Finding a life insurance company is a piece of cake. Finding the best life insurance company is where it can get challenging. If you are looking for a review about ACIPA Life Insurance Company then you have come to the right place! Whether you are an accountant looking for life insurance, a realtor looking for life insurance or you are simply someone who is looking for life insurance, you have come to the right place. Here at InsureChance, we provide the most unbiased life insurance reviews so that our clients can make their own educated decisions without having opinions shoved down their throats. Today we will be talking about ACIPA Life Insurance Company’s history, our review of them, and of course, we will be providing some highlights of their products. The following are some key points about AICPA Life Insurance Company from this article;
- AICPA has more than 412,000 members, they are a worldwide organization for chartered accountants. They sell life insurance policies in which are issued by Prudential.
- One of their greatest benefits is that they offer many options for businesses and individuals. They offer a wide variety of products such as long-term disability, long-term care, auto insurance, homeowners insurance, catastrophe medical insurance and of course they also offer life insurance.
- On their website, they offer Term life and Universal life which they offer as a group plan as well.
- Level Premium Term and Spouse Level Premium Term; This product is a term life insurance product and gives coverage for a short and specified period of time. This plan allows you to have your premiums locked in at a certain monthly cost without it increasing or decreasing throughout your entire term.
- We recommend an individual life insurance policy because most carriers of group life insurance only provide coverage until you leave your employer. Things happen and you can never see the future, your job is never guaranteed.
- If you have 30 seconds go to the bottom of this page and enter your information to get a quick quote from not just one company but different companies so that you can see yourself what your worth is.
What is the AICPA and what is a “CPA Life Insurance Plan”?
AICPA has more than 412,000 members, they are a worldwide organization for chartered accountants. They sell life insurance policies in which are issued by Prudential. Almost everyone can qualify and AICPA claims 90% of those who apply for CPA Life are approved. The downfall is that your rates will go up every 5 years but the good news is that it has a $2.5 million dollar coverage cap.
ACIPA Life Insurance Company Review 2017
ACIPA Life Insurance Company has been around for 65 years and is a worldwide organization for chartered accountants. One of their greatest benefits is that they offer many options for businesses and individuals. They offer a wide variety of products such as long-term disability, long-term care, auto insurance, homeowners insurance, catastrophe medical insurance and of course they also offer life insurance. On their website, they offer Term life and Universal life which they offer as a group plan as well.
Level Premium Term and Spouse Level Premium Term
- This product is a term life insurance product and gives coverage for a short and specified period of time.
- This plan allows you to have your premiums locked in at a certain monthly cost without it increasing or decreasing throughout your entire term.
- This plan is available for AICPA members and their spouses who are 65 and under.
- You can choose the term length you want for this policy; 10, 15, or 20-years.
- You are looking at face amounts up to $2.5 million.
- When your term expires, your policy ends.
- AICPA life insurance rates will remain fixed for the term length.
CPA Life and Spouse Life Plans
- All these plans that are offered are issued by Prudential.
- This plan is not only offered to AICPA members but also to State Society members or other eligible organizations.
- If you are eligible you can receive coverage up to 74 years of age and your coverage can last up until 74 years old.
- This plan is available for your spouse as well.
- You are looking at face amounts up to the maximum $2.5 million.
- AICPA life insurance rates will increase with age.
Group Variable Universal
- This plan is offered for those who want a group life insurance policy through their employer.
- You get a fixed account with no less than 4%.
- This plan offers cash build up.
- This cash build up or cash value is accessible through loans or borrowing against the policy.
- Every five years your premiums will increase.
- You are looking at face amounts up to $2.5 million.
- This policy lasts until you hit age 100.
- After you turn 75 through 80 your coverage will be reduced.
- AICPA life insurance rates will increase as you age.
- When you pay your premiums a percentage goes towards the base policy and the remainder will go into a cash accumulation account.
Why do I need life insurance?
We would like to take a moment to really discuss why you need life insurance in case you read these policies and realized, hey what’s the point anyway? Well, life insurance can provide peace of mind because you know that if something tragic were to happen to you, your family would be financially sound. Did you know that an average funeral can cost $10,000? This is a pretty hefty bill to leave behind to your loved ones. If you still have a mortgage or car payments or maybe even student loans, did you know once you pass away your family will be left to pay those bills? It sucks when you really think about it because it’s not fair but in all reality, dying doesn’t make the debt go away at all it just gets passed down to a family member.
Not only will life insurance pay those outstanding debts that you have but it will also replace your lost income. This is really one of the prime reasons people buy life insurance for, to replace their income. If you are the breadwinner we are speaking directly to you. Once you are gone how will your family be able to pay their bills? Life insurance gives them the financial security they need to cope once your pass away. Most people avoid the discussion of life insurance because they are afraid of dying that this is much more to it than that, leaving your family in good financial hands will really put you at ease.
Should I buy a group life insurance policy?
This is a question that gets asked by many people. Should I buy a group life insurance through my employer? It really comes down to preference but we will always recommend buying an individual life insurance policy. We recommend an individual life insurance policy because most carriers of group life insurance only provide coverage until you leave your employer. Things happen and you can never see the future, your job is never guaranteed. If you lose your job or are laid off, things can happen that is out of your control and the last thing you want to deal with if either of these options happen is to go back into the world looking for life insurance. Many life insurance companies rate by ages and as you grow older every day your life insurance rates will go up. So when you lose your job or get laid off you may be 10 years older and your options may be limited if you are 65 when this happens or even 55.
Is AICPA the way to go?
After reading the policies and what they have to offer you probably either love it or hate it. That’s what makes you human, having your own opinion. However, we always recommend to shop around for quotes. Just like you wouldn’t buy a car without shopping around to see if you get a better offer, you should do the same when it comes to buying life insurance. Life insurance can be difficult to understand sometimes and that’s why people are tempted to buy products from AICPA because it is so easy to buy through them. Just know that there are better options out there for you and life insurance is a very personal purchase that should be thought about for longer than 30 minutes. If you have 30 seconds go to the bottom of this page and enter your information to get a quick quote from not just one company but different companies so that you can see yourself what your worth is.
Why you should choose to work with an independent life insurance agency
We are well aware of the fact that everyone loves to DIY nowadays, but why DIY if you can utilize our free service to do it all for you? Not only will we be able to do all the comparing of quotes for you but we can also find which best life insurance company fits best for you. That’s because we know all the ins and outs of each life insurance company because each company has unique niches. Basically. some companies are more lenient towards some health conditions of lifestyles. For example, Prudential has a niche where they don’t charge their clients with smoker rates if they smoke e-cigarettes or a cigar here and there. This is unknown because most life insurance companies give smoker rates for these clients which can increase clients’ premiums by 60%.
We would love to provide a rating of this company but there isn’t one so we really have no clue on how financially stable they are. AICPA has been around for 65 years so we know they can be considered a little financially stable but we can’t tell the future. A company rating is super important to know when choosing a life insurance company because it will tell you how financially stable they are or aren’t. You as a consumer deserve to get the best rate and quote possible, so we always recommend to compare quotes or shop around for quotes. If you are curious about what you could be offered take 30 seconds and put in your info in our quoter below and watch as the quoter compares all sorts of highly rated companies. Or you can simply use our free service and give us a call and let us do all the shopping around and comparing for you. It can take some time comparing company reviews so let us do all the shopping for you. Here at InsureChance, we work with over 60 top rated companies and this gives us a better selection to be able to find you the best life insurance company. Let us do all the hard work so that you can spend the time to those who matter the most in your life, your family!