Should I buy a term insurance policy from Globe Life?

Should I buy a term insurance policy from Globe Life?

Should I buy a term insurance policy from Globe Life?

$1 dollar for the first month and seemingly low monthly fees thereafter. It sure sounds good at first glance. So should you buy this term insurance policy from Globe?

No, you should not purchase term insurance from Globe Life.

This is why…

  1. Expires at 90 years. Most people want a permanent policy to cover expenses at the end of life. If that’s what you want, this Globe Life insurance policy will only last up to 90. What if you live beyond that? More and more people are these days. He simply would not have protection and his family would have to foot the bill for his funeral expenses.
  2. Rates increase every five years. Initially, the rates are affordable when you are younger. What seems to happen to most seniors (usually after age 70) is that the payments become too high for their budget, forcing them to drop coverage. Most seniors are on a fixed income. If that sounds like you, it is very important that you buy a policy from a company where the payment cannot increase over time. That way, you can ensure that you always stay within your budget. What good is a low payment now if it becomes too expensive later?
  3. There are better term options elsewhere . If you really want a term life insurance policy for some reason, you can get it cheaper elsewhere. Plus, dozens of life insurance companies offer cheaper term coverage with fixed premiums for the life of the term.

No matter how you slice it, Globe Life Insurance’s term policy isn’t best for anyone. It’s just good business for them.

Globe Life Life Insurance for children

Policy Type : Whole Life Insurance
Age when life insurance policy expires : never
Fixed Monthly Rates : yes
New Applicant Age Range: 0-24 Applicant
Age Range : $5K-$30K (varies by State)
Builds Cash Value : Yes
Medical Exam Required : No
Acceptance Guaranteed : No
Health Questions to Qualify : Yes

Globe Life’s children’s insurance coverage is really very good. If you are looking for a whole life insurance policy for one of your children or grandchildren, it is a good option to consider.

In our opinion, Globe does not have the best life insurance for children, but it is one of the best on the market.

Because it is a whole life insurance policy, it will never change. Payments are fixed for life and the life insurance policy will not expire at any age.

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