CPA Spouse Life Insurance
Additional Features
Evidence of Insurability
It is expected that most spouses will be accepted for coverage based on answers to health questions and without further medical evidence; in most cases, no medical examination is required. Members whose spouses are not so accepted, may, at their option, furnish additional medical evidence for their spouse.
Optional Accidental Death and Dismemberment (AD&D) Insurance
AD&D insurance is 24-hour, around-the-world accident coverage.
The full amount (equal to the amount of term life insurance) is payable for the covered loss of: life, both hands, both feet, sight in both eyes, one hand and one foot, one hand and sight in one eye, or one foot and sight in one eye. One-half the amount is payable for the covered loss of: one hand, one foot, or sight in one eye. The total payment for any accident will not be more than the full amount of the AD&D insurance. Proceeds for loss of life are payable to you as the CPA Life insured or Group Variable Universal Life Plan participant, unless you have named a beneficiary (ies). Proceeds for other losses are payable to your spouse, if living, otherwise, to you or a named beneficiary (ies). The AD&D insurance benefit is payable in addition to any other insurance, including any term life insurance benefit payable under the Spouse Life Insurance Plan and terminates when your spouse reaches age 75. The exclusions listed on this web site apply.
Beneficiary
As the member, you will be the beneficiary of your spouse's life insurance. However, if you choose, you may name someone else. If you name more than one beneficiary, proceeds may be divided into equal or unequal shares. The proceeds (amounts of $10,000 or more) are deposited into an interest-bearing account in the beneficiary's name. Each beneficiary may choose to withdraw all or part of the proceeds, or leave the funds in the account. Several modes of settlement options are also available by mutual agreement with Prudential.
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