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April 28, 2008 at 02:05 PM
A major annuity manufacturer has extended its product line.
Jackson National Life Insurance Company, Lansing, Mich., a unit of Prudential P.L.C., London, is rolling out the Select Annual Reset fixed indexed annuity contract.
Jackson National is guaranteeing to pay a minimum interest rate and a minimum death benefit, and it will give holders a chance to earn additional interest based on the performance of the S&P 500 Index, Jackson’s own Multi-Strategy Index, or a combination of both indices.
Holders can choose a 5-year or a 7-year term, and they can reallocate assets between the fixed account and the 2 variable accounts each year, Jackson National says.
