Jackson National Life Insurance Company, the main operating subsidiary of Jackson Financial Inc., has launched Jackson Market Link Pro III (JMLPIII) and Jackson Market Link Pro Advisory III (JMLPAIII).
“As the popularity of RILA products continues to increase, Jackson is excited to announce the latest enhancements to its suite of RILA offerings,” said Brian Sward, EVP, head of Product Solutions at Jackson National Life Distributors LLC (JNLD), the marketing and distribution business of Jackson. “The addition of the Nasdaq 100 index broadens our investment lineup and is a response to increased consumer interest in the tech sector, while the introduction of a 100% buffer allows full principal protection while maintaining the potential for equity-like returns. As interest in RILAs grow, Jackson will continue to seek new and innovative ways for financial professionals and their clients to access these products as they look to secure their financial future.”
JMLPIII and JMLPAIII enhancements include the following:
- Nasdaq 100 Added to Index Options: The new index option is now available along with the S&P 500, Russell 2000, MSCI EAFE and MSCI Emerging Markets. Jackson will not restrict which index options can be selected with each crediting method or protection option, allowing consumers to reallocate their assets without unwanted tax consequences and invest in what matters most to them.
- Full Principal Protection: Introducing a 100% Buffer3 protection option for the 1-year Cap4, 3-year Cap, 6-year Cap and 1-year Performance Trigger5 crediting methods, in addition to existing 10% and 20% options. Clients may also select a Floor6 protection option to help guard their retirement assets against unforeseen market changes. The level of protection depends on the crediting method selected.
In addition to these, Jackson’s RILA suite offers the following features:
- Flexible Index Account Option Terms: Jackson offers 1-year, 3-year and 6-year Index Account Option terms. Any gains or losses in the tracked index(es) (described above) are calculated at the end of the term, and the contract value is adjusted accordingly.
- Multiple Crediting Methods: Jackson offers crediting methods that allow consumers the ability to customize their contract both in terms of growth potential and protection level.
- Index Participation Rate on Cap Crediting Method: Jackson’s RILA suite features an Index Participation Rate to the Cap crediting method.
- Intra-Term Performance Lock Feature: The Performance Lock option provides transparency to contract holders, enabling them to lock in their interim value at any point during the Index Account Option term.
- Legacy and Cost Control: To help investors protect their retirement assets against market downturns while providing a legacy for beneficiaries.
Jackson also recently announced the following enhancements to its suite of variable annuities (VAs).
- Guaranteed Withdrawal Rates: Jackson has increased Single Life and Joint Life Guaranteed Annual Withdrawal Amount Percentages (GAWA%) across various living benefit options, including Flex Core, Flex Net Core, Flex DB Core, and Flex Plus.
Guaranteed Withdrawal Balance (GWB) Adjustments: Jackson has increased the GWB adjustment to 200% for its Flex Plus benefits. These updates apply to Perspective II, Perspective Advisory II, Jackson Advantage and Retirement Latitudes.