Aetna Final Expense Insurance Review: 2022 (CVS Health)

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Updated August 12, 2022

Many final expense life insurance companies claim to offer excellent coverage and protection, but only a handful do.

Aetna is highly ranked on our best burial insurance companies list because it provides an affordable option to prepare for funeral expenses. The Aetna final expense insurance review shows why it is an excellent option for seniors.

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Aetna Final Expense Whole Life Insurance Plan Details

Aetna final expense life insurance has two plan options, Accendo Level and Modified. These plans are whole life insurance meaning the monthly premium will never increase, the coverage will not expire, and the cash value will grow over time.

Along with the permanent coverage, the Level plan has industry-leading low monthly premiums, making Aetna’s final expense life insurance a great choice.

Aetna Accendo Plan Details

Plan Name Level Modified
Coverage Amount $2,000 – $50,000 $2,000 – $25,000
Age Ranges 40 – 89 40 – 75
Waiting Period No Yes
Permanent Policy Yes Yes
Medical Questions Yes Yes
Health Exam No No
Builds Cash Value Yes Yes
Additional Riders Yes No

Aetna Accendo Level (Preferred & Standard)

The Aetna whole life insurance Level product is meant for seniors in good health and offers a Preferred and Standard plan. Both plans provide burial insurance with immediate coverage. The difference is that the Preferred plan is less expensive and has stricter underwriting standards.

Along with low premiums and great plan features, life insurance for seniors over 85 is available with the Aetna Level plan.

This CVS Accendo policy is one of the best coverage options on the market.

Quick Facts About Aetna Accendo Level

  • Age Eligibility: 40 – 89
  • Coverage Amounts: $2,000 – $50,000 (depending on age)
  • State Availability: 49 states & DC (excluding NY)
  • Medical Exam: No
  • Health Questions: Yes
  • Waiting Period: No
  • Permanent Coverage: Yes
  • Builds a Cash Value: Yes

Preferred Vs. Standard 

Aetna Accendo offers a Preferred and Standard plan within the Level product. Both plans have the same benefits, including burial insurance with no waiting period. Where the difference comes into focus is the monthly premium you will pay. Approval for the Preferred or Standard plan will be directly tied to your medical history.

Preferred: To be approved for the Preferred plan, you must be in excellent health. If you can medically qualify, you will receive the lowest monthly premium that Aetna’s final expense life insurance offers.

Standard: The Standard plan is slightly more expensive due to lenient health standards. You must still be in good health, but a few additional medical conditions are accepted that would not be approved with the Preferred plan. Specifically, the Standard plan will accept medical conditions, including COPD, Parkinson’s Disease, multiple sclerosis, and lupus.

Maximum Coverage Amount by Age

Regardless of whether you qualify for the Preferred or Standard plan, the applicant’s age will determine the maximum coverage amount that can be taken out.

  • 40 – 55: $50,000
  • 56 – 65: $40,000
  • 66 – 75: $30,000
  • 76 – 89: $25,000

Does Aetna Have Whole Life Insurance?

The Aetna Accendo plan is a whole life insurance product that includes three permanent benefits. The price will never increase, the coverage will never terminate, and the policy builds a cash value over time. These three lifelong benefits allow policyholders to plan for the future and have certainty about their life insurance needs.

Three Additional Benefits

You can add three riders to Aetna’s final expense Preferred and Standard plan for a small additional cost.

Accelerated Death Benefit rider: Receive up to 50% of the death benefit paid out early if you have a qualifying medical event or condition. A qualifying event is a medical condition that results in a terminal, chronic, or critical illness. Additionally, your life expectancy needs to be 12 months or less. The minimum benefit is $1,000, and the maximum benefit is $15,000.

Accidental Death Benefit rider: For people who took out their policy at ages 40 – 70, this feature would double the death benefit if an accidental death were to occur.

Children’s Term Insurance rider: This benefit provides coverage for children through the age of 25 at the time of issue. The benefit is available for $2,500 up to a maximum of $10,000 per child. The coverage amount chosen will need to be the same for all covered children, with a limit of 9.

elderly man with grandchild on lawn

Aetna Accendo Modified

This Modified Aetna burial insurance plan is whole life insurance coverage. It was designed for applicants with health concerns that cannot qualify for the Level coverage option. Although you must still medically qualify for this funeral insurance policy, the underwriting is more lenient.

