Aetna Final Expense Insurance Review: Is It Worth It for Seniors?
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
Are you searching for reliable final expense insurance and considering Aetna?
Finding the right burial insurance plan can be overwhelming, especially with so many options.
Aetna, a well-established insurance provider, offers Final Expense Whole Life Insurance, designed to cover funeral and burial costs.
But is Aetna’s final expense plan the best option for you? In this review, we’ll break down Aetna’s coverage options, benefits, customer reviews, and how it compares to other providers to help you make an informed decision.
What Is Aetna Final Expense Insurance?
Aetna’s Final Expense Whole Life Insurance is a permanent life insurance policy designed to cover end-of-life costs. It ensures that families are not left with financial burdens related to funerals, medical bills, or outstanding debts.
AETNA has two final expense products:
- AETNA Protection Series
- AETNA CVS Health with Accendo Underwriting
Key Features of Aetna Final Expense Insurance:
✅ Coverage amounts range from $2,000 to $50,000.
✅ No medical exam required—approval based on health questions.
✅ Fixed premiums—monthly payments never increase.
✅ Lifetime coverage—policy never expires as long as premiums are paid.
✅ Cash value accumulation—policy builds savings over time that can be borrowed against.
This plan is available to seniors aged 45–89 for Protection Series, and age 40-89 for AETNA’s CVS Health with Accendo underwriting which is a wholly-owned subsidiary of AETNA and is marketed as an easy, affordable way to secure coverage for funeral expenses.
*Ballpark Quote
Aetna Final Expense Insurance Benefits
Aetna’s final expense plan offers key benefits that make it a strong option for seniors looking for hassle-free life insurance.
✅ Guaranteed Payout – As long as premiums are paid, beneficiaries receive the full death benefit.
✅ No Medical Exam – Seniors can qualify without undergoing a physical exam.
✅ Flexible Coverage Options – Choose an amount that fits your family’s needs.
✅ Cash Value Growth – A portion of your premiums is saved and can be accessed if needed.
What are the final expense benefits of Aetna?
AETNA Protection Series
| Feature | Details |
|---|---|
| Plan Type | Whole Life Insurance (Final Expense Protection) |
| Issue Ages | 45-89 (Age Last Birthday) |
| Face Amounts |
– **Ages 45-55**: $2,000 – $50,000 – **Ages 56-65**: $2,000 – $40,000 – **Ages 66-75**: $2,000 – $30,000 – **Ages 76-89**: $2,000 – $25,000 |
| Medical Exam | No medical exam required (Simplified Underwriting) |
| Benefit Type |
– **Level Benefit Plan**: Full face value from day 1. – **Accidental Death**: Full benefit immediately. – **Non-Accidental Death**: Full benefit in all years. |
| Premiums |
– **Guaranteed level premiums** (will never increase). – **Guaranteed renewable** for life as long as premiums are paid. |
| Built-In Policy Features |
– **Non-Cancelable**: Policy remains active as long as premiums are paid. – **30-Day Free Look Period**: Full refund available if canceled within 30 days. – **Cash Value Accumulation**: Policy builds cash value over time. |
| Optional Riders |
– **Accidental Death Benefit Rider**: Pays an additional benefit for accidental death (Issue Ages 40-70). – **Children’s Term Rider**: Provides coverage for children, grandchildren, and great-grandchildren (Ages 30 days to 18 years). – **Cash Value Loan Option**: Borrow against the policy’s cash value (Loan amount must exceed $1,000). |
| Non-Forfeiture Options |
– **Reduced Paid-Up Insurance**: Keeps the policy in force with a reduced benefit. – **Extended Term Insurance**: Provides coverage for a limited period with full face value. – **Automatic Premium Loan**: Uses cash value to pay premiums if the policyholder forgets a payment. |
| Social Security & Medicare Supplement Rate Discounts |
– Matches Social Security deposit schedule for **automatic premium payments**. – **Super Preferred Rate** available for customers who purchased an Aetna-affiliated Medicare Supplement policy in the past 180 days. |
| Company Information |
– **Underwritten by**: Continental Life Insurance Company of Brentwood, Tennessee (An Aetna Company). – **Website**: Aetna Senior Products – **Customer Service**: 1-800-264-4000 |
Key Features of Aetna Protection Series℠ Final Expense
- No Medical Exam Required: Simplified Issue underwriting—no labs or doctor visits.
- Guaranteed Premiums & Coverage: Premiums never increase and coverage never decreases.
- Flexible Face Amounts: Coverage options from $2,000 to $50,000, depending on age.
- Cash Value Accumulation: Policy builds cash value over time, with loan options.
- Optional Riders: Accidental Death & Children’s Term Insurance riders available.
- Non-Forfeiture Options: Reduced Paid-Up, Extended Term, & Automatic Premium Loans.
- Aetna & CVS Health Backing: Strong financial backing for reliability & trust.
*Ballpark Quote
Is Aetna a good insurance for seniors?
AETNA CVS Health Accendo
| Feature | Details |
|---|---|
| Plan Type | Whole Life Insurance (Final Expense Protection) |
| Issue Ages |
– **Level Benefit Plan:** 40-89 – **Modified Benefit Plan:** 40-75 |
| Face Amounts |
– **Ages 40-55**: $2,000 – $50,000 – **Ages 56-65**: $2,000 – $40,000 – **Ages 66-75**: $2,000 – $30,000 – **Ages 76-89**: $2,000 – $25,000 |
| Medical Exam | No medical exam required (Simplified Underwriting) |
| Benefit Type |
– **Level Benefit Plan:** Full death benefit from Day 1. – **Modified Benefit Plan:** • Year 1-2: 110% of premiums paid if death is from natural causes. • Year 3+: Full death benefit. • Accidental Death: Full benefit in all years. |
| Premiums |
– **Guaranteed level premiums** (will never increase). – **Guaranteed renewable** for life as long as premiums are paid. |
| Built-In Policy Features |
– **Non-Cancelable:** Policy remains active as long as premiums are paid. – **30-Day Free Look Period:** Full refund available if canceled within 30 days. – **Cash Value Accumulation:** Policy builds cash value over time. |
| Optional Riders |
– **Accelerated Death Benefit Rider:** Pays up to 50% of the death benefit if diagnosed with a terminal illness. – **Accidental Death Benefit Rider:** Pays an additional benefit for accidental death (Issue Ages 40-70). – **Children’s Term Insurance Rider:** Provides coverage for children, grandchildren, and great-grandchildren (Ages 30 days to 18 years). |
| Non-Forfeiture Options |
– **Reduced Paid-Up Insurance:** Keeps the policy in force with a reduced benefit. – **Extended Term Insurance:** Provides coverage for a limited period with full face value. – **Automatic Premium Loan:** Uses cash value to pay premiums if the policyholder forgets a payment. |
| Social Security & Medicare Supplement Rate Discounts |
– Matches Social Security deposit schedule for **automatic premium payments**. – **Super Preferred Rate** available for customers who purchased an Aetna-affiliated Medicare Supplement policy in the past 180 days. |
| Company Information |
– **Underwritten by:** Accendo Insurance Company (Part of CVS Health and Aetna). – **Website:** Aetna Senior Products – **Customer Service:** 1-800-264-4000 |
Key Features of Aetna Accendo Final Expense
- No Medical Exam Required: Simplified Issue underwriting—no labs or doctor visits.
- Guaranteed Premiums & Coverage: Premiums never increase and coverage never decreases.
- Flexible Face Amounts: Coverage options from $2,000 to $50,000, depending on age.
- Cash Value Accumulation: Policy builds cash value over time, with loan options.
- Optional Riders: Accelerated Death Benefit, Accidental Death, & Children’s Term Riders available.
*Ballpark Quote
Aetna Final Expense Insurance Rates & Sample Costs
Aetna’s final expense policy is competitively priced, but costs vary based on age, gender, and health status.
AETNA Protection Series
Sample Monthly Rates for the Most Common Coverage Policy (Non-Smoker):
Female
Male
- Guaranteed issue policies (no health questions) are available but cost 20-30% more.
- Rates are higher for smokers and applicants with pre-existing health conditions.
*Ballpark Quote
AETNA CVS Health Accendo
Sample Monthly Rates for the Most Common Coverage Policy (Non-Smoker):
Female
Male
*Ballpark Quote
Aetna Life Insurance Ratings & Customer Satisfaction
Aetna has strong financial backing and is a trusted name in the insurance industry.
- Aetna’s Financial Strength:
- AM Best Rating: A (Excellent).
- Better Business Bureau (BBB) Rating: A+ (Strong reputation but some customer complaints).
- Customer Reviews & Complaints:
✅ Customers praise affordable premiums & easy application process.
❌ Some complaints about slow claims processing.
Does Aetna Deny a Lot of Claims?
Aetna does not have a reputation for frequently denying claims, but delays can occur due to:
- Beneficiary details being incomplete or incorrect.
- The policyholder passing away during the contestability period (first two years).
- Misrepresentation of health conditions on the application.
Above all, Aetna follows strict underwriting guidelines, but most valid claims are paid within 10-14 business days.
Aetna Final Expense Insurance Complaints & Common Issues
While Aetna is well-rated, some common customer complaints include:
❌ Claim Delays – Some families report waiting weeks for payouts.
❌ Higher-than-expected premiums – Seniors with pre-existing conditions may see higher costs.
❌ Limited coverage for the first two years – Policies may have a waiting period for non-accidental deaths.
However, Aetna remains one of the top final expense insurance providers due to its financial stability and wide coverage options.
*Ballpark Quote
Aetna Final Expense Insurance vs. Competitors
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FAQ
Lifetime coverage, fixed premiums, no medical exam, and a guaranteed payout.
Aetna holds an A rating from AM Best and an A+ BBB rating.
Aetna is a reputable insurer with strong financial backing and affordable rates.
Aetna pays most claims but follows strict underwriting—some claims get delayed due to missing documentation.
Yes, Aetna offers competitive burial insurance plans with no medical exam.
Conclusion
Aetna’s Final Expense Whole Life Insurance provides seniors with affordable, no-medical-exam coverage to ensure their families aren’t burdened with funeral costs. With strong financial ratings, flexible coverage options, and lifetime benefits, Aetna is a solid choice for final expense insurance.
However, it’s essential to compare Aetna to other providers to find the best rates and benefits.
Are you ready to secure burial insurance that provides financial peace of mind for your loved ones?
*Ballpark Quote
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