2017 - NY Advisors 333-86933 Combined Document

485BPOS 1 nyadvisors.htm 485BPOS 2017 - NY Advisors 333-86933 Combined Document

As filed with the Securities and Exchange Commission on April 21, 2017

Commission File Nos. 333-86933

811-09577

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933



	Pre-Effective Amendment No.	[ ]

	Post-Effective Amendment No. 37	[X]

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940



	Amendment No. 38	[X]

JNLNY SEPARATE ACCOUNT II

(Exact Name of Registrant)

JACKSON NATIONAL LIFE INSURANCE COMPANY OF NEW YORK

(Name of Depositor)

2900 Westchester Avenue, Purchase, New York 10577

(Address of Depositor's Principal Executive Offices)

Depositor's Telephone Number, including Area Code: (517) 381-5500

Andrew J. Bowden, Esq., Senior Vice President, General Counsel and Secretary

Jackson National Life Insurance Company, 1 Corporate Way, Lansing, MI 48951

(Name and Address of Agent for Service)

Copy to:

Frank J. Julian, Esq., Assistant Vice President, Legal

Jackson National Life Insurance Company, 1 Corporate Way, Lansing, MI 48951



Approximate Date of Proposed Public Offering:

It is proposed that this filing will become effective (check appropriate box)
[ ]	immediately upon filing pursuant to paragraph (b)
[X]	on April 24, 2017 pursuant to paragraph (b)
[ ]	60 days after filing pursuant to paragraph (a)(1)
[ ]	on (date) pursuant to paragraph (a)(1).

If appropriate, check the following box:
[ ]	this post-effective amendment designates a new effective date for a previously filed post-effective amendment

Title of Securities Being Registered: the variable portion of Flexible Premium Fixed and Variable Deferred Annuity contracts

PERSPECTIVE ADVISORS

FIXED AND VARIABLE ANNUITY^®

Issued by

Jackson National Life Insurance Company of New York^® through

JNLNY Separate Account II

April 24, 2017

Effective September 16, 2002, this Perspective Advisors Fixed and Variable Annuity is no longer available for purchase by non-natural Owners (entities) other than qualified plans and certain trusts. Effective February 18, 2005, this Perspective Advisors Fixed and Variable Annuity is no longer available for purchase.

Please read this prospectus before you purchase a Perspective Advisors Fixed and Variable Annuity. It contains important information about the Contract that you should know before investing. This prospectus provides a description of the material rights and obligations under the Contract. Your Contract and any endorsements are the formal contractual agreement between you and the Company. It is important that you read the Contract and endorsements. You should keep this prospectus on file for future reference.

To learn more about the Perspective Advisers Fixed and Variable Annuity Contract, you can obtain a free copy of the Statement of Additional Information (“SAI”) dated April 24, 2017, by calling Jackson National Life Insurance Company of New York (“Jackson of NY^®”) at (800) 599-5651 or by writing Jackson of NY at: Jackson of NY Service Center, P.O. Box 30313, Lansing, Michigan 48909-7813. The SAI has been filed with the Securities and Exchange Commission (“SEC”) and is legally a part of this prospectus. The Table of Contents of the SAI appears at the end of this prospectus. The SEC maintains a website (http://www.sec.gov) that contains the SAI, material incorporated by reference and other information regarding registrants that file electronically with the SEC.

This prospectus also describes a variety of optional features, not all of which may be available at the time you are interested in purchasing one, as we reserve the right to prospectively restrict availability of the optional features. Broker-dealers selling the Contracts may limit the availability of an optional feature. Ask your representative about what optional features are or are not offered. If a particular optional feature that interests you is not offered, you may want to contact another broker-dealer to explore its availability. In addition, not all optional features may be available in combination with other optional features, as we also reserve the right to prospectively restrict the availability to elect certain features if certain other optional features have been elected. We reserve the right to limit the number of Contracts that you may purchase. Some optional features, including certain living benefits and death benefits, contain withdrawal restrictions that, if exceeded, may have a significant negative impact on the value of the feature and may cause the feature to prematurely terminate. Please confirm with us or your representative that you have the most current prospectus and supplements to the prospectus that describe the availability and any restrictions on the optional features.


•	Individual single premium deferred annuity


•	2 guaranteed fixed account options that offer a minimum interest rate that is guaranteed by Jackson of NY (the “Guaranteed Fixed Account options”), as may be made available by us, or as may be otherwise limited by us


•	Guaranteed Minimum Withdrawal Benefit options


•	Investment Divisions which purchase shares of the following mutual funds – all Class A shares (the “Funds”):

JNL Series Trust

JNL/American Funds Balanced Fund (formerly, JNL/Capital Guardian Global Balanced Fund)

JNL/American Funds^® Blue Chip Income and Growth Fund

JNL/American Funds Global Bond Fund

JNL/American Funds Global Small Capitalization Fund

JNL/American Funds Growth-Income Fund

JNL/American Funds International Fund

JNL/American Funds New World Fund

JNL Multi-Manager Mid Cap Fund

JNL Multi-Manager Small Cap Growth Fund

JNL Multi-Manager Small Cap Value Fund

JNL Institutional Alt 20 Fund

JNL Institutional Alt 35 Fund

JNL Institutional Alt 50 Fund

JNL Alt 65 Fund*

JNL/American Funds Balanced Allocation Fund

JNL/American Funds Growth Allocation Fund

JNL/AQR Large Cap Relaxed Constraint Equity Fund (formerly, JNL/Goldman Sachs U.S. Equity Flex Fund)

JNL/AQR Managed Futures Strategy Fund*

JNL/BlackRock Global Allocation Fund

JNL/BlackRock Large Cap Select Growth Fund

JNL/BlackRock Natural Resources Fund

JNL/Brookfield Global Infrastructure and MLP Fund

JNL/Causeway International Value Select Fund

JNL/Crescent High Income Fund

JNL/DFA Growth Allocation Fund

JNL/DFA Moderate Allocation Fund

JNL/DFA U.S. Core Equity Fund

JNL/DoubleLine ^® Shiller Enhanced CAPE ^® Fund

JNL/FPA + DoubleLine^® Flexible Allocation Fund

JNL/Franklin Templeton Founding Strategy Fund

JNL/Franklin Templeton Global Fund (formerly, JNL/Franklin Templeton Global Growth Fund)

JNL/Franklin Templeton Global Multisector Bond Fund

JNL/Franklin Templeton Income Fund

JNL/Franklin Templeton International Small Cap Growth Fund

JNL/Franklin Templeton Mutual Shares Fund

JNL/Goldman Sachs Core Plus Bond Fund

JNL/Goldman Sachs Emerging Markets Debt Fund*

JNL/Invesco China-India Fund

JNL/Invesco Global Real Estate Fund

JNL/Invesco International Growth Fund

JNL/Invesco Mid Cap Value Fund

JNL/Invesco Small Cap Growth Fund

JNL/JPMorgan MidCap Growth Fund

JNL/JPMorgan U.S. Government & Quality Bond Fund

JNL/Lazard Emerging Markets Fund*

JNL/Mellon Capital 10 x 10 Fund

JNL/Mellon Capital Index 5 Fund

JNL/Mellon Capital Emerging Markets Index Fund

JNL/Mellon Capital European 30 Fund

JNL/Mellon Capital Pacific Rim 30 Fund

JNL/Mellon Capital MSCI KLD 400 Social Index Fund

JNL/Mellon Capital S&P 500 Index Fund

JNL/Mellon Capital S&P 400 MidCap Index Fund

JNL/Mellon Capital Small Cap Index Fund

JNL/Mellon Capital International Index Fund

JNL/Mellon Capital Bond Index Fund

JNL/MFS Mid Cap Value Fund (formerly, JNL/Goldman Sachs Mid Cap Value Fund)

JNL/Neuberger Berman Strategic Income Fund

JNL/Oppenheimer Global Growth Fund

JNL/PIMCO Real Return Fund

JNL/PIMCO Total Return Bond Fund

JNL/PPM America Floating Rate Income Fund

JNL/PPM America High Yield Bond Fund

JNL/PPM America Mid Cap Value Fund

JNL/PPM America Small Cap Value Fund

JNL/PPM America Total Return Fund

JNL/PPM America Value Equity Fund

JNL/Red Rocks Listed Private Equity Fund*

JNL/T. Rowe Price Established Growth Fund

JNL/T. Rowe Price Mid-Cap Growth Fund

JNL/T. Rowe Price Short-Term Bond Fund

JNL/T. Rowe Price Value Fund

JNL/WMC Balanced Fund

JNL/WMC Government Money Market Fund (formerly, JNL/WMC Money Market Fund)

JNL/WMC Value Fund

JNL/S&P Competitive Advantage Fund

JNL/S&P Dividend Income & Growth Fund

JNL/S&P Intrinsic Value Fund

JNL/S&P Total Yield Fund

JNL/S&P Mid 3 Fund

JNL/S&P 4 Fund

JNL/S&P Managed Conservative Fund

JNL/S&P Managed Moderate Fund

JNL/S&P Managed Moderate Growth Fund

JNL/S&P Managed Growth Fund

JNL/S&P Managed Aggressive Growth Fund

JNL Disciplined Moderate Fund

JNL Disciplined Moderate Growth Fund

JNL Disciplined Growth Fund

JNL Variable Fund LLC

JNL/Mellon Capital Dow ^SM Index Fund

JNL/Mellon Capital Global 30 Fund

JNL/Mellon Capital Nasdaq^® 100 Fund

JNL/Mellon Capital S&P^® SMid 60 Fund

JNL/Mellon Capital JNL 5 Fund

JNL/Mellon Capital Communications Sector Fund*

JNL/Mellon Capital Consumer Brands Sector Fund

JNL/Mellon Capital Financial Sector Fund

JNL/Mellon Capital Healthcare Sector Fund

JNL/Mellon Capital Oil & Gas Sector Fund

JNL/Mellon Capital Technology Sector Fund

Jackson Variable Series Trust

JNL/DoubleLine^® Total Return Fund

JNL/PIMCO Credit Income Fund

JNL/T. Rowe Price Capital Appreciation Fund

*Effective August 29, 2011, the Investment Divisions of the Separate Account investing in the JNL Alt 65 Fund; JNL/Goldman Sachs Emerging Markets Debt Fund; JNL/Lazard Emerging Markets Fund; JNL/Mellon Capital Global Alpha Fund (the JNL/AQR Managed Futures Strategy Fund effective April 27, 2015); and JNL/Red Rocks Listed Private Equity Fund stopped accepting allocations and/or transfers. Effective September 15, 2014, the Investment Division investing in the JNL/Mellon Capital Communications Sector Fund stopped accepting any additional allocations or transfers, but the Fund is available as an underlying Fund for a Fund of Funds. Please see “Investment Divisions” on page 13 for more information.

Underscored are the Funds that are newly available or recently underwent name changes, as may be explained in the accompanying parenthetical. The Funds are not the same mutual funds that you would buy directly from a retail mutual fund company or through your stockbroker. The summary prospectuses for the Funds are attached to this prospectus.

In addition, the following Previously Offered Funds merged into the corresponding Currently Offered Funds effective April 24, 2017:



Previously Offered Funds	Currently Offered Funds
JNL/Morgan Stanley Mid Cap Growth Fund	JNL/T. Rowe Price Mid-Cap Growth Fund
JNL/Mellon Capital S&P^® 24 Fund	Jnl/Mellon Capital JNL 5 Fund

If you have Contract Value that was transferred to an Investment Division investing in a Currently Offered Fund as a result of a merger, you may transfer all or a portion of your Contract Value out of such Investment Division into the other investment options available under your Contract. If the transfer is completed within 60 days following April 24, 2017, the transfer will not be assessed a transfer charge or be treated as a transfer for the purpose of determining how many subsequent transfers may be made in a Contract Year without charge.

The SEC has not approved or disapproved the Perspective Advisors Fixed and Variable Annuity or passed upon the adequacy of this prospectus. It is a criminal offense to represent otherwise.

Jackson is relying on SEC Rule 12h-7, which exempts insurance companies from filing periodic reports under the Securities Exchange Act of 1934 with respect to variable annuity contracts that are registered under the Securities Act of 1933 and regulated as insurance under state law.

• Not FDIC/NCUA insured • Not Bank/CU guaranteed • May lose value • Not a deposit • Not insured by any federal agency



TABLE OF CONTENTS
KEY FACTS	1
FEES AND EXPENSES TABLES	3
Owner Transaction Expenses	3
Periodic Expenses	4
Total Annual Fund Operating Expenses	7
EXAMPLE	11
CONDENSED FINANCIAL INFORMATION	12
THE ANNUITY CONTRACT	12
JACKSON OF NY	12
THE GUARANTEED FIXED ACCOUNT	13
THE SEPARATE ACCOUNT	13
INVESTMENT DIVISIONS	13
JNL Series Trust	14
JNL Variable Fund LLC	28
Jackson Variable Series Trust	29
Voting Rights	30
Substitution	30
CONTRACT CHARGES	30
Mortality and Expense Risk Charge	30
Administration Charge	30
Annual Contract Maintenance Charge	30
Transfer Fee	31
Commutation Fee	31
7% Guaranteed Minimum Withdrawal Benefit (“SafeGuard 7 Plus”) Charge	31
Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up (“SafeGuard Max”) Charge	31
5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 5”) Charge	32
6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 6”) Charge	32
5% Guaranteed Minimum Withdrawal Benefit Without Step-Up (“MarketGuard 5”) Charge	33
5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Advantage”) Charge	33
For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“LifeGuard Ascent”) Charge	34
Joint For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“LifeGuard Ascent With Joint Option”) Charge	34
For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom GMWB”) Charge	35
Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom GMWB With Joint Option”) Charge	35
For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom 6 GMWB”) Charge	36
Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom 6 GMWB With Joint Option”) Charge	37



Other Expenses	37
Premium Taxes	37
Income Taxes	37
DISTRIBUTION OF CONTRACTS	37
PURCHASES	40
Minimum Premium	40
Allocations of Premium	40
Capital Protection Program	40
Accumulation Units	40
TRANSFERS AND FREQUENT TRANSFER RESTRICTIONS	41
Restrictions on Transfers: Market Timing	41
TELEPHONE AND INTERNET TRANSACTIONS	42
The Basics	42
What You Can Do and How	42
What You Can Do and When	42
How to Cancel a Transaction	42
Our Procedures	42
ACCESS TO YOUR MONEY	43
Guaranteed Minimum Withdrawal Benefit Considerations	43
Guaranteed Minimum Withdrawal Benefit Important Special Considerations	44
7% Guaranteed Minimum Withdrawal Benefit (“SafeGuard 7 Plus”)	45
Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up (“SafeGuard Max”)	48
5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 5”)	53
6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 6”)	57
5% Guaranteed Minimum Withdrawal Benefit Without Step-Up (“MarketGuard 5”)	60
5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Advantage”)	63
For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“LifeGuard Ascent”)	70
Joint For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“LifeGuard Ascent With Joint Option”)	77
For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom GMWB”)	84
Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom GMWB With Joint Option”)	95
For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom 6 GMWB”)	106
Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom 6 GMWB With Joint Option”)	115
Systematic Withdrawal Program	125
Suspension of Withdrawals or Transfers	125
INCOME PAYMENTS (THE INCOME PHASE)	126
Income Payments from Investment Divisions	126
Income Options	127



DEATH BENEFIT	127
Death of Owner Before the Income Date	127
Special Spousal Continuation Option	128
Death of Owner On or After the Income Date	128
Death of Annuitant	128
TAXES	129
Contract Owner Taxation	129
Tax-Qualified and Non-Qualified Contracts	129
Non-Qualified Contracts – General Taxation	129
Non-Qualified Contracts – Aggregation of Contracts	129
Non-Qualified Contracts – Withdrawals and Income Payments	129
Non-Qualified Contracts – Required Distributions	130
Tax-Qualified Contracts – Withdrawals and Income Payments	130
Withdrawals – Tax-Sheltered Annuities	130
Withdrawals – Roth IRAs	130
Constructive Withdrawals – Investment Adviser Fees	130
Extension of Latest Income Date	130
Death Benefits	130
IRS Approval	130
Assignment	130
Diversification	131
Owner Control	131
Withholding	131
Jackson of NY Taxation	131
OTHER INFORMATION	132
Dollar Cost Averaging	132
Earnings Sweep	132
Rebalancing	132
Free Look	132
Advertising	132
Modification of the Contract	132
Confirmation of Transactions	133
Legal Proceedings	133
TABLE OF CONTENTS OF STATEMENT OF ADDITIONAL INFORMATION	133
APPENDIX A (Trademarks, Services Marks, and Related Disclosures)	A-1
APPENDIX B (GMWB Prospectus Examples)	B-1
APPENDIX C (Financial Institution Support)	C-1
APPENDIX D (Accumulation Unit Values)	D-1

KEY FACTS



Questions: If you have any questions about your Contract, you may contact us at:
Jackson of NY Service Center:		1 (800) 599-5651 (8 a.m. - 8 p.m. ET)
	Mail Address:	P.O. Box 30313, Lansing, MI 48909-7813
	Delivery Address:	1 Corporate Way, Lansing, MI 48951
Jackson of NY IMG Service Center: (for Contracts purchased through a bank or another financial institution)		1 (888) 464-7779 (8 a.m. - 8 p.m. ET)
	Mail Address:	P.O. Box 30901, Lansing, MI 48909-8401
	Delivery Address:	1 Corporate Way, Lansing, MI 48951
Home Office:		2900 Westchester Avenue, Purchase, New York 10577



The Annuity Contract	The single premium fixed and variable annuity Contract offered by Jackson of NY provides a means for allocating on a tax-deferred basis for non-qualified Contracts to the Guaranteed Fixed Account of Jackson of NY, as may be made available by us, or as may be otherwise limited by us, and investment divisions (the “Investment Divisions”) (collectively, the “Allocation Options”). There may be periods when we do not offer any Guaranteed Fixed Account options, or impose special transfer requirements on the Guaranteed Fixed Account options. The Contract is intended for retirement savings or other long-term investment purposes and provides for a death benefit and income options.
Allocation Options	You can put money into any of the Allocation Options but you may allocate your Contract Value to no more than 99 Investment Divisions and the Guaranteed Fixed Account at any one time.
Expenses	The Contract has insurance features and investment features, and there are costs related to each. Jackson of NY makes a deduction for its insurance charges that is equal to 1.50% of the daily value of the Contracts invested in the Investment Divisions. This charge does not apply to the Guaranteed Fixed Account. During the accumulation phase, Jackson of NY deducts a $30 annual contract maintenance charge from your Contract.
	If you select any one of our GMWBs, Jackson deducts an additional charge, the maximum of which ranges from 0.51% to 1.86% of the Guaranteed Withdrawal Balance (GWB). While the charge is deducted from your Contract Value, it is based on the GWB. For more information, including how the GWB is calculated, please see “Contract Charges.”
	There are also investment charges which are expected to range, on an annual basis, from 0.55% to 2.18% of the average daily value of a Fund, depending on the Fund.
Purchases	You can buy a Contract for $25,000 or more. You cannot add subsequent premiums to your Contract. We reserve the right to restrict availability or impose restrictions on the Guaranteed Fixed Account options. We reserve the right to refuse initial and any or all subsequent premium payments. We expect to profit from certain charges assessed under the Contract (i.e., the mortality and expense risk charge).



Access to Your Money	During the accumulation phase, there are a number of ways to take money out of your Contract, generally subject to a charge or adjustment. You may have to pay income tax and a tax penalty on any money you take out.
Income Payments	You may choose to receive regular income from your annuity. During the income phase, you have the same variable allocation options you had during the accumulation phase.
Death Benefit	If you die before moving to the income phase, the person you have chosen as your Beneficiary will receive a death benefit.
Free Look	You may return your Contract to the selling agent or to Jackson of NY within 20 days after receiving it. Jackson of NY will return the Contract Value in the Investment Divisions plus any fees and expenses deducted from the premium prior to allocation to the Investment Divisions plus the full amount of premium you allocated to the Guaranteed Fixed Account, minus any withdrawals from the Guaranteed Fixed Account. We will determine the Contract Value in the Investment Divisions as of the date the Contract is received by Jackson of NY or the date you return it to the selling agent. Jackson of NY will return premium payments where required by law.
Taxes	Under the Internal Revenue Code you generally will not be taxed on the earnings on the money held in your Contract until you take money out (this is referred to as tax-deferral). There are different rules as to how you will be taxed depending on how you take the money out and whether your Contract is non-qualified or purchased as part of a qualified plan.

FEES AND EXPENSES TABLES

The following tables describe the fees and expenses that you will pay when purchasing, owning and surrendering the Contract. The first table (and footnotes) describes the fees and expenses that you will pay at the time that you purchase the Contract, surrender the Contract or transfer cash value between investment options.




Owner Transaction Expenses ¹

	Withdrawal Charge		None

	Commutation Fee: Upon a total withdrawal after income payments have commenced under income option 4, or if after death during the period for which payments are guaranteed under income option 3 and Beneficiary elects a lump sum payment, the amount received will be reduced by (a) minus (b) where: • (a) = the present value of the remaining income payments (as of the date of calculation) for the period for which payments are guaranteed to be made, discounted at the rate assumed in calculating the initial payment; and • (b) = the present value of the remaining income payments (as of the date of calculation) for the period for which payments are guaranteed to be made, discounted at a rate no more than 1% higher than the rate used in (a).

	Transfer Charge ²
		Per transfer after 15 in a Contract Year	$25

	Expedited Delivery Charge ³		$22.50


¹	See “Contract Charges.”


²	We do not count transfers in conjunction with dollar cost averaging, earnings sweep, automatic rebalancing, and periodic automatic transfers.


³	When, at your request, we incur the expense of providing expedited delivery of your partial withdrawal or complete surrender, we will assess the following charges: $20 for wire service and $10 for overnight delivery ($22.50 for Saturday delivery). Interest rate adjustments will not be charged on wire/overnight fees.

The next table (and footnotes) describes the fees and expenses that you will pay periodically during the time that you own the Contract, not including the Funds' fees and expenses.




Periodic Expenses

	Base Contract

	Annual Contract Maintenance Charge			$30

	Separate Account Annual Expenses
		Annual percentage of average daily account value of Investment Divisions		1.50%

	Mortality And Expense Risk Charge		1.35%

	Administration Charge		0.15%


	Total Separate Account Annual Expenses for Base Contract			1.50%




	Optional Endorsements - The following Guaranteed Minimum Withdrawal Benefit (GMWB) optional endorsements are available under the Contract. You may select one from the grouping below.


	7% Guaranteed Minimum Withdrawal Benefit (GMWB) Maximum Annual Charge (no longer offered as of March 31, 2008)(“SafeGuard 7 Plus^®”) ⁴		0.75%
	Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up Maximum Annual Charge (no longer offered as of May 1, 2010)(“SafeGuard Max^®”) ⁵		0.81%
	5% GMWB With Annual Step-Up Maximum Annual Charge (no longer offered as of May 1, 2011) (“AutoGuard 5^SM”) ⁶		1.47%
	6% GMWB With Annual Step-Up Maximum Annual Charge (no longer offered as of May 1, 2011) (“AutoGuard 6^SM”) ⁷		1.62%
	5% GMWB Without Step-Up Maximum Annual Charge (no longer offered as of October 6, 2008) (“MarketGuard 5^®”) ⁸		0.51%
	5% for Life GMWB With Bonus and Annual Step-Up Maximum Annual Charge (no longer offered as of March 31, 2008)(“LifeGuard Advantage^SM”) ⁹		1.50%
	For Life GMWB With Annual Step-Up Maximum Annual Charge (no longer offered as of March 31, 2008)(“LifeGuard Ascent^SM “) ¹⁰		1.50%
	Joint For Life GMWB With Annual Step-Up Maximum Annual Charge (no longer offered as of March 31, 2008)(“LifeGuard Ascent^SM With Joint Option”) ¹¹		1.71%
	For Life GMWB With Bonus and Annual Step-Up Maximum Annual Charge (no longer offered as of September 28, 2009) (“LifeGuard Freedom^® GMWB^SM”) ¹²		1.50%
	Joint For Life GMWB With Bonus and Annual Step-Up Maximum Annual Charge (no longer offered as of September 28, 2009)(“LifeGuard Freedom^® GMWB With Joint Option^SM”) ¹³		1.86%
	For Life GMWB With Bonus and Annual Step-Up Maximum Annual Charge (no longer offered as of October 11, 2010) (“LifeGuard Freedom 6^® GMWB”) ¹⁴		1.50%
	Joint For Life GMWB With Bonus and Annual Step-Up Maximum Annual Charge (no longer offered as of October 11, 2010) (“LifeGuard Freedom 6^® GMWB With Joint Option”) ¹⁵		1.86%

⁴

The charge is monthly, currently 0.035% (0.42% annually) of the Guaranteed Withdrawal Balance (GWB), subject to a maximum annual charge of 0.75% as used in the Table. The charge is deducted at the end of each Contract month, or upon termination of the endorsement, from the Investment Divisions to which your Contract Value is allocated on a pro rata basis. We deduct the charge from the Investment Divisions by canceling Accumulation Units; the charge is not part of the Accumulation Unit calculation.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information, including how the GWB is calculated, please see “7% Guaranteed Minimum Withdrawal Benefit” beginning on page 45. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus.


⁵	The current charge is 0.0375% (0.45% annually) of the GWB, subject to a maximum annual charge of 0.81% as used in the Table. We reserve the right to prospectively change the current charge: on new Contracts; if you select this benefit after your Contract is issued; or upon election of a step-up – subject to the applicable maximum annual charge.

The charge is deducted at the end of each Contract Month, or upon termination of the endorsement, from the Investment Divisions to which your Contract Value is allocated on a pro rata basis. We deduct the charge from the Investment Divisions by canceling Accumulation Units; the charge is not part of the Accumulation Unit calculation.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information, including how the GWB is calculated, please see “Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up” beginning on page 48. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus.


⁶	The current charge is 0.055% (0.66% annually) of the GWB, subject to a maximum annual charge of 1.47% as used in the Table. We reserve the right to prospectively change the current charge: on new Contracts; if you select this benefit after your Contract is issued; or with a step-up that you request (not on step-ups that are automatic) – subject to the applicable maximum annual charge.

The charge is deducted at the end of each Contract month, or upon termination of the endorsement, from the Investment Divisions to which your Contract Value is allocated on a pro rata basis. We deduct the charge from the Investment Divisions by canceling Accumulation Units; the charge is not part of the Accumulation Unit calculation.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information, including how the GWB is calculated, please see “5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 53. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus.


⁷	The current charge is 0.0725% (0.87% annually) of the GWB, subject to a maximum annual charge of 1.62% as used in the Table. We reserve the right to prospectively change the current charge: on new Contracts; if you select this benefit after your Contract is issued; or with a step-up that you request (not on step-ups that are automatic) – subject to the applicable maximum annual charge.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information, including how the GWB is calculated, please see “6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 57. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus.


⁸	The current charge is 0.0175% (0.21% annually) of the GWB, subject to a maximum annual charge of 0.51% as used in the Table. We reserve the right to prospectively change the current charge on new Contracts, or before you select this benefit if after your Contract is issued, subject to the applicable maximum annual charge.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information, including how the GWB is calculated, please see “5% Guaranteed Minimum Withdrawal Benefit Without Step-Up” beginning on page 60.


⁹	1.50% is the maximum annual charge of the 5% for Life GMWB With Bonus and Annual Step-Up for the following age groups: 55-59, 60-64, and 65-69, which charge is payable monthly. The charge for the 5% for Life GMWB With Annual Step-Up varies by age group. The below table has the maximum and current charges for all age groups.



5% For Life GMWB With Bonus and Annual Step-Up
Annual Charge	Maximum	Current
Ages 45 – 49	1.02%÷12	0.57%÷12
50 – 54	1.17%÷12	0.72%÷12
55 – 59	1.50%÷12	0.96%÷12
60 – 64	1.50%÷12	0.96%÷12
65 – 69	1.50%÷12	0.96%÷12
70 – 74	0.90%÷12	0.57%÷12
75 – 80	0.66%÷12	0.42%÷12
Charge Basis	GWB
Charge Frequency	Monthly

We reserve the right to prospectively change the current charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the applicable maximum annual charge. We may also change the current charge when you elect a step-up (not on step-ups that are automatic), again subject to the applicable maximum annual charge.

For more information about the charge for this endorsement, please see “5% for Life GMWB With Bonus and Annual Step-Up Charge” beginning on page 33. For more information about how the endorsement works, please see “5% For Life GMWB With Bonus and Annual Step-Up” beginning on page 63.

¹⁰

The current charge is 0.08% (0.96% annually) of the GWB, subject to a maximum annual charge of 1.50% as used in the Table. We reserve the right to prospectively change the current charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the applicable maximum annual charge. We may also change the current charge when you elect a step-up (not on step-ups that are automatic), again subject to the applicable maximum annual charge.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information about the charge for this endorsement, please see “For Life GMWB With Annual Step-Up Charge” beginning on page 34. For more information about how the endorsement works, please see “For Life GMWB With Annual Step-Up” beginning on page 70.

¹¹

The current charge is 0.0975% (1.17% annually) of the GWB, subject to a maximum annual charge of 1.71% as used in the Table. We reserve the right to prospectively change the current charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the applicable maximum annual charge. We may also change the current charge when you elect a step-up (not on step-ups that are automatic), again subject to the applicable maximum annual charge.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information about the charge for this endorsement, please see “Joint For Life GMWB With Annual Step-Up Charge” beginning on page 34. For more information about how the endorsement works, please see “Joint For Life GMWB With Annual Step-Up” beginning on page 77.

¹²

The current charge is 0.08% (0.96% annually) of the GWB, subject to a maximum annual charge of 1.50% as used in the Table. We reserve the right to prospectively change the current charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the applicable maximum annual charge. We may also change the current charge when there is a step-up on or after the fifth Contract Anniversary (eleventh Contract Anniversary if this endorsement is added to the Contract before January 12, 2009), again subject to the maximum annual charge.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information about the charge for this endorsement, please see “For Life GMWB With Bonus and Annual Step-Up Charge” beginning on page 35. For more information about how the endorsement works, please see “For Life GMWB With Bonus and Annual Step-Up “beginning on page 84.

¹³

The current charge is 0.105% (1.26% annually) of the GWB, subject to a maximum annual charge of 1.86% as used in the Table. We reserve the right to prospectively change the current charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the applicable maximum annual endorsement is added to the Contract before January 12, 2009), again subject to the maximum annual charge.

While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The GWB is the guaranteed amount available for future periodic withdrawals. If you select a GMWB when you purchase your Contract, the GWB is generally your initial premium payment, net of taxes and adjusted for any subsequent premium payments and withdrawals. If the GMWB is elected after the issue date, the GWB is generally your Contract Value on the date the endorsement is added, adjusted for any subsequent premium payments and withdrawals. For more information about the charge for this endorsement, please see “Joint Life GMWB With Bonus and Annual Step-Up Charge” beginning on page 37. For more information about how the endorsement works, please see “Joint For Life GMWB With Bonus and Annual Step-Up “beginning on page 95.

¹⁴

The current charge is 0.08% (0.96 annually) of the GWB, subject to a maximum annual charge of 1.50% as used in the Table. We reserve the right to prospectively change the current charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the applicable maximum annual charge. We may also change the current charge when there is a step-up on or after the fifth Contract Anniversary, again subject to the maximum annual charge.

For more information about the charge for this endorsement, please see “For Life GMWB With Bonus and Annual Step-Up Charge” beginning on page 34. For more information about how the endorsement works, please see “For Life GMWB With Bonus and Annual Step-Up” beginning on page 106.

¹⁵

The current charge is 0.105% (1.26% annually) of the GWB, subject to a maximum annual charge of 1.86% as used in the Table. We reserve the right to prospectively change the current charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the applicable maximum annual charge. We may also change the current charge when there is a step-up on or after the fifth Contract Anniversary, again subject to the maximum annual charge.

For more information about the charge for this endorsement, please see “Joint Life GMWB With Bonus and Annual Step-Up Charge” beginning on page 35. For more information about how the endorsement works, please see “Joint For Life GMWB With Bonus and Annual Step-Up” beginning on page 115.

The next item shows the minimum and maximum total annual operating expenses charged by the Funds that you may pay periodically during the time that you own the Contract.

Total Annual Fund Operating Expenses

(Expenses that are deducted from Fund assets, including management and administration fees, distribution (12b-1) fees and other expenses.)

Minimum: 0.55%

Maximum: 2.18%

More detail concerning each Fund's fees and expenses is below. But please refer to the Funds' prospectuses for even more information on the Funds, including investment objectives, performance, and information about Jackson National Asset Management, LLC^®(“JNAM”), the Funds' Adviser and Administrator, as well as the sub-advisers.



Fund Operating Expenses (As an annual percentage of each Fund's average daily net assets) Fund Name	Management Fee	Distribution and/or Service (12b-1) Fees	Other Expenses	Acquired Fund Fees and Expenses	Total Annual Fund Operating Expenses	Contractual Fee Waiver and/or Expense Reimbursement	Net Total Annual Fund Operating Expenses
JNL Series Trust
JNL/American Funds Balanced	0.92% ^A	0.20% ^A	0.17% ^{A, G}	0.00%	1.29% ^A	(0.40%) ^B	0.89% ^A,B,I
JNL/American Funds^® Blue Chip Income and Growth	1.06% ^A	0.20% ^A	0.17%^{A, G}	0.00%	1.43% ^A	(0.43%) ^B	1.00% ^A,B
JNL/American Funds Global Bond	1.23% ^A	0.20% ^A	0.19% ^{A, G}	0.00%	1.62% ^A	(0.53%) ^B	1.09% ^A,B,I
JNL/American Funds Global Small Capitalization	1.45% ^A	0.20% ^A	0.19% ^{A, G}	0.00%	1.84% ^A	(0.55%) ^B	1.29% ^A,B
JNL/American Funds Growth-Income	0.93% ^A	0.20% ^A	0.18% ^{A, G}	0.00%	1.31% ^A	(0.35%) ^B	0.96% ^A,B
JNL/American Funds International	1.35% ^A	0.20% ^A	0.19% ^{A, G}	0.00%	1.74% ^A	(0.55%) ^B	1.19% ^A,B
JNL/American Funds New World	1.77% ^A	0.20% ^A	0.21% ^{A, G}	0.00%	2.18% ^A	(0.75%) ^B	1.43% ^A,B
JNL/DFA U.S. Core Equity	0.58%	0.20%	0.10% ^F	0.00%	0.88%	(0.08%) ^C	0.80% ^C
JNL/Goldman Sachs Emerging Markets Debt	0.73%	0.20%	0.15% ^G	0.00%	1.08%	(0.00%) ^C	1.08% ^C
JNL/MFS Mid Cap Value	0.70%	0.20%	0.11% ^F	0.01%	1.02%	(0.01%) ^C	1.01% ^C
JNL/Goldman Sachs Core Plus Bond	0.56%	0.20%	0.11% ^F	0.02%	0.89%	(0.01%) ^C	0.88%^C
JNL/Invesco Small Cap Growth	0.81%	0.20%	0.10% ^F	0.01%	1.12%	(0.01%) ^C	1.11% ^C
JNL/Mellon Capital S&P 500 Index	0.23%	0.20%	0.12% ^F	0.00%	0.55%	(0.01%) ^C	0.54% ^C
JNL/Oppenheimer Global Growth	0.62%	0.20%	0.15% ^G	0.01%	0.98%	(0.01%) ^C	0.97%^C
JNL/T. Rowe Price Value	0.61%	0.20%	0.10% ^F	0.00%	0.91%	(0.00%) ^C	0.91% ^C
JNL/WMC Government Money Market	0.26%	0.20%	0.10% ^F	0.00%	0.56%	(0.00%) ^D	0.56% ^D



Fund Operating Expenses (As an annual percentage of each Fund's average daily net assets) Fund Name	Management Fee	Distribution and/or Service (12b-1) Fees	Other Expenses	Acquired Fund Fees and Expenses	Total Annual Fund Operating Expenses
JNL Series Trust
JNL Institutional Alt 20	0.12%	0.00%	0.05% ^E	1.04%	1.21%
JNL Institutional Alt 35	0.11%	0.00%	0.06% ^E	1.15%	1.32%
JNL Institutional Alt 50	0.11%	0.00%	0.05% ^E	1.27%	1.43%
JNL Alt 65	0.14%	0.00%	0.06% ^E	1.40%	1.60%
JNL/American Funds Balanced Allocation	0.29%	0.20%	0.16% ^G	0.47%	1.12%
JNL/American Funds Growth Allocation	0.30%	0.20%	0.15% ^G	0.49%	1.14%
JNL/AQR Large Cap Relaxed Constraint Equity	0.79%	0.20%	0.85% ^G	0.01%	1.85% ^I
JNL/AQR Managed Futures Strategy	0.93%	0.20%	0.16% ^G	0.09%	1.38%
JNL/BlackRock Natural Resources	0.64%	0.20%	0.15% ^G	0.01%	1.00%
JNL/BlackRock Global Allocation	0.71%	0.20%	0.16% ^G	0.01%	1.08%
JNL/BlackRock Large Cap Select Growth	0.58%	0.20%	0.11% ^F	0.00%	0.89%



Fund Operating Expenses (As an annual percentage of each Fund's average daily net assets) Fund Name	Management Fee	Distribution and/or Service (12b-1) Fees	Other Expenses	Acquired Fund Fees and Expenses	Total Annual Fund Operating Expenses
JNL/Brookfield Global Infrastructure and MLP	0.80%	0.20%	0.15% ^G	0.00%	1.15%
JNL/Crescent High Income	0.65%	0.20%	0.15% ^G	0.03%	1.03%
JNL/DFA Growth Allocation	0.30%	0.20%	0.15% ^G	0.29%	0.94%
JNL/DFA Moderate Allocation	0.30%	0.20%	0.15% ^G	0.26%	0.91%
JNL/DoubleLine^® Shiller Enhanced CAPE^®	0.74%	0.20%	0.15% ^G	0.02%	1.11%
JNL Multi-Manager Mid Cap	0.74%	0.20%	0.15% ^G	0.01%	1.10%
JNL Multi-Manager Small Cap Growth	0.67%	0.20%	0.11% ^F	0.00%	0.98%
JNL/FPA + DoubleLine^® Flexible Allocation	0.82%	0.20%	0.20%^G	0.01%	1.23% ^I
JNL/Franklin Templeton Founding Strategy	0.00%	0.00%	0.05% ^E	1.00%	1.05%
JNL/Franklin Templeton Global	0.66%	0.20%	0.15% ^G	0.01%	1.02%
JNL/Franklin Templeton Global Multisector Bond	0.68%	0.20%	0.15%^G	0.02%	1.05%
JNL/Franklin Templeton Income	0.62%	0.20%	0.11% ^F	0.02%	0.95%
JNL/Franklin Templeton International Small Cap Growth	0.92%	0.20%	0.16% ^G	0.01%	1.29% ^I
JNL/Franklin Templeton Mutual Shares	0.72%	0.20%	0.11% ^F	0.01%	1.04%
JNL/Invesco China-India	0.90%	0.20%	0.17% ^G	0.00%	1.27%
JNL/Invesco Global Real Estate	0.70%	0.20%	0.15% ^G	0.00%	1.05%
JNL/Invesco International Growth	0.63%	0.20%	0.15% ^G	0.01%	0.99%
JNL/Invesco Mid Cap Value	0.68%	0.20%	0.10% ^F	0.01%	0.99%
JNL Multi-Manager Small Cap Value	0.78%	0.20%	0.10% ^F	0.00%	1.08%
JNL/Causeway International Value Select	0.64%	0.20%	0.16% ^G	0.01%	1.01%
JNL/JPMorgan MidCap Growth	0.63%	0.20%	0.10% ^F	0.00%	0.93%
JNL/JPMorgan U.S. Government & Quality Bond	0.38%	0.20%	0.10% ^F	0.01%	0.69%
JNL/Lazard Emerging Markets	0.88%	0.20%	0.16% ^G	0.00%	1.24%
JNL/Mellon Capital Emerging Markets Index	0.38%	0.20%	0.18% ^G	0.00%	0.76%
JNL/Mellon Capital European 30	0.29%	0.20%	0.16% ^G	0.00%	0.65%
JNL/Mellon Capital MSCI KLD 400 Social Index	0.35%	0.20%	0.21% ^G	0.00%	0.76%
JNL/Mellon Capital Pacific Rim 30	0.31%	0.20%	0.15% ^G	0.00%	0.66%
JNL/Mellon Capital S&P 400 MidCap Index	0.24%	0.20%	0.13%^F	0.00%	0.57%
JNL/Mellon Capital Small Cap Index	0.25%	0.20%	0.12% ^F	0.00%	0.57%
JNL/Mellon Capital International Index	0.25%	0.20%	0.18% ^G	0.00%	0.63%
JNL/Mellon Capital Bond Index	0.27%	0.20%	0.10% ^F	0.01%	0.58%
JNL/Mellon Capital Index 5	0.00%	0.00%	0.05% ^E	0.58%	0.63%
JNL/Mellon Capital 10 x 10	0.00%	0.00%	0.05% ^E	0.61%	0.66%
JNL/Neuberger Berman Strategic Income	0.59%	0.20%	0.15% ^G	0.05%	0.99%
JNL/PIMCO Real Return	0.49%	0.20%	0.36% ^F	0.00%	1.05%
JNL/PIMCO Total Return Bond	0.50%	0.20%	0.14% ^F	0.00%	0.84%
JNL/PPM America Floating Rate Income	0.61%	0.20%	0.17% ^G	0.01%	0.99% ^I
JNL/PPM America High Yield Bond	0.43%	0.20%	0.11% ^F	0.03%	0.77%
JNL/PPM America Mid Cap Value	0.75%	0.20%	0.10% ^F	0.00%	1.05%
JNL/PPM America Small Cap Value	0.74%	0.20%	0.11% ^F	0.00%	1.05%
JNL/PPM America Total Return	0.50%	0.20%	0.10% ^F	0.01%	0.81%
JNL/PPM America Value Equity	0.55%	0.20%	0.10% ^F	0.00%	0.85%
JNL/Red Rocks Listed Private Equity	0.82%	0.20%	0.15% ^G	0.88%	2.05%
JNL/T. Rowe Price Established Growth	0.56%	0.20%	0.09% ^J	0.00%	0.85%
JNL/T. Rowe Price Mid-Cap Growth	0.70%	0.20%	0.10% ^F	0.00%	1.00%
JNL/T. Rowe Price Short-Term Bond	0.40%	0.20%	0.11% ^F	0.00%	0.71%
JNL/WMC Balanced	0.43%	0.20%	0.10% ^F	0.01%	0.74%
JNL/WMC Value	0.47%	0.20%	0.11% ^F	0.00%	0.78%
JNL/S&P Managed Conservative	0.10%	0.00%	0.05% ^E	0.91%	1.06%



Fund Operating Expenses (As an annual percentage of each Fund's average daily net assets) Fund Name	Management Fee	Distribution and/or Service (12b-1) Fees	Other Expenses	Acquired Fund Fees and Expenses	Total Annual Fund Operating Expenses
JNL/S&P Managed Moderate	0.09%	0.00%	0.05% ^E	0.93%	1.07%
JNL/S&P Managed Moderate Growth	0.08%	0.00%	0.06% ^E	0.95%	1.09%
JNL/S&P Managed Growth	0.09%	0.00%	0.05% ^E	0.97%	1.11%
JNL/S&P Managed Aggressive Growth	0.09%	0.00%	0.06% ^E	0.98%	1.13%
JNL Disciplined Moderate	0.10%	0.00%	0.05% ^E	0.84%	0.99%
JNL Disciplined Moderate Growth	0.09%	0.00%	0.06% ^E	0.84%	0.99%
JNL Disciplined Growth	0.11%	0.00%	0.05% ^E	0.82%	0.98%
JNL/S&P Competitive Advantage	0.36%	0.20%	0.10% ^F	0.00%	0.66%
JNL/S&P Dividend Income & Growth	0.36%	0.20%	0.09% ^J	0.00%	0.65%
JNL/S&P Intrinsic Value	0.36%	0.20%	0.10% ^F	0.00%	0.66%
JNL/S&P Total Yield	0.36%	0.20%	0.11% ^F	0.00%	0.67%
JNL/S&P Mid 3	0.50%	0.20%	0.10% ^F	0.00%	0.80%
JNL/S&P 4	0.00%	0.00%	0.05% ^E	0.66%	0.71%
JNL Variable Fund LLC
JNL/Mellon Capital Dow^SM Index	0.29%	0.20%	0.17% ^G	0.00%	0.66%
JNL/Mellon Capital Global 30	0.29%	0.20%	0.17% ^G	0.00%	0.66%
JNL/Mellon Capital Nasdaq^® 100	0.28%	0.20%	0.20% ^G	0.00%	0.68%
JNL/Mellon Capital JNL 5	0.27%	0.20%	0.17% ^G	0.00%	0.64%
JNL/Mellon Capital S&P^® SMid 60	0.29%	0.20%	0.17% ^G	0.00%	0.66%
JNL/Mellon Capital Communications Sector	0.31%	0.20%	0.17% ^G	0.00%	0.68%
JNL/Mellon Capital Consumer Brands Sector	0.28%	0.20%	0.17% ^G	0.00%	0.65%
JNL/Mellon Capital Financial Sector	0.29%	0.20%	0.16% ^G	0.00%	0.65%
JNL/Mellon Capital Healthcare Sector	0.27%	0.20%	0.17%^G	0.00%	0.64%
JNL/Mellon Capital Oil & Gas Sector	0.28%	0.20%	0.16% ^G	0.00%	0.64%
JNL/Mellon Capital Technology Sector	0.28%	0.20%	0.16% ^G	0.00%	0.64%
Jackson Variable Series Trust
JNL/DoubleLine^® Total Return	0.47%	0.20%	0.17% ^G	0.02%	0.86%
JNL/PIMCO Credit Income	0.40%	0.20%	0.17% ^G	0.00%	0.77%
JNL/T. Rowe Price Capital Appreciation	0.70%	0.20%	0.17% ^G	0.00%	1.07%


^A	Fees and expenses at the Master Fund level for Class 1 shares of each respective Fund are as follows:

JNL/American Funds Blue Chip Income and Growth Fund: Management Fee: 0.39%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.02%; Total Annual Portfolio Operating Expenses: 0.41%.

JNL/American Funds Global Bond Fund: Management Fee: 0.53%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.04%; Total Annual Portfolio Operating Expenses: 0.57%.

JNL/American Funds Global Small Capitalization Fund: Management Fee: 0.70%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.04%; Total Annual Portfolio Operating Expenses: 0.74%.

JNL/American Funds Growth-Income Fund: Management Fee: 0.27%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.02%; Total Annual Portfolio Operating Expenses: 0.29%.

JNL/American Funds International Fund: Management Fee: 0.50%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.04%; Total Annual Portfolio Operating Expenses: 0.54%.

JNL/American Funds New World Fund: Management Fee: 0.72%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.06%; Total Annual Portfolio Operating Expenses: 0.78%.

JNL/American Funds Balanced Fund: Management Fee: 0.27%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.02%; Total Annual Portfolio Operating Expenses 0.29%.

Jackson National Asset Management, LLC (“JNAM” or “Adviser”) has entered into a contractual agreement with the Fund under which it will waive a portion of its advisory fee for such time as the Fund is operated as a Feeder Fund, because during that time it will not be providing the portfolio management portion of the investment advisory and management services. This fee waiver will generally continue as long as the Fund is part of a master-feeder Fund structure, but in any event, the fee waiver will continue for at least one year from the date of this Prospectus, unless the Board of Trustees approves a change in or elimination of the waiver. This fee waiver is subject to yearly review and approval by the Board of Trustees. The Management and the Annual Operating Expense columns in this table reflect the inclusion of the contractual fee waivers.


^C	JNAM has entered into a contractual agreement with the Fund under which it will waive a portion of its advisory fee for at least one year from the date of this Prospectus. Thereafter, the waiver will automatically renew for one-year terms unless the Adviser provides written notice of the termination of the agreement to the Board of Trustees within 30 days of the end of the then current term.

JNAM has contractually agreed to waive fees and reimburse expenses of the Fund to the extent necessary to limit the total operating expenses of each class of shares of the Fund, exclusive of brokerage costs, interest, taxes and dividend and extraordinary expenses, to an annual rate (as a percentage of the average daily net assets of the Fund) equal to or less than the Fund’s investment income for the period. The fee waiver will continue for at least one year from the date of this Prospectus, unless the Board of Trustees approves a change in or elimination of the waiver. This fee waiver is subject to yearly review and approval by the Board of Trustees.


^E	“Other Expenses” include an Administrative Fee of 0.05% which is payable to JNAM.


^F	“Other Expenses” include an Administrative Fee of 0.10% which is payable to JNAM.


^G	“Other Expenses” include an Administrative Fee of 0.15% which is payable to JNAM.


^I	Expense Information has been restated to reflect current fees.


^J	“Other Expenses” include an Administrative Fee of 0.09% which is payable to JNAM.

EXAMPLE

The example below is intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity Contracts. These costs include Contract Owner transaction expenses, Contract fees, separate account annual expenses and Fund fees and expenses.

(The Annual Contract Maintenance Charge is determined by dividing the total amount of such charges collected during the calendar year by the total market value of the Investment Divisions and Fixed Account.)

The example assumes that you invest $10,000 in the Contract for the time periods indicated. Neither transfer fees nor premium tax charges are reflected in the example. The example also assumes that your investment has a 5% annual return on assets each year whether you surrender or maintain the Contract since there is no withdrawal charge.

The following example includes maximum Fund fees and expenses and the cost if you select the Guaranteed Minimum Withdrawal Benefit (using the maximum possible charge). Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you surrender your Contract at the end of the applicable time period:



1 year	3 years	5 years	10 years
$582	$1,730	$2,859	$5,601

If you annuitize at the end of the applicable time period:



1 year	3 years	5 years	10 years
$582	$1,730	$2,859	$5,601

If you do not surrender your Contract:



1 year	3 years	5 years	10 years
$582	$1,730	$2,859	$5,601

The example does not represent past or future expenses. Your actual costs may be higher or lower.

CONDENSED FINANCIAL INFORMATION

The information about the values of all Accumulation Units constitutes the condensed financial information. Information about the values of Accumulation Units can be found in Appendix D. The value of an Accumulation Unit is determined on the basis of the per share value of an underlying Fund less applicable Separate Account charges, including any optional endorsement charges that are based on average daily Contract Value in the Investment Divisions and are deducted daily as part of the calculation of Accumulation Units. Information about the Separate Account charges and charges for optional endorsements can be found in the “Periodic Expenses” tables above.

The financial statements of the Separate Account and Jackson of NY can be found in the Statement of Additional Information. The financial statements of the Separate Account include information about all the contracts offered through the Separate Account. The financial statements of Jackson of NY that are included should be considered only as bearing upon the company's ability to meet its contractual obligations under the Contracts. Jackson of NY's financial statements do not bear on the future investment experience of the assets held in the Separate Account.

THE ANNUITY CONTRACT

The fixed and variable annuity Contract offered by Jackson of NY is a Contract between you, the Owner, and Jackson of NY, an insurance company. The Contract provides a means for allocating on a tax-deferred basis to the Guaranteed Fixed Account, as may be made available by us, or as may be otherwise limited by us, and the Investment Divisions. The Contract is intended for retirement savings or other long-term investment purposes and provides for a death benefit and guaranteed income options.

The Contract, like all deferred annuity Contracts, has two phases: (1) the accumulation phase, and (2) the income phase. Withdrawals under a non-qualified Contract will be taxable on an “income first” basis. This means that any withdrawal from a non-qualified Contract that does not exceed the accumulated income under the Contract will be taxable in full. Any withdrawals under a tax-qualified Contract will be taxable except to the extent that they are allocable to an investment in the Contract (any after-tax contributions). In most cases, there will be little or no investment in the Contract for a tax-qualified Contract because contributions will have been made on a pre-tax or tax-deductible basis. Income payments under either a non-qualified Contract or a tax-qualified Contract will be taxable except to the extent that they represent a partial repayment of the investment in the Contract.

The Contract offers Guaranteed Fixed Account options, as may be made available by us, or as may be otherwise limited by us. The Guaranteed Fixed Account options each offer a minimum interest rate that is guaranteed by Jackson of NY for the duration of the Guaranteed Fixed Account period. While your money is in a Guaranteed Fixed Account, the interest your money earns and your principal are guaranteed by Jackson of NY. The value of a Guaranteed Fixed Account may be reduced if you make a withdrawal prior to the end of the Guaranteed Fixed Account period, but will never be less than the premium payments accumulated at 3% per year. If you choose to have your annuity payments come from the Guaranteed Fixed Account, your payments will remain level throughout the entire income phase.

The Contract also offers Investment Divisions. The Investment Divisions are designed to offer the potential for a higher return than the Guaranteed Fixed Account. However, this is not guaranteed. It is possible for you to lose your Contract Value allocated to any of the Investment Divisions. If you put money in the Investment Divisions, the amount of money you are able to accumulate in your Contract during the accumulation phase depends upon the performance of the Investment Divisions you select. The amount of the income payments you receive during the income phase also will depend, in part, on the performance of the Investment Divisions you choose for the income phase.

The Owner (or the joint Owner) can exercise all the rights under the Contract. You can assign the Contract at any time before the Income Date but Jackson of NY will not be bound until it receives written notice of the assignment (there is an assignment form). An assignment may be a taxable event. Your ability to change ownership is limited on Contracts with one of the For Life GMWBs. Please contact the Jackson of NY Service Center for help and more information.

The Contract is a single premium fixed and variable deferred annuity Contract. This prospectus provides a description of the materials rights and obligations under the Contract. Your Contract and any endorsements are the formal contractual agreement between you and the Company.

JACKSON OF NY

Jackson of NY is a stock life insurance company organized under the laws of the state of New York in July 1995. Its legal domicile and principal business address is 2900 Westchester Avenue, Purchase, New York 10577. Jackson of NY is admitted to conduct life insurance and annuity business in the states of Delaware, New York and Michigan. Jackson of NY is ultimately a wholly owned

subsidiary of Prudential plc (London, England). Prudential plc is also the ultimate parent of PPM America, Inc., a sub-adviser for certain of the Funds, and Jackson National Asset Management, LLC (“JNAM”), the Funds’ investment adviser and administrator. JNAM provides certain administrative services with respect to the Separate Account, including separate account administration services and financial and accounting services. JNAM is located at 225 West Wacker Drive, Chicago, IL 60606.

Jackson of NY issues and administers the Contracts and the Separate Account. We maintain records of the name, address, taxpayer identification number and other pertinent information for each Contract Owner and the number and type of Contracts issued to each Owner, and records with respect to the value of each Contract.

Jackson of NY is working to provide documentation electronically. When this program is available, Jackson of NY will, as permitted, forward documentation electronically. Please contact Jackson of NY Service Center for more information.

THE GUARANTEED FIXED ACCOUNT

If you select a Guaranteed Fixed Account option, your money will be placed with Jackson of NY's other assets. Unlike the Separate Account, the General Account is not segregated or insulated from the claims of the insurance company's creditors. Investors are looking to the financial strength of the insurance company for its obligations under the Contract, including, for example, guaranteed minimum withdrawal benefits. The Guaranteed Fixed Account is not registered with the SEC and the SEC does not review the information we provide to you about the Guaranteed Fixed Account options. Disclosures regarding the Guaranteed Fixed Account options, however, may be subject to the general provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. Your Contract contains a more complete description of the available Guaranteed Fixed Account options, as supplemented by our administrative requirements relating to transfers. Both the availability of the Guaranteed Fixed Account options, and transfers into and out of the Guaranteed Fixed Account, may be subject to contractual and administrative requirements. For more information, please see the application, check with the Jackson of NY registered representative helping you to purchase the Contract, or contact us at our Jackson of NY Service Center.

THE SEPARATE ACCOUNT

The JNLNY Separate Account II was established by Jackson of NY on November 10, 1998, pursuant to the provisions of New York law. The Separate Account is a separate account under state insurance law and a unit investment trust under federal securities law and is registered as an investment company with the SEC.

