Our CEO, David Filewich, writes about his time as a CPA candidate and his motivation behind the CPA Candidate Program.
CPA candidates: You’re not alone.
I learned this when I first failed the CFE exam. Both the CPA PEP Program and CFE challenged me just as it challenges thousands of students each year. There’s a sense of pride in doing it on your own, but the truth is, you can’t. I quickly realized that my experience wasn’t unique.
CPAs are some of the most respected professionals in the world. We hold a universally beneficial designation. We can work in any industry, in any job capacity, yet sometimes, we forget we’re human. We forget that there’s a person behind the designation.
Failing was a crushing, isolating feeling. I didn’t understand the support I needed at the time, and looking back, I wouldn’t have made it through the program without accepting help—no matter how big or small—from family, friends, colleagues, and mentors.
My candidate experience drives much of what I do at CPA Insurance Plans West. It has motivated me to do something to pay it forward. With our newly launched CPA Candidate Program, we’re taking a small step in that direction.
I want to make life a little bit easier for candidates. And I want to remind them that they’re not alone.
Creating the CPA Candidate Program
Let’s face it: As CPA candidates, we’re not thinking about getting Term Life Insurance when they’re buried under books, modules, and day jobs.
That’s why we created the CPA Candidate Program. It offers quick and easy protection with $50,000 in free Term Life Insurance at no cost. While most candidates are early in their careers and focused on completing their studies, this coverage provides a financial safety net during a time of rapid personal and professional growth—when savings may be limited and every dollar counts. It enables candidates to stay focused on their education and career goals while knowing their loved ones have an added layer of protection.
I want to make life a little bit easier for candidates. And I want to remind them that they’re not alone.
Other perks included in the CPA Candidate Program include:
- The ability to purchase additional Term Life Insurance coverage and receive 50% off premiums for the first year using Promo Code CANDIDATE50.
- Exclusive rates on Home and Auto Insurance through our partner, The Personal.
- Provincial scholarships, designed for those working towards their designation while also supporting a family.
Apply for the CPA Candidate Program!
Life Insurance Tips for Candidates
There’s not a ton of insurance education out there, and to a candidate, any available information is … boring.
Here’s what I learned about Term Life Insurance as a CPA candidate:
- I fell into the camp where I thought my employer-provided life insurance was sufficient. Spoiler: It wasn’t. An easy way to understand how much coverage you should have is to take our online Needs Assessment.
- After realizing my employer-provided life insurance wasn’t enough, I looked to top it up. The CPA Candidate Program provides additional coverage on top of any existing coverage you might have.
- Mortgage life insurance is only in effect for the term of your mortgage, and the benefits are only paid out to the lender. In addition, the payout value diminishes as the mortgage is paid down.
- Purchase as much life insurance as you can while you’re young. Take advantage of medical underwriting when you’re healthy!
Paying it Forward
I’m grateful for the colleagues, employers and other CPAs who guided me through my candidacy. Today, the CPA Candidate Program is an opportunity for us to provide that same sense of community to the next generation of CPAs.
Although failing the CFE is a memory I’ll never forget, it comes second to the memories I have of passing it the following year. I remember my dad, who is also a CPA, telling me he failed the first time around. I remember leaning on him and other CPAs for advice. I remember seeking out friends with whom I could share a laugh. I remember commiserating with other candidates in the program.
I didn’t fall asleep until 3am the day the results were posted. When they hit my inbox, I was so nervous I had to use a ruler to make sure I was looking at the correct line. I double checked. Triple checked. The result at the end of that ruler? “Competency Achieved.”
You bet I didn’t celebrate that achievement alone.
Are you a CPA Candidate or plan on retaking the CFE? We’re here to help. Apply for our CPA Candidate Program!
Passed the CFE? Congratulations! Apply for our New Grad Program.