Great Western Insurance Review & Complaints (2024)

The Great Western Insurance Company is an Iowa-based insurance provider that offers annuities and final expense life insurance policies across the United States.

But how much is Great Western life insurance?

Our Great Western life insurance guide explains everything you need to know about the company’s life insurance rates, products, third-party ratings, and much more.

Why stop at Great Western? Explore your options even further by entering your ZIP code in the free comparison tool to see the best life insurance companies in your area.

What is the difference between Final Expense and Preneed insurance?

People tend to compare Final Expense insurance to preneed funeral insurance However, the two types of insurance minimize burdens on your family in different ways. With Preneed insurance, you work with a specific funeral home to select and price all the elements for your funeral. Your Preneed policy locks in the total amount, and it is paid to the funeral home to cover your funeral expenses.

Final Expense insurance doesn’t remove the task of planning the funeral , but it can alleviate the burden on your family of covering funeral costs and an array of other expenses. Your family can decide how to dispense the money, which can be used for unpaid bills, medical expenses, and even college tuition for children or grandchildren. If they choose to use it for your funeral, they can make arrangements with any funeral home.

How much do Great Western Life Insurance rates cost?

Great Western made over $100 million in 2020, but its life insurance rates are private. You can get access to Great Western life insurance quotes by following 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]

Getting a quote is half the battle. We recommend getting a quote from another company before you buy Great Western life insurance or annuities to ensure you’re getting the best price.

A quote doesn’t mean you’re on the hook for a policy. You may not find affordable Great Western life insurance rates. Shop around until you get what you need.

What products are available at Great Western Insurance Company?

Great Western doesn’t provide term life insurance policies. It does carry permanent life policies and annuities. Check out this list of products you can purchase from Great Western Insurance Company:

• Final Expense Insurance
• Preneed Funeral Insurance
• Group Annuity

Great Western’s final expense life insurance option has two sub-options: Assurance Plus and Guaranteed Assurance.

Assurance Plus is focused on healthy policyholders, but Guaranteed Assurance is a no-exam life insurance policy. Group annuities are annuities for several people. (For more information, read our “Best No-Exam Life Insurance Companies“).

Preneed funeral insurance is a contract between the policyholder and the funeral home, where your death benefits go directly to the funeral home.

Your preneed funeral insurance has fixed monthly rates, so you won’t have to worry about them increasing over time.

What are Great Western Insurance Company reviews?

According to A.M. Best, Great Western has a financial strength rating of A- rating. The “A-” rating means Great Western has a stable financial outlook and an excellent ability to meet obligations to customers. Great Western has a strong financial standing, but it has long-term credit risk.

Good financial stability and a high rating from AM Best give customers confidence that Great Western Life Insurance can pay out policy claims.

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

Read more: Great-West Financial Insurance Review & Complaints: Life Insurance

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

You can’t cancel your Great Western insurance policy on the Great Western website. Also, the cancellation process depends on the policy. Check out Great Western’s contact information.

Great Western Life Insurance Contact Information

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

You can also call 1-800-733-5454 to stop monthly payments from being taken out from your bank accounts.

What is the Great Western Insurance Company history?

John E. Linquist established Western Insurance Company in 1983, which was originally called Lindquist Mortuaries & Cemeteries – a family business that lasted for five generations.

Great Western Bank is often confused with Great Western Life, but the two organizations aren’t related.

The American Enterprise Group bought out Great Western Insurance Company in 2018. Today, Great Western is still intact and provides permanent life insurance and annuities for current and new customers.

Claims Process for Great Western Insurance

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

Great Western Insurance Company offers multiple options for filing insurance claims, ensuring convenience for policyholders. You can file a claim through their online portal, over the phone, or by using their mobile app. This flexibility allows you to choose the method that suits you best, whether you prefer the convenience of digital channels or prefer speaking to a representative.

Average Claim Processing Time

The average claim processing time at Great Western Insurance Company may vary depending on the nature and complexity of the claim. It’s advisable to contact their customer service or refer to your policy documents for specific information on claim processing times. They strive to process claims efficiently to provide timely support to their policyholders.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback on claim resolutions and payouts at Great Western Insurance Company is essential for evaluating their performance. While the company has a financial rating of “A-” from A.M. Best, it’s worth noting that their customer review rating at the Better Business Bureau is 1.8 out of five stars.

This suggests a mixed reception among customers regarding claim resolutions and payouts. Before choosing Great Western, it’s a good practice to research and consider customer experiences to make an informed decision.

Digital and Technological Features of Great Western Insurance

Mobile App Features and Functionality

Great Western Insurance Company provides a mobile app that offers various features and functionalities to enhance your insurance experience. The app allows you to manage your policy, file claims, view policy documents, and access important information on the go. You can explore the app to discover its full range of features, making it easier to stay connected with your insurance provider.

Online Account Management Capabilities

Managing your insurance policies and accounts online is made convenient with Great Western’s online account management capabilities. Through their website, you can access your account, review policy details, make payments, and update your information. This digital tool simplifies the administrative aspects of your insurance, giving you greater control and accessibility.

Digital Tools and Resources

Great Western Insurance Company offers a suite of digital tools and resources to assist policyholders in understanding their coverage and making informed decisions. These resources may include educational materials, calculators, and FAQs to address common insurance queries. These digital tools can be valuable in helping you navigate your insurance needs effectively.

As you consider Great Western Insurance Company for your insurance needs, exploring their digital and technological features can help you assess how well they align with your preferences for managing your policies and accessing information.

Great Western: What’s the Bottom Line?

Great Western has excellent financial strength and provides various products, but you won’t know much you’ll pay for life insurance or an annuity until you talk to an agent. Some of the best insurance companies can get you a quote in minutes.

Now that you know more about Great Western life insurance, you can enter your ZIP code in the free comparison tool below to compare multiple  life insurance companies in your area.