Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Sep 16, 2021

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The Truth in a Nutshell

  • Jackson National Life Insurance Company no longer sells life insurance
  • Jackson only sells annuities and offers retirement strategies
  • Jackson has excellent financial ratings

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.

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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.

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.