Aetna Life Insurance Review [2021]

Aetna Life Insurance Company is part of a much larger company that provides health and supplemental insurance, and it has an A.M. Best rating of "A." However, Aetna life insurance only provides group life insurance policies. Since Aetna life insurance rates are connected to your employer, you'll see monthly rates deducted from your paycheck.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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Quick Facts

  • Aetna is a health insurance company that provides group life insurance.
  • Any additional life insurance riders may cost more.
  • Your Aetna life insurance rates may be taken out of your paycheck.

Aetna Insurance Company is one of the most prominent insurance companies in the United States, but did you know there’s an Aetna Life Insurance Company? CVS bought Aetna back in 2017, but you can still receive Aetna’s services, including life insurance.

However, Aetna life insurance quotes are only available through employers who purchase group life insurance for their employees. What about permanent life insurance? Our guide has everything you need to know about Aetna life insurance rates, third-party ratings, and much

Why stop at Aetna Life Insurance Company? Enter your ZIP code in the free online quote tool above to compare quotes from multiple life insurance companies in your local area.

What does Aetna Life Insurance Company offer?

Aetna is a health insurance company that also provides Aetna Medicare and Aetna Dental. But employers across the United States may buy Aetna life insurance for its group life insurance policy.

Group life insurance provides term life insurance for several employees all at once.

Most group life insurance policies are term life policies. However, your Aetna life insurance policy covers you, your spouse (or domestic partner), and your child in case either of you passes away.

How much is the Aetna life insurance death benefit? Your coverage limit or death benefits is equal to your annual salary times two. Therefore, a yearly income of $40,000 could mean your death benefit is $80,000.

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What Aetna life insurance riders are there?

As a policyholder of Aetna life insurance, you can ask for additional benefits. Any perks on a life insurance policy are often called a rider. Under an Aetna group life policy, customers can request these riders:

Accidental death and accelerated death benefit riders are standard riders on many insurance plans. However, the waiver-of-premium can suspend your monthly premiums if you’re having economic hardship.

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How much are Aetna life insurance rates?

Aetna’s group life insurance rates depend on your age and the coverage limit amount that exceeds $50,000.

Although group life insurance rates depend on your employer, we found Aetna’s group life calculator and calculated how much you could pay for group life insurance with an employer. Here are the results.

Accordia Life vs. State Farm Average Monthly Life Insurance Rates for Women (Non-Smokers)
Age of Female Non-SmokerAccordia Life Average Monthly Rates $100,000/20-yearState Farm Average Monthly Rates $100,000/20-year
25$10.68$12.70
30$10.77$13.22
35$11.57$15.40
40$13.71$18.62
45$17.53$22.97
50$23.85$29.32
55$33.38$38.11
60$52.51$60.20
65$95.68$97.44
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Life insurance increases as you get older. However, a conversion rider will allow you to move your group life insurance death benefits to an individual whole life insurance policy.

If you have a group life Aetna policy through your policy, consult your human resource coordinator for more details.

Your employer may ask you to create an Aetna login so that you can manage your account online. To sign up for Aetna life insurance, you have to be with a company or business that has purchased Aetna life insurance.

What are Aetna’s financial strength and credit ratings?

Aetna insurance is one of the most financially stable insurance companies in the United States. The latest A.M. Best rating is A. It’s not the best rating, but it shows Aetna has a stable financial outlook, and it has an excellent ability to meet insurance obligations.

Under Fitch and S&P Global, Aetna has an AA-. Again, it’s not the best financial strength rating. However, it shows that Aetna is doing an excellent job at maintaining a strong financial standing.

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What is the history of Aetna Life Insurance?

Henry Leavitt Ellsworth started Aetna in 1819. Two-hundred-two years later, the company is still going strong. It’s named after Mount Etna, the volcano in Europe.

In 2017, Aetna was bought by CVS Health. By November 2018, CVS Health had successfully acquired Aetna. Although Aetna ownership changed hands, it continued operating its insurance services, including group life insurance.

Aetna has over 47,000 employees and earns over $60 billion in revenue.

By 2018, CVS had successfully acquired Aetna. In the same year, Aetna was sued for $26.5 million by Ron Cunningham for “insurance bad faith.” Although Aetna has its share of lawsuits, its overall revenue can handle the legal litigation.

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What’s the bottom line?

Ultimately, Aetna life insurance is connected through an employer. If you’re an entrepreneur or business owner, you may want to consider this insurer for your employees.

Customers can buy affordable Aetna life insurance under the right circumstances and get protection for employees. However, Aetna doesn’t provide various types of term life insurance.

Now that you know more about Aetna life insurance, use our free comparison tool to compare multiple companies in your area to see what policies are available.

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