
Globe Life and Accident Insurance Company is a life and health insurance company based in McKinney, Texas, with executive offices in Oklahoma City and McKinney, Texas. The company was founded in 1951 by two longtime friends, Ralph Reece and John Singletary, with $60,000 of borrowed capital. Today, Globe Life has an A+ Better Business Bureau rating and is the official insurance company of the Dallas Cowboys. The company has grown significantly since its founding, with its life insurance premium increasing from approximately $221 million in 1998 to approximately $813 million in 2018. In addition to its financial strength, Globe Life has also faced legal issues, including a 2002 lawsuit in which it was fined $5,000 for failing to pay interest on death claims in Oregon.
Characteristics | Values |
---|---|
Location | McKinney, Texas |
Executive offices | Oklahoma City and McKinney, TX |
Subsidiary of | Globe Life |
Founded | 1951 |
Founded by | Ralph Reece and John Singletary |
Capital | $60,000 (borrowed) |
Original market | Rural Oklahoma communities |
Current marketing | Direct mail, internet, and call center sales |
Financial Strength Rating | A (Excellent) |
Partners | Texas Rangers, Dallas Cowboys |
BBB rating | A+ |
Closed complaints | Over 376 |
Employee Services Division | Offers supplemental life and health insurance for federal and state employees already covered by Federal Employee Government Life Insurance, or FEGLI |
Life insurance premium | $221 million (1998) to $813 million (2018) |
Naming rights | Globe Life Park in Arlington |
Lawsuit | Fined $5,000 for failing to pay interest on death claims in Oregon (2002) |
What You'll Learn
Globe Life's history
Globe Life and Accident Insurance Company, based in McKinney, Texas, provides life and health insurance coverage nationwide. The company was chartered in 1951 by two longtime friends, Ralph Reece and John Singletary, with $60,000 of borrowed capital. Globe Life originally sold inexpensive but dependable life insurance protection to rural Oklahoma communities.
Since its founding, Globe Life has grown in financial strength and reputation, consistently receiving high industry ratings. In 1972, the company formed its Employee Services Division (ESD) to offer supplemental life and health insurance for federal and state employees already covered by Federal Employee Government Life Insurance (FEGLI). Today, Globe Life markets through direct mail, the internet, and call centre sales. The company has executive offices in Oklahoma City and McKinney, Texas, and is a subsidiary of Globe Life.
In 2002, Globe Life was fined a civil penalty of $5,000 for failing to pay interest on death claims in Oregon. As of June 2020, Globe Life has earned an A (Excellent) Financial Strength Rating. The company's life insurance premium has grown from approximately $221 million in 1998 to approximately $813 million in 2018.
In addition to its partnership with the Texas Rangers, Globe Life is also the official insurance company of the Dallas Cowboys, partnering through advertising and corporate events at the Cowboys' stadium and headquarters.
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Globe Life's financial strength
Globe Life, based in McKinney, Texas, provides life and health insurance coverage nationwide. It has executive offices in Oklahoma City and McKinney, Texas, and is a subsidiary of Globe Life. The company was chartered in 1951 by two longtime friends, Ralph Reece and John Singletary, with $60,000 of borrowed capital. Globe Life originally sold inexpensive but dependable life insurance protection to rural Oklahoma communities.
Since its founding, Globe Life has grown in financial strength and reputation, consistently receiving high industry ratings. As of June 2020, Globe Life has earned an A (Excellent) Financial Strength Rating. The company's life insurance premium has grown from approximately $221 million in 1998 to approximately $813 million in 2018. In addition to its strong financial position, Globe Life has an A+ Better Business Bureau rating and has closed over 376 complaints.
In 1972, Globe Life formed its Employee Services Division (ESD) to offer supplemental life and health insurance for federal and state employees already covered by Federal Employee Government Life Insurance (FEGLI). This expansion demonstrates Globe Life's commitment to serving a diverse range of customers and its ability to adapt to the changing needs of the market.
