3 Key Insights Into Great Western Guaranteed Issue Life Insurance

Great Western Insurance Company (GWIC), through their product called Guaranteed Assurance, offers Guaranteed Issue life insurance.

According to Great Western:

Guaranteed Assurance final expense coverage has many benefits with an easy application process. – Great Western Insurance Company

Guaranteed Issue life insurance can make all the sense in the world under specific circumstances. Otherwise, it’s best to explore other life insurance options.

Goal – Review everything you need to know about GWIC’s Guaranteed Issue life insurance in order to decide if it’s a good fit for you.

Table Of Contents

  1. Company History
  2. Guaranteed Assurance
  4. Fine Print
  5. Bottom Line
  6. Apply

Great Western Life Insurance Company Historygreat western

Based out of Ogden, Utah, Great Western Insurance Company was founded in 1983 by John E. Lindquist, a funeral home owner.

 Great Western has been providing funeral home owners and pre-need sales organizations with exceptional service and superior marketing support since 1983.​ – Great Western

Great Western is ranked as a top pre-need (covers the cost of pre-determined funeral expenses) insurance carrier. Their impressive financial strength reflects their high surplus to liability ratio.

great western

Great Western Insurance Company Headquarters, Ogden, UT

Financial Strength Rating: A- (A.M. Best)

Interesting Fact: Founder John E. Lindquist is the owner of Lindquist Mortuaries and Cemeteries, a five-generation family business.

Guaranteed Assurance

To begin, let’s define what Guaranteed Issue life insurance is.

Guaranteed Issue is life insurance issued to an applicant regardless of their health status. In other words, you cannot be turned away from Guaranteed Issue (GI) coverage.

Sound too good to be true?

Here’s the deal – GI should not be your first option. While Guaranteed Issue can be a gift for those who would not qualify for coverage otherwise, we recommend exploring all life insurance options before settling on GI.

Specific to Great Western’s Guaranteed Issue product, Guaranteed Assurance, there are 3 key insights you need to know:

great western

Subject to change.

1. Issue Ages

Great Western Guaranteed Issue is available to applicants between the ages of 40 – 80.

Why this is important – Most GI carriers do not offer coverage until the age of 50. If you are between the ages of 40 – 49, and are in need of GI life insurance, Great Western is an excellent option.

To compare, the other top-rated GI carriers issue ages are:

Note – If you are younger than age 40, there are other life insurance with no physical options to consider.

Also note – If you are a senior, be sure to explore all of your options for no medical exam life insurance for seniors.

2. Face Amount

Your policy size can range from $1,000$40,000.

Guaranteed Issue life insurance policies are always modest in face amount.

However, Great Western’s policy size caps at a higher amount than other top-rated GI carriers. For example, AIG and Gerber’s Guaranteed Issue policies cap at $25,000.

GI policies are ideal for:

  • Funeral expenses
  • End-of-life medical bills
  • Small debts

Keep in mind – If you are need of a larger face amount, consider stacking life insurance policies.

3. No Medical Exam

Guaranteed Issue means you get to skip:

  1. Medical exam – needles, nurses, liquid samples
  2. Health questionnaire (almost always)

Sometimes, the thought of being poked with a needle, or having an invasive experience of working with a paramedical examiner, in cringe-worthy enough to put off purchasing life insurance.

Guaranteed Issue life insurance has a simple process in which you avoid all medical procedures.

In fact, life insurance carriers understand that a good deal of us have no interest in a paramedical exam. There are plenty of no medical exam life insurance options available.


Guaranteed Issue is notoriously expensive for the face amount available. Since GI carriers are taking on substantial risk (just about everyone can buy a GI policy – regardless of health risks), they need to charge accordingly.

Great Western Guaranteed Issue Quotes: Male 40 - 49 Years

40 Year Old$7.58$49.58$96.25$142.92$189.58
41 Year Old$7.67$50.42$97.92$145.42$192.92
42 Year Old$7.83$52.08$101.25$150.42$199.58
43 Year Old$8.00$53.75$104.58$155.42$206.25
44 Year Old$8.08$54.58$106.25$157.92$209.58
45 Year Old$8.17$55.42$107.92$160.42$212.92
46 Year Old$8.25$56.25$109.58$162.92$216.25
47 Year Old$8.33$57.08$111.25$162.92$219.58
48 Year Old$8.50$58.75$114.58$170.42$226.25
49 Year Old$8.50$58.75$114.58$170.42$226.25
Quotes are samples only. Subject to change.

