The Great Western Insurance Company formerly offered quality, affordable burial insurance, but stopped offering life insurance and annuities for seniors in 2024. Since 2018, when they were purchased by the large insurance company Wellabe, Great Western life insurance options had dwindled, until they were completely removed.
Great Western now only offers one similar product: a pre-need funeral insurance policy, but no other life insurance options. Pre-need funeral plans are limited and expensive, and are no alternative to quality life insurance.
Thankfully, Final Expense Benefits works with over 20 of the top life insurance providers. If you were interested in Great Western funeral insurance, we can help you find an alternative.
Call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET, to learn more about your life insurance options, or check our free online quoting tool for a personalized pricing estimate.
Key takeaways
Great Western Life Insurance formerly offered quality burial insurance, but they no longer provide life insurance.
Great Western was purchased by Wellabe in 2018 and discontinued all burial insurance in 2024.
Great Western provides no life insurance policies. Their only similar option is pre-need funeral insurance.
Great Western’s policies were highly rated by rating services and customers.
History of the Great Western Insurance Company
Founded in 1983 and formerly located in Ogden, Utah, the Great Western Insurance Company had a short history on the life insurance market. Cemetery owner John Lindquist founded Great Western to help people cover their final expenses.
Great Western primarily offered burial insurance, which was their final remaining whole life insurance option when they stopped offering traditional life insurance in 2024. Though Great Western was a smaller provider, their policies were affordable, offering personalized, reliable customer service.
Great Western Insurance was bought by the Wellabe Insurance Group in 2018. Wellabe, formerly known as American Republic Insurance and American Enterprise Group, is a longtime provider with nearly 100 years of service in the insurance industry.
Wellabe has since moved from senior life insurance and annuity options to focus on health insurance and Medicare supplement products. They committed to this pivot by discontinuing Great Western’s final expense options in 2024, choosing to offer no whole life or term life policies in their place.
They provide one remaining product similar to life insurance: a pre-need funeral agreement policy. Great Western still underwrites, approves, and manages this policy. Additionally, they still administer support on existing life insurance policies and annuity accounts.
Great Western Insurance Coverage Options
Wellabe’s discontinuation of Great Western life insurance options has left their catalog barren. Great Western funeral insurance, which is their pre-need burial agreement policy, is their only remaining service that’s even similar to life insurance. But is this policy worth it?
1
Great Western Burial Insurance
Great Western burial insurance was a fairly standard policy with industry standard rates. They offered two underwriting categories: a simplified-issue plan with no waiting period for healthier seniors, and a guaranteed burial insurance plan for seniors with serious pre-existing health conditions.
Great Western provided an extensive list of life insurance riders that added customizability and flexibility to their burial insurance policies. Unfortunately, these affordable policies are no longer available.
As of 2024, their only life insurance product is pre-need funeral insurance, and that’s not the best choice for several reasons.
2
Great Western Funeral Insurance
Their only remaining option even close to life insurance, Great Western Funeral Insurance is a pre-need funeral plan. This plan is a funeral service agreement between you and a funeral home of your choice (as long as they work with Great Western).
Pre-need funeral agreements may seem tempting to seniors who want to get ahead of rising costs for funeral services, burial plots, and cremations. They offer policyholders significant control over their funeral plans and take a lot of the funeral planning guesswork out of your loved ones’ hands. However, this control comes with significant downsides.
These plans come at a high cost, around $10,000 to $25,000. Unlike burial insurance, which offers reliable, locked-in low monthly rates, you must pay most (or all) of that cost up-front.
Pre-need funeral agreements don’t offer any real savings. Costs for these agreements don’t differ too much from paying for the funeral up-front, unlike the low monthly rates burial insurance offers. Though Great Western Funeral Insurance may be a quality pre-need funeral plan, these policies don’t match the flexibility and low cost of burial insurance.
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Limitations of Preneed Funeral Insurance
The main drawback to pre-need funeral insurance is a lack of flexibility. Your money is tied to a single funeral provider, and these plans offer little protection if they go out of business or their rates change. Your money is locked into being used for a funeral and its associated costs, with no other options.
Burial insurance is much more flexible. Your beneficiaries can use the tax-free benefit payout for anything, not just funerals. A quality policy can cover your funeral expenses and have plenty of money left over.
Pre-need funeral insurance’s limitations and high prices mean it’s not a competitive option against burial insurance. To check how much you’d need to save for your funeral costs without having to worry about the hassle of an expensive pre-need funeral agreement, check our free funeral cost calculator.
For help finding an affordable burial insurance policy, call Final Expense Benefits, and be sure to check our free online quoting tool to see how much a quality plan could cost.
Great Western Insurance Company Reviews: Third-Party Rating Services
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Great Western AM Best Rating
AM Best is a third-party agency that assesses insurance providers’ credit and ability to fulfill financial obligations. They currently rate Great Western’s parent company Wellabe A.
This indicates they believe Wellabe has a strong ability to uphold financial obligations.
2
Great Western NAIC Rating
The National Association of Insurance Commissioners (NAIC) records complaints against life insurance companies on their yearly complaint index to protect consumers. The NAIC’s rating scale ranges from 0 to 10, with 1 as the average customer complaint rating. Companies should aim to be rated below 1.
Great Western’s NAIC rating is 0.41. This excellent rating indicates a very strong customer service record, making the discontinuation of their burial insurance even more disappointing.
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Great Western BBB Rating
The Better Business Bureau (BBB) is a rating service that evaluates businesses’ trustworthiness by tracking customer complaints and resolutions. Based on customer complaints and resolutions, they rate companies from A+ to F.
The BBB grades Wellabe A+. However, they are not accredited by the BBB. This rating indicates they believe Wellabe has a superior ability to navigate and resolve customer concerns, but has not exhibited exceptional ability to do so. However, Wellabe is currently rated 1.67 out of 5 based on customer ratings.
Great Western Insurance Company Reviews: Customer Reviews
The customer reviews below reference Great Western burial insurance and are indicative of their previous offerings.
Christopher S
Memphis, TN
5/5
As long as you do what you are supposed to do, the company will do what they are supposed to do. Needless to say, Great Western Life Insurance Company is one of the good ones. Thank you very much Great Western.
Michelle D
Paterson, NJ
5/5
Karen D
Savannah, GA
5/5
Alternatives to Great Western Insurance
Though Great Western Insurance no longer offers burial insurance, seniors have plenty of alternatives. Final Expense Benefits works with over 20 top-rated life insurance companies and can help you find a great burial insurance policy.
We work with the best burial insurance providers on the market, including:
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Burial Insurance: The Best Coverage Option for Seniors
Also called final expense insurance, burial insurance is an affordable and accessible way for seniors to cover their end-of-life expenses. Burial insurance is whole life insurance, providing lifetime coverage, premium rates locked at the policy’s start, and cash value growth. Applying early can help you save, so don’t wait.
Average benefit payouts range from around $5,000 to $50,000. The average funeral costs about $10,000, so you’ll have plenty to cover funeral costs or other end-of-life expenses.
Seniors with pre-existing health conditions can qualify for low-cost plans with no waiting period, offering reliable, accessible coverage. Those with major health conditions can find coverage with guaranteed life insurance.
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How Much Does Burial Insurance Cost?
The best part about burial insurance is its affordability. Below are sample rates from some of our top providers for a benchmark $10,000 policy, calculated using a non-smoking applicant with no preexisting health concerns:
| Company |
Male 50y/o |
Female 50y/o |
Male 60y/o |
Female 60y/o |
Male 70y/o |
Female 70y/o |
|---|---|---|---|---|---|---|
|
$34 |
$27 |
$50 |
$40 |
$70 |
$56 |
|
|
$31 |
$26 |
$43 |
$35 |
$71 |
$53 |
|
|
$31 |
$24 |
$44 |
$33 |
$75 |
$53 |
|
|
$34 |
$29 |
$45 |
$35 |
$79 |
$59 |
|
|
$33 |
$26 |
$48 |
$36 |
$82 |
$58 |
These figures are estimates only, based on a $10,000 final expense insurance policy with no applicant pre-existing conditions.
If you’re interested in these or any of our great life insurance partners, call Final Expense Benefits at (866) 786-0725 or check our free online quoting tool for a personalized pricing estimate.
Final Thoughts
Unfortunately, the only funeral insurance option the Great Western Insurance Company currently offers is a pre-need funeral agreement. We don’t recommend seniors purchase these limited, expensive plans.
Burial insurance is a significantly better investment for seniors. Offering tax-free benefits that can be used for anything, not just funerals, burial insurance gives seniors a flexible, affordable, and accessible way to take care of their final expenses ahead of time.
To learn more about your options, contact Final Expense Benefits at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET. Check our free funeral cost calculator and online quoting tool to estimate how much coverage you need and how much it may cost.
FAQ
Where is Great Western Insurance located?
Great Western was previously headquartered in Ogden, Utah. They’re now a subsidiary of the Wellabe Insurance Group, which is located in Des Moines, Iowa.
Who owns Great Western Insurance Company?
Great Western is owned by the Wellabe Insurance Group, previously known as American Enterprise Group. They purchased Great Western Insurance in 2018 after many years of collaboration.
Does Great Western still provide burial insurance?
Unfortunately, Great Western no longer offers new burial insurance policies as of 2024. They maintain service on policies started before 2024.
What is Great Western funeral insurance?
Great Western funeral insurance is a pre-need funeral agreement plan that Great Western offers in partnership with funeral homes. Pre-need funeral plans are limited and pricey. Burial insurance is a much more reliable, affordable, and accessible choice for seniors.
What is burial insurance?
Burial insurance is a low-cost type of whole life insurance designed to offer seniors accessible, affordable coverage. Average benefit payouts range from around $5,000 to $50,000, plenty to cover the cost of a burial plot.
How much does a funeral cost?
In 2025, average funeral costs in the U.S. are around $10,000, which is why most sample burial insurance quotes are for $10,000 policies. Check our free funeral cost calculator to see how much coverage you need.