You’re eligible to apply for coverage, if you’re:

• Under age 65
• A member of the AICPA or a State Society of CPAs or other qualifying organization
• Living in eligible states or territories
• Working at least 17.5 hours per week at time of enrollment

Many employer-sponsored plans pay only a limited portion of your salary, which might not be enough to cover your financial obligations and expenses if you’re disabled. Our members are encountering a changing environment where their employer-provided benefits may be lessening. The Long Term Disability (LTD) Income Plan provides two options—the Total & Partial Disability Plan and the Total Disability Plan, goes with you when you change jobs, and offers features not commonly found in employer and government-sponsored plans, such as:

• A “your own occupation” definition of disability that pays benefits if you’re unable to perform the duties of your occupation—not just any occupation.
• Benefits until your disability ends if you are totally disabled before age 50; up to age 67 if you’re totally disabled at age 50 – 64; up to two years if you’re totally disabled at age 65 – 69. ¹
• No offsets to your benefits based on other benefits you may receive.
• Coverage up to age 70 (many other LTD plans end coverage at 65).
• Tax-free benefits: Under current Federal Income Tax rules, your monthly benefit is generally free from income tax because premiums are paid with after-tax dollars (IRC Section 104).
• Higher benefit amounts: AICPA members can apply up to $12,000/month, depending on earnings and other disability coverage. State Society members can apply for up to $3,000/month.
• A choice of waiting periods before your monthly benefits begin. A 13-week waiting period may allow you to receive benefits sooner. A 26-week period carries substantially lower rates.

¹ The information within this material reflects the maximum duration of disability for Insureds who become disabled on or after January 1, 2015.

Other programs could help cover your expenses, but not like our Plan.

Consider this: ¹

• Social Security benefits might not be that easy to qualify for.
• Even if you do, you’ll have to wait six months before you can get benefits.
• You’re only covered for disabilities that are expected to last 12 months or longer or end in death.
• You may have to pay federal income tax on your benefits.

¹ Social Security Administration, http://www.ssa.gov (last accessed 8/23/2024).

For the Total Disability Income Option:

You must be unable to perform all material and substantial duties normally required in your own occupation and be under the regular care of a doctor. Material and substantial duties cannot be reasonably omitted or modified. You also can’t work at any job for wage or profit during your waiting period. (This is also known as the “elimination” period, which is the length of time between when an injury or illness occurs and you may start receiving benefits.)

For the Total + Partial Disability Income Option:

You must be unable to perform the material and substantial duties normally required in your occupation, be under the regular care of a doctor, and have a 20% or more loss in your monthly earnings due to sickness or injury to be considered disabled during your waiting period. Material and substantial duties cannot be reasonably omitted or modified. That means you can satisfy the waiting period while working reduced hours. If you are normally required to work more than 40 hours per week on average and you are currently working or have the capacity to work 40 hours per week, you may not qualify for benefits.

Plan details may vary.

Yes, as long as you meet the definition of disability.

If you are receiving benefits for a disability while covered under the Plan and recover, and then become disabled for the same or related condition within six months of returning back to work full-time, you would not need to satisfy another waiting period.

However, if you return to work for more than six months or become disabled for another unrelated condition, you would need to satisfy another waiting period.

You’re covered until age 70, unless you’re already receiving claim benefits.

Other reasons why your coverage could end:

• You’re no longer a member of the AICPA or any State Society of CPAs
• The master policy terminates
• You withdraw from the Plan voluntarily
• You don’t pay for your coverage

You may request to move to a lower monthly benefit amount if your coverage is more than $1,000. If you’ve received benefits until your Maximum Period of Payment for your disability, you’re no longer eligible to continue your coverage to age 70.

For the Total Disability Income Option:

"Monthly earnings" means the greater of (1) or (2) where:

(1) Equals 1/12 of the average of your salary and net earned income from self-employment and trade or business activities as reported to the Internal Revenue Service (IRS) for income tax purposes for the two calendar years before the calendar year the request is made, and

(2) Equals 1/12 of your annual salary rate in effect on the date of the request; or if the preceding item (2) can’t be determined, 1/12 of your actual earnings for the 12 calendar months immediately before the request; or if this can’t be determined, your actual earnings for the calendar month before the request. Salary will be based on your earnings from your employer(s), to include bonus and commissions, but excludes overtime pay, for a normal work week not exceeding 40 hours. Monthly earnings will be satisfied at the time of application, at each renewal date, and at the time of claim.

For the Total + Partial Disability Income Option:

"Monthly earnings" means the average gross monthly income as reported on your federal income tax returns for the two calendar years immediately preceding your date of disability after deduction of normal business expenses and losses. "Monthly earnings" also includes salary, profits, fees, commissions, bonuses, and other compensation you received for professional and other services. "Monthly earnings" does not include investment returns, rent, royalties, and similar types of income not produced as a result of your occupation.