Jackson Releases New Fee-Based Variable Annuity

DENVER, Colo. – November 14, 2017 – Jackson National Life Insurance Company® (Jackson®) today announced the launch of Perspective Advisory II (PAII), a fee-based variable annuity with no surrender charge, designed to address personal investment challenges and help people pursue financial freedom in retirement. As part of its expanded suite of product offerings and access to elite money managers, the company has also established a new relationship with Vanguard, one of the world’s largest investment management companies.

“At Jackson, we’re committed to providing the best product options for our advisors and their clients — and we’ve honored this promise since our company was founded,” said Greg Cicotte, executive vice president and chief distribution officer for Jackson. “As our industry continues to evolve, we’re proud of our ability to consistently introduce new products and develop relationships with strong investment partners. Our go-to-market process provides our distribution partners with the flexibility to choose quality strategies that can help their clients pursue financial freedom and live the lives they want.”

As Jackson continues to expand into advisory distribution channels where insurance products historically have not been widely utilized, PAII’s low-cost subaccount structure, vast selection of investment options and full suite of optional living and death benefits are designed to resonate well in the advisory space.

Perspective Advisory II’s key features include:

• Compensation structure: Advisor compensation is fee-based, rather than commission-based.
• Product cost: PAII offers institutionally priced subaccounts with no 12b-1 fees, commissions or withdrawal charges. The unique product design provides for increased transparency and the lower-cost subaccount structure, in addition to the core contract charge of the product, better matches what many fee-based advisors offer within their managed account platforms.
• Surrender period: There is no surrender period and zero withdrawal charges or related waivers.
• Investment freedom: More than 130 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 robust suite of optional living and death benefits are available for an additional charge, designed to provide the opportunity to grow retirement assets and obtain a lifetime income stream.

 

“Following the release of the U.S. Department of Labor fiduciary rules, we fully recognize the need and demand for fee-based products,” said Brian Sward, senior vice president of Product and Investment Management for Jackson National Life Distributors LLC (JNLD). “Since entering the fee-based space about a year ago, we’ve formed relationships with new advisors who haven’t traditionally sold our products or done business with Jackson. We look forward to strengthening these relationships and building new ones with advisors who are committed to supporting the best interests of their clients — many of whom recognize annuities can serve as a foundational part of a viable financial plan.”

On September 25, 10 new Vanguard funds became available as investment options across Jackson’s suite of product offerings. According to Sward, Vanguard’s low-cost, competitive investment options fit well in Jackson’s annuities lineup.

“As a respected and highly-recognized leader in the advisory space, Vanguard is equally focused on serving the best interests of advisors and their clients — their strong and unwavering reputation directly reflects that vision,” said Sward.

Tom Rampulla, managing director of Vanguard’s Financial Advisor Services Division, said, “Vanguard is excited about the opportunity to work with Jackson and provide an expanded suite of Vanguard funds within the firm’s new annuity offering. We look forward to contributing to the success of their latest initiative to bring a lower cost and more transparent variable annuity to fee-based advisors.”