Choice Mutual Rating

Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.

In this Aetna funeral insurance review, learn how their policy works, see cost estimates, and the pros and cons.

Also, we’ll discuss when it’s a good idea to buy Aetna versus other providers.

How Does Aetna Final Expense Insurance Work?

Aetna final expense insurance is a simplified issue whole life policy that does not require a medical exam.

Qualification entails only answering some basic health questions. In addition to the health questions, Aetna will also analyze your medication history because that tells them a great deal about your health.

When you die, Aetna will pay your named beneficiaries a tax-free cash benefit. You can also elect to designate a funeral home as the beneficiary.

There are no restrictions on how your loved ones use the money from an Aetna life insurance policy. It doesn’t have to be spent only on funeral expenses. That means they can pay off medical bills, credit cards, or anything else.

Also, if money is left over after your final expenses are paid, they get to keep it.

Aetna burial insurance has three health ratings that could qualify for:

  • Preferred: This is the lowest-cost option and has no waiting period. To qualify for the preferred rating, you must be able to honestly answer no to all the health questions.
  • Standard: This option is more expensive than the preferred plan, and it also has no waiting period. The standard plan will be offered if you have any of the medical conditions in Part C of the application health questions.
  • Modified: This option is the most expensive one they offer, and it has a full two-year waiting period. If you die during the waiting period, Aetna will only refund 110% of your premiums (unless the death is accidental). The modified plan will be offered if you have any health issues in Part B of the application health questions.

Aetna senior products are only sold via licensed agencies like Choice Mutual. They do not have internal sales agents who sell this funeral insurance policy for seniors.

Coverage DetailsPreferredStandardModified
Policy TypeWhole Life Insurance
Policy DurationLifetime
Fixed PremiumsYes
Builds Cash ValueYes
State AvailabilityAll states except New York
New Applicant Age Range40-8940-75
Minimum Coverage Amount$2,000
Maximum Coverage Amount40-55: $50k
56-65: $40k
66-75: $30k
76-89: $25k
Free Built In RidersTerminal illness
Optional RidersAccidental Death (2X the payout for accidental death)
Where to ApplyAgencies licensed to sell Aetna Life products (you can't buy this plan directly from them)
Phone Number to Apply1-800-644-2926
Medical Exam RequiredNo
2-Year Waiting PeriodNo
(subject to underwriting approval)
2 years
Application Approval Time5 Minutes
BrochureAetna Final Expense Brochure
Sample ApplicationAetna Final Expense Application


How Much Does Aetna Burial Insurance Cost?

The cost of Aetna final expense insurance is a function of your exact age, gender, health history, tobacco habits, resident state, and coverage amount.

In the table below, you can see some sample burial insurance quotes for their program. All prices shown in this whole life rate chart are monthly for $10,000 in coverage.

40F: $23.80
M: $26.42
F: $24.67
M: $29.05
F: $31.76
M: $35.26
45F: $25.55
M: $29.92
F: $29.92
M: $34.39
F: $35.26
M: $41.47
50F: $27.30
M: $34.39
F: $37.01
M: $40.51
F: $38.94
M: $49.44
55F: $34.39
M: $44.10
F: $44.10
M: $48.47
F: $48.91
M: $58.45
60F: $40.51
M: $51.10
F: $51.10
M: $61.69
F: $59.85
M: $78.49
65F: $47.60
M: $58.19
F: $61.69
M: $79.36
F: $67.99
M: $102.46
70F: $58.19
M: $73.15
F: $76.74
M: $104.04
F: $88.90
M: $122.41
75F: $75.86
M: $101.41
F: $97.91
M: $143.76
F: $144.29
M: $185.24
80F: $101.41
M: $140.26
F: $140.26
M: $202.82
85F: $136.67
M: $195.82
F: $219.97
M: $312.20
86F: $171.32
M: $236.25
F: $262.41
M: $360.94
87F: $205.97
M: $276.67
F: $304.85
M: $409.67
88F: $240.62
M: $317.10
F: $347.29
M: $458.41
89F: $275.27
M: $357.52
F: $389.72
M: $507.15


Pros & Cons Of Aetna Funeral Insurance

The Good
  • The preferred and standard plans have no waiting period
  • Qualification only requires answering health questions (no exam)
  • Approvals are generally rendered in less than five minutes
  • Competitive prices in line with most other providers
  • Available in nearly all states (just not New York)
  • Permanent coverage that has a fixed premium
  • The underwriting is well designed to approve most seniors even if they have very high-risk conditions like COPD, diabetes, and many more
  • Applicants 55 and younger can purchase up to $50K in coverage which is higher than most other companies
The Bad
  • Some companies offer moderately lower prices
  • The modified plan is very expensive
  • No guaranteed acceptance options
  • There are no multi-policy discounts unless you recently bought an Aetna Medicare Supplement
  • Policy mail times are slower than most other providers


Should You Buy Aetna Final Expense Life Insurance?

Aetna is one of the best companies that offer life insurance for seniors over 80 (or 85).

But even for younger ages, they have a well-priced final expense policy that is worth it if you can qualify for their preferred or standard plan.

That’s why they made the list of the best funeral insurance companies.

The modified plan isn’t worth buying due to its very high cost.

Yes, some companies like United of Omaha’s burial insurance does cost less (but not by much).

Remember that all companies are different regarding underwriting (which health ailments they accept) and the cost. With life insurance, it’s impossible that one company is going to be best for everyone. That’s why it’s super important to compare multiple insurers side by side before deciding.

There are a ton of health issues that Aetna will accept (with no waiting period).

In the box below, you can see just how many health conditions they are okay with (there are more beyond this list).

Common conditions still eligible for no waiting period coverage:

Aneurysm (if surgically repaired)
Bipolar disorder
Blood clots
Blood thinners
Cancer > 2 years ago
Chronic bronchitis
Circulatory surgery > 2 years ago
Crohn’s disease
Diabetes (type 1 or 2)
Diabetic coma > 2 years ago
Graves’ disease
Heart attack > 1 year ago
Heart surgery > 1 year ago
Hepatitis > 2 years ago
High blood pressure
High cholesterol
Insulin shock > 2 years ago
Multiple sclerosis
Over 85 life insurance
Pacemaker (installed > 1 year ago)
Parkinson’s disease
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 1 year ago
Tumors (noncancerous)


Aetna Company Background

Aetna has been operating since 1895 and maintains an A (Excellent) rating with A.M. Best.

They offer a suite of senior insurance products, including burial insurance, Medigap, Medicare Advantage, hospital indemnity, and many other health-related products.

They operate nationwide except for New York.

Their contact information is below:

  • Website:
  • Phone: 1-800-264-4000
  • Mailing address: 151 Farmington Avenue, Hartford, CT 06156