Don’t Buy Globe Life Insurance Without Reading This Article!

life insurance, rates, globe life insurance

Most consumers cringe at the thought of purchasing life insurance. Why? The last thing a consumer needs when searching for the best products and pricing is an advertisement with tricky fine print or a misinformed agent promising cheap insurance. Globe Life Insurance Company has a handful of marketing pieces that all consumers should review thoroughly before buying life insurance. (We also have reviews available for companies such as New York Life Insurance should you be interested.)

Many also believe that they should not even attempt to purchase life insurance because of their smoking habits. That’s not the case! In fact, we can help you find affordable life insurance for smokers!

Consumers should review all marketing from Globe Life Insurance in depth and compare with other companies before making a decision. Ensure you are getting the best product and price seek out an independent life insurance broker who can help you obtain multiple free life insurance quotes.

Below, we go over several key pieces of information about Globe Life Insurance. Read on to get informed.

Globe Life Insurance Facts to Know

  • $1 buys $50,000 of life insurance… really? I know there are Dollar General stores all over the country selling items for $1, but you shouldn’t believe that you can actually get good life insurance for $1. Globe Life Insurance offers the first month’s coverage for $1. Subsequent months are priced based on your age. The small price to pay may actually translate into a big price to pay. What does that $1 truly cover? I would personally never feel that my family was protected by a $1 investment in the unlikely event of my early demise. Would you feel comfortable planning a funeral on that same dollar?
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  • 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 5 years; therefore, you are only buying a 5-year guaranteed price. Unless you only need 5 years of coverage, it is more affordable to price 10-, 20-, and in some cases, 30-year level term policies from companies like Banner Life Insurance or Snoopy at Met Life, which guarantee rates for the entire level period. As an example, when pricing $50,000 of 20-year level term with Banner (I am a preferred best risk), I qualify for rates under $11 per month. These will remain level for 20 years. Globe Life charges $36 per month for their cheap term life insurance. Nowhere on their website is it written that this price is only good for 5 years, when it increases! Before you obtain a quote from any company, you should contact us to help you better understand what your quote actually means.
  • No exam applications.  This is for you healthy folks! If you buy life insurance and there are no medical records exchanged nor exams administered, you are buying a cheaper product in which every applicant is pigeonholed into a substandard risk class on a black & white approval basis. The no exam policies sold through Globe Life and other companies (Monumental Life, Colonial Penn, Fidelity Life) assume the consumer to be below average in health. Consequently, they overcharge healthy people for coverage. The flip side is that some consumers are not in perfect health. There are some circumstances in which a policy without physical or medical records makes sense. The best consumer ammunition is comparing insurance and shopping around. Find an independent life insurance broker who can provide multiple life insurance quotes. We offer free quotes right here on our website.

Always Compare Rates With a Licensed Independent Life Insurance Broker

globe life insurance

  • Compare rates with a licensed independent life insurance broker. When a consumer contacts a company like Globe Life Insurance, the consumer only gets Globe Life Insurance Quotes. If the same consumer calls an independent life insurance broker like me, the consumer will get rates from all the life insurance companies which allow them to compare insurance, avoid getting cheap life insurance, and review quotes from all the top insurance companies in the world.

When shopping for life insurance it’s best to compare multiple companies such as Primerica Life Insurance CompanyNew York Life and AARP. Globe Life Insurance Company is one of many that use marketing pieces that all consumers should review in depth to compare before making their next purchase. In order to insure that you are getting the best product and price seek out an independent life insurance broker who can help you obtain multiple free life insurance quotes.

When a consumer contacts a company like Globe Life Insurance, the consumer only gets Globe Life Insurance quotes. If the same consumer calls an independent life insurance broker – like Goldsmith Insurance – the consumer gets rates from all companies. This allows them to compare insurance, avoid choosing the wrong company, and review quotes from all the top insurance companies in the world.

Look before you leap. Call Goldsmith Insurance and get the best coverage for the best price. Don’t sign your name until you check with us first!

With technology today it’s so easy to compare insurance by looking for a life insurance quote from an independent broker. Have you thought about if your parents have planned for their funeral costs?  Our agents can help you whether you are purchasing insurance for you or your parents.

