Cigna Funeral Insurance Review: Details Unlocked

Cigna Funeral Insurance Review
Cigna Funeral Insurance Review: Details Unlocked

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When planning for funeral costs and final expenses, it is important that you use a reputable company.

Many aspects determine if a burial insurance company is great. Important factors are competitive pricing, great financial stability, and plan structure.

Our industry experts have reviewed the Cigna burial insurance plan to see how they compare to the competition.

Cigna Funeral Insurance Review

Cigna was formed via a merger in 1982. This was done by combining Connecticut General Life Insurance Company (CG) and INA Corporation. Since this deal was put into place, Cigna has become one of the most well-known brands in all of the United States.

Cigna is known widely for health insurance, but they have many avenues that help push the company’s success forward. In this article, we will focus exclusively on the funeral insurance products that are offered.

Company Details

  • Established: 1982
  • A.M. Best Financial Rating: A (excellent)
  • Headquarters: Bloomfield, CT

Plan Types

  • Plan 1: Level Benefit Plan
  • Plan 2: Modified Benefit Plan

Every Cigna funeral insurance plan comes with three permanent whole life benefits.

Coverage Never Terminates: The policy will never expire or decrease coverage. This allows families to be prepared and guarantee that there will be a financial distribution when the insured passes away.

Price Never Changes: The premiums will never increase, allowing seniors on a fixed income to be prepared for monthly costs well into the future.

Builds Cash Value: With both plans, a cash value will start to build after the third policy year. Over time this amount will grow and can be borrowed from.

Level Benefit Plan

Plan 1: Level Benefit Plan

Quick Facts About This Plan

  • Age Eligibility: 50 – 85
  • Coverage Amount: $2,000 – $25,000
  • State Availability: 45 states (excluding CA, DE, FL, MT, NY)
  • Medical Exam: No
  • Health Questions: Yes
  • Waiting Period: No
  • Permanent Coverage: Yes
  • Builds a Cash Value: Yes
  • Smoking Rates: Yes

Immediate Coverage

This whole life plan has no waiting period and day one coverage. This gives seniors peace of mind knowing a Cigna life insurance payout will be guaranteed whenever their health declines.

Cigna Whole Life Insurance Spousal Premium Discount

If you applied for coverage and your spouse also applied for a policy, then the youngest spouse would be eligible for a 5% discount off of their premium. The couple needs to apply for coverage at the same time to receive this discount. This is a unique feature that can be very useful.

Additional Benefits and Riders

This plan offers two additional benefits that can be added to the plan.

Terminal Illness Accelerated Benefit: The Terminal Illness Accelerated Benefit is a provision that will give the proposed insured additional funds to help them pay for medical expenses and other financial needs. The maximum you can request is 50% of the death benefit before passing. This feature is included with the plan at no additional cost.

Accidental Death Benefit: This benefit covers the policyholder for accidental death. This additional benefit will provide coverage until age 100. You can add the rider for an additional amount of coverage ranging from $10,000 – $50,000. The rider is only payable if death is a direct result of an accidental injury and occurs within 180 days of the accident. There is an additional cost to add this benefit to your plan.

Cigna Burial & Final Expense Insurance Quotes

The Level Benefit Plan has comparable premiums with competitors like Foresters Financial.

Monthly Premiums

$10,000 of coverage

Age Female Male
50 $21 $30
55 $27 $37
60 $34 $46
65 $44 $58
70 $58 $75
75 $77 $100
80 $103 $132
85 $139 $180

Modified Benefit Plan

Plan 2: Modified Benefit Plan

Quick Facts About This Plan

  • Age Eligibility: 50 – 85
  • Coverage Amount: $2,000 – $25,000
  • State Availability: 45 states (excluding CA, DE, FL, MT, NY)
  • Medical Exam: No
  • Health Questions: Yes
  • Waiting Period: Yes
  • Permanent Coverage: Yes
  • Builds a Cash Value: Yes
  • Smoking Rates: Yes

Two-Year Waiting Period

Cigna’s Modified whole life plan has more lenient medical questions than the Level plan. With flexible underwriting comes a higher risk for the carrier. The insurer adds a waiting period to lower the risk that they will be taking on.

Death Benefit Payout

  • Year 1: All paid premiums returned plus 10%
  • Year 2: All paid premiums returned plus 10%
  • All other years: Full coverage amount

Spousal Premium Discount

Like the Level Benefit Plan, this coverage also comes with a spousal premium discount. This lowers the burial insurance costs for coverage.

