Wellabe life insurance

Overview

Wellabe is a Des Moines, Iowa insurance group that sells to people at or near retirement. Its one current life insurance product is preneed funeral insurance, sold with partner funeral homes and underwritten by Great Western Insurance Company. The rest of its business is supplemental health coverage for seniors: Medicare Supplement, hospital indemnity, critical illness, cancer, dental and short-term care insurance.

The group, filed with the NAIC as Wellabe Mutual Holding Company group, ranked #100 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with about $105.4 million in premiums and a 0.07% market share.

Wellabe was known until 2023 as American Enterprise Group, and many customers still know its older brands: American Republic, Medico and Great Western. It operates under a mutual holding company, so it has no outside shareholders. Its six insurance subsidiaries are American Republic Corp Insurance Company, American Republic Insurance Company, Great Western Insurance Company, Medico Corp Life Insurance Company, Medico Insurance Company, and Medico Life and Health Insurance Company. Together they are licensed in 49 states and Washington, D.C.

History

Watson Powell founded American Republic Insurance Company in Des Moines in 1929 with 200 charter policies, six months before the Great Depression began, according to Wellabe. It expanded beyond Iowa in 1945, starting with Minnesota. American Republic later reorganized into a mutual holding company structure, with American Enterprise Mutual Holding Company at the top and American Enterprise Group, Inc. as an intermediate stock holding company.

The group grew through acquisitions:

• 2006: American Enterprise Mutual agreed to take over, through reinsurance, the major medical block of Ceres Group, about 60,000 policyholders of Continental General Insurance Company, Central Reserve Life Insurance Company and Provident American Life & Health, according to Claims Journal. Wellabe still administers policies for Continental General, Central Reserve Life and Provident American Life.
• 2012: American Enterprise combined with Medico, an Omaha, Nebraska insurer formerly known as Mutual Protective Insurance Company, in a merger of the two mutual holding company systems effective July 1, 2012, according to the Nebraska Department of Insurance order approving it.
• 2018: American Republic acquired Great Western Insurance Company, a preneed funeral insurer in Ogden, Utah, founded in 1983, according to Insurance Journal.

In May 2023, American Enterprise Group announced that it would move to a single brand, Wellabe, in June 2023, replacing the American Republic, Medico and Great Western names in its marketing. The name comes from the phrase "we'll always be." Dave Keith is chief executive.

Wellabe's companies also administer business for other insurers, including American Family Mutual Insurance Company, S.I., American Family Insurance Company, Ability Insurance Company, the Knights of Columbus Health and Accident Division, and Pioneer Mutual Life. If your policy came from one of those companies, Wellabe may be the one servicing it; see when your life insurance policy is sold to another company.

Life insurance products

Wellabe's life insurance is limited to funeral funding:

• Preneed Funeral insurance. A permanent life policy that funds a specific funeral service agreement with a funeral home you choose. You meet with the funeral director, choose the service, casket or urn, flowers, transportation and other details, and the director's total becomes the policy amount. At death, the proceeds pay the funeral home. - Policies range from $500 to $24,999; $25,000 or more needs pre-approval. - You can pay with one single premium or spread payments over three, five or 10 years. A separate plan is available for people whose death is expected soon. - Premiums never increase and the policy cannot be cancelled by the company as long as premiums are paid. Your health may determine which plan you get, but Wellabe says you will not be denied because of poor health. - The benefit grows over time at simple or compound rates depending on the plan, to help keep pace with funeral prices. Optional riders include one that pays a benefit if a grandchild dies.

Preneed is different from a general final expense policy because the money is tied to one funeral home's contract; see burial insurance vs final expense vs preneed. Wellabe still services older final expense policies through a dedicated line (800-733-5454), but final expense insurance is not among the products it currently markets. It does not sell term, universal or other income-replacement life insurance.

Other products

Most of Wellabe's business is health coverage for seniors: Medicare Supplement plans, hospital indemnity (including riders that work alongside Medicare Advantage), critical illness, First Diagnosis Cancer insurance, dental insurance and short-term care insurance. Wellabe also partners with VSP Individual Vision Plans and Start Hearing for vision and hearing coverage, and runs a Wellabe Rewards program for policyholders.

Buying and service

Preneed policies are sold through funeral homes that partner with Wellabe; the website can connect you with one. Health products are sold through licensed agents: you can request a quote online or call 866-739-8143 (weekdays 8 a.m. to 6 p.m. Central time). The website asks for your ZIP code because plans vary by state.

Customers can use the online customer portal around the clock to check claims, make payments, request ID cards and send secure messages. Phone lines are 800-995-9010 for preneed funeral insurance, 800-733-5454 for final expense insurance and 800-228-6080 for supplemental health insurance, weekdays 7:30 a.m. to 5 p.m. Central time. General email is [email protected]; Wellabe asks customers not to email personal information.

Claims

With a preneed policy, the funeral home named in the funeral service agreement provides the service and is paid from the policy, so families normally start with that funeral home. For questions about a preneed or final expense death claim, call the preneed line (800-995-9010) or the final expense line (800-733-5454); the insurer will typically need a certified death certificate. Wellabe does not publish a death claim payout time. Health claims can be filed by mail, fax or through the customer portal if the provider does not file them.

Ratings and reputation

• AM Best: A (Excellent) with a stable outlook for all six insurance subsidiaries, affirmed in May 2026 according to Wellabe; Wellabe announced the affirmation in a June 30, 2026 release, saying AM Best assessed the group's balance sheet strength as strongest. The 2025 affirmation was the fifth straight year at A.
• J.D. Power: Wellabe was not among the 23 brands ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study.

Because Wellabe's brands changed in 2023, older policy documents may show American Republic, Medico or Great Western instead. Those are still Wellabe companies.

Who it suits

Wellabe suits older adults who want to lock in a funeral plan with a local partner funeral home, especially those whose health might make other coverage hard to get, and seniors looking for Medicare Supplement or other supplemental health coverage from one company through an agent. It does not suit anyone who needs life insurance to replace income or pay off a mortgage, wants cash to go to family rather than a funeral home, or wants to buy online without an agent.

• Strengths: AM Best A (Excellent) affirmed in 2026; preneed plans with guaranteed level premiums and no denials for poor health; a long history dating to 1929; policyholder-oriented mutual holding company structure.
• Weaknesses: Only one life product, preneed, capped at $24,999 without pre-approval; preneed money is tied to a single funeral home contract; sold only through agents and funeral homes; brand changes since 2023 can confuse policyholders.

How to contact Wellabe