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In this Aetna life insurance review, you’ll learn how their plans work and how to qualify.

Moreover, see how much their coverage costs and how they stack up to other final expense life insurance companies.

How Does Aetna Life Insurance Work?

Aetna only sells final expense insurance, which is commonly known as burial or funeral insurance. It’s a small whole life insurance policy with relaxed underwriting, so seniors with moderate to severe health issues can still qualify for coverage.

No medical exam is necessary because eligibility only depends upon your answers to health questions. Most of the time, there is no waiting period.

When you die, Aetna will pay your beneficiaries cash (non-taxable) very quickly so they can pay for your funeral. But remember, the payout money can be spent on anything, including the cost of a funeral, health care bills, debts, or anything else.

Aetna issues their end of life insurance for seniors through two of its member companies:

  • Accendo Life Insurance Company
  • Continental Life Insurance Company of Brentwood, Tennessee

If Accendo issues your policy, you’ll see “part of the CVS Health family of companies and Aetna affiliate” because CVS Pharmacy bought Aetna in 2018.

Each subsidiary company has a different burial insurance plan with unique underwriting and pricing. Below is a table that breaks down the details and differences between both insurance products.

Product DetailsAccendo Life Insurance Company
(Subsidiary of Aetna)
Continental Life Insurance Company
(Subsidiary of Aetna)
Policy TypeWhole Life Insurance
New Applicant
Age Range
Death Benefit OptionsAge 40-55: $2,000-$50,000
Age 56-65: $2,000-$40,000
Age 66-75: $2,000-$30,000
Age 76-89: $2,000-$25,000
Health Questions To
Determine Eligibility
Medical Exam RequiredNo
Health RatingsPreferred: No Waiting Period
Standard: No Waiting Period
Modified: 2-Yr Waiting Period
Level: No Waiting Period
Age When The
Policy Expires
How Often
Prices Increase
Does The Coverage DecreaseNo
Terminal Illness
Rider Included At
No Extra Cost
Optional RidersAccidental Death
(2x payout for accidental death)
BrochureAccendo BrochureCLI Brochure
Sample ApplicationAccendo ApplicationCLI Application
How To ApplyThrough licensed Aetna insurance agents
Acceptable Methods
Of Payments
Monthly: Bank Draft (No Direct Bill)
Quarterly: Bank Draft or Direct Bill
Semi-Annual: Bank Draft or Direct Bill
Annual: Bank Draft or Direct Bill
**No Credit or Debit Cards**
How To Get QuotesClick to get a quote for Aetna final expense insurance


How Much Does Aetna Life Insurance Cost?

The cost of final expense Aetna life insurance is typically $30-$150 monthly for $10,000-$25,000 in coverage. Your actual premium will be a function of your specific age, gender, state of residence, how much coverage you elect, tobacco habits, and which product you choose.

Below are some sample final expense insurance premiums for their Accendo product.

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 And Cons Of Aetna Life Insurance

The Good
  • Accepts seniors as old as 89 (very few companies go above 85)
  • Immediate coverage options, even for applicants with high-risk chronic illnesses
  • Competitive premiums
  • No medical exam
  • No questions about height and weight
  • Applications are typically approved in less than five minutes
  • Lifetime coverage at a fixed cost
  • Backed by one of the nation’s largest insurers
  • Discounts are available for applicants who also purchase or have recently purchased a Medicare supplement
  • Seniors 40-55 can buy up to $50,000 in whole life insurance, which is much more than most final expense insurance providers
  • Available in all states other than New York
  • Accelerated death benefit rider automatically included at no additional cost
The Bad
  • No guaranteed acceptance options (you can be outright denied)
  • Underwriting is unpredictable, leading to some applicants being denied for unknown reasons
  • Policy arrival times via US mail are slower than many other companies
  • Cannot buy online- you must speak with an agent


Is Aetna Life Insurance Worth Buying?

Aetna is a superior option if you need life insurance to cover your funeral costs. Their rates are affordable, they offer a high amount of coverage (compared to other companies), and their underwriting is very favorable for seniors who are not in the best of health.

In particular, Aetna is one of the best providers of life insurance for seniors over 80, given that they will accept applicants as old as 89. They are one of five companies in the USA that sell life insurance for seniors over 85.

Combine all that with the fact that Aetna is one of the largest, most financially sound insurers, and you have a winning combination.


Aetna Life Insurance Company Background & Ratings

Aetna Life Insurance Company has been in business since 1895 and currently has an A (Excellent) rating with A.M. Best. They have virtually no complaints with the NAIC.

Their senior life insurance products are available in all states except New York.

Below is their contact information:


Other Aetna Senior Products

Aetna senior products are not just limited to life insurance. Aetna Health and Life Insurance Company has a full suite of health insurance products to help seniors live better, including but not limited to:

  • Medicare Supplements
  • Medicare Advantage
  • Prescription drug
  • Critical illness coverage, such as heart attack, stroke, or cancer
  • Dental and vision
  • Home health care
  • Hospital indemnity

Aetna’s final expense life insurance is one of the best products they sell, but don’t overlook their other health plans, which can improve the quality of your healthcare.


Frequently Asked Questions

Aetna offers whole life final expense insurance in all states except New York. They accept seniors as old as 89, and the policy lasts forever once issued. There is no medical exam, and you can buy up to $50,000 in coverage depending on your age.

Aetna offers some of the best final expense life insurance in the nation. Their prices are very competitive relative to other providers, and they accept applicants as old as 89, which is very rare. Also, they accept seniors with health issues that most other companies will decline.

Aetna life insurance products pay a tax-free cash death benefit once the insured dies. The money is payable to your beneficiaries or a funeral home. Currently, whole life burial insurance is Aetna’s only type of death benefit life insurance.

Aetna Life Insurance Company is owned by CVS Health Corporation. In November 2018, CVS bought Aetna for $69 billion.

In December 2017, CVS Health agreed to buy Aetna for $69 billion. The purchase was completed in November 2018.

Continental Life is a part of Aetna as one of their many member companies. When you buy a Contential Life insurance policy, you’ll see their name and Aetna on the cover sheet. Aetna has many subsidiary companies, including Continental life, Accendo Life, American Continental, and many more.

Accendo Insurance is a part of the CVS Health family of companies and an Aetna affiliate. When you buy an Accendo life or Medicare supplement, you’ll see their name on the policy, Aetna’s, and CVS Health (CVS owns Aetna & Accendo).

Aetna and Accendo are essentially the same company because Accendo Life Insurance Company is a subsidiary of Aetna. Their policies will show both names. Furthermore, CVS Health now owns both since they bought Aetna in 2018.