Why AETNA Burial Insurance Is The Best For Seniors In 2024
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
The AETNA Senior Supplemental, especially the AETNA Burial Insurance market is growing and reaching new heights every day.
For example, according to the U.S. Census Bureau, people aged 65 and older are expected to make up about 20% of the total U.S. population by 2050 (compared to about 13% in 2016).
As a result, the demand for products such as AETNA Accendo Final Expense that cater specifically to seniors has grown significantly in recent years and will continue to do so in the coming decades.
Armed with this information, many insurance companies have begun exploring ways to capture a chunk of this market segment, especially given that seniors tend to be more cautious when trusting new brands with their money.
After all, most senior insurance products are somewhat niche offerings that might not appeal directly to younger demographics – although that’s not saying they aren’t worth exploring further!
What Is AETNA Senior Supplemental Insurance?
Aetna is a part of the American Continental Insurance Company, which is the primary provider of burial insurance products we will cover in today’s review. Since 1861, they have been selling affordable life insurance policies, and CVS Health recently acquired Aetna in November 2018.
Aetna Senior Insurance is a health insurance company that provides medical coverage for seniors on Medicare. With Aetna Senior Insurance, you can also choose from various options, including Medicare Supplement, Part D, and PDPs.
Aetna Senior Insurance is designed to help you pay for your prescription drugs and medical care during unexpected hospitalizations or emergency room visits.
It also offers Aetna final expense whole life insurance coverage for long-term care services and prescription medications used by people with chronic conditions such as diabetes, hypertension, mental incapacity, and high cholesterol. This is one of the best plans for over age 70.
AETNA Accendo Final Expense Insurance Review
Aetna’s senior supplemental insurance program includes Aetna final expense life insurance. The firm has two affiliated life insurance companies that issue the policy.
The Accendo Life Insurance Company (ACC) and the Continental Life Insurance Company of Brentwood (CLI)
CVS Health partnered with Accendo to create the Accendo medical plan. This plan offers coverage over age 85 and up to age 89.
CVS Health is visible on all Accendo applications and policies. ACC and CLI plans offer different underwriting and prices. Aetna Medicare supplement plans provide the same discount.
Above all, they are considered one of the top burial insurance companies. As they have lenient underwriting for illnesses such as Sarcoidosis.
There are two reasons for this: First, they offer final expense life insurance to senior citizens over the age of 80. Second, they accept a wide variety of health issues that other insurance companies do not.
With Aetna, you don’t have to wait to be covered for conditions that would get you declined elsewhere.
This life insurance product is one of the best options available. So no need to shop at carriers like Open Care as their product does not compare.
Below are Accendo Preferred, Standard, and Modified rates for Females and Males ages 40 to 89 for $10,000 in coverage. This is a simplified whole life that has level premiums for life. The death benefit is guaranteed to pay as long as you make your premium payments.
Accendo Rates For Females
| Age | Preferred | Standard | Modified |
|---|---|---|---|
| 40 | $23.80 | $24.67 | $31.76 |
| 45 | $25.55 | $29.92 | $35.26 |
| 50 | $27.30 | $37.01 | $38.94 |
| 55 | $34.39 | $44.10 | $48.91 |
| 60 | $40.51 | $51.10 | $59.85 |
| 65 | $47.60 | $61.69 | $67.99 |
| 70 | $58.19 | $76.74 | $88.90 |
| 75 | $75.86 | $97.91 | $144.29 |
| 80 | $101.41 | $140.26 | N/A |
| 85 | $136.67 | $219.97 | N/A |
| 86 | $171.32 | $262.41 | N/A |
| 87 | $205.97 | $304.85 | N/A |
| 88 | $240.62 | $347.29 | N/A |
| 89 | $275.27 | $389.72 | N/A |
Accendo Rates For Males
| Age | Preferred | Standard | Modified |
|---|---|---|---|
| 40 | $26.42 | $29.05 | $35.26 |
| 45 | $29.92 | $34.39 | $41.47 |
| 50 | $34.39 | $40.51 | $49.44 |
| 55 | $44.10 | $48.47 | $58.45 |
| 60 | $51.10 | $61.69 | $78.49 |
| 65 | $58.19 | $79.36 | $102.46 |
| 70 | $73.15 | $104.04 | $122.41 |
| 75 | $101.41 | $143.76 | $185.24 |
| 80 | $140.26 | $202.82 | N/A |
| 85 | $195.82 | $312.20 | N/A |
| 86 | $236.25 | $360.94 | N/A |
| 87 | $276.67 | $409.67 | N/A |
| 88 | $317.10 | $458.41 | N/A |
| 89 | $357.52 | $507.15 | N/A |
Protection Series Final Expense Review
The Aetna Protection Series Final Expense policy provides coverage specifically for end-of-life expenses. Key aspects include:
- Fixed Premiums: Premiums do not change over time.
