GMWB Includes "Gross Up" Feature

- For at least the first 10 contract years in which no withdrawals are taken, a 6% annual bonus may be applied to the guaranteed withdrawal balance. According to the Perspective II prospectus, the purpose of the bonus is to incentivize policyholders to defer taking withdrawals. Hence, any withdrawal taken during the bonus period will cause the bonus not to be applied that year, the prospectus says.

- When it's time to take withdrawals, the policyholder can lock in guaranteed lifetime income at age 59 1/2 , the company says.

- Contract holders may also withdraw 4% to 7%, depending on age at the time of first withdrawal, of their guaranteed withdrawal balance every year for life, the company says.

- If there are earnings in the VA, policyholders may "gross up" their withdrawals to cover all or a portion of their tax liability related to withdrawing those earnings, the company indicates. This should allow owners to compensate for a potentially greater tax burden, net the same after-tax withdrawal amount every year, and arrange a better plan for retirement, regardless of market conditions, the insurer says.

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 company says.