Globe Life Life Insurance for Children
Policy Type: Whole Life Insurance
Age when life insurance policy expires: never
Fixed Monthly Rates: yes
New Applicant Age Range: 0-24 Applicant
Age Range: $5K-$30K (varies by State)
Builds Cash Value: Yes
Medical Exam Required: No
Acceptance Guaranteed: No
Health Questions to Qualify: Yes
Globe Life’s children’s insurance coverage is really very good. If you are looking for a whole life insurance policy for one of your children or grandchildren, it is a good option to consider.
In our opinion, Globe does not have the best life insurance for children, but it is one of the best on the market.
Because it is a whole life insurance policy, it will never change. Payments are fixed for life and the life insurance policy will not expire at any age.
Globe Life Children’s Coverage Quotes
We use their online calculator to view Globe Life child life insurance quotes. They charge the same rate for both men and women.
We generate these prices using the state of California.
How to qualify for Globe Life children’s insurance
Qualifying for Globe child life insurance is pretty simple.
The parent or grandparent purchasing coverage simply needs to answer the following two questions about the children who will be insured.
Please note that these questions may vary depending on your state of residence.
- In the last 3 years, have any of the proposed insureds had any illness or chronic condition that requires periodic medical attention?
- Has any of the proposed insureds been diagnosed or medically treated by a physician for Acquired Immune Deficiency Syndrome (AIDS)?
If you answered yes to any of those questions, the child may not qualify. If you answer no to both questions, rest assured that they will be accepted.
Is it worth buying your children’s coverage?
As we said earlier, your children’s whole life insurance is not a bad buy by any means.
If you buy your coverage, you can feel comfortable knowing you have affordable coverage for your children or grandchildren from a company that can and will pay the claim if you ever need it.
That said, it’s not your best option.
Grandparents buying life insurance for their grandchildren should consider Globe as a second option, the best life insurance for children is from Mutual of Omaha.
This is why…
- The price is almost identical (they are usually within 50 cents of each other)
- With Mutual of Omaha, you can purchase up to $50,000 in coverage (Globe only offers $30K coverage)
- Mutual has been in business since 1908 (Globe started in 1951).
- Up to 5 times more coverage later in life (based on life events), Mutual of Omaha allows you to purchase more coverage for insured children, regardless of their health.
- If the owner of the life insurance policy dies, Mutual of Omaha will waive payments for 90 days. This gives someone time to take over the payments on the child’s life insurance policy so it doesn’t expire.
To get a quote for Mutual of Omaha’s children’s whole life insurance policy, go to this page. You can run quotes and apply completely online.
Should you buy Globe Life’s final expense insurance?
First, “Globe Life Final Expense Coverage” almost always tries to sell its 90-year policy.
To that, we urge you to say no.
Here’s the thing.
No one knows when you will die.
If you die after your Globe Life term life insurance policy expires, how will you pay your final expenses?
The answer is that you won’t. Your family will have to pay the bill out of pocket (or go into debt) and that’s what you’re trying to avoid!
Globe Accident and Life Insurance Company now has whole life insurance for adults. That would be significantly better, but there’s a catch…
First, it is difficult to qualify for your entire life insurance policy. After talking to hundreds of seniors who have dealt with Globe, they don’t seem to be very accepting of the common health issues that seniors deal with.
So even if you wanted burial insurance from Globe Life that’s for life, they probably won’t even accept you if you’re in similar health to any of the seniors we’ve talked to over the years.
Second, there are much better companies (for a lower rate too) than Globe Life if you want a whole life insurance policy for funeral expenses.
In general, Globe Life’s funeral insurance is not ideal for anyone. You can get much better insurance policies from other insurance companies.
If you want, call us at 1-877-522-6218 and we’ll determine in 60 seconds which other companies would offer you a better deal.