Broader Information on Globe Life Insurance Company

While their marketing leaves something to be desired, it is important to know more about the company.  Here is the best information we can give you.

History

Globe Life and Accident Insurance Company has been in the business of offering life insurance products to its customers since 1951. For more than 65 years, Globe Life has grown and built its solid reputation by paying out claims and helping families move forward after the loss of a loved one.

The company began when two individuals pooled a $60,000 start-up investment of borrowed capital. They wanted to offer the best accident and health insurance to rural Oklahoma. The company has grown to be one of the more reputable carriers in the marketplace.

Globe Life currently holds more than $69 billion in insurance in force. It has more than 3.9 million policyholders. Because of its solid financial standing and great payout reputation, Globe Life and Accident Insurance Company has very high ratings.

Testimonial for Goldsmith Insurance

“It was great to work with you. I really appreciated that you were not overbearing and trying to sell me on things I did not want or could not afford. You listened to me and then respected that I wanted a few weeks to think about it. There were no follow up phone calls to pressure me. It was also nice to not get that used car salesman slimy feeling from our conversations. You were very knowledgeable, professional and helpful, but let me come to my own decisions. I would absolutely work with you again in the future as our needs change and would recommend you to others.” – Wendy

 

Products Offered Through Globe Life

Globe Life and Accident Insurance Company offers a wide variety of products for its customers. These include life insurance for both adults and children, as well as Medicare Supplement coverage. Globe life offers both term and whole life insurance protection to adults.

Life Insurance for Adults

With term life insurance, policyholders are offered pure death benefit protection at an affordable premium price. In fact, Globe Life and Accident Company offers a cost of only $1 for the first month on term life insurance protection for coverage of $5,000, $10,000, $20,000, $30,000, $50,000, $75,000, or $100,000. After the first month, the premium rate is based on the policyholder’s age at the time of policy issue.

With these term life insurance plans, the rate never increases during the policy period. The application process is easy and quick. There are only a few health questions you must answer. These plans also offer a 30-day money-back guarantee. If you are not satisfied with the policy for any reason, you can return it within the first 30 days, and Globe Life will refund your paid premium.

With a whole life insurance policy, a policyholder will obtain death benefit protection, along with a cash value component. The cash value is allowed to grow on a tax-deferred basis. This means that the gain in the cash value is allowed to increase without being taxed – until the time it is withdrawn. This can allow these funds to grow and compound exponentially over time.

Life Insurance for Children

For those who wish to protect their children with life insurance coverage, Globe Life and Accident Insurance Company also has plans for kids. The Young American Plan is a whole life insurance policy that will protect a child for up to $25,000 in coverage that will also build up cash value within the policy. This is cash value that grows on a tax-deferred basis – allowing the child a saving for the future that will not be taxed on the growth until the time it is withdrawn.

Your first month’s premium can be paid for only $1. After that, the rate will be based upon the child’s age at the time of policy purchase. Then, the rate will be locked in and guaranteed to never increase – regardless of the child’s increasing age or any change in health down the road. And, as with Globe Life’s other life insurance plans, the Young American Plan also comes with a 30-day money-back guarantee.

Accidental Death Coverage

For policyholders who wish to increase their coverage in the case of an accident, Globe Life also offers Accidental Death coverage. Those who are between the ages of 18 and 69 can lock in their coverage. Acceptance is guaranteed. These individuals can obtain up to $250,000 in added protection. There is no medical exam necessary, and the premiums on this coverage are guaranteed to never go up.

Mortgage Protection Insurance

Many individuals purchase life insurance for the purpose of paying off large debt such as their mortgage. For this reason, Globe Life and Accident Insurance Company offers mortgage protection insurance. If, due to an accident, a policyholder is suddenly unable to pay their mortgage payment, having up to $350,000 of accidental death coverage can be a great help to their loved ones. With this policy, the premiums will never go up – for any reason. Acceptance is guaranteed if the policyholder is between the ages of 18 and 69.

Contact Goldsmith Insurance to Get Your Free Quotes Today!

Goldsmith Insurance understands that the process of finding the right life insurance can be confusing. Don’t worry – we are here to help you. We will find what’s perfect for you and your family at an extremely affordable price. Call us at [phone] or contact us online today!

27 Responses to Don’t Buy Globe Life Insurance Without Reading This Article!

  1. My wife just found out that with Globe Life reading the unwritten fine print is essential. She has been paying premiun on her mom for many years. To her surprise it was term that expire at age 80.

  2. i have had globe life on my son since he was about 8 or so my mother started it on my 2 children and in her passing i carried over to me to pay just recently they would send me my premium and on there they would say up your policy 5000. more for just a few dollars more so i did i had gotten 25,000. on my son and in August of 2012 he had a car wreck and was killed but they are fighting me on my other 10,000. they say they have to do further medical records and investigate that wasn’t in the contract if they do not honor the rest of my money i will not recommend them to anyone

  3. I am writing thos while on hold for a service agent at Globe Life. I have been on hold for 36 minutes and still waiting to pay my premium on line. I am getting mpre furious as i wait wondering whyi have to take this abuse to pay someone. I will be giving says:

    It has now been 45 minutes and still holding and about to give up. By the way I was in the Insurance business for over 50 years and just to let you know that part of selling is not only the product but includes service. I think that you have not met at least50% of the requirements. Thank God for independent agents for service, knowledge and product information.

  4. I have been a customer of Globe Life Insurance Company since 2007. I am now looking at other insurance companies. Every phone call made to Globe Life Insurance has been a 20-55 minute wait before reaching a phone agent. Globe Life has “misapplied” my payments over 3 times. I do not recommend Globe Life Insurance.

  5. globe life crooked company. had life insurance on my daughter. she died heart failure and was in good health before she died,globe life wont pay funeral home.DONT BUY LIFE INSURANCE FROM GLOBE

  6. I WAS GOING TO GET GLOBE INS. FOR MY FAMILY, AFTER READING SO MANY COMPLAINTS ABOUT THIS COMPANY I WANT TO THANK EVERY ONE FOR KEEPING MY FAMILY AND I FROM MAKING THE SAME MISTAKE

  7. Thank goodness people get on here and expose this crooked company, saving others a great loss of time and money! Thanks to all for posting!

  8. A frien d of mine had a policy thur Globe life, , he became I’ll and past last month paid into this company for three years…we had to scrape to have a service. But such is the way of large companies they get rich on the backs of the poor. And to the customer service clerk who was rude, I pray for you.

  9. WOW!! Thank you are for taking the time to write what you are went through with Globe life insurance. I received a request to join Globe through the mail. It sounded great until I got on here and did little homework. Thank you all for saving me the hassle, the pain and money. USMC Retired

  10. Received app for mortgage ins from globe (they gleaned the info from public records in my state) The cost was very low for $60,000 but while reading the small print I saw that the benefits were guaranteed never to be reduced until age 70. Hell, I’m 72 now! so I’m not even eligible (guess they can’t get your age from public records) This is the 3rd company that I have received information from (one was to reduce the payment amount) Anyone can pay to get your info from public records at your local courthouse. (you can get the info too – if you want to pay) I think this is scandalous the our information has a price – if they can pay – they can get it.

  11. Thank you for posting this . I was filing out the form for Globe life Ins. And decided to look up website information and I came across this review list. After hearing so many “real ” people add their responses , I’m going to be more carefull about who I choose. I ripped up and tossed the application , I’m glad now I read this before I mailed my paperwork and became another dis-satified customer. Thank You .

  12. Sooooooooooooooooooooooo glad I read your info this am.
    Got the $1.00 policy from Globe life and was about to pay my monthly premiumm on 800 number, but it stayed busy for so long, decided I did not want to have to go thru this when have questions. I hope I have better luck with agent. There’s nothing like personal agent!

  13. I want t thank all the considerate people on here who gave an honest and clear rating on this globe company. I almost fell for it; but being an insurance verification clerk in my employment I knew it was too good to be true. So I did some research. I will be speaking to an agent soon. Thank you all once agan!

