Pros Explained

• Same-day coverage: Globe Life generally issues policies the same day that a customer completes an application. This convenience is among the company’s major selling points.
• No medical exams: Globe Life’s policies do not require a medical examination, which streamlines the application and approval process.
• High customer satisfaction rating: In J.D. Power’s ranking of individual life insurers for customer satisfaction, Globe Life ranks second out of 22 companies.

Cons Explained

• Few policy types: Globe Life offers only term and whole life insurance policies, and very few riders. If you want to keep your options open, you'll need to look elsewhere.
• Detailed personal information required for quotes: Globe Life’s website asks users to enter their name, mailing address, and email address to access a quote estimate. Other companies don't require sharing personal data to get a quote.
• Low maximum coverage amount: Globe Life’s policies offer relatively low coverage amounts. For example, its term policies are capped at $100,000, significantly lower than many competitors, whose coverage amounts often exceed $1 million.
• Limited amount of policy information on website: Globe Life’s website offers few details about its policies and payment methods.

Complaint Index

Over a three-year period, Globe Life registered nearly three times as many complaints as average for a company its size. Its average complaint index score from 2020–2022 with the National Association of Insurance Commissioners is 2.94. NAIC calculates a complaint index for insurance companies based on the number of consumer complaints received and the company’s market share. An index of 1.00 indicates an expected number of complaints, whereas an index under 1.00 indicates fewer complaints than expected for a company’s size.

We found that the three-year average index for most of the top companies we reviewed did not exceed the average score of 1.00.

Third-Party Ratings

Insurance rating agency AM Best assigned Globe Life an A (Excellent) rating, which means it deems it to be in an excellent position to honor its ongoing insurance obligations, such as paying claims.

AM Best assesses the financial strength of many insurance companies to determine their ability to pay claims and meet other financial obligations. The financial strength ratings of insurers are important when it comes to life insurance because it is a long-term agreement and requires buyers to have confidence that the insurer will deliver on its promise.

When it comes to customer satisfaction, Globe Life also does well. It sits comfortably above the industry average in J.D. Power’s 2022 U.S. Individual Life Insurance Study. Globe Life earned a score of 812, placing it second out of 22 companies in the study. (State Farm took the top spot with a score of 839).

Policies Available

Globe Life offers a few life insurance policies, including term life, whole life, and final expense policies. The policy types, and the company’s specific products, are described below. None of Globe’s policies require a medical exam, but you may be required to answer health questions.

Term Life

Term life insurance guarantees payment of a stated death benefit to the insured's beneficiaries if the insured person dies during a specified term—for example, 20 years. Unlike permanent life insurance policies, term policies typically have no savings component and no value other than the death benefit. They expire at the end of the term period unless eligible for conversion to a permanent policy or renewal on an annual basis.

Whole Life

Whole life insurance is a type of policy that remains in force until the policyholder's death policyholder as long as premiums are paid. The plan accrues cash value over time. The insured can borrow against the policy or allow its value to build.

Final Expense Insurance

Also called funeral insurance or burial insurance, final expense insurance is a type of whole life insurance that provides a small death benefit to cover expenses such as a funeral or memorial service, embalming, and a casket, or for any purpose, such as paying property taxes or taking a vacation. Globe Life’s final expense coverage can be acquired online or through the mail.

Available Riders

Riders are provisions in an insurance policy that extend protection or provide additional coverage. Riders may require an additional payment on top of any regular policy premium. However, they can also be purchased on their own.

Accidental Death Benefit

Globe Life offers an accidental death benefit rider, which pays an amount above the policy’s face value if the insured dies as the result of an accident.

Customer Service

You can get more information about Globe Life's customer service on the . Customer assistance can be reached by phone at (844) 726-4372 from Monday through Friday between 7:30 a.m. and 6:30 p.m. CT.

Final Verdict

Globe Life Insurance may be a good option for someone who needs a policy quickly without a medical exam. The company issues policies on the same day and does not require an exam. However, term policies have a cap of only $100,000, far less than what many of its competitors offer. As well, few details are available online, and getting a quote requires entering more personal information than other insurers require. There also is mixed information in regard to customer service. While Globe Life scores highly with J.D. Power, the company's NAIC complaint index score shows that it receives many more complaints than similar insurers on a consistent basis.

Methodology

We designed a comprehensive ranking methodology based on consumer priorities and life insurance company fundamentals to rank more than 90 insurers across five general categories: financial stability, customer satisfaction, product and feature variety, the overall buying experience, and cost. In order to do this, we collected over 5,000 data points and scored each company based on 55 metrics. We grouped metrics by category to see how insurers performed in each; we then weighted category scores to determine how companies performed overall.

To learn more, read our full Life Insurance Methodology.