2021 Globe Life Burial Insurance Review (There’s A Catch…)

The 60-Second Summary

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3.0/5
GetSure Rating
Globe Life is a well-known name and offers a smooth online purchase process, but its burial insurance offering is severely lacking, with high rates and coverage ending at age 90

Globe Life Pros

Globe Life Cons

Globe Life Burial Insurance Reviews (3rd-Party)

Full Review Below.

Who Is Globe Life Insurance Company?

Founded in 1900, Globe Life Insurance Company is a Fortune 500 company based in Plano, Texas.  Globe Life provides life insurance to 4.3 million policyholders and has over $86 billion in in-force coverage.

Globe Life is one of the largest providers of burial life insurance (also known as “funeral insurance” or “final expense insurance”) in the United States, competing with other life insurance companies, such as Mutual of Omaha, Gerber Life, and Foresters Financial.

Globe Life holds an A (Excellent) financial strength rating from A.M. Best and an A+ rating from the Better Business Bureau.

Company 101
TypeLife Insurance Carrier
Websitehttps://www.globelifeinsurance.com/burial
Emailhttps://www.globelifeapplication.com/contact
Phone(800) 742-6787
Address3700 S. Stonebridge Drive
McKinney, TX 75070
BBB RatingA+
A.M. Best RatingA

Globe Life Insurance Policy Offerings

Globe Life offers two types of life insurance policies that can be classified as burial insurance (because of their smaller death benefits, which are sized to cover final expenses, such as funeral costs and burial expenses):

  • Renewable Term Life Insurance
  • Guaranteed Issue Life Insurance

For both of these policies, when you apply, you’ll also have the option of adding accidental death insurance and/or children’s whole life insurance to your policy.

Renewable Term Life Insurance

Globe’s main burial insurance offering is significantly different from those of other final expense insurance companies.

This is because the policy is NOT a whole life insurance policy.  It is a “term-to-age-90” product, meaning coverage ends at age 90, no matter what.

Technically, the policy is a renewable term life insurance policy.  Except for your very first term period, your term length will be five years, after which you’ll have the option to renew.

All renewal periods begin at your “5-year plus one” age (e.g., 51, 56… 76, 81, 86).  Therefore, your initial term period will be either 1, 2, 3, 4, or 5 years in duration, depending on how far you are from one of these “5-year plus one” ages.

This is a lot simpler than it may sound.  For example, if you purchase a policy at age 53, your initial term period will last until you are 56.  After that, your policy will be up for renewal at 61, 66, 71, etc.

The only exception is the final, four-year period that begins at age 86.  This period ends at the policy anniversary following the insured’s 90th birthday, at which time the policy expires and coverage terminates.

globe life logo

Term Life Insurance

Coverage Limits Vary By Age

Coverage comes in discrete amounts:

  • $5,000
  • $10,000
  • $20,000
  • $30,000
  • $50,000
  • $75,000
  • $100,000

Coverage maximums vary by age:

  • Those under 60: $100,000
  • Those over 60:  $50,000
  • Those over 70: $30,000

Medical Exam

Globe Life does not require a medical exam or ask health questions.  It is, in effect, a guaranteed acceptance policy (in other words, you cannot be denied coverage).

Your medical history does not matter at all.  It does not matter if your health history includes a mental or nervous disorder, heart disease, drug or alcohol abuse, even if you’re currently in a hospital or nursing facility!

Riders

Globe Life does not offer policy riders.  However, you are able to add whole life insurance for children (or grandchildren) during the application process.

Guaranteed Issue Life Insurance

Globe’s less advertised burial insurance offering is its guaranteed acceptance life insurance coverage option.

globe life logo

Guaranteed Issue Whole Life

You are guaranteed to be approved if you are between 65-80 years old.  If you are not satisfied for any reason, you can return your policy within 30 days (no questions asked) and receive a full refund for premiums paid.

