Globe Life Insurance Review
Globe Life offers several types of life insurance and they are just one of the many companies you can get a quote for on this website. When you enter your information in the quote tool to the side of this article you will see all the companies rates in your area.
Not all companies or products will be a perfect fit for you, and this is why we recommend a quick phone call to us at 1-844-528-8688 where we can sort through all the fluff and find the policy that not only finds your needs but with premiums that are in your budget.
While globe is not a traditional no medical expense term life insurance carrier, I thought it important to do a Globe Life Insurance review due to their advertising and media coverage. They are a big name in the life insurance arena and below you will find details on the company, and see if they are a fit for your situation.
Globe Life Company Information
Globe Life is headquartered in Oklahoma City, Oklahoma and is a wholly owned subsidiary for Torchmark Corp. The company was started by two partners in 1951 as an insurance agency, and named Globe Life was conceived. The partners decided that they would market low cost dependable life insurance to American rural areas.
They were very successful and had a reputation of integrity and fairness in their business dealings. As the company gained recognition they branched out to sell into other states, and by 1961 had customers in 36 states. Globe Life is now in every state other than New York.
Globe Life carries a rating of A+ for AM best which is a financial rating of excellent. The company reports 44 million policy holders with $77 billion of insurance in force.
Globe Life no exam term life insurance is offered in amounts up to only $100,000.00 which is a very low maximum compared to other companies offering no exam term life insurance.
Globe Life Insurance Pricing
Globe Life has a unique pricing structure, where you are only charged $1 for the first month of coverage. After the first month the premium you pay will be calculated by your age as of the effective date of the policy.
Globe Life Insurance Term Lengths
Much like the pricing structure, Globe Life also does not conform to the the standard term lengths of 10, 15, 20, and 30 year lengths.
The term length structure for globe life no exam term life insurance policies is set in five year age brackets, and is renewable at the new rate for the next five year term with a final term to the age of 86.
The age brackets do not start when you sign up but are already determined and you may start in the middle of one of the terms which would give a shorter first term before an increase.
If you were age 33 your first term would be to the age bracket of 36 giving you a three year first term. Then at age 36 you would be able to renew at a higher rate for the new age band.
Most other term life policies are for the entire term and will not change, for instance if you bought a 30 term life insurance policy from another company, the rates would be guaranteed for the entire 30 years.
Think carefully if the no medical exam term life insurance from Globe Life is going to be the right fit for your family or if you would be served better by one of these no medical exam term life insurance companies.
Globe Life Underwriting Process
Globe Life uses a simplified underwriting process, and does not require an examination. You will answer some simple yes or no questions to determine your eligibility and that is it.
You either qualify for a policy or you do not, it is that simple.
Globe Life Insurance Review | Recommendation
While Globe Life is a stable and very reputable company, we feel that their offerings for no exam term life insurance are lacking compared to other companies in this arena.
If you are looking for a true 15, 20, or 30 term no exam life insurance policy, give us a call at 1-844-528-8688. We will go over all companies offering term life insurance without a medical exam in your area.
By calling us you will get an informed, unbiased FREE quote for all your life insurance needs.