The enormous potential of Guided waves have a significant use for non-destructive evaluation(NDE) and structural health monitoring(SHM). It is common to use different solution approaches to predict dispersion curves depending on the material type, isotropic, transversely isotropic, or orthotropic, of the medium in which the wave propagates, shape of the waveguide, etc. Inability to model waveguides of arbitrary cross-section by existing matrix methods has led to development of Semi-Analytical Finite Element(SAFE) Method. In this study, rapid and accurate prediction of the propagation characteristics for guided waves in a wide range of structures has been performed by implementation of SAFE method. Damped and undamped waveguides of different shapes can be modelled. Wave propagation characteristics in both isotropic and anisotropic composite structures can also be studied. To benchmark the solution, a case study using Transfer Matrix Method (TMM) for composite plate has been evaluated. It was found that the element discretizaton plays an important role in accurate prediction of modes in SAFE method, neglecting which leads to loss of higher order modes.