Still Have a Jackson National Life Insurance Policy? Here’s What You Need to Know

If you still have a Jackson National life insurance policy, here’s what you need to know.

Jackson National is the 7th largest US life insurance company, ranked by total statutory assets, and financial strength ratings from the following:

• A.M. Best = A (Excellent – 3rd highest of 13)
• Fitch Ratings = A (Strong – 6th highest of 19)
• Standard & Poor’s = A (Strong – 6th highest of 20)
• Moody’s = A3 (Good – 7th highest of 21)

These ratings ( as of 02/2025) indicate Jackson National’s ability to meet its policyholder obligations.

Jackson National Life Insurance Company stopped offering new life insurance policies in 2012. But if you bought a Jackson policy before then—term or universal—you may still have options today.

This article breaks down those options, how conversions work, and what alternatives are available. We’ll also briefly cover Jackson’s current focus: annuities.

Although Jackson stopped selling life insurance in 2012, many policyholders still maintain active policies.

At the time Jackson was selling life insurance, its pricing was middle of the road—not bad, but not great. It was considered a preferred risk carrier, meaning it was not competitive for high-risk life insurance cases.

Here’s what you should know:

• Available Term Lengths: 10, 15, 20, and 30 years
• Riders:
  • Terminal Illness Accelerated Benefits
  • Child Rider
  • Conversion allowed but only to whole life insurance

Permanent life insurance is not available for new sales with Jackson. When it was available, Jackson offered:

• JNL Generations Universal Life
• Jackson Accumulator Universal Life

If you’re a current policyholder approaching a term conversion window, it’s worth reviewing your options with a broker, especially since the product landscape has changed significantly.

Today’s life insurance landscape has improved dramatically. If you’re healthy (even with minor medical conditions), you may qualify for fully underwritten coverage with better pricing and benefits.

Company	Type	Strengths
Banner Life	Term Life	Low cost
Protective Life	Term & Universal	Competitive with both
Pacific Life	Term & Universal	Competitive with both
Prudential	Term & Universal	Competitive and high-risk expertise

There’s no need to replace your Jackson policy if it still meets your needs, but if you know you will still need coverage when the existing Jackson policy ends, it may make sense to shop around now.

You’ll want to compare your policy’s current performance to what you expected when you bought it.

• Review Your Annual Statement – these are typically sent to you automatically.
• Request an in-force policy illustration each year. This tells you if the policy is performing as expected.

The in-force illustration is critical because it shows how closely your policy has performed over the years compared to what you expected when you bought it.

If it has not performed, we can compare other options. If it makes sense to switch companies, you can complete a tax-free 1035 exchange of the existing cash value to a new policy.

Many companies have great policies that may perform better than your existing policy, even though you are now older. Companies like:

• Corebridge Financial – Term and universal life insurance
• Lincoln National – Term and index universal life insurance
• Mass Mutual – Whole life insurance
• Guardian – Whole life insurance

Jackson’s annuity lineup is built around flexibility, growth potential, and protective features. Their Market Link Pro® suite of registered index-linked annuities (RILAs) is tailored to individuals planning for retirement who want upside potential with limited downside risk.

• Jackson Market Link Pro®
• Jackson Market Link Pro® Advisory
• Jackson Market Link Pro® II
• Jackson Market Link Pro® Advisory II

Each product provides growth linked to well-known indexes (S&P 500®, Russell 2000, MSCI EAFE, MSCI KLD 400 Social, and MSCI Emerging Markets) with built-in features to limit potential losses.

• Protection Options:
  • Buffer (protects against the first 10% or 20% of losses)
  • Floor (limits total losses to -10% in a down market)
• Crediting Methods:
  • Cap Rate – Growth up to a max cap
  • Performance Trigger – Guaranteed return if index is flat or positive
  • Performance Boost – Additional bonus on positive or neutral index returns
• Contract Terms: 1, 3, or 6 years
• Free Withdrawals: Up to 10% annually
• Minimum Investment: $25,000

• Income Living Benefit Rider – Provides guaranteed lifetime income for an additional fee
• Extended Care & Terminal Illness Waivers – Allow penalty-free withdrawals under qualifying health events
• Death Benefit: The greater of contract value or total premiums (adjusted for withdrawals) for owners age 0–75 (varies slightly by product version)

Jackson’s annuity products are competitively priced compared to other major annuity carriers. Fees vary depending on:

• Product type (e.g., Pro vs. Advisory)
• Contract features (e.g., performance boost, floor protection)
• Optional riders (e.g., +Income rider: 1.45% annual charge)

While annuities are more expensive than simple investment accounts, Jackson offers solid value in the RILA space for consumers focused on structured retirement income.

Since Jackson no longer offers life insurance, no medical underwriting is involved in its current annuity offerings.

Instead, annuity applicants undergo a suitability review, ensuring the product aligns with their financial profile and retirement goals. Advisors must assess the investor’s:

• Risk tolerance
• Investment objectives
• Age and time horizon
• Existing assets and income needs

Jackson’s annuity applications are generally processed through licensed financial professionals and can be submitted digitally or with paper forms. The process includes:

• Initial suitability screening
• Choice of index(es), term length, crediting method, and protection options
• Optional rider selection
• Funding via a single premium payment (minimum $25,000)

Once submitted, annuity contracts are typically issued within a few business days, provided all documentation is complete.

Jackson has a solid reputation for customer support, offering:

• U.S.-based phone support
• Online account access at jackson.com
• Prompt processing of withdrawals, RMDs, and death benefit claims

While online reviews are mixed (common across large financial companies), Jackson is generally praised for its financial strength and consistency.

There are plenty of life insurance companies out there that offer both life insurance and annuity solutions.

Like many companies that have stopped offering new life insurance sales, the conversion options get crushed as most companies in a similar situation offer an overpriced, underwhelming whole life policy.

If you have a Jackson policy, request your life insurance quote today to see how your policy compares to current options available.