GPM Life Insurance Review

Customizable whole, universal, and term life plans but no online tools

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GPM Life

GPM Life

Our Take

GPM is a small life insurance company with great financial strength ratings that provides a variety of plan options including permanent life insurance and convertible term policies. The available riders provide customizable coverage and living benefits, but GPM lacks the online tools provided by its competitors. Since other life insurance providers offer the same options while allowing applicants to get a quote and manage their policy online, we recommend going with a different provider if transacting online is important to you. 

  • Pros & Cons
  • Key Takeaways
  • Specifications
Pros & Cons
  • A- (Excellent) financial strength rating from AM Best

  • Offers a variety of riders available with each policy type

  • Offers final expense policies with no medical exam

  • Permanent policies offer the opportunity to earn dividends

  • High age limits for term policies

  • Term policies are convertible to a permanent policy

  • Limited details available online

  • No online quotes or application

  • No online claims

  • Not rated in J.D. Power’s 2020 U.S. Life Insurance Study

  • Customer service reviews on third-party websites are difficult to find

Key Takeaways
  • Government Personnel Mutual (GPM) Life Insurance Company offers universal life, whole life, and term life policies with a variety of available riders. The company also offers three different final expense policies. 
  • GPM represents a small share of the life insurance market and doesn’t offer insurance bundles. The company is focused on serving federal employees and the military, but individuals and families can also benefit from its plans. 
  • GPM doesn’t provide transparent policy details or pricing estimates online, so you’ll need to speak to an agent. However, GPM agents earn commission and are incentivized to sell you a policy. 
  • Year Founded 1934
  • Kinds of Plans Whole life, universal life, term life, final expense
  • Number of Plans 6
  • Payment Options Not listed
  • Official Website


GPM Life Insurance provides term life, whole life, and universal life insurance policies with a variety of customization options through its network of agents. We researched GPM’s financial strength, customer satisfaction, online tools, available plans and riders, and customer service reviews to help you compare the life insurance policy options that GPM offers with the competition. 

Company Overview

GPM Life Insurance is a small provider of life insurance, final expense insurance, Medicare supplemental insurance, and annuities. The company was founded in 1934 and is headquartered in San Antonio, Texas. GPM is licensed to sell insurance in 48 states and the District of Columbia but represents under 0.002% of premiums in the U.S. market. 

GPM was the first U.S. company to offer life insurance without a war exclusion clause and specializes in serving the military and federal employees. Individuals and families can also purchase life insurance from GPM. The company doesn’t offer an online quote or application process, however. Policies are sold through a network of agents by phone. 

Available Plans

GPM offers whole life, universal life, and term life policies with limited policy details online. Term life policies are convertible to a permanent policy without the need for a medical exam. Permanent policies have the potential to earn dividends. GPM also offers three different final expense policies. 

Term Life

Term life insurance is temporary coverage intended to provide income replacement during a period of financial obligations, such as while paying for a child’s education or paying off a mortgage. 

GPM offers term life policies to applicants ages 18-75. Depending on your age, you can get a 10-, 15-, or 20-year term policy from GPM. Premiums stay level for the entire period, but if you choose to convert the term policy to a permanent policy at the end of the term, you’ll pay more. 

Face amounts start at $100,000, and you can get a discount if you and your spouse or business partner each purchase a policy. 

Whole Life

Whole life insurance offers coverage for life with level premiums. These policies also have a cash accumulation component which you can access for income during retirement. Most people don’t need coverage for their whole life, and whole life insurance can be costly.  Because it covers you for your entire life and guarantees a payout, it’s much more expensive for insurers to provide. As a result, premiums for whole life insurance cost five to 15 times more than premiums for term life insurance. 

GPM doesn’t offer details like age or policy limits online, so you’ll need to ask an agent. 

Universal Life

Universal life insurance provides coverage for life and a cash value that grows over time. Unlike term life insurance, universal life insurance never expires and lets you access the cash value during retirement. And unlike whole life insurance, universal life insurance offers flexible premium payments and the opportunity to increase or decrease the death benefit as needed. It’s also more affordable than whole life insurance. 

