Continental Life (Aetna)

Continental Life Insurance Company is a subsidiary of Aetna Inc., which is part of the larger CVS Health family. Established with a mission to provide quality insurance products, Continental Life has carved out a niche in the insurance market, particularly in Medicare Supplement Insurance and related health products.

Continental Life Insurance Company was founded in 1983, primarily focusing on providing health and life insurance solutions to meet the needs of a growing senior population. Over the years, it has expanded its product portfolio and market reach, becoming a key player in the supplemental insurance sector. In 2018, Continental Life was acquired by Aetna, which further solidified its position in the marketplace and allowed for enhanced resources and distribution capabilities.

The integration with Aetna has enabled Continental Life to leverage Aetna’s extensive healthcare network, underwriting expertise, and technology-driven services, which has enhanced its ability to serve its clients effectively.


Continental Life Insurance specializes in a variety of products, including:

- Medicare Supplement Insurance: Providing plans that fill gaps in Medicare coverage for seniors, which is a core focus of the company.
- Final Expense Life Insurance: Offering affordable life insurance solutions designed to cover funeral and other final expenses.
- Dental, Vision, and Hearing Insurance: Providing supplemental coverage to help policyholders manage costs associated with dental, vision, and hearing care.
- Hospital Indemnity Insurance: Offering financial support for hospital stays, helping policyholders manage out-of-pocket costs.
- Cancer and Critical Illness Insurance: Providing coverage that pays benefits in the event of a cancer diagnosis or other critical illnesses.
- Home Healthcare Insurance: Addressing the growing need for in-home healthcare services, especially among seniors.

This diverse range of products allows Continental Life to cater to various needs of its policyholders, particularly seniors who require supplemental health coverage.

As a subsidiary of Aetna, Continental Life benefits from a strong financial foundation. Aetna, with reported revenues exceeding $180 billion in 2023, provides substantial backing to Continental Life, ensuring stability and reliability for policyholders. The company maintains an A (Excellent) rating from A.M. Best, reflecting its strong financial health and capacity to meet its obligations.

The financial strength of Continental Life allows it to offer competitive pricing on its insurance products, making it an attractive option for insurance agents and their clients.

One notable milestone in Continental Life's history was its acquisition by Aetna in 2018. This acquisition not only expanded Aetna's footprint in the supplemental insurance market but also enhanced the product offerings and distribution capabilities of Continental Life. It allowed for a broader reach and integration of resources, positioning the company for continued growth.

An interesting anecdote involves Continental Life's proactive approach to addressing the needs of its policyholders through innovation. The company has embraced technology, launching user-friendly online platforms that allow policyholders to manage their policies, file claims, and access customer service easily. This focus on enhancing the customer experience has proven to be a significant differentiator in a competitive market.

Pros:
- Strong Parent Company: Being part of Aetna provides Continental Life with financial stability and a wealth of resources, enhancing its market competitiveness.

- Diverse Product Portfolio: The range of insurance products allows for cross-selling opportunities and meeting various client needs, particularly in the senior market.

- Innovative Customer Experience: The use of technology to streamline processes and improve customer service enhances client satisfaction and loyalty.

- Established Market Presence: With decades of experience and a solid reputation, Continental Life is a trusted name in the insurance industry.

Cons:
- Market Competition: Continental Life faces significant competition in the Medicare Supplement and supplemental insurance markets, requiring continuous innovation to maintain its position.

- Higher Premiums: While offering comprehensive coverage, Continental Life's premiums may be higher than some competitors, potentially limiting its appeal to cost-sensitive consumers.

Continental Life Insurance Company (Aetna) stands as a strong player in the Medicare Supplement Insurance and supplemental health insurance markets. With a robust product portfolio backed by Aetna's financial strength and resources, Continental Life is well-positioned to meet the evolving needs of its policyholders, particularly seniors. While facing challenges from competition and pricing dynamics, its commitment to innovation, customer service, and comprehensive coverage makes it a valuable partner for insurance professionals in the senior market.