Jane Dotson
Founded in 1900, Globe Life is a life insurance provider with a range of products that do not require a medical exam, making it a convenient option for many consumers. The company offers term, whole, and final expense life insurance policies, as well as mortgage protection and children's life insurance. While Globe Life has received high ratings for financial strength and has life insurance agents across the country, it has also drawn a high volume of consumer complaints, with customers reporting issues with claims, policy cancellations, and aggressive sales practices. Overall, Globe Life may be a good option for those seeking a widely available life insurance provider with no-medical exam options, but potential customers should carefully consider the company's mixed reputation and limited digital tools before making a decision.
| Characteristics | Values |
|---|---|
| Initial cost | $1 for the first month |
| Subsequent cost | Quickly increases |
| Customer satisfaction | Ranked No. 16 out of 21 companies in J.D. Power's 2024 U.S. Individual Life Insurance Study |
| AM Best financial strength rating | A (Excellent) |
| NAIC complaint rating | Above average |
| Policies offered | Term, whole life, child whole life, final expense insurance |
| Purchase options | Online, over the phone, by mail |
| Claim options | By mail, email, fax |
| Underwriting companies | Globe Life and Accident Insurance Company, Liberty National Life Insurance, United American Insurance Company, American Income Life Insurance Company, Family Heritage Life Insurance Company of America, Globe Life Insurance Company of New York, National Income Life Insurance Company |
| Pros | Numerous insurance products available, several no-medical-exam insurance options, can purchase some policies online |
| Cons | Most coverage amounts lower than other companies' offerings, no-medical-exam policies usually have higher premiums, no online chat and few digital tools |
What You'll Learn
Pros and cons of Globe Life insurance
Pros
- Globe Life offers a mix of term and permanent life insurance policies.
- The company offers low rates for the first month.
- Globe Life's insurance policies do not require a medical exam.
- The company offers online, over-the-phone, and mail options to buy a policy.
- Globe Life has a mobile app for Android and Apple users.
- The company offers accidental death insurance, mortgage protection insurance, and supplemental health insurance.
- AM Best gives Globe Life an A (Excellent) financial strength rating.
- Globe Life scored above average in the 2023 J.D. Power U.S. Life Insurance Study.
- Globe Life offers life insurance in all 50 states.
- The company has a range of insurance products available.
- Globe Life has several no-medical-exam insurance options.
- The company allows customers to purchase some policies online.
Cons
- Globe Life has received a high volume of consumer complaints.
- The company has relatively low coverage amounts available.
- Customers cannot file a claim online.
- Globe Life's coverage amounts are lower than those offered by other companies.
- No-medical-exam policies usually have higher premiums.
- The company does not offer online chat support and has few digital tools.
- Globe Life has received a higher-than-average complaint index according to the NAIC.
- The company has limited digital tools and accessibility compared to other top life insurance companies.
- Globe Life has been accused of scam-like behaviour and practices.
- Customers have reported issues with the company's customer service.
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Globe Life customer complaints and satisfaction
Globe Life has received a high volume of consumer complaints, with customers reporting issues with the company's billing department, customer service, and claims process.
A common complaint among customers is the difficulty in reaching customer service representatives and the unhelpfulness of those representatives when they are reached. Some customers have reported being placed on hold for extended periods, being transferred multiple times, and ultimately not having their issues resolved.
There have also been complaints about unexpected premium increases, policies being cancelled without authorisation, and issues with the claims process, including delays in receiving payouts and difficulty submitting the required documentation.
In addition, some customers have reported being bombarded with incessant calls and junk mail from the company, even after cancelling their policies.
On the other hand, some customers have praised Globe Life's simple application process, low initial rates, and the convenience of its online bill payment and mobile app.
According to a NerdWallet analysis of data from the National Association of Insurance Commissioners, Globe Life has drawn far more than the expected number of complaints to state regulators for a company of its size over a three-year period.
In the 2023 J.D. Power U.S. Life Insurance Study, Globe Life scored above average, receiving a score of 798 compared to the industry average of 790. However, in the 2024 study, the company ranked 16th out of 21 companies for customer satisfaction.
The National Association of Insurance Commissioners (NAIC) evaluates the volume of complaints received by insurance companies using a baseline scoring method, where a score of 1.0 represents the industry average. Over the past three years, Globe Life has consistently received above-average scores, indicating that the company could improve its standards for customer service.
