Sara Routhier, Managing Editor of Features and Outreach, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming worl...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jan 21, 2021

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The Brief

  • Jackson National Life Insurance Company does not offer life insurance policies. Instead, they sell annuities.
  • Their products consist of variable annuities, fixed index annuities, and fixed annuities that range in fees and initial investment amounts.
  • The Elite Access II variable annuity may be the best option for those on a budget since it offers the lowest initial premium.

During your search for life insurance, you may come across the Jackson National Life Insurance Company. But it wouldn’t surprise us if you’re a little confused to find they don’t have any life insurance information on their website.

In fact, the company doesn’t sell life insurance policies at all. In our Jackson National Life Insurance review, we’ll discuss the company, its products, rates, industry ratings, and more.

If you need help finding the right life insurance company for you, use our free quote comparison tool above by entering your ZIP code.

Who is Jackson National?

Jackson National was founded in 1961 and named after Andrew Jackson, seventh president of the United States. In 1998, National Planning Holdings, Inc. and Jackson National Life Insurance Company of New York were formed.

By 1989, the company had exceeded $2 billion in annuity sales. The company acquired Life Insurance Company of Georgia in 2005, which approximately doubled its number of policies.

Jackson National currently consists of Jackson National Life Insurance Company, Jackson National Life Insurance Company of New York, and Brooke Life Insurance Company.

They also own two subsidiaries: Curian Capital LLC and Jackson National Asset Management LLC.

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What products do they offer?

Even though the name indicates they are a life insurance company, Jackson National does not sell life insurance policies. Instead, they sell annuities.

An annuity is an investment that provides a stream of payments that is primarily used to supplement retirement income.

Jackson National offers variable annuities, fixed index annuities, and fixed annuities.

Variable Annuities

Variable annuities are tax-deferred and involve investment risks. You will have to pay tax when payments begin plus a 10 percent additional tax if you make withdrawals before age 59 and a half. You may add on living benefits to some plans for an additional charge.

Jackson National offers four different variable annuity plans: Elite Access II, Elite Access Advisory II, Perspective II, and Perspective Advisory II.

Elite Access II and Elite Access Advisory II are investment-only products. Elite Access Advisory II is fee-based and has a much higher minimum premium but no withdrawal charges or contract maintenance charges.

Perspective II and Perspective Advisory II offer investment and add-on options. Perspective Advisory II is fee-based and has a much higher minimum premium but has no withdrawal charges.

Fixed Index Annuities

A fixed index annuity is a long-term investment that is connected to the stock market and earns value based on the performance of the stock market.

Jackson National offers two fixed index annuity plans: MarketProtector and MarketProtector Advisory. Again, the MarketProtector Advisory is fee-based but has a much higher initial premium.

Fixed Annuities

Jackson National offers two different fixed annuities: Jackson RateProtector and Immediate Annuity. Both have a fixed interest rate, but the Immediate Annuity will begin making payments within one year of the initial premium.

How much are Jackson National annuities?

Jackson National Life Insurance rates will vary depending on the product. Let’s compare the products and their premiums and fees below.

Jackson National Life Insurance Company Annuity Premium and Fee Overview
Annuity TypePlan NameContract Maintenance ChargeCore Contract ChargeMinimum Initial PremiumMinimum Additional PremiumWithdrawal Charges
VariableElite Access II$50 annually ($30 in NY)1.00% (0.85% for contracts with $1 million quarterly anniversary values)$5,000 (nonqualified) or $2,000 (qualified)--Decreases from 6.5% to 3% over 5 years, then 0% after
VariableElite Access Advisory II--$20 per month$25,000$500 annually, or $50 per month for automatic paymentsNone
VariablePerspective II$35 annually1.30% (1.15% for contracts with $1 million quarterly anniversary values)$10,000 (nonqualified) or $5,000 (qualified)--Decreases from 8.5% to 2% over 7 years, then 0% after
VariablePerspective Advisory II$35 annually0.45% (0.40% for contracts with $1 million quarterly anniversary values)$25,000--None
Fixed IndexMarketProtectorUnknownUnknown$25,000$500None for withdrawals up to 10% of accumulated contract value each year; anything over 10% varies by years since initial premium and year options
Fixed IndexMarketProtector AdvisoryUnknownUnknown$25,000$500None for withdrawals up to 10% of accumulated contract value each year
FixedJackson RateProtectorUnknownUnknown$10,000--None for withdrawals up to 10% of accumulated contract value each year; anything over 10% varies by years since initial premium and year options
FixedImmediate AnnuityUnknownUnknownUnknownUnknownUnknown
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If you’re on a budget, the Elite Access II may be a good option to start with, since the initial investment only ranges from $2,000-$5,000. However, they also have the highest contract maintenance charges and median-level core contract charges, and withdrawal charges.

Are industry ratings and financial strength positive?

Jackson National is not accredited by the BBB. However, it does have an A+ rating. They only have 26 customer complaints listed on the BBB website, leaving them with a 1.11/5 star rating.

According to A.M. Best, Jackson National has a financial strength rating of A, meaning they have an excellent ability to meet their financial obligations.

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How can I get a quote and file a claim?

Since Jackson National’s products are not actual life insurance policies, you do not need to receive Jackson National life insurance quotes. You can use the contact information below to ask questions or proceed with your decision to buy Jackson National Life Insurance annuities.

You can, however, file claims with the company for various reasons, including to obtain death benefits or take advantage of add-on benefits. You can do this by logging onto your online account or searching for the correct forms on their website.

How can I contact Jackson National?

You can contact Jackson National through their website at www.jackson.com.

You can also call its contract information line at (877) 565-2968 or its contract owner line at (800) 644-4565.

The phone numbers for Jackson National Life Insurance Company of New York are:

  • (800) 599-5651 (for contract information or contract owners who purchased through a brokerage firm or broker-dealer)
  • (888) 464-7779 (for contract owners who purchased through savings, loan, or credit union)
  • (888) 965-6569 (for other contract owners)

Mail can be sent to Jackson (or Jackson of New York) , PO BOX 24068, Lansing, MI 48909 for existing customers. For new business, mail can be sent to Jackson, PO Box 30314, Lansing, MI 48909.

Contrary to the name of their company, Jackson National does not sell life insurance policies. Instead, they sell variable annuities, fixed index annuities, and fixed annuities that are most often used for supplemental retirement income.

They offer multiple contract plans under each type of annuity, so which one you purchase will most likely depend on your budget and add-on needs. The Elite Access II variable annuity plan offers the smallest initial premiums.

Jackson National has an A+ rating from the BBB and an A rating from A.M. Best, indicating that they have happy customers and excellent financial strength.

If you need help comparing life insurance quotes, enter your ZIP code into our free quote comparison tool below.