The only things sure in life are death and taxes. Thus, it is important to have a life insurance policy to help your family in the event of your passing. Unfortunately, not all burial insurance carriers are created equal. For example, Globe Life Insurance Company is widely known for sending offers for burial insurance policies that only start at a dollar or some other low figure. In the end, this seems to be some sort of gimmick in which they begin with a low premium but then raise the rate considerably later.
The old saying is that the Devil’s in the details. Keeping that in mind, here are the dirty four things you need to know before purchasing a burial insurance policy from Globe Life Insurance.
#1: You Get What You Pay For in Terms of Service
One draw for consumers is that Globe Life Insurance Company offers low burial insurance or funeral insurance rates and an easy questionnaire process. However, according to Consumer Affairs, the company had a meager 2.5 star rating when we first wrote this article. Globe Life Consumer Affairs rating now stands at a meager 2.0 While there are a few positive reviews on this website, they generally tend to be from people who have not yet had to file a claim and are still making timely payments. It seems that most of the negative issues stem from incidents when beneficiaries try to collect on a policy, which is when any life insurance company should be providing their best service. Sad to say Globe Life doesn’t meet the need of many customers during their greatest time of need.
This has led to consumers turning to local Department of Insurance (DOI) boards in several states, including California where there is a list of substantiated complaints against Globe Life. Some of the published reporting includes a lack of customer satisfaction.
#2: Death Benefits May Not Be Immediately Available
When a loved one passes, the first reaction is usually shock and grief. But shortly after, a monetary need to pay for the funeral or other final expenses occurs and this is when the life insurance company is contacted.
All over the internet, there are multiple examples of Globe Life Insurance Company failing to pay a death benefit without a lengthy waiting period or even at all. The company’s bogus reasoning for non-payment of claims has hurt many families according to reports. Some reports state that Globe denies paying claims if they determine that the insured person was in ill health at the time the policy was issued. They’ll use the excuse the policy is too new, or another bogus reason that leaves an already devastated family scrambling during a time of need.
It’s true you can find complaints from consumers of any product that is sold. However the sheer number of complaints about Globe Life burial insurance is staggering. There are multiple complaints, including some with government agencies. However, the company ultimately wins in most of these complaints because of the fine print in their policy contract. Often policyholders fail to read their policy carefully enough or even at all.
#3: There’s Usually an Age Limit & Health Condition Does Matter
Another reason why Globe Life Insurance usually gets bad reviews is that there’s often an age limit on their policies. However, they still continue to market to seniors who have long since passed this benchmark. In fact, some consumers are taken through nearly the entire application process before finding out they’re not even eligible in the first place. Talk about frustrating!
Their having a minor health condition or other lifestyle factor immediately disqualified them. Many of the Globe Life Insurance reviews online actually cite this scenario. This is leading some to believe that the process is actually commonplace.
#4: There Are Many Other Viable (and Better) Options Available
Unlike death, life insurance policies are not one size fits all and that applies to burial insurance as well. That’s why it is incredibly important to work with an independent agent to determine the financial needs of your family. For example, a single female parent in their late-twenties has her own unique needs. It’s something entirely different than a couple on the brink of retirement. The problem with Globe Life is they treat each policyholder the same until it really matters, when a death occurs.
Consumers purchasing policies from Globe Life often have buyers remorse. Beneficiaries complain that claims are denied or payout is slow. The sad part is, the beneficiary is already suffering with the death of their loved one and now have a financial heartache to deal with. Avoid the hassle, contact our knowledgeable and courteous life insurance team today. We look forward to helping you obtain the coverage you need to protect your family. Call us today at 866-936-3831.
The Final Verdict On Globe Life Insurance Company Is Be Careful!
To find out about other lower priced burial insurance options available instead of Globe Life Insurance Company see the article about Transamerica Premier Life Insurance Company or click contact us. Or speak with a licensed agent by calling 866-936-3831. Gary W Blackmon is a Trusted Choice Independent Insurance Agent and has customers from California to New York. “We Insure the Future” and provide our customers with cheap burial insurance plans to help you secure your financial goals.
Gary W Blackmon Insurance Agency is not affiliated with Globe Life Insurance Company or Globe Life. We provide life insurance solutions to individual and families and help business owners protect themselves against risk. Our agency gets you the best insurance rates because we’re not tied to any one company.