Great Western vs. Oxford: Top Life Insurance in 2024
Great Western and Oxford provide life insurance products for customers that primarily focus on final expenses. While the two companies have been rated equally by A.M. Best, Oxford offers significantly lower rates. The products offered are similar but Great Western offers a policy specifically for those in poor health as well as pre-need insurance. Comparing Great Western vs. Oxford will help you find the right life insurance provider to fit your needs.
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
UPDATED: Nov 4, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Nov 4, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Oxford rates are lower than Great Western
- Great Western offers policies for poor health and pre-need insurance
- Great Western and Oxford are rated equally by A.M. Best
Great Western and Oxford offer multiple permanent life insurance quotes that are designed to help with final expenses. Comparing Great Western vs. Oxford life insurance shows that Oxford has lower monthly rates and the companies have the same financial ratings by A.M. Best.
Before comparing Great Western vs. Oxford, enter your ZIP code to find the best life insurance quotes in your area.
Great Western vs. Oxford: What are their monthly rates?
Comparing Great Western vs. Oxford life insurance rates will help you decide between these two providers. The following charts show Oxford and Great Western rates for a $10,000 whole life policy based on age and gender.
The first shows how these rates stack up for males.
Great Western vs. Oxford: Male Whole Life Average $10,000 Policy Monthly Rates by Age
| Age | Great Western Average Monthly Rates | Oxford Average Monthly Rates |
|---|---|---|
| Age 50 | $58.00 | $24.51 |
| Age 60 | $71.25 | $39.90 |
| Age 70 | $109.58 | $68.43 |
The following chart shows the same information for females.
Great Western vs. Oxford: Female Whole Life Average $10,000 Policy Monthly Rates by Age
| Age | Great Western Average Monthly Rates | Oxford Average Monthly Rates |
|---|---|---|
| Age 50 | $48.10 | $20.54 |
| Age 60 | $61.25 | $32.32 |
| Age 70 | $92.08 | $52.12 |
As you can see, Oxford offers significantly lower rates than Great Western, and rates are lower for women than for men.
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Great Western vs. Oxford: What policies are available?
Great Western and Oxford focus their policies on whole life plans designed to help with final expenses. Neither company offers term life insurance quotes. Comparing the specifics of these policies will help you decide which provider is right for you.
Great Western has two whole life options that are both designed for final expenses. The difference between the two policies depends on the health of the policyholder at the time of purchase.
The Assurance Plus plan is for those in good health. Customers that answer medical questions and are willing to provide funds for medical expenses can receive a 25% increase on their death benefit. The simple underwriting process allows for a quick approval.
The Guaranteed Assurance plan is for those that don’t qualify for the Assurance Plus plan, usually because of their medical history. There is no underwriting so any customer can receive approval. However, the increased risk means that premiums for this plan will be higher than the Assurance Plus plan.
Great Western also provides pre-need insurance, which allows a policyholder to plan and pay for their funeral and burial before death. The death benefit will go directly to the funeral home of choice, ensuring that nothing needs to be done by loved ones.
Oxford offers three different life insurance policies, all of which are for customers 50 years and older. Two of these policies are designed for final expenses and one assists inheritance. Customers don’t need to complete a medical exam but will be asked to fill out a medical questionnaire.
The Assurance and Assurance One policies are designed for final expenses and coverage ranges from $5,000 to $30,000. The main difference between the two policies is that the Assurance plan features a level premium that can be paid monthly or annually, while the Assurance One plan is a single-premium policy.
The Prosperity Select plan is a premium life insurance policy, allowing the policyholder to leave money to loved ones with minimal tax liability. Available for those 50 to 85 years of age, coverage ranges from $5,000 to $30,000. The rates are determined by the age of the policyholder at the time of purchase.
Great Western vs. Oxford: What riders are offered?
Life insurance providers commonly offer options that can be added to a policy. Known as riders, these options allow a policyholder to customize their life insurance to fit their needs. Great Western and Oxford offer multiple optional riders.
Optional riders offered by Great Western include:
- Accelerated death benefit
- Dependent child or grandchild
- Special bonus
Optional riders offered by Oxford include:
- Terminal illness rider
- Chronic illness rider
- Nursing home rider
- Common carrier rider
While Great Western and Oxford offer numerous riders, there are fewer selections than some of their competitors.
Great Western vs. Oxford: What are their financial ratings?
Life insurance companies are given financial ratings by trusted credit rating agencies, such as A.M. Best. These ratings determine the likelihood that a provider has the financial strength to provide a payout when a claim is filed.
Great Western and Oxford have both been rated an “A” by A.M. Best. The credit rating agency describes this rating as “excellent” and says that the companies shouldn’t have any trouble providing a payout when a claim is filed.
Read more:
- Great Western vs. Sentinel Security: Top Life Insurance
- Great Western vs. United Home Life: Top Life Insurance
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Great Western vs. Oxford: Company Background
The Great Western Insurance Company was founded in 1983 by the owners of Lindquist Mortuaries & Cemeteries in Ogden, UT. The company remained family-owned until 2018 when it was bought by the American Enterprise Group.
The Oxford Life Insurance Company was founded in 1965 in Phoenix, AZ. Similar to Great Western, the purpose was to provide final expense insurance. Today, the company is a subsidiary of the North American Insurance Company and the Christian Fidelity Life Insurance Company.
Great Western vs. Oxford: The Bottom Line
Great Western and Oxford focus on final expense insurance so the policies offered are limited. Oxford does offer significantly lower rates but Great Western has good options for those in poor health. Comparing affordable Great Western vs. Oxford life insurance quotes will help you decide between these two providers.
Now that you’ve compared Great Western vs. Oxford, enter your ZIP code to discover the rates of the best life insurance companies in your area.
Great Western vs. Oxford: Frequently Asked Questions
Here are some frequently asked questions about Great Western and Oxford.
#1 – Is Great Western life insurance involved with Great Western Bank?
The Great Western Insurance Company is a different organization than Great Western Bank.
#2 – Can I buy Oxford Health Plans through the Oxford Life Insurance Company?
The Oxford Life Insurance Company does not offer UnitedHealthCare Oxford Health Plans.
#3 – Can I buy Great Western vs. Oxford life insurance online?
Great Western and Oxford require customers to contact an agent to purchase a life insurance policy.
Your one-stop online guide for life insurance quotes. Get free quotes now!
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.