What Globe Life Offers and Who It Serves
Globe Life (formerly Investors Heritage Capital Corp.) sells term and whole life insurance directly to consumers, mostly through independent agents and online. The company has been in business since 1951 and is part of a larger holding company. Whether it is a good choice depends on what you need from a policy, how much you are willing to pay, and whether their underwriting process works for your health situation.
Globe Life specializes in policies that are easier to obtain than some competitors require — they offer coverage with simplified underwriting, meaning fewer medical questions and no medical exam for many applicants. This appeals to people with health conditions that make standard underwriting difficult. The trade-off is that premiums are typically higher than you would pay with a traditional insurer if you have excellent health.
The company sells policies ranging from $10,000 to $500,000 in coverage, with both term (10, 20, or 30 years) and permanent whole life options. They also offer accidental death and dismemberment riders and burial insurance products.
Key Takeaways
- Globe Life uses simplified underwriting, which means faster approval and fewer medical questions, but premiums run higher than traditional insurers charge for the same coverage.
- The company is licensed and regulated in all 50 states, and holds an A.M. Best financial strength rating of B+ (adequate), which is lower than many larger competitors.
- Customer complaints to state insurance departments and the Better Business Bureau are higher than the industry average, with common issues around billing, cancellations, and claim handling.
- Globe Life policies are not portable if you change jobs, and the company does not offer group life insurance through employers.
- Comparing quotes from at least three other insurers — including both simplified-issue and standard-underwriting companies — will show you whether Globe Life's price and terms match your actual situation.
Financial Strength and Company Stability
Globe Life holds a B+ financial strength rating from A.M. Best, which means the company is considered adequate to meet its obligations. This is not a failing grade, but it is lower than the A or A+ ratings held by larger competitors like State Farm, Prudential, or New York Life. A B+ rating means the company is unlikely to fail, but there is more risk than with a higher-rated insurer.
The company is licensed to sell insurance in all 50 states and is subject to state insurance department oversight. If Globe Life were to become insolvent, your state's insurance guaranty fund would cover claims up to a limit (usually $250,000 to $300,000 per state, depending on the state). This protection exists for all licensed insurers, not just Globe Life.
Customer Complaints and Service Issues
Globe Life receives more complaints per policy sold than many competing insurers. The National Association of Insurance Commissioners (NAIC) tracks complaints filed with state insurance departments. Globe Life's complaint ratio is higher than the industry median, with recurring issues around billing errors, difficulty canceling policies, and delays in claim processing.
The Better Business Bureau (BBB) lists Globe Life with an A rating, but the company has received hundreds of complaints over the past three years. Common themes include unexpected charges, confusion about policy terms, and trouble reaching customer service. Some complaints describe aggressive sales tactics or difficulty understanding what was sold.
These patterns do not mean every customer will have a bad experience, but they suggest the company has systemic issues with customer communication and billing accuracy. Before buying, read recent reviews on the BBB website and your state insurance department's complaint database.
Premiums and What You Actually Pay
Globe Life's simplified underwriting comes at a cost. Because the company asks fewer health questions and does not require a medical exam, it prices policies higher to account for the risk it cannot measure. A 40-year-old in good health buying a $250,000 20-year term policy might pay $35 to $45 per month with a traditional insurer, but $60 to $80 per month with Globe Life.
The exact difference depends on your age, health, the amount of coverage, and the term length. If you have a health condition that makes standard underwriting difficult or impossible, the premium difference may be worth it. If you are in good health, you will almost always pay less elsewhere.
Be aware that Globe Life policies often include a waiting period before full death benefits are paid — typically two years. If you die by suicide within that period, the company pays only the premiums you contributed, not the full benefit. Standard insurers also use this clause, but it is worth confirming in your policy documents.
How Globe Life Compares to Other Simplified-Issue Insurers
Globe Life is not the only company offering simplified underwriting. National Western Life, Primerica, and some regional insurers also sell policies without medical exams. Comparing quotes from at least two or three other simplified-issue carriers will show you whether Globe Life's rates are competitive within that category.
You should also get quotes from at least one traditional insurer, even if you think your health will disqualify you. Many people are surprised to find they can obtain standard underwriting at a much lower rate. If you are denied, you can always return to simplified-issue options.
Use online quote tools from Quotacy, PolicyGenius, or your state insurance department's website to compare rates across multiple companies in minutes. You do not need to provide personal information to see preliminary quotes.
When Globe Life Makes Sense
Globe Life is worth considering if you have a health condition that makes standard underwriting difficult, you need coverage quickly, and you have already compared rates with at least two other simplified-issue carriers and found Globe Life competitive. The simplified process means you can be approved and covered within days rather than weeks.
It also makes sense if you are older (over 60) and have limited options elsewhere. Some traditional insurers have age limits or require more extensive medical underwriting for older applicants, while Globe Life will still quote you.
Globe Life is not a good choice if you are in good health and have not shopped around. You will almost certainly pay significantly more than you need to. It is also not ideal if you value strong customer service or a company with a higher financial strength rating — both are available from competitors at similar or lower prices.
Red Flags to Watch Before Buying
If an agent pressures you to buy immediately, uses vague language about what the policy covers, or cannot clearly explain the waiting period and exclusions, walk away. Legitimate insurers and agents are happy to answer questions and let you take time to decide.
If you are told the policy is "may provide" or that you cannot be denied, be skeptical. Globe Life will decline applicants in some situations, and no policy is truly may provide. Read the full policy document before signing, not just the sales brochure.
Check whether the agent is licensed and has no disciplinary history. Your state insurance department maintains a searchable database of licensed agents. If an agent is not licensed or has complaints on file, do not do business with them.
Frequently Asked Questions
Does Globe Life have a good financial rating?
Globe Life holds a B+ rating from A.M. Best, which is adequate but lower than many competitors. The company is unlikely to fail, but there is more risk than with an A-rated insurer. Your state's insurance guaranty fund would cover claims if the company became insolvent, up to state limits.
Can I cancel a Globe Life policy if I change my mind?
Yes, most states require a free look period of 10 to 30 days after you receive the policy. During this window, you can cancel and get a full refund. After that period, cancellation terms depend on your policy type. Some customers report difficulty canceling, so contact the company in writing and keep records of all communication.
What happens if I die during the waiting period?
During the first two years (the waiting period), if you die by suicide, the company pays only the premiums you contributed, not the full death benefit. Death from any other cause is covered at full benefit. This is standard across most simplified-issue insurers.
How do I know if Globe Life is cheaper than other companies?
Get quotes from at least three other insurers — both simplified-issue and traditional carriers if possible. Online quote tools let you compare rates without providing personal details. Rates vary by age, health, coverage amount, and term length, so comparing multiple companies is the only way to know your actual cost.
Is Globe Life a scam?
No, Globe Life is a licensed, regulated insurance company. However, it has higher complaint rates than many competitors, and some customers report aggressive sales tactics or billing issues. Research the company and read recent complaints before buying, and work only with licensed agents.