What Is Globe Life Insurance? Everything That You Need To Know

Globe Life Insurance company has been providing insurance since 1951 and now has more than $82 billion worth of policies in force. But what is globe life insurance, and what does it offer? Read this article to know everything about Globe Life Insurance.

If you are currently in the market for life insurance, chances are you have encountered Globe Life Insurance. With a reputable standing and considerable track record of serving the American population, Globe Life Insurance Company has established itself as a prominent player.

However, determining whether Globe Life Insurance is optimal for your needs requires careful consideration.

This article aims to provide an unbiased evaluation by examining the range of products and services offered by Globe Life and comparing them to competitors in the field. Furthermore, we will explore the advantages and disadvantages of selecting Globe Life as your insurer, equipping you with the necessary insights to make an informed decision about your life insurance coverage.

What is Globe Life Insurance?

Globe life insurance company is one of the oldest companies in America. It offers a wide range of policy types you can choose from, with riders that allow you to customize those policies to your specific needs. The company is primarily known for writing robust policies for children.

Established in 1951, Globe Life is an insurance provider offering a comprehensive range of life insurance options, including term and permanent policies. The company emphasizes its affordability, starting with a minimal cost of $1 for the first month of coverage, but it’s important to note that the premium amount rises after that.

Image Source: Canva

Previously known as Torchmark, Globe Life distributes its policies through various subsidiaries such as American Income Life, Liberty National Life, United American, and Family Heritage Life. With its headquarters in McKinney, Texas, Globe Life operates with a network of life insurance agents across the nation.

If you are looking for final expense insurance with limited underwriting, perhaps because you have a health issue, Globe Life offers a variety of products suited to this particular need. However, suppose you are healthy or want a more considerable death benefit for income replacement once you pass. In that case, we recommend comparing quotes from other insurers, as you will get better prices and a more comprehensive set of options elsewhere.

Globe Life offers a wide array of services and claims to help you stay stress-free and enable you to focus on what matters most. Nevertheless, you must seek the necessary information and know everything before purchasing a policy.

Globe Life insurance policies

Globe Life offers a variety of life insurance policies online and through its exceptional network of agents. None of these policies require a medical exam. Let’s give you an overview of each product that Globe Life offers to its customers.

Term Life Insurance

Globe Life offers term life insurance coverage for one year to 30 years. Their policies come in various coverage amounts, including $5,000, $10,000, $20,000, $30,000, $50,000, $75,000, and $ $100,000. However, in certain states, individuals who are 60 years old or older may be restricted from purchasing coverage exceeding $50,000.

Image Source: PayBima
Image Source: PayBima

The first month of coverage costs only $1 for term life insurance from Globe Life. Subsequently, the premium rate is determined based on the individual’s age.

To illustrate, here are the monthly-term life rates for a 50-year-old male with Globe Life insurance, starting from the second month (as the first month is priced at $1).

Globe Life term life insurance rates for a 50-year-old male

Coverage Amount Initial Monthly Price (after the first month) [Rate increases begin after five years]
$5,000 $8.43
$10,000 $12.49
$20,000 $20.61
$30,000 $28.73
$50,000 $44.96
$100,000 $85.55
$75,000 $65.26

Unlike level-term life insurance, Globe Life’s term life insurance rates are determined based on the insured person’s age at the time of issuance. Additionally, premiums increase with each five-year renewal period.

The term life policies offered by Globe Life expire when the insured individual reaches the age of 90.

Life insurance for children

 Image Source: Canva
Image Source: Canva

Getting a children’s life insurance policy while your children are the youngest and healthiest they will ever be can save you and reserve your children’s money for the future. Globe Life allows you to purchase $5,000 to $30,000 in whole-life insurance for your child. Your premiums depend on age and health, so the younger and healthier your children are, the lower the premiums.

Globe’s children’s life insurance policy matures with the child’s age. With this policy, the cash value accrues that the child or policyholder can use later for important occasions in your child’s life, such as paying their college fee or buying a house.

Whole-Life Insurance

Unlike term life insurance, whole life insurance stays active as long as you pay the premiums and accumulate cash value. Therefore, you can purchase Globe Life’s whole life insurance for long-life coverage. Purchasing this insurance from Globe Life does not require any medical exam; however, you will answer a few questions about your health during the application process.

