Is Globe Life Insurance Legit?

Choosing an insurance provider can be a daunting task, especially with the abundance of options available. When it comes to life insurance, Globe Life Insurance is a well-known name among many. But the big question is, is Globe Life Insurance legit? In this article, we’ll take a closer look at this insurance provider and help you determine if it’s the right fit for you.

About Globe Life Insurance

Globe Life Insurance, also known as Globe Life & Accident Insurance Company, has been in the insurance business for over 63 years. It was founded in 1951 and is headquartered in McKinney, Texas. The company provides life insurance coverage for individuals and families across the United States.

Globe Life Insurance is a subsidiary of Torchmark Corporation, which is a publicly traded company on the New York Stock Exchange. Torchmark Corporation has been in business since 1900 and is known for its financial strength and stability.

Financial Ratings

When it comes to choosing an insurance provider, the financial ratings play a crucial role. These ratings reflect the financial strength and health of the company. Here are the financial ratings for Globe Life Insurance:

As you can see, Globe Life Insurance has excellent financial ratings from all major rating agencies, which indicates that they are financially stable and reliable.

Globe Life Insurance Products

Globe Life Insurance offers a range of life insurance products to suit different needs and budgets. Here are the products offered by Globe Life Insurance:

Term Life Insurance

Globe Life Insurance offers term life insurance that provides coverage for a specific period, typically 10 to 30 years. The premiums for term life insurance are generally lower than other types of life insurance, making it an affordable option for many.

Globe Life Insurance’s term life insurance plans are available in various coverage amounts, starting from $5,000 to $100,000, and are renewable up to the age of 90.

Whole Life Insurance

Whole life insurance is a type of life insurance that provides coverage for the entire lifetime of the policyholder. It also features a savings component that accumulates cash value over time.

Globe Life Insurance’s whole life insurance plans are available in varying coverage amounts, starting from $5,000 to $50,000. The premiums remain the same throughout the policy’s life, and the policyholder can access the cash value at any time.

Accidental Death Insurance

Accidental death insurance provides coverage in the event of an accidental death. This type of policy does not require a medical exam, making it an accessible option for many.

Globe Life Insurance’s accidental death insurance plans are available in various coverage amounts, starting from $10,000 to $250,000.

Frequently Asked Questions

Is Globe Life Insurance legit?

Yes, Globe Life Insurance is a legit insurance provider. It has been in business for over 63 years and has excellent financial ratings from all major rating agencies.

How much does Globe Life Insurance cost?

The cost of Globe Life Insurance varies depending on the coverage amount, age, health status, and other factors. However, Globe Life Insurance is known for its affordable premiums, making it accessible to many individuals and families.

How do I apply for Globe Life Insurance?

You can apply for Globe Life Insurance by visiting their website or by calling their customer service number. The application process is straightforward, and you can get a quote in minutes.

Can I cancel my Globe Life Insurance policy?

Yes, you can cancel your Globe Life Insurance policy at any time. However, keep in mind that cancelling a policy may incur fees or penalties, and you may lose any cash value that has accumulated.

What happens if I die during the policy’s term?

If you die during the policy’s term, your beneficiaries will receive a payout for the coverage amount. The payout can be used to cover any expenses, debts, or financial obligations.

Final Thoughts

In conclusion, Globe Life Insurance is a legit insurance provider with a long history of serving individuals and families across the United States. They offer affordable and reliable life insurance products with excellent financial ratings. If you’re looking for a life insurance provider, Globe Life Insurance is worth considering.