Globe Life Mailers

[theleadingagent]

I wrote a police for someone then a couple months later they text me a mailer they got from Glob Life that says something like

$100,000 life insurance for $3.49 for adult

Why is the premium so low? What is the catch?

 

[rousemark]

I wrote a police for someone then a couple months later they text me a mailer they got from Glob Life that says something like

$100,000 life insurance for $3.49 for adult

Why is the premium so low? What is the catch?

Because for $3.49 they only get $5K Term insurance in the youngest age bracket. This is from their web page:

Adult Rates As Low As $3.49 Per Month

• Choose Your Term Life Coverage
  $5,000, $10,000, $20,000, $30,000 or $50,000.
• No Medical Exam
  Simple application.
• No Waiting Period
  You buy direct.
• Pay Only $1* For The First Month Of Coverage
  After the first month, the rate schedule is based on your current age and is guaranteed for the life of the policy.

 

[theleadingagent]

Thanks rouseMark!

Ok that makes a bit more sense now. Although this mailer does seem to imply an adult could get 100k term for $3.49

 

[theleadingagent]

Hmm more digging and I found this

Globe Life Insurance Review for 2020 | Buyer BEWARE!

Some review site that mentions Globe Life “rate schedule”; just like what you quoted from their main site. Supposedly increased premiums at certain intervals but eventually higher premium than competitors term. No conversion on their terms and they according to this review site do not specialize in accepting people with health conditions.

Interesting

 

[theleadingagent]

Ok found the “rate schedule” for the state here.

So the $1, $3.49, etc is just the teaser rate for 1 month but after 30days the actual rates are seen here.

The premiums increase every few years as seen below.

 

[rousemark]

Thanks rouseMark!

Ok that makes a bit more sense now. Although this mailer does seem to imply an adult could get 100k term for $3.49

Yeah.. it is very misleading and that is what they intend..

 

[WinoBlues]

Request a quote. While you are at it request AARP.

 

[theleadingagent]

^not going to lie I thought about requesting a quote just to figure out their marketing process but then I would feel guilty making an agent go through all that work knowing I’m not going to buy it. Thankfully the details were found, in small print of course, on their website.

AARP - I think a petty ex trolled me and signed me up for their mailers

 

[shonceman]

Thanks rouseMark!

Ok that makes a bit more sense now. Although this mailer does seem to imply an adult could get 100k term for $3.49

You’re an agent and it fooled you. What do you think happens in the general public? I live across the street from their home office, and have been recruited more than once by affiliates who work through field agents (United American, Liberty National). Since my normal mindset is to support the local economy, I would love to sell their products. But I won’t because of their penchant for deceptive advertising.

... they according to this review site do not specialize in accepting people with health conditions.

Doesn’t stop them from clean sheeting, though. I’ve caught them at it. (Of course, that’s more of a reflection on the agent that wrote it, than on the company. Also possible the guy lied to the agent even though he told me that he’d answered “yes” to the particular question that was incorrectly marked “no” on the app.)

AARP - I think a petty ex trolled me and signed me up for their mailers

Are you over age 50? Everybody gets those mailers. Nobody had to sign you up. I’ve even heard they’ve dropped that age down to 45 recently. Of course, if you’re only 30, you’re probably right!

I still get their mailers, but they slowed the frequency down dramatically after I ripped up the sample AARP card and mailed it back in the reply envelope.

 

[goillini52]

^not going to lie I thought about requesting a quote just to figure out their marketing process but then I would feel guilty making an agent go through all that work knowing I’m not going to buy it. Thankfully the details were found, in small print of course, on their website.

AARP - I think a petty ex trolled me and signed me up for their mailers

That Globe Life biz doesn't involve an agent. It's done by mail/phone.