Jackson National Life Insurance Company has introduced the Jackson RateProtector multi-year guaranteed fixed annuity (MYGA) contract.
The new single-premium product can provide a rate guarantee period of three years, five years or seven years.
A contract owner can take out up to 10% of the initial premium in the first year without having to pay a withdrawal charge.
An owner can also take out up to 10% of the accumulated contract value every following contract year.
The feature menu also includes terminal illness and extended care waivers.
In other annuity product news:
Nationwide has introduced the Nationwide Peak 5 indexed annuity.
The new contract is a single-premium, deferred annuity that’s filed as a fixed insurance product.