We have claimed an exclusion from the definition of the term “Commodity Pool Operator” under the Commodity Exchange Act (CEA) with respect to the Separate Account. Therefore, we are not subject to registration or regulation as a Commodity Pool Operator under the CEA with respect to the Separate Account.

The assets of the Separate Account legally belong to Jackson of NY and the obligations under the Contracts are obligations of Jackson of NY. However, the Contract assets in the Separate Account are not chargeable with liabilities arising out of any other business Jackson of NY may conduct. All of the income, gains and losses resulting from these assets are credited to or charged against the Contracts and not against any other Contracts Jackson of NY may issue.

The Separate Account is divided into Investment Divisions. Jackson of NY does not guarantee the investment performance of the Separate Account or the Investment Divisions.

INVESTMENT DIVISIONS

You may allocate your Contract Value to no more than 99 Allocation Options, which includes the Guaranteed Fixed Account, at any one time. Each Investment Division purchases the shares of one underlying fund (mutual fund portfolio) that has its own investment objective. The Investment Divisions are designed to offer the potential for a higher return than the Guaranteed Fixed Account options. However, this is not guaranteed. It is possible for you to lose your Contract Value allocated to any of the Investment Divisions. If you allocate Contract Values to the Investment Divisions, the amounts you are able to accumulate in your Contract during the accumulation phase depend upon the performance of the Investment Divisions you select. The amount of the income payments you receive during the income phase also will depend, in part, on the performance of the Investment Divisions you choose for the income phase.

The following Funds in which the Investment Divisions invest are each known as a Fund of Funds. Funds offered in a Fund of Funds structure may have higher expenses than direct investments in the underlying Funds. You should read the summary prospectuses for the Funds and/or the prospectus for the JNL Series Trust for more information.

JNL/American Funds^® Balanced Allocation

JNL/American Funds Growth Allocation

JNL Institutional Alt 20

JNL Institutional Alt 35

JNL Institutional Alt 50

JNL Alt 65

JNL/DFA Growth Allocation Fund

JNL/DFA Moderate Allocation Fund

JNL/Franklin Templeton Founding Strategy

JNL/Mellon Capital 10 x 10

JNL/Mellon Capital Index 5

JNL/S&P 4

JNL/S&P Managed Conservative

JNL/S&P Managed Moderate

JNL/S&P Managed Moderate Growth

JNL/S&P Managed Growth

JNL/S&P Managed Aggressive Growth

JNL Disciplined Moderate

JNL Disciplined Moderate Growth

JNL Disciplined Growth

Important information regarding the following closed Investment Divisions:

As of August 29, 2011 (“the Effective Date”), the Investment Divisions investing in the JNL Alt 65 Fund; JNL/Goldman Sachs Emerging Markets Debt Fund; JNL/Lazard Emerging Markets Fund; JNL/Mellon Capital Global Alpha Fund (the JNL/AQR Managed Futures Strategy Fund effective April 27, 2015); and JNL/Red Rocks Listed Private Equity Fund stopped accepting any additional allocations or transfers. Additionally, as of September 15, 2014 (“the Effective Date”), the JNL/Mellon Capital Communications Sector Investment Division stopped accepting any additional allocations or transfers. These Investment Divisions are collectively referred to as the “Divisions” If as of the applicable Effective Date you had an automatic program, such as Dollar Cost Averaging, Earnings Sweep and Rebalancing, and it includes an allocation to any of the Divisions, you can continue to include the Divisions under the program based on your then existing election until you revise or terminate the automatic program. Any change to the then existing automatic program is not permitted if you wish to continue to include an allocation to the Division under the program. The Divisions are not available for any new or revised allocation instructions under any automatic program. If you have allocation instructions for future Premium payments on file with us that include an allocation to any of the Divisions, you must choose a replacement Investment Division. If you have not chosen a replacement Investment Division and make a subsequent Premium payment, all such allocations to any of the Divisions prior to our receipt of new allocation instructions from you will be allocated to the JNL/WMC Government Money Market Investment Division. Your representative can assist you in subsequently reallocating the Contract Value in the JNL/WMC Government Money Market Investment Division to any other available investment option. Amounts invested in any of the Divisions as of the applicable Effective Date will remain invested unless we receive instruction from you. You may continue to make transfers and withdrawals out of any of the Divisions in connection with the usual transactions under a Contract, such as partial withdrawals or withdrawals under a GMWB, if available. However, if you transfer out of any of the Divisions, you will not be able to transfer back in.

The names of the Funds that are or were previously available, along with the names of the advisers and sub-advisers and a brief statement of each investment objective, are below:

JNL Series Trust

JNL/American Funds Balanced Fund ("Feeder Fund") (formerly, JNL/Capital Guardian Global Balanced Fund)

Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management Company ^SM , investment adviser to the Master Fund )

Seeks high total return (including income and capital gains) consistent with preservation of capital over the long term through exclusive investment in Class 1 shares of the American Funds Insurance Series ^® - Asset Allocation Fund ^SM ("Master Fund"). The Master Fund varies its mix of equity securities, debt securities and money market instruments. Under normal market conditions, the Master Fund expects (but is not required) to maintain an investment mix falling within the following ranges: 40%-80% in equity securities, 20%-50% in debt securities and 0%-40% in money market instruments and cash.

JNL/American Funds Blue Chip Income and Growth Fund (“Feeder Fund”)

Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management Company^SM, investment adviser to the Master Fund)

Seeks both income exceeding the average yield on U.S. stocks generally and to provide an opportunity for growth of principal consistent with sound common stock investing through exclusive investment in the Class 1 shares of the American Funds Insurance Series^® –Blue Chip Income and Growth Fund^SM (“Master Fund”). The Master Fund invests primarily in dividend-paying common stocks of larger, more established companies domiciled in the United States with market capitalizations greater than $4 billion.

JNL/American Funds Global Bond Fund (“Feeder Fund”)

Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management Company^SM, investment adviser to the Master Fund)

Seeks, over the long term, a high level of total return consistent with prudent investment management through exclusive investment in the Class 1 shares of the American Funds Insurance Series^® –Global Bond Fund^SM (“Master Fund”). The Master Fund seeks to provide as high a level of total return as is consistent with prudent management, by investing at least 80% of its assets in bonds. As the Master Fund seeks to invest globally, the Master Fund will allocate its assets among securities of companies domiciled in various countries, including the United States and countries with emerging markets (but no fewer than three countries).

JNL/American Funds Global Small Capitalization Fund (“Feeder Fund”)

Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management Company^SM, investment adviser to the Master Fund)

Seeks growth of capital over time through exclusive investment in the Class 1 shares of the American Funds Insurance Series^® – Global Small Capitalization Fund^SM (“Master Fund”). The Master Fund invests at least 80% of its net assets in growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) of companies with small market capitalizations, measured at the time of purchase. As the Master Fund seeks to invest globally, the Master Fund will allocate its assets among securities of companies domiciled in various countries, including the United States and countries with emerging markets (but no fewer than three countries).

JNL/American Funds Growth-Income Fund (“Feeder Fund”)

Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management Company^SM, investment adviser to the Master Fund)

Seeks long-term growth of capital and income through exclusive investment in the Class 1 shares of the American Funds Insurance Series ^® – Growth-Income Fund ^SM (“Master Fund”). The Master Fund seeks to make the investment grow and provide income by investing primarily in common stocks or other equity-type securities, such as preferred stocks, convertible preferred stocks and convertible bonds, that the investment adviser to the Master Fund believes demonstrate the potential for appreciation and/or dividends. The Master Fund may invest up to 15% of its assets, at the time of purchase, in securities of issuers domiciled outside the United States.

JNL/American Funds International Fund (“Feeder Fund”)

Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management Company^SM, investment adviser to the Master Fund)

Seeks long-term growth of capital through exclusive investment in the Class 1 shares of the American Funds Insurance Series^® –International Fund^SM ( “Master Fund”). The Master Fund seeks to make the investment grow by investing primarily in common stocks of companies domiciled outside the United States, including companies domiciled in developing countries, that the investment adviser to the Master Fund believes have the potential for growth. Investors in the Master Fund should have a long-term perspective and, for example, be able to tolerate potentially sharp, short-term declines in value.

JNL/American Funds New World Fund (“Feeder Fund”)

Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management Company^SM, investment adviser to the Master Fund)

Seeks long-term capital appreciation through exclusive investment in the Class 1 shares of the American Funds Insurance Series^® –New World Fund^® ( “Master Fund”). The Master Fund may invest in companies without regard to market capitalization, including companies with small market capitalizations. Investors in the Master Fund should have a long-term perspective and, for example, be able to tolerate potentially sharp, short-term declines in value. Under normal market conditions, the Master Fund will invest at least 35% of its assets in equity and debt securities of issuers primarily based in qualified countries that have

developing economies and/or markets.

JNL Multi-Manager Mid Cap Fund

Jackson National Asset Management, LLC (and Champlain Investment Partners, LLC, ClearBridge Investments, LLC, and Victory Capital Management, Inc.)

Seeks long-term total return by investing, under normal circumstances, at least 80% of its total net assets in a variety of mid-capitalization growth and value strategies managed by unaffiliated investment managers.

JNL Multi-Manager Small Cap Growth Fund

Jackson National Asset Management, LLC (and Chicago Equity Partners, LLC, Granahan Investment Management, Inc., LMCG Investments, LLC, and Victory Capital Management Inc.)

Seeks long-term capital appreciation by investing, under normal circumstances, at least 80% of its assets in a variety of small cap growth strategies managed by unaffiliated investment managers.

JNL Multi-Manager Small Cap Value Fund

Jackson National Asset Management, LLC (and Century Capital Management, LLC, Chicago Equity Partners, LLC, Cooke & Bieler L.P., and Cortina Asset Management, LLC)

Seeks long-term total return by investing, under normal market conditions, at least 80% of its assets in a variety of small cap value strategies managed by unaffiliated investment managers.

JNL Institutional Alt 20 Fund

Jackson National Asset Management, LLC

Seeks long-term growth of capital and income by investing in Class A shares of a diversified group of other funds (“Underlying Funds”) that invest primarily in equity and fixed-income securities. The Underlying Funds in which the Fund may invest are series of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust, and the Jackson Variable Series Trust. Not all funds of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust, and the Jackson Variable Series Trust are available as Underlying Funds. The Fund allocates approximately 80% of its assets to traditional investment categories and approximately 20% to non-traditional investment categories. Investments may include Underlying Funds that invest in both domestic and international stocks of large established companies, in stocks of smaller companies with above-average growth potential. As listed in the Fund prospectus, the Fund considers the Alternative Assets, Alternative Strategies, and Risk Management investment categories to be non-traditional, and the Domestic/Global Equity, Domestic/Global Fixed Income, International, International Fixed Income, Sector, Specialty, and Tactical Management investment categories to be traditional. Please see the Fund prospectus for more information.

JNL Institutional Alt 35 Fund

Jackson National Asset Management, LLC

Seeks long-term growth of capital and income by investing in Class A shares of a diversified group of other funds (“Underlying Funds”) that invest primarily in equity and fixed-income securities. The Underlying Funds in which the Fund may invest are series of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust, and the Jackson Variable Series Trust. Not all funds of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust, and the Jackson Variable Series Trust are available as Underlying Funds. The Fund allocates approximately 65% of its assets to traditional investment categories and approximately 35% to non-traditional investment categories. Investments may include Underlying Funds that invest in both domestic and international stocks of large established companies, in stocks of smaller companies with above-average growth potential. As listed in the Fund prospectus, the Fund considers the Alternative Assets, Alternative Strategies, and Risk Management investment categories to be non-traditional, and the Domestic/Global Equity, Domestic/Global Fixed Income, International, International Fixed Income, Sector, Specialty, and Tactical Management investment categories to be traditional. Please see the Fund prospectus for more information.

JNL Institutional Alt 50 Fund

Jackson National Asset Management, LLC

average growth potential. As listed in the Fund prospectus, the Fund considers the Alternative Assets, Alternative Strategies, and Risk Management investment categories to be non-traditional, and the Domestic/Global Equity, Domestic/Global Fixed Income, International, International Fixed Income, Sector, Specialty, and Tactical Management investment categories to be traditional. Please see the Fund prospectus for more information.

JNL Alt 65 Fund (Please Note: The Investment Division investing in the JNL Alt 65 Fund is not accepting any additional allocations or transfers.)

Jackson National Asset Management, LLC

Seeks long-term growth of capital and income by investing in Class A shares of a diversified group of other funds (“Underlying Funds”) that invest primarily in equity and fixed-income securities. The Underlying Funds in which the Fund may invest are series of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust, and the Jackson Variable Series Trust. Not all funds of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust, and the Jackson Variable Series Trust are available as Underlying Funds. The Fund allocates approximately 35% of its assets to traditional investment categories and approximately 65% to non-traditional investment categories. Investments may include Underlying Funds that invest in both domestic and international stocks of large established companies, in stocks of smaller companies with above-average growth potential. As listed in the Fund prospectus, the Fund considers the Alternative Assets, Alternative Strategies, and Risk Management investment categories to be non-traditional, and the Domestic/Global Equity, Domestic/Global Fixed Income, International, International Fixed Income, Sector, Specialty, and Tactical Management investment categories to be traditional. Please see the Fund prospectus for more information.

JNL/American Funds^® Balanced Allocation Fund

Jackson National Asset Management, LLC

Seeks a balance between current income and growth of capital by investing in Class 1 shares of a diversified group of other Funds (“Underlying Funds”). The Underlying Funds in which the Fund may invest are a part of the American Funds Insurance Series^® (“AFIS”). Not all Funds of AFIS are available as Underlying Funds. Under normal circumstances, the Fund allocates approximately 50%-80% of its assets to Underlying Funds that invest primarily in equity securities and 20%-50% of its assets to Underlying Funds that invest primarily in fixed-income securities.

JNL/American Funds Growth Allocation Fund

Jackson National Asset Management, LLC

Seeks capital growth with a secondary emphasis on current income by investing in Class 1 shares of a diversified group of other Funds (“Underlying Funds”). The Underlying Funds in which the Fund may invest are a part of the American Funds Insurance Series^® (“AFIS”). Not all Funds of AFIS are available as Underlying Funds. Under normal circumstances, the Fund allocates approximately 70%-100% of its assets to Underlying Funds that invest primarily in equity securities and 0%-30% of its assets to Underlying Funds that invest primarily in fixed-income securities.

JNL/AQR Large Cap Relaxed Constraint Equity Fund (formerly, JNL/Goldman Sachs U.S. Equity Flex Fund)

Jackson National Asset Management, LLC (AQR Capital Management, LLC)

Seeks long-term capital appreciation by investing in a broad mix of equity securities that aims to produce long-term capital appreciate in excess of the Russell 1000 ^® Index ("Index"). The Fund will invest at least 80% of its assets (net assets plus borrowings for investment purposes) in equity securities or equity related instruments of large-capitalization companies, which the sub-adviser generally considers to be those companies with market capitalizations within the range of the Index at the time of purchase.

JNL/AQR Managed Futures Strategy Fund (Please Note: The Investment Division investing in the JNL/AQR Managed Futures Strategy Fund is not accepting any additional allocations or transfers.)

Jackson National Asset Management, LLC (and AQR Capital Management, LLC)

Seeks positive absolute returns by investing primarily in a portfolio of futures contracts, futures-related instruments, and equity swaps. Equity swaps include, but are not limited to, global developed and emerging market equity index futures, swaps on equity index futures and equity swaps, global developed and emerging market currency forwards, global developed fixed-income futures, bond futures and swaps on bond futures and may also invest in commodity futures and swaps on commodity futures.

JNL/BlackRock Global Allocation Fund

Jackson National Asset Management, LLC (and BlackRock Investment Management, LLC)

Seeks high total investment return by investing in a portfolio of equity and debt securities, money market securities and other short-term securities or instruments of issuers located around the world. Generally, the Fund will invest in both equity and debt securities and seeks diversification across markets, industries and issuers as one of its strategies to reduce volatility. Equity

securities include common stock, rights and warrants, preferred stock, securities convertible into common stock, or securities or other instruments whose price is linked to the value of common stock.

JNL/BlackRock Large Cap Select Growth Fund

Jackson National Asset Management, LLC (and BlackRock Investment Management, LLC)

Seeks long-term capital appreciation by investing, under normal circumstances, at least 80% of its assets in equity securities of U.S. large capitalization companies. The Fund defines large capitalization companies as those with a market capitalization of at least $2.0 billion at the time of investment. Investments in equity securities include common stock and preferred stock, as well as American Depository Receipts. In addition, up to 20% of the Fund’s net assets may be invested in foreign equity securities.

JNL/BlackRock Natural Resources Fund

Jackson National Asset Management, LLC (and BlackRock Investment Management, LLC)

Seeks long-term capital growth by investing primarily in equity securities of companies with substantial natural resource assets. Under normal circumstances, the Fund will invest at least 80% of its assets in companies with substantial natural resource assets or in securities the value of which is related to the market value of some natural resource asset. The Fund may invest in securities of issuers with any market capitalization. There are no geographic limits on the Fund’s investments.

JNL/Brookfield Global Infrastructure and MLP Fund

Jackson National Asset Management, LLC (and Brookfield Investment Management Inc.)

Seeks total return through growth of capital and current income by investing primarily in securities of publicly traded infrastructure companies. Under normal market conditions, the Fund will invest at least 80% of its net assets in MLPs and publicly traded equity securities of infrastructure companies listed on a domestic or foreign exchange. MLPs may derive income and gains from the exploration, development, mining or production, process, refining, transportation, or marketing of any mineral or natural resources.

JNL/Causeway International Value Select Fund

Jackson National Asset Management, LLC (and Causeway Capital Management LLC)

Seeks long-term growth of capital income and income by investing, under normal circumstances, in common stocks of companies located in developed countries outside the U.S. The Fund invests at least 80% of its assets in stocks of companies located in a number of foreign countries and invests the majority of its total assets in companies that pay dividends or repurchase their shares.

JNL/Crescent High Income Fund

Jackson National Asset Management, LLC (and Crescent Capital Group, LP)

Seeks high current income with capital appreciation by investing primarily in high yield fixed-income securities and bank loans that are rated below investment grade. The Fund considers investments to be below investment grade if they are rated BB+ or lower by Standard & Poor’s Ratings Services or Fitch, Inc. and/or Ba1 or lower by Moody’s Investors Service, Inc., or, if unrated, deemed to be below investment grade by the sub-adviser. Below investment grade fixed-income securities are commonly referred to as “junk bonds.”

JNL/DFA Growth Allocation Fund

Jackson National Asset Management, LLC

Seeks total return consisting of capital appreciation and current income by investing in shares of a diversified group of other Funds ("Underlying Funds"). The Underlying Funds in which the Fund may invest are part of DFA Investment Dimensions Group, Inc. and Dimensional Investment Group Inc. To achieve its investment objective, the Fund allocates its assets to Underlying Funds that invest in equity and fixed-income securities. Generally, the Fund invests its assets in domestic and international equity Underlying Funds and fixed-income Underlying Funds to achieve an allocation of approximately 60% to 100% (with a target allocation of approximately 80%) of the Fund’s assets to domestic and international equity Underlying Funds and 0% to 40% (with a target allocation of approximately 20%) of its assets to fixed-income Underlying Funds.

JNL/DFA Moderate Allocation Fund

Jackson National Asset Management, LLC

international equity Underlying Funds and fixed-income Underlying Funds to achieve an allocation of approximately 40% to 80% (with a target allocation of approximately 60%) of the Fund’s assets to domestic and international equity Underlying Funds and 20% to 60% (with a target allocation of approximately 40%) of its assets to fixed-income Underlying Funds.

JNL/DFA U.S. Core Equity Fund

Jackson National Asset Management, LLC (and Dimensional Fund Advisors LP)

Seeks long-term capital appreciation by investing, under normal market conditions, at least 80% of its assets in equity securities of U.S. companies. The percentage allocation of the assets of the Fund to securities of the largest U.S. growth companies will generally be reduced from between 2.5% and 25% of their percentage weight in the U.S. universe. The percentage by which the Fund’s allocation to securities of the largest U.S. growth companies is reduced will change due to market movements.

JNL/DoubleLine ^® Shiller Enhanced CAPE ^® Fund

Jackson National Asset Management, LLC (and DoubleLine Capital LP)

Seeks total return (capital appreciation and current income) which exceeds the total return (capital appreciation and current income) in excess of the Shiller Barclays CAPE ^® US Sector TR USD Index. The Fund will seek to use derivatives, or a combination of derivatives and direct investments to provide a return that tracks closely the performance of the Index. The Fund will also invest in a portfolio of debt securities to provide additional long-term total return.

JNL/FPA + DoubleLine^® Flexible Allocation Fund

Jackson National Asset Management, LLC (DoubleLine Capital LP, First Pacific Advisors, LLC and Ivy Investment Management Company)

Seeks to provide total return by allocating among a variety of alternative strategies managed by three unaffiliated sub-advisers. Each of the sub-advisers generally provides day-to-day management for a portion of the Fund’s assets.

JNL/Franklin Templeton Founding Strategy Fund

Jackson National Asset Management, LLC

Seeks capital appreciation by investing in Class A shares of a diversified group of other Funds: JNL/Franklin Templeton Income Fund; JNL/Franklin Templeton Global Fund; and, JNL/Franklin Templeton Mutual Shares Fund (“Underlying Funds”). The Fund allocates approximately 33 1/3% of its assets and cash flow among the Underlying Funds. These Underlying Funds, in turn invest primarily in U.S. and foreign equity securities, and, to a lesser extent, fixed-income and money market securities.

JNL/Franklin Templeton Global Fund (formerly, JNL/Franklin Templeton Global Growth Fund)

Jackson National Asset Management, LLC (and Templeton Global Advisors Limited)

Seeks long-term capital growth by investing, under normal market conditions, primarily in the equity securities of companies located anywhere in the world, including emerging markets. The equity securities in which the Fund primarily invests are common stock. Although the Fund seeks investments across a number of countries and sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular countries or sectors.

JNL/Franklin Templeton Global Multisector Bond Fund

Jackson National Asset Management, LLC (and Franklin Advisers, Inc.)

Seeks total investment return consisting of a combination of interest income, capital appreciation, and currency gains. Under normal market conditions the Fund will invest at least 80% of its assets in fixed and floating rate debt securities and debt obligations (including convertible bonds) of governments, government-related issuers, or corporate issuers worldwide. The Fund may also invest in inflation-indexed securities and securities or structured products that are linked to or derive their value from another security, asset or currency of any nation. The Fund's assets will be invested in issuers located in at least three countries (including the U.S.).

JNL/Franklin Templeton Income Fund

Jackson National Asset Management, LLC (and Franklin Advisers, Inc.)

Seeks to maximize income while maintaining prospects for capital appreciation by investing, under normal market conditions, in a diversified portfolio of debt and equity securities. The equity securities in which the Fund invests consist primarily of common stock. The Fund seeks income by selecting investments such as corporate, foreign and U.S. Treasury bonds, as well as stocks with attractive dividend yields.

JNL/Franklin Templeton International Small Cap Growth Fund

Jackson National Asset Management, LLC (and Franklin Templeton Institutional, LLC and Templeton Investment Counsel, LLC)

Seeks long-term capital appreciation by investing, under normal market conditions, at least 80% of its assets in a diversified portfolio of investments of smaller international companies, located outside of the U.S., including those of emerging or developing markets. The Fund invests predominately in securities listed or traded on recognized international markets in developed countries included in MSCI EAFE Small Cap Index and All Country World exUS Small Cap Index. The Fund may, from time to time, have significant investments in a particular sector or country.

JNL/Franklin Templeton Mutual Shares Fund

Jackson National Asset Management, LLC (and Franklin Mutual Advisers, LLC)

Seeks capital appreciation, which may occasionally be short-term (which is capital appreciation return on investment in less than 12 months), and secondarily, income. The Fund, under normal market conditions, invests primarily in equity securities (including securities convertible into, or that the sub-adviser expects to be exchanged for, common or preferred stock) of U.S. and foreign companies that the sub-adviser believes are available at market prices less than their value based on certain recognized or objective criteria (intrinsic value). Following this value-oriented strategy, the Fund invests in undervalued securities (securities trading at a discount to intrinsic value). The equity securities in which the Fund invests are primarily common stock.

JNL/Goldman Sachs Core Plus Bond Fund

Jackson National Asset Management, LLC (and Goldman Sachs Asset Management, L.P. and sub-sub-adviser: Goldman Sachs Asset Management International)

Seeks a high level of current income, with capital appreciation as a secondary objective. The Fund invests, under normal circumstances, at least 80% of its assets in a globally diverse portfolio of bonds and other fixed-income securities and related investments. The sub-adviser has broad discretion to invest the Fund’s assets among certain segments of the fixed-income market including in U.S. investment-grade bonds, collateralized loan obligations, high-yield non-investment grade debt securities, corporate debt securities, emerging market debt securities and in obligations of domestic and foreign issuers which may be denominated in currencies other than the U.S. dollar.

JNL/Goldman Sachs Emerging Markets Debt Fund (Please Note: The Investment Division investing in the JNL/Goldman Sachs Emerging Markets Debt Fund is not accepting any additional allocations or transfers.)

Jackson National Asset Management, LLC (and Goldman Sachs Asset Management, L.P. and sub-sub-adviser: Goldman Sachs Asset Management International)

Seeks a high level of total return consisting of income and capital appreciation. The Fund invests, under normal circumstances, at least 80% of its assets in (i) sovereign and corporate debt securities and other instruments of issuers in emerging countries, denominated in any currency; and/or (ii) currencies of such emerging countries, which may be represented by forwards or other derivatives that may have interest rate exposure. Emerging market countries include but are not limited to those considered to be developing by the World Bank. Many of the countries in which the Fund invests will have sovereign ratings that are below investment grade or are unrated.

JNL/Invesco China-India Fund

Jackson National Asset Management, LLC (and Invesco Hong Kong Limited)

Seeks long-term capital growth by investing normally 80% of its assets (net assets plus the amount of any borrowings for investment purposes), in equity and equity-related securities (such as depositary receipts, convertible bonds and warrants) of corporations, which are incorporated in, or listed in, or have their area of primary activity in the Greater China region (including mainland China, Hong Kong, Macau and Taiwan) and India.

JNL/Invesco Global Real Estate Fund

Jackson National Asset Management, LLC (and Invesco Advisers, Inc. and sub-sub-adviser: Invesco Asset Management Limited)

Seeks high total return by investing, normally, at least 80% of its assets in securities of real estate and real estate-related companies, including real estate investment trusts and in derivatives and other instruments that have economic characteristics similar to such securities. The companies will be located in at least three different countries, including the U.S.

JNL/Invesco International Growth Fund

Jackson National Asset Management, LLC (and Invesco Advisers, Inc.)

Seeks long-term growth of capital by primarily investing in equity securities and depository receipts of foreign issuers. The Fund focuses its investments in common and preferred stock and invests, under normal circumstances in securities of companies

located in at least three countries outside of the U.S. The Fund may also invest no more than 30% in emerging markets securities.

JNL/Invesco Mid Cap Value Fund

Jackson National Asset Management, LLC (and Invesco Advisers, Inc.)

Seeks total return through growth of capital by investing at least 80% of its assets in a non-diversified portfolio of equity securities of U.S. companies with market capitalizations generally in the range of $2 billion to $10 billion or in the range of companies represented in the Russell Mid Cap Index and that the sub-adviser believes are undervalued.

JNL/Invesco Small Cap Growth Fund

Jackson National Asset Management, LLC (and Invesco Advisers, Inc.)

Seeks long-term growth of capital by investing, normally, at least 80% of its assets in equity securities of small-capitalization companies. The Fund considers a company to be a small-capitalization company if it has a market capitalization, at the time of purchase, no larger than the largest capitalized company included in the Russell 2000^® Index during the most recent 11-month period (based on month-end data) plus the most recent data during the current month. The Fund may also invest up to 20% of its assets in equity securities of issuers that have market capitalizations, at the time of purchase, in other market capitalization ranges, and in investment-grade non-convertible debt securities, U.S. government securities and high quality money market instruments. The Fund may also invest up to 25% of its total assets in foreign securities.

JNL/JPMorgan MidCap Growth Fund

Jackson National Asset Management, LLC (and J.P. Morgan Investment Management Inc.)

Seeks capital growth over the long-term by investing, under normal market circumstances, at least 80% of its assets in a broad portfolio of common stocks of companies with market capitalizations equal to those within the universe of Russell Midcap Growth Index stocks at the time of purchase. Market capitalization is the total market value of a company’s shares. The Fund may also invest up to 20% of its total assets in all types of foreign securities.

JNL/JPMorgan U.S. Government & Quality Bond Fund

Jackson National Asset Management, LLC (and J.P. Morgan Investment Management Inc.)

Seeks to obtain a high level of current income by investing, under normal circumstances, at least 80% of its assets in U.S. Treasury securities, obligations issued by agencies or instrumentalities of the U.S. government (which may not be backed by the U.S. government) and mortgage-backed securities, that are supported either by the full faith and credit of the U.S. government or their own credit, collateralized mortgage obligations issued by private issuers, and repurchase agreements related to the principal investments. The Fund may also invest in high-quality corporate debt securities.

JNL/Lazard Emerging Markets Fund (Please Note: The Investment Division investing in the JNL/Lazard Emerging Markets Fund is not accepting any additional allocations or transfers.)

Jackson National Asset Management, LLC (and Lazard Asset Management LLC)

Seeks long-term capital appreciation by investing, under normal circumstances, at least 80% of its assets in equity securities of companies whose principal business activities are located in emerging market countries. The Fund may engage, to a limited extent, in various investment techniques, such as foreign currency transactions and the use of derivative instruments to gain exposure to foreign currencies and emerging securities, and to hedge the Fund’s investments.

JNL/Mellon Capital 10 x 10 Fund

Jackson National Asset Management, LLC

Seeks capital appreciation and income by investing in Class A shares of the following Underlying Funds:


Ø	50% in the JNL/Mellon Capital JNL 5 Fund;


Ø	10% in the JNL/Mellon Capital S&P 500 Index Fund;


Ø	10% in the JNL/Mellon Capital S&P 400 MidCap Index Fund;


Ø	10% in the JNL/Mellon Capital Small Cap Index Fund;


Ø	10% in the JNL/Mellon Capital International Index Fund; and


Ø	10% in the JNL/Mellon Capital Bond Index Fund.

JNL/Mellon Capital Index 5 Fund

Jackson National Asset Management, LLC

Seeks capital appreciation by investing in Class A shares of the following Underlying Funds:


Ø	20% in the JNL/Mellon Capital S&P 500 Index Fund;


Ø	20% in the JNL/Mellon Capital S&P 400 MidCap Index Fund;


Ø	20% in the JNL/Mellon Capital Small Cap Index Fund;


Ø	20% in the JNL/Mellon Capital International Index Fund; and


Ø	20% in the JNL/Mellon Capital Bond Index Fund.

JNL/Mellon Capital Emerging Markets Index Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to track the performance of a benchmark index that measures the investment return of stocks issued by companies located in emerging market countries. The Fund invests, under normal circumstances, at least 80% of its assets in stocks included in the MSCI Emerging Markets Index (“Index”), including depositary receipts representing securities of the Index. The Fund attempts to replicate the Index by investing all or substantially all of its assets in the securities that comprise the Index.

JNL/Mellon Capital European 30 Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to provide capital appreciation by investing at least 80% of its assets in the stock of 30 companies selected from the MSCI Europe Index.

JNL/Mellon Capital Pacific Rim 30 Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to provide capital appreciation by investing under normal circumstances at least 80% of its assets in the stock of 30 companies selected from the MSCI Pacific Index.

JNL/Mellon Capital MSCI KLD 400 Social Index Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to track the investment results of the MSCI KLD 400 Social Index, which is a free float-adjusted market capitalization index designed to target U.S. companies that have positive environmental, social and governance characteristics.

JNL/Mellon Capital S&P 500 Index Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to match the performance of the S&P 500^® Index. The Fund seeks to invest under normal circumstances at least 80% of its assets in the stocks in the S&P 500 Index in proportion to their market capitalization weighting in the S&P 500 Index in order to provide long-term capital growth.

JNL/Mellon Capital S&P 400 MidCap Index Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to match the performance of the S&P MidCap 400 Index. The Fund invests in equity securities of medium capitalization-weighted domestic corporations. Under normal circumstances the Fund invests at least 80% of its assets in the stocks in the S&P MidCap 400 Index in proportion to their market capitalization weighting in the S&P MidCap 400 Index in order to provide long-term capital growth.

JNL/Mellon Capital Small Cap Index Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to match the performance of the S&P SmallCap 600 Index and provide long-term growth of capital by investing in equity securities of small- to mid-size domestic companies. The Fund, under normal circumstances, invests at least 80% of its assets in the stocks included in the S&P SmallCap 600 Index in proportion to their market capitalization weighting in the Index.

JNL/Mellon Capital International Index Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to match the performance of the MSCI Europe Australia Far East (“MSCI EAFE”) Index. The Fund invests in international equity securities attempting to match the characteristics of each country within the index. Under normal circumstances the Fund invests at least 80% of its assets in the stocks included in the MCSI EAFE Index or derivative securities economically related to the MSCI EAFE Index in order to provide long-term capital growth.

JNL/Mellon Capital Bond Index Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks to match the performance of the Bloomberg Barclays U.S. Aggregate Bond Index by investing under normal circumstances at least 80% of its assets in fixed-income securities. The Fund seeks to provide a moderate rate of income by investing in domestic fixed-income investments.

JNL/MFS Mid Cap Value Fund (formerly, JNL/Goldman Sachs Mid Cap Value Fund)

Jackson National Asset Management, LLC (and Massachusetts Financial Services Company d/b/a MFS Investment Management)

Seeks capital appreciation by investing, under normal circumstances, at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in issues with medium market capitalizations.

JNL/Neuberger Berman Strategic Income Fund

Jackson National Asset Management, LLC (and Neuberger Berman Investment Advisers LLC)

Seeks high current income with long-term capital appreciation as its secondary objective by investing primarily in a diversified mix of fixed rate and floating rate debt securities. The Fund’s investments may include securities issued by domestic and foreign governments, corporate entities, and trust structures. The Fund may invest in a broad array of securities, including: securities issued or guaranteed as to principal or interest by the U.S. government or any of its agencies or instrumentalities; corporate bonds; commercial paper; currencies and non-U.S. securities; mortgage-backed securities and other asset-backed securities; and loans.

JNL/Oppenheimer Global Growth Fund

Jackson National Asset Management, LLC (and OppenheimerFunds, Inc.)

Seeks capital appreciation by investing mainly in common stocks of companies in the U.S. and foreign countries. The Fund can invest without limit in foreign securities and can invest in any country, including countries with developing or emerging markets. However, the Fund currently emphasizes investments in developed markets such as the United States, Western European countries and Japan. The Fund does not limit its investments to companies in a particular capitalization range, but primarily invests in mid-capitalization and large-capitalization companies.

JNL/PIMCO Real Return Fund

Jackson National Asset Management, LLC (and Pacific Investment Management Company LLC)

Seeks maximum real return, consistent with preservation of real capital and prudent investment management. The Fund invests, under normal circumstances, at least 80% of its assets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations. Assets not invested in inflation-indexed bonds may be invested in other types of Fixed Income Instruments, which include bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities.

JNL/PIMCO Total Return Bond Fund

Jackson National Asset Management, LLC (and Pacific Investment Management Company LLC)

Seeks to realize maximum total return, consistent with the preservation of capital and prudent investment management. The Fund invests, under normal circumstances, at least 80% of its assets in a diversified portfolio of fixed-income instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements.

JNL/PPM America Floating Rate Income Fund

Jackson National Asset Management, LLC (and PPM America, Inc.)

Seeks to provide a high level of current income by investing, under normal circumstances, at least 80% of its net assets in floating rate loans and other floating rate investments, defined as floating rate loans, floating rate notes, other floating rate debt securities, structured products, money market securities of all types, repurchase agreements, shares of money market funds, short-term bond funds and floating rate funds.

JNL/PPM America High Yield Bond Fund

Jackson National Asset Management, LLC (and PPM America, Inc.)

Seeks to maximize current income, with capital appreciation as a secondary objective, by investing, under normal circumstances, at least 80% of its assets in high-yield, high-risk debt securities, commonly referred to as “junk bonds” and related investments. The Fund may also invest in securities of foreign issuers. To the extent that the Fund invests in emerging market debt, this will be considered as an investment in a high-yield security for purposes of the 80% investment minimum requirement.

JNL/PPM America Mid Cap Value Fund

Jackson National Asset Management, LLC (and PPM America, Inc.)

Seeks long-term growth of capital by investing, primarily, at least 80% of its assets in a diversified portfolio of equity securities of U.S. companies with market capitalizations within the range of companies constituting the Russell Midcap Index (“Index”) under normal market conditions at the time of the initial purchase. The market capitalization range of the Index will vary with market conditions over time. If the market capitalization of a company held by the Fund moves outside the then-current Index range, the Fund may, but is not required to, sell such company's securities.

JNL/PPM America Total Return Fund

Jackson National Asset Management, LLC (and PPM America, Inc.)

Seeks to realize maximum total return, consistent with the preservation of capital and prudent investment management. Under normal circumstances, the Fund invests at least 80% of its assets in a diversified portfolio of fixed-income investments of U.S. and foreign issuers such as government, corporate, mortgage- and other asset-backed securities and cash equivalents. The Fund may also invest in derivative instruments.

JNL/PPM America Small Cap Value Fund

Jackson National Asset Management, LLC (and PPM America, Inc.)

Seeks long-term growth of capital by investing, primarily, at least 80% of its assets in a diversified portfolio of equity securities of U.S. companies within the range of securities of the S&P SmallCap 600 Index (“Index”) under normal market conditions at the time of initial purchase. The market capitalization range of the Index will vary with market conditions over time. If the market capitalization of a company held by the Fund moves outside the then-current Index range, the Fund may, but is not required to, sell such company's securities.

JNL/PPM America Value Equity Fund

Jackson National Asset Management, LLC (and PPM America, Inc.)

Seeks long-term growth of capital by investing, primarily, in a diversified portfolio of equity securities of domestic companies. Such companies will typically have market capitalizations within the range of companies constituting the S&P 500 Index (“Index”) under normal market conditions at the time of the initial purchase. The market capitalization range of the Index will vary with market conditions over time. At least 80% of its assets will be invested, under normal circumstances, in equity securities.

JNL/Red Rocks Listed Private Equity Fund (Please Note: The Investment Division investing in the JNL/Red Rocks Listed Private Equity Fund is not accepting any additional allocations or transfers.)

Jackson National Asset Management, LLC (and Red Rocks Capital LLC)

Seeks maximum total return by investing at least 80% of its assets in (i) securities of U.S. and non-U.S. companies listed on a national securities exchange, or foreign equivalent, that have a significant portion of their assets invested in or exposed to private companies or have as its stated intention to have a significant portion of its assets invested in or exposed to private companies (“Listed Private Equity Companies”), and (ii) derivatives or other instruments (such as exchange traded funds) that otherwise have the economic characteristics of Listed Private Equity Companies.

JNL/T. Rowe Price Established Growth Fund

Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)

Seeks long-term growth of capital by investing generally in common stocks of large-capitalization companies. The sub-adviser generally seeks investments in stocks of large-capitalization companies, which the Sub-Adviser defines as a company whose market capitalization is larger than the median market capitalization of companies in the Russell 1000 Growth Index, and that has one or more of the following characteristics: strong cash flow and an above-average rate of earnings growth; the ability to sustain earnings momentum during economic downturns; and occupation of a lucrative niche in the economy and the ability to expand even during times of slow economic growth. While the Fund invests principally in U.S. common stocks, other securities may also be purchased, including foreign stocks, futures and options.

JNL/T. Rowe Price Mid-Cap Growth Fund

Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)

Seeks long-term growth of capital by investing at least 80% of its assets, under normal circumstances, in a broadly diversified portfolio of common stocks of medium-sized (mid-capitalization) companies whose earnings the sub-adviser expects to grow at a faster rate than the average company.

JNL/T. Rowe Price Short-Term Bond Fund

Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)

Seeks a high level of income consistent with minimal fluctuation in principal value and liquidity by investing in a diversified portfolio of short- and intermediate-term investment-grade corporate, government, and mortgage-backed securities. The Fund may also invest in money market securities, bank obligations, collateralized mortgage obligations, and foreign securities, including securities in emerging markets. Normally, the Fund will invest at least 80% of its net assets in bonds. The Fund will only purchase securities that are rated within one of the four highest credit categories (e.g. AAA, AA, A, BBB, or equivalent) at the time of purchase by at least one major credit rating agency or, if unrated, deemed to be of comparable quality by the sub-adviser.

JNL/T. Rowe Price Value Fund

Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)

Seeks long-term capital appreciation by investing, via a value approach investment selection process, at least 65% of total assets in common stocks believed to be undervalued. Stock holdings are expected to consist primarily of large-company stocks, but may also include mid-cap and small-cap companies. The Fund may invest up to 25% of its total assets (excluding reserves) in foreign securities, including securities that are economically tied to emerging markets. Income is a secondary objective.

JNL/WMC Balanced Fund

Jackson National Asset Management, LLC (and Wellington Management Company LLP)

Seeks reasonable income and long-term capital growth by investing primarily in a diversified portfolio of common stocks and investment grade fixed-income securities. The Fund may invest in any type or class of security. The anticipated mix of the Fund’s holdings is typically 60-70% of its assets in equities and 30-40% in fixed-income securities, including investment-grade corporate bonds, U.S. Treasury and government agency bonds, mortgage-backed securities, asset-backed securities, and commercial-backed securities. Cash and cash equivalents are included in the fixed income fund weighting.

JNL/WMC Government Money Market Fund (formerly, JNL/WMC Money Market Fund)

Jackson National Asset Management, LLC (and Wellington Management Company LLP)

Seeks to achieve as high a level of current income as is consistent with the preservation of capital and maintenance of liquidity by investing in, under normal circumstances, at least 99.5% of its total assets in cash, U.S. Government securities, and/or repurchase agreements that are "collateralized fully" (i.e., collateralized by cash or government securities).

JNL/WMC Value Fund

Jackson National Asset Management, LLC (and Wellington Management Company LLP)

Seeks long-term growth of capital by investing under normal circumstances at least 65% of its total assets in common stocks of domestic companies. Although the Fund may invest in companies with a broad range of market capitalizations, the Fund will tend to focus on companies with large market capitalizations (generally above $10 billion). The Fund may invest up to 20% of its total assets in the securities of foreign issuers.

JNL/S&P Competitive Advantage Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC and Mellon Capital Management Corporation)

Seeks capital appreciation by investing in the stock of anywhere from 30 to 90 distinct companies (generally ranging from 35 to 50 distinct companies) included in the S&P 500^®Index that are believed to have superior profitability, as measured by return on invested capital, and trade at relatively attractive valuations.

JNL/S&P Dividend Income & Growth Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC and Mellon Capital Management Corporation)

Seeks primarily capital appreciation with secondary focus on current income by investing in the stock of 33 to 99 distinct companies (generally ranging from 35 to 50 distinct companies) included in the S&P 500^®Index that have attractive dividend yields and strong capital structures as determined by Standard & Poor’s Investment Advisory Services LLC.

JNL/S&P Intrinsic Value Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC and Mellon Capital Management Corporation)

Seeks capital appreciation by investing in the stock of 30 to 90 distinct companies (generally ranging from 45 to 60 distinct companies) included in the S&P 500^®Index that generate strong free cash flows and sell at relatively attractive valuations.

JNL/S&P Total Yield Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC and Mellon Capital Management Corporation)

Seeks capital appreciation by investing in the stock of 30 to 90 distinct companies (generally ranging from 40 to 65 distinct companies) included in the S&P 500^®Index that generate positive cash flow and have a strong track record, as determined by Standard & Poor’s Investment Advisory Services LLC of returning cash to investors, such as through dividends, share repurchases or debt retirement.

JNL/S&P Mid 3 Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC and Mellon Capital Management Corporation)

Seeks capital appreciation by investing in common stocks of companies that are identified by a model based on three separate investment strategies. Under normal circumstances, the Fund invests approximately 1/3 of its net assets in the following strategies:


Ø	MID Competitive Advantage Strategy;


Ø	MID Intrinsic Value Strategy; and


Ø	MID Total Equity Yield Strategy.

JNL/S&P 4 Fund

Jackson National Asset Management, LLC

Seeks capital appreciation by making initial allocations (25%) of its assets and cash flows to the following four Underlying Funds (Class A) on a specific date each year:


Ø	25% in JNL/S&P Competitive Advantage Fund;


Ø	25% in JNL/S&P Dividend Income & Growth Fund;


Ø	25% in JNL/S&P Intrinsic Value Fund; and


Ø	25% in JNL/S&P Total Yield Fund.

JNL/S&P Managed Conservative Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC)

Seeks current income, with capital growth as a secondary objective, by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.

Under normal circumstances, the Fund allocates approximately 10%-30% of its assets to Underlying Funds that invest primarily in equity securities, 70%-90% to Underlying Funds that invest primarily in fixed-income securities and 0%-30% to Underlying Funds that invest primarily in money market securities.

JNL/S&P Managed Moderate Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC)

Seeks current income and capital growth by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.

Under normal circumstances, the Fund allocates approximately 30%-50% of its assets to Underlying Funds that invest primarily in equity securities, 50%-70% to Underlying Funds that invest primarily in fixed-income securities and 0-25% to Underlying Funds that invest primarily in money market securities.

JNL/S&P Managed Moderate Growth Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC)

Seeks capital growth and current income by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.

Under normal circumstances, the Fund allocates approximately 50%-70% of its assets to Underlying Funds that invest primarily in equity securities, 30%-50% to Underlying Funds that invest primarily in fixed-income securities and 0%-20% to Underlying Funds that invest primarily in money market securities.

JNL/S&P Managed Growth Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC)

Seeks capital growth, with current income as a secondary objective, by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.

Under normal circumstances, the Fund allocates approximately 70%-90% of its assets to Underlying Funds that invest primarily in equity securities, 10%-30% to Underlying Funds that invest primarily in fixed-income securities and 0-15% to Underlying Funds that invest primarily in money market securities.

JNL/S&P Managed Aggressive Growth Fund

Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services LLC)

Seeks capital growth by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.

Under normal circumstances, the Fund allocates up to 80%-100% of its assets to Underlying Funds that invest primarily in equity securities, 0%-20% to Underlying Funds that invest primarily in fixed-income securities and 0%-10% to Underlying Funds that invest primarily in money market securities.

JNL Disciplined Moderate Fund

Jackson National Asset Management, LLC

Seeks capital growth, and secondarily, current income by investing in Class A shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.

Under normal circumstances, the Fund allocates approximately 40%-80% of its assets to Underlying Funds that invest primarily in equity securities, 20%-60% to Underlying Funds that invest primarily in fixed-income securities and 0%-20% of its assets to Underlying Funds that invest primarily in money market securities.

JNL Disciplined Moderate Growth Fund

Jackson National Asset Management, LLC

Seeks capital growth and current income by investing in Class A shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.

Under normal circumstances, the Fund allocates approximately 60%-90% of its assets to Underlying Funds that invest primarily in equity securities, 10%-40% to Underlying Funds that invest primarily in fixed-income securities and 0%-20% of its assets to Underlying Funds that invest primarily in money market securities.

JNL Disciplined Growth Fund

Jackson National Asset Management, LLC

Seeks capital growth by investing in Class A shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.

Under normal circumstances, the Fund allocates approximately 70%-100% of its assets to Underlying Funds that invest primarily in equity securities, 0%-30% to Underlying Funds that invest primarily in fixed-income securities and 0%-20% of its assets to Underlying Funds that invest primarily in money market securities.

JNL Variable Fund LLC

JNL/Mellon Capital Dow ^SM Index Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through a combination of capital appreciation and dividend income by investing in the thirty securities which comprise the Dow Jones Industrial Average (“DJIA”), with the weight of each security in the Fund substantially corresponding to the weight of such security in the DJIA.

JNL/Mellon Capital Global 30 Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through a combination of capital appreciation and dividend income by investing approximately equal amounts in the securities which comprise the Dow Jones Industrial Average (“DJIA”), the Financial Times Ordinary Index (“FT30 Index”) and the Hang Seng Index. The Fund consists of the ten securities in each of the DJIA, the FT30 Index and the Hang Seng Index, respectively, that have the highest dividend yields in their respective index.

JNL/Mellon Capital Nasdaq^® 100 Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return by investing in the securities which comprise the NASDAQ-100 Index ^® . The Fund seeks to invest under normal circumstances at least 80% of its assets in the stocks in the NASDAQ 100 Index in proportion to their market capitalization weighting in the NASDAQ 100 Index.

JNL/Mellon Capital S&P^® SMid 60 Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks capital appreciation by investing in the 30 securities that comprise the Standard & Poor's MidCap 400 Index and 30 that comprise the Standard & Poor's SmallCap 600 Index. The Fund seeks to achieve its objective by identifying small and mid-capitalization companies with improving fundamental performance and sentiment. The sub-adviser follows a process that attempts to select small and mid-capitalization companies that are likely to be in an earlier stage of their economic life cycle than mature large-capitalization companies.

JNL/Mellon Capital JNL 5 Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through capital appreciation and dividend income by investing in the securities that are identified by a model based on five different specialized strategies:


Ø	20% in the Dow^SM 10 Strategy, a dividend yielding strategy;


Ø	20% in the S&P^® 10 Strategy, a blended valuation-momentum strategy;


Ø	20% in the Global 15 Strategy, a dividend yielding strategy;


Ø	20% in the 25 Strategy, a dividend yielding strategy; and


Ø	20% in the Select Small-Cap Strategy, a small capitalization strategy.

JNL/Mellon Capital Communications Sector Fund (Please Note: The Investment Division investing in the JNL/Mellon Capital Communications Sector Fund is not accepting any additional allocations or transfers.)

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Telecommunication Services 25/50 Index in proportion to their market capitalization weighting in the MSCI USA IMI Telecommunication Services 25/50 Index.

JNL/Mellon Capital Consumer Brands Sector Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Consumer Discretionary Index in proportion to their market capitalization weighting in the MSCI USA IMI Consumer Discretionary Index.

JNL/Mellon Capital Financial Sector Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the securities in the MSCI USA IMI Financials Index in proportion to their market capitalization weighting in the MSCI USA IMI Financials Index.

JNL/Mellon Capital Healthcare Sector Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the securities in the MSCI USA IMI Health Care Index in proportion to their market capitalization weighting in the MSCI USA IMI Health Care Index.

JNL/Mellon Capital Oil & Gas Sector Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Energy Index in proportion to their market capitalization weighting in the MSCI USA IMI Energy Index.

JNL/Mellon Capital Technology Sector Fund

Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)

Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Information Technology Index in proportion to their market capitalization weighting in the MSCI USA IMI Information Technology Index.

Jackson Variable Series Trust

JNL/DoubleLine^® Total Return Fund

Jackson National Asset Management, LLC (and DoubleLine Capital LP)

Seeks to maximize total return by investing, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in bonds.

JNL/PIMCO Credit Income Fund

Jackson National Asset Management, LLC (and Pacific Investment Management Company LLC)

Seeks maximum total return, consistent with preservation of capital and prudent investment management by investing, under normal circumstances, at least 80% of its assets in a diversified portfolio of investment grade corporate fixed-income securities of varying maturities, which may be represented by forwards, repurchase agreements, reverse repurchase agreements or loan participations and assignments or derivatives such as options, futures contracts or swap agreements.

JNL/T. Rowe Price Capital Appreciation Fund

Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)

Seeks long-term capital appreciation by investing primarily in common stocks. The Fund may also hold fixed income and other securities to help preserve principal value. The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 50% of its total assets in common stocks. The remaining assets are generally invested in convertible securities, corporate and government debt, bank loans (which represent an interest in amounts owed by a borrower to a syndicate of lenders), and foreign securities, in keeping with the Fund’s objective. The Fund may invest up to 25% of its total assets in foreign securities.

The investment objectives and policies of certain Funds are similar to the investment objectives and policies of other mutual funds that the Funds' investment sub-advisers also manage. Although the objectives and policies may be similar, the investment results of the Funds may be higher or lower than the results of those other mutual funds. We cannot guarantee, and make no representation, that the investment results of similar funds will be comparable even though the funds have the same investment sub-advisers. The Funds described are available only through variable annuity contracts issued by Jackson of NY. They are NOT offered or made available to the general public directly.

A Fund's performance may be affected by risks specific to certain types of investments, such as foreign securities, derivative investments, non-investment grade debt securities, initial public offerings (IPOs) or companies with relatively small market capitalizations. IPOs and other investment techniques may have a magnified performance impact on a Fund with a small asset base. A Fund may not experience similar performance as its assets grow.

You should read the summary prospectuses for the Funds and/or the prospectuses for the JNL Series Trust, the JNL Variable Fund LLC, and the Jackson Variable Series Trust carefully before investing. The summary prospectuses for the Funds are attached to this prospectus. The summary prospectuses for the Funds and prospectuses for the JNL Series Trust, the JNL Variable Fund LLC, and the Jackson Variable Series Trust may also be obtained at no charge by calling 1-800-599-5651 ( Jackson of NY Service Center) or 1-888-464-7779 (for NY contracts purchased through a bank or financial institution), by writing P.O. Box 30313, Lansing, Michigan 48909-7813, or by visiting www.jackson.com. Additional Funds and Investment Divisions may be available in the future.

Voting Rights. To the extent required by law, Jackson of NY will obtain from you and other Owners of the Contracts instructions as to how to vote when the Funds solicit proxies in conjunction with a vote of shareholders. When Jackson of NY receives instructions, we will vote all the shares Jackson of NY owns in proportion to those instructions. An effect of this proportional voting is that a relatively small number of Owners may determine the outcome of a vote.

Substitution. Jackson of NY may be required or determine in its sole discretion to substitute a different mutual Fund for the one in which the Investment Division is currently invested. This will be done with any required approval of the SEC and the New York Insurance Department. Jackson of NY will give you notice of such transactions.

CONTRACT CHARGES

There are charges associated with your Contract, the deduction of which will reduce the investment return of your Contract. Some of these charges are for optional endorsements, as noted, so they are deducted from your Contract Value only if you selected to add that optional endorsement to your Contract. These charges may be a lesser amount where required by state law or as described below, but will not be increased. We expect to profit from certain charges assessed under the Contract. These charges (and certain other expenses) are as follows:

Mortality and Expense Risk Charge. Each day as part of our calculation of the value of the Accumulation Units and annuity units, Jackson of NY makes a deduction for the Mortality and Expense Risk Charge. On an annual basis, this charge equals 1.35% of the average daily net asset value of your allocations to the Investment Divisions. This charge does not apply to the Guaranteed Fixed Account.

The Mortality and Expense Risk Charge compensates us for the risks we assume in connection with all the Contracts, not just your Contract. The mortality risks that Jackson of NY assumes arise from our obligations under the Contracts:


•	to make income payments for the life of the Annuitant during the income phase; and


•	to provide a standard death benefit prior to the Income Date.

The expense risk that Jackson of NY assumes is the risk that our actual cost of administering the Contracts and the Investment Divisions will exceed the amount that we receive from the administration charge and the annual contract maintenance charge.

Administration Charge. Each day, as part of our calculation of the value of the Accumulation Units and annuity units, we make a deduction for administration charges. On an annual basis, these charges equal 0.15% of the average daily net asset value of your allocations to the Investment Divisions. This charge does not apply to the guaranteed fixed account. This charge compensates us for our expenses incurred in administering the Contracts and the Separate Account.

Annual Contract Maintenance Charge. During the accumulation phase, Jackson of NY deducts a $30 annual contract maintenance charge on the Contract Anniversary of the Issue Date. If you make a complete withdrawal from your Contract, the full annual contract maintenance charge will also be deducted. This charge is for administrative expenses. The annual contract maintenance charge will be assessed on the Contract Anniversary or upon full withdrawal and is deducted proportionally from Contract Value based on your allocations to the Investment Divisions and the Guaranteed Fixed Account.

