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Group Life and Disability for 25+ Employees

AICPA-endorsed Group Elite Life and Long Term Disability Plans have been specifically designed to provide meaningful coverage options at competitive rates for larger firms.
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800.223.7473

Group Life and Disability for 25+ Employees

AICPA-endorsed Group Elite Life and Long Term Disability Plans have been specifically designed to provide meaningful coverage options at competitive rates for larger firms.
Contact Us
800.223.7473

What is Group Elite Insurance?

AICPA-endorsed Group Elite Insurance, issued by The Prudential Insurance Company of America (Prudential), is designed exclusively for CPA firms with 25 or more employees, and includes both Life and Long Term Disability Insurance. Group Elite has flexible options and competitive pricing. Your employees will have comprehensive benefits without needing to undergo medical underwriting. 
Professional female CPA meeting with her client Professional female CPA meeting with her client

Why do CPA Firms need it?

Your firm’s benefit package, that includes Life and Long Term Disability Insurance coverage, is likely one of the top offers prospective CPAs evaluate when joining a firm.

 

By offering financial wellness benefits such as Life Insurance to your employees, you can attract, retain and engage the best workers. You are also helping to give them peace of mind that they have a plan in place for their loved ones when the unthinkable happens. Benefits can help replace income or pay off debts in the event of their death.
 

of members surveyed recommend the AICPA CPA Life Plan

There are 102 million uninsured and underinsured Americans who know they need
(or need more) life insurance coverage.

 
LIMRA, Facts About Life, 2021

What it covers

Group Elite Life Plan

  • Term Life Insurance coverage up to $1M depending on the firm’s size

  • Optional benefits such as:

              - Accidental Death and Dismemberment (AD&D) coverage
              - Waiver of Premium for those totally disabled prior to age 60
              - Dependent Life Insurance

  • Includes Accelerated Benefit Option

  • Choice of immediate eligibility or six month waiting period for new employees
     

Group Elite Long Term Disability

  •    Up to $15,000 of monthly disability benefits depending on the Plan your firm chooses

  •    If disability begins under age 61, your maximum payment period is to your normal Social Security retirement age, but not less than 60 months. If disabled at ages 61 through 64 payments continue to retirement, but not less than 48, 42, 36 or 30 months respectively. If your disability begins at ages 65 or over, benefits will continue for 24, 21, 18, 15 or 12 months respectively.

  •    Partial Disability

  •    Choice to cover owners and employees, or employees only

  •    Choose between two definitions of disability

  •    Elect whether contributions are deducted pre-tax or after tax and whether benefits are taxable or non-taxable

  •    Select when benefits begin, after a 13 week elimination period or a 26 week elimination period

  •    Choice of immediate eligibility or six month waiting period for new employees

 

What it costs

Group Elite Plan’s may be purchased separately or together.

The Group Elite Life Plan’s cost is based on the maximum coverage and options you choose, employee salaries and their ages.

Group Elite Long Term Disability Plan is customizable for your firm. The amount of monthly benefits available depends on the definition of disability selected.

We will work with you to choose the Plan options that best meet your firm’s needs and budget.
 

Professional female CPA reviewing client documents Professional female CPA reviewing client documents
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Why CPA Firms choose Group Elite Insurance

Group Elite Life and Disability Plans offer coverage without undergoing medical underwriting and a quick, easy application process.  The Plans offer:
  • Competitive pricing 
  • Optional benefits to address your needs
  • Transferrable coverage between participating firms 
  • Option for retired partners to continue coverage1
  • Coverage that is convertible if reduced or terminated
  • Streamlined Account Management Portal (AMP) to easily manage employee additions or terminations 

Who is eligible for AICPA-endorsed Group Elite Insurance?

Firms with 25 or more employees, including proprietors, partners or firm members, and full-time employees are eligible for coverage. Full-time means individuals working in the firm for a minimum of 20 hours per week and not less than five months in a calendar year.

The firm must be actively practicing public accounting or AICPA member(s) must retain at least 50% ownership of the firm if it is not in public accounting. The proprietor or at least one partner or firm member must be an AICPA member.

Your firm’s principal is in any state of the United States (except Texas) and the District of Columbia.

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 145 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

If you would like to enroll your firm in the Elite Life and Disability Plans, please call 1-800-223-7473 to speak with one of our Advisors who can provide quotes and options to meet your firm's life and disability coverage needs.

