Great Western Life Insurance Review (2024)

Great Western Insurance Company provides annuities and final expense life insurance policies across the United States. The Des Moines-based insurance company has over a billion dollars in assets and earns over $150 million per year.

But how much are Great Western life insurance rates?

Our Great Western life insurance review has everything you need to know about the Iowa company’s products, third-party ratings, and history. Also, we’ll explain how you can get Great Western life insurance quotes to see if this carrier is right for you.

Explore your options further by entering your ZIP code in the free online quote tool to compare quotes from multiple companies to find affordable Great Western life insurance.

What products are available at Great Western Insurance Company?

Great Western doesn’t have traditional term life insurance policies. They do carry permanent life policies and an annuity program. Here’s a short list of what you can find at Great Western Insurance Company:

• Final Expense Insurance
• Preneed Funeral Insurance
• Group Annuity

Under the Great Western final expense insurance program, you can choose between Assurance Plus and Guaranteed Assurance. Assurance Plus is focused on healthy policyholders while Guaranteed Assurance is a no-exam life insurance policy. As you might expect, there are limits to the coverage you can get with no exam at a higher price.

Group annuities provide annuities for several people, such as employees at a company.

Preneed funeral insurance establishes an agreement between the policyholder and the funeral home. That means your death benefits will go directly to the funeral home. This is increasingly popular among people who aren’t ready for a traditional life insurance policy. They just don’t want their family to worry about end of life expenses such as funeral expenses. Depending on the funeral home, you may even be able to plan part of your own funeral. Monthly premiums are fixed and won’t increase as long as you keep the policy active.

If you’re the beneficiary of a life insurance policy, start looking into estate planning law to know what to look for after someone has passed.

How much are Great Western life insurance rates?

Despite Great Western’s earning potential and total assets, it’s private about the cost of life insurance and monthly annuity rates. The best way to find Great Western life insurance quotes for life insurance or annuities is to follow these steps:

• Step 1 – Go to the Great Western website
• Step 2 – Click the [Get Your Free Quote] button
• Step 3 – Fill out your information
• Step 4 – Click on [Get Your Free Quote]

Once you get a reliable Great Western quote, compare it to other companies near you to find the best deal. When you fill out your life insurance application on our site, we send the same information to different carriers to get quotes. If you’re applying directly on Great Western’s website, make sure you’re also entering the same basic information and choosing the same coverage amounts there. This is the only way to truly compare plans.

What if I need to cancel a Great Western insurance policy?

If you’ve purchased a life insurance policy with Great Western, you should always look at your documents. You may find them on the customer portal. You can also call customer service to get a copy. Keep in mind, you cannot cancel the policy on the customer portal.

The policy will lay out the cancellation process and what, if any, fees you may owe throughout the process. If you’re looking to get money back, your policy will also detail that. If you’re concerned about things like coverage amounts or automatic payments, you can also talk to a Great Western customer service agent. They may be able to adjust your policy to fit your needs with minimal hassle for you.

If you still want to cancel final expense life insurance policies, you’ll need to submit the cancellation by email, fax, or mailing address:

• Fax Number– 402-496-8199
• Mailing Redirect URL– P.O. Box 14410, Des Moines, IA 50306-3410
• Email (PDF files only)–[email protected]

Preneed insurance policy cancellation is determined by the date the preneed policy was issued.

• You should call 1-866-689-1401 for preneed policies submitted before November 1, 2019
• Contact 1-800-995-9010 for preneed policies submitted on or after November 1, 2019

Policyholders can also call 1-800-733-5454 to stop their monthly payments from being drafted from their bank accounts.

Does Great Western Insurance Company have good financial strength and customer reviews?

One of the best ways to know if an insurance company is reliable is to look at the financial strength and customer reviews.

Under the Better Business Bureau (BBB), Great Western Insurance Company has an A-, but it has a 1.8 rating for customer reviews.

According to A.M. Best, Great Western has an A- rating. What does that mean? The “A-” rating means Great Western has a stable financial outlook. Although it has a strong financial standing, Great Western has long-term credit risk.

What’s Great Western Insurance Company’s history?

John E. Linquist founded Great Western Insurance Company in 1983. Great Western originated out of Lindquist Mortuaries & Cemeteries – a five-generation family business.

Great Western is often confused with the Great Western Bank. However, the two are not related by anything more than a similar name.

In 2018, American Enterprise Group acquired Great Western Insurance Company. The company is still intact and provides permanent life insurance and annuities for current and new customers.

Streamlining Experience With Great Western Life Insurance Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Great Western Insurance Company offers a convenient and user-friendly claims process for its policyholders. When it comes to filing a claim, policyholders have multiple options at their disposal.

You can initiate a claim either online through the company’s website, over the phone by contacting their customer service, or even through mobile apps if available. This flexibility ensures that policyholders can choose the method that suits them best, making it hassle-free to report and start the claims process.

Average Claim Processing Time

One of the critical factors in evaluating an insurance company’s claims process is the average claim processing time. Great Western Insurance Company is committed to providing timely service to its policyholders.

While specific processing times may vary depending on the complexity of the claim and other factors, the company strives to handle claims efficiently. Policyholders can expect a reasonable and competitive turnaround time for their claims to be processed and resolved.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is invaluable when assessing an insurance company’s performance in handling claims. Great Western Insurance Company understands the importance of customer satisfaction.

While the company maintains a strong financial standing, it’s essential to consider how well they handle claim resolutions and payouts. It’s advisable to research and read customer reviews and testimonials to gain insights into the overall customer experience when making claims with Great Western Insurance Company.

Unleashing Innovation Great Western Life Insurance Digital and Technological Features

Mobile App Features and Functionality

Great Western Insurance Company recognizes the significance of digital tools in today’s insurance landscape. To enhance policyholder convenience, the company offers a mobile app that provides various features and functionalities.

These may include the ability to access policy information, make payments, request quotes, and even file claims directly from your mobile device. Exploring the mobile app’s capabilities can help policyholders manage their insurance needs conveniently on the go.

Online Account Management Capabilities

In addition to the mobile app, Great Western Insurance Company provides robust online account management capabilities. Policyholders can log in to their online accounts through the company’s website.

This online portal allows for easy access to policy details, billing information, and other important documents. It’s a convenient way for policyholders to stay organized and stay informed about their insurance coverage.

Digital Tools and Resources

Great Western Insurance Company goes beyond basic online services by offering digital tools and resources to assist policyholders in making informed decisions.

These tools may include calculators to estimate insurance needs, educational articles, and resources to help policyholders understand different insurance products better. Exploring these digital resources can empower policyholders to make the right choices regarding their insurance coverage.

Great Western: What’s the bottom line?

The advantages (pros) of Great Western are the financial strength ratings and various products. The disadvantages (cons) are private life insurance rates and low customer review ratings.

It’s hard to determine whether Great Western is the right company because it is tight-lipped about its prices. You can get single quotes with an in-house life insurance agent. We help people find multiple policies to compare at once.

Enter your ZIP code in the free comparison tool below to compare multiple companies in your local area.