LANSING, Mich.--Continuing a year-long process to significantly expand its life insurance operations, Jackson National Life Insurance Company (JNL) announced today that it has launched Perspective Investor, its first-ever variable universal life product. Perspective Investor is a flexible premium, variable universal life product designed to provide the security of base life coverage for the duration of the contract.
Perspective Investor has approximately 40 investment options, including a guaranteed fixed account option; a scheduled term insurance rider (STR), which allows the death benefit to be customized according to individual client needs; a continuation of coverage feature for beyond age 100, subject to state approval; and an application fax-in program with industry-leading turnaround times for underwriting.
"Jackson National Life's expansion of its presence in the life insurance market demonstrates the company's intent to provide independent investment professionals with the product breadth and depth necessary for any client they may encounter," said Clifford Jack, executive vice president and chief distribution officer, Jackson National Life.
"Jackson National has historically provided highly competitive and innovative annuity products. However, by broadening and enhancing our life insurance portfolio, and building that business line on an exceptional technology platform, we are offering a more attractive value proposition to independent investment professionals." "As we started expanding our life insurance operations, we focused on three core capabilities - people, process, and product," said Doug Campbell, senior vice president and national sales director for life products, Jackson National Life.
"With more than 32 external and internal life wholesalers supporting producers, advisers and broker/dealers, with a technology platform that allows us to process business in nearly half the time as our competitors, we have made tremendous progress in our overall vision for Jackson National's life business. Now, with the launch of Perspective Investor, we have taken the next step in expanding Jackson National's life product portfolio."
Perspective Investor is Jackson National's third new life insurance product in the past six months. In 2003, the company introduced new term and universal life products. Jackson National also added a significant number of key personnel to its life wholesaling and life product management teams, which are solely responsible for supporting the company's life business throughout the country.
"Jackson National is one of only a few financial services companies with a national wholesaling team dedicated exclusively to helping life insurance producers expand their practices and provide exceptional service to their clients," Campbell said. "With the turnaround of the equity markets, VUL products have regained their appeal, and attracted investment professionals who understand the tax, risk management, and investment aspects of the product."
Source: Jackson National Life Insurance Co.
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