Preneed Funeral Insurance

You usually don’t grasp how expensive and overwhelming it can be to plan a funeral until you lose a loved one. That’s when you face questions like, “What were my loved one’s wishes?” and “How am I going to pay the funeral expenses?”

It’s then that you realize you want to do things differently. You want to alleviate the financial burden and minimize difficult decisions for your family while they’re grieving. An easy way to do that is with a Preneed Funeral insurance plan.

What is Preneed Funeral insurance?

Preneed insurance is used to fund a funeral service agreement between you and a funeral home. You decide every element you want included in your funeral service, which includes everything from the casket to flowers to transportation for the family. The funeral home director totals the costs, and that amount is the basis for your Preneed insurance plan. You can either pay the amount in one installment or through monthly premiums. Upon your death, the funds are used to pay the funeral home for your funeral.

Why do you need Preneed Funeral Insurance?

Over time, inflation will likely cause funeral costs to increase, but a funeral contract combined with a Preneed insurance plan can offset inflation for the items and services you include in your policy. 
 
Preplanning also allows you time to understand the process and make clear choices that are right for you. You can decide if you want an in-ground burial or cremation, select a casket or urn, and even arrange for items incidental to the ceremony. Best of all, prearranging everything with a funeral home makes the entire process easier for your family. Your wishes are spelled out clearly, so it eliminates all the guesswork. They will not need to wonder what kind of service you wanted or whether you desired a burial or cremation. Every detail will be outlined in advance, so they won’t be overwhelmed with choices while grieving.

How our Preneed Funeral insurance plan stands out

Great Western Insurance Company’s Preneed insurance plans are specifically designed to keep pace with an ever-changing funeral market. Your premiums will never be increased, and your policy will never be discontinued as long as the premiums are paid on time. Your health may dictate which plan you qualify for, but you won’t be denied a policy based upon poor health. We provide two Preneed Funeral insurance plans — Course and Voyage — that offer a variety of payment plans to meet your needs.

The Voyage product is an exclusive plan in the industry. It’s designed to credit a favorable growth rate to the face amount of the policy OR a return of the premiums paid as a death benefit, whichever is higher. You’ll never pay more than what gets returned in a death benefit. This product is offered in Single Pay, One-year, Three-year, Five-year, and Ten-year payment plans. The payment plans are restricted by age, up to age 89. Two simple health questions qualify you for first-day coverage; otherwise, a graded death benefit is available.
 
The Course product is designed to credit a favorable growth rate to the face amount of the policy. The policy premiums for the product are slightly lower than the Voyage product. This plan is offered in Single Pay, One-year, Three-year, Five-year, and Ten-year payment plans. The payment plans are restricted by age, up to age 89. Two simple health questions qualify you for first-day coverage; otherwise, a graded death benefit plan is available. The Course one-year plan is a same-as-cash plan payable over a one-year period.

Both of our Preneed insurance plans offer a free, 30-day look and are transferable to a different funeral home if you move from the area. Most mortuaries or funeral homes are willing to honor the commitments and pricing of the previous funeral home. Your Preneed insurance policy may be irrevocably assigned to preserve the option to obtain government financial assistance in the future. This is dependent on the laws in your state. 

To learn which Preneed Funeral insurance plan is right for you, contact your state’s regional manager in the list below to connect with a Preneed agent in your area.

Photo credit: Aldo Murillo

Find a Preneed Funeral Home Partner

Great Western Insurance Company's preneed regional managers can connect you with a funeral home partner who offers our Preneed Funeral insurance in your state.

Find a Preneed Regional Manager

Our Funeral Expenses Calculator can help estimate your burial and end-of-life expenses and show how those costs could be affected by inflation over time. The data can help you determine whether Final Expense or Preneed Funeral insurance will meet your needs.


Calculate Your Expenses