Frequently Asked Questions
Below are some commonly asked questions about the Globe Life Insurance ExtraLife Plan.
- Is the policy guaranteed to my satisfaction?
- You have a NO RISK 30-day money-back-guarantee.
- Is securing an ExtraLife policy really as simple as it seems?
- Qualifying for ExtraLife is as simple as answering a few basic health questions. $1* pays the premium for the first month. After that, your premiums are based according to your age. Once you are approved and your policy is issued, you are fully covered under the terms of your insurance as long as you pay the premiums on time.
- I already have a good life insurance policy. Is additional insurance necessary?
- There is a good chance it might be. Inflation has weakened many insurance policies. ExtraLife is the ideal way to supplement your existing insurance. It can be used to cover funeral/burial expenses or other miscellaneous debts that are left behind.
- Is there a waiting period?
- There is no waiting period and no reduced coverage period. Full coverage starts the first day the plan is issued.
- How much life insurance can I buy?
- Policies are issued in face amounts of either $5,000, $10,000, $20,000, $30,000 or $50,000.
- How much is the first payment?
- $1.00* pays for the first month for all coverage up to $50,000.
- Will I be contacted by an agent?
- No. You buy direct without an agent.
- Do the policy benefits change while in force?
- As long as your premiums are paid on time, your benefit will never be canceled or never be reduced throughout the policy period.
- In case of death, is the benefit taxed by the federal government?
- No. The insurance benefit is paid free of federal income tax.
- Is coverage available for other family members?
- Coverage is available for your spouse or other members of your family.
