Jackson Refines Perspective Variable Annuity Benefit Suite
Flex Suite offers a simplified way to achieve income growth and protection
Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of
“Our competitive variable annuity products continue to be a key differentiator for Jackson, and we remain committed to our core value proposition of offering investment freedom so clients can invest without restrictions,” said
The Flex Suite offers the following features:
- Choice of income options: The breadth of guaranteed income options — each with various withdrawal rates and costs — are customized to meet clients’ unique retirement goals.
-
Step-ups3: Clients who are focused on growth can take advantage of step-ups designed to automatically lock in any gains and grow the guaranteed withdrawal balance (GWB) when the market is up.
- Roll-ups: Roll-ups (annual bonus) may be applied when the market is flat or down, enabling the GWB to grow by a certain percentage. Roll-ups also “stack” and can be added onto previous market-based step-ups, if any.
- New benefit: The innovative Flex Strategic Income benefit helps clients who need more income early in retirement, looking to bridge the income gap that may need to be filled upon leaving the workforce. This new benefit also offers a unique feature that guarantees higher withdrawal rates for a defined period of time, enabling clients to better plan for retirement income by adding further protection against potential market volatility early in retirement.
- Competitive cost4: To remain competitive, Jackson has lowered the charges on select benefits as part of the Flex Suite updates. Additionally, through recent rate sheet changes, Jackson has streamlined the process for adjusting product costs, enabling more efficient updates.
- Legacy control: Flex DB offers a built-in death benefit that provides income and enables clients to leave behind an enhanced legacy for their loved ones.
- User-friendly microsite: Detailed product literature pertaining to the Flex Suite features, including roll-up and step-up options and costs, can be found on the newly launched Perspective Family microsite.
“Jackson understands the importance of providing flexible products that address each client’s unique needs, varying market outlooks and individual lifestyles,” continued Sward. “At their foundation, add-on living benefits can offer clients steady income and the opportunity to grow that income. Through Flex Suite, financial professionals are better able to personalize the retirement planning experience and provide customized investment advice to clients based on their distinct situation. Flex Suite enables clients to receive guaranteed lifetime income by selecting the benefit option that is in their best interest.”
Financial professionals who would like to learn more about the Flex Suite can contact the company at 1-800-711-7397, connect with their local wholesaler or visit the Perspective Family microsite.
ABOUT JACKSON
Jackson® (NYSE: JXN) is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Through our range of annuity products, financial know-how, history of award-winning service* and streamlined experiences, we strive to reduce the confusion that complicates retirement planning. We take a balanced, long-term approach to responsibly serving all our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community partners. We believe by providing clarity for all today, we can help drive better outcomes for tomorrow. For more information, visit www.jackson.com.
*SQM (
Jackson® is the marketing name for
SAFE HARBOR STATEMENT
The information in this press release contains forward-looking statements about future events and circumstances and their effects upon revenues, expenses and business opportunities. Generally speaking, any statement in this release not based upon historical fact is a forward-looking statement. Forward-looking statements can also be identified by the use of forward-looking or conditional words, such as “could,” “should,” “can,” “continue,” “estimate,” “forecast,” “intend,” “look,” “may,” “will,” “expect,” “believe,” “anticipate,” “plan,” “remain,” “confident” and “commit” or similar expressions. In particular, statements regarding plans, strategies, prospects, targets and expectations regarding the business and industry are forward-looking statements. They reflect expectations, are not guarantees of performance and speak only as of the dates the statements are made. We caution investors that these forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those projected, expressed, or implied. Factors that could cause actual results to differ materially from those in the forward-looking statements include those reflected in the Company’s reports filed with the
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 provide this and other important information. Please contact your financial professional or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
Jackson, its distributors, and their respective representatives do not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used and cannot be used for the purpose of avoiding
Variable annuities are long-term, tax-deferred investments designed for retirement, involve investment risks, and may lose value. Earnings are taxable as ordinary income when distributed. Individuals may be subject to a 10% additional tax if withdrawn before age 59½ unless an exception to the tax is met.
