29.08.2007 14:49:00
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Jackson(SM) Executive Vice President Clifford Jack to Deliver Chairman's Address at NAVA 2007 Annual Meeting
Jackson National Life Insurance Company®
(JacksonSM) today announced that Executive Vice
President Clifford Jack, incoming Chairman of NAVA, Inc., the
Association for Insured Retirement Solutions, will be a keynote speaker
at the trade association’s 2007 Annual Meeting
in Boston. Mr. Jack will deliver his Chairman’s
Address on Monday, September 10, and will also moderate a presentation
entitled "Capturing the Income Market: Focus,
Commitment and Innovation.” "My priorities as incoming Chairman of NAVA
are threefold: streamline and standardize the annuity transaction
process, improve public perception of the product and continue to have a
productive dialogue with regulators,” Mr. Jack
said. "NAVA’s
strategic imperative is to ‘grow the pool’
for the annuity market, which means expanding the relevance of annuities
to a broader set of advisors and investors in order to increase market
share among alternative investment vehicles. In order to accomplish
this, we must address cost and complexity concerns, educate regulators
on product innovations and communicate the annuity’s
value proposition with consistent, strong and defensible messages.”
According to Mr. Jack, advisor and investor education will play an
integral role in NAVA’s efforts to improve
product perception and position annuities at the intersection of asset
accumulation and income distribution. He believes that the key to the
success of this initiative will be building educational programs that
speak in plain English and focus on the value of the product to the
investor.
"We need to be as transparent as possible as
it relates to product structure and cost, and proactively address
perception issues caused by questionable sales practices and product
features,” continued Mr. Jack. "Furthermore,
we need to proactively position annuities as income solutions –
guaranteed lifetime income is a valuable proposition for Boomer clients,
and this should be the key theme for all of our educational efforts.”
For more information on the NAVA 2007 Annual Meeting, please visit www.navanet.org.
Reporters interested in speaking with Mr. Jack can contact Andrew
Silver, public relations director for Jackson, at 303-224-7542 /
303-912-3362 or andrew.silver@jnli.com.
About Jackson National Life Insurance Company
With nearly $80 billion in assets (GAAP unaudited)(a), Jackson National
Life Insurance Company (Jackson) is an industry leader in variable,
fixed and fixed index annuities. The company also sells life insurance
and institutional products. Jackson markets its products in 49 states
and the District of Columbia through independent and regional
broker-dealers, financial institutions and independent insurance agents.
Jackson’s subsidiary, Jackson National Life
Insurance Company of New York®,
similarly markets annuities in the state of New York. Through its
affiliates and subsidiaries, Jackson also provides asset management,
retail mutual funds and retail brokerage services. For more information,
visit www.jnl.com.
(a) Jackson had $79.8 billion in total assets (GAAP unaudited) and
$72.2 billion in policy liabilities (GAAP unaudited) set aside to pay
primarily future policyowner benefits (as of 6/30/07). About NAVA
NAVA, Inc., the Association for Insured Retirement Solutions, is a
non-profit trade association located in suburban Washington, D.C. NAVA
provides a variety of services to the industry including educational
forums, research, and conferences aimed at furthering the development
and understanding of fixed and variable annuities, income annuities, and
variable life insurance. NAVA also maintains and supports an educational
website for consumers at www.RetireOnYourTerms.com.
Annuities and life insurance products are issued by Jackson National
Life Insurance Company (Home Office: Lansing, Michigan). Variable
products are distributed by Jackson National Life Distributors LLC. May
not be available in all states and state variations may apply. These
products have limitations and restrictions. Contact the Company for more
information.
Variable annuities involve investment risks and may lose value. An
annuity is a long-term, tax-deferred vehicle designed for retirement. An
annuity's earnings are taxable as ordinary income when distributed and,
if taken before age 59 1/2, may be subject to a 10% federal tax penalty.
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 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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