AICPA Life Insurance Company Review (2022)
Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina.
He has also earned an MFA in screenwriting from Chapman Univer…
Full Bio →
Written by
Jeffrey Johnson
Insurance Lawyer
Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.
Full Bio →
Reviewed by
Benji Carr
Former Licensed Life Insurance Agent
UPDATED: Feb 10, 2022
Advertiser Disclosure
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from top life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
The Facts of Life
AICPA Life Insurance is only available for AICPA members
AICPA provides term life and whole life coverage to members
AICPA offers life insurance through a partnership with Prudential
AICPA provides term life and whole life insurance through a partnership with Prudential. Coverage is only available for AICPA members and their families. The organization also offers multiple riders that members can add to their policy.
Knowing more about AICPA Life Insurance will help you decide if it’s the best option for you.
Before jumping into this AICPA Life Insurance review, enter your ZIP code to find free life insurance rates in your area.
What are the AICPA Life Insurance rates?
Life insurance companies use an applicant’s risk when determining rates. Riskier applicants will experience higher rates because they’re more likely to die prematurely. Companies use various factors when determining the risk of applicants, including:
Age
Gender
Health
Occupation
Smoking habits
When determining rates, companies place applicants into risk classes. While not all companies use the same names, these risk classes include:
Preferred plus
Preferred
Standard plus
Standard
Substandard
The following AICPA Life Insurance rate table shows the average monthly rates for a male 10-year term policy at $100,000 based on age.
Average Monthly AICPA Life Insurance Rates for a Male 10-Year Policy at $100,000 Based on Age
Policyholder’s Age Preferred AICPA Life Insurance Rates
25$6.80
35$6.80
45$11.20
55$25.60
65$67.40
#blank#
As you can see, affordable AICPA Life Insurance rates are lower for younger members and rise as members age.
Enter your ZIP code below to compare cheap life insurance rates.
Secured with SHA-256 Encryption
What coverages are offered by AICPA Life Insurance?
AICPA members can obtain life insurance through a partnership between the AICPA insurance trust and Prudential. Coverage is only available for AICPA members, but Prudential issues the policies.
AICPA offers five term life and whole life plans. The organization used to offer indexed universal life insurance but no longer does. As previously mentioned, Prudential underwrites all of the policies.
The CPA Life Express policy is a guaranteed-issue whole life plan. Members can apply for this policy between 18 and 39 years of age and up to $1 million in coverage. The policy guarantees coverage until the insured is 80 years old.
In addition to AICPA members, you can also obtain coverage if you’re a member of your state’s CPA society. However, the maximum value for these applicants is $500,000. Regardless of how you obtain coverage, you must work an average of 17.5 hours per week to qualify.
Despite being a whole life plan, this option doesn’t have a cash value. However, applicants don’t have to fill out a health questionnaire or take a medical exam, making it ideal for those with pre-existing health conditions.
The CPA Life policy is a simplified-issue whole life policy for applicants between 18 and 74. Like the CPA Life Express plan, it lasts until the insured is 80 and has no cash value.
The difference between the two plans is that the CPA Life option has a maximum value of $2.5 million. This increased value is because every applicant has to answer basic health questions. Most people don’t require a medical exam, but that might be needed as well.
The Spouse Life plan is a whole life policy for the spouses, partners, and children of AICPA members. Featuring a maximum value of $2.5 million, members can apply up to the age of 75. Like the two previous plans, coverage is guaranteed until the age of 80 if you remain an AICPA member.
Additionally, applicants must answer some basic health questions, and the plan features a rate increase in five-year age bands after age 30. However, the policy doesn’t require applicants to take a medical exam.
The Level Premium Term Life policy is the organization’s term life insurance policy for AICPA members. Coverage is available up to $2.5 million and has level rates over the term. The level rates mean members won’t experience increases as they become riskier to insure.
While applicants 55 or younger can obtain 10 or 20-year terms, those 56-65 can only get a 10-year term. After the term ends, members can purchase another term or extend the existing policy up to age 95.
The Spouse Level Premium Term Life policy is for the spouses and children of term life members. The plan features the same lengths, coverage limits, and age requirements as the Level Premium Term plan. However, you can’t get more coverage than the AICPA member.
