Great-West Life Insurance
A Canadian company, Great-West Life Assurance Company has been serving consumers and businesses for more than 120 years.
The company was founded in 1891 in Winnipeg, Manitoba. Created by an Act of Parliament, the insurer was granted its license to sell life insurance in 1892 and offered six plans at that time. The maximum benefit was capped at $10,000 and the first claim was received in 1893 for $1,000.
From these humble beginnings, Great-West Life has grown into a global business. Its first U.S. office was opened in North Dakota in 1906. Today, the company serves 12 million people in Canada and has more than $200 billion in consolidated assets.
Great-West Life offers individual insurance policies in the following categories:
· Life insurance
· Disability insurance
· Critical illness insurance
· Health & dental insurance
In addition, the insurer provides group benefits and retirement plans for employers.
Today, Great-West Life is a subsidiary of Great-West Lifeco Inc. which is a part of the Power Financial Corporation. The headquarters of Great-West Life remain in Winnipeg, the city of its founding.