- Simplified Issue: Easy application with no medical exam.
- Flexible Coverage Options: Various benefit amounts to fit different needs.
- Face Amounts: $2,000-$50,000 depending on age.
- Guaranteed Death Benefit: Ensures payout to beneficiaries for final expenses.
- Eligibility: Available to a wide range of age groups.
This policy is a straightforward solution for managing final expenses, offering peace of mind for policyholders and their families.F
Below are Protection Series Preferred rates for Females and Males ages 45 to 89 for $10,000 in coverage. This is a simplified whole life that has level premiums for life. The death benefit is guaranteed to pay as long as you make your premium payments.
Protection Series Rates For Females
| Age | Preferred |
|---|---|
| 45 | $23.50 |
| 50 | $26.67 |
| 55 | $32.25 |
| 60 | $39.58 |
| 65 | $45.83 |
| 70 | $55.83 |
| 75 | $72.50 |
| 80 | $97.50 |
| 85 | $131.66 |
| 86 | $164.33 |
| 87 | $196.99 |
| 88 | $229.66 |
| 89 | $262.32 |
Protection Series Rates For Males
| Age | Preferred |
|---|---|
| 45 | $25.92 |
| 50 | $33.75 |
| 55 | $41.33 |
| 60 | $50.16 |
| 65 | $55.83 |
| 70 | $70.00 |
| 75 | $97.50 |
| 80 | $134.16 |
| 85 | $187.49 |
| 86 | $225.82 |
| 87 | $264.16 |
| 88 | $302.49 |
| 89 | $340.82 |
Three Additional Benefits
The final expense Preferred and Standard plans include three riders for a small additional fee.
Accelerated Death Benefit rider:
You can receive up to 50% of your death benefit early if you suffer from a qualifying medical event or condition. The minimum benefit is $1,000, and the maximum benefit is $15,000.
Your life expectancy needs to be at least 12 months. A qualifying event is a medical condition resulting in a terminal illness, chronic illness, or critical illness.
Children’s Term Insurance rider:
As part of this benefit, children up to the age of 25 will receive coverage for their education and medical expenses until they turn 25.
The coverage amount chosen for each child will need to be the same, with a maximum of $10,000.
Accidental Death Benefit rider:
In the event of accidental death, this feature doubles the death benefit for people aged 40 to 70.
AETNA Senior Insurance Cost
The Aetna senior insurance cost is set by the age at which you’re eligible to receive the modified death benefit plan. For example, a 65-year-old would pay $1,750 a year in premiums.
If you’re over 65, they will give you a monthly credit card statement to prove your eligibility.
The premium amount depends on factors such as your age and health history. The more chronic conditions you have, the higher your premium will be.
If you have no pre-existing conditions or are younger than 65 years old and healthy, getting a policy through Aetna will be cheaper.
What does AETNA Accendo Medicare Supplement plan include?
An out-of-pocket expense incurred by Medicare policyholders can be covered by Medicare supplement plans, also known as Medigap insurance.
The deductibles, copays, and coinsurance associated with Medicare Part A and Medicare Part B are likely to be high.
Therefore, Medigap plans are designed to pay these expenses once Medicare has premiums paid its portion.
Among Aetna’s final expense insurance plans, there are Plans A, B, F, G, and N, which include the same types of benefits as other insurance plans. Aetna’s senior supplemental plans include:
- Nurse hotlines 24 hours a day.
