• Globe Life average gross margin for 2023 was 36.42%, a 3.52% increase from 2022.
• Globe Life average gross margin for 2022 was 37.75%, a 2.71% decline from 2021.
• Globe Life average gross margin for 2021 was 38.8%, a 2.93% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.