Company releases first fee-based variable annuity, addresses increased industry demand for fee-based products
“In today’s heightened regulatory environment, many of our distribution partners are choosing this type of product to serve their clients who are seeking strategies for retirement planning,” Cicotte said. “At Jackson, we have always believed commissions and fees can coexist in this space, and the launch of Perspective Advisory is a step toward making that a reality. While we continue to view commission-based products as a client-friendly way to reap the benefits variable annuities provide, we also recognize the need and demand for fee-based products.”
Perspective Advisory’s key features include:
- Compensation structure: Advisor compensation is fee-based, rather than commission-based.
- Product cost: Contract charge of 0.30 percent annually for mortality, expense and administration costs.
- Surrender period: Three-year withdrawal charge schedule of 2 percent, 2 percent, 1 percent and 0 percent.
- Investment freedom: More than 90 investment options are available, offering access to world-class money managers and the flexibility to design a portfolio that meets consumers’ unique investing needs.
- Product guarantees: A full suite of optional living and death benefits are available at an additional charge, designed to provide the opportunity to grow retirement assets and obtain guaranteed income for life.
“The launch of Perspective Advisory fosters the opportunity to expand our presence in the industry and work with advisors who may be new to Jackson,” said
Jackson is committed to providing education, service support and digital tools to increase the ease of doing business through a new product offering. Financial professionals who would like to learn more about Perspective Advisory can contact Jackson at 800/711-JNLD (5653) or visit www.jackson.com.
Jackson is a leading provider of retirement products for industry professionals and their clients. The company offers a diverse range of products including variable, fixed and fixed index annuities designed for tax-efficient accumulation and distribution of retirement income for retail customers, and fixed income products for institutional investors. Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services. With
Jackson is the marketing name for
Jackson National Life Insurance Company is an indirect subsidiary of
This press release may contain certain statements that constitute “forward-looking statements.” Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management’s expectations, beliefs or projections will result or be achieved or accomplished. Any forward-looking statements reflect Jackson’s views and assumptions as of the date of this press release and Jackson disclaims any obligation to update forward-looking information.
Before investing, investors should carefully consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
Guarantees are backed by the claims-paying ability of
A variable annuity is a long-term, tax-deferred investment designed for retirement, involves investment risks and may lose value. Earnings are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59½.
Optional living benefits and death benefits may be elected at issue and, once elected, may not be cancelled. Only one optional living benefit and one optional death benefit may be elected per contract. May not be available in all states or on all products, and state variations may apply. The long-term advantage of the benefit will vary with the terms of the benefit option, the investment performance of the variable investment options selected, and the length of time the annuity is owned. As a result, in some circumstances the cost of the option may exceed the actual benefit paid under the option.
The PerspectiveSM Family of Variable Annuities (VA620, VA770) is issued by
Jackson National Life Insurance Company