Fixed indexed annuity menu receives boost

Jackson National Life Insurance Co. introduced a new fixed index annuity to its menu of FIA options, its seventh FIA product. Jackson AscenderPlus Select offers a guaranteed minimum interest rate and a guaranteed minimum death benefit, and it provides the opportunity to earn interest linked to one of two market indexes or a combination of both. Jackson offers its own Multi-Strategy Index, or policyholders can choose the S&P 500.

The policy has 5-, 7- and 10-year indexed option periods, and three index crediting options: annual reset point-topoint, annual reset monthly sum and annual reset with monthly averaging. In addition, AscenderPlus Select allows policyholders to move money each year among the fixed account and the two index accounts; plus, they can change their index crediting method selection annually with no restrictions.