Great Western Guaranteed Issue Quotes: Female 40 - 49 Years

40 Year Old$6.67$40.42$77.62$115.42$152.92
41 Year Old$6.75$41.25$79.58$117.92$156.25
42 Year Old$6.92$42.92$82.92$122.92$162.92
43 Year Old$7.08$44.58$86.25$127.92$169.58
44 Year Old$7.17$45.42$87.92$130.42$172.92
45 Year Old$7.25$46.25$89.58$132.92$176.25
46 Year Old$7.33$47.08$91.25$135.42$179.58
47 Year Old$7.42$47.92$92.92$137.92$182.92
48 Year Old$7.50$48.75$94.58$140.42$186.25
49 Year Old$7.58$49.58$96.25$142.92$189.58
Quotes are samples only. Subject to change.

Great Western Guaranteed Issue Quotes: Male 50 - 59 Years

50 Year Old$8.58$59.58$116.25$172.92$229.58
51 Year Old$8.67$60.42$117.92$175.42$232.92
52 Year Old$8.67$60.42$117.92$175.42$232.92
53 Year Old$8.75$61.25$119.58$177.92$236.25
54 Year Old$8.92$62.92$122.92$182.92$242.92
55 Year Old$9.08$64.58$126.25$187.92$249.58
56 Year Old$9.25$66.25$129.58$192.92$256.25
57 Year Old$9.50$68.25$134.58$200.42$266.25
58 Year Old$9.67$70.42$137.92$205.42$272.92
59 Year Old$9.92$72.92$142.92$212.92$282.92
Quotes are samples only. Subject to change.

Great Western Guaranteed Issue Quotes: Female 50 - 59 Years

50 Year Old$7.58$49.58$96.25$142.92$189.58
51 Year Old$7.67$50.42$97.92$145.42$192.92
52 Year Old$7.83$52.08$101.25$150.42$199.58
53 Year Old$7.92$52.92$102.92$152.92$202.92
54 Year Old$8.08$54.58$106.25$157.92$209.58
55 Year Old$8.25$56.25$109.58$162.92$216.25
56 Year Old$8.50$58.75$114.58$170.42$226.25
57 Year Old$8.67$60.42$117.92$175.42$232.92
58 Year Old$8.83$62.08$121.25$180.42$239.58
59 Year Old$9.00$63.75$124.58$185.42$246.25
Quotes are samples only. Subject to change.

Great Western Guaranteed Issue Quotes: Male 60 - 69 Years

60 Year Old$10.17$75.42$147.92$220.42$292.92
61 Year Old$10.50$78.75$154.58$230.42$306.25
62 Year Old$10.75$81.25$159.58$237.92$316.25
63 Year Old$11.08$84.58$166.25$247.92$329.58
64 Year Old$11.42$87.92$161.52$257.92$342.92
65 Year Old$11.83$92.08$181.25$270.42$359.58
66 Year Old$12.33$97.08$191.25$285.42$379.58
67 Year Old$12.83$102.08$201.25$300.42$399.58
68 Year Old$13.33$107.08$211.25$315.42$419.58
69 Year Old$13.92$112.92$222.92$332.92$442.91
Quotes are samples only. Subject to change.

Great Western Guaranteed Issue Quotes: Female 60 - 69 Years

60 Year Old$9.25$66.25$129.58$192.92$256.25
61 Year Old$9.50$68.75$134.58$200.42$266.25
62 Year Old$9.75$71.25$139.58$207.92$279.25
63 Year Old$10.08$74.58$146.25$217.92$289.58
64 Year Old$10.42$77.92$152.92$227.92$302.92
65 Year Old$10.67$80.42$157.92$235.42$312.92
66 Year Old$11.00$83.75$164.58$245.42$326.25
67 Year Old$11.33$87.08$171.25$255.42$339.58
68 Year Old$11.67$90.42$177.92$265.42$352.92
69 Year Old$12.17$95.42$187.92$280.42$372.92
Quotes are samples only. Subject to change.