You are eligible to enroll in Group Life Insurance for small firms. It’s easy to get a quote and enroll online.

You can select the option to make coverage available to the eligible individuals on an immediate basis (starting date) or after completing six months of continuous service. The option for waiting periods for new firm personnel is elected when the firm sets up the Plan.
 

Eligible dependents typically include the spouse and children of individuals who are insured under the Plan. Included are legally adopted children and stepchildren who are dependent on insured members for support and maintenance, provided in the case of the stepchildren, that a biological parent has given written consent for the coverage. Children must be unmarried and less than age 25. The spouse may not be on active duty in the armed forces. Firm personnel covered under the Plan cannot also be covered as dependents.

Continued Coverage for an Incapacitated Child: This applies to the Dependent Coverage you have for a child. The insurance for the child will not end on the date/the age limit in the definition of Qualified Dependent is reached if both of the following conditions are true: (1) The child is then mentally or physically incapable of earning a living. Prudential must receive proof of this within 31 days; (2) The child otherwise meets the definition of Qualified Dependent. If these conditions are met, the age limit will not cause the child to stop being a Qualified Dependent under that Coverage. This will apply as long as the child remains so incapacitated.


 

If the Firm has elected the Waiver of Premium option and if an individual covered under the Elite Life Plan becomes totally disabled before the age of 60, the individual's Life Insurance will be extended and premiums waived while that individual remains totally disabled. As long as the disability remains, and proof of disability is furnished from time to time, the death benefit protection will be extended and premiums waived from year to year. (This extension will not apply to the Dependent Life Insurance Coverage.)

Total Disability: You are "Totally Disabled" when: (1) You lose sight in both eyes. The loss must be total and permanent; or (2) You lose both hands, both feet, or one hand and one foot. Loss of hand or foot means loss by severance at or above the wrist or ankle; or (3) Due to Sickness, Injury or both, you are wholly unable to perform for wage or profit, the material and substantial duties of any occupation.

Coverage will not terminate due to age as long as a covered individual is actively engaged in work full-time with the contributing employer. Retired partners can also continue coverage with no age limit as long as they are receiving any sort of monetary compensation from the firm.  However, coverage will reduce depending on age as follows: at age 65 (25% of the amount of insurance in force prior to the first age reduction), at age 70 (50%), at age 75 (65%), and at age 80 (75%), including any change in coverage amount due to a change in earnings or status. The insurance for an individual will automatically terminate when he or she is no longer a covered individual or actively engaged in work full-time with the contributing employer, the firm ceases to be a contributing employer, or the group policy terminates.
 
Regular Occupation is defined as the inability of an insured owner or employee to work at the occupation they were performing at the time of the disability. For a lesser premium, the firm has the option of selecting the Regular Occupation definition of disability for the first two years of disability and then a Gainful Occupation definition thereafter. Gainful Occupation is defined as the inability to work at any occupation for which the insured is reasonably fitted by education, training or experience and you are under the regular care of a doctor.2

2Gainful occupation means an occupation, including self-employment, that is or can be expected to provide you with an income within 12 months of your return to work, that exceeds: 
60% of your indexed monthly earnings, if you are working 
60% of your monthly earnings, if you are not working 

Resources that might help you

Disclaimer

Please see the Exclusions and Provisions.

Please see the Group Life and Disability Income Medical Underwriting NOTICE.
 

1 As long as they are receiving any sort of monetary compensation from the firm. Coverage is based on the Salary Multiplier as elected by the firm, rounded up to the nearest thousand and subject to the schedule maximum and age-related reductions if applicable. Annual earnings do not include bonus or overtime, or compensation from any other employer.  Coverage amount and age as shown on the individual's request for coverage will be used.

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 of New Mexico.

This policy provides disability income 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.

North Carolina Residents: THIS IS NOT A MEDICARE SUPPLEMENT PLAN. If you are eligible for Medicare, review the Guide to Health Insurance for People with Medicare, which is available from the company.

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 0G94493), Aon Direct Insurance Administrators and Berkely Insurance Agency and in NY, AIS Affinity Insurance Agency.

Group Insurance coverage is 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. Contract Series: 83500. CA COA# 1179, NAIC #68241.

1043619-00002-00

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