Ron Attias is a licensed insurance broker. He has no particular loyalty to any one insurance company, so he is able to shop all major insurance carriers. This means that you always get the BEST plan at the LOWEST price. Each plan can be customized to fit your specific healthcare needs and budget.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years Leslie Kasperowicz

UPDATED: Feb 12, 2021

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Here’s what you need to know…

  • Aetna Final Expense insurance policies are for individuals who wish to cover the expenses associated with their death
  • A level death benefit plan pays 100 percent of the purchased face value when the insured dies
  • Whole life policies accumulate cash value, which you can use for a loan later in life

If you’re wondering, is Continental Life part of Aetna? Let us quickly explain. American Continental Insurance Company, an Aetna company, is an underwriter for the final expense products. Continental Life Insurance Company (CLI) began in 1983 and was Aetna’s support team for their senior supplemental insurance.

In 2005, American Continental Insurance Company (ACI) was established. In 2011, they became a member of the Aetna family of companies. CLI and ACI are rated A (Excellent) by A.M. Best. If you are interested in Aetna’s final expense, whole life insurance, or term life policies you owe it to yourself to read our American Continental final expense review, which includes sample life insurance rates from the top life insurance companies.

Don’t wait — Click our FREE life insurance quote tool to compare rates before diving into our American Continental final expense insurance company review. Get started now.

Shopping for American Continental Final Expense Quotes

It is important to compare different companies and policies before making a decision. If you are interested in a final expense policy, then you may want to refer to a checklist that estimates how much your final expenses will be like this one from the Federal Trade Commission. The National Funeral Directors Association statistics show that in 2019, the average cost for a viewing and burial was $7,640.

Life insurance company rates are impacted by gender. Women have lower rates on average than men because women’s life expectancy is longer. Because women have a longer life expectancy, they are less of a risk for a life insurance company to cover, based on gender alone, and therefore they get a lower rate.

Now, let’s take a look at some actual rates for Aetna senior products.

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Sample Aetna Final Expense Rates

It is important to shop around to find the best rates. The chart below will give you an idea of what you can expect to pay for Aetna’s final expense insurance for non-smokers at key senior ages and coverage amounts.

Average Monthly Aetna Final Expense Rates
Policyholder Age$5,000 - Male$5,000 - Female$20,000 - Male$20,000 - Female$35,000 - Male$35,000 - Female
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As you can see, females tend to pay less for Aetna final expense life insurance than males. It is also true that the older you are when you purchase the Aetna final expense insurance, the higher your final expense rates will be, regardless of gender. So, as with any American Continental whole life insurance (i.e., Aetna final expense whole life insurance) or term life insurance, you’ll want to lock in those good rates as early as possible.

Also, keep in mind that Aetna’s final expense is whole life insurance, which is why the rates tend to more in line with other whole life insurance plans. That also means the rates will be higher than your typical term life insurance quotes.

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American Continental Final Expense Policies

Final expense policies are for individuals who only have one goal in mind: To cover the expenses associated with the charges and affairs related to their death.  It is more important now than ever to get insurance to help pay for your final expenses since, according to the U.S. Bureau of Labor Statistics, it has gotten increasingly more expensive to die in the last 30-years.

Unlike term life insurance, which lasts for a specified period, final expense policies offer permanent coverage without the need for the applicant to undergo an exam.

So, if you are a veteran then you can contact the VA and see if you qualify for the final expense benefits, like the burial benefits they offer.

Before you submit an Aetna final expense application, you’ll need to know what’s on offer.

They have a level premium payment throughout the insured’s lifetime. The face value isn’t high, with benefits ranging from $3,000 to $35,000. Aetna offers three types of final expense policies: Level, graded, and modified benefit plans.

Your current health and age will have the most significant bearing on which plan you will be eligible for and the amount. Let’s take a look at each plan. Remember, the company offers more policies than Aetna final expense. Whole life insurance and term life insurance are offered by the company too.

Level Benefit Plan

A level death benefit plan pays 100 percent of the purchased face value when the insured dies, whether days after buying the policy or years later. You must answer “no” to all the health questions on the application and must not have any significant health conditions in the past 24 months or you will not be eligible for the level benefit plan life insurance. Heart attack, internal cancer, or COPD among a few others.

With the level benefit plan, the full death benefit is available immediately. The issue ages and maximum benefit are as follows:

  • Ages 60-65, $35,000
  • Ages 66-80, $25,000
  • Ages 81-85, $15,000
  • Ages 86-89, $10,000

The minimum coverage amount is $3,000.

Graded Benefit Plan

A graded benefit plan is suitable for those who are not in the best of health or have been diagnosed or treated for health conditions that are offered by some life insurance. Ulcerative colitis, cancer, and Crohn’s disease are among some of the health conditions that this plan is suitable for. As with other types of life insurance coverage, the healthier you are when first buying the policy, the less you would pay and vice versa.

