AICPA Life Insurance Review

Life insurance exclusively for CPAs who belong to the AICPA member organization

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AICPA Insurance

AICPA Insurance

Our Take

AICPA Life Insurance is a decent option for CPAs who belong to the AICPA organization, but it’s not the best provider on the market. We would only recommend this company to individuals who need basic life insurance coverage for themselves or their spouse, or to those who are looking for a no-exam policy.

  • Pros and Cons
  • Key Takeaways
  • Company Overview
Pros and Cons
  • Good variety of riders

  • Several no-exam policies

  • Easy to apply online

  • Only available to AICPA members

  • Limited policy types

  • Basic customer support

Key Takeaways
  • AICPA life insurance is available exclusively for accountants who are AICPA members.
  • The company offers a variety of riders for customization.
  • It’s easy to apply online, and some policies don’t require an in-person medical exam.
  • The company pays dividends through its Annual Cash Refund program.
Company Overview

In order to purchase AICPA life insurance, you must be a member of the American Institute of CPAs (AICPA), the largest member association for accounting professionals. AICPA began selling insurance policies to its members in 1947. Currently, AICPA offers 18 professional and personal insurance plans including five life insurance plans, with more than 480,000 policies and certificates in force.

AICPA life insurance policies are underwritten by Prudential, the fourth-largest life insurance provider, with 5.8% of the market share. You can apply for coverage through the AICPA member insurance programs website, but you’ll need to have a valid AICPA member number. Coverage is available in all 50 states and Washington, D.C.

  • Year Founded 1947
  • Kinds of Plans Term, whole life
  • Number of Plans 5
  • Payment Plan Options Monthly, annually
  • Customer Service Phone: (800) 223-7473; Online form
  • Official Website

AICPA is not one of our top-rated life insurance companies. You can review our list of the best 

life insurance companies for what we think are better options.

Pros Explained

  • Good variety of riders: You can customize an AICPA life insurance policy by adding riders and optional policies to fill gaps in coverage.
  • Several no-exam policies: AICPA offers guaranteed issue and simplified issue life insurance that does not require a medical exam in order to get approved.
  • Easy to apply online: You can submit a life insurance application on AICPA’s website, which takes about 20 minutes to complete.

Cons Explained

  • Only available to AICPA members: To buy life insurance through AICPA, you must be an active AICPA member with a valid member number or a member of your state’s professional CPA society. 
  • Limited policy types: Currently, AICPA only sells term and whole life insurance for individuals and their spouses.
  • Basic customer support: The only ways to get in touch with an AICPA representative are by calling during business hours or by filling out the online form. 

Available Plans

There are five plans available through AICPA, with term and whole life options. The organization once offered a group variable universal life insurance policy, but it’s no longer selling new plans. All of AICPA’s life insurance policies are underwritten by Prudential, which has been fulfilling customers' insurance needs since 1875. 

Depending on the type of policy you have, you might be eligible to participate in the AICPA Annual Cash Refund, which is the organization’s take on dividends. At the end of each year, you have the opportunity to receive money back based on your age and your premiums paid. In 2021, the AICPA Annual Cash Refund distributed $105 million to over 160,000 members.

CPA Life Express

The CPA Life Express policy is a guaranteed issue whole life policy that is available for AICPA members between the ages of 18 and 39, with up to $1 million in coverage, which is available until age 80. You can also get coverage if you belong to your state’s CPA society, but the maximum coverage limit is $500,000. The CPA Life Express application doesn’t contain any health questions, and there is no medical exam required. However, you must actively work for at least 17.5 hours per week in order to qualify for this policy. We should also mention that this policy does not have cash value, despite being a whole life plan.

CPA Life 

AICPA’s CPA Life policy is a simplified issue whole life policy that is available for AICPA members between the ages of 18 and 74. Depending on your age, you can get up to $2.5 million coverage, which is available until age 80. Approval is based on your answers to some basic health questions on the application, and most people don’t have to take a traditional medical exam. According to AICPA, expect it to take about 20 minutes to complete the entire online application from start to finish. Like the CPA Life Express plan, this policy doesn’t have a cash value component.

Simplified issue life insurance is a good option for people who want to forgo a comprehensive medical exam, but the premiums tend to be more expensive than policies that require an exam.

Spouse Life 

With AICPA’s Spouse Life policy, you can ensure that your spouse, partner, and children have adequate coverage. Your spouse can get as much as $2.5 million in coverage, and they can apply until age 75. It’s whole life coverage that is guaranteed up until age 80, as long as you maintain your AICPA membership. However, the Spouse Life policy has step rates, which means the premium will increase in five-year age bands after age 30. There is no medical exam required, only some basic health questions on the application.

Level Premium Term Life

The Level Premium Term Life policy offers coverage over a certain number of years. It offers up to $2.5 million in coverage with level premiums over the term. AICPA members who are 55 or younger can get a 10- or 20-year term, but members between the ages of 56 and 65 can only choose a 10-year term period. Once the term ends, you can purchase another term life policy, or you can extend your existing policy by paying annual premiums until age 95.

Spouse Level Premium Term Life

The AICPA Spouse Level Premium Term Life policy is the company’s term life plan for spouses and children specifically. It has the exact same term lengths, coverage limits, and age requirements as the traditional Level Premium Term Life Policy for AICPA members. The only difference is that the amount of coverage your spouse or partner is eligible for cannot exceed the amount of coverage that you are eligible for as an AICPA member.

