Spouse Life Insurance
Frequently Asked Questions
- Who is
eligible for coverage?
- How much
coverage can I request?
- Is cost
based upon the spouse's age?
- What is Preferred Status?
- What is
Select Status?
- Is the Spouse
Life Insurance coverage also eligible for annual refunds?
- Can I
maintain the Spouse coverage if I cancel my AICPA and State Society
memberships?
- Is there an
automatic reduction in Spouse Coverage?
- Can I maintain the Spouse coverage once I reach age 80 and my AICPA Life Insurance Plan is terminated?
- Can the
Spouse Life Insurance coverage be assigned?
- Is a medical
examination required to receive the coverage?
Q. Who is eligible for coverage?
A. Your Spouse is eligible if he/she is: |
Under the age of 75 |
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Legally married to a member of the AICPA and/or a State Society of CPAs (or other qualifying organization) |
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Living in the United States or eligible territory at the time coverage begins |
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Not eligible for coverage under the CPA Life or Group Variable Universal Life Plan. |
Q. How much coverage can I request?
A. The amount of Spouse coverage cannot exceed the amount you are
eligible for under the CPA Life or GVUL insurance plans or the amount
available for your spouse's age. Click here for more information.
Q. Is cost based upon the spouse's age?
A. Yes: View rates.
Q. What is Preferred Status?
A. Preferred Status offers the lowest gross rates and net costs for participants age 50-79 who submit satisfactory evidence of good health. If approved, you'll maintain your Preferred Status for 20 years, or until you spouse turns age 80. Only upon expiration of the 20-year period will your spouse need to resubmit evidence of satisfactory health to Prudential to re-qualify for Preferred. Click here to view Preferred Rates.
Q. What is Select Status?
A. Select Status offers rates that are 25-50% lower than standard rates for participants age 45-79 who submit evidence of good health on the request form-in most cases a medical exam isn't needed. If approved, you'll maintain your Select Status for 15 years, or until your spouse turns age 80. Only upon expiration of the 15-year period will your spouse need to resubmit evidence of satisfactory health to Prudential to re-qualify for Select Status rates. Click here to see Select Status rates.
Q. Is the Spouse Life Insurance coverage also
eligible for annual refunds?
A. Yes, however, refunds are never guaranteed. Click here for information on Cash Refunds.
Q. Can I maintain the Spouse coverage if I
cancel my AICPA and State Society memberships?
A. No, coverage will terminate if you, the CPA, are no longer a member of either the AICPA, a State Society of CPAs, or other qualified organization. However, there is an option to convert the coverage to an individual insurance policy. More information can be found on the Exclusions and Notices page.
Q. Is there an automatic reduction in Spouse
Coverage?
A. Yes, on the October 1 on or after your spouse's attainment of age
75, the Spouse term life coverage will reduce to an amount equal to the
lesser of 50% of the previous in force amount or $500,000.
Q. Can I maintain the Spouse coverage once I reach age 80 and my AICPA Life Insurance Plan is terminated?
A. Yes, once your coverage is terminated, the Spouse coverage may remain
in force until the spouse reaches age 80.
Q. Can the Spouse Life Insurance coverage be
assigned?
A. Yes, Complete an Assignment Form.
Q. Is a medical examination required to receive
the coverage?
A. It is expected that most members who apply for Standard and Select Status rates will be accepted for coverage on the
basis of their spouse's answers to health questions and without further medical
evidence. A full medical exam is required for Preferred Rates.
Note: These frequently asked questions are for illustrative purposes only and are not a contract. It is intended to provide a general overview of the certificate described. Please remember that only the insurance certificate can give actual terms, coverages, amounts, conditions and exclusions.
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