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Jackson(SM) Enhances Variable Annuity Offering with LifeGuard Freedom DB(SM).

New GMWB Combines Guaranteed Income with Innovative Death Benefit Option

LANSING, Mich. -- Jackson National Life Insurance Company([R]) (Jackson) today announced the launch of LifeGuard Freedom DB, a new guaranteed minimum withdrawal benefit (GMWB) that features an enhanced, innovative death benefit option. Available only with the election of Jackson's LifeGuard Freedom(SM) GMWB, LifeGuard Freedom DB allows investors to generate lifetime income while also providing a legacy for their heirs. The death benefit amount will not decrease, provided withdrawals do not exceed the guaranteed annual limit or minimum required distribution, and investors can choose how to best distribute their wealth among beneficiaries.1

"Today's retirement landscape is extremely complex, and the challenges Boomers are facing as they shift into the income distribution phase have been exacerbated by the troubled economy," said Clifford Jack, executive vice president and chief executive officer for Jackson. "Insurance companies have an unprecedented opportunity to help investors determine the best path to achieving their retirement goals. Jackson is committed to providing innovative solutions that can be customized according to each individual's objectives, coupled with value-added wholesaling support to help advisers effectively address the retirement needs of their clients."

LifeGuard Freedom DB offers the same features as LifeGuard Freedom, including the ability to establish a guaranteed lifetime withdrawal stream of up to 7 percent2, with a 7-percent benefit increase each year for at least the first 10 years of the contract, when no withdrawals are taken in that year.2 LifeGuard Freedom and LifeGuard Freedom DB are both available for an additional cost within the company's Perspective(SM) family of variable annuities, as well as its Retirement Latitudes(SM) variable annuity.

Jackson has also extended the bonus period for its LifeGuard Freedom optional living benefits, providing the potential for a bonus period of greater than 10 years.3 Additionally, LifeGuard Freedom now offers a 200-percent guaranteed withdrawal benefit adjustment for premiums received prior to the first contract anniversary4, as well as a provision that provides contract holders with an opportunity to increase their guaranteed annual withdrawal percentages as they get older and potentially need additional income.5

In addition to updating its living benefits, Jackson has made several enhancements to its optional death benefits, including:

* Highest quarterly anniversary value death benefit option replaces the annual step-up option previously offered on the company's death benefits;

* New 6-percent Roll-up death benefit and 6-percent Combination Roll-up and Highest Quarterly Anniversary Value death benefit options; and

* Potential dollar-for-dollar withdrawal treatments for the roll-up components of Jackson's 5- and 6-percent optional death benefits.

Finally, Jackson has removed the 300-percent cap on its FutureGuard(SM) 6 guaranteed minimum income benefit (GMIB) base, giving pre-retirees a greater opportunity to capture growth in their investments. The company also added two new money managers and six new portfolios to its investment lineup.

"Jackson's product development initiatives are driven primarily by the input we receive from our adviser partners, who help us gain a better understanding of the constantly evolving needs of today's investors," said Steve Kluever, senior vice president of product and investment management for Jackson National Life Distributors LLC. "We use that valuable insight to develop benefits and features that address a broad range of investor concerns and provide a diverse set of options from which advisers can build customized solutions for their clients. The latest enhancements to our variable annuity offering are part of Jackson's ongoing commitment to developing innovative products that allow Jackson to improve its competitive position in the market. The new features can help clients address wealth accumulation, wealth distribution and wealth transfer needs."

Advisers who wish to learn more about Jackson, the support offered by the company's wholesaling team, or the optional features and benefits available within Jackson's variable annuity products, can contact Jackson at 800/711-JNLD (5653) or visit

Variable annuities involve investment risks and may lose value. A variable annuity is a long-term, tax-deferred investment vehicle designed for retirement. An annuity's earnings are taxable as ordinary income when distributed and, if taken before age 59 1/2, may be subject to a 10% federal tax penalty.

About Jackson National Life Insurance Company

With more than $82 billion in assets (GAAP unaudited)(a), Jackson National Life Insurance Company (Jackson), located in Lansing, Michigan, is an industry leader in variable, fixed and fixed index annuities. The company also offers life insurance and institutional products. Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, financial institutions and independent insurance agents. Jackson's subsidiary, Jackson National Life Insurance Company of New York([R]), similarly markets products in the state of New York. Through its affiliates and subsidiaries, Jackson also provides asset management, retail mutual funds and retail brokerage services. Variable products are distributed by Jackson National Life Distributors LLC. For more information, visit

(a)Jackson also has $74.6 billion (GAAP unaudited) in policy liabilities, which is the amount set aside to pay primarily future policyholder benefits as of 6/30/08.

1. LifeGuard Freedom and LifeGuard Freedom DB are available on both qualified and non-qualified contracts. At election, the owner (or older joint owner) must be between ages 45 and 80 for LifeGuard Freedom and 45-75 for LifeGuard Freedom DB. All withdrawals, including systematic withdrawals, RMDs and free withdrawals, apply to the total amount withdrawn in a contract year. The "For-Life" guarantee is limited to the duration of the contract owner's life, or with joint owners, the duration of the joint owner's life who dies first. If Lifeguard Freedom DB is elected, the GMWB death benefit will apply as long as the contract value is greater than zero.

