Globe Life is an established insurance provider in the US, founded in 1951. To date, it maintains high scores from the most reputable insurance ratings companies in the world.
When choosing an insurance provider, whether you’re a broker, agent, or consumer, it makes sense to practice due diligence and check out reviews like this. Although a company’s insurance rating is a good indicator of its reliability and financial strength, it's not a complete picture.
So, is Globe Life a good insurance provider? How does it stack up on its other key metrics? Insurance Business provides this Globe Life insurance rating review so you can make an informed decision.
Taking a good look at Globe Life's insurance ratings and checking its financial strength are crucial to determining whether it will be a fitting insurance provider for you and your clients. These ratings can be an excellent indicator of whether it has a strong operating performance. This, in turn, is favorable for anyone who needs a reliable insurance provider that can process and honor claims.
As of this writing, Globe Life rates positively when it comes to financial strength and reputation. Globe Life’s insurance ratings have consistently maintained an A or Excellent rating from A.M. Best. The company has managed to keep this rating for over 45 years. In its most recent rating, A.M. Best affirmed its “A” rating for Globe Life and its subsidiaries.
Our research has shown that Globe Life has strong balance sheets and operational performance, and sound risk management practices.
Other insurance ratings agencies have released favorable ratings for Globe Life as well. Fitch gives it an A+ or Strong rating, while Standard & Poor’s rates it an AA- or similarly Strong rating. These additional ratings further reinforce the robustness of Globe Life as an insurance provider.
To gain a deeper understanding of these ratings, the agencies that issue them, and their methodologies, check out our guide on insurance rating agencies.
|
Ratings agency |
Rating |
Notes |
|---|---|---|
|
A.M. Best |
A or Excellent |
Affirmed strong financial rating with strong outlook |
|
Fitch |
BBB or Stable |
Stable outlook; assigned BBB+ rating to unsecured notes |
|
Moody’s |
Not rated |
Moody’s does not rate Globe Life |
|
S&P |
AA- or Stable |
Strong financial rating with strong outlook |
|
J.D. Power |
798 out of 1000 |
Customer service rankings have declined in recent years |
Availability of Globe Life insurance products
Globe Life’s products are available in every state, including the District of Columbia. Consumers, insurance brokers, and agents alike can access these products via their agency divisions. Each of these divisions has dedicated locator tools online. These divisions include:
Each of Globe Life’s divisions has licensed agents across the country, and are searchable by state, ZIP code, or by name on their respective websites. However, some specific products or coverage amounts can vary by state due to different regulations. For instance, insurance policies issued in New York are underwritten by Globe Life Insurance Company of New York, a separate subsidiary.
|
Availability characteristic |
Details |
|---|---|
|
Geographic availability |
Available in all 50 states plus D.C. |
|
How to purchase |
Via licensed Globe Life agents nationwide |
|
Product variations |
Some products or limits vary by state |
|
Direct purchase option |
Some policies can be applied for online or via phone without an agent visiting |
These are the insurance products that Globe Life offers as of 2025. The USP of Globe Life’s products is that they can be purchased online and through its network of agents. But the biggest benefit of Globe Life’s insurance products is that none of them require a medical examination to qualify.
This company’s life insurance products include:
This insurance product provides coverage for a fixed period or term. Globe Life’s term life coverage typically expires when the insured reaches the age of 80 or 90, depending on state regulations.
Coverage amounts can be as high as $100,000 but have a limit of $50,000 in New York. Premiums for this type of insurance increase every five years as the policyholder enters a new age bracket. There is no cash value accumulation feature for this product.
On the other side of the coin, Globe Life offers whole life insurance. This provides policyholders with lifetime coverage for as long as the premiums are paid. As opposed to term life insurance, this policy builds its cash value over time. Find out how your clients can use life insurance to build wealth in this guide.
Coverage amounts are generally set at $50,000 and are available for both adults and children. The premiums paid for coverage are fixed and do not increase with age.
This insurance product is designed to provide a whole life insurance policy for children. It can be purchased online, locking in low premiums and future insurability.
This is a form of whole life insurance intended to cover the insured’s funeral and burial costs. Due to the “finality” of the expense, this offers typically smaller coverage amounts, usually up to $25,000 or $30,000.
This death benefit is unique in that with all other insurance products of Globe Life, this requires no medical exam and offers quick approval.
Globe Life’s range of supplemental health insurance products is designed to help cover the costs that aren’t typically paid for by primary health insurance. These policies provide financial protection for unexpected medical events and may be purchased individually or as add-ons to other existing insurance plans.
Key supplemental health insurance products of Globe Life include:
This policy provides a lump sum payment of up to $50,000 upon diagnosis of covered cancer or malignant melanoma on the insured. Globe Life is among the life insurance companies that stand out, as this insurer offers a cash benefit that can be used for any purpose. The cash is given directly to the policyholder for their use, and not to their healthcare provider. No medical exam is required. Eligibility is based on a brief health questionnaire.
As with cancer insurance, this insurance product pays a lump sum if the policyholder is diagnosed with a covered critical illness, like a heart attack, stroke, or end-stage renal failure. Critical illness insurance can help offset medical and non-medical expenses, including income loss and special care needs.
Note that only one benefit is paid per policy. Coverage ends after payout or when the policyholder reaches a specified age.