GPM doesn’t provide details like policy limits or age restrictions on their website, so you’ll need to contact an agent for more information. 

Final Expense Insurance

GPM offers three different final expense policies that are available without a medical exam and can be issued within a few days. Benefit amounts range from $3,000 to $35,000. 

Simplified Issue Whole Life

Available to people in average health ages 50-85, this plan provides a 100% death benefit from the day of issuance. You can also add child insurance or an accidental death benefit up to age 70, which is available for policyholders ages 50-60 at issue. 

Graded Death Benefit Whole Life

This plan includes an accidental death benefit for the first two years only and is available for applicants ages 50-85. A death benefit of 30% is provided in the first year, a death benefit of 70% is provided in the second year, and starting the third year, the policyholder’s beneficiaries are eligible to receive the entire death benefit. 

Modified Benefit Whole Life

This plan is designed for seniors ages 50-85 who have some health issues that might prevent them from being eligible for other final expense plans. The company does not specify these health issues.

During the first two years, this policy only pays out paid premiums plus 10% interest. Starting the third year, the policyholder’s beneficiaries are eligible to receive 100% of the death benefit. This policy also includes an accidental death benefit for the first two years. 

Your current health status will determine which final expense policy you will be eligible for. 

Available Riders

Riders are endorsements or add-ons to an insurance policy that help you get more or different types of coverage to customize your policy. GPM Life Insurance offers a variety of appealing riders, but not every rider is available with every plan or in every state. 

Accelerated Living Benefits Riders

If you’re applying for a new whole life, universal life, or term life insurance policy with at least a $35,000 death benefit, these riders will be included if your state allows. These riders allow you to access a portion of the death benefit while you’re alive if you are diagnosed with a terminal, critical, or chronic illness. 

GPM’s living benefits package is typically included at no cost, but you should ask an agent about the details and restrictions of the rider.

Waiver of Premium Benefit

Available with term, whole life, and universal policies, this rider allows the policyholder to withhold premium payments if they become totally disabled, keeping the policy in force. For term policies, this rider is only available for policyholders ages 18-59 at issuance and the benefit expires at 65. 

Children’s Insurance Rider

Available with term, whole, and universal life policies, this rider allows you to add term coverage for all your children between the ages of 15 days and 17 years. The coverage expires when the child reaches age 25 or the policyholder turns 65, whichever comes first. This coverage can also be converted to a permanent policy for the child later on at a face value up to five times the original amount. 

Additional Term Rider

This rider allows you to add term coverage to your whole life policy in order to have more coverage when you need it most. For example, you may purchase a small whole life policy with an additional term rider while you’re paying off your mortgage. Term coverage under this rider is renewable or convertible. 

Adding term coverage to a permanent policy is a way to ladder your coverage, which will help you save money over purchasing more permanent coverage. 

Spouse Insurance Rider

This rider allows you to add term coverage for your spouse that is renewable and convertible. It’s only available with whole life policies. 

Additional Paid-Up Insurance Rider

This rider allows you to purchase additional coverage for your whole life policy with additional premiums, which increases the value of the policy. 

Guaranteed Purchase Option

This rider lets you purchase additional coverage at certain milestones without completing a medical exam or showing evidence of insurability. It’s available with whole and universal life insurance policies. For universal life plans, this option expires at age 40. 

Accidental Death Benefit

Available with whole and universal policies, this rider provides an additional payout above and beyond the death benefit if the insured dies in an accident. 

Mortgage Protection Rider

This is a decreasing term rider designed to cover the amount you still owe on your mortgage each year. Add this rider to a universal life insurance policy and you’ll have additional term coverage that steps down each year according to how much you owe on your mortgage. 

Income Protection Rider

This is term coverage you can add to a universal life insurance policy that is designed to cover your income during a time when your family relies on your income to meet their basic needs. You can specify that this benefit is paid out over a specific period to provide an income stream for your family in the event of your death. 

