What will you learn in this annuity review?
In this review of the Jackson National Life MAX annuity, we will be discussing the following details:- Annuity type
- How the annuity works
- Pros and cons
- How the annuity may be presented to you by a salesperson
- How the annuity is best used
- How it is most poorly used
Annuities can be complex. That’s where having an Annuity Investigator who loves math comes in. We make the complex, simple.
If you’ve been thinking about going with a financial product that can provide you with principal protection, along with a guaranteed stream of income in retirement, then the Jackson National Life Insurance Company’s MAX annuity may be a good option for you. One reason is because this annuity has several guarantees that are built directly into it, which can provide you with peace of mind – even in an economic environment with historically low interest rates. Even so, before you move forward with committing yourself to this fixed annuity – or for that matter, to any annuity – it can be beneficial for you to have a more in-depth knowledge of just exactly how these products work, as well as how it may – or may not – fit in with your particular financial situation. Over the past decade or so, fixed annuities have become more popular – in large part due to the guaranteed income stream that they can provide. With such a volatile stock market of late, even a low interest rate product can provide people with a guarantee that is preferable to the roller coaster ride you get when you own equities. One reason for the increased popularity of fixed annuities is because many companies have done away with the defined benefit pension plan, which offered a set income stream to retirees, typically for the remainder of their lives. So, in a way, fixed annuities can become a “personal pension” of sorts. Due to the growing interest in annuity products in general, the number of financial professionals who are selling these types of financial vehicles has also expanded quite a bit. This, however, may not necessarily be a good thing, because even though most insurance and financial advisors will want to do the right thing for their clients, they may not always be giving you the in-depth information that you need before you purchase a fixed annuity. On top of all that, due to the wider range of interest in annuities these days, the list of products that are now available has grown. However, many of these offerings can be extremely confusing to understand – even for well-educated consumers (and financial advisors). Given this, you should ideally take some additional steps towards truly understanding what it is that you’re getting into before moving full force ahead – especially because you may be using a large portion of your overall retirement savings in order to purchase one. Plus, once you have purchased an annuity, due to the high surrender charges, it can be quite costly to get out if you happen to change your mind and find a product that better suits your needs.
Annuity and Retirement Income Planning Information that Can Be Trusted
If you have never visited our website before, we would like to officially welcome you to AnnuityGator.com. We comprise a team of highly experienced financial professionals who are dedicated to offering you comprehensive and unbiased annuity reviews. We have been providing these reviews for a number of years – and much longer than any of our competitors. This has made us a trusted source of annuity information. It is possible that you have been looking for annuity information online, and in doing so, you have likely run across conflicting details about these particular products. This is actually not surprising, as there are a lot of annuities available today. You also may have recently attended a seminar about annuities where the presenter offered you lunch or dinner in return for providing you more details on the Jackson National Life MAX annuity, or another similar annuity product. In turn, this may have led you to the Internet to find out more. But, although there are a number of very good websites that are devoted to marketing their annuities online, some of these tend to lure visitors in by offering claims such as the following:- Highest annuity payouts
- Low fees
- Guaranteed income for life
- Top Rated Annuity Companies
- Get an Annuity Quote Now!
Jackson National Life MAX Fixed Annuity
| Product Name | MAX Annuity |
|---|---|
| Issuer | Jackson National Life Insurance Company |
| Type of Product | Fixed Annuity |
| Standard & Poor's Rating | A+ (Strong) |
| Phone Number | (877) 565-2968 |
| Website | https://jackson.com |
- 7th largest U.S. life insurance company ranked by total statutory assets
- 15th largest U.S. life insurance company ranked by general account assets
- 21st largest U.S. life insurance company ranked by statutory surplus asset valuation reserve and interest maintenance reserve
- A (Excellent) from A.M. Best
- A+ (Strong) from Fitch Ratings
- A+ (Strong) from Standard & Poor’s
- A1 (Good) from Moody’s Investor Service
- #1 seller of annuities in the U.S. during 2019
- #1 in variable annuity sales in the U.S. during 2019
- 7th largest seller of fixed index annuities in the U.S. during 2019
Before we get into the gritty details, here are some necessary legal disclosures…
This is an independent annuity product review. It is not a recommendation to purchase or to sell an annuity. Jackson National Life Insurance Company has not endorsed this review in any way, nor do we receive any type of compensation for providing this review. This annuity review is meant solely to be an independent review at the request of our readers so that they may see our perspective when breaking down the positives and the negatives of this particular annuity. Prior to committing to the purchase of any type of insurance and / or investment vehicle, it is critical that you do your own due diligence, and that you also talk with a properly licensed professional if you have any questions that relate to your specific situation. All of the names, materials, and marks that have been used in compiling this annuity review are the property of their respective owners. For additional information on how to compare fixed annuities so that you can decide which may be the best on for you, click here in order to obtain our free annuity report. How Jackson National Life Insurance Company Describes the MAX Fixed Annuity According to Jackson’s product literature, the MAX annuity is described as a flexible premium deferred fixed annuity that can provide the following benefits:- Preservation of principal
- Competitive interest rates
- Your choice of interest rate guarantee periods
- Tax-deferred interest accumulation
- Options for guaranteed retirement income – including an income stream for life
- First Year Bonus – Right off the bat, even though this annuity provides a first year bonus, because of that, the fine print at the bottom of the brochure goes on to state that, rates in subsequent years will be lower.” So much for great rates!