 Image Source: Canva
Image Source: Canva

Benefits of a whole life insurance

Whole life insurance is vital in safeguarding your family’s financial well-being and establishing a lasting legacy. By designating your benefit to a charitable cause, your children, or even your grandchildren, a whole life insurance policy ensures that your name and impact endure for years.

 Image Source: Canva
Image Source: Canva
  • Consistent Premiums for Life: With a whole-life policy, your premium rates remain unchanged throughout your lifetime, regardless of circumstances. The rate you initially pay upon policy issuance is locked in for life, providing stability and predictability.
  • Accumulation of Cash Value: This whole life insurance policy enables cash value growth over time. As you make premium payments, a portion is allocated toward building cash values, which can serve as a valuable asset for your future financial needs.
  • Permanent Coverage Assurance: One notable benefit is that your life insurance coverage can not be reduced. Regardless of any changes in your health or other factors, your whole life insurance coverage remains consistent and intact.
  • Preservation of Benefits: Once your whole life insurance policy is approved, its benefits can never be canceled or reduced as long as you diligently pay your premiums on time. This ensures that your loved ones will receive the intended financial support when the time comes.
  • Easy Application Process: Regardless of your life stage, whether starting a new family, being a veteran, a senior citizen, or an individual, our simple whole life insurance offers a convenient application process. You can apply via mail or work with an agent, ensuring a hassle-free experience.

It is essential to thoroughly review the terms and conditions of the whole life insurance policy and compare them with other providers to ensure that it aligns with your unique needs and long-term financial goals.

Final Expense Insurance

The final expense insurance is designed to pay for your funeral and other expenses. It also helps to pay the debt if you leave any behind. This insurance does not require you to clear a medical exam, and premiums are relatively low.

Accidental Death Insurance

Accidental injuries have emerged as the third leading cause of death in the United States. To ensure comprehensive protection, it is beneficial to consider adding an accidental death benefit to your existing life insurance policy. Including an additional “rider” in your policy can enhance coverage and address expenses related to a fatal accident. Both whole life and term life policies can accommodate an accidental death benefit rider, thereby augmenting your insurance coverage in the event of a covered accident.

Globe Life provides accidental death insurance options featuring an initial death benefit of up to $250,000. This benefit gradually increases by 5% each year during the first five years of the policy or until you reach the age of 70, depending on which milestone occurs first. The accidental death coverage offered by Global Life guarantees acceptance for individuals aged 18 to 69. This means the application process does not involve health-related inquiries or medical examinations.

Mortgage Insurance

Mortgage protection helps your beneficiaries pay off the mortgage on your home if you die. Globe’s policies include an inflation factor that increases your death benefit by 5% per year, educational benefits for your children, and a payout if you receive amputation due to an accident. In addition to being a guaranteed option, Globe Life’s mortgage protection insurance also comes with the following benefits at no extra cost:

 Image Source: Skyview Insurance Brokers Ltd
Image Source: Skyview Insurance Brokers Ltd
  • Inflation Protection: With mortgage protection insurance, the death benefit it provides experiences a yearly increase of 5% from its original amount for each year the policy remains active. This increment continues until the death benefit reaches 125% of the initial amount or until the policyholder reaches the age of 70, whichever comes first.
  • Education benefit: As part of the family plan, an additional advantage is available in the unfortunate event of a covered accident resulting in death. Globe Life offers an extra 10% on the death benefit of your mortgage protection insurance. This benefit assists explicitly in supporting your child’s educational expenses if they are between the ages of 15 and 22 at the time of the covered accident, helping them finance their schooling.
  • Seat Belt: If you accidentally die in a vehicle with your seatbelt on, we’ll pay an extra 10%.
  • Dismemberment: Globe life payout extra if your accident ends with amputation of a hand, foot or losing an eye (subject to a table of losses).
  • Commercially scheduled airline: Globe Life will match your original mortgage protection insurance’s death benefit if you purchased a commercial airline ticket and are fatally injured by a covered accident.

Other insurance products

Globe Life and its subsidiaries mainly focus on life insurance, although the company does offer supplemental health insurance and annuities, including the following:

  • Cancer insurance: Helps to pay for medical expenses, as well as the cost of transportation, lodging, childcare expenses, and income replacement during treatment.
  • ICU insurance: Covers part or all of any stays in the ICU that traditional insurance plans may not cover.
  • Critical illness insurance: Protects you from loss of income, special needs, or significant lifestyle changes resulting from a covered critical illness.
  • Hospital insurance: Helps cover deductibles, coinsurance, and copayments during a hospital stay.
  • Accident insurance: A lump sum payment available for a significant covered accident.
  • Worksite Insurance: Business owners can offer their employees insurance plans.

