1. Home
  2. Life Insurance
  3. Globe Life Review

Globe Life Insurance Review

Rating: 8.3 / 10 (Excellent)
10 Customer Reviews - see all comments
Disclosure: We receive advertising revenue from some partners. Learn more.
Globe Life and Accident Insurance Company is a Texas-based insurance company founded in 1951. </br> </br> Globe Life provides term, whole, and children’s life insurance policies, as well as a variety of related products with <a href="/life-insurance/saved/life-insurance-no-medical-exam">no medical exam requirements or waiting periods</a>. </br> </br> The company holds an A.M. Best financial rating of A+ and an S&P rating of AA-.
 
View Top 10 List

How is Globe Life rated?

Breakdown

4.3/5
Company Stability
3.5/5
Reputation
4.5/5
Policies & Coverage

Overall Rating: 4.1 / 5 (Excellent)

Globe Life Insurance Company, a subsidiary of the Torchmark Corporation, has been offering life insurance products since its inception in 1951. Over the years, the company's financial reputation has strengthened considerably, now holding an A.M. Best rating of A+ (Superior). Globe Life has made it to our list of 10 Best Life Insurance Companies for their simple and accessible policies, which require no medical examination or waiting periods. Additionally, Globe Life offers a simple application process and their trademark "$1 Buys $100,000" life insurance coverage. (Customers pay $1 for the first month of coverage.)

Financial Strength

Key Details

Underwriter
Globe Life And Accident Insurance Company
Standard & Poor's Financial Rating
AA-
AM Best Financial Rating
A+

Company Stability - 4.3 / 5

Globe Life Insurance Company enjoys a strong financial reputation and issuer credit rating when compared with life insurance carriers as a whole. the company to date has over 4 million policyholders across the nation. The company has an A.M. Best rating of A+ (Superior) and a long-term issuer credit rating of aa- (stable). They have also received an S&P rating of AA-.
*The above information reflects the market share, premiums, and financial strength of the issuer of the Globe Life life insurance policies: Globe Life And Accident Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.13
NAIC Total Complaints 2017
76
*The NAIC complaint ratio (in this case 0.13) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Number of BBB Neutral Reviews
1
Number of BBB Negative Reviews
6
Date Collected
2021-02-02

Reputation - 3.5 / 5

According to the National Association of Insurance Commissioners, the complaint ratio against Globe Life Insurance Company is above the median score for individual life insurance for 2017. Nevertheless, the company still services over 4.2 million policyholders across the nation, remaining among the most popular life insurers in the United States. Globe Life Insurance Company is a BBB accredited business with an A+ rating.

Globe Life Policies

Globe Life offers customers the following life insurance policies: Term, Whole Life.

Term Life Insurance

Maximum Age
90
Minimum Death Benefit
$5,000
Maximum Death Benefit
$100,000
Available Terms
5 year

Policies & Coverage - 4.5 / 5

Globe Life offers term and whole life insurance products, as well as children's life, accidental benefits, mortgage protection, and medicare supplement insurance. Term policies rates can be as low as $3.49 per month. Globe Life term periods come in increments of 5 years. So every time you renew your term the premium will likely increase. Their term life product can be purchased directly from the company, and requires no medical exam, only a simple application. There is also no waiting period. Whole life policies also require no medical exam, and come with a simple application and no waiting period. They also differ in that they come with locked rates, benefits, and coverage. Premiums for these policies are generally more expensive than term. Whole benefits come in amounts of $5,000, $10,000, $20,000, $30,000, and $50,000. Globe Life plans come with a no-risk money back guarantee and, once approved, benefits cannot be canceled or reduced for the life of the policy. Globe Life also offers a promotional price of $1 for the first month of coverage for most of their plans, which increases on every new term as per contract agreement.

Flexibility and Available Riders

Available Term Life Riders

  • Child Protection Rider
  • Accidental Death Benefit Rider

Flexibility & Available Riders - 0 / 5

In terms of flexibility, Globe Life offers four additional insurance products in addition to term and whole coverage. With children's life insurance customers can receive whole life policies from $5,000 to $25,000 with no medical exam and a simple application. Accidental death and other loses coverage can go up to $250,000. Mortgage protection insurance is a life insurance policy that pays off your mortgage should you or your partner die during the mortgage. For this product Globe Life offers up to $350,000 in protection. Finally Globe offers Medicare supplement plans that can be purchased through the mail and have automatic claims filing.

Additional Company Information

Homepage URL
http://www.globelifeinsurance.com/
Company Phone
(800) 654-5433
Headquarters Address
3700 S Stonebridge Dr, McKinney, TX, 75070
Year Founded
1951
Top Rated
Our Partner
VIEW RATES

  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
READ FULL REVIEW >

Latest Globe Life Reviews

bridgettkeller4

2/12/2020
Since 1993 I have a term life policy, which was cancelled today for non payment of loan interest, but Globe Life never changed my address after numerous requests. So, at 85 yrs old with a loan balance of 5200.00 against a 15,000.00 policy I was told unless I pay the entire loan in full they will cancel my policy. I will not be buried next to my husband, and they have taken my money for years - more than 15,000.00 for sure. I asked, no begged, to let me continue to pay the interest payments 2-3 times a year as I have been doing, but Teresa in service dept would not even tell me how much interest is due. This is their fault and I will tell everyone I know what a terrible company Globe Life... Read More

J
John m

11/22/2019
I SENT A DEATH CERTIFICATE FOR MY WIFE IN JUNE, A CHANCE OF BENEFICIARY FOR HER MOTHER'S POLICY my wife passed away she was beneficiary for her mother it was changed to me her husband ,,now her mother passed away and globe life says my wife is ,still beneficiary ,,WHAT GIVES,,,THE PERSON ON THE PHONE SAYS JUST FILL OUT A PAPER TELLING THE SITUATION,,WHAT A FARCE MY RATING IS,,,0,SOME ONE NEEDS TO KNOW WHAT FORMS TO FILL OUT,,TO CLEAR THIS UP.

jernigde

11/15/2019
Father in Law who was the policy holder died, so now we are attempting to reestablish all of our children's (4 of them) life insurance policies. Nov 7th I send the death certificate and required paperwork via email to globe life insurance per their instructions, I CC'd myself on the same documentation. Today is Nov 15, I call to verify the info has been received,and spend >10 min on hold and I get a snarky CS rep who essentially tells me nothing was received and obviously I screwed this up. I ask her to verify the email address, she confirms the address I sent the info to. She then backtracks her original statement and reports nothing can be done until the requisite 10 business days have... Read More

D
Duane H

8/28/2019
My father died of an accident in 3/2019. It was stated on his Death Certificate and Medical Examiner Report as a accidental death. He paid his policy on time every month. We sent Claimant forms, Death Certificate and Medical Examiner Report all items sent Certified Mail. The rep are trained to inform you they are missing documents so you will have to continue to submit the same documents over and over. I am getting nowhere so i am forced to get legal representation. Please stay tune. Hopefully I will have a pathway for all deserving beneficiaries to get their inheritance.

S
sandra c

8/22/2019
I have been with Globe for several years and finally they priced me out of the ball park. Premium jumped nearly $15.00/mo. I decided to drop the coverage realizing that nothing would be coming back to me. I called the day after the newest premium and been deducted and said I assumed it would be returned to me. Spoke to two individuals in CS who said it would. Didn't have it two weeks later so called again. Told it takes up to one month to receive. Waited for that time to pass, called again and was told they never return premiums and I must be mistaken about what I "think" I heard. They also said they simply extended my coverage for another month with the funds. I didn't want that and... Read More

Robert S

7/20/2019
My mother has had life insurance on 4 people for 60 years. 40 years on a grand daughter also.Two more policy’s on great grandchildren for 15 years. Three accident policy’s also. My father passed away four months ago and they have been ridiculous with her ever since.She has sent them two death certificates,now has too fill out six pages for a claimant form! District manager told her it’s usually five to seven days to be processed.It’s been four months and they are still giving her the run around.She is almost 88 years old and has paid this for Years! Then the first claim she attempts to collect for 2000.00,they put her thru hell.Still waiting on forms to complete to collect! This is beyond... Read More

C
C W

5/6/2019
Globe Life may give great customer service when writing a policy but you should think twice before committing to a policy with this company. Their customer service for a claim has been nothing short of horrendous. After almost three months after filing a claim we still have not received payment on a policy that was in effect for 20 years. Not once has this company called us with any updates, and so far the check has been mailed multiple (4) times to addresses that don't exist and sent by two day FedEx twice to the correct address but oddly no tracking number could be provided. It's rather strange how the premium notices were always mailed to the correct address but not the death benefit.... Read More

rjp 3

3/25/2019
Refuses to answer calls & questions. Fraudulent charges against my bank account without my knowledge or permission. Refuses to rectify the situation. Crooks. Absolute liars and thieves...

F
FAITH R

6/21/2018
Company will not pay out for a cancelled policy. Started my claim in January, it's June 2018 and have had not had the $ due me. Phone calls to Customer Service results in nothing but lies. After reading many negative review, claims such as mine, I wish I had some way to sue them. I normally do not complain. but you better think twice before writing a policy with Globe. A person can always be friendly, which they are, and payment can be made with no issues, but watch out when you make a claim, the tables turn. DOWN WITH GLOBE LIFE.

Marina Z

6/5/2018
Ive been a valid globe life customer since 1990... My premium has always been the same since a few months ago it has increased tremendously...I believe that my life insurance policy with you should never ever increase...Can you explain why it went up?....Thank you...Always a 5 star...Now it's a 1

Related to Life Insurance

Top Articles
Suggested Comparisons