Globe Life Insurance Rates for Seniors Calculator
Your Estimated Monthly Premium
Note: Globe Life typically offers the first month for only $1.00. The rate above is the estimated standard premium starting in month two.
Understanding Globe Life Insurance Rates for Seniors
Globe Life is one of the most recognized providers of senior life insurance, primarily known for their "no medical exam" whole life policies. These policies are designed to cover final expenses, such as funeral costs, medical bills, or small outstanding debts.
How Your Rate is Calculated
Unlike traditional term life insurance which may require blood tests and physicals, Globe Life senior rates are determined by three primary factors:
- Current Age: Globe uses age bands (typically 5-year increments). Rates increase as you enter a new age bracket.
- Gender: Statistically, women have longer life expectancies, which often results in slightly lower premiums compared to men of the same age.
- Coverage Amount: Seniors can typically choose coverage amounts ranging from $5,000 to $50,000.
Example Senior Rate Scenarios
While exact pricing varies by state and specific underwriting questions, here are realistic estimates for common coverage amounts:
| Age | Coverage | Est. Male Rate | Est. Female Rate |
|---|---|---|---|
| 60 | $10,000 | ~$42.00 | ~$34.00 |
| 70 | $10,000 | ~$78.00 | ~$58.00 |
| 80 | $5,000 | ~$72.00 | ~$54.00 |
The $1 for the First Month Offer
A hallmark of Globe Life is their introductory offer. Regardless of your actual premium, the first month of coverage typically costs just $1. This allows seniors to review the policy details and confirm it meets their needs before paying the full monthly premium.
Frequently Asked Questions
Are there health questions? Yes. While there is no medical exam (no needles, no scales), you will have to answer a few "Yes/No" questions regarding your health history over the past few years.
Do rates increase over time? Globe Life Whole Life policies have level premiums, meaning once you are locked in at an age bracket, your rates stay the same for the life of the policy.