Customer Service: Limited Options

If you need to reach customer support at GPM, you can do so by filling out the online form or calling 1-800-929-4765. GPM doesn’t specify its business hours. Most other life insurance companies have more comprehensive options, such as an online chat or email, and some have 24/7 customer support. Other life insurance companies also provide a way for policyholders to complete some transactions online, but GPM does not. 

Customer Satisfaction: A Few Complaints

GPM is not rated in J.D. Power’s 2020 U.S. Life Insurance Study, and reviews on third-party websites are few and far between. However, existing reviews are mostly negative, with customers complaining of incompetence and a lengthy claims process. In addition, GPM received two complaints with the NAIC in 2020, an upward trend from previous years. 

Because of the company’s small share of premiums, that resulted in a complaint index of 56.99. The industry average is 1.00. The reason the score is so high is that it is based on the company’s market share, which is very small in comparison to other insurers. 

Financial Strength: A- (Excellent)

GPM has an A- financial strength rating from AM Best, an independent rating agency focused on rating the financial standing of companies in the insurance industry. A high rating indicates the company can reliably pay claims. Anything in the “A” bracket indicates a reliable company, but many other life insurance companies have higher financial strength ratings than GPM. 

Cancellation Policy: Not Stated

GPM Life Insurance doesn’t list its cancellation policy on its website, so check with an agent for specific details. However, all life insurance companies are required to provide at least a 10-day free-look period or longer in some states. The industry standard is 30 days. During the free-look period, you’ll be able to cancel your insurance policy and receive all paid premiums returned to you. After that, your ability to get any money back will depend on what type of policy you have and how much the cash value has grown. 

Price of GPM Life Insurance: Ask an Agent

While most life insurance companies provide pricing estimates or online quotes for term life policies, GPM doesn’t list pricing information for any of its plans online. You’ll need to call an agent to get a quote, and you may also need to get a medical exam before locking in your rate. 

How GPM Life Insurance Compares to Other Life Insurance

Compared to other life insurance companies, GPM provides limited customer service options and lacks online tools. You can’t get a quote or file a claim online, and you’ll need to communicate any issues by phone or via an online form. Here’s how GPM compares to another life insurance provider. 

GPM Life Insurance vs. State Farm Life Insurance

Both GPM and State Farm offer whole, universal, term life, and final expense policies with plenty of available riders. Each company has been around for a long time and sells policies through captive agents. However, there are some key differences between these companies:

  • State Farm was the top-ranking insurer in J.D. Power’s 2020 U.S. Life Insurance Study, while GPM was not rated. 
  • State Farm provides online quotes for its term policies, while GPM does not. 
  • GPM’s final expense policies are available in face amounts between $3,000 and $35,000, while State Farm only offers a fixed benefit of $10,000. 
  • State Farm offers more online tools, such as online account access, and also provides 24/7 customer service. 
Insurer AM Best Rating J.D. Power Ranking Plan Types  Online Quotes 
GPM  A- (Excellent) Not rated Term, whole, universal, final expense No
State Farm  A++ (Superior)  1 Term, whole, universal, final expense, survivorship life, joint life  Yes, for term life insurance 

State Farm will be a better option for most policyholders because you can get a term quote online and manage your policy online. State Farm also has better indicators of customer satisfaction and more accessible customer service. 

Read our State Farm life insurance review

Final Verdict

Although GPM offers several options for life insurance, it doesn’t provide many policy details online or pricing estimates, so speaking to an agent will be important if you intend to compare GPM to other companies. If you feel more comfortable transacting online, GPM is not the life insurance provider for you. Applying and managing your policy with GPM must be done by phone with an agent. 

Additionally, we have concerns about the reliability of GPM’s customer service. It’s not a bad idea to get a quote from GPM, but compare your options before purchasing a policy.


All of our reviews of life insurance companies are based on extensive research and analysis of each company’s offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features, and reported customer experiences. Visit our life insurance review methodology for the full breakdown of what we evaluated for over two dozen companies.