Quick Facts about CVS Modified Accendo Plan

  • Age Eligibility: 40 – 75
  • Coverage Amounts: $2,000 – $25,000
  • Medical Exam: No
  • Health Questions: Yes
  • Waiting Period: Yes
  • Permanent Coverage: Yes
  • Builds a Cash Value: Yes

Modified Death Benefit

This plan has a 2-year waiting period and is considered a standard, modified whole life plan. What this means is that if you pass away from a non-accidental death within the first two years of the policy issue date, your beneficiary will receive all premiums paid plus 10%. The beneficiary would receive the full death benefit if death occurs after the two-year waiting period.

Included Accidental Death Benefit

During the first two policy years, the beneficiary would receive the total payout amount if the insured’s death were deemed accidental. This benefit is included with the Modified plan at no additional cost.

Aetna Accendo Final Expense Insurance Quotes

Aetna’s Accendo quotes are competitive and provide excellent value. This plan is on par with Mutual of Omaha burial insurance, another a top coverage option.

Female

$10,000 of Coverage

Age Preferred Standard Modified
45 $26 $30 $35
50 $27 $37 $39
55 $34 $44 $49
60 $41 $51 $60
65 $48 $62 $68
70 $58 $77 $89
75 $76 $98 $144
80 $101 $140 NA
85 $137 $220 NA
89 $275 $390 NA

Male

$10,000 of Coverage

Age Preferred Standard Modified
45 $30 $34 $41
50 $34 $41 $49
55 $44 $48 $58
60 $51 $62 $78
65 $58 $79 $102
70 $73 $104 $122
75 $101 $144 $185
80 $140 $203 NA
85 $196 $312 NA
89 $358 $507 NA

Super Preferred Rates with Aetna Accendo Medicare Supplement Plans

You will receive a discount if you use Aetna for your final expense life insurance and medicare supplement needs. To obtain the Super Preferred life insurance rates, you will have to currently hold an Accendo medicare supplement plan purchased within the past six months (180 days).

CVS Health Final Expense Underwriting Questions

The health questions asked on the Aetna final expense whole life insurance application are listed below. Consider this your complete Aetna final expense underwriting guide.

Part A Medical Questions

Part A

If you answer “yes” in part A, you are not eligible for coverage. Do not complete or submit this application. If all “no,” continue to the next section.

1. Are you currently:
  • Confined in or been advised to enter a hospital, nursing home, skilled nursing facility, psychiatric facility, correctional facility?
  • Receiving or been advised to receive home health care or hospice care?
2. Do you use a wheelchair or mobility scooter, or do you have any physical or mental impairment requiring assistance from anyone with the following activities of daily living:
  • taking medications
  • bathing
  • dressing
  • eating
  • toileting
  • getting in or out of bed or chair
  • or moving about
3. Within the past year, have you:
  • Used or been advised to use oxygen equipment to assist with breathing (excluding CPAP for sleep apnea) or had or been advised to have kidney dialysis?
  • Been advised to have any medical procedure, surgery, or a diagnostic test that has not yet been started, completed, or for which results are unknown, excluding tests related to the Human Immunodeficiency Virus (HIV)?
4. Have you ever received, or been advised to receive, an organ or bone marrow transplant or an amputation due to any disease or complications of diabetes?
5. Have you ever been diagnosed by a member of the medical profession or tested positive for:
  • Human Immunodeficiency Virus
  • AIDS Related Complex (ARC)
  • Acquired Immune Deficiency Syndrome (AIDS)
6. Have you ever been diagnosed with, received, or been advised to receive treatment or medication for:
  • Amyotrophic Lateral Sclerosis (Lou Gehrig’s Disease), Huntington’s Disease, or sickle cell anemia?
  • Alzheimer’s disease, dementia, or mental incapacity?
  • Congestive heart failure, pulmonary fibrosis, any terminal condition, or end-stage disease?
  • Cerebral palsy, cystic fibrosis, muscular dystrophy, or un-operated heart defects?
7. Within the past 2 years, have you been diagnosed with, received, or been advised to receive chemotherapy or radiation for any form of cancer (excluding Basal or Squamous cell skin cancer)?
8. Have you ever been diagnosed with more than one occurrence of the same or different type of cancer?

Part B Medical Questions

Part B

If any “yes” answers in part B select the Modified Plan. If all “no” continue to the next section.

