Great Western Final Expense Insurance [2024 Update]

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Who Is Great Western Life Insurance Company?

Founded in 1983 and headquartered in Ogden, Utah, Great Western Insurance Company is a final expense insurance carrier that targets the senior market.

The company was founded by John Lindquist, who owned Lindquist Mortuaries & Cemeteries, a five-generation family business, giving the company a deeper knowledge of the funeral home industry and how to finance funeral expenses for its clients.

Attribute Details
Founded 1983
Address PO Box 1625
Watertown, SD 57201
Email customer [email protected]
Phone (800) 733-5454
BBB Rating NR
A.M. Best Rating A (Excellent)

Great Western is part of the American Enterprise Group of companies, which together have more than $2.4 billion in assets. In 2018, American Enterprise Group acquired GWIC.

Great Western is licensed in 46 states and the District of Columbia and holds an A (Excellent) financial strength rating from A.M. Best.

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Final Expense Insurance 101

People often compare Final Expense insurance to Preneed Funeral insurance when they are thinking about preplanning. However, the two types of insurance have different purposes. Final Expense insurance is meant to minimize the burden on your family after you die, while Preneed Funeral insurance helps you pay for your funeral in advance.

Preneed insurance is a way to plan your funeral in advance. You work with a specific funeral home to choose and price all the elements for your funeral. Your Preneed policy locks in the total amount, and it is paid to the funeral home to cover your funeral expenses.

Final expense insurance can help you and your family pay for funeral costs and other expenses. This can take some of the burden off your family, so they don’t have to worry about it.

You and your family can decide how to spend the money. This money can be used for unpaid bills, medical expenses, or college tuition for children or grandchildren. If they choose to use the money for your funeral, they can make arrangements with any funeral home.

How Much Coverage Do You Need?

You cannot rely on Social Security payments to cover your final expenses. The U.S. government only pays a lump sum of $255 to people who qualify. You should have peace of mind knowing that your loved ones will be taken care of financially after you die.

It is hard to predict the future, so knowing how much insurance you need to cover your funeral costs can be difficult. First, think about who depends on you and what bills they would have to pay if you died.

For example, immediate costs could include your funeral and estate taxes. Long-term payments could include your personal debt and college tuition.

Great Western’s funeral expenses calculator can help you estimate how much a funeral will cost. The cost is based on whether you choose burial or cremation. The calculator also shows how the cost can change over time due to inflation.

You will also need to think about how much money you will need to pay for your funeral and any other debts your family may have after you die. This amount can be estimated by adding up the minimum coverage required for both of these expenses.

Great Western Final Expense Insurance Policies

Great Western offers two burial insurance plans: Assurance Plus and Guaranteed Assurance.

No matter which policy type you purchase:

  • Your premiums will never go up
  • Your policy’s payout can be used for any purpose
  • Your policy builds cash value that is tax-deferred and that you can borrow against

Assurance Plus

Assurance Plus is for people in good health who want more value. If you can answer “no” to three health questions (four in Florida), you will qualify for their level benefits policy, which makes your policy eligible for a full death benefit payout starting on day one, with no required medical exam.

An Accelerated Death Benefit rider is also included at no additional charge. And for only $1 a month, you can help protect your family with the Dependent Child and Grandchild rider. This one-time benefit will pay $2,500 on the first death of a dependent child or grandchild.

Guaranteed Assurance

Guaranteed Assurance policies provide coverage with no underwriting and no health questions to answer.

If a death occurs in the first two policy years and is not an accidental death, the benefit paid will be 110% of the premiums paid to date.

After the first two policy years, called the “waiting period,” the full death benefit is paid, regardless of how the death occurs.

However, if a death occurs by accident at any time, the full death benefit will be paid.

Check Out: Evaluating Gerber Life Insurance Options

Choose kindness.

You never know what battles people may be fighting.


Great Western final expense insurance is an excellent choice for those with significant health conditions, such as HIV/AIDS, dialysis, and Alzheimer’s, among others.

We hope you found this review helpful.  If you have any additional questions, don’t hesitate to leave a comment or send us an email, and we’ll be sure to get back to you within 24 hours.

Warm Regards,
The GetSure Team

Article Sources
  1. Final Expense Whole Life Insurance. Great Western Insurance Company
  2. Great Western Final Expense Forms Library. Great Western Insurance Company
  3. Funeral Expenses Calculator. Great Western Insurance Company
  4. Great Western Insurance Company. Better Business Bureau