Jackson National Strengthens Value Proposition to Advisers; Introduces

    Business Editors

    LANSING, Mich.--(BUSINESS WIRE)--March 7, 2005--Continuing its dedication to supporting advisers with solutions that address the specific retirement needs of their clients, Jackson National Life Insurance Company(R) (JNL(R)) today announced the launch of Perspective L Series(SM)(1), a flexible premium deferred fixed and variable annuity.
    Perspective L Series is JNL's first L-share variable annuity contract, which enables investors to have greater control over their assets by offering a shortened withdrawal charge period (compared to the typical B-share VA contract). This product was designed with a 4-year withdrawal charge period and offers more than 50 investment options from 15 of the top money managers in the industry. Perspective L Series also features an improved version of LifeGuard 5, JNL's popular guaranteed minimum withdrawal benefit. With LifeGuard 5, investors can receive a guaranteed lifetime income stream through systematic withdrawals equal to 5 percent without having to annuitize the contract, even if the contract value reaches zero(2).
    The most significant enhancement to LifeGuard 5, an optional benefit offered within the flexible, unbundled architecture of JNL's Perspective family of variable annuities, is a provision that allows for the withdrawal of the required minimum distribution on certain qualified contracts without affecting the contract holder's ability to receive a lifetime income stream(3).
    "Through our broad product portfolio, JNL is committed to offering multiple choices for advisers across all distribution channels that better serve the specific financial needs of their clients," said Clifford Jack, executive vice president and chief distribution officer, Jackson National Life(R). "We provide tremendous value to advisers by creating consumer-friendly products that are backed by industry-recognized customer service and wholesaling support."
    Perspective L Series is Jackson National's second new variable annuity launched this quarter. In early January, the company introduced Perspective Advisors II, a fixed and variable annuity contract that offers investors no withdrawal charges(3) and a modular design allowing investors to choose and pay for only those features and benefits that are specific to their financial situations.
    "The architecture of our variable annuity products is a distinct competitive advantage for Jackson National in the marketplace," said Steve Kluever, vice president, variable product management, Jackson National Life Distributors, Inc. "The built-in flexibility of this core design enables JNL to develop the types of products advisers and their clients are looking for and implement these products with incredible speed to market."
    Jackson National's variable annuity portfolio has reached a number of milestones in recent months. Perspective II(SM), JNL's flagship, unbundled VA contract(1) was the top-selling variable annuity among independent financial advisers in 2003, and was also the top-ranked variable annuity contract by net flow(4) in 2004, according to the Variable Annuity Research & Data Service (VARDS(R)), a unit of Morningstar, Inc. JNL also introduced Web-based illustration technology in 2004, a tool that enables advisers to compare multiple contract variations online, in order to build the most appropriate contract for their clients.
    Registered representatives who are interested in learning more about Perspective L Series and Jackson National's wholesaling support team should call 800/711-JNLD (5653).

    (1)The Perspective L Series Fixed and Variable Annuity and the Perspective II Fixed and Variable Annuity are not FDIC/NCUA insured, may lose value, are not Bank/CU guaranteed, are not a deposit and are not insured by any federal agency.
    (2)Restrictions and limitations apply to the lifetime guarantee. If all withdrawals taken in a contract year are greater than the Guaranteed Annual Withdrawal Amount (GAWA), the lifetime guarantee is null and void. Withdrawals in excess of GAWA also reduce the LifeGuard benefit. If elected at issue, this means you may not receive your original investment back.
    (3)Taxable amounts distributed are taxed as ordinary income and if taken before age 59 1/2, may be subject to a 10% federal tax penalty.
    (4)Calculated net flow estimates are based on the growth in quarterly assets under management net of monthly investment returns.

    About JNL

    With more than $61 billion in assets (GAAP)*, Jackson National(R) is an industry leader in the areas of fixed, fixed index and variable annuities. The company markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, financial institutions and independent insurance agents. JNL's subsidiary, Jackson National Life Insurance Company of New York(SM), similarly markets products in the state of New York. Through its affiliates and subsidiaries, JNL also provides asset management and retail brokerage services. For more information, visit www.jnl.com.

    *As of 12/31/04. JNL also has more than $53 billion (GAAP) in policy liabilities set aside primarily to pay future policyowner benefits.

    Before investing in variable products, investors should carefully consider the investment objectives, risks, charges and expenses of the variable product and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
    Perspective L Series Fixed and Variable Annuity (VA210 and VA210G), Perspective Advisors II Fixed and Variable Annuity (VA410 and VA410G) and Perspective II Fixed and Variable Annuity (VA220 and VA220G) (Products and/or features may not be available in all states and state variations may apply) are issued by Jackson National Life Insurance Company (Home Office: Lansing, MI) and distributed by Jackson National Life Distributors, Inc., member NASD. These products have restrictions and limitations. Please contact the company for more information.
    Variable annuities involve investment risks and may lose value. The long-term advantage of the benefit options will vary with the performance of the variable investment options you select and the length of time you own your annuity. Under certain market conditions, the cost of the options may exceed the actual benefit. All guarantees are backed by the claims-paying ability of Jackson National Life Insurance Company and do not apply to the principal amount or investment performance of the separate account or its underlying investments. The value of the variable annuity fluctuates with that of the underlying portfolios. Please remember that a JNL variable annuity is intended to be a long-term, tax-deferred investment vehicle for retirement. An annuity's earnings are taxable as ordinary income when withdrawn and, if taken before age 59 1/2, may be subject to a 10% federal tax penalty.
    The following cautionary statement is included to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, the Company. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished.

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CONTACT: Jackson National Life Insurance Company Thomas M. Kelleher, 800-565-9044, ext. 2477 Fax: 517-367-4710 thomas.kelleher@jnli.com

KEYWORD: MICHIGAN INDUSTRY KEYWORD: INSURANCE BANKING SOURCE: Jackson National Life Insurance Company

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