Globe Life Insurance
Founded in 1951, Globe Life offers a mix of term and permanent life insurance. The company highlights its initial low cost, with $1 buying your first month’s coverage — but that cost quickly increases.
Formerly known as Torchmark, Globe Life also sells policies through subsidiaries including American Income Life, Liberty National Life, United American and Family Heritage Life. It’s headquartered in McKinney, Texas, and has life insurance agents across the country.
Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure the content on our site is accurate and fair, so you can make financial decisions with confidence and choose the products that work best for you. Here is a list of our partners and here’s how we make money.
Globe Life insurance pros and cons
| Pros |
Cons |
| Offers life insurance policies without a medical exam. |
Far more than the expected number of complaints for a company of its size. |
| Low rates for the first month. |
Relatively low coverage amounts available. |
| Can buy a policy online, over the phone or via mail. |
Can’t file a claim online. |
Globe Life insurance policies
Globe Life sells a range of life insurance policies online and through its network of captive agents. None of the policies require a medical exam.
Term life insurance. Get $5,000 to $100,000 of term life insurance that usually lasts one to 30 years.
Whole life insurance. If you need lifelong coverage, you can buy a whole life insurance policy worth $5,000 to $50,000. It builds cash value over time, and once you’ve accumulated enough, you can begin taking out loans against your policy.
Child whole life insurance. Globe Life allows you to purchase $5,000 to $30,000 in whole life insurance for your child.
Final expense insurance. Designed to cover end-of-life costs, this burial insurance policy requires you to fill out a health questionnaire.
Globe Life’s pricing can include a reduced rate in the first month. The rate after that is based on the insured person’s age when the policy takes effect. Whole life policies cost the same amount every month for the life of the policy, while term policies increase in cost every five years. For example, a man living in Virginia will pay 25% more for a $50,000 policy from ages 36-40 than for the same coverage from 31-35 years old.