In addition to life insurance, members can also obtain other insurance plans, including AICPA health insurance and AICPA professional liability insurance.
Does AICPA Life Insurance offer riders?
Most life insurance companies offer options that customers can add to a policy. These riders allow policyholders to customize their policy for additional coverage. AICPA also provides several riders through Prudential.
The accelerated death benefit rider is the most common option, allowing a policyholder to access a portion of the death benefit before death if they have a chronic, critical, or terminal illness. This rider is usually free of charge with permanent policies.
AICPA and Prudential also offer other optional riders that members can add for a fee. AICPA Life Insurance company optional riders include:
Accidental death and dismemberment rider
Dependent child rider
Waiver of disability rider
AICPA offers fewer riders than most life insurance companies. Additionally, adding riders to a policy will increase AICPA Life Insurance quotes.
How is AICPA Life insurance rated?
Credit rating agencies regularly review insurance companies and rate them based on their financial strength. These ratings allow customers to determine the likelihood of receiving a payout when they file a claim.
Credit rating agencies haven’t rated AICPA as they don’t underwrite the policies. However, viewing the ratings of Prudential will help members determine if they’ll receive a payout.
Prudential has been rated an A+ by A.M. Best, an AA by S&P and Fitch, and an Aa3 by Moody’s. These are excellent ratings and indicate that AICPA members will receive a payout when they file a claim.
Enter your ZIP code below to compare cheap life insurance rates.
Secured with SHA-256 Encryption
Does AICPA Life Insurance have any complaints?
Since AICPA doesn’t issue life insurance policies, it’s best to see how customers view Prudential. To determine Prudential’s quality of service, you can examine the Better Business Bureau (BBB) and National Association of Insurance Commissioners (NAIC) complaint reviews.
At the time of this review, the BBB has received 223 complaints about Prudential over the past three years. Of these 223 complaints, 171 are about Prudential’s products and services, and 39 are about its billing and collections.
The NAIC’s website says that Prudential has 171 complaints. According to NAIC, Prudential’s complaint index ratio is 0.99, indicating that the company has about the same number of complaints as the average competitor of a similar size.
How can you file AICPA Life Insurance claims?
Members can file claims by calling the main AICPA phone number, which handles all AICPA insurance customers, at 1-800-223-7473. After the initial call, you’ll receive a claim form to fill out and return with a copy of the death certificate.
In most cases, members that submit a claim will receive their benefit within two weeks. However, it can take up to 60 days for the organization to process the claim and provide the payout.
How can you cancel AICPA Life Insurance policies?
While many insurance companies allow customers to file claims online or by phone, most companies require customers to call the company to cancel a policy. Similarly, AICPA members can only cancel a policy by contacting the organization’s insurance line at 1-800-223-7473.
In most cases, the policy will stop when the next payment is due. Additionally, it can help to ask about a partial refund, which might be available depending on when you cancel the policy and how long it’s been in effect.
Enter your ZIP code below to compare cheap life insurance rates.
Secured with SHA-256 Encryption
What are the pros and cons of AICPA Life Insurance?
Insurance companies have positives and negatives that can help potential customers decide if it’s a quality company. Similarly, AICPA has its own pros and cons that customers should consider before they buy AICPA Life Insurance.
The AICPA pros include that the organization has a variety of riders, multiple no-exam plans, and it’s easy to apply online. These aspects allow members to customize their policy and obtain easy acceptance.
Negatives of AICPA Life Insurance include that the organization is only available to AICPA members and has limited policy types. Additionally, the only way to reach customer service is by phone or by filling out an online form.
Who is AICPA Life Insurance?
The American Institute of Certified Public Accountants (AICPA) dates back to 1887, though it has changed names several times. The current organization came to be in 1921, and it has used the current name since 1957.
The organization started providing life insurance to members in 1947 with group life insurance. The organization partnered with Prudential in 1959 and still provides coverage to AICPA members.
AICPA Life Insurance: The Bottom Line
AICPA provides life insurance to members and their families through a partnership with Prudential. The company has five term and permanent life policies, and multiple riders allow members to customize their plans.
Learning more about AICPA Life Insurance will help you decide if it’s the right option for you.
Now that you know about AICPA Life Insurance, enter your ZIP code to get free life insurance quotes in your area.