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Globe Life's corporate sustainability policy
Globe Life's corporate sustainability efforts are focused on supporting communities and promoting sustainability. In its 2023 Environmental, Social and Governance Report, the company highlighted its commitment to these values.
In 2023, Globe Life donated over $4.1 million to various community initiatives, including those supporting youth and family, veterans, education, health, and senior citizens. The company also contributed $2.3 million to tax credit scholarship programs, providing scholarships and access to specialised educational services and materials. Globe Life's charitable partnerships include the American Heart Association, Special Olympics, and Meals on Wheels.
The company encourages its employees to participate in charitable activities and has programs that match employee donations dollar for dollar, up to $5,000 per colleague per year.
In terms of sustainability, Globe Life has issued an annual Environmental, Social and Governance Report every year since 2019, demonstrating its commitment to transparency and accountability in these areas.
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Globe Life's company details
Globe Life (GL) is an American financial services holding company listed on the New York Stock Exchange. It is based in McKinney, Texas, and was founded in 1900 as the Liberty National Life Insurance Company. In 1980, Liberty National acquired Globe Life and Accident Insurance Company and formed the Torchmark Corporation holding company. In 2019, Torchmark Corporation was renamed to Globe Life and its ticker symbol was changed from "TMK" to "GL".
Globe Life offers a range of life insurance policies, including term, whole, and final expense insurance. The company also provides supplemental health insurance and annuities, such as accident, cancer, critical illness, hospital, and ICU insurance.
The company has several underwriting companies under its name, including:
- Globe Life and Accident Insurance Company
- Liberty National Life Insurance (Globe Life Liberty National Division)
- United American Insurance Company
- American Income Life Insurance Company
- Family Heritage Life Insurance Company of America (Globe Life Family Heritage Division)
- Globe Life Insurance Company of New York
- National Income Life Insurance Company
Globe Life has a nationwide presence in the US, with availability in all 50 states. However, coverage options and eligibility criteria may vary depending on the state.
- Sales: (800) 831-1200
- Customer service: (844) 726-4372
- Website: globelifeinsurance.com
- AIL Special Risk Division: (800) 849-4820
- Customer service email portal
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Globe Life's tools and benefits
Globe Life and its subsidiaries focus primarily on life insurance, but they also provide supplemental health insurance and annuities. Here are some of the tools and benefits they offer:
- Accident insurance: This policy helps cover costs related to ambulance services, emergency treatments, hospitalization, and intensive care following an accident. It also includes an additional death benefit if the policyholder dies due to an accident.
- Cancer insurance: This type of insurance provides financial support for expenses related to a cancer diagnosis that are not covered by health insurance, such as income replacement, childcare costs, and transportation to treatment facilities.
- Critical illness insurance: This insurance offers a lump-sum benefit following a covered critical illness, such as a heart attack or stroke.
- Hospital insurance: This policy covers medical bills and loss of income resulting from a hospital stay, including deductibles, coinsurance, and copayments.
- ICU insurance: This type of insurance is designed to cover all or part of any stays in the ICU that traditional insurance plans may not cover.
In addition to these tools and benefits, Globe Life also offers a range of life insurance policies, including term, whole, and final expense insurance. Their policies are available in all 50 states and do not require a medical exam, making them convenient and accessible to many consumers. However, it is important to note that no medical exam does not guarantee a policy, and individuals with chronic or severe health issues may still be declined coverage.
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Frequently asked questions
Global Life Insurance offers a mix of term and permanent life insurance, with low rates for the first month and the option to buy a policy online, over the phone or via mail. They also have a range of insurance products available, including term, whole and final expense insurance, and several no-medical-exam insurance options.
Global Life Insurance has received far more than the expected number of complaints for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners. They also have limited digital tools and higher premiums for no-medical-exam policies.
Global Life Insurance offers term, whole and final expense insurance, as well as mortgage protection insurance and children's life insurance. They also offer supplemental health insurance, including critical illness insurance, hospital insurance, cancer insurance, ICU insurance and accident insurance.
The claims procedure varies by underwriter, as there are seven companies that underwrite Global Life insurance policies. Some underwriters allow claims to be submitted by email or fax, while others require them to be mailed. Common data required to file a claim include the policy number, policyholder's name, address, date of birth and phone number, as well as a death certificate and other relevant documents.
Customer feedback on Global Life Insurance is mixed. Some customers have reported positive experiences with the company, praising helpful and professional agents. However, there are also numerous negative reviews citing issues with policy cancellations, poor customer service, unexpected premium increases and difficulty accessing cash value.