- Discounts on over-the-counter products.
- Meal-at-home services.
Companies compete based on price and extras since these plans offer the same coverage. In addition to vision, dental, and hearing coverage, some programs cover gym memberships and prescription mail-order services.
Aetna’s Medicare-related plans give you access to any healthcare provider that accepts Medicare, although you might save money if you choose a provider in your network.
Which AETNA Senior Product Do They Offer?
You can choose a range of health insurance plans from the company for yourself, your family, or your employer.
Alternatively, you may invest in a health savings account, such as an HSA, that allows you to save money tax-free for medical expenses and insurance deductibles.
To explore all the options in greater detail you’ll need to visit their website. Here are a few highlights:
Extensive Provider Network:
If you use an in-network healthcare provider, you do not need to fill out a claims form.
Preventive Care:
Preventive care is covered by Aetna insurance. You can also receive annual doctor’s visits, vaccinations, and other preventive care as part of your policy.
Family Plans:
With Aetna’s U.S. provider network, you can get care no matter where you are.
HSA:
Health plans for families include coverage for doctor’s visits, hospitalization, prescription drugs, and preventative maintenance for you, and your spouse, and also available for your children.
Claims:
With Aetna’s HSA (Health Savings Account), you can contribute money towards meeting the deductible on your health insurance plan or other health care needs.
Why Do You Need AETNA Senior Supplemental Insurance?
The best way to understand why you need Aetna Senior Insurance is to understand what it covers.
Aetna Senior Insurance is designed to provide financial protection for your parents, grandparents, and other family members who depend on you financially.
The policy covers expenses related to their health care needs such as hearing aids.
It can cover the cost of nursing facility home care and even hospice care services if needed.
It also provides permanent coverage for qualified long-term care (LTC) services, such as adult day care or home health care, typically paid for by Medicaid or Medicare programs.
The final expense policies offered are intended to cover the expenses associated with a person’s death.
When a person dies, the level death benefit plan pays 100 percent of its purchased face value. A whole life policy accumulates cash value that can be accessed later in life for loans.
Cash value from a small whole life policy should be used only for emergencies. Your beneficiary’s death benefit paid will be reduced by the amount you owe, if you don’t pay it back.
How does AETNA rate?
The BBB gives A+ ratings to Aetna senior supplemental insurance company. The Aetna Health and Life Insurance Company manage Aetna’s supplemental plans and A.M.
It has a long-term issuer credit rating of A, indicating that it can quickly repay its long-term debt.
Also, it has an A-rated rating, suggesting that it can meet its financial obligations, such as paying claims, with little difficulty.
The NAIC complaint index of 1.52 for Aetna Life Insurance Company indicates that customers are likely to be disappointed with customer service, claims processing, or other complications.
In 2019, the average expense of viewing and burial was $7,640, according to the National Funeral Directors Association. Life insurance company rates vary by gender.
A woman’s life expectancy is longer than that of a man, so she has lower life insurance rates on average than a man’s.
Due to their longer life expectancy, women are less of a risk for a life insurance company to cover, based on their gender alone, which results in lower rates for women.
How Do I Get AETNA Senior Supplemental Insurance
Aetna Senior Insurance is one of the most popular Medicare supplement insurance plans offered by Aetna. It is a Medicare Part D drug plan that offers prescription drug coverage for people over age 65.
If you’re interested in Aetna Senior Insurance, there are some things you need to know before applying.
Aetna’s senior health insurance plan also works in conjunction with the other plans you already have, including your traditional Medicare coverage.
Suppose you already have a Medicare Advantage plan (such as an HMO or PPO).
In that case, they will work with those providers to fill your prescriptions and provide other benefits like preventive care such as mammograms and colonoscopies.
AETNA Senior Advantage plan
The Aetna Senior Advantage plan offers many benefits, such as:
The program has no deductible
You can choose from a range of healthcare providers, including in-network and out-of-network
You can get preventive services at no cost, such as annual physicals and mammograms.