- Competitive Interest Rates – Here, the product literature states, “If you elect the 3-year or 5-year guarantee period, the rate credited to your contract will be lower than if the extended guaranteed period had not been selected. The 3- and 5-year extended guarantee periods may not be available in all states and are subject to availability.”
- Tax Advantages – Even the tax advantages may be iffy, unless you meet certain criteria. For example, first, some states impose premium taxes. In addition, if you are using this annuity to fund a qualified plan, the tax deferral really won’t offer you any additional tax related value.
What About Fees on the Jackson National Life MAX Fixed Deferred Annuity?
In addition to knowing how your money may perform in an annuity, it is also wise to get a good grasp on how – and how much – in fees that you may be charged in a given product. Annuities can, and often do, charge fees – which can occur during the product’s savings, or accumulation, period, as well as during the time that you are withdrawing. These fees can oftentimes really add up, too, which can have an impact on the amount of money that you are able to save, and ultimately the amount of income that you will receive in the future. Just some of the fees that are typically found on fixed annuities can include an up-front commission that is paid to the insurance or financial advisor who sold you the product, as well as contract and administrative charges. Also, if you need or want to take out more than 10 percent of your contract value during the early years, you will also be assessed a surrender charge. With regard to the Jackson National MAX annuity, the surrender charges go on for the first full six years that you own the product. These are outlined as follows:| Completed Years Since Receipt of each Premium Payment | 0 | 1 | 2 | 3 | 4 | 5 | 6+ |
|---|---|---|---|---|---|---|---|
| Withdrawal Charge | 6% | 5% | 4% | 3% | 2% | 1% | 0% |
The Annuity Gator’s End Take on the Jackson National Life MAX Annuity
Where it works best: This particular annuity will usually work the best for those who are looking for:- Safety of principal
- Guaranteed lifetime income in retirement
- Guaranteed rate protection – at least for a short period of time after purchasing the annuity
- Want access to most or all of your funds within the first several years (during the surrender period)
- Are seeking a high rate of return on your money
- Do not intend to use the lifetime income feature
In Summary
There are a number of key factors that should be considered when determining which annuity may be right for you – or even if an annuity is the best option for your money. In any case, annuities are always considered to be long term financial endeavors. Because of that, it is essential that you feel comfortable in knowing how an annuity may get you closer to your ultimate retirement goals. If you are considering the purchase of a fixed annuity, then you can count on keeping your principal safe, as well as receiving a guaranteed income in the future, and in turn, if you choose the lifetime income option, you can be assured that you won’t run out of income, no matter how long you may need it. In the case of the Jackson National Life Insurance Company’s MAX annuity, there can be some positive feature. However, it could still also fall a bit short – and quite honestly, there may very well be some better options that are available to you. This is especially true if you are looking for lifetime income, safety of principal, and the opportunity to obtain a higher amount of growth. If you still have any additional questions regarding whether this particular annuity is the right one for you, or even if you just simply need some additional assistance in guiding you in the right direction, please feel free to reach out to us directly through our secure contact form here.Have Any Additional Questions on the Jackson National Life MAX Annuity?
We realize that this review may have been somewhat long. But, in providing you this information, we would prefer to give you “too much” in terms of detail, rather than not enough. So, if you found this annuity review to be helpful, please feel free to pass it on and to share it with others who you think may benefit from it, too. Also, we understand that, as with most other elements in the financial world, information on annuities can change often. So, if you happened to notice any information in this review that was outdated or needs changing, please let us know and we will be more than happy to revise it as quickly as possible. If this annuity review caused you to be more confused about annuities, or if by reading through it, it prompted some additional questions that you would like to have answered, then please click here to let us know that, too. Are there any other annuities that you would like to see reviewed? Not a problem! Our team of annuity “geeks” will get on the case and provide more in-depth details on it, too. Just simply click here in order to provide us with the name of the annuity (or annuities) that you would like to know more about, and we will do our best to get the details online as quickly as possible. Best, The Annuity Gator P.S. If you would like to read more of our Jackson National annuity reviews here are some links to check out:- Independent Review of the Jackson National Perspective L Series Variable Annuity
- Independent Review of Jackson National Life BonusMAX One Annuity
- Independent Review of Jackson National Life MAX XL Fixed Annuity
- Independent Review of the Jackson National Life OptiMAX 100 Fixed Annuity
- Independent Review of the Jackson National Elite Access Advisory Variable Annuity
- Independent Objective Review of the Jackson National Life MarketProtector 7 Year Annuity
- Independent Objective Review of the Jackson National Life MarketProtector 5 Year Annuity
- Independent Review of the Jackson National Life Perspectives ll / Lifeguard Freedom 7 Net Variable Annuity
- Independent Review of the Jackson National OptiMAX Three Fixed Annuity
- Independent Review of Jackson National Life MAX One XL Fixed Annuity
- Independent Review of Jackson National Life BonusMAX Two Annuity
- Jackson National Annuity Review – The Life Action Fixed Annuity
- Independent Review of the Jackson National Elite Access Advisory Variable Annuity
- Independent Review of Jackson National Life BonusMAX Annuity
- Independent Review of Jackson National Life MAX One Fixed Annuity
- Independent Review of the Jackson National Life OptiMAX One Fixed Annuity
- Independent Review of the Jackson National Perspective Advisory Variable Annuity
- Independent Review of the Jackson National RateProtector Multi-Year Guaranteed Annuity
- Independent Objective Review of the Jackson National Life MarketProtector 10 Year Annuity
