Jackson National Life this week officially announced the launch of Perspective Advisory II (PAII), a fee-based variable annuity with no surrender charge. The product is designed for registered investment advisors and is the first Jackson variable annuity to offer Vanguard fund options.
The launch was reported in the October 12, 2017 edition of Retirement Income Journal. On September 25, 10 new Vanguard funds became available as investment options across Jackson’s product offerings.
Perspective Advisory II’s features include:
- Compensation structure: Advisor compensation is fee-based, rather than commission-based.
- Product cost: PAII offers institutionally priced subaccounts with no 12b-1 fees, commissions or withdrawal charges.
- Surrender period: There is no surrender period and zero withdrawal charges or related waivers.
- Investment freedom: More than 130 investment options are available.
Product guarantees: Living and death benefits are available for an additional charge.
“Following the release of the U.S. Department of Labor fiduciary rules, we fully recognize the need and demand for fee-based products,” said Brian Sward, senior vice president of Product and Investment Management for Jackson National Life Distributors LLC (JNLD).
“Since entering the fee-based space about a year ago, we’ve formed relationships with new advisors who haven’t traditionally sold our products or done business with Jackson.”
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