Most consumers cringe 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 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
- $1 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 companies like Banner Life Insurance or Snoopy at Met Life which guarantee rates for the entire level period are probably more affordable. As an example when pricing fifty thousand ($50,000) of twenty year level term @ Banner Life Insurance, (I am a preferred best risk) I qualify for rates under eleven dollars per month that will remain level for twenty years . Globe Life Insurance charges thirty-six dollars per month for their cheap term life insurance and no where on their website do I see that they disclose that the thirty-six dollars per month price is only good for five years, and then five years later when I turn forty-one the price increases to forty-five dollars per month and so on. ( I got this info by calling their toll free # and asking)
- 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 pigeon holed 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 (Monumental Life, Colonial Penn, Fidelity Life) assume the consumer to be below average in health and therefore over charge 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 insurance and shop. Find an independent life insurance broker who can provide multiple life insurance quotes.
- 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. 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.