Great Western Guaranteed Issue Quotes: Male 70 - 80 Years

70 Year Old$14.58$119.58$236.25$352.92$469.58
71 Year Old$15.33$127.08$251.25$375.42$499.58
72 Year Old$16.17$135.42$267.92$400.42$532.91
73 Year Old$17.08$144.58$286.25$427.91$569.58
74 Year Old$17.75$151.25$299.58$447.91$596.25
75 Year Old$18.50$158.75$314.58$470.41$626.25
76 Year Old$19.33$167.08$324.87$495.41$659.58
77 Year Old$20.25$176.25$349.58$522.91$696.25
78 Year Old$21.25$186.25$369.58$552.91$736.25
79 Year Old$23.08$204.58$406.25$607.91$809.58
80 Year Old$25.42$227.92$452.91$677.91$902.91
Quotes are samples only. Subject to change.

Great Western Guaranteed Issue Quotes: Female 70 - 80 Years

70 Year Old$12.83$102.08$201.25$300.42$399.58
71 Year Old$13.58$109.58$216.25$322.92$429.58
72 Year Old$14.50$118.75$234.58$350.42$466.25
73 Year Old$15.42$127.92$252.92$377.92$502.91
74 Year Old$15.92$132.92$262.92$392.92$522.91
75 Year Old$16.50$138.75$274.58$410.42$546.25
76 Year Old$17.17$145.42$287.92$430.41$572.91
77 Year Old$17.92$152.92$302.92$452.91$602.91
78 Year Old$18.75$161.25$319.58$477.91$636.25
79 Year Old$20.17$175.42$347.92$520.41$692.91
80 Year Old$21.67$190.42$377.92$565.41$752.91
Quotes are samples only. Subject to change.

Fine Print

You’ll want to pay attention to the specifics of Great Western’s Guaranteed Assurance product:

Great Western offers two GI products

  1. Guaranteed Assurance offers coverage regardless of your health with zero underwriting.
    • You are not required to answer any health questions.
  2. Assurance Plus is a unique product that offers day-one coverage and pays 125% of your selected full face amount whenever death occurs.
    • Coverage is based on a few (simple) health questions.

Built-in Riders

Spousal Bonus Rider

A first-to-die rider that pays an additional $1,000 on the first death of both spouses who apply for a policy at the same time.

  • Minimum of $10,000 face amount must be purchased on each spouse in order to qualify.
  • Death cannot be during the graded period of the Guaranteed Assurance plan.
  • Both policies must be in force at the time of first death.

Accelerated Death Benefit Rider

Included on the Assurance Plus plan at no additional cost.

  • Pays present value of death benefit if you are diagnosed with a terminal illness have 12 months or less to live.
  • Or, if you have been diagnosed with needing assistance with at least two Activities of Daily Living.

Dependent Child and Grandchild Rider

For $1/month, $2,500 will be paid on the first death of a dependent child or grandchild.

  • Graded Benefits – for the Guaranteed Assurance product, your death benefit is graded for the first two years.
    • Should death occur during the first two years of your policy, premium payments are returned, plus 10% interest.
  • Your coverage builds tax-deferred cash value over time that can be borrowed against.
  • Free look period: 30 days.

Bottom Line

Guaranteed Issue life insurance makes sense in a few situations:

  1. You are unable to secure life insurance otherwise.
  2. You are in need of a modest policy that will coverage end of life expenses, medical bills or a small amount of debt.
  3. You are not in good health.

Specifically, Great Western Guaranteed Assurance might make sense if:

  1. You definitely need Guaranteed Issue life insurance.
  2. You are between the ages of 40 – 49 OR
  3. You need a GI policy between $30,000 – $40,000.
  4. Note – while not purchased often, Great Western also offers small GI policies between $1,000 – $4,000 (most GI carriers start at $5,000).

How To Apply

There are two things you need to do in order to secure the best policy, Guaranteed Issue or otherwise, you qualify for:

  1. Work with an independent agent – an independent agent will work on your behalf to explore all of your life insurance options to verify that GI is the best fit. Independent agents are not held captive to a particular carrier, like Great Western, and will shop the top companies to find multiple quotes.
  2. Prepare for your application – life insurance applications are processed fastest when they are complete at the time of submission. Be ready by having important information ready to communicate: full name, date of birth, address, social security number, and beneficiary information.

To get started, simply fill out our free instant quote.