- 93 Companies reviewed
- 50 Features considered
- 4,650 Data points analyzed
We collected 4,650 data points from 93 life insurance companies to measure financial stability, customer satisfaction, product and feature variety, and the overall buying experience. We then evaluated each company based on 50 metrics to develop unbiased, comprehensive reviews.
Jackson National Life Insurance Company is a well-known player in the life insurance industry. The company offers a range of life insurance and annuity products to help individuals and families plan for their financial futures. If you’re considering purchasing life insurance, you may be wondering if Jackson National Life is the right choice for you.
Join us as we provide a comprehensive review of Jackson National Life Insurance Company, including its pros and cons, company overview, and key takeaways. We’ll also explore the different types of life insurance and annuity products offered by the company, as well as their fees, maximum issue ages, and withdrawal charges. By the end of this article, you’ll have a better understanding of whether Jackson National Life Insurance Company is the right choice for you and your family.
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Overview of Jackson National Life Insurance
Jackson National Life Insurance is a Fortune 500 company that specializes in offering a range of financial products, including annuities and life insurance. The company was founded in 1961 and is headquartered in Lansing, Michigan.
History of Jackson National Life Insurance
Jackson National Life Insurance was founded in 1961 as a subsidiary of Jackson National Corporation. The company initially focused on offering fixed annuities, but it has since expanded to offer a range of insurance products, including variable annuities and life insurance.
Products Offered by Jackson National Life Insurance
Jackson National Life Insurance offers a range of insurance and financial products, including:
- Fixed annuities
- Variable annuities
- Registered index-linked annuities
- Life insurance
The company’s annuities are designed to provide investors with a range of options for investing in their retirement. Fixed annuities offer a guaranteed rate of return, while variable annuities allow investors to choose from a range of investment options. Registered index-linked annuities offer investors the opportunity to participate in the stock market while also providing downside protection.
Financial Strength Ratings of Jackson National Life Insurance
Jackson National Life Insurance has consistently received high financial strength ratings from independent rating agencies. The company has an A+ rating from A.M. Best and an AA rating from Standard & Poor’s.
In conclusion, Jackson National Life Insurance is a reputable company that offers a range of financial products, including annuities and life insurance. The company has a strong financial strength rating and has been in business for over 60 years.
Jackson National Life Insurance Reviews
When looking for a life insurance provider, it’s important to read reviews and complaints from other customers to get a better understanding of the company’s reputation and customer service. Here are some of the most important things to know about Jackson National Life Insurance based on customer reviews and complaints:
Customer Reviews of Jackson National Life Insurance
While Jackson National Life Insurance may not be one of the top-rated life insurance companies, it still has a relatively positive reputation among customers. Many customers praise the company for its competitive rates, flexible policy options, and helpful customer service. Some customers also appreciate the fact that Jackson National Life Insurance offers a wide range of annuity options for retirement planning.
However, some customers have reported issues with the company’s claims process, citing long wait times and difficulty getting in touch with customer service representatives. Some customers have also reported issues with the company’s website and online account management tools.
Complaints Against Jackson National Life Insurance
As with any insurance company, Jackson National Life Insurance has received its fair share of complaints from customers. The most common complaints include issues with the claims process, billing and payment issues, and problems with customer service.
However, it’s worth noting that Jackson National Life Insurance has a relatively low complaint index compared to other insurance companies. This means that the company receives fewer complaints relative to its size and customer base.
Complaint Index of Jackson National Life Insurance
According to data from the National Association of Insurance Commissioners, Jackson National Life Insurance has a complaint index of 0.26. This means that the company received 26% fewer complaints than the industry average in 2020.
While this is a positive sign, it’s important to keep in mind that the complaint index is just one metric to consider when evaluating an insurance company. It’s still important to read reviews and complaints from other customers to get a better understanding of the company’s strengths and weaknesses.
Overall, Jackson National Life Insurance has a relatively positive reputation among customers, with many praising the company’s competitive rates, flexible policy options, and helpful customer service. However, some customers have reported issues with the claims process and customer service, and it’s important to read reviews and complaints from other customers to get a better understanding of the company’s reputation.
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Annuity Products Offered by Jackson National Life Insurance
Jackson National Life Insurance Company offers a variety of annuity products to help individuals plan for their retirement savings and income needs. Here’s a breakdown of the different types of annuities that Jackson National offers:
Fixed Annuities
Fixed annuities are a type of annuity that offer a fixed interest rate for a set period of time. With a fixed annuity, you can guarantee a minimum rate of return on your investment, and you won’t be subject to market fluctuations. Jackson National offers fixed annuities with a range of interest rates and guarantee periods.
Variable Annuities
Variable annuities allow you to invest your savings in a variety of investment options, such as mutual funds, stocks, and bonds. With a variable annuity, your investment returns are tied to the performance of these underlying investments, which means that your returns can fluctuate based on market conditions. Jackson National offers variable annuities with a range of investment options and features, such as living benefit riders and death benefit riders.
