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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.
$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.
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?
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.
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.
It’s important to 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.
You should always shop around for affordable rates.
If the same consumer calls an independent life insurance broker like me, the consumer will get rates from all the life insurance companies which allows them to:
When shopping for life insurance, it’s best to compare multiple companies such as Primerica Life Insurance Company, New York Life and AARP. Globe Life Insurance Company is one of many that uses 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’re purchasing insurance for you or your parents.
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.
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.
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 Insurance company also has plans for kids.
The Young American Plan
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.
As with Globe Life’s other life insurance plans, the Young American Plan also comes with a 30-day money-back guarantee.
“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
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.
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!