CPAIPW Term Life Insurance is designed to protect CPAs during times of financial dependency, such as going to school, marriage, mortgages, raising a family, taking care of aging parents, or considering entrepreneurship.
Our Term Life Insurance is unique to the needs of CPAs, setting it apart from other industry offerings.
At CPA Insurance Plans West, we provide Term Life Insurance as part of a larger group plan, making it much more affordable and flexible than purchasing coverage separately. There are two main reasons for this:
- CPAs form a low-risk demographic group, which keeps rates down; and
- The more individuals contributing to the plan, the more coverage you get at a lower rate.
Our Term Life coverage isn’t meant to be an investment. It’s designed to protect during times of financial dependency, such as going to school, marriage, mortgages, raising a family, taking care of aging parents, or considering entrepreneurship.
Here are some of the benefits of our Term Life Insurance.
We provide Term Life Insurance as part of a larger group plan, making it much more affordable and flexible than purchasing coverage separately.
Lower Cost
CPAIPW Term Life Insurance allows for higher coverage amounts at a much lower rate. This is because payments increase in five-year age brackets, meaning you pay your age (ie: a lower rate) at the time of purchase.
With our Term Life Insurance, you:
- Get a bigger policy at a much lower price during life’s financially demanding (younger) years, when you need it most.
- Never overpay for insurance.
You might see other industry plans with 20 or 30-year terms. These plans require you to pay a set amount, the rate a blend of all age amounts for that term. The downside? You pay a lot more up front—meaning you’re paying more during life’s financially demanding years—when your income is lower and debts are higher.
Purchasing More When You’re Young
Medical underwriting is done when purchasing a policy and is only required again if you wish to increase coverage. If you purchase a large policy when young and healthy, you’re getting a lot of coverage for a low price. Increasing coverage later in life is still an option, although it requires medical underwriting once again—which could mean higher rates, depending on your health status, and possibly getting declined.
If you purchase a large policy when young and healthy, you’re getting a lot of coverage for a low price.
Greater Flexibility
Our Term Life Insurance allows you to control your coverage. Underwriting is done once, unless you decide to increase your coverage. Plus, your plan is renewed yearly. You’re not locked in, and you can decrease your coverage as life changes.
Getting married, buying a house and having kids—or marriage, mortgage and munchkins, as we like to call it—are three milestones often accompanied by significant financial stress. Our Term Life Insurance supports those seeking security during these financially demanding moments. For example, when:
- Your standard of living is dependent upon a dual income. In other words, combining your income with a spouse might be the only reason you can financially support the life you’re currently leading.
- You’re paying for big-ticket expenses such as education, kids, and mortgages. On top of general expenses, these can contribute to large amounts of personal debt.
Cancel Anytime
With our Term Life Insurance, you can cancel or decrease your coverage at any time. This comes in handy when:
- You no longer have anyone financially dependent to support
- You have enough investments and equity to fall back on.
Chances are, by age 65, you have mature investments and no longer need the financial security of life insurance. The policy amount you purchase is fixed up to age 65 until the plan ends at 75.
You’re not locked in, and you can decrease your coverage as life changes.
Considering CPAIPW Term Life Insurance?
Curious about how much Term Life Insurance you should have? Visit our online Needs Assessment tool. You can also call our Licensed Advisors at 1-800-661-6430 or book an appointment if you have any questions or require assistance.
Want to get started with Term Life Insurance? Get a quote today.