AICPA Life Insurance Company Review (2024)

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

Read more: What is a preferred risk class for life insurance, and how can I qualify for it?

The following AICPA Life Insurance rate table shows the average monthly preferred 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

As you can see, affordable AICPA Life Insurance rates are lower for younger members and rise as members age.

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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 plans but no longer does. As previously mentioned, Prudential underwrites all of the policies.

The CPA Life Express policy is a guaranteed-issue whole life insurance 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. These standard 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.

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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 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, members that submit a claim will receive their life insurance benefits within two weeks. However, it can take up to 60 days for the organization to process the claim for policy owner and provide the payout.

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’s insurance program 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, optional coverages, 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.

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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 Company Effortless Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

AICPA Life Insurance offers its members a streamlined process for filing claims. Members have the flexibility to file claims through multiple channels, including online, over the phone, and even through mobile apps. This convenience ensures that policyholders can initiate the claims process in a way that suits their preferences and circumstances.

Average Claim Processing Time

One of the crucial aspects of any life insurance policy is the speed at which claims are processed. AICPA Life Insurance strives to provide timely claim settlements to its members.

On average, the company processes claims efficiently, with most policyholders receiving their benefits within two weeks. However, it’s important to note that the processing time may vary depending on the specific circumstances of the claim.

Customer Feedback on Claim Resolutions and Payouts

The satisfaction of policyholders with the claim resolutions and payouts is a vital factor in evaluating the performance of a life insurance provider. While AICPA Life Insurance itself does not underwrite the policies, it partners with Prudential, a highly-rated insurer.

Prudential’s strong financial standing and positive ratings from credit agencies like A.M. Best, S&P, and Fitch provide assurance that policyholders are likely to receive payouts when needed. Additionally, customer feedback and reviews can provide valuable insights into the overall claims experience, helping potential policyholders make informed decisions.

Unveiling Cutting-Edge Digital and Technological Features by AICPA Life Insurance Company

Mobile App Features and Functionality

In today’s digital age, having a user-friendly mobile app is a significant advantage for life insurance policyholders. AICPA Life Insurance understands the importance of digital convenience and offers a mobile app that provides policyholders with easy access to their accounts and essential information.

The app is designed to offer features and functionality that enhance the overall customer experience, allowing users to manage their policies, file claims, and access resources conveniently from their smartphones.

Online Account Management Capabilities

In addition to the mobile app, AICPA Life Insurance provides robust online account management capabilities through its website. Policyholders can log in to their accounts to view policy details, update personal information, and make premium payments securely.

This online portal simplifies policy management, making it easier for members to stay informed and in control of their life insurance coverage.

Digital Tools and Resources

AICPA Life Insurance goes beyond basic coverage by offering a range of digital tools and resources to its members. These resources can include educational materials, calculators, and guides to help policyholders make informed decisions about their life insurance.

Whether it’s understanding the different policy options or estimating coverage needs, these digital tools are valuable assets for policyholders looking to maximize the benefits of their AICPA life insurance policies.

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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.

Enter your ZIP code below to compare cheap life insurance rates.

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