Regardless of the profession that you work in, being covered with the right types and amount of insurance protection is essential. In some cases, large employers will offer a group insurance benefits plan, which includes life, health, long-term care, and other forms of coverage to its employees.
However, if you work in an industry like accounting, you may be either a solo practitioner or are employed in a small company where you are responsible for securing your insurance coverage. Either way, if you require insurance – or you are in need of additional protection – you may be able to secure it via the AICPA.
About the AICPA
The American Institute of CPAs also referred to as the AICPA, is a nationwide organization that represents the Certified Public Accountant (CPA) profession. This entity, established back in 1887, sets standards, creates various rules, and serves as an advocate before public interest groups, legislative bodies, and other professional organizations.
The mission of the AICPA is, “Powering the success of global business, CPAs, CGMAs, and specialty credentials by providing the most relevant knowledge, resources, and advocacy, and protecting the evolving public interest.” In order to achieve their mission, this entity engages in some key activities. Just some of what the AICPA does includes:
- Developing standards for the audit of private companies and other services that are performed by Certified Public Accountants
- Providing educational guidance materials to its members
- Developing and grading the Uniform CPA Examination
- Monitoring and enforcing compliance with the CPA profession’s ethical and technical standards.
In addition, the AICPA also offers a member insurance program for those who are a part of this organization and who want or need to obtain personal and / or business insurance solutions.
Insurance Programs Through the AICPA
The AICPA offers a wide variety of insurance coverage that may be secured to protect on a personal, as well as a business level. On the personal insurance product side, the following types of coverage may be purchased:
- Life Insurance – There are several options that are available to those in need of life insurance for accountants. These include a level premium term, and a spouse level premium term – which offers up to $2.5 million of life insurance to an employee and his or her spouse for either a ten or a twenty-year time period. There is also a group variable universal life insurance option. This, too, offers up to $2.5 million in insurance coverage, with an optional investment component.
- Long Term Disability – If an accident or a serious illness were to keep you from working, this plan can offer an ongoing income so that living expenses may continue to be paid. This plan offers up to 65% of your monthly earnings – up to $12,000 per month.
- Personal Liability Umbrella – The Personal Liability Umbrella offers protection against personal liability incidents that fall beyond the limits of the coverage that you have with your homeowner’s and auto policy.
- Medicare Supplement – Because Medicare Part A and Part B come with a number of out-of-pocket costs, such as deductibles, copayments, and coinsurance, a Medicare Supplement insurance plan can help you to cover these expenses.
- Long Term Care – While there are no new long-term care plans being offered at this time, if you purchased an endorsed long-term care policy in the past, the coverage will still be honored.
- Auto and Homeowners – As an AICPA member, you can also have access to exclusive savings and personalized service – as well as quality coverage in the area of homeowners and auto. Just some of these benefits can include accident forgiveness, better car replacement, and home protector plus.
- Catastrophe Major Medical – Today, catastrophe major medical plans are also no longer available to new insureds. However, if you purchased a plan via the endorsed AON coverage in the past, the policy will still be honored.
You may also be in need of business insurance coverage. There are many areas of potential risk when you’re running a business. So, having good, solid business insurance protection can allow you the peace of mind that you need for moving on. The business insurance products that are offered through the AICPA insurance program include the following:
- Professional Liability
- Employment Practices Liability
- Commercial Property and Liability
- Business Overhead Expense
- Specialty Coverage
- Group Insurance for Firms
- Group Personal Excess Liability
Other Benefits of Being in the AICPA Insurance Programs
As a member of the AICPA, you will also have access to the entity’s policyholder resource center. Here you can find 24 / seven access to valuable information – at no additional charge – including claims information by area of practice, assistance with the filing of a claim, and the ability to renew your CPA Value Plan.
You will also have access to informative articles, advice, and checklists that can help you to better understand the insurance options that are offered, and which ones may be of benefit to you, your loved ones, and / or your business.
How to Find the Best Insurance Rates Online
While it can be helpful, as well as cost effective, to obtain your insurance coverage via a professional organization, it can also be quite beneficial to compare various coverage in order to determine whether or not you can find a plan that more easily fits your needs – and your budget.
If you are currently in the market for insurance, we can help. We work with many of the top rated insurance carriers in the marketplace today, and we can assist you in obtaining all of the details that you require for making a well-informed insurance buying decision. If you are ready to move forward, just simply fill out the form on this page.
Should you have any additional questions, please feel free to contact us directly. We can be reached via phone, toll-free, by calling 864-332-4209. We can work with you in ensuring that you have the best possible coverage for your needs. So, contact us today – we’re here to help.