1. Within the past 2 years, have you been diagnosed with, received, or been advised to receive treatment or medication for:
  • Alcohol or drug abuse (prescribed or illegal), or used illegal drugs; or been convicted of or plead guilty to driving under the influence?
  • Complications of diabetes such as diabetic coma, insulin shock, retinopathy (eye disorder), nephropathy (kidney disorder), or neuropathy (nerve, circulatory disorder)?
  • Kidney or liver disease?
2. Within the past year, have you been diagnosed with, received, or been advised to receive treatment for:
  • Angina (chest pain), heart attack, cardiomyopathy, or any type of heart or circulatory procedure or surgery?
  • Stroke or transient ischemic attack (TIA/mini-stroke), aneurysm, or brain tumor?

Part C Medical Questions

Part C

If any “yes” answers in part C, select the Standard Level Plan. If all “no” answers in parts A, B, and C, select the Preferred Level Plan.

1. Within the past 2 years, have you been diagnosed with, received, or been advised to receive treatment for:
  • Angina (chest pain), heart attack, cardiomyopathy, or any type of heart or circulatory procedure or surgery?
  • Stroke or transient ischemic attack (TIA/mini-stroke), aneurysm, or brain tumor?
2. Have you ever been diagnosed with, received, or been advised to receive treatment or medication for:
  • Parkinson’s disease, Multiple Sclerosis, or Systemic Lupus (SLE)?
  • Chronic obstructive pulmonary disease (COPD), chronic bronchitis, emphysema, or any other chronic respiratory condition?

Merger and Acquisitions journal

CVS/Aetna Company Details

What is Aetna’s Company History?

Aetna was founded in 1853 and has developed into an industry-leading company. Known primarily in the healthcare market, Aetna has a long history of financial stability and delivering on its promises. Aetna has a wide range of companies that are under its corporate umbrella.

The company responsible for Aetna’s burial insurance division is Accendo Insurance Company. However, a senior final expense insurance policy would have the financial backing of Aetna and, ultimately, CVS Health.

Who Bought Aetna Life Insurance Company?

As of 2018, Aetna was acquired by CVS Health. The goal of this acquisition was for CVS to establish itself as the nation’s premier health innovation company. Backed by the machine of the CVS Health family of companies, Aetna’s Accendo Life Insurance Company has found its place in the final expense market.

CVS Health makes the case as “the nation’s premier health innovation company helping people on their path to better health.” This entity has some impressive numbers with its conglomerate of companies and affiliates.

  • Over 9,800 retail locations (70% of Americans live within 3 miles of a CVS)
  • Roughly 1,100 medical clinics
  • Pharmacy Benefits Manager with over 93 million members
  • An estimated 39 million people are served through their health insurance products and related services

Aetna Senior Supplemental Insurance

CVS and Aetna own and control many companies. In the growing niche of senior products, we turn to Aetna Senior Supplemental Insurance, a branch of CVS Health.

The list of companies that Aetna Senior Supplemental Insurance control include:

  • Aetna Health and Life Insurance Company
  • Aetna Health Insurance Company
  • Aetna Life Insurance Company
  • Accendo Insurance Company
  • American Continental Insurance Company
  • Continental Life Insurance Company of Brentwood, Tennessee
  • Coventry Health and Life Insurance Company
  • First Health Life and Health Insurance Company

How to Purchase Coverage

You can purchase Aetna Accendo final expense insurance over the phone. This process takes roughly 30 minutes, and you will be required to answer a series of health questions to be eligible for coverage.

Remember that the Aetna funeral insurance plan may not be the best option for your medical history. Work with an insurance agency that has access to multiple burial insurance policies.

Why Willamette Life?

Willamette Life is an insurance agency helping seniors find final expense insurance. Our agents are experts in the Aetna burial insurance plan and many other policies. We will help guide you through the process of securing the best coverage.

Give Willamette Life a call at 844-576-0019

Final Thoughts About Aetna Funeral Insurance

a. This Aetna final expense insurance review shows the Accendo Level plan offers some of the lowest premiums on the market.

b. Both Aetna burial insurance plans offer whole life benefits meaning your coverage will never expire, and the premium will never increase. Also, three great protection benefits (riders) can be added to your Level plan.

c. The CVS life insurance plan should be a top option for healthy seniors who can qualify for this coverage.