Great Western Insurance Company: Plans and Benefits in 2026

Overview

Planning for the end of life is one of the most important and most frequently postponed financial decisions a person can make. Funeral costs, burial expenses, and related end-of-life arrangements represent a significant financial burden for families who are already dealing with grief and loss. Having the right insurance in place removes that burden and gives both policyholders and their families genuine peace of mind.

Great Western Insurance Company has been helping Americans plan for these moments for over four decades. In this comprehensive review, we cover everything you need to know about Great Western who they are, what plans they offer, the key benefits, who they serve best, and how their offerings compare to other options in the market in 2026.

About Great Western Insurance Company

Great Western Insurance Company, often abbreviated as GWIC, was founded in 1983 by John E. Lindquist, the owner of a family-run funeral home and mortuary service in Ogden, Utah. From the very beginning, the company’s mission was clear: to ease the stress and financial burden of planning final arrangements for American families. Starting from its Utah roots, Great Western has grown into one of the nation’s recognized providers of preneed funeral insurance and final expense life insurance, now offering its plans in 46 states and the District of Columbia.

The company is currently a subsidiary of Wellabe, a group of insurance companies. The leading credit rating agency for the insurance industry gave Wellabe’s six insurance company subsidiaries, including Great Western, an “A” (Excellent) financial strength rating. This rating reflects the company’s strong ability to meet its ongoing insurance obligations and provides reassurance to policyholders about the company’s financial stability. Great Western is headquartered in Des Moines, Iowa, holds over a billion dollars in assets, and earns over $150 million per year, making it a financially stable and well-established institution in its niche.

Insurance Plans Offered by Great Western

Great Western specializes in two primary categories of insurance: final expense life insurance and preneed funeral insurance. Here is a detailed breakdown of what each offers:

Final Expense Insurance

Final expense insurance is a type of whole life insurance specifically designed to cover the costs associated with death, including funeral expenses, burial or cremation costs, outstanding medical bills, and other end-of-life financial obligations. Unlike preneed insurance, final expense insurance pays a cash benefit directly to your designated beneficiary, giving your family the flexibility to use the money as needed.

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Great Western offers two final expense insurance plans

Assurance Plus – This plan is designed for individuals in good health. It requires answering just three health questions (four in Florida). If you answer “no” to each question, you qualify for immediate coverage with a 25% increase of the full death benefit from day one, with no medical exam required. An accelerated death benefit rider is included at no additional cost — if you are diagnosed with a terminal illness, you can borrow from your death benefit to cover medical expenses and other costs. The Assurance Plus plan also offers a child and grandchild rider for just $1 per month, providing a $2,500 benefit on the first death of a covered dependent child or grandchild. This plan also features a 125% death benefit in the Assurance Plus version.

Guaranteed Assurance – This plan requires no medical examination and no health questions at all. Anyone between the ages of 40 and 85 can apply and will be accepted, regardless of health history. Policies provide between $5,000 and $25,000 in coverage. Because the plan accepts all applicants without health screening, a modified benefit applies for the first two years — if a non-accidental death occurs during this period, the benefit paid is 110% of the premiums paid to date. After the full two years, the complete death benefit becomes available. Coverage for accidental death is provided even during the first two years.

Preneed Funeral Insurance

Preneed insurance works differently from standard life insurance. Rather than paying a cash benefit to a beneficiary, preneed insurance establishes a direct agreement between the policyholder and a specific participating funeral home. The policyholder works with the funeral home to pre-plan every detail of their service, from the casket selection to the memorial service arrangements, and the insurance funds those pre-agreed services at today’s prices.

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Great Western offers several preneed products

The Voyage Policy

Designed to credit either the face amount or premiums paid as a death benefit, whichever is higher. This ensures the policyholder never pays more than their final death benefit. A graded plan is available, but answering two simple health questions qualifies you for immediate coverage. Payment options include a single premium or plans ranging from one to ten years.

The Course Policy

Allows your death benefit to grow at a favorable rate over the lifetime of the policy. Like Voyage, it is designed to fund pre-planned funeral services at a specific participating funeral home.

The Destination Policy

Designed for those whose death is expected within days or weeks. The death benefit is the higher of the premium paid or the cash surrender value.

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Key Benefits of Great Western Insurance

No Medical Exam Required: For both the Assurance Plus and Guaranteed Assurance final expense plans, no physical medical examination is required. This makes Great Western’s coverage accessible to seniors and individuals with health conditions who might be declined by traditional life insurance companies.

Flexible Payment Options: Great Western offers flexible payment structures, including single premium options and multi-year payment plans, allowing policyholders to choose what fits their financial situation.

Accelerated Death Benefit: The Assurance Plus plan includes an accelerated death benefit rider at no additional cost — a valuable feature that allows terminally ill policyholders to access a portion of their death benefit to cover expenses while still living.

Protection Against Funeral Cost Inflation: For preneed policyholders, locking in funeral services at today’s prices protects against the significant annual increases in funeral costs. According to Great Western, average funeral costs in the United States have exceeded $21,000, and these costs continue to rise each year.

