What to do when a Globe Life account holder dies

It depends on how long the policy was in force. A Globe Life policy in force two years or more is incontestable and is processed once the Proof of Death - Claimant Statement and the death certificate are received; Globe Life states that a check typically arrives within 10 to 15 business days from the time the claim is processed. A policy in force less than two years is contestable, and Globe Life reviews the application against the insured's medical history before paying, which means requests for the insured's medical providers and roughly five years of records. Accidental death, homicide, and suicide claims also require the police report, coroner report, autopsy, and toxicology results. Executors settling a recent policy should expect the longer track and gather medical authorizations early.

Yes. Globe Life lets you name a trust as a primary or contingent beneficiary. Provide the full legal trust name, the date the trust was established, and the trust EIN. Update it in your policyholder account at myaccount.globelifeinsurance.com (the account explicitly supports "Update your beneficiary") or call 1-800-654-5433 and ask Policy Service to send a beneficiary change form; mail it to Globe Life And Accident Insurance Company, Attn: Policy Service, 7677 Henneman Way, McKinney, TX 75070. Naming the trust keeps the proceeds out of probate and lets the trustee control distribution to minor or spendthrift beneficiaries. When the trustee later files the claim, Globe Life asks for the certificate of trust and trustee photo ID alongside the claimant statement.

Yes for the life products — whole life, term life, final expense, children's life, and mortgage protection can be assigned to an ILIT through an absolute assignment of ownership, requested from Globe Life Policy Service at 1-800-654-5433. The supplemental products (accidental death, accident, cancer, critical illness, hospital, ICU, and Medicare Supplement) cannot be trust-owned; a trust can only be named as beneficiary where the product pays a benefit at death. Assigning an existing policy to an ILIT starts the three-year lookback under IRC 2035 — if the insured dies within three years, the death benefit comes back into the taxable estate — so an ILIT that applies for and owns a new policy from inception avoids the problem. Consult an estate planning attorney before establishing an ILIT.

The death benefit is paid under the terms of the policy, which generally means it is payable to the insured's estate. The proceeds then pass through probate, exposing them to creditor claims and court costs and delaying distribution — the executor has to open the estate and present letters testamentary or letters of administration to the Globe Life claims division before the benefit is released. Naming both a primary and a contingent beneficiary (or a trust) avoids that outcome. Globe Life does not limit how many times you change the beneficiary during the insured's lifetime.