The Cash value Growth feature of the policy can be used in a variety of ways. You can, for instance, use it to purchase an extended-term insurance policy or to pay your premiums.
By choosing this option, you will be able to increase your flexibility while reducing your chances of your policy lapsing.
There are no copayments for prescriptions filled through your doctor’s office or pharmacy, but you’ll pay something for other types of care.
If you die as a result of an accident, Aetna will pay out your full death benefit during the waiting period. They will refund 110% of your premiums.
If you are 75 or under and you do not have or have not been treated for any “knockout” conditions, you qualify for their modified plan.
If you use a prescription drug without a prescription, it may trigger an out-of-pocket expense.
The amount depends on your drug formulary and whether you have been taking the medication continuously or not.
In addition, some drugs have higher costs if you take them at higher doses or more often than prescribed.
Is AETNA Senior Insurance Worth It?
Aetna Senior Insurance is an excellent option for seniors who want to protect their assets and income. The plans are flexible, allowing you to choose the coverage you need and how much you want to pay for it.
The company offers a variety of plans that can be tailored to your needs and budget. You can choose between two types of insurance — Medicare Supplement or Medigap — or combine those with Aetna’s Long-Term Care Insurance Plan.
Aetna offers other benefits, including medical malpractice insurance, life insurance, and supplemental health coverage.
You can add prescription drug coverage if you like (but be careful — if you use any drugs for which Aetna does not provide prescription drug coverage, you could lose out on some discounts).
How Do I Make a Claim With AETNA Senior Insurance?
All policies are different, but you can generally claim with Aetna Senior Insurance by calling their customer service department.
They will ask you some basic questions about what happened and provide you with an estimate of the cost of the claim. You can accept or deny the assessment and make a claim if it’s within your budget.
You should also contact your doctor to find out if they have any records of the injury or illness that led to the policy being taken out on your life.
If so, you’ll need to submit those documents and any other information that may help them determine how much of a claim they should approve for payment.
You’ll also want to provide documentation about any medical treatment that was required after the injury/illness occurred so that they can calculate any future claims.
AETNA Contact Information
Aetna’s general customer service number is (855) 335-1407. The number specifically for its supplemental insurance policy, 800 358-8749.
Our agency has a licensed life insurance agent who specializes in the underwriting niches for all burial insurance companies.
The agent’s goal is to find coverage on the day of your death, regardless of your moderate health conditions.
Assisting you in getting the best coverage possible will be their priority if they cannot find you coverage on the day of your death.
However, if you’re looking for a new plan, you can call a specific number. To purchase Medicare Advantage, you should contact the general number listed above.
As well as its mailing address, Aetna Inc. has a contact form on its website and a mailing address at PO Box 14088, Lexington, KY 40512.
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FAQs
AETNA Burial Insurance is a type of life insurance policy specifically designed to cover funeral and burial expenses.
AETNA Burial Insurance typically offers a fixed death benefit, simplified underwriting, and no medical exams for easy application.
Eligibility for AETNA Burial Insurance varies by age, but it’s generally available to individuals between 50 and 85 years old.
Coverage amounts for AETNA Burial Insurance typically range from $2,000 to $25,000, depending on your needs and the policy you choose.
Some AETNA Burial Insurance policies may have a waiting period before the full death benefit is available. It’s important to review the policy details.
AETNA may offer policy customization options, allowing you to select coverage amounts and additional riders to meet your specific needs.
Yes, AETNA Burial Insurance is typically available in all 50 states and the District of Columbia.
You can apply for AETNA Burial Insurance by contacting an AETNA agent or visiting their website to request a quote and start the application process.
AETNA Burial Insurance may have lenient underwriting, making it accessible for individuals with pre-existing health conditions.
A: AETNA Burial Insurance is typically designed for seniors, so it’s most commonly available for individuals aged 50 to 89.
Conclusion
AETNA is one of the most popular health insurance providers in the United States. They also offer a wide range of plans for seniors, from basic coverage to comprehensive care.
In this article, we’ve reviewed AETNA’s final expense offerings for 2022 and what you can expect from their plans. If you’re looking for health insurance coverage, be sure to get a quote from today.
