Great Western Insurance Company // Free Accelerated Death Benefits

great western insurance review
Kim Wilhelm CEO of Final Expense Direct Life Insurance
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Written by Kim Wilhelm

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Last Updated 24 May 2022

Not all seniors are lucky enough to make it to retirement without serious health issues. If you’re one of those unlucky seniors who doesn’t already have life insurance, you may think you can’t get covered because your health is so bad.

Well, the fact is there are life insurance companies out there offering coverage, no questions asked. One of those companies is Great Western Insurance Company. The company was created by John Linquist in 1983, owner of family business Lindquist Mortuaries & Cemeteries.

Understanding the needs of seniors with special health circumstances, Great Western Insurance Company offers guaranteed coverage to seniors between the ages of 50 and 80.

Find out why Final Expense Direct partners with Great Western and if this life company is the right choice for your insurance needs.

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Great Western Insurance Company Final Expense Insurance

There are two types of final expense insurance: simplified issue and guaranteed issue. Simplified issue asks some health questions but has no medical exam requirement. If you can answer no to all the health questions, you’ll be approved. While it’s cheaper than guaranteed issue, not all seniors can qualify for coverage.

For those seniors, guaranteed issue is the solution. Great Western Insurance Company’s Guaranteed Assurance final expense policy doesn’t have health questions or a medical exam. As long as you can fill out the application and are in the right age range, you’re guaranteed to be approved.

At Final Expense Direct, we make it even easier for you to get a policy with Great Western. Call us and we’ll fill out the application over the phone for you. And you’ll be approved before we hang up.

Great Western Insurance Company Burial Insurance

Burial insurance is just another name for final expense insurance. When you buy life insurance for final expenses, it usually includes paying for your burial. Whether you want a full-blown service or a simple one with cremation, having burial insurance to pay the cost can ensure your wishes are met and your family can afford to pay for what you want.

A simple funeral with burial and viewing costs almost $9,000. Most seniors on a fixed income can’t afford to pay that. With a final expense burial insurance policy, you can.

great western insurance review

Great Western Insurance Company Life Insurance For Seniors

The Great Western Insurance Company life insurance for seniors plan offers coverage from $2,000 to $40,000. You can buy as much coverage as you can afford, with level monthly payments that never increase. 

Your coverage never goes down, either, so you can lock in predictable rates and the right amount of coverage to pay for your final expenses.

Though coverage is guaranteed, you might be able to unlock a larger death benefit. If you can answer no to three health questions (four in Florida), then you’ll qualify for Assurance Plus, which provides a 25% greater death benefit without a medical exam. 

Assurance Plus also comes with additional benefits. You’ll get a free accelerated death benefit rider, which lets you access some of the death benefit while still alive if you’re diagnosed with a terminal illness and have less than 24 months to live. 

You can also get a dependent child and grandchild rider for just $1 per month. It provides a one time benefit of $2,500 if one of your children or grandchildren passes away before you.

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Great Western Insurance Company Senior Life Insurance

As a guaranteed issue senior life insurance plan, Guaranteed Assurance comes with a graded death benefit. If you die in the first two years from a non accidental death, your beneficiary will get 110% of the premiums paid instead of the full death benefit.

So, let’s say you pay $50 per month and pay for a full year before you pass. Your beneficiary will receive the $600 in premiums back, plus another $60 in interest.

If your death is accidental, they get the full death benefit no matter when you pass. After the first two years, your beneficiary receives the full death benefit regardless of what your cause of death is.

great western insurance review

Great Western Insurance Company Funeral Insurance

Funeral insurance can mean a few things, including final expense life insurance for seniors. Some funeral homes offer guaranteed issue final expense insurance, but you only get one company option of their choosing. And it’s usually not the cheapest you can get.

And while you may be on social security benefits, you can’t rely on them to pay for funeral costs. You get a one time benefit of just $255, which might be enough to pay for an urn if you get cremated or some flowers to lay on your casket. 

With an average cost of $7,000 for a direct burial, no one can afford to depend on social security death benefits.

If you and your family can’t afford to pay for your funeral out-of-pocket, don’t count on social security to help. Final expense funeral insurance is a better option.

If you’re not sure how much life insurance you need, call us to speak to one of our agents. We can help you find the right coverage amount with a company that offers the best rates, whether it’s Great Western or another company.

Great Western Insurance Company Life Insurance Costs

Since Great Western offers guaranteed issue senior life insurance, rates are the same and determined by your age. Here are some sample rates for a $10,000 final expense policy with Great Western.

Age

Male 

Female

50

$60

$50

55

$65

$56

60

$75

$66

65

$92

$80

70

$120

$102

75

$159

$139

80

$223

$190

Depending on where you live, how old you are, and the amount of coverage you want, you might be able to get better rates with another company offering guaranteed issue life insurance. If you want the best rate, call us at Final Expense Direct to answer a few questions about your health. We’ll help you get the coverage you need at a price you can afford.

And remember, if you qualify for Assurance Plus or want the child and grandchild rider, the coverage may be a bit more. 

Our goal at Final Expense Direct is to get you the best rates for your health and provide you with peace of mind. You might be surprised at what you can qualify for. That’s why we recommend you give us a call to speak to an agent before buying life insurance. 

No matter what company is the best fit, you won’t have to take a medical exam. We can get most seniors qualified right over the phone with coverage in hand before we hang up.

  • Immediate Approval Over the Phone Today!
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  • Just a Few Health Questions 

Conclusion

If you’re relatively healthy and don’t have a serious medical condition, guaranteed issue life insurance may not be the best choice. You can probably get approved for simplified issue senior life insurance, which is always going to be cheaper. But, if you have a lot of medical issues or are confined to a nursing home, your best bet is guaranteed issue life insurance. Give us a call at Final Expense Direct so we can go over what you qualify for and get your covered, so you don’t have to spend one more day uninsured and worried about how your family will pay for your funeral.

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