Annuity Product Update: Jackson, Nationwide, AIG

The new contract is a single-premium, deferred annuity that's filed as a fixed insurance product.

The index menu now includes the Morgan Stanley 3D Index option in addition to the S&P 500 price return index, the MSCI EAFE index, the J.P. Morgan Mozaic II index and a fixed account.

Another feature is a joint option feature. If one spouse in a couple dies, the feature allows the death benefit to be paid to either surviving spouse, no matter which spouse dies first, or which spouse owns  the contract.

A unit of American Insurance Group Inc. is giving purchasers of AIG's Polaris variable annuities an option they can use to choose from a menu of 77 different investment portfolios.

AIG Life & Retirement is making the long investment menu available through a new Polaris Income Plus Daily Flex feature.

The new feature is aimed at consumers who are getting help from financial professionals, AIG says.

AIG is also adding another Polaris feature, the Polaris Income Plus Flex feature.

Consumers can use both of the new features to add money to a Polaris contract after the first contract year, and to make contract adjustments in response to major life changes, such as the death of a spouse, AIG says.

— Read Jackson National Aims at Fee-Based, Investment-Only Market on ThinkAdvisor.

— Connect with ThinkAdvisor Life/Health on Facebook, LinkedIn and Twitter.