Globe Life Burial Insurance: Legit Or Scam?

Globe Life Insurance is a holding company that provides life and supplemental health insurance. It offers a range of insurance products, including term, whole, universal, and guaranteed issue life insurance, as well as accident, critical illness, and long-term care insurance. With over 16.8 million policies in force, it is one of the largest life insurance companies in the United States. The company's application process is simple, requiring no medical exam, and rates start as low as $3.49 per month for adults and $2.17 per month for children. However, there have been some negative reviews regarding billing issues, customer service, and unexpected rate increases. This has led some customers to question the legitimacy of the company and its policies. Is Globe Life burial insurance a legitimate option for those seeking affordable coverage for final expenses?

Globe Life Insurance reviews

Globe Life Insurance offers a range of life insurance products for both adults and children, with coverage amounts up to $50,000 for adults and $30,000 for children. The company boasts a simple application process that requires no medical exam and offers rates starting as low as $3.49 per month for adults and $2.17 per month for children. Globe Life also provides a 30-day money-back guarantee and online bill payment options, including a mobile app for easy access to policies.

Customer reviews for Globe Life Insurance are mixed. On Trustpilot, the company has received an average rating of 4.2 out of 5 stars, with several positive reviews praising the professionalism, courtesy, and helpfulness of the company's employees. However, on ConsumerAffairs, the company has received a lower rating of 2.3 out of 5 stars, with some customers reporting issues with billing, customer service, and claims processing.

One common complaint among negative reviews is the aggressive sales tactics and constant marketing experienced by customers, even after purchasing a policy. Some customers have also reported issues with policy cancellations and refunds, with Globe Life allegedly withholding refunds or applying payments to cancelled policies. Additionally, there are concerns about the company's customer service, with reports of long wait times, rude representatives, and difficulty reaching the appropriate department.

In terms of financial strength, AM Best gives Globe Life an A (Excellent) rating, indicating a strong ability to meet its financial obligations and pay out claims. The company also scored above average in the 2023 J.D. Power U.S. Life Insurance Study, achieving a score of 798 compared to the industry average of 790.

Overall, Globe Life Insurance may be a good option for those seeking affordable life insurance with a simple application process and no medical exam. However, the mixed customer reviews highlight the importance of thorough research before choosing an insurance provider to ensure that your specific needs and expectations are met.

Globe Life Insurance application process

The application process for Globe Life Insurance is straightforward and can be completed in minutes online or over the phone.

To apply, you can use the quote tool on the Globe Life website or call their customer service line. You will need to choose your desired level of coverage (up to the maximum of $50,000 for adults and $30,000 for children) and provide some personal information, including your age, location, beneficiaries, and medical history.

Globe Life does not require a medical exam, but it is important to answer honestly about your medical history during the application process. Make sure to disclose any pre-existing medical conditions, as failing to do so may result in the company not paying the death benefit.

The company offers a 30-day money-back guarantee if you change your mind after applying. They also provide free quotes with minimal personal information, and rates start as low as $3.49 per month for adults and $2.17 per month for children.

Overall, the Globe Life Insurance application process is designed to be simple and accessible, providing an easy way to obtain life insurance coverage.

Globe Life Insurance policies and coverage

Globe Life Insurance offers a range of life insurance policies, including term life insurance, whole life insurance, child whole life insurance, and final expense insurance (also known as burial insurance). Their policies are available for adults and children, with coverage amounts ranging from $5,000 to $100,000. The company highlights its initial low cost, with rates as low as $3.49 per month for adults and $2.17 per month for children.

Term life insurance from Globe Life typically lasts one to 30 years and offers coverage from $5,000 to $100,000. Whole life insurance, which covers individuals for their entire lives, has coverage options from $5,000 to $50,000. This type of policy builds cash value over time, allowing policyholders to take out loans against their policies.

Globe Life also offers child whole life insurance, with coverage ranging from $5,000 to $30,000. The rates for this policy are based on the child's current age and remain the same throughout their life.

Final expense insurance, also known as burial insurance, is designed to cover funeral costs and other end-of-life expenses. Globe Life offers coverage options from $5,000 to $100,000 for this type of policy.

It's important to note that Globe Life has received a high volume of consumer complaints, particularly regarding claim payments, policy cancellations, and customer service. Prospective customers may want to consider this when making their purchase decision.

Globe Life Insurance rates

Globe Life Insurance offers both term life and whole life insurance policies. Their term life insurance rates start at $3.49 per month for adults, while whole life insurance rates for children start at $2.17 per month. However, it's important to note that rates may vary based on factors such as age, health, and income.

For adults, Globe Life offers term life insurance with no medical exam required. The monthly rates for this type of policy can be as low as $3.49, and the coverage amounts range from $5,000 to $100,000. The application process is simple, and there is no waiting period for coverage to begin. Globe Life also offers whole life insurance, which provides permanent coverage and builds cash value over time. This type of policy is only available for children and has a maximum coverage amount of $30,000. The rates for whole life insurance are locked in at the time of purchase and will never increase.

The company also offers accidental death insurance, which provides coverage for specific types of accidental deaths and offers additional benefits in certain situations, such as accidental death while wearing a seatbelt or on a commercial airline. This type of policy has guaranteed acceptance for individuals between the ages of 18 and 69, with no health questions or medical exams.

While Globe Life's rates are competitive, it's worth noting that they have received more customer complaints than the average life insurance company. Some common complaints include issues with the claims process, billing, and persistent sales calls.

Globe Life Insurance claims process

The claims process for Globe Life Insurance differs depending on whether the policy has been in force for longer or less than two years. If the policy is less than two years old, it is considered "contestable", and claims are subject to further review, which may increase the processing time. In this case, claimants need to complete the Proofs of Death – Claimant Statement in its entirety and provide additional documentation, including a certified death certificate, a copy of the obituary, and, in the case of accidental death or homicide, autopsy, toxicology, and police reports, as well as a copy of the coroner's report.

On the other hand, if the policy has been in force for more than two years, it is considered "incontestable", and the claim will be paid as soon as all the required documents are received and examined. For these claims, only sections A and D of the Proofs of Death – Claimant Statement need to be completed, along with the same additional documentation as for policies less than two years old.

It is important to note that if the policy has been in force for more than two years and the benefit amount is $50,000 or less, claimants can email or fax the required information instead of mailing the completed forms and documentation.

The process can be expedited by accurately completing all necessary portions of the claim form and providing as much supporting documentation as possible. Once a claim has been processed, claimants can typically expect to receive their check within 10 to 15 business days. If there are any issues or concerns, Globe Life Insurance advises policyholders to contact their Customer Service Department for assistance.

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