What is Special About Globe Life Insurance

by Mouli Chakraborty
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In this uncertain time, you should realize how precious the value of your life is to your close ones and yourself. Provided the fact, you should apply for life insurance from a trusted insurance agency. For American clients, one of the trusted life insurance solution providers is Globe life insurance which aims to alleviate financial stress in each household. 

Both life and supplemental health insurance plans are covered in their policies. Know details about the types of insurance covered by Globe insurance companies and other related information with an honest review from us. 

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Types of Insurance Covered by Globe Life Insurance company

Globe Life Insurance Company
Globe Life Insurance Company

Whole Life Insurance 

As a responsible family man/ woman, if you are worried about your family’s financial future, then you can look for their whole life insurance policy. Once your life ends, your legacy will continue, and the benefits will be retrieved by your near and dear ones.

The agents will ask you with whom you want to share benefits. So, you can share them with your children or grandchildren, or you can also contribute to a charity organization. 

Features of whole life insurance policy- 

  • You can maintain the same issued rates for a lifetime without any expected increase with time. 
  • The coverage stays the same for a lifetime. 
  • The insurance policy would convert to cash value in the future. 
  • Proceed to pay the same premium, and your conditioned benefits won’t get reduced or cancelled. 

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Term Life insurance

When the insured party can’t afford whole life insurance mortgages, they opt for the budget-friendly term life insurance plan.

For this category, you will get multiple terms and coverage amount options. If the policy’s tenure ends, you can renew the policy contract when you think of continuing the coverage. 

Features

  • Maximum coverage for $100,000 life insurance. 
  • You can apply simply without any medical examination. 
  • Full coverage within the initial days itself without any waiting period. 
  • Risk-free Money back guarantee. 
  • The application gets approved speedily. 

For term insurance, Globe life insurance company coverage amounts include a minimum of $5,000 to as high as $75,000. The coverage term period is from one year to thirty years. 

Final Expense Insurance

In case of your unexpected death, the Final expense insurance would relieve your family’s financial burden. The policy would aid your last rites and cover the burial or funeral expenses. The insurance also tries to restore your lost income and protects your family from debt. 

Features

  • You can directly buy the insurance policy without a visit from the agents. 
  • No medical examination is required.
  • Risk-free money back guarantee. Other features stay the same as other categories of insurance policies. 

Children’s Life Insurance

Buying a children’s life insurance plan is, in a way securing the child’s future while they are growing. What’s unique about children’s life insurance is that the premium you pay in months or annually depends on your child’s age and health condition.

So, younger kids with good health won’t require higher premium rates. Gradually the Globe life insurance policy matures with the passing years. Features like a risk-free money-back guarantee and full coverage policy on the first day stay the same. 

Added feature

  • For child insurance, the coverage amount is up to $30,000. 

Accidental Death Insurance

It’s better to prevent than cure, and it’s better to safeguard your family’s financial interests before any mishaps.

Given the situation that in the US, accidental injury is one of the primary causes of death, the benefits of this insurance category would include all kinds of costs linked with fatal accidents. 

Extra feature 

  • Expand your whole or term insurance policy by adding some extra benefits, also known as riders. So, add an accidental death benefit rider to such existing policies. 
  • More coverage in case of death due to accidents. 

Mortgage Protection Insurance

In the case of the insured holder’s sudden passage, the mortgage protection insurance works like a dismemberment insurance plan which pays the mortgage on behalf of the holder’s family.

As long as the Mortgage Protection Insurance is enforceable, the death benefit rate will increase up to 5% annually from the original death benefit. The benefit will increase by 125% or until the insured person becomes 70 years of age. 

Features

  • The dismemberment payout is extra in accidental cases like certain losses like eye vision or foot loss. 
  • Extra 10% payout if you meet an accident while in a car with seat belts on. 
  • If the agent passes from a covered accident, then the Globe life insurance payments policy would offer an added 10% benefit for your child between the age group of 15 to 22 years.
  • Such mortgage protection and death insurance benefit supports educational purposes. 

Read more: Why Seniors Life Insurance Is So Important

Pros and Cons of Globe Life Insurance

Benefits of Globe Life Insurance

  • Applying for Globe insurance policies won’t require any medical examination. 
  • The applicant has to pay lower rates during starting months.
  • Without a visit from any agent, buy a policy anytime by mail or phone. 

Drawbacks of Globe life and Supplementary Insurance

  • As compared to other life insurance companies in America, the coverage amount for a policy is comparatively lower. 
  • Restricted options for life insurance. 
  • The premium rates are costly relative to other insurance rates of different firms. 
  • They only give an option to choose from ten, twenty, or thirty years of insurance terms. 
  • Globe insurance is not applicable for foreigners or NRIs. 
  • Your claim can’t be filed online. 

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How to apply for Globe Life Insurance? 

To apply to any of the Globe life insurance policies, you have to visit their site and fill in your details so that they can contact you over mail, or an agent can connect with you for further processes. You can also place your call on the Globe life insurance phone number – 800-831-1200.

How is Globe Life Insurance Customer Service? 

Globe Life Insurance Customer Service

While we go by the company’s customer service page, there are multiple means by which you can contact the life insurance company’s customer service.

While accessing further confidential information from the site, you have to have the customer log in after filling in the necessary details. These are the following means to experience Globe life insurance customer service- 

  • Either communicate with the customer service management via email. 
  • For specific queries from the enlisted issues of any insurance policy, you can manage it online through the service centre. 
  • To satisfy your query other than the enlisted issues, get a call in the Globe life insurance phone number: (800) 433-3405 from 8 AM to 5 PM from Mon-Fri. 
  • Other than the above means, write a letter to the Globe Life Insurance address- American Income Life, 1200Wooded Acres Dr Waco, TX76710. 

However, regarding the performance of Globe insurance, the National Association of Insurance Commissioners (NAIC) has considered its site as misleading.

And overall, many customers have rated below 6.5 customer service due to the rude and unsupportive attitude of the representatives. 

There are long waiting times due to a lack of proper customer care services. Representatives are often not well informed, and there are many department referrals. 

Is Globe Life Insurance Legit?

Is Globe Life Insurance Legit

Many third-party insurance reviewers like A.M. Best have considered Globe an authentic life insurance company and gave it an A+ rating. There are other sources like NAIC 2016, which have revealed some unfortunate data about Globe insurance companies.

For every company, if the average national median of receiving complaints stands between 1.0 or at max 2.0, then it’s working fine. However, Globe life insurance company has performed pretty poorly.

Based on its size, it has scored above 5.0 disclosing the unsatisfactory side of the customers. 

Is Globe Life Insurance Good?

Though they claim a high customer satisfaction rating, ranking 6 out of 21 among insurance companies (coordinated by JD Power’s ranking of individual life insurers ).

However, limited features like lower coverage amount and few policies info on the website have disappointed customers. Finance and investment platforms like Forbes and NerdWallet have tried to rate the insurance company out of 5 based on customer experience, and none can award more than 3 out of 5.

So, most of the insured holder’s Globe life insurance reviews are about appreciating their whole and term-based insurance policies. But at the same time, rejecting them because of their capped coverage at lower amounts. 

Globe Life Insurance Payments

The Globe Life Insurance login bill pay procedure is convenient, and the payment is made online. 

  • The customer for purchasing a life insurance policy and paying premiums periodically has to log in to their service centre. Once logged in, the clients can register their policy for further payments. 
  • There’s another way by paying through phone calls. Give the life insurance firm a call at 1-877-577-3860.

The End: Should you choose Globe Life Insurance? 

The American Globe life insurance company offers various life insurance policies like whole, term, and children insurance plans. And third-party analysis like AM Best has even confirmed the insurance firm’s financial stability, so they can undoubtedly pay the claims.

However, factors like limited riders and low upper limit of the coverage amount should not be sidelined at the same time. So, it’s better for us to go with other dedicated and trustworthy life insurance companies than to register for Globe insurance. 

Frequently Asked Questions (FAQs)

Q.1. Is Globe Life Insurance a legitimate company? 

Answer: Recently, the company has received too many complaints about its unprofessional customer representative services. The National Association of Insurance Commissioners (NAIC) has even scored them 3 surpassing the national average of 1.0 for receiving customer complaints. However, other analysts like AM Best have awarded them excellency for their legit services. 

Q.2. Does Globe Life Insurance have cash value? 

Answer- The whole term Globe life insurance policies entertain the cash value component. Other than that, policies like children, accidental death, and term insurance do not offer any cash value. 

Q.3. How long does Globe Life take to pay a claim? 

Answer- Every personal insurance case varies and so do the claims. As soon as the insured holder begins processing the claims, the team would professionally take control of the policyholder’s interests. 

Q.4. What kind of insurance is Globe life? 

Answer – Globe life are health and life insurance providers that try to relieve your family from financial burden in case of any mishaps or natural death. They offer whole life, term life, children, final term, and accidental death insurance. For purchasing their policies, the customer won’t require to undergo any medical examination. 

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