2008 AICPA Insurance Trust Refund
Although never guaranteed, cash refunds are scheduled for mailing to eligible Subscribers mid-February, 2008. The 2008 refund details are listed below. Cash refunds paid by the Trust to subscribers are paid out of premium refunds received by the Trust from The Prudential Insurance Company of America.
Your refund is a percentage of your insurance contributions for your subscription in effect September 30, 2007 (CPA Life Insurance Plan, Group Variable Universal Life Insurance Plan or Group Insurance Plan), December 31, 2007 (Long Term Disability Income Plan) or July 31, 2007 (Long Term Care Plan) for all or part of the following periods:
- CPA
Life Insurance Plan
October 1, 2006 through September 30, 2007 - Group
Variable Universal Life Insurance Plan
October 1, 2006 through September 30, 2007 - Group
Insurance Plan
October 1, 2006 through September 30, 2007 - Long
Term Disability Income Plan
January 1, 2007 through December 31, 2007 - Long
Term Care Plan
August 1, 2006 through July 31, 2007
Refund Percentages of Contributions
A. Standard Participation
| Payment Basis | ||||||
| Annual* | Semi-Annual* | Monthly** | ||||
| Ages | Without Waiver | With Waiver*** | Without Waiver | With Waiver*** | Without Waiver | With Waiver*** |
| Under 40 | 57% | 45% | 55% | 43% | 53% | 41% |
| 40-49 | 45% | 33% | 43% | 31% | 41% | 29% |
| 50-59 | 24% | 12% | 22% | 10% | 20% | 8% |
| 60 and over | 12% | - | 10% | - | 8% | - |
| Payment Basis | |||
| Ages | Annual* | Semi-Annual* | Monthly |
| Under 40 | 56% | 54% | 52% |
| 40-49 | 51% | 49% | 47% |
| 50-59 | 41% | 39% | 37% |
| 60-74 | 36% | 34% | 32% |
| 75-79 | 12% | 10% | 8% |
B. Select Status Participation
| Payment Basis | ||||||
| Annual* | Semi-Annual* | Monthly** | ||||
| Ages | Without Waiver | With Waiver*** | Without Waiver | With Waiver*** | Without Waiver | With Waiver*** |
| 45-49 | 57% | 45% | 55% | 43% | 53% | 41% |
| 50-59 | 36% | 24% | 34% | 22% | 32% | 20% |
| 60-79 | 24% | - | 22% | - | 20% | - |
| Payment Basis | |||
| Ages | Annual* | Semi-Annual* | Monthly |
| 45-49 | 63% | 61% | 59% |
| 50-59 | 53% | 51% | 49% |
| 60-74 | 48% | 46% | 44% |
| 75-79 | 24% | 22% | 20% |
C. Preferred Status Participation
| Payment Basis | ||||||
| Annual | Semi-Annual | Monthly** | ||||
| Ages | Without Waiver | With Waiver*** | Without Waiver | With Waiver*** | Without Waiver | With Waiver*** |
| 45-49 | - | - | - | - | - | - |
| 50-59 | 32% | 20% | 32% | 20% | 32% | 20% |
| 60-79 | 20% | - | 20% | - | 20% | - |
| Payment Basis | |||
| Ages | Annual* | Semi-Annual* | Monthly |
| 45-49 | - | - | - |
| 50-59 | 53% | 51% | 49% |
| 60-74 | 48% | 46% | 44% |
| 75-79 | 24% | 22% | 20% |
A member's refund is increased by $25.00 if both the member and spouse are insured. For participants making monthly Electronic Fund Transfer payments, the annual refund is increased by $50.00. The refund is reduced by $6.00 for insureds with Dependent Child Coverage.
* Includes bonus refunds of 4% and 2% for the annual and semi-annual payment basis, respectively.
** The monthly refund percentages are applicable to participants in the Group Variable Universal Life Insurance Plan (GVUL).
*** Percentages are reduced 12% if you have the optional Disability Waiver of Contribution benefit. The benefit is not available after age 59.
Group Insurance Plan
For Eligible Firms:
| Without Dependents Coverage | With Dependents Coverage |
| 50% | 45% |
A firm's refund is increased by $100.00 if the firm is participating in the Electronic Reporting Program.
Long Term Disability Income Plan
| Payment Basis | ||
| Waiting Period | Annual | Semi-Annual |
| Twenty-six Weeks | 36% | 34% |
| Thirteen Weeks | 20% | 18% |
| Payment Basis | |
| Annual | Semi-Annual |
| 4% | 2% |
The present definition of eligibility and treatment of a class of subscribers should not be construed as an indication of the basis for qualification for any future refund distribution.
The Participant acknowledges and agrees that in order to obtain the refund, if any, all refund checks must be presented for payment according to the terms and procedures set forth in this paragraph. Without limiting the foregoing, refund checks shall be deemed null and void if not duly presented for payment by, or on behalf of, the Participant or Former Participant by the expiration date (not to be less than six (6) months from the date of issuance) set forth on the face of the check. IF A PARTICIPANT FAILS TO TIMELY PRESENT FOR PAYMENT HIS OR HER REFUND CHECK ACCORDING TO THIS PROVISION AND HAS NOT, PRIOR TO THE EXPIRATION OF THE INITIAL REFUND CHECK, REQUESTED RE-ISSUANCE OF SUCH CHECK, THE FULL AMOUNT OF THE REFUND SHALL BE APPLIED TOWARD ANY OF THE PARTICIPANT'S PREMIUM PAYMENTS DUE; IF NO PREMIUM PAYMENTS ARE DUE OR OWING BY THE PARTICIPANT AT THE TIME THE REFUND CHECK EXPIRES, THE REFUND AMOUNT SHALL BE APPLIED TOWARD FUTURE PREMIUMS AS THEY BECOME DUE, UNTIL THE PARTICIPANT RECEIVES THE FULL REFUND AMOUNT EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT. UPON TERMINATION OF COVERAGE UNDER THIS PLAN, NOTHING HEREIN SHALL LIMIT A PARTICIPANT'S RIGHT TO RECEIVE A FULL REFUND OF ANY UNEARNED PREMIUMS OR UNAPPLIED PORTION OF EXPIRED REFUNDS.
For further information about the 2008 Refund, including net costs, please consult the 2008 Annual Report of the AICPA Life Insurance Disability Plans Committee you received with your Refund.
For GVUL, you should consider the contract and the underlying funds' investment objectives, risks, charges and expenses carefully before investing. Both the contract prospectus and fund prospectuses contain this and other important information. You may contact Aon Securities Corporation for the prospectuses. You should read them carefully before purchasing the coverage.
Coverage under the Group Life, Long Term Disability and Long Term Care Plans are issued by The Prudential Insurance Company of America, 751 Broad Street, Newark, NJ 07102. Contract series 31300 and 83500.
Group Variable Universal Life Insurance (contract series 89759) is issued by The Prudential Insurance Company of America, 751 Broad Street, Newark, NJ 07102 and is distributed by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, 14th Floor, Newark, NJ 07102. GVUL is administered and offered through Aon Securities Corporation, Member FINRA/SIPC, 159 East County Line Road, Hatboro, PA 19040-1218. 1-800-223-7473. The Plan Administrator/Plan Agent of the AICPA Insurance Trust is Aon Insurance Services. Aon Securities Corporation and Aon Insurance Services are not affiliated with either Prudential or PIMS.
| Insurer Issued Codes: | |
| California COA #1179 | NAIC #68241 |
| IFS-A136649 | Ed. 2/08 |
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