Globe Life Insurance Review 2022

Globe Life sells term life, whole life, children’s life insurance and accidental death insurance. In addition, it offers final expense insurance (also called burial insurance) and mortgage protection insurance.

Globe Life does not require medical exams for its life insurance policies.

Globe Life’s term life insurance

At Globe Life, term life insurance periods typically range from one year to 30 years. The company’s term life insurance policies are available in coverage amounts of $5,000, $10,000, $20,000, $30,000, $50,000, $75,000 and $100,000. In some states, you may not be able to buy more than $50,000 in coverage if you are 60 or older.

The first month of Globe Life coverage costs $1 for term life, and after that your rate is based on your age.

For example, here are monthly Globe Life term life rates for a 50-year-old male, after the first month for $1.

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

Unlike level-term life insurance, Globe Life’s term life insurance rates are based on your age at issue, and then premiums increase as you enter each new five-year renewal period.

The company’s term life policies expire when the insured person reaches age 90.

Globe Life’s whole life insurance

Whole life insurance, also known as permanent life insurance, covers you for your entire life. It pays a death benefit to your beneficiaries after you die, and it builds cash value. Whole life insurance typically costs more than term life insurance.

Coverage amount choices for Globe’s whole life insurance are $5,000, $10,000, $20,000, $30,000 and $50,000.

Globe’s children’s life insurance

A parent or grandparent can buy a Globe whole life insurance policy to cover a child or grandchild. The policy pays a death benefit and builds cash value over time.

Coverage choices are $5,000, $10,000, $15,000, $20,000, $25,000 and $30,000.

After the first month of coverage, the rates are based on the child’s current age and will stay the same throughout the child’s life.

Globe Life’s final expense insurance

Final expense insurance, also called burial insurance, is designed to mainly cover funeral costs, small unpaid debts or even lost income if you die. Globe does not require a medical exam for its final expense insurance.

Coverage choices are $5,000, $10,000, $20,000, $30,000, $50,000 and $100,000.

Globe Life’s mortgage protection insurance

Globe Life’s mortgage protection insurance covers mortgage payments if the insured person dies or suffers dismemberment (such as a hand, foot or eye) in an accident. No medical exam is required.

For every year your mortgage protection insurance remains in force, the death benefit rises by 5% from the original death benefit until it reaches 125% or when you reach age 70, whichever comes first.

If you buy the family plan, Globe Life pays an extra 10% on your mortgage insurance death benefit if your child is between the ages of 15 and 22 on the date of your covered accident.

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