Aetna Life Insurance Review

It’s a good idea to take advantage of any life insurance coverage provided by your employer via Aetna. It’s the most cost-effective alternative for many policyholders since the insurer compels their employers to fund at least half of your insurance premiums. However, Aetna does not allow you to customize your child’s coverage under your policy.

Pros and Cons of Aetna

Aetna Life Insurance Review - Aetna Life Insurance Logo

Pros

  • Plans include coverage for you and your dependents.
  • Half of the cost is covered by your company.
  • Aetna is well-known in the insurance industry.
  • Easily transportable in case your career path changes.

Cons

  • Plans do not allow for enough personalization.
  • Life insurance isn’t the major service provided by the group health plan.

Aetna life insurance rates

For more information on Aetna’s cost, speak with your employer, and keep in mind that your premium will vary based on a variety of factors, including your age, gender, health, region, and way of life.

When it comes to employee-only coverage, Aetna expects businesses to foot the bill for at least 50% of your policy or $75,000. As a result, you have a good chance of receiving a competitive interest rate.

How to get a quote from Aetna life insurance

Because Aetna only sells insurance via employers, speak with yours about signing up.

What types of life insurance coverage does Aetna offer?

It is dubbed “group life insurance” by Aetna since you have chosen a policy type for your employees as well. Here’s an example of what Aetna via your company may offer:

  • Basic Group Life Insurance. It protects you, your spouse, and any children who are financially dependent on you in the event of your death. The benefit may be as much as one or two times your yearly income, depending on your company, and your employer helps cover the cost of the monthly premiums.
  • Optional Group Life Insurance. If you desire a more substantial benefit, you may add this to your basic plan and cover yourself or members of your family as well. Monthly premiums are paid, and they may increase as you become older.

You’ll be able to change your group whole life insurance policy into an individual whole life policy if you quit your employment. This sort of insurance policy is often renewable indefinitely.

What riders can I add to my policy?

To meet your specific requirements, Aetna provides a variety of riders, including the following:

  • Accelerated death benefit rider. There’s a provision in your policy that kicks in if you’re diagnosed with a terminal disease and get a part of your death benefit.
  • Rider for accidental death insurance. If you’re killed in a car accident, this add-on will pay out an extra benefit to your beneficiaries.
  • Rider for the conversion process. This add-on lets you change your term life insurance policy to a permanent one after a certain amount of time.
  • Rider for portability. This rider ensures that if you move employment and have an Aetna group life insurance policy, your coverage will follow you.
  • Rider waiving the right to a higher price. This rider waives your premiums if you become disabled and are unable to work as a result.

Aetna life insurance reviews and complaints

A high grade implies stability and good status with the government, even if it is not recognized by the Better Business Bureau. Aetna hasn’t responded in depth to consumer feedback, which gives them poor star ratings.

Although AM Best rated the company well, this means that it is in outstanding financial health. For the last 18 years, it has been a Fortune 500 firm, and it is currently owned by CVS Health, a well-known industry leader.

About Aetna

Aetna has its headquarters in Hartford, Connecticut, and is a major insurance provider in the United States. Mount Etna, a live volcano off the coast of Sicily, inspired the fund’s name and it was established as an annuity fund in 1850.

More than 23.5 million individuals in 19 U.S. states are served by Aetna’s primary service: healthcare. With aspirations to develop “a community-based, open health care paradigm”, CVS bought it in 2018. It was number 43 on the Fortune 500 list at the time of this writing.

How does Aetna protect my data?

According to Aetna, it will not disclose your information for marketing reasons and will encrypt all communications with password security. Aetna commits to only utilize your data for normal company activities like processing transactions and maintaining your account.
Its security measures are in line with federal regulations, so no one may access your data without your permission. A legitimate security certificate secures your information while you’re on the website, however cookies are used to keep tabs on your activities. Aetna promises to utilize as little as possible of Social Security numbers.

Aetna Life Insurance Claim

Claim status may be checked or initiated by calling 800-523-5065 from 8 a.m. to 7 p.m ET daily.

Depending on the situation, the claim may also be initiated by the insured’s employer.

Visit our review of AccuQuote Life Insurance Review for one more life insurance review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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