Despite having gotten rid of their final expense insurance policies in 2012, Jackson National Life Insurance has continued to thrive with their focus on retirement income and annuity products since then.
Because of their large catalogue of available products for retirement income, most with customizable contracts, costs will ultimately vary depending on what you and your loved ones are seeking in terms of coverage in the golden years. Regardless of the price, with positive Jackson National Life Insurance reviews from reputable organizations, like AM Best and JD Power, you can trust the provider’s financial strength and stability.
Final Expense Benefits has you covered, working with some of the market’s top life insurance companies, because ensuring our customers’ needs are met is our business. If you want to learn more about life insurance companies, check out our free quoting tool for better insight into options that better fit your budget and needs. Call us at (866) 786-0725 and familiarize yourself with the insurance market today.
Key takeaways
- As of 2012, Jackson National Life Insurance no longer sells life insurance policies—only annuity options with death benefits.
- Jackson offers a vast library of annuity product types and customizable options to meet the needs of applicants’ financial situations.
- Because of the wide array of annuity options, costs for such contracts vary due to a mix of factors, from market volatility to contract customization, and more.
- Despite exhibiting consistent financial strength across third-party services, online customer reviews reflect a mixed view of the company.
What is Jackson National Life Insurance?
Ever since it was founded in 1961 by A.J. Pasant, Jackson National Life Insurance began as a traditional life insurance provider, but since 2012, the company has expanded and ultimately transitioned its market focus to retirement income and annuity products.
Jackson National Life Insurance Annuity Options
Like life insurance, annuities can provide stable financial support for retirees. Not only can they provide consistent income for you and your loved ones’ golden years, but they’re also an effective way to turn earned assets into consistent cash payouts later in life.
Over at Jackson National Life Insurance, you’ll have plenty of annuity options available for purchase. Product types include: fixed annuities, fixed index annuities, variable annuities, and registered index-linked annuities (RILAs).
Fixed Annuities
Fixed annuities are a type of insurance contract that promises a guaranteed interest rate on the buyer’s contributions to the annuity account. This type of insurance contract is most commonly used to create reliable streams of income after retirement. At Jackson National Life, Jackson Rate Protector and Immediate Annuity are considered fixed annuity products.
- Jackson RateProtector: available for three, five, or seven years, with higher interest crediting to premiums of $100,000 or more. Included benefits for this annuity include an extended care waiver, a terminal illness waiver, a preselected death benefit, and an optional add-on lifetime income benefit.
- Immediate Annuity: provides a guaranteed minimum of 3% growth annually and protects against market volatility, can also protect assets against market inflation with an optional Income Escalator
Fixed Index Annuities
Fixed index annuities are deferred annuities designed to provide growth potential based on the returns of a market index. This type of insurance contract also provides protection against negative returns of the same market index, and they frequently offer a guaranteed level of income through optional riders. At Jackson National Life, the Jackson Income Assurance Suite and the MarketProtector Suite offer fixed index annuity products. These products may be best for seniors seeking coverage for end-of-life expenses as they’re available to those between the ages of 50 and 80 with a minimum premium of $25,000.
Now, if you’re a senior in the market seeking a bit more for burial coverage, consider calling Final Expense Benefits at (866) 786-0725, Monday through Friday, 9 a.m. to 5 p.m. ET, to learn more about funeral insurance.
Variable Annuities
Variable annuities are a type of retirement account in which the account holder has an investment fund intended to provide a regular monthly income after retirement. The amount of the monthly income is subject to fluctuations in the value of the investments selected for the account. The Perspective Family and Elite Access Suite offers variable annuity products at Jackson National Life.
- Perspective Family Annuities: available with a core contract charge of ~1.3%, these contracts include over 100 investment options as well as automatic rebalancing. Additional annuity features for products under the suit include a seven-year surrender schedule and minimum initial premiums of $10,000 for non-qualified applicants and $5,000 for qualified applicants.
- Elite Access Suite: has a five-year surrender schedule and a slightly slower core contract charge of ~1%, also has more than 100 different investment options available, and minimum initial premiums of $5,000 for non-qualified applicants and $2,000 for those who are qualified.
Registered Index-Linked Annuities
Registered index-linked annuities (RILAs) allow you to grow your money with partial protection from market losses. It offers more upside potential than fixed index annuity products, but with built-in limits on how much you can lose. Under Jackson National Life Insurance, the Jackson Market Link Pro Suite offers RILAs.
The base offering of the annuity line has a six-year surrender period with a $25,000 minimum. Additionally, contracts in the Jackson Market Link Pro Suite offer several index options, multiple crediting methods, adjustable cost buffers and floors, and standard riders (terminal illness and extended care riders) are automatically included.
How Much Does Jackson National Life Insurance Cost?
Fees and costs differ depending on which annuity you apply for; however, standard costs include annual contract charges, operating expenses, fund expenses, and withdrawal fees.
For example, with a Jackson RateProtector fixed annuity product, at a premium of $100,000, assuming a 4.5% annual rate of return at the end of a 30-year period range anywhere from $222,389 to $374,532, depending on the withdrawn interest accumulation is tax-deferred or not.
Jackson National Life Insurance Pros & Cons
Pros
- Large annuity product library available
Jackson National Life Insurance boasts multiple suites for their annuity options.
- Product transparency
Jackson is direct about its history and its products; the company’s online resources offer anyone browsing plenty of additional resources for financial professionals as well as cybersecurity best practices for general consumers. - Third-party rating services verify financial strength
Jackson National Life has been around since 1961, and has its financial stability and strength verified by numerous reputable third-party rating services.
Cons
- They no longer sell life insurance policies
Since 2012, Jackson National Life Insurance has ceased selling any permanent whole life insurance plans.
