Globe Life Insurance Review (2026)
Globe Life (formerly Torchmark Corporation) is a financially strong, AM Best A-rated insurance company. They are not a scam. However, their most heavily advertised product -- marketed as "burial insurance" -- is a five-year renewable term life policy with step-rate pricing. That means premiums increase every five years and coverage can terminate around age 80 to 90, depending on your state. This is not the same as final expense whole life insurance, where premiums are locked in for life and coverage never expires.
The Core Issue
Term Life Marketed as Burial Insurance
Globe Life's most widely purchased product through their direct-mail and TV campaigns is a five-year renewable term life policy. Here is how it works:
- You buy a policy at a low initial premium
- Every five years, the premium increases based on your new age band
- Coverage terminates entirely around age 80 to 90 (varies by state and product)
- The "$1 for the first month" offer is an introductory promotional rate -- normal premiums begin in month two
Why this matters for burial insurance: The entire purpose of burial insurance is to guarantee your funeral is paid for whenever you pass. A policy that can terminate at age 80 or 90 defeats that purpose. Many seniors live well into their 80s and 90s. A burial policy that expires before you do leaves your family with the exact burden you were trying to prevent.
True final expense insurance is whole life -- premiums locked in on the day you buy, coverage lasts your entire life regardless of age, and the death benefit never decreases. That is what carriers like Mutual of Omaha, Transamerica, Aflac, and every other carrier in Asurgo's network sell for final expense purposes.
Globe Life does offer a whole life product as well, but it is not what is most commonly purchased through their direct-response marketing. Most applicants who respond to Globe Life's ads receive the term product.
At a Glance
Globe Life at a Glance
| Globe Life | |
|---|---|
| AM Best Rating | A (Excellent) |
| Formerly | Torchmark Corporation |
| Primary product marketed | 5-year renewable term life ("burial insurance") |
| Also offers | Whole life (less commonly purchased via direct response) |
| Premium structure | Step-rate -- increases every 5 years |
| Coverage termination | Age 80-90 (varies by state/product) |
| Medical exam required? | No |
| "$1 first month" offer | Introductory promotional rate; normal premiums begin month 2 |
| Coverage amounts | $5,000-$100,000 (term); smaller for whole life |
| Best for | Younger applicants who want low initial premiums and plan to replace coverage later |
| Not ideal for | Seniors who need permanent coverage that never expires |
Strengths
What Globe Life Does Well
Financial Strength
AM Best A (Excellent). Globe Life has been in business for decades (formerly Torchmark, founded 1900). No concerns about claims-paying ability.
Easy Application Process
No medical exam. Applications completed online, by mail, or by phone. Low barrier to entry.
Low Initial Premiums
The step-rate term product starts with a low premium that can look attractive compared to whole life rates at the same age. For younger applicants who plan to convert or replace coverage later, the initial price point is competitive.
High Coverage Amounts Available
Globe Life's term product offers coverage up to $100,000, which is higher than most final expense whole life carriers (typically capped at $35,000 to $50,000).
Children's Coverage
Globe Life offers affordable children's whole life policies that build cash value -- a different product from their adult term offering.
Drawbacks
Where Globe Life Falls Short
Step-Rate Premiums
The premium increases every five years. A policy that costs $30/month at age 60 could cost $60-$80/month at age 70 and $100-$150/month at age 80. Many policyholders on fixed incomes eventually cannot afford the increases and drop the policy -- losing all premiums paid.
Coverage Terminates
In many states, Globe Life's term product ends at age 80 or 90. If you outlive the policy, you have no coverage and no refund. Your family is back to paying for your funeral out of pocket.
Misleading "Burial Insurance" Marketing
Globe Life markets their term product as "burial insurance," but true burial/final expense insurance is whole life -- permanent coverage that never expires. Calling a term policy "burial insurance" creates confusion for seniors who believe they are buying permanent coverage.
The "$1 First Month" Catch
Globe Life's advertising promotes a $1 first-month rate. This is a promotional price. Full premiums begin in month two. The gap between the promotional rate and the real rate can be jarring.
More Expensive Long-Term
When you factor in the premium increases over 15-20 years, Globe Life's total cost often exceeds what a level-premium whole life policy would have cost from the start -- and the whole life policy would still be in force.
Customer Complaints
Globe Life's customer complaint rate is elevated relative to industry averages. Common complaints include confusion about the step-rate pricing structure, unexpected premium increases, and difficulty understanding coverage termination.
The Key Comparison
Globe Life Term vs. True Final Expense Whole Life
| Globe Life (Step-Rate Term) | Final Expense Whole Life (Asurgo Carriers) | |
|---|---|---|
| Premiums | Increase every 5 years | Locked in for life -- never increase |
| Coverage duration | Terminates at age 80-90 | Permanent -- never expires |
| $10K at age 65 (initial) | ~$25-$35/mo (year 1) | $41-$56/mo (locked forever) |
| Same policy at age 75 | ~$60-$90/mo (after increases) | Still $41-$56/mo |
| Same policy at age 85 | Coverage may have terminated | Still $41-$56/mo, coverage still active |
| Total paid by age 85 (20 yrs) | $12,000-$18,000+ (with increases) | $9,840-$13,440 (level) |
| Coverage at age 85 | Possibly none | Full $10,000 benefit |
| Medical exam | No | No |
| Cash value | No (term) | Yes (whole life builds cash value) |
The bottom line: Globe Life's term product starts cheaper but costs more in total over time AND leaves you with no coverage when you need it most. Level-premium whole life costs a predictable amount every month, never increases, and never expires.
