Globe life insurance is a well-known company with high brand awareness. This is due to the widespread marketing campaigns targeting prospective buyers interested in acquiring life insurance.

Seniors and families are often flooded with direct mail promotions and emails bosting “$1 buys $100,000” and other marketing campaigns to pique interest. Reviewing Globe Life Insurance and checking if it is a reputable and legitimate company is a great place to start.

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Is Globe Life A Legitimate Life Insurance Company?

Globe Life is a legitimate life insurance company that has been in business for over 70 years with premier financial ratings. However, Globe Life has had excessive customer complaints in recent years. Policyholder services and claim handling were the most consistent grievances, specifically delays in response and even not responding to customers.

Globe Life Insurance has a High Amount of Customer Complaints

In the year 2021 alone, there were over 60 customer complaints company-wide. More specifically, their individual life insurance products had 46 total complaints in 2021 and were given a 5.13 score by the NAIC (National Association of Insurance Commissioners), while the national average is 1.0. Meaning Globe’s individual life insurance products received over five times more complaints than what was expected by the market.

This breaks down to Globe Life earning 0.4% of life insurance premiums nationally while being responsible for 2.1% of the complaints. When you add this all up, Globe Life’s individual life insurance products have a serious issue with customer satisfaction compared to the industry average.

To find the National Complaint Index Report, follow this link and click on the “Individual Life” tab to review Globe Life’s Complaint Index Report for their life insurance products.

Globe Life Insurance Reviews

Globe Life offers two adult life insurance products that can be considered burial insurance for seniors. The two plans are marketed as Term Life Insurance and Whole Life Insurance. These policy options are very different as one is temporary coverage and the other is permanent.

Term Life Insurance from Globe Life

Term Life Insurance from Globe Life is their marquee product that gets the most attention and advertising. This plan requires the applicant to favorably answer medical questions to be approved.

Coverage will start at a low monthly premium, but as the policyholder ages, the price will increase. Over time the premium will keep going up as you enter another age group. 5-year increments separate the age groups. Once you get into your 80s, the premium becomes unaffordable for most seniors. Ultimately the policy will terminate when the senior reaches 90 years old.

For any senior looking to use this product as funeral insurance, it would be in your best interest to find a life insurance plan that offers permanent coverage and does not increase premiums or expire as you age.

Quick Plan Facts

  • Age Eligibility: 18 – 79
  • Coverage Amount: $5,000 – $100,000 (depending on age)
  • State Availability: All 50
  • Medical Exam: No
  • Health Questions: Yes
  • Waiting Period: No
  • Permanent Coverage: Expires at 90
  • Builds a Cash Value: No

Policy Terminates

This policy will expire at the age of 90, which is problematic for seniors looking to cover final expenses. Using life insurance that terminates is a risky idea and can lead to a financial dilemma when you reach your 80s.

$1 buys $100,000

Globe Life has established the marketing phrase “$1 buys $100,000”. However, this is not real and is misleading.

This term life insurance plan is $1 for the first month and then jumps 1000% – 5000% to its regular price in month two and beyond. Globe Life brings clients in with the allure of a bargain rate, but the price drastically increases in the 2nd policy month.

Does Globe Life Insurance Increase with Age?

Globe Life has age groups that increase the monthly premium every five years. For example, a 65-year-old male will pay $31 a month for $10,000 of life insurance, but when he turns 66, his price will jump to $42 a month. This is because he aged into a new “group,” separated into five-year increments.

An affordable policy, to begin with, will drastically increase in price depending on when you age into a new “group.” The Term Life Insurance plan from Globe Life has left some customers frustrated and feeling duped.

Based on Globe Life Insurance reviews, the rate increases significantly for seniors 81 – 85 & 86 – 89. Since you cannot receive initial coverage over the age of 79, the Globe Life Insurance website will not show you these premium hikes.

Age Group Ranges

  • 46 – 50
  • 51 – 55
  • 56 – 60
  • 61 – 65
  • 66 – 70
  • 71 – 75
  • 76 – 80
  • 81 – 85
  • 86 – 89
  • 90 policy terminates
Globe Life Insurance price chart

Globe Life Burial Insurance Term Quotes by Age Group

Globe Life burial insurance rates increase every five years, and you can only get new coverage up to $30,000 if you are over 70. The company will not provide initial coverage for seniors over 80.


Initial Monthly Premiums

Age Group $10,000 $20,000 $30,000
46 - 50
51 - 55
56 - 60
61 - 65
66 -70
71 - 75
76 - 79
80 - 89

Initial Monthly Premiums

Age Group $10,000 $20,000 $30,000
46 - 50
51 - 55
56 - 60
61 - 65
66 -70
71 - 75
76 - 79
80 - 89

Quailfying for The Term Insurance Plan

Globe Life requires the applicant to medically qualify for this plan. Five questions need to be answered to qualify for coverage. Along with the five questions, Globe Life will do an MIB (MIB Group) and prescription history check. These underwriting tools will determine if Globe Life Insurance will approve your application.

