Money Research Collective’s editorial team solely created this content. Opinions are their own, but compensation and in-depth research determine where and how companies may appear. Many featured companies advertise with us. How we make money.
Globe Life Insurance Review
By Jamela Adam MONEY RESEARCH COLLECTIVE
A medical exam is a common requirement for life insurance underwriting since it helps insurers get a clearer picture of your health and assess your risk of future illnesses. But not everyone sees these exams as routine and unremarkable. If you need life insurance but are anxious about having a medical exam, consider Globe Life.
Globe Life is a major life insurance provider that provides no-exam insurance policies ideal for those who don’t want to or don’t have the time to go through a medical evaluation. Let’s take a closer look at what this company has to offer, how much the policies cost, and how they stack up against their competitors.
Globe life insurance overview
Founded in 1951, Globe Life is one of the most well-established life insurance providers in the United States. It’s headquartered in Mckinney, Texas, and offers insurance products to customers across the country. Today, the company has over 16.8 million policies in force — nearly $220 billion in coverage.
Globe’s services
Globe Life offers a mix of permanent and term life insurance policies. The company stands out from competitors because none of its policies require a medical exam. Plus, your first month’s coverage only costs $1. But despite these benefits, Globe Life also has its limitations — such as low maximum coverage and few rider options.
What it offers
- Term life insurance: Term life insurance is a type of life insurance that includes a specific end date — typically between 10 and 30 years. At Globe Life, the coverage amount for term life insurance ranges from $5,000 to $100,000. However, in certain states, you might not be able to purchase more than $50,000 in coverage if you’re over 60 years old.
Keep in mind that Globe Life doesn’t offer level-term life insurance. In other words, your premiums will increase after every five-year renewal period.
- Life insurance for children: Globe Life’s whole life policy for children builds cash value over time and pays a death benefit to beneficiaries. The coverage choices are $5,000, $10,000, $15,000, $20,000, $25,000, and $30,000, and premiums start as low as $2.17 per month.
After the first month, rates are based on the child’s age and guaranteed to stay the same for the rest of their lives.
- Whole life insurance: Unlike term life insurance, there’s no end date for whole life insurance. This policy pays a death benefit to your beneficiaries upon your passing and accumulates cash value over time. You can choose between coverage amounts of $5,000, $10,000, $20,000, $30,000, and $50,000 at Globe Life.
Because whole life insurance covers your entire lifetime, it’s typically more expensive than term life insurance.
- Final expense insurance: Also known as burial insurance, final expense insurance covers end-of-life expenses such as burial costs. Coverage choices for this policy range from $5,000 to $100,000.
Besides the standard life insurance policies, Globe Life also offers mortgage protection insurance and an accidental death insurance rider. Here’s how they work.
- Mortgage protection insurance: If an accidental death or injury in your family prevents you from paying your mortgage, Globe Life’s mortgage protection insurance can come in handy.
This policy offers coverage amounts that range from $50,000 to $350,000, with rates starting as low as $5.50 per month. As long as you’re between 18 and 69 years old, acceptance is guaranteed. And as with Globe Life’s other insurance products, mortgage protection insurance doesn’t require a medical exam.
- Accidental death insurance rider: Globe Life’s accidental death insurance is a rider you can add to your term life or whole life insurance. This plan provides up to $250,000 in coverage and can help your loved ones with the financial burden of mortgage payments, medical bills, funeral costs, and unpaid debt.
Globe life insurance coverage
| Coverage amount | Rate after the first-month | Maximum term length | |
| Term life insurance | $5,000, $10,000, $20,000, $30,000, $50,000, $100,000 | Starting from $3.49/month | 30 years |
| Life insurance for children | $5,000, $10,000, $15,000, $20,000, $25,000, $30,000 | Starting from $2.17/month | None |
| Whole life insurance | $5,000, $10,000, $20,000, $30,000, $50,000 | Varies from person to person | None |
| Final expense insurance | $5,000, $10,000, $20,000, $30,000, $50,000, $100,000 | Varies from person to person | None |
What it doesn’t offer
Globe Life only offers one rider that you can add to your policies: an accidental death benefit.
Compared to other life insurance companies that often provide a variety of riders such as accelerated death benefit, return of premium, family income benefit, and long-term care, Globe Life’s lack of add-on options make their policies much less customizable.
Globe life insurance cost
Here’s what Globe Life’s term life insurance monthly premiums look like for a California resident who wants a $50,000 life insurance policy:.
| Age | Female | Male |
| 25 | $11.18 | $16.17 |
| 35 | $17.58 | $23.37 |
| 45 | $24.91 | $36.00 |
| 55 | $40.07 | $56.03 |
| 65 | $86.01 | $119.11 |
Globe life insurance cash value
If you purchase whole life insurance from Globe Life, you can build guaranteed cash value. This cash value works like a retirement savings account. When you make monthly premium payments, a portion of those payments funds the savings portion of your policy — which accumulates tax-deferred interest annually.
You can access the cash value of your whole life insurance plan by borrowing against it, withdrawing funds from it, using it to help pay for your premiums, or surrendering your policy to receive the accumulated funds.
Remember to take advantage of the cash value while alive since your beneficiaries can only receive death benefits upon your passing.
