Your Coverage Options With Globe Life

Standard Coverage, or “pure” life insurance. Generally, you’re provided with a term, such as 20 years for example, wherein you’re guaranteed payment as stated by the death benefit if the policyholder dies within the stated term. If alive at the end of term, one may renew for an additional term, or convert the existing coverage to permanent coverage. The perks of this coverage involve the introductory price point, which is generally the most budget-friendly option for the relative amount of coverage received. Depending on if it’s simplified or guaranteed, This form of insurance usually requires a medical examination.

Globe Life Whole Life Insurance

On the other side of the same coin, Whole Life insurance is generally what Term Life Insurance leads into, providing an entire lifetime of coverage at a fixed rate decided at the time of purchase as long as premiums continue to be paid. Whole Life is a great middle-ground for a large amount of coverage as well as a fixed premium that isn’t too high. Again, depending on coverage type, this option usually requires a medical examination.

Globe Life Burial Insurance

Otherwise known as Globe Life Final Expense Insurance, or Globe Life Funeral Insurance, this form of insurance offers to cover beneficiaries’ funeral expenses involving the policyholder. This insurance type excels in providing plan holders with a large payout relative to the length of coverage, usually providing beneficiaries with a surplus after all expenses are accounted for. Globe Life Burial Insurance never requires a medical examination but may ask you general medical questions such as if you use tobacco, age, weight, etc.

Globe Life Children's Life Insurance

Children’s Life Insurance Policies exist as a whole life plan, aiming to guarantee the insurance of said child as early as possible. Similar to a normal Whole Life Insurance policy, the rate you lock in at is permanent regardless of future market conditions. The main benefit to traditional whole life insurance involves the consistent traction in accruing funds, allowing for a large period of time to gather additional interest. On this note, a Children’s Life Insurance policy would excel in this aspect as the median age for this policy involves a beneficiary in their 20s. The beneficiary may also become the policyholder at a certain age, usually at a minimum of 21.

Globe Life Mortgage Protection

This insurance type aims to mitigate any surprise expenses following the policyholder’s death regarding said mortgage. Mortgage Protection Insurance is in a category of its own, in that, generally, your payout does not go to a beneficiary but rather the owner of said mortgage. This may deter some from this coverage type, as this is one of few insurance types that does not produce a large payout to your beneficiaries.

Best $10,000 Burial Insurance Companies

*Rates are examples and not quote for insurance