Until 2019, Globe did business as Torchmark Corporation, with Globe as one company subsidiary. Other subsidiaries include United American Insurance Company and Globe Life Family Heritage.

Why choose coverage with Globe Life?

Globe Life understands the importance of safeguarding working families from unforeseen circumstances, and as a life insurance company, it takes this responsibility seriously. The company offers life and supplemental health insurance products that feature straightforward Yes/No applications, ensuring simplicity and clarity for policyholders. Globe Life prioritizes providing policy benefits in everyday language that is easy to comprehend, guaranteeing that you and your family always receive top-notch service.

 Image Source: Canva
Image Source: Canva

Accessing Globe Life representatives is convenient, with 24/7 availability through phone, online platforms, and face-to-face interactions. The company’s products are designed and priced to accommodate various needs and budgets and can be easily purchased through multiple channels, including phone, online, in-person, or mail. Globe Life has a wealth of experience and is committed to treating customers, agents, employees, and communities fairly and honestly. It actively strives to make a positive impact in the areas where it operates, aiming to improve the quality of life for individuals and families.

For over a century, Globe Life has been dedicated to securing the financial futures of working families, empowering them to thrive and prosper.

Globe Life Insurance pros and cons

The pros and cons of Globe life insurance are for your better understanding.

 Image Source: Funeral Funds of America
Image Source: Funeral Funds of America


  • Globe Life Insurance is a large insurance company in the United States with two subsidiaries:
    • Liberty National Life Insurance
    • Family Heritage Life Insurance
  • They offer term, whole, and universal life insurance policies.
  • They do provide a no-medical exam policy.
  • Lower rates for the first month
  • You can buy the policy over the phone or online as well


  • It doesn’t have other forms of insurance like auto insurance etc. Globe Life only provides life insurance.
  • Options are minimal.
  • The cost is expensive compared to other life insurance companies’ rates.
  • You need to get a quote from a life insurance agent for permanent insurance.
  • Term insurance allows you to select either 10, 20, or 30 years.
  • The maximum coverage amount for term insurance is capped at $100,000. For any coverage exceeding this limit, you will be referred to AIG.
  • $5,000 is the minimum coverage amount.
  • Far more than the expected number of complaints about a company of its size.
  • The applicant needs to provide a written document stating that they are permanent residents of the United States. Otherwise, Globe Life doesn’t issue life insurance policies to foreign nationals.

Globe life insurance reviews

You must be wondering whether you should invest your money in Globe Life. Globe Life has several products to choose from, as discussed earlier. The company sells most of them directly to consumers via the Internet or direct mail. They sell three primary policies: term life for adults, whole life for adults, and whole life for children.

As far as Globe life insurance reviews are concerned, you may find mixed ideas and stances despite its high rating. Many of Globe Life’s customers said they had challenges contacting customer service or getting good help. On the other hand, the company’s sales team is incredibly persistent concerning calls and sending materials.

 Image Source: The New York Times
Image Source: The New York Times

The National Association of Insurance Commissioners (NAIC) keeps track of the number of customer complaints sent to state insurance departments. A score of 1 represents the baseline average, while a zero means there were no complaints to count. As of 2021, Globe Life has a score of 6.56, meaning they have received over six times more complaints than average.

Globe Life Insurance advertises cheap coverage and quick turnarounds. But extremely high monthly rates, low coverage amounts, poor customer ratings, and lacking customer service means you should only consider the adult term life package if you want to cover final expenses.

Nevertheless, the financial strength of any organization is vital, so we must mention that Globe Life has top-rated financial strength ratings. Policyholders and stakeholders can trust in their long-term financial security. Despite a few glitches, if we look at Globe life insurance’s online reviews, it is safe to say that you can purchase its policies. Moreover, looking at reviews on its websites, it seems like it is improving its customer service.

Third-party ratings

AM Best is the credit rating agency that issues Financial Strength Ratings (FSRs) in the insurance industry. These FSRs are opinions of insurers’ ability to meet their policy and contractual obligations. A strong FSR indicates that a company is financially sound and likely to pay out its claims. In 2020, AM Best downgraded Globe Life’s FSR from A+ (Superior) to A (Excellent), citing the company’s low level of risk-adjusted capitalization.

