Global Atlantic Life Insurance Review for 2024

Global Atlantic is an option for customers interested in buying term life or permanent life insurance. The company offers competitive rates and multiple life insurance policies. Additionally, Global Atlantic has been rated well by A.M. Best.

Knowing more about Global Atlantic will help you determine if the company fits your life insurance needs.

Before jumping into this Global Atlantic review, enter your ZIP code to find free life insurance rates in your area.

Does Global Atlantic have competitive rates?

The cost of coverage is a common concern for people buying life insurance. Companies consider several factors when determining rates. Some of the common factors that can impact your monthly rates include:

• Tobacco use
• Age
• Driving record
• Criminal history
• Health
• Occupation
• Lifestyle

When determining rates, companies consider the risk of an applicant. In most cases, riskier applicants will experience higher rates. For this reason, the rates are different for each person depending on their specific situation.

However, you can determine the approximate cost of coverage by looking at sample life insurance rates. The following table shows the average monthly Global Atlantic universal life insurance rates based on age and gender.

Global Atlantic Average Monthly Universal Life Insurance Rates by Age and Gender

Age	Average Monthly Male Rates	Average Monthly Female Rates
25	$12.28	$10.95
30	$12.67	$11.10
35	$13.26	$11.87
40	$16.73	$14.33
45	$20.04	$18.42
50	$34.39	$25.10
55	$59.10	$41.08
60	$59.10	$46.88
65	$117.40	$69.78

As you can see, younger people will get the most affordable Global Atlantic life insurance rates. Additionally, rates are usually cheaper for females than for males.

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What policies are available from Global Atlantic?

Global Atlantic provides both term life and permanent life insurance. However, the company lacks whole life insurance, which offers customers full-life coverage at fixed rates. Knowing the different plans provided by the company will help you decide if they have the right plan for you.

Global Atlantic offers term life insurance in 10, 20, and 30-year terms. The rates for these plans remain the same throughout the term. Customers can also sign up for renewable term life plans, but the policy rates will typically increase from year to year as the policyholder ages.

While the term life options are for a limited period, customers can convert any of the company’s short-term policies into permanent plans. This conversion allows customers to change their coverage over time.

In addition to term life policies, Global Atlantic also offers universal life insurance. These permanent life policies feature flexible rates, making them ideal for those that foresee income fluctuations in the future.

The company’s indexed universal life policies come in three different plans. Each plan features a cash value that depends on popular stock indexes, like the S&P 500. The three types of indexed universal life insurance policies include:

• Lifetime Foundation Elite: Guarantees the death benefit up to age 90 or 40 years, whichever comes first.
• Lifetime Builder Elite: Provides more choices with three options to protect the death benefit.
• Global Accumulator: Provides additional ways to invest the cash value.

In addition to these common coverages, Global Atlantic preneed insurance offers a lower tier of coverage. Commonly known as final experience or burial insurance, this coverage pays for funeral and burial expenses, taking the burden off of your loved ones.

Besides life insurance, Global Atlantic stock annuities are also available. Annuities are another way to build savings for your family after passing away. The annuity options offered by Global Atlantic include:

• Fixed annuities
• Fixed index annuities
• Income annuities
• Variable annuities

These annuity options allow the customer to invest a lump sum immediately or spread it out over time.

Does Global Atlantic offer riders?

Most life insurance companies offer options that customers can add to a policy. These options are called riders and allow policyholders to customize a policy to meet their needs. For example, Global Atlantic has numerous riders from which customers can choose.

The most common rider is the accelerated death benefit rider. This option allows customers to access a portion of their death benefit before death if they suffer from a chronic, critical, or terminal illness.

In addition to the accelerated death benefit rider, Global Atlantic offers various other options to customers for a fee. These optional riders include:

• Accidental death benefits rider
• Child rider
• Critical illness benefit rider
• Guaranteed insurability rider
• Long-term care rider
• Return-of-premium rider
• Substitute insured rider
• Waiver-of-premium rider

Adding optional riders to a policy will result in higher Global Atlantic life insurance quotes.

How is Global Atlantic rated?

Credit rating agencies regularly review and rate life insurance companies based on financial strength. These ratings determine the company’s likelihood to provide a payout when you file a claim.

Global Atlantic Insurance has been rated an A by A.M. Best and Fitch. These ratings are strong and indicate the company will usually provide a payout.

Additionally, Global Atlantic has been rated an A- by S&P and an A3 by Moody’s. Each of these Global Atlantic ratings is solid but not at the top of the scale. Nevertheless, the ratings indicate that customers will receive a payout in most circumstances.

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Does Global Atlantic have any complaints?

The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints made about insurance companies. Neither the BBB nor NAIC have reviewed Global Atlantic. However, the company’s underwriter, Forethought Life Insurance, has been reviewed.

At the time of this review, the BBB has received eight complaints about Global Atlantic Forethought Life Insurance. Additionally, the BBB has given the company an A- rating, indicating that the company is transparent with customers.

According to the NAIC, Forethought has a 0.08 complaint index ratio. This number indicates that the company has far fewer complaints than competitors of a similar size.

The BBB and NAIC websites serve as a Global Atlantic wiki, allowing customers to list complaints. Reading individual complaints will help you determine if they should be a concern.

Does Global Atlantic offer any discounts?

Life insurance companies don’t offer the same discount opportunities as other types of insurance. However, the Global Atlantic life insurance company provides a saving opportunity through the Wellness for Life rider.

Customers can obtain this discount by visiting a doctor at least once every other year. Those that keep their weight within a range predetermined by the policy will experience more significant savings. To earn this discount, customers must complete the following steps.

• Schedule a physical
• Have the doctor complete and sign the Wellness for Life form
• Return the form to Global Atlantic

Global Atlantic offers this discount because a customer in good health that regularly visits a doctor is likely to live longer. A long life expectancy makes the insured less risky and more likely to pay the entirety of their policy.

How can you file Global Atlantic claims?

To file a claim with Global Atlantic, customers must call the company. The claims department can be reached Monday through Friday from 8:30 am to 6:00 pm by calling 877-462-8992.

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What are the pros and cons of Global Atlantic?

Every insurance company has pros and cons. Examining these positives and negatives will help you determine if the company is right for you. Customers looking to buy Global Atlantic life insurance should consider the company’s pros and cons.

The positives of Global Atlantic include high financial ratings, competitive rates, and few complaints. These aspects show that customers can expect to pay relatively low rates and receive a payout when filing a claim.

Negatives of Global Atlantic include limited policy offerings and the inability to file claims online. However, if the company provides your desired policy and you prefer to speak with a representative over the phone, these negatives won’t impact your decision.

What is the history of Global Atlantic?

Goldman Sachs founded the Global Atlantic Financial Group in 2004. The ensuing years saw the company purchase various other insurance companies, making those acquisitions subsidiaries of the larger organization.

The company remained an independently-owned organization until February 2021, when KKR purchased a majority stake in the organization. Today, Global Atlantic and its subsidiaries are under the KKR umbrella.

Global Atlantic: The Bottom Line

Global Atlantic provides term and permanent life insurance to customers throughout the United States. The company has competitive rates, strong financial ratings, and few complaints. However, policy options are limited.

Learning more about Global Atlantic will help you determine if it’s the right company for you.

Now that you know about Global Atlantic, enter your ZIP code to get free life insurance quotes in your area.

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