Not only are there no medical exams with Globe Life’s guaranteed acceptance life insurance policy, but you also will not have to answer health questions either.

Unfortunately, you cannot apply for this policy online (or get a quote), but you can call (800) 541-4600, and a Globe Life representative will walk you through the application process.

Globe Burial Insurance Monthly Premiums

Recall that the Globe Life’s online funeral insurance offering is a term life insurance policy.  Any adult 80 years old or younger is eligible for this policy and coverage limits range from $5,000 to $100,000 in the increments shown below.

Globe Life Burial Insurance Monthly Rates for Males
Globe Life burial insurance monthly premiums for men. Coverage ends at age 90.

Below you’ll find the corresponding monthly rates for women. 

Globe Life Burial Insurance Monthly Rates for Females
Globe Life burial insurance monthly premiums for women. Coverage ends at age 90.

Below you’ll find the rate sheet for Globe’s juvenile whole life insurance product.

Globe Life monthly premium rates for children
Globe Life's monthly rates for children's life insurance

Globe Life Insurance Application

How you apply depends on which Globe Life Insurance policy you opt for.

If you’re interested in the term-to-age-90 life insurance product described above, then you’ll have the option of applying online.

For their guaranteed issue life insurance policy, you will have to call and speak to an agent to apply.  If you have significant medical conditions, this may be your only way to get final expense insurance through Globe.

Note that you will have the option to add accidental death insurance or whole life for children either way.

How To Apply For A Globe Life Burial Insurance Policy

Compared to most life insurance carriers, Globe has a smooth, easy application process, which should take you no longer than 10 minutes to complete.

Application Steps:

Step 1: Navigate to ...
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Globe Burial insurance landing page
Step 1: Navigate to ...
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Globe Life insurance application -Demographic information section

Globe Life Insurance Reviews & Ratings

Now you know our view on Globe, but what do customers and third parties think?

Financial Strength Ratings

Financial strength ratings measure an insurance company’s ability to pay out its claims.

Independent ratings agencies, such as A.M. Best, S&P, and Fitch, assign insurance companies financial strength ratings based on detailed audits of their financial health.

Globe gets stellar marks from all three major insurance ratings agencies:

  • A.M. Best: A (Excellent)
  • S&P: AA-
  • Fitch: A+

A.M. Best is the most prestigious of the three, and Globe Life has earned an A (Excellent) rating from them for the past 45 years.

In their words, this rating reflects Globe’s “very strong operating performance, favorable business profile, and appropriate enterprise risk management.”

Better Business Bureau

Globe Life has been BBB-accredited since 1952 and holds its highest possible rating (A+).

This rating represents the BBB’s opinion of how Globe Life is likely to interact with its customers and Globe’s effort into resolving any consumer complaints.

Globe Life Insurance FAQs

Before we close out this review, let’s review some of the most commonly-Googled questions about Globe Life.

Globe Life is a legitimate company that has been in business for over 70 years. It has premier financial ratings from several independent rating companies, including AM Best and the Better Business Bureau (BBB). Globe Life is a well-managed company that will have no issues paying the beneficiary upon filing a claim.
According to Globe, it takes 10 to 15 business days for your check to arrive following the date that your claim gets processed. If you haven’t received your check within 30 days of having your claim processed, you should reach out and contact Globe directly.
Globe Life Insurance offers term life, whole life and juvenile life insurance.
Globe Life offers life insurance products and supplemental health insurance products through the following subsidiaries: (1) Globe Life And Accident Insurance Company, (2) American Income Life Insurance Company, (3) Liberty National Life Insurance Company, and (4) Family Heritage Life Insurance Company of America.

Wrapping Up

We hope this review helped you decide on whether or not to apply for a Globe Life burial insurance policy!

If you have any additional questions, please don’t hesitate to send us an email or leave a comment, and we will get back to you within 24 hours.

Warm Regards,
The GetSure Team

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