Globe’s credentials
Though Globe Life has been in business since the 1950s, we still researched the company’s credentials to ensure it’s a trustworthy provider. Here’s what we found.
Awards and certifications
Globe Life doesn’t boast any major industry awards or certifications. However, in 2022, the company was given an A (excellent) rating by A.M. Best — one of the largest credit rating agencies in the world.
Regulatory or legal actions
We couldn’t find any legal action against Globe Life, which suggests that the company has been compliant with relevant industry, state, and federal regulations.
Globe’s accessibility
Though Globe Life offers affordable no-medical exam policies, the company falls short in the accessibility department. However, if you don’t mind some inconvenience, Globe Life’s low premiums could still make them a choice worth considering.
Availability
Globe Life is available nationwide. However, certain life insurance products may not be sold in all states.
Contact information
If you have a question about your life insurance policy, you can call Globe Life customer service’s phone number, 1-877-577-3860 (Monday to Friday, from 7:30 am to 6:30 pm CST). You can also email them by filling out this contact form. If you want to send a physical letter to their customer service team, mail it to Globe Life, 3700 S Stonebridge Dr., Mckinney, TX 75070.
User experience
Globe Life’s website isn’t the most aesthetically pleasing. Still, their online quote tool is easy to access and provides a helpful service for those considering insurance policies. If you already have an account with them, you can use the eService Center, which allows you to conveniently manage your policy information and payments.
That being said, the website could provide more details about types of policies and payment methods than it currently does. The hidden and difficult-to-access navigation menu could also use some improvement.
Limitations
Globe Life might offer affordable life insurance premiums, but unfortunately, their customer service doesn’t quite measure up to that of other providers.
The company’s customer service team is only available Monday through Friday from 7:30 am to 6:30 pm CST, making it challenging for policyholders who work during those hours to get the help they need.
On top of that, Globe Life doesn’t have a 24/7 online chat feature like some of its competitors do.
Globe’s customer satisfaction
Though Globe Life boasts impressive ratings from various third-party agencies, discrepancies arise when we look at the company’s consumer complaints on Better Business Bureau and their high NAIC complaint index. Ultimately, it’s up to you to decide how much weight you want to give these evaluations when considering Globe Life.
Customer complaints
On Better Business Bureau, Globe Life has accumulated 180 complaints in the past three years. Many complaints were regarding the company’s complex claims process and cancellation policy.
It’s worth noting that Globe Life has resolved 100% of those complaints by apologizing to the customers and offering solutions. However, you still might want to read through some of the complaints before you decide to work with the company.
Besides considering the number of complaints on BBB, we also looked at Globe Life’s complaint index by the National Association of Insurance Commissioners (NAIC). An index of over 1 means that a company has more complaints than expected for companies its size, whereas under 1 means the opposite. In 2019, 2020, and 2021, Globe Life’s complaint index was 2.52, 3.42, and 2.59, respectively. In other words, Globe Life has received two to three times more complaints than companies its size — which may signal poor customer service.
As you consider consumer complaints, remember that they are not the result of a well-designed customer satisfaction survey of randomly-chosen customers. Few people write to the BBB or other agencies to report that they were satisfied with the service they received from an insurance company. You should also remember that larger companies usually receive more complaints than smaller ones.
Third-party ratings
The major credit rating agency, A.M. Best, assigned Globe Life an A (excellent) financial strength rating, which means the company is unlikely to default on its obligations and can pay out claims on time.
J.D. Power, a leading consumer research firm, also gave Globe Life an above-average customer satisfaction rating in its 2021 U.S. Individual Life Insurance Study. This study measured each company’s customer satisfaction based on five factors: communication, interaction, price, product offerings, and statements. Out of 21 companies, Globe Life placed number six and earned a score of 788 on a 1,000-point scale.
Globe vs. the competition
We compared Globe Life’s term life policy to similar companies in the life insurance space to see how it stacks up.
| Globe | AARP | Gerber | |
| Coverage | $5,000 to $100,000 | $10,000 to $150,000 | $100,000 to $300,000 |
| Rates | Starting at $3.49/month | Starting at $11/month | Starting at $15.42/month |
| Waiting period | None | None | None |
Though Globe Life’s rates are affordable, their coverage for term life policies are capped at a lower amount than some of their competitors.
If you aren’t sure that Globe Life’s low coverage amounts would work for you, check out our reviews of AARP life insurance and Gerber life insurance to see whether they might be a better fit.
Globe life insurance FAQs
How we evaluated Globe life insurance
We evaluated Globe Life based on six factors: price, accessibility, customer satisfaction, credentials, coverage options, and range of products. By breaking down each component and seeing how it stacks up against the competition, we were able to provide a more in-depth and unbiased review of Globe Life.
Summary of Miami Herald’s Globe life insurance review
Despite their low coverage amounts and limited rider options, Globe Life is still worth considering if you’re looking for low-hassle no exam life insurance with manageable premiums.
However, before taking the plunge and signing up for a policy at Globe Life, check out some of the other best life insurance companies on the market. Take the time to research each insurer by comparing features and reading customer reviews. Remember, doing some comparison shopping upfront can save you big bucks in the long run, so don’t neglect your due diligence!
