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Globe Life and Accident Company was founded in 1951 for the purpose of providing affordable life insurance options to rural Americans. The Oklahoma-based company had expanded to cover 36 states by 1964.
Globe Life today operates as a wholly owned subsidiary of Torchmark Corporation, which is a large financial service holding company with many insurance companies under its banner. They market a selection of basic life insurance policies, accident insurance, and Medicare Supplement under the GlobeCare name.
Globe operates as a direct buy company, with no agents of any kind. Policies are purchased over the phone from company representatives. The company’s headquarters is located in McKinney, Texas, where Torchmark has its headquarters.
GlobeCare Medicare Supplement Plans
GlobeCare offers six out of the eleven available standardized Medicare Supplement plans that are sold in most states under a lettered system.
The plans available are A, B, C, F, high deductible F, and N. Plan A is the base plan that all Medicare Supplement insurers are required to offer. It pays for all Medicare Part A & B coinsurance amounts as well as the first three pints of blood each year. Each of the other plans builds on this coverage, adding extra benefits.
Plan F is the option that covers the most, paying for all out of pocket expenses not covered by Medicare. As a result, this plan is usually the most expensive. The is a high deductible version of this plan brings the monthly rate down while still providing the most comprehensive coverage once the deductible is met. This is a good budget plan for those that would prefer to pay less monthly and know exactly what their out of pocket cost will be for the year (the deductible amount)
GlobeCare has a decent selection of choices and should provide an option to meet the needs of most people.
GlobeCare has online quoting available, but only for a selection of states. We were unable to obtain quotes online for our usual sample area, California, nor were we able to get a quote in the company’s headquarters state of Texas.
After attempting multiple different states and running into error messages and “no plans available” for those that did offer online quoting, we were finally able to obtain some rates for a 65-year-old in Arizona. While these cannot be used to compare to our other sample quotes in California, we gathered rates to get a general idea of pricing.
For our sample quote, Plan A came back at $100.50 a month. Plan F returned a rate of $171.00 a month with the high deductible version of the plan at $50 a month, making it the most affordable choice.
These rates are reasonable compared to what we have seen elsewhere, even though we cannot compare them directly.
GlobeCare uses “Automatic Claims Filing Plus” to handle all Medicare claims. Claims are handled directly with the provider and filed electronically. In most cases, policyholders should not have to be involved in the claims process. This is pretty standard for Medicare Supplement insurance plans.
Ratings and Consumer Reviews
Globe Life has an A+ rating with the Better Business Bureau (BBB), with a total of 251 complaints on file in the past three years. The 94 customer reviews leave the company with just over a four-star rating. They have been accredited with the BBB since 1952. While the number of complaints is a bit high, the positive nature of the reviews provides balance to that number.
There are 66 reviews of Globe Life on Consumer Affairs. The star rating of 2 stars is calculated based on the 35 ratings submitted in the past year. There are several positive reviews mixed in among the negative ones; most negative reviews refer to denied claims. We did not see any reviews specifically relating to Medicare Supplement insurance.
The Bottom Line
Globe Life appears to have a fairly good reputation overall, although we were not able to find anything specific about their Medicare Supplement insurance. They have a decent selection of plans, and what we were able to get in terms of rate information indicates they are fairly priced as well. GlobeCare is worth a look for your Medicare Supplement needs if you live in a covered area.
For a list of companies that we recommend, visit our Best Insurance Companies page.