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Is Global Life term insurance? If so to what age or for how many years? I client was asking me today she took it out but couldn't find her policy. She said she would replace it if it is term.
Global Life Term Insurance
- Thread starter Insuranceman
- Start date
- Staff
- #2
- 1,931
Re: Global Life
They have some creative writing. I like this;
Rate Schedule Is Guaranteed
The premium schedule you establish today will not change for any reason.
So if you bought ART it's guaranteed to stay that way. Yea, lucky you!
They have some creative writing. I like this;
Rate Schedule Is Guaranteed
The premium schedule you establish today will not change for any reason.
So if you bought ART it's guaranteed to stay that way. Yea, lucky you!
M
MichiganAgent
Guest
Re: Global Life
Globe Life is a division of American Income Life. It was designed for people who didn't want to deal with a sales person. It's been a while since I worked for AIL, but it seems like my District Manager told me 90% of the policies were juvenile policies. When they hit 18, they had to convert the policy. AIL agents did a lot of visits to these policyholders to service them and do the conversion.
Like I said, long time (6 years I think) since I worked at AIL, so things may have changed. Like someone else said, the premium is pretty easy to beat. One of the longtime AIL agents told me that at one time Globe advertised it was PERMANENT insurance that cost only $1 per unit...but their unit was $100!
Globe Life is a division of American Income Life. It was designed for people who didn't want to deal with a sales person. It's been a while since I worked for AIL, but it seems like my District Manager told me 90% of the policies were juvenile policies. When they hit 18, they had to convert the policy. AIL agents did a lot of visits to these policyholders to service them and do the conversion.
Like I said, long time (6 years I think) since I worked at AIL, so things may have changed. Like someone else said, the premium is pretty easy to beat. One of the longtime AIL agents told me that at one time Globe advertised it was PERMANENT insurance that cost only $1 per unit...but their unit was $100!
- 7,790
Re: Global Life
I beg to differ with you. Globe and American Income are wholly owned subsuidiaries of Torchmark! "Nuff said.
I beg to differ with you. Globe and American Income are wholly owned subsuidiaries of Torchmark! "Nuff said.
M
MichiganAgent
Guest
Re: Global Life
You don't have to beg. Globe and AIL are definitely wholly owned subsidiaries (i knew what you meant) of Torchmark. I didn't say they weren't.
Torchmark also owns United American and Liberty National. HOWEVER...
UA and LN agents do NOT service Globe policyholders. Since the company has no direct agents, they need a company to service the policyholders. That is what AIL agents did.
When I got a "service request" from Globe, I normally got a copy of the correspondence sent to the policyholder, which was a form letter. I'd be lying if I said I could remember it word for word, but it mentioned that an agent from our parent company would be contacting them. Now since Torchmark isn't an isurance company per se, they had to have SOMEONE be the "parent company", and that was AIL.
Maybe division was the wrong word, maybe "sister company" would have been better. But once again, I worked there, I know what I am talking about. And any Globe leads went to AIL agents.
Torchmark history:
The original core of Torchmark, Liberty National Life Insurance Company, was founded in 1900 as the Heralds of Liberty, a fraternal benefit society. The Company was headquartered in Birmingham, Alabama until 2006 when it moved to McKinney, Texas.
In 1980, Liberty National acquired Globe Life And Accident Insurance Company and formed the holding company, Torchmark Corporation.[3]
In 1981, Torchmark acquired United Investors Life Insurance Company (UIL).
In 1981, Torchmark acquired United American Insurance Company (UA).
In 1994, Torchmark acquired American Income Life Insurance Company (AIL).[3]
In 2010, Torchmark sold United Investors Life Insurance Company (UIL) to Protective Life Corporation.[4]
Why Liberty National agents didn't service Globe accounts, I have no idea. Seems it would make sense, since Globe was originally a Liberty National subsidiary. All I know is, AIL agents ran all over hell's half acre to see the Globe folks, and we were told to tell the customers that we were from the home office!
You don't have to beg. Globe and AIL are definitely wholly owned subsidiaries (i knew what you meant) of Torchmark. I didn't say they weren't.
Torchmark also owns United American and Liberty National. HOWEVER...
UA and LN agents do NOT service Globe policyholders. Since the company has no direct agents, they need a company to service the policyholders. That is what AIL agents did.
When I got a "service request" from Globe, I normally got a copy of the correspondence sent to the policyholder, which was a form letter. I'd be lying if I said I could remember it word for word, but it mentioned that an agent from our parent company would be contacting them. Now since Torchmark isn't an isurance company per se, they had to have SOMEONE be the "parent company", and that was AIL.
Maybe division was the wrong word, maybe "sister company" would have been better. But once again, I worked there, I know what I am talking about. And any Globe leads went to AIL agents.
Torchmark history:
The original core of Torchmark, Liberty National Life Insurance Company, was founded in 1900 as the Heralds of Liberty, a fraternal benefit society. The Company was headquartered in Birmingham, Alabama until 2006 when it moved to McKinney, Texas.
In 1980, Liberty National acquired Globe Life And Accident Insurance Company and formed the holding company, Torchmark Corporation.[3]
In 1981, Torchmark acquired United Investors Life Insurance Company (UIL).
In 1981, Torchmark acquired United American Insurance Company (UA).
In 1994, Torchmark acquired American Income Life Insurance Company (AIL).[3]
In 2010, Torchmark sold United Investors Life Insurance Company (UIL) to Protective Life Corporation.[4]
Why Liberty National agents didn't service Globe accounts, I have no idea. Seems it would make sense, since Globe was originally a Liberty National subsidiary. All I know is, AIL agents ran all over hell's half acre to see the Globe folks, and we were told to tell the customers that we were from the home office!
- 7,790
I worked for Globe a few years back selling the Federal market. The manager was a scam artist.
M
MichiganAgent
Guest
Uhhhh...doesn't that pretty much sum up the whole Torchmark thang? I just saw a news article that rated them one of the worst Insurance Group in America.
AIL had their problems, but Liberty really gets bad marks from customers and agents alike.
I left AIL when they asked me to start lying to the customers.
