AICPA Group Variable Universal Life is another plan offered by Prudential to active members to members of American Institute of CPA’s. (AICPA) . Group variable universal life has age bracketed premiums, along with a cash value component within the policy. The policies cash values can be invested in a variety of funds which can be evaluated by reading over the prospectus available on AICPA website.
AICPA, Group Variable Universal Life
- Maximum of $2,500,000 of coverage
- Coverage to age 100
- Premiums increase are on age-bracketed 5 year basis
- Life insurance coverage to age 100.
- Tax-deferred investment options, and a fixed account
- The ability to make withdrawals and loans
Keep in mind, that universal life insurance policies sold in the individual marketplace can provide a lifetime level guaranteed premium as well cash value accumulation. While, the group variable life policy acts much like a five year term policy coupled with a forced savings element. If you are considering this policy, please read the prospectus to determine the overall cost of ownership during your lifetime.
Universal life, variable universal life, or whole life should be used if you are looking for lifetime coverage, as well as cash value accumulation. Since, the premiums with open market companies can be guaranteed to last for a lifetime, a cost comparison should also be conducted to determine which plan better suites your needs.
Our firm has provided many accountants planning ideas and comparisons related to life insurance coverage. Here is a complete breakdown of all of plans, and the AIPCA Life Insurance rates by age currently provided to members of American Institute of CPA’s.
If you would like to perform a cost comparison with Group Variable Universal life to individual coverage which is guaranteed to last for a lifetime, use Universal Life Insurance Quotes.
Please select the coverage to age 90, 100, or 120 on the life insurance premium calculator. Please call our office at 1-877-249-1358, for a customized illustration actually showing the cash value accumulation.