Great Western Insurance Company Review

Great Western no longer sells final expense

Great Western’s final expense line is closed to new buyers. Its parent Wellabe set August 31, 2024 as the last day for new applications and stopped accepting new agent contracts. Wellabe cited low take-up, billing issues, poor persistency and agent fraud.

Wellabe’s current product list no longer includes final expense. If you are shopping now, Great Western is not available through independent final expense agents. Our final expense company comparison covers carriers that are still selling.

Wellabe said renewal commissions continue for agents on existing business. That means the agent who sold you the policy may still be able to help with service questions.

If you already own a Great Western policy

Existing final expense policies remain in force and are still serviced, and claims continue to be paid, according to Wellabe’s notice. Keep paying premiums on time to keep coverage active. A closed product line does not change the terms of your policy.

Think carefully before replacing it. If you bought guaranteed issue coverage and are past the early limited-benefit period, a new guaranteed issue policy would start a new waiting period. If your health has improved, an agent can check whether a day-one plan elsewhere makes sense.

Company background and ownership

Great Western Insurance Company was founded in 1983 in Ogden, Utah, by John E. Lindquist of Lindquist Mortuaries and Cemeteries. It began by funding pre-arranged funeral plans. In January 2018 it was sold to American Republic Insurance Company, part of American Enterprise Group of Des Moines, Iowa.

American Enterprise Group now operates as Wellabe, Inc., which has six insurance company subsidiaries. Wellabe says AM Best affirmed an A (Excellent) rating for its insurers in May 2026. Wellabe’s notice does not name Great Western separately.

Great Western’s roots in funeral funding explain its current focus. Preneed policies are the same kind of product the company was founded to provide in 1983.

Preneed funeral insurance

Great Western still underwrites preneed policies, sold through partner funeral homes rather than life insurance agents. A preneed policy funds a specific funeral plan you arrange with a funeral director. Wellabe lists funeral amounts from $500 to $24,999, with $25,000 and more needing pre-approval.

You can pay in one payment or over 3, 5 or 10 years. Wellabe says you will not be denied for poor health, though health may decide which plan you get. Preneed is different from final expense life insurance, which pays a beneficiary who can use the money for any purpose.

How to check on an older Great Western policy

Start with your policy papers and your most recent premium notice. They show your policy number, the insured person, the face amount and the beneficiary. Make sure the beneficiary is still the right person, since a closed product line does not stop you from updating it.

Tell your family where the policy is kept and which company issued it. Claims are easier when a beneficiary knows the insurer’s name and has a copy of the policy and a death certificate.

If you cannot find your papers, contact Wellabe, Great Western’s parent company. You can also ask your state insurance department about policy locator services. Keep paying premiums while you sort it out so the policy does not lapse.

Alternatives for new buyers

If you need coverage without health questions, guaranteed issue plans from other carriers are still sold. They typically limit benefits in the first two to three years. Mutual of Omaha, for example, sells a Guaranteed Whole Life plan for ages 45 to 85 directly.

If you can answer a few health questions, a simplified issue plan may pay from day one. American-Amicable, Foresters and Aetna all offer day-one plans for qualifying applicants. Availability varies by state.