Edward Jones offers life insurance and accidental death and dismemberment (AD&D) insurance to give you and your family peace of mind and income protection if something unexpected happens.
Basic Life Insurance
Edward Jones provides full-time associates with basic life insurance in the event of their death. The amount of coverage the firm provides—at no cost to you—is based on your role at the firm.
- Client support team professionals and home office associates: two times your annual compensation (minimum: $50,000; maximum of $100,000)
- Financial advisors1 and principals: $100,000
Financial Advisor Survivor Benefit
Financial advisors1 with more than five years of service as an Edward Jones Financial Advisor will automatically be enrolled in additional firm paid life insurance called the Financial Advisor Survivor Benefit. You can waive this coverage but will not be able to re-enroll later. The amount of the benefit is based on your average gross revenue from the past three calendar years, excluding the highest and lowest earning months.
If your trailing 12-month gross commissions are less than $1 million, the benefit is equal to 75% of your average gross revenue from the past three calendar years, up to $750,000. For example, if your average gross revenue is $600,000, the benefit would be $450,000 ($600,000 x 0.75).
If your trailing 12-month gross commissions are $1 million or more, your benefit is calculated based on the below chart. The maximum total benefit is $15 million.
| Average Gross Revenue (past three calendar years) | % Payout |
|---|---|
| First $1,000,000 | 102% |
| Next $500,000 ($1,000,001 - $1,500,000) | 120% |
| Next $750,000 ($1,500,001 - $2,250,000) | 150% |
| Next $1,125,000 ($2,250,001 - $3,375,000) | 195% |
| Next $1,625,000 ($3,375,001 - $5,000,000) | 255% |
| Any amount over $5,000,000 | 270% |
For example, if your average gross revenue is $3 million, the benefit would be $4,207,500 (($1,000,000 * 1.02) + ($500,000 * 1.2) + ($750,000) * 1.5) + ($750,000 * 1.95) = $4,207,500).
Note: If your average gross revenue is $7,191,667 or more, the benefit would be the maximum $15,000,000.
Receiving more than $50,000 in basic life insurance?
The IRS requires you to pay tax on the “imputed income” related to your basic life insurance benefit. How imputed income is calculated will depend on your role with the firm:
