- No consumer complaints with the National Association of Insurance Commissioners.
- Applicants with chronic high-risk health issues will still qualify.
- Fair prices that are comparable to most other providers.
- High coverage amounts are not available ($50,000 is the maximum).
- They are known to sometimes have administrative issues that can result in slow processing times for policy changes and mail times.
- Phone hold times can often be lengthy.
AM Best’s Financial Strength Rating (FSR) is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores range from A++ to D-.
Moody’s Investors Service rates the creditworthiness of companies. The Moody’s Rating Scale has 21 possible scores ranging from “Aaa” (highest mark) down to “C” (lowest mark).
S&P Global Inc. issues credit ratings on a scale from “AAA” (highest rating) to “D” (lowest rating).
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
The BBB rating is based on information BBB is able to obtain about the business, including complaints received from the public. BBB seeks and uses information directly from businesses and from public data sources. BBB assigns ratings from A+ (highest) to F (lowest). If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.
- Accendo Life Insurance Company
- Continental Life Insurance Company of Brentwood, Tennessee
- American Continental Life Insurance Company
CVS Health now owns Aetna after a buyout in 2018.
How Does Aetna Life Insurance Work?
Aetna only sells final expense insurance, commonly known as burial or funeral insurance. It’s whole life insurance with loose underwriting, so seniors with moderate and 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, health care bills, debts, or anything else.
The policy has a fixed price, lasts your entire life, and will accrue cash value.
How Much Does Aetna Life Insurance Cost?
Aetna life insurance can cost as low as $20 monthly or as much as $150 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 select, tobacco habits, and health history. Below are some sample final expense insurance premiums for a policy with Aetna.
| Age & Gender | $5,000 | $10,000 | $25,000 |
|---|---|---|---|
| Female age 45 | $15 | $26 | $59 |
| Male age 45 | $17 | $30 | $70 |
| Female age 50 | $15 | $27 | $63 |
| Male age 50 | $19 | $34 | $81 |
| Female age 55 | $19 | $34 | $81 |
| Male age 55 | $24 | $44 | $105 |
| Female age 60 | $22 | $41 | $96 |
| Male age 60 | $27 | $51 | $123 |
| Female age 65 | $26 | $48 | $114 |
| Male age 65 | $31 | $58 | $140 |
| Female age 70 | $31 | $58 | $140 |
| Male age 70 | $38 | $73 | $178 |
| Female age 75 | $40 | $76 | $184 |
| Male age 75 | $52 | $101 | $248 |
| Female age 80 | $52 | $101 | $248 |
| Male age 80 | $72 | $140 | $345 |
| Female age 85 | $70 | $137 | $336 |
| Male age 85 | $100 | $196 | $484 |
| Female age 86 | $87 | $171 | $423 |
| Male age 86 | $120 | $236 | $585 |
| Female age 87 | $104 | $205 | $686 |
| Male age 87 | $140 | $277 | $686 |
| Female age 88 | $122 | $241 | $596 |
| Male age 88 | $160 | $317 | $788 |
| Female age 89 | $139 | $275 | $683 |
| Male age 89 | $181 | $358 | $889 |
| Source for monthly prices: Choice Mutual quote calculator. Rates are calculated at a non-tobacco rating, rounded to the nearest dollar, and are valid as of 07/20/2024. | |||
Should You Buy Aetna Life Insurance?
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 burial insurance coverage (compared to other companies), and their underwriting is very favorable for seniors who are not in the best of health.
Remember that no single insurer can be the best final expense insurance company for everyone. For that reason, be sure to compare multiple providers before making a decision.
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 2018, 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.
Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.
- buyout in 2018. https://www.cvshealth.com/news/company-news/cvs-health-completes-acquisition-of-aetna-marking-start-of.html
- A.M. Best. https://news.ambest.com/pr/PressContent.aspx?altsrc=2&refnum=34492
- S&P Global. https://www.fitchratings.com/research/structured-finance/fitch-affirms-withdraws-aetna-ratings-21-09-2022
- BBB. https://www.bbb.org/us/ct/hartford/profile/insurance-companies/aetna-inc-0111-71
- Trustpilot. https://www.trustpilot.com/review/www.aetna.com
- Google. https://www.google.com/search?client=firefox-b-1-d&sca_esv=a835f771045fe61e&sca_upv=1&cs=0&output=search&q=Aetna&ludocid=12768792497492780119&lsig=AB86z5XiWP9fUyJdNgvGlhB7wfaC&kgs=2d2b6e0b4a02980f&shndl=-1&shem=lsde,lsp,vslce&source=sh/x/loc/act/m1/1#lrd=0x89c41601d3bbe7ad:0xb133dd1fdfbae457,1,,,,
- Yelp. https://www.yelp.com/biz/aetna-hartford-3
- Facebook. https://www.facebook.com/aetna/reviews
- NAIC Complaint Index. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&Cocode=63444&REALM=PROD&Cocode=63444&REALM=PROD
- BBB Score & Accreditation. https://www.bbb.org/us/ct/hartford/profile/insurance-companies/aetna-inc-0111-71