  14. My mother had life insurance on my father through Globe Life. When he died they refused to pay. It was only $5000. Their excuse was that he was in bad health when she bought the insurance. She didn’t know that! She bought it on herself and him at the same time. My father wasn’t in great health- he had COPD but she had no idea he was going to die in a few years. He was working the day before he went into hospital and died a week later. To my amazement, she refused to cancel her Globe Life policy and is still paying it – 15 years later.

  15. I just got my policy for life and accident insurance from Globe. I understand I have 30 days to review . It came into my mine to search online reviews for Globe company and to my surprise, numbers of clients are unhappy and were not paid of their claims. I thought of investing life insurance for the security and protection of my family, but knowing of some feedbacks here, I have second thoughts of pursuing the policy

  16. I took out a policy on my son. He is 37 yrs old and single. I thought it would be best to take out a life ins. I sent in the first payment but then read reviews online. I called to cancel it. I was told that I could not cancel it since it was in his name. I TOOK THE POLICY OUT AND SENT THE PAYMENT IN. So I told her that. She kept saying “he” had to cancel it. I said “since I took it out and I am the one paying I just won’t pay it. ” (Glad I didn’t give bank information”! they are now calling every other day. This started in March. They still won’t stop. How do I get them to STOP!

  17. My mother passed in 2012 with a globe life insurance policy for $5k.
    When she applied she clearly stated on her application that she had “PRE-EXISTING” condition !!!

    They still left policy in effect and continued to take her monthly payment.

    UNTIL, she passed away, of course you know what happened I got left and still owe her very reasonable extremely reasonable funeral arrangement bill of $4800 or so dollars. Fortunately my step-father was former military and she was buried with him, the funeral parlor owner is still holding the bill (a christian woman whom I befriended and fully intend to correct ! I am an only child so I had no help SHAME ON GLOBE LIFE SHAME ON ALL OF THOSE WHO PROFIT FROM OTHER PEOPLES SORROW SHAME ….GOD IS WATCHING !!!

  18. I have been paying on life insurance for my grandchildren from when they were born. I just called them to find out about the 17 year olds policy. We were told that it would have a cash value. I have been paying on it for 17 years. They just told me it has no cash value until he is 26. I asked what it would be then and she said $10.00. Needless to say when the policies become due they will not be paid whatsoever on all 5 of the grandchildren. What a ripoff.

  19. Just off the phone with this company, Globe Life, because I applied for a policy. BIG MISTAKE!! I have all the calls that I made with them over the phone recorded, for my own personal use and so my daughter could hear how it all works. They are nothing but LIARS! I applied for $20,000 and received a policy for $5,000, with premiums that went up every few years! I specifically asked all the questions, would premiums stay the same, when would the policy go into affect, and never one time was an ‘under writer” mentioned to me. I have all of my questions and all of their answers recorded, so I have proof they just LIE to people. The woman I just spoke with admitted to me that the sales people do not have to tell you everything because they just do sales! So in other words, they lie to get a sale, this is pathetic!! This was on another website I went to, and YES it is on their website….. Deceptive wording alert: Globe Life states its term life insurance on its website has:
    “A rate schedule that is guaranteed to never increase. The premium schedule you establish today will not change for any reason.” It is a complete lie, don’t trust this company at all!

  20. Globe is denying my mother her full policy now,we’ve already had 2 cancell the service for my brother,and trying to raise money to burry him,I wouldn’t suggest any body use globe insurance,I intend on filing a law suit,smh.

  21. My dad passed away peacefully thinking he left a little money to cover his funeral costs. Little did he realize Globe Life would not honor their agreement. They are a heartless company. If they have a question about someone’s policy they should take care of that while the person is alive instead of providing false peace and comfort. Then having the bereaved family deal with the letdown.

  22. My uncle received a letter in the mail with a returned check. He reached his 81st birthday and no longer has insurance. It’s ashamed the way this rip off company has taken his money all these many year and God has allowed my uncle to live on this earth longer than their miniscule fine print and deny him his coverage. I hope no one buys insurance from this rip off company ever again. I would like to see if these share holders would deny their family members coverage after a certain age but it wouldn’t matter cause they have all our hard earned money and their rich. BE WARE DON’T EVER BUY INSURANCE FROM THIS COMPANY. RIP OFF

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