Preneed

Preneed Insurance, similar to Final Expense Insurance, involves a mutual agreement between an individual and a funeral home. You’re essentially pre-planning any final expenses and customizing the experience for any beneficiaries, further reducing any stress that an untimely circumstance may cause

Riders

Riders exist to customize coverage options, or by adding to existing coverage plans One may think of these as ‘add-ons’ to your existing coverage Rider applicant status depends on factors similar to those asked in the medical questionnaire. If accepted and qualified for riders, your policy may be customized based on your needs. Some common examples of riders include Child Term Riders, Accidental Death Riders, Family Income Riders, and so on. The two most commonly available riders offered by Great Western Insurance are as follows:

● Dependent Child/Grandchild

This is a clause stating that you will receive a one-time lump sum in the case of untimely circumstances with a child/grandchild/dependent.

● Accelerated Death Benefit

An accelerated death and dismemberment benefit (also known as AD&D) is a clause one may apply to your current policy, what this does is allow for you to use coverage values while still alive if diagnosed with a terminal illness.