Jackson Enhances RILA Suite with Income Protected Lifetime Benefit

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Jackson National Life Insurance Company, a subsidiary of Jackson Financial, has introduced a new add-on benefit to its Market Link Pro suite of registered index-linked annuities (RILAs). Dubbed +Income, this feature offers clients guaranteed lifetime income for an additional charge, enhancing retirement planning options.

Brian Sward, Head of Product Solutions at Jackson National Life Distributors LLC (JNLD), highlighted the significance of RILAs in providing protection and growth opportunities for risk-averse consumers. He emphasized that +Income expands Jackson’s RILA offerings, providing clients with a reliable retirement income source capable of withstanding market uncertainties.

The Market Link Pro suite offers five index options and three crediting methods, allowing flexibility in fund allocation. Additionally, the suite includes built-in death benefits at no extra cost, facilitating legacy creation. Recent enhancements to the suite, announced in June 2023, include the addition of an exclusive crediting method (Performance Boost), 3-year Index Account Option Terms, and an intra-term Performance Lock feature.

Jackson’s commitment to digital innovation is evident through its RILA Digital Ecosystem, a comprehensive platform catering to financial professionals and clients. The ecosystem showcases the features of the Market Link Pro Suite, provides access to marketing literature and current rates, and offers a data-driven tool for generating customized RILA scenarios. With the launch of +Income, the tool now includes a new option to illustrate the impact of lifetime income on client portfolios, further enhancing its utility.