2. On the contract anniversary on or immediately following the owner's (older owner if joint owners is selected) attained age 5912, the For-Life guarantee becomes effective provided: 1) the contract value is greater than zero and 2) the contract has not been annuitized. If the owner (older owner if joint owners is selected) is age 5912 on the effective date of the endorsement, then the For-Life guarantee becomes effective on that date. If the For-Life guarantee becomes effective after the GAWA percentage is determined, the GAWA is reset to equal the GAWA percentage multiplied by the current GWB. For LifeGuard Freedom, the For-Life guarantee is terminated when the GMWB is terminated or if the GMWB endorsement is continued under Spousal Continuation. All withdrawals reduce the GWB and, depending on the amount of withdrawals taken, adjusted for any GWB step-ups and any applicable benefit increases, the GAWA may be reset to a lower amount when the For-Life guarantee becomes effective. Each contract anniversary you will receive the greater of the 7% annual benefit increase if applicable or the highest adjusted quarterly value lock in. This amount is applied to the Guaranteed Withdrawal Balance and not the contract value. The 7% benefit increase is only applied during the benefit increase period.

3. At election, the Benefit Increase Base (BIB) is equal to the Guaranteed Withdrawal Balance (GWB). At step-up (if the GWB increases upon step-up), the BIB is set equal to the greater of the GWB following the step-up or the BIB prior to the step-up. If a partial withdrawal made during the contract year exceeds the greater of the GAWA or the RMD, the BIB is set to the lesser of the GWB following the partial withdrawal or the BIB prior to the partial withdrawal; otherwise, no adjustment is made. The BIB is increased by the amount of any subsequent premium payments less any applicable taxes. The Benefit Increase Period begins on the effective date of the benefit and is reset at the time of a step-up of the Benefit Increase Base if the step-up occurs on or before the contract anniversary immediately following the owner's (or older joint owner's) 80th birthday. The Benefit Increase Period ends on the earlier of (a) the 10th contract anniversary following the effective date of the benefit or the most recent Benefit Increase Base step-up, if later, or (b) the date on which the contract value falls to zero. Each time the Benefit Increase is applied, the GWB equals the GWB prior to application of the Benefit Increase plus 7% of the BIB, subject to a maximum of $5 million. The GAWA is recalculated and is equal to the greater of the GAWA percentage multiplied by the new GWB or the GAWA prior to the benefit increase.

4. If no withdrawals are taken on or prior to the GWB Adjustment date, the owner is eligible for the GWB Adjustment. The GWB Adjustment date is the later of a) the contract anniversary on or immediately following the owner's (or oldest joint owner, youngest Covered Life if joint option is elected) 70th birthday, or b) the 10th contract anniversary following the effective date of the endorsement. At election, the GWB Adjustment will be equal to 200% of the GWB subject to a $5 million maximum. No adjustment is made to the GWB Adjustment upon step-up or for a benefit increase. Premium paid after electing LifeGuard Freedom or LifeGuard Freedom DB, but before the first contract anniversary following the effective date of the benefit, will increase the GWB Adjustment by 200% of the premium payment net of any applicable premium taxes. Premium paid on or after the first contract anniversary following the effective date of the benefit will increase the GWB Adjustment by the amount of the premium payment less any applicable premium taxes. Upon application of the GWB Adjustment, no adjustment will be made to the GMWB Death Benefit or the BIB.

5. The Benefit Determination Baseline (BDB) is the value used to determine whether the GAWA% will increase upon step-up. If a step-up occurs and the highest Quarterly Contract Value is greater than the BDB prior to the step-up, the BDB is set equal to the highest Quarterly Contract Value. If the step-up occurs after the GAWA% is determined, the GAWA% is re-determined based on the attained age of the Owner (if there are Joint Owners, it will be based on the attained age of the oldest Joint Owner).

LifeGuard Freedom, LifeGuard Freedom DB and optional death benefits are available for an additional cost and once elected may not be cancelled. Optional benefits may not be available on all of Jackson's variable annuity products, and may not be available in all states. State variations may apply. The long-term advantage of the optional benefits will vary with the terms of the benefit option, the investment performance of the variable investment options you select and the length of time you own the annuity. As a result, in some circumstances, the cost of an option may exceed the actual benefit paid under the option. See the prospectus for more details.

The Perspective Family of Variable Annuities (VA210, VA220, VA250, VA410) and Jackson's Retirement Latitudes Product (VA 310) are issued by Jackson National Life Insurance Company, Lansing, MI, and distributed by Jackson National Life Distributors LLC, member FINRA. May not be available in all states and state variations may apply. The products have limitations and restrictions, including possible withdrawal charges, recapture charges, and excess interest adjustments. Please contact the Company for more information.

Guarantees are backed by the claims-paying ability of Jackson National Life Insurance Company and do not apply to the principal amount or investment performance of the separate account or its underlying investments.

Before investing, investors should consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
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Publication:Business Wire
Date:Oct 6, 2008
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