Jackson National Life has launched Perspective Rewards, a new variable annuity product that pays a 6% automatic bonus on first-year contributions under $100,000 and 8% on contributions of $100,000 or more.
Rewards is the fourth contract offered within Jackson’s Perspective variable annuities series. Annual fees include a mortality and expense risk fee of 1.65%, a 0.15% administrative fee, and fund management fees ranging from 0.57% to 2.63%. The maximum surrender charge is 7.5% during a nine-year contingent deferred sales charge period.
Living benefits available under the Perspective Rewards contract, and their maximum annual expense ratios, are:
- SafeGuard Max, a Guaranteed Minimum Withdrawal Benefit (GMWB) with a five-year step-up, 0.81%.
- AutoGuard5, a 5% GMWB with annual step-up, 1.47%
- AutoGuard6, a 6% GMWB with annual step-up, 1.62%
- LifeGuard Freedom GMWB, a lifetime GMWB with bonus and annual step-up, 1.50%. (Joint contract, 1.86%)
- LifeGuard Select, a lifetime GMWB with bonus and guaranteed withdrawal balance adjustment, 1.20%. (Joint contract, 1.50%).
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