Jackson National Life Insurance Company Review

Life insurance is an important component of any good financial plan. Choosing a company like Jackson National Life Insurance can help you to protect the assets that you have built, in addition to the people that you love.

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Jackson National Life Insurance At A Glance

Premiums written 21,511,557
Financial Strength A from A.M. Best.
Year Founded 1961
Coverage Area Nationwide
HQ Address 1 Corporate Way Lansing, MI 48951 
Phone Number 1 (877) 565-2968

Get started with Jackson National Life Insurance today!

Jackson National Life Insurance Company Information

The firm currently consists of three separate entities, including Jackson National Life Insurance Company, Jackson National Life Insurance Company of New York, and Brooke Life Insurance Company.

When it comes to being secure and stable for a long time you want to make sure an insurance company has plenty of assets to cover claims. Jackson performs well here too and their leaders understand that staying in business it’s important to have large assets.

As a subsidiary of Jackson National, Curian Capital, LLC, manufactures and distributes a very comprehensive suite of various investment strategies and asset management solutions for institutions, advisors, and their clients. This company uses a highly technologically advanced platform for doing so, which can, in turn, assist advisors in terms of efficiency and profitability.

It can also help clients with a very highly customized investment management solution for their financial and retirement planning needs.

Another Jackson subsidiary, Jackson National Asset Management, LLC, provides investment advisory, transfer agency, fund accounting, and administration services for funds and separate accounts that support Jackson’s variable products, and employee 401(k) plans.

National Planning Holdings, Inc, a network of four independent broker-dealers, consists of the following:

  • INVEST Financial Corporation
  • Investment Centers of America, Inc.
  • National Planning Corporation
  • Sll Investments, Inc.

Financial Strength

Jackson National Life Insurance Company garners high remarks from the insurance company rating agencies. These include the following:

  • An (Excellent) from A.M. Best. This is the third-highest rating out of 16 rating categories.
  • AA (Very Strong) from Fitch Ratings. This is the third highest out of 19 rating categories.
  • AA (Very Strong) from Standard & Poor’s. This is the third highest out of 21 rating categories.
  • A1 (Good) from Moody’s Investors Service, Inc. This is the fifth-highest out of 21 rating categories.

Jackson National Life Insurance Products

Contrary to the name of the company, Jackson National Life Insurance does not offer life insurance policies. Jackson National instead offers fixed, fixed-indexed and variable annuities.

The products are sold through 2 outlets, including Jackson National Life Distributors, LLC, (JNLD), and the Institutional Products department. JNLD handles the Jackson National retail products – including annuities – to both independent and regional broker-dealers, warehouses, independent agents, and other financial institutions.

The Institutional Products department at Jackson National sells medium-term notes, funding agreements, and guaranteed investment contracts – to banks, investors and pension providers.

Fixed Annuities

A fixed annuity will offer its owner a fixed amount of interest that is credited on an annual basis. The key benefit with fixed annuities is the safety of the principal that they allow their owners – along with the satisfaction knowing that they will not be losing the money that they have oftentimes worked a lifetime to save. The tradeoff for this safety, however, is that the return on fixed annuities is somewhat low.

These types of annuities will offer their holders a fixed income stream – and, for those who choose the lifetime income option, they can offer a guaranteed income for the remainder of the individual’s life, no matter how long they live. This can be a great way to ensure that a retiree does not outlive his or her assets – especially given that life expectancies are so much longer today than ever before.

Jackson National sells 5 different options:

  • MAX Family
  • BonusMAX
  • Action Family
  • SuperMAX Family
  • Immediate Annuity

Each of these is slightly different in how they operate and how they should be used. Some of them are for longer investments, while others are more of a short-term investment.

They also sell some fixed index annuities as well. Fixed indexed options offer stable returns without the risk of other investments.

Variable Annuities

A variable annuity works like a contract between an individual or business and an insurance company, under the terms of the contract insurance company will make periodic payments to the annuity investor, beginning either immediately or at some future date.

Variable annuities are also considered to be tax-deferred investments, meaning that the contract owner pays no taxes on the income and investment gains from the variable annuity until they withdraw the money.

