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Plans > Plans for Me + My Family > Life Insurance > Level Premium Term Life Insurance

What is Level Premium Term?

LPT Life Insurance, issued by The Prudential Insurance Company of America (Prudential), is a Life Insurance Plan where premiums remain the same for the duration of the term.*

Standard term life policies often have rates that increase as you age, but LPT Plans don’t have that. Our rates stay the same throughout the 10- or 20-year term that you select, helping you to have a steady financial plan in place. And coverage is yours to keep as long as you remain a member.

Young male professional CPA Young male professional CPA

Why do CPAs need it?

You can choose a term, or length of coverage, depending on where you are in life. For example, if you have elementary school-age children, a 20-year term could last until college graduation. Similarly, a 10-year term could help you if you’re close to paying off your mortgage or looking for coverage until you reach retirement.

A lot can happen in 10 or 20 years. Why not have financial insurance protection against the unexpected?
106 million
American adults do not believe they have adequate life insurance coverage.1

LPT Features

Up to $2.5 million in coverage
Up to $2.5 million in coverage**

Coverage amounts are available at competitive, group-negotiated rates.

Up to $2.5 million in coverage Up to $2.5 million in coverage
Term Period of Your Choice
Term Period of Your Choice

Select a 10- or 20-year level term depending on your needs (Age 56-65 are only eligible for a 10-year term).

Term Period of Your Choice Term Period of Your Choice
Rates that stay the same
Rates that stay the same

Rates stay the same throughout the term that you select, allowing you to have protection for a set period of time.

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Rates that stay the same Rates that stay the same
Generally Income Tax-Free Benefits
Generally Income Tax-Free Benefits

Under current Federal Income Tax rules, the death benefit is generally free from income tax (IRC Section 101(a)).

Generally Income Tax-Free Benefits Generally Income Tax-Free Benefits

Coverage Options

Accelerated Death Benefit
Accelerated Death Benefit

No-cost option that allows participants who become terminally ill while covered to get a portion of their Life Insurance benefit in one lump sum. Your death benefit will be reduced by the amount you receive. Your coverage is extended at no cost after a nine-month waiting period from the date that you became disabled or when proof of disability is provided - whichever is later - and subsequent years with periodic proof of your continued total disability.

Accelerated Death Benefit Accelerated Death Benefit
Accidental Death and Dismemberment (AD&D) Coverage
Accidental Death and Dismemberment (AD&D) Coverage

Doubles your Life Insurance benefit amount if you die by accident; suffer the loss of both hands, both feet, sight in both eyes; suffer the loss of one hand and one foot, one hand and sight in one eye, or one foot and sight in one eye. You can receive a portion that does not exceed 75% of your Life Insurance amount or $1 million, whichever is less.

Accidental Death and Dismemberment (AD&D) Coverage Accidental Death and Dismemberment (AD&D) Coverage
Disability Waiver
Disability Waiver

Allows you to continue your coverage with no further contributions if you become totally disabled before age 60.

Disability Waiver Disability Waiver
Dependent Child Coverage
Dependent Child Coverage

For $6 a year, you can insure all of your eligible dependent children with $10,000 of Term Life Insurance.

Dependent Child Coverage Dependent Child Coverage

What it costs

With LPT, your rates won’t change because of age or health status during the term. You may be eligible to receive lower rates based on your health. 

Rates are affordable. For example, a 41-year old female with a 10-year term can get $500k in coverage for $21/month for a Preferred rate.2

Annual Cash Refunds may help lower your cost of insurance***

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Professional male CPA in an office environment Professional male CPA in an office environment

Why CPAs choose Level Premium Term?

  • Endorsed by the AICPA, with coverage you can rely on. 
  • Annual Cash Refunds that may help to further lower your cost of insurance.
  • 10- and 20-year term options to meet your stage in life.
  • Coverage you can keep as long as you remain a member, even if you change jobs or retire.
  • LPT can be stacked to supplement CPA Life or Group Variable Universal Life coverage.
  • Easy claims process to help your loved ones when they need it most.

Who is eligible for Level Premium Term?

AICPA members up to age 55 can request a 10- or 20-year level period. Those age 56–65 can request a 10-year level period. You are eligible to apply if you live in eligible states and territories.

After your LPT period ends, you may elect another term period or continue your current LPT coverage by paying annual premiums that increase each year, up to age 95.

About the Underwriter

The Prudential Insurance Company of America (Prudential) has been an insurance coverage provider to the AICPA and its members since 1947. Prudential is more than an insurance provider to the AICPA and its members.  We partner with the AICPA to understand its members’ needs and endeavor to ensure that its members and their families achieve financial wellness.  AICPA members’ needs are at the heart of everything we do. When the AICPA decided to partner with Prudential, they joined forces with a company that has helped customers weather wars, the Depression, pandemics, and many other challenging events over the past 150 years. Prudential is here to help you solve today’s challenges and support you in whatever lies ahead

About the Underwriter About the Underwriter
Frequently Asked Questions
Yes. Depending on your age and memberships, the total coverage amount under all Plans can be up to:
  • $2.5 million if you’re under age 55;
  • $2 million if you’re 55 to 64 years old;
  • $1.5 million if you’re 65 to 69;
  • and $750 thousand if you're 70 or older.
If you already have coverage under an exisiting LPT certificate, you can also apply for additional LPT coverage under a new/additional certificate for a combined coverage of up to $2.5 million.

