Jackson National Life Insurance Review
Jackson National no longer sells life insurance. Instead, the company focuses on annuities designed to help you invest in your retirement.
Annuities are a great way to supplement your life insurance policy. So even if its life insurance you’re specifically shopping for, you may want to consider adding some annuities to your portfolio.
If you’re shopping for life insurance coverage, you can call today to chat with a licensed agent who can help you compare free quotes, including coverage amounts, monthly premiums and more. You can also request a free quote online.
About Jackson National Life Insurance
Jackson National Life Insurance was founded in 1961 and is based in Lansing, MI. Jackson National Life Insurance is the official name of the company, but the organization goes by simply “Jackson” in its marketing and advertising efforts.
What Kind of Products Does Jackson Sell?
Jackson sells three types of annuities: fixed, fixed index and variable.
Jackson Fixed Annuities
A fixed annuity is a contract that guarantees a fixed rate of interest on your contributions over a predetermined period. Fixed annuities have a lower level of risk but also a lower ceiling of reward and are designed as a conservative investment.
Jackson Fixed Index Annuities
Fixed index annuities are tied to a stock market index such as the S&P 500 or the Dow. The interest paid out on these investments mirrors the performance of the index they are tied to. Fixed index annuities are ideal for long-term investments and portfolio diversity.
Jackson Variable Annuities
The interest rate of a variable annuity is tied to an investment portfolio and pays based on performance. Variable annuities can offer strong tax-deferred growth but also carry more risk than other types of annuities.
Does Jackson Sell Any Riders for its Annuities?
One area where annuities are like life insurance policies is that both offer riders. Riders are optional add-ons that can supplement a life insurance policy or annuity to address a certain need or circumstance.
Jackson sells two types of riders: a death benefit rider and a living benefit rider. The death benefit rider provides a payout to a beneficiary of you die, which serves much the same purpose as a life insurance policy.
The living benefit rider makes guaranteed payouts while you are still living and is available only on the variable annuity option.
How Much Do Jackson’s Annuities Cost?
Jackson does not provide quotes for its annuities online, nor can you purchase one online. You must purchase through an agent or other financial professional who is licensed to sell Jackson’s products.
Is Jackson National Life Insurance a Reputable Company?
While Jackson no longer sells life insurance, the company is still scored by the National Association of Insurance Commissioners’ Complaint Index Report, where it reports fewer customer complaints than the industry average.
In addition, Jackson was recognized with four awards for excellence in contact center service in 2021, including the Highest Customer Service distinction.
Jackson National Life Insurance has a B- rating with the Better Business Bureau.
Does Jackson National Have Strong Financial Strength Ratings?
Jackson National Life Insurance has solid financial ratings that include an A (Strong) from both Fitch Ratings and S&P Global, an A (Excellent) from AM Best and an A2 (Good) from Moody’s.
Is Jackson National a Good Life Insurance Company?
Jackson National Life Insurance won’t be right for you if it’s a life insurance policy you’re looking for. However, Jackson’s annuities are a great way to supplement a life insurance policy and diversify your investments.
If it’s life insurance you’re looking for, contact a licensed insurance agent today to learn about available policies in your area.