Currently, Jackson of NY will not deduct this charge if, when the deduction is to be made, the value of your Contract is $50,000 or more. Jackson of NY may discontinue this practice at any time.

Transfer Fee. A transfer fee of $25 will apply to transfers in excess of 15 in a Contract Year. Jackson of NY may waive the transfer fee in connection with Dollar Cost Averaging, Rebalancing transfers and any transfers we require, and we may charge a lesser fee where required by state law.

Commutation Fee. If you make a total withdrawal from your Contract after income payments have commenced under income option 4, or if after your death during the period for which payments are guaranteed to be made under income option 3 your Beneficiary elects to receive a lump sum payment, the amount received will be reduced by (a) minus (b) where:


•	(a) = the present value of the remaining income payments (as of the date of calculation) for the period for which payments are guaranteed to be made, discounted at the rate assumed in calculating the initial payment; and


•	(b) = the present value of the remaining income payments (as of the date of calculation) for the period for which payments are guaranteed to be made, discounted at a rate no more than 1.00% higher than the rate used in (a).

7% Guaranteed Minimum Withdrawal Benefit (“SafeGuard 7 Plus”) Charge. If you select the 7% Guaranteed Minimum Withdrawal Benefit, you will pay 0.035% of the GWB each Contract month (0.42% annually), which we will waive at the end of a Contract month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. For more information about the GWB, please see “7% Guaranteed Minimum Withdrawal Benefit” beginning on page 45.

PLEASE NOTE: EFFECTIVE MARCH 31, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

We deduct the charge from your Contract Value pro rata over each applicable Investment Division by canceling Accumulation Units rather than as part of the calculation to determine accumulation unit value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The charge is prorated, from the endorsement's effective date, to the end of each Contract month (monthly anniversary) after selection. Similarly, the charge is prorated upon termination of the endorsement, including upon conversion (if conversion is permitted).

We reserve the right to prospectively change the charge: on new Contracts; if you select this benefit after your Contract is issued; or with a Step-Up – subject to a maximum charge of 0.75% annually. The actual deduction of the charge will be reflected in your quarterly statement. We stop deducting the charge on the earlier date that you annuitize the Contract, or your Contract Value is zero. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “7% Guaranteed Minimum Withdrawal Benefit” beginning on page 45. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up (“SafeGuard Max”) Charge. If you select the Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up, you pay the charge, currently 0.0375% of the GWB each Contract Month (0.45% annually). We will waive the charge at the end of a Contract Month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. For more information about the GWB, please see “Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up” beginning on page 48.

PLEASE NOTE: EFFECTIVE MAY 1, 2010, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

We deduct the charge from your Contract Value on a pro rata basis over each applicable Investment Division. With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. Upon termination of the endorsement, the charge is prorated for the period since the last monthly charge.

We reserve the right to prospectively change the charge: on new Contracts; if you select this benefit after your Contract is issued; or upon election of a Step-Up – subject to a maximum charge of 0.81% annually.

The actual deduction of the charge will be reflected in your quarterly statement. We stop deducting this charge on the earlier date that you annuitize the Contract, or your Contract Value is zero. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the

prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up” beginning on page 48. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 5”) Charge. If you select the 5% GMWB With Annual Step-Up you will pay 0.055% of the GWB each Contract month (0.66% annually), which we will waive at the end of a Contract month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. The actual deduction of the charge will be reflected in your quarterly statement. For more information about the GWB, please see “5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 53. We deduct the charge from your Contract Value pro rata over each applicable Investment Division by canceling Accumulation Units rather than as part of the calculation to determine accumulation unit value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The charge is prorated, from the endorsement's effective date, to the end of each Contract month (monthly anniversary) after selection. Similarly, the charge is prorated upon termination of the endorsement, including upon conversion (if conversion is permitted).

PLEASE NOTE: EFFECTIVE MAY 1, 2011, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

The charge may be reduced if you do not take any withdrawals before the fifth Contract Anniversary, or before the tenth Contract Anniversary, after the endorsement's effective date. If you have not taken any withdrawals before the fifth Contract Anniversary, then you will pay 0.0375% of the GWB each Contract month (0.45% annually). After the tenth Contract Anniversary if no withdrawals have been taken, you will pay 0.0175% of the GWB each Contract month (0.21% annually). We reserve the right to prospectively change the charge on new Contracts; if you select this benefit after your Contract is issued; or with a Step-Up that you request (not on Step-Ups that are automatic) – subject to a maximum charge of 1.47% annually. We stop deducting this charge on the earlier date that you annuitize the Contract, or your Contract Value is zero. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “5% Guaranteed Minimum Withdrawal Benefit with Annual Step-Up” beginning on page 53. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 6”) Charge. If you select the 6% GMWB With Annual Step-Up you will pay 0.0725% of the GWB each Contract month (0.87% annually), which we will waive at the end of a Contract month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. The actual deduction of the charge will be reflected in your quarterly statement. For more information about the GWB, please see “6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 57. We deduct the charge from your Contract Value on a pro rata basis over each applicable Investment Division by canceling Accumulation Units rather than as part of the calculation to determine accumulation unit value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The charge is prorated, from the endorsement's effective date, to the end of each Contract month (monthly anniversary) after selection. Similarly, the charge is prorated upon termination of the endorsement, including upon conversion (if conversion is permitted).

PLEASE NOTE: EFFECTIVE MAY 1, 2011, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

The charge may be reduced if you do not take any withdrawals before the fifth Contract Anniversary, or before the tenth Contract Anniversary, after the endorsement's effective date. If you have not taken any withdrawals before the fifth Contract Anniversary, then you will pay 0.05% of the GWB each Contract month (0.60% annually). After the tenth Contract Anniversary if no withdrawals have been taken, you will pay 0.025% of the GWB each Contract month (0.30% annually). We reserve the right to prospectively change the charge on new Contracts; if you select this benefit after your Contract is issued; or with a Step-Up that you request (not on Step-Ups that are automatic) – subject to a maximum charge of 1.62% annually. We stop deducting this charge on the earlier date that you annuitize the Contract, or your Contract Value is zero. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “6% Guaranteed Minimum Withdrawal Benefit with Annual Step-

Up” beginning on page 57. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

5% Guaranteed Minimum Withdrawal Benefit Without Step-Up (“MarketGuard 5”) Charge. If you select the 5% GMWB without Step-Up, you will pay 0.0175% of the GWB each Contract month (0.21% annually), which we will waive at the end of a Contract month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. The actual deduction of the charge will be reflected in your quarterly statement. For more information about the GWB, please see “5% Guaranteed Minimum Withdrawal Benefit Without Step-Up” beginning on page 60.

PLEASE NOTE: EFFECTIVE OCTOBER 6, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

We deduct the charge from your Contract Value on a pro rata basis over each applicable Investment Division. With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine accumulation unit value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The charge is prorated, from the endorsement's effective date, to the end of each Contract month (monthly anniversary) after selection. Similarly, the charge is prorated upon termination of the endorsement, including upon conversion (if conversion is permitted).

The charge may be reduced if you do not take any withdrawals before the fifth Contract Anniversary, or before the tenth Contract Anniversary, after the endorsement's effective date. If you have not taken any withdrawals before the fifth Contract Anniversary, then you will pay 0.0125% of the GWB each Contract month (0.15% annually). After the tenth Contract Anniversary if no withdrawals have been taken, you will pay 0.01% of the GWB each Contract month (0.12% annually). We reserve the right to prospectively change the charge on new Contracts, or before you select this benefit if after your Contract is issued, or, subject to a maximum charge of 0.51% annually. We stop deducting this charge on the earlier date that you annuitize the Contract, or your Contract Value is zero. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. Upon election of the GMWB, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “5% Guaranteed Minimum Withdrawal Benefit Without Step-Up” beginning on page 60. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Advantage”) Charge. The charge for this GMWB is expressed as an annual percentage of the GWB and depends on the Owner's age when the endorsement is added to the Contract. The charge varies by age group (see table below). For more information about the GWB, please see “5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 63. With joint Owners, the charge is based on the older Owner's age. For the Owner that is a legal entity, the charge is based on the Annuitant's age. (With joint Annuitants, the charge is based on the older Annuitant's age.)

PLEASE NOTE: EFFECTIVE MARCH 31, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.



Annual Charge	Maximum	Current
Ages 45 – 49	1.02% ÷ 12	0.57% ÷ 12
50 – 54	1.17% ÷ 12	0.72% ÷ 12
55 – 59	1.50% ÷ 12	0.96% ÷ 12
60 – 64	1.50% ÷ 12	0.96% ÷ 12
65 – 69	1.50% ÷ 12	0.96% ÷ 12
70 – 74	0.90% ÷ 12	0.57% ÷ 12
75 – 80	0.66% ÷ 12	0.42% ÷ 12
Charge Basis	GWB
Charge Frequency	Monthly

You pay the applicable annual percentage of the GWB each month. But the charge is waived at the end of a Contract month to the extent it exceeds the amount of your Contract Value allocated to the Investment Divisions. We deduct the charge from your Contract Value pro rata over each applicable Investment Division by canceling Accumulation Units rather than as part of the calculation to determine accumulation unit value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. The charge is prorated, from the endorsement's effective date, to the end of each Contract month (monthly anniversary) after selection. Similarly, the charge is prorated upon termination of the endorsement, including upon conversion (if conversion is permitted).

We reserve the right to prospectively change the charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the applicable maximum annual charge. We may also change the charge when you elect a Step-Up (not on Step-Ups that are automatic), again subject to the applicable maximum annual charge.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero. Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate. For more information, please see “Termination” under “5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 68. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 63. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“LifeGuard Ascent”) Charge. If you select the For Life Guaranteed Minimum Withdrawal Benefit, you will pay 0.08% of the GWB each Contract month (0.96% annually), which we will waive at the end of a Contract month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. For more information about the GWB, please see “For Life Guaranteed Minimum Withdrawal Benefit” beginning on page 70.

PLEASE NOTE: EFFECTIVE MARCH 31, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

We reserve the right to prospectively change the charge on new Contracts; if you select this benefit after your Contract is issued; or with a Step-Up that you request (not on Step-Ups that are automatic) – subject to a maximum charge of 1.50% annually.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero. Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate. For more information, please see “Termination” under “For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 76. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 70. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

Joint For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“LifeGuard Ascent With Joint Option”) Charge. If you select the Joint For Life Guaranteed Minimum Withdrawal Benefit, you will pay 0.0975% of the GWB each Contract month (1.17% annually), which we will waive at the end of a Contract month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. For more information about the GWB, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit” beginning on page 77.

PLEASE NOTE: EFFECTIVE MARCH 31, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

Contract month (monthly anniversary) after selection. Similarly, the charge is prorated upon termination of the endorsement, including upon conversion (if conversion is permitted).

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero. Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate. For more information, please see “Termination” under “Joint For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 83. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 77. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom GMWB”) Charge. If you select the For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up, you will pay 0.08% of the GWB each Contract Month (0.96% annually), which we will waive at the end of a Contract Month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. For more information about the GWB, please see “For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up” beginning on page 84. We deduct the charge from your Contract Value pro rata over each applicable Investment Division by canceling accumulation units rather than as part of the calculation to determine Accumulation Unit Value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last monthly charge.

PLEASE NOTE: EFFECTIVE SEPTEMBER 28, 2009, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

We reserve the right to prospectively change the charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the maximum charge of 1.50% annually. We may also change the charge when there is a Step-Up on or after the fifth Contract Anniversary (eleventh Contract Anniversary if this endorsement is added to the Contract before January 12, 2009), again subject to the maximum annual charge. If the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary. You may then elect to discontinue the automatic Step-Up provision and the GMWB charge will not increase but remain at its then current level.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero. Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate. For more information, please see “Termination” under “For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 92. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 84. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom GMWB With Joint Option”) Charge. If you select the Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up, you will pay 0.105% of the GWB each Contract Month (1.26% annually), which we will waive at the end of a Contract Month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. For more information about the GWB, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up” beginning on page 95. We deduct the charge from your Contract Value pro rata over each applicable Investment Division by canceling accumulation units rather than as part of the calculation to determine Accumulation Unit Value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. Upon termination of the

endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last monthly charge.

PLEASE NOTE: EFFECTIVE SEPTEMBER 28, 2009, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

We reserve the right to prospectively change the charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the maximum charge of 1.86% annually. We may also change the charge when there is a Step-Up on or after the fifth Contract Anniversary (eleventh Contract Anniversary if this endorsement is added to the Contract before January 12, 2009), again subject to the maximum annual charge. If the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary. You may then elect to discontinue the automatic Step-Up provision and the GMWB charge will not increase but remain at its then current level.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero. Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate. For more information, please see “Termination” under “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 103. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 95. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom 6 GMWB”) Charge. If you select the For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up, you will pay 0.08% of the GWB each Contract Month (0.96% annually), which we will waive at the end of a Contract Month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. For more information about the GWB, please see “For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 106. We deduct the charge from your Contract Value pro rata over each applicable Investment Division by canceling accumulation units rather than as part of the calculation to determine Accumulation Unit Value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last monthly charge.

PLEASE NOTE: EFFECTIVE OCTOBER 11, 2010, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

We reserve the right to prospectively change the charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the annual charge of 1.50% annually. We may also change the charge when there is a step-up on or after the fifth Contract Anniversary, again subject to the maximum annual charge. If the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary. You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level. Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus. While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase. Also know that you may subsequently elect to reinstate the Step-Up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero. Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate. For more information, please see “Termination” under “For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 113. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 106. Also see “Guaranteed

Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Freedom 6 GMWB With Joint Option”) Charge. If you select the Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up, you will pay 0.105% of the GWB each Contract Month (1.26% annually), which we will waive at the end of a Contract Month to the extent that the charge exceeds the amount of your Contract Value allocated to the Investment Divisions. For more information about the GWB, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 115. We deduct the charge from your Contract Value pro rata over each applicable Investment Division by canceling accumulation units rather than as part of the calculation to determine Accumulation Unit Value. While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB. Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last monthly charge.

PLEASE NOTE: EFFECTIVE OCTOBER 11, 2010, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

We reserve the right to prospectively change the charge on new Contracts, or if you select this benefit after your Contract is issued, subject to the maximum annual charge of 1.86% annually. We may also change the charge when there is a step-up on or after the fifth Contract Anniversary, again subject to the maximum annual charge. If the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary. You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level. Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus. While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase. Also know that you may subsequently elect to reinstate the Step-Up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero. Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate. For more information, please see “Termination” under “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 123. Please check with your representative to learn about the current level of the charge, or contact us at the Jackson of NY Service Center for more information. Our contact information is on the first page of the prospectus. In addition, please consult the representative to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of the GMWB and a Step-Up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up” beginning on page 115. Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

Other Expenses. Jackson of NY pays the operating expenses of the Separate Account, including those not covered by the mortality and expense and administrative charges. There are deductions from and expenses paid out of the assets of the Fund. These expenses are described in the attached summary prospectuses for the Funds.

Premium Taxes. Some states and other governmental entities charge premium taxes or other similar taxes. Jackson of NY is responsible for the payment of these taxes and may make a deduction from the value of the Contract for them. Currently, the deduction would be 2% of a premium payment, but we are not required to pay premium taxes.

Income Taxes. Jackson of NY reserves the right, when calculating unit values, to deduct a credit or charge with respect to any taxes paid by or reserved for Jackson of NY during the valuation period which are determined by Jackson of NY to be attributable to the operation of the Separate Account, or to a particular Investment Division. No federal income taxes are applicable under present law, and we are not presently making any such deduction.

DISTRIBUTION OF CONTRACTS

Jackson National Life Distributors LLC ("Distributor"), located at 7601 Technology Way, Denver, Colorado 80237, serves as the distributor of the Contracts. Distributor also serves as distributor of other variable insurance products issued by Jackson of NY and its parent, Jackson National Life Insurance Company (“Jackson”).

Distributor is a wholly owned subsidiary of Jackson. Distributor is registered as a broker-dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934 and is a member of the Financial Industry Regulatory Authority (“FINRA”). Distributor is not a member of the Securities Investor Protection Corporation (“SIPC”). For more information on broker-dealers and their registered representatives, you may use the FINRA BrokerCheck program via telephone (1-800-289-9999) or the Internet (http://brokercheck.finra.org).

The Contracts are offered to customers of various financial institutions, brokerage firms and their affiliate insurance agencies (each a "Financial Institution," collectively "Financial Institutions"). No Financial Institution has any legal responsibility to pay amounts that are owed under the Contracts. The obligations and guarantees under the Contracts are the sole responsibility of Jackson. The Financial Institutions are responsible for delivery of various related disclosure documents and the accuracy of their oral description and suitable recommendation of the purchase of the Contracts.

Commissions are paid to Financial Institutions that sell the Contracts. While commissions may vary, they are not expected to exceed 8% of any premium payment. Where lower commissions are paid up front, trail commissions may also be paid. Commissions may also be paid on the Income Date if the annuity option selected involves a life contingency or a payout over a period of ten or more years. The Financial Institutions determine the amount of the commission that will be paid to their registered representatives. The amounts paid may vary based upon the practices of each Financial Institution.

Under certain circumstances, the Distributor and/or Jackson of NY or our affiliates may make payments to Financial Institutions in addition to commissions , in connection with the sale of Jackson and Jackson of NY variable insurance products . These payments and/or reimbursements are in recognition of marketing, distribution, and/or administrative support provided by the Financial Institution and may not be offered to all Financial Institutions. The terms of these arrangements vary widely depending on, among other things, products offered; the level and type of marketing, distribution, and administrative support services provided; assets under management; and the volume of sales; and the level of access we are provided to the registered representatives of the Financial Institution. Such payments may influence Financial Institutions and/or their registered representatives to present the Contracts more favorably than other investment alternatives. Such compensation is subject to applicable state insurance law and regulation and the FINRA rules of conduct and Department of Labor (“DOL”) rules and regulations . While such compensation may be significant, it will not result in any additional direct charge by us to you.

Under these compensation structures, the Distributor and/or Jackson of NY or our affiliates may make marketing allowance payments and marketing support payments to the Financial Institutions . Marketing allowance payments are payments that are designed as consideration for product placement and distribution , assets under management, and sales volume. Marketing allowance payments are generally based on a fixed percentage of annual product sales and generally range from 10 to 50 basis points (0.10% to 0.50%). Payments may also be based on a percentage of assets under management or paid as a specified dollar amount. Marketing support payments may be in the form of cash and/or non-cash compensation to or on behalf of Financial Institutions and their registered representatives, and are intended to provide us with exposure to registered representatives so that we may build relationships or educate them about product features and benefits,. Examples of such payments include, but are not limited to, reimbursements for representative training or “due diligence” meetings (including travel and lodging expenses); client and prospecting events; speaker fees; business development and educational enhancement items (such as software packages containing information for broker use, or prospecting lists); sponsorship payments for participation at conferences and meetings; and other support services, including payments to third party vendors for such services. Payments or reimbursements for meetings and seminars are generally based on the anticipated level of participation and/or accessibility and the size of the audience. Subject to applicable laws and regulations including FINRA rules of conduct and DOL rules and regulations , we may also provide cash and/or non-cash compensation to registered representatives in the form of gifts, promotional items, occasional meals, and entertainment. Registered representatives may qualify for different levels of sales and service support depending on the volume of business that they do with us.

We may use any of our corporate assets to cover the cost of distribution, including any profit from the Contract's mortality and expense risk charge and other charges.

The alphabetical listing below details the 20 Financial Institutions that received the largest amounts of marketing allowance payments and/or marketing support payments in 2016 from the Distributor and/or Jackson of NY or our affiliates in relation to the sale of Jackson and Jackson of NY variable insurance products. The total payments received by a Financial Institution is based on sales of all Jackson and Jackson of NY variable insurance products, thus a Financial Institution may appear on the list even if it is not receiving any payments with respect to sales of the Contracts. Payments to these firms range from approximately $525 thousand to approximately $22 million.

Cetera Advisor Networks, LLC

Cetera Advisors, LLC

Commonwealth Financial Network

INVEST Financial Corporation*

Lincoln Financial Advisors

LPL Financial Services

Merrill Lynch

MetLife Securities, Inc.

MML Investors Services, LLC

Morgan Stanley

National Planning Corporation*

Raymond James & Associates, Inc.

Securities America, Inc.

Signator Investors, Inc.

SII Investments, Inc.*

Stifel Nicolaus & Company, Inc.

UBS Financial Services, Inc.

Voya Financial Advisors, Inc.

Wells Fargo Advisors, LLC

Woodbury Financial Services, Inc.

*Jackson affiliate.

Please see Appendix C for a complete list of Financial Institutions that received amounts of marketing allowance payments and/or marketing support payments in 201 6 from the Distributor and/or Jackson of NY or our affiliates in relation to the sale of our variable insurance products. While we endeavor to update this list on an annual basis, please note that interim changes or new arrangements may not be listed and may involve substantial payments on a forward going basis.

We may, under certain circumstances where permitted by applicable law, pay a bonus to a Contract purchaser to the extent the broker-dealer waives its commission. You can learn about the amount of any available bonus by calling the toll-free number on the cover page of this prospectus. Contract purchasers should inquire of the representative if such bonus is available to them and its compliance with applicable law.

Compensation is also paid to employees of the Distributor and/or Jackson of NY or our affiliates who are responsible for providing services to Financial Institutions. These employees are generally referred to as "wholesalers" and may meet with Financial Institutions and/or their registered representatives to provide training and sales support. The compensation paid to the wholesalers may vary based on a number of factors, including Premium payments; types of Contracts or optional benefits (if any) sold by the Financial Institutions that the wholesaler services; wholesaler performance; and overall company performance. The wholesaler may be required to achieve internally-assigned goals related to the same type of factors and may receive bonus payments for the achievement of individual and/or company-wide goals.

In addition to the Distributor, the following Financial Institutions are affiliated with Jackson and under common control within the same holding company structure:


•	National Planning Corporation,


•	SII Investments, Inc.,


•	IFC Holdings, Inc. d/b/a Invest Financial Corporation, and


•	Investment Centers of America, Inc.

The Distributor also has relationships with the sub-advisers to the various underlying Funds and their affiliates. The Distributor receives payments from some sub-advisers to assist in defraying the costs of certain promotional and marketing meetings hosted by the Distributor in which the sub-advisers participate. The amounts paid depend on the nature of the meetings, the number of meetings attended, the costs expected to be incurred and the level of the sub-adviser's participation. Our affiliated Financial Institutions may have other relationships with the sub-advisers (apart from Jackson) including selling retail mutual funds managed or advised by certain sub-advisers.

All of the compensation described here, and other compensation or benefits provided by the Distributor and/or Jackson of NY or our affiliates, may be greater or less than the total compensation on similar or other products. The amount and/or structure of the compensation can create a conflict of interest as it may influence your Financial Institution and registered representative to present this

Contract over other investment alternatives. The variations in compensation, however, may also reflect differences in sales effort or ongoing customer services expected of the Financial Institution and registered representative. You may ask your registered representative about any variations and how he or she and his or her Financial Institution are compensated for selling the Contract.

PURCHASES

Minimum Premium:

The Contract is a single premium Contract, which means that you cannot add additional premiums to this Contract after the first premium payment. The minimum premium must be at least $25,000.

The maximum premium we accept without our prior approval is $1 million.

There is a $100 minimum balance requirement for each Guaranteed Fixed Account and Investment Division. We reserve the right to restrict availability or impose restrictions on the Guaranteed Fixed Account options. A withdrawal request that would reduce the remaining Contract Value to less than $100 will be treated as a request for a complete withdrawal.

Allocations of Premium. When you purchase a Contract, Jackson of NY will allocate your premiums to one or more of the Guaranteed Fixed Account and Investment Divisions. Your allocations must be in whole percentages ranging from 0% to 100%. The minimum that you may allocate to a Guaranteed Fixed Account or Investment Division is $100.

You may not allocate your Contract Value to more than 99 Investment Divisions and the Guaranteed Fixed Account at any one time.

Jackson of NY will issue your Contract and allocate your first premium within two business days (days when the New York Stock Exchange is open) after we receive your first premium and all information required by us for the purchase of a Contract. If we do not receive all of the required information, we will contact you to get the necessary information. If for some reason Jackson of NY is unable to complete this process within five business days, we will return your money.

The Jackson of NY business day closes when the New York Stock Exchange closes (usually 4:00 p.m. Eastern time).

Capital Protection Program. Jackson of NY offers a Capital Protection program that a Contract Owner may request at issue. Under this program, Jackson of NY will allocate part of the premium to the Guaranteed Fixed Account you select so that such part, based on that Guaranteed Fixed Account's interest rate in effect on the date of allocation, will equal at the end of a selected period of 1 or 3 years, the total premium paid. The rest of the premium will be allocated to the Investment Divisions based on your allocation. If any part of the Fixed Account Value is surrendered or transferred before the end of the selected guarantee period, the value at the end of that period will not equal the original premium. This program is available only if the Guaranteed Fixed Account options are available. You should consult your Jackson of NY representative with respect to the current availability of Guaranteed Fixed Account options, their limitations, and the availability of the Capital Protection program.

For an example of capital protection, assume you made a premium payment of $10,000 when the interest rate for the three-year guaranteed period was 3% per year. We would allocate $9,152 to that guarantee period because $9,152 would increase at that interest rate to $10,000 after three years, assuming no withdrawals are taken. The remaining $848 of the payment would be allocated to the Investment Division(s) you selected.

Thus, as this example demonstrates, the shorter guarantee periods require allocation of substantially all your premium to achieve the intended result. In each case, the results will depend on the interest rate declared for the guarantee period.

Accumulation Units. Your Contract Value allocated to the Investment Divisions will go up or down depending on the performance of the Investment Divisions. In order to keep track of the value of your Contract during the accumulation phase, Jackson of NY uses a unit of measure called an “Accumulation Unit.” During the income phase we use a measure called an “Annuity Unit.”

Every business day Jackson of NY determines the value of an Accumulation Unit for each of the Investment Divisions by:


1.	determining the total amount of assets held in the particular Investment Division;


2.	subtracting any asset-based charges and taxes chargeable under the Contract; and


3.	dividing this amount by the number of outstanding Accumulation Units.

Charges deducted through the cancellation of units are not reflected in the computation.

The value of an Accumulation Unit may go up or down from day to day. The base Contract has a different accumulation unit value than each combination of optional endorsements an Owner may elect, based on the differing amount of charges applied in calculating that accumulation unit value.

When you make a premium payment, Jackson of NY credits your Contract with Accumulation Units. The number of Accumulation Units credited is determined at the close of Jackson of NY's business day by dividing the amount of the premium allocated to any Investment Division by the value of the Accumulation Unit for that Investment Division that reflects the combination of optional endorsements you have elected and their respective charges.

TRANSFERS AND FREQUENT TRANSFER RESTRICTIONS

You may transfer your Contract Value between and among the Investment Divisions at any time, unless transfers are subject to other limitations, but transfers between the Guaranteed Fixed Account and an Investment Division must occur prior to the Income Date. Transfers from the Guaranteed Fixed Account will be subject to any applicable interest rate adjustment. There may be periods when we do not offer the Guaranteed Fixed Account, or when we impose special transfer requirements on the Guaranteed Fixed Account. If a renewal occurs within one year of the Income Date, we will continue to credit interest up to the Income Date at the then current interest rate for the applicable Guaranteed Fixed Account option. You can make 15 transfers every Contract Year without charge.

A transfer will be effective as of the end of the business day when we receive your transfer request in Good Order, and we will disclaim all liability for transfers made based on your transfer instructions, or the instructions of a third party authorized to submit transfer requests on your behalf.

Restrictions on Transfers: Market Timing. The Contract is not designed for frequent transfers by anyone. Frequent transfers between and among Investment Divisions may disrupt the underlying Funds and could negatively impact performance, by interfering with efficient management and reducing long-term returns, and increasing administrative costs. Frequent transfers may also dilute the value of shares of an underlying Fund. Neither the Contracts nor the underlying Funds are meant to promote any active trading strategy, like market timing. Allowing frequent transfers by one or some Owners could be at the expense of other Owners of the Contract. To protect Owners and the underlying Funds, we have policies and procedures to deter frequent transfers between and among the Investment Divisions.

Under these policies and procedures, there is a $25 charge per transfer after 15 in a Contract Year, and no round trip transfers are allowed within 15 calendar days. Also, we could restrict your ability to make transfers to or from one or more of the Investment Divisions, which possible restrictions may include, but are not limited to:


•	limiting the number of transfers over a period of time;


•	requiring a minimum time period between each transfer;


•	limiting transfer requests from an agent acting on behalf of one or more Owners or under a power of attorney on behalf of one or more Owners; or


•	limiting the dollar amount that you may transfer at any one time.

To the extent permitted by applicable law, we reserve the right to restrict the number of transfers per year that you can request, and to restrict you from making transfers on consecutive business days. In addition, your right to make transfers between and among Investment Divisions may be modified if we determine that the exercise by one or more Owners is, or would be, to the disadvantage of other Owners.

We continuously monitor transfers under the Contract for disruptive activity based on frequency, pattern and size. We will more closely monitor Contracts with disruptive activity, placing them on a watch list, and if the disruptive activity continues, we will restrict the availability of electronic or telephonic means to make a transfer, instead requiring that transfer instructions be mailed through regular U.S. postal service, and/or terminate the ability to make transfers completely, as necessary. If we terminate your ability to make transfers, you may need to make a partial withdrawal to access the Contract Value in the Investment Division(s) from which you sought a transfer. We will notify you and your representative in writing within five days of placing the Contract on a watch list.

Regarding round trip transfers, we will allow redemptions from an Investment Division; however, once a complete or partial redemption has been made from an Investment Division through an Investment Division transfer, you will not be permitted to transfer any value back into that Investment Division within 15 calendar days of the redemption. We will treat as short-term trading activity

any transfer that is requested into an Investment Division that was previously redeemed within the previous 15 calendar days, whether the transfer was requested by you or a third party.

Our policies and procedures do not apply to the money market Investment Division, the Guaranteed Fixed Account, Dollar Cost Averaging, Earnings Sweep or the Automatic Rebalancing program. We may also make exceptions that involve an administrative error, or a personal unanticipated financial emergency of an Owner resulting from an identified health, employment, or other financial or personal event that makes the existing allocation imprudent or a hardship. These limited exceptions will be granted by an oversight team pursuant to procedures designed to result in their consistent application. Please contact our Jackson of NY Service Center if you believe your transfer request entails a financial emergency.

Otherwise, we do not exempt any person or class of persons from our policies and procedures. We have agreements allowing for asset allocation and investment advisory services that are not only subject to our policies and procedures, but also to additional conditions and limitations, intended to limit the potential adverse impact of these activities on other Owners of the Contract. We expect to apply our policies and procedures uniformly, but because detection and deterrence involves judgments that are inherently subjective, we cannot guarantee that we will detect and deter every Contract engaging in frequent transfers every time. If these policies and procedures are ineffective, the adverse consequences described above could occur. We also expect to apply our policies and procedures in a manner reasonably designed to prevent transfers that we consider to be to the disadvantage of other Owners, and we may take whatever action we deem appropriate, without prior notice, to comply with or take advantage of any state or federal regulatory requirement.

TELEPHONE AND INTERNET TRANSACTIONS

The Basics. You can request certain transactions by telephone or at www.jackson.com, Jackson of NY's Internet website, subject to Jackson of NY's right to terminate electronic or telephone transfer privileges, as described above. Jackson of NY's Customer Service representatives are available during business hours to provide you with information about your account. Jackson of NY requires that you provide proper identification before performing transactions over the telephone or through Jackson of NY's Internet website. For Internet transactions, this will include a Personal Identification Number (PIN). You may establish or change your PIN at www.jackson.com.

What You Can Do and How. You may make transfers by telephone or through the Internet unless you elect not to have this privilege. Any authorization you provide to Jackson of NY in an application, at Jackson of NY's website, or through other means will authorize Jackson of NY to accept transaction instructions, including Investment Division transfers/allocations, by you and your financial representative unless you notify Jackson of NY to the contrary. To notify Jackson of NY, please call us at the Jackson of NY Service Center. Our contact information is on the cover page of this prospectus and the number is referenced in your Contract or on your quarterly statement.

What You Can Do and When. When authorizing a transfer, you must complete your telephone call by the close of the New York Stock Exchange (usually 4:00 p.m. Eastern time) in order to receive that day's Accumulation Unit Value for an Investment Division.

Transfer instructions you send electronically are considered to be received by Jackson of NY at the time and date stated on the electronic acknowledgement Jackson of NY returns to you. If the time and date indicated on the acknowledgement is before the close of the New York Stock Exchange, the instructions will be carried out that day. Otherwise the instructions will be carried out the next business day. Jackson of NY will retain permanent records of all web-based transactions by confirmation number. If you do not receive an electronic acknowledgement, you should telephone the Jackson of NY Service Center immediately.

How to Cancel a Transaction. You may only cancel an earlier telephonic or electronic transfer request made on the same day by calling the Services Center before the New York Stock Exchange closes. Otherwise, your cancellation instruction will not be allowed because of the round trip transfer restriction.

Our Procedures. Jackson of NY's procedures are designed to provide reasonable assurance that telephone or any other electronic authorizations are genuine. Jackson of NY's procedures include requesting identifying information and tape-recording telephone communications, and other specific details. Jackson of NY and Jackson of NY's affiliates disclaim all liability for any claim, loss or expense resulting from any alleged error or mistake in connection with a transaction requested by telephone or other electronic means

that you did not authorize. However, if Jackson of NY fails to employ reasonable procedures to ensure that all requested transactions are properly authorized, Jackson of NY may be held liable for such losses.

Jackson of NY does not guarantee access to telephonic and electronic information or that Jackson of NY will be able to accept transaction instructions via the telephone or electronic means at all times. Jackson of NY also reserves the right to modify, limit,

restrict, or discontinue at any time and without notice the acceptance of instruction from someone other than you and/or this telephonic and electronic transaction privilege. Elections of any optional benefit or program must be in writing and will be effective upon receipt of the request in Good Order.

Upon notification of the Owner's death, any telephone transfer authorization, other than by the surviving joint Owners, designated by the Owner ceases and Jackson of NY will not allow such transactions unless the executor/representative provides written authorization for a person or persons to act on the executor's/representative's behalf.

ACCESS TO YOUR MONEY

You can have access to the money in your Contract:


•	by making either a partial or complete withdrawal,


•	by electing the systematic withdrawal program,


•	by electing a Guaranteed Minimum Withdrawal Benefit, or


•	by electing to receive income payments.

Your Beneficiary can have access to the money in your Contract when a death benefit is paid.

When you make a complete withdrawal you will receive the value of the Contract as of the end of the business day your withdrawal request is received by us in Good Order, minus any applicable taxes, the annual contract maintenance charge and charges under any optional endorsement. We will pay the withdrawal proceeds within seven days of a request in Good Order. If a Purchase Payment made by personal check or electronic draft is received within the five days preceding a withdrawal request, we may delay payment of the withdrawal proceeds up to seven days after the date of the request, to ensure the check or electronic draft is not returned due to insufficient funds.

Except in connection with the systematic withdrawal program, you must withdraw at least $500 or, if less, the entire amount in the Guaranteed Fixed Account or Investment Division from which you are making the withdrawal. After your withdrawal, at least $100 must remain in the Guaranteed Fixed Account or Investment Division from which the withdrawal was taken. A withdrawal request that would reduce the remaining Contract value to less than $100 will be treated as a request for a complete withdrawal.

Your withdrawal request must be in writing. Jackson of NY will accept withdrawal requests submitted via facsimile. There are risks associated with not requiring original signatures in order to disburse the money. To minimize the risks, the proceeds will be sent to your last recorded address in our records, so be sure to notify us, in writing with an original signature, of any address change. We do not assume responsibility for improper disbursements if you have failed to provide us with the current address to which the proceeds should be sent.

If you have an investment adviser who, for a fee, manages your Contract Value, you may authorize payment of the fee from the Contract by requesting a partial withdrawal. There are conditions and limitations, so please contact our Jackson of NY Service Center for more information. Our contract information is on the cover page of this prospectus. We neither endorse any investment advisers nor make any representations as to their qualifications. The fee for this service would be covered in a separate agreement between the two of you, and would be in addition to the fees and expenses described in this prospectus.

Income taxes, tax penalties and certain restrictions may apply to any withdrawal you make. There are limitations on withdrawals from qualified plans. For more information, please see “TAXES” beginning on page 129.

Guaranteed Minimum Withdrawal Benefit Considerations. Most people who are managing their investments to provide retirement income want to provide themselves with sufficient lifetime income and also to provide for an inheritance for their beneficiaries. The main obstacles they face in meeting these goals are the uncertainties as to (i) how much income their investments will produce, and (ii) how long they will live and will need to draw income from their investments. A Guaranteed Minimum Withdrawal Benefit (GMWB) is designed to help reduce these uncertainties.

A GMWB is intended to address those concerns but does not provide any guarantee the income will be sufficient to cover any individual's particular needs. Moreover, the GMWB does not assure that you will receive any return on your investments. The GMWB also does not protect against loss of purchasing power of assets covered by a GMWB due to inflation. Even relatively low levels of inflation may have a significant effect on purchasing power if not offset by stronger positive investment returns. The Step-Up feature on certain of the GMWBs may provide protection against inflation when there are strong investment returns that coincide

with the availability of effecting a Step-Up. However, strong investment performance will only help the GMWB guard against inflation if the endorsement includes a Step-Up feature.

Payments under the GMWB will first be made from your Contract Value. Our obligations to pay you more than your Contract Value will only arise under limited circumstances. Thus, in considering the election of any GMWB you need to consider whether the value to you of the level of protection that is provided by a GMWB and its costs, which reduce Contract Value and offset our risks, are consistent with your level of concern and the minimum level of assets that you want to be sure are guaranteed.

The Joint For Life GMWB with Bonus and Annual Step-Up is available only to spouses and differs from the For Life GMWB with Bonus and Annual Step-Up without the Joint Option (which is available to spouses and unrelated parties) and enjoys the following advantages:

•

If the Contract Value falls to zero, benefit payments under the endorsement will continue until the death of the last surviving Covered Life if the For Life Guarantee is effective. (For more information about the For Life Guarantee and for information on who is a Covered Life under this form of GMWB, please see the “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up” subsections beginning on pages 84, 106, and 115.)


•	If an Owner dies before the automatic payment of benefits begins, the surviving Covered Life may continue the Contract and the For Life Guarantee is not automatically terminated (as it is on the For Life GMWBs without the Joint Option).

The Joint For Life GMWB with Bonus and Annual Step-Up has a higher charge than the For Life GMWB with Bonus and Annual Step-Up without the Joint Option.

Guaranteed Minimum Withdrawal Benefit Important Special Considerations. Each of the GMWBs provides that the GMWB and all benefits thereunder will terminate on the Income Date, which is the date when annuity payments begin. The Income Date is either a date that you choose or the Latest Income Date. The Latest Income Date is generally the date on which the Owner attains age 90 under a non-qualified Contract, unless otherwise approved by the Company, or such earlier date as required by the applicable qualified plan, law or regulation.

Before (1) electing a GMWB, (2) electing to annuitize your Contract after having purchased a GMWB, or (3) when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB, you should consider whether the termination of all benefits under the GMWB and annuitizing produces the better financial results for you. Naturally, you should discuss with your Jackson representative whether a GMWB is even suitable for you. Consultation with your financial and tax advisor is also recommended.

These considerations are of greater significance if you are thinking about electing or have elected a GMWB For Life, as the For Life payments will cease when you annuitize voluntarily or on the Latest Income Date. Although each of the For Life GMWBs contain an annuitization option that may allow the equivalent of For Life payments when you annuitize on the Latest Income Date, all benefits under a GMWB For Life (and under the other GMWBs) will terminate when you annuitize. To the extent that we can extend the Latest Income Date without adverse tax consequences to you, we will do so, as permitted by the applicable qualified plan, law, or regulation. After you have consulted your financial and tax advisors you will need to contact us to request an extension of the Latest Income Date. Please also see “Extension of Latest Income Date” beginning on page 130 for further information regarding possible adverse tax consequences of extending the Latest Income Date.

In addition, with regard to required minimum distributions (RMDs) under an IRA only, it is important to consult your financial and tax advisor to determine whether the benefits of a particular GMWB will satisfy your RMD requirements. With regard to other qualified plans, you must determine what your qualified plan permits. Distributions under qualified plans and Tax-Sheltered Annuities must begin by the later of the calendar year in which you attain age 70 1/2 or the calendar year in which you retire. You do not necessarily have to annuitize your Contract to meet the minimum distribution.

Finally, please note that withdrawals in excess of certain limits may have a significantly negative impact on the value of your GMWB through prematurely reducing the benefit's Guaranteed Withdrawal Balance (GWB) and Guaranteed Annual Withdrawal Amount (GAWA) and, therefore, cause your GMWB to prematurely terminate. Please see the explanations of withdrawals under each of the following GMWB descriptions for more information concerning the effect of excess withdrawals.

7% Guaranteed Minimum Withdrawal Benefit (“SafeGuard 7 Plus”). The following description is supplemented by some examples in Appendix B that may assist you in understanding how the calculations are made in certain circumstances.

PLEASE NOTE: EFFECTIVE MARCH 31, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

For Owners 80 years old and younger on the Contract's Issue Date, or on the date on which this endorsement is selected if after the Contract's Issue Date, a 7% GMWB may be available, which permits an Owner to make partial withdrawals, prior to the Income Date that, in total, are guaranteed to equal the Guaranteed Withdrawal Balance (GWB)(as defined below), regardless of your Contract Value. The 7% GMWB is not available on a Contract that already has a GMWB (one GMWB only per Contract). We may further limit the availability of this optional endorsement. Once selected, the 7% GMWB cannot be canceled. If you select the 7% GMWB when you purchase your Contract, your net premium payment will be used as the basis for determining the GWB. The 7% GMWB may also be selected within 30 days before any Contract Anniversary. If you select the 7% GMWB after the Issue Date, to determine the GWB, we will use your Contract Value on the date the endorsement is added. The GWB can never be more than $5 million (including upon “Step-Up”), and the GWB is reduced with each withdrawal you take.

Once the GWB has been determined, we calculate the Guaranteed Annual Withdrawal Amount (GAWA), which is the maximum annual partial withdrawal amount, except for certain tax-qualified Contracts (as explained below). Upon selection, the GAWA is equal to 7% of the GWB. The GAWA will not be reduced if partial withdrawals taken within any one Contract Year do not exceed 7%. However, withdrawals are not cumulative. If you do not take 7% in one Contract Year, you may not take more than 7% the next Contract Year. If you withdraw more than 7%, the guaranteed amount available may be less than the total premium payments and the GAWA may be reduced. The GAWA can be divided up and taken on a payment schedule that you request. You can continue to take the GAWA each Contract Year until the GWB has been depleted.

Interest rate adjustments, as applicable, are taken into consideration in calculating the amount of your partial withdrawals pursuant to the 7% GMWB.

Any time a subsequent premium payment is made, we recalculate the GWB and the GAWA. Each time you make a premium payment, the GWB is increased by the amount of the net premium payment. Also, the GAWA will increase by 7% of the net premium payment or 7% of the increase in the GWB, if the maximum GWB is reached. We require prior approval for a subsequent premium payment, however, that would result in your Contract having $1 million of premiums in the aggregate. We also reserve the right to refuse subsequent premium payments. See Example 3b in Appendix B to see how the GWB is recalculated when the $5 million maximum is reached.

If the total of your partial withdrawals made in the current Contract Year is greater than the GAWA, we will recalculate your GWB and your GAWA may be lower in the future. In other words, withdrawing more than the GAWA in any Contract Year could cause the GWB to be reduced by more than the amount of the withdrawal(s) and even reset to the then current Contract Value, likely reducing the GAWA, too. Recalculation of the GWB and GAWA may result in reducing or extending the payout period. Examples 4, 5, and 7 in Appendix B illustrate the impact of such withdrawals.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is less than or equal to the GAWA, the GWB is equal to the greater of:


•	the GWB prior to the partial withdrawal less the partial withdrawal; or


•	zero.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA, the GWB is equal to the lesser of:


•	the Contract Value after the partial withdrawal; or


•	the greater of the GWB prior to the partial withdrawal less the partial withdrawal or zero.

If all your partial withdrawals made in the current Contract Year are less than or equal to the GAWA, the GAWA is the lesser of:


•	the GAWA prior to the partial withdrawal; or


•	the GWB after the partial withdrawal.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA, the GAWA is equal to the lesser of:


•	the GAWA prior to the partial withdrawal, or


•	the GWB after the partial withdrawal, or


•	7% of the Contract Value after the partial withdrawal.

Consistent with the explanation above, withdrawals greater than the GAWA (or required minimum distribution (RMD), if applicable – see below) may have a significantly negative impact on the value of this benefit through prematurely reducing the GWB and GAWA and, therefore, cause the benefit to prematurely terminate (see Example 5 in Appendix B). For purposes of these calculations, all partial withdrawals are assumed to be the total amount withdrawn, including any interest rate adjustments.

Withdrawals made under the guarantee of this endorsement are considered to be the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements. They are subject to the same restrictions and processing rules as described in the Contract.

For certain tax-qualified Contracts, the 7% GMWB allows for withdrawals greater than the GAWA to meet the RMD under the Internal Revenue Code (Code) without compromising the endorsement's guarantees. Examples 4, 5 and 7 in Appendix B supplement this description.

Required Minimum Distribution Calculations. Notice of an RMD is required at the time of your withdrawal request, and there is an administrative form for such notice. The administrative form allows for one time or systematic withdrawals. Eligible withdrawals that are specified as RMDs may only be taken based on the value of the Contract to which the endorsement applies, even where the Code allows for the taking of RMDs for multiple contracts from a single contract. You, as Owner, are responsible for complying with the Internal Revenue Code's RMD requirements. If your requested RMD exceeds our calculation of the RMD for your contract, your request will not be eligible for the waiver of any applicable charges and we will impose those charges, which will be reflected in the confirmation of the transaction. For information regarding the RMD calculation for your Contract, please contact our Jackson of NY Service Center. Our contact information is on the cover page of this prospectus.

Under the Code, RMDs are calculated and taken on a calendar year basis. But with the 7% GMWB, GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the endorsement's guarantees may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of either of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

Assume a tax-qualified Contract with a Contract Year that runs from July 1 to June 30, and that there are no withdrawals other than as described. The GAWA for the 2018 Contract Year (ending June 30) is $10. The RMDs for calendar years 2017 and 2018 are $14 and $16, respectively.

If the Owner takes $7 in each of the two halves of calendar year 2017 and $8 in each of the two halves of calendar year 2018, then at the time the withdrawal in the first half of calendar year 2018 is taken, the Owner will have withdrawn $15. Because the sum of the Owner's withdrawals for the 2018 Contract Year is less than the higher RMD for either of the two calendar years occurring in that Contract Year, the GWB and GAWA would not be adversely recalculated.

An exception to this general rule is that with the calendar year in which your RMDs are to begin (generally, when you reach age 70 1/2), however, you may take your RMDs for the current and next calendar years during the same Contract Year, as necessary (see example below).

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

If the Owner delays taking his first RMD (the 2017 RMD) until March 30, 2018, he may still take the 2018 RMD before the next Contract Year begins, June 30, 2018 without exposing the GWB and GAWA to the possibility of adverse recalculation. However, if he takes his second RMD (the 2018 RMD) after June 30, 2018, he should wait until the next Contract Year begins (that is after June 30, 2019) to take his third RMD (the 2019 RMD) because, except for the calendar year in which RMDs begin, taking two RMDs in a single Contract Year could cause the GWB and GAWA to be adversely recalculated (if the two RMDs exceeded the applicable GAWA for that Contract Year).

Examples that are relevant specific to tax-qualified Contracts, illustrating the GMWB in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix B, particularly examples 4, 5, and 7. Please consult the representative who helped you purchase your tax-qualified Contract, and your tax adviser, to be sure that the 7% GMWB ultimately suits your needs relative to your RMD.

Withdrawals made under section 72(t) or section 72(q) of the Code are not considered RMDs for purposes of preserving the guarantees under this GMWB. Such withdrawals that exceed the GAWA will have the same effect as any withdrawal or excess withdrawal as described above and, consistent with that description, may cause a significant negative impact to your benefit.

Step-Up. In the event Contract Value is greater than the GWB, the 7% GMWB allows the GWB to be reset to Contract Value (a “Step-Up”). Upon election of a Step-Up, the GMWB charge may be increased, subject to the maximum charges listed above.



With a Step-Up –	The GWB equals Contract Value.
	The GAWA is recalculated, equaling the greater of:
		●	7% of the new GWB; Or
		●	The GAWA before the Step-Up.

The first opportunity for a Step-Up is the fifth Contract Anniversary after the 7% GMWB is added to the Contract.

A Step-Up is allowed at any time, but there must always be at least five years between Step-Ups. The GWB can never be more than $5 million with a Step-Up. A request for Step-Up is processed and effective on the date received in Good Order. Please consult the representative who helped you purchase your Contract to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of a Step-Up, the applicable GMWB charge will be reflected in your confirmation.

Spousal Continuation. If the Contract is continued by the spouse, the spouse retains all rights previously held by the Owner and therefore may elect to add the 7% GMWB to the Contract within the 30 days prior to any Contract Anniversary following the continuation date of the original Contract's Issue Date. The 7% GMWB would become effective on the Contract Anniversary following receipt of the request in Good Order.

If the spouse continues the Contract and the 7% GMWB endorsement already applies to the Contract, the 7% GMWB will continue and no adjustment will be made to the GWB or the GAWA at the time of continuation. Your spouse may elect to “Step-Up” on the continuation date. If the Contract is continued under the Special Spousal Continuation Option, the value applicable upon “Step-Up” is the Contract Value, including any adjustments applied on the continuation date. Any subsequent “Step-Up” must follow the “Step-Up” restrictions listed above (Contract Anniversaries will continue to be based on the anniversary of the original Contract's Issue Date).

Termination. The 7% GMWB endorsement terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge on the date you annuitize or surrender the Contract. In surrendering the Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under the 7% GMWB. The 7% GMWB also terminates: with the Contract upon your death (unless the beneficiary who is your spouse continues the Contract); upon the first date both the GWB and Contract Value equal zero; or upon conversion, if permitted – whichever occurs first.

All other rights under your Contract cease and we will no longer accept subsequent premium payments and all optional endorsements are terminated without value. Upon your death as the Owner, your Beneficiary will receive the scheduled payments. No other death benefit will be paid.

Annuitization. If you decide to annuitize your Contract, you may choose the following income option instead of one of the other income options listed in your Contract:

Fixed Payment Income Option. This income option provides payments in a fixed dollar amount for a specific number of years. The actual number of years that payments will be made is determined on the calculation date by dividing the GWB by the GAWA. Upon each payment, the GWB will be reduced by the payment amount. The total annual amount payable will equal the GAWA but will never exceed the current GWB. This annualized amount will be paid over the specific number of years in the frequency (no less frequently than annually) that you select. If you should die (assuming you are the Owner) before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.

This income option may not be available if the Contract is issued to qualify under Sections 401, 403, 408 or 457 of the Internal Revenue Code. For such Contracts, this income option will only be available if the guaranteed period is less than the life expectancy of the Annuitant at the time the option becomes effective.

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

Effect of GMWB on Tax Deferral. The purchase of the 7% GMWB may not be appropriate for the Owners of Contracts who have as a primary objective taking maximum advantage of the tax deferral that is available to them under an annuity contract to accumulate assets. Please consult your tax and financial advisors on this and other matters prior to electing the 7% GMWB.

Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up (“SafeGuard Max”). The following description of this GMWB is supplemented by the examples in Appendix B, particularly example 2 for the varying benefit percentage and examples 6 and 7 for the Step-Ups.

PLEASE NOTE: EFFECTIVE MAY 1, 2010, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

This GMWB guarantees partial withdrawals during the Contract's accumulation phase (i.e., before the Income Date) until the earlier of:


•	The Owner's (or any joint Owner's) death;


•	Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.

The GWB is the guaranteed amount available for future periodic withdrawals.

PLEASE NOTE: The guarantees of this GMWB are subject to the endorsement's terms, conditions, and limitations that are explained below.

Please consult the representative who is helping, or who helped, you purchase your Contract to be sure that this GMWB ultimately suits your needs.

This GMWB is available to Owners up to 85 years old (proof of age is required); may be added to a Contract on the Issue Date or any Contract Anniversary; and once added cannot be canceled. At least 30 calendar days' prior notice and proof of age is required for Good Order to add this GMWB to a Contract on a Contract Anniversary. This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract). We allow ownership changes of a Contract with this GMWB (i) from an Owner that is a natural person to a trust, if that individual and the Annuitant are the same person or (ii) when the Owner is a legal entity , to another legal entity or the Annuitant , provided these changes are not taxable events under the Code . In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. Otherwise, ownership changes are not allowed. When the Owner is a legal entity, changing Annuitants is not allowed. Availability of this GMWB may be subject to further limitation.

There is a limit on withdrawals each Contract Year to keep the guarantees of this GMWB in full effect – the greater of the Guaranteed Annual Withdrawal Amount (GAWA) and for certain tax-qualified Contracts, the required minimum distribution (RMD) under the Internal Revenue Code. Withdrawals exceeding the limit cause the GWB and GAWA to be recalculated.

Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.



When this GMWB is added to the Contract on the Issue Date –	The GWB equals initial premium net of any applicable premium taxes.
	The GAWA is determined based on the Owner's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.



When this GMWB is added to the Contract on any Contract Anniversary –	The GWB equals Contract Value.
	The GAWA is determined based on the Owner's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.

Premium (net of any applicable premium taxes) is used to calculate the GWB when this GMWB is added to the Contract on the Issue Date. If you were to instead add this GMWB to your Contract post issue on any Contract Anniversary, the GWB is calculated based on Contract Value on that date. The GWB can never be more than $5 million (including upon Step-Up), and the GWB is reduced by each withdrawal.

PLEASE NOTE: Upon the Owner's death, this GMWB might be continued by a spousal Beneficiary. Please see the “Spousal Continuation” subsection below for more information.

Withdrawals. The GAWA percentage and the GAWA are determined at the time of the first withdrawal. The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the partial withdrawal. The GAWA percentage varies according to age group and is determined based on the Owner's attained age at the time of the first withdrawal. If there are joint Owners, the GAWA percentage is based on the attained age of the oldest joint Owner. (In the examples in Appendix B and elsewhere in this prospectus we refer to this varying GAWA percentage structure as the “varying benefit percentage”.) The GAWA percentage for each age group is:



Ages	GAWA Percentage
0 – 74	7%
75 – 79	8%
80 – 84	9%
85+	10%

Withdrawals cause the GWB to be recalculated. Withdrawals may also cause the GAWA to be recalculated, depending on whether or not the withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA). The tables below clarify what happens in either instance. RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only. (There is no RMD for non-qualified Contracts.)

For certain tax-qualified Contracts, this GMWB allows withdrawals greater than GAWA to meet the Contract's RMD without compromising the endorsement's guarantees. Examples 4, 5 and 7 in Appendix B supplement this description. Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, then please see “RMD NOTES” below for more information.



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the withdrawal less the withdrawal; Or
		●	Zero.
	The GAWA is recalculated, equaling the lesser of:
		●	The GAWA before the withdrawal; Or
		●	The GWB after the withdrawal.

You may withdraw the greater of the GAWA or RMD, as applicable, all at once or throughout the Contract Year. Withdrawing less than the greater of the GAWA or RMD, as applicable, in a Contract Year does not entitle you to withdraw more than the greater of the

GAWA or RMD, as applicable, in the next Contract Year. The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.

Withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 5 in Appendix B). In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount. The GAWA is also likely to be reduced. Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit and may lead to its premature termination.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the lesser of:
		●	Contract Value after the withdrawal; Or
		●	The greater of the GWB before the withdrawal less the withdrawal, or zero.
	The GAWA is recalculated, equaling the lesser of:
		●	The GAWA before the withdrawal; Or
		●	The GWB after the withdrawal; Or
		●	The GAWA percentage multiplied by the Contract Value after the withdrawal.

Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any charges and adjustments. Any withdrawals from Contract Value allocated to a Guaranteed Fixed Account option may be subject to an interest rate adjustment.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract's death benefit). All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts and withdrawals of asset allocation and advisory fees. They are subject to the same restrictions and processing rules as described in the Contract. They are also treated the same for federal income tax purposes. For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 129.

RMD NOTES: Notice of an RMD is required at the time of your withdrawal request, and there is an administrative form for such notice. The administrative form allows for one time or systematic withdrawals. Eligible withdrawals that are specified as RMDs may only be taken based on the value of the Contract to which the endorsement applies, even where the Internal Revenue Code allows for the taking of RMDs for multiple contracts from a single contract. You, as Owner, are responsible for complying with the Internal Revenue Code's RMD requirements. If your requested RMD exceeds our calculation of the RMD for your contract, your request will not be eligible for the waiver of any applicable charges and we will impose those charges, which will be reflected in the confirmation of the transaction. For information regarding the RMD calculation for your Contract, please contact our Jackson of NY Service Center. Our contact information is on the cover page of this prospectus.

Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis. But with this GMWB, the GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the endorsement's guarantees may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Examples that are relevant or specific to tax-qualified Contracts, illustrating this GMWB, in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix B, particularly examples 4, 5, and 7. Please consult the representative who is helping, or who helped, you purchase your tax-qualified Contract, and your tax adviser, to be sure that this GMWB ultimately suits your needs relative to your RMD.

Premiums.



With each subsequent premium payment on the Contract –	The GWB is recalculated, increasing by the amount of the premium net of any applicable premium taxes.
	If the premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
		●	The GAWA percentage multiplied by the subsequent premium payment net of any applicable premium taxes; Or
		●	The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.

We require prior approval for a subsequent premium payment that would result in your Contract having $1 million of premiums in the aggregate. We also reserve the right to refuse subsequent premium payments. The GWB can never be more than $5 million. See Example 3b in Appendix B to see how the GWB is recalculated when the $5 million maximum is hit.

Step-Up. In the event Contract Value is greater than the GWB, this GMWB allows the GWB to be reset to the Contract Value (a “Step-Up”). Upon election of a Step-Up, the GMWB charge may be increased, subject to the maximum charges listed above.



With a Step-Up –	The GWB equals Contract Value (subject to a $5 million maximum).
	If the Step-Up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
		●	The GAWA percentage multiplied by the new GWB, Or
		●	The GAWA prior to Step-Up.

The first opportunity for a Step-Up is the fifth Contract Anniversary after this GMWB is added to the Contract. Thereafter, a Step-Up is allowed at any time, but there must always be at least five years between Step-Ups. The GWB can never be more than $5 million with a Step-Up. A request for Step-Up is processed and effective on the date received in Good Order. Please consult the representative who helped you purchase your Contract to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of a Step-Up, the applicable GMWB charge will be reflected in your confirmation.

Owner's Death. The Contract's death benefit is not affected by this GMWB so long as Contract Value is greater than zero and the Contract is still in the accumulation phase. Upon your death (or the first Owner's death with joint Owners) while the Contract is still in force, this GMWB terminates without value.

Contract Value Is Zero. If your Contract Value is reduced to zero as the result of a partial withdrawal, contract charges or poor fund performance and the GWB is greater than zero, the GWB will be paid to you on a periodic basis elected by you, which will be no less frequently than annually, so long as the Contract is still in the accumulation phase. The total annual payment will equal the GAWA, but will not exceed the current GWB. If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner's (or oldest joint Owner's) attained age at the time the Contract Value is reduced to zero and the GAWA will be equal to the GAWA percentage multiplied by the GWB.



After each payment when the Contract Value is zero –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the payment less the payment; Or
		●	Zero.
	The GAWA is recalculated, equaling the lesser of:
		●	The GAWA before the payment; Or
		●	The GWB after the payment.

Spousal Continuation. If the Contract is continued by the spouse, the spouse retains all rights previously held by the Owner and therefore may elect to add this GMWB to the Contract within the 30 days prior to any Contract Anniversary following the continuation date of the original Contract's Issue Date. This GMWB would become effective on the Contract Anniversary following receipt of the request in Good Order.

If the spouse continues the Contract and this endorsement already applies to the Contract, the GMWB will continue and no adjustment will be made to the GWB or the GAWA at the time of continuation. If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner's (or oldest joint Owner's) attained age on the continuation date and the GAWA will be equal to the GAWA percentage multiplied by the GWB. Your spouse may elect to Step-Up on the continuation date. If the Contract is continued under the Special Spousal Continuation Option, the value applicable upon Step-Up is the Contract Value, including any adjustments applied on the continuation date. Any subsequent Step-Up must follow the Step-Up restrictions listed above (Contract Anniversaries will continue to be based on the anniversary of the original Contract's Issue Date).

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 128.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge and all benefits cease on the earliest of:


•	The Income Date;


•	The date of complete withdrawal of Contract Value (full surrender of the Contract);

In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.


•	The date of the Owner's death (or the first Owner's death with joint Owners), unless the Beneficiary who is the Owner's spouse elects to continue the Contract with the GMWB;


•	The first date both the GWB and the Contract Value equals zero; or


•	The date all obligations under this GMWB are satisfied after the Contract has been terminated.

Annuitization.

On the Latest Income Date, the Owner may choose the following income option instead of one of the other income options listed in the Contract:

If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the Owner's (or oldest joint Owner's) attained age at the time of election of this option and the GAWA will be equal to the GAWA percentage multiplied by the GWB. The GAWA percentage will not change after election of this option.

Effect of GMWB on Tax Deferral. This GMWB may not be appropriate for Owners who have as a primary objective taking maximum advantage of the tax deferral that is available to them under an annuity contract to accumulate assets. Please consult your tax and financial advisors before adding this GMWB to a Contract.

5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 5”). The following description is supplemented by the examples in Appendix B that may assist you in understanding how calculations are made in certain circumstances.

PLEASE NOTE: EFFECTIVE MAY 1, 2011, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

For Owners 80 years old and younger on the Contract's Issue Date, or on the date on which this endorsement is selected if after the Contract's Issue Date, a 5% GMWB With Annual Step-Up may be available, which permits an Owner to make partial withdrawals, prior to the Income Date that, in total, are guaranteed to equal the Guaranteed Withdrawal Balance (GWB)(as defined below), regardless of your Contract Value. The 5% GMWB With Annual Step-Up is not available on a Contract that already has a GMWB (one GMWB only per Contract). We may further limit the availability of this optional endorsement. Once selected, the 5% GMWB With Annual Step-Up cannot be canceled. If you select the 5% GMWB With Annual Step-Up when you purchase your Contract, your premium payment net of any applicable taxes will be used as the basis for determining the GWB. The 5% GMWB With Annual Step-Up may also be selected after the Issue Date within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if your request is in Good Order. If you select the 5% GMWB With Annual Step-Up after the Issue Date, to determine the GWB, we will use your Contract Value on the date the endorsement is added. The GWB can never be more than $5 million (including upon “Step-Up”), and the GWB is reduced with each withdrawal you take.

Once the GWB has been determined, we calculate the Guaranteed Annual Withdrawal Amount (GAWA), which is the maximum annual partial withdrawal amount, except for certain tax-qualified Contracts (as explained below). Upon selection, the GAWA is equal to 5% of the GWB. The GAWA will not be reduced if partial withdrawals taken within any one Contract Year do not exceed 5%. However, withdrawals are not cumulative. If you do not take 5% in one Contract Year, you may not take more than 5% the next Contract Year. If you withdraw more than 5%, the guaranteed amount available may be less than the total premium payments and the

GAWA will likely be reduced. The GAWA can be divided up and taken on a payment schedule that you request. You can continue to take the GAWA each Contract Year until the GWB has been depleted.

Interest rate adjustments, as applicable, are taken into consideration in calculating the amount of your partial withdrawals pursuant to the 5% GMWB With Annual Step-Up.

Any time a subsequent premium payment is made, we recalculate the GWB and the GAWA. Each time you make a premium payment, the GWB is increased by the amount of the net premium payment. Also, the GAWA will increase by 5% of the net premium payment or 5% of the increase in the GWB, if the maximum GWB is reached. We require prior approval for a subsequent premium payment, however, that would result in your Contract having $1 million of premiums in the aggregate. We also reserve the right to refuse subsequent premium payments. See Example 3b in Appendix B to see how the GWB is recalculated when the $5 million maximum is reached.

If the total of your partial withdrawals made in the current Contract Year is greater than the GAWA, we will recalculate your GWB and your GAWA will likely be lower in the future. In other words, withdrawing more than the GAWA in any Contract Year could cause the GWB to be reduced by more than the amount of the withdrawal(s), likely reducing the GAWA, too. Recalculation of the GWB and GAWA may result in reducing or extending the payout period. Examples 4, 5, and 7 in Appendix B illustrate the impact of such withdrawals.

For certain tax-qualified Contracts, this GMWB allows for withdrawals greater than GAWA to meet the Contract's required minimum distributions (RMDs) under the Internal Revenue Code (Code) without compromising the endorsement's guarantees. Examples 4, 5, and 7 in Appendix B supplement this description. Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, then please see “Required Minimum Distribution Calculations” below for more information.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is less than or equal to the GAWA or RMD, as applicable, the GWB is equal to the greater of:


•	the GWB prior to the partial withdrawal less the partial withdrawal; or


•	zero.

If all your partial withdrawals made in the current Contract Year are less than or equal to the GAWA or RMD, as applicable, the GAWA is the lesser of:


•	the GAWA prior to the partial withdrawal; or


•	the GWB after the partial withdrawal.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA or RMD, as applicable, and this endorsement was added to your Contract on or after March 31, 2008, the GWB is equal to the greater of:


•	the GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; or


•	zero.


•	the GAWA prior to the partial withdrawal reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal, or


•	the GWB after the partial withdrawal.

The Excess Withdrawal is defined to be the lesser of:


•	the total amount of the current partial withdrawal, or


•	the amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA or RMD, as applicable, and this endorsement was added to your Contract before March 31, 2008, the GWB is equal to the lesser of:


•	the Contract Value after the partial withdrawal; or


•	the greater of the GWB prior to the partial withdrawal less the partial withdrawal or zero.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA or RMD, as applicable, and this endorsement was added to your Contract before March 31, 2008, the GAWA is equal to the lesser of:


•	the GAWA prior to the partial withdrawal, or


•	the GWB after the partial withdrawal, or


•	5% of the Contract Value after the partial withdrawal.

Consistent with the explanation above, withdrawals greater than the GAWA or RMD, as applicable, may have a significantly negative impact on the value of this benefit through prematurely reducing the GWB and GAWA and, therefore, cause the benefit to prematurely terminate (see Example 5 in Appendix B). For purposes of all of these calculations, all partial withdrawals are assumed to be the total amount withdrawn, including any interest rate adjustments.

Withdrawals made under the guarantee of this endorsement are considered to be the same as any other partial withdrawals, including systematic withdrawals, for the purposes of calculating any other values under the Contract and any other endorsements. They are subject to the same restrictions and processing rules as described in the Contract. Withdrawals under the guarantee of this endorsement are also treated the same for federal income tax purposes. For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 129.

Under the Code, RMDs are calculated and taken on a calendar year basis. But with the 5% GMWB With Annual Step-Up, GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the endorsement's guarantees may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of either of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Examples that are relevant specific to tax-qualified Contracts, illustrating the GMWB in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix B, particularly examples 4, 5, and 7. Please consult the representative who helped you purchase your tax-qualified Contract, and your tax adviser, to be sure that the 5% GMWB With Annual Step-Up ultimately suits your needs relative to your RMD.

Step-Up. Step-Ups with the 5% GMWB With Annual Step-Up reset your GWB to the greater of Contract Value or the GWB before Step-Up, and GAWA becomes the greater of 5% of the new GWB or GAWA before Step-Up. Step-Ups occur automatically upon each of the first 12 Contract Anniversaries from the endorsement's effective date, then on or after the 13^th Contract Anniversary, at any time upon your request, so long as there is at least one year between Step-Ups. Upon election of a Step-Up, the GMWB charge may be increased, subject to the maximum charges listed above. In addition, the GWB can never be more than $5 million with a Step-Up. The request will be processed and effective on the day we receive the request in Good Order. Before deciding to “Step-Up,” please consult the representative who helped you purchase your Contract to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of a Step-Up, the applicable GMWB charge will be reflected in your confirmation.

Spousal Continuation. If you die before annuitizing a Contract with the 5% GMWB With Annual Step-Up, the Contract's death benefit is still payable when Contract Value is greater than zero. Alternatively, the Contract allows the Beneficiary who is your spouse to continue it, retaining all rights previously held by the Owner. If the spouse continues the Contract and the 5% GMWB With Annual Step-Up endorsement already applies to the Contract, the 5% GMWB With Annual Step-Up will continue and no adjustment will be made to the GWB or the GAWA at the time of continuation. Step-Ups will continue automatically or as permitted (as described above), and Contract Anniversaries will continue to be based on the anniversary of the Contract's Issue Date. Upon spousal continuation of a Contract without the 5% GMWB With Annual Step-Up, if the 5% GMWB With Annual Step-Up is available at the time, the Beneficiary may request to add this endorsement within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if the request is made in Good Order.

Termination. The 5% GMWB With Annual Step-Up endorsement terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge on the date you annuitize or surrender the Contract. In surrendering the Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under the 5% GMWB With Annual Step-Up. The 5% GMWB With Annual Step-Up also terminates: with the Contract upon your death (unless the beneficiary who is your spouse continues the Contract); upon the first date both the GWB and Contract Value equal zero; or upon conversion, if permitted – whichever occurs first.

Annuitization. If you decide to annuitize your Contract, you may choose the following income option instead of one of the other income options listed in your Contract:

Effect of GMWB on Tax Deferral. The purchase of the 5% GMWB With Annual Step-Up may not be appropriate for the Owners of Contracts who have as a primary objective taking maximum advantage of the tax deferral that is available to them under an annuity contract to accumulate assets. Please consult your tax and financial advisors on this and other matters prior to electing the 5% GMWB With Annual Step-Up.

6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 6”). The following description is supplemented by the examples in Appendix B that may assist you in understanding how calculations are made in certain circumstances.

PLEASE NOTE: EFFECTIVE MAY 1, 2011, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

For Owners 80 years old and younger on the Contract's Issue Date, or on the date on which this endorsement is selected if after the Contract's Issue Date, a 6% GMWB With Annual Step-Up may be available, which permits an Owner to make partial withdrawals, prior to the Income Date that, in total, are guaranteed to equal the Guaranteed Withdrawal Balance (GWB)(as defined below), regardless of your Contract Value. The 6% GMWB With Annual Step-Up is not available on a Contract that already has a GMWB (one GMWB only per Contract). We may further limit the availability of this optional endorsement. Once selected, the 6% GMWB With Annual Step-Up cannot be canceled. If you select the 6% GMWB With Annual Step-Up when you purchase your Contract, your premium payment net of any applicable taxes will be used as the basis for determining the GWB. The 6% GMWB With Annual Step-Up may also be selected after the Issue Date within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if your request is in Good Order. If you select the 6% GMWB With Annual Step-Up after the Issue Date, to determine the GWB, we will use your Contract Value on the date the endorsement is added. The GWB can never be more than $5 million (including upon “Step-Up”), and the GWB is reduced with each withdrawal you take.

Once the GWB has been determined, we calculate the Guaranteed Annual Withdrawal Amount (GAWA), which is the maximum annual partial withdrawal amount, except for certain tax-qualified Contracts (as explained below). Upon selection, the GAWA is equal to 6% of the GWB. The GAWA will not be reduced if partial withdrawals taken within any one Contract Year do not exceed 6%. However, withdrawals are not cumulative. If you do not take 6% in one Contract Year, you may not take more than 6% the next Contract Year. If you withdraw more than 6%, the guaranteed amount available may be less than the total premium payments and the GAWA will likely be reduced. The GAWA can be divided up and taken on a payment schedule that you request. You can continue to take the GAWA each Contract Year until the GWB has been depleted.

Interest rate adjustments, as applicable, are taken into consideration in calculating the amount of your partial withdrawals pursuant to the 6% GMWB With Annual Step-Up.

Any time a subsequent premium payment is made, we recalculate the GWB and the GAWA. Each time you make a premium payment, the GWB is increased by the amount of the net premium payment. Also, the GAWA will increase by 6% of the net premium payment or 6% of the increase in the GWB, if the maximum GWB is reached. We require prior approval for a subsequent premium payment, however, that would result in your Contract having $1 million of premiums in the aggregate. We also reserve the right to refuse subsequent premium payments. See Example 3b in Appendix B to see how the GWB is recalculated when the $5 million maximum is reached.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is less than or equal to the GAWA or RMD, as applicable, the GWB is equal to the greater of:


•	the GWB prior to the partial withdrawal less the partial withdrawal; or


•	zero.

If all your partial withdrawals made in the current Contract Year are less than or equal to the GAWA or RMD, as applicable, the GAWA is the lesser of:


•	the GAWA prior to the partial withdrawal; or


•	the GWB after the partial withdrawal.


•	the GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; or


•	zero


•	the GAWA prior to the partial withdrawal reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal, or


•	the GWB after the partial withdrawal.

The Excess Withdrawal is defined to be the lesser of:


•	the total amount of the current partial withdrawal, or


•	the amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA or RMD, as applicable, and this endorsement was added to your Contract before March 31, 2008, the GWB is equal to the lesser of:


•	the Contract Value after the partial withdrawal; or


•	the greater of the GWB prior to the partial withdrawal less the partial withdrawal or zero

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA or RMD, as applicable, and this endorsement was added to your Contract before March 31, 2008, the GAWA is equal to the lesser of:


•	the GAWA prior to the partial withdrawal, or


•	the GWB after the partial withdrawal, or


•	6% of the Contract Value after the partial withdrawal.

Under the Code, RMDs are calculated and taken on a calendar year basis. But with the 6% GMWB With Annual Step-Up, GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the endorsement's guarantees may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of either of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Examples that are relevant specific to tax-qualified Contracts, illustrating the GMWB in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix B, particularly examples 4, 5, and 7. Please consult the representative who helped you purchase your tax-qualified Contract, and your tax adviser, to be sure that the 6% GMWB With Annual Step-Up ultimately suits your needs relative to your RMD.

Step-Up. Step-Ups with the 6% GMWB With Annual Step-Up reset your GWB to the greater of Contract Value or the GWB before Step-Up, and GAWA becomes the greater of 6% of the new GWB or GAWA before Step-Up. Step-Ups occur automatically upon each of the first 12 Contract Anniversaries from the endorsement's effective date, then on or after the 13^th Contract Anniversary, at any time upon your request, so long as there is at least one year between Step-Ups. Upon election of a Step-Up, the GMWB charge may be increased, subject to the maximum charges listed above. In addition, the GWB can never be more than $5 million with a Step-Up. The request will be processed and effective on the day we receive the request in Good Order. Before deciding to “Step-Up,” please consult the representative who helped you purchase your Contract to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of a Step-Up, the applicable GMWB charge will be reflected in your confirmation.

Spousal Continuation. If you die before annuitizing a Contract with the 6% GMWB With Annual Step-Up, the Contract's death benefit is still payable when Contract Value is greater than zero. Alternatively, the Contract allows the Beneficiary who is your spouse

to continue it, retaining all rights previously held by the Owner. If the spouse continues the Contract and the 6% GMWB With Annual Step-Up endorsement already applies to the Contract, the 6% GMWB With Annual Step-Up will continue and no adjustment will be made to the GWB or the GAWA at the time of continuation. Step-Ups will continue automatically or as permitted (as described above), and Contract Anniversaries will continue to be based on the anniversary of the original Contract's Issue Date. Upon spousal continuation of a Contract without the 6% GMWB With Annual Step-Up, if the 6% GMWB With Annual Step-Up is available at the time, the Beneficiary may request to add this endorsement within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if the request is made in Good Order.

Termination. The 6% GMWB With Annual Step-Up endorsement terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge on the date you annuitize or surrender the Contract. In surrendering the Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under the 6% GMWB With Annual Step-Up. The 6% GMWB With Annual Step-Up also terminates: with the Contract upon your death (unless the beneficiary who is your spouse continues the Contract); upon the first date both the GWB and Contract Value equal zero; or upon conversion, if permitted – whichever occurs first.

Contract Value Is Zero. If your Contract Value is reduced to zero as the result of a partial withdrawal, contract charges or poor fund performance and the GWB is greater than zero, the GWB will be paid automatically to you on a periodic basis elected by you, which will be no less frequently than annually, so long as the Contract is still in the accumulation phase. The total annual payment will equal the GAWA, but will not exceed the current GWB. The payments continue until the GWB is reduced to zero.

Annuitization. If you decide to annuitize your Contract, you may choose the following income option instead of one of the other income options listed in your Contract:

Effect of GMWB on Tax Deferral. The purchase of the 6% GMWB With Annual Step-Up may not be appropriate for the Owners of Contracts who have as a primary objective taking maximum advantage of the tax deferral that is available to them under an annuity contract to accumulate assets. Please consult your tax and financial advisors on this and other matters prior to electing the 6% GMWB With Annual Step-Up.

5% Guaranteed Minimum Withdrawal Benefit Without Step-Up (“MarketGuard 5”). The following description is supplemented by some examples in Appendix B that may assist you in understanding how calculations are made in certain circumstances.

PLEASE NOTE: EFFECTIVE OCTOBER 6, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

For Owners 80 years old and younger on the Contract's Issue Date, or on the date on which this endorsement is selected if after the Contract's Issue Date, a 5% GMWB without Step-Up may be available, which permits an Owner to make partial withdrawals, prior to the Income Date that, in total, are guaranteed to equal the Guaranteed Withdrawal Balance (GWB)(as defined below), regardless of

your Contract Value. The 5% GMWB without Step-Up is not available on a Contract that already has a GMWB (one GMWB only per Contract). We may further limit the availability of this optional endorsement. Once selected, the 5% GMWB without Step-Up cannot be canceled. If you select the 5% GMWB without Step-Up when you purchase your Contract, your premium payment net of any applicable taxes will be used as the basis for determining the GWB. The 5% GMWB without Step-Up may be selected after the Issue Date within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if your request is in Good Order. If you select the 5% GMWB without Step-Up after the Issue Date, to determine the GWB, we will use your Contract Value on the date the endorsement is added. The GWB can never be more than $5 million, and the GWB is reduced with each withdrawal you take.

Once the GWB has been determined, we calculate the Guaranteed Annual Withdrawal Amount (GAWA), which is the maximum annual partial withdrawal amount, except for certain tax-qualified Contracts (see below). Upon selection, the GAWA is equal to 5% of the GWB. The GAWA will not be reduced if partial withdrawals taken within any one Contract Year do not exceed 5%. However, withdrawals are not cumulative. If you do not take 5% in one Contract Year, you may not take more than 5% the next Contract Year. If you withdraw more than 5%, the guaranteed amount available may be less than the total premium payments and the GAWA may be reduced. The GAWA can be divided up and taken on a payment schedule that you request. You can continue to take the GAWA each Contract Year until the GWB has been depleted.

Interest rate adjustments, as applicable, are taken into consideration in calculating the amount of your partial withdrawals pursuant to the 5% GMWB without Step-Up.

Any time a subsequent premium payment is made, we recalculate the GWB and the GAWA. Each time you make a premium payment, the GWB is increased by the amount of the net premium payment. Also, the GAWA will increase by 5% of the net premium payment or 5% of the increase in the GWB, if the maximum GWB is reached. We require prior approval for a subsequent premium payment, however, that would result in your Contract having $1 million of premiums in the aggregate. We also reserve the right to refuse subsequent premium payments. See Example 3b in Appendix B to see how the GWB is recalculated when the $5 million maximum is reached.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is less than or equal to the GAWA, the GWB is equal to the greater of:


•	the GWB prior to the partial withdrawal less the partial withdrawal; or


•	zero.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA, the GWB is equal to the lesser of:


•	the Contract Value after the partial withdrawal; or


•	the greater of the GWB prior to the partial withdrawal less the partial withdrawal or zero.

If all your partial withdrawals made in the current Contract Year are less than or equal to the GAWA, the GAWA is the lesser of:


•	the GAWA prior to the partial withdrawal; or


•	the GWB after the partial withdrawal.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is greater than the GAWA, the GAWA is equal to the lesser of:


•	the GAWA prior to the partial withdrawal; or


•	the GWB after the partial withdrawal; or


•	5% of the Contract Value after the partial withdrawal.

benefit to prematurely terminate (see Example 5 in Appendix B). For purposes of these calculations, all partial withdrawals are assumed to be the total amount withdrawn, including any interest rate adjustments.

For certain tax-qualified Contracts, the 5% GMWB without Step-Up allows for withdrawals greater than GAWA to meet the RMD under the Internal Revenue Code (Code) without compromising the endorsement's guarantees. Examples 4, 5 and 7 in Appendix B supplement this description.

Under the Code, RMDs are calculated and taken on a calendar year basis. But with the 5% GMWB Without Step-Up, GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the endorsement's guarantees may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of either of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Examples that are relevant specific to tax-qualified Contracts, illustrating the GMWB in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix B, particularly examples 4, 5, and 7. Please consult the representative who helped you purchase your tax-qualified Contract, and your tax adviser, to be sure that the 5% GMWB Without Step-Up ultimately suits your needs relative to your RMD.

Spousal Continuation. If you die before annuitizing a Contract with the 5% GMWB without Step-Up, the Contract's death benefit is still payable when Contract Value is greater than zero. Alternatively, the Contract allows the Beneficiary who is your spouse to continue it, retaining all rights previously held by the Owner. If the spouse continues the Contract and the 5% GMWB without Step-Up endorsement already applies to the Contract, the 5% GMWB without Step-Up will continue and no adjustment will be made to the GWB or the GAWA at the time of continuation. Contract Anniversaries will continue to be based on the anniversary of the original Contract's Issue Date. Upon spousal continuation of a Contract without the 5% GMWB without Step-Up, if the 5% GMWB without Step-Up is available at the time, the Beneficiary may request to add this endorsement within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if the request is made in Good Order.

Termination. The 5% GMWB without Step-Up endorsement terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge on the date you annuitize or surrender the Contract. In surrendering the Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under the 5% GMWB without Step-Up. The 5% GMWB Without Step-Up also terminates: with the Contract upon your death (unless the beneficiary who is your spouse continues the Contract); upon the first date both the GWB and Contract Value equal zero; or upon conversion, if permitted – whichever occurs first.

Annuitization. If you decide to annuitize your Contract, you may choose the following income option instead of one of the other income options listed in your Contract:

Effect of GMWB on Tax Deferral. The purchase of the 5% GMWB without Step-Up may not be appropriate for the Owners of Contracts who have as a primary objective taking maximum advantage of the tax deferral that is available to them under an annuity contract to accumulate assets. Please consult your tax and financial advisors on this and other matters prior to electing the 5% GMWB without Step-Up.

5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Annual Step-Up (“LifeGuard Advantage”). The following description of this GMWB is supplemented by the examples in Appendix B, particularly examples 6 and 7 for the Step-Ups, example 8 for the bonus and example 9 for the For Life guarantees.

PLEASE NOTE: EFFECTIVE MARCH 31, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

This GMWB guarantees partial withdrawals during the Contract's accumulation phase (i.e., before the Income Date) for the longer of:


•	The Owner's life (the “For Life Guarantee”) if the For Life Guarantee is in effect;

The For Life Guarantee is based on the life of the first Owner to die with joint Owners. For the Owner that is a legal entity, the For Life Guarantee is based on the Annuitant's life (or the life of the first Annuitant to die if there is more than one Annuitant).

The For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the Owner's 65^th birthday (or with joint Owners, the oldest Owner's 65^th birthday). If the Owner (or oldest Owner) is 65 years old or older on the endorsement's effective date, then the For Life Guarantee is effective when this GMWB is added to the Contract.

So long as the For Life Guarantee is in effect, withdrawals are guaranteed even in the event Contract Value is reduced to zero.


•	Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.

The GWB is the guaranteed amount available for future periodic withdrawals.


•	With this GMWB, we offer a bonus on the GWB; you may be able to receive a credit to the GWB for a limited time (see box below, and the paragraph preceding it at the end of this section, for more information).

Because of the For Life Guarantee, your withdrawals could amount to more than the GWB. But PLEASE NOTE: The guarantees of this GMWB, including any bonus opportunity, are subject to the endorsement's terms, conditions, and limitations that are explained below.

Please consult the representative who helped you purchase your Contract to be sure that this GMWB ultimately suits your needs.

This GMWB is available to Owners 45 to 80 years old (proof of age is required); may be added to a Contract on the Issue Date or any Contract Anniversary; and once added cannot be canceled except by a Beneficiary who is the Owner's spouse, who, upon the Owner's death, may elect to continue the Contract without the GMWB. At least 30 calendar days' prior notice and proof of age is required for Good Order to add this GMWB to a Contract on a Contract Anniversary. This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract). We allow ownership changes of a Contract with this GMWB (i) from an Owner that is a natural person to a trust, if that individual and Annuitant are the same person or (ii) when the Owner is a legal entity , to another legal entity or the Annuitant , provided these changes are not taxable events under the Code . In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. Otherwise, ownership changes are not allowed. Also, when the Owner is a legal entity, charges will be determined based on the age of the Annuitant and changing Annuitants is not allowed. Availability of this GMWB may be subject to further limitation.

Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.



When this GMWB is added to the Contract on the Issue Date –	The GWB equals initial premium net of any applicable premium taxes.
	The GAWA equals 5% of the GWB.



When this GMWB is added to the Contract on any Contract Anniversary –	The GWB equals Contract Value.
	The GAWA equals 5% of the GWB.

PLEASE NOTE: At the time the For Life Guarantee becomes effective, the GAWA is reset to equal 5% of the then current GWB.

Premium net of any applicable premium taxes is used to calculate the GWB when this GMWB is added to the Contract on the Issue Date. If you were to instead add this GMWB to your Contract post issue on any Contract Anniversary, the GWB is calculated based on Contract Value on that date. The GWB can never be more than $5 million (including upon Step-Up), and the GWB is reduced by each withdrawal.

Withdrawals. Withdrawals may cause both the GWB and GAWA to be recalculated, depending on whether or not the withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA). The two tables below clarify what happens in either instance. (RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only. There is no RMD for non-qualified Contracts.) In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee. See “Contract Value is Zero” below for more information.

For certain tax-qualified Contracts, this GMWB allows withdrawals greater than GAWA to meet the Contract's RMDs without compromising the endorsement's guarantees. Examples 4, 5 and 7 in Appendix B supplement this description. Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, then please see “RMD NOTES” below for more information.



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the withdrawal less the withdrawal; Or
		●	Zero.
	The GAWA:
		●	Is unchanged while the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before the withdrawal, or the GWB after the withdrawal.

The GAWA is not reduced if all withdrawals during any one Contract Year do not exceed the greater of the GAWA or RMD, as applicable. You may withdraw the greater of the GAWA or RMD, as applicable, all at once or throughout the Contract Year. Withdrawing less than the greater of the GAWA or RMD, as applicable, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, as applicable, in the next Contract Year. The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.

Withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and in Example 5 in Appendix B). In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount – even set equal to the Contract Value. The GAWA is also likely to be reduced. Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the lesser of:
		●	Contract Value after the withdrawal; Or
		●	The greater of the GWB before the withdrawal, or zero.
	The GAWA is recalculated, equaling the lesser of:
		●	5% of the Contract Value after the withdrawal; Or
		●	The greater of 5% of the GWB after the withdrawal, or zero.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements. All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts and withdrawals of asset allocation and advisory fees. They are subject to the same restrictions and processing rules as described in the Contract. They are also treated the same for federal income tax purposes. For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 129.

Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis. But with this GMWB, the GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the For Life Guarantee may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Examples that are relevant specific to tax-qualified Contracts, illustrating this GMWB, in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix B, particularly examples 4, 5, and 7. Please consult the representative who is helping, or who helped, you purchase your tax-qualified Contract, and your tax adviser, to be sure that this GMWB ultimately suits your needs relative to your RMD.

Premiums.



With each subsequent premium payment on the Contract –	The GWB is recalculated, increasing by the amount of the premium net of any applicable premium taxes.
	The GAWA is also recalculated, increasing by:
		●	5% of the premium net of any applicable premium taxes; Or
		●	5% of the increase in the GWB – if the maximum GWB is hit.



With a Step-Up –	The GWB equals Contract Value.
	The GAWA is recalculated, equaling the greater of:
		●	5% of the new GWB; Or
		●	The GAWA before the Step-Up.

Step-Ups occur automatically upon each of the first ten Contract Anniversaries from the endorsement's effective date. Thereafter, a Step-Up is allowed at any time upon your request, so long as there is at least one year between Step-Ups. The GWB can never be more than $5 million with a Step-Up. A request for Step-Up is processed and effective on the date received in Good Order. Please consult the representative who helped you purchase your Contract to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of a Step-Up, the applicable GMWB charge will be reflected in your confirmation.

Contract Value Is Zero. With this GMWB, in the event Contract Value is zero, the GAWA is unchanged and payable so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase. Otherwise, payments will be made while there is value to the GWB (until depleted), so long as the Contract is still in the accumulation phase. Payments are made on the periodic basis you elect, but no less frequently than annually.



After each payment when the Contract Value is zero –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the payment less the payment; Or
		●	Zero.
	The GAWA:
		●	Is unchanged so long as the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before, or the GWB after, the payment.

If you die before all scheduled payments are made, then your Beneficiary will receive the remainder. All other rights under your Contract cease, except for the right to change Beneficiaries. No subsequent premium payments will be accepted. All optional endorsements terminate without value. And no other death benefit is payable.

Spousal Continuation. In the event of the Owner's death (or the first Owner's death with joint Owners), the Beneficiary who is the Owner's spouse may elect to:


•	Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase. (The date the spousal Beneficiary's election to continue the Contract is in Good Order is called the Continuation Date.)


◦	Upon the Owner's death, the For Life Guarantee is void.


◦	Only the GWB is payable while there is value to it (until depleted).


◦	Step-Ups will continue automatically or as permitted; otherwise, the above rules for Step-Ups apply.


◦	Contract Anniversaries will continue to be based on the Contract's Issue Date.


•	Continue the Contract without this GMWB (GMWB is terminated).


•	Add this GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the Beneficiary's eligibility – whether or not the spousal Beneficiary terminated the GMWB in continuing the Contract.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 128.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge and all benefits cease on the earliest of:


•	The Income Date;


•	The date of complete withdrawal of Contract Value (full surrender of the Contract);


•	Conversion of this GMWB (if conversion is permitted);


•	The date of the Owner's death (or the first Owner's death with joint Owners), unless the Beneficiary who is the Owner's spouse elects to continue the Contract with the GMWB;


•	The Continuation Date if the spousal Beneficiary elects to continue the Contract without the GMWB; or


•	The date all obligations under this GMWB are satisfied after the Contract Value is zero.

Annuitization.

Life Income of GAWA. On the Latest Income Date if the For Life Guarantee is in effect, the Owner may choose this income option instead of one of the other income options listed in the Contract. This income option provides payments in a fixed dollar amount for the lifetime of the Owner (or, with joint Owners, the lifetime of joint Owner who dies first). The total annual amount payable will equal the GAWA in effect at the time of election of this option. This annualized amount will be paid in the frequency (no less frequently than annually) that the Owner selects. No further annuity payments are payable after the death of the Owner (or the first Owner's death with joint Owners), and there is no provision for a death benefit payable to the Beneficiary. Therefore, it is possible for only one annuity payment to be made under this Income Option if the Owner dies before the due date of the second payment.

Specified Period Income of the GAWA. On the Latest Income Date if the For Life Guarantee is not in effect, the Owner may choose this income option instead of one of the other income options listed in the Contract. (This income option only applies if the GMWB has been continued by the spousal Beneficiary upon the death of the original Owner, in which case the spouse becomes the Owner of the Contract and the Latest Income Date is based on the age of the spouse.)

of years in the frequency (no less frequently than annually) that the Owner selects. If the Owner should die before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.

The “Specified Period Income of the GAWA” income option may not be available if the Contract is issued to qualify under Sections 401, 403, 408 or 457 of the Internal Revenue Code. For such Contracts, this income option will only be available if the guaranteed period is less than the life expectancy of the spouse at the time the option becomes effective.

Bonus. The description of the bonus feature is supplemented by the examples in Appendix B, particularly example 8. The bonus is an incentive for you not to utilize this GMWB (take withdrawals) during a limited period of time, subject to conditions and limitations, allowing the GWB and GAWA to increase (even in a down market relative to your Contract Value allocated to any Investment Divisions). The increase, however, may not equal the amount that your Contract Value has declined. The bonus is a percentage of a sum called the Bonus Base (defined below). The box below has more information about the bonus, including:


•	How the bonus is calculated;


•	What happens to the Bonus Base (and bonus) with a withdrawal, premium payment, and any Step-Up;


•	For how long the bonus is available; and


•	When and what happens when the bonus is applied to the GWB.



The bonus equals 6% (5% if this GMWB is added to the Contract prior to June 4, 2007) and is based on a sum that may vary after this GMWB is added to the Contract (the “Bonus Base”), as described immediately below.
	●	When this GMWB is added to the Contract, the Bonus Base equals the GWB.
	●	With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA and the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal. Otherwise, there is no adjustment to the Bonus Base with withdrawals.
			○	All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; and withdrawals of asset allocation and advisory fees.
			○	A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
	●	With a premium payment, the Bonus Base increases by the amount of the premium net of any applicable premium taxes.
	●	With any Step-Up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the Step-Up.
The Bonus Base can never be more than $5 million.
The Bonus is available for a limited time (the “Bonus Period”). The Bonus Period runs from the date this GMWB is added to the Contract through the earliest of:
	●	The tenth Contract Anniversary after the effective date of the endorsement;



	●	The Contract Anniversary on or immediately following the Owner's (if joint Owners, the oldest Owner's) 81^st birthday; or
	●	The date Contract Value is zero.
Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract's Issue Date.
The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year. Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied. When the bonus is applied:
	●	The GWB is recalculated, increasing by 6% (5% if this GMWB is added to the Contract prior to June 4, 2007) of the Bonus Base.
	●	The GAWA is then recalculated, equaling the greater of 5% of the new GWB and the GAWA before the bonus.
Applying the bonus to the GWB does not affect the Bonus Base.

For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“LifeGuard Ascent”). The following description of this GMWB is supplemented by the examples in Appendix B, particularly example 2 for the varying benefit percentage and examples 6 and 7 for the Step-Ups.

PLEASE NOTE: EFFECTIVE MARCH 31, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

This GMWB guarantees partial withdrawals during the Contract's accumulation phase (i.e., before the Income Date) for the longer of:


•	The Owner's life (the “For Life Guarantee”) if the For Life Guarantee is in effect;

The For Life Guarantee is based on the life of the first Owner to die with joint Owners. There are also other GMWB options for joint Owners that are spouses, as described below.

For the Owner that is a legal entity, the For Life Guarantee is based on the Annuitant's life (or the life of the first Annuitant to die if there is more than one Annuitant).

The For Life Guarantee becomes effective when this GMWB is added to the Contract.

So long as the For Life Guarantee is in effect, withdrawals are guaranteed even in the event Contract Value is reduced to zero.


•	Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.

The GWB is the guaranteed amount available for future periodic withdrawals.

Because of the For Life Guarantee, your withdrawals could amount to more than the GWB. But PLEASE NOTE: The guarantees of this GMWB are subject to the endorsement's terms, conditions, and limitations that are explained below.

Please consult the representative who helped you purchase your Contract to be sure that this GMWB ultimately suits your needs.

This GMWB is available to Owners 45 to 85 years old (proof of age is required); may be added to a Contract on the Issue Date or any Contract Anniversary; and once added cannot be canceled except by a Beneficiary who is the Owner's spouse, who, upon the Owner's

death, may elect to continue the Contract without the GMWB. At least 30 calendar days' prior notice and proof of age is required for Good Order to add this GMWB to a Contract on a Contract Anniversary. This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract). We allow ownership changes of a Contract with this GMWB (i) from an Owner that is a natural person to a trust, if that individual and the Annuitant are the same person or (ii) when the Owner is a legal entity , to another legal entity or the Annuitant , provided these changes are not taxable events under the Code . In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. Otherwise, ownership changes are not allowed. When the Owner is a legal entity, changing Annuitants is not allowed. Availability of this GMWB may be subject to further limitation.

Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.



When this GMWB is added to the Contract on the Issue Date –	The GWB equals initial premium net of any applicable premium taxes.
	The GAWA is determined based on the Owner's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below. The For Life Guarantee becomes effective on the Contract Issue Date.



When this GMWB is added to the Contract on any Contract Anniversary –	The GWB equals Contract Value.
	The GAWA is determined based on the Owner's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below. The For Life Guarantee becomes effective on the Contract Anniversary on which the endorsement is added.

PLEASE NOTE: Upon the Owner's death, the For Life Guarantee is void. However, this GMWB might be continued by a spousal Beneficiary without the For Life Guarantee. Please see the “Spousal Continuation” subsection below for more information.



Ages	GAWA Percentage
45 – 59	4%
60 – 74	5%
75 – 84	6%
85+	7%

Withdrawals cause the GWB to be recalculated. Withdrawals may also cause the GAWA to be recalculated, depending on whether or not the withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA). The two tables below clarify what happens in either instance. RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only. (There is no RMD for non-qualified Contracts.)



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the withdrawal less the withdrawal; Or
		●	Zero.
	The GAWA:
		●	Is unchanged while the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before the withdrawal, or the GWB after the withdrawal.

Withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 5 in Appendix B). In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount – even set equal to the Contract Value. The GAWA is also likely to be reduced. Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the lesser of:
		●	Contract Value after the withdrawal; Or
		●	The greater of the GWB before the withdrawal less the withdrawal, or zero.
	The GAWA is recalculated, equaling the lesser of:
		●	The GAWA percentage multiplied by the Contract Value after the withdrawal; Or
		●	The GAWA percentage multiplied by the GWB after the withdrawal.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements. All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts and withdrawals of asset allocation and advisory fees. They are subject to the same restrictions and processing rules as described in the Contract. They are also treated the same for federal income tax purposes. For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 129.

recalculation will be based on the correct age. If the age at election of the Owner (or oldest joint Owner) falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.

Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis. But with this GMWB, the GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the For Life Guarantee may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Examples that are relevant specific to tax-qualified Contracts, illustrating this GMWB, in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix B, particularly examples 4, 5, and 7. Please consult the representative who helped you purchase your tax-qualified Contract, and your tax adviser, to be sure that this GMWB ultimately suits your needs relative to your RMD.

Premiums.



With each subsequent premium payment on the Contract –	The GWB is recalculated, increasing by the amount of the premium net of any applicable premium taxes.
	If the premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
		●	The GAWA percentage multiplied by the subsequent premium payment net of any applicable premium taxes; Or
		●	The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.

In addition to an increase in the GWB, a Step-Up allows for a potential increase in the GAWA percentage in the event that the Step-Up occurs after the first withdrawal. The value used to determine whether the GAWA percentage will increase upon Step-Up is called the Benefit Determination Base (BDB). The BDB equals initial premium net of any applicable premium taxes, if this GMWB is elected at issue, or the Contract Value on the Contract Anniversary on which the endorsement is added, if elected after issue. Withdrawals do not affect the BDB. Subsequent premium payments increase the BDB by the amount of the premium net of any applicable premium taxes. In addition, unlike the GWB, the BDB is not subject to any maximum amount. Therefore, it is possible for the BDB to be more than $5 million.



With a Step-Up –	The GWB equals Contract Value (subject to a $5 million maximum).
	If the Contract Value is greater than the BDB prior to the Step-Up then the BDB is set to equal the Contract Value (not subject to any maximum amount); and, if the Step-Up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the Owner.
		●	If there are joint Owners, the GAWA percentage is recalculated based on the oldest joint Owner.
		●	The GAWA percentage will not be recalculated upon Step-Ups following Spousal Continuation.
	If the Step-Up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
		●	The GAWA percentage multiplied by the new GWB, Or
		●	The GAWA prior to Step-Up.

PLEASE NOTE: Withdrawals from the Contract reduce the GWB and Contract Value but do not affect the BDB. In the event of withdrawals, the BDB remains unchanged. Therefore, because the Contract Value must be greater than the BDB prior to Step-Up in order for the GAWA percentage to increase, a GAWA percentage increase may become less likely when continuing withdrawals are made from the Contract.

Step-Ups occur automatically upon each of the first ten Contract Anniversaries from the endorsement's effective date. Thereafter, a Step-Up is allowed at any time upon your request, so long as there is at least one year between Step-Ups. The GWB can never be more than $5 million with a Step-Up. However, automatic Step-Ups still occur and elected Step-Ups are still permitted even when the GWB is at the maximum of $5 million if the Contract Value is greater than the BDB and the GAWA percentage would increase. A request for Step-Up is processed and effective on the date received in Good Order. Please consult the

representative who helped you purchase your Contract to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon election of a Step-Up, the applicable GMWB charge will be reflected in your confirmation.

Contract Value Is Zero. With this GMWB, in the event Contract Value is zero, the GAWA is unchanged and payable so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase. Otherwise, payments will be made while there is value to the GWB (until depleted), so long as the Contract is still in the accumulation phase. If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner's (or oldest joint Owner's) attained age at the time the Contract Value falls to zero.



After each payment when the Contract Value is zero –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the payment less the payment; Or
		●	Zero.
	The GAWA:
		●	Is unchanged so long as the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before, or the GWB after, the payment.

Payments are made on the periodic basis you elect, but no less frequently than annually. If you die before all scheduled payments are made, then your Beneficiary will receive the remainder. All other rights under your Contract cease, except for the right to change Beneficiaries. No subsequent premium payments will be accepted. All optional endorsements terminate without value. And no other death benefit is payable.

Spousal Continuation. In the event of the Owner's death (or the first Owner's death with joint Owners), the Beneficiary who is the Owner's spouse may elect to:


•	Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase. (The date the spousal Beneficiary's election to continue the Contract is in Good Order is called the Continuation Date.)


◦	Upon the Owner's death, the For Life Guarantee is void.


◦	Only the GWB is payable while there is value to it (until depleted).


◦	Step-Ups will continue automatically or as permitted; otherwise, the above rules for Step-Ups apply.


◦	Contract Anniversaries will continue to be based on the Contract's Issue Date.


◦	If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the Owner's (or oldest joint Owner's) attained age at the time of death. The GAWA percentage will not change on future Step-Ups, even if the Contract Value exceeds the BDB.


◦	The Latest Income Date is based on the age of the surviving spouse. Please refer to “Annuitization” subsection below for information regarding the availability of the “Specified Period Income of the GAWA” option if the GWB has been continued by a spousal Beneficiary upon the death of the original Owner.


•	Continue the Contract without this GMWB (GMWB is terminated).


•	Add this GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the Beneficiary's eligibility – whether or not the spousal Beneficiary terminated the GMWB in continuing the Contract.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 128.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge and all benefits cease on the earliest of:


•	The Income Date;


•	The date of complete withdrawal of Contract Value (full surrender of the Contract);


•	Conversion of this GMWB (if conversion is permitted);


•	The date of the Owner's death (or the first Owner's death with joint Owners), unless the Beneficiary who is the Owner's spouse elects to continue the Contract with the GMWB;


•	The Continuation Date if the spousal Beneficiary elects to continue the Contract without the GMWB; or


•	The date all obligations under this GMWB are satisfied after the Contract has been terminated.

Annuitization.

If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the Owner's (or oldest joint Owner's) attained age at the time of election of this option. The GAWA percentage will not change after election of this option.

This income option provides payments in a fixed dollar amount for a specific number of years. The actual number of years that payments will be made is determined on the calculation date by dividing the GWB by the GAWA. Upon each payment, the GWB will be reduced by the payment amount. The total annual amount payable will equal the GAWA but will never exceed the current GWB. This annualized amount will be paid over the specific number of years in the frequency (no less frequently than annually) that the Owner selects. If the Owner should die before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.

Joint For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“LifeGuard Ascent With Joint Option”). The description of this GMWB is supplemented by the examples in Appendix B, particularly example 2 for the varying benefit percentage, examples 6 and 7 for the Step-Ups and example 10 for the For Life guarantees.

PLEASE NOTE: EFFECTIVE MARCH 31, 2008, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

The election of this GMWB under a non-qualified Contract requires the joint Owners to be spouses (as defined under the Internal Revenue Code) and each joint Owner is considered to be a “Covered Life.”

In such cases, the Owners cannot be subsequently changed (except in the limited circumstances discussed below), and new Owners cannot be added. Upon death of either joint Owner, the surviving joint Owner will be treated as the primary Beneficiary and all other Beneficiaries will be treated as contingent Beneficiaries. The For Life Guarantee will not apply to these contingent Beneficiaries, as they are not Covered Lives.

This GMWB is available on a limited basis under non-qualified Contracts for certain kinds of legal entities, such as (i) custodial accounts where the spouses are the joint Annuitants and (ii) trusts where the spouses are the sole beneficial owners, and the For Life Guarantee is based on the Annuitant's life who dies last. We will allow changes (a) from joint individual ownership of non-qualified Contracts to ownership by the types of legal entities that we permit, or (b) changes of ownership from such a legal entity to the Annuitants or to another such legal entity; however, we do not allow these ownership changes if they are a taxable event under the Code, and no changes of Annuitant subsequent to any such change are allowed. For Contracts purchased in the state of Oregon , other ownership changes may be permitted, however any ownership change not specifically described above as a permitted change, will result in termination of the GMWB.

Tax-qualified Contracts cannot be issued to joint Owners and require the Owner and Annuitant to be the same person. Under a tax-qualified Contract, the election of this GMWB requires the Owner and primary Beneficiary to be spouses (as defined in the Internal Revenue Code). The Owner and only the primary spousal Beneficiary named at the election of this GMWB under a tax-qualified Contract will also each be considered a Covered Life, and these Covered Lives cannot be subsequently changed.

In certain circumstances we may permit the elimination of a joint Owner Covered Life or primary spousal Beneficiary Covered Life in the event of divorce. In such cases, new Covered Lives may not be named.

For tax-qualified Contracts, the Owner and primary spousal Beneficiary cannot be changed while both are living. If the Owner dies first, the primary spousal Beneficiary will become the Owner upon Spousal Continuation and he or she may name a Beneficiary; however, that Beneficiary is not considered a Covered Life. Likewise, if the primary spousal Beneficiary dies first, the Owner may name a new Beneficiary; however, that Beneficiary is also not considered a Covered Life and consequently the For Life Guarantee will not apply to the new Beneficiary.

For both non-qualified and tax-qualified Contracts, this GMWB guarantees partial withdrawals during the Contract's accumulation phase (i.e., before the Income Date) for the longer of:


•	The lifetime of the last surviving Covered Life if the For Life Guarantee is in effect;

The For Life Guarantee becomes effective when this GMWB is added to the Contract.

So long as the For Life Guarantee is in effect, withdrawals are guaranteed even in the event Contract Value is reduced to zero.


•	Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.

The GWB is the guaranteed amount available for future periodic withdrawals.

Please consult the representative who helped you purchase your Contract to be sure that this GMWB ultimately suits your needs.

This GMWB is available to Covered Lives 45 to 85 years old (proof of age is required and both Covered Lives must be within the eligible age range). This GMWB may be added to a Contract on the Issue Date or on any Contract Anniversary and cannot be

canceled except by a spousal Beneficiary who is not a Covered Life, who, upon the Owner's death, may elect to continue the Contract without the GMWB. To continue joint GMWB coverage upon the death of the Owner (or the death of either joint Owner of a non-qualified Contract), provided that the other Covered Life is still living, the Contract must be continued by election of Spousal Continuation. Upon continuation, the spouse becomes the Owner and obtains all rights as the Owner.

At least 30 calendar days' prior notice and proof of age is required for Good Order to add this GMWB to a Contract on a Contract Anniversary. This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract). Availability of this GMWB may be subject to further limitation.

Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.



When this GMWB is added to the Contract on the Issue Date –	The GWB equals initial premium net of any applicable premium taxes.
	The GAWA is determined based on the youngest Covered Life's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below. The For Life Guarantee becomes effective on the Contract Issue Date.



When this GMWB is added to the Contract on any Contract Anniversary –	The GWB equals Contract Value.
	The GAWA is determined based on the youngest Covered Life's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below. The For Life Guarantee becomes effective on the Contract Anniversary on which the endorsement is added.

Premium net of any applicable premium taxes is used to calculate the GWB when this GMWB is added to the Contract on the Issue Date. If you were to instead add this GMWB to your Contract post issue on any Contract Anniversary, the GWB is calculated based on Contract Value on that date (see Example 1 in Appendix B). The GWB can never be more than $5 million (including upon Step-Up), and the GWB is reduced by each withdrawal.

PLEASE NOTE: Upon the Owner's death, the For Life Guarantee is void unless this GMWB is continued by a spousal Beneficiary who is a Covered Life. However, it is possible for this GMWB to be continued without the For Life Guarantee by a spousal Beneficiary who is not a Covered Life. Please see the “Spousal Continuation” subsection below for more information.

Withdrawals. The GAWA percentage and the GAWA are determined at the time of the first withdrawal. The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the partial withdrawal. The GAWA percentage varies according to age group and is determined based on the youngest Covered Life's attained age at the time of the first withdrawal. (In the examples in Appendix B and elsewhere in this prospectus we refer to this varying GAWA percentage structure as the “varying benefit percentage”.) The GAWA percentage for each age group is:



Ages	GAWA Percentage
45 – 59	4%
60 – 74	5%
75 – 84	6%
85+	7%

denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only. (There is no RMD for non-qualified Contracts.)



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the withdrawal less the withdrawal; Or
		●	Zero.
	The GAWA:
		●	Is unchanged while the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before the withdrawal, or the GWB after the withdrawal.

Withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 5 in Appendix B). In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount – even set equal to the Contract Value. The GAWA is also likely to be reduced. Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the lesser of:
		●	Contract Value after the withdrawal; Or
		●	The greater of the GWB before the withdrawal less the withdrawal, or zero.
	The GAWA is recalculated, equaling the lesser of:
		●	The GAWA percentage multiplied by the Contract Value after the withdrawal; Or
		●	The GAWA percentage multiplied by the GWB after the withdrawal.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements. All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts and withdrawals of asset allocation and advisory fees. They are subject to the same restrictions and processing rules as described in the Contract. They are also treated the same for federal income tax purposes. For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 129.

If the age of any Covered Life is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age. Any future GAWA percentage recalculation will be based on the correct age. If the age at election of either Covered Life falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.

Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis. But with this GMWB, the GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the For Life Guarantee may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Examples that are relevant specific to tax-qualified Contracts, illustrating this GMWB, in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix B, particularly examples 4, 5, and 7. Please consult the representative who helped you purchase your tax-qualified Contract, and your tax adviser, to be sure that this GMWB ultimately suits your needs relative to your RMD.

Premiums.



With each subsequent premium payment on the Contract –	The GWB is recalculated, increasing by the amount of the premium net of any applicable premium taxes.
	If the premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
		●	The GAWA percentage multiplied by the subsequent premium payment net of any applicable premium taxes; Or
		●	The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.



With a Step-Up –	The GWB equals Contract Value (subject to a $5 million maximum).
	If the Contract Value is greater than the BDB prior to the Step-Up then the BDB is set to equal the Contract Value (not subject to any maximum amount); and, if the Step-Up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the youngest Covered Life.
		●	The GAWA percentage will not be recalculated upon Step-Ups following Spousal Continuation if the spouse electing Spousal Continuation is not a Covered Life.
	If the Step-Up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
		●	The GAWA percentage multiplied by the new GWB, Or
		●	The GAWA prior to Step-Up.

