Greek Catholic Union Life Insurance Review and Ratings (2022)
Greek Catholic Union life insurance has an A+ rating from the Better Business Bureau. With virtually no complaints to be found, it’s easy to see why the Greek Catholic Union earned that rating. The Greek Catholic Union offers term and whole life insurance plans to protect your family’s future.
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UPDATED: Jun 28, 2022
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- Greek Catholic Union offers term and whole life plans in a variety of options
- As a fraternal, not-for-profit organization, the Greek Catholic Union is committed to its community and members
- Membership comes with a long list of benefits, including prescriptions benefits, scholarships, and student debt help
The Greek Catholic Union (GCU) life insurance company was formed over 100 years ago to protect workers in dangerous jobs and their families. GCU continues that tradition today, though they insure far more than the original 743 members.
Life insurance is a vital asset to help support your family after your death. Some life insurance companies offer huge lists of insurance products and keep an impersonal distance from their customers. The Greek Catholic Union company considers members more of a community rather than customers. The GCU motto is, “Protecting families, promoting faith and fraternalism, strengthening communities.” The Greek Catholic Union strives to reach each of those goals through a variety of programs.
While the GCU set out to provide life insurance options, it’s expanded to financial services, including retirement funds, college savings, annuities, and family planning.
If you’re looking for life insurance, affordable Greek Catholic Union quotes might be the best option for you. If you’re ready to see what quotes might look like for you, enter your ZIP code into our free tool today.
What types of life insurance does Greek Catholic Union sell?
The Greek Catholic Union sells two types of life insurance: Whole and term.
Term life is the most commonly bought insurance policy because it’s affordable and offers the type of coverage people are looking for. Term life lasts for a predetermined period, usually between 10 and 30 years. It’s perfect for people who want financial protection for their beneficiaries now but won’t need it later. Parents with young kids and people with unpaid debt are prime candidates for term life.
Whole life, on the other hand, does what its name suggests. Since it covers you for the rest of your life, prices tend to be much more expensive. On the plus side, you never have to worry about passing a medical exam in the future if you purchase your plan when you’re younger.
GCU offers several products to choose from, whether you’d like whole or term life.
Term Life Insurance From Greek Catholic Union
Greek Catholic Union suggests its Term Advantage Series plans for people in the following situations:
- Recently married
- Seeking to pay off their homes
- The recent or anticipated arrival of a new baby
- Recently graduated
They also suggest getting term life for as long as you expect your dependents will rely on your income. That can apply to spouses, kids before they go to college, and any other dependents. GCU’s term life plan starts at $100,000 in coverage with rates that stay the same throughout the entire policy. You can buy life coverage in 10, 20, or 30-year terms. At the end of your policy, you’ll have the option to convert your plan to a permanent one.
GCU’s term life options have age restrictions. For example, you need to be at least 18 to get the 10-year plan, which has a minimum value of $25,000. 20-year-olds can buy 20 and 30-year term plans. You can buy a 20-year term plan until the age of 80. For a 30-year term, anyone under the age of 70 can buy one.
There are age restrictions on minimum coverage for 20 or 30-year term plans as well. Anyone under 50 must have at least $100,000. From 51 to 65, you need $50,000, and anyone older than 65 starts at $25,000.
Whole Life Insurance From Greek Catholic Union
The Greek Catholic Union offers four different whole life plans: Legacy Protector, Legacy Advantage 20, Legacy Advantage, and Irrevocable Burial Trust.
The Legacy Protector plan requires one payment. After that, you don’t have to worry about continued payments. You can buy Legacy Protector from ages 0 to 85, and GCU suggests it’s an excellent plan to gift to children or grandchildren. The maximum premium you can select with this plan is $150,000.
Legacy Advantage 20 is one of GCU’s more popular whole life plans because you only pay for 20 years. After 20 years have passed, you own the paid-up policy. However, the cash value on your policy continues to grow, even after you’ve reached the 20-year mark. The Legacy Advantage 20 plan accumulates cash value quicker than traditional life insurance plans. For this reason, rates can be higher. You can purchase a 20-year plan starting at $5,000 in coverage.
Legacy Advantage is GCU’s traditional life insurance plan. Monthly payments are smaller but you have to pay throughout your life.
Finally, the Irrevocable Burial Trust allows you to pay for your funeral costs before your death. You set aside an amount of money that can’t be surrendered, dissolved, or reversed by anyone. GCU is very serious about protecting your funeral wishes. You can only buy Irrevocable Burial Trust if you have a whole life policy, but it is not available in Michigan or West Virginia. If you’re concerned about availability in your location, you can call the Greek Catholic Union insurance provider phone number to learn more. This plan is not considered an asset by Medicaid.
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Greek Catholic Union Membership
As a fraternal organization, you become a member when you buy a GCU product. To be considered a member, you need either a life insurance policy or an annuity with at least $300 in it.
When you purchase a product from GCU, you gain access to the following benefits:
- GCU Scholarship Program. GCU offers a scholarship opportunity for high school seniors, college students, and youth bowlers.
- GoGive! This program will help you plan a fundraising or community service event and will match donations up to $100.
- Perkspot Discounts. Enjoy thousands of discounts from a variety of organizations.
- Start Hearing, Inc. This program offers discounts on hearing aids.
- RXCut card. You can save up to 75% on your prescriptions regardless of your health insurance status.
As you can see, GCU is very dedicated to treating its members like a community and not as customers. To see a full list of benefits you’re eligible for, use the Greek Catholic Union login. Make sure to use the member login and not the Greek Catholic Union insurance provider portal located nearby on the webpage.
The Greek Catholic Union also sells Medicare Advantage plans, though they are a very small part of their financial services. If you’re interested in health insurance, try the Greek Catholic Union provider portal for more information.
Greek Catholic Union Life Insurance Reviews
As a fraternal, not-for-profit company, Greek Catholic Union customers do not have the same complaints that other, more prominent insurance companies get. In fact, there’s not much of anything negative to be said by customers online.
As for professional ratings, Greek Catholic Union earns an A+ from the Better Business Bureau (though it is not an accredited business). Greek Catholic Union is a small life insurance company, though – they did not make J.D. Power’s top life insurance companies of 2020 list.
Find Greek Catholic Union Life Insurance Rates That Work for You
Life insurance is an investment in your family’s future and one that you’ll pay into for a long time. It’s integral to find the right company for your needs. Greek Catholic Union offers a wide selection of insurance options that work for most customers and a long list of member benefits.
If you’re interested in Greek Catholic Union life insurance rates, you should start by shopping around to find the best rates possible. If you’re ready to see what quotes might look like for you, enter your ZIP code into our free tool today.