The American Institute of Certified Public Accountants (AICPA) has partnered with Prudential to offer a Group Variable Universal Life (GVUL) insurance policy.
If you’re in the market for permanent life insurance or are simply curious about this type of policy, you need to read on.
We’ll discuss what GVUL is and how it works to decide if it’s the right choice for you. So without further ado, let’s get started!
AICPA, Group Variable Universal Life
The American Institute of Certified Public Accountants is a professional organization that provides educational resources, training, and advocacy for CPAs across the United States.
The AICPA also offers life insurance to accountants that are members of the organization.
AICPA Group Variable Universal Life is a plan offered by Prudential to active members of the American Institute of CPAs.
Variable universal life insurance policies are hybrid products that combine features of life insurance and investment vehicles, such as mutual funds.
VUL offers tax-deferred growth potential on contributions and a tax-free death benefit for your beneficiaries.
You can choose how the money in your policy is invested, which gives you control over the level of risk you assume and how much you can gain or lose.
AICPA, Group Variable Universal Life
AICPA, Group Variable Universal Life- Maximum of $2,500,000 of coverage
- Life insurance coverage to age 100
- Tax-deferred investment options and a fixed account
- The ability to make withdrawals and loans
- The three rate classes are standard, select, and preferred
- Premiums increase are on an age-bracketed 5-year basis
aicpa GVUL RIDERS
- Disability Waiver – This rider allows you to continue your coverage with no further contributions if you become disabled before age 60.
- Child Rider – You can ensure all of your children with $10,000 of term life insurance rider for a small additional cost.
- Terminal Illness Rider -For no additional cost, you have access to a portion of your death benefit if you become terminally.
- Accidental Death and Dismemberment – This rider will double your death benefit amount if you die by accident; or suffer the loss of hands or feet or sight.
Remember that universal life insurance can provide guaranteed premiums and cash value accumulation in the individual marketplace.
While this GUL policy operates like a five-year term policy connected with a forced savings plan.
So, AICPA Group variable universal life has age bracketed premiums and a cash value component within the policy.
This may be why new coverage under the GVUL Insurance Plan is currently not being sold at this time.
According to the AICPA website, they plan on introducing a new plan in the future.
In the meantime, accountants looking to buy permanent coverage should consider either indexed universal life or whole life insurance coverage.
Affordable Life USA can provide you with affordable coverage guaranteed that will last your entire lifetime.
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We work with a network of companies that provide high-quality services at affordable prices, including those rated BBB, J.D Power, and AM Best.
Top Universal Life Insurance Companies
| COMPANY | BBB | AM Best | JD Power |
| American General | A+ | A | 718 |
| Guardian Life | A+ | A++ | 760 |
| John Hancock | A+ | A+ | 739 |
| Lincoln Financial | A+ | A+ | 744 |
| Mass Mutual | A+ | A++ | 780 |
| Mutual of Omaha | A+ | A+ | 766 |
| Nationwide | A+ | A+ | 806 |
| Pacific Life | A+ | A+ | N/A |
| Principal Financial | A+ | A+ | 774 |
| Protective Life | A+ | A+ | 742 |
| Prudential | A | A+ | 770 |
Related AICPA Life Insurance Programs
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Affordable Life USA is dedicated to providing comprehensive life insurance solutions to families and business owners throughout the United States.
For over thirty years, our agency has provided a platform for comparing hundreds of life insurance policies without the stress of high-pressure sales tactics.
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Eric acquired his love for quantitative analysis while getting his business degree from Ferris State University, which provided a solid foundation for his analytical approach to financial planning.
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