Is Great Western Life Insurance Good for Insulin Dependent Diabetics?

Great Western Insurance Company (GWIC) is an excellent choice for insulin-dependent diabetics, specifically those who have been denied traditional coverage or have complications. Because Great Western specializes in guaranteed-issue life insurance, they do not require medical exams or health questions for their primary products, ensuring coverage regardless of insulin usage or A1C levels.

For individuals living with diabetes, securing life insurance has historically been a complex journey through medical records, blood tests, and rigorous underwriting. As of 2026, while medical technology like continuous glucose monitors (CGMs) has made traditional underwriting more accessible for some, many insulin-dependent diabetics still face high premiums or outright rejections from "standard" carriers. This is where Great Western Insurance Company, a subsidiary of American Enterprise Group, Inc., carves out its vital niche.

This article examines why Great Western is often the "safety net" for the diabetic community, the technical mechanics of their policies, and how to determine if their products align with your financial goals in 2026.

The Underwriting Landscape for Diabetics in 2026

To understand why Great Western is "good" for insulin-dependent diabetics, one must first understand how the broader insurance industry views the condition. Life insurance underwriting is essentially an exercise in mortality projection. Diabetics, particularly those who are insulin-dependent, are viewed as higher-risk because of the potential for long-term complications such as nephropathy, neuropathy, retinopathy, and cardiovascular disease.

In 2026, most "fully underwritten" insurance companies look at several key factors for diabetics:

• Age of Onset: Being diagnosed at age 10 (Type 1) is viewed differently than being diagnosed at age 50 (Type 2).
• A1C Levels: Carriers typically look for a stable A1C, usually below 7.0 or 7.5, over the last 12 to 24 months.
• Insulin Dosage: The amount of insulin units required daily can influence the "rating" or price of the policy.
• Complications: Any sign of kidney issues or numbness in the extremities can lead to an automatic decline from traditional term or whole life providers.

Great Western bypasses these hurdles by offering products that prioritize accessibility over selectivity.

Great Western’s Core Offerings for Diabetics

Great Western primarily operates in the "Final Expense" and "Pre-need" markets. For an insulin-dependent diabetic, two specific products are most relevant: Guaranteed Assurance and Great Assurance.

1. Guaranteed Assurance (Guaranteed Issue)

This is the flagship product for those who cannot qualify elsewhere. The "guaranteed" nature of this policy means that as long as you meet the age requirements (typically 40 to 80), you cannot be turned down for health reasons.

• No Medical Exam: You do not need to provide blood samples or urine.
• No Health Questions: The application does not ask about your diabetes, your insulin usage, or your A1C.
• Technical Limitation (The Graded Benefit): This is a critical technical detail. If the insured passes away from natural causes (including diabetes complications) within the first two years of the policy, the beneficiary does not receive the full face value. Instead, they receive a refund of all premiums paid plus a set interest rate (historically 10%). After the two-year mark, the full death benefit is active.

2. Great Assurance (Simplified Issue)

This product is a step up for diabetics whose condition is well-managed. It involves a few "Yes/No" health questions but still avoids the medical exam.

• Lower Premiums: Because the company takes on slightly less risk than the Guaranteed Assurance plan, the monthly costs are lower.
• Immediate Coverage: Unlike the guaranteed issue version, this plan often provides full "Day 1" coverage if you can answer "No" to specific health questions.
• Diabetic Specifics: Most simplified issue questions focus on whether you have had "amputations due to disease" or if you are currently "hospitalized or in a nursing home." Many insulin-dependent diabetics can qualify for this level of coverage if they do not have severe secondary complications.

Why Great Western Is "Good" for This Demographic

The "goodness" of an insurance policy is relative to the alternatives available to the applicant. For an insulin-dependent diabetic, Great Western offers three primary advantages:

Certainty of Acceptance

The psychological and financial stress of being declined for life insurance is significant. Great Western removes this barrier. For a Type 1 diabetic who has struggled with fluctuating glucose levels or someone with Type 2 who started insulin early, the "Guaranteed Assurance" product provides a guaranteed path to leaving a legacy for funeral costs or small debts.

Simplified Application Process

Traditional life insurance applications can take 4 to 8 weeks to process as underwriters request physician statements (APS). In 2026, Great Western’s digital-first application process allows for near-instant approval. This is particularly beneficial for seniors who want to finalize their estate planning without the burden of multiple doctor visits.

Fixed Premiums and Cash Value

All of Great Western’s primary life products are Whole Life Insurance. This means the premiums are "level"—they will never increase regardless of how your diabetes progresses or how the economy fluctuates. Additionally, these policies build a small amount of cash value over time, which can be accessed via a loan if an emergency arises.