The latest income date allowed on variable annuity contracts is age 95, which is the required age to annuitize or to take a lump sum. If the guaranteed minimum death benefit value is greater than your contract value following mandatory annuitization at age 95, that difference will be locked in as a guaranteed death benefit. Please see the prospectus for important information regarding the annuitization of a contract.
In certain states, we reserve the right to refuse any subsequent premium payments.
Guarantees are backed by the claims-paying ability of
The long-term advantage of add-on benefits 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 an option may exceed the actual benefit paid under that option. Add-on death benefits are terminated if the contract value falls to zero and upon spousal continuation.
Variable annuities (VA775, VA775-CB1, ICC18 VA775, ICC18 VA775-CB1, VA775-RLC, ICC18 VA775-RLC, VA790, VA790-FB1, ICC17 VA790, ICC17 VA790-FB1, VA710, VA710-CB1, ICC19 VA710, ICC19 VA710-CB1, VA720, VA720-CB1, ICC19 VA720, ICC19 VA720-CB1) are issued by
Firm and state variations may apply. Additionally, products not available in all states.
1
2 Lifetime income of the add-on lifetime benefits becomes effective at issue if the designated life is age 59½ at issue, or upon the contract anniversary following designated life’s 59½ birthday, provided the contract value is greater than zero and has not been annuitized.
3 Step-ups and the annual bonus (Roll-up) are applied on an annual basis, if applicable, to your protected balance, not the contract value, and you receive the greater of the two, not both. Once elected, the bonus (Roll-up) and income options you choose cannot be canceled or changed.
4 Add-on benefits are available for an extra charge in addition to the ongoing fees and expenses of the variable annuity. There is no guarantee that a variable annuity with an add-on living benefit will provide sufficient supplemental retirement income.
src="https://cts.businesswire.com/ct/CT?id=bwnewssty=20230828109681r1sid=acqr8distro=nxlang=en" style="width:0;height:0" />
View source version on businesswire.com: https://www.businesswire.com/news/home/20230828109681/en/
[email protected]
Source:
Vahanna Tech Edge Acquisition I Corporation Announces Shareholder Approval of Business Combination with Roadzen, Inc. on August 25, 2023
Anthem Blue Cross and Blue Shield Introduces Anthem Link Virtual First Health Plans, Helping Members Access Convenient, Affordable Care Options
Advisor News
- Trump targets ‘retirement gap’ with new executive order
- Younger investors are engaged and advisors must adapt
- Plugging the hidden budget leaks of retirement
- Hagens Berman: Retired First Responders Sue Washington State over Rights to $3.3B Pension Funds Threatened by Lawmakers
- Financially support your adult children without risking your future
More Advisor NewsAnnuity News
- A new opportunity for advisors: Younger indexed annuity buyers
- Most employers support embedding guaranteed lifetime income options into DC Plans
- InspereX Partners with AuguStar Retirement for Strategic Expansion into Annuity Market
- FACC and DOL enter stipulation to dismiss 2020 guidance lawsuit
- Zinnia’s Zahara policy admin system adds FIA chassis to product library
More Annuity NewsHealth/Employee Benefits News
- SchoolCare ordered to continue covering Dover school employees
- Her husband died. Her fight for his Medicaid coverage continued
- Mayo treated his cancer, but insurance denied coverage, leaving him with $76K in medical bills
- Waterloo woman charged with using dead relative's Social Security payments
- Nashville Attorney, Cody Allison, Invited to Present on Strafford National Panel as ERISA Disability Benefits Expert
More Health/Employee Benefits NewsLife Insurance News
- Ann Heiss
- Convertible market dynamics and the portfolio implications for insurers
- Finalists announced for Lincoln's 2026 Best Places to Work
- Investors Heritage Promotes Anna Reynolds to Senior Vice President and General Counsel
- AM Best Affirms Credit Ratings of Old Republic International Corporation’s Subsidiaries
More Life Insurance News