Group Variable Universal Life (GVUL), an insurance plan that combines coverage with tax-deferred investment opportunities, is now available from the AICPA Insurance Trust. This new plan provides coverage of up to $1 million (depending on age) at competitive rates; participants may also add dependent children and have an option to extend coverage during disability. GVUL is part of Select Status, which can lower rates for members ages 50 to 74. Participants can choose from among 10 variable investment options plus a fixed-rate account.
Members do not have to be current participants in the CPA Flexible Life Insurance Plan. Those who are can transfer their current coverage; money in a cash accumulation fund can be transferred tax-free. Coverage extends to age 100, although it may be reduced at ages 75 and 80. Participants under age 70 do not have to present any medical evidence.
To order a prospectus and a free information kit, call Aon Securities Corp. at 800-223-7473.