Jackson National Life Insurance Review (2024)

It might surprise you to learn that Jackson National Life Insurance Company no longer sells life insurance. Jackson now only sells various types of annuities.

If you’re asking, “How much life insurance do I need?” be aware that Jackson can’t help you figure this out. You can get quotes from other life insurance companies to assist you.

Although you can’t buy Jackson National life insurance, you can get quotes from multiple life insurance companies near you by entering your ZIP code now.

What products does the Jackson National Life Insurance Company offer?

Although Jackson doesn’t offer term life insurance anymore, the company does offer annuities and retirement strategies.

Products offered by Jackson include:

• Fixed annuities – These provide a steady stream of income at a fixed rate and have a lower level of risk.
• Fixed indexed annuities – This type of annuity has payments related to an index, such as the stock market.
• Variable annuities – Any payments you receive are based on your investment portfolio. This means the better your investments do, the higher your payments.

Jackson also offers riders on these policies. Riders include a death benefit and a living benefit.

Annuities vs Term Life Insurance

Term life insurance provides protection against loss of assets during your lifetime. It pays benefits when you die or become disabled. If you live beyond age 65, term life insurance will continue paying monthly benefits until it expires.

An annuity is similar to a long-term mortgage because both pay regular installments over time. However, unlike a home loan, which requires repayment every month, an annuity payment may come once per year or even less frequently.

You can also use tools on the Jackson website to plan your retirement. There is even a retirement calculator that helps you figure out what you will need for retirement.

You can’t get Jackson National life insurance quotes since the company no longer offers any life insurance products. This also means that there are no Jackson National life insurance rates to compare.

However, you can get annuities quotes from Jackson by calling and speaking with a representative.

What are the Jackson National Life Insurance Company ratings?

A.M. Best financial strength ratings ranks companies on financial stability. Jackson National received an A rating, meaning it has an excellent ability to meet its financial obligations.

The Better Business Bureau gives Jackson an A- rating, and the company is not accredited. Most of the complaints revolve around customer service issues.

What is the history of the Jackson National Life Insurance Company Company?

Jackson National was founded in 1961 in Michigan, selling term life insurance policies. While the company used to offer life insurance, that is no longer the case and now goes by the name Jackson.

In 1986, Jackson was purchased by British company Prudential PLC, and Jackson is still a subsidiary. It gradually made the transition to only selling annuities as part of a retirement strategy. Independent agents sell Jackson products across the country.

While you can’t purchase Jackson National life insurance anymore, you can get quotes online or over the phone from other life insurers. You may be able to find cheaper rates than those available through Jackson.

Since the company no longer sells life insurance, there isn’t a claims department. However, customer service for Jackson can be reached at 1-800-644-4565.

You can also get quotes for annuities by calling, but there is no way to receive quotes online or through the website.

If you do purchase annuities through Jackson National LIfe, a 10-day cancellation policy allows you to cancel with no penalties.

How much money could I save if I switched my current provider?

If you switch providers, you might be able to save up to $1,000 per year. That amount depends on how long you stay with your current policy and whether you choose a different carrier.

Seamless Claims Process With Jackson National Life Insurance

Ease of Filing a Claim

Jackson National Life Insurance Company, currently focusing solely on annuities, does not offer life insurance policies. Consequently, there is no claims process specifically for life insurance claims. However, for annuity-related queries, customers can contact Jackson National’s customer service at 1-800-644-4565.

Average Claim Processing Time

Since Jackson National no longer sells life insurance policies, there is no average claim processing time related to life insurance claims. Any inquiries regarding annuities can be addressed by reaching out to the company’s customer service representatives.

Customer Feedback on Claim Resolutions and Payouts

As Jackson National primarily deals with annuities, there is limited customer feedback available regarding claim resolutions and payouts for life insurance policies. Customers interested in annuities can contact Jackson National directly for specific details and customer experiences.

Unveiling Digital and Technological Advancements of Jackson National Life Insurance

Mobile App Features and Functionality

While Jackson National Life Insurance Company doesn’t offer life insurance policies anymore, their digital presence is geared towards providing information about annuities. There isn’t a dedicated mobile app for life insurance policyholders.

For those interested in annuities, reaching out to the company’s representatives via phone is the primary method of interaction.

Online Account Management Capabilities

Jackson National’s online platform mainly focuses on annuities and retirement planning resources. Customers seeking information about annuities can explore the online tools and resources available on the company’s website. However, there are no online account management capabilities specifically tailored for life insurance policyholders.

Digital Tools and Resources

The company’s website provides tools and resources for retirement planning, including annuity calculators and other financial planning aids.

While these resources are beneficial for individuals considering annuities, there are no specific digital tools designed for managing life insurance policies, reflecting the company’s shift in focus from life insurance to annuities.

Jackson National Life Insurance Company: What is the bottom line?

You can’t find affordable Jackson National life insurance because the company no longer sells life insurance. The Jackson National Life Insurance Company only sells annuities.

Even though you can’t get Jackson National life insurance, you can still find cheap life insurance that fits your needs. Enter your ZIP code now to compare quotes from life insurance companies for free today.