Available Riders

Life insurance riders are optional policies that provide additional coverage for specific situations that your standard policy does not cover. AICPA offers a handful of riders that allow you to customize a policy based on your family’s unique needs.

Accidental Death and Dismemberment Rider

The accidental death and dismemberment (AD&D) rider will double your death benefit if your death is accidental or if you become disabled, blind, or paralyzed. 

Accelerated Death Benefit Rider

The accelerated death benefit rider allows you to use money from your death benefit to pay for end-of-life expenses if you get diagnosed with a qualifying terminal illness. This rider will pay 75% of your death benefit, or $1 million, whichever is less.

While some life insurance riders allow you to use funds from your death benefit while you’re still living, it can lower the amount of money your beneficiaries will receive when you pass away.

Dependent Child Rider

With the dependent child rider, you can purchase up to $10,000 in term life insurance coverage for your dependent children, assuming they meet certain eligibility requirements. This optional coverage can be added to your life insurance plan for $6 per year.

Waiver of Disability Rider

If you become completely disabled before age 60, the waiver of disability rider will allow you to keep your life insurance coverage without paying the premiums. To use this rider, you must wait nine months from the date you became disabled, or until you are able to provide proof of the disability, whichever is later.

Customer Service

AICPA has average customer service. To get in touch with the company, you can call (800) 223-7473 Monday through Friday from 8:30 a.m. to 6 p.m. EST. You can also get in touch via email by submitting the online form.

Complaint Index

The National Association of Insurance Commissioners (NAIC) Company Complaint Index scores licensed insurance companies based on customer feedback weighed against market share. It accounts for things like claim settlements, policy premiums, customer service, and policy cancellation issues.

Because AICPA is not a licensed insurance company, it’s not rated in the NAIC Company Complaint Index. But Prudential, the insurance company that underwrites AICPA policies, is rated. 

As of 2021, Prudential has an average number of complaints based on its size and compared to its industry peers.

Third-Party Ratings

Because AICPA doesn’t have many third-party ratings, we’ll consider Prudential’s ratings for this section. Prudential has an A+ financial strength rating from AM Best, which indicates that the company has enough money to repay policyholders after a claim and is unlikely to file for bankruptcy. 

The company is also rated in J.D. Power’s 2021 U.S. Life Insurance Study, which looks at overall customer satisfaction. Prudential is rated slightly below average, with a score of 753 out of 1,000. For reference, the industry average score is 776 out of 1,000.

Cancellation Policy

You can cancel an AICPA life insurance policy at any time, without paying any fees. You can either formally cancel with an agent or you can simply stop paying the premiums. Because none of AICPA’s life insurance policies build cash value, you won’t receive any funds back once your coverage ends. 


Everyone pays a different life insurance premium. Insurance companies look at individualized factors such as age, overall health, smoking history, and the amount of coverage required when they calculate your rate.

You can get a personalized rate quote from AICPA online, but the company also provides some sample rates. For the CPA Life policy, a 32-year-old male would pay $26 per month for $1 million in coverage. For the Spouse Term Life policy, a 41-year-old female would pay $21 per month for $500,000 in coverage over a 10-year term.

Another factor that affects life insurance rates is your gender assigned at birth. Non-binary individuals can still get life insurance, but on the AICPA life insurance application, you will be asked to mark “male” or “female” as your gender. If you identify as transgender or non-binary, we suggest reaching out to AICPA to learn about their specific underwriting processes.


If you’re shopping for life insurance, one of the best companies on the market is Mutual of Omaha. Like AICPA, Mutual of Omaha offers several no-exam policies, but overall, it’s a much better provider than AICPA.

Mutual of Omaha has a great customer satisfaction rating from J.D. Power, with a score of 795 out of 1,000. It’s ranked fifth on the list of 23 providers. Mutual of Omaha also offers 11 life insurance policies, whereas AICPA only offers five. Additionally, Mutual of Omaha offers many more riders than AICPA—nearly a dozen.

  AICPA Life Insurance Mutual of Omaha
Market Share N/A 17th-largest in the U.S., 1.54% of market share
Number of Plans  11
Dividends for 2020  $105 million  Not offered
Wellness Program Discounts/Quit Smoking Incentives  Not applicable Not applicable
Service Method  Agents Agents
AM Best Rating  A+ A+
Price Rank  About Average About Average
Complaint Index  0.85 (below average) 1.20 (above average)
Final Verdict

If you or your spouse are AICPA members and you’re looking for basic life insurance coverage, AICPA is not a bad option. The company offers a good list of riders, you can easily apply for coverage online, and the company has a good history of paying annual cash back, similar to dividends. However, keep in mind that none of AICPA’s life insurance policies builds cash value, and if you want a traditional whole life or universal life policy, you’ll need to look elsewhere.


Our reviews of life insurance companies are based on a quantitative methodology that analyzes each insurer on their stability and reliability, customer service, claims experience, diversity of product lines, and cost. We compare the terms of each type of policy offered—including available coverage amounts, optional riders, and premium payment options—with those of other major life insurance companies. Lastly, we look at how the company is rated by third-party organizations to determine its reliability and overall reputation.

Article Sources
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  1. NAIC. "Prudential Ins Co Of Amer National Complaint Index Report."

  2. J.D. Power. "Life Insurance Customer Satisfaction Survey."