Jackson National Life Insurance Co. released LifeGuard Freedom 6 Net, a guaranteed minimum withdrawal benefit (GMWB) designed to allow investors to offset tax liability by upping the available withdrawal amounts.
The company said through the benefit, contract holders can “lock in gains” to their withdrawal balance if the amount of their contract value becomes higher than the premium payment adjusted for withdrawals, as well as grow the balance with a 6% bonus for the first 10 years that no withdrawals are made. The benefit is also designed to let policyholders start and stop withdrawals when needed and features a Joint Option, designed to guarantee income for the policyholder and spouse.
“Today’s investing landscape is marked by uncertainty and complexity, which creates a need for innovative solutions that can address the challenges facing retirees,” said Clifford Jack, EVP and chief distribution officer for Jackson. “At a time when many providers are focused on simplification, Jackson is committed to giving advisers the choice and flexibility to tailor products according to the individual client’s unique needs and objectives. Our products are designed for advisers who embrace customization and view financial planning as a process, rather than a transaction.”
LifeGuard Freedom 6 Net is available for an extra charge, in addition to Jackson-licensed annuities.
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