Globe Life and Aflac are both companies which provide supplemental insurance. This article explores each one.
History of Globe Life
Globe Life’s origin dates back to 1900 when Liberty National Life Insurance Company opened its doors in Huntsville, Alabama. The Company began with the purpose of providing life insurance to hardworking families.
For the next 100 years, more companies eventually became subsidiaries of Globe Life Inc.:
- American Income Life Insurance Company
- Globe Life And Accident Insurance Company
- Family Heritage Life Insurance Company of America
- Liberty National Life Insurance Company
- United American Insurance Company
This creates a wide selection of insurance products for individuals, families, businesses, and unions. Globe Life is a Fortune 1000 company.
The Globe Life logo is well recognized and is often associated with Globe Life Field, the ballpark of Major League Baseball’s Texas Rangers in Arlington, Texas.
Both Globe Life and Aflac offer many insurance products.
History of Aflac
American Family Life Insurance Company of Columbus was founded in 1955. Brothers John, Paul, and Bill Amos saw a need for financial protection when a medical situation occurs.
Aflac pioneered a cancer insurance policy. In 1974 the company began selling life insurance in Japan, becoming the second U.S. life insurance company to do so. Eventually, Aflac added more supplemental insurances. Aflac is a Fortune 500 company.
The Aflac Duck became a well-known brand mascot and made headlines in 2000 as a TV commercial. It was so successful, Aflac changed its logo in 2005, adding the Aflac Duck.
Globe Life Products and Aflac Products
This is a chart displaying the products both companies make available:
| Globe Life |
Aflac |
| Whole, Term, and Final Expense insurance |
Whole and Term Life Insurance |
| Juvenile life insurance |
Juvenile life insurance |
| Cancer insurance |
Cancer insurance |
| Accident insurance |
Accident insurance |
| Hospital insurance |
Hospital insurance |
| Critical Illness insurance |
Critical Illness insurance |
| Short and long-term disability |
Short-term disability |
| ICU insurance |
|
| Mortgage insurance |
|
| Medicare Supplement insurance |
Medicare Supplement insurance |
| Special Risk insurance for summer camps and 4-H members |
|
| |
Vision and dental insurance |
Financial strength ratings sources
A.M. Best assesses the creditworthiness of and/or reports on insurance companies worldwide.
S&P Global Ratings provide high-quality market intelligence in the form of credit ratings, research, and thought leadership.
Fitch provides credit ratings, commentary, and research for global capital markets.
The Better Business Bureau helps people find businesses, brands, and charities they can trust.
Moody’s long-term ratings are opinions of the relative credit risk of financial obligations with an original maturity of one year or more.
Globe Life financial strength ratings
- A.M. Best Company – For more than 45 consecutive years, Globe Life has earned an A (Excellent) rating or higher from A.M. Best Company.1
- S & P: AA- (Very Strong) 2
- Fitch: A+ Strong rating 3
- A+ Better Business Bureau 4
Aflac financial strength ratings
- A.M. Best: A (Excellent) 5
- S & P Global Ratings: A- 6
Insurance may help protect your family
Whether you purchase insurance from Globe Life, Aflac, or another insurance company, insurance may help protect your family in times of medical and financial need. Both Globe Life and Aflac offer many insurance products.
Contact a licensed insurance professional to learn more about supplemental insurance.
Sources:
- A.M. Best rating as of 8/23. This rating refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, notes, or practice of the insurance company.
- Standard & Poor’s rating as of 10/23. This rating refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, notes, or practice of the insurance company.
- Fitch’s rating as of 10/23. This rating refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, notes, or practice of the insurance company.
- Better Business Bureau’s rating as of 4/23. BBB accreditation does not mean that the business's products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business's product quality or competency in performing services. BBB ratings are not a guarantee of a business's reliability or performance. BBB recommends that consumers consider a business's BBB rating in addition to all other available information about the business.
- A.M. Best rating as of 7/23. This rating refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, notes, or practice of the insurance company.
- Standard & Poor’s rating as of 2/24. This rating refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, notes, or practice of the insurance company.
Aflac,
https://www.Aflac.com/supplemental-insurance/default.aspx, Accessed 2024.
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