Variable annuities provide the opportunity for market appreciation through a number of different investment options. They also provide for the tax-deferred accumulation of funds, and future income. Variable annuities offer numerous benefits including, tax-deferred growth, the opportunity for market appreciation, liquidity, benefits to spouses, and benefits to heirs.

Variable annuities may also have an optional life insurance provider that offers a death benefit.
If the annuity contract owner passes away prior to the time that the insurance company has begun making income payments to the annuitant, then a named beneficiary will be guaranteed to receive at least a specified amount of money, which is generally the amount of the purchase payments, or the total amount of the premiums that were deposited.

Variable annuities are designed for people who may be willing to take more risk with their investment in return for more growth potential. Historically, variable annuities have offered better returns than fixed rate annuities. However, it is important to keep in mind the added risk associated with this product.

With Jackson National, they have four variable annuities options:

  • Elite Access
  • Elite Access Advisory
  • Perspective II
  • Perspective Advisory

The Elite Access, Perspective II, and the Perspective Advisory allow people who are older to invest in an annuity. The Elite Access allows anyone who is up to 85 to invest. The Perspective Advisory has a limit of 85 as well, and the Perspective II has a higher limit of 90-years-old.

Each of these annuities has different advantages and limits. If you’re looking for annuities, then Jackson National can be an excellent start to your search.

Fixed Index Annuities

Jackson National also offers Fixed Index Annuities. A Fixed Index Annuity is a great option if you want steady growth without having to risk it all on the fluctuations of the market.

With Jackson National, they have four fixed index annuities options:

  • AscenderPlus Select
  • Elite Choice
  • Elite Choice Rewards
  • Select Annual Reset

The AscenderPlus Select option includes all classic annuity options such as fixed annuity benefits and a death benefit. In addition, this annuity also offers an optional income rider which can be attached for a charge.

Elite Choice offers additional interest linked to a single index. Elite Choice Rewards is a step up from the Elite Choice and offers regular 2.5% or 5% increases to the value of your annuity.
The Select Annual Reset is created to build a retirement fund linked to one of two indexes.

How Does Jackson National Compare?

How does Jackson National Insurance compare to other popular insurance companies? Check out this table where we compare Allstate, Have Life and Met Life.

Company Best For J.D. Power Score A.M. Best Rating
Jackson National Claims Paid N/A A
Haven Life Quick Coverage 751 A++
Met Life Variety of Policies 744 A+

While all three of these companies are very compatible, it is important to note that Haven Life offers only term life insurance.

For more information, you can check out the individual reviews of Haven Life and Met Life.

History Of Jackson National Life Insurance

Jackson National Life Insurance Company has been in business since 1961. The company is headquartered in Lansing, Michigan, and it was named after President Andrew Jackson, the seventh president of the United States. The firm primarily offers retirement annuities and investments.

Just twenty years after opening its doors, the company went from $50 million to more than $160 million in just annuity sales, and by 1989, its sales exceeded $2 billion. In 1998, National Planning Holdings, Inc. (NPH) was formed, and that same year, Jackson National Life Insurance Company of New York was opened, which expanded Jackson National’s sales and distribution to all 50 of the U.S. states.

The company has continued to expand throughout the years, and in 2003, it launched Curian Capital, LLC, a separately managed accounts provider. Just two years later, in 2005, the firm acquired Life Insurance Company of Georgia, which essentially doubled the company’s policy count to approximately 3 million.

Summary

Wanting to jump-start the application process? Our quote calculator is geared to find the best result for you. It’s quick, simple, and you can do it from the comfort of your own chair. To commence you need to complete the form on the right side of our website.

Should you discover that you have any additional questions as you move through the process regarding Jackson National Life Insurance Company – then you have come to the right place. Our advisors are here to serve you and can answer the questions and concerns that you may have.

We can also show you how the quoting process works, and give more focus on the details such as what type of life insurance policy is right for you, how much death benefit coverage you need for your survivors and their needs, and which of the many available life insurance carriers will be able to serve you best.

There are so many details to keep track of and the application can get tiring. That is why we got into the insurance business. We love helping people figure out the best way to protect their families.

About the Author

Jeff Rose, CFP®

Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur.

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