Global whole life insurance
Global whole life insurance, If life insurance needs are more on the permanent side, Globe offers whole life insurance reporting. With this option, your rates stay the same for life.
Your policy builds cash value for your future and your coverage will never be reduced as long as your premiums are paid on time. This package also does not require medical examinations, but there are some questions you need to answer.
Global whole life policies are considered non-participating whole life. This means that even if it has a guaranteed cash value account, it is not eligible for dividends.
Ideally, this coverage is best for covering small death benefits such as a funeral or final expense needs. Death benefit options range from $5,000 to a maximum of $50,000
Children’s life insurance
Need an alternative for your kids? Globe Life also offers life insurance coverage for children.
Children’s Whole Life is a smaller version of their Whole Life policy. Coverage can be purchased up to a maximum of $20,000 2.17. Child policies can start as low as $XNUMX per month. The policy actually builds cash value and the parents can gift the cash value at some point in the future.
Your child’s age, health, and occupation do not affect benefits as long as premiums are paid on time. This life policy is great if you want to give your child a financial head start because it has a cash value account.
Other Globe insurance products
In addition to life insurance, Globe Life Insurance offers its policyholders additional options to ensure they have the protection they need. Products include:
Globe Accident insurance
An accidental benefits policy is similar to term insurance but with very limited benefits. To collect an AD & D policy, the insured’s death must be of a qualifying accidental nature.
AD & D coverage offered through Globe Life is guaranteed acceptance regardless of health both past and present.
Coverage can be purchased for up to $250,000 18 as long as you are between the ages of 69-5. Just like Globe’s term product, you have the option to renew the policy every five years.
One of the biggest bonuses of Globe AD&D coverage is the several free benefits. These include:
Inflation Benefit: Increases the total death benefit by 5% each consecutive year that the policy is active at no additional cost.
Education Benefit: Can pay an additional 10% death benefit to each dependent child aged between 15 and 22.
Seat Belt Benefit: Comes out with an additional 10% death benefit if the insured died in an accident wearing a seat belt.
Joint Disaster Benefit: If both spouses are insured and pass away from an accidental death in an ordinary accident, the death benefit of the spouse will be increased to 100% of the primary insured benefit amount.
Distribution by division: Pays a benefit due to the loss of a hand, foot, or eye.
Paralysis Benefit: Will pay a benefit due to quadriplegia, paraplegia, or hemiplegia.