Great Southern Life Insurance Company (TX), operates as a subsidiary of Americo Life, Inc. and is based in Kansas City, Missouri.
GSL’s product range encompasses a variety of life insurance options, which include term life, whole life, universal life, and Medicare supplement plans.
Locations and Contacts
GSL is licensed to do business in all 50 states and the District of Columbia. The company’s corporate headquarters is located at:
| Contact Address | Phone Number |
|---|---|
| 2800 N. Classen Blvd. Oklahoma City, OK 73106 | 1-800-231-0801 |
Great Southern Life Insurance Company Coverage Details
Term Life Insurance:
Term life insurance provides coverage for a specific period, typically 10, 20, or 30 years.
The death benefit is paid to the beneficiary if the policyholder passes away during the term.
This option is cost-effective and ideal for those needing coverage for a specific duration, like safeguarding their family’s financial future during their children’s youth or paying off a mortgage.
Whole Life Insurance:
Whole life insurance offers lifelong coverage if premiums are consistently paid.
It accumulates cash value over time, which can be accessed through loans or withdrawals for various purposes.
Although pricier than term life insurance, it suits those seeking lifelong coverage or wanting to utilize the cash value.
Universal Life Insurance:
Universal life insurance provides premium and death benefit flexibility.
Policyholders can opt for higher premiums for faster cash value growth or lower premiums with a reduced death benefit.
These policies are more intricate, requiring a thorough understanding of features and benefits.
Medicare Supplement Plans:
Medicare supplement plans (Medigap) fill gaps in Medicare coverage, covering deductibles, copays, coinsurance, and more.
They extend to expenses like foreign travel emergencies and prescription drugs for Medicare Part A and Part B enrollees.
Additional GSL Life Insurance Products and Services:
- Riders: Optional add-ons that enhance coverage, such as accidental death and dismemberment riders, waiver of premium riders, and child riders.
- Group Life Insurance: Provided through employers and organizations, offering affordable life insurance coverage.
- Annuities: Financial products ensuring guaranteed income during retirement.
Great Southern Life Insurance Company Claims
GSL boasts a robust claims satisfaction rating of 95%, demonstrating a high level of customer satisfaction with their claims handling.
This reflects the company’s dedication to ensuring a positive claims experience.
One key factor contributing to this high rating is GSL’s swift and efficient claims process.
Claims are typically settled within 10 business days of receiving all necessary documentation.
A significantly faster turnaround compared to the industry average of 30-60 days.
Step-by-Step Overview of GSL’s Claims Process:
- Initiate a claim by filing online or contacting the customer service department.
- Furnish GSL with the required documentation, including the policyholder’s death certificate and medical records.
- GSL will assess the claim and reach a decision.
- Upon approval, GSL promptly disburses the death benefit to the beneficiary within 10 business days.
- GSL extends various resources to assist customers in filing and managing their claims, including:
- A dedicated claims website featuring comprehensive information on the claims process and downloadable, electronically fillable forms.
- A 24/7 accessible claims hotline.
- A team of claims specialists ready to guide customers through the claims procedure and address any inquiries.
Great Southern Life Insurance Company Financial Details
- GSL holds an A.M. Best rating of A+ (Superior), signifying robust financial strength and the ability to meet policyholder obligations.
- A.M. Best, a top credit rating agency, assesses insurance companies‘ financial soundness.
Key Factors Supporting GSL’s Strong Financial Performance:
- Diversified Product Portfolio: GSL offers a broad spectrum of life insurance products, reducing the company’s risk exposure to any single product line.
- Strong Underwriting Practices: GSL employs stringent underwriting procedures to select healthy and insurable risks, thus managing claims costs effectively.
- Ample Capital Reserves: GSL maintains substantial capital reserves, providing a financial cushion to absorb unexpected losses.
- Overall, GSL’s financial details underscore the company’s financial soundness and stability, assuring policyholders of its capability to meet financial commitments.
Key Financial Metrics:
- Total Assets: $16.5 billion
- Policy Reserves: $12.7 billion
- Capital and Surplus: $3.8 billion
- A.M. Best Rating: A+ (Superior)
- While GSL’s financial performance may experience fluctuations over time, its consistent track record of financial stability positions it well to weather any financial challenges that may arise.
Eric White
CURRENTLY
Content Writer, Insurance Insights
RESIDES IN
Texas
EDUCATION
University of Texas
EXPERTISE
Insurance Writing, Risk Management, Claims Assessment, Customer Education
Summary
Eric White, a proficient Content Writer at Insurance Insights, brings a unique perspective to the insurance industry. With a solid foundation in insurance writing, risk management, claims assessment, and customer education, Eric plays a pivotal role in creating insightful and accessible content.
Having spent years exclusively writing for TripAdvisor, Eric possesses a deep understanding of how to communicate complex insurance concepts to a broad audience. His focus on customer education ensures that insurance information is not only accurate but also easily understandable for everyone.
Experience
Eric’s professional journey revolves around his commitment to the insurance sector. As the sole content contributor for TripAdvisor, he has successfully translated intricate insurance details into engaging and comprehensible content.
Based in Texas, Eric contributes significantly to Insurance Insights, leveraging his expertise to provide valuable insights into the world of insurance. His dedication to making insurance-related topics accessible sets him apart in the industry.
Education
Eric White earned his educational credentials from the University of Texas, where he honed his skills and gained in-depth knowledge of insurance writing, risk management, and claims assessment. His commitment to staying at the forefront of industry trends ensures that he continues to be a valuable asset to the insurance field.
Eric has won various awards like
- Insurance Insight Pioneer Award:
- Acknowledging Eric’s groundbreaking work in transforming insurance writing and making it accessible to a wider audience.
- Customer Education Excellence:
- Recognizing Eric’s dedication to educating customers about insurance concepts, contributing to a more informed audience.
- Risk Management Luminary:
- For Eric’s outstanding contributions in the field of risk management, ensuring a comprehensive understanding of potential insurance risks.