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Indexed Annuity Offers Proprietary Index Choice

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Jackson National Life Insurance Company has introduced the Jackson AscenderPlus Select annuity contract.

The annuity is an indexed annuity contract that offers a guaranteed minimum interest rate, a guaranteed minimum death benefit, and a chance to link additional returns to either the S&P 500 Index or Jackson National’s own Multi-Strategy Index, according to Jackson National, Lansing, Mich., a unit of Prudential P.L.C., London.

Jackson National created the Multi-Strategy index by selecting 100 stocks using 5 pre-determined selection criteria, the company says.

The index includes stocks issued by companies of all sizes, and it includes stocks issued by non-U.S. companies as well as by U.S. companies.

Jackson National will select and rebalance the index stocks every year, the company says.

The contract offers a choice of 5-, 7- and 10-year indexed option periods.

The index crediting options are an annual reset point-to-point option, an annual reset monthly sum option, and an option that combines an annual reset with monthly averaging.