Group Insurance for Firms
Coverage, Schedules, and Costs
Choice of Six Schedules of Insurance
Your firm can choose from schedules of coverage with insurance maximums of $500,000,
$400,000, $300,000, $200,000, $100,000, or $50,000. The insurance under this Plan is issued by The Prudential Insurance Company of America.
Proprietors or partners under age 65 are covered for the scheduled maximum without regard to earnings.
Choice of Earnings Coverage
Employee coverage is based on annual earnings. For your firm's coverage basis,
a choice of protection from one to three times salary is available depending on the schedule of coverage elected.
Monthly Gross Contributions per $1,000
Coverage includes $1,000 of term life insurance plus $1,000 of accidental death
and dismemberment insurance.
| Ages: | |
| Under 30 | $0.05 |
| 30-34 | $0.07 |
| 35-39 | $0.09 |
| 40-44 | $0.10 |
| 45-49 | $0.15 |
| 50-54 | $0.23 |
| 55-59 | $0.43 |
| 60-64 | $0.76 |
| 65-69 | $1.52 |
| 70-74 | $4.00 |
| 75 and over | $4.60 |
The rates charged change as your employees enter higher age categories or if the rates are changed for that class.
Cash Refunds
Although cash refunds have consistently flowed back to participating
firms and reduced their cost of coverage for more than 40 consecutive years,
refunds are never guaranteed. Cash Refunds are paid by the Trust from premium refunds received from Prudential.
What you can count on are lowest net costs consistent with sound business practices as a constant objective for the Plan.
| Schedules and Examples of Term Life Insurance Amounts |
| An equal amount of accidental death and dismemberment |
| coverage is also provided |
Coverage for Proprietors/Partners: Firm Maximum Schedule |
| $500,000 |
| $400,000 |
| $300,000 |
| $200,000 |
| $100,000 |
| $50,000 |
|
(Click to see the Coverage Amount)
|
|
Click here
to print all Coverage Amounts.
|
Coverage amounts for ages 65 and over.
-
For ages 65-69, coverage will be 75% of the amounts applicable for ages through 64.
-
For ages 70-74, coverage will be 50% of the amounts applicable for ages through 64.
-
For ages 75-79, coverage will be 35% of the amounts applicable for ages through 64.
-
For ages 80 and over, coverage will be 25% of the amounts applicable for ages through 64.
Coverage is based on the earnings basis as elected
by the firm, rounded up to the nearest thousand and subject to the Schedule
maximum. Annual earnings do not include bonus or overtime, or compensation
from any other employer. Coverage amount and age as shown on the individual's
request for coverage will be used.
Insurance for an individual not actively at work on the day coverage would
otherwise begin will become effective on the day he or she returns to active
work. Increases in an individual's amount of insurance occur on the October
1 following a change in classification or in earnings if then actively at
work full-time, otherwise on the date of return to active work full-time.
Decreases occur on October 1, whether or not the individual is actively
at work full-time.
The Prudential Insurance Company of America, is the issuing company for the coverage under the AICPA Group Insurance Plan. Principal offices are at 751 Broad Street, Newark, NJ 07102-3777. Telephone (973) 802-6000. The Prudential Insurance Company of America is authorized to conduct business in all states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands. This is intended to be a summary of benefits and may not include all plan provisions, exclusions and limitations. Contract Series 31300
| Insurer issued codes | ||
| California COA#1179 | NAIC # 68241 | |
| IFS- A122795 | Ed 9/2008 | |
|
|
|
