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To be eligible for the Group Elite LTD Plan, the firm must meet all of the following requirements:

  • The firm must be actively practicing public accounting or AICPA member(s) must retain at least 50% ownership of the firm if it is not in public accounting. 
  • The proprietor or at least one partner or firm member must be an AICPA member.
  • The firm must have a least 25 insured individuals and the firm must have at least one employee, other than the proprietor, partner, or firm member.   
  • The firm's principal office must be in the United States (firms in Iowa are not eligible).

Who may be covered?
Proprietors, partners or firm members and full-time employees are eligible for coverage. For employees, full-time means working in the firm for a minimum of 20 hours per week and not less than five months in a calendar year. For proprietors and partners, full-time means working for the firm a minimum of 20 hours per week. Depending on the option elected by your firm, you may request insurance on an immediate basis (starting date) or after completing six months of continuous service.

What is the maximum period benefits are paid?
After a covered accident or illness, monthly disability income benefits will continue based on the insured's age at the time of the claim. If disability begins under age 61, your maximum payment period is to your normal Social Security retirement age, but not less than 60 months. If disabled at ages 61 through 64 payments continue to retirement, but not less than 48, 42, 36 or 30 months respectively. If your disability begins at ages 65 or over, benefits will continue for 24, 21, 18, 15 or 12 months respectively.

Are disability benefits taxable?
It depends upon which of the benefit levels the firm selects. There are four benefit levels available: 

  1. Pre-tax contributions and taxable benefits of 60% of pre-disability earnings (100% firm paid), 
  2. Pre-tax contributions and taxable benefits of 66 2/3% or pre-disability earnings (100% firm paid), 
  3. After-tax contributions and tax-free benefits of 60% of pre-disability earnings (100% employee paid) 
  4. After-tax contributions and tax-free benefits of 60% of pre-disability earnings (100% firm paid with gross up earnings).

I already have a Group Life policy with the AICPA Group Insurance Plan; how can I request coverage for Group Elite Long Term Disability?

One of our Group Sales Specialists can review your options and provide a customized quote for a Group Long Term Disability Plan for your firm. Please call 1-800-223-7473 and request a Group Elite Long Term Disability quote.

Important Notice: These frequently asked questions are for illustrative purposes only and is not a contract. It is intended to provide a general overview of the certificate described. Please remember that the insurance certificate governs actual terms, coverages, amounts, conditions and exclusions.

What is the Elite Life Plan?
Designed for firms with 25 or more lives, the Elite Life Plan provides term life coverage for firm owners, firm members and employees. The Plan offers competitive pricing with upfront cost savings. Optional benefits include AD&D, disability waiver of premium insurance protection to age 60, and dependent life insurance.

How can I enroll my firm in the Elite Life Plan? 
If you would like to enroll your firm in the Elite Life Plan, please call 1-800-223-7473 to speak with one of our Group Insurance Specialists who can provide quotes and options to meet your firm's life coverage needs.

Who may be covered?
Proprietors, partners or firm members, and full-time employees are eligible for coverage. Full-time means employees working in the firm for a minimum of 20 hours per week and not less than five months in a calendar year.

What are the options for waiting periods for new firm personnel?
You can select the option to make coverage available to the eligible individuals on an immediate basis (starting date) or after completing six months of continuous service. The option for waiting periods for new firm personnel is elected when the firm sets up the Plan.

If dependents coverage is elected, which dependents are eligible?
Eligible dependents typically include the spouse and children of individuals who are insured under the Plan. Included are legally adopted children and step-children who are dependent on insured members for support and maintenance, provided in the case of the step children, that a biological parent has given written consent for the coverage. Children must be unmarried and less than age 25. The spouse may not be on active duty in the armed forces. Firm personnel covered under the Plan cannot also be covered as dependents.

Continued Coverage for an Incapacitated Child: This applies to the Dependents Insurance you have for a child. The insurance for the child will not end on the date/the age limit in the definition of Qualified Dependent is reached if both of the following conditions are true: (1) The child is then mentally or physically incapable of earning a living. Prudential must receive proof of this within 31 days; (2) The child otherwise meets the definition of Qualified Dependent. If these conditions are met, the age limit will not cause the child to stop being a Qualified Dependent under that Coverage. This will apply as long as the child remains so incapacitated.

Important Notice: These frequently asked questions are for illustrative purposes only and is not a contract. It is intended to provide a general overview of the certificate described. Please remember that the insurance certificate governs actual terms, coverages, amounts, conditions and exclusions.

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