Great Western Insurance: preneed, guaranteed issue and the funeral home connection

Great Western is known in the industry for preneed products sold through funeral homes and for guaranteed issue final expense, which puts it in a different lane from the mailer-lead carriers.

Guaranteed issue. No health questions, two-year graded structure, capped face amounts. Same fit as any guaranteed issue product: clients who can't qualify elsewhere. Same conversation about the two-year rule.

Preneed. Policies structured to fund a specific funeral home's contract, often sold by licensed funeral home staff or agents working with funeral homes. Different licensing and regulatory rules apply in many states. If you're not appointed for preneed, don't present it as such.

Where agents use it. As the guaranteed issue option in a portfolio, and in markets where the funeral home relationship is part of the sale.

Process. Simple applications, quick issue.

Client conversation. Clients who have already prearranged a funeral may have a Great Western policy. Ask, and read the paperwork. A preneed policy assigned to a funeral home is not the same as a final expense policy paid to a beneficiary, and replacing one with the other has consequences.

Is anyone working the funeral home channel, and how does the licensing differ in your state?