Cashing in Your Globe Life Insurance Policy: A Comprehensive Guide

While the primary purpose of life insurance is to provide a death benefit to those you leave behind, some life insurance policies have a cash-out value as well. If you have a whole life policy through Globe Life, you might be able to cash that policy in and receive some money.

Step 1

Review a copy of the life insurance policy and check the terms and conditions. Not every Globe Life policy is eligible for cash-out. If you have a term life policy, for example, you have a death benefit only, with no cash value. If you have a whole life policy you might be able to cash it out.

Step 2

Find the policy number on your insurance policy. You will need to provide this policy number to the representative when you call.

Step 3

Call Globe Life at 972-540-6542. Representatives are available from 8:00 a.m. to 4:30 p.m. Central Standard Time, Monday through Friday.

Step 4

Give the representative your policy number and verify that the policy is eligible for cash-out. The representative can give you the value of the policy if you cash it out.

Step 5

Let the representative know you wish to cash out the policy. Verify your name and mailing address so Globe Life can send you the proceeds of your life insurance policy.