American Continental Insurance Company and Continental Life Insurance Company of Brentwood, Tennessee operate as specialized divisions within the Aetna family, focusing primarily on final expense life insurance and Medicare supplement products for seniors. Since joining Aetna in 2011, these sister companies have leveraged the financial strength of one of America’s largest healthcare organizations while maintaining their focus on accessible, simplified life insurance solutions.
Table of Contents
- What Are American Continental and Continental Life?
- How Do They Fit Within Aetna’s Structure?
- What’s Their Financial Stability?
- What Life Insurance Products Do They Offer?
- How Does Their Final Expense Insurance Work?
- Are Their Rates Competitive?
- What’s the Application Experience Like?
- How Do Customers Rate Their Service?
- What Are the Advantages and Limitations?
- How Do They Compare to Other Final Expense Options?
- Should You Choose These Companies?
What Are American Continental and Continental Life?
American Continental Insurance Company and Continental Life Insurance Company of Brentwood, Tennessee, function as sister companies specializing in final expense life insurance and Medicare supplement coverage within Aetna’s extensive insurance network. These companies represent Aetna’s dedicated approach to serving the senior market with simplified insurance products.
Key insight: While these companies operate under separate names and licensing, they function as integrated parts of Aetna’s senior supplemental insurance division, sharing resources, underwriting guidelines, and customer service infrastructure while maintaining distinct product focuses.
Bottom Line
American Continental and Continental Life operate as specialized Aetna subsidiaries focusing on final expense and Medicare supplement insurance, providing the financial backing of a major corporation with products designed specifically for senior market needs.
Company History and Development
Continental Life Insurance Company of Brentwood, Tennessee was established in 1983, initially operating independently before becoming part of Aetna’s senior supplemental insurance foundation. American Continental Insurance Company was founded later in 2005 as the second company in this specialized division.
In 2011, Aetna acquired both companies from Genworth Financial for approximately $290 million, integrating them into their broader healthcare and insurance portfolio. This acquisition allowed Aetna to expand their presence in the Medicare supplement and final expense markets while providing the acquired companies with enhanced financial stability and operational resources.
Today, both companies operate from headquarters in the Nashville, Tennessee area (Franklin), employing over 400 associates who focus specifically on senior insurance products and services.
How Do They Fit Within Aetna’s Structure?
Understanding the relationship between these companies and Aetna helps explain their operational approach, financial backing, and market positioning within the broader insurance landscape.
Aetna’s Senior Supplemental Insurance Division
American Continental and Continental Life operate as key components of Aetna Senior Supplemental Insurance, which includes multiple specialized companies serving different aspects of the senior insurance market. This division allows Aetna to offer targeted products while maintaining operational efficiency across related business lines.
“The companies provide the security of an insurance company with a longstanding reputation, along with the prices and personal feel of a smaller company, backed by Aetna’s financial strength and operational resources.”
– InsuranceBrokers USA – Management Team
CVS Health Integration
Since CVS Health acquired Aetna in 2018, these insurance companies benefit from the combined resources of one of America’s largest healthcare organizations. You may notice CVS Health branding on some policies, particularly the newer Accendo plan offerings developed in partnership with CVS Health.
Operational Benefits
- Financial Backing: Support from Aetna’s substantial asset base
- Technology Resources: Access to Aetna’s systems and infrastructure
- Regulatory Expertise: Benefit from Aetna’s compliance and legal resources
- Market Reach: Distribution through Aetna’s extensive agent network
What’s Their Financial Stability?
Both American Continental Insurance Company and Continental Life Insurance Company maintain strong financial ratings that reflect their position within Aetna’s financially stable organization and their focus on low-risk insurance products.
AM Best Ratings
Both companies hold A- (Excellent) financial strength ratings from AM Best, indicating strong ability to meet ongoing insurance obligations. This rating places them in the third-highest category out of sixteen possible AM Best ratings, demonstrating solid financial management and adequate capitalization.
Financial Strength Overview
| Company | AM Best Rating | Issuer Credit Rating |
|---|---|---|
| American Continental Insurance Company | A- (Excellent) | a- |
| Continental Life Insurance Company | A- (Excellent) | a- |
| Parent: Aetna Inc. | A (Excellent) | Strong Foundation |
Aetna’s Financial Foundation
As subsidiaries of Aetna, these companies benefit from the parent company’s strong financial position. Aetna has been in business since 1895 and maintains an A rating with AM Best, providing substantial backing for their specialized insurance operations.
