Aetna Accendo Insurance Company Review: Aetna Senior Products & More
Easy Navigation
Aetna and CVS are huge companies with a large family of companies all connected to provide excellent coverage and customer service to their customers. The Aetna Accendo Insurance Company is a subsidiary of those companies that provide final expense insurance to their policyholders. We’ll show you exactly what you need to know about the Accendo Insurance policies — including prices.
Are you looking for final expense life insurance? Call us at (866) 786-0725, and we will show you all the plans available to you and your budget. You can also use our free quoting tool to see the available plans.
Aetna Accendo Insurance Company History
Aetna Accendo Life Insurance Coverage Options
Accendo Preferred and Standard Level Plan
Aetna’s Accendo Final Expense Level Plan is ideal for seniors in good health. The package provides the added benefit of no waiting period meaning coverage starts on day one. The issuing ages for this benefit package are seniors between 40 and 89, and your age range can affect your maximum benefit. The maximum benefit amounts range from a $25,000 policy to a $50,000 policy depending on your age range.
The only major difference between these plans is the monthly premium amounts. The Accendo Preferred Plan is for people with no health issues to report on their application which gets them the best rate. The Accendo Standard Plan is for folks who answer “Yes” to only a select number of medical questions. Regardless of age, they both have a minimum benefit of $2,000.
Accendo Level Plan Riders
An insurance rider is usually an optional coverage that covers more than the policy limitations. The Accendo Life Insurance Level Plan offers three different riders. Unfortunately, there are no riders for those who are on or qualify for the Accendo Life Insurance Modified Plan. Here are the riders available:
- Accelerated Death Benefit Rider
An accelerated death benefit, also known as a living benefit, pays up to half (50%) of the death benefit if a doctor provides written proof that you meet a qualifying event. A qualifying event could be a terminal illness diagnosis or necessary long-term care. This will ensure that your beneficiary gets some money while you are still alive.
- Accidental Death Benefit Rider
Under the Accendo Life Insurance Plan, the accidental benefit rider ensures that you are paid all of the face amounts for an accidental death if you are between the ages of 40 and 70. For example, if your policy face amount is $50,000 and you pass from an accident, you’ll get the full amount. - Child/Grandchild Term Insurance Rider
If you have children or grandchildren, this term insurance rider will help ensure they are covered. Until they are 25, any child, step-child, legally adopted child, grandchild, or legally adopted grandchild or great-grandchild is covered under this rider. Most child term insurance riders only cover immediate children, which makes it incredibly versatile depending on your situation. Accendo Life Insurance provides this rider with $2,500 units, up to $10,000 per child.
Accendo Modified Plan
The Accendo Modified Plan is for seniors between the ages of 40 and 75 who have more health issues. Much like the accidental death rider, the Accendo Modified Plan will give your beneficiary the full death benefit amount if you pass away from an accident.
However, passing away for non-accidental reasons has a different waiting period death benefit amount. Within the first two years of the policy, you are entitled to 110% of your earned premium. You are entitled to the full death benefit in the third year of your policy. The maximum benefit amount for this policy is $25,000 for seniors regardless of age.
Other Accendo Life Insurance Benefits
Cash Value Growth Guaranteed
Like other whole life insurance policies, Aetna Accendo Insurance Plans have a steady cash value growth each time you pay your premium. A pre-determined amount of money gets set aside each month when your premium is paid. This goes into a dedicated account that grows over time. This cash value can be borrowed with interest to be paid back, used to extend term insurance, be used as payments toward a future premium, or reduce the amount of your paid insurance.
Accendo Life Insurance Super Preferred Plan
There is a discounted rate for supplemental Medicare coverage policies on Aetna Accendo Insurance. The special rate for folks with Medicare is called the “Super Preferred” plan. If you have purchased an Accendo Medicare Supplement Plan within the last 180 days and qualify for a level benefit plan, you will receive a 10% discount on your premiums.
Pre-Approval Process for Aetna Accendo Life Insurance
Accendo Life Insurance provides opportunities for new clients to find out what they are approved for by answering health questions and doing a prescription drug check. While this is not guaranteed acceptance, it shows you your qualified plans. Interested applicants fill out a HIPPA form before calling an agent.
If approved, your pre-approval status lasts for thirty days. This gives you enough time to submit the whole application. After thirty days, you will need to submit a new application and get interviewed again by an agent. If you are denied for any reason, you have 21 days to submit an appeal and try again.
Aetna Accendo Insurance Company Health Questionnaire
To determine what level of coverage you qualify for, you will need to answer health questions for their whole life insurance policy. If an applicant can answer “no” to all questions on the health questionnaire, they are eligible for the Level Plan under Aetna burial insurance. No medical exam is required for Accendo Life Insurance. Our guide below illustrates the Accendo Life Insurance questionnaire.
The above questions are intended to be a guide only. Contact an agent for more information on if you qualify.
How Much Does Aetna Accendo Final Expense Insurance Cost?
