This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jackson® Approaches Upper Range For 2012 Variable Annuity Premium

Jackson National Life Insurance Company ® (Jackson) announced today the company is approaching the upper range for calendar year 2012 for total premium from variable annuities (VAs) that offer optional guaranteed benefits. Jackson estimates it has approximately $1 billion in remaining capacity. As in prior years, Jackson will manage the volume of its VA business commensurate with the overall growth of its balance sheet.

“Jackson is enjoying another very successful year with strong sales volumes in variable annuities reflecting the quality of our product and service proposition,” said Mike Wells, Jackson president and chief executive officer. “While it is always a difficult decision to limit new business production in our highly productive growth and service culture, it is consistent with Jackson’s practice to actively manage our risk to avoid a concentration of exposure to any single product in any one year. Managing new business volumes within our pre-determined ranges ensures that our portfolio remains well-diversified by year of origination and, therefore, is well-positioned from a risk management perspective to continue performing across economic and market cycles. Jackson’s financial health remains strong and our portfolio of variable annuities is appropriately priced and hedged for the current economic climate, providing good value for our customers and shareholders.”

“Jackson remains fully committed to the variable annuity business,” Wells continued. “Our conservative approach to risk management will help us maintain the confidence, trust and credibility we have earned leading up to, and successfully managing through, the global financial crisis. Our sound financial discipline has been at the heart of our ability to forge strong, trusted ongoing business relationships, which will allow Jackson to continue delivering value to all of its stakeholders over the long term.”

To manage sales volumes, Jackson will no longer accept new 1035 exchange business or qualified transfers of assets for VAs that offer optional guaranteed benefits as of 4 p.m. Eastern Standard Time on Tuesday, November 13, 2012. As of December 15, 2012, Jackson will resume accepting new 1035 exchange business and qualified transfers of assets, if total premium at that time is within the $1 billion in remaining capacity. No limitation will be placed on new 1035 exchange business or qualified transfers of assets for Jackson’s Elite Access SM product, which offers “alternative” investment options that are not conducive to guaranteed benefits.

“We are proactively communicating with our distribution partners about Jackson approaching the high end of the range for 2012 sales of our very popular VAs that offer optional guaranteed benefits,” said Clifford Jack, executive vice president and head of retail for Jackson. “Our wholesaling and service teams are well-positioned to implement the necessary actions to limit production with minimal disruptions to our partners and their clients.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs