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Globe Life Insurance Review for 2023

Globe Life Insurance Review

Reviewed By: Rob Pinner

Rob Pinner Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

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Anyone who watches television has probably seen commercials put out there by life insurance companies, especially those companies that sell directly to the consumer.

Certainly, TV advertising is a great method for getting consumers to think about life insurance and we applaud companies that are willing to pay big bucks to get the conversation started. However, buying life insurance directly from a company without advice from an experienced and reputable agent could be a mistake.

One of the companies that spend a lot of money on TV and direct mail advertising is Globe Life Insurance Company so it’s important that consumers read our Globe Life Insurance Review to get the information they need to make an informed decision.

NOTE: We are not Globe Life Insurance. If you need to contact them, you can call the company at 877-577-3860 during normal business hours, or contact them through their website at

Globe Life and Accident Insurance Company
3700 S. Stonebridge Dr.
McKinney, TX 75070

Globe Life Insurance Company of New York
301 Plainfield Rd, Suite 150
Syracuse, NY 13212

About Globe Life Insurance Company

Globe Life was founded in 1951 and currently makes McKinney, TX its home state for operations.

The company’s founders originally began operating in rural Oklahoma communities with a mission to offer life insurance protection to consumers in underserved markets. As the company grew and became profitable, Globe expanded its footprint across the U.S. and now serves over 4 million policyholders and has over $82 billion of insurance in force. 

As the company grew using television and direct mail as its marketing force and selling direct to the public along with the help of independent agents, Globe Life has become one of the major players in the life insurance industry today.


Globe Life and Accident Insurance Company Financial Stability

Simply stated, a life insurance policy is a promise to pay a selected death benefit in return for a premium from the policyholder. With life insurance, however, that promise must remain in force for decades.

It’s reasonable for every consumer who is considering purchasing life insurance from Globe Life should spend a little time to make certain the company demonstrates the ability to keep its promise today, tomorrow, and 50 years from now.

We believe that Globe Life is financially stable because they have received an A+ (Superior) rating from A.M. Best and an AA- rating from Standard & Poor’s. Both companies have rated also stated that Globe’s long-term issuer credit rating is “stable”. The other sources we checked also indicate that financially speaking, Globe Life Insurance reviews demonstrate the company is financially stable.

To demonstrate the Globe Life’s financial transparency, consumers may review the company’s annual reports online from as far back as 1998.

Globe Life’s Insurance Products

Globe is one of a small group of companies that have decided to focus on a market niche that will typically need a small selection of insurance products. Typically, the insurance companies that operate this way get very good at what they do because of their ability to focus on a small selection of products.

Here’s what Globe Life offers:

Insurance ProductTargeted Consumers
Term Life InsuranceTerm Life Insurance for Adults
Whole Life InsuranceWhole Life Insurance for Adults and Children
Accidental Benefits InsuranceAccidental death and dismemberment for adults and families
Medicare Supplement InsuranceMedigap coverage for Seniors eligible for Medicare
Mortgage Protection InsuranceTerm Life Insurance to pay off a Home Mortgage

Globe Term Insurance

Globe Life offers an unusual term policy when you compare it to the rest of the companies out there. While other companies offer policy terms of 10, 15, 20, 25, and 30-years, Globe Term Insurance is a five-year term but guaranteed to renew up to age 90. At age 90, the policy stops and no replacement coverage from Globe is available.

When most companies offer a term conversion option so policyholders can convert their term policy to a permanent policy, Globe term insurance does not have that option. Most consumers who are attracted to this policy will purchase it because of the $1 premium for the first month but after 30 days, the regular premium applies and will go up every 5 years as you age into a new term.

Here are the Globe Term Insurance highlights:

Eligible age for Applicants18 - 79
Available Face Amounts$5,000 - $100,000 (maximum face amounts vary by age)
Maximum Coverage Age90 - the policy will cancel when the policyholder turns 90
Level PremiumsNo. Premiums will increase every 5 years
Medical Exam Required?No medical exam is required
Health questions on Application?Yes. Your acceptance will depend on how questions are answered
Guaranteed IssueNo
RidersThere are no riders available with Globe's term insurance

Globe Life Term Insurance Rates

We found it somewhat difficult getting the Globe Life Insurance rates on the company’s website. They did provide a quote for a $50,000 policy for $28.15 per month (the first month is $1) but you have to agree to receive Globe Life Insurance rates by mail (up to 2 weeks) if you want rates for more coverage. Also, the rates are for the first 5 year period only and would go up from there.

When we compared the $50,000 with other companies in the marketplace, we found the following companies with rates under $10 for a 10-year term life insurance policy. These Globe Insurance rates are for a 30-year-old male non-smoker in very good health:

As you can see from the comparison listed above, buying term life insurance from Globe Life may be quick and easy but it is certainly not a bargain. And remember, no riders or conversion option is available with Globe Life Term Life Insurance. Other agents offering Globe Life Insurance reviews felt pretty much the same way as we do when considering if Globe insurance products are much of a bargain in the long run.

Globe Whole Life Insurance

Globe offers whole life insurance for adults and children. Most adults that purchase Globe whole life insurance are typically seniors who are looking for Final Expense and Burial Insurance. The Globe whole life insurance policies are cash-value policies but there is no mention of optional riders on the website. The first month’s premium is also $1 like their term insurance product.

Although we attempted to get Globe Life Insurance rates for whole life insurance on their website, we found the only way to get this information was to call them or wait for a quote in the mail (not email). We assume that the Globe Life burial Insurance and funeral insurance is similarly priced like Colonial Penn and other companies that sell directly to consumers.

Unlike other insurance companies that sell direct to the consumer, we found no mention of a waiting period on the Globe Life burial insurance product which is unusual. Typically this indicates that applicants can be denied coverage because of health issues Globe Life Insurance is unwilling to accept.

Globe Life’s Whole Life Insurance for children is very similar to other companies like Gerber, Colonial Penn, and Mutual of Omaha but once again, the consumer must call the company for quotes or wait for the quotes to come in the mail.


Globe Life Conclusion

Moreover, I am probably like most people who shop for products and services online. If I can’t get an estimate or a quote in advance, I will simply look elsewhere for what I’m shopping for. Consumers in the 21st Century  expect to be able to shop for life insurance online, and like me, they will simply go elsewhere.

You can use the quoter on this page to see what rates you qualify for.

Frequently Asked Questions If I have COPD will I be able to afford life insurance?

Does Globe Life offer Indexed Universal Life insurance?

No. The Globe Life product selection is limited to term insurance, whole life, AD&D, and Medicare Supplements.

Are Globe Life’s rates cheaper than other companies?

Unfortunately, no. Globe Life’s rates are at the higher end of the spectrum when compared with other term insurance products from national well-known insurance companies.

Should I buy insurance for my young children?

Regretfully, sometimes children will die and the last thing you need to stress about while you are in mourning is the cost of a funeral and burial insurance. Also, when you buy whole life insurance on a child, you are helping them secure their financial future and their ability to qualify for more insurance later in life.

Does Globe Life require a medical exam?

No. Globe Life does not require a medical exam for the term, whole life, or accidental death plans. Since they will not have this information, they charge a little more to make up for the additional risk.


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