Jackson National Life Insurance Company has introduced a sequel to its Elite Access Advisory variable annuity contract.
The Nashville, Tennessee-based unit of Prudential P.L.C. has rolled out the Elite Access Advisory II contract.
Like the first version of the product, which was introduced two years ago, the product is an investment-only variable annuity (IOVA) contract aimed at fee-based advisors.
Contract holders pay no any mortality, expense or administration charges.
The is no surrender period, and there are no withdrawal charges.
Any portion of the contract can be withdrawn at any time prior to the income date.