Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Aetna vs. HM Life Insurance

Aetna and HM Life Insurance Corporation are both insurance providers offering insurance policies to the general public. In order to make accurate comparisons, it’s necessary to learn a few things about each company. This includes what type of insurance they offer as well as what’s the most appropriate insurance for your needs.

When it comes to insurance, one must shop around to get the best prices. Let us help! Enter your ZIP code into our FREE quote comparison tool and get insurance quotes right to your computer!

The Offerings of Aetna vs HM Life Insurance

When choosing the insurance policy that’s right for you and your family, it’s important to know that there are options out there. While Aetna and HM Life Insurance are two of the options, they don’t have the same exact forms of insurance. Therefore it’s critical to see what they do have in order to make a more educated decision on insurance needs.

What Aetna offers include:

  • Medical
  • Dental Vision
  • Medicare
  • Disability
  • Pharmacy
  • Life

What HM Life Insurance offers include:

  • Accident Insurance
  • Critical Illness Insurance
  • Disability
  • Term Life
  • Medical

There is a difference between individual and group plans. Individual plans are what you would purchase if your employer does not offer the type of insurance you need. Group plans are purchased by an employer to offer to employees.

Aetna offers plans for both individuals and businesses. HM Life Insurance is focused primarily on offering solutions to businesses as far as business insurance is concerned; however individuals can purchase accident and critical illness insurance directly from the company.

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Understanding the Differences in Detail

It’s important to understand some of the specifics between the two companies to be able to determine which is the most effective for your family or for your business. By learning more about the two companies as well as their differences, it will be easier to make a decision. Some topics that will be looked at include:

  • Where each one services
  • How claims are handled
  • Details on insurance coverage

Geography of Companies

Aetna is based across the entire United States. There are offices throughout all states and it is possible to find a provider in any state with just about any form of specialty.

HM Life Insurance Corporation is based in New York and covers primarily the east coast of the country. While there are a few offices scattered across the west coast and the midwest, it is not as comprehensive as Aetna. If your business is within one of the operating states, then it’s no issue. Otherwise, it could mean that you would have to offer multiple brands of insurance to your employees based upon location. In order to look up doctors, it would require a phone call to the company or looking up the information in their coverage book that is issued.

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How Claims are Handled

Claims are handled in a unique fashion within each company. Aetna allows claims to be made online and directly through the provider, depending upon the type of insurance that the claim is being made on. With HM Life, a policy claim can be made over the phone, forms can be downloaded and some claims can be made directly through the provider.

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Insurance Coverage

Aetna typically deals with full coverage policies for employers to offer employees as well as individual policies for those who are not able to get what they need from an employer.

HM Life Insurance Corporation primarily focuses on coverage opportunities that pride the gap for employees who don’t have the coverage they need offered by their employer. There are indemnity plans and other forms of insurance that help to provide an employee with the coverage necessary to live a comfortable life, despite what their employer may offer.

The Qualifications of Each Company

Choosing a company can often come down to who is the most qualified to do the job and what their backgrounds are.

The HM Insurance Group has almost 30 years of experience within the industry of life and health insurance. Through this experience, they have learned that it’s important to offer:

  • Support in pre-sale, enrollment and case set up
  • Seamless enrollment without administration issues
  • Products that are valued

HM focuses on active coordination of enrollment and administration to ensure that employers understand the plans. There are also worksite account managers that will help to deliver products and answer questions during the enrollment process.

Aetna has over 150 years of experience, being founded in 1853. They have been classified as one of the leading providers in healthcare, dental, group life, disability, pharmacy insurance as well as employee benefits.

The company focuses on acting socially responsible and is dedicated to helping people achieve security financially and with their health.

Aetna has learned through its years of experience that it’s important to offer:

  • A broad range of insurance and benefits products
  • Lead the way in health care products
  • Offer a wide variety of programs and services to control costs
  • Provide members with access to convenient tools

How to Effectively Compare the Two Companies

Aetna and HM Life Insurance Corporation are options when seeking knowledge about group health insurance benefits. While Aetna does offer more options overall, HM Life Insurance offers group packages that encompass a number of benefits to employees, which could be the best option, depending on costs and location.

If you are a company looking for insurance to offer your employees, make a list of needs including:

  • How many employees you have
  • All areas of country where employees are located
  • What types of insurance is needed

Once you have this list, it will be easier to make the comparisons between the two companies.

If you are an individual, looking for an individual plan, make a list of all the forms of insurance you want, including medical, dental, term life and accidental death & dismemberment.

Identifying your needs is the first step in comparing the two companies. After that, you should contact both companies to see if they are able to accommodate all of your needs.

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The Importance of Comparisons

One company may be able to assist you on a more personal level or address your needs more effectively than the other. Both companies have years of experience within the health and life industries, which is a significant positive for both Aetna and HM Life. It may come down to geography and services.

It’s important to compare and contrast benefits. It may also help to create a focus group of employees to determine what’s important to them in terms of benefits to ensure that you address their needs and wants effectively.

Both companies are prepared to handle needs. It all comes down to who is the best equipped based on what’s most important to you.

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