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Globe Life Final Expense review [The Truth]

Here at BetterBurialInsuranceToday.com, we want to only supply the KNOWLEDGE and the given FACTS to give you an insight on which policy that gives you the PEACE OF MIND. A true policy that you can Dream On!

With that being said,

Let’s get started on analyzing on how Globe Life insurance works…

Got mailers?

The most sough after way for this company to advertise is through the mail. Time and time again, we see clients question about what delivers at the doorstop. There is the “alright”, the bad, and the ugly, when it comes to globe life insurance.

So you may question…

How good is globe life insurance?

That’s a great question! Well to the NAIC, not so much. The NAIC, the complaint index, is a regulator in the insurance industry, as it is a database for complaints that have been filed. You can compare the NAIC to like a google review, per say.

There has been numerous complaints filed on Globe Life & Accident Insurance Company.

Click Here to view the past complaints on NAIC website.

Upon finding out this knowledge, we find this common issue to be true with some clients that we talk to daily.

Is Globe Life whole or term insurance?

Both. Globe Life offers term and whole life insurance. There is a not a guaranteed issue product that Globe Life offers. But for adults, the life insurance products that are offered in term life insurance. Here is a breakdown.

Globe Life Term Insurance

  • Type: Term Life Insurance
  • Termination Age: They CANCEL on your 90th birthday!
  • Monthly Rates: Premiums INCREASE every 5 years
  • Age Ranges: 18-79
  • Death Benefit Limit: $5,000-$100,000
  • Cash Value Accumulation: No
  • Medical Exam: No
  • Guarantee Issue: No
  • Health Questions: Yes

What is the application process?

In an application, there is information that needs to be provided. This information would be Name, Address, Height, Weight, SSN, and health questions are asked.

  1. Is the proposed insured currently disabled due to illness, confined to a hospital or nursing facility, or does the proposed insured require the use of a wheelchair?
  2. In the past 3 years, has the proposed insured been diagnosed or treated by a member of the medical profession for: Cancer, coronary artery disease, or any disease or disorder of the heart, brain or liver? Chronic kidney disease or kidney failure, muscular disease, mental or nervous disorder, chronic obstructive lung disease, drug or alcohol abuse, or hospitalized for diabetes? Acquired Immune Deficiency Syndrome (AIDS), AIDS Related Complex (ARC) or test results indicating exposure to the Acquired Immune Deficiency Syndrome virus?
  3. Does the proposed insured have any chronic illness or condition which requires periodic medical care or may require future surgery?
  4. In the past 5 years, has the proposed insured had his or her driver’s license suspended or revoked; been convicted of any felony; or is the proposed insured currently incarcerated?

Now, of course, them are the knockout questions. However, even if the answers to the questions are all No’s, you can still be denied.

Because, after all, the information is collected on an application it is sent to the underwriter for further review. This may involve the Medical Information Bureau, or the MIB, in which to help make the determination for coverage.

How much is Globe Life insurance for adults?

AgesMale
$10,000
Female
$20,000
Male
$20,000
Female
$20,000
41-45$11.11$8.17$20.51$14.36
46-50$14.18$10.54$26.34$18.85
51-55$17.91$13.00$33.49$23.61
56-60$23.16$16.14$43.60$29.74
61-65$30.84$20.28$58.49$37.89
66-70$42.24$26.19$80.73$49.58
71-75$59.54$35.38$114.79$67.81
76-80$79.46$49.72$154.59$96.41

Globe Life’s children insurance review

Furthermore, for the kids, it’s permanent life insurance. Here is a breakdown an a true Globe Life children’s insurance review.

  • Type: Whole Life Insurance
  • Termination Age: None
  • Monthly Rates: Level Premiums (they do not increase)
  • Age Ranges: 0-24
  • Coverage Amount Limit: $5,000-$30,000
  • Cash Value Accumulation: Yes
  • Medical Exam: No
  • Guarantee Issue: No
  • Health Questions: Yes

So, What is the application process?

In simplicity, the application is straight forward. Of course, with answers coming from the parents, or grandparents, there will be a couple questions that needs to be answered.

  1. Within the past 3 years, have any of the proposed insured(s) had any chronic illness or condition which requires periodic medical care?
  2. Have any of the proposed insured(s) ever been medically diagnosed or treated by a physician for Acquired Immune Deficiency Syndrome (AIDS)?

These are the knockout questions. If “yes” is stated to any of these two questions, the child will probably not get approved.

How much is Globe Life insurance for child insurance?

Age$10,000$20,000$25,000$30,000
0-4$3.83$7.15$8.81$10.47
5-9$4.48$8.50$10.51$12.52
10-14$5.43$10.27$12.69$15.11
15-19$6.49$12.23$15.10$17.97
20-24$7.98$15.06$18.60$22.14

Can i borrow money from my globe life insurance policy?

Well, for the kids policy you can borrow a loan amount upon cash build-up. Moneys are borrowed from the cash value in Life Insurance policies. Thus, with Globe Life having a whole life policy for ONLY the kids. Here, you may.

In conclusion, is Globe Life a good contender to consider?

Well, as far as the adults term life policy. I would have to defer. The prices on a globe life term policy is beyond the highest in the market compared to other insurance companies.

For the children’s whole life policy, it’s not to bad. It’s a possible top one to consider. A good one to compare it to, would be Mutual Of Omaha’s Children’s Policy!