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 Forethought Life Insurance

In the fiercely competitive world of insurance providers, two names in the world of life insurance bear comparing. These are Aetna and Forethought Life Insurance. There is a great difference between the two in terms of history seeing as Aetna was founded in 1853 compared to Forethought which was incorporated in 1980.

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What Aetna Can Offer

Aetna is a stable company that has been serving the life insurance needs of not just individuals but companies and even students. Aetna is also one of the biggest insurance companies in the USA and is a member of the prestigious Fortune 100 companies in America.

There can be no doubt that Aetna has made good in the past century and will continue to be a major player in the insurance industry. The insurance company has not been lacking in improvements and innovations either.

In 2011 it was awarded for its use of paperless contract processing and is the first of its kind in their field to go electronic in this matter. Aetna has also been acknowledged as one of the top companies whose business transactions are open, efficient and straightforward.

Employees who reviewed their company HMOs also gave Aetna thumbs up and gave them a rating of: good. And despite the furor created over the information regarding the provision for insurance to slave owners in 1860, Aetna has shown its support for ethnicity and diversification through initiatives that support the African-American community.

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The Benefits of Having Forethought Life Insurance Company

Forethought Life Insurance may not have the illustrious history of Aetna but it has proven that ‘new guys’ can be contenders for giving quality life insurance as well. In its three decades of existence, the benefits this company has offered to the people cannot be denied either.

It is a company that now has around 4.9 billion in assets and premiums and now has more than $1 billion in annual revenues. Its impressive performance has been recognized by Ward’s 50 – an award given by the Ward’s Group who looks at a company’s performance over a 5-year period and Forethought has been given this prestigious honor for two years in a row.

The award was based on a company’s revenue growth as well as the results for underwriting and financial returns. It is also continuously innovating to provide services that are sensitive to the needs of its insurers in the light of the current financial condition of the economy. They have also enabled their clients to apply at-need assignments online. This is certainly good news in today’s internet based market.

Forethought is aware of the need for people to be ready if it’s the right time to leave the earth and have very practical insurance products that help their clients prepare for this time. This way, their loved ones will not bear the double burden of loss and the preparation and expense for giving them a decent funeral. It is practical yet sensitive at the same time and Forethought has earned a nice reputation for itself in this niche.

How is Aetna better than Forethought Life Insurance Company?

If you look at the two companies, you would wonder which insurance company is better. In terms of experience in the life insurance industry, Aetna wins hands down.

There is no substitute for century long experience and you better believe that Aetna uses this experience not only because the company would benefit from this but also in the formulation of its policies as well. They wouldn’t have gotten their A+ rating if they haven’t got the FSR or Financial Strength Rating to meet the needs of their policy holders.

Not Just For the Benefit of the Company But…

You are looking at one stable company that will be more than able to serve their client’s requirements. Aetna’s interests are diverse and they have the means to help its insurers in their healthcare needs.

It is a known group insurance provider which is often favored by a huge amount of employers to service the insurance subscription needs of their employees but it also allows flexibility for the employees to tailor fit their coverage including a dental plan which is quite valuable in itself.

The company can also fit their business insurance packages for firms depending on the number of their employees so that even small firms can avail of an insurance package for their employees. They also have pension and annuity funds available in their retirement products. It is a good bonus for employees who want to actively prepare for their retirement.

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Why Consider Forethought Life Insurance Company a Better Alternative than Aetna?

However, Forethought Life Insurance is no small potatoes in giving service to its clients either. If Aetna is a giant in the employee insurance arena, Forethought can hold its own in its niche as well. Forethought is better than Aetna mainly because it is not what Aetna is.

Forethought is a smaller company so it stands that it is more able to handle your personal concerns as a policy holder because it is a smaller company compared to Aetna. Easily, one might be exasperated and stressed hearing so much complaints of millions of other policy holders in a huge insurance company.

Their customer care is probably more approachable if this is the case. In terms of company stability and ability to provide for the policy subscriptions of its policy holders, Forethought is well and able as proven by its FSR rating of A-.

That’s something which you should jeer at when you ponder about how you are comparing it to a century old corporation. Moody’s rates it as A3 or 7th highest out of 21ratings. According to Standard & Poor’s rating it is rated: Strong. Not bad for a three decade old company.

As a life insurance company it is also sensitive to the needs of the people not just to provide for the needs of retirement but of the inevitable as well. Its end of life packages take away the worry of the loved ones you will leave behind. You get to have peace of mind that even in this matter, you have provided.

If Asked, What Would be Your Preference?

If you were an employee of a corporation, it’s not surprising if you had Aetna as your life insurance provider. All you have to do is specify the benefits or coverage you want come enrollment day.

If you were self-employed or have no company promoted insurance then Forethought’s agents and representatives would be more than willing to assist and devote their time to you. Both insurance companies are on the internet and it would be possible to transact through there.

If you were a believer in the green movement you will certainly appreciate Aetna’s paperless transactions. Forethought would be able to give you not just life insurance but funeral planning as well. They even have online insurance assignments to make it more accessible as well.

The Best One to Choose is All Up to You

So, if you were thinking about getting insurance, these two companies are pretty solid in terms of ability to meet policy holders’ needs. Perhaps it would boil down to what service you want to have. Each company has its own specialization.

Both have annuities and both have provisions for retirement. Aetna however covers you while you are still actively working with their links to medical, dental and pharmaceutical coverage. Forethought can take care of your insurance needs even when you are a senior citizen. Both have advantages and flaws, but the best option is up to you.

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