Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jan 20, 2021

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Company Details
Address: 1 Corporate Way
City: Lansing
State: MI
ZIP Code: 48951
Phone Number: (517) 381-5500
Company Rating 0 (0 reviews)

The Facts of Life

  • Jackson National doesn’t offer life insurance products anymore.
  • The company now solely focuses on annuity offerings.

Jackson National life insurance specialized in term life insurance, which happens to be the most common type of insurance people purchase. That’s because term life insurance covers what most people need and is easy to manage.

Buying a life insurance policy is an excellent way for people to take charge of their financial future as well as the finances of their dependents. Though Jackson National no longer offers insurance products, you can still purchase annuity products from them.

Even though Jackson National life insurance is no longer an option, you can easily check out competitive life insurance deals being offered in your area. Enter your ZIP code in the box above and search for affordable life insurance quotes.

What is Jackson National Life Insurance?

Jackson National life insurance was founded in Jackson, Mississippi, in 1961. However, they moved their corporate headquarters to Lansing, Michigan, in 1976, where they’re still located today. The company is named after Andrew Jackson, the seventh president of the United States.

Jackson was a financial business pioneer, one of the earliest companies to adopt the independent distribution model. This allowed the company to put an end to its own agency sales force in 1970, and they began to sell products exclusively through independent agents.

By 1984, Jackson reached a billionaire company status with over $1 billion in assets. The success of Jackson National life insurance attracted the attention of Prudential plc, which acquired the company in 1986.

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Does Jackson National sell life insurance?

Jackson National is no longer in the life insurance business. This may seem confusing because you can still search for its life insurance information online, but it is the truth. Jackson National only sells annuity products.

When Jackson National offered life insurance, however, it only offered term life policies as opposed to whole life insurance and other less common products.

What is term life insurance?

Term life insurance is a policy that can be purchased for a set number of years. Normally, they are 10- and 20-year terms, though some companies offer different options.

Below are the average rates for term life insurance policies based on age, gender, and lifestyle.

Average Monthly 20-Year Term Life Insurance Rates by Age, Gender, and Coverage Value
Age and Gender$250,000 Policy Average Monthly Life Insurance Rates$500,000 Policy Average Monthly Life Insurance Rates$750,000 Policy Average Monthly Life Insurance Rates$1 Million Policy Average Monthly Life Insurance Rates$2 Million Policy Average Monthly Life Insurance Rates
20-Year-Old Male$18$29$40$47$86
20-Year-Old Female$15$22$30$35$64
25-Year-Old Male$17$28$39$46$86
25-Year-Old Female$15$22$30$35$65
30-Year-Old Male$18$29$40$47$89
30-Year-Old Female$15$23$31$37$69
35-Year-Old Male$19$31$44$52$99
35-Year-Old Female$17$26$36$43$79
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Term life insurance rates can be a little higher for smokers, and they likely will not last as long. It’s also more difficult, though definitely not impossible, to be approved for life insurance if you are a smoker.

Average Monthly Term Life Insurance Rates for Smokers
Age
$100,000/10-Year Average Monthly Rates
$100,000/20-Year Average Monthly Rates
$100,000/30-Year Average Monthly Rates
Smoker
Male
Female
Male
Female
Male
Female
25$18.57$15.93$22.53$17.78$35.02$28.95
30$19.80$16.28$24.46$19.62$39.86$33.35
35$21.47$16.90$27.28$22.09$49.02$39.86
40$26.93$22.79$38.90$30.27$69.78$57.99
45$36.26$31.68$55.53$42.06$111.67$85.27
50$52.98$41.89$84.13$60.54$153.65$115.54
55$78.23$56.58$126.54$88.70NANA
60$113.87$84.04$195.80$131.21NANA
65$173.36$117.83$299.64$209.97NANA
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Non-smokers have a greater advantage when shopping around for life insurance. Usually, its quotes for rates are considerably lower and last longer. Also, it’s easier for non-smokers to be approved by an insurance company.

Term Life Insurance Non-Smoker

Average Monthly Term Life Insurance Rates for Non-Smokers
Age
$100,000/10-year Average Monthly Rates
$100,000/20-year Average Monthly Rates
$100,000/30-year Average Monthly Rates
Non-Smoker
Male
Female
Male
Female
Male
Female
25$8.27$7.57$10.03$9.06$13.29$12.41
30$8.27$7.57$10.12$9.24$14.08$12.94
35$8.27$7.57$10.12$9.42$15.31$13.11
40$9.86$9.15$12.50$11.18$19.45$15.84
45$13.38$12.50$17.95$14.96$28.51$21.91
50$17.78$15.40$27.19$20.50$48.58$32.12
55$22.53$18.83$38.37$28.60$83.60$57.99
60$37.14$25.61$68.64$46.11NANA
65$59.93$37.93$113.61$72.07NANA
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Because age is also a big factor, there are different average rates for men and women over the age 60 and 70. Below is the average for men over the age of 60.

Average Monthly Senior Term Life Insurance Rates For Men Over 60
Age of Insured MenAverage Monthly Life Insurance Rates for a $50,000 PolicyAverage Monthly Life Insurance Rates for a $100,000 PolicyAverage Monthly Life Insurance Rates for a $250,000 Policy
60-Year-Old$23.23$28.39$60.16
61-Year-Old$24.70$32.64$65.19
62-Year-Old$26.47$36.84$72.41
63-Year-Old$28.66$38.68$80.94
64-Year-Old$31.35$40.51$91.00
65-Year-Old$34.68$42.35$96.69
66-Year-Old$36.58$54.34$116.38
67-Year-Old$38.85$63.79$129.06
68-Year-Old$40.85$69.21$144.38
69-Year-Old$43.15$73.41$158.34
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Next, let’s take a look at the average term life insurance for women over the age of 60.