The 2011 acquisition by Aetna actually improved the financial outlook for both companies, as AM Best placed their ratings under review with positive implications when the transaction was announced, recognizing the enhanced financial and operational support.
Key Takeaways
- Both companies maintain A- ratings from AM Best
- Backed by Aetna’s substantial financial resources
- Benefit from CVS Health’s healthcare industry leadership
- Focus on low-risk final expense products enhances stability
What Life Insurance Products Do They Offer?
American Continental and Continental Life focus primarily on final expense life insurance products designed to meet the specific needs of seniors seeking affordable coverage for burial costs and small financial obligations.
Final Expense Life Insurance Options
Both companies offer several final expense plans with different underwriting approaches to accommodate varying health situations:
- Accendo Plan: Developed in partnership with CVS Health, featuring simplified underwriting
- ACC Plan: American Continental’s standard offering with competitive pricing
- CLI Plan: Continental Life’s traditional final expense product
Coverage Features
Their final expense policies typically include:
- Coverage Amounts: Usually ranging from $2,000 to $35,000
- Age Ranges: Available to applicants as old as 89 years
- No Medical Exams: Simplified application process
- Level Premiums: Rates that remain constant
- Cash Value Accumulation: Whole life policies that build cash value
“Aetna is typically considered one of the best burial insurance companies, primarily due to its competitive pricing and favorable underwriting. You can get no waiting period life insurance with Aetna for conditions that would get you declined elsewhere.”
– InsuranceBrokers USA – Management Team
Underwriting Approaches
The companies offer different underwriting levels:
- Immediate Coverage: Full benefits from day one for qualifying applicants
- Modified Coverage: Graded benefits for the first two years
- Guaranteed Issue: Acceptance regardless of health status
Additional Benefits
Customers who purchase Medicare supplement plans from these companies may qualify for discounts on their life insurance policies, reflecting the integrated approach to senior insurance products within Aetna’s portfolio.
How Does Their Final Expense Insurance Work?
American Continental and Continental Life specialize in final expense insurance designed to cover burial costs, funeral expenses, and small debts, making these policies particularly relevant for seniors seeking affordable protection without extensive underwriting.
Simplified Application Process
The application process typically involves answering a limited number of health questions rather than undergoing comprehensive medical underwriting. This approach makes coverage accessible to many seniors who might face challenges with traditional life insurance.
Health Question Approach
Applicants generally need to answer questions about:
- Current hospitalization or nursing home residence
- Terminal illness diagnosis
- Need for assistance with daily activities
- Specific serious medical conditions
- Recent medical treatments or procedures
Bottom Line
These companies excel at providing accessible final expense coverage for seniors who may not qualify for traditional life insurance, with simplified underwriting and competitive pricing within the final expense market.
Coverage Levels and Benefits
Depending on health status and application responses, applicants may qualify for:
- Level One: Immediate full death benefit coverage
- Level Two: Modified benefits with gradual increase over time
- Level Three: Return of premiums plus interest for natural death in first two years
Premium Payment Options
The companies offer flexible payment arrangements, though they notably do not accept credit card payments. Most customers set up monthly bank account withdrawals, while those preferring to pay by check can do so quarterly, semi-annually, or annually.
Are Their Rates Competitive?
American Continental and Continental Life are often recognized for offering competitive pricing within the final expense insurance market, particularly when considering the financial backing and stability they provide through Aetna’s support.
Market Position
Within the final expense market, these companies typically offer rates that compare favorably to other established providers, especially for applicants who qualify for immediate coverage. Their pricing reflects the lower risk associated with final expense amounts compared to traditional high-value life insurance.
Factors Affecting Pricing
- Age: Primary determinant with rates increasing with age
- Coverage Amount: Higher benefits result in proportionally higher premiums
- Health Status: Affects which underwriting tier you qualify for
- Gender: Women typically receive lower rates due to longer life expectancy
- Geographic Location: Some state-by-state variation
“Aetna offers some of the lowest rates in the country for final expense coverage, combining competitive pricing with the financial security of one of America’s most established healthcare companies.”
