Jackson National Life Insurance Company acquired Reassure America Life Insurance Company in 2012. Although Jackson does not directly provide life insurance plans, it does offer coverage through its subsidiaries.
National Planning Holdings, Inc., a Jackson National Life Insurance Company subsidiary, comprises four broker-dealer firms that offer a range of investment options, including insurance products. Investment Centers of America, for example, offers life insurance products that are sourced from insurance companies and meet certain standards.
There are four types of life insurance: term life, universal life, variable universal life and whole life, according to About.com. Term life is paid for during a certain period, and the benefit ends when the payments end. Term life insurance does not have a cash value. Universal life insurance includes a contribution to a cash account that can be used to cover payments or can be borrowed. Variable Universal life insurance includes a contribution to investments such as mutual funds. Whole life insurance insures someone until death, whenever that may occur, and has a cash value feature.
In addition to insurance, Jackson brokers offer a number of variable and fixed annuity investment options. An annuity investment is a long-term investment that is tax free until the investor withdraws. Annuity investments are designed for retirement, and there may be a tax penalty on early withdrawals, explains Jackson.