Edward Jones provides basic life insurance to all full-time associates at no cost to you.
Financial advisors with more than 10 years of service as an Edward Jones advisor will be automatically enrolled in this additional firm-paid life insurance plan.
Benefit: The benefit is equal to 50% of your previous calendar year's gross revenue (commonly referred to a "gross branch commissions") as shown on the year-end Profit and Loss Statement, up to the maximum benefit of $1.5 million in U.S. dollars. This benefit would be paid in addition to the basic firm-paid life insurance and any optional life insurance you may have elected. The Survivor Benefit amount will be updated annually. The premiums for this coverage are paid by Edward Jones. This coverage will have additional tax consequences as described below.
If a Claim is filed: Because this policy is issued by a U.S. insurance company, the benefit will be paid to your beneficiaries in U.S. dollars. The benefit amount will be determined at the date of death based on the exchange rate at that time.
When Coverage Ends:
Beneficiaries: The beneficiaries of this Survivor Benefit coverage are the same beneficiaries as your basic life insurance plan.
Tax Consequences: Associates covered by the Survivor Benefit must pay income tax on the premiums paid by Edward Jones on their behalf, plus any applicable provincial sales and excise taxes.
Waive Coverage Option: You may waive the Survivor Benefit coverage. Once waived, you cannot re-enroll in this coverage at any time in the future. To request a waiver, please email Enroll@edwardjones.com.
You also can purchase more life insurance for yourself.
When you make your online benefit elections, you will designate a beneficiary who will receive this benefit upon your death. You may name one or more individuals or your trust.
To update your beneficary electronically:
Branch associates: Go to JonesLink>Working at Jones>Personal and Job Information
Note: When naming trustees for minor children, please use the Beneficiary Designation Form which can be found under Resources.
Edward Jones offers spouse life insurance in increments of $50,000, to a maximum of $250,000.