When choosing a term life insurance plan, many factors must be considered, complaint ratios, financial strength ratings expenses. This article will cover the various aspects of Continental Life Insurance policies to help you make an informed decision.
Plan Selection
Continental Life Insurance Company is a Medigap insurance carrier, which means you must have Medicare Part A and Part B to qualify. Despite partnering with well-known brands, Continental Life Insurance Company offers a personalized, family-run experience.
The company has been selling Medicare supplement plans for over 30 years and became a subsidiary of Aetna in 2007. They focus on providing more affordable premiums than conventional health insurance policies.
Continental Life Insurance Company offers two types of final expense life insurance policies:
- Level Benefit: Pays the full death benefit when the policy owner dies.
- Graded Benefit: Reduces the benefit if the policyholder dies within the first two years.
Complaint Ratios
When comparing complaint ratios, it’s important to know how many complaints a company receives relative to its size. The complaint ratio for the company is 4.40, meaning they receive four complaints per $1 million in written premium.
To find your state insurance department, check the map of state insurance departments. They investigate complaints and include them in statistics to alert consumers and put pressure on insurers to resolve issues.
Financial Strength Rating
A.M. Best placed Continental Life Insurance Company of Brentwood, TN under review. The company, part of Genworth Life Insurance Company, is being sold to Aetna, which has a better IFS rating. This could result in a downgrade for Continental. Reading reviews while considering other factors can help you decide if it’s the right choice.
The financial strength rating of an insurance company is crucial as it indicates the company’s ability to pay claims. A.M. Best rates insurance companies based on their financial strength and solvency. Continental Life Insurance Company has a financial strength rating of A and focuses on health insurance for the elderly.
Cost
The cost of Continental Life Insurance depends on factors like your zip code, health status, and the information provided on your application. Discounts may be available for households or families.
Medicare supplement policies must provide the same benefits as other Plan A policies, prices can vary widely between companies. It is known for its affordability and federally certified plans. This makes it easier to compare rates and find the best option for your needs and budget.
Online Quotes
Continental Life Insurance Company offers three plans: Final Expense, Supplementary Life, and Universal Life. All three plans are federally certified, making it easy to compare rates. You can search for quotes by zip code, gender, age, health, and other factors.
Despite being a smaller company, Continental Life Insurance Company has an excellent BBB rating and A.M. Best rating. As a member of Aetna, you can save on your monthly premium by signing up for their health insurance plan. Coverage is available through agents and Aetna.
One limitation with Aetna is that most premiums are deducted from bank accounts that cannot be checked monthly. Not found in the 2020 JD Power US Individual Life Insurance Study, which ranks 24 major life insurance companies. Deciding to get an online quote.
