Provider Overview: Jackson National Annuities

Published: 18th September 2009
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Jackson National Life Insurance Company was a family-owned company that was formed in 1961. The company was named after Andrew Jackson, the seventh president of the United States.

Although it is a young company, when compared to some of the other insurance giants, it has had many accomplishments that it can be proud of. Amongst its many achievements is the fact that the company introduced an early version of universal life insurance eight years before another company offered a similar product in the marketplace.

Today, the company's sales are over $14.5 billion, and the total assets are close to $75 billion. Jackson is owned by England's Prudential PLC which is the world's 8th largest life insurance company.

Over the years, Jackson has extended its product range. The group now offers individual life insurance, institutional products, fixed and variable annuities, asset management, retail mutual funds, and retail brokerage services to its clients.

The company prides itself on acting responsibly and with integrity. At its foundations, the organization also believes in contributing to the communities in which they operate. Therefore, the company has created the Jackson National Community Fund (JNCF) to provide donations and sponsorships to community programs, educational institutions, and charitable organizations. JNCF focuses particular on organizations whose goal is to enhance the lives of children and the elderly.

Jackson's products, including its annuities and life insurance, are developed for use with customized retirement plans. Throughout its existence, the organization has focused on the retirement arena and claims that this situation is an advantage that it can offer to its clients over other competitors who have not always concentrated on the retirement sector.

In terms of annuities, Jackson offers twelve products. The product portfolio includes three variable annuities, five fixed index annuities, and four fixed annuities. The detailed products are as follows:

Variable Annuities:

• Perspective II

• Perspective L Series

• Perspective Advisors II

Fixed Index Annuities:

• Jackson AscenderPlus

• Jackson AscenderPlus Select

• Select Annual Reset

• Elite Annual Reset

• Elite Choice

Fixed Annuities:

• Target Select

• Action Family

• BonusMAX Family

• SuperMAX Family

The options and fees for Jackson annuities vary by the product. However, most products do have options for death benefits. The insurer also offers accelerated benefits, extended care benefits, and terminal illness benefits on its annuity products.

The independent rating agencies have rated Jackson towards the top of the rating lists. For example, A.M. Best's rating for Jackson is A+ (Superior). This is the 2nd position of 16 possible categories. Fitch rated the company AA (Very Strong) which is the 3rd highest category of 24. Finally Standard & Poor's has also given Jackson a rating of AA (Very Strong) which is the 3rd highest rating of 21. These ratings were as of March 2009.

When compared to other U.S. life insurance companies, Jackson has the following asset rankings (as of December 2008):

• 16th largest when ranked by general account assets

• 19th largest when ranked by total assets.

For more information from Steven on how to invest in annuities, their pros & cons, and common investment mistakes, visit Free Annuity To learn more about the differences between variable and index annuities, visit the Variable Annuity or Index Annuity Guides.

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