2024 Greek Catholic Union Burial Insurance Review

Are you wondering if Greek Catholic Union (GCU) is the right company with the right products for you? Well, then you are in the right place.

This review will be as detailed as possible no stone will be left unturned. We are going to cover the pros and the cons of this company and their coverage to help you make a properly informed decision to protect your family from your final expenses.

The best part is that Greek Catholic Union is one of the best burial insurance companies in the USA. They are highly rated and recommended however there are cons that do not make them suitable for everyone which is what is going to be addressed in this article.

“There is no single perfect burial insurance company for everyone. They all have underwriting niches so the real question is what is the perfect carrier for your health profile?”

With that being said let’s jump into it.

Greek Catholic Union of the USA Background

GCU is the oldest fraternal benefit society in the United States.

• Founded 1892
• Headquarters: Pennsylvania
• Phone number: 855-306-0607
• Website: https://gcuusa.com/

According to Wikipedia:

They were founded as the Greek Catholic Union of Rusyn Brotherhoods in the USA. They were formed by fourteen independent Greek Catholic lodges. They had a close relationship with the Greek Catholic Church historically.

GCU currently has assets of over 1 billion. They currently have an A+ rating with the Better Business Bureau.

With such a long track record and a high amount of assets, it’s safe to say the Greek Catholic Union will not have a hard time paying claims for their clients. They have an excellent proven track record.

This is essential when vetting an insurance carrier. You want to make sure they have a track record like GCU. If they have an A+ rating and an excellent track record that is the kind of company to do business with.

Here at ParamountQuote all of our carriers are A+ rated.

GCU Life Insurance Products

Greek Catholic Union has 3 whole life insurance products for final expense.

• Eternal Advantage Preferred
• Eternal Advantage Standard
• Eternal Advantage Modified

The first 2 products are both level day one coverage whereas the modified plan is very lackluster.

Eternal Advantage Preferred

This is hands down their best product it includes:

• Level Day One Coverage
• Level Premiums that Never Increase
• Death Benefit Never Decreases

In addition to the benefits above it is also one of the most competitively priced products on the market. On average we have seen our clients get rates 20% lower than other carriers!

Eternal Advantage Standard

The highlight of this is that if your health does not pass for their preferred you can still get day one coverage with their Standard for a higher premium

• Level Day One Coverage
• Level Premiums Never Increase
• Death Benefit Never Decreases

Eternal Advantage Modified

This is not day one coverage it is a Return of Premium Benefit. in year 1 if death occurs the premiums paid in plus 10% go to the beneficiary. year 2 is the same this goes until year 4. We do not recommend this product to anyone.

• Level Premiums
• Death Benefit Never Decreases

Greek Catholic Union Eligibility & Underwriting

Greek Catholic Union’s underwriting is strict.

This is why they offer low rates because you must be in good health to qualify for their coverage. Now, this is where we as experts come in.

If you cannot qualify for their preferred or standard plans a ParamountQuote agent will help you pivot to a different company that will offer you a better rate and coverage. We help 90% of our clients find day one coverage and if our agents can’t they will tell you and help you get a guaranteed issue policy as a last resort.

Knock Out Questions

If you answer yes to any of these questions it is an automatic decline.

Are you currently or in the last 12 months:

• Hospitalized
• In a nursing home
• Using oxygen for breathing
• HIV,AIDS,ARC
• Alzheimer’s, dementia, memory loss
• Dialysis
• Renal Failure
• Congestive Heart Failure
• Amputation due to disease
• Organ Transplant
• More than 1 occurrence of Cancer

Modified Questions

If you answer yes to any of these you will be offered the modified plan.

Have you ever been diagnosed with:

• Leukemia
• Lymphoma
• Multiple Myeloma
• Pulmonary Fibrosis
• Hemophilia
• Systemic Lupus
• Chronic Renal Insufficiency
• Schizophrenia
• Down Syndrome

In the past 5 years have you been diagnosed with:

• Cancer(excluding skin cancer)

In the past 2 years have you been diagnosed with:

• Aneurysm
• Heart attack
• Coronary Artery Disease
• Cardiomyopathy
• Heart Disease
• Stroke
• Hear Surgery including Pacemaker

Preferred/Standard Questions

Have you ever been diagnosed with:

• Parkinson’s disease
• Paralysis
• Multiple Sclerosis
• Scleroderma
• Chronic Obstructive Pulmonary Disease(COPD)
• Emphysema
• Chronic pancreatitis
• Hepatitis B or C
• Bipolar disorder

In the past 3 years have you been diagnosed with:

• Aneurysm
• Heart Attack
• Coronary Artery Disease
• Cardiomyopathy
• Heart Disease
• Heart Surgery
• Peripheral vascular disease
• Peripheral artery disease
• Carotid artery disease requiring surgery
• Atrial Fibrillation
• Diabetes with Insulin use

Those are all of the health questions they ask and depending on your MIB & prescription checks it will determine what plan you qualify for.

Greek Catholic Union Ratings

The ratings for Greek Catholic Union are solid because they have good financial strength. They are as follows:

• Greek Catholic Union AM Best Rating – A-(Excellent)
• Greek Catholic Union Better Business Bureau Rating – A+