Step-Ups occur automatically upon each of the first ten Contract Anniversaries from the endorsement's effective date. Thereafter, a Step-Up is allowed at any time upon your request, so long as there is at least one year between Step-Ups. The GWB can never be more than $5 million with a Step-Up. However, automatic Step-Ups still occur and elected Step-Ups are still permitted even when the GWB is at the maximum of $5 million if the Contract Value is greater than the BDB and the GAWA percentage would increase. A request for Step-Up is processed and effective on the date received in Good Order. Please consult the

Owner's Death. The Contract's death benefit is not affected by this GMWB so long as Contract Value is greater than zero and the Contract is still in the accumulation phase. Upon the death of the sole Owner of a qualified Contract or the death of either joint Owner of a non-qualified Contract while the Contract is still in force, this GMWB terminates without value. Please see the information at the beginning of this GMWB Section regarding the required ownership and Beneficiary structure under both qualified and non-qualified Contracts when selecting the Joint For Life GMWB With Annual Step-Up benefit.

Contract Value Is Zero. With this GMWB, in the event Contract Value is zero, the GAWA is unchanged and payable so long as the For Life Guarantee is in effect, at least one Covered Life remains alive and the Contract is still in the accumulation phase. Otherwise, payments will be made while there is value to the GWB (until depleted), so long as the Contract is still in the accumulation phase. If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the youngest Covered Life's attained age at the time the Contract Value falls to zero.



After each payment when the Contract Value is zero –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the payment less the payment; Or
		●	Zero.
	The GAWA:
		●	Is unchanged so long as the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before, or the GWB after, the payment.

Payments are made on the periodic basis you elect, but not less frequently than annually. If you die before all scheduled payments are made, then your Beneficiary will receive the remainder of the GWB in the form of continuing scheduled payments. All other rights under your Contract cease, except for the right to change Beneficiaries. No subsequent premium payments will be accepted. All optional endorsements terminate without value. And no other death benefit is payable.

Spousal Continuation. In the event of the Owner's (or either joint Owner's) death, the surviving spousal Beneficiary may elect to:


•	Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase. (The date the spousal Beneficiary's election to continue the Contract is in Good Order is called the Continuation Date.)


◦	If the surviving spouse is a Covered Life, then the For Life Guarantee remains effective on and after the Continuation Date.

If the surviving spouse is not a Covered Life, the For Life Guarantee is null and void. However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted.


◦	For a surviving spouse who is a Covered Life, continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee. The For Life Guarantee is not a separate guarantee and only applies if the related GMWB has not terminated.


◦	Step-Ups will continue automatically or as permitted in accordance with the above rules for Step-Ups.


◦	Contract Anniversaries will continue to be based on the original Contract's Issue Date.


◦	If the surviving spouse is a Covered Life, the GAWA percentage will continue to be calculated and/or recalculated based on the youngest Covered Life's attained age.


◦	If the surviving spouse is not a Covered Life and if the GAWA percentage has not yet been determined, the GAWA percentage will be based on the youngest Covered Life's attained age at the time of death. The GAWA percentage will not change on future Step-Ups.


◦	The Latest Income Date is based on the age of the surviving spouse. Please refer to “Annuitization” subsection below for information regarding the additional Income Options available on the Latest Income Date.


◦	A new joint Owner may not be added in a non-qualified Contract if a surviving spouse continues the Contract.


•	Continue the Contract without this GMWB (GMWB is terminated) if the surviving spouse is not a Covered Life. Thereafter, no GMWB charge will be assessed. If the surviving spouse is a Covered Life, the Contract cannot be continued without this GMWB.


•	Add another GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the spousal Beneficiary's eligibility, and provided that this GMWB was terminated on the Continuation Date.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 128.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge and all benefits cease on the earliest of:


•	The Income Date;


•	The date of complete withdrawal of Contract Value (full surrender of the Contract);


•	Conversion of this GMWB (if conversion is permitted);


•	The date of death of the Owner (or either joint Owner), unless the Beneficiary who is the Owner's spouse elects to continue the Contract with the GMWB (continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee if the surviving spouse is a Covered Life);


•	The Continuation Date on a Contract if the spousal Beneficiary, who is not a Covered Life, elects to continue the Contract without the GMWB; or


•	The date all obligations under this GMWB are satisfied after the Contract has been terminated.

Annuitization.

Joint Life Income of GAWA. On the Latest Income Date if the For Life Guarantee is in effect, the Owner may choose this income option instead of one of the other income options listed in the Contract. This income option provides payments in a fixed dollar amount for the lifetime of last surviving Covered Life. The total annual amount payable will equal the GAWA in effect at the time of election of this option. This annualized amount will be paid in the frequency (no less frequently than annually) that the Owner selects. No further annuity payments are payable after the death of the last surviving Covered Life, and there is no provision for a death benefit payable to the Beneficiary. Therefore, it is possible for only one annuity payment to be made under this Income Option if both Covered Lives die before the due date of the second payment.

If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the youngest Covered Life's attained age at the time of election of this option. The GAWA percentage will not change after election of this option.

Specified Period Income of the GAWA. On the Latest Income Date if the For Life Guarantee is not in effect, the Owner may choose this income option instead of one of the other income options listed in the Contract. (This income option only applies if the GMWB has been continued by the spousal Beneficiary and the spousal Beneficiary is not a Covered Life in which case the spouse becomes the Owner of the Contract and the Latest Income Date is based on the age of the spouse.)

For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up (“LifeGuard Freedom GMWB”). The following description of this GMWB is supplemented by the examples in Appendix B, particularly example 2 for the varying benefit percentage, examples 6 and 7 for the Step-Ups and example 11 for the guaranteed withdrawal balance adjustment.

PLEASE NOTE: EFFECTIVE SEPTEMBER 28, 2009, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

This GMWB guarantees partial withdrawals during the Contract's accumulation phase (i.e., before the Income Date) for the longer of:


•	The Owner's life (the “For Life Guarantee”) if the For Life Guarantee is in effect;

The For Life Guarantee is based on the life of the first Owner to die with joint Owners. There are also other GMWB options for joint Owners that are spouses, as described below.

For the Owner that is a legal entity, the For Life Guarantee is based on the Annuitant's life (or the life of the first Annuitant to die if there is more than one Annuitant).

If this GMWB was added to your Contract on or after October 6, 2008, but before January 12, 2009, the For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the Owner (or with joint Owners, the oldest Owner) attaining the age of 63. If the Owner (or oldest Owner) was 63 years old or older on the endorsement's effective date, then the For Life Guarantee became effective when this GMWB was added to the Contract.

The For Life Guarantee remains effective until the date this endorsement is terminated, as described below, or until the Continuation Date on which this GMWB endorsement is continued under spousal continuation. So long as the For Life Guarantee is in effect, withdrawals are guaranteed even in the event Contract Value is reduced to zero.


•	Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.

The GWB is the guaranteed amount available for future periodic withdrawals.

Please consult the representative who is helping, or who helped, you purchase your Contract to be sure that this GMWB ultimately suits your needs.

This GMWB is available to Owners 45 to 80 years old (proof of age is required); may be added to a Contract on the Issue Date or any Contract Anniversary; and once added cannot be canceled except by a Beneficiary who is the Owner's spouse, who, upon the Owner's death, may elect to continue the Contract without the GMWB. At least 30 calendar days' prior notice and proof of age is required for Good Order to add this GMWB to a Contract on a Contract Anniversary. This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract). We allow ownership changes of a Contract with this GMWB (i) from an Owner that is a natural person to a trust, if that individual and the Annuitant are the same person or (ii) when the Owner is a legal entity , to another legal entity or the Annuitant , provided these changes are not taxable events under the Code . In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. Otherwise, ownership changes are not allowed. When the Owner is a legal entity, changing Annuitants is not allowed. Availability of this GMWB may be subject to further limitation.

Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.



When this GMWB is added to the Contract on the Issue Date –	The GWB equals initial premium net of any applicable premium taxes.
	The GAWA is determined based on the Owner's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.



When this GMWB is added to the Contract on any Contract Anniversary –	The GWB equals Contract Value.
	The GAWA is determined based on the Owner's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.

If this GMWB was added to your Contract on or after January 12, 2009, the GAWA percentage for each age group is:



Ages	GAWA Percentage
45 – 62	4%
63 – 74	5%
75 – 80	6%
81+	7%

If this GMWB was added to your Contract before January 12, 2009, the GAWA percentage for each age group is:



Ages	GAWA Percentage
45 – 74	5%
75 – 80	6%
81+	7%

Withdrawals cause the GWB to be recalculated. Withdrawals may also cause the GAWA to be recalculated, depending on whether or not the withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA). The tables below clarify what happens in either instance. (RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only. There is no RMD for non-qualified Contracts.) In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee. See “Contract Value is Zero” below for more information.



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the withdrawal less the withdrawal; Or
		●	Zero.
	The GAWA:
		●	Is unchanged while the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before the withdrawal, or the GWB after the withdrawal.

The GAWA is generally not reduced if all withdrawals during any one Contract Year do not exceed the greater of the GAWA or RMD, as applicable, unless the For Life Guarantee is not in effect and the GWB is nearly depleted, resulting in a GWB that is less than the GAWA. You may withdraw the greater of the GAWA or RMD, as applicable, all at once or throughout the Contract Year. Withdrawing less than the greater of the GAWA or RMD, as applicable, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, as applicable, in the next Contract Year. The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
		●	Zero.
	The GAWA is recalculated as follows:
		●	If the For Life Guarantee is in force, the GAWA prior to the partial withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.
		●	If the For Life Guarantee is not in force, the GAWA is equal to the lesser of: • The GAWA prior to the partial withdrawal reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal, Or • The GWB after the withdrawal.

The Excess Withdrawal is defined to be the lesser of:


•	The total amount of the current partial withdrawal, or


•	The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis. But with this GMWB, the GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the For Life Guarantee may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Guaranteed Withdrawal Balance Adjustment. If this GMWB was added to your Contract on or after October 6, 2008 and no withdrawals are taken from the Contract on or prior to the GWB Adjustment Date (as defined below), then you will receive a GWB adjustment.

The GWB Adjustment Date is the later of:


•	The Contract Anniversary on or immediately following the Owner's (or oldest joint Owner's) 70^th birthday, Or


•	The 10^th Contract Anniversary following the effective date of this endorsement.

The GWB adjustment is determined as follows:


•	On the effective date of this endorsement, the GWB adjustment is equal to 200% of the GWB, subject to a maximum of $5,000,000.


•	With each subsequent premium received after this GMWB is effective and prior to the first Contract Anniversary following this GMWB's effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior

to the premium payment plus 200% of the amount of the premium payment, net of any applicable premium taxes, subject to a maximum of $5,000,000. (See Example 3 in Appendix B.)


•	With each subsequent premium received on or after the first Contract Anniversary following this GMWB's effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the premium payment plus the amount of the premium payment, net of any applicable premium taxes, subject to a maximum of $5,000,000. (See Example 3 in Appendix B.)

If no partial withdrawals are taken on or prior to the GWB Adjustment Date, the GWB will be re-set on that date to equal the greater of the current GWB or the GWB adjustment. No adjustments are made to the Bonus Base or the Benefit Determination Baseline (explained below). Once the GWB is re-set, this GWB adjustment provision terminates. In addition, if a withdrawal is taken on or before the GWB Adjustment Date, this GWB adjustment provision terminates without value. (Please see example 11 in Appendix B for an illustration of this GWB adjustment provision.)

Premiums.



With each subsequent premium payment on the Contract –	The GWB is recalculated, increasing by the amount of the premium net of any applicable premium taxes.
	If the premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
		●	The GAWA percentage multiplied by the subsequent premium payment net of any applicable premium taxes; Or
		●	The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.

Step-Up. On each Contract Anniversary following the effective date of this GMWB, if the highest quarterly Contract Value is greater than the GWB, the GWB will be automatically re-set to the highest quarterly Contract Value (a “Step-Up”).

If this GMWB was added to your Contract on or after October 6, 2008, then, in addition to an increase in the GWB, a Step-Up allows for a potential increase in the GAWA percentage in the event that the Step-Up occurs after the first withdrawal. The value used to determine whether the GAWA percentage will increase upon Step-Up is called the Benefit Determination Baseline (BDB). The BDB equals initial premium net of any applicable premium taxes, if this GMWB is elected at issue, or the Contract Value on the Contract Anniversary on which the endorsement is added, if elected after issue.

Upon Step-Up, if the highest quarterly Contract Value is greater than the BDB and the Step-Up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the Owner's attained age. If an age band is crossed, the GAWA percentage will be increased. For example, assume an Owner was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 5%. Also assume that, when the Owner is age 76, a Step-Up occurs and the highest quarterly Contract Value is greater than the BDB; in that case, the GAWA percentage will be re-determined based on the Owner's attained age of 76, resulting in a new GAWA percentage of 6%.

Upon Step-Up, if the highest quarterly Contract Value is not greater than the BDB, the GAWA percentage remains unchanged regardless of whether an age band has been crossed.

In the event that the highest quarterly Contract Value is greater than the BDB, the BDB is set equal to the highest quarterly Contract Value.

Withdrawals do not affect the BDB. Subsequent premium payments increase the BDB by the amount of the premium net of any applicable premium taxes. In addition, unlike the GWB, the BDB is not subject to any maximum amount. Therefore, it is possible for the BDB to be more than $5 million.



With a Step-Up –	The GWB equals the highest quarterly Contract Value (subject to a $5 million maximum).
	If this GMWB was added to your Contract on or after October 6, 2008 and the highest quarterly Contract Value is greater than the BDB prior to the Step-Up, then the BDB is set to equal the highest quarterly Contract Value (not subject to any maximum amount); and, if the Step-Up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the Owner.
		●	If there are joint Owners, the GAWA percentage is recalculated based on the oldest joint Owner.
		●	The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation.
	For all Contracts to which this GMWB is added, if the Step-Up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
		●	The GAWA percentage multiplied by the new GWB, Or
		●	The GAWA prior to Step-Up.

The highest quarterly Contract Value equals the highest of the quarterly adjusted Contract Values from the four most recent Contract Quarterly Anniversaries, including the Contract Anniversary upon which the Step-Up is determined. The quarterly adjusted Contract Value equals the Contract Value on the Contract Quarterly Anniversary, plus any premium paid subsequent to that Contract Quarterly Anniversary, net of any applicable premium taxes, adjusted for any partial withdrawals taken subsequent to that Contract Quarterly Anniversary.

Partial withdrawals will affect the quarterly adjusted Contract Value as follows:



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The quarterly adjusted Contract Value is equal to the greater of:
		●	The quarterly adjusted Contract Value before the withdrawal less the withdrawal; Or
		●	Zero.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The quarterly adjusted Contract Value is equal to the greater of:
		●	The quarterly adjusted Contract Value prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see above), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
		●	Zero.

FOR CONTRACTS TO WHICH THIS GMWB WAS ADDED ON OR AFTER OCTOBER 6, 2008, PLEASE NOTE: Withdrawals from the Contract reduce the GWB and highest quarterly Contract Value but do not affect the BDB. In the event of withdrawals, the BDB remains unchanged. Therefore, because the highest quarterly Contract Value must be greater than the BDB prior to Step-Up in order for the GAWA percentage to increase, a GAWA percentage increase may become less likely when continuing withdrawals are made from the Contract.

Upon Step-Up on or after the 5^th Contract Anniversary (11^th Contract Anniversary if this endorsement is added to the Contract before January 12, 2009) following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge of 1.50%. You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups. Such election must be received in Good Order prior to the Contract Anniversary. You may

subsequently elect to reinstate the Step-Up provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The GWB can never be more than $5 million with a Step-Up. However, the BDB is not subject to a $5 million maximum; therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum because automatic Step-Ups still occur if the highest quarterly Contract Value is greater than the BDB. For example, assume the GWB and BDB are equal to $5 million prior to a Step-Up. Also assume that the GAWA percentage is 5% and the GAWA is $250,000. If, at the time of Step-Up, the highest quarterly Contract Value is $6 million, a Step-Up will occur. The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million. If an age band has been crossed and the GAWA percentage for the Owner’s attained age is 6%, then the GAWA will be equal to $300,000 (6% x $5 million).

Please consult the representative who helped you purchase your Contract to be sure if a Step-Up is right for you and about any increase in charges upon a Step-Up. Upon Step-Up, the applicable GMWB charge will be reflected in your confirmation.

Contract Value Is Zero. With this GMWB, in the event the Contract Value is zero, the Owner will receive annual payments of the GAWA until the death of the Owner (or the death of any joint Owner), so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase. If the For Life Guarantee is not in effect, the Owner will receive annual payments of the GAWA until the earlier of the death of the Owner (or the death of any joint Owner) or the date the GWB, if any, is depleted, so long as the Contract is still in the accumulation phase. The last payment will not exceed the remaining GWB at the time of payment. If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner's (or oldest joint Owner's) attained age at the time the Contract Value falls to zero and the GAWA will be equal to the GAWA percentage multiplied to the GWB.



After each payment when the Contract Value is zero –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the payment less the payment; Or
		●	Zero.
	The GAWA:
		●	Is unchanged so long as the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before, or the GWB after, the payment.

Payments are made on the periodic basis you elect, but no less frequently than annually. If you die, all rights under your Contract cease. No subsequent premium payments will be accepted. All optional endorsements terminate without value. And no death benefit is payable.

Spousal Continuation. In the event of the Owner's death (or the first Owner's death with joint Owners), the Beneficiary who is the Owner's spouse may elect to:


•	Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase. (The date the spousal Beneficiary's election to continue the Contract is in Good Order is called the Continuation Date.)


◦	Upon the Owner's death, the For Life Guarantee is void.


◦	Only the GWB is payable while there is value to it (until depleted).


◦	The GWB adjustment provision is void.


◦	Step-Ups will continue as permitted in accordance with the Step-Up rules above.


◦	Contract Anniversaries will continue to be based on the Contract's Issue Date.


◦	If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the original Owner's (or oldest joint Owner's) attained age on the continuation date. The GAWA percentage will not change on future Step-Ups, even if the Contract Value exceeds the BDB.


◦	The Latest Income Date is based on the age of the surviving spouse. Please refer to “Annuitization” subsection below for information regarding the availability of the “Specified Period Income of the GAWA” option if the GWB has been continued by a spousal Beneficiary upon the death of the original Owner.


•	Continue the Contract without this GMWB (GMWB is terminated).


•	Add this GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the Beneficiary's eligibility – whether or not the spousal Beneficiary terminated the GMWB in continuing the Contract.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 128.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge and all benefits cease on the earliest of:


•	The Income Date;


•	The date of complete withdrawal of Contract Value (full surrender of the Contract);

In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.


•	Conversion of this GMWB (if conversion is permitted);


•	The date of the Owner's death (or the first Owner's death with joint Owners), unless the Beneficiary who is the Owner's spouse elects to continue the Contract with the GMWB;


•	The Continuation Date if the spousal Beneficiary elects to continue the Contract without the GMWB; or


•	The date all obligations under this GMWB are satisfied after the Contract has been terminated.

Annuitization.

the original Owner, in which case the spouse becomes the Owner of the Contract and the Latest Income Date is based on the age of the spouse.)

Bonus. The primary purpose of the bonus is to act as an incentive for you to defer taking withdrawals. A bonus equal to 7% of the Bonus Base (defined below) will be applied to the GWB at the end of each Contract Year within the Bonus Period (also defined below) if no withdrawals are taken during that Contract Year. The bonus enables the GWB and GAWA to increase in a given Contract Year (even during a down market relative to your Contract Value allocated to the Investment Divisions). The increase, however, may not equal the amount that your Contract Value has declined. This description of the bonus feature is supplemented by the examples in Appendix B, particularly example 8. The box below has more information about the bonus, including:


•	How the bonus is calculated;


•	What happens to the Bonus Base (and bonus) with a withdrawal, premium payment, and any Step-Up;


•	For how long the bonus is available; and


•	When and what happens when the bonus is applied to the GWB.



The bonus equals 7% of the Bonus Base, which is an amount that may vary after this GMWB is added to the Contract, as described immediately below.
	●	When this GMWB is added to the Contract, the Bonus Base equals the GWB.
	●	With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA and the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal. Otherwise, there is no adjustment to the Bonus Base with withdrawals.
			○	All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; and withdrawals of asset allocation and advisory fees.
			○	A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
	●	With a premium payment, the Bonus Base increases by the amount of the premium payment net of any applicable premium taxes.



	●		With any Step-Up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the Step-Up.
The Bonus Base can never be more than $5 million.
The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year. Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied. When the bonus is applied:
		●	The GWB is recalculated, increasing by 7% of the Bonus Base.
		●	If the Bonus is applied after the first withdrawal (in a prior year), the GAWA is then recalculated, equaling the greater of the GAWA percentage multiplied by the new GWB or the GAWA before the bonus.
Applying the bonus to the GWB does not affect the Bonus Base, GWB adjustment or BDB.
The Bonus is only available during the Bonus Period. If this GMWB is added to the Contract on or after October 6, 2008, the Bonus Period begins on the effective date of this GMWB endorsement. In addition, the Bonus Period will re-start at the time the Bonus Base increases due to a Step-Up so long as the Step-Up occurs on or before the Contract Anniversary immediately following the Owner’s (if Joint Owners, the oldest Owner’s) 80^th birthday. (See example below.) The Bonus Period ends on the earlier of:
		●	The tenth Contract Anniversary following (1) the effective date of the endorsement or (2) the most recent increase to the Bonus Base due to a Step-Up, if later; or
		●	The date the Contract Value is zero.
The Bonus Base will continue to be calculated even after the Bonus Period expires. Therefore, it is possible for the Bonus Period to expire and then re-start on a later Contract Anniversary if the Bonus Base increases due to a Step-Up.
The purpose of the re-start provision is to extend the period of time over which the Owner is eligible to receive a bonus. For example, assume this GMWB was added to a Contract on December 1, 2008. At that time, the bonus period is scheduled to expire on December 1, 2018 (which is the tenth Contract Anniversary following the effective date of the endorsement). If a Step-Up increasing the Bonus Base occurs on the third Contract Anniversary following the effective date of the endorsement (December 1, 2011), and the Owner is younger than age 80, the Bonus Period will re-start and will be scheduled to expire on December 1, 2021. Further, assuming that the next Bonus Base increase due to a Step-Up does not occur until December 1, 2023 (which is two years after the Bonus Period in this example expired) and that the Owner is still younger than age 80 at that time, the Bonus Period would re-start on December 1, 2023, and would be scheduled to expire on December 1, 2033. (Please also see Examples 6 and 7 in Appendix B for more information regarding the re-start provision.)
If this GMWB was added to the Contract before October 6, 2008, the Bonus Period runs from the date this GMWB was added to the Contract through the earliest of:
	●		The tenth Contract Anniversary after the effective date of the endorsement;
	●		The Contract Anniversary on or immediately following the Owner's (if joint Owners, the oldest Owner's) 81^st birthday; or
	●		The date Contract Value is zero.
If this GMWB was added to the Contract before October 6, 2008, there is no provision allowing the Bonus Period to restart.



Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract's Issue Date.

Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up (“LifeGuard Freedom GMWB With Joint Option”). The following description of this GMWB is supplemented by the examples in Appendix B, particularly example 2 for the varying benefit percentage, examples 6 and 7 for the Step-Ups, example 10 for the For Life guarantees and example 11 for the guaranteed withdrawal balance adjustment.

PLEASE NOTE: EFFECTIVE SEPTEMBER 28, 2009, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

For both non-qualified and tax-qualified Contracts, this GMWB guarantees partial withdrawals during the Contract's accumulation phase (i.e., before the Income Date) for the longer of:


•	The lifetime of the last surviving Covered Life if the For Life Guarantee is in effect;

If this GMWB is added to your Contract on or after January 12, 2009, the For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the youngest Covered Life attaining the age of 59 1/2. If the youngest Covered Life is 59 1/2 years old or older on the endorsement's effective date, then the For Life Guarantee is effective when this GMWB is added to the Contract.

If this GMWB was added to your Contract on or after October 6, 2008, but before January 12, 2009, the For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the youngest Covered Life attaining the age of 62. If the youngest Covered Life was 62 years old or older on the endorsement's effective date, then the For Life Guarantee became effective when this GMWB was added to the Contract.

If this GMWB was added to your Contract before October 6, 2008, the For Life Guarantee became effective when this GMWB was added to the Contract.

The For Life Guarantee remains effective until the date this endorsement is terminated, as described below, or until the Continuation Date on which a spousal Beneficiary who is not a Covered Life continues this GMWB endorsement under spousal continuation. So long as the For Life Guarantee is in effect, withdrawals are guaranteed even in the event Contract Value is reduced to zero.


•	Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.

The GWB is the guaranteed amount available for future periodic withdrawals.

Please consult the representative who is helping, or who helped, you purchase your Contract to be sure that this GMWB ultimately suits your needs.

This GMWB is available to Covered Lives 45 to 80 years old (proof of age is required and both Covered Lives must be within the eligible age range). This GMWB may be added to a Contract on the Issue Date or on any Contract Anniversary and cannot be canceled except by a spousal Beneficiary who is not a Covered Life, who, upon the Owner's death, may elect to continue the Contract without the GMWB. To continue joint GMWB coverage upon the death of the Owner (or the death of either joint Owner of a non-qualified Contract), provided that the other Covered Life is still living, the Contract must be continued by election of Spousal Continuation. Upon continuation, the spouse becomes the Owner and obtains all rights as the Owner.

Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.



When this GMWB is added to the Contract on the Issue Date –	The GWB equals initial premium net of any applicable premium taxes.
	The GAWA is determined based on the youngest Covered Life's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.



When this GMWB is added to the Contract on any Contract Anniversary –	The GWB equals Contract Value.
	The GAWA is determined based on the youngest Covered Life's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.

PLEASE NOTE: Upon the Owner's death, the For Life Guarantee is void unless this GMWB is continued by a spousal beneficiary who is a Covered Life. However, it is possible for this GMWB to be continued without the For Life Guarantee by a spousal Beneficiary who is not a Covered Life. Please see the “Spousal Continuation” subsection below for more information.

Withdrawals. The GAWA percentage and the GAWA are determined at the time of the first withdrawal. The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the partial withdrawal. The GAWA percentage varies according to age group and is determined based on the youngest Covered Life's attained age at the time of the first withdrawal. (In the examples in Appendix B and elsewhere in this prospectus we refer to this varying GAWA percentage structure as the “varying benefit percentage”.)

If this GMWB was added to your Contract on or after January 12, 2009, the GAWA percentage for each age group is:



Ages	GAWA Percentage
45 – 62	4%
63 – 74	5%
75 – 80	6%
81+	7%

If this GMWB was added to your Contract before January 12, 2009, the GAWA percentage for each age group is:



Ages	GAWA Percentage
45 – 74	5%
75 – 80	6%
81+	7%

Withdrawals cause the GWB to be recalculated. Withdrawals may also cause the GAWA to be recalculated, depending on whether or not the withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA). The tables below clarify what happens in either instance. (RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only. There is no RMD for non-qualified Contracts.) In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee. See “Contract Value is Zero” below for more information.



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the withdrawal less the withdrawal; Or
		●	Zero.
	The GAWA:
		●	Is unchanged while the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before the withdrawal, or the GWB after the withdrawal.

withdrawal amount. The GAWA is also likely to be reduced. Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
		●	Zero.
	The GAWA is recalculated as follows:
		●	If the For Life Guarantee is in force, the GAWA prior to the partial withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.
		●	If the For Life Guarantee is not in force, the GAWA is equal to the lesser of: • The GAWA prior to the partial withdrawal reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal, Or • The GWB after the withdrawal.

The Excess Withdrawal is defined to be the lesser of:


•	The total amount of the current partial withdrawal, or


•	The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis. But with this GMWB, the GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the For Life Guarantee may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

The GWB Adjustment Date is the later of:


•	The Contract Anniversary on or immediately following the youngest Covered Life's 76^th birthday, Or


•	The 10^th Contract Anniversary following the effective date of this endorsement.

The GWB adjustment is determined as follows:


•	On the effective date of this endorsement, the GWB adjustment is equal to 200% of the GWB, subject to a maximum of $5,000,000.


•	With each subsequent premium received after this GMWB is effective and prior to the first Contract Anniversary following this GMWB's effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the premium payment plus 200% of the amount of the premium payment, net of any applicable premium taxes, subject to a maximum of $5,000,000. (See Example 3 in Appendix B.)


•	With each subsequent premium received on or after the first Contract Anniversary following this GMWB's effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the premium payment plus the amount of the premium payment, net of any applicable premium taxes, subject to a maximum of $5,000,000. (See Example 3 in Appendix B.)

Premiums.



With each subsequent premium payment on the Contract –	The GWB is recalculated, increasing by the amount of the premium net of any applicable premium taxes.
	If the premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
		●	The GAWA percentage multiplied by the subsequent premium payment net of any applicable premium taxes; Or
		●	The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.

Upon Step-Up, if the highest quarterly Contract Value is greater than the BDB and the Step-Up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the youngest Covered Life's attained age. If an age band is crossed, the GAWA percentage will be increased. For example, assume the youngest Covered Life was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 5%. Also assume that, when the youngest Covered Life is age 76, a Step-Up occurs and the highest quarterly Contract Value is greater than the BDB; in that case, the GAWA percentage will be re-determined based on the youngest Covered Life's attained age of 76, resulting in a new GAWA percentage of 6%.

Upon Step-Up, if the highest quarterly Contract Value is not greater than the BDB, the GAWA percentage remains unchanged regardless of whether an age band has been crossed.

In the event that the highest quarterly Contract Value is greater than the BDB, the BDB is set equal to the highest quarterly Contract Value.

100



With a Step-Up –	The GWB equals the highest quarterly Contract Value (subject to a $5 million maximum).
	If this GMWB was added to your Contract on or after October 6, 2008 and the highest quarterly Contract Value is greater than the BDB prior to the Step-Up, then the BDB is set to equal the highest quarterly Contract Value (not subject to any maximum amount); and, if the Step-Up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the youngest Covered Life.
		●	The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation if the spouse electing Spousal Continuation is not a Covered Life.
	For all Contracts to which this GMWB is added, if the Step-Up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
		●	The GAWA percentage multiplied by the new GWB, Or
		●	The GAWA prior to Step-Up.

Partial withdrawals will affect the quarterly adjusted Contract Value as follows:



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The quarterly adjusted Contract Value is equal to the greater of:
		●	The quarterly adjusted Contract Value before the withdrawal less the withdrawal; Or
		●	Zero.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The quarterly adjusted Contract Value is equal to the greater of:
		●	The quarterly adjusted Contract Value prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see above), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
		●	Zero.

Upon Step-Up on or after the 5^th Contract Anniversary (11^th Contract Anniversary if this endorsement is added to the Contract before January 12, 2009) following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge of 1.86%. You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups. Such election must be received in Good Order prior to the Contract Anniversary. You may subsequently elect to reinstate the Step-Up provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

101

The GWB can never be more than $5 million with a Step-Up. However, the BDB is not subject to a $5 million maximum; therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum because automatic Step-Ups still occur if the highest quarterly Contract Value is greater than the BDB. For example, assume the GWB and BDB are equal to $5 million prior to a Step-Up. Also assume that the GAWA percentage is 5% and the GAWA is $250,000. If, at the time of Step-Up, the highest quarterly Contract Value is $6 million, a Step-Up will occur. The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million. If an age band has been crossed and the GAWA percentage for the youngest Covered Life’s attained age is 6%, then the GAWA will be equal to $300,000 (6% x $5 million).

Owner's Death. The Contract's death benefit is not affected by this GMWB so long as Contract Value is greater than zero and the Contract is still in the accumulation phase. Upon the death of the sole Owner of a qualified Contract or the death of either joint Owner of a non-qualified Contract while the Contract is still in force, this GMWB terminates without value. Please see the information at the beginning of this GMWB Section regarding the required ownership and beneficiary structure under both qualified and non-qualified Contracts when selecting the Joint For Life GMWB With Bonus and Annual Step-Up benefit.

Contract Value Is Zero. With this GMWB, in the event the Contract Value is zero, the Owner will receive annual payments of the GAWA until the death of the last surviving Covered Life, so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase. If the For Life Guarantee is not in effect, the Owner will receive annual payments of the GAWA until the earlier of the death of the Owner (or the death of any joint Owner) or the date the GWB, if any, is depleted, so long as the Contract is still in the accumulation phase. The last payment will not exceed the remaining GWB at the time of payment. If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the youngest Covered Life's attained age at the time the Contract Value falls to zero and the GAWA will be equal to the GAWA percentage multiplied to the GWB.



After each payment when the Contract Value is zero –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the payment less the payment; Or
		●	Zero.
	The GAWA:
		●	Is unchanged so long as the For Life Guarantee is in effect; Otherwise
		●	Is recalculated, equaling the lesser of the GAWA before, or the GWB after, the payment.

Payments are made on the periodic basis you elect, but no less frequently than annually. Upon death of the last surviving Covered Life, all rights under the Contract cease. No subsequent premium payments will be accepted. All optional endorsements terminate without value. And no death benefit is payable.

Spousal Continuation. In the event of the Owner's (or either joint Owner's) death, the surviving spousal beneficiary may elect to:


•	Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase. (The date the spousal Beneficiary's election to continue the Contract is in Good Order is called the Continuation Date.)


◦	If the surviving spouse is a Covered Life, then the For Life Guarantee remains effective on and after the Continuation Date.

If the surviving spouse is not a Covered Life, the For Life Guarantee is null and void. However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted.


◦	For a surviving spouse who is a Covered Life, continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee. The For Life Guarantee is not a separate guarantee and only applies if the related GMWB has not terminated.

102


◦	If the surviving spouse is a Covered Life and the GWB adjustment provision is in force on the continuation date then the provision will continue to apply in accordance with the GWB adjustment provision rules above. The GWB adjustment date will continue to be based on the original effective date of the endorsement or the youngest Covered Life's attained age, as applicable.

If the surviving spouse it not a Covered Life, the GWB adjustment is null and void.


◦	Step-Ups will continue as permitted in accordance with the Step-Up rules above.


◦	Contract Anniversaries will continue to be based on the original Contract's Issue Date.


◦	If the surviving spouse is a Covered Life, the GAWA percentage will continue to be calculated and/or recalculated based on the youngest Covered Life's attained age.


◦	If the surviving spouse is not a Covered Life and if the GAWA percentage has not yet been determined, the GAWA percentage will be based on the youngest Covered Life's attained age on the continuation date. The GAWA percentage will not change on future Step-Ups.


◦	The Latest Income Date is based on the age of the surviving spouse. Please refer to “Annuitization” subsection below for information regarding the additional Income Options available on the Latest Income Date.


◦	A new joint Owner may not be added in a non-qualified Contract if a surviving spouse continues the Contract.


•	Continue the Contract without this GMWB (GMWB is terminated) if the surviving spouse is not a Covered Life. Thereafter, no GMWB charge will be assessed. If the surviving spouse is a Covered Life, the Contract cannot be continued without this GMWB.


•	Add another GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the spousal Beneficiary's eligibility, and provided that this GMWB was terminated on the Continuation Date.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 128.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge and all benefits cease on the earliest of:


•	The Income Date;


•	The date of complete withdrawal of Contract Value (full surrender of the Contract);

In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.


•	Conversion of this GMWB (if conversion is permitted);


•	The date of death of the Owner (or either joint Owner), unless the Beneficiary who is the Owner's spouse elects to continue the Contract with the GMWB (continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee if the surviving spouse is a Covered Life);


•	The Continuation Date on a Contract if the spousal Beneficiary, who is not a Covered Life, elects to continue the Contract without the GMWB; or


•	The date all obligations under this GMWB are satisfied after the Contract has been terminated.

103

Annuitization.

Specified Period Income of the GAWA. On the Latest Income Date if the For Life Guarantee is not in effect, the Owner may choose this income option instead of one of the other income options listed in the Contract. (This income option only applies if the GMWB has been continued by the spousal Beneficiary and the spousal Beneficiary is not a Covered Life in which case the spouse becomes the Owner of the Contract and the Latest Income Date is based on the age of the spouse.)

Bonus. The primary purpose of the bonus is to act as an incentive for you to defer taking withdrawals. A bonus equal to 5% of the Bonus Base (defined below) (7% of the Bonus Base if the youngest Covered Life is 59 or older when this GMWB is added to the Contract) will be applied to the GWB at the end of each Contract Year within the Bonus Period (also defined below) if no withdrawals are taken during that Contract Year. The bonus enables the GWB and GAWA to increase in a given Contract Year (even during a down market relative to your Contract Value allocated to the Investment Divisions). The increase, however, may not equal the amount that your Contract Value has declined. This description of the bonus feature is supplemented by the examples in Appendix B, particularly example 8. The box below has more information about the bonus, including:


•	How the bonus is calculated;


•	What happens to the Bonus Base (and bonus) with a withdrawal, premium payment, and any Step-Up;


•	For how long the bonus is available; and


•	When and what happens when the bonus is applied to the GWB.

104



The bonus equals 5% of the Bonus Base (7% of the Bonus Base if the youngest Covered Life is 59 or older when this GMWB is added to the Contract), which is an amount that may vary after this GMWB is added to the Contract, as described immediately below. (If this GMWB was added to the Contract before October 6, 2008, the bonus equals 7% of the Bonus Base for all ages.)
	●		When this GMWB is added to the Contract, the Bonus Base equals the GWB.
	●		With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA and the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal. Otherwise, there is no adjustment to the Bonus Base with withdrawals.
				○	All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; and withdrawals of asset allocation and advisory fees.
				○	A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
	●		With a premium payment, the Bonus Base increases by the amount of the premium payment net of any applicable premium taxes.
	●		With any Step-Up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the Step-Up.
The Bonus Base can never be more than $5 million.
The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year. Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied. When the bonus is applied:
		●	The GWB is recalculated, increasing by 5% (7% if the youngest Covered Life is 59 or older when this GMWB is added to the Contract) of the Bonus Base. (If this GMWB was added to the Contract before October 6, 2008, the GWB increases by 7% for all ages.)
		●	If the Bonus is applied after the first withdrawal (in a prior year), the GAWA is then recalculated, equaling the greater of the GAWA percentage multiplied by the new GWB or the GAWA before the bonus.
Applying the bonus to the GWB does not affect the Bonus Base, GWB adjustment or BDB.
The Bonus is only available during the Bonus Period. If this GMWB is added to the Contract on or after October 6, 2008, the Bonus Period begins on the effective date of this GMWB endorsement. In addition, the Bonus Period will re-start at the time the Bonus Base increases due to a Step-Up so long as the Step-Up occurs on or before the Contract Anniversary immediately following the youngest Covered Life's 80^th birthday. (See example below.) The Bonus Period ends on the earlier of:
		●	The tenth Contract Anniversary following the effective date of the endorsement or the most recent Bonus Base Step-Up, if later; or
		●	The date the Contract Value is zero.
The Bonus Base will continue to be calculated even after the Bonus Period expires. Therefore, it is possible for the Bonus Period to expire and then re-start on a later Contract Anniversary if the Bonus Base increases due to a Step-Up.

105



The purpose of the re-start provision is to extend the period of time over which the Owner is eligible to receive a bonus. For example, assume this GMWB was added to a Contract on December 1, 2008. At that time, the bonus period is scheduled to expire on December 1, 2018 (which is the tenth Contract Anniversary following the effective date of the endorsement). If a Step-Up increasing the Bonus Base occurs on the third Contract Anniversary following the effective date of the endorsement (December 1, 2011), and the youngest Covered Life is younger than age 80, the Bonus Period will re-start and will be scheduled to expire on December 1, 2021. Further, assuming that the next Bonus Base increase due to a Step-Up does not occur until December 1, 2023 (which is two years after the Bonus Period in this example expired) and that the youngest Covered Life is still younger than age 80 at that time, the Bonus Period would re-start on December 1, 2023, and would be scheduled to expire on December 1, 2033. (Please also see Examples 6 and 7 in Appendix B for more information regarding the re-start provision.)
If this GMWB was added to the Contract before October 6, 2008, the Bonus Period runs from the date this GMWB was added to the Contract through the earliest of:
	●	The tenth Contract Anniversary after the effective date of the endorsement;
	●	The Contract Anniversary on or immediately following the youngest Covered Life's 81^st birthday; or
	●	The date Contract Value is zero.
If this GMWB was added to the Contract before October 6, 2008, there is no provision allowing the Bonus Period to restart.
Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract's Issue Date.

For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up (“LifeGuard Freedom 6 GMWB”). The following description of this GMWB is supplemented by the examples in Appendix B, particularly example 2 for the varying benefit percentage, examples 6 and 7 for the Step-Ups and example 11 for the guaranteed withdrawal balance adjustment. This GMWB guarantees partial withdrawals during the Contract's accumulation phase (i.e., before the Income Date) for the longer of:

PLEASE NOTE: EFFECTIVE OCTOBER 11, 2010, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.


•	The Owner's life (the “For Life Guarantee”) if the For Life Guarantee is in effect;

The For Life Guarantee is based on the life of the first Owner to die with joint Owners. There are also other GMWB options for joint Owners that are spouses, as described below.

For the Owner that is a legal entity, the For Life Guarantee is based on the Annuitant's life (or the life of the first Annuitant to die if there is more than one Annuitant).

The For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the Owner (or with joint Owners, the oldest Owner) attaining the age of 59 1/2. If the Owner (or oldest Owner) is 59 1/2 years old or older on the endorsement's effective date, then the For Life Guarantee is effective when this GMWB is added to the Contract. The For Life Guarantee remains effective until the date this endorsement is terminated, as described below, or until the Continuation Date on which this GMWB endorsement is continued under spousal continuation.

So long as the For Life Guarantee is in effect, withdrawals are guaranteed even in the event Contract Value is reduced to zero.


•	Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.

106

The GWB is the guaranteed amount available for future periodic withdrawals.

Please consult the representative who is helping, or who helped, you purchase your Contract to be sure that this GMWB ultimately suits your needs.

This GMWB is available to Owners 45 to 80 years old (proof of age is required); may be added to a Contract on the Issue Date or any Contract Anniversary; and once added cannot be canceled except by a Beneficiary who is the Owner's spouse, who, upon the Owner's death, may elect to continue the Contract without the GMWB. At least 30 calendar days' prior notice and proof of age is required for Good Order to add this GMWB to a Contract on a Contract Anniversary. This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract). We allow ownership changes of a Contract with this GMWB (i) from an Owner that is a natural person to a trust, if that individual and the annuitant are the same person or (ii) when the Owner is a legal entity , to another legal entity or the Annuitant , provided these changes are not taxable events under the Code . In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. Otherwise, ownership changes are not allowed. When the Owner is a legal entity, changing Annuitants is not allowed. Availability of this GMWB may be subject to further limitation.

Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.



When this GMWB is added to the Contract on the Issue Date –	The GWB equals initial premium net of any applicable premium taxes.
	The GAWA is determined based on the Owner's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.



When this GMWB is added to the Contract on any Contract Anniversary –	The GWB equals Contract Value.
	The GAWA is determined based on the Owner's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.



Ages	GAWA Percentage
45 – 64	4%
65 – 74	5%
75 – 80	6%
81+	7%

107

Withdrawals cause the GWB to be recalculated. Withdrawals will also cause the GAWA to be recalculated if the withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA). In such case, the recalculation of the GAWA will occur whether or not the For Life Guarantee is in effect. If the GWB is less than the GAWA at the end of any Contract Year and the For Life Guarantee is not in effect, the GAWA will be set equal to the GWB. This may occur, when over time, payment of the guaranteed withdrawals is nearly complete, the For Life Guarantee is not in effect and the GWB has been depleted to a level below the GAWA. The tables below clarify what happens in each instance. (RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only. There is no RMD for non-qualified Contracts.) In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee. See “Contract Value is Zero” below for more information.



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the withdrawal less the withdrawal; Or
		●	Zero.
	The GAWA is unchanged.

The GAWA is not reduced if all withdrawals during any one Contract Year do not exceed the greater of the GAWA or RMD, as applicable. The GAWA will be reduced at the end of a Contract Year to equal the GWB if the For Life Guarantee is not in effect and the GWB is nearly depleted, resulting in a GWB that is less than the GAWA. You may withdraw the greater of the GAWA or RMD, as applicable, all at once or throughout the Contract Year. Withdrawing less than the greater of the GAWA or RMD, as applicable, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, as applicable, in the next Contract Year. The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
		●	Zero.
	The GAWA is recalculated as follows:
		●	The GAWA prior to the partial withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.

The Excess Withdrawal is defined to be the lesser of:


•	The total amount of the current partial withdrawal, or


•	The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any charges or adjustments. Any withdrawals from Contract Value allocated to a Guaranteed Fixed Account option may be subject to an interest rate adjustment.

108

If the age of any Owner is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age. Any future GAWA percentage recalculation will be based on the correct age. If the age at election of the Owner (or oldest joint Owner) falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.

RMD NOTES: Notice of an RMD is required at the time of your withdrawal request, and there is an administrative form for such notice. The administrative form allows for one time or systematic withdrawals. Eligible withdrawals that are specified as RMDs may only be taken based on the value of the Contract to which the endorsement applies, even where the Internal Revenue Code allows for the taking of RMDs for multiple contracts from a single contract. You, as Owner, are responsible for complying with the Internal Revenue Code's RMD requirements. If your requested RMD exceeds our calculation of the RMD for your contract, your request will not be eligible for the waiver of any applicable charges and we will impose those charges, which will be reflected in the confirmation of the transaction. For information regarding the RMD calculation for your contract, please contact our Jackson of NY Service Center. Our contact information is on the cover page of this prospectus.

Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis. But with this GMWB, the GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the For Life Guarantee may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Guaranteed Withdrawal Balance Adjustment. If no withdrawals are taken from the Contract on or prior to the GWB Adjustment Date (as defined below), then you will receive a GWB adjustment.

109

The GWB Adjustment Date is the later of:


•	The Contract Anniversary on or immediately following the Owner's (or oldest joint Owner's) 70^th birthday,


•	The 10^th Contract Anniversary following the effective date of this endorsement.

The GWB adjustment is determined as follows:


•	On the effective date of this endorsement, the GWB adjustment is equal to 200% of the GWB, subject to a maximum of $5,000,000.


•	With each subsequent premium received after this GMWB is effective and prior to the first Contract Anniversary following this GMWB's effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the premium payment plus 200% of the amount of the premium payment, net of any applicable premium taxes, subject to a maximum of $5,000,000. (See Example 3 in Appendix B.)


•	With each subsequent premium received on or after the first Contract Anniversary following this GMWB's effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the premium payment plus the amount of the premium payment, net of any applicable premium taxes, subject to a maximum of $5,000,000. (See Example 3 in Appendix B.)

Premiums.



With each subsequent premium payment on the Contract –	The GWB is recalculated, increasing by the amount of the premium net of any applicable premium taxes.
	If the premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
		●	The GAWA percentage multiplied by the subsequent premium payment net of any applicable premium taxes; Or
		●	The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.

Step-Up. On each Contract Anniversary following the effective date of this GMWB, if the Contract Value is greater than the GWB, the GWB will be automatically re-set to the Contract Value (a “Step-Up”).

Upon Step-Up, if the Contract Value is greater than the BDB and the Step-Up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the Owner's attained age. If an age band is crossed, the GAWA percentage will be increased. For example, assume an Owner was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 5%. Also assume that, when the Owner is age 76, a Step-Up occurs and the Contract Value is greater than the BDB; in

110

that case, the GAWA percentage will be re-determined based on the Owner's attained age of 76, resulting in a new GAWA percentage of 6%.

Upon Step-Up, if the Contract Value is not greater than the BDB, the GAWA percentage remains unchanged regardless of whether an age band has been crossed.

In the event that the Contract Value is greater than the BDB, the BDB is set equal to the Contract Value. The purpose of this re-set is to increase the BDB that will be used to determine whether the GAWA percentage will increase upon a future Step-Up if an age band is crossed.



With a Step-Up –	The GWB equals the Contract Value (subject to a $5 million maximum).
	If the Contract Value is greater than the BDB prior to the Step-Up, then the BDB is set to equal the Contract Value (not subject to any maximum amount); and, if the Step-Up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the Owner.
		●	If there are joint Owners, the GAWA percentage is recalculated based on the oldest joint Owner.
		●	The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation.
	For all Contracts to which this GMWB is added, if the Step-Up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
		●	The GAWA percentage multiplied by the new GWB, Or
		●	The GAWA prior to Step-Up.

Upon Step-Up on or after the 5^th Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge of 1.50%. You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups. Such election must be received in Good Order prior to the Contract Anniversary. Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus. While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase. (Please see the “Bonus” subsection below for more information.) Also know that you may subsequently elect to reinstate the Step-Up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The GWB can never be more than $5 million with a Step-Up. However, the BDB is not subject to a $5 million maximum; therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum because automatic Step-Ups still occur if the Contract Value is greater than the BDB. For example, assume the GWB and BDB are equal to $5 million prior to a Step-Up. Also assume that the GAWA percentage is 5% and the GAWA is $250,000. If, at the time of Step-Up, the Contract Value is $6 million, a Step-Up will occur. The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million. If an age band has been crossed and the GAWA percentage for the Owner’s attained age is 6%, then the GAWA will be equal to $300,000 (6% x $5 million).

111



After each payment when the Contract Value is zero –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the payment less the payment; Or
		●	Zero.
	The GAWA is unchanged.

Spousal Continuation. In the event of the Owner's death (or the first Owner's death with joint Owners), the Beneficiary who is the Owner's spouse may elect to:


•	Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase. (The date the spousal Beneficiary's election to continue the Contract is in Good Order is called the Continuation Date.)


◦	Upon the Owner's death, the For Life Guarantee is void.


◦	Only the GWB is payable while there is value to it (until depleted).


◦	The GWB adjustment provision is void.


◦	Step-Ups will continue as permitted in accordance with the Step-Up rules above.


◦	Contract Anniversaries will continue to be based on the Contract's Issue Date.


◦	If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the original Owner's (or oldest joint Owner's) attained age on the continuation date. The GAWA percentage will not change on future Step-Ups, even if the Contract Value exceeds the BDB.


◦	The Latest Income Date is based on the age of the surviving spouse. Please refer to “Annuitization” subsection below for information regarding the availability of the “Specified Period Income of the GAWA” option if the GWB has been continued by a spousal Beneficiary upon the death of the original Owner.


•	Continue the Contract without this GMWB (GMWB is terminated).


•	Add this GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the Beneficiary's eligibility – whether or not the spousal Beneficiary terminated the GMWB in continuing the Contract.

112

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 128.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge and all benefits cease on the earliest of:


•	The Income Date;


•	The date of complete withdrawal of Contract Value (full surrender of the Contract);

In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.


•	Conversion of this GMWB (if conversion is permitted);


•	The date of the Owner's death (or the first Owner's death with joint Owners), unless the Beneficiary who is the Owner's spouse elects to continue the Contract with the GMWB;


•	The Continuation Date if the spousal Beneficiary elects to continue the Contract without the GMWB; or


•	The date all obligations under this GMWB are satisfied after the Contract has been terminated.

Annuitization.

See “Guaranteed Minimum Withdrawal Benefit Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 44 for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

113

Bonus. The primary purpose of the bonus is to act as an incentive for you to defer taking withdrawals. A bonus equal to 6% of the Bonus Base (defined below) will be applied to the GWB at the end of each Contract Year within the Bonus Period (also defined below) if no withdrawals are taken during that Contract Year. The bonus enables the GWB and GAWA to increase in a given Contract Year (even during a down market relative to your Contract Value allocated to the Investment Divisions). The increase, however, may not equal the amount that your Contract Value has declined. This description of the bonus feature is supplemented by the examples in Appendix B, particularly example 8. The box below has more information about the bonus, including:


•	How the bonus is calculated;


•	What happens to the Bonus Base (and bonus) with a withdrawal, premium payment, and any Step-Up;


•	For how long the bonus is available; and


•	When and what happens when the bonus is applied to the GWB.



The bonus equals 6% of the Bonus Base, which is an amount that may vary after this GMWB is added to the Contract, as described immediately below.
	●	When this GMWB is added to the Contract, the Bonus Base equals the GWB.
	●	With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA and the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal. Otherwise, there is no adjustment to the Bonus Base with withdrawals.
			○	All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; and withdrawals of asset allocation and advisory fees.
			○	A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
	●	With a premium payment, the Bonus Base increases by the amount of the premium payment net of any applicable premium taxes.
	●	With any Step-Up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the Step-Up.
The Bonus Base can never be more than $5 million.
The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year. Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied. When the bonus is applied:
	●	The GWB is recalculated, increasing by 6% of the Bonus Base.
	●	If the Bonus is applied after the first withdrawal (in a prior year), the GAWA is then recalculated, equaling the greater of the GAWA percentage multiplied by the new GWB or the GAWA before the bonus.
Applying the bonus to the GWB does not affect the Bonus Base, GWB adjustment or BDB.

114



The Bonus is only available during the Bonus Period. The Bonus Period begins on the effective date of this GMWB endorsement. In addition, the Bonus Period will re-start at the time the Bonus Base increases due to a Step-Up so long as the Step-Up occurs on or before the Contract Anniversary immediately following the Owner’s (if Joint Owners, the oldest Owner’s) 80^th birthday. (See example below.) The Bonus Period ends on the earlier of:
	●	The tenth Contract Anniversary following (1) the effective date of the endorsement or (2) the most recent increase to the Bonus Base due to a Step-Up, if later; or
	●	The date the Contract Value is zero.
The Bonus Base will continue to be calculated even after the Bonus Period expires. Therefore, it is possible for the Bonus Period to expire and then re-start on a later Contract Anniversary if the Bonus Base increases due to a Step-Up.
The purpose of the re-start provision is to extend the period of time over which the Owner is eligible to receive a bonus. For example, assume this GMWB was added to a Contract on December 1, 2009. At that time, the bonus period is scheduled to expire on December 1, 2019 (which is the tenth Contract Anniversary following the effective date of the endorsement). If a Step-Up increasing the Bonus Base occurs on the third Contract Anniversary following the effective date of the endorsement (December 1, 2012), and the Owner is younger than age 80, the Bonus Period will re-start and will be scheduled to expire on December 1, 2022. Further, assuming that the next Bonus Base increase due to a Step-Up does not occur until December 1, 2024 (which is two years after the Bonus Period in this example expired) and that the Owner is still younger than age 80 at that time, the Bonus Period would re-start on December 1, 2024, and would be scheduled to expire on December 1, 2034. (Please also see Examples 6 and 7 in Appendix B for more information regarding the re-start provision.)
Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract's Issue Date.

Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up (“LifeGuard Freedom 6 GMWB With Joint Option”). The description of this GMWB is supplemented by the examples in Appendix B, particularly example 2 for the varying benefit percentage, examples 6 and 7 for the Step-Ups, example 10 for the For Life guarantees and example 11 for the guaranteed withdrawal balance adjustment.

PLEASE NOTE: EFFECTIVE OCTOBER 11, 2010, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

115

For both non-qualified and tax-qualified Contracts, this GMWB guarantees partial withdrawals during the Contract's accumulation phase (i.e., before the Income Date) for the longer of:


•	The lifetime of the last surviving Covered Life if the For Life Guarantee is in effect;

The For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the youngest Covered Life attaining the age of 59 1/2. If the youngest Covered Life is 59 1/2 years old or older on the endorsement's effective date, then the For Life Guarantee is effective when this GMWB is added to the Contract. The For Life Guarantee remains effective until the date this endorsement is terminated, as described below, or until the Continuation Date on which a spousal Beneficiary who is not a Covered Life continues this GMWB endorsement under spousal continuation.

So long as the For Life Guarantee is in effect, withdrawals are guaranteed even in the event Contract Value is reduced to zero.


•	Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.

The GWB is the guaranteed amount available for future periodic withdrawals.

Please consult the representative who is helping, or who helped, you purchase your Contract to be sure that this GMWB ultimately suits your needs.

Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.

116



When this GMWB is added to the Contract on the Issue Date –	The GWB equals initial premium net of any applicable premium taxes.
	The GAWA is determined based on the youngest Covered Life's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.



