Globe Life Insurance Review – It can be difficult sometimes to get a fair and honest review of life insurance companies. There are so many paid reviews and “advertorials” out there that cannot be trusted since, after all, the company being reviewed is often the one who paid for it.
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Globe Life Insurance Review
At LifeInsuranceBlog, we are an independent life insurance agency, and while we work with dozens of top rated life insurance companies and are familiar with many more, we are not paid to review anyone. So, today we are going to review Globe Life Insurance.
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If you’re looking to learn more about Globe Life, keep reading.
About Globe Life
Based in Oklahoma City, Globe Life And Accident Insurance Company has been providing insurance policies since its founding in 1951. However, you may have already heard of Globe Life Insurance. After all, they are known for advertising “$1 for $50,000 worth of life insurance coverage” (we’ll go over that soon enough). It isn’t necessarily difficult to get a policy with Globe Life, so if you’re desperate for coverage and are not too concerned with cost, they may be a good choice. For most people, however, there are various things to consider before jumping to apply with Globe Life.
Globe Life Rates
So, how about that dollar for a $50,000 life insurance policy? Surprise! This isn’t much more than an advertising gimmick that is used to draw you (and your money) in. What really happens is that your insurance premiums go up every five years. This is called a “guaranteed rate schedule”, and while the premium rates may seem very cheap and appealing at first, the rates are scheduled to go up after certain intervals. In the end, you’ll end up having paid much more than you would have had to with another company.
It is also worth noting that if you have a preexisting medical condition, you should known that Globe Life does not specialize in high-risk policies. In fact, whether you’re healthy or not, this company is more likely to overcharge you since they don’t spend much time going over your medical history.
As far as types of life insurance go, Globe Life doesn’t quite match up to the competition. For example, Globe life only offers term life insurance. While term life policies are great options for many people, they are not for everyone. Most of the top companies therefore offer forms of permanent life insurance as well, but to reiterate, Globe Life does not.
The Bottom Line
Whether or not you have a preexisting medical condition (though especially in that case), you want to make sure you are getting the best life insurance coverage for the lowest rates possible for someone in your particular situation. We work with over 60 different companies and particularly specialize in high-risk life insurance policies. The bottom line? There are better companies than Globe Life Insurance, we are confident that we can find you better coverage for lower rates.
Feel give us a call at 888-411-1329 or also start getting free, customized quotes right away using the quote tool on this page.