Average Senior Term Life Insurance Rates for Women Over 60
Age of Insured WomenAverage Monthly Rates for a $50,000 PolicyAverage Monthly Rates for a $100,000 PolicyAverage Monthly Rates for a $250,000 Policy
60-Year-Old$17.53$23.26$42.14
61-Year-Old$18.37$24.92$46.23
62-Year-Old$19.41$26.73$51.19
63-Year-Old$20.72$28.74$55.34
64-Year-Old$22.35$30.90$60.59
65-Year-Old$24.39$33.43$67.38
66-Year-Old$26.90$37.35$73.50
67-Year-Old$29.83$42.50$80.72
68-Year-Old$31.32$44.98$88.77
69-Year-Old$33.19$49.26$97.79
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If you’re above the age of 69, you can still purchase term life insurance, though it’s usually for shorter term lengths. Let’s examine the average rates of senior men over the age of 70.

Average Monthly Senior Term Life Insurance Rates For Men Over 70
Age of Insured MenAverage Monthly Rates for a $50,000 PolicyAverage Monthly Rates for a $100,000 PolicyAverage Monthly Rates for a $250,000 Policy
70-Year-Old$51.07$79.36$178.06
71-Year-Old$57.03$97.78$207.87
72-Year-Old$63.95$109.31$236.73
73-Year-Old$71.99$121.19$268.68
74-Year-Old$81.52$127.49$301.32
75-Year-Old$92.74$133.79$325.28
76-Year-Old$147.41$155.75$380.19
77-Year-Old$176.53$177.71$435.09
78-Year-Old$211.60$199.68$490.00
79-Year-Old$253.86$221.64$544.91
80-Year-Old$304.76$243.60$599.81
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Senior women over the age of 70 can also buy term life insurance. Below are the average rates for them.

Average Senior Term Life Insurance Rates For Women Over 70
Age of Insured WomenAverage Monthly Rates for a $50,000 PolicyAverage Monthly Rates for a $100,000 PolicyAverage Monthly Rates for a $250,000 Policy
70-Year-Old$39.06$55.48$107.62
71-Year-Old$43.33$66.18$128.89
72-Year-Old$48.20$74.80$151.19
73-Year-Old$53.90$85.10$179.74
74-Year-Old$60.51$90.74$198.99
75-Year-Old$70.07$96.25$217.73
76-Year-Old$106.53$115.85$280.44
77-Year-Old$131.78$135.45$329.44
78-Year-Old$163.31$155.05$378.44
79-Year-Old$202.69$175.53$429.63
80-Year-Old$250.69$195.21$478.84
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As you can clearly see, term life insurance is a great option for individuals no matter their age. However, a term life insurance policy may not be what you’re looking for. There are a variety of other life insurance products that you can purchase to better fit your needs.

What kinds of life insurance are there?

There is a broad spectrum of life insurance products on the market. Three of the most common types of life insurance are:

  • Term life insurance
  • Whole life insurance
  • Universal life insurance
Compare Term vs. Whole vs. Universal Life Insurance Policies
DetailsTerm lifeWhole lifeUniversal life
Policy durationBuyer's ChoicePermanentPermanent
Cash value interest calculationNo cash accountFixed interest rate, non-guaranteed dividendsBond interest rates
Flexible premiumsNoNoYes
Cash account value can declineN/ANoYes, if rates are low and fees high
Flexible death benefitsNoNoYes
Out of pocket costLeastModerateMost (Depending on Coverage Choices)
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Still want to learn more about different life insurance products and all that they entail? check out our life insurance 101 article to get all the information you need.

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What does Jackson National sell?

Jackson National sells annuities. The Company specifically offers variable, fixed index, and fixed annuities products. Annuities act more like an investment to supplement income during their retirement. They are affordable and excellent options for investing in your own future.

What is it like working for Jackson National Life?

According to Glassdoor and Indeed, working for Jackson National seems rather good. Glassdoor currently has a 3.8 rating and Indeed has a 3.7. For a company as old as Jackson National is, those aren’t too shabby.

Jackson National Life Insurance Ratings

Even though Jackson National no longer sells life insurance, they still are a large company that has accumulated years of ratings and reviews.

And if you’re considering buying an annuity product from them, you can still take its ratings as a life insurer into account – especially considering it’s the same company and likely still do business the same way.

  • A+ (Excellent) from the Better Business Bureau (though Jackson National is not accredited by the BBB and the company has a very low 1.11 customer review score).
  • A (Excellent) from A.M. Best.
  • AA (Very Strong) from Fitch Ratings.
  • AA (Very Strong) from Standard & Poor’s.
  • A1 (Good) from Moody’s Investors Service, Inc.

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Is buying life insurance worth it?

Buying life insurance is worth it. Life insurance policies are affordable options (especially term life insurance) to protect the financial well-being of your dependents after you pass away. They also can be very helpful if you are injured or become critically ill and need the income to survive.

Burial and medical costs add up, and unfortunately, someone has to pay them. And the last thing you would want to do is to leave your loved ones with a large financial burden.

The younger and healthier you are when you purchase life insurance, the better the deals, so it’s a good idea to at least begin thinking about buying life insurance so you and your loved ones can rest assured that future finances will be taken care of.

Shop around for the best life insurance rates in your area by simply typing your information in the search box below. Find out if Jackson National is the life insurance company for you or if you should buy life insurance elsewhere.

References:

  1. https://www.glassdoor.com/Reviews/Jackson-National-Life-Reviews-E27260.htm
  2. https://www.indeed.com/cmp/Jackson-National-Life-Insurance-Company/reviews