Fixed Index Annuities
Fixed index annuities are a type of annuity that offer a fixed interest rate that is tied to the performance of a stock market index, such as the S&P 500. With a fixed index annuity, you can participate in the potential gains of the stock market while also protecting your principal investment from market losses. Jackson National offers fixed index annuities with a range of index options and guarantee periods.
Living Benefit Riders
Living benefit riders are optional features that you can add to your annuity contract to provide additional income and protection. Jackson National offers a variety of living benefit riders, such as guaranteed minimum withdrawal benefits, guaranteed lifetime withdrawal benefits, and guaranteed minimum income benefits.
Death Benefit Riders
Death benefit riders are optional features that you can add to your annuity contract to provide a death benefit to your beneficiaries. Jackson National offers a variety of death benefit riders, such as return of premium death benefits and stepped-up death benefits.
Withdrawal Fees
Jackson National charges withdrawal fees for certain annuity products. These fees can vary depending on the product and the length of time that you’ve held the annuity. It’s important to understand the withdrawal fees associated with your annuity before you make any withdrawals.
Investment Options
Jackson National offers a variety of investment options for their variable annuities and fixed index annuities. These options include mutual funds, stocks, bonds, and index funds. It’s important to review the investment options available to you and choose the ones that align with your investment goals and risk tolerance.
Guaranteed Income
Jackson National offers a variety of living benefit riders that can provide you with a guaranteed income stream in retirement. These riders can help protect you from market downturns and provide you with a stable source of income throughout your retirement years.
Add-On Benefits
Jackson National offers a variety of add-on benefits that you can add to your annuity contract to provide additional protection and income. These benefits include living benefit riders, death benefit riders, and long-term care riders.
Pros and Cons of Jackson National Annuities
Here are some pros and cons to consider when evaluating Jackson National annuities:
Pros
- Wide range of annuity products to choose from
- Variety of investment options available
- Living benefit riders can provide guaranteed income and protection
- Death benefit riders can provide a death benefit to your beneficiaries
- Fixed index annuities can offer market participation with principal protection
Cons
- Some annuity products have high fees and expenses
- Withdrawal fees may apply
- Investment options may be limited for certain products
- Annuities may not be suitable for all investors
Overall, Jackson National Life Insurance Company offers a variety of annuity products that can help individuals plan for their retirement savings and income needs. It’s important to review the different types of annuities available, as well as the fees, investment options, and add-on benefits, to determine which product is right for you.
Life Insurance Products Offered by Jackson National Life Insurance
Jackson National Life Insurance offers a range of annuity products designed to help you invest in your retirement. While the company no longer sells life insurance, it provides a variety of annuities that can be used to supplement your life insurance policy.
Term Life Insurance
Jackson National Life Insurance does not offer term life insurance products. Instead, the company focuses on annuities that can help you save for retirement.
Whole Life Insurance
Jackson National Life Insurance does not offer whole life insurance products. Instead, the company provides a range of annuities that can help you grow your savings tax-deferred.
Permanent Life Insurance
Jackson National Life Insurance does not offer permanent life insurance products. However, the company’s annuity products can provide a source of tax-deferred growth for your retirement savings.
Tax-Deferred Growth
Jackson National Life Insurance’s annuity products offer tax-deferred growth, which means you won’t have to pay taxes on your earnings until you withdraw them. This can help your retirement savings grow more quickly.
Cash Value
While Jackson National Life Insurance does not offer life insurance products, its annuity products can provide a source of cash value that you can use in retirement.
Estate Planning
Jackson National Life Insurance’s annuity products can be a valuable tool for estate planning, complementing Allstate life coverage options by allowing you to pass on your assets to your heirs more efficiently.
Unique Features of Jackson National Life Insurance
Jackson National Life Insurance’s annuity products offer a range of unique features, including online education tools and multiple annuity options, including fixed, variable, and fixed index annuities. Additionally, the company has a strong financial rating and is available in all 50 states.
Overall, while Jackson National Life Insurance does not offer life insurance products, its annuity products can be a valuable addition to your retirement planning strategy, providing tax-deferred growth and a source of cash value.
Jackson National Life Insurance Company Information
Location of Jackson National Life Insurance
Jackson National Life Insurance Company is headquartered in Lansing, Michigan, USA. The company has several offices across the United States, including in Chicago, Denver, Nashville, and Tampa.
Contact Information for Jackson National Life Insurance
For general inquiries, you can contact Jackson National Life Insurance Company via phone at 1-800-565-9044. The company’s customer service representatives are available Monday through Friday from 8:00 am to 7:00 pm EST. You can also reach out to the company via email at [email protected].
Financial Ratings of Jackson National Life Insurance
Jackson National Life Insurance Company has received high financial ratings from several independent rating agencies. AM Best has given the company an A+ (Superior) rating, while Fitch Ratings has given it an AA- (Very Strong) rating. These ratings indicate that the company is financially stable and has a strong ability to meet its financial obligations.
In conclusion, Jackson National Life Insurance Company is an established life insurance provider with a strong financial rating. The company has several offices across the United States, and customers can easily contact the company via phone or email.