Expect to pay more for this plan. Also, because the insurer is taking an increased risk by insuring you, your beneficiaries will only collect 40 percent of benefit amount for the first year, 75 percent for the second year, and only in year three and beyond will they be able to receive 100 percent of the purchased benefit amount. With the plan, if your death is accidental then the full benefit will be available immediately.

Keep in mind it still may be a good option for you to buy this plan, but you may want to check other companies as they all have different questions on the application that are translated into various plans. When one will issue you graded, another will issue your level benefit.

The issue ages and maximum coverage amounts for this policy include:

  • Ages 60-65, $35,000
  • Ages 66-80, $25,000

The minimum coverage amount for the policy is $3,000.

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Modified Benefit Plan

A modified benefit plan is for those who can’t qualify for the graded benefit plan and are more challenged health-wise.  When you have health problems, the carrier is taking even more risk by offering coverage, so they hedge their odds by modifying the death benefit entirely.

If you die within two years of buying the policy, then your beneficiaries will receive a return of premium. This will return premiums already paid plus 10 percent in interest. Only in year three and after will they be entitled to the full death benefit amount. In other words, you can’t die for the first two years and receive the total death benefit.

You may want to look around at guaranteed issue life insurance companies and policies instead of buying this plan. It may cost less and you wouldn’t need to answer any health questions.

Note: Any death result from an accident will pay 100 percent of the death benefit. The issue ages and coverage amounts for this policy range from:

  • Ages 60-65, death benefit: $35,000
  • Ages 66-75, death benefit: $25,000

The minimum amount of coverage is $3,000.

Cash Value Flexibility

As mentioned above, whole life policies accumulate cash value, which you can use for a loan later in life or when you surrender the policy. Aetna offers a unique benefit called a non-forfeiture option. Its purpose is to reduce the risk of your coverage lapsing by mistake, leaving you without any protection.

In essence, they use your cash value funds to pay your policy if your premium remains unpaid at the end of the grace period. This will save you from buying a new policy and go through life insurance underwriting again. You will need to pay back the amount they used, including added interest. If you don’t they will deduct it from the total benefit they will pay your heirs.

This is a good option, in my opinion. You will be surprised to find out how many people forget to pay their policy, or change a bank account number and forget to update it with the carrier, only to find out a month later when they get a cancelation letter from the insurer.

American Continental Final Expense: The Bottom Line

American Continental’s final expense through Aetna is one of a few companies that offer coverage for 89-year-old individuals. They are competitive, price-wise, but you still want to compare based on your current age and the plan you are qualified to see if you can do better with other companies.

They also don’t have height and weight restrictions.

Life insurance for overweight individuals can be harder to find because of eligibility restrictions so if you are overweight, then you may want to look into these plans. Avoid the modified death benefit plan. You can do better with AIG or Gerber life guaranteed issue plans. At the end of the day, it is solely your responsibility to compare plans and rates and choose the one that is best for you.

Using a broker can free you from doing that. We get paid by the carrier, and it costs you nothing to use our advice and expertise.

Now that you’ve read our American Continental final expense insurance review, click our FREE life insurance quote tool to compare life insurance rates from the best life insurance companies around. Get started now.

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Frequently Asked Questions: American Continental Final Expense

Here are some frequently asked questions and their answers.

 #1 – What else does Aetna provide and what all does Aetna insurance cover?

Aetna health and life insurance company offers Aetna senior products, vision, pharmacy, and dental plans. They also offer Medicare plans and services. Aetna offers behavioral health programs and medical management programs. Depending on what plan you enroll in will determine with benefits you will receive from the company.

Aetna Senior Supplemental Insurance uses Emdeon as its electronic payment and remittance reporting provider for its Medicare Supplement plans.

You can ask your American Continental agent if the electronic payments and American Continental remittance is available online as well. American Continental Life supplemental insurance policy would be Aetna supplemental policies that American Continental underwrites for.

#2 – Can I contact an Aetna agent online about my policy?

Aetna does provide online portals for their customers. The company also provides a portal for its agents to do business online. In order to contact your insurance agent, you can sign in to your account using your Aetna final expense agent login, Aetna Continental life insurance login, or member login. All of the information on the best way to contact your agent should be there. You can also call the number to the company on your insurance card.

#3 – Is Continental Life part of Aetna?

Yes, Continental Life Medicare Supplement insurance has been a subsidiary of Aetna since 2011.

#4 – Is American Insurance the same as Aetna?

American Continental insurance company is a subsidiary of Aetna. American Insurance is not affiliated with Aetna.