Free-Look Period: Great Western offers a 30-day free-look period, allowing new policyholders to review their policy thoroughly and cancel for a full refund if they are not satisfied with no penalties or fees.

Financial Strength: With an AM Best “A” (Excellent) rating and over $1 billion in assets, Great Western has demonstrated long-term financial stability that gives policyholders confidence their coverage will be there when needed.

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Who Should Choose Great Western Insurance?

Seniors and Retirees

Great Western’s final expense and preneed products are specifically designed for older Americans who want to ensure their end-of-life costs are covered without burdening their families. The Guaranteed Assurance plan’s acceptance of applicants from age 40 to 85 with no health questions makes it particularly valuable for seniors who have been declined by other insurers.

Individuals with Health Conditions

Because the Guaranteed Assurance plan requires no health screening and accepts all applicants, it is one of the most accessible insurance options available for people with pre-existing medical conditions.

Families Who Want to Pre-Plan

The preneed funeral insurance options are ideal for people who want complete control over their final arrangements — selecting every detail in advance so that their family does not have to make difficult decisions during a time of grief.

People Seeking Affordable Coverage

Great Western’s final expense plans offer coverage starting at $5,000, making them accessible at relatively affordable premium rates compared to traditional whole life insurance policies.

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How to Apply for Great Western Insurance

Applying for Great Western Insurance is straightforward:

Step 1 — Contact an Independent Agent: Great Western sells its policies through independent life insurance agents and agencies across the United States. You can find a licensed agent in your area through Great Western’s website or through insurance comparison platforms.

Step 2 — Choose Your Plan: Work with your agent to determine whether final expense insurance (Assurance Plus or Guaranteed Assurance) or preneed funeral insurance (Voyage, Course, or Destination) best meets your needs and budget.

Step 3 — Complete the Application: For the Assurance Plus plan, you will answer three simple health questions. For Guaranteed Assurance, no health questions are required. Your agent will help you complete the application accurately.

Step 4 — Select Your Coverage Amount and Payment Structure: Choose your desired death benefit amount — between $5,000 and $25,000 for most plans — and select a payment structure that fits your budget. Premium amounts vary based on your age, gender, and the coverage amount selected.

Step 5 — Review and Sign: Once your application is processed and approved, review your policy documents carefully during the 30-day free-look period. If everything meets your expectations, your coverage is in force.

Great Western Insurance vs Competitors

How does Great Western compare to other final expense and preneed insurance providers?

Great Western is consistently noted for having competitive rates for older applicants, particularly those in their 60s, 70s, and 80s. Its two-plan final expense structure — one for healthy applicants and one for guaranteed acceptance — makes it accessible to a wide range of customers.

Leading alternatives in the final expense market include Mutual of Omaha, Gerber Life, and Colonial Penn. Mutual of Omaha is widely regarded as the strongest overall final expense provider, with a higher financial strength rating and more flexible underwriting guidelines. Gerber Life offers a strong guaranteed issue option for those who cannot qualify for standard coverage. Colonial Penn is well-known for its heavily advertised guaranteed acceptance plan, though premium rates are often higher than comparable coverage from competitors.

It is worth noting that Great Western no longer issues new traditional life insurance policies. Its current product lineup is focused exclusively on preneed funeral insurance and final expense coverage. Buyers seeking broader life insurance coverage should compare Great Western’s specific offerings against full-service insurance providers.

Customer Reviews and Ratings

Customer experiences with Great Western Insurance are mixed, as is common with many insurance companies in the final expense niche.

Positive reviews frequently highlight the simplicity of the application process, the fast processing of applications, and the value offered by the Assurance Plus plan for healthy seniors. Agents who work with Great Western also tend to praise the company’s quick commission processing and straightforward submission process.

Negative reviews, as reflected in consumer rating platforms, center primarily on customer service responsiveness, particularly regarding claims processing and policy change requests. Some customers have reported difficulty reaching responsive customer service representatives and delays in getting issues resolved.

As with any insurance purchase, reading your policy documents carefully, keeping copies of all correspondence, and working with a reputable licensed agent are the best ways to ensure a positive experience.

Conclusion

Great Western Insurance Company has spent over 40 years building a focused, specialized reputation in preneed funeral insurance and final expense coverage. For seniors, individuals with health conditions, and families who want to pre-plan end-of-life arrangements and protect their loved ones from financial burdens, Great Western offers accessible, straightforward coverage backed by solid financial strength.

The company’s no-exam options, flexible payment structures, and preneed funeral planning services fill an important gap in the insurance market and continue to serve hundreds of thousands of policyholders across the United States.

As with any significant financial decision, we recommend comparing multiple providers, speaking with a licensed independent agent, and carefully reviewing all policy terms before making your choice. Planning ahead is one of the greatest gifts you can give your family. Take the first step today and give yourself and your loved ones the peace of mind you all deserve.