Jackson National Life Insurance Company ® (Jackson) today launched MarketGuard Stretch, a new option for policyholders of the Perspective family of variable annuities. MarketGuard Stretch is a guaranteed minimum withdrawal benefit (GMWB) that allows beneficiaries the flexibility to spread distribution payments over their lifetime, keeping more money in a tax-deferred account for continued growth potential. With MarketGuard Stretch, Jackson aims to assist contract owners with legacy planning – policyholders can provide for potentially young and inexperienced beneficiaries by avoiding a lump sum death benefit in favor of longer-term distributions. The beneficiary’s required minimum distributions (RMD) will be determined annually based on the current account value and life expectancy. “MarketGuard Stretch is the first stretch-friendly GMWB in the industry, allowing us to enhance the value proposition of variable annuities and expand Jackson’s relevance to a wider market,” said Clifford Jack, head of retail for Jackson. “Jackson remains dedicated to providing customizable withdrawal benefits that meet the needs of financial advisers and enable them to find the right solutions for their clients.” MarketGuard Stretch provides contract owners with a higher level of control over beneficiaries’ distributions, allowing wealth to be spread to future generations. The withdrawal benefit can also help guarantee return of premium on a stretch contract over a number of years, regardless of investment performance. Policyholders can take up to 5.5 percent of their protected balance each year, or their stretch RMD, if higher, depending on their age at the time of the first withdrawal. The options allow for distribution of the original investment amount without risking an excess withdrawal. In some circumstances, remainder beneficiaries may also elect to continue the MarketGuard Stretch benefit, guaranteeing they will receive at least the remaining protected balance back while remaining in a tax-deferred contract. Contract owners can choose from more than 25 money managers and can invest in customized portfolios based on their individual goals and risk tolerance.
“MarketGuard Stretch brings a number of advantages to variable annuity policyholders and a new level of flexibility that hasn’t been available before,” said Alison Reed, senior vice president of Product and Investment Management. “The new policy gives us the opportunity to provide beneficiaries – who may be unfamiliar with the complexities of investing – with an approach to planning that can help ensure their long-term financial health.”MarketGuard Stretch is the latest in a series of products and services designed to help advisers create customized retirement income solutions on behalf of their clients. In March 2011, Jackson introduced the Portfolio Construction Tool, an interactive online solution that helps advisers build customized investment portfolios based on the individual needs and objectives of their clients. In October 2010, Jackson introduced LifeGuard Freedom Flex, the industry’s first customizable GMWB. Advisers who wish to learn more about Jackson, the support offered by the company’s wholesaling and marketing teams, or the optional features and benefits available within Jackson’s variable annuity products, can contact Jackson at 800/711-JNLD (5653) or visit www.jackson.com. About Jackson National Life Insurance Company With $120 billion in assets (IFRS)*, Jackson National Life Insurance Company (Jackson) is a leading provider of retirement solutions. The company sells variable, fixed and fixed index annuities, life insurance and institutional products. Through its affiliates and subsidiaries, Jackson also provides asset management and retail brokerage services. Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, wirehouses, financial institutions and independent insurance agents. Jackson’s subsidiary, Jackson National Life Insurance Company of New York®, similarly markets products in the state of New York. For more information, visit www.jackson.com . *Jackson has $120 billion in total IFRS assets and $109 billion in IFRS policy liabilities primarily set aside to pay future policyowner benefits (as of 12/31/11). Annuities and life insurance products are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) (VA410, VA610, VA620, VA640) and in New York annuities are issued by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York) (VA440NY, VA610NY, VA620NY, VA640NY). Variable products are distributed by Jackson National Life Distributors LLC. May not be available in all states and state variations may apply. These contracts have limitations and restrictions, including possible withdrawal charges, recapture charges and excess interest adjustments. Contact your representative or the Company for more information. Jackson is the marketing name for Jackson National Life Insurance Company and Jackson National Life Insurance Company of New York.
Variable annuities involve investment risks and may lose value. Earnings are taxable as ordinary income when distributed and if withdrawn before age 59 1/2, may be subject to a 10% federal tax. Optional benefit costs are added in addition to the ongoing fees and expenses of the variable annuity. Guarantees are backed by the claims-paying ability of Jackson National Life Insurance Company or Jackson National Life Insurance Company of New York. Tax deferral offers no additional value if an annuity is used to fund a qualified plan such as a 401(k) or an IRA.Jackson National Life Insurance Company is an indirect subsidiary of Prudential plc, a company incorporated and with its principal place of business in the United Kingdom. Prudential plc and its affiliated companies constitute one of the world's leading financial service groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for over 160 years and had $545 billion in assets under management as of December 31, 2011. 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.