Unpaid premiums may result in a “lapse of coverage” which means you could possibly lose the coverage altogether. Many Globe Life policies have a 31-day grace period, which will allow your coverage to remain in force. Please check your policy details for more info.
We understand things happen, so we’ll work to find the best solution for you. Depending on your account standing, you may have a few more options:
- Depending on your policy type and how much you’ve already paid on it, your policy may be eligible to waive a portion of the past due premium.
- Depending on your policy type and how much you’ve already paid on it, you may be able to use the cash value accrued to help pay for policy premiums.
- Depending on your policy type and how much you’ve already paid on it, you may be able to reduce the face value of your policy to reduce the premiums.
Please note, each of the options above do have limitations and may not be available on every policy. If you need support on your policy, call (877) 577-3860 to learn more about your options to keep your coverage in place.