Globe Life And Accident Insurance Company Review

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$1 buys $100,000 of life insurance.

The attention-grabbing offer has made life insurance carrier Globe Life a familiar brand, despite being a fairly young company.

Before you rush to sign up for a Globe Life Policy, though, you need to read the fine print on the promotion.

You also need to consider the company’s history, financial standing, and products.

In this review, we break down those aspects of Globe Life to help you decide if it’s the right insurance company for you.

Use it as a first step as you research all of the life insurance companies at your disposal.

Quick Links

  1. History
  2. Ratings
  3. Products
  4. Company Summary

Our Globe Life And Accident Insurance Company Review

globe life logoGlobe Life and Accident Insurance Company has been doing business for over 60 years. While impressive, it’s still considerably young.

Some of the biggest and the best life insurance companies in America have been around more than 160 years, to put it into perspective.

But age does not always define quality.

Globe Life was founded in Oklahoma in 1951, spending its early years serving the local community of Oklahoma City before expanding across the United States.

Today, Globe Life does business all over the country and has nearly $70 billion of life insurance on the books.

As it has grown, its marketing efforts have primarily targeted seniors, or those who are over the age of 50.

Globe Life is also committed to serving the community, participating in charitable events and making generous contributions.

Over the years, they’ve supported youth baseball and softball by contributing to non-profit organizations in partnership with the Texas Rangers.

They’ve also paired with the Oklahoma PD to sponsor a golf tournament, sponsored a Special Olympics team, and offered children’s soccer camps, along with contributing to well known charities like United Way and Make A Wish Foundation.

Financial Strength & Ratings

When you evaluate a life insurance company, you should always explore its financial ratings.

Globe Life and Accident Insurance Company maintains good ratings from more than one rating agency.

Most notably, Globe has been awarded by:

Both are stable and secure.

The company also holds a rating of “A+” with the Better Business Bureau, who has accredited Globe, despite a significant number of complaints.

Globe Life is actually owned and operated by the Torchmark Corp. who is traded on the New York Stock Exchange as TMK.

Torchmark is a holding company for other notable insurance companies, including:

Based on Globe Life’s high credit ratings and association with Torchmark, the company is a dependable and secure option for your life insurance provider.


Globe Life offers a number of life insurance products, namely term, whole, and mortgage protection policies, which each have specific requirements and limitations.

Here’s a closer look at the details of each policy.

Term Life

As mentioned above, Globe Life claims you can buy as much as $100,000 in coverage and pay just $1… for the first month.

After the first month, premiums are based on the answers you provide in your application.

Globe Life offers no exam coverage up to $100,000. There are only a few health questions to answer.

But you should note that with Globe Life, your premiums are subject to increase as you move into higher age brackets.

You can select from death benefit amounts of:

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

Whole Life

Globe Life’s whole life insurance product is similar to its term life counterpart.

The policy comes with minimal health questions and an initial premium of $1.

However, with the company’s whole life policies, you are limited to just $50,000 in coverage.

Because it is a whole life product, premiums never increase, but your initial monthly cost will be substantially higher than it would with a term life policy of the same death benefit amount.

You can expect a level premium, a guaranteed minimum death benefit, and a small cash component.

While it might be advertised as accessible, be careful about building loans as the whole life policy will accrue interest.

The final death benefit from Globe Life will also be reduced by any outstanding loans and interest.

Children’s Coverage

If you want life insurance for your children or grandchildren, Globe does have an option with their Young American Plan®.

With a whole life policy of up to a $25,000 death benefit, the child could also have access to the cash later in life.

Just note that using those funds could deplete some or all of the death benefit over time.

Accidental Insurance

If neither $50,000 nor $100,000 is enough in coverage, the next step for Globe is their accidental coverage, which goes as high as $250,000.

As with most accidental policies, it is guaranteed to be issued, so there are no physicals or health questions to answer.

The policy will only pay a death benefit claim for those who pass in an accident.

Globe Life’s accident policies come with a reduction of value, so when a person reaches 70 years of age, Globe Life’s Accident policy benefit is reduced by 50%.

While each situation is unique, the best coverage is a true life insurance policy for most individuals.

Other Products from Globe

Globe also offers the following products:

  • Mortgage Protection Insurance
  • Medicare Supplements
  • Auto Insurance

If you’re looking to house multiple lines of insurance with the same company, Globe Life could be a convenient option.

What We Like About Globe Life

Despite its flaws, Globe Life does have some advantageous features.

  • Financial stability: Globe Life has strong financial ratings from two major credit rating companies, making it a secure insurer.
  • Straightforward policy options: Globe Life clearly presents information on each of its life insurance options, laying out policy limits for applicants.
  • No exam: You can apply for a Globe Life policy from your couch, without the need for a medical exam, needles, or urine samples.

What We Don’t Like About Globe Life

  • High rates: Globe Life is expensive, contrary to what its $1 introductory premiums might suggest.
  • Small policies: Globe Life’s maximum coverage is severely limited, especially for the cost of premiums.
  • Pricing: Rather than 10, 20, and 30-year terms, Globe Life’s term policies are divided into age brackets, meaning more frequent premium increases.
  • Policy options: Globe Life’s policy options are limited, so if you’re looking for, say, a universal policy, you’ll have to go elsewhere.

Final Thoughts

Although many customers find Globe Life insurance valuable, their products are outdone by many of their competitors.

Because of their target market, direct advertising through the mail, and simplified style of underwriting, Globe Life attracts many elderly or high-risk individuals.

The result is an increase in premiums. With the considerably small amount of coverage they offer, these policies might not be worth your while.

By all means, you should research the company and take a few minutes to get quotes.

Just be sure to explore alternatives, starting with the companies mentioned above, to ensure you’re getting the best policy and premiums.

Globe Life And Accident Insurance Company Review

(800) 654-5433
204 North Robinson Avenue
Oklahoma City, OK 73184

Company Name (and subsidiaries)

  • American Income Life Insurance Company
  • Liberty National Life Insurance Company
  • United American Insurance Company
  • Family Heritage Life Insurance Company of America



Jason Fisher

Jason Fisher is the founder and CEO of, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.