When this GMWB is added to the Contract on any Contract Anniversary –	The GWB equals Contract Value.
	The GAWA is determined based on the youngest Covered Life's attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal. See the GAWA percentage table below.

Withdrawals. The GAWA percentage and the GAWA are determined at the time of the first withdrawal. The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the partial withdrawal. The GAWA percentage varies according to age group and is determined based on the youngest Covered Life's attained age at the time of the first withdrawal. (In the examples in Appendix B and elsewhere in this prospectus we refer to this varying GAWA percentage structure as the “varying benefit percentage”.) The GAWA percentage for each age group is:



Ages	GAWA Percentage
45 – 64	4%
65 – 74	5%
75 – 80	6%
81+	7%

117



When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the withdrawal less the withdrawal; Or
		●	Zero.
	The GAWA is unchanged.



When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –	The GWB is recalculated, equaling the greater of:
		●	The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
		●	Zero.
	The GAWA is recalculated as follows:
		●	The GAWA prior to the partial withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.

The Excess Withdrawal is defined to be the lesser of:


•	The total amount of the current partial withdrawal, or


•	The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

118

GAWA percentage recalculation will be based on the correct age. If the age at election of either Covered Life falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.

RMD NOTES: Notice of an RMD is required at the time of your withdrawal request, and there is an administrative form for such notice. The administrative form allows for one time or systematic withdrawals. Eligible withdrawals that are specified as RMDs may only be taken based on the value of the Contract to which the endorsement applies, even where the Internal Revenue Code allows for the taking of RMDs for multiple contracts from a single contract. You, as Owner, are responsible for complying with the Internal Revenue Code's RMD requirements. If your requested RMD exceeds our calculation of the RMD for your contract, your request will not be eligible for the waiver of any applicable charges and we will impose those charges, which will be reflected in the confirmation of the transaction. For information regarding the RMD calculation for your contract, please contact our Jackson of NY Service Center. Our contact information is on the cover page of this prospectus.

Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis. But with this GMWB, the GAWA is based on Contract Years. Because the intervals for the GAWA and RMDs are different, the For Life Guarantee may be more susceptible to being compromised. With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above. (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.) Below is an example of how this modified limit would apply.

The following example illustrates this exception. It assumes an individual Owner, born January 1, 1947, of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.

Guaranteed Withdrawal Balance Adjustment. If no withdrawals are taken from the Contract on or prior to the GWB Adjustment Date (as defined below), then you will receive a GWB adjustment.

The GWB Adjustment Date is the later of:


•	The Contract Anniversary on or immediately following the youngest Covered Life's 76^th birthday, Or


•	The 10^th Contract Anniversary following the effective date of this endorsement.

119

The GWB adjustment is determined as follows:


•	On the effective date of this endorsement, the GWB adjustment is equal to 200% of the GWB, subject to a maximum of $5,000,000.


•	With each subsequent premium received after this GMWB is effective and prior to the first Contract Anniversary following this GMWB's effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the premium payment plus 200% of the amount of the premium payment, net of any applicable premium taxes, subject to a maximum of $5,000,000. (See Example 3 in Appendix B.)


•	With each subsequent premium received on or after the first Contract Anniversary following this GMWB's effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the premium payment plus the amount of the premium payment, net of any applicable premium taxes, subject to a maximum of $5,000,000. (See Example 3 in Appendix B.)

Premiums.



With each subsequent premium payment on the Contract –	The GWB is recalculated, increasing by the amount of the premium net of any applicable premium taxes.
	If the premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
		●	The GAWA percentage multiplied by the subsequent premium payment net of any applicable premium taxes; Or
		●	The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.

Upon Step-Up, if the Contract Value is greater than the BDB and the Step-Up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the youngest Covered Life's attained age. If an age band is crossed, the GAWA percentage will be increased. For example, assume the youngest Covered Life was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 5%. Also assume that, when the youngest Covered Life is age 76, a Step-Up occurs and the Contract Value is greater than the BDB; in that case, the GAWA percentage will be re-determined based on the youngest Covered Life's attained age of 76, resulting in a new GAWA percentage of 6%.

Upon Step-Up, if the Contract Value is not greater than the BDB, the GAWA percentage remains unchanged regardless of whether an age band has been crossed.

120



With a Step-Up –	The GWB equals the Contract Value (subject to a $5 million maximum).
	If the Contract Value is greater than the BDB prior to the Step-Up, then the BDB is set to equal the Contract Value (not subject to any maximum amount); and, if the Step-Up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the youngest Covered Life.
		●	The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation if the spouse electing Spousal Continuation is not a Covered Life.
	For all Contracts to which this GMWB is added, if the Step-Up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
		●	The GAWA percentage multiplied by the new GWB, Or
		●	The GAWA prior to Step-Up.

Upon Step-Up on or after the 5^th Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge of 1.86%. You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups. Such election must be received in Good Order prior to the Contract Anniversary. Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus. While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase. (Please see the “Bonus” subsection below for more information.) Also know that you may subsequently elect to reinstate the Step-Up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The GWB can never be more than $5 million with a Step-Up. However, the BDB is not subject to a $5 million maximum; therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum because automatic Step-Ups still occur if the Contract Value is greater than the BDB. For example, assume the GWB and BDB are equal to $5 million prior to a Step-Up. Also assume that the GAWA percentage is 5% and the GAWA is $250,000. If, at the time of Step-Up, the Contract Value is $6 million, a Step-Up will occur. The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million. If an age band has been crossed and the GAWA percentage for the youngest Covered Life’s attained age is 6%, then the GAWA will be equal to $300,000 (6% x $5 million).

121

information at the beginning of this GMWB Section regarding the required ownership and beneficiary structure under both qualified and non-qualified Contracts when selecting the Joint For Life GMWB With Bonus and Annual Step-Up benefit.



After each payment when the Contract Value is zero –	The GWB is recalculated, equaling the greater of:
		●	The GWB before the payment less the payment; Or
		●	Zero.
	The GAWA is unchanged.

Spousal Continuation. In the event of the Owner's (or either joint Owner's) death, the surviving spousal Beneficiary may elect to:


•	Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase. (The date the spousal Beneficiary's election to continue the Contract is in Good Order is called the Continuation Date.)


◦	If the surviving spouse is a Covered Life, then the For Life Guarantee remains effective on and after the Continuation Date.

If the surviving spouse is not a Covered Life, the For Life Guarantee is null and void. However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted.


◦	For a surviving spouse who is a Covered Life, continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee. The For Life Guarantee is not a separate guarantee and only applies if the related GMWB has not terminated.


◦	If the surviving spouse is a Covered Life and a GWB adjustment provision is in force on the continuation date then the provision will continue to apply in accordance with the applicable GWB adjustment provision rules above. The GWB adjustment date will continue to be based on the original effective date of the endorsement or the youngest Covered Life's attained age, as applicable.

If the surviving spouse is not a Covered Life, any GWB adjustment is null and void.


◦	Step-Ups will continue as permitted in accordance with the Step-Up rules above.


◦	Contract Anniversaries will continue to be based on the original Contract's Issue Date.


◦	If the surviving spouse is a Covered Life, the GAWA percentage will continue to be calculated and/or recalculated based on the youngest Covered Life's attained age.


◦	If the surviving spouse is not a Covered Life and if the GAWA percentage has not yet been determined, the GAWA percentage will be based on the youngest Covered Life's attained age on the continuation date. The GAWA percentage will not change on future Step-Ups.

122


◦	The Latest Income Date is based on the age of the surviving spouse. Please refer to “Annuitization” subsection below for information regarding the additional Income Options available on the Latest Income Date.


◦	A new joint Owner may not be added in a non-qualified Contract if a surviving spouse continues the Contract.


•	Continue the Contract without this GMWB (GMWB is terminated) if the surviving spouse is not a Covered Life. Thereafter, no GMWB charge will be assessed. If the surviving spouse is a Covered Life, the Contract cannot be continued without this GMWB.


•	Add another GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the spousal Beneficiary's eligibility, and provided that this GMWB was terminated on the Continuation Date.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 128.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last monthly charge and all benefits cease on the earliest of:


•	The Income Date;


•	The date of complete withdrawal of Contract Value (full surrender of the Contract);

In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.


•	Conversion of this GMWB (if conversion is permitted);


•	The date of death of the Owner (or either joint Owner), unless the Beneficiary who is the Owner's spouse elects to continue the Contract with the GMWB (continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee if the surviving spouse is a Covered Life);


•	The Continuation Date on a Contract if the spousal Beneficiary, who is not a Covered Life, elects to continue the Contract without the GMWB; or


•	The date all obligations under this GMWB are satisfied after the Contract has been terminated.

Annuitization.

Specified Period Income of the GAWA. On the Latest Income Date if the For Life Guarantee is not in effect, the Owner may choose this income option instead of one of the other income options listed in the Contract. (This income option only applies if the GMWB has been continued by the spousal Beneficiary and the spousal Beneficiary is not a Covered Life in which case the spouse becomes the Owner of the Contract and the Latest Income Date is based on the age of the spouse.)

123


•	How the bonus is calculated;


•	What happens to the Bonus Base (and bonus) with a withdrawal, premium payment, and any Step-Up;


•	For how long the bonus is available; and


•	When and what happens when the bonus is applied to the GWB.



The bonus equals 6% of the Bonus Base, which is an amount that may vary after this GMWB is added to the Contract, as described immediately below.
	●	When this GMWB is added to the Contract, the Bonus Base equals the GWB.
	●	With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA and the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal. Otherwise, there is no adjustment to the Bonus Base with withdrawals.
			○	All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; and withdrawals of asset allocation and advisory fees.
			○	A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
	●	With a premium payment, the Bonus Base increases by the amount of the premium payment net of any applicable premium taxes.
	●	With any Step-Up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the Step-Up.

124



The Bonus Base can never be more than $5 million.
The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year. Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied. When the bonus is applied:
	●	The GWB is recalculated, increasing by 6% of the Bonus Base.
	●	If the Bonus is applied after the first withdrawal (in a prior year), the GAWA is then recalculated, equaling the greater of the GAWA percentage multiplied by the new GWB or the GAWA before the bonus.
Applying the bonus to the GWB does not affect the Bonus Base, GWB adjustment or BDB.
The Bonus is only available during the Bonus Period. The Bonus Period begins on the effective date of this GMWB endorsement. In addition, the Bonus Period will re-start at the time the Bonus Base increases due to a Step-Up so long as the Step-Up occurs on or before the Contract Anniversary immediately following the youngest Covered Life's 80^th birthday. (See example below.) The Bonus Period ends on the earlier of:
	●	The tenth Contract Anniversary following (1) the effective date of the endorsement or (2) the most recent increase to the Bonus Base due to a Step-Up, if later; or
	●	The date the Contract Value is zero.
The Bonus Base will continue to be calculated even after the Bonus Period expires. Therefore, it is possible for the Bonus Period to expire and then re-start on a later Contract Anniversary if the Bonus Base increases due to a Step-Up.
The purpose of the re-start provision is to extend the period of time over which the Owner is eligible to receive a bonus. For example, assume this GMWB was added to a Contract on December 1, 2009. At that time, the bonus period is scheduled to expire on December 1, 2019 (which is the tenth Contract Anniversary following the effective date of the endorsement). If a Step-Up increasing the Bonus Base occurs on the third Contract Anniversary following the effective date of the endorsement (December 1, 2012), and the youngest Covered Life is younger than age 80, the Bonus Period will re-start and will be scheduled to expire on December 1, 2022. Further, assuming that the next Bonus Base increase due to a Step-Up does not occur until December 1, 2024 (which is two years after the Bonus Period in this example expired) and that the youngest Covered Life is still younger than age 80 at that time, the Bonus Period would re-start on December 1, 2024, and would be scheduled to expire on December 1, 2034. (Please also see Examples 6 and 7 in Appendix B for more information regarding the re-start provision.)
Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract's Issue Date.

Systematic Withdrawal Program. You can arrange to have money automatically sent to you periodically while your Contract is still in the accumulation phase. You may withdraw a specified dollar amount (of at least $50 per withdrawal), a specified percentage or earnings. Your withdrawals may be on a monthly, quarterly, semi-annual or annual basis. If you have arranged for systematic withdrawals, schedule any planned Step-Up under a GMWB to occur prior to the withdrawal. Example 7 in Appendix B illustrates the consequences of a withdrawal preceding a Step-Up. There is no charge for the Systematic Withdrawal Program; however, you will have to pay taxes on money you receive. In addition, withdrawals you make before you reach 59 1/2 may be subject to a 10% tax penalty. You may also be subject to an interest rate adjustment.

We reserve the right to charge a fee for participation or to discontinue offering this program in the future.

Suspension of Withdrawals or Transfers. Jackson of NY may be required to suspend or delay withdrawals or transfers from an Investment Division when:


a)	the New York Stock Exchange is closed (other than customary weekend and holiday closings);

125


b)	under applicable SEC rules, trading on the New York Stock Exchange is restricted;


c)	under applicable SEC rules, an emergency exists so that it is not reasonably practicable to dispose of securities in an Investment Division or determine the value of its assets; or


d)	the SEC, by order, may permit for the protection of Contract Owners.

Jackson of NY has reserved the right to defer payment for a withdrawal or transfer from the Guaranteed Fixed Account for the period permitted by law, but not more than six months.

INCOME PAYMENTS (THE INCOME PHASE)

The income phase of your Contract occurs when you begin receiving regular income payments from us. The Income Date is the day those payments begin. Once income payments begin, the Contract cannot be returned to the accumulation phase. You can choose the Income Date and an income option. All of the Contract Value must be annuitized. The income options are described below.

If you do not choose an income option, we will assume that you selected option 3, which provides a life annuity with 120 months of guaranteed payments.

You can change the Income Date or income option at least 7 days before the Income Date. You must give us written notice at least 7 days before the scheduled Income Date. Income payments must begin by your 90th birthday under a non-qualified Contract, unless otherwise approved by the Company, or by such earlier date as required by the applicable qualified plan, law or regulation. However, if you have not yet attained or passed age 90, you may elect to change your Income Date to the Contract Anniversary on or next following your 95^th birthday. Additionally, if you already attained or passed age 90 as of April 6, 2009 and have not yet started receiving income payments, you may elect to change your Income Date to the Contract Anniversary on or next following your 100^th birthday.

Under a traditional Individual Retirement Annuity, required minimum distributions must begin in the calendar year in which you attain age 70 1/2 (or such other age as required by law). Distributions under qualified plans and Tax-Sheltered Annuities must begin by the later of the calendar year in which you attain age 70 1/2 or the calendar year in which you retire. You do not necessarily have to annuitize your Contract to meet the minimum distribution requirements for Individual Retirement Annuities, qualified plans, and Tax-Sheltered Annuities. Distributions from Roth IRAs are not required prior to your death.

At the Income Date, you can choose whether payments will come from the Guaranteed Fixed Account, the Investment Divisions or both. Unless you tell us otherwise, your income payments will be based on the guaranteed fixed and variable options that were in place on the Income Date.

You can choose to have income payments made monthly, quarterly, semi-annually, or annually. However, if you have less than $2,000 to apply toward an income option and state law permits, Jackson of NY may provide your payment in a single lump sum, part of which may be taxable as Federal Income. Likewise, if your first income payment would be less than $20 and state law permits, Jackson of NY may set the frequency of payments so that the first payment would be at least $20.

Income Payments from Investment Divisions. If you choose to have any portion of your income payments come from the Investment Division(s), the dollar amount of your payment will depend upon three things:


1.	the value of your Contract in the Investment Division(s) on the Income Date;


2.	the 4.5% assumed investment rate used in the annuity table for the Contract; and


3.	the performance of the Investment Divisions you selected.

Jackson of NY calculates the dollar amount of the first income payment that you receive from the Investment Divisions. We then use that amount to determine the number of annuity units that you hold in each Investment Division. The amount of each subsequent income payment is determined by multiplying the number of annuity units that you hold in an Investment Division by the annuity unit value for that Investment Division.

The number of annuity units that you hold in each Investment Division does not change unless you reallocate your Contract Value among the Investment Divisions. The annuity unit value of each Investment Division will vary based on the investment performance of the Fund. If the actual investment performance exactly matches the assumed rate at all times, the amount of each income payment

126

will remain equal. If the actual investment performance exceeds the assumed rate, your income payments will increase. Similarly, if the actual investment performance is less than the assumed rate, your income payments will decrease.

Income Options. The Annuitant is the person whose life we look to when we make income payments. The following income options are available:

Option 1 - Life Income. This income option provides monthly payments for the Annuitant's life. No further payments are payable after your death.

Option 2 - Joint and Survivor Annuity. This income option provides monthly payments for the Annuitant's life and for the life of another person. Upon the death of either person, the monthly payments will continue during the lifetime of the survivor. No further payments are payable after the death of the survivor.

Option 3 - Life Annuity With 120 or 240 Monthly Fixed Periods. This income option provides monthly payments for the Annuitant's life, but with payments continuing to the Beneficiary for the remainder of 10 or 20 years (as you select) if the Annuitant dies before the end of the selected period. If the Beneficiary does not want to receive the remaining scheduled payments, a single lump sum may be requested, which will be equal to the present value of the remaining payments (as of the date of calculation) discounted at an interest rate that will be no more than 1% higher than the rate used to calculate the initial payment.

Option 4 - Income for a Specified Period. This income option provides monthly payments for any number of years from 5 to 30. If the Beneficiary does not want to receive the remaining scheduled payments, a single lump sum may be requested, which will be equal to the present value of the remaining payments (as of the date of calculation) discounted at an interest rate that will be no more than 1% higher than the rate used to calculate the initial payment.

Additional Options - Other income options may be made available by Jackson of NY.

No withdrawals are permitted during the income phase under an income option that is life contingent.

DEATH BENEFIT

The death benefit paid to your Beneficiary upon your death is calculated as of the date we receive all required documentation which includes, but is not limited to, proof of death and a completed claim form from the Beneficiary of record (if there are multiple beneficiaries, we will calculate the death benefit when we receive this documentation from the first Beneficiary). The difference between the account value and the guaranteed minimum death benefit will be put into your account as of the date we receive completed claim forms and proof of death from the Beneficiary of record and will be allocated among investment options according to future allocations on file for your account as of that date. Each Beneficiary will receive their portion of the remaining value, subject to market fluctuations, when their option election form is received at our Lansing, Michigan Jackson of NY Service Center.

The effects of any GMWB on the amount payable to your beneficiaries upon your death should be considered before selecting a GMWB. Except as provided in certain of the GMWB endorsements, no death benefit will be paid upon your death in the event the Contract Value falls to zero. See the individual GMWB subsections earlier in this prospectus under “ACCESS TO YOUR MONEY” for information about how the GMWB endorsements work.

Death of Owner Before the Income Date. If you or any joint Owner dies before moving to the income phase, the person you have chosen as your Beneficiary will receive a death benefit. If you have a joint Owner, the death benefit will be paid when the first joint Owner dies, unless the joint Owner is the deceased Owner's spouse who elects to continue the Contract. The surviving joint Owner will be treated as the Beneficiary. Any other Beneficiary designated will be treated as a contingent Beneficiary. Jackson of NY may limit permissible joint Owners to spouses.

The death benefit is the greater of:


1.	the Contract Value at the end of the business day when we receive proof of death and a payment election at our Jackson of NY Service Center, or


2.	the total premiums paid prior to the death of the Owner, minus any withdrawals, charges, fees and premium taxes incurred, or


3.	the greatest anniversary value until the Owner's 81^st birthday. The anniversary value is defined as the Contract Value on the first day of each Contract Year, less any withdrawals since that anniversary.

127

The death benefit can be paid under one of the following death benefit options:


•	single lump sum payment; or


•	payment of entire death benefit within 5 years of the date of death; or

•

payment of the entire death benefit under an income option over the Beneficiary's lifetime or for a period not extending beyond the Beneficiary's life expectancy; or payment of a portion of the death benefit under an income option over the Beneficiary's lifetime or for a period not extending beyond the Beneficiary's life expectancy, with the balance of the death benefit payable to the Beneficiary.

Under these income options, the Beneficiary may also elect to receive additional lump sums at any time. The receipt of any additional lump sums will reduce the future income payments to the Beneficiary.

Unless the Beneficiary chooses to receive the death benefit in a single sum, the Beneficiary must elect an income option within the 60-day period beginning with the date Jackson of NY receives proof of death and payments must begin within one year of the date of death. If the Beneficiary chooses to receive some or all of the death benefit in a single sum and all the necessary requirements are met, Jackson of NY will pay the death benefit within 7 days. If the Beneficiary is your spouse, he/she can continue the Contract in his/her own name at the then current Contract Value.

As Owner, you may also make a predetermined selection of the death benefit option to be paid if your death occurs before the Income Date. If this Pre - selected Death Benefit Option Election is in force at the time of your death, the payment of the death benefit may not be postponed, nor can the Contract be continued under any other provisions of this Contract. This restriction applies even if the Beneficiary is your spouse, unless such restriction is prohibited by the Internal Revenue Code.

Special Spousal Continuation Option. If your spouse is the Beneficiary and elects to continue the Contract in his or her own name after your death, no death benefit will be paid at that time. Instead, we will contribute to the Contract a continuation adjustment, which is the amount by which the death benefit that would have been payable exceeds the Contract Value. We calculate this amount using the Contract Value and death benefit as of the date we receive complete forms and due proof of death from the Beneficiary of record and the spousal Beneficiary's written request to continue the Contract (the “Continuation Date”). We will add this amount to the Contract based on the allocation instructions at the time of your death, subject to any minimum allocation restrictions, unless we receive other allocation instructions from your spouse. The Special Spousal Continuation Option may not be available in your state or through the broker-dealer with which your financial advisor is affiliated. See your financial advisor for information regarding the availability of the Special Spousal Continuation Option.

If your spouse continues the Contract in his/her own name, the new Contract Value will be considered the initial premium for purposes of determining any future death benefit under the Contract. The age of the surviving spouse at the time of the continuation of the Contract will be used to determine all benefits under the Contract.

If your spouse elects to continue the Contract, your spouse, as new Owner, cannot terminate certain optional benefits you might have elected. The Contract, and its optional benefits, remains the same. Your spouse will also be subject to the same fees, charges and expenses under the Contract as you were.

A GMWB, however, will terminate upon your death (and no further GMWB charges will be deducted), unless your spouse is eligible for the benefit and elects to continue the Contract. Some GMWBs may be terminated by your spouse on the Continuation Date. For more information, please see the individual GMWB subsections earlier in this prospectus under “Access To Your Money.”

If you have elected the Pre - selected Death Benefit Option, the Contract cannot be continued under the Special Spousal Continuation Option, unless preventing continuation would be prohibited by the Internal Revenue Code.

Death of Owner On or After the Income Date. If you or a joint Owner die on or after the Income Date, and the Owner is not an Annuitant, any remaining payments under the income option elected will continue at least as rapidly as under the method of distribution in effect at the date of death. If you die, the Beneficiary becomes the Owner. If the joint Owner dies, the surviving joint Owner, if any, will be the designated Beneficiary. Any other Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary. A contingent Beneficiary is entitled to receive payment only after the Beneficiary dies.

Death of Annuitant. If the Annuitant is not an Owner or joint Owner and dies before the Income Date, you can name a new Annuitant, subject to our underwriting rules. If you do not name a new Annuitant within 30 days of the death of the Annuitant, you will become the Annuitant. However, if the Owner is a non-natural person (for example, a corporation), then the death of the Annuitant will be treated as the death of the Owner, and a new Annuitant may not be named.

128

If the Annuitant dies on or after the Income Date, any remaining payments will be as provided for in the income option selected. Any remaining payments will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.

TAXES

The following is only general information and is not intended as tax advice to any individual. Additional tax information is included in the SAI. You should consult your own tax adviser as to how these general rules will apply to you if you purchase a Contract.

CONTRACT OWNER TAXATION

Tax-Qualified and Non-Qualified Contracts. If you purchase the Contract as a part of a tax-qualified plan such as an Individual Retirement Annuity (IRA), Tax-Sheltered Annuity (sometimes referred to as 403(b) Contract), or pension or profit-sharing plan (including a 401(k) Plan or H.R. 10 Plan), your Contract will be what is referred to as a tax-qualified contract. Tax deferral under a tax-qualified contract arises under the specific provisions of the Internal Revenue Code (Code) governing the tax-qualified plan, so a tax-qualified contract should be purchased only for the features and benefits other than tax deferral that are available under a tax-qualified contract, and not for the purpose of obtaining tax deferral. You should consult your own adviser regarding these features and benefits of the Contract prior to purchasing a tax-qualified Contract.

If you do not purchase the Contract as a part of any tax-qualified pension plan, specially sponsored program or an individual retirement annuity, your Contract will be what is referred to as a non-qualified Contract.

The amount of your tax liability on the earnings under and the amounts received from either a tax-qualified or a non-qualified contract will vary depending on the specific tax rules applicable to your Contract and your particular circumstances.

Non-Qualified Contracts – General Taxation. Increases in the value of a non-qualified Contract attributable to undistributed earnings are generally not taxable to the Contract Owner or the Annuitant until a distribution (either as a withdrawal, including withdrawals under any GMWB you may elect, or as an income payment) is made from the Contract. This tax deferral is generally not available under a non-qualified Contract owned by a non-natural person (e.g., corporation or certain other entities other than a trust holding the Contract as an agent for a natural person). Also loans based on a non-qualified Contract are treated as distributions.

Non-Qualified Contracts – Aggregation of Contracts. For purposes of determining the taxability of a distribution, the Code provides that all non-qualified contracts issued by us (or an affiliate) to you during any calendar year must be treated as one annuity contract. Additional rules may be promulgated under this Code provision to prevent avoidance of its effect through the ownership of serial contracts or otherwise.

Non-Qualified Contracts – Withdrawals and Income Payments. Any withdrawal from a non-qualified Contract, including withdrawals under any GMWB you may elect, is taxable as ordinary income to the extent it does not exceed the accumulated earnings under the Contract. In contrast, a part of each income payment under a nonqualified Contract is generally treated as a non-taxable return of premium. The balance of each income payment is taxable as ordinary income. The amounts of the taxable and non-taxable portions of each income payment are determined based on the amount of the investment in the Contract and the length of the period over which income payments are to be made. Income payments received after you have received all of your investment in the Contract is recovered are fully taxable as ordinary income. Additional information is provided in the SAI.

The Code also imposes a 10% penalty on certain taxable amounts received under a non-qualified Contract. This penalty tax will not apply to any amounts: (1) paid on or after the taxpayer reaches age 59 1/2; (2) paid to your Beneficiary after you die; (3) paid if the recipient becomes totally disabled (as that term is defined in the Code); (4) paid in a series of substantially equal periodic payments made annually (or more frequently) for life or a period not exceeding life expectancy of the recipient or of the recipient and a Beneficiary; (5) paid under an immediate annuity; or (6) which come from premiums made prior to August 14, 1982.

Beginning in 2013, the taxable portion of distributions from a non-qualified annuity Contract will be considered investment income for purposes of the new Medicare tax on investment income. As a result, a 3.8% tax will generally apply to some or all of the taxable portion of distributions to individuals whose modified adjusted gross income exceeds certain threshold amounts. These levels are $200,000 in the case of single taxpayers, $250,000 in the case of married taxpayers filing joint returns, and $125,000 in the case of married taxpayers filing separately. Owners should consult their own tax advisers for more information.

129

Non-Qualified Contracts – Required Distributions. In order to be treated as an annuity contract for federal income tax purposes, the Code requires any nonqualified contract issued after January 18, 1985 to provide that (a) if an Owner dies on or after the annuity starting date but prior to the time the entire interest in the contract has been distributed, the remaining portion of such interest will be distributed at least as rapidly as under the method of distribution being used as of the date of that Owner's death; and (b) if an Owner dies prior to the annuity starting date, the entire interest in the contract must be distributed within five years after the date of the Owner's death.

The requirements of (b) above can be considered satisfied if any portion of the Owner's interest which is payable to or for the benefit of a “designated Beneficiary” is distributed over the life of such Beneficiary or over a period not extending beyond the life expectancy of that Beneficiary and such distributions begin within one year of that Owner's death. The Owner's “designated Beneficiary,” who must be a natural person, is the person designated by such Owner as a Beneficiary and to whom ownership of the Contract passes by reason of death. However, if the Owner's “designated Beneficiary” is the surviving spouse of the Owner, the contract may be continued with the surviving spouse as the new Owner.

Tax-Qualified Contracts – Withdrawals and Income Payments. The Code imposes limits on loans, withdrawals, and income payments under tax-qualified Contracts. The Code also imposes minimum distribution requirements for tax-qualified Contracts and a 10% penalty on certain taxable amounts received prematurely under a tax-qualified Contract. These limits, required minimum distributions, tax penalties and the tax computation rules are summarized in the SAI. Any withdrawals under a tax-qualified Contract, including withdrawals under any GMWB you may elect, will be taxable except to the extent they are allocable to an investment in the Contract (any after-tax contributions). In most cases, there will be little or no investment in the Contract for a tax-qualified Contract because contributions will have been made on a pre-tax or tax-deductible basis.

Withdrawals – Tax-Sheltered Annuities. The Code limits the withdrawal of amounts attributable to purchase payments made under a salary reduction agreement from Tax-Sheltered Annuities. Withdrawals can only be made when an Owner: (1) reaches age 59 1/2; (2) leaves his/her job; (3) dies; (4) becomes disabled (as that term is defined in the Code); or (5) experiences hardship. However, in the case of hardship, the Owner can only withdraw the premium and not any earnings.

Withdrawals – Roth IRAs. Subject to certain limitations, individuals may also purchase a new type of non-deductible IRA annuity, known as a Roth IRA annuity. Qualified distributions from Roth IRA annuities are entirely federal income tax free. A qualified distribution requires that the individual has held the Roth IRA annuity for at least five years and, in addition, that the distribution is made either after the individual reaches age 59 1/2, on account of the individual's death or disability, or as qualified first-time home purchase, subject to a $10,000 lifetime maximum, for the individual or for a spouse, child, grandchild, or ancestor.

Constructive Withdrawals – Investment Adviser Fees. Withdrawals from non-qualified Contracts for the payment of investment adviser fees will be considered taxable distributions from the Contract. In a series of Private Letter Rulings, however, the Internal Revenue Service has held that the payment of investment adviser fees from a tax-qualified Contract need not be considered a distribution for income tax purposes. Under the facts in these Rulings: (i) there was a written agreement providing for payments of the fees solely from the annuity Contract, (ii) the Contract Owner had no liability for the fees and (iii) the fees were paid solely from the annuity Contract to the adviser.

Extension of Latest Income Date. If you do not annuitize your non-qualified Contract on or before the latest Income Date, it is possible that the IRS could challenge the status of your Contract as an annuity Contract for tax purposes. The result of such a challenge could be that you would be viewed as either constructively receiving the increase in the account value each year from the inception of the Contract or the entire increase in the account value would be taxable in the year of your Latest Income Date. In either situation, you could realize taxable income even if the Contract proceeds are not distributed to you at that time. Accordingly, before purchasing a Contract, you should consult your tax advisor with respect to these issues.

Death Benefits. None of the death benefits paid under the Contract are taxable to the Beneficiary will be tax-exempt life insurance benefits. The rules governing the taxation of payments from an annuity Contract, as discussed above, generally apply to the payment of death benefits and depend on whether the death benefits are paid as a lump sum or as annuity payments. Estate or gift taxes may also apply.

IRS Approval. The Contract, and all riders attached thereto, have been approved by the IRS for use as an Individual Retirement Annuity prototype.

Assignment. An assignment of a Contract will generally be a taxable event. Assignments of a tax-qualified Contract may also be limited by the Code and the Employee Retirement Income Security Act of 1974, as amended. These limits are summarized in the SAI. You should consult your tax adviser prior to making any assignment of a Contract.

130

Diversification. The Code provides that the underlying investments for a non-qualified variable annuity must satisfy certain diversification requirements in order to be treated as an annuity Contract. Jackson of NY believes that the underlying investments are being managed so as to comply with these requirements. A fuller discussion of the diversification requirements is contained in the SAI.

Owner Control. In a Revenue Ruling issued in 2003, the Internal Revenue Service (IRS) considered certain variable annuity and variable life insurance contracts and held that the types of actual and potential control that the Contract Owners could exercise over the investment assets held by the insurance company under these variable contracts was not sufficient to cause the Contract Owners to be treated as the owners of those assets and thus to be subject to current income tax on the income and gains produced by those assets. Under the Contract, like the contracts described in the Revenue Ruling, there will be no arrangement, plan, contract or agreement between the Contract Owner and Jackson of NY regarding the availability of a particular investment option and other than the Contract Owner's right to allocate premiums and transfer funds among the available sub-accounts, all investment decisions concerning the sub-accounts will be made by the insurance company or an advisor in its sole and absolute discretion.

The Contract will differ from the contracts described in the Revenue Ruling, in two respects. The first difference is that the contract in the Revenue Ruling provided only 12 investment options with the insurance company having the ability to add an additional 8 options whereas a Contract currently offers 103 Investment Divisions and at least one Guaranteed Fixed Account option, and, if more than 99 options are offered, a Contract Owner's Contract Value can be allocated to no more than 99 fixed and variable options at any one time. The second difference is that the owner of a contract in the Revenue Ruling could only make one transfer per 30-day period without a fee whereas during the accumulation phase, a Contract Owner will be permitted to make up to 15 transfers in any one year without a charge.

The Revenue Ruling states that whether the owner of a variable contract is to be treated as the owner of the assets held by the insurance company under the contract will depend on all of the facts and circumstances. Jackson of NY does not believe that the differences between the Contract and the contracts described in the Revenue Ruling with respect to the number of investment choices and the number of investment transfers that can be made under the contract without an additional charge should prevent the holding in the Revenue Ruling from applying to the Owner of a Contract. At this time, however, it cannot be determined whether additional guidance will be provided by the IRS on this issue and what standards may be contained in such guidance. We reserve the right to modify the Contract to the extent required to maintain favorable tax treatment.

Withholding. In general, the income portion of distributions from a Contract are subject to 10% federal income tax withholding and the income portion of income payments are subject to withholding at the same rate as wages unless you elect not to have tax withheld. Some states have enacted similar rules. Different rules may apply to payments delivered outside the United States.

Eligible rollover distributions from a Contract issued under certain types of tax-qualified plans will be subject to federal tax withholding at a mandatory 20% rate unless the distribution is made as a direct rollover to a tax-qualified plan or to an individual retirement account or annuity.

The Code generally allows the rollover of most distributions to and from tax-qualified plans, tax-sheltered annuities, Individual Retirement Annuities and eligible deferred compensation plans of state or local governments. Distributions which may not be rolled over are those which are:


(a)	one of a series of substantially equal annual (or more frequent) payments made (a) over the life or life expectancy of the employee, (b) the joint lives or joint life expectancies of the employee and the employee's beneficiary, or (c) for a specified period of ten years or more;


(b)	a required minimum distribution; or


(c)	a hardship withdrawal.

JACKSON OF NY TAXATION

We will pay company income taxes on the taxable corporate earnings created by this separate account product adjusted for various permissible deductions and certain tax benefits discussed below. While we may consider company income tax liabilities and tax benefits when pricing our products, we do not currently include our income tax liabilities in the charges you pay under the contract. We will periodically review the issue of charging for these taxes and may impose a charge in the future. (We do impose a so-called “Federal (DAC) Tax Charge” under variable life insurance policies, but the “Federal (DAC) Tax Charge” merely compensates us for the required deferral of acquisition cost and does not constitute company income taxes.)

131

In calculating our corporate income tax liability, we derive certain corporate income tax benefits associated with the investment of company assets, including separate account assets that are treated as company assets under applicable income tax law. These benefits reduce our overall corporate income tax liability. Under current law, such benefits may include dividends received deductions and foreign tax credits which can be material. We do not pass these benefits through to the separate accounts, principally because: (i) the great bulk of the benefits results from the dividends received deduction, which involves no reduction in the dollar amount of dividends that the separate account receives; (ii) product owners are not the owners of the assets generating the benefits under applicable income tax law; and (iii), while we impose a so-called “Federal (DAC) tax charge” under variable life insurance policies, we do not currently include company income taxes in the charges owners pay under the products.

OTHER INFORMATION

Dollar Cost Averaging. You can arrange to have a regular amount of money periodically transferred automatically into the Investment Divisions and the other Guaranteed Fixed Account options from the one-year Guaranteed Fixed Account or any of the other Investment Divisions. If the Guaranteed Fixed Account options are not available or otherwise restricted, dollar cost averaging will be exclusively from the Investment Divisions. This theoretically gives you a lower average cost per unit for the Investment Divisions over time than you would receive if you made a one-time purchase. The more volatile Investment Divisions may not result in lower average costs and such divisions may not be an appropriate source of dollar cost averaging transfers in volatile markets. Certain restrictions may apply. Dollar Cost Averaging and Rebalancing are mutually exclusive, you cannot select both.

Earnings Sweep. You can choose to move your earnings from the source accounts (only applicable from the one-year Guaranteed Fixed Account option, if currently available, and the JNL/WMC Government Money Market Fund). There is no charge for Earnings Sweep.

Rebalancing. You can arrange to have Jackson of NY automatically reallocate your Contract Value among Investment Divisions periodically to maintain your selected allocation percentages. Rebalancing is consistent with maintaining your allocation of investments among market segments, although it is accomplished by reducing your Contract Value allocated to the better performing Investment Divisions. Dollar Cost Averaging and Rebalancing are mutually exclusive, and you cannot select both.

Jackson of NY does not currently charge for participation in this program. We may do so in the future.

Free Look. You may return your Contract to the selling agent or to Jackson of NY within 20 days after receiving it. Jackson of NY will return the Contract Value in the Investment Divisions plus any fees and expenses deducted from the premium prior to allocation to the Investment Divisions plus the full amount of premium you allocated to the Guaranteed Fixed Account, minus any withdrawals from the Guaranteed Fixed Account (if available). We will determine the Contract Value in the Investment Divisions as of the date we receive the Contract or the date you return it to the selling agent. Jackson of NY will return premium payments where required by law.

Advertising. From time to time, Jackson of NY may advertise several types of performance for the Investment Divisions.


•	Total return is the overall change in the value of an investment in an Investment Division over a given period of time.


•	Standardized average annual total return is calculated in accordance with SEC guidelines.


•	Non-standardized total return may be for periods other than those required or may otherwise differ from standardized average annual total return. For example, if a Fund has been in existence longer than the Investment Division, we may show non-standardized performance for periods that begin on the inception date of the Fund, rather than the inception date of the Investment Division.


•	Yield refers to the income generated by an investment over a given period of time.

Performance will be calculated by determining the percentage change in the value of an Accumulation Unit by dividing the increase (decrease) for that unit by the value of the Accumulation Unit at the beginning of the period. Performance will reflect the deduction of the insurance charges and may reflect the deduction of the annual contract maintenance charge. The deduction of the annual contract maintenance charge would reduce the percentage increase or make greater any percentage decrease.

Modification of the Contract. Only the President, Vice President, Secretary or Assistant Secretary of Jackson of NY may approve a change to or waive a provision of the Contract. Any change or waiver must be in writing. Jackson of NY may change the terms of the Contract in order to comply with changes in applicable law, or otherwise as deemed necessary by Jackson of NY.

132

Confirmation of Transactions. We will send you a written statement confirming that a financial transaction, such as a premium payment, withdrawal, or transfer has been completed. This confirmation statement will provide details about the transaction. Certain transactions which are made on a periodic or systematic basis will be confirmed in a quarterly statement only.

It is important that you carefully review the information contained in the statements that confirm your transactions. If you believe an error has occurred you must notify us in writing within 30 days of receipt of the statement so we can make any appropriate adjustments. If we do not receive notice of any such potential error, we may not be responsible for correcting the error.

Legal Proceedings. Jackson National Life Insurance Company (Jackson of NY's parent) and its subsidiaries are defendants in class actions and a number of civil proceedings arising in the ordinary course of business. We do not believe at the present time that any pending action or proceeding will have a material adverse effect upon the Separate Account, Jackson of NY’s ability to meet its obligations under the Contracts, or Jackson National Life Distributors LLC’s ability to perform its contract with the Separate Account.

TABLE OF CONTENTS OF

THE STATEMENT OF ADDITIONAL INFORMATION



General Information and History
Services
Purchase of Securities Being Offered
Underwriters
Calculation of Performance
Additional Tax Information
Annuity Provisions
Net Investment Factors
Financial Statements of the Separate Account
Financial Statement of Jackson of NY

133

APPENDIX A

TRADEMARKS, SERVICE MARKS, AND RELATED DISCLOSURES

“JNL^®,” “Jackson National^®,” “Jackson^®,” “Jackson of NY^®” and “Jackson National Life Insurance Company of New York^®” are trademarks of Jackson National Life Insurance Company^®.

The “S&P 500 Index,” “S&P MidCap 400 Index,” “S&P SmallCap 600 Index,” “Dow Jones Industrial Average,” and “The Dow 10,” “Dow Jones Brookfield Global Infrastructure Index,” “STANDARD & POOR’S^®,” “S&P^®,” “S&P 500^®,” “S&P MIDCAP 400 Index^®,” “STANDARD & POOR’S MIDCAP 400 Index^®,” “S&P SmallCap 600 Index^®” and “STANDARD & POOR’S 500^®” (collectively, the “Indices”) are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Jackson National Life Insurance Company (“Jackson”). “Dow Jones^®”, “Dow Jones Industrial Average”, “DJIA^®”, “The Dow^®” and “The Dow^® 10” are service and/or trademarks of Dow Jones Trademark Holdings, LLC (“Dow Jones”) and have been licensed to SPDJI and have been sub-licensed for use for certain purposes by Jackson National Life Insurance Company^® (“Jackson”).

The Dow Jones Brookfield Global Infrastructure Index is calculated by SPDJI pursuant to an agreement with Brookfield Redding, Inc. (together with its affiliates, “Brookfield”) and has been licensed for use. Standard & Poor’s^®, S&P^® and S&P 500^®, S&P MidCap 400^® and S&P SmallCap 600^® are registered trademarks of Standard & Poor’s Financial Services LLC; Brookfield^® is a registered trademark of Brookfield Asset Management, Inc.; and the foregoing trademarks have been licensed by SPDJI for use.

The JNL/Mellon Capital S&P^® SMid 60 Fund, JNL/Mellon Capital JNL 5 Fund, JNL/Mellon Capital S&P 500 Index Fund, JNL/Mellon S&P 400 MidCap Index Fund, JNL/Mellon Capital Small Cap Index Fund, JNL/Mellon Capital Dow ^SM Index Fund, and JNL/Brookfield Global Infrastructure and MLP Fund (collectively, the “Products”) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, Standard & Poor’s Financial Services LLC, Brookfield or any of their respective affiliates (collectively, “S&P Dow Jones Indices”).

S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Products or any member of the public regarding the advisability of investing in securities generally or in the Products particularly or the ability of the Indices to track general market performance. S&P Dow Jones Indices’ only relationship to Jackson with respect to the Indices or the Products is the licensing of the Indices and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The Indices are determined, composed and calculated by S&P Dow Jones Indices without regard to Jackson or the Products. S&P Dow Jones Indices have no obligation to take the needs of Jackson or the owners of the Products into consideration in determining, composing or calculating the Indices. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of the Products or the timing of the issuance or sale of the Products in the determination or calculation of the equation by which the Products are to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing or trading of the Products. There is no assurance that investment products based on the Indices will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice. Notwithstanding the foregoing, CME Group Inc. and its affiliates may independently issue and/or sponsor financial products unrelated to Products currently being issued by Jackson , but which may be similar to and competitive with Products. In addition, CME Group Inc. and its affiliates may trade financial products which are linked to the performance of the Index.

Dow Jones, SPDJI and their respective affiliates do not:


•	Sponsor, endorse, sell or promote the Products.


•	Recommend that any person invest in the Products.


•	Have any responsibility or liability for or make any decisions about the timing, amount or pricing of the Products.


•	Have any responsibility or liability for the administration, management or marketing of the Products.


•	Consider the needs of the Products or the owners of the Products in determining, composing or calculating the Indexes or have any obligation to do so.



Dow Jones, SPDJI and their respective affiliates will not have any liability in connection with the Products. Specifically,
• Dow Jones, SPDJI and their respective affiliates do not make any warranty, express or implied, and Dow Jones, SPDJI and their respective affiliates disclaim any warranty about:

A-1



	• The results to be obtained by the Products, the owners of the Products or any other person in connection with the use of the DJIA and the data included in the Indexes;
	• The accuracy or completeness of the Indexes and its data;
	• The merchantability and the fitness for a particular purpose or use of the Indexes and its data;
• Dow Jones, SPDJI and/or their respective affiliates will have no liability for any errors, omissions or interruptions in the Indexes or its data;
• Under no circumstances will Dow Jones, SPDJI and/or their respective affiliates be liable for any lost profits or indirect, punitive, special or consequential damages or losses, even if they know that they might occur.
The licensing agreement relating to the use of the Indexes and trademarks referred to above by Jackson and SPDJI is solely for the benefit of the Products and not for any other third parties.

S&P DOW JONES INDICES DO NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS IN CALCULATING THE INDICES. S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY JACKSON OR OWNERS OF THE PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND JACKSON, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

SPDR^® is a registered trademark of Standard & Poor’s Financial Services LLC.

The following applies to the JNL/S&P Managed Growth Fund, JNL/S&P Managed Conservative Fund, JNL/S&P Managed Moderate Growth Fund, JNL/S&P Managed Moderate Fund, JNL/S&P Managed Aggressive Growth Fund, JNL/S&P Competitive Advantage Fund, JNL/S&P Dividend Income & Growth Fund, JNL/S&P Total Yield Fund, JNL/S&P Intrinsic Value Fund, JNL/S&P Mid 3 Fund and JNL/S&P 4 Fund. .,

STANDARD & POOR’S ^® , S&P ^® , S&P 500 ^® and, S&P MIDCAP 400 ^® are registered trademarks of S&P Global Market Intelligence Inc. or its affiliates and have been licensed for use by Jackson National Life Insurance Company. Standard & Poor’s Investment Advisory Services LLC (“SPIAS”) is a part of S&P Global Market Intelligence. Certain portfolios herein are sub-advised by SPIAS, a registered investment adviser and a wholly owned subsidiary of S&P Global Inc. SPIAS does not provide advice to underlying clients of the firms to which it provides services. SPIAS does not act as a “fiduciary” or as an “investment manager,” as defined under ERISA, to any investor. SPIAS is not responsible for client suitability.

Programs and products of the firms to which SPIAS provides services are not endorsed, sold or promoted by SPIAS and its affiliates, and SPIAS and its affiliates make no representation regarding the advisability of investing in those programs and products. With respect to the asset allocations and investments recommended by SPIAS in this document, investors should realize that such information is provided to Jackson National Asset Management, LLC only as a general recommendation. There is no agreement or understanding whatsoever that SPIAS will provide individualized advice to any investor. The underlying funds of the JNL/S&P 4 Fund are sub-advised by SPIAS. SPIAS does not sub-advise the JNL/S&P 4 Fund. SPIAS does not take into account any information about any investor or any investor’s assets when providing investment advisory services to firms to which SPIAS provides services. SPIAS does not have any discretionary authority or control with respect to purchasing or selling securities or making other investments. Individual investors should ultimately rely on their own judgment and/or the judgment of a representative in making their investment decisions.

A-2

from the use of the Content, or for the security or maintenance of any data input by the user. The Content is provided on an “as is” basis. S&P GLOBAL PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM BUGS, SOFTWARE ERRORS OR DEFECTS, THAT THE CONTENT’S FUNCTIONING WILL BE UNINTERRUPTED OR THAT THE CONTENT WILL OPERATE WITH ANY SOFTWARE OR HARDWARE CONFIGURATION. In no event shall S&P Global Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of the Content even if advised of the possibility of such damages.

While SPIAS has obtained information from sources it believes to be reliable, SPIAS does not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives.

S&P Global keeps certain activities of its divisions separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain divisions of S&P Global may have information that is not available to other S&P Global divisions. S&P Global has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process.

S&P Global Ratings does not contribute to or participate in the provision of investment advice. S&P Global Ratings may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S&P Global reserves the right to disseminate its opinions and analyses. S&P Global's public ratings and analyses are made available on its Web sites, www.standardandpoors.com (free of charge), and www.ratingsdirect.com and www.globalcreditportal.com (subscription), and may be distributed through other means, including via S&P Global publications and third-party redistributors. Additional information about our ratings fees is available at www.standardandpoors.com/usratingsfees.

S&P Global Market Intelligence and its affiliates provide a wide range of services to, or relating to, many organizations, including issuers of securities, investment advisers, broker-dealers, investment banks, other financial institutions and financial intermediaries, and accordingly may receive fees or other economic benefits from those organizations, including organizations whose securities or services they may recommend, rate, include in model portfolios, evaluate or otherwise address. SPIAS may consider research and other information from affiliates in making its investment recommendations.

SPIAS may consider research and other information from affiliates in making its investment recommendations. The investment policies of certain model portfolios specifically state that among the information SPIAS will consider in evaluating a security are the credit ratings assigned by S&P Global Ratings. SPIAS does not consider the ratings assigned by other credit rating agencies. Credit rating criteria and scales may differ among credit rating agencies. Ratings assigned by other credit rating agencies may reflect more or less favorable opinions of creditworthiness than ratings assigned by S&P Global Ratings.

The Funds are not sponsored, endorsed, sold or promoted by S&P and its affiliates and S&P and its affiliates make no representation regarding the advisability of investing in the Funds.

Goldman Sachs is a registered service mark of Goldman, Sachs & Co.

DoubleLine is a registered service mark of DoubleLine Capital LP.

The Product(s) is not sponsored, endorsed, sold or promoted by The Nasdaq Stock Market, Inc. (including its affiliates) (Nasdaq, with its affiliates, are referred to as the Corporations). The Corporations have not passed on the legality or suitability of or the accuracy or adequacy of descriptions and disclosures relating to the Product(s). The Corporations make no representation or warranty, express or implied to the Owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Nasdaq-100 Index^® to track general stock market performance. The Corporations’ only relationship to Jackson (Licensee) is in the licensing of the Nasdaq-100^®, Nasdaq-100 Index^® and Nasdaq^® trademarks or service marks, and certain trade names of the Corporations and the use of the Nasdaq-100 Index^® which is determined, composed and calculated by Nasdaq without regard to Licensee or the Product(s). Nasdaq has no obligation to take the needs of the Licensee or the Owners of the Product(s) into consideration in determining, composing or calculating the Nasdaq-100 Index^®. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF THE NASDAQ-100 INDEX^® OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S) OR ANY OTHER

A-3

PERSON OR ENTITY FROM THE USE OF THE NASDAQ-100 INDEX^® OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ-100 INDEX^® OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

“The Nasdaq-100^®,” “Nasdaq-100 Index^®,” “Nasdaq Stock Market^®” and “Nasdaq^®” are trade or service marks of The Nasdaq, Inc. (which with its affiliates are the “Corporations”) and have been licensed for use by Jackson. The Corporations have not passed on the legality or suitability of the JNL/Mellon Capital Nasdaq^® 100 Fund. The JNL/Mellon Capital Nasdaq^® 100 Fund is not issued, endorsed, sponsored, managed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE JNL/MELLON CAPITAL NASDAQ^® 100 FUND.

Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell is a trademark of Russell Investment Group.

JNL/Mellon Capital Small Cap Index Fund is not promoted, sponsored or endorsed by, nor in any way affiliated with Russell Investment Group (“Russell”). Russell is not responsible for and has not reviewed JNL/Mellon Capital Small Cap Index Fund nor any associated literature or publications and Russell makes no representation or warranty, express or implied, as to their accuracy, or completeness, or otherwise.

Russell reserves the right, at any time and without notice, to alter, amend, terminate or in any way change the Russell Indexes. Russell has no obligation to take the needs of any particular fund or its participants or any other product or person into consideration in determining, composing or calculating any of the Russell Indexes.

Russell’s publication of the Russell Indexes in no way suggests or implies an opinion by Russell as to the attractiveness or appropriateness of investment in any or all securities upon which the Russell Indexes are based. RUSSELL MAKES NO REPRESENTATION, WARRANTY, OR GUARANTEE AS TO THE ACCURACY COMPLETENESS, RELIABILITY, OR OTHERWISE OF THE RUSSELL INDEXES. RUSSELL MAKES NO REPRESENTATION, WARRANTY OR GUARANTEE REGARDING THE USE, OR THE RESULTS OF USE, OF THE RUSSELL INDEXES OR ANY DATA INCLUDED THEREIN, OR ANY SECURITY (OR COMBINATION THEREOF) COMPRISING THE RUSSELL INDEXES. RUSSELL MAKES NO OTHER EXPRESS OR IMPLIED WARRANTY, AND EXPRESSLY DISCLAIMS ANY WARRANTY, OF ANY KIND, INCLUDING WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE RUSSELL INDEX(ES) OR ANY DATA OR ANY SECURITY (OR COMBINATION THEREOF) INCLUDED THEREIN.

A-4

TRADEMARKS, SERVICE MARKS AND TRADE NAMES AND OF THE MSCI INDEXES WHICH ARE DETERMINED, COMPOSED AND CALCULATED BY MSCI WITHOUT REGARD TO THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND , THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, OR THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, ANY OTHER PERSON OR ENTITY, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND. NONE OF THE MSCI PARTIES HAS ANY OBLIGATION TO TAKE THE NEEDS OF THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY INTO CONSIDERATION IN DETERMINING, COMPOSING OR CALCULATING THE MSCI INDEXES. NONE OF THE MSCI PARTIES IS RESPONSIBLE FOR OR HAS PARTICIPATED IN THE DETERMINATION OF THE TIMING OF, PRICES AT, OR QUANTITIES OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND TO BE ISSUED OR IN THE DETERMINATION OR CALCULATION OF THE EQUATION BY OR THE CONSIDERATION INTO WHICH THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND IS REDEEMABLE. FURTHER, NONE OF THE MSCI PARTIES HAS ANY OBLIGATION OR LIABILITY TO THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY IN CONNECTION WITH THE ADMINISTRATION, MARKETING OR OFFERING OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND.

A-5

MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND, OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND, OR ANY OTHER PERSON OR ENTITY, FROM THE USE OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. NONE OF THE MSCI PARTIES SHALL HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS OF OR IN CONNECTION WITH ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. FURTHER, NONE OF THE MSCI PARTIES MAKES ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND, AND THE MSCI PARTIES HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO EACH MSCI INDEX AND ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Barclays Capital Inc. and its affiliates ("Barclays") is not the issuer or producer of JNL/DoubleLine ^® Shiller Enhanced CAPE ^® Fund and Barclays has no responsibilities, obligations or duties to investors in JNL/DoubleLine Shiller Enhanced CAPE Fund. The Shiller Barclays CAPE™ US Sector ER USD Index is a trademark owned by Barclays Bank PLC and licensed for use by JNL Series Trust ("JNLST") as the Issuer of JNL/DoubleLine Shiller Enhanced CAPE Fund. Barclays only relationship with the Issuer in respect of Shiller Barclays CAPE US Sector ER USD Index is the licensing of the Shiller Barclays CAPE US Sector ER USD Index which is determined, composed and calculated by Barclays without regard to the Issuer or the JNL/DoubleLine Shiller Enhanced CAPE Fund or the owners of the JNL/DoubleLine Shiller Enhanced CAPE Fund. Additionally, JNLST or JNL/DoubleLine Shiller Enhanced CAPE Fund may for itself execute transaction(s) with Barclays in or relating to the Shiller Barclays CAPE US Sector ER USD Index in connection with JNL/DoubleLine Shiller Enhanced CAPE Fund investors acquire JNL/DoubleLine Shiller Enhanced CAPE Fund from JNLST and investors neither acquire any interest in Shiller Barclays CAPE US Sector ER USD Index nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in JNL/DoubleLine Shiller Enhanced CAPE Fund. The JNL/DoubleLine Shiller Enhanced CAPE Fund is not sponsored, endorsed, sold or promoted by Barclays. Barclays does not make any representation or warranty, express or implied regarding the advisability of investing in the JNL/DoubleLine Shiller Enhanced CAPE Fund or the advisability of investing in securities generally or the ability of the Shiller Barclays CAPE US Sector ER USD Index to track corresponding or relative market performance. Barclays has not passed on the legality or suitability of the JNL/DoubleLine Shiller Enhanced CAPE Fund with respect to any person or entity. Barclays is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the JNL/DoubleLine Shiller Enhanced CAPE Fund to be issued. Barclays has no obligation to take the needs of the Issuer or the owners of the JNL/DoubleLine Shiller Enhanced CAPE Fund or any other third party into consideration in determining, composing or calculating the Shiller Barclays CAPE US Sector ER USD Index Barclays has no obligation or liability in connection with administration, marketing or trading of the JNL/DoubleLine Shiller Enhanced CAPE Fund.