After your LPT period ends, you may elect another term period or continue your current LPT coverage by paying annual premiums that increase each year, up to age 95. Your new term period would be under a new certificate. 
 
At the end of the level period you may apply for a new level period that ends at age 75.
 
Ages 55 and under may elect a 10 or 20 year term, and ages 56-65 may elect a 10 year term.

View rates for certificates issued on or after June 1, 2021.

You can reduce your coverage amount at any time and can apply for more coverage under another LPT certificate. Your total amount of LPT coverage, when combined with other AICPA Life Insurance Plans, cannot exceed the maximum coverage amount you are eligible for.

Make sure you take advantage of your options when you first apply. That’s the only time you’ll be able to choose them. Keep in mind, your Accidental Death & Dismemberment coverage will terminate at age 75.

Three different rate classes are offered: Standard, Select, and Preferred. Preferred offers the lowest rates to members in excellent health (based on the results of a brief medical exam). While we expect that many CPAs will be approved for Preferred, you may be offered Select or Standard rates based on your health status. You will get the best rate possible based on your insurability.

You can purchase Spouse LPT coverage even if you don't participate in any AICPA Plans.

Yes, a new application is required if you're requesting additional coverage. Your new/additional coverage would be issued under a new certificate. 

  1. You can keep your current coverage and also apply for a new certificate (with additional coverage) under the LPT Plan.
  2. Switch from your current LPT Plan to the enhanced LPT Plan by applying for a new certificate. You would be required to complete a capping and replacement form.
  3. You can stack your LPT coverage with GVUL, CPA Life, or another LPT Policy.

To apply for additional coverage or see if you qualify for a lower rate under a new certificate, you must complete an application and undergo the medical underwriting process. Log in to My Account to apply online or call 800.223.7473 and we will be happy to assist.  

†Certificates issued on or after June 1, 2021, may be eligible for a lower rate. 

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Disclaimer

IMPORTANT NOTICE - Please visit www.cpai.com/mib.

Please see the Exclusions and Provisions.

*Rates may change on a class-wide basis only.

**The maximum amount of coverage available is based on your age and you must be an AICPA member to apply.

***The AICPA Insurance Trust (Trust) reviews a number of factors in determining the amount, if any, of Annual Cash Refunds, such as premiums, claims, expenses, and other charges. These refunds vary year to year and are not guaranteed. The Trust has paid Annual Cash Refunds every year since each Life Insurance Plan’s inception. However, the Trust may suspend the distribution of Annual Cash Refunds at any time. These refunds could vary based on a number of factors, such as your rate class, payment mode, engagement in certain wellness programs, and the premium you pay. Please note, when premiums are lowered,refunds may decrease as well. However, the Trust may suspend the distribution of Annual Cash Refunds at any time. These refunds could vary based on the premium you pay, and when premiums are lowered, refunds may decrease as well. 

1LIMRA and Life Happens 2022 Insurance Barometer Study

2Gender based rates are not available in Montana; males rates apply.

Accelerated Benefit Option is a feature that is made available to group life insurance participants. It is not a health, nursing home, or long-term care insurance benefit and is not designed to eliminate the need for those types of insurance coverage. The death benefit is reduced by the amount of the accelerated death benefit paid. There is no administrative fee to accelerate benefits. Receipt of accelerated death benefits may affect eligibility for public assistance and may be taxable. The federal income tax treatment of payments made under this rider depends upon whether the insured is the recipient of the benefits and is considered “terminally ill”. You may wish to seek professional tax advice before exercising this option.

This site may contain marketing language, on products issued by The Prudential Insurance Company of America, that has not yet been approved in all states.

Not for use in New Mexico.

Not for residents in New Mexico.

This policy provides ACCIDENT insurance only. It does NOT provide basic hospital, basic medical, or major medical insurance as defined by the New York State Department of Financial Services.

IMPORTANT NOTICE - THIS POLICY DOES NOT PROVIDE COVERAGE FOR SICKNESS.

These materials are for informational or educational purposes. In providing these materials, Prudential (i) is not acting as your fiduciary as defined by the Department of Labor and is not giving advice in a fiduciary capacity and (ii) is not undertaking to provide impartial investment advice as Prudential will receive compensation for its services/products.

Aon Insurance Services is the brand name for the brokerage and program administration operations of Affinity Insurance Services, Inc., a licensed producer in all states TX 13695); (AR 100106022); in CA & MN, AIS Affinity Insurance Agency, Inc. (CA 0795465); in OK, AIS Affinity Insurance Services Inc.; in CA, Aon Affinity Insurance Services, Inc., (CA), Aon Direct Insurance Administrators and Berkely Insurance Agency and in NY, AIS Affinity Insurance Agency. 

Group Variable Universal Life coverages are issued by The Prudential Insurance Company of America and distributed through Prudential Investment Management Services LLC (“PIMS”). Both are Prudential Financial companies, Newark, NJ.

Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. The Booklet-Certificate contains all details, including any policy exclusions, limitations, and restrictions, which may apply. If there is a discrepancy between this document and the Booklet-Certificate/Group Contract issued by The Prudential Insurance Company of America, the Group Contract will govern. In Washington, the controlling document is the Certificate, not the Contract. Contract Series: 83500

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