Disability
Disability insurance provides financial protection if you’re unable to work due to illness or injury. It replaces a portion of your income, helping you manage everyday expenses and maintain stability while you recover. Short Term Disability (STD) typically covers temporary conditions, while Long Term Disability (LTD) offers extended support for more serious or long-lasting health issues. This coverage offers peace of mind, ensuring you’ll still receive a steady income if the unexpected happens.
New York Life is the leave and disability administrator for the Firm. To apply for disability benefits, contact them at 888-842-4462.
In the event that you become disabled from a non-work-related injury or illness, disability income benefits will provide a partial replacement of lost income. You are not eligible to receive STD payments if you are receiving workers’ compensation benefits.
Short-Term Disability – Benefits Eligible Employees
Benjamin F. Edwards provides full-time employees with company-paid Short-Term Disability (STD) income benefits.
Company-Paid Short-Term Disability*
| Payments Begin | After being disabled for more than 7 consecutive calendar days |
| Maximum Period | 13 weeks |
| Percentage of Income Replacement (Based On Years of Service) | Less than 1 year – 60% 1 year to 4 years – 80% 5 or more years – 100% |
* For Short-Term Disability, you must be employed with the Firm for at least 90 consecutive days immediately preceding the date the disability begins.
Short-Term Disability – Advisors
Benjamin F. Edwards provides full-time advisors with the opportunity to purchase Short-Term Disability (STD).
| Payments Begin** | Class 1 – 8th day for accident/sickness Class 2 – 14th day for accident/sickness |
| Maximum Period | Class 1 – 12 weeks Class 2 – 11 weeks |
| Percentage of Income Replacement | 60% up to $2,500 weekly |
* Financial Advisors can enroll in either Class 1 or Class 2 benefits upon hire and during Open Enrollment.
** The payment begin date may begin sooner if you are admitted as an inpatient in a hospital prior to the end of the time period specified.
Voluntary Long-Term Disability – Benefits Eligible Employees
Benjamin F. Edwards provides full-time employees with the ability to purchase Long-Term Disability (LTD) income benefits.
Voluntary Long-Term Disability
| Payments Begin | After 90 days |
| Maximum Period | To age 65 or SSNRA |
| Percentage of Income Replacement | 60% |
| Minimum Benefit | Greater of $100 or 15% of monthly benefit |
| Maximum Benefit | $10,000 monthly benefit |
Voluntary Long-Term Disability – Advisors
Benjamin F. Edwards provides full-time employees with the ability to purchase Long-Term Disability (LTD) income benefits.
Voluntary Long-Term Disability
| Payments Begin | After 90 days |
| Maximum Period | To age 65 or SSNRA |
| Percentage of Income Replacement | 60% |
| Minimum Benefit | Greater of $100 or 15% of monthly benefit |
| Maximum Benefit | $15,000 monthly benefit |
Short-Term Disability*