Aetna Senior Products Review

Kim Wilhelm CEO of Final Expense Direct Life Insurance

Written by Kim Wilhelm

CEO | Licensed Insurance Agent

CEO | Licensed Agent

Verified! See guidelines

Verified! See our editorial guidelines

Last Updated 08 May 2024

As a senior citizen, your healthcare and insurance needs change - as does your income. You need to find insurance products that meet your unique needs within a limited budget.

Luckily, there are several reputable companies that offer excellent products designed specifically to meet the needs of seniors at a reasonable cost. One such company is Aetna. Aetna senior products focus on Medicare supplement and final expense insurance. Let's take a look at Aetna in more detail.

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Is Aetna a Reputable Company?

Aetna was established in 1895 and has an A rating with AM Best, which means you can place your trust in their affordable products. Owned by CVS Corporation, Aetna Medicare plans and supplemental insurance policies are occasionally sold under company names like the Continental Life Insurance Company or American Continental Insurance Company. They are also related to the American Home Life Patriot plan, First Health Life and Health Insurance Company and Coventry Health and Life Insurance Company.

The good news is that all these subsidiaries have high financial strength ratings and solid reputations. Aetna's network includes over 20 million medical members, 650,000 primary care physicians, and 5,000 hospitals.

They've moved with the times and offer virtual customer service and member login portals that make filing or viewing your insurance claims simple.

Bear in mind that products can only be purchased through a licensed insurance agent and not directly from Aetna. If you are interested in Aetna senior products, particularly final expense insurance, give Final Expense Direct a call at 1-800-217-0014.

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What Kind of Products Does Aetna Offer to Seniors?

Aetna offers supplemental insurance products, including:

Cancer and Critical Illness Insurance
Dental, vision, and hearing insurance
Medicare supplement and Advantage products
Recovery and home care plus
Final expense insurance
Hospital indemnity and prescriptions

Not all of their products are available nationwide.

Reviewing Aetna Senior Products

Here are just a few of the products Aetna has made available to seniors:

Final Expense Insurance

Aetna offers final expense insurance, a whole life insurance policy that is designed to cover the cost of a funeral or memorial, i.e., the final expenses of the deceased. Unlike traditional life insurance, these policies are very affordable and available to seniors at nearly any age, even if their health is less than ideal. There's no medical exam, and it's easy to get approved.

For example, a 70-year-old female can expect to pay around $128.33 per month for $20,000 in coverage. A 70-year-old male will pay $81.67 for $10,000 in coverage.

Click here to view our rate calculator and see how much you would pay for a final expense policy.

Considering that a funeral with a viewing can cost up to $10,000 (or more), a final expense insurance policy can go a long way towards alleviating the financial burden a family faces after losing a loved one.

Aetna's final expense insurance products are offered through the Tennessee Continental Life Insurance company and the Accendo Life Insurance company in partnership with CVS Health. The plans vary in terms of price and underwriting, and you will receive a discount if you also purchase a Medicare supplement insurance plan with Aetna.

Aetna offers this type of life insurance to over-80-year-olds, and there are guaranteed issue plans available.

Medicare Supplements

Medicare offers affordable healthcare to seniors, but it won't necessarily meet all of your needs. Aetna's supplemental insurance helps policyholders bridge the gap, e.g., covering copayments, deductibles, medical care when traveling outside of the country, and coinsurance. Aetna's Advantage plan covers Medigap Plans N, G, and F. Plan F is the most comprehensive.

Protection Series

Even if you have health insurance, you might not be covered as thoroughly as you like. The Aetna Protection Series offers coverage if you suffer a stroke or heart attack, as well as hearing, vision, and dental care.

Advantage Plan

This plan is sometimes called Medicare Part C. The Advantage plan doesn't have monthly out-of-pocket costs, but there are copays. It comes with free benefits, including a fitness membership, a 24-hour nurse line, home delivery of prescriptions, hearing, vision, and dental cover, meal delivery, and annual flu shots.

Prescription Drug Plans

Aetna has several prescription drug plans with different benefits and costs. The plans with higher premiums generally offer lower copayments.

Hearing, Vision, and Dental

You can choose between two plans that cover most routine services as well as fillings, glasses, and hearing aids - the regular and the Plus plan. It's a guaranteed acceptance plan, which means anyone below the age of 90 can apply and won't be turned down.

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Insurance Riders

An insurance rider is an optional add-on or amendment to an insurance policy that provides specific additional benefits or features beyond the standard coverage. It allows policyholders to customize their insurance to better suit their individual needs. Aetna offers several insurance riders, including:

Accelerated Death Benefit Rider: This rider allows the policyholder to receive a portion (up to 50%) of the death benefit before passing away, provided a physician certifies a qualifying medical event or condition. This can help cover medical expenses or other costs while the insured person is still alive.
Accidental Death Benefit Rider: For policyholders aged 40 to 70, this rider doubles the death benefit payout if the insured dies due to an accident. It provides extra financial support for the beneficiaries in the case of accidental death.
Children's Term Insurance Rider: This rider provides coverage for the policyholder's children, typically up to the age of 25. The coverage amount can range from $2,500 to $10,000. In the unfortunate event of a child's death, this rider offers a payout to help with funeral expenses or other costs.
Portability Rider: This rider ensures that you can continue your insurance coverage even if you change jobs or retire. It allows you to transfer your policy to a new employer or maintain coverage independently without losing the benefits you've accrued.
Waiver of Premium Rider: If the policyholder becomes disabled and is unable to work, this rider waives premium payments while maintaining the coverage. It ensures that the insurance policy remains in force during a period of disability, providing financial protection even when the policyholder's income is impacted.

These riders mean you can customize your insurance policy according to your unique needs.

Conclusion: Aetna Senior products

Aetna's senior products offer great coverage for seniors. You can supplement your health insurance plan or purchase funeral insurance products that will cover the cost of your funeral after your death. The company and its subsidiaries have a solid reputation, comprehensive plans at affordable rates, and good customer service and support.

While Aetna senior products come highly recommended, it's always a good idea to compare different plans and shop around before making a final decision. Aetna is just one of the many excellent final expense insurance companies we can recommend. If you would like to know more about finding the right coverage for you and your loved ones, get in touch with Final Expense Direct. We only work with the best of the best and only support businesses that really care about seniors and their needs. Our expert team will gladly help you find the right insurance product at the best possible price.

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Read more of our Final Expense Company Reviews:

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