– InsuranceBrokers USA – Management Team
Discount Opportunities
Customers may qualify for discounts when purchasing multiple products:
- Multi-policy discounts for combining life insurance with Medicare supplement plans
- Potential savings through the integrated Aetna product ecosystem
- Family coverage options that may provide cost efficiencies
Value Considerations
While competitive pricing is important, the overall value includes the financial stability of Aetna backing, simplified underwriting that makes coverage accessible, and the integrated customer service approach across multiple insurance products.
What’s the Application Experience Like?
The application process for American Continental and Continental Life insurance focuses on simplicity and accessibility, reflecting their target market of seniors seeking straightforward final expense coverage.
Typical Application Steps
- Initial Contact: Connect with licensed agent or company representative
- Needs Assessment: Determine appropriate coverage amount and type
- Health Questions: Answer simplified health questionnaire
- Application Completion: Submit required information and initial premium
- Underwriting Review: Company evaluates application and health responses
- Approval Decision: Receive coverage determination and final premium
- Policy Issuance: Coverage becomes effective upon approval
Documentation Requirements
The application process typically requires:
- Completed application with health questions
- Identification verification
- Beneficiary information
- Initial premium payment
- Signed acknowledgments and disclosures
Timeline Expectations
Most applications receive decisions within several business days to two weeks, depending on the complexity of health situations and underwriting requirements. Simple cases with straightforward health profiles often receive faster processing.
Key Takeaways
- Simplified application process designed for senior applicants
- No medical exams required for final expense coverage
- Quick processing for most straightforward applications
- Licensed agents available to guide through the process
How Do Customers Rate Their Service?
Customer service for American Continental and Continental Life operates through Aetna’s broader service infrastructure, providing access to established customer support systems while maintaining focus on senior insurance products.
Service Structure
Customer service operates from the Franklin, Tennessee headquarters with over 400 associates dedicated to senior insurance products. The companies maintain specialized departments for different types of policies, ensuring representatives have specific expertise in final expense and Medicare supplement products.
Contact Options
- Phone Support: Dedicated customer service lines
- Agent Network: Over 30,000 licensed agents nationwide
- Email Support: Available through Aetna’s customer service system
- Online Resources: Policy information and account management
“The agent who helped you buy your Aetna coverage can likely be of excellent service to you. It’s recommended that you contact your agent first before contacting the company directly for most service issues.”
– InsuranceBrokers USA – Management Team
BBB Accreditation
Continental Life maintains BBB accreditation since 2012, indicating commitment to business practices and customer service standards. The companies benefit from Aetna’s overall reputation for customer service and regulatory compliance.
Service Strengths
- Specialized expertise in senior insurance products
- Integration with Aetna’s broader customer service infrastructure
- Large network of licensed agents for local support
- Focus on personalized service for the senior market
What Are the Advantages and Limitations?
Understanding the strengths and considerations of American Continental and Continental Life helps determine whether their specialized approach aligns with your final expense insurance needs.
Advantages
- Aetna Financial Backing: Strong financial foundation and stability
- Specialized Focus: Deep expertise in final expense and senior insurance
- Competitive Pricing: Often recognized for favorable rates in the final expense market
- Simplified Underwriting: Accessible coverage for seniors with health issues
- Extended Age Range: Coverage available up to age 89
- No Medical Exams: Streamlined application process
- Multi-Policy Discounts: Savings opportunities when combining with Medicare supplements
- Established Network: Large agent network for local support
Important Considerations
- Limited Product Range: Focus primarily on final expense rather than comprehensive life insurance
- Coverage Limits: Maximum benefits typically cap at $35,000
- Payment Limitations: No credit card payment options
- Specialized Market: Products designed specifically for seniors may not suit younger applicants
- Agent-Dependent Sales: Limited direct-to-consumer online options
- State Variations: Product availability and features may vary by location
Bottom Line
These companies excel within their specialized niche of final expense insurance for seniors, offering competitive rates and accessible underwriting backed by Aetna’s financial strength, though they may not be suitable for comprehensive life insurance needs.
How Do They Compare to Other Final Expense Options?
Understanding how American Continental and Continental Life compare to other final expense providers helps contextualize their market position and value proposition for potential customers.
