Globe Life Company Term Life Insurance for Adults

Globe Life Company Term Life Insurance for Adults
Globe Life Company Term Life Insurance for Adults

Globe Life Company Term Life Insurance for Adults

Globe Life Company Term Life Insurance for Adults

  • Policy Type: Term Life Insurance
  • Age when the life insurance policy expires at 90 (they cancel their policy at age 90)
  • Fixed monthly rates: no, they increase every 5 years
  • Applicant Age Range: 18-79
  • Coverage Amount Range : $5,000-$100,000 (varies by age)
  • Build Cash Value: No
  • The medical exam required: No
  • Guaranteed acceptance: no
  • Health questions to qualify: Yes

Globe’s flagship product is a term life insurance policy that will expire in full once you turn 90.

As if that wasn’t bad enough, rates will increase every five years.

Below is an exact description of their life insurance policy taken directly from their website:

Globe life insurance policy Description :

This is a term modified premium product for up to 90 years. The initial term period can be 1, 2, 3, 4, or 5 years in length, depending on the age of the issue. All renewal terms start at 5 years plus an age (ie 21, 26, 31, 36…86) and will last for 5 years, except for the final term period. The last 4-year period, which will always begin at age 86, will expire and the policy will end on the policy anniversary after the insured’s 90th birthday.

In simple terms, this life insurance policy will end when you turn 90 years old. You will not receive any reimbursement and you will not be able to purchase another policy from them.

You simply no longer have life insurance protection.

Just know that almost anytime you see Globe Life marketing (online or through the mail), they will almost certainly be trying to sell you this term life insurance policy.

Quotes for your term life insurance coverage

Globe heavily promotes the idea that you can get up to $100,000 in life insurance for just $1.

Although this is technically true, there is more to the story. $1 only applies to the first month. After the first month, the actual monthly rate will take effect.

In addition to the $1 gimmick for the first month, the rates on this term life insurance policy increase every five years.

The monthly price will increase each time you become one of the following ages: 21, 26, 31, 36, 41, 46, 51, 56, 61, 66, 71, 76, 81, 86.

You can see their rates below. We use their online calculator directly from their website to get these prices.

** Remember that your rate will increase to the new price as you enter a new age range **

Rates will increase again at ages 81 and age 86. These will be BIG rate increases (their website won’t show you what the price will go up to).

Once you turn 90, you will no longer be covered.

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