Continental Life Insurance Company Medicare Plans Review
Read our Continental Life Insurance Company review to learn about the plans and policies the company offers, including Medicare Supplement (Medigap) plans, final expense life insurance and other products. Find out how to compare plans that are available where you live.
Continental Life Insurance Company is operated by Aetna, a CVS Health company and one of the leading health insurance companies in the U.S.
Continental Life was founded in 1983 in Brentwood, TN and began selling supplemental insurance policies and whole life policies to seniors. Continental Life was acquired by Aetna in 2011.
Continental Life sells three types of insurance products:
- Medicare Supplement Insurance
- Final expense whole life insurance
- Complementary insurance
Medicare Supplement Insurance, also called Medigap, covers out-of-pocket expenses that are required by Original Medicare (Medicare Part A and Part B). These can include deductibles, copayments, coinsurance and more.
There are 10 types of standardized Medigap plans available in most states, each identified by a plan letter such as Medicare Supplement Plan F, Plan G, etc. Each type of Medigap plan has benefits that are standardized by the federal government.
While plan selection may vary by state, Continental Life sells each type of standardized Medigap plan in certain areas through its partnership with Aetna.
The Medicare Supplement plans comparison chart below shows the coverage offered by each type of Medigap plan.
|Medicare Supplement Benefits||A||B||C1||D||F1||G||K||L||M||N|
|Part A coinsurance and hospital costs||✓||✓||✓||✓||✓||✓||✓||✓||✓||✓|
|Part B coinsurance or copayment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|First 3 pints of blood||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Part A hospice care co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Co-insurance for skilled nursing facility||✓||✓||✓||✓||50%||75%||✓||✓|
|Medicare Part A deductible||✓||✓||✓||✓||✓||50%||75%||50%||✓|
|Medicare Part B deductible||✓||✓|
|Medicare Part B excess charges||✓||✓|
|Foreign travel emergency||80%||80%||80%||80%||80%||80%|
|1. Plans C and F are not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.
2. Plans F and G also offer a high deductible plan which has an annual deductible of $2,370 in 2021. Once the annual deductible is met, the plan pays 100% of covered services for the rest of the year. The high deductible Plan F is not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.
3. Plan K has an out-of-pocket yearly limit of $6,220 in 2021. Plan L has an out-of-pocket yearly limit of $3,110 in 2021.
4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to $50 for emergency room visits that don’t result in an inpatient admission.
View an image version of this table.
Final expense whole life plans are life insurance policies designed to cover one’s final expenses and funeral costs. These plans can cover costs for anything the family needs after their loved one has passed away, including burial, cremation or other costs.
Continental Life Insurance Company sells two different options for this type of coverage.
- A level benefit grants beneficiaries the full death benefit regardless of when you pass away.
- A graded benefit grants beneficiaries a reduced benefit if you pass away within the first two years that your policy is in force.
You can learn more about final expense life insurance – sometimes called burial insurance – by comparing plans online or calling to speak with a licensed insurance agent.
Continental Life does not sell policies directly to consumers. To enroll in a plan, you must contact a licensed insurance agent.
Final expense whole life insurance policies from Continental Life are not available in AK, CA, CT, HI, NY, MD, MA, ME, VT or WA.
Medicare Supplement Insurance and Protection Series plan selection varies by state. In order to be eligible for a Medigap plan through Continental Life or any other carrier, you must be enrolled in Medicare Part A and Part B. In some states you may be able to purchase a Medigap plan if you are under 65.
Continental Life offers a diverse selection of insurance policies that allow seniors to bundle coverage all under one roof.
As a small company that partners with one of the most recognizable brands in the insurance industry, Continental Life provides customers with a family business feel with all the perks of a large corporation. Continental Life is rated an “A” by credit rating agency A.M. Best.