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What You Should Know
- Global Life has an A (Excellent) rating from A.M. Best
- Accidental death, children's life, term life, whole life, and mortgage protection are some of the products offered
- There are available riders for clients to customize their plans
Life insurance companies' coverage costs vary from state to state, so it is important that you know what type of plan or policy is best for you and your family.
Global Life reviews are rated amongst the best insurance company by different financial rating institutions.
Find out if Global Life has the products for you. Enter your ZIP code now and get a free quote today.
What is Global Life Insurance?
Global Life Insurance Company is very different from many other insurance companies because none of their policies require you to undergo a medical exam. Even still, you can be denied because of your health history based on your application.
The policies that Global Life Insurance Company provides include accidental death, children's life, term life, whole life, and mortgage protection. Global Life also has three available riders that customers can add on to their policies.
What products does Global Life offer?
An accidental death policy is offered by Global Life. Their policy features include:
Inflation benefit: every year the policy is in force, the primary insured's benefit will be increased by 5% until the benefit is equal to 125%, or the insured turns 70.
Seatbelt benefit: if the insured is killed while operating or riding in a car and wearing a seatbelt, Global Life will pay an additional 10% of the insured's principal benefit.
Education benefit: If the insured passes away due to a covered accident, Global Life will pay an additional 10% for each dependent child between 15 and 22. It is only available on the family plan and capped at $10,000.
Common disaster benefit: If the insured and their insured spouse die in a common accident, the insured spouse's death benefit will be increased to 100% of the primary insured's principal benefit.
Dismemberment benefit: Global Life pays a benefit for the loss of a hand, foot, or eye.
Paralysis benefit: This benefit covers quadriplegia, paraplegia, and hemiplegia.
Commercially scheduled airline benefit: If the principal insured dies from bodily injuries received while flying as a fare-paying passenger on a commercially scheduled airline, Global Life will pay an additional benefit amount equal to the insured's principal benefit.
The accidental life insurance policy is intended to supplement your other life insurance coverage, providing up to $250,000 for covered accidental deaths or losses. These policies are guaranteed issue policies, meaning you can't be denied because of your health.
Accidental life also gives you the option of having an accidental death family plan, where the principal benefit for the spouse and any dependent children will be equal to a percentage of the primary insured's principal benefit at the time of the accident.
Another form of accidental life insurance is mortgage protection. You can get between $50,000 and $350,000 of protection - and policies are guaranteed issue if you are between the ages of 18 and 69.
Global Life also offers a children's life policy. This is a whole life policy for children and grandchildren between the ages of 0 and 25 and represents between $5,000 and $30,000 of coverage for them. The policy can build cash value for their future, with no waiting period. This is some of the best life insurance for parents.
Term life and whole life are also available. Term life has between $5,000 and $1000,000 of coverage, with terms that are typically 10 to 20 years in length. Rates vary and the accounts do not gain cash value.
Whole life policies offer between $5,000 and $50,000 of coverage, with consistent premiums for the entirety of your lifetime. Your policy builds cash value and your insurance benefit will never be canceled or reduced.
The three available riders include:
Children's Term to 25 - add up to $10,000 in coverage for dependent children between the ages of 30 days and 23 years. Before the child's 25th birthday, the policy can be converted to a whole life policy.
Terminal Illness Accelerated Benefit - access 50% of your benefits early if you have a qualifying terminal illness.
Waiver of Premium - Global Life will waive your premiums if you become totally and permanently disabled and have added the waiver of premium rider to your policy. The rider terminates on the certificate anniversary nearest your 60th birthday.
Global Life Insurance Company's Cancellation Policy
Global Life offers a 30-day money-back guarantee if you are not satisfied with your insurance plan for any reason. After this period, the free-look period for Global Life, the cancellation policy will vary by insurance plan.
To cancel your policy, call the Global Life insurance phone number at 1-877-577-3860.
How can I contact Global Life?
Contact customer service Monday - Friday from 7:30 a.m. until 6:30 p.m. CT at 1-877-577-3860.
Policyholders can manage their accounts online through Global Life's eService center. This is the place for making payments, reviewing policy details, and updating your mailing address. You can also access it through the mobile app that is available for Androids and iOS devices.
Global Life Ratings
A.M Best, a credit rating agency, issues financial strength ratings. Global Life insurance reviews are among some of the best.
Global Life has an A (excellent) rating. Their low level of risk-adjusted capitalization is what is keeping them from an A+ rating.
What is also noted is the balance sheet strength and the strong operating performance within Global Life's life and health insurance subsidiaries.
Life insurance is of the utmost importance for not only you but for your loved ones as well.
Research more Global Life reviews and see if it is the right company for you. Enter your ZIP code and get a free quote today.