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Globe Life Insurance?

Does anyone know if Globe Life Insurance (the one that advertises $1 buys your first month's premium) has a limited benefit factor? In other words, if the insured person dies within 1 or 2 years after the policy is bought, will the beneficiary get the total policy amount (ex. $10,000) or only the total amount from premiums paid? Thanks.

Public Comments

1. Globe sells different types of policies under their $1 for the first month of coverage. I think I have seen term, whole life, and combination term and accidental death insurance all used with that offer. On all of those policies you get the full amount from the time the policy is inforce. I'm not aware of any waiting periods. The only reason that you would only get your premium back is if they deny your claim because you lied on your application and you die within the first 2 years. Usually the only policies with waiting periods are those that are guaranteed issue. They'll give you the insurance with no questions asked, but you have to live and pay premiums for a couple of years before your insurance goes into effect. I'm not aware of Globe selling a guaranteed issue product but i advise you to research this website to learn more : http://www.iramd.com/
2. The Globe Life Insurance Young American Plan® provides up to $30,000 in life insurance coverage for children and young adults. It is by far one of the easiest and most affordable ways to establish their financial foundation while they're still young and $1* pays the premium for the first month. It's Easy To Apply. You just answer a few Yes/No health questions. No agent will call or visit. You buy direct online. There is no waiting period and no reduced coverage period. Once your application is approved, FULL protection starts the first day the policy is issued. You have a NO RISK 30-day money-back guarantee. The beneficiary you select is paid directly, FREE of Federal income tax. The benefit will never be reduced or canceled regardless of future changes in age, health or occupation as long as premiums are paid on time. We guarantee it for life. Since your children's coverage is a whole life insurance policy, it builds cash value that could be used in the future for some of your family's financial needs, including to help with education expenses or even to pay future premiums. THank you