Q. Who is eligible for coverage?
A. AICPA members up to age 55 can request a 10- or 20-year level period. Those 56–65 can request a 10-year level period.
For Spouse LPT coverage, your spouse's age and your age determine the level period you may request. AICPA members and their spouses age 55 and under can request a 10- or 20-year level period. If the member or his/her spouse is 56–65 years old, a 10-year Spouse LPT level period can be requested.
You can request Spouse LPT coverage if you are eligible for coverage and your spouse doesn't already qualify for an AICPA life insurance plan. He or she must also be age 65 or less and live in the United States or certain U.S. Territories.
Q. Do I have to maintain membership with the AICPA to keep my LPT coverage?
A. Yes, you must maintain your membership to keep your current coverage. However, you have the option to convert your coverage to an individual insurance policy if you cancel your membership. Learn more on our Exclusions and Notices page.
Q. Is the cost of Spouse LPT coverage based on my spouse's age?
A. Yes. View the rates here.
Q. Can I apply for an LPT Plan if I already have coverage under another AICPA Life Insurance Plan?
A. Yes, you can apply for LPT coverage if you already have a CPA Life insurance plan. Your total coverage amount under all plans may not exceed $2.5 million if you are under age 55, $2 million if you are 55–64 years old, or $1.5 million if you are 65-69; and $750,000 if you are age 70-74. The same limits apply separately for Spouse LPT, based on the CPA's eligibility.
Q. What happens at the end of my level period?
A. If you are an AICPA member age 55 and under when your level period expires and your coverage is not at your maximum eligible amount, you may apply again for either a 10 or 20-year period. If you're 56-65 when your term expires, you can apply for a 10-year period. Or, you can apply for coverage under a different Plan, such as CPA Life and Spouse Life or another member Life Plan. If you don't qualify for another AICPA Plan based on your age (or in the case of your spouse's coverage, his or her age) or submit additional applications, you can continue your current LPT coverage by paying an annual premium that increases each year, up to age 95.
Q. Can I change my LPT coverage amounts after the initial application is approved?
A. After the LPT certificate is issued to you as the participant, you can reduce the coverage amount at any time. And, while you cannot increase the coverage amount within your existing LPT certificate, you can apply for additional coverage under another certificate. However, your total amount of LPT coverage, when combined with any other AICPA-sponsored life insurance that you may have cannot exceed the maximum amount that you're eligible for.
Q. Can I change my coverage options after the initial LPT application is approved?
A. While you can cancel your coverage options at a later time, you can only elect them when you initially apply on the LPT request form.
Q: Do I need to have coverage under the Member LPT Plan in order to get coverage for my spouse under the Spouse LPT Plan?
A: No. You can have coverage under the Spouse LPT Plan even if you don't participate in any AICPA Life Plans.
Q. Do I need to complete the entire application to request additional coverage, even if I have had no medical changes since I last applied?
A. Yes, a new application is required if you're requesting additional coverage. Apply here for additional member coverage. Click here to apply for additional spouse coverage.
Q. What are Select & Preferred Rates?
A. Select rates are lower than Standard rates for participants aged 45 + who submit satisfactory evidence of good health. In most cases, you won't need a medical exam. If approved, you'll keep your Select rates for your level period. After this period, you'll need to resubmit evidence of satisfactory health to Prudential to requalify for these rates. These criteria apply to your spouse as well. Click here to view Select rates.
Preferred Rates offer the lowest rates for participants who submit satisfactory evidence of excellent health. If approved, your Preferred status will stay in effect for your level period. After this period, you'll need to resubmit evidence of satisfactory health to Prudential to requalify for Preferred rates. These criteria apply to your spouse as well. Click here to view Preferred rates.
Q. If I apply for additional coverage and it's denied, does my existing coverage remain in effect?
A. Yes, your current coverage remains in force even if you are denied additional coverage.
Q. How do I make payments?
A. You can pay online with an e-check through our Online Self-Service Center. But you must first register at www.trustmyaccount.cpai.com. It's easy, secure and takes just a moment of your time.
You can also pay by check or through your bank's bill payment service. We are unable to accept checks by phone at this time. Checks should be made payable to "AICPA Insurance Trust" and mailed to:
AICPA Insurance Trust
Aon Insurance Services
PO Box 0516
Carol Stream, IL 60132-0516
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