Comparing Great Western to Market Alternatives

To decide if Great Western is the right fit, it helps to see how it stacks up against other types of policies an insulin-dependent diabetic might consider in 2026.

Technical Considerations: The Graded Death Benefit

One of the most misunderstood aspects of Great Western’s "Guaranteed Assurance" is the Graded Death Benefit. For a diabetic, this is a calculated risk.

If you are an insulin-dependent diabetic in relatively good health (no heart disease or kidney failure), you might feel frustrated by a 2-year waiting period. However, for the insurance company, this is the only way they can afford to insure someone without asking a single health question. They must protect themselves against "adverse selection," where someone with a terminal diagnosis buys a policy and passes away a month later.

In 2026, Great Western's 10% interest on premium refunds during the graded period remains one of the more competitive "fail-safes" in the industry. It ensures that even if the insured dies during the waiting period, the family is not only reimbursed for the cost of the policy but receives a small gain, which is better than most standard savings accounts.

Potential Drawbacks for Diabetics

While Great Western is a strong option, it is not the "best" option for every diabetic.

1. Cost per Thousand: Because the risk is higher for the insurer, the premium for every $1,000 of coverage is significantly higher than a term life policy. If you are 35 years old and an insulin-dependent diabetic with perfect A1C, you should first try to qualify for a "rated" term policy with a carrier like Prudential or John Hancock, as they have specialized programs for diabetics.
2. Low Face Amounts: Great Western focuses on final expenses. If you need $500,000 to cover a mortgage and replace your salary for your children, Great Western cannot meet that need. Their policies usually cap out at $40,000.
3. The Waiting Period: As mentioned, the 2-year wait for full coverage is a drawback for those who may be able to qualify for "Day 1" coverage elsewhere through a slightly more rigorous "Simplified Issue" carrier.

How to Apply: A Step-by-Step Guide for 2026

If you have decided that Great Western’s ease of access outweighs the higher cost and waiting period, the application process is straightforward.

1. Determine Your Need: Calculate your final expenses. In 2026, the average funeral and burial cost ranges between $12,000 and $18,000 depending on your region. Adding a "buffer" for medical bills is wise.
2. Locate an Agent or Use the Portal: Great Western sells primarily through independent agents who specialize in final expense insurance. You can also find information on the Great Western (American Enterprise) website.
3. Choose Your Plan: If you have zero complications, ask your agent if you can qualify for "Great Assurance" (Simplified Issue) to get Day 1 coverage. If you have any complications (neuropathy, etc.), go straight to "Guaranteed Assurance."
4. Designate Beneficiaries: Ensure you have the Social Security numbers and contact information for your beneficiaries.
5. Setting Up Payments: Most final expense carriers require Electronic Funds Transfer (EFT) from a checking or savings account.

Frequently Asked Questions

Does Great Western require an A1C test?

No. Great Western’s Guaranteed Assurance plan does not require any medical tests, including A1C or glucose checks. Approval is based solely on your age and your ability to pay the premium.

Can I get more than $40,000 in coverage?

Generally, no. Great Western specializes in "small-bore" whole life insurance. Their products are designed to cover the immediate costs associated with death rather than long-term income replacement. If you need more coverage, you may need to "stack" policies from multiple carriers.

What happens if I stop taking insulin after I get the policy?

Your policy is a contract based on your status at the time of application (or, in the case of guaranteed issue, simply your age). If your health improves and you no longer require insulin, your coverage remains exactly the same, and your premiums will not decrease. However, you might then qualify for a cheaper policy with a different company.

Is Great Western available in all states?

Great Western is widely available across the United States, but specific product availability can vary by state due to local insurance regulations. It is always best to check with a licensed agent in your specific jurisdiction for the 2026 filings.

How does the "10% interest" work if I die in the first two years?

If an insured person dies in month 18 of the policy from a heart attack, the beneficiary will receive the total amount of premiums paid over those 18 months, plus an additional 10% of that total. It is important to note that accidental deaths (like a car accident) are typically covered for the full face value from Day 1, even on guaranteed issue plans.

Practical Recommendation

If you are an insulin-dependent diabetic looking for life insurance in 2026, your first step should be a "pre-qualification" talk with an independent broker. If your A1C is under 8.0 and you have no other major health issues, you should attempt to find a Simplified Issue policy that offers "Day 1" coverage.

However, if you have been declined by other carriers, or if you have complications like diabetic neuropathy or kidney stage 1-2, Great Western’s Guaranteed Assurance is a premier choice. It provides the peace of mind that comes with knowing your funeral costs are covered, without the stress of a medical exam that you might not pass. For the diabetic community, Great Western represents a reliable, "no-questions-asked" path to financial dignity.