Jackson National Life Insurance Company is adding new variable annuity investment choices aimed at customers who want exposure to the stock market without the need to pick their own investments.
Jackson National, Lansing, Mich., a unit of Prudential P.L.C., London, says it has added 4 “Target Date” portfolios to its Perspective variable annuities and 1 Target portfolios that tries to diversify assets using a different strategy.
The new Target Date portfolios are designed for investors who intend to retire in 2015, 2020 or 2025, or are already retired.
A fifth portfolio invests in the common stock of 20 companies selected from the Dow Jones Select Dividend Index.
Jackson National also is adding a 5% annual benefit increase option for holders of its LifeGuard 4 and LifeGuard 5 Perspective VA family riders. For younger purchasers, the increase option is available on the 10th contract anniversary after the effective date of the benefit. For older purchasers, the option is available on the contract anniversary immediately following the owner’s 81st birthday.