Direct Competitors in Final Expense
- Mutual of Omaha: Strong financial ratings with comprehensive final expense options
- Gerber Life: Well-known brand with competitive simplified issue products
- Colonial Penn: Guaranteed acceptance focus with extensive marketing presence
- Foresters Financial: Competitive rates with member benefits
- Great Western: Specialized final expense provider with flexible underwriting
Competitive Advantages
American Continental and Continental Life often distinguish themselves through:
- Aetna’s financial backing providing enhanced security
- Competitive pricing within the final expense market
- Favorable underwriting for health conditions that might be declined elsewhere
- Integration with Medicare supplement products for potential discounts
- Extended age acceptance up to 89 years old
“Within the final expense market, Aetna’s companies consistently rank among the most competitive for both pricing and underwriting flexibility, particularly for applicants who might face challenges elsewhere due to health conditions.”
– InsuranceBrokers USA – Management Team
Broader Life Insurance Alternatives
For families seeking more comprehensive coverage beyond final expense, exploring options through our guides to top life insurance companies and final expense specialists provides broader market perspective.
When health challenges limit traditional options, specialized solutions for life insurance with pre-existing medical conditions offer additional pathways to coverage.
Should You Choose These Companies?
American Continental and Continental Life work particularly well for specific situations while representing solid options within their specialized market niche.
These Companies Are Ideal If You:
- Need final expense coverage between $2,000-$35,000
- Are a senior seeking simplified underwriting
- Have health conditions that might complicate traditional life insurance
- Want coverage backed by Aetna’s financial strength
- Are already an Aetna Medicare supplement customer
- Prefer working with established companies with long track records
- Value competitive pricing within the final expense market
Consider Other Options If You:
- Need coverage amounts above $35,000
- Are younger and seeking comprehensive life insurance
- Want term life insurance options
- Prefer online application and management capabilities
- Need more flexible payment options including credit cards
- Want to compare the full range of life insurance products available
Bottom Line
American Continental and Continental Life provide excellent options for seniors seeking final expense coverage with competitive rates and accessible underwriting, though comprehensive comparison shopping ensures you find the best available solution for your specific needs.
Smart Shopping Approach
Consider these companies as part of a comprehensive shopping strategy:
- Compare their final expense options with other established providers
- Evaluate whether final expense coverage meets your full protection needs
- Consider traditional life insurance if you’re in good health
- Review integration opportunities if you have other Aetna products
- Work with independent agents who can compare across multiple carriers
For families seeking the most comprehensive life insurance coverage options, exploring both specialized final expense providers and traditional carriers through established life insurance companies ensures you find the best combination of coverage, pricing, and service for your specific situation.
Frequently Asked Questions
Are American Continental and Continental Life the same company?
Direct answer: No, they are separate sister companies, both owned by Aetna. American Continental was founded in 2005 and Continental Life in 1983, but they operate as integrated parts of Aetna’s senior supplemental insurance division with shared resources and similar products.
What is the maximum coverage amount available?
Direct answer: These companies typically offer final expense coverage ranging from $2,000 to $35,000, designed specifically for burial costs and small financial obligations rather than comprehensive income replacement.
Do I need a medical exam to apply?
Direct answer: No, these companies specialize in simplified underwriting without medical exams. You’ll answer health questions on the application, and coverage decisions are based on those responses rather than physical examinations.
How do their rates compare to other final expense companies?
Direct answer: American Continental and Continental Life are often recognized for competitive pricing within the final expense market, particularly for applicants who qualify for immediate coverage. However, comparing quotes from multiple providers ensures you find the best available rates.
Can I apply if I’m over 80 years old?
Direct answer: Yes, these companies accept applications from seniors up to age 89, which is more generous than many traditional life insurance providers. This makes them valuable options for older applicants seeking coverage.
Are these companies financially stable?
Direct answer: Yes, both companies maintain A- (Excellent) ratings from AM Best and benefit from Aetna’s strong financial backing. Aetna has been in business since 1895 and is now part of CVS Health, providing substantial financial stability.
Can I get discounts for multiple policies?
Direct answer: Yes, customers who purchase Medicare supplement plans from these companies may qualify for discounts on their life insurance policies, reflecting the integrated approach within Aetna’s product portfolio.
How do I pay my premiums?
Direct answer: These companies do not accept credit card payments. Most customers set up monthly bank account withdrawals, though you can pay by check quarterly, semi-annually, or annually if you prefer.
