Is Globe Life Burial Insurance Legit? Financial Ratings, Claims, Reviews, Benefits and Drawbacks

Globe Life Insurance is a leading provider of final expense life insurance. They have been in business for over 100 years and have an A+ (superior) rating from the A.M. Best Company.

Globe Life Burial Insurance offers a variety of policy options to meet different needs and budgets.

They have a simple and easy application process and do not require medical exams for most policies.

Is Globe Life Burial Insurance legit?
The company has an average rating of 4 out of 5 stars on the Better Business Bureau (BBB) and 4 out of 5 stars on Trustpilot. [Photo: Funeral Funds of America]

Is Globe Life Burial Insurance legit?

Globe Life Burial Insurance is a legit final expense life insurance provider.

They’ve been in business for over 100 years and hold an A+ rating from A.M. Best, a top credit rating agency in insurance.

This rating means Globe Life is financially strong and can likely pay claims.

As a Better Business Bureau member, Globe Life Burial Insurance has an average customer rating of 4 out of 5 stars. This indicates a solid customer service track record.

What is final expense life insurance?

Final expense life insurance is a type of life insurance that is designed to cover the costs of your funeral and burial.

This type of insurance is typically sold in small amounts, and the premiums are relatively affordable.

Why should you consider Globe Life Burial Insurance?

Consider Globe Life Burial Insurance for several reasons:

  1. Strong Financial Position: Globe Life holds an A+ (Superior) rating from A.M. Best, indicating financial stability and a high likelihood of meeting claims.
  2. Good Customer Service Track Record: With an average rating of 4 out of 5 stars on the Better Business Bureau, Globe Life has a positive reputation for customer service.
  3. Variety of Policy Options: Globe Life offers diverse policy options to suit different needs and budgets, allowing you to choose coverage amounts and payment terms.
  4. Simple Application Process: Applying for Globe Life is straightforward; you can apply online or by calling an agent.
  5. No Medical Exams for Most Policies: Most Globe Life policies don’t require medical exams, ensuring quick and easy coverage, even if you have health issues.

How much does Globe Life Burial Insurance cost?

The cost of Globe Life Burial Insurance will vary depending on your age, health, and coverage amount. However, the premiums are typically relatively affordable.

How can I get a quote?

You can get a free quote from Globe Life online or by calling an agent.

Globe Life Burial Insurance is a good choice for people who want affordable and reliable final expense life insurance.

Benefits of Globe Life Burial Insurance

  • Affordable premiums
  • Variety of policy options
  • Simple and easy application process
  • No medical exams required for most policies
  • Strong financial position
  • Good track record of customer service

Financial Details and Ratings

  1. A.M. Best: A+ (Superior)
  2. Fitch Ratings: AA- (Very Strong)
  3. Standard & Poor’s: AA- (Very Strong)

Globe Life’s financial stability and strong ability to fulfill policyholder obligations are highlighted by these ratings.

This assures you that Globe Life can confidently pay your death benefit if you were to pass away.

Beyond its robust financial ratings, Globe Life is accredited by the Better Business Bureau (BBB) and holds an A+ rating.

This signifies a solid history of addressing customer complaints.

Is Globe Life Burial Insurance legit?
Globe Life Burial Insurance is committed to providing its policyholders with a quick and easy claims handling process [Photo: Globe Life Careers]

Claims Processing and Duration

Globe Life Burial Insurance takes pride in swiftly and efficiently handling claims.

They aim to process most claims within 30 days after receiving all necessary documents, although the actual time may vary based on claim complexity.

To speed up the process, Globe Life advises submitting all required documentation promptly. This includes:

  1. A completed death claim form
  2. A certified copy of the death certificate
  3. Proof of the relationship between the insured and the beneficiary
  4. A copy of the insured’s policy

Once Globe Life has all the necessary documents, they’ll review the claim. If approved, you’ll receive your death benefit payment within a few days.

Customer Reviews

Customers generally give positive reviews to Globe Life Burial Insurance. The company holds an average rating of 4 out of 5 stars on both the Better Business Bureau (BBB) and Trustpilot.

Positive comments often highlight the company’s affordable rates, easy application process, and swift claim handling.

For instance, a BBB reviewer stated, “Globe Life’s customer service impressed me. The agent was helpful and knowledgeable, answering all my questions.

Another Trustpilot reviewer mentioned, “Globe Life Burial Insurance was a lifesaver when my husband passed away. They processed my claim quickly, and I received my death benefit payment within a few days.

While there are some negative reviews, citing issues with customer service or claim approval difficulties, the majority of feedback is positive.

This suggests that Globe Life Burial Insurance is generally regarded as a reputable company that provides good value for money.

Is Globe Life Burial Insurance legit?
Globe Life Burial Insurance appears to be a good choice for people who are looking for affordable final expense life insurance. [Photo: Castro Marina]

Is Globe Life Burial Insurance legit? What are the pros and cons?

Pros Cons
Affordable rates Some reviewers complain about the company’s customer service
Easy application process Some reviewers report difficulty getting claims approved
Quick claims handling
Good customer service

Drawbacks of Globe Life Insurance

Globe Life Insurance offers advantages like affordable rates and a straightforward application process, but it’s crucial to be aware of potential drawbacks before deciding on a policy.

Limited Coverage Amounts: Globe Life’s term life insurance policies have a maximum coverage of $100,000, which might not be enough for individuals or families with higher financial needs.

No Universal life insurance: If you’re seeking a policy combining life insurance protection and cash value accumulation, Globe Life doesn’t offer universal life insurance.

Complaints to the NAIC: Globe Life has received more complaints to the National Association of Insurance Commissioners (NAIC) than the national average. Concerns often involve delays in claims handling and billing issues.

Limited Policy Information Online: Globe Life’s website has limited details about policies and payment methods. Contacting an agent may be necessary for more specific policy information.

Few Policy Options: Globe Life provides only term and whole life insurance policies with a limited number of riders. If you want more policy options or specific riders, exploring other insurers might be advisable.

No Medical Exam Options for Whole Life: Globe Life’s whole life insurance policies require a medical exam, which may be inconvenient for some. If you prefer a no-medical exam policy, Globe Life has limited options.

Potential Rate Increases: Globe Life’s term life insurance policies undergo rate increases every five years, potentially leading to significant premium hikes over time. Consider potential rate increases when evaluating overall policy costs.

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