The licensing agreement between JNLST and Barclays is solely for the benefit of JNLST and Barclays and not for the benefit of the owners of the JNL/DoubleLine Shiller Enhanced CAPE Fund, investors or other third parties.

BARCLAYS SHALL HAVE NO LIABILITY TO THE ISSUER, INVESTORS OR TO OTHER THIRD PARTIES FOR THE QUALITY, ACCURACY AND/OR COMPLETENESS OF THE Shiller Barclays CAPE US Sector ER USD Index OR ANY DATA INCLUDED THEREIN OR FOR INTERRUPTIONS IN THE DELIVERY OF THE Shiller Barclays CAPE US Sector ER USD Index. BARCLAYS MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ISSUER, THE INVESTORS OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE Shiller Barclays CAPE US Sector ER USD Index OR ANY DATA INCLUDED THEREIN. BARCLAYS MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE Shiller Barclays CAPE US Sector ER USD Index OR ANY DATA INCLUDED THEREIN. BARCLAYS RESERVES THE RIGHT TO CHANGE THE METHODS OF CALCULATION OR PUBLICATION, OR TO CEASE THE CALCULATION OR PUBLICATION OF THE Shiller Barclays CAPE US Sector ER USD Index, AND BARCLAYS SHALL NOT BE LIABLE FOR ANY MISCALCULATION OF OR ANY INCORRECT, DELAYED OR INTERRUPTED PUBLICATION WITH RESPECT TO ANY OF THE Shiller Barclays CAPE US Sector ER USD Index BARCLAYS SHALL NOT BE LIABLE FOR ANY DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY LOST PROFITS AND EVEN IF ADVISED OF THE POSSIBILITY OF SUCH, RESULTING FROM THE USE OF THE Shiller Barclays CAPE US Sector ER USD

A-6

Index OR ANY DATA INCLUDED THEREIN OR WITH RESPECT TO THE JNL/DOUBLELINE SHILLER ENHANCED CAPE FUND.

None of the information supplied by Barclays Bank PLC and used in this publication may be reproduced in any manner without the prior written permission of Barclays Capital, the investment banking division of Barclays Bank PLC. Barclays Bank PLC is registered in England No. 1026167. Registered office 1 Churchill Place London E l 4 5HP.

A-7

APPENDIX B

GMWB PROSPECTUS EXAMPLES

Unless otherwise specified, the following examples assume you elected a GMWB with a 5% benefit when you purchased your Contract, no other optional benefits were elected, your initial premium payment was $100,000, your GAWA is greater than your RMD (if applicable) at the time a withdrawal is requested, and all partial withdrawals requested include any applicable charges, no prior partial withdrawals have been made, and the bonus percentage (if applicable) is 7%. The examples also assume that the GMWB and any For Life Guarantee have not been terminated as described in the Access to Your Money section of this prospectus. If you elected a GMWB other than a GMWB with a 5% benefit, the examples will still apply, given that you replace the 5% in each of the GAWA calculations with the appropriate GAWA%. If you elected a GMWB with a bonus percentage other than 7%, the examples will still apply if you replace the 7% in each of the bonus calculations with the appropriate bonus percentage.

Example 1: At election, your GWB is set and your GAWA is determined based on that value.


▪	Example 1a: If the GMWB is elected at issue:


s	Your initial GWB is $100,000, which is your initial Premium payment.


s	Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5,000).


▪	Example 1b: If the GMWB is elected after issue or you convert to another GMWB, if permitted, when the Contract Value is $105,000 at the time the GMWB is elected or converted:


s	Your initial GWB is $105,000, which is your Contract Value on the effective date of the endorsement. If you converted your GMWB when the GWB for your former GMWB was $120,000 and the Contract Value declined to $105,000 prior to the conversion date, the conversion to the new GMWB would result in a $15,000 reduction in the GWB.


s	Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).


▪	Notes:


s	If your endorsement contains a varying benefit percentage:


–	Your GAWA% and GAWA are not determined until the earlier of the time of your first withdrawal, the date that your Contract Value reduces to zero, the date that the GMWB is continued by a spousal Beneficiary who is not a Covered Life, or upon election of a GMWB Income Option.


–	If your endorsement allows for re-determination of the GAWA%, your initial Benefit Determination Baseline (BDB) is set equal to your initial Premium payment if the endorsement is elected at issue or your Contract Value if the endorsement is elected after issuance of the Contract.


s	If your endorsement includes a Guaranteed Withdrawal Balance Bonus provision, your bonus base is set equal to your GWB at the time of election.


s	If your endorsement includes a Guaranteed Withdrawal Balance Adjustment provision, your initial GWB adjustment is set equal to 200% times your initial GWB.

Example 2: If your endorsement contains a varying benefit percentage, your GAWA% is determined on the earlier of the time of your first withdrawal, the date that your Contract Value reduces to zero, the date that the GMWB is continued by a spousal Beneficiary who is not a Covered Life, or upon election of a GMWB Income Option. Your GAWA% is set based upon your attained age at that time. Your initial GAWA is determined based on this GAWA% and the GWB at that time.


▪	If, at the time the GAWA% is determined, your GAWA% is 5% based on your attained age and your GWB is $100,000, your GAWA is $5,000, which is your GAWA% multiplied by your GWB at that time ($100,000 * 0.05 = $5,000).


▪	If your endorsement allows for re-determination of the GAWA%, your GAWA% will be re-determined based on your attained age if your Contract Value (or highest quarterly Contract Value, as applicable) at the time of a step-up is greater than the BDB.

Example 3: Upon payment of a subsequent Premium, your GWB and GAWA are re-determined. Your GWB is subject to a maximum of $5,000,000.


▪	Example 3a: If you make an additional Premium payment of $50,000 and your GWB is $100,000 at the time of payment:


s	Your new GWB is $150,000, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment ($50,000).


s	Your GAWA is $7,500, which is your GAWA prior to the additional Premium payment ($5,000) plus 5% of your additional Premium payment ($50,000*0.05 = $2,500).

B-1


▪	Example 3b: If you make an additional Premium payment of $100,000 and your GWB is $4,950,000 and your GAWA is $247,500 at the time of payment:


s	Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment ($100,000) exceeds the maximum of $5,000,000.


s	Your GAWA is $250,000, which is your GAWA prior to the additional Premium payment ($247,500) plus 5% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.05 = $2,500).


▪	Notes:


s	If your endorsement contains a varying benefit percentage:


–	Your GAWA is recalculated upon payment of an additional Premium (as described above) only if such payment occurs after your GAWA% has been determined.


–	If your endorsement allows for re-determination of the GAWA%, your BDB is increased by the Premium payment.


s	If your endorsement includes a Guaranteed Withdrawal Balance Bonus provision, your bonus base is increased by the Premium payment, subject to a maximum of $5,000,000.


s	If your endorsement includes a Guaranteed Withdrawal Balance Adjustment provision:

–

If the Premium payment occurs prior to the first Contract Anniversary following the effective date of the endorsement, your GWB adjustment is increased by the Premium payment times 200%, subject to a maximum of $5,000,000. For example, if, as in Example 3a, you make an additional Premium payment of $50,000 prior to your first Contract Anniversary following the effective date of the endorsement, and your GWB adjustment value before the additional Premium payment is $200,000, then the GWB adjustment is increased by 200% of the additional premium payment. The resulting GWB adjustment is $200,000 + $100,000 = $300,000.

–

If the Premium payment occurs on or after the first Contract Anniversary following the effective date of the endorsement, your GWB adjustment is increased by the Premium payment, subject to a maximum of $5,000,000. For example, if you make an additional Premium payment of $50,000 after your first Contract Anniversary following the effective date of the endorsement, and your GWB adjustment value before the additional Premium payment is $200,000, then the GWB adjustment is increased by 100% of the additional premium payment. The resulting GWB adjustment is $200,000 + $50,000 = $250,000.

Example 4: Upon withdrawal of the guaranteed amount (which is the greater of your GAWA or your RMD), your GWB and GAWA are re-determined.


▪	Example 4a: If you withdraw an amount equal to your GAWA ($5,000) when your GWB is $100,000:


s	Your new GWB is $95,000, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($5,000).


s	Your GAWA for the next year remains $5,000, since you did not withdraw an amount that exceeds your GAWA.

If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($95,000 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if you have elected a For Life GMWB and the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.


▪	Example 4b: If you withdraw an amount equal to your RMD ($7,500), which is greater than your GAWA ($5,000) when your GWB is $100,000 and the RMD provision is in effect for your endorsement:


s	Your new GWB is $92,500, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($7,500).


s	Your GAWA for the next year remains $5,000, since your withdrawal did not exceed the greater of your GAWA ($5,000) or your RMD ($7,500).

If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($92,500 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if you have elected a For Life GMWB and the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.


▪	Notes:


s	If your endorsement allows for re-determination of the GAWA%, your BDB remains unchanged since the BDB is not adjusted for partial withdrawals.

B-2


s	If your endorsement includes a Guaranteed Withdrawal Balance Bonus provision, your bonus base remains unchanged since the withdrawal did not exceed the guaranteed amount; however, no bonus will be applied to your GWB at the end of the Contract Year in which the withdrawal is taken.


s	If your endorsement does not include a For Life Guarantee or if the For Life Guarantee is not in effect, your GAWA would not be permitted to exceed your new GWB.


s	Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract. In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.


s	If your endorsement includes a Guaranteed Withdrawal Balance Adjustment provision, your Guaranteed Withdrawal Balance Adjustment provision is terminated since a withdrawal is taken.

Example 5: Upon withdrawal of an amount that exceeds your guaranteed amount (as defined in Example 4), your GWB and GAWA are re-determined.


▪	Example 5a: If you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $130,000 and your GWB is $100,000:


s	Your GWB is recalculated based on the type of endorsement you have elected and the effective date of the endorsement.


–	If your endorsement contains an annual Step-Up provision and is effective on or after 03/31/2008, your new GWB is $91,200, which is your GWB reduced dollar for dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $91,200].


–	Otherwise, your new GWB is $90,000, which is the lesser of 1) your GWB prior to the withdrawal less the amount of the withdrawal ($100,000 - $10,000 = $90,000) or 2) your Contract Value prior to the withdrawal less the amount of the withdrawal ($130,000 - $10,000 = $120,000).


s	Your GAWA is recalculated based on the type of endorsement you have elected and the effective date of the endorsement. In addition, if you have elected a For Life GMWB, your For Life Guarantee may be impacted depending on the effective date of the endorsement.

–

If your endorsement contains an annual Step-Up provision and is effective on or after 03/31/2008, your GAWA is recalculated to equal $4,800, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $4,800]. If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($91,200 / $4,800 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

–

Otherwise, if your endorsement is a For Life GMWB and is effective prior to 05/01/2006 or if your endorsement is not a For Life GMWB, your GAWA for the next year remains $5,000, since it is recalculated to equal the lesser of 1) your GAWA prior to the withdrawal ($5,000) or 2) 5% of your Contract Value after the withdrawal ($120,000*0.05 = $6,000). If you continued to take annual withdrawals equal to your GAWA, it would take an additional 18 years to deplete your GWB ($90,000 / $5,000 per year = 18 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. In addition, if you have elected a For Life GMWB, your For Life Guarantee becomes null and void since the amount of the withdrawal exceeds your GAWA.

–

Otherwise, your GAWA is recalculated to equal $4,500, which is 5% of your new GWB ($90,000*0.05 = $4,500). If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($90,000 / $4,500 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.


▪	Example 5b: If you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $105,000 and your GWB is $100,000:


s	Your GWB is recalculated based on the type of endorsement you have elected and the effective date of the endorsement.


–	If your endorsement contains an annual Step-Up provision and is effective on or after 03/31/2008, your new GWB is $90,250, which is your GWB reduced dollar for dollar for your GAWA, then reduced in the same proportion that the

B-3

Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($105,000 - $5,000)) = $90,250].


–	Otherwise, your new GWB is $90,000, which is the lesser of 1) your GWB prior to the withdrawal less the amount of the withdrawal ($100,000 - $10,000 = $90,000) or 2) your Contract Value prior to the withdrawal less the amount of the withdrawal ($105,000 - $10,000 = $95,000).


s	Your GAWA is recalculated based on the type of endorsement you have elected and/or the effective date of the endorsement. In addition, if you have elected a For Life GMWB, your For Life Guarantee may be impacted depending on the effective date of the endorsement.

–

If your endorsement contains an annual Step-Up provision and is effective on or after 03/31/2008, your GAWA is recalculated to equal $4,750, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000)/($105,000 - $5,000)) = $4,750]. If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($90,250 / $4,750 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

–

Otherwise, if your endorsement is a For Life GMWB and is effective prior to 05/01/2006 or if your endorsement is not a For Life GMWB, your GAWA for the next year is recalculated to equal $4,750, which is the lesser of 1) your GAWA prior to the withdrawal ($5,000) or 2) 5% of your Contract Value after the withdrawal ($95,000*0.05 = $4,750). If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($90,000 / $4,750 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date, and the amount of your final withdrawal would be less than your GAWA (and equal to your remaining GWB). In addition, if you have elected a For Life GMWB, your For Life Guarantee becomes null and void since the amount of the withdrawal exceeds your GAWA.

–


▪	Example 5c: If you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $55,000 and your GWB is $100,000:


s	Your GWB is recalculated based on the type of endorsement you have elected and the effective date of the endorsement.


–	If your endorsement contains an annual Step-Up provision and is effective on or after 03/31/2008, your new GWB is $85,500, which is your GWB reduced dollar for dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000) * (1 - ($10,000 - $5,000) / ($55,000 - $5,000)) = $85,500].


–	Otherwise, your new GWB is $45,000, which is the lesser of 1) your GWB prior to the withdrawal less the amount of the withdrawal ($100,000 - $10,000 = $90,000) or 2) your Contract Value prior to the withdrawal less the amount of the withdrawal ($55,000 - $10,000 = $45,000).


s	Your GAWA is recalculated based on the type of endorsement you have elected and/or the effective date of the endorsement. In addition, if you have elected a For Life GMWB, your For Life Guarantee may be impacted depending on the effective date of the endorsement.

–

If your endorsement contains an annual Step-Up provision and is effective on or after 03/31/2008, your GAWA is recalculated to equal $4,500, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000*(1-($10,000-$5,000)/($55,000 - $5,000))=$4,500]. If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($85,500 / $4,500 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life

B-4

GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

–

Otherwise, if your endorsement is a For Life GMWB and is effective prior to 05/01/2006 or if your endorsement is not a For Life GMWB, your GAWA for the next year is recalculated to equal $2,250, which is the lesser of 1) your GAWA prior to the withdrawal ($5,000) or 2) 5% of your Contract Value after the withdrawal ($45,000*0.05 = $2,250). If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($45,000 / $2,250 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. In addition, if you have elected a For Life GMWB, your For Life Guarantee becomes null and void since the amount of the withdrawal exceeds your GAWA.

–

Otherwise, your GAWA is recalculated to equal $2,250, which is 5% of your new GWB ($45,000*0.05 = $2,250). If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($45,000 / $2,250 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.


▪	Notes:


s	If your endorsement contains a varying benefit percentage and allows for re-determination of your GAWA%, your BDB remains unchanged since the BDB is not adjusted for partial withdrawals.


s	If your endorsement includes a Guaranteed Withdrawal Balance Bonus provision, your bonus base is recalculated to equal the lesser of 1) your bonus base prior to the withdrawal or 2) your GWB following the withdrawal. In addition, no bonus will be applied to your GWB at the end of the Contract Year in which the withdrawal is taken.


s	If your endorsement does not include a For Life Guarantee or if the For Life Guarantee is not in effect, your GAWA would not be permitted to exceed your remaining GWB.


s	Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract. In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.


s	If your endorsement includes a Guaranteed Withdrawal Balance Adjustment provision, your Guaranteed Withdrawal Balance Adjustment provision is terminated since a withdrawal is taken.

Example 6: Upon step-up, your GWB and GAWA are re-determined. (This example only applies if your endorsement contains a Step-Up provision.)


▪	Example 6a: If at the time of step-up your Contract Value (or highest quarterly Contract Value, as applicable) is $200,000, your GWB is $90,000, and your GAWA is $5,000:


s	Your new GWB is recalculated to equal $200,000, which is equal to your Contract Value (or highest quarterly Contract Value, as applicable).


s	If your GAWA% is not eligible for re-determination, your GAWA for the next year is recalculated to equal $10,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($200,000*0.05 = $10,000).

–

After step-up, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($200,000 / $10,000 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if you have elected a For Life GMWB and the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.

However, if your GAWA% is eligible for re-determination and the step-up occurs after the initial determination of your GAWA%, the GAWA% will be re-determined based on your attained age (or the youngest Covered Life’s attained age if your endorsement is a For Life GMWB with Joint Option) if your Contract Value (or highest quarterly Contract Value, as applicable) at the time of the step-up is greater than your BDB.


–	If, in the example above, your BDB is $100,000 and the GAWA% at the applicable attained age is 6%:


Ÿ	Your GAWA% is set to 6%, since your Contract Value (or highest quarterly Contract Value, as applicable)($200,000) is greater than your BDB ($100,000).


Ÿ	Your GAWA is equal to $12,000, which is your new GWB multiplied by your new GAWA% ($200,000 * 0.06 = $12,000).

B-5


Ÿ	Your BDB is recalculated to equal $200,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value (or highest quarterly Contract Value, as applicable) at the time of step-up ($200,000).


s	If your endorsement includes a Guaranteed Withdrawal Balance Bonus provision your bonus base is $100,000 just prior to the step-up, your bonus base is recalculated to equal $200,000, which is the greater of 1) your bonus base prior to the step-up ($100,000) or 2) your GWB following the step-up ($200,000).


–	If your endorsement allows for the Bonus Period to re-start and you have not passed your Contract Anniversary immediately following your 80^th birthday (or the youngest Covered Life's 80^th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your bonus base has been increased due to the step-up.


▪	Example 6b: If at the time of step-up your Contract Value (or highest quarterly Contract Value, as applicable) is $90,000, your GWB is $80,000, and your GAWA is $5,000:


s	Your new GWB is recalculated to equal $90,000, which is equal to your Contract Value (or highest quarterly Contract Value, as applicable).


s	Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($90,000*0.05 = $4,500).

–

After step-up, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 18 years to deplete your GWB ($90,000 / $5,000 per year = 18 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if you have elected a For Life GMWB and the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 18 years, provided that the withdrawals are taken prior to the Latest Income Date.

If your GAWA% is eligible for re-determination and the step-up occurs after the initial determination of your GAWA%, the GAWA% will be re-determined based on your attained age (or the youngest Covered Life’s attained age if your endorsement is a For Life GMWB with Joint Option) if your Contract Value (or highest quarterly Contract Value, as applicable) is greater than your BDB. However, in this case, it is assumed that your initial Premium is $100,000. Your BDB would not be less than $100,000, implying that this would not be an opportunity for a re-determination of the GAWA%. In addition, if your BDB is $100,000 prior to the step-up, your BDB remains $100,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value (or highest quarterly Contract Value, as applicable) at the time of step-up ($90,000).


s	If your endorsement includes a Guaranteed Withdrawal Balance Bonus provision and your bonus base is $100,000 just prior to the step-up, your bonus base remains $100,000, which is the greater of 1) your bonus base prior to the step-up ($100,000) or 2) your GWB following the step-up ($90,000).


–	Even if your endorsement allows for the Bonus Period to re-start, your Bonus Period will not re-start since your bonus base has not been increased due to the step-up.


▪	Notes:


s	Your endorsement may contain a provision allowing the Company to increase the GMWB charge upon step-up. If the charge does increase, a separate calculation would be recommended to establish if the step-up is beneficial.


s	If your endorsement contains a provision for automatic step-ups, your GWB will only step up to the Contract Value (or highest quarterly Contract Value, as applicable) if the Contract Value (or highest quarterly Contract Value, as applicable) is greater than your GWB at the time of the automatic step-up.


s	If your endorsement contains a Guaranteed Withdrawal Balance Bonus provision and a provision for automatic step-ups, your bonus base will be re-determined only if your GWB is increased upon step-up to a value above your bonus base just prior to the step-up.


s	If your endorsement contains a varying benefit percentage, your GAWA is recalculated upon step-up (as described above) only if the step-up occurs after your GAWA% has been determined.


s	If your endorsement contains a Guaranteed Withdrawal Balance Adjustment provision, your GWB adjustment remains unchanged since step-ups do not impact the GWB adjustment.

If your endorsement bases step-ups on the highest quarterly Contract Value, the highest quarterly Contract Value is equal to the greatest of the four most recent quarterly adjusted Contract Values. The quarterly adjusted Contract Values are initialized on each Contract Quarterly Anniversary and are adjusted for any premiums and/or withdrawals subsequent to the initialization in the same manner as the GWB.

B-6

Example 7: Impact of the order of transactions. (This example only applies if your endorsement contains a Step-Up provision.)


▪	Example 7a: If prior to any transactions your Contract Value (or highest quarterly Contract Value, as applicable) is $200,000, your GAWA is $5,000, your GAWA% is not eligible for re-determination upon step-up, your GWB is $100,000 and you wish to step up your GWB (or your GWB is due to step up automatically) and you also wish to take a withdrawal of an amount equal to $5,000:

If you request the withdrawal the day after the step-up, upon step-up, your GWB is set equal to $200,000, which is your Contract Value (or highest quarterly Contract Value, as applicable). At that time, your GAWA is recalculated and is equal to $10,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($200,000*0.05 = $10,000). On the day following the step-up and after the withdrawal of $5,000, your new GWB is $195,000, which is your GWB less the amount of the withdrawal ($200,000 - $5,000 = $195,000) and your GAWA will remain at $10,000 since the amount of the withdrawal does not exceed your GAWA. If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($195,000 / $10,000 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date, and the amount of the final withdrawal would be less than your GAWA (and equal to your remaining GWB). However, if you have elected a For Life GMWB and the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.

–

If your endorsement contains a Guaranteed Withdrawal Balance Bonus provision and your bonus base is $100,000 just prior to the step-up, at the time of step-up, your bonus base is recalculated and is equal to $200,000, which is the greater of 1) your bonus base prior to the step-up ($100,000) or 2) your GWB following the step-up ($200,000). Your bonus base is not adjusted upon withdrawal since the amount of the withdrawal does not exceed your GAWA.


–	If your endorsement allows for the Bonus Period to re-start and you have not passed the Contract Anniversary immediately following your 80^th birthday (or the youngest Covered Life's 80^th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your bonus base has been increased due to the step-up.

–

If your endorsement allows for re-determination of the GAWA% and your BDB is $100,000 just prior to the step-up, then at the time of step-up, your BDB is recalculated and is equal to $200,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value (or highest quarterly Contract Value, as applicable) at the time of step-up ($200,000). Your BDB is not adjusted upon withdrawal since the BDB is not reduced for partial withdrawals.

If you request the withdrawal prior to the step-up, immediately following the withdrawal transaction, your new GWB is $95,000, which is your GWB less the amount of the withdrawal ($100,000 - $5,000 = $95,000) and your Contract Value becomes $195,000, which is your Contract Value prior to the withdrawal less the amount of the withdrawal ($200,000 - $5,000 = $195,000). Upon step-up following the withdrawal, your GWB is set equal to $195,000, which is your Contract Value. At that time, your GAWA is recalculated and is equal to $9,750, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($195,000*0.05 = $9,750). If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($195,000 / $9,750 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if you have elected a For Life GMWB and the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.

–

If your endorsement contains a Guaranteed Withdrawal Balance Bonus provision and your bonus base is $100,000 just prior to the withdrawal, then at the time of the withdrawal, your bonus base is not adjusted since the amount of the withdrawal does not exceed your GAWA. At the time of step-up, your bonus base is recalculated and is equal to $195,000, which is the greater of 1) your bonus base prior to the step-up ($100,000) or 2) your GWB following the step-up ($195,000).


–	If your endorsement allows for the Bonus Period to re-start and you have not passed the Contract Anniversary immediately following your 80^th birthday (or the youngest Covered Life's 80^th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your bonus base has been increased due to the step-up.


–	If your endorsement allows for re-determination of the GAWA% and your BDB is $100,000 just prior to the withdrawal, then at the time of the withdrawal, your BDB is not adjusted since the BDB is not reduced for partial withdrawals. At the time of step-up, your BDB is recalculated and is equal to $195,000, which is the greater of 1)

B-7

your BDB prior to the step-up ($100,000) or 2) your Contract Value (or highest quarterly Contract Value, as applicable) at the time of step-up ($195,000).


▪	Notes:


s	As the example illustrates, when considering a request for a withdrawal at or near the same time as the election or automatic application of a step-up, the order of the transactions may impact your GAWA.


–	If the step-up would result in an increase in your GAWA and the requested withdrawal is less than or equal to your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied. This is especially true if your endorsement allows for re-determination of the GAWA% and the step-up would result in a re-determination of the GAWA%.


–	If your endorsement contains an annual step-up provision and is effective on or after 12/03/2007, the step-up would result in an increase in your GAWA, and the withdrawal requested is greater than your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.


–	Otherwise, your GAWA resulting from the transactions is the same regardless of the order of transactions.


s	This example would also apply in situations when the withdrawal exceeded your GAWA but not your permissible RMD.


s	Your endorsement may contain a provision allowing the Company to increase the GMWB charge upon step-up.


s	If your endorsement contains a provision for automatic step-ups, your GWB will only step up to the Contract Value (or highest quarterly Contract Value, as applicable) if the Contract Value (or highest quarterly Contract Value, as applicable) is greater than your GWB at the time of the automatic step-up.


s	If your endorsement contains a Guaranteed Withdrawal Balance Bonus provision and a provision for automatic step-ups, your bonus base will be re-determined only if your GWB is increased upon step-up to a value above your bonus base just prior to the step-up.


s	If your endorsement contains a varying benefit percentage, the GAWA% is determined at the time of the first withdrawal (if not previously determined).


–	If your endorsement allows for re-determination of the GAWA%, the GAWA% is re-determined upon step-up if your Contract Value (or highest quarterly Contract Value, as applicable) is greater than your BDB.


s	If your endorsement contains a Guaranteed Withdrawal Balance Adjustment provision, your Guaranteed Withdrawal Balance Adjustment provision is terminated at the time of the withdrawal.


s	If your endorsement does not include a For Life Guarantee or if the For Life Guarantee is not in effect, your GAWA would not be permitted to exceed your remaining GWB.


s	Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract. In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 8: Upon application of the Guaranteed Withdrawal Balance Bonus, your GWB and GAWA are re-determined. (This example only applies if your endorsement contains a Guaranteed Withdrawal Balance Bonus provision.)


▪	Example 8a: If at the end of a Contract Year in which you have taken no withdrawals, your GWB is $100,000, your bonus base is $100,000, and your GAWA is $5,000:


s	Your new GWB is recalculated to equal $107,000, which is equal to your GWB plus 7% of your bonus base ($100,000 + $100,000*0.07 = $107,000).


s	Your GAWA for the next year is recalculated to equal $5,350, which is the greater of 1) your GAWA prior to the application of the bonus ($5,000) or 2) 5% of your new GWB ($107,000*0.05 = $5,350).

After the application of the bonus, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($107,000 / $5,350 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if you have elected a For Life GMWB and the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.


▪	Example 8b: If at the end of a Contract Year in which you have taken no withdrawals, your GWB is $90,000, your bonus base is $100,000, and your GAWA is $5,000:


s	Your new GWB is recalculated to equal $97,000, which is equal to your GWB plus 7% of your bonus base ($90,000 + $100,000*0.07 = $97,000).

B-8


s	Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the application of the bonus ($5,000) or 2) 5% of your new GWB ($97,000*0.05 = $4,850).

After the application of the bonus, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($97,000 / $5,000 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date. However, if you have elected a For Life GMWB and the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.


▪	Notes:


s	Your bonus base is not recalculated upon the application of the bonus to your GWB.


s	If your endorsement contains a varying benefit percentage, your GAWA is recalculated upon the application of the bonus (as described above) only if the application of the bonus occurs after your GAWA% has been determined.


s	If the For Life Guarantee is not in effect, your GAWA would not be permitted to exceed your remaining GWB.


s	If your endorsement allows for re-determination of the GAWA%, your BDB remains unchanged since the BDB is not impacted by the application of the bonus.


s	If your endorsement includes a Guaranteed Withdrawal Balance Adjustment provision, your GWB adjustment remains unchanged since the GWB adjustment is not impacted by the application of the bonus.

Example 9: For Life Guarantee becomes effective after the effective date of the endorsement. At the time the For Life Guarantee becomes effective, your GAWA is re-determined. (This example only applies if your endorsement is a For Life GMWB that contains a For Life Guarantee that becomes effective after the effective date of the endorsement.)


▪	Example 9a: If on the reset date your Contract Value is $30,000, your GWB is $50,000, and your GAWA is $5,000:


s	Your GAWA for the next year is recalculated to equal $2,500, which is equal to 5% of the current GWB ($50,000*0.05 = $2,500).

The For Life Guarantee becomes effective, thus allowing you to make annual withdrawals equal to your GAWA for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), provided that the withdrawals are taken prior to the Latest Income Date. Once the For Life Guarantee becomes effective, it remains in effect until the endorsement is terminated, as described in the Access to Your Money section of this prospectus, or upon continuation of the Contract by the spouse (unless your endorsement is a For Life GMWB with Joint Option and the spouse continuing the Contract is a Covered Life in which case the For Life Guarantee remains in effect upon continuation of the Contract by the spouse).


▪	Example 9b: If your Contract Value has fallen to $0 prior to the reset date, your GWB is $50,000 and your GAWA is $5,000:


s	You will continue to receive automatic payments of a total annual amount that equals your GAWA until your GWB is depleted. However, your GAWA would not be permitted to exceed your remaining GWB. Your GAWA is not recalculated since the Contract Value is $0.


s	The For Life Guarantee does not become effective due to the depletion of the Contract Value prior to the effective date of the For Life Guarantee.


▪	Example 9c: If on the reset date, your Contract Value is $50,000, your GWB is $0, and your GAWA is $5,000:


s	Your GAWA for the next year is recalculated to equal $0, which is equal to 5% of the current GWB ($0*0.05 = $0).

Although your GAWA is $0, upon step-up or subsequent premium payments, your GWB and your GAWA would increase to values greater than $0 and since the For Life Guarantee has become effective, you could withdraw an annual amount equal to your GAWA for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), provided that the withdrawals are taken prior to the Latest Income Date.

B-9


▪	Notes:

If your endorsement is effective prior to 12/03/2007, your reset date is the Contract Anniversary on or immediately following your 65^th birthday (or the youngest Covered Life’s 65^th birthday if your endorsement is a For Life GMWB with Joint Option). If your endorsement is effective on or after 12/03/2007 and before 03/31/2008, your reset date is the Contract Anniversary on or immediately following your 60^th birthday. If your endorsement is effective on or after 03/31/2008 and before 10/06/2008, your reset date is the Contract Anniversary on or immediately following the date you attain age 59 1/2. If your endorsement is effective on or after 10/06/2008 and before 01/12/2009, your reset date is the Contract Anniversary on or immediately following your 63rd birthday (or the youngest Covered Life’s 62nd birthday if your endorsement is a For Life GMWB with Joint Option). If your endorsement is effective on or after 01/12/2009, your reset date is the Contract Anniversary on or immediately following the date you attain age 59 1/2 (or the youngest Covered Life’s 59 1/2 birthday if your endorsement is a For Life GMWB with Joint Option).

Example 10: For Life Guarantee on a For Life GMWB with Joint Option. (This example only applies if your endorsement is a For Life GMWB with Joint Option.)


▪	If at the time of the death of the Owner (or either Joint Owner) the Contract Value is $105,000 and your GWB is $100,000:

If your endorsement has a For Life Guarantee that becomes effective after the effective date of the endorsement, the surviving Covered Life may continue the Contract and the For Life Guarantee will remain in effect or become effective on the Contract Anniversary on the reset date. Once the For Life Guarantee becomes effective, the surviving Covered Life will be able to take annual withdrawals equal to the GAWA for the rest of his or her life, provided that the withdrawals are taken prior to the Latest Income Date.

If your endorsement has a For Life Guarantee that becomes effective on the effective date of the endorsement, the surviving Covered Life may continue the Contract and the For Life Guarantee will remain in effect. The GAWA% and the GAWA will continue to be determined or re-determined based on the youngest Covered Life's attained age (or the age he or she would have attained). The surviving Covered Life will be able to take annual withdrawals equal to the GAWA for the rest of his or her life, provided that the withdrawals are taken prior to the Latest Income Date.


s	The surviving spouse who is not a Covered Life may continue the Contract and the For Life Guarantee is null and void. However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted, provided that the withdrawals are taken prior to the Latest Income Date.


s	Your GWB remains $100,000 and your GAWA remains unchanged at the time of continuation.


▪	Notes:

If your endorsement is effective prior to 12/03/2007 and has a For Life Guarantee that becomes effective after the effective date of the endorsement, your reset date is the Contract Anniversary on or immediately following the youngest Covered Life’s 65^th birthday. If your endorsement is effective on or after 10/06/2008 and before 01/12/2009 and has a For Life Guarantee that becomes effective after the effective date of the endorsement, your reset date is the Contract Anniversary on or immediately following the youngest Covered Life 62^nd birthday. If your endorsement is effective on or after 01/12/2009 and has a For Life Guarantee that becomes effective after the effective date of the endorsement, your reset date is the Contract Anniversary on or immediately following the date the youngest Covered Life attains age 59 1/2.


s	If your endorsement contains a Guaranteed Withdrawal Balance Bonus provision, your bonus base remains unchanged at the time of continuation.


s	If your endorsement contains a varying benefit percentage, your BDB remains unchanged at the time of continuation.

Example 11: Upon application of the Guaranteed Withdrawal Balance adjustment, your GWB is re-determined. (This example only applies if your endorsement contains a Guaranteed Withdrawal Balance Adjustment provision.)


▪	Example 11a: If on the GWB Adjustment Date, your GWB is $160,000, your GWB adjustment is $200,000, and you have taken no withdrawals on or prior to the GWB Adjustment Date:


s	Your new GWB is recalculated to equal $200,000, which is the greater of 1) your GWB prior to the application of the GWB adjustment ($160,000) or 2) the GWB adjustment ($200,000).


▪	Example 11b: If on the GWB Adjustment Date, your GWB is $210,000, your GWB adjustment is $200,000, and you have taken no withdrawals on or prior to the GWB Adjustment Date:


s	Your new GWB is recalculated to equal $210,000, which is the greater of 1) your GWB prior to the application of the GWB adjustment ($210,000) or 2) the GWB adjustment ($200,000).


▪	Notes:


s	The GWB adjustment provision is terminated on the GWB Adjustment Date after the GWB adjustment is applied (if any).

B-10


s	Since you have taken no withdrawals, your GAWA% and GAWA have not yet been determined, thus no adjustment is made to your GAWA.


s	No adjustment is made to your bonus base since the bonus base is not impacted by the GWB adjustment.


s	If your endorsement allows for re-determination of the GAWA%, no adjustment is made to your BDB since the BDB is not impacted by the GWB Adjustment.

B-11

APPENDIX C

FINANCIAL INSTITUTION SUPPORT

Below is a complete list of Financial Institutions that received marketing and distribution and/or administrative support in 2016 from the Distributor and/or Jackson of NY or our affiliates in relation to the sale of Jackson and Jackson of NY variable insurance products.



1st Global Capital Corporation	Cadaret, Grant & Co., Inc.	David A. Noyes & Co.
Accelerated Capital Group, Inc.	Calton & Associates, Inc.	Dempsey Lord Smith, LLC
Advisory Group Equity Services, Ltd.	Cambridge Investment Research, Inc.	Dominion Investor Services
Allegheny Investments, Ltd.	Cantella & Company, Inc.	Dorsey and Company, Inc.
Allegiance Capital, LLC	Cape Securities, Inc.	Dougherty & Company, Inc.
Allegis Investment Services	Capfinancial Securities, Inc.	Duncan Williams, Inc.
Allen & Company of Florida, Inc.	Capital City Securities	EDI Financial, Inc.
Allied Beacon Partners, Inc.	Capital Financial Services	Edward Jones & Company
American Capital	Capital Investment Group, Inc.	Equable Securities Corporation
American Equity Investment Corp	Capital One Securities	Equity Services, Inc.
American Independent Securities Group, LLC	Capitol Securities Management, Inc.	Essex National Securities, Inc.
American Portfolios Financial Services, Inc.	Cary Street Partners, LLC	Feltl and Company
Ameriprise Advisor Services, Inc.	CBIZ Financial Solutions	Fifth Third Securities
Ameritas Investment Corporation	CCF Investments, Inc.	Financial Security Management
Arete Wealth Management, LLC	Centaurus Financial, Inc.	Financial West Investment Group
Arque Capital, Ltd.	Center Street Securities, Inc.	First Allied Securities, Inc.
Arvest Asset Management	Century Securities & Associates, Inc.	First Brokerage America, LLC
Associated Insurance Services	Ceros Financial Services, Inc.	First Citizens Investor Services
Aurora Capital, LLC	Cetera Advisor Networks, LLC	First Financial Equity Corporation
Ausdal Financial Partners, Inc.	Cetera Advisors, LLC	First Heartland Capital, Inc.
Avalon Investment & Securities Group, Inc.	Cetera Financial Specialists, LLC	First Republic Securities Company
AXA Advisors, LLC	Cetera Investment Services, LLC	First Western Securities, Inc.
B.C. Ziegler & Company	CFD Investments, Inc.	Foothill Securities, Inc.
BancWest Investment Services, Inc.	Chelsea Financial Services	Foresters Equity Services, Inc.
Bankers Life Securities, Inc.	Citigroup Global Markets, Inc.	Fortune Financial Services, Inc.
BB&T Securities, LLC	Citizens Investment Services	Founders Financial Securities, LLC
BBVA Compass Investment Solutions, Inc.	Client One Securities, LLC	FSC Securities Corporation
BCG Securities, Inc.	Coastal Equities, Inc.	FTB Advisors, Inc.
Beaconsfield Financial Services	Commonwealth Financial Network	G. W. Sherwold Associates, Inc.
Benjamin F Edwards & Company	Community America Financial Solutions, LLC	G.A. Repple and Company
Berthel, Fisher & Company Financial Services	Compass Bancshares Ins, Inc.	Garden State Securities
BFT Financial Group, LLC	Comprehensive Asset Management &	Geneos Wealth Management, Inc.
Blakeslee & Blakeslee, Inc.	Servicing, Inc.	Girard Securities, Inc.
BMO Harris Financial Advisors, Inc.	Concorde Investment Services, LLC	Global Brokerage Services, Inc.
BOK Financial Securities, Inc.	Coordinated Capital Securities, Inc.	GLP Investment Services, LLC
Bolton Global Capital	Country Capital Management Company	GLS & Associates, Inc.
BOSC, Inc.	Crescent Securities Group	Gradient Securities, LLC
Bristol Financial Services, Inc.	Crown Capital Securities, L.P.	Great Nation Investment Corporation
Broker Dealer Financial Services Corporation	Crystal Bay Securities	GWN Securities, Inc.
Brokers International Financial Services, LLC	CUNA Brokerage Services, Inc.	H Beck, Inc.
Brooklight Place Securities	CUSO Financial Services, Inc.	H.D. Vest Investment Securities, Inc.
Bruce A. Lefavi Securities, Inc.	Cutter & Company	Hantz Financial Services
Bruderman Brothers	D. A. Davidson & Company	Harbor Financial Services, LLC
Buckman, Buckman & Reid, Inc.	Davenport & Company, LLC	Harbour Investments, Inc.

C-1



Harger and Company, Inc.	Lincoln Financial Advisors Corporation	OneAmerica Securities, Inc.
Hazard & Siegel, Inc.	Lincoln Financial Securities Corporation	Oppenheimer & Company, Inc.
HBW Securities, LLC	Lincoln Investment Planning, Inc.	Packerland Brokerage Services
Hefren-Tillotson, Inc.	Lion Street Financial, LLC	Paradigm Equities, Inc.
Hilltop Securities, Inc.	Lombard Securities	Park Avenue Securities, LLC
Hornor, Townsend & Kent, Inc.	Long Island Financial Group, Inc.	Parkland Securities, LLC
HSBC Securities	LPL Financial Services	Parsonex Securities, LLC
Huntington Investment Company	Lucia Securities, LLC	Peak Brokerage Services
Huntleigh Securities Corporation	M Griffith Investment Services	Peoples Securities, Inc.
IBN Financial Services, Inc.	M. Holdings Securities, Inc.	PFA Security Asset Management, Inc.
IFS Securities	M&T Securities, Inc.	PlanMember Securities Corporation
IMS Securities, Inc.	Madison Avenue Securities, Inc	PNC Investment, LLC
Independence Capital Company	Maxim Group, LLC	Principal Securities
Independent Financial Group, LLC	McLaughlin Ryder Investments, Inc.	Private Client Services, LLC
Infinex Investments, Inc.	MerCap Securities, LLC	ProEquities, Inc.
Infinity Securities, Inc.	Mercer Allied Company, LP	Prospera Financial Services, Inc.
Innovation Partners, LLC	Merrill Lynch	Pruco Securities, LLC
Institutional Securities Corporation	MetLife Securities, Inc.	PTS Brokerage, LLC
InterCarolina Financial Services, Inc.	Michigan Securities, Inc.	Purshe Kaplan Sterling Investments
International Assets Advisory, LLC	Mid-Atlantic Capital Corporation	Quayle & Company Securities
Intervest International, Inc.	Mid-Atlantic Securities , Inc.	Questar Capital Corporation
INVEST Financial Corporation	MML Investors Services, LLC	Raymond James & Associates, Inc.
Investacorp, Inc.	Moloney Securities Company, Inc.	RBC Capital Markets Corporation
Investment Centers of America, Inc.	Money Concepts Capital Corp	Regulus Advisors, LLC
Investment Network, Inc.	Moors & Cabot, Inc.	Rhodes Securities, Inc.
Investment Planners, Inc.	Morgan Stanley	Robert W. Baird & Company, Inc.
Investment Professional, Inc.	MSI Financial Services	Rogan and Associates
Investors Capital Corporation	Mutual of Omaha Investor Services, Inc.	Royal Alliance Associates
J.W. Cole Financial, Inc.	Mutual Securities, Inc.	Royal Securities Company
James T Borello & Company	Mutual Trust Company of America Securities	Sagepoint Financial, Inc.
Janney, Montgomery Scott, LLC	MWA Financial Services, Inc.	Santander Securities, LLC
JJB Hilliard WL Lyons, LLC	National Planning Corporation	Saxony Securities, Inc.
JP Morgan Securities	National Securities Corporation	SCF Securities, Inc.
JP Turner & Company, LLC	Nations Financial Group, Inc.	Secure Planning, Inc.
K. W. Chambers & Company	Nationwide Planning Associates	Securian Financial Services, Inc.
Kalos Capital, Inc.	Nationwide Securities, LLC	Securities America, Inc.
Kestra Investment Services, Inc./NFP	Navy Federal Brokerage Services, LLC	Securities Equity Group
Securities, Inc.	NBC Securities, Inc.	Securities Management & Research, Inc.
Key Investment Services	Newbridge Securities Corporation	Securities Service Network, Inc.
Kingsbury Capital, Inc.	Next Financial Group, Inc.	Sigma Financial Corporation
KMS Financial Services, Inc.	NIA Securities, LLC	Signal Securities, Inc.
Kovack Securities, Inc.	North Ridge Securities Corporation	Signator Investors, Inc.
L. M. Kohn & Company, Inc.	Northeast Securities, Inc.	Signature Securities Group Corporation
Lasalle St. Securities, LLC	Northwestern Mutual Investment Services, LLC	SII Investments, Inc.
Legend Equities Corporation	NPB Financial Group, LLC	Silver Oak Securities
Leigh Baldwin & Company	NY Life Securities, Inc.	Sorrento Pacific Financial, LLC
Lesko Securities, Inc.	Oak Tree Securities, Inc.	Southeast Investments, N.C., Inc.
Liberty Partners Financial Services, LLC	Oakbridge Financial Services	Southwestern/Great American
LifeMark Securities Corporation	Ohanesian & Lecours, Inc.	Spire Securities

C-2



St. Bernard Financial Services, Inc.	Woodbury Financial Services, Inc.
Sterne Agee Financial Services, Inc.	Woodmen Financial Services, Inc.
Stifel Nicolaus & Company, Inc.	World Equity Group, Inc.
Summit Brokerage Services, Inc.	Wunderlich Securities, Inc.
Sunset Financial Services, Inc.	WWK Investments, Inc.
SunTrust Investment Services, Inc.
SWBC Investment Services
SWS Financial Services, Inc.
Symphonic Securities, LLC
Synovus Securities, Inc.
Tandem Securities, Inc.
Taylor Capital Management
Teckmeyer Financial Services
TFS Securities, Inc.
The Investment Center, Inc.
The Leaders Group, Inc.
The O.N. Equity Sales Company
The Strategic Financial Alliance, Inc.
The Windmill Group
Thrivent Financial
Thurston, Springer, Miller, Herd and Titak, Inc.
Transamerica Financial Advisors, Inc.
Triad Advisors, Inc.
Trustmont Financial Group, Inc.
UBS Financial Services, Inc.
Uhlmann Price Securities
UMB Insurance, Inc.
UnionBanc Investment Services, LLC
United Planners Financial Services of America
Univest Insurance, Inc.
US Bancorp Investments, Inc.
USA Financial Securities Corporation
Valic Financial Advisors, Inc.
ValMark Securities, Inc.
Vanderbilt Securities, LLC
Veritrust
Voya Financial Advisors, Inc
VSR Financial Services, Inc.
Waddell & Reed, Inc.
Wall Street Financial Group
Wayne Hummer Investments, LLC
Wedbush Securities, Inc.
Wellington Shields & Company, LLC
Wells Fargo Advisors, LLC
Wescom Financial Services, LLC
Western Equity Group
Westport Capital Markets
WFG Investments, Inc.

C-3

APPENDIX D

ACCUMULATION UNIT VALUES

The tables reflect the Accumulation Unit values for each Investment Division for the beginning and end of the periods indicated, and the number of Accumulation Units outstanding as of the end of the periods indicated. The tables do not provide partial year information. The tables provide Accumulation Unit values and the number of Accumulation Units outstanding only if that information is available throughout the period. Where Accumulation Unit values and the number of Accumulation Units outstanding are unavailable, either because of a partial year or a Fund not being offered, a “N/A” is provided.

Contact the Jackson of NY Service Center (contact information is on the cover page of the prospectus) to ask about the more timely Accumulation Unit values that are available for each Investment Division.

The Accumulation Unit value information for JNL/PPM America Total Return Fund (JNL Series Trust) includes historical information from the JNL/PPM America Total Return Fund (JNL Investors Series Trust) for periods before the merger of JNL/PPM America Total Return Fund (JNL Investors Series Trust) into JNL/PPM America Total Return Fund (JNL Series Trust), effective April 25, 2016.

Set forth below are fund changes and additions since the September 19, 2016 Supplement to the Prospectus dated April 25, 2016, for your information in reviewing Accumulation Unit information.