Additional Benefits and Riders

An accidental death benefit can be included in the policy. This means that if the insured were to pass away by accident, your beneficiary would be entitled to an additional amount of money separate from the agreed-upon coverage amount. This benefit can be added to the plan for an additional charge.

Cigna Burial Insurance Quotes

Cigna’s final expense insurance Modified Plan has higher premiums than some of its competitors like the American Amicable Graded Death Benefit plan.

Monthly Premiums

$10,000 of coverage

Age Female Male
50 $33 $47
55 $42 $59
60 $54 $75
65 $69 $94
70 $88 $118
75 $111 $147
80 $138 $182
85 $170 $224

Cigna Burial Insurance Health Questions

Listed below is a series of 11 health questions. Depending on how the applicant answers the questions, they will either be denied coverage, approved for the Modified Benefit Plan or the Level Benefit Plan.

medical questions 1 - 7

1. Has any applicant ever been diagnosed or tested positive by a member of the medical profession as having:

AIDS, ARC, or HIV?

2. Are you currently waiting to receive or have you received:

an organ transplant (other than a cornea) or have you ever been diagnosed, treated, or advised by a member of the medical profession as having Amyotrophic Lateral Sclerosis (ALS), Huntington’s disease or any terminal illness?

3. Is the applicant currently:

paralyzed, bedridden, or receiving hospice, home health care, confined to a hospital, nursing home, or other facility, or has confinement been recommended by a member of the medical profession?

4. Within the past two years, has any applicant:

been diagnosed by a member of the medical profession for a heart attack; cardiomyopathy; angina, angioplasty, stent placement, coronary artery bypass surgery, or other heart surgery?

5. Within the past two years, has the applicant been diagnosed or treated by a member of the medical profession for:

congestive heart failure unresolved aneurysm, any respiratory condition requiring the use of oxygen, any kidney disease requiring dialysis, chronic hepatitis, cirrhosis, other liver disease or chronic pancreatitis?

6. Has any applicant ever been diagnosed as having or treated by a member of the medical profession for:

Alzheimer’s disease or dementia?

7. In the past twelve months, has any applicant been diagnosed or treated by a member of the medical profession for:

cancer (except basal cell carcinoma) or has any applicant ever had a recurrence of or metastasis of cancer (except basal cell carcinoma)?

medical questions 8 - 11

8. Has the Applicant been diagnosed or treated by a member of the medical profession as having:

diabetes which was diagnosed before the age of 30 or diabetes requiring more than 50 units of insulin to control, or suffered complications from diabetes such as diabetic coma, insulin shock, or diabetic neuropathy?

9. Within the past two years, has the applicant been diagnosed or treated by a member of the medical profession for any of the following:

Emphysema, COPD, or chronic bronchitis, stroke or Transient Ischemic Attack (TIA), kidney disease other than a kidney infection or kidney stones, Multiple Sclerosis or Parkinson’s Disease

10. Within the past four years, has any applicant been diagnosed or treated by a member of the medical profession for:

cancer (except basal cell carcinoma)?

11. Within the past year, has any applicant been treated, counseled, or been recommended to seek treatment for:

alcoholism, alcohol abuse, or any drug substance abuse?

medical questions level benefit plan

Cigna Final Expense Insurance FAQ’s

Is Cigna a Good Insurance Company?

Cigna Insurance is a financially strong company with high customer service ratings. As a trusted source in the senior care industry, this company receives high marks for its products and services.

How is Cigna Rated?

Cigna has an A.M. Best rating of A (excellent). This means the company is financially stable and has the resources to pay out a filed claim.

What is the Cigna Life Insurance Phone Number?

To reach Cigna life insurance customer service, dial 1-800-238-2125.

What is Cigna Supplemental Benefits?

Within the massive umbrella of Cigna Health, there is a portion devoted to supplemental benefits. The subsidiary that underwrites for this part of the company is called Loyal American Life Insurance Company.

Loyal American underwrites the following products for Cigna:

  • Lump-Sum Heart Attack and Stroke
  • Lump-Sum Cancer
  • Cancer Treatment
  • Funeral Insurance

senior woman smiling

Final Thoughts About Cigna Burial Insurance

a. During this Cigna funeral insurance review, it is clear this carrier has the pedigree and financial backing to support its products.

b. The Level Benefit is a solid product with competitive premiums. The Modified Benefit is not a recommended plan, and there are better options on the market.

c. Find an independent agency that specializes in final expense insurance. This will give you confidence that you have a plan that is best for you.

At Willamette Life, we specialize in funeral insurance policies and can find you the best plan at the lowest possible price.

Call us at 844-576-0019

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