Understanding Globe Life Insurance

Understanding Globe Life Insurance

If you are considering purchasing life insurance, there are several plans and insurers that you can choose from. It will be important to review all of your options and choose the best policy for your needs. Globe Life is an insurance company that is among the many options that you have. Founded in 1951 by two friends and business partners, the company originally sold quality, inexpensive life insurance policies in rural Oklahoma. Today, the company serves more than 4 million policyholders and has written policies totaling more than $82 billion.

Offering multiple insurance policies and protections, Globe Life Insurance has coverage for both adults and children. Globe Life is unique because the company doesn’t require medical exams for policyholders. The company issues insurance products based on the application and health survey. If you seek life insurance without the hassle of an invasive medical exam, Globe Life might be a good option.

Aside from a no medical exam policy, Globe Life also offers other perks, such as a 30-day money-back guarantee and no waiting period for coverage. Selecting life insurance is a big decision that can impact your entire family. Before you decide on coverage, you should carefully consider your options. Globe Life might be the best company for your family based on their plans and coverage options. Let’s take a closer look at the Globe Life company.

Available Plans

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Globe Life offers five life insurance plans that provide several coverages for policyholders. To decide which type of policy you need and how much coverage you should get, you will want to consider several factors. In general, if you have a spouse, children, or other dependents who rely on your income, you might consider a life insurance product. Additionally, If your spouse or loved ones will not be able to pay off debts alone, you should consider coverage amounts that could take care of this. Fortunately, Globe Life has policies that can help you cover a variety of situations.

Term life insurance offered by Globe allows you to purchase coverage amounts ranging from $5,000 to $100,000. You can get policies that are valid up to 20 years in length. Like many other term life policies, Globe’s policies do not gain cash value. Whole life policies are offered in the same coverage amounts, and your policy is valid for your lifetime as long as you continue to make your premium payments. Like other companies’ whole life policies, Globe’s whole life plans increase in value. In addition to these policies, you can get mortgage protection insurance with coverages ranging from $50,000 to $350,000.

Globe Life also offers life insurance coverage for children. This is a form of whole life insurance that will build cash value and offers coverage amounts of $5,000 to $30,000. You can purchase life insurance for a child until they reach the age of 25. Finally, you also have the option of purchasing an accidental death life insurance policy designed as a supplement to other life insurance coverage. It can provide additional coverage up to $250,000 for covered accidental deaths or losses.

Insurance Rates

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Insurance companies consider several factors when determining insurance rates. As discussed, however, Globe Life doesn’t require a medical exam for policyholders. Even without a medical exam, the company will still look at your health, age, lifestyle, and other factors to determine your rate. Globe Life offers a $1 premium for your first month. After your initial payment, your rates will vary by location. For a 35-year-old female, the average monthly rates range from $3.57 to $39.67 based on coverage amounts. A 35-year-old male will have average monthly payments from $4.16 to $59.99 per month for the same amounts. With Globe’s term life policies, your rates increase with your age about every five years.

Globe Life offers life insurance coverage to meet the needs of many situations. With various insurance policies, competitive rates, and no medical exams, Globe could provide you with a life insurance policy that fits your family and budget.