Life insurance is an important component of any good financial plan. Choosing a company like Jackson National Life Insurance can help you 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 | 44,080,473,401 |
| 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 |
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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 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:
| Rating Agency | Financial Strength Rating | Description |
|---|---|---|
| A.M. Best | A (Excellent) | Third Highest Out of 13 Rating Categories |
| Fitch Ratings | A (Strong) | Sixth Highest Out of 19 Rating Categories |
| Standard & Poor’s | A (Strong) | Sixth Highest Out of 20 Rating Categories |
| Moody’s Investors Service | A2 (Good) | Moody’s Rating for Financial Strength |
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 of fixed annuities is the safety of the principal that they allow their owners – along with the satisfaction of 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:
- Jackson RateProtector
- 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 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:
The Elite Access, Perspective II, and 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:
- MarketProtector®
- MarketProtector Advisory®
- MarketProtector® III
- MarketProtector Advisory® III
The MarketProtector® is an annuity product crafted to safeguard one’s retirement investments from market volatility. It allows clients to grow their funds while ensuring that they have a safety net against unforeseen financial downturns. It’s an excellent choice for individuals who wish to maintain a balance between risk and security in their retirement portfolios.
Expanding on the foundation of the MarketProtector®, the Advisory version is specifically designed for clients who work with financial advisors. This product provides all the benefits of the standard MarketProtector® but is structured to accommodate the advisory fee model. It offers more hands-on management of one’s annuity, giving clients the peace of mind that comes with professional oversight.
Building on the success of its predecessor, the MarketProtector® III offers enhanced features and benefits. While it retains the primary function of protecting retirement assets from market downturns, it brings in refined strategies and options for investment. This product is designed for the evolving needs of the modern investor, taking into account the changing financial landscape and the complexities it brings.
Pairing the advancements of the MarketProtector® III with the advisory model, this product is the pinnacle of Jackson’s commitment to combining investment growth with security. It allows for a more tailored approach to annuity management, ensuring that clients’ funds are not only safeguarded but are also optimized for growth under the guidance of financial professionals.
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 | 775 | A++ |
| Met Life | Variety of Policies | 786 | 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 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 and 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.
How We Review Insurance Companies:
Good Financial Cents systematically reviews U.S. insurance companies, emphasizing policy offerings, customer experiences, and overall reliability. Our goal is to present a balanced and comprehensive perspective to potential policyholders. Editorial transparency remains a cornerstone of our approach.
We actively collect information from insurance companies and place significant weight on customer feedback. By integrating this feedback with our research, we can offer a well-rounded evaluation. Each company is then rated based on multiple criteria, resulting in a star rating from one to five.
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Product Name: Jackson National Product Description: Jackson National, often referred to simply as "Jackson", specializes in annuities and retirement-focused investment solutions. They offer a range of products designed to help individuals secure their financial futures, including fixed, variable, and fixed index annuities. Their suite of products is crafted to cater to a diverse set of retirement and investment needs. Summary of Jackson National Jackson National stands out in the financial industry with its dedication to delivering retirement solutions that resonate with modern-day financial challenges. They understand that the road to retirement is filled with uncertainties, and their array of annuities is designed to provide stability, growth, and peace of mind. Beyond annuities, Jackson also offers a range of investment and advisory products, ensuring that their clients have comprehensive tools and resources to build and safeguard their nest eggs. Their commitment to financial education and customer service further enhances their product offerings, making them a trusted choice for many investors. Pros Cons
Jackson National Review
Overall
The reason that they are so financially sound is because they do everything that they can to keep from paying legitimate claims. When my mother died I eventually had to file a complaint with the State Insurance Commissioner to get her claim paid. She died in an accident which means that her policy should have paid double. But since her original policy had been lost and all I had was a lost policy certificate, they claimed something different and only paid us the face amount *$1000) It would have costed me well over the other thounsand to file suit against them and they knew that. A BUNCH OF CROOKS.
need 10k worth of term life insurance
72 year old male – good health
How much is a paid up policy worth?