Accendo Life Insurance costs can vary depending on where you live, how old you are, and what type of health you are in. While the Preferred and Standard Plans are similar, the Preferred Plan has a lower monthly premium for the same benefits. The Modified Plan (better for those with health issues) has a higher monthly premium. The Super Preferred Plan, a discounted plan for folks using Accendo’s Medicare Supplement, is not reflected in these prices but is an additional 10% off from the preferred plan.
Accendo Insurance Rate Chart $10,000 of coverage
| Gender / Age | Preferred Plan $10,000 | Standard Plan $10,000 | Modified Plan $10,000 |
|---|---|---|---|
|
Male / 40 |
$26.42/mo |
$29.05/mo |
$35.26/mo |
|
Female / 40 |
$23.80/mo |
$24.67/mo |
$31.76/mo |
|
Male / 50 |
$34.39/mo |
$40.51/mo |
$49.44/mo |
|
Female / 50 |
$27.30/mo |
$37.01/mo |
$38.94/mo |
|
Male / 60 |
$51.10/mo |
$61.69/mo |
$78.49/mo |
|
Female / 60 |
$40.51/mo |
$51.10/mo |
$59.85/mo |
These figures were obtained from the NFDA and are estimates only. For a detailed quote, please contact an agent. Rates are based on one $9.95/month unit.
What Are the Aetna Senior Products?
The Aetna Senior Products are a variety of different products available to seniors. These products include both the Aetna Accendo Final Expense Life Insurance and the Medicare Supplement in the Super Preferred Plan. Here are a few more products included in the Aetna Senior Products:
- Cancer and Heart Attack or Stroke/Plus
- Dental, Vision, and Hearing/Plus
- Home Care Plus
- Hospital Indemnity/Flex
- Recovery Care
Aetna Accendo Insurance Company Pros & Cons
Pros
- Social Security Payment Option
Aetna has many ways to pay for your premiums. You can pay by money order, personal check, or an automatic deduction from your checking account. A great plus for folks on Social Security is that the billing can be matched up to the date of the Social Security check. You can have peace of mind knowing that these dates coincide together.
- Expanded Coverage
Since 2021, the Aetna Accendo Insurance company has been expanded to cover a wider age range with more affordable premium rates. Originally, the plans only covered folks ages 60 and up with a maximum of $35,000. Now, coverage has been expanded to cover folks as young as 40 with the minimum rate of $2,000 and the maximum face amount possible of $50,000.
- Plans Available in Almost All States
The Accendo Life Insurance Plan is available in 49 states, with New York as an exception. So no matter where you are, you can expect great coverage and premium rates from Aetna Accendo Final Expense.
- Simple Application with No Medical Exam
Accendo Life Insurance has an easy and streamlined final expense insurance application. The underwriting done by Landmark is completed very quickly. An online application can be completed and approved within minutes. If you prefer to submit a paper application, it can take up to 78 hours for approval once the application reaches Aetna. Medical exams are not required for any of the plans provided.
Cons
- Modified Plan is Limited Compared to the Preferred and standard-level plans, the Modified Plan from Accendo Life Insurance feels more limited. It does not have additional riders, and there is a two-year waiting period. A waiting period is normal for more insurance companies, especially if you have health issues. It is still a good option if you are a younger applicant looking for coverage.
- Specialized Website for Accendo Life Insurance Aetna has a dedicated website for their Aetna Accendo final expense insurance. While not much of a con, we understand that it can be confusing when researching quotes for final expense insurance. The Aetna Senior Products website is where you can find information regarding both their Medicare Supplements and final expense insurance.
Aetna Accendo Insurance Company Reviews
Third-Party Reviews
AM Best Rating
AM Best is an agency that assesses an insurance company’s creditworthiness and how well it can fulfill its financial obligations. Accendo Insurance Company received an A rating; the second highest rating they offer.
NAIC
The National Association of Insurance Commissioners (NAIC) records complaint trains for companies every year on their Complaint Index. The overall goal of the NAIC is to protect consumers like you. The rating used involves a numerical value ranging from 0 to 10. One is the average customer complaint rating, and companies aim to be below the average.
Accendo Insurance Company received a rating of 0.74, which is lower than the national average.
BBB
The Better Business Bureau evaluates how trustworthy a business is based on customer complaints and offers complaint resolution services between customers and businesses. They also track customer complaints and rate companies on a scale from A+ to F.
Aetna has received an A+ on their scale. However, they are not BBB accredited, and they have a customer review rating of 1.08/5.
Customer Reviews
Conclusion
Frequently Asked Questions
Is Accendo the Same as Aetna?
While Accendo and Aetna are two different companies, Accendo is a newer Medigap company that is an affiliate with Aetna. They work together to provide Medigap and senior final expense coverage.
What is a Medigap Plan?
Medigap, also known as Medicare Supplement Insurance, is a type of insurance that fills in any “gaps” in Medicare sold by private insurance companies.
What Determines Coverage Eligibility?
Determining factors for coverage include age, medical history, job type, and hobbies. When an underwriter reviews your application, they are trying to determine your risk level. If you have many severe health problems, then you might have to pay a much higher premium than someone healthy.