Flex Suite offers a simplified way to achieve
income growth and protection
Jackson National Life Insurance Company® (Jackson®), the main
operating subsidiary of Jackson Financial Inc.1 (NYSE: JXN), today
announced the launch of Flex Suite, a streamlined and simplified
menu of add-on living benefits available within the Perspective
family of variable annuity products. Flex Suite includes 14 options
of add-on living benefits. Each of these options reflects the most
utilized features or enhancements to the features previously
available through the former LifeGuard Suite of living benefits.
Each option in the Flex Suite is a continuation of Jackson’s focus
on clients’ specific retirement needs identified through the
financial planning process, enabling financial professionals to
recommend the guaranteed income2 benefit that best suits clients’
needs and is in their best interest.
“Our competitive variable annuity products continue to be a key
differentiator for Jackson, and we remain committed to our core
value proposition of offering investment freedom so clients can
invest without restrictions,” said Brian Sward, Head of Product
Solutions for Jackson National Life Distributors LLC (JNLD),
Jackson’s marketing and distribution business. “Flex Suite’s
refined benefits menu enables financial professionals and their
clients to more easily navigate our living benefit options, while
emphasizing how guaranteed lifetime income can help address two
critical retirement objectives — asset growth and protection
against unpredictable market events.”
The Flex Suite offers the following features:
- Choice of income options: The breadth of guaranteed
income options — each with various withdrawal rates and costs — are
customized to meet clients’ unique retirement goals.
- Step-ups3: Clients who are focused on growth can take
advantage of step-ups designed to automatically lock in any gains
and grow the guaranteed withdrawal balance (GWB) when the market is
up.
- Roll-ups: Roll-ups (annual bonus) may be applied when
the market is flat or down, enabling the GWB to grow by a certain
percentage. Roll-ups also “stack” and can be added onto previous
market-based step-ups, if any.
- New benefit: The innovative Flex Strategic Income
benefit helps clients who need more income early in retirement,
looking to bridge the income gap that may need to be filled upon
leaving the workforce. This new benefit also offers a unique
feature that guarantees higher withdrawal rates for a defined
period of time, enabling clients to better plan for retirement
income by adding further protection against potential market
volatility early in retirement.
- Competitive cost4: To remain competitive, Jackson has
lowered the charges on select benefits as part of the Flex Suite
updates. Additionally, through recent rate sheet changes, Jackson
has streamlined the process for adjusting product costs, enabling
more efficient updates.
- Legacy control: Flex DB offers a built-in death benefit
that provides income and enables clients to leave behind an
enhanced legacy for their loved ones.
- User-friendly microsite: Detailed product literature
pertaining to the Flex Suite features, including roll-up and
step-up options and costs, can be found on the newly launched
Perspective Family microsite.
“Jackson understands the importance of providing flexible
products that address each client’s unique needs, varying market
outlooks and individual lifestyles,” continued Sward. “At their
foundation, add-on living benefits can offer clients steady income
and the opportunity to grow that income. Through Flex Suite,
financial professionals are better able to personalize the
retirement planning experience and provide customized investment
advice to clients based on their distinct situation. Flex Suite
enables clients to receive guaranteed lifetime income by selecting
the benefit option that is in their best interest.”
Financial professionals who would like to learn more about the
Flex Suite can contact the company at 1-800-711-7397, connect with
their local wholesaler or visit the Perspective Family
microsite.
ABOUT JACKSON
Jackson® (NYSE: JXN) is committed to helping clarify the
complexity of retirement planning—for financial professionals and
their clients. Through our range of annuity products, financial
know-how, history of award-winning service* and streamlined
experiences, we strive to reduce the confusion that complicates
retirement planning. We take a balanced, long-term approach to
responsibly serving all our stakeholders, including customers,
shareholders, distribution partners, employees, regulators and
community partners. We believe by providing clarity for all today,
we can help drive better outcomes for tomorrow. For more
information, visit www.jackson.com.
*SQM (Service Quality Measurement Group) Contact Center Awards
Program for 2004 and 2006-2022, for the financial services industry
(To achieve world-class certification, 80% or more of call-center
customers surveyed must have rated their experience as very
satisfied, the highest rating possible).
Jackson® is the marketing name for Jackson Financial Inc.,
Jackson National Life Insurance Company® (Home Office: Lansing,
Michigan) and Jackson National Life Insurance Company of New York®
(Home Office: Purchase, New York).
SAFE HARBOR STATEMENT
The information in this press release contains forward-looking
statements about future events and circumstances and their effects
upon revenues, expenses and business opportunities. Generally
speaking, any statement in this release not based upon historical
fact is a forward-looking statement. Forward-looking statements can
also be identified by the use of forward-looking or conditional
words, such as “could,” “should,” “can,” “continue,” “estimate,”
“forecast,” “intend,” “look,” “may,” “will,” “expect,” “believe,”
“anticipate,” “plan,” “remain,” “confident” and “commit” or similar
expressions. In particular, statements regarding plans, strategies,
prospects, targets and expectations regarding the business and
industry are forward-looking statements. They reflect expectations,
are not guarantees of performance and speak only as of the dates
the statements are made. We caution investors that these
forward-looking statements are subject to known and unknown risks
and uncertainties that may cause actual results to differ
materially from those projected, expressed, or implied. Factors
that could cause actual results to differ materially from those in
the forward-looking statements include those reflected in the
Company’s reports filed with the U.S. Securities and Exchange
Commission. Except as required by law, Jackson Financial Inc. does
not undertake to update such forward-looking statements. You should
not rely unduly on forward-looking statements.
Before investing, investors should carefully consider the
investment objectives, risks, charges, and expenses of the variable
annuity and its underlying investment options. The current contract
prospectus and underlying fund prospectuses provide this and other
important information. Please contact your financial professional
or the Company to obtain the prospectuses. Please read the
prospectuses carefully before investing or sending money.
Jackson, its distributors, and their respective
representatives do not provide tax, accounting, or legal advice.
Any tax statements contained herein were not intended or written to
be used and cannot be used for the purpose of avoiding U.S.
federal, state, or local tax penalties. Tax laws are complicated
and subject to change. Tax results may depend on each taxpayer’s
individual set of facts and circumstances. You should rely on your
own independent advisor as to any tax, accounting, or legal
statements made herein.
Variable annuities are long-term, tax-deferred investments
designed for retirement, involve investment risks, and may lose
value. Earnings are taxable as ordinary income when distributed.
Individuals may be subject to a 10% additional tax if withdrawn
before age 59½ unless an exception to the tax is met.
The latest income date allowed on variable annuity contracts is
age 95, which is the required age to annuitize or to take a lump
sum. If the guaranteed minimum death benefit value is greater than
your contract value following mandatory annuitization at age 95,
that difference will be locked in as a guaranteed death benefit.
Please see the prospectus for important information regarding the
annuitization of a contract.
In certain states, we reserve the right to refuse any subsequent
premium payments.
Guarantees are backed by the claims-paying ability of Jackson
National Life Insurance Company or Jackson National Life Insurance
Company of New York and do not apply to the principal amount or
investment performance of a variable annuity’s separate account or
its underlying investments. They are not backed by the
broker/dealer from which this annuity contract is purchased, by the
insurance agency from which this annuity contract is purchased or
any affiliates of those entities, and none makes any
representations or guarantees regarding the claims-paying ability
of Jackson National Life Insurance Company or Jackson National Life
Insurance Company of New York.
The long-term advantage of add-on benefits will vary with the
terms of the benefit option, the investment performance of the
Variable Investment Options selected, and the length of time the
annuity is owned. As a result, in some circumstances, the cost of
an option may exceed the actual benefit paid under that option.
Add-on death benefits are terminated if the contract value falls to
zero and upon spousal continuation.
Variable annuities (VA775, VA775-CB1, ICC18 VA775, ICC18
VA775-CB1, VA775-RLC, ICC18 VA775-RLC, VA790, VA790-FB1, ICC17
VA790, ICC17 VA790-FB1, VA710, VA710-CB1, ICC19 VA710, ICC19
VA710-CB1, VA720, VA720-CB1, ICC19 VA720, ICC19 VA720-CB1) are
issued by Jackson National Life Insurance Company (Home Office:
Lansing, Michigan) and in New York (VA775NY, VA775NY-CB1, VA790NY,
VA790NY-FB1, VA710NY, VA710NY-CB1, VA720NY, VA720NY-CB1) by Jackson
National Life Insurance Company of New York (Home Office: Purchase,
New York). Variable Annuities are distributed by Jackson National
Life Distributors LLC, member FINRA. These contracts have
limitations and restrictions. Jackson issues other annuities with
similar features, benefits, limitations, and charges. Discuss them
with your financial professional or contact Jackson for more
information.
Firm and state variations may apply. Additionally, products
not available in all states.
1 Jackson Financial Inc. is a U.S. holding company and the
direct parent of Jackson Holdings LLC (JHLLC). The wholly-owned
direct and indirect subsidiaries of JHLLC include Jackson National
Life Insurance Company, Brooke Life Insurance Company, PPM America,
Inc. and Jackson National Asset Management, LLC.
2 Lifetime income of the add-on lifetime benefits becomes
effective at issue if the designated life is age 59½ at issue, or
upon the contract anniversary following designated life’s 59½
birthday, provided the contract value is greater than zero and has
not been annuitized.
3 Step-ups and the annual bonus (Roll-up) are applied on an
annual basis, if applicable, to your protected balance, not the
contract value, and you receive the greater of the two, not both.
Once elected, the bonus (Roll-up) and income options you choose
cannot be canceled or changed.
4 Add-on benefits are available for an extra charge in addition
to the ongoing fees and expenses of the variable annuity. There is
no guarantee that a variable annuity with an add-on living benefit
will provide sufficient supplemental retirement income.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230828109681/en/
Courtney Roberts courtney.roberts@jackson.com
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