Paul Sanchez
Globe Life Insurance offers a simple application process for its children's life insurance policy, with no medical exam required. The policy is permanent insurance, similar to whole life insurance for adults, which accumulates cash value over time. Parents, stepparents, grandparents, great-grandparents, and legal guardians are eligible to apply, and coverage begins immediately upon the first payment. While Globe Life Insurance has received excellent ratings for its financial strength and management skills, it has also attracted numerous complaints. Applications can be made online, by phone, or by requesting a call back.
| Characteristics | Values |
|---|---|
| Application Process | No medical exam, simple application, free quote |
| Application Methods | Online, over the phone |
| Coverage | Credit card bills, home and car loans, children's future education, medical and burial expenses |
| Policy Type | Whole life insurance, permanent insurance |
| Cost | Choose the right coverage amount to fit your monthly expenses |
| Age Limit | No explicit age limit mentioned, but most companies cap out at age 17 for new applicants |
| Customer Service | Mixed reviews, with some praising the professionalism and courtesy of the staff, while others have complaints |
| Ratings | Rated A (Excellent) by A.M. Best Company for financial strength, management skills, and integrity |
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Application methods
Globe Life Insurance offers life insurance for children, which is similar to adult life insurance policies but with some differences. While children's term life policies are available, most juvenile life policies are permanent and whole life insurance.
Parents, stepparents, grandparents, great-grandparents, or legal guardians are eligible to apply for Globe Life Insurance for their children. There are three ways to apply:
- Online: You can visit the Globe Life Insurance website and fill out an online application form. The application is simple and does not require a medical exam. You can also get a free quote before applying.
- Phone: You can call them at 1-800-742-6787 and apply over the phone.
- Direct Purchase: You can buy directly from the comfort of your home. The online application only takes a few minutes to complete.
Once your child is approved, they will be fully covered as soon as you make the first payment, which is $1 for the first month's premium. There is no waiting period, and the policy will build equity over time, known as the "cash value," which you can use for anything, including your child's college expenses.
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Medical exams
There is no medical exam required for Globe Life Insurance for children. Instead, the application process is simple and can be completed online or over the phone. The company offers a free quote for those interested in purchasing a policy. This is similar to other providers, such as Gerber Life Insurance, which also does not require a medical exam for its Grow-Up Plan.
Globe Life Insurance's child policies are permanent insurance, like whole life policies. This means that they are designed to provide coverage for the child's entire life, rather than a specific term. The policy will build equity over time, known as the "cash value," which can be used for any purpose, including college expenses.
The Gerber Life Grow-Up Plan is another option for parents looking for life insurance for their children. This plan is a whole life insurance policy that accumulates cash value over time. The policyholder pays the monthly premium until the child turns 21, at which point the child becomes the policyholder and can choose to continue the policy or surrender it to receive the accumulated cash value.
Gerber Life also offers a Young Adult whole life insurance plan for children ages 15-17. This plan provides coverage for older teenagers who may be approaching adulthood and have different insurance needs.
It is worth noting that Globe Life Insurance has received numerous complaints and has a less-than-stellar reputation compared to other companies. However, some customers have praised the company for its professional customer service and efficient handling of inquiries.
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Policy types
Globe Life offers whole life insurance policies for children. This type of insurance provides permanent coverage for the insured child as long as premium payments are made. Whole life insurance for children builds equity over time in the form of "cash value", which can be used for any purpose, such as paying for college expenses. The monthly rate for this type of policy is based on the child's present age and remains the same for their lifetime.
The Grow Up Plan is one of Globe Life's popular offerings, which includes an automatic doubling of coverage to $100,000 when a child turns 18 if the original policy was purchased at $50,000. Additionally, Globe Life offers the Young American Plan for youth under the age of 25, making it an appealing option for older teenagers and college students.
Globe Life also provides term life insurance policies without a medical exam, with coverage of up to $300,000 and immediate activation after purchase.
While Globe Life does not explicitly mention different policy types for children's life insurance on its website, it emphasizes the benefits of whole life insurance for children, including financial protection and the accumulation of cash value over time.
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Payment methods
When it comes to payment methods for Globe Life's children's insurance, the company offers multiple options. These include credit card payments, bank draft, or sending payments through the mail. This flexibility allows customers to choose the payment method that best suits their preferences and financial situation.
It is worth noting that Globe Life's children's insurance is a whole life insurance policy available to children or grandchildren aged 0-24. This means that the policy will remain in effect for the child's entire life, providing lifelong financial protection. Additionally, Globe Life's excellent financial strength, management skills, and integrity have been recognised by A.M. Best Company, further assuring customers of their reliability.
In terms of cost, Globe Life offers low prices, with rates that are significantly lower than competitors like Gerber Life. With Globe Life, you can buy up to $50,000 in coverage, ensuring comprehensive protection for your child's future. The first month's premium is offered at just $1, making it an affordable option for families.
While Globe Life does not include free add-on riders like some other companies, they do guarantee the right for insured children to buy more coverage as adults. This means that your child will have the option to increase their financial protection in the future if needed. Additionally, there is no waiting period, so your child will be fully covered from the day you make the first payment.
When considering payment methods, it is also important to think about the frequency of payments. Some companies offer monthly payment plans, which can help spread out the cost of insurance over time. However, it is essential to review the specific payment options provided by each company, as they may differ. For example, some companies accept mailed-in monthly payments, while others require automatic drafts from your bank account.
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Customer reviews
Applying for Globe Life Insurance for children is a straightforward process. There is no medical exam—just a simple application. You can apply for a free quote online.
Reviews for Globe Life Insurance are overwhelmingly positive. Customers have given the company a 5 out of 5-star rating on the Globe Life Insurance website, praising the company's professionalism, courteousness, and respectfulness. Many customers have also highlighted the excellent customer service provided by the company, with one reviewer noting that they were speaking to a live person within 90 seconds of calling.
> "Globe life insurance company has very professional customer service members who are very professional and courteous to its policyholders, and I would recommend them to anyone!" – James Brown
> "The service was excellent, the customer service specialist acknowledged my concern and completely resolved it. I was speaking with a live person within 90 seconds after calling." – Linda Horton King
> "I have been with Globe for 17 years and I am very satisfied with them." – Trish Hanerfeld
> "Very respectful and processed the claim in a timely manner." – Jo Headrick
> "I was treated as a valuable customer." – Linda Williams
> "Omg, the customer service was through the roof. My call was a hard one; we had to call my son and talk to him about the life insurance policy I was taking out on him." – Sharnette Manuel
In addition to customer reviews, Globe Life Insurance has been rated A (Excellent) by A.M. Best Company based on their analysis of the company's financial strength, management skills, and integrity.
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Frequently asked questions
You can apply for Globe Life Insurance for kids by calling them at 1-800-742-6787. There is no medical exam—just a simple application.
While most companies cap out at age 17 for new applicants, Globe Life Insurance offers coverage for children of all ages.
While children’s term life policies are available, most juvenile life policies come in the form of permanent insurance like whole life.
No, your kids are fully covered the day you make the first payment.
Globe Life Insurance for kids offers peace of mind for you and your family. It provides financial protection for credit card bills, loans, your child's future education, and even medical and burial expenses. The policy also builds equity over time, which can be used for anything, including your child's college expenses.
