The whole life policy geared towards kids provides parents with a long-term insurance option for their little ones.

Cons

• Few Riders: Riders are ideal to customize an insurance policy, so the lack of options through Globe makes it hard for consumers to get exactly what they want. 
• Lower Than Average Death Benefits: Compared to the industry average, Globe's death benefit payout is fairly low, which is a drawback for some consumers. 

What People Are Saying About Globe Life Insurance

Customer reviews emphasize the high quality of customer service that Globe offers, mentioning time spent educating consumers and discussing policy options. Reviews also mention the ease of the claims process. Affordability, diversity in plan options and availability are also positive marks offered to the company in reviews. 

The few areas where consumers expressed displeasure with Globe included the reinstatement process for lapsed policies and aggressive sales team members. 

Who Would Globe Life Insurance Be Good For?

Globe Life Insurance is a good fit for those that require affordability in their life insurance policy. Because it has a children's component, young families might benefit from the affordability factor as well as the range of policy choices. 

Consumers that want to forgo a medical exam as a condition of coverage might also opt for a Globe Life Insurance policy, as the company does not require one to purchase a policy.