Jackson National Life Insurance Co. Lansing, Mich., has launched Elite Access, a deferred variable annuity that avails policyholders of investments in alternative asset classes to offset market volatility.
The 12 alternative investments options include managed futures, commodities, listed private equity, global infrastructure, convertible arbitrage and emerging markets debt. The product also features traditional investments from American Funds, Franklin Templeton, J.P. Morgan and T. Rowe Price, among other active managers.
In other company news:
OneAmerica Financial Partners Inc., Indianapolis, Ind., enjoyed its most successful year in every major sales category, breaking company records set in 2010 for 401(k) sales, employer-sponsored not-for-profit sales, total assets and plan participants. OneAmerica says it also had its best year of retaining retirement business and renewal growth, a measure of the growth of assets within retirement plans already with the company.
OneAmerica achieved 51% year-over-year growth in retirement sales, including a 67% increase in 401(k) sales. The company ended the year with a record 95% retention rate on existing business including 98.6% retention on its large block of tax-exempt health care business.