ED Magedson – Founder
Globe Life InsuranceInternet United States of America
Globe Life is known for their $1 first month life insurance. Then, their literature says "After the first month, the rates are based on your current age and are guaranteed for the life of the policy." However, this is a flat out lie, because the rates go up every five years until they cancel your policy at age 80. This brings me to the next lie. "Your coverage is a term-to-age-90 life insurance policy." "Your benefit will NEVER be canceled or reduce throughout the policy period regardless of changes in your health or occupation as long as your premiums are paid on time. We guarantee it for life." However, when you get your policy it states that your benefits are reduces by 50% at age 70 and terminated at age 80. These are clear contradictions.
I imagine that they get away with this by what they are not saying, but that is like me giving you a lifetime warranty for a product I sell you "even if you break it", but then voiding the warranty because I broke it before I sent it. Afterall, I didn't say I would replace it if it was broke when you got it, right.
This report was posted on Ripoff Report on 01/08/2010 04:01 PM and is a permanent record located here: http://www.ripoffreport.com/r/Globe-Life-Insurance/internet/Globe-Life-Insuranc-false-advertising-Internet-551308. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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