Jackson National Life Insurance Review [2023]

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Jackson National Life Insurance, a subsidiary of Prudential, is a leading annuity provider in the United States. Offering a sort of permanent life insurance, Jackson National serves as a great option for financial investments.

We get it, there are countless life insurance companies to choose from. We’ve worked to make matters easier by compiling the Jackson National Life Insurance reviews, ratings, and more.

Not sure if you’ll qualify for affordable Jackson National Life Insurance products? Thankfully, there are always other options. It’s important to do comparison shopping to find the best rates.

Who is Jackson National Life?

Jackson National Life is an annuities and investment company out of Lansing, Michigan. Jackson National is a subsidiary of the popular life insurance company, Prudential.

Despite being advertised as a life insurance company, Jackson National primarily offers an assortment of annuities. Annuities tend to rely more on cash value than a death benefit, and thus carry less risk for the insurer.

What does Jackson National Life do? Its website suggests they are experts in financial management. They can manage investments to promote financial growth through annuities, equity management, and even commercial real estate. To book an appointment with the company, you should get the free Jackson National life insurance forms online.

Jackson National life insurance company phone number for general information is : (517) 381-5500

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Is Jackson National Life Insurance a good company?

When talking about your finances, you want to be sure they’re in good hands. This Jackson National Life Insurance review will cover how strong the company is financially and with consumers.

Is Jackson National a Fortune 500 company? Well, not quite. That said, the company does have oversight from Prudential, which is a Fortune 500 company. This should add some comfort when looking to buy Jackson National Life Insurance products.

Are Jackson National consumer feedback and ratings positive?

Jackson National Life reviews need some improvement according to the Better Business Bureau. They currently hold a 1.11 out of 5 for their average review via the BBB. Most of the Jackson National Life Insurance complaints were about billing or issues with products/services.

The Jackson National Life Insurance Company complaint index, provided by the National Association of Insurance Commissioners (NAIC), showed the company has made few improvements to complaints over recent years.

The Jackson National Life Insurance Company A.M. Best ratings suggest that the company has a strong financial outlook. You always want to check life insurance company ratings. How does Jackson National compare to other companies?

You’ll notice the Jackson National Life Insurance ratings and reviews could use some improvement for customer satisfaction despite having high credit scores. Their J.D. Power score suggests they are right around the industry average.

What Jackson National Life Insurance products are there?

Jackson National Life Insurance doesn’t sell traditional term life insurance policies. Instead, they offer annuities that behave similarly to permanent life insurance.

Annuities and permanent life insurance are designed to build cash value that serves as an income source at some point, depending on your needs. Most annuity providers will have options that offer immediate or future income assistance.

Permanent insurance? Cash value? Annuity? We know there are a lot of life insurance terms out there. Our life insurance glossary might help if these are new terms to you.

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What annuity products are offered through Jackson National?

Jackson National Life offers a few different annuities. All its annuities will build cash value, but there are subtle differences that make each annuity slightly different, as shown below.

Fixed Annuity: Jackson National fixed annuities offer a consistent premium that also delivers a guaranteed and constant rate of return. This means you can anticipate a specific percentage of interest on your account each year.

Fixed annuities are predictable and easy to use. In most cases, the insurer will be responsible for choosing the investment sources to assure you get your guaranteed rate. There is little risk associated with fixed annuities.

Fixed Index Annuity: Jackson National fixed index annuities have some similarities to fixed annuities. The key difference with fixed index annuities is that they reach new milestones or increments each year.

This means that even without a guaranteed return, your account won’t be able to drop below your account balance from the beginning of the year. Since you will be more proactive with your investment sources, there is more risk than a fixed annuity.

An index basically provides a threshold that your account won’t go below again.

Variable Annuity: Jackson National variable annuities hold the most potential return but have the greatest risk. The policyholder will be responsible for the investment sources and how those sources perform.

If the market crashes as it did at the start of the COVID-19 crisis, your sources very well may have dwindled away. On the contrary, they may have boosted as the market was rejuvenated just a few months later.

A variable annuity through Jackson National Life might be best for an educated investor.

How much does Jackson National Life cost?

There is a large variance in the Jackson National Life Insurance rates since they aren’t traditional life insurance policies. What should I expect from the cost of investment? Since Jackson National relies on annuities, the cost is more about your initial investment.

Jackson National offers an assortment of annuities within each of the aforementioned categories. Of those, you could expect to invest as little as $2,000 and all the way up to $25,000 as an initial investment.

Some Jackson National annuities have minimum additional premiums and minimum terms. Their guaranteed interest rates were at 1.75% in 2019. They also offered first-year interest rates of up to 5.75% for a nine-year insurance contract.

How do I make claims with Jackson National Life Insurance?

The expense of an annuity might be your first concern, and rightfully so. What happens when it’s time for somebody to get your invested money? How are claims processed and how do I contact them?

Jackson National Life Insurance does have all of the claims forms you need on its website. You’ll need to weed through the large assortment of documents to find the one you need.

There are documents for claims on disabilities, death benefits, terminal illnesses, accelerated benefits, and more. Considering there are so many documents, it might be worthwhile to call the Jackson National life insurance customer service phone number listed in the overview atop the page.

If you are using your Jackson National annuity for a death benefit, you’ll want to be sure your beneficiaries are aware of the policy. Having information such as the account number is always helpful, too.

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What is the history of Jackson National Life Insurance?

Jackson National Life Insurance was founded in 1961 and admitted to the NAIC in 1976. They are currently a subsidiary of Prudential and are considered one of the largest life insurance providers in the United States.

The Jackson National Life Insurance market share for annuities was at 4.64% in 2019 and at 3.46% for life and annuities. Since the new millennium, Life Insurance Company of Georgia and Reassure America Life Insurance Company have both merged with Jackson National.

Who owns Jackson National Life Insurance? Since Prudential technically owns Jackson National, John F. Dryden might be considered the owner. Dryden is the founder of Prudential.

What are the pros and cons of Jackson National Life Insurance?

We’ve covered a substantial amount of information about Jackson National Life. Here, we’ll simplify the essentials for Jackson National.

Pros of Jackson National Life

• Strong financial ratings
• Market share leader for annuities
• Good investment options

Cons of Jackson National Life

• No term life insurance
• Require substantial first-time investments
• Could improve company reviews

Jackson National Life Insurance Company seems to be a better investment company than a true life insurance provider. This may or may not be the right fit for you.

Jackson National Life Insurance: What’s the bottom line?

Looking for cheap Jackson National Life Insurance quotes? You might have some trouble finding those. You will, however, be able to find a strong assortment of Jackson National annuities for immediate or future supplemental income.

It’s always good to find insurance companies with strong financial ratings. If you’re interested in finding options comparable to Jackson National Life Insurance, it’s a good idea to shop for multiple quotes. 

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