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The Origin Of Globe Life Burial Insurance
In 1951, “Globe” would apply for its BBB accreditation after initial success amongst two long-term friends, Ralph Reece and John Singletary.
Initially, the two would borrow $60,000 in their goal to bring inexpensive, yet dependable coverage to rural Oklahoma. The two would continue to gain success, generating reviews and support of constant praise until 1980 when Liberty National acquired Globe Life and Accident Insurance to eventually form the holding company, Torchmark Corporation. Globe Life and Accident Insurance would steadily increase their concurrent premium from $221 million in 1998 to $813 million in 2018.
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Torchmark, and its superstar subsidiary, Globe Life and Accident Insurance, would continue to receive A+ ratings with both the BBB, as well as the NAIC all the way until 2020 when the rating would go from A+ to A, which is still very respectable.