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

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Aetna vs. Shelter Life Insurance

Aetna and Shelter Life Insurance Company each have their own policies, rules and advantages. Understanding and choosing an insurance provider wisely is a difficult task if you do not do your homework. Learning about these two companies is a good place to start.

Types of Insurance Sold by Aetna

Founded in 1853 in Hartford, Connecticut, Aetna Insurance Company is primarily a provider of various types of health insurance. The company has been a leader in working with employers and individuals for improved preventative care and better information on healthful living. It serves 50 states. Below is a list of products the company sells.

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Health Insurance

  • Medical
  • Behavioral and Mental Health
  • Medicare
  • Pharmacy Plans
  • Dental
  • Vision
  • Student Health Plans
  • Health Expense Funds
  • Disability

Group Life Insurance

  • Term
  • Accidental Death and Personal Loss
  • Dependent Life and AD &PL

Types of Insurance Sold by Shelter

Shelter Life Insurance Company evolved from a company called MFA Mutual Insurance Company, which was formed in Missouri in 1946. Its original focus was on farm insurance. Shelter Life Insurance did not get its current name until 1981. It provides a wide range of insurance products including business insurance to people in 14 states. Shelter is able to answer questions regarding how to file business insurance claims.

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Life Insurance

Vehicle Insurance

  • Auto
  • Motorcycle
  • RV
  • ATV
  • Boat
  • Corporate Vehicle

Farm Insurance

  • Farm Liability
  • Farm Equipment
  • Farmowners
  • Farm Property
  • Farm Livestock

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Home Insurance

  • Homeowners
  • Apartment Owners
  • Condominium
  • Dwelling
  • Mobile Home
  • Personal Articles
  • Renters

Business Insurance

  • Apartment Owners
  • Business Auto
  • Business Owners
  • Commercial Fire
  • General Liability
  • Rental Dwelling

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Comparisons of Life Insurance

Aetna and Shelter Life Insurance Company, then, are very different in nature. The one product they do have in common is Life Insurance. However, even within this one category, there is a world of difference.

  1. Availability – Aetna is available to groups only; Shelter is also available to individuals.
  2. Types of Life Insurance Offered – Aetna only offers Group Term, Accidental Death and Personal Loss, and Dependent AD & PL. Shelter not only offers Term, but also offers several versions of Whole Life, as well as Universal Life
  3. Ways to Cover a Family – Aetna offers Dependent Life Insurance through employers who provide Aetna Group Life Insurance to their employees. This will cover spouses and children. Shelter Life Insurance uses individual policies or policy riders to cover additional members of the family.
  4. Children’s Policies – Shelter Life Insurance offers a Junior Special Insurance that is designed to both insure the child through age 26 and lock in insurability for life. Aetna offers no special children’s policy that guarantees future insurability.
  5. Late Life Coverage – Shelter Permanent Life Policies make it possible for you to be covered long after you have retired from your working life. Aetna term life insurance policies are no longer in effect after you leave your job by retiring or for any other reason.
  6. Conversion – Aetna Group Life can be converted to Whole Life Insurance if desired and proper procedures are followed. Most but not all Shelter Term Life Insurance Policies can be converted to Whole Life Insurance without further medical evaluations.
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Aetna’s Life Insurance Policies

Aetna Life Insurance is set up to service the needs of employees during their working years. The types of policies they offer reflect this purpose. All of the policies are term policies. Some of their features, however, make them more advantageous than a straight term life insurance policy.

Basic Term Life Features

  1. Coverage – You are covered in the event of your death during the term of the policy.
  2. Cost – The employee pays little or nothing for the basic plan.
  3. Accelerated Death Benefit (ADB) Option – In the event that you become terminally ill while covered by an Aetna Basic Term Life Policy, you can request an ADB to be paid to you so that you will receive the payout when you need it.
  4. Conversion – If you leave employment with the company where you have the Group Term Life Insurance Policy, you have the option to convert it to another policy.
  5. Premium Waiver – In certain circumstances, if you become disabled, premiums will be waived without the policy being dropped.
  6. Portability – A portability feature may be available with Aetna Term Life that allows you to take it with you if you leave the company.

Additional Aetna Term Life Policies

Aetna has a bundle of group term life policies that work together to create a complete insurance package for employees. Some of these coverages are optional. The employee must decide the level of coverage needed and the special benefits he wants to receive.

  • The Supplemental Life Policy ups the benefit amount in case you have a greater need than is covered by the Basic Term Policy.
  • The Accidental Death and Personal Loss Policy covers the employee in the event of death or certain bodily injuries that happen as a result of an accident. Several options are available with this coverage, including child care, education, coma and passenger restraint benefits.
  • The Dependent Life Policy is available to pay the employee in case of the death of one of his dependents. Its provisions are similar to the Basic Term Life Policy.
  • A Dependent AD & PL Policy is also available with similar provisions to the employee Accidental Death and Personal Loss Policy.

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Shelter’s Life Insurance Policies

Shelter offers a wide range of both Term Life and Permanent Life Policies. The differences are distinct, and an introduction to permanent life policies is a starting point in understanding what Shelter has to offer.

Permanent Life

  • Lasts over a long period, usually for the insured person’s entire life.
  • Has a cash value that can be taken out in loans or withdrawals in times of need.
  • If you cancel, you will receive the current cash value of the policy
  • Has a maturity date, usually at age 100, when a benefit is paid.
  • Whole Life has highest cash value.
  • Secure Whole Life is the most inexpensive whole life policy.
  • 20-Year Whole Life is paid in full after 20 years.
  • Universal Life offers the option of increasing or decreasing premiums with changing life circumstances.
  • Whole Life and 20-Year Whole Life may earn dividends regularly.
  • Withdrawals or loans not repaid will reduce the death benefit.


Aetna and Shelter Life Insurance Company are vastly different in the products they offer. While Aetna specializes in serving employers and employees, Shelter focuses on individuals. Aetna sells term insurance of different types, but Shelter sells both term and permanent life policies. Choosing a life insurance company begins with understanding its policies.

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