- Annuity product complexity
Compared to whole life insurance policies, many may be confused by the complexity of annuity products. Additionally, annuities can allow a high amount of contract customizability as well.
- Mixed customer ratings online
Despite strong standings with third-party rating services such as NAIC’s customer complaint index, Jackson National Life Insurance reviews with customers indicate mixed sentiment regarding general quality for their annuity products as well as their customer service.
Jackson National Life Insurance Reviews
AM Best
1
Responsible for surveying and examining companies’ overall credit and ability to meet financial obligations, AM Best is a third-party rating service that aims to protect the average consumer through their findings.
As of December 2024, Jackson National Life Insurance has a Financial Strength Rating of A by AM Best, indicating a strong capacity to meet financial commitments.
J.D. Power
2
J.D. Power conducts annual studies based on customer feedback, company dependability, and overall quality of insurance providers currently operating.
Based on their 2025 Individual Annuity Study, Jackson National Life Insurance scored 650 out of 1,000, indicating an above average rating (639 average score) for overall customer satisfaction.
NAIC
3
The National Association of Insurance Commissioners (NAIC) is responsible for tracking customer complaints against life insurance companies, reporting those results annually via their complaint index. In general, insurers ought to aim for a low average rating (ratings ranging from 0 to 10).
According to their 2024 National Complaint Index Report, Jackson National Life Insurance’s overall customer complaint index under the NAIC is 0.18. Their customer complaint index for individual annuities, comparatively, is slightly higher at 0.37.
BBB
4
The Better Business Bureau (BBB) is known for helping everyday customers identify trustworthy businesses and companies by tracking filed complaints and providing complaint resolution services. They gauge a business’s ability to operate in good faith and adequately resolve consumer complaints based on a letter grade system from A+ to F.
Jackson National Life Insurance currently holds a BBB rating of A-. However, it is also important to note that the provider is not a BBB accredited business, indicating that they’ve yet to agree to the BBB’s Standards for Trust and haven’t passed the organization’s vetting process. Additionally, despite the relatively high rating by the BBB, Jackson National also holds a 1.14-out-of-5.0 customer review rating.
Customer Ratings
5
Lisa Z
5/5
My experience with this company varies vastly from the others listed… fortunately. Following my mother’s death, we submitted the paperwork required and received payment within 10 days. No edits needed, no customer service needed, paperwork mailed only once. The claims department responded quickly, automatically depositing the payout 10 days from receiving our paperwork. I am grateful to this company and we can now bury my mother as she had wanted.
Michael P
1/5
Customer service. Claims department. I have been in Funeral Service for over 45 years and Jackson Life by far is the worse insurance company I have ever dealt with. All paperwork must be faxed and re-faxed multiple times. I guess they haven’t upgraded to computers. You never receive a clear answer. Claims are delayed for several months if not years.
Bassel F
1/5
Jackson is an unethical company that purposefully delays claims requiring the same paperwork to be completed and sent in multiple times to delay the release of funds that are rightfully owned by the contract owner. Jackson will go to any length necessary to keep your money. My recommendation is to never do business with Jackson and pull your money. There are many other financial institutions that continue to place the customer first and this is the route one should take. Do not trust Jackson or people that work for or recommend Jackson. Loved ones will not be paid out without a fight during their darkest hours. Horrible company that does whatever they have to do to not pay out a claim. You have been fairly warned.
Alternative Options for Direct Burial Insurance Coverage
Since Jackson National Life Insurance has since stopped selling final expense insurance, we at Final Expense Benefits are proud to offer alternative options for exactly that. Listed below are sample estimates for $10,000 burial coverage plans for non-smoking applicants with no pre-existing medical conditions from some of our biggest life insurance partners.
Sample Burial Rates for Seniors
| Company |
Male 50y/o |
Male 60y/o |
Male 70y/o |
Female 50y/o |
Female 60y/o |
Female 70y/o |
|---|---|---|---|---|---|---|
|
$31 |
$34 |
$75 |
$24 |
$33 |
$53 |
|
|
$34 |
$50 |
$70 |
$27 |
$40 |
$56 |
|
|
$34 |
$45 |
$79 |
$29 |
$35 |
$59 |
|
|
$32 |
$59 |
$105 |
$27 |
$46 |
$79 |
|
|
$34 |
$45 |
$79 |
$29 |
$35 |
$59 |
For $10K policies with non-smoking applicants with no pre-existing conditions.
Final Thoughts
Jackson National Life Insurance has been in business despite drastic shifts in business focus, thanks to their product transparency with applicants and a wide range of annuity options for retirees.
However, this does not change the fact that the company still does not offer any sort of permanent whole life insurance for seniors.
If you or a loved one would like to learn more about burial insurance providers currently on the market and how they differ from annuities, call Final Expense Benefits at (866) 786-0725, Monday through Friday, 9 a.m. to 5 p.m. ET, or check out our free online quoting tool for personalized policy rates.
FAQ
When was Jackson National Life Insurance founded?
Jackson National Life Insurance, also known as just Jackson, was founded in 1961 in Jackson, Michigan.
Where is Jackson National Life Insurance located?
Originally founded in Jackson, MI, the company relocated its headquarters in Lansing, MI in 1976. Currently, Jackson National Life Insurance’s headquarters is located in Alaiedon Township, MI.
Who owns Jackson National Life Insurance?
As of February 2021, Laura Prieskorn is the President and Chief Executive Officer of Jackson Financial Inc.—Jackson National Life Insurance is a wholly-owned subsidiary of Jackson Financial Inc. and part of a larger family of subsidiary companies.
What happened to Jackson National Life Insurance in 2012?
From August 2012, Jackson National Life stopped selling new life insurance policies in order to focus on marketing retirement and annuity products.