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Last updated on Apr 09, 2020

Globe Life Insurance Review

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Globe Life

  • 30-day money-back guarantee after you commit to a policy
  • End-of-life and accidental death coverage are included, but income replacement is not
  • Great for short-term coverage but not likely to meet long-term needs
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How We Reviewed Globe Life Insurance

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6 companies compared

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2 features evaluated

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5 ratings analyzed

Globe Life Insurance Review

Globe Life is a small insurance company offering little beyond basic coverage, but there is something to be said for the short-term coverage that Globe Life delivers. It also does not require medical exams for both term or whole life insurance, so the application process is easy.

Globe Life offers some unique coverage options, with limited life insurance for children and additional coverage like accidental death benefits and mortgage protection. Globe Life is a great starter company for life insurance, a good fit for those with few needs, but be prepared subpar customer service.

Basic coverage
No-exam options
Small service area
Limited coverage options
Few death benefits

The Life Insurance Factors We Analyzed

Customer experience

The National Association of Insurance Commissioners (NAIC) reports that Globe Life received far more complaints relative to size than other companies like State Farm and New York Life. Complaints include poor customer service and slow turnaround times for general inquiries, policy cancellations, and claims payments. The NAIC complaint index is troubling, especially since Globe Life isn’t rated by any other agencies like J.D. Power.

Coverage and rider information

Probably the biggest benefit to working with Globe Life is that customers don’t have to take a physical medical exam to qualify for coverage — though they do have to answer a few basic health questions on their application. These typically ask about alcohol and tobacco use, your family health history, and any significant complications in your own health history.

Along with basic life insurance, Globe offers fairly comprehensive accident coverage, which pays out if the policyholder passes away due to a motor vehicle accident. This coverage can be purchased in amounts up to $250,000, and acceptance is guaranteed if you’re between the ages of 18 and 69.

Globe’s accident coverage also comes with a number of supplementary benefits included. For instance, the policy will pay out an extra 10% if the insured person was wearing a seat belt during the accident, another 10% for education costs if they had a child between the ages of 15 and 22 at the time, and a separate benefit if they survive but are paralyzed.

The biggest drawback to Globe Life is its policy limitations. Death benefits are capped at $50,000 or $100,000 (depending on your state and the type of insurance you buy), which means it’s not well suited for people who require a lot of coverage. In addition to capping death benefits, Globe Life lacks a good selection of riders, so there are fewer ways to customize your policy.

Life insurance coverage features

Insurance types offered Term, whole, children’s
Term lengths offered Term-to-age-80, term-to-age-90
Standout coverage features Accident coverage
Children’s insurance
No-exam term coverage
No-exam whole coverage

Globe Life Insurance Overview: Financial Strength, Availability, and History

Globe Life Insurance is a mixed bag, receiving conflicting scores from industry experts. While customer satisfaction is reported as below average, the company itself holds top ratings from respected financial leaders. When you put customer service aside, Globe Life Insurance is a steady financial institution that has stood the test of time and continues to boast high scores from the Better Business Bureau (BBB), AM Best, Moody’s, and S&P Global.

  • In business since: 1951
  • S&P Global financial strength rating: AA-
  • Moody’s financial strength rating: Baa1
  • AM Best financial strength rating: A+
  • States served: 50 plus Washington, D.C.

The Competition

AM Best Financial Strength Rating J.D. Power 2019 U.S. Life Insurance Study Score NAIC Customer Complaints
Globe Life
A+ N/A More complaints than average
Northwestern Mutual
A++ 5/5 Fewer complaints than average
State Farm
A++ 5/5 Fewer complaints than average
A+ 4/5 Fewer complaints than average
New York Life
A++ 4/5 Fewer complaints than average
Mutual of Omaha
A+ 4/5 Close to no complaints

All information accurate as of February 4, 2020.

The Bottom Line

Globe Life is perfect if you’re looking for short-term or supplemental coverage. It provides basic life insurance that is a good starting point for those just getting started or living on a limited income. Coverage is basic, but it may offer enough for your first policy, especially if you’re looking for coverage without the need for a medical exam. Still, it’s not likely to fit the bill if you are searching for a more well-rounded policy or if you prioritize good customer service.

Globe Life Insurance FAQ