Jackson National Life Insurance Review

Jackson National Life Insurance is a Michigan-based insurance company founded in 1961.

It specializes in fixed and variable annuities to help Americans save for retirement.

Jackson is a reputable company with a strong financial rating and a low complaint ratio.

Jackson National Life Insurance Company Headquarters – Lansing
Jackson National Life Insurance Company Headquarters – Lansing

Pros:

  • Multiple annuity options, including fixed, fixed index, and variable annuities
  • Online education tools are available to help you learn about annuities and retirement planning
  • Annuities can provide a guaranteed income stream in retirement

Cons:

  • Financial professionals and agents have an incentive to sell you annuities, so it’s important to do your own research and compare different products before you buy
  • Life insurance products are not available
  • Annuities cannot be purchased online

Available Plans

Jackson offers a wide range of annuity products to meet the needs of different investors.

Here is a brief overview of the three main types of annuities:

  • Fixed annuities: Fixed annuities offer a guaranteed interest rate on your contributions. This makes them a good option for conservative investors who are looking for a steady stream of income in retirement.
  • Fixed index annuities: Fixed index annuities offer the potential for higher returns than fixed annuities, but they also come with more risk. The return on a fixed index annuity is linked to the performance of a stock market index, but there is a guaranteed minimum return.
  • Variable annuities: Variable annuities are the riskiest type of annuity, but they also offer the potential for the highest returns. The return on a variable annuity is linked to the performance of an investment portfolio.

Available Riders

Jackson offers a variety of riders that can be added to your annuity contract to customize your coverage.

Some common riders include:

  • Death benefit rider: This rider provides a payout to your beneficiaries if you die.
  • Living benefit rider: This rider provides guaranteed payments to you while you are still alive.
  • Guaranteed income rider: This rider guarantees that you will receive a certain amount of income each month in retirement.

Customer Service

Jackson offers customer support by phone and email.

You can also use the company’s website to access online resources and tools.

Contact Information Details
Phone 800-956-6550
Email [email protected]
Social Media
– Facebook Jackson National on Facebook
– Twitter Jackson National on Twitter
– LinkedIn Jackson National on LinkedIn
Fax 517-381-5501
Headquarters
– Address Jackson National Life Insurance Company
1 Corporate Way
Lansing, MI 48951

Complaint Index

Jackson has a low complaint ratio, which means that it receives fewer complaints than expected for a company of its size.

Third-Party Ratings

Jackson has an excellent financial rating from AM Best. It was also ranked eighth in the 2021 J.D. Power U.S. Individual Annuity Study.

Cancellation Policy

Jackson’s annuities have a 10-day free look period.

During this time, you can cancel your contract without penalty.

After the free-look period expires, you may be subject to surrender fees if you cancel your contract.

Price

Quotes for Jackson’s annuities are not available online.

You must contact an insurance agent or broker to get a quote.

Competition

Jackson’s main competitors include other annuity providers such as TIAA, Fidelity, and Vanguard.

Verdict

Jackson is a reputable annuity provider with a wide range of products to choose from.

However, it’s important to do your own research and compare different products before you buy.

You should also be aware that annuities are complex financial products, and they may not be suitable for everyone.

Additional Information

Here are some additional things to consider when choosing an annuity:

  • Fees: Annuities can come with a variety of fees, such as surrender fees, administrative fees, and mortality and expense risk charges. Be sure to compare the fees charged by different providers before you buy.
  • Investment options: Variable annuities offer a wide range of investment options. Be sure to choose an investment portfolio that is appropriate for your risk tolerance and investment goals.
  • Tax implications: Annuities have complex tax implications. Be sure to consult with a tax advisor before you buy an annuity.

Overall, Jackson is a good option for investors who are looking for a guaranteed income stream in retirement.

However, it’s important to do your own research and compare different products before you buy.

FAQS

What types of annuities does Jackson National Life Insurance offer?

Jackson offers a wide range of annuity products, including fixed, fixed index, and variable annuities.

What is the difference between fixed, fixed index, and variable annuities?

  • Fixed annuities: Fixed annuities offer a guaranteed interest rate on your contributions.
  • Fixed index annuities: Fixed index annuities offer the potential for higher returns than fixed annuities, but they also come with more risk. The return on a fixed index annuity is linked to the performance of a stock market index, but there is a guaranteed minimum return.
  • Variable annuities: Variable annuities are the riskiest type of annuity, but they also offer the potential for the highest returns. The return on a variable annuity is linked to the performance of an investment portfolio.

What riders does Jackson National Life Insurance offer?

Jackson offers a variety of riders that can be added to your annuity contract to customize your coverage. Some common riders include:

  • Death benefit rider
  • Living benefit rider
  • Guaranteed income rider

What is Jackson National Life Insurance’s financial rating?

Jackson has an excellent financial rating from AM Best.

What is Jackson National Life Insurance’s complaint ratio?

Jackson has a low complaint ratio, which means that it receives fewer complaints than expected for a company of its size.

How do I get a quote for a Jackson National Life Insurance annuity?

You must contact an insurance agent or broker to get a quote for a Jackson annuity.

Can I purchase a Jackson National Life Insurance annuity online?

No, you cannot purchase a Jackson annuity online.

You must contact an insurance agent or broker to purchase an annuity.

What is Jackson National Life Insurance’s cancellation policy?

Jackson’s annuities have a 10-day free-look period.

During this time, you can cancel your contract without penalty.

After the free-look period expires, you may be subject to surrender fees if you cancel your contract.

What are the fees associated with Jackson National Life Insurance annuities?

Annuities can come with a variety of fees, such as surrender fees, administrative fees, and mortality and expense risk charges.

Be sure to compare the fees charged by different providers before you buy.

What are the tax implications of Jackson National Life Insurance annuities?

Annuities have complex tax implications. Be sure to consult with a tax advisor before you buy an annuity.

Spread the love