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Cost Over Time
What You Would Pay Over Time
$10,000 coverage, non-tobacco female:
| Age Bought | Globe Life Year 1 | Globe Life Year 10 | Globe Life Year 20 | Mutual of Omaha (Level) |
|---|---|---|---|---|
| 60 | ~$22/mo | ~$40-$50/mo | ~$70-$90/mo | $33/mo (locked) |
| 65 | ~$30/mo | ~$50-$65/mo | ~$90-$120/mo | $41/mo (locked) |
| 70 | ~$40/mo | ~$65-$85/mo | May have terminated | $53/mo (locked) |
Globe Life looks cheaper on day one. But within 5-10 years, the step-rate increases catch up and surpass the level-premium whole life rate. And the whole life policy is still paying a death benefit at age 95 -- Globe Life's term may have ended a decade earlier.
Is It Right for You?
Who Should Consider Globe Life
Globe Life may make sense if:
- You are under 50 and want temporary coverage with low initial premiums
- You plan to replace the policy with permanent coverage before the term expires
- You specifically want high coverage amounts ($50,000-$100,000) that exceed final expense limits
- You want children's whole life coverage (a separate, well-regarded product)
Globe Life is likely NOT the right choice if:
- You are 60+ and need coverage that lasts your entire life
- You are on a fixed income and cannot absorb premium increases every 5 years
- You want "burial insurance" that is actually permanent
- You want predictable, level monthly payments
Side by Side
How Asurgo's Carriers Compare
| Globe Life (Term) | Asurgo (Multiple Top Carriers, Whole Life) | |
|---|---|---|
| Policy type | 5-year renewable term | Permanent whole life |
| Premiums | Increase every 5 years | Locked for life |
| Coverage expires? | Yes (age 80-90) | No -- never expires |
| Cash value | No | Yes |
| Coverage max | $100,000 (term) | $50,000 (whole life) |
| Carriers | 1 (Globe Life only) | Multiple top carriers compared |
| Medical exam | No | No |
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Common Questions
Frequently Asked Questions
Is Globe Life a scam?
No. Globe Life is a legitimate, AM Best A-rated insurance company formerly known as Torchmark Corporation. They have been in business since 1900 and pay claims. The concern is not legitimacy -- it is that their most advertised product is step-rate term life marketed as burial insurance, which may not be what seniors expect when they think of permanent burial coverage.
Is Globe Life worth it for seniors?
For most seniors seeking burial or final expense coverage, Globe Life's term product is not the best fit. The step-rate premiums increase every five years, and coverage can terminate at age 80 to 90. Seniors on fixed incomes risk being priced out of their policy or losing coverage entirely. True final expense whole life from carriers like Mutual of Omaha or Transamerica offers permanent coverage with level premiums.
Why does Globe Life advertise $1 for the first month?
The $1 first-month offer is a promotional rate to get applicants started. Full premiums begin in month two. The actual monthly cost depends on age, gender, and coverage amount. This marketing practice can create sticker shock when the real premium kicks in.
Does Globe Life burial insurance expire?
Globe Life's most commonly sold term product can terminate around age 80 to 90, depending on state and product version. This means if you outlive the policy, you have no coverage and no refund. Globe Life does sell a separate whole life product that does not expire, but it is not what is most widely purchased through their direct-response marketing.
How much does Globe Life cost per month?
Globe Life's initial term premiums are lower than whole life -- typically $20 to $40/month for $10,000 at age 65. However, these premiums increase every five years. By age 75, the same policy may cost $60 to $90/month. By age 80, it may cost $100+ or coverage may terminate. Level-premium whole life from other carriers locks in $41 to $56/month at age 65 permanently.
Can I switch from Globe Life to whole life?
Yes. You can purchase a permanent whole life policy from another carrier at any time. Once your new policy is in force, you can cancel Globe Life and stop paying premiums. There is no cancellation penalty. Your new whole life rate will be based on your current age -- so switching sooner locks in a lower permanent rate.
Does Globe Life offer whole life insurance?
Yes. Globe Life does offer a whole life product in addition to their term product. However, their whole life product is less commonly purchased through their direct-response advertising campaigns. Most applicants who respond to Globe Life's TV and mail ads receive the step-rate term product. If you are specifically interested in whole life, an independent broker can compare Globe Life's whole life rates against other carriers.
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Nicholas Norminton, Licensed Insurance Specialist
Specialties: final expense, carrier comparison, independent broker placement, simplified-issue underwriting.
Nicholas is a nationally licensed insurance specialist with extensive experience across the industry. He has personally helped thousands of clients secure life insurance coverage and built Asurgo into a trusted, tech-forward brokerage serving clients in all 50 states.