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In this article, we will give you a complete Globe Life Insurance review, taking into consideration the positives and the negatives, as well as the alternatives to Globe Life Insurance. This review is in no way a paid for by Globe Life Insurance and is completely unbiased, based on our knowledge and experience with this company. Please consider doing your own farther research and reading all terms and conditions before signing any official documents.
Global Life Insurance Review – Pros and Cons
Positives
Our fair review of Global Life will begin considering the company’s strong financial presence and brand image. Globe has been around since 1951, which is actually not terribly, long in regards to financial companies. Globe Life Insurance has the A.M. Best rating of A+. A.M. Best is the premier insurance ratings agency and Globe Life has the highest mark given for financial strength. So the age of Globe, though young relative to other financial companies, should be considered an advantage because they are rated highly by independent ratings systems.
With Globe Life Insurance, you will be locked into the face amount. Being locked into the original face amount means that you will not have to worry about your $25,000 life insurance policy only paying $10.000 out to you upon filing of death claim and payment issuance. Your face amount is fixed for your issued policy. This is good news for someone that intends on using their life insurance policy to pay for burial expenses and other forms of debt.
Another pro that should be covered in the Globe Life Insurance Review is the pricing. The rates that they offer are competitive in the market. The rates depend on your individual situation and quote.
Globe Life offers no exam policies; instead they offer a few health questions that you must fill out honestly. That lowers your barrier to entry. However, you may find that with an exam you will be able to get a better rate. But you will find that there are policies that do not require an exam, which are not as expensive as the Globe no medical examination policy. So the positive here is that Globe Life insurance does not need you to have a medical exam, but the negative is that you are able to get better non exam policies if you are pretty healthy and instead undergo an exam in order to receive your policy rate.
Many clients that are looking for Globe Life Insurance Reviews are also trying to find good Medicare supplements. The best way to find those good supps is to compare Medicare supplement plans.
Globe Life Insurance has great brand name trust because it is a reliable life insurance company. The Globe Company has done a good job in the marketing and protecting of their brand name. This has resulted in many millions choosing Globe Life as their insurance company.
Negatives
Even though Globe Life has some great positives, it is not a competitor of Direct Life Insurance Quotes. Direct Life Insurance is a representative agency, whereas Globe Life is an actual life insurance company. Direct Life represents various insurance companies, where Globe Life is just one of these companies. Using a rate aggregator may show you that a reputable company has competitors that are cheaper.
There are many that will go online in order to search for Globe Life Insurance Reviews so that they are able to see if they are a good company or if they are just an insurance scam. Scamming insurance is common, but we assure you that Globe Life Direct will never scam you if working with them directly or through us.
As it has been said, Globe Life Insurance does have some positives and they are indeed a legitimate company. Even so, Globe Life does have some negatives that you will need to take into account when you are buying life insurance through Globe Life or one of its affiliates.
Another negative for the Globe Life Insurance review is that their primary legacy product only insures up until the age of 80. This means that if you have paid for a policy for 30 years, but you live past the age of 80 then you will have wasted your money. You will then not have any life insurance and then you will be too old to get any life insurance from this current company.
With Globe’s most popular product, which is the Step Rate 80, your premium will go up every 5 years until you are 80 years old. The life insurance policy rates from Globe Life will go up at the ages 46, 51, 56, 61, 66, 71, 76 and then will end at the 80th year. This means that the older you get, the more life insurance will cost you.
A con is that once you have then retired on a fixed income, your Globe Life Insurance rates will still continue to rise, which may cause stress to you and your budget. What generally happens is that someone who has Globe Life Insurance policy finds that the premiums will go up every 5 years, then making the policy unaffordable. If the client can’t afford it, they may have to cancel the policy before it has even expired.
However, it seems that recently Globe Life has made some changes to their product offerings. The term life insurance that is offered is now a modified premium term to age 90 product. The start of the term will depend on your age when you start the policy, which ranges from 1,2,3,4 or 5 years. This product will then renew every 5 years just like the step rate 80, with rates continuing to increase.
This 90 years modified term premium product will last until the age of 90, instead of 80, and will still have its premium increased every five years. That is one of the main aspects to take into account. It’s possible that anyone who is locked into this product and is hoping to leave behind money for burial expenses may find that they are just not able to afford the policy because of the premiums. It’s quite possible that the policy will then lapse and there will not be any life insurance payouts left , even though the insured paid for it for the past 20 or 30 years.
There are still better options out there though and Directlifeinsurancequote.com is ready and able to help you find those alternatives.
Updates Overview since May 2015
Globe Life Insurance offers various term products. They offer ranges for ages 70, 80, 90 and also term 100. Any of these term policies will end at the conclusion of the year that it extends to, in the event of no renewal.
There are alternatives to Globe Life which offer better prices and even ones that will last for the remainder of your life. These will also have a fixed premium instead of a premium that will go up every 5 years and won’t completely empty your pocketbook if you didn’t do the inflation math beforehand. Guaranteed issue life insurance rates also vary, and they may be as competitive here as with other alternatives
Globe Life Insurance Alternatives
If you are looking for Globe Life Insurance Reviews then it is most likely because you are shopping for the best price on life insurance. It is best if you call an independent life insurance agency like Direct Life Insurance Quotes .com.
With DLIQ you will be able to shop with over 60 life insurance carriers. If you only get in touch with just one company like Globe Life then you are limiting your options to just one company.
With our life insurance calculator you will be given access to numerous products from term life insurance to universal life insurance to whole life insurance. Every product has its own complications and you can get a better understanding here on our website as we can let you know about each company and the products that they offer.
You are able to save on insurance as you will be able to get the right company that will cater to your health and lifestyle.
For instance if you need to know the specific life insurance companies to choose from because you have diabetes, then you obviously so not want to choose just any company. Check here to find that right company and this is how they differ from the competition. Direct Life Insurance Quotes focuses on the niches that are available from the top life insurance companies.
If you are considering Globe Life then why not try looking around at others, as they may offer you something better. You might be able to save thousands of dollars when you do a little shopping and also find a policy that will not only match your needs more precisely, but will also lock you into a policy that will last for the rest of your life.
About DirectLifeInsuranceQuotes
Direct Life Insurance Quotes are a group comprised of independent agents that are focused on finding the clients like you the best company that offer the best product and at the best price. When people are shopping for life insurance they are often drawn into the advertising and marketing which offers massive savings. However, the policy that they get may end up not being like it originally seemed it would be.
We here at Direct Life Insurance Quotes have a different approach, as we’ll provide you with options and will also make recommendations that will meet your needs.
If you are in need of a life insurance quote then you should simply contact us for any advice that you need as well as answers any questions that you may have.
The best thing about getting quotes for life insurance like this is that you are given the freedom to compare quotes, look at the policies and have helpful people to advise you on each so that you have a better understanding.
As you can see from this Globe Life Insurance Review they do have some good aspects to them, but they are not the only ones in the market so it is worth looking around. Keep an open mind and always read through the any life insurance policy terms document in its entirety. You don’t want to set your family up left footing the bill after your death.
