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Jackson National Fixed and Variable Annuities


Jackson National is a life insurance company that offers services like annuities, life insurance and retirement planning methods to ensure your life is planned for and enable you to enjoy your life after retirement. The company was established in 1961 and is owned by England’s prudential PLC. It offers these financial services through banks, financial planners, regional brokers and independent agents. The company also provides asset management, mutual fund and brokerage services.

Some of the annuities and insurance offered at Jackson National are three variable annuities, five fixed index annuities and four fixed annuities. Annuity is a long-term investment designed for retirement and is exempted from tax. It is however taxable when withdrawn before the age of 59 and half years. Before you choose the best annuity or insurance plan to settle for you should have information about the risks, charges and expenses of the variety of the insurance products offered at Jackson National. Some of these annuities have options for death benefits, accelerated benefits, extended care benefits and terminal illness benefits.

The fixed annuities are where the insurance company pays a fixed amount of money per period. These do not participate in equity investment and have limitations or restrictions about the possible withdrawal charges and recapture services. The withdrawal charge period may result to cash withdrawal that is less than the principal allocation. For elite choice rewards the interest caps may be lower, withdrawal charges may be higher and recapture periods longer. Jackson National offers other fixed index annuities that have different product features, benefits charges like the withdrawal charges, contact options, index participation rate and caps. The earnings are taxable as ordinary income if withdrawn before reaching the age of 59 and half years. The tax penalty might be 10%. The annuity withdrawal cash may be lower than the principal allocation if this happens. The different types are action family, bonus max family, max family, super max family, target select and Jackson fixed annuities at a glance.

The variable annuity provides guarantee for contract holders to premium and life income and the continuation of benefits for joint survivors. The different types of variable annuities at Jackson National are perspective II that has seven-year withdrawal charge schedule with minimum investment of 5000 dollars, the perspective L series of four-year withdrawal charge schedule with 10,000 dollars as minimum investment, the perspective advisors II with no minimum withdrawal charge period and 25,000 minimum investment. There is the perspective rewards that has nine-year withdrawal charge period, nine-year recapture period and 5,000 dollars minimum investment.

Jackson National has an issue age of 45 years and allows for return of premium and the potential of income for life which becomes effective on the contract anniversary at the 65th birthday of the owner. At this point the benefit becomes a reset. Jackson National has continued to improve their services by introducing other benefits to their variable annuities to enable their clients to have varieties to choose from. For example the introduction of the bonus period for the lifeguard freedom optional benefits that provides the potential bonus period of more than 10 years. It offers 200% guarantee withdrawal benefit for premium received before the period of the first contract anniversary. They also give the opportunity for the variable annuity holders guarantee to increase their annual withdrawal percentages as they grow older.