Jackson National Life Insurance Company® (Jackson®) today announced the launch of Elite Access (EA) Advisory II, a fee-based investment only variable annuity (IOVA) with no mortality, expense and administration (M&E&A) charge. EA Advisory II is designed to enhance traditional investing with expertly-constructed portfolios, diverse investment options and tax advantages.
Greg Cicotte, president and chief executive officer of Jackson National Life Distributors LLC (JNLD), the sales and marketing arm of Jackson, said expanding the company’s distribution efforts, along with honoring its commitment to investment freedom, remain key priorities in 2019.
“As we start the new year, enhancing our product suite with Elite Access Advisory II provides greater choice and opportunity for our advisor partners and the clients they serve, particularly as they face an increasingly volatile investing environment,” Cicotte said. “Consumers face a long list of considerations when choosing to invest their money — including balancing market instability, interest rate uncertainty and tax burdens. This new IOVA is designed to address many of those challenges, empowering advisors to help their clients prepare for all market conditions as they seek new growth opportunities.”
EA Advisory II’s key features include:
- Product cost: Monthly contract charge of $20 per month ($240 per year). There is no mortality, expense and administration charge, although the underlying investment subaccounts carry annual operating expenses.
- No withdrawal charge: There is no surrender period and zero withdrawal charges1.
- Compensation structure: Advisor compensation is fee-based, rather than commission-based.
- Investment freedom: More than 130 investment options are available2, offering access to world-class money managers and the flexibility to design a portfolio that meets consumers’ unique investing needs.
To further support its distribution efforts, Jackson recently announced a new partnership with Envestnet — a significant relationship that will provide more access to products that can help Americans pursue financial freedom for life.
“Jackson is assuming a leadership role as our industry works to educate investors, simplify our products and clarify the language we use to describe them,” said Scott Romine, president of advisory solutions for JNLD. “To coincide with these efforts, the products we provide must integrate seamlessly into our advisors’ platforms, regardless of their business model. Through fee-based offerings, such as Elite Access Advisory II, technology innovation and ongoing educational resources, we’re continuing to enhance our relationships and capabilities in the advisory space.”
Jackson is committed to providing education, service support and digital tools to increase the ease of doing business through a new product offering. Financial professionals who would like to learn more about EA Advisory II can contact Jackson at 800-711-JNLD (5653) or visit www.jackson.com.
Jackson is a leading provider of retirement products for industry professionals and their clients. The company and its affiliates offer variable, fixed and fixed index annuities designed for tax-efficient growth and distribution of retirement income for retail customers, as well as products for institutional investors. Jackson is a proud founding member and co-chair of the Alliance for Lifetime Income, a nonprofit 501(c)(6) organization formed and supported by 24 of the nation’s financial services organizations to create awareness and educate Americans about the importance of protected lifetime income. With $264.9 billion in IFRS assets*, the company prides itself on sound corporate risk management practices and strategic technology initiatives. Focused on thought leadership and education, Jackson provides industry insights and financial representative training on retirement planning and alternative investment strategies. The company is also dedicated to corporate philanthropy and supports nonprofits focused on strengthening families and creating economic opportunities in the communities where its employees live and work. For more information, visit www.jackson.com.
*Jackson has $264.9 billion in total IFRS assets and $251.6 billion in IFRS policy liabilities set aside to pay primarily future policyowner benefits (as of June 30, 2018). International Financial Reporting Standards (IFRS) is a principles-based set of international accounting standards for reporting financial information. IFRS is issued by the International Accounting Standards Board in an effort to increase global comparability of financial statements and results. IFRS is used by Jackson's parent company.
Jackson is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc and its affiliated companies constitute one of the world's leading financial services groups, serving over 26 million customers with $877.2 billion in assets under management (as of June 30, 2018). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
This press release may contain certain statements that constitute “forward-looking statements.” Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management’s expectations, beliefs or projections will result or be achieved or accomplished. Any forward-looking statements reflect Jackson’s views and assumptions as of the date of this press release and Jackson disclaims any obligation to update forward-looking information.
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, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
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 and may be subject to a 10% additional tax if withdrawn before age 59½.
The latest income date allowed is age 95, which is the required age to annuitize or take a lump sum. 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.
Elite Access Advisory II (VA785, ICC18 VA785, VA785-FB1, ICC18 VA785-FB1) is issued by Jackson National Life Insurance Company® (Home Office: Lansing, Michigan). Variable annuities are distributed by Jackson National Life Distributors LLC, member FINRA. This product has limitations and restrictions. Jackson issues other variable annuities with similar features, benefits, limitations and charges. Contact Jackson for more information.
Jackson is the marketing name for Jackson National Life Insurance Company.
1 All or any portion of the contract may be withdrawn at any time prior to the Income Date. On contracts without a guaranteed minimum withdrawal benefit (GMWB), if the contract value remaining after withdrawal is less than $2,000, any withdrawal will be treated as a total withdrawal and the withdrawal value will be paid and the contract will terminate.
2 Select up to a maximum of 99 investments and adjust options or allocations up to 25 times each contract year without transfer fees. To prevent abusive trading practices, Jackson restricts the frequency of transfers among variable investment options, including trading out of and back into the same subaccount within a 15-day period.