Jackson Introduces LifePay Benefit for Fixed Index Annuity

Jackson National Life Insurance Company (Jackson) recently reported the launch of LifePay, the company's first lifetime income benefit option within the Jackson AscenderPlus Select fixed index annuity (FIA).

According to a company release, the new feature, available for an additional charge, offers contract-holders the flexibility to start or stop income payments as needed, as well as the opportunity to manage longevity risk and increase growth potential. Jackson AscenderPlus Select with LifePay will replace the current Jackson AscenderPlus Select contract.

"LifePay allows clients to receive guaranteed income for life from a product that already helps them address two major concerns - low interest rates that may create retirement savings challenges and longevity risk as people continue to live longer, healthier lives," said Marilynn Scherer, vice president of fixed and FIA product management for Jackson National Life Distributors. "The low-cost structure and flexibility of this benefit will allow financial professionals to offer a product that generates a dependable income stream their clients won't outlive."

"The Strategic4 Index provides clients with an additional opportunity to choose how they'd like to grow their income, and it can help them add greater overall diversification," said Scherer. "These two enhancements to our top-selling fixed index annuity reinforce our commitment to providing products that deliver long- term value to the customer."

More information:

www.jackson.com

((Comments on this story may be sent to [email protected]))