The following fund name changes are effective April 24, 2017 (whether or not in connection with a sub-adviser change):

JNL Series Trust

JNL/Capital Guardian Global Balanced Fund to JNL/American Funds Balanced Fund

JNL/Franklin Templeton Global Growth Fund to JNL/Franklin Templeton Global Fund

JNL/Goldman Sachs Mid Cap Value Fund to JNL/MFS Mid Cap Value Fund

JNL/Goldman Sachs U.S. Equity Flex Fund to JNL/AQR Large Cap Relaxed Constraint Equity Fund

JNL/WMC Money Market Fund to JNL/WMC Government Money Market Fund

The following fund mergers are effective April 24, 2017:

JNL Series Trust

JNL/Morgan Stanley Mid Cap Growth Fund merged into JNL/T. Rowe Price Mid-Cap Growth Fund

JNL Variable Fund LLC

JNL/Mellon Capital S&P ^® 24 Fund merged into JNL/Mellon Capital JNL 5 Fund

Effective April 24, 2017, there are new Investment Divisions for which Accumulation Unit information is not yet available. The new Investment Divisions invest in the following Funds:

JNL Series Trust

JNL/DFA Growth Allocation Fund

JNL/DFA Moderate Allocation Fund

JNL/DoubleLine ^® Shiller Enhanced CAPE ^® Fund

JNL/Mellon Capital MSCI KLD 400 Social Index Fund

JNL Variable Fund LLC

JNL/Mellon Capital Dow ^SM Index Fund

JNL/Mellon Capital Global 30 Fund

Jackson Variable Series Trust

JNL/T. Rowe Price Capital Appreciation Fund

D-1



Accumulation Unit Values
Base Contract - 1.50%

Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL Alt 65 Division
Accumulation unit value:
Beginning of period	$16.77	$17.34	$17.32	$16.06	$14.69	$15.77	$13.82	N/A	N/A	N/A
End of period	$17.06	$16.77	$17.34	$17.32	$16.06	$14.69	$15.77	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	N/A	N/A	N/A

JNL Disciplined Growth Division
Accumulation unit value:
Beginning of period	$11.26	$11.74	$11.35	$9.29	$8.23	$8.62	$7.77	$6.29	$10.50	N/A
End of period	$11.99	$11.26	$11.74	$11.35	$9.29	$8.23	$8.62	$7.77	$6.29	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL Disciplined Moderate Division
Accumulation unit value:
Beginning of period	$12.52	$12.94	$12.47	$10.81	$9.68	$9.76	$8.92	$7.63	$10.55	N/A
End of period	$13.23	$12.52	$12.94	$12.47	$10.81	$9.68	$9.76	$8.92	$7.63	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL Disciplined Moderate Growth Division
Accumulation unit value:
Beginning of period	$12.11	$12.54	$12.12	$10.02	$8.91	$9.12	$8.18	$6.76	$10.52	N/A
End of period	$12.82	$12.11	$12.54	$12.12	$10.02	$8.91	$9.12	$8.18	$6.76	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL Institutional Alt 20 Division
Accumulation unit value:
Beginning of period	$16.03	$16.65	$16.53	$14.74	$13.46	$14.02	$12.59	N/A	N/A	N/A
End of period	$16.75	$16.03	$16.65	$16.53	$14.74	$13.46	$14.02	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL Institutional Alt 35 Division
Accumulation unit value:
Beginning of period	$16.41	$17.05	$16.98	$15.33	$13.98	$14.75	$13.09	N/A	N/A	N/A
End of period	$17.01	$16.41	$17.05	$16.98	$15.33	$13.98	$14.75	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	N/A	N/A	N/A

JNL Institutional Alt 50 Division
Accumulation unit value:
Beginning of period	$16.41	$17.01	$16.95	$15.59	$14.27	$15.19	$13.42	N/A	N/A	N/A
End of period	$16.83	$16.41	$17.01	$16.95	$15.59	$14.27	$15.19	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	N/A	N/A	N/A

JNL Multi-Manager Mid Cap Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL Multi-Manager Small Cap Growth Division
Accumulation unit value:
Beginning of period	$21.48	$22.87	$22.58	$17.57	$15.67	$16.28	$12.19	$9.13	$15.02	$13.60
End of period	$22.37	$21.48	$22.87	$22.58	$17.57	$15.67	$16.28	$12.19	$9.13	$15.02
Accumulation units outstanding at the end of period	114	112	112	109	—	—	428	428	428	428

JNL Multi-Manager Small Cap Value Division
Accumulation unit value:
Beginning of period	$13.95	$15.64	$15.85	$11.97	$10.33	$10.78	$8.63	$6.56	N/A	N/A
End of period	$17.01	$13.95	$15.64	$15.85	$11.97	$10.33	$10.78	$8.63	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	293	N/A	N/A

JNL/American Funds Balanced Allocation Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/American Funds Blue Chip Income and Growth Division
Accumulation unit value:
Beginning of period	$15.74	$16.53	$14.59	$11.18	$10.01	$10.29	N/A	N/A	N/A	N/A
End of period	$18.35	$15.74	$16.53	$14.59	$11.18	$10.01	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/American Funds Global Bond Division
Accumulation unit value:
Beginning of period	$9.96	$10.56	$10.60	$11.08	$10.63	$10.35	N/A	N/A	N/A	N/A
End of period	$10.04	$9.96	$10.56	$10.60	$11.08	$10.63	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	116	116	N/A	N/A	N/A	N/A

JNL/American Funds Global Small Capitalization Division
Accumulation unit value:
Beginning of period	$12.66	$12.86	$12.82	$10.18	$8.76	$11.04	N/A	N/A	N/A	N/A
End of period	$12.69	$12.66	$12.86	$12.82	$10.18	$8.76	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/American Funds Growth Allocation Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/American Funds Growth-Income Division
Accumulation unit value:
Beginning of period	$16.22	$16.30	$15.02	$11.47	$9.96	$10.35	N/A	N/A	N/A	N/A
End of period	$17.75	$16.22	$16.30	$15.02	$11.47	$9.96	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/American Funds International Division
Accumulation unit value:
Beginning of period	$11.19	$11.94	$12.50	$10.48	$9.06	$10.74	N/A	N/A	N/A	N/A
End of period	$11.37	$11.19	$11.94	$12.50	$10.48	$9.06	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/American Funds New World Division
Accumulation unit value:
Beginning of period	$10.30	$10.84	$11.99	$10.98	$9.50	$11.25	N/A	N/A	N/A	N/A
End of period	$10.65	$10.30	$10.84	$11.99	$10.98	$9.50	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/AQR Managed Futures Strategy Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/BlackRock Global Allocation Division
Accumulation unit value:
Beginning of period	$11.59	$11.92	$11.88	$10.55	$9.77	$10.32	N/A	N/A	N/A	N/A
End of period	$11.87	$11.59	$11.92	$11.88	$10.55	$9.77	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	523	507	502	490	169	169	N/A	N/A	N/A	N/A

JNL/BlackRock Global Natural Resources Division
Accumulation unit value:
Beginning of period	$6.98	$9.29	$11.00	$10.19	$10.27	$11.25	$9.72	$6.58	$13.70	N/A
End of period	$8.70	$6.98	$9.29	$11.00	$10.19	$10.27	$11.25	$9.72	$6.58	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/BlackRock Large Cap Select Growth Division
Accumulation unit value:
Beginning of period	$10.59	$10.12	$9.43	$6.89	$6.32	$6.37	$5.74	$4.32	$7.31	$6.86
End of period	$10.48	$10.59	$10.12	$9.43	$6.89	$6.32	$6.37	$5.74	$4.32	$7.42
Accumulation units outstanding at the end of period	3,367	—	—	—	—	—	—	—	—	921

JNL/Brookfield Global Infrastructure and MLP Division
Accumulation unit value:
Beginning of period	$12.49	$15.56	$14.71	$12.10	$10.35	N/A	N/A	N/A	N/A	N/A
End of period	$13.85	$12.49	$15.56	$14.71	$12.10	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	N/A	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Capital Guardian Global Balanced Division
Accumulation unit value:
Beginning of period	$14.33	$14.77	$14.91	$13.10	$11.76	$12.54	$11.67	$9.68	$13.68	$12.88
End of period	$14.92	$14.33	$14.77	$14.91	$13.10	$11.76	$12.54	$11.67	$9.68	$13.70
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Causeway International Value Select Division
Accumulation unit value:
Beginning of period	$14.77	$15.54	$17.64	$14.74	$12.77	$14.88	$14.04	$10.95	$20.02	$18.15
End of period	$14.55	$14.77	$15.54	$17.64	$14.74	$12.77	$14.88	$14.04	$10.95	$20.02
Accumulation units outstanding at the end of period	3,745	3,537	3,367	3,119	3,004	2,956	3,801	3,644	3,653	3,530

JNL/Crescent High Income Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/DFA U.S. Core Equity Division
Accumulation unit value:
Beginning of period	$15.92	$16.50	$15.25	$11.46	$10.23	$10.47	$9.50	$7.21	$12.00	$12.11
End of period	$17.88	$15.92	$16.50	$15.25	$11.46	$10.23	$10.47	$9.50	$7.21	$12.00
Accumulation units outstanding at the end of period	2,673	2,674	2,674	2,674	2,674	2,675	2,675	2,675	2,677	2,678

JNL/DoubleLine Total Return Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/FPA + Doubleline Flexible Allocation Division
Accumulation unit value:
Beginning of period	$12.17	$13.60	$14.38	$11.81	$10.22	$11.22	$10.37	N/A	N/A	N/A
End of period	$12.43	$12.17	$13.60	$14.38	$11.81	$10.22	$11.22	N/A	N/A	N/A
Accumulation units outstanding at the end of period	416	400	365	343	118	118	118	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Franklin Templeton Founding Strategy Division
Accumulation unit value:
Beginning of period	$11.05	$11.96	$11.82	$9.68	$8.48	$8.72	$8.02	$6.26	$9.95	N/A
End of period	$12.35	$11.05	$11.96	$11.82	$9.68	$8.48	$8.72	$8.02	$6.26	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Franklin Templeton Global Growth Division
Accumulation unit value:
Beginning of period	$9.99	$10.84	$11.27	$8.77	$7.30	$7.89	$7.48	$5.80	$9.92	N/A
End of period	$10.88	$9.99	$10.84	$11.27	$8.77	$7.30	$7.89	$7.48	$5.80	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Franklin Templeton Global Multisector Bond Division
Accumulation unit value:
Beginning of period	$11.03	$11.68	$11.91	$11.67	$10.05	N/A	N/A	N/A	N/A	N/A
End of period	$11.28	$11.03	$11.68	$11.91	$11.67	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	N/A	N/A	N/A	N/A	N/A

JNL/Franklin Templeton Income Division
Accumulation unit value:
Beginning of period	$12.76	$13.98	$13.75	$12.24	$11.07	$10.96	$9.88	$7.55	$10.87	$10.87
End of period	$14.34	$12.76	$13.98	$13.75	$12.24	$11.07	$10.96	$9.88	$7.55	$10.90
Accumulation units outstanding at the end of period	293	305	287	281	232	233	246	—	—	—

JNL/Franklin Templeton International Small Cap Growth Division
Accumulation unit value:
Beginning of period	$10.06	$9.84	$11.02	$8.45	$6.74	$7.99	$6.73	$4.48	$9.86	N/A
End of period	$9.79	$10.06	$9.84	$11.02	$8.45	$6.74	$7.99	$6.73	$4.48	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Franklin Templeton Mutual Shares Division
Accumulation unit value:
Beginning of period	$11.39	$12.12	$11.47	$9.08	$8.11	$8.28	$7.54	$6.04	$9.87	N/A
End of period	$12.98	$11.39	$12.12	$11.47	$9.08	$8.11	$8.28	$7.54	$6.04	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	3,955	3,955	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Goldman Sachs Core Plus Bond Division
Accumulation unit value:
Beginning of period	$15.63	$15.81	$15.23	$15.62	$14.71	$14.06	$13.26	$11.79	$12.62	$11.97
End of period	$15.72	$15.63	$15.81	$15.23	$15.62	$14.71	$14.06	$13.26	$11.79	$12.62
Accumulation units outstanding at the end of period	—	—	—	—	—	—	5,993	6,775	6,776	6,602

JNL/Goldman Sachs Emerging Markets Debt Division
Accumulation unit value:
Beginning of period	$10.89	$12.61	$13.47	$14.84	$12.55	$13.36	$11.68	$9.65	N/A	N/A
End of period	$11.70	$10.89	$12.61	$13.47	$14.84	$12.55	$13.36	$11.68	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	100	—	N/A	N/A

JNL/Goldman Sachs Mid Cap Value Division
Accumulation unit value:
Beginning of period	$16.65	$18.56	$16.65	$12.74	$10.96	$11.90	N/A	N/A	N/A	N/A
End of period	$18.63	$16.65	$18.56	$16.65	$12.74	$10.96	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/Goldman Sachs U.S. Equity Flex Division
Accumulation unit value:
Beginning of period	$12.88	$13.31	$11.86	$8.97	$7.61	$8.65	$8.08	$6.57	$10.56	N/A
End of period	$13.70	$12.88	$13.31	$11.86	$8.97	$7.61	$8.65	$8.08	$6.57	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Invesco China-India Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/Invesco Global Real Estate Division
Accumulation unit value:
Beginning of period	$12.94	$13.26	$11.71	$11.56	$9.15	$9.91	$8.58	$6.57	$10.38	$12.40
End of period	$13.06	$12.94	$13.26	$11.71	$11.56	$9.15	$9.91	$8.58	$6.57	$10.38
Accumulation units outstanding at the end of period	1,065	996	973	1,021	597	647	621	608	608	603



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Invesco International Growth Division
Accumulation unit value:
Beginning of period	$13.20	$13.68	$13.85	$11.82	$10.36	$11.30	$10.21	$7.57	$13.00	$12.02
End of period	$12.85	$13.20	$13.68	$13.85	$11.82	$10.36	$11.30	$10.21	$7.57	$13.00
Accumulation units outstanding at the end of period	909	909	909	909	909	909	909	909	909	4,188

JNL/Invesco Mid Cap Value Division
Accumulation unit value:
Beginning of period	$21.98	$24.54	$22.80	$17.68	$16.66	$17.92	$14.78	$10.75	$17.87	$18.63
End of period	$24.98	$21.98	$24.54	$22.80	$17.68	$16.66	$17.92	$14.78	$10.75	$17.87
Accumulation units outstanding at the end of period	1,333	1,333	1,333	1,333	1,333	1,333	2,104	2,104	2,105	2,105

JNL/Invesco Small Cap Growth Division
Accumulation unit value:
Beginning of period	$22.44	$23.19	$21.80	$15.84	$13.67	$14.06	$11.31	$8.52	$14.10	$13.08
End of period	$24.65	$22.44	$23.19	$21.80	$15.84	$13.67	$14.06	$11.31	$8.52	$14.35
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/JPMorgan MidCap Growth Division
Accumulation unit value:
Beginning of period	$22.40	$22.07	$20.15	$14.40	$12.58	$13.57	$10.96	$7.79	$14.03	$13.38
End of period	$22.18	$22.40	$22.07	$20.15	$14.40	$12.58	$13.57	$10.96	$7.79	$14.23
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/JPMorgan U.S. Government & Quality Bond Division
Accumulation unit value:
Beginning of period	$13.60	$13.74	$13.23	$13.92	$13.64	$12.60	$11.92	$11.67	$11.21	$10.61
End of period	$13.59	$13.60	$13.74	$13.23	$13.92	$13.64	$12.60	$11.92	$11.67	$11.12
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	1,627	—	—

JNL/Lazard Emerging Markets Division
Accumulation unit value:
Beginning of period	$10.04	$12.53	$13.42	$13.78	$11.44	$14.13	$11.76	$6.95	$14.02	$10.88
End of period	$11.79	$10.04	$12.53	$13.42	$13.78	$11.44	$14.13	$11.76	$6.95	$14.13
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Mellon Capital 10 x 10 Division
Accumulation unit value:
Beginning of period	$12.36	$12.83	$12.03	$9.57	$8.37	$8.68	$7.57	$6.17	$9.82	N/A
End of period	$13.64	$12.36	$12.83	$12.03	$9.57	$8.37	$8.68	$7.57	$6.17	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Mellon Capital Bond Index Division
Accumulation unit value:
Beginning of period	$12.95	$13.16	$12.65	$13.20	$12.94	$12.25	$11.75	$11.28	$11.11	$10.53
End of period	$13.00	$12.95	$13.16	$12.65	$13.20	$12.94	$12.25	$11.75	$11.28	$11.04
Accumulation units outstanding at the end of period	—	—	—	—	710	710	778	—	—	319

JNL/Mellon Capital Communications Sector Division
Accumulation unit value:
Beginning of period	$21.45	$21.20	$20.39	$17.11	$14.43	$15.13	$12.53	$10.13	$16.77	$16.58
End of period	$26.11	$21.45	$21.20	$20.39	$17.11	$14.43	$15.13	$12.53	$10.13	$17.04
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Mellon Capital Consumer Brands Sector Division
Accumulation unit value:
Beginning of period	$23.51	$22.54	$20.65	$14.85	$12.21	$11.64	$9.62	$7.34	$10.62	$11.94
End of period	$24.59	$23.51	$22.54	$20.65	$14.85	$12.21	$11.64	$9.62	$7.34	$10.84
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Mellon Capital Emerging Markets Index Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/Mellon Capital European 30 Division
Accumulation unit value:
Beginning of period	$13.88	$14.37	$15.10	$11.74	$10.97	$12.02	$11.94	$8.60	N/A	N/A
End of period	$13.42	$13.88	$14.37	$15.10	$11.74	$10.97	$12.02	$11.94	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Mellon Capital Financial Sector Division
Accumulation unit value:
Beginning of period	$11.06	$11.35	$10.19	$7.76	$6.24	$7.28	$6.51	$5.57	$11.21	$14.07
End of period	$13.52	$11.06	$11.35	$10.19	$7.76	$6.24	$7.28	$6.51	$5.57	$11.46
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Mellon Capital Healthcare Sector Division
Accumulation unit value:
Beginning of period	$25.89	$24.66	$20.01	$14.42	$12.34	$11.30	$11.04	$9.27	$12.17	$11.56
End of period	$24.53	$25.89	$24.66	$20.01	$14.42	$12.34	$11.30	$11.04	$9.27	$12.25
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Mellon Capital Index 5 Division
Accumulation unit value:
Beginning of period	$12.78	$13.17	$12.70	$10.42	$9.28	$9.62	$8.43	$6.84	$9.90	N/A
End of period	$14.09	$12.78	$13.17	$12.70	$10.42	$9.28	$9.62	$8.43	$6.84	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Mellon Capital International Index Division
Accumulation unit value:
Beginning of period	$14.35	$14.73	$15.92	$13.31	$11.45	$13.25	$12.59	$9.88	$17.53	$16.17
End of period	$14.25	$14.35	$14.73	$15.92	$13.31	$11.45	$13.25	$12.59	$9.88	$17.58
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	322

JNL/Mellon Capital JNL 5 Division
Accumulation unit value:
Beginning of period	$15.85	$16.59	$15.13	$11.66	$10.03	$10.39	$9.01	$7.37	$13.01	$13.02
End of period	$17.51	$15.85	$16.59	$15.13	$11.66	$10.03	$10.39	$9.01	$7.37	$13.01
Accumulation units outstanding at the end of period	3,718	3,720	3,722	3,724	3,726	3,729	22,254	22,258	22,262	22,266

JNL/Mellon Capital NASDAQ 100 Division
Accumulation unit value:
Beginning of period	$17.40	$17.41	$14.93	$10.74	$9.11	$9.07	$7.85	$5.94	$10.32	N/A
End of period	$18.50	$17.40	$17.41	$14.93	$10.74	$9.11	$9.07	$7.85	$5.94	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Mellon Capital Oil & Gas Sector Division
Accumulation unit value:
Beginning of period	$21.67	$28.66	$32.45	$26.28	$25.57	$25.13	$21.42	$18.11	$29.58	$22.20
End of period	$27.15	$21.67	$28.66	$32.45	$26.28	$25.57	$25.13	$21.42	$18.11	$29.58
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	1,844	1,941

JNL/Mellon Capital Pacific Rim 30 Division
Accumulation unit value:
Beginning of period	$16.20	$15.66	$15.40	$13.88	$12.58	$13.01	$11.70	$9.57	N/A	N/A
End of period	$17.49	$16.20	$15.66	$15.40	$13.88	$12.58	$13.01	$11.70	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	N/A	N/A

JNL/Mellon Capital S&P 24 Division
Accumulation unit value:
Beginning of period	$12.88	$14.26	$13.76	$9.94	$9.05	$8.75	$7.62	$6.51	$9.83	N/A
End of period	$13.04	$12.88	$14.26	$13.76	$9.94	$9.05	$8.75	$7.62	$6.51	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Mellon Capital S&P 400 MidCap Index Division
Accumulation unit value:
Beginning of period	$22.23	$23.19	$21.55	$16.45	$14.24	$14.77	$11.92	$8.76	$14.25	$13.47
End of period	$26.30	$22.23	$23.19	$21.55	$16.45	$14.24	$14.77	$11.92	$8.76	$14.25
Accumulation units outstanding at the end of period	1,903	2,059	2,038	2,045	2,060	2,049	3,135	3,314	3,320	3,698

JNL/Mellon Capital S&P 500 Index Division
Accumulation unit value:
Beginning of period	$18.43	$18.55	$16.65	$12.84	$11.30	$11.30	$10.03	$8.08	$12.97	$12.73
End of period	$20.22	$18.43	$18.55	$16.65	$12.84	$11.30	$11.30	$10.03	$8.08	$13.15
Accumulation units outstanding at the end of period	2,335	2,339	2,346	2,466	2,438	2,440	2,552	2,442	—	325

JNL/Mellon Capital S&P SMid 60 Division
Accumulation unit value:
Beginning of period	$15.09	$16.13	$15.82	$11.73	$10.46	$11.51	$9.67	$6.08	$8.84	N/A
End of period	$19.98	$15.09	$16.13	$15.82	$11.73	$10.46	$11.51	$9.67	$6.08	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Mellon Capital Small Cap Index Division
Accumulation unit value:
Beginning of period	$18.83	$20.03	$19.43	$14.25	$12.48	$13.24	$10.64	$8.48	$13.23	$13.72
End of period	$23.35	$18.83	$20.03	$19.43	$14.25	$12.48	$13.24	$10.64	$8.48	$13.23
Accumulation units outstanding at the end of period	3,472	3,745	3,722	3,594	3,732	3,671	4,237	4,429	2,341	2,828

JNL/Mellon Capital Technology Sector Division
Accumulation unit value:
Beginning of period	$20.04	$19.48	$16.39	$13.19	$12.04	$12.26	$11.10	$6.88	$12.34	$10.94
End of period	$22.36	$20.04	$19.48	$16.39	$13.19	$12.04	$12.26	$11.10	$6.88	$12.34
Accumulation units outstanding at the end of period	455	452	480	541	508	476	498	488	550	544

JNL/Morgan Stanley Mid Cap Growth Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/Neuberger Berman Strategic Income Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/Oppenheimer Global Growth Division
Accumulation unit value:
Beginning of period	$21.27	$20.81	$20.72	$16.66	$14.03	$15.52	$13.66	$9.94	$17.07	$16.30
End of period	$20.98	$21.27	$20.81	$20.72	$16.66	$14.03	$15.52	$13.66	$9.94	$17.07
Accumulation units outstanding at the end of period	2,689	2,369	2,368	2,337	2,271	2,283	3,180	3,440	3,506	3,167

JNL/PIMCO Credit Income Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/PIMCO Real Return Division
Accumulation unit value:
Beginning of period	$12.99	$13.61	$13.37	$14.94	$13.98	$12.71	$11.97	$10.37	$10.93	N/A
End of period	$13.46	$12.99	$13.61	$13.37	$14.94	$13.98	$12.71	$11.97	$10.37	N/A
Accumulation units outstanding at the end of period	—	—	—	—	755	755	836	—	—	N/A

JNL/PIMCO Total Return Bond Division
Accumulation unit value:
Beginning of period	$16.80	$16.99	$16.58	$17.19	$16.15	$15.63	$14.75	$12.97	$13.12	$12.30
End of period	$17.00	$16.80	$16.99	$16.58	$17.19	$16.15	$15.63	$14.75	$12.97	$13.12
Accumulation units outstanding at the end of period	1,910	1,951	1,995	2,037	2,338	2,221	2,575	5,992	4,645	1,962

JNL/PPM America Floating Rate Income Division
Accumulation unit value:
Beginning of period	$10.45	$10.75	$10.88	$10.54	N/A	N/A	N/A	N/A	N/A	N/A
End of period	$11.26	$10.45	$10.75	$10.88	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	230	233	232	219	N/A	N/A	N/A	N/A	N/A	N/A

JNL/PPM America High Yield Bond Division
Accumulation unit value:
Beginning of period	$15.51	$16.91	$17.14	$16.08	$13.98	$13.56	$11.90	$8.26	$12.11	$12.43
End of period	$17.88	$15.51	$16.91	$17.14	$16.08	$13.98	$13.56	$11.90	$8.26	$12.11
Accumulation units outstanding at the end of period	146	155	147	140	—	—	—	381	381	—

JNL/PPM America Mid Cap Value Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/PPM America Small Cap Value Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/PPM America Total Return Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/PPM America Value Equity Division
Accumulation unit value:
Beginning of period	$13.38	$14.88	$13.42	$9.72	$8.53	$9.14	$7.90	$5.55	$10.66	$11.47
End of period	$16.03	$13.38	$14.88	$13.42	$9.72	$8.53	$9.14	$7.90	$5.55	$10.66
Accumulation units outstanding at the end of period	612	612	613	613	613	614	2,985	2,986	6,344	19,286

JNL/Red Rocks Listed Private Equity Division
Accumulation unit value:
Beginning of period	$14.34	$14.62	$14.75	$10.57	$8.23	$10.19	$8.19	$5.92	N/A	N/A
End of period	$15.29	$14.34	$14.62	$14.75	$10.57	$8.23	$10.19	$8.19	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	7,159	—	—	N/A	N/A

JNL/S&P 4 Division
Accumulation unit value:
Beginning of period	$18.64	$19.93	$17.68	$12.50	$10.92	$10.47	$9.34	$6.68	$9.92	N/A
End of period	$20.26	$18.64	$19.93	$17.68	$12.50	$10.92	$10.47	$9.34	$6.68	N/A
Accumulation units outstanding at the end of period	176	179	—	—	—	—	—	—	—	N/A

JNL/S&P Competitive Advantage Division
Accumulation unit value:
Beginning of period	$20.69	$20.76	$19.15	$13.59	$11.83	$10.87	$9.80	$6.90	$9.91	N/A
End of period	$21.55	$20.69	$20.76	$19.15	$13.59	$11.83	$10.87	$9.80	$6.90	N/A
Accumulation units outstanding at the end of period	212	204	220	229	37	37	—	—	—	N/A

JNL/S&P Dividend Income & Growth Division
Accumulation unit value:
Beginning of period	$17.78	$17.92	$16.00	$12.42	$11.18	$10.09	$8.67	$7.13	$9.76	N/A
End of period	$20.62	$17.78	$17.92	$16.00	$12.42	$11.18	$10.09	$8.67	$7.13	N/A
Accumulation units outstanding at the end of period	839	888	926	973	809	78	—	—	—	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/S&P Intrinsic Value Division
Accumulation unit value:
Beginning of period	$18.77	$22.11	$19.02	$12.87	$11.46	$10.92	$9.69	$6.26	$9.92	N/A
End of period	$19.46	$18.77	$22.11	$19.02	$12.87	$11.46	$10.92	$9.69	$6.26	N/A
Accumulation units outstanding at the end of period	—	—	—	—	73	73	—	—	—	N/A

JNL/S&P Managed Aggressive Growth Division
Accumulation unit value:
Beginning of period	$17.73	$18.04	$17.18	$13.87	$12.15	$12.96	$11.23	$8.70	$14.52	$13.50
End of period	$18.51	$17.73	$18.04	$17.18	$13.87	$12.15	$12.96	$11.23	$8.70	$14.52
Accumulation units outstanding at the end of period	264	266	268	270	273	9,131	3,299	3,267	7,009	8,989

JNL/S&P Managed Conservative Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/S&P Managed Growth Division
Accumulation unit value:
Beginning of period	$17.25	$17.54	$16.86	$13.96	$12.29	$12.88	$11.26	$8.93	$14.02	$13.09
End of period	$18.00	$17.25	$17.54	$16.86	$13.96	$12.29	$12.88	$11.26	$8.93	$14.02
Accumulation units outstanding at the end of period	259	254	258	260	68	69	3,028	2,957	2,960	7,910

JNL/S&P Managed Moderate Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/S&P Managed Moderate Growth Division
Accumulation unit value:
Beginning of period	$16.33	$16.71	$16.23	$14.22	$12.69	$13.05	$11.70	$9.62	$13.48	$12.59
End of period	$16.99	$16.33	$16.71	$16.23	$14.22	$12.69	$13.05	$11.70	$9.62	$13.48
Accumulation units outstanding at the end of period	4,657	4,876	5,096	5,314	6,367	13,818	25,238	27,774	59,820	73,550



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/S&P MID 3 Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/S&P Total Yield Division
Accumulation unit value:
Beginning of period	$16.88	$18.57	$16.27	$10.89	$9.07	$9.73	$8.98	$6.38	$10.06	N/A
End of period	$18.73	$16.88	$18.57	$16.27	$10.89	$9.07	$9.73	$8.98	$6.38	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/T. Rowe Price Established Growth Division
Accumulation unit value:
Beginning of period	$23.13	$21.21	$19.80	$14.50	$12.39	$12.72	$11.06	$7.82	$13.90	$12.81
End of period	$23.11	$23.13	$21.21	$19.80	$14.50	$12.39	$12.72	$11.06	$7.82	$13.90
Accumulation units outstanding at the end of period	2,171	2,007	2,199	2,242	2,320	2,340	5,643	9,745	9,794	5,678

JNL/T. Rowe Price Mid-Cap Growth Division
Accumulation unit value:
Beginning of period	$30.25	$28.84	$25.95	$19.29	$17.24	$17.76	$14.10	$9.75	$16.67	$14.44
End of period	$31.61	$30.25	$28.84	$25.95	$19.29	$17.24	$17.76	$14.10	$9.75	$16.67
Accumulation units outstanding at the end of period	1,914	1,914	1,924	1,932	1,818	1,819	1,819	2,252	2,254	2,038

JNL/T. Rowe Price Short-Term Bond Division
Accumulation unit value:
Beginning of period	$10.20	$10.32	$10.43	$10.58	$10.48	$10.50	$10.35	$9.76	$10.57	$10.21
End of period	$10.19	$10.20	$10.32	$10.43	$10.58	$10.48	$10.50	$10.35	$9.76	$10.54
Accumulation units outstanding at the end of period	—	—	—	—	433	433	—	—	—	—

JNL/T. Rowe Price Value Division
Accumulation unit value:
Beginning of period	$20.73	$21.43	$19.21	$14.22	$12.10	$12.54	$10.99	$8.13	$13.87	$13.96
End of period	$22.63	$20.73	$21.43	$19.21	$14.22	$12.10	$12.54	$10.99	$8.13	$13.87
Accumulation units outstanding at the end of period	2,234	2,239	2,175	2,290	2,381	2,446	6,681	6,565	6,527	6,549



Accumulation Unit Values
Base Contract - 1.50%

Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL Alt 65 Division
Accumulation unit value:
Beginning of period	$16.77	$17.34	$17.32	$16.06	$14.69	$15.77	$13.82	N/A	N/A	N/A
End of period	$17.06	$16.77	$17.34	$17.32	$16.06	$14.69	$15.77	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	N/A	N/A	N/A

JNL Disciplined Growth Division
Accumulation unit value:
Beginning of period	$11.26	$11.74	$11.35	$9.29	$8.23	$8.62	$7.77	$6.29	$10.50	N/A
End of period	$11.99	$11.26	$11.74	$11.35	$9.29	$8.23	$8.62	$7.77	$6.29	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL Disciplined Moderate Division
Accumulation unit value:
Beginning of period	$12.52	$12.94	$12.47	$10.81	$9.68	$9.76	$8.92	$7.63	$10.55	N/A
End of period	$13.23	$12.52	$12.94	$12.47	$10.81	$9.68	$9.76	$8.92	$7.63	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL Disciplined Moderate Growth Division
Accumulation unit value:
Beginning of period	$12.11	$12.54	$12.12	$10.02	$8.91	$9.12	$8.18	$6.76	$10.52	N/A
End of period	$12.82	$12.11	$12.54	$12.12	$10.02	$8.91	$9.12	$8.18	$6.76	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL Institutional Alt 20 Division
Accumulation unit value:
Beginning of period	$16.03	$16.65	$16.53	$14.74	$13.46	$14.02	$12.59	N/A	N/A	N/A
End of period	$16.75	$16.03	$16.65	$16.53	$14.74	$13.46	$14.02	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL Institutional Alt 35 Division
Accumulation unit value:
Beginning of period	$16.41	$17.05	$16.98	$15.33	$13.98	$14.75	$13.09	N/A	N/A	N/A
End of period	$17.01	$16.41	$17.05	$16.98	$15.33	$13.98	$14.75	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	N/A	N/A	N/A

JNL Institutional Alt 50 Division
Accumulation unit value:
Beginning of period	$16.41	$17.01	$16.95	$15.59	$14.27	$15.19	$13.42	N/A	N/A	N/A
End of period	$16.83	$16.41	$17.01	$16.95	$15.59	$14.27	$15.19	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	N/A	N/A	N/A

JNL Multi-Manager Mid Cap Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL Multi-Manager Small Cap Growth Division
Accumulation unit value:
Beginning of period	$21.48	$22.87	$22.58	$17.57	$15.67	$16.28	$12.19	$9.13	$15.02	$13.60
End of period	$22.37	$21.48	$22.87	$22.58	$17.57	$15.67	$16.28	$12.19	$9.13	$15.02
Accumulation units outstanding at the end of period	114	112	112	109	—	—	428	428	428	428

JNL Multi-Manager Small Cap Value Division
Accumulation unit value:
Beginning of period	$13.95	$15.64	$15.85	$11.97	$10.33	$10.78	$8.63	$6.56	N/A	N/A
End of period	$17.01	$13.95	$15.64	$15.85	$11.97	$10.33	$10.78	$8.63	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	293	N/A	N/A

JNL/American Funds Balanced Allocation Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/American Funds Blue Chip Income and Growth Division
Accumulation unit value:
Beginning of period	$15.74	$16.53	$14.59	$11.18	$10.01	$10.29	N/A	N/A	N/A	N/A
End of period	$18.35	$15.74	$16.53	$14.59	$11.18	$10.01	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/American Funds Global Bond Division
Accumulation unit value:
Beginning of period	$9.96	$10.56	$10.60	$11.08	$10.63	$10.35	N/A	N/A	N/A	N/A
End of period	$10.04	$9.96	$10.56	$10.60	$11.08	$10.63	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	116	116	N/A	N/A	N/A	N/A

JNL/American Funds Global Small Capitalization Division
Accumulation unit value:
Beginning of period	$12.66	$12.86	$12.82	$10.18	$8.76	$11.04	N/A	N/A	N/A	N/A
End of period	$12.69	$12.66	$12.86	$12.82	$10.18	$8.76	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/American Funds Growth Allocation Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/American Funds Growth-Income Division
Accumulation unit value:
Beginning of period	$16.22	$16.30	$15.02	$11.47	$9.96	$10.35	N/A	N/A	N/A	N/A
End of period	$17.75	$16.22	$16.30	$15.02	$11.47	$9.96	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/American Funds International Division
Accumulation unit value:
Beginning of period	$11.19	$11.94	$12.50	$10.48	$9.06	$10.74	N/A	N/A	N/A	N/A
End of period	$11.37	$11.19	$11.94	$12.50	$10.48	$9.06	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/American Funds New World Division
Accumulation unit value:
Beginning of period	$10.30	$10.84	$11.99	$10.98	$9.50	$11.25	N/A	N/A	N/A	N/A
End of period	$10.65	$10.30	$10.84	$11.99	$10.98	$9.50	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/AQR Managed Futures Strategy Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/BlackRock Global Allocation Division
Accumulation unit value:
Beginning of period	$11.59	$11.92	$11.88	$10.55	$9.77	$10.32	N/A	N/A	N/A	N/A
End of period	$11.87	$11.59	$11.92	$11.88	$10.55	$9.77	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	523	507	502	490	169	169	N/A	N/A	N/A	N/A

JNL/BlackRock Global Natural Resources Division
Accumulation unit value:
Beginning of period	$6.98	$9.29	$11.00	$10.19	$10.27	$11.25	$9.72	$6.58	$13.70	N/A
End of period	$8.70	$6.98	$9.29	$11.00	$10.19	$10.27	$11.25	$9.72	$6.58	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/BlackRock Large Cap Select Growth Division
Accumulation unit value:
Beginning of period	$10.59	$10.12	$9.43	$6.89	$6.32	$6.37	$5.74	$4.32	$7.31	$6.86
End of period	$10.48	$10.59	$10.12	$9.43	$6.89	$6.32	$6.37	$5.74	$4.32	$7.42
Accumulation units outstanding at the end of period	3,367	—	—	—	—	—	—	—	—	921

JNL/Brookfield Global Infrastructure and MLP Division
Accumulation unit value:
Beginning of period	$12.49	$15.56	$14.71	$12.10	$10.35	N/A	N/A	N/A	N/A	N/A
End of period	$13.85	$12.49	$15.56	$14.71	$12.10	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	N/A	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Capital Guardian Global Balanced Division
Accumulation unit value:
Beginning of period	$14.33	$14.77	$14.91	$13.10	$11.76	$12.54	$11.67	$9.68	$13.68	$12.88
End of period	$14.92	$14.33	$14.77	$14.91	$13.10	$11.76	$12.54	$11.67	$9.68	$13.70
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Causeway International Value Select Division
Accumulation unit value:
Beginning of period	$14.77	$15.54	$17.64	$14.74	$12.77	$14.88	$14.04	$10.95	$20.02	$18.15
End of period	$14.55	$14.77	$15.54	$17.64	$14.74	$12.77	$14.88	$14.04	$10.95	$20.02
Accumulation units outstanding at the end of period	3,745	3,537	3,367	3,119	3,004	2,956	3,801	3,644	3,653	3,530

JNL/Crescent High Income Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/DFA U.S. Core Equity Division
Accumulation unit value:
Beginning of period	$15.92	$16.50	$15.25	$11.46	$10.23	$10.47	$9.50	$7.21	$12.00	$12.11
End of period	$17.88	$15.92	$16.50	$15.25	$11.46	$10.23	$10.47	$9.50	$7.21	$12.00
Accumulation units outstanding at the end of period	2,673	2,674	2,674	2,674	2,674	2,675	2,675	2,675	2,677	2,678

JNL/DoubleLine Total Return Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/FPA + Doubleline Flexible Allocation Division
Accumulation unit value:
Beginning of period	$12.17	$13.60	$14.38	$11.81	$10.22	$11.22	$10.37	N/A	N/A	N/A
End of period	$12.43	$12.17	$13.60	$14.38	$11.81	$10.22	$11.22	N/A	N/A	N/A
Accumulation units outstanding at the end of period	416	400	365	343	118	118	118	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Franklin Templeton Founding Strategy Division
Accumulation unit value:
Beginning of period	$11.05	$11.96	$11.82	$9.68	$8.48	$8.72	$8.02	$6.26	$9.95	N/A
End of period	$12.35	$11.05	$11.96	$11.82	$9.68	$8.48	$8.72	$8.02	$6.26	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Franklin Templeton Global Growth Division
Accumulation unit value:
Beginning of period	$9.99	$10.84	$11.27	$8.77	$7.30	$7.89	$7.48	$5.80	$9.92	N/A
End of period	$10.88	$9.99	$10.84	$11.27	$8.77	$7.30	$7.89	$7.48	$5.80	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Franklin Templeton Global Multisector Bond Division
Accumulation unit value:
Beginning of period	$11.03	$11.68	$11.91	$11.67	$10.05	N/A	N/A	N/A	N/A	N/A
End of period	$11.28	$11.03	$11.68	$11.91	$11.67	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	N/A	N/A	N/A	N/A	N/A

JNL/Franklin Templeton Income Division
Accumulation unit value:
Beginning of period	$12.76	$13.98	$13.75	$12.24	$11.07	$10.96	$9.88	$7.55	$10.87	$10.87
End of period	$14.34	$12.76	$13.98	$13.75	$12.24	$11.07	$10.96	$9.88	$7.55	$10.90
Accumulation units outstanding at the end of period	293	305	287	281	232	233	246	—	—	—

JNL/Franklin Templeton International Small Cap Growth Division
Accumulation unit value:
Beginning of period	$10.06	$9.84	$11.02	$8.45	$6.74	$7.99	$6.73	$4.48	$9.86	N/A
End of period	$9.79	$10.06	$9.84	$11.02	$8.45	$6.74	$7.99	$6.73	$4.48	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Franklin Templeton Mutual Shares Division
Accumulation unit value:
Beginning of period	$11.39	$12.12	$11.47	$9.08	$8.11	$8.28	$7.54	$6.04	$9.87	N/A
End of period	$12.98	$11.39	$12.12	$11.47	$9.08	$8.11	$8.28	$7.54	$6.04	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	3,955	3,955	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Goldman Sachs Core Plus Bond Division
Accumulation unit value:
Beginning of period	$15.63	$15.81	$15.23	$15.62	$14.71	$14.06	$13.26	$11.79	$12.62	$11.97
End of period	$15.72	$15.63	$15.81	$15.23	$15.62	$14.71	$14.06	$13.26	$11.79	$12.62
Accumulation units outstanding at the end of period	—	—	—	—	—	—	5,993	6,775	6,776	6,602

JNL/Goldman Sachs Emerging Markets Debt Division
Accumulation unit value:
Beginning of period	$10.89	$12.61	$13.47	$14.84	$12.55	$13.36	$11.68	$9.65	N/A	N/A
End of period	$11.70	$10.89	$12.61	$13.47	$14.84	$12.55	$13.36	$11.68	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	100	—	N/A	N/A

JNL/Goldman Sachs Mid Cap Value Division
Accumulation unit value:
Beginning of period	$16.65	$18.56	$16.65	$12.74	$10.96	$11.90	N/A	N/A	N/A	N/A
End of period	$18.63	$16.65	$18.56	$16.65	$12.74	$10.96	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

JNL/Goldman Sachs U.S. Equity Flex Division
Accumulation unit value:
Beginning of period	$12.88	$13.31	$11.86	$8.97	$7.61	$8.65	$8.08	$6.57	$10.56	N/A
End of period	$13.70	$12.88	$13.31	$11.86	$8.97	$7.61	$8.65	$8.08	$6.57	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Invesco China-India Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/Invesco Global Real Estate Division
Accumulation unit value:
Beginning of period	$12.94	$13.26	$11.71	$11.56	$9.15	$9.91	$8.58	$6.57	$10.38	$12.40
End of period	$13.06	$12.94	$13.26	$11.71	$11.56	$9.15	$9.91	$8.58	$6.57	$10.38
Accumulation units outstanding at the end of period	1,065	996	973	1,021	597	647	621	608	608	603



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Invesco International Growth Division
Accumulation unit value:
Beginning of period	$13.20	$13.68	$13.85	$11.82	$10.36	$11.30	$10.21	$7.57	$13.00	$12.02
End of period	$12.85	$13.20	$13.68	$13.85	$11.82	$10.36	$11.30	$10.21	$7.57	$13.00
Accumulation units outstanding at the end of period	909	909	909	909	909	909	909	909	909	4,188

JNL/Invesco Mid Cap Value Division
Accumulation unit value:
Beginning of period	$21.98	$24.54	$22.80	$17.68	$16.66	$17.92	$14.78	$10.75	$17.87	$18.63
End of period	$24.98	$21.98	$24.54	$22.80	$17.68	$16.66	$17.92	$14.78	$10.75	$17.87
Accumulation units outstanding at the end of period	1,333	1,333	1,333	1,333	1,333	1,333	2,104	2,104	2,105	2,105

JNL/Invesco Small Cap Growth Division
Accumulation unit value:
Beginning of period	$22.44	$23.19	$21.80	$15.84	$13.67	$14.06	$11.31	$8.52	$14.10	$13.08
End of period	$24.65	$22.44	$23.19	$21.80	$15.84	$13.67	$14.06	$11.31	$8.52	$14.35
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/JPMorgan MidCap Growth Division
Accumulation unit value:
Beginning of period	$22.40	$22.07	$20.15	$14.40	$12.58	$13.57	$10.96	$7.79	$14.03	$13.38
End of period	$22.18	$22.40	$22.07	$20.15	$14.40	$12.58	$13.57	$10.96	$7.79	$14.23
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/JPMorgan U.S. Government & Quality Bond Division
Accumulation unit value:
Beginning of period	$13.60	$13.74	$13.23	$13.92	$13.64	$12.60	$11.92	$11.67	$11.21	$10.61
End of period	$13.59	$13.60	$13.74	$13.23	$13.92	$13.64	$12.60	$11.92	$11.67	$11.12
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	1,627	—	—

JNL/Lazard Emerging Markets Division
Accumulation unit value:
Beginning of period	$10.04	$12.53	$13.42	$13.78	$11.44	$14.13	$11.76	$6.95	$14.02	$10.88
End of period	$11.79	$10.04	$12.53	$13.42	$13.78	$11.44	$14.13	$11.76	$6.95	$14.13
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Mellon Capital 10 x 10 Division
Accumulation unit value:
Beginning of period	$12.36	$12.83	$12.03	$9.57	$8.37	$8.68	$7.57	$6.17	$9.82	N/A
End of period	$13.64	$12.36	$12.83	$12.03	$9.57	$8.37	$8.68	$7.57	$6.17	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Mellon Capital Bond Index Division
Accumulation unit value:
Beginning of period	$12.95	$13.16	$12.65	$13.20	$12.94	$12.25	$11.75	$11.28	$11.11	$10.53
End of period	$13.00	$12.95	$13.16	$12.65	$13.20	$12.94	$12.25	$11.75	$11.28	$11.04
Accumulation units outstanding at the end of period	—	—	—	—	710	710	778	—	—	319

JNL/Mellon Capital Communications Sector Division
Accumulation unit value:
Beginning of period	$21.45	$21.20	$20.39	$17.11	$14.43	$15.13	$12.53	$10.13	$16.77	$16.58
End of period	$26.11	$21.45	$21.20	$20.39	$17.11	$14.43	$15.13	$12.53	$10.13	$17.04
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Mellon Capital Consumer Brands Sector Division
Accumulation unit value:
Beginning of period	$23.51	$22.54	$20.65	$14.85	$12.21	$11.64	$9.62	$7.34	$10.62	$11.94
End of period	$24.59	$23.51	$22.54	$20.65	$14.85	$12.21	$11.64	$9.62	$7.34	$10.84
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Mellon Capital Emerging Markets Index Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/Mellon Capital European 30 Division
Accumulation unit value:
Beginning of period	$13.88	$14.37	$15.10	$11.74	$10.97	$12.02	$11.94	$8.60	N/A	N/A
End of period	$13.42	$13.88	$14.37	$15.10	$11.74	$10.97	$12.02	$11.94	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Mellon Capital Financial Sector Division
Accumulation unit value:
Beginning of period	$11.06	$11.35	$10.19	$7.76	$6.24	$7.28	$6.51	$5.57	$11.21	$14.07
End of period	$13.52	$11.06	$11.35	$10.19	$7.76	$6.24	$7.28	$6.51	$5.57	$11.46
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Mellon Capital Healthcare Sector Division
Accumulation unit value:
Beginning of period	$25.89	$24.66	$20.01	$14.42	$12.34	$11.30	$11.04	$9.27	$12.17	$11.56
End of period	$24.53	$25.89	$24.66	$20.01	$14.42	$12.34	$11.30	$11.04	$9.27	$12.25
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	—

JNL/Mellon Capital Index 5 Division
Accumulation unit value:
Beginning of period	$12.78	$13.17	$12.70	$10.42	$9.28	$9.62	$8.43	$6.84	$9.90	N/A
End of period	$14.09	$12.78	$13.17	$12.70	$10.42	$9.28	$9.62	$8.43	$6.84	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Mellon Capital International Index Division
Accumulation unit value:
Beginning of period	$14.35	$14.73	$15.92	$13.31	$11.45	$13.25	$12.59	$9.88	$17.53	$16.17
End of period	$14.25	$14.35	$14.73	$15.92	$13.31	$11.45	$13.25	$12.59	$9.88	$17.58
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	322

JNL/Mellon Capital JNL 5 Division
Accumulation unit value:
Beginning of period	$15.85	$16.59	$15.13	$11.66	$10.03	$10.39	$9.01	$7.37	$13.01	$13.02
End of period	$17.51	$15.85	$16.59	$15.13	$11.66	$10.03	$10.39	$9.01	$7.37	$13.01
Accumulation units outstanding at the end of period	3,718	3,720	3,722	3,724	3,726	3,729	22,254	22,258	22,262	22,266

JNL/Mellon Capital NASDAQ 100 Division
Accumulation unit value:
Beginning of period	$17.40	$17.41	$14.93	$10.74	$9.11	$9.07	$7.85	$5.94	$10.32	N/A
End of period	$18.50	$17.40	$17.41	$14.93	$10.74	$9.11	$9.07	$7.85	$5.94	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Mellon Capital Oil & Gas Sector Division
Accumulation unit value:
Beginning of period	$21.67	$28.66	$32.45	$26.28	$25.57	$25.13	$21.42	$18.11	$29.58	$22.20
End of period	$27.15	$21.67	$28.66	$32.45	$26.28	$25.57	$25.13	$21.42	$18.11	$29.58
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	1,844	1,941

JNL/Mellon Capital Pacific Rim 30 Division
Accumulation unit value:
Beginning of period	$16.20	$15.66	$15.40	$13.88	$12.58	$13.01	$11.70	$9.57	N/A	N/A
End of period	$17.49	$16.20	$15.66	$15.40	$13.88	$12.58	$13.01	$11.70	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	N/A	N/A

JNL/Mellon Capital S&P 24 Division
Accumulation unit value:
Beginning of period	$12.88	$14.26	$13.76	$9.94	$9.05	$8.75	$7.62	$6.51	$9.83	N/A
End of period	$13.04	$12.88	$14.26	$13.76	$9.94	$9.05	$8.75	$7.62	$6.51	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/Mellon Capital S&P 400 MidCap Index Division
Accumulation unit value:
Beginning of period	$22.23	$23.19	$21.55	$16.45	$14.24	$14.77	$11.92	$8.76	$14.25	$13.47
End of period	$26.30	$22.23	$23.19	$21.55	$16.45	$14.24	$14.77	$11.92	$8.76	$14.25
Accumulation units outstanding at the end of period	1,903	2,059	2,038	2,045	2,060	2,049	3,135	3,314	3,320	3,698

JNL/Mellon Capital S&P 500 Index Division
Accumulation unit value:
Beginning of period	$18.43	$18.55	$16.65	$12.84	$11.30	$11.30	$10.03	$8.08	$12.97	$12.73
End of period	$20.22	$18.43	$18.55	$16.65	$12.84	$11.30	$11.30	$10.03	$8.08	$13.15
Accumulation units outstanding at the end of period	2,335	2,339	2,346	2,466	2,438	2,440	2,552	2,442	—	325

JNL/Mellon Capital S&P SMid 60 Division
Accumulation unit value:
Beginning of period	$15.09	$16.13	$15.82	$11.73	$10.46	$11.51	$9.67	$6.08	$8.84	N/A
End of period	$19.98	$15.09	$16.13	$15.82	$11.73	$10.46	$11.51	$9.67	$6.08	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/Mellon Capital Small Cap Index Division
Accumulation unit value:
Beginning of period	$18.83	$20.03	$19.43	$14.25	$12.48	$13.24	$10.64	$8.48	$13.23	$13.72
End of period	$23.35	$18.83	$20.03	$19.43	$14.25	$12.48	$13.24	$10.64	$8.48	$13.23
Accumulation units outstanding at the end of period	3,472	3,745	3,722	3,594	3,732	3,671	4,237	4,429	2,341	2,828

JNL/Mellon Capital Technology Sector Division
Accumulation unit value:
Beginning of period	$20.04	$19.48	$16.39	$13.19	$12.04	$12.26	$11.10	$6.88	$12.34	$10.94
End of period	$22.36	$20.04	$19.48	$16.39	$13.19	$12.04	$12.26	$11.10	$6.88	$12.34
Accumulation units outstanding at the end of period	455	452	480	541	508	476	498	488	550	544

JNL/Morgan Stanley Mid Cap Growth Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/Neuberger Berman Strategic Income Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/Oppenheimer Global Growth Division
Accumulation unit value:
Beginning of period	$21.27	$20.81	$20.72	$16.66	$14.03	$15.52	$13.66	$9.94	$17.07	$16.30
End of period	$20.98	$21.27	$20.81	$20.72	$16.66	$14.03	$15.52	$13.66	$9.94	$17.07
Accumulation units outstanding at the end of period	2,689	2,369	2,368	2,337	2,271	2,283	3,180	3,440	3,506	3,167

JNL/PIMCO Credit Income Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/PIMCO Real Return Division
Accumulation unit value:
Beginning of period	$12.99	$13.61	$13.37	$14.94	$13.98	$12.71	$11.97	$10.37	$10.93	N/A
End of period	$13.46	$12.99	$13.61	$13.37	$14.94	$13.98	$12.71	$11.97	$10.37	N/A
Accumulation units outstanding at the end of period	—	—	—	—	755	755	836	—	—	N/A

JNL/PIMCO Total Return Bond Division
Accumulation unit value:
Beginning of period	$16.80	$16.99	$16.58	$17.19	$16.15	$15.63	$14.75	$12.97	$13.12	$12.30
End of period	$17.00	$16.80	$16.99	$16.58	$17.19	$16.15	$15.63	$14.75	$12.97	$13.12
Accumulation units outstanding at the end of period	1,910	1,951	1,995	2,037	2,338	2,221	2,575	5,992	4,645	1,962

JNL/PPM America Floating Rate Income Division
Accumulation unit value:
Beginning of period	$10.45	$10.75	$10.88	$10.54	N/A	N/A	N/A	N/A	N/A	N/A
End of period	$11.26	$10.45	$10.75	$10.88	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	230	233	232	219	N/A	N/A	N/A	N/A	N/A	N/A

JNL/PPM America High Yield Bond Division
Accumulation unit value:
Beginning of period	$15.51	$16.91	$17.14	$16.08	$13.98	$13.56	$11.90	$8.26	$12.11	$12.43
End of period	$17.88	$15.51	$16.91	$17.14	$16.08	$13.98	$13.56	$11.90	$8.26	$12.11
Accumulation units outstanding at the end of period	146	155	147	140	—	—	—	381	381	—

JNL/PPM America Mid Cap Value Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/PPM America Small Cap Value Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/PPM America Total Return Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/PPM America Value Equity Division
Accumulation unit value:
Beginning of period	$13.38	$14.88	$13.42	$9.72	$8.53	$9.14	$7.90	$5.55	$10.66	$11.47
End of period	$16.03	$13.38	$14.88	$13.42	$9.72	$8.53	$9.14	$7.90	$5.55	$10.66
Accumulation units outstanding at the end of period	612	612	613	613	613	614	2,985	2,986	6,344	19,286

JNL/Red Rocks Listed Private Equity Division
Accumulation unit value:
Beginning of period	$14.34	$14.62	$14.75	$10.57	$8.23	$10.19	$8.19	$5.92	N/A	N/A
End of period	$15.29	$14.34	$14.62	$14.75	$10.57	$8.23	$10.19	$8.19	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	7,159	—	—	N/A	N/A

JNL/S&P 4 Division
Accumulation unit value:
Beginning of period	$18.64	$19.93	$17.68	$12.50	$10.92	$10.47	$9.34	$6.68	$9.92	N/A
End of period	$20.26	$18.64	$19.93	$17.68	$12.50	$10.92	$10.47	$9.34	$6.68	N/A
Accumulation units outstanding at the end of period	176	179	—	—	—	—	—	—	—	N/A

JNL/S&P Competitive Advantage Division
Accumulation unit value:
Beginning of period	$20.69	$20.76	$19.15	$13.59	$11.83	$10.87	$9.80	$6.90	$9.91	N/A
End of period	$21.55	$20.69	$20.76	$19.15	$13.59	$11.83	$10.87	$9.80	$6.90	N/A
Accumulation units outstanding at the end of period	212	204	220	229	37	37	—	—	—	N/A

JNL/S&P Dividend Income & Growth Division
Accumulation unit value:
Beginning of period	$17.78	$17.92	$16.00	$12.42	$11.18	$10.09	$8.67	$7.13	$9.76	N/A
End of period	$20.62	$17.78	$17.92	$16.00	$12.42	$11.18	$10.09	$8.67	$7.13	N/A
Accumulation units outstanding at the end of period	839	888	926	973	809	78	—	—	—	N/A



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/S&P Intrinsic Value Division
Accumulation unit value:
Beginning of period	$18.77	$22.11	$19.02	$12.87	$11.46	$10.92	$9.69	$6.26	$9.92	N/A
End of period	$19.46	$18.77	$22.11	$19.02	$12.87	$11.46	$10.92	$9.69	$6.26	N/A
Accumulation units outstanding at the end of period	—	—	—	—	73	73	—	—	—	N/A

JNL/S&P Managed Aggressive Growth Division
Accumulation unit value:
Beginning of period	$17.73	$18.04	$17.18	$13.87	$12.15	$12.96	$11.23	$8.70	$14.52	$13.50
End of period	$18.51	$17.73	$18.04	$17.18	$13.87	$12.15	$12.96	$11.23	$8.70	$14.52
Accumulation units outstanding at the end of period	264	266	268	270	273	9,131	3,299	3,267	7,009	8,989

JNL/S&P Managed Conservative Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/S&P Managed Growth Division
Accumulation unit value:
Beginning of period	$17.25	$17.54	$16.86	$13.96	$12.29	$12.88	$11.26	$8.93	$14.02	$13.09
End of period	$18.00	$17.25	$17.54	$16.86	$13.96	$12.29	$12.88	$11.26	$8.93	$14.02
Accumulation units outstanding at the end of period	259	254	258	260	68	69	3,028	2,957	2,960	7,910

JNL/S&P Managed Moderate Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/S&P Managed Moderate Growth Division
Accumulation unit value:
Beginning of period	$16.33	$16.71	$16.23	$14.22	$12.69	$13.05	$11.70	$9.62	$13.48	$12.59
End of period	$16.99	$16.33	$16.71	$16.23	$14.22	$12.69	$13.05	$11.70	$9.62	$13.48
Accumulation units outstanding at the end of period	4,657	4,876	5,096	5,314	6,367	13,818	25,238	27,774	59,820	73,550



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/S&P MID 3 Division
Accumulation unit value:
Beginning of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
End of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

JNL/S&P Total Yield Division
Accumulation unit value:
Beginning of period	$16.88	$18.57	$16.27	$10.89	$9.07	$9.73	$8.98	$6.38	$10.06	N/A
End of period	$18.73	$16.88	$18.57	$16.27	$10.89	$9.07	$9.73	$8.98	$6.38	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	—	—	—	N/A

JNL/T. Rowe Price Established Growth Division
Accumulation unit value:
Beginning of period	$23.13	$21.21	$19.80	$14.50	$12.39	$12.72	$11.06	$7.82	$13.90	$12.81
End of period	$23.11	$23.13	$21.21	$19.80	$14.50	$12.39	$12.72	$11.06	$7.82	$13.90
Accumulation units outstanding at the end of period	2,171	2,007	2,199	2,242	2,320	2,340	5,643	9,745	9,794	5,678

JNL/T. Rowe Price Mid-Cap Growth Division
Accumulation unit value:
Beginning of period	$30.25	$28.84	$25.95	$19.29	$17.24	$17.76	$14.10	$9.75	$16.67	$14.44
End of period	$31.61	$30.25	$28.84	$25.95	$19.29	$17.24	$17.76	$14.10	$9.75	$16.67
Accumulation units outstanding at the end of period	1,914	1,914	1,924	1,932	1,818	1,819	1,819	2,252	2,254	2,038

JNL/T. Rowe Price Short-Term Bond Division
Accumulation unit value:
Beginning of period	$10.20	$10.32	$10.43	$10.58	$10.48	$10.50	$10.35	$9.76	$10.57	$10.21
End of period	$10.19	$10.20	$10.32	$10.43	$10.58	$10.48	$10.50	$10.35	$9.76	$10.54
Accumulation units outstanding at the end of period	—	—	—	—	433	433	—	—	—	—

JNL/T. Rowe Price Value Division
Accumulation unit value:
Beginning of period	$20.73	$21.43	$19.21	$14.22	$12.10	$12.54	$10.99	$8.13	$13.87	$13.96
End of period	$22.63	$20.73	$21.43	$19.21	$14.22	$12.10	$12.54	$10.99	$8.13	$13.87
Accumulation units outstanding at the end of period	2,234	2,239	2,175	2,290	2,381	2,446	6,681	6,565	6,527	6,549



Investment Divisions	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
JNL/WMC Balanced Division
Accumulation unit value:
Beginning of period	$18.43	$18.88	$17.45	$14.84	$13.68	$13.45	$12.32	$10.45	$13.38	$12.64
End of period	$20.12	$18.43	$18.88	$17.45	$14.84	$13.68	$13.45	$12.32	$10.45	$13.38
Accumulation units outstanding at the end of period	2,737	2,737	2,737	2,737	2,895	2,897	2,944	3,207	3,211	5,889

JNL/WMC Money Market Division
Accumulation unit value:
Beginning of period	$9.69	$9.84	$9.99	$10.14	$10.28	$10.44	$10.59	$10.74	$10.67	$10.34
End of period	$9.55	$9.69	$9.84	$9.99	$10.14	$10.28	$10.44	$10.59	$10.74	$10.67
Accumulation units outstanding at the end of period	—	—	—	—	80	80	—	3,363	3,366	—

JNL/WMC Value Division
Accumulation unit value:
Beginning of period	$17.08	$17.90	$16.32	$12.64	$11.03	$11.43	N/A	N/A	N/A	N/A
End of period	$19.09	$17.08	$17.90	$16.32	$12.64	$11.03	N/A	N/A	N/A	N/A
Accumulation units outstanding at the end of period	—	—	—	—	—	—	N/A	N/A	N/A	N/A

STATEMENT OF ADDITIONAL INFORMATION

April 24, 2017

PERSPECTIVE ADVISORS

FIXED AND VARIABLE ANNUITY^®

Issued by

Jackson National Life Insurance Company of New York^® through

JNLNY Separate Account II

This Statement of Additional Information is not a prospectus. It contains information in addition to and more detailed than set forth in the Prospectus and should be read in conjunction with the Prospectus dated April 24, 2017. The Prospectus may be obtained from Jackson National Life Insurance Company of New York (Jackson of NY^®) by writing P.O. Box 30313, Lansing, Michigan 48909-7813, or calling 1-800-599-5651.



TABLE OF CONTENTS
	Page
General Information and History	2
Services	9
Purchase of Securities Being Offered	10
Underwriters	10
Calculation of Performance	10
Additional Tax Information	12
Annuity Provisions	21
Net Investment Factors	22
Financial Statements of the Separate Account	Appendix A
Financial Statements of Jackson of NY	Appendix B

General Information and History

JNLNY Separate Account II (Separate Account) is a separate investment account of Jackson of New York. In September 1997, the company changed its name from First Jackson National Life Insurance Company to its present name. Jackson of NY is a wholly owned subsidiary of Jackson National Life Insurance Company (Jackson^®) and is ultimately a wholly-owned subsidiary of Prudential plc, London, England, a publicly traded insurance company in the United Kingdom.

Trademarks, Service Marks, and Related Disclosures

The JNL/Mellon Capital S&P^® SMid 60 Fund, JNL/Mellon Capