Jackson National Life Insurance

Best Current Annuity Product Rates from Jackson National

Ratings and Reviews

Jackson National — whose history dates back to 1961 — is a strong and financially secure company. It holds A ratings from all major rating agencies and boasts a history of stability.

Jackson National’s Credit Ratings

Rating Company	Credit Rating
AM Best	A
Fitch	A
S&P	A

While Jackson National checks many of the boxes that customers consider when looking for an annuity provider, it does somewhat falter when it comes to customer satisfaction.

Jackson National’s score in the 2022 J.D. Power Overall Customer Satisfaction Index Ranking fell just below the industry average and well below that of some key competitors.

What is more concerning is that its score worsened in 2023. It received one of the worst ratings for annuities among companies considered by J.D. Power.

But the J.D. Power score isn’t the only metric that matters and Jackson National has received better marks from others. 

For example, the Service Quality Measurement Group recognized the company in 2022 for excellence in contact center service. 

The National Association of Insurance Commissioners (NAIC) tracks the consumer complaints that each state’s insurance commission receives yearly. These are used to compile a company’s NAIC Complaint IndexNAIC Complaint IndexDetermined by dividing the company’s share of complaints in the U.S. market by the company’s share of premiums in the U.S. market. The National Complaint Index is always 1.00, so a score of 2.00, for example, is twice as high as expected in the market..

Jackson National received a score of 0.43, meaning it received fewer customer complaints than expected, given its market share.

NAIC Complaint Index for Jackson National

All Policy Types	0.11
Individual Annuities Only	0.43

Products Offered by Jackson National

Jackson National’s annuities are divided into four categories: fixed, fixed index, variable and RILA.

The company offers a range of annuity products, whereas other providers may focus on just a few types.

Variable Annuities

Jackson National offers access to several different types of variable annuities. Its primary offerings are part of the Perspective family, including the Perspective II and Perspective Advisor II.

The Perspective II — available with a core contract charge of 1.3% — includes over 100 different investment options and automatic rebalancing.

It is based on a seven-year surrender schedule and includes industry-standard benefits such as extended care and terminal illness waivers. You can also withdraw up to 10% of the contract value without penalty.

Jackson National also offers the Elite Access II, which has a five-year surrender schedule and a slightly slower core contract charge of 1%.

Additional annuities of this type are available, including the Elite Access Advisory II.

Annuity Features	Perspective II	Elite Access II
Withdrawal Charges	Seven years starting at 8.5%	Five years starting at 6.5%
Core Contract Charge	1.3%	1%
Investment Options	More than 100	More than 100
Minimum Initial Premium	$10,000 for nonqualified and $5,000 for qualified	$5,000 for nonqualified and $2,000 for qualified

Fixed Index Annuities

Jackson National’s fixed index annuity is called MarketProtector and it is a heavily customizable product.

MarketProtector Indexed Option Periods

• Five Years
• Seven Years
• 10 Years

In addition to offering several different indexed option periods, the annuity provides access to six different crediting strategies.

Point-to-point cap and point-to-point performance trigger options are available. You can also add a lifetime income benefit to your annuity for a fee that ranges from 1.1% to 1.25%.

Fixed Annuities

Regarding fixed annuities, Jackson National sells both a MYGA and an immediate annuity.

The MYGA is called Jackson RateProtector and is available for three, five or seven years. This product offers higher interest crediting to premiums of $100,000 or more and includes standard benefits like extended care and terminal illness riders.

Jackson National will customize an immediate annuity to your liking. Payments are available on various schedules; periods can last from five to 60 years, and you can choose from any combination of life or period certain choices.

You can also tack on an income escalator to help spread your money to combat inflation better.

RILAs

RILAs are only sometimes available through annuity providers, but Jackson National advertises four different versions.

Its base offering is the Jackson Market Link Pro II, available on a six-year surrender period with a $25,000 minimum.

It offers several index options along with multiple crediting methods. You can set buffers and floors that best fit your situation, and terminal illness and extended care riders are automatically included.

Other RILAs sold by Jackson National include the Jackson Market Link Pro, the Jackson Market Link Pro Advisory and Jackson Market Link Pro Advisory II.

Jackson National Pros & Cons

The pros may outweigh the cons when considering purchasing an annuity with Jackson National.

Pros

The company is a giant in the annuity space, selling more than most of its competitors — and there’s a reason for that. While some providers may only offer one or two excellent products, Jackson National sells a variety of annuities.

It is also remarkably upfront about its products. All the information you may want about a given annuity is readily available online — not just through an agent.

And to top that off, Jackson National is a financially secure company.

Cons

There are some drawbacks to be aware of regarding customer service. Jackson National’s NAIC Complaint Index Score is solid, but J.D. Power studies in back-to-back years have unearthed concerns regarding overall customer satisfaction.

Every customer’s experience is different, but that may be a drawback to some potential buyers.

About Jackson National

Jackson National Life was founded in 1961 before it was bought out by Prudential in 1986.

However, it has since become a separate company after the two entities went through a demerging process in 2021.

While Jackson National now stands independently, it is a solid and stable company.

It beat out most of its competitors in direct annuity premiums sold in 2022 with over $14 billion total and holds strong financial strength ratings from every credit rating agency. According to LIMRA, it was also the top-selling retail annuity company in eight of the last nine years.

It is one of the largest and most stable providers active in the annuity market.

Provider Rating Methodology

Annuity.org created a fact-based methodology to analyze the strength, security and reach of different annuity providers. We assessed companies based on their availability, the amount of direct premiums sold, their AM Best Financial Strength Rating and their NAIC Complaint Index score.

Providers received a rating on a five-star scale for each of these categories, with the complaint index and financial strength ratings weighed as the heaviest variables. Then, using a weighted average, each company was assigned an overall star rating.

Annuity.org’s Top-Ranked Providers

Provider	Annuity.org Star Rating
Mass Mutual
New York Life
Pacific Life
Midland National
North American
Western Southern