To review the application health questions for yourself, you can download a sample final expense application here.

Guaranteed Assurance

Guaranteed Assurance is Great Western’s guaranteed acceptance final expense product.

Your client can answer all the health questions below “yes” and still be considered for the Guaranteed Assurance product, as long as your client is not incarcerated, has ties to terrorism, money laundering, or other illegal activities.

With Great Western’s Guaranteed Assurance coverage, your client receives 110% of the premiums paid in if death occurs from natural causes within the first 2 years of the policy.

After 2 years, the policy pays the full death benefit for natural causes. At any point your client passes away from accidental death, the policy pays full benefits.

Guaranteed Assurance is extremely useful if you commonly run into tough-to-underwrite health conditions in the field.

As a final expense producer, I have used Great Western for years for my clients needing guaranteed issue coverage.

The client’s health condition doesn’t matter; everyone is approved.

Assurance Plus Health Questions

In order to be considered for the Assurance Plus level plan, your client must answer all the questions below with a “no.”

If your client qualifies for the Assurance Plus plan, Great Western increases the death benefit 125% from day 1.

This means if you applied for a $10,000 plan, your client’s actual death benefit is $12,500.

1) In the last two years, has the applicant been a patient in hospice, a hospital, or a nursing home for five or more days?

2) Is the applicant unable to independently perform routine activities such as bathing, dressing, eating, toileting, or transferring to or from a bed or chair?

3) In the last two years, has the applicant been diagnosed with, been prescribed medication for or treated by a healthcare provider for any of the following diseases: Cancer (other than basal cell carcinoma), Tumor, Insulin-Dependent Diabetes, Human Immunodeficiency Virus (HIV), Acquired Immune Deficiency Syndrome (AIDS), or Acquired Immune Deficiency Syndrome-Related Complex (ARC), or any Disorder of the Blood, Kidney, Lung, Brain, Heart, Circulatory System, or Liver? For Prescriptions: Please do not mark “Yes” if the prescription(s) is a maintenance medication and has remained the same (or the generic equivalent) at the same or at a decreased dosage for the past two years. For Treatment: Please do not mark “Yes” if your visit(s) with your healthcare provider in the last two years was a routine review of your maintenance medication and no additional treatment was given or diagnosis was made during your visit(s).

Understanding The Level Benefit’s Health Questions More Clearly

While one of Great Western’s final expense product benefits is its relatively shorter look-back period, I want to ensure you further understand how Underwriting looks at “treatment,” and how prescriptions are treated, either as “treatment” or “maintenance medications.”

Defining “Treatment”

Applicants are required to select “Yes” on the application if the proposed insured has consulted or received any treatment for any Disqualifying Condition in the last two years (scroll down a few paragraphs to see the entire list).