Edward Jones Canada | Income protection

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.

Don’t forget to designate a beneficiary!

Naming your beneficiary is extremely important to the people you care about most and ensure your wishes will be met. You can name one or more individuals or your trust.

Go to Personal and Job Information (JAC) (must be on the Edward Jones network) > Select Benefits/RRSP on the left > Scroll down and click Add/Edit > Select Life Event > Request a Life Event > Beneficiary Change.

Notes:

To name trustees for minor children, use the Beneficiary Designation Form. Once completed, forms must be faxed to CANBenefits at 877-904-7889.
You are automatically the beneficiary for spouse life insurance.

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 up to a maximum of $150,000
Financial advisors and principals whose branch production is less than $400,000: $150,000
Financial advisors and principals whose branch production is $400,000+: $250,000

Benefit reduction for associates age 65+

Each January 1, the benefit amount reduces:

by 20% from ages 65–68
to $15,000 after you turn 69
to $10,000 after you turn 70

The benefit is terminated upon your retirement.

Financial Advisor Survivor Benefit

Financial advisors with more than five years of service as an Edward Jones Financial Advisor will automatically be enroled in additional firm paid life insurance called the Financial Advisor Survivor Benefit. You can waive this coverage but will not be able to re-enrol 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.

Optional Life Insurance

In addition to firm provided Basic Life Insurance, you can elect additional coverage for yourself and your spouse or approved Common Law Partner.

For client support team professionals and home office associates: Up to the lesser of 10 times your annual earnings or $1.1 million
For financial advisors and principals: Up to $1.1 million
For your spouse/Common Law Partner: $50,000, $100,000, $150,000, $200,000 or $250,000

Evidence of Insurability

Evidence of Insurability, also known as proof of good health, is required for all spouse/Common Law Partner life insurance coverage.

You may be required to provide proof of good health for yourself if you:

Elect more than $50,000 in coverage for yourself when you’re first eligible
Buy coverage for yourself after you’re first eligible

Submit your request for additional life insurance to CANBenefits@edwardjones.com for review and next steps

Increase coverage without proof of good health

You can enrol in up to $50,000 of optional life insurance coverage when you’re first eligible without providing any health information.

Basic AD&D

Edward Jones provides full-time associates with basic AD&D insurance if they are severely injured or die as a result of an accident. 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 up to a maximum of $150,000
Financial advisors and principals whose branch production is less than $400,000:$150,000
Financial advisors and principals whose branch production is $400,000+: $250,000

Optional AD&D Insurance

In addition to firm provided basic AD&D insurance, you can elect more coverage for yourself and your spouse or approved Common Law Partner.

For you: Increments of $50,000 up to $1.1 million, or 10 times your annual compensation, whichever is less.
For your spouse/Common Law Partner: 50% of your Optional AD&D amount, up to a maximum of $550,000.

Income protection benefits