Globe Life Insurance Coverage
Globe Life Insurance Coverage
Globe Life insurance offers life insurance for both adults and children. Adult policies are available to individuals up to age 75 at the time of enrollment; Children’s policies are available for those under the age of 25, although age restrictions for comprehensive children’s insurance policies vary by state.
Your children’s life insurance can provide benefits of up to $30,000. There is no waiting period with Globe Life adult life insurance, and coverage amounts range from $5,000 to $50,000.
Healthy adults can pay as little as $3.49 per month for Globe Life insurance, though rates are likely to be higher depending on the amount of coverage you choose, as well as your age, income, location, and health history. Children’s life insurance can cost as little as $2.17 per month for a family, though you should expect to pay between $5 and $14 per month for this type of coverage.
Globe Life does not require medical exams, but when requesting them, clients must be honest about their medical history. Be sure to disclose any pre-existing medical conditions during the application process; otherwise, the company may refuse to pay the death benefit.
Globe Life Insurance Reviews: Pros and Cons of Globe Life Insurance
While Globe Life is a legitimate life insurance company with an A+ (Superior) rating from AM Best, it has received an unusually high number of consumer complaints. Its 2016 NAIC Complaint Index, which compares the number of complaints a business receives to its size, was 5.10.
The national median is 1.0, indicating that Globe Life receives far more complaints than you would expect from a company of its size. Despite representing only 0.29 percent of the individual life insurance market, it received 2.83 percent of all complaints.
Many Globe Life customers reported difficulty contacting customer service or receiving satisfactory assistance.
In contrast, the company’s sales team is extremely persistent in making calls and sending materials.
If you have a life insurance policy, make sure your beneficiary has all the information they need to file a claim, as well as details of your premium payments. Some Globe Life customers reported that their parents were unable to make payments due to illness or dementia and had difficulty reinstating coverage after the policy expired. You do not want to spend years paying benefits that your family will not receive after your death.
- Globe Life Insurance is a large insurance company in the United States with 2 subsidiaries:
- Liberty National Life Insurance
- Family Heritage Life Insurance
- They offer term, whole, and universal life insurance policies.
- They offer no medical exam policy.
- Globe Life Insurance only offers Globe Life products. Not variety.
- Options are minimal.
- The cost is expensive compared to other insurance companies.
- You need to get a quote from a life insurance agent for permanent insurance.
- You can only choose 10, 20, or 30 years for term insurance.
- Maximum coverage amounts are limited to $100,000. You are directed to AIG for any coverage above that.
- $5,000 is the minimum coverage amount.