New income gap analysis projects retirement income and expenses and offers potential solutions to cover expected gaps

Jackson National Life Insurance Company^® (Jackson^®) today announced enhancements to its proprietary retirement expense calculator tool, designed to help financial professionals effectively project their clients’ retirement expenses based on the federal government’s Consumer Expenditures Survey data. The updated tool, now named the Retirement Expense & Income Calculator, features an income gap analysis and a Proposed Gap Solution illustration powered by the Hedgeness Income Engine™.

“We frequently hear from financial professionals requesting an easier way to assess their clients’ needs and help identify gaps where their income is not protected,” said Tim Munsie, SVP, Product Strategy & Development, Jackson National Life Distributors LLC. “The recent enhancements we have made to our Retirement Expense & Income Calculator provide financial professionals with a clear illustration of where there is a gap and how protected income products can be beneficial as part of a holistic portfolio strategy to help provide certainty for their clients.”

The tool allows financial professionals to enter a few data points, including current income, retirement age and retirement state, and generate a custom client report that is personalized to their client’s needs. Enhancements include a new income gap analysis that now enables financial professionals to help their clients determine which expenses are essential for retirement and calculate the gap between those expenses and guaranteed income sources to provide the dollar amount needed to cover the income gap. If there is an identified gap, the new proposed gap solution then illustrates an amount that could be invested in a variable annuity with an optional income benefit to cover the income gap identified.

One of the key enhancements to the new tool is the proposed gap solution, which is powered by the Hedgeness Income Engine, the first cloud-based platform exclusively focused on retirement income outcomes.

“At its core, our technology enables data-driven objectivity sought by financial professionals and their clients when navigating through retirement income decisions and their possible outcomes,” said Jay Singh, CEO, Hedgeness Inc. “Our recent integration with Jackson empowers financial professionals to quantitatively assess the role of protected income for their clients in a transparent and statistically significant manner.”

Jackson is committed to providing education, service support and digital tools to increase the ease of doing business. Financial professionals who would like to learn more information about the planning calculators and tools Jackson offers can visit https://www.jackson.com/your-financial-future/calculators-and-tools.html.

ABOUT JACKSON

Jackson® is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Our range of annuity products, financial know-how, history of award-winning service* and streamlined experiences strive to reduce the confusion that complicates retirement plans. We take a balanced, long-term approach to responsibly serving all of our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community partners. We believe by providing clarity for all today, we can help drive better outcomes for tomorrow. For more information, visit www.jackson.com.

*SQM (Service Quality Measurement Group) Contact Center Awards Program for 2004 and 2006-2020. (To achieve world-class certification, 80% or more of call-center customers surveyed must have rated their experience as very satisfied, the highest rating possible.)

Jackson is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company^® (Home Office: Lansing, Michigan), and Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York). Jackson National Life Distributors LLC.

ABOUT HEDGENESS

Hedgeness enables financial professionals to personalize, analyze and visualize retirement income outcomes for their clients. We exclusively work with financial advisors, insurance carriers and asset managers by helping them better serve their retirement clients. Two of our key software products are the Hedgeness Income Engine and GRAIL (Guaranteed Retirement Analytics for Income and Legacy). For more information, visit www.hedgeness.com

Variable annuities are long-term, tax-deferred investments designed for retirement. The principal value of the variable annuity will fluctuate based on the performance of the underlying investment options and may lose value. Earnings are taxable as ordinary income when distributed. Individuals may be subject to a 10% additional tax for withdrawals before age 59½ unless an exception to the tax is met.

Add-on living benefits are available for an extra charge in addition to the ongoing fees and expenses of the variable annuity and may be subject to conditions and limitations. There is no guarantee that a variable annuity with an add-on living benefit will provide sufficient supplemental retirement income.

Guarantees are backed by the claims paying ability of the issuing insurance company and do not apply to the principal amount or the performance of a variable annuity's underlying investments.

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