This offers financial support for any injuries arising from accidents. Accident insurance from Globe Life can help with the policyholder’s medical bills, rehabilitation if necessary, and other expenses resulting from the accidental injury.
This pays a daily cash benefit for each day that the policyholder is hospitalized due to injury or illness. Hospital indemnity insurance can cover deductibles, copayments, and other out-of-pocket expenses.
ICU insurance provides benefits specifically for stays in intensive care. ICU insurance helps the policyholder manage the costs associated with their care.
This is available to those who are eligible for Medicare and helps pay for expenses not covered by Medicare Parts A and B, like co-payments, co-insurance, and deductibles. Globe Life offers several standardized Medigap plans, with availability and coverage details varying by state.
The features that are common with all these products and impact Globe Life insurance ratings are:
No medical exam required – most policies only require would-be policyholders to answer a short health questionnaire
Directly paid cash benefits – policyholders receive their benefits directly and can use them as they see fit
Guaranteed renewable – most policies can be renewed for life or up to a specified age
Flexible use of funds – policyholders can use their money for medical or non-medical expenses
An insurance rider is an added protection provision for life insurance policies. Globe Life offers a particularly important rider, its accidental death benefit rider. This provides a bump up in financial protection, in case of the policyholder’s accidental demise.
Globe Life emphasizes the importance of this rider, since according to the National Safety Council, accidents are the third leading cause of fatalities in the US.
Globe Life’s death rider can be added to both whole and term life insurance policies. Given that several underwriters operate under the Globe Life name, riders can vary depending on the policyholder’s location and policy type. It is advisable to contact a Globe Life agent to discuss what specific riders are available from this insurer.
Below is a table comparing the average monthly premium costs for Globe Life’s main insurance products with the most recent national averages. All figures are estimates for a typical adult applicant in good health. Actual premium costs can vary according to age, state, coverage amount, and underwriting factors.
|
Product type |
National average premium |
Globe Life average premium |
|---|---|---|
|
Term life insurance |
$20 to $30 |
$30 to $40 (+$10 to +$10) |
|
Whole life insurance |
$100 to $150 |
$100 to $150 (+$0) |
|
Final expense insurance |
$40 to $50 |
$40 to $50 (+$0) |
|
Supplemental health insurance |
$50 to $60 |
$60 to $70 (+$10 to +$10) |
|
Medicare supplement |
$200 to $250 |
$180 to $220 (-$20 to -$30) |
Key insights on Globe Life insurance premiums and rates
Term life insurance – this insurer offers entry-level rates starting as low as $1.99 per month. But for more substantial coverage (about $20,000 to $50,000), expect to pay $20 to $30 per month, with premiums increasing every five years by age bracket. The national average for similar coverage ranges from $30 to $40 a month
Whole life insurance – premiums are generally aligned with the national average, usually $100 to $150 a month for adults, but can vary depending on age and coverage amount
Final expense insurance – for modest burial coverage, Globe Life and the national average are about the same
Supplemental health insurance – Globe Life’s supplemental plans like cancer, accident, hospital, and ICU are priced slightly below the national average
Medicare supplement (Medigap) - premiums for this policy are usually at the higher end compared to the national average
When looking for the best insurers and insurance products for your clients, it helps to scan several customer reviews in addition to checking Globe Life’s insurance ratings. Their customer reviews and ratings have been mostly positive for the past few years but have seen a decline.
To know whether customer sentiment for this insurer is truly positive or negative is unclear; this insurer has been seeing a mixed bag of good and bad reviews. Our research has discovered that Globe Life seems to have trouble keeping customer service quality consistent.
J.D. Power has had some positive reviews in recent years, scoring a very high 810 out of 1000 in 2020, making it the second highest ranking insurer in customer satisfaction.
However, the latest rankings from 2023 and 2024 paint a different picture. Globe Life has shown a steep decline in customer satisfaction, scoring well below the industry average. This decline may be attributed to the behavior of its former executives.
Historically, Globe Life’s high customer satisfaction ratings were due to its competitive pricing and no-medical exam standard when approving insurance policy applications. But evolving customer expectations and increasing competition present new challenges to its service reputation and performance.
Globe Life and Accident Insurance Company was founded by Ralph Reece and John Singletary with borrowed capital worth $60,000. They established the company in 1951, with the intention of providing affordable life insurance that rural communities in Omaha could rely on.
Over the next few decades, Globe Life expanded its reach and by 1964, it was marketing life insurance in 36 states. The company built a reputation for integrity and fairness, growing steadily in terms of profitability and prominence within the insurance industry.
In 1980, Globe Life was acquired by Liberty National Life Insurance Company. This formed part of the holding company that was then-known as Torchmark Corporation, which was renamed Globe Life Inc. In 2019.
Globe Life is now headquartered in McKinney, Texas. At present, the insurer serves around 4.4 million policyholders in the US, with over $91 billion worth of policies in force.
After checking Globe Life insurance ratings, as well as its financial strength and customer service ratings, recommending this insurer and its products could be advisable. The caveat is that this depends on the type of client.
Globe Life can be beneficial for clients who are looking for fast, affordable, no-exam coverage with modest death benefits. Clients who are also comfortable having a long-term relationship with an insurer that has basic customer experience, and a standard level of service can be satisfied with Globe Life.
Meanwhile, clients who want higher caliber service, better data security, and greater policy customization may be better served by other insurers with stronger customer service expertise and a wider range of products.
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