While an A rating is still quite good, any change to an FSR is significant in the insurance industry. AM Best recognized Globe Life’s life/health insurance subsidiaries for their strong financial stability and excellent operational performance.

Globe Life was not included in the J.D. Power 2019 U.S. Life insurance study, which ranked 24 companies based on their product offerings, pricing, communications, and customer interactions. However, it jumped into the 2020 study at No. 2 in overall customer satisfaction among life insurance providers. Globe Life was No. 6 in the 2021 J.D. Power study.

How do I cancel my globe life insurance policy?

Life insurance companies typically offer a 10-dayfree look period.” You have ten days to cancel your policy with a free look period and have your money ultimately refunded without penalty. At the same time, Globe Life offers a more generous 30-day money-back guarantee. If you are unhappy with your insurance plan, you can cancel your policy, and Globe Life will fully refund your money.

 Image Source: Much English
Image Source: Much English

After the introductory 30-day period, the cancellation policy may vary by your insurance plan. Considering the number of complaints customers have lodged about how Globe Life handled policies and accounts, read all policy documents carefully and understand all penalties and fees associated with your insurance plan before signing and agreeing to its terms.

Global life insurance phone number

Globe Life is always ready to answer customer questions about existing policies or provide more information to prospective customers regarding our supplemental insurance products for civil service employees. Call their toll-free customer service number at 800-831-1200, and a representative will assist you. You can visit their website to confirm the number as well.

How long does it take for Globe life insurance to pay?

The process for filing claims varies depending on the product and individual circumstances. Once all the necessary information for the claim is received and determined to be payable, most claims are typically paid within 10 to 15 business days. You can expect to receive your claim check within this timeframe following the processing date. If you have yet to receive your check within 30 days after the claim processing, it is advisable to contact Globe directly. The website provides contact details, including email address, phone number, and working hours.

If the policy has been active for more than two years, it is considered “Incontestable,” meaning that once all the required documents are received and reviewed, the claim will be paid promptly. However, if the policy has been in force for less than two years, it is categorized as “Contestable” and will undergo further scrutiny, resulting in a longer processing time.

Globe Life mobile app

For current Globe Life policyholders or those interested in exploring our insurance products, we offer a free mobile app called Globe Life Insurance. By downloading this app, you gain access to the following features:

 Image Source: Smartlook
Image Source: Smartlook
  • Conveniently pay your monthly premium bill
  • Accept additional coverage options if you qualify
  • Set up one-time payments
  • Update your personal information
  • Discover more about available coverage options
  • Connect with us through various social media platforms

Once you download the app, log in with the same User ID and Password on Globe Life’s service center website or register as a new user. This app is optimized for iPad and iPhone 4 onward.

Claims denial from Globe Life Insurance company

Because Globe Life Insurance company sells directly to consumers on the internet and stresses the economic value of life insurance, their review of applications when purchasing policy is not as complete as some other companies. But if your loved one passes away during the first two years of the policy, watch out. There will be a vigorous investigation.

Globe life insurance is owned by Torchmark, notorious for serious legal issues.

Torchmark subsidiaries Globe Life and accidental insurance came under fire for marketing individual health insurance policies. Some highlighted tactics included selling replacement policies that did not replace all of a person’s coverage. Company agents would convince policyholders that their coverage would be discontinued at age 65, even when it was guaranteed for life. They then would offer new policies that were not worth as much. Another tactic involved offering “low-cost” policies at rates that quickly shot up.

How does Globe Life compare to other life insurance companies?

Although a reputable life insurance company, Globe Life may not be the ideal choice for everyone’s insurance needs due to the personal nature of life insurance. If you are uncertain about Globe Life’s suitability, consider exploring these options.

 Image Source: Canva
Image Source: Canva

Globe Life vs. Guardian

For individuals seeking greater personalization options, Guardian is worth considering. This carrier provides a wide range of life insurance products and offers numerous riders to customize coverage. In addition, Guardian provides additional insurance products such as disability, dental, and vision insurance. They also offer investment options like annuities and individual retirement accounts (IRAs), which Globe Life does not provide.

