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About Globe Life and GlobeCare
Globe Life was founded in 1951 by two Oklahoma men seeking to make life insurance policies accessible to people in the state’s rural areas. The company, started on a small loan, grew and expanded throughout the state, and eventually beyond Oklahoma. By 1964, Globe Life was offering its products in 36 states.
Today Globe insures nearly 4 million people, and the company is a wholly owned subsidiary of Torchmark Corporation. Torchmark is a large financial services holding company that owns a number of other similarly sized life insurance companies. They are mainly known for offering the type of simple term and whole life policies that are easy to qualify for and generally affordable.
Globe remains focused mainly on life and accident insurance, but also offers Medicare Supplement plans marketed under the GlobeCare name. They promise to make the process of purchasing Medicare Supplement insurance easy, allowing enrollment either by mail or over the phone. They also promise no solicitation calls from agents when you request more information on their Medicare plans.
GlobeCare Medicare Supplement Plans
Because GlobeCare is available across the nation, their Medicare Supplement plans vary from state to state. They don’t offer any other Medicare options, so if you do need Part D Prescription Drug coverage, you will need to obtain it from another company.
Globe offers the standardized letter-based Medicare Supplement plans starting with the most basic, Plan A. This plan is designed to cover coinsurance for medical, hospital, and hospice, as well as the first three pints of blood each year.
In addition to A, they also offer Plan B, C, F, F with high deductible, and N. While this isn’t the selection we have seen from some other companies, it’s a fairly standard choice of plans. The high deductible F plan provides the same coverage as the regular F, but allows you to pay a lower monthly premium in return for paying a deductible before your coverage kicks in. This is a good choice for those who prefer to pay less on a monthly basis and instead pay as needed on the deductible.
While there are more plans available, this selection does allow the choice of a few different price points and coverage options, with Plan F covering the most – all deductibles, coinsurance, excess medical and foreign travel emergency costs.
GlobeCare has a very easy to use online quoting system that requires just state, zip code, and date of birth, and no other personal information.
Rates are lowest with the selection of a monthly bank draft plan; the system also allows you to quote without the bank draft, quarterly, semi-annually, and annually.
GlobeCare’s Plan A rate with bank draft in California is $103 a month, about 20% higher than the lowest rates we have seen for the same plan, but still a little below average. The Plan F rate came in at $166.50, which is a little above the lowest rates we have seen, but still reasonable. The high deductible version of Plan F as well as Plan N do not appear to be available in California as no rate was returned for them on our search.
Ratings and Reviews
Globe Life isn’t rated by the BBB currently. They have only one complaint on file in the past three years, and that complaint was closed in the past 12 months.
Globe Life has 366 reviews on Pissed Consumer. Surprisingly, there are a number of positive reviews, and Globe appears to take the time to respond to complaints on the forum. This is highly unusual and very encouraging to see. While most large insurance companies have complaints, there are not many that respond to complaints in online forums directly. There are even responses from customers who had previously complained praising the company’s handling of complaints.
It should be noted that the complaints we were able to locate appeared to relate mainly to Globe’s life insurance policies, which makes sense, as that is the vast majority of their business. However, the positive commentary of the company’s customer service approach very likely applies to all of the products they sell.
The Bottom Line
Globe Life is a strong company with a good reputation among its customers for responding to and handling issues promptly. Their rates are not the lowest we have seen, but for those who need only Medicare Supplement, they are worth considering. Good customer service often serves to balance out a slightly higher premium.
For a list of companies that we recommend, visit our Best Insurance Companies page.