I have had my Globe policy for ten years and decided that I did not need the coverage because I have addition insurance coverage. Upon reading the policy which stated on page three under payment of proceeds it stated, "While the insured is living. You many elect to receive the life insurance proceeds in any other manner." I talked to Carrie at customer service and she stated that was a generic statement placed in the policy and that it has no cash'tvalue. The policy does not state it has or hasn't cash value. I go by the rule if it is not written it is rumor.
I talked to Jay Travis who is a supervisor who could not give me an answer to my question when I stated what the policy said and that I wanted the proceeds and advised he would return my call. As of this date he has not called me back. Since I have no response that they are giving me my proceeds, I have contacted the Insurance Commissioner's for the State of Oklahoma and the State of Georgia.
This is a rip off term policy because at the end of the 20 years you have no coverage for the money you paid even though I have a term life from a reputable company that the contract states I can receive loans, proceeds and at the end of the tem I will have paid up insurance.
Do not fall for the lies this company tells, they only want to steal your money and not live up to the contract.