Globe Life Insurance Medical Questions

A “yes” response does not automatically make you ineligible for coverage.

1. Is the Proposed Insured currently disabled due to illness, confined to a hospital or nursing facility, or does the Proposed Insured require the use of a wheelchair?

2. In the past 3 years, has the Proposed Insured been diagnosed or treated by a member of the medical profession for:

a.) Chronic kidney disease or kidney failure, muscular disease, mental or nervous disorder, chronic obstructive lung disease, drug or alcohol abuse, or hospitalized for diabetes?

b.) Cancer, coronary artery disease, or any disease or disorder of the heart, brain or liver?

c.) Acquired Immune Deficiency Syndrome (AIDS), AIDS Related Complex (ARC) or test results indicating exposure to the Acquired Immune Deficiency Syndrome virus?

3. Does the Proposed Insured have any chronic illness or condition which requires periodic medical care or may require future surgery?

4. In the past 5 years, has the Proposed Insured had his or her driver’s license suspended or revoked; been convicted of any felony; or is the Proposed Insured currently incarcerated?

5. Does the Proposed Insured intend to replace or change any existing life insurance policies or annuities in connection with this application?

Whole Life Insurance From Globe Life

Globe Life offers a second adult life insurance option in addition to their term insurance plan. This standard whole life insurance coverage is nothing special, and other final expense insurance plans routinely outperform this product.

The age eligibility is 18 – 79, and coverage amounts are offered from $5,000 – $50,000. This plan requires the applicant to answer medical questions and offers permanent life insurance with no waiting period.

Premiums are Locked-In for Life: Whole life policies lock in the monthly price you pay, so you will never have to worry about rate increases. This standard feature should be a non-negotiable when making a burial insurance purchase.

Coverage Never Changes: Another standard feature with whole life insurance is that the coverage will never decrease or expire.

Builds a Cash Value: A cash value is implemented with all whole life insurance policies. Over time the cash value builds and provides an option for you to borrow against its value if necessary.

man looking at papers

FAQs – Globe Life Insurance Reviews

Is Globe Life a Good Insurance Company?

In 2021 Globe Life Inc. posted just over 4 billion dollars in premiums and just under $745 million in profits. This company, founded in 1951, is financially secure, reliable, and reputable. However, their marketing practices can be deceiving while also having a high number of customer complaints compared to the industry average.

What Kind of Insurance Company is Globe Life?

Globe Life is an accident, supplemental health, and life insurance company. They are best known for their term life insurance plan with the marketing slogan “$1 buys $100,000”. Along with term coverage, Globe Life offers whole life, children’s life, and supplemental health insurance, including cancer, critical illness, ICU, hospital, and accident insurance.

Is Globe Life Whole or Term Insurance?

While the Term Insurance plan from Globe Life is the most well-known product, the company also offers a whole life insurance plan. The whole life plan will never rise in price, and coverage does not expire. In contrast, the term price will increase every five years when the policyholder ages into a new price group.

Is Globe Life Insurance Good for Seniors?

The company’s term insurance plan starts at a reasonable rate and then increases in price every five years. Once the policyholder turns 90, the coverage will cancel altogether. Seniors looking for burial insurance should avoid Globe Life’s Term Insurance as the premiums are too high and coverage will expire.

Is it True that $1 Buys $100,000 of Coverage?

Globe Life Insurance offers $100,000 of coverage for $1, but this promotion only lasts one month. After that, the price will jump, making the premiums more expensive. This marketing strategy and slogan entice applicants to purchase coverage, but the price will increase considerably after the first month.

Cheaper and Better Coverage Options

There are two main ways to purchase insurance. The first is through the company, for example, the Globe Life Insurance website. The second is through an insurance agency.

Direct from Company: When purchasing directly through the carrier, you play by their rules and see just one price. You do not get a second opinion. This can lead to paying more for coverage or purchasing a product you do not need.

Insurance Agency: When working with a respected insurance agency, you will have more options and lower prices. An insurance agency can represent whichever plans they wish and find you the best coverage at the lowest price.

Final Thoughts: Globe Life Burial Insurance Reviews

a. Globe Life is a legitimate life insurance company that provides coverage to over 4.3 million policyholders. In 2020, the carrier paid out just under a billion dollars in life insurance claims.

b. The company has had a significant and consistent issue with customer satisfaction over the years. The NAIC reported 46 life insurance complaints against Globe Life in 2021, a significant number compared to its competition.

c. The most marketed product offered by Globe Life is the Term Insurance plan. This product starts at a low monthly rate, but the premiums will increase every five years, eventually canceling altogether when the senior turns 90. This plan should be avoided by those looking for final expense insurance.