Jackson Refines Perspective Variable Annuity Benefit Suite

Flex Suite offers a simplified way to achieve income growth and protection

LANSING, Mich.–(BUSINESS WIRE)– Jackson National Life Insurance Company^® (Jackson^®), the main operating subsidiary of Jackson Financial Inc.¹ (NYSE: JXN), today announced the launch of Flex Suite, a streamlined and simplified menu of add-on living benefits available within the Perspective family of variable annuity products. Flex Suite includes 14 options of add-on living benefits. Each of these options reflects the most utilized features or enhancements to the features previously available through the former LifeGuard Suite of living benefits. Each option in the Flex Suite is a continuation of Jackson’s focus on clients’ specific retirement needs identified through the financial planning process, enabling financial professionals to recommend the guaranteed income² benefit that best suits clients’ needs and is in their best interest.

“Our competitive variable annuity products continue to be a key differentiator for Jackson, and we remain committed to our core value proposition of offering investment freedom so clients can invest without restrictions,” said Brian Sward, Head of Product Solutions for Jackson National Life Distributors LLC (JNLD), Jackson’s marketing and distribution business. “Flex Suite’s refined benefits menu enables financial professionals and their clients to more easily navigate our living benefit options, while emphasizing how guaranteed lifetime income can help address two critical retirement objectives — asset growth and protection against unpredictable market events.”

The Flex Suite offers the following features:

• Choice of income options: The breadth of guaranteed income options — each with various withdrawal rates and costs — are customized to meet clients’ unique retirement goals.
• Step-ups³: Clients who are focused on growth can take advantage of step-ups designed to automatically lock in any gains and grow the guaranteed withdrawal balance (GWB) when the market is up.
• Roll-ups: Roll-ups (annual bonus) may be applied when the market is flat or down, enabling the GWB to grow by a certain percentage. Roll-ups also “stack” and can be added onto previous market-based step-ups, if any.
• New benefit: The innovative Flex Strategic Income benefit helps clients who need more income early in retirement, looking to bridge the income gap that may need to be filled upon leaving the workforce. This new benefit also offers a unique feature that guarantees higher withdrawal rates for a defined period of time, enabling clients to better plan for retirement income by adding further protection against potential market volatility early in retirement.
• Competitive cost⁴: To remain competitive, Jackson has lowered the charges on select benefits as part of the Flex Suite updates. Additionally, through recent rate sheet changes, Jackson has streamlined the process for adjusting product costs, enabling more efficient updates.
• Legacy control: Flex DB offers a built-in death benefit that provides income and enables clients to leave behind an enhanced legacy for their loved ones.
• User-friendly microsite: Detailed product literature pertaining to the Flex Suite features, including roll-up and step-up options and costs, can be found on the newly launched Perspective Family microsite.

“Jackson understands the importance of providing flexible products that address each client’s unique needs, varying market outlooks and individual lifestyles,” continued Sward. “At their foundation, add-on living benefits can offer clients steady income and the opportunity to grow that income. Through Flex Suite, financial professionals are better able to personalize the retirement planning experience and provide customized investment advice to clients based on their distinct situation. Flex Suite enables clients to receive guaranteed lifetime income by selecting the benefit option that is in their best interest.”

Financial professionals who would like to learn more about the Flex Suite can contact the company at 1-800-711-7397, connect with their local wholesaler or visit the Perspective Family microsite.

About Jackson

Jackson^® (NYSE: JXN) is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Through our range of annuity products, financial know-how, history of award-winning service* and streamlined experiences, we strive to reduce the confusion that complicates retirement planning. We take a balanced, long-term approach to responsibly serving all our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community partners. We believe by providing clarity for all today, we can help drive better outcomes for tomorrow. For more information, visit www.jackson.com.

*SQM (Service Quality Measurement Group) Contact Center Awards Program for 2004 and 2006-2022, for the financial services industry (To achieve world-class certification, 80% or more of call-center customers surveyed must have rated their experience as very satisfied, the highest rating possible).

1 Jackson Financial Inc. is a U.S. holding company and the direct parent of Jackson Holdings LLC (JHLLC). The wholly-owned direct and indirect subsidiaries of JHLLC include Jackson National Life Insurance Company, Brooke Life Insurance Company, PPM America, Inc. and Jackson National Asset Management, LLC.

2 Lifetime income of the add-on lifetime benefits becomes effective at issue if the designated life is age 59½ at issue, or upon the contract anniversary following designated life’s 59½ birthday, provided the contract value is greater than zero and has not been annuitized.

3 Step-ups and the annual bonus (Roll-up) are applied on an annual basis, if applicable, to your protected balance, not the contract value, and you receive the greater of the two, not both. Once elected, the bonus (Roll-up) and income options you choose cannot be canceled or changed.

4 Add-on benefits are available for an extra charge in addition to the ongoing fees and expenses of the variable annuity. There is no guarantee that a variable annuity with an add-on living benefit will provide sufficient supplemental retirement income.