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Great Western Insurance Reviews 2026: Rates, Pros & Cons, and Honest Policy Breakdown
Updated for 2026 • Latest Insurance Updates
In the world of final expense and burial insurance, Great Western Insurance Company is a brand that frequently pops up, particularly for seniors who can’t get traditional life insurance because of age or health problems. Established in 1903, Great Western has developed a strong presence in the guaranteed issue and simplified issue life insurance market.
In this comprehensive Great Western Insurance review for 2026, we are going to talk about how their policies work, what rates you can expect, coverage options and waiting periods, pros and cons as well as compare them against rivals. If you are thinking of buying final expense coverage from Great Western, this review can help you figure out if it’s the right match for your needs.
What Is Great Western Insurance Company?
Great Western Insurance Company focuses on funeral expense life insurance, another term for burial insurance. This insurance is sold to cover “final expenses,” including:
- Funeral and burial costs
- Medical bills
- Credit card debt
- Small personal loans
- Other last responsibilities for family
Great Western is a nationwide provider but appeals to seniors between the ages of 40 and 85 who are looking for permanent coverage with fixed premiums.
Life Insurance Products Available through Great Western
Great Western offers two primary types of whole life insurance:
- Guaranteed Issue Whole Life Insurance:
- No medical exam
- No health questions
- Guaranteed acceptance (ages 40–85)
- Lifetime coverage
- Fixed monthly premiums
- Simplified Issue Whole Life Insurance:
- Limited health questions
- Immediate death benefit
- Lower premiums than guaranteed issue
Great Western Guaranteed Issue Life Insurance: How It Works
Great Western’s guaranteed issue plan comes with a graded death benefit:
- First 2 years: Benefits are paid by returned premiums plus interest (usually 7–10%) unless death is accidental.
- After 2 years: The death benefit is paid out in full for any cause of death.
This is a common waiting period for most guaranteed issue policies.
Great Western Insurance Rates (2026 Projections)
Great Western doesn’t offer public rate charts, but using industry comparisons, here are estimated monthly premiums for a $10,000 guaranteed-issue policy:
| Age | Male | Female |
|---|---|---|
| 50 | $78–$92 | $65–$78 |
| 60 | $105–$120 | $88–$102 |
| 70 | $155–$180 | $130–$155 |
| 80 | $235–$280 | $195–$230 |
| 85 | $295–$350 | $245–$295 |
Great Western Insurance Pros & Cons
Pros
- Guaranteed acceptance for seniors
- No medical exams required
- Lifetime coverage with fixed premiums
- Strong financial history (founded 1903)
- Policies accumulate cash over time
Cons
- 2-year wait on guaranteed issue plans
- Cost: Higher than term or fully underwritten policies
- Lower policy limits than traditional whole life insurance
Great Western vs Competition (2026)
| Company | Acceptance | Waiting Period | Max Coverage | Age Range |
|---|---|---|---|---|
| Great Western | Guaranteed | 2 years | ~$40,000 | 40–85 |
| Mutual of Omaha | Simplified | None | $50,000 | 45–85 |
| AIG | Guaranteed | 2 years | $25,000 | 50–80 |
| Colonial Penn | Guaranteed | 2 years | Varies | 50–85 |
| Gerber | Guaranteed | 2 years | $25,000 | 50–80 |
Who Might Want To Choose Great Western?
- Are between 60–80 years old
- Have health conditions (diabetes, heart disease, COPD, etc.)
- Are looking for lifelong coverage
- Want money set aside for funeral expenses
- Prefer predictable monthly premiums
Who Should Avoid Great Western?
- Are healthy and can get a fully underwritten policy
- Need coverage above $40,000
- Want the lowest possible premium
- Are under 50 and eligible for term life insurance
Financial Strength and Reputation
Great Western Insurance Company has strong financial strength ratings, reflecting reliability and long-term stability. With over 120 years in business, it offers solid security. Customers highlight easy applications, helpful agents, and predictable coverage. Common complaints involve waiting times and higher premiums, which is standard for this type of insurance.
Final Verdict: Is Great Western Insurance Worth It in 2026?
Great Western Insurance is a good option in 2026 for seniors seeking final expense coverage, including those with health issues. While premiums are higher than underwritten policies, guaranteed acceptance and lifetime protection offer peace of mind. If your goal is to cover final expenses without medical exams or complex underwriting, Great Western is definitely worth considering. Healthy applicants should still compare quotes to get the best value.