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Globe Life's partnerships
Globe Life, based in McKinney, Texas, provides life and health insurance coverage nationwide. It was founded in 1951 by two longtime friends, Ralph Reece and John Singletary, with $60,000 of borrowed capital. The company originally sold inexpensive but dependable life insurance protection to rural Oklahoma communities.
Since then, Globe Life has grown in financial strength and reputation, consistently receiving high industry ratings. In 1972, Globe Life formed its Employee Services Division (ESD) to offer supplemental life and health insurance for federal and state employees already covered by Federal Employee Government Life Insurance (FEGLI). Today, Globe Life markets through direct mail, internet, and call centre sales.
In addition to its partnership with the Texas Rangers, Globe Life is also the official insurance company of the Dallas Cowboys. The company partners with the Cowboys through advertising and corporate events at the team's stadium, AT&T Stadium in Arlington, Texas, and at the Dallas Cowboys’ headquarters and training facility in Frisco, Texas.
Globe Life has an A+ Better Business Bureau rating on a scale of A+ to F and has over 376 closed complaints. The company's life insurance premium has grown from approximately $221 million in 1998 to approximately $813 million in 2018. In 2002, Globe Life was fined a civil penalty of $5,000 for failing to pay interest on death claims in Oregon.
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Globe Life's health insurance offering
Globe Life and Accident Insurance Company, based in McKinney, Texas, provides life and health insurance coverage nationwide. The company was chartered in 1951 by two longtime friends, Ralph Reece and John Singletary, with $60,000 of borrowed capital. Originally, Globe Life sold inexpensive but dependable life insurance protection to rural Oklahoma communities.
Since then, Globe Life has grown in financial strength and reputation, consistently receiving high industry ratings. In 1972, the company formed its Employee Services Division (ESD) to offer supplemental life and health insurance for federal and state employees already covered by Federal Employee Government Life Insurance (FEGLI). Today, Globe Life markets through direct mail, the internet, and call centre sales. The company has an A+ Better Business Bureau rating and is the official insurance company of the Dallas Cowboys.
In 2002, Globe Life was fined a civil penalty of $5,000 for failing to pay interest on death claims in Oregon. As of June 2020, Globe Life had an A (Excellent) Financial Strength Rating. The company's life insurance premium has grown from approximately $221 million in 1998 to approximately $813 million in 2018.
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Globe Life's life insurance offering
Globe Life, based in McKinney, Texas, provides life and health insurance coverage nationwide. The company was founded in 1951 by two longtime friends, Ralph Reece and John Singletary, with $60,000 of borrowed capital. Originally, Globe Life sold inexpensive but dependable life insurance protection to rural Oklahoma communities. Today, Globe Life markets through direct mail, the internet, and call centre sales. The company has an A+ Better Business Bureau rating and has earned the A (Excellent) Financial Strength Rating as of June 2020.
In 1972, Globe Life formed its Employee Services Division (ESD) to offer supplemental life and health insurance for federal and state employees already covered by Federal Employee Government Life Insurance, or FEGLI. The company's life insurance premium has grown from approximately $221 million in 1998 to approximately $813 million in 2018.
In addition to its partnership with the Texas Rangers, Globe Life is also the official insurance company of the Dallas Cowboys and partners with the organisation through advertising and corporate events at the Cowboys’ stadium, AT&T Stadium in Arlington, Texas, and at the Dallas Cowboys’ headquarters and training facility in Frisco, Texas. In a 2002 lawsuit, Globe Life was fined a civil penalty of $5,000 for failing to pay interest on death claims in Oregon.
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Frequently asked questions
Globe Life and Accident Insurance is a company that provides life and health insurance coverage nationwide. It was founded in 1951 and is based in McKinney, Texas.
Globe Life has an A+ Better Business Bureau rating and an A (Excellent) Financial Strength Rating.
Globe Life was founded in 1951 by two longtime friends, Ralph Reece and John Singletary, with $60,000 of borrowed capital. The company originally sold inexpensive but dependable life insurance protection to rural Oklahoma communities.
Globe Life is the official insurance company of the Texas Rangers and the Dallas Cowboys. It also has a stadium named after it, Globe Life Park in Arlington.