Globe Life vs. MassMutual

MassMutual, recognized as the best whole life insurance company by Bankrate, may be particularly suitable for those requiring comprehensive coverage. In addition to life insurance and long-term care insurance, MassMutual offers various investment and retirement products, including 529 plans, IRAs, mutual funds, and various annuities. Although MassMutual ranked lower than Globe Life in the 2022 J.D. Power life insurance study, it holds the highest AM Best financial strength rating of A++ (Superior).

Globe Life vs. State Farm

State Farm is an extremely well-known company. With consistently high customer satisfaction scores, State Farm appeals to those seeking a seamless policy experience. They offer multiple channels of communication, including local agents, a 24/7 phone line, a mobile app, and an online customer portal. State Farm extends its services beyond life insurance and provides auto, business, and home insurance. They also offer banking services, home loans, and investment products.

How does Globe Life’s pricing compare to other life insurance providers?

Regarding pricing, Globe Life insurance falls slightly below the average for individuals in good or excellent health. However, their rates are approximately twice as high as those offered by other insurance companies with better ratings.

The pricing of a term-life policy varies depending on the state. For instance, if you are a healthy 35-year-old residing in Florida, Globe Life insurance offers an introductory rate of $1 for the first month.

Let’s compare policies to provide some perspective: A 35-year-old female seeking a 10-year term with a coverage amount of $100,000 would pay $7.31 per month with Transamerica, $9.42 per month for a 20-year term from North American Life Insurance Co., and $18.28 per month for a 40-year term life insurance policy from Banner Life.

Similarly, a 35-year-old male seeking a 10-year term with a coverage amount of $100,000 would pay $8.34 per month with Transamerica, $10.74 per month for a 20-year term from North America Life Insurance Co., and $21.03 per month for a 40-year term life insurance policy from Banner Life.


 Image Source: Shopify App Store
Image Source: Shopify App Store

Who is Globe Life best suited for?

Individuals who require a small amount of life insurance coverage for a short duration might find what they need with Globe Life. However, most can obtain coverage from other providers at significantly lower rates.

What sets Globe Life apart?

Globe Life distinguishes itself by not offering a level term convertible life insurance policy, which is the typical term life insurance option available from most companies and is also the most popular choice. Instead, Globe Life provides a five-year renewable term policy with rates that increase every five years.

Who should consider exploring alternative life insurance companies?

Most individuals searching for life insurance coverage will discover better options elsewhere, particularly with level-term policies that offer stable rates.

What are Globe Life Insurance rates?

Globe Life does not provide a $500,000, 20-year level term policy, the standard policy used for rate comparisons. Their term policy has a maximum coverage limit of $100,000 and operates on a five-year renewable term basis, with rates that increase every five years.

How long does it usually take for Globe Life to process a claim payout?

Globe Life typically processes life insurance claim payouts within 30 days of filing, assuming your claim is not contested.

Does Globe Life provide cash value?

Yes, Globe Life offers whole life insurance policies that accumulate cash value over time. The coverage amounts for their life insurance options include $5,000, $10,000, $20,000, $30,000, and $50,000. Parents or grandparents can also purchase whole life insurance policies for children or grandchildren, with coverage options ranging from $5,000 to $30,000.

What are the methods of purchasing Globe Life Insurance?

Globe Life insurance policies can be purchased through various channels, including online, over the phone, through an agent, or by mail.


Globe life insurance is a very well-known company with high brand awareness. This is due to the widespread marketing campaigns targeting several prospective clients interested in acquiring funeral life insurance to pay for burial costs. To pique interest, seniors are often flooded with direct mail promotions and emails boosting “$1 a month coverage” and other marketing campaigns. This could lead to wondering if Globe Life Insurance is a reputable company and if this offer is legitimate. However, there are few complaints about customer service; Globe Life provides a good experience and recommendations.

John Otero

John Otero

John Otero is an industry practitioner with more than 15 years of experience in the insurance industry. He has held various senior management roles both in the insurance companies and insurance brokers during this span of time. He began his insurance career in 2004 as an office assistant at an agency in her hometown of Duluth, MN. He got licensed as a producer while working at that agency and progressed to serve as an office manager. Working in the agency is how he fell in love with the industry. He saw firsthand the good that insurance consumers experienced by having the proper protection. John has diverse experience in corporate & consumer insurance services, across a range of vocations. His specialties include Major Corporate risk management and insurance programs, and Financial Lines He has been instrumental in making his firm as one of the leading organizations in the country in generating sustainable rapid growth of the company while maintaining service excellence to clients.

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