Jackson National Life Insurance Co. has introduced a flexible, premium-deferred fixed and variable annuity.
The product in the Perspective L Series has a four-year withdrawal charge period and offers more than 50 investment choices from 15 money managers, the company said on Monday. It also features an improved version of LifeGuard 5, Jackson National's guaranteed-minimum withdrawal benefit. LifeGuard 5 lets investors get a guaranteed lifetime income stream through systematic withdrawals equal to 5% of the amount invested without having to annuitize the contract, even if the contract value reaches zero.
Perspective L Series is Jackson National's second variable annuity launched this quarter. In January, it introduced Perspective Advisors II, a fixed and variable annuity contract that offers investors no withdrawal charge and a modular design letting investors choose and pay for only those features and benefits apropos to their financial situations.
With more than $61 billion of assets under management, Jackson National offers fixed, fixed index, and variable annuities. It markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, financial institutions, and independent insurance agents.
