Jackson(SM) Introduces New OptiMAX Level Rate Fixed Annuities

Business Editors/Insurance Writers

LANSING, Mich.--(BUSINESS WIRE)--May 19, 2008--Jackson National Life Insurance Company ® (Jackson) today announced new additions to its OptiMAX family of fixed annuities. Designed specifically for the bank channel, Jackson’s OptiMAX Level Rate One SM and OptiMAX Level Rate Two SM fixed annuity contracts offer a choice of interest rate guarantee periods, flexible withdrawal provisions and a guarantee of principal with tax-deferred earnings to help customers preserve and grow their retirement savings. A similar contract, OptiMAX NY Level Rate, will be available in New York.

“As part of a client’s diversified portfolio, fixed annuities can provide an effective means of securing a portion of the investor’s assets while accumulating tax-deferred interest,” said Steve Kluever, senior vice president, product management, Jackson National Life Distributors LLC (JNLD). “Jackson’s new OptiMAX fixed annuities offer a menu of standard and optional features that allows advisers to customize the products according to their clients’ needs, while also offering the consistency and clarity of a steady interest rate.”

OptiMAX Level Rate One and OptiMAX Level Rate Two both offer Jackson’s optional earnings protection death benefit, EarningsMAX ®, which pays contract holders’ beneficiaries up to an additional 40 percent 1 of the contract earnings to help cover taxes and other expenses. OptiMAX Level Rate Two also features an accelerated benefit that allows contract holders with certain qualified medical conditions to withdraw up to 25 percent of their accumulated value without incurring a withdrawal charge 2. Furthermore, both products give contract holders the option of converting the value of their OptiMAX annuity into a retirement income stream, including the option for guaranteed lifetime income.

“Research shows that investors tend to consider how a fixed annuity’s base rate compares to the rate available on a one-year CD when choosing between the products,” said Doug Mantelli, vice president, business development, JNLD. “The competitive base rates and extended guarantee periods offered by Jackson’s new Level Rate options provide bank programs with an excellent fixed rate alternative for their customers in today’s low interest rate environment. The latest additions to our OptiMAX fixed annuity line also demonstrate Jackson’s commitment to the bank channel and our ongoing efforts to develop products that are designed to meet the specific needs of financial institutions and their clients.”

Jackson’s new Level Rate options strengthen the company’s OptiMAX family of fixed annuities, which features seven-year withdrawal charge periods, competitive interest rates and a variety of options, including 15-percent free withdrawals, required minimum distributions, and extended care and terminal illness benefits.

Advisers who are interested in learning more about Jackson’s OptiMAX fixed annuities or any of Jackson’s fixed annuity products should call 800/777-7900, or visit www.jnl.com. Financial institutions that would like more information on Jackson’s fixed annuity products should contact Doug Mantelli at 303-488-4303 or [email protected].

1 Available for an additional cost, for owners of contracts issued up to age 69. For owners aged 70-75 at issue, EarningsMAX is calculated at 25% of contract earnings. EarningsMAX is not available if the owner is older than age 75 on the date of issue. May not be available in all states.

2 Available for an additional cost. Not available in Connecticut or New York.

About Jackson National Life Insurance Company

With more than $82 billion in assets (GAAP)*, Jackson National Life Insurance Company (Jackson) is an industry leader in variable, fixed and fixed index annuities. The company also sells life insurance and institutional products. Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, financial institutions and independent insurance agents. Jackson’s subsidiary, Jackson National Life Insurance Company of New York®, similarly markets variable and fixed annuities in the state of New York. Through its affiliates and subsidiaries, Jackson also provides asset management, retail mutual funds and retail brokerage services. For more information, visit www.jnl.com.

* Jackson had more than $82 billion in total GAAP assets and more than $74 billion in GAAP policy liabilities set aside to pay primarily future policyowner benefits (as of 12/31/07).

The OptiMAX Family of Flexible Premium Deferred Fixed Annuities (A620B 7/99, A620BCT-2, A620 7/99) is issued by Jackson National Life Insurance Company ®, (Home Office: Lansing, Michigan). Some products may not be available in all states. State variations may apply. The contract has limitations and restrictions, including withdrawal charges. For costs and complete details, call your representative or the Company. Jackson issues a variety of fixed annuity products with different features, benefits, terms, charges and limitations. Jackson and its affiliates do not give legal, tax or estate-planning advice. If you have questions regarding your specific situation, please consult a qualified advisor.

A fixed annuity is a long-term, tax-deferred vehicle designed for retirement. Earnings are taxable as ordinary income when distributed and, if withdrawn before age 59 1/2, may be subject to a 10% federal tax penalty.

Fixed annuities are issued by Jackson National Life Insurance Company, Home Office: Lansing, Michigan and distributed by Jackson National Life Distributors LLC. Not available in all states and state variations may apply. These products are fixed annuities that do not participate in any stock or equity investments. Limitations and restrictions apply, including possible withdrawal charged. During the first four contract years, the annuity's cash withdrawal value may be less than the initial premium. For costs and complete details, contact your representative or the Company.

The following cautionary statement is included to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, the Company. 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.