AICPA Life Insurance - Plan Benefits and Cost Comparisons (2023)

AICPA life insurance benefits are available to members and their families who meet the eligibility requirements and are in good standing.

There are several different plans to choose from, so it's important to review your options and choose the plan that's right for you.

Learn more about the AICPA life insurance program and how competitive it is with the custom term protection available to purchase on the open market.

quick link navigation

  • What is AICPA life insurance?
  • What is the term of the AICPA level premium?
  • What is CPA life and spouse life?
  • How does the AICPA life insurance cash back work?
  • Is AICPA coverage more expensive than term life insurance?
  • What is the variable universal life of the AICPA group?
  • How do I buy cheap term life insurance?

AICPA Life Insurance - Plan Benefits and Cost Comparisons (1)AICPA Life Insurance

Many accountants begin their evaluation process by looking at the costs and benefits of AICPA life insurance currently offered to members of the American Institute of CPAs.

AICPA insurance programs have been available since 1947 to meet the diverse insurance needs of accountants and their families.

AICPA Life Insurance offers members group life insurance through the highly rated Prudential Life Insurance Company.

We'll cover the highlights of all three plans in our comprehensive AICPA life insurance report.

AICPA Life Insurance Plans

  • Tier Bonus Term
  • CPA Life and Spouse Life
  • Group variable Universal life

AICPA Life Insurance - Plan Benefits and Cost Comparisons (2)

Tier Bonus Term

Is AICPA Tier Premium Term Right For You?

That's a question only you can answer, but this type of term life insurance is worth reviewing to make sure you're making the best decision for your family.

Let's see what AICPA level life insurance offers accountants by examining the features and benefits of the plan.

AICPA Level Premium Term Plan

  • AICPA membership is required to purchase AICPA Level Premium Term
  • Tier Premium term allows up to $2.5 million in coverage
  • AICPA-level premium term locks in your rates for 10 or 20 years
  • After the initial term, fees increase annually
  • LPT has a maximum output of 65 to request coverage
  • Coverage for the Level Premium Term ends at age 95
  • Standard fees for accountants who do not wish to take an exam
  • If you are in good health, you may qualify for a lower preferential rate
  • A preferred rating requires full subscription and review
  • Award refund is available upon AICPA level award term
(Video) AICPA Member Life Insurance Programs - Which plan is right for your family?

AICPA Life Insurance - Plan Benefits and Cost Comparisons (3)

CPA Life and Spouse Life

CPA Life and Spouse Life insurance offers a convenient way to protect your family's future.

But before you buy CPA Life, it's important to understand the pros and cons so you can decide whether or not this type of coverage is right for you.

The AICPA CPA Life Plan

  • AICPA membership is required to purchase CPA Life and Spouse Life
  • Death benefits vary by age from $10,000 to $2,500,000
  • Both CPA and civil partnership life insurance are age dependent
  • CPA life insurance rates will increase in cost every time5 years
  • There are tariff classifications: Preferential, Select and Standard
  • Most people may be eligible for coverage
  • Your spouse is calculated separately and cannot have more coverage than you
  • The maximum age to participate in this plan is 74 years.
  • At age 75, coverage is reduced by 50%
  • Insurance coverage ends at age 80
  • A premium refund is possible with CPA Life

AICPA Life Insurance - Plan Benefits and Cost Comparisons (4)

AICPA Insurance Trust Reimbursement

Prudential provides life insurance coverage, while AON administers the AICPA insurance trust for group members.

HeAICPA Insurance Trustsends the annual premium refund in February.

Bothgroup insuranceoffer accountants an annual cash rebate in mid-February of each year.

The available AICPA rebate ranges from 10% to 40% and is calculated based on your age group and underwriting class.

As you get older, your premiums will become more expensive and the reimbursement available will decrease.

From the beginning, Prudential has always paid its policyholders an unguaranteed cash refund.

However, refunds are not guaranteed and will vary depending on how Prudential is used to pay claims and overhead.

So Prudential just overestimates the cost of coverage to have a cushion when you have higher claims for the year.

AICPA life insurance cash back does not earn interest and is not a cash value of the policy, it is simply a refund of your money.

In other words, the CPA life insurance plan charges you for one year's life insurance and then reimburses you.

While this often seems like a lot, accountants can assess the true cost with a little analysis of the AICPA benefits.

(Video) Why Whole Life Insurance Is A Rip Off!

AICPA Life Insurance - Plan Benefits and Cost Comparisons (5)Lifetime CPA vs Runtime

AICPA life insurance rates make financial sense when you're younger or have serious health problems.

However, as accountants age, AICPA age-by-age life insurance rates are significantly more expensive than open market rates.

If you are in good health and lookingAffordable life insurance for people over 50, it is always cheaper to buy individual term insurance outside of AICPA Prudential group insurance.

Quick example:

Lifetime CPA vs Individual cover

These are the applicable AICPA cash back CPA life insurance rates compared to the cost of 55 and older term life insurance rates available in each market.

Aicpa Life Insurance Rate Table

500.000 $Class55-5960-6455-6970-74
cpa lifeChoose$140$270$485$970
cpa lifeStandard$270$480$8451.510 $
term 20
  • Male, $500.00, 55 years old, non-smoker, preference plus
  • Term 20 is $500,000 for a term of 20 years
  • AICPA Life Insurance Reimbursement Not Applied
  • AICPA Escrow Refund 2021, Selected, 38% 55-59, 28% 60-74
  • AICPA Trust Refund 2021, Standard, 20 % Alter 55–59, 10 % Alter 60–74

Wait Before Making Decisions About AICPA Insurance!

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You can select quotes between 10, 15, 20 and30 year termwith our life insurance calculator.

We are not a call center likeAccumulate,select offer,gran lou, YAT direct, and we won't bother you with endless phone calls.

Compare AICPA Quotes for Life Insurance

AICPA Life Insurance - Plan Benefits and Cost Comparisons (6)

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(Video) Long Term Care Insurance 101 - Cost, Benefits, Features

AICPA Life Insurance - Plan Benefits and Cost Comparisons (7)Group variable Universal life

When browsing the AICPA website looking for life insurance policies, you may have come across a Group Variable Universal Life (GVUL) policy.

While these policies can be beneficial for some, they often have high rates and are not always the best option.

We will take a look at GVUL's guidelines and whether or not they are the right choice for you.

AICPA Group Variable Universal Life

  • Maximum coverage of $2,500,000
  • Insurance coverage up to 100
  • Premium increases are made based on age every 5 years.
  • Life insurance protection up to 100.
  • Investment opportunities with tax privileges and a fixed account
  • The ability to make withdrawals and loans.

It is important to remember that AICPA group variable universal life insurance has premiums based on age and a present value component within the policy.

Hecash valuesUniversal Life Insurance may be invested in various funds within the Prudential Group.

These separate accounts require a basic understanding of these investments and reading the prospectus which is available atAICPAinsurance side.

However, the AICPA group's variable universal life behaves like a five-year policy along with a forced savings element.

This may be the reason why no new coverage is currently sold under the GVUL insurance plan.

According to the AICPA website, they plan to come up with a new plan in the future.

Meanwhile, accountants looking to purchase permanent coverage should consider both.indexed universal lifeo Life insurance coverage.

both universal andwhole life insuranceThey offer bonuses that can be guaranteed for life and money value creation.

AICPA Life Insurance - Plan Benefits and Cost Comparisons (8)buy life insurance

When it comes to buying life insurance, there is a lot of misinformation out there.

Some people believe that the application process is complicated or that you must be in perfect health to be eligible for coverage.

(Video) Life Insurance for Life Beyond by Ed Slott, CPA

the simplicity ofbuy online nowThis may be why many accountants choose to purchase expensive term life insurance through one of the AICPA programs.

However, our agency will approve coverage for many people with various medical conditions within a few weeks.

Wow, that sounds interesting!

AICPA Life Insurance - Plan Benefits and Cost Comparisons (9)

Should I replace my AICPA life insurance?

It is important to determine if you qualify for individual term life insurance before replacing AICPA life insurance.

Some insurance companies require a brief insurance check, while other companies offer insurance without exam.

Depending on your age and the amount of coverage you need, the insurance company may request medical information from your physician (APS).

We can quickly send your medical records to many companies to find you the most competitive life insurance rates in America.

We'll provide you with comparisons between an AICPA life insurance policy and a policy purchased from a single insurance company in just a few weeks.

AICPA Life Insurance - Plan Benefits and Cost Comparisons (10)

best life insurance company

Because so many companies sell life insurance, it is often difficult to find the best US life insurance rates.

We are confident that purchasing an individual policy can save you money over purchasing AICPA life insurance coverage.

We are not high pressure salespeople or call centers like the agents they work offer,term finder, YAccumulate.

We promise not to bother you with endless phone calls!

Here's a list of companies that offer affordable life insurance and the highest ratings from the Better Business Bureau, AM Best, and J.D. offer power.

I'm the best
JD power
Equitable AXAA+A+752
flag lifeA+A+N / A
light houseA+A+N / A
save lifeA+A++760
John HancockA+A+739
financial lincolnA+A+744
mass reciprocityA+A++780
Omaha Mutual SocietyA+A+766
pacific lifeA+A+N / A
main financingA+A+774
I'm sorryA+A+N / A

Associated AICPA Life Insurance Programs

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AICPA CPA Life Insurance Review

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AICPA, Universal Variable Group Life


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