NU Online News Service, Jan. 18, 2005, 5:18 p.m. EST

A Lansing, Mich., insurer has launched a flexible version of an existing variable annuity contract.[@@]

The insurer, Jackson National Life Insurance Company, Lansing, Mich., says the new Perspective Advisors II product is a flexible premium deferred fixed and variable annuity that offers a menu of 50 investment options from 15 money managers and a choice of 3 guaranteed minimum withdrawal benefits.

Jackson National, a unit of Prudential P.L.C., London, has tried to design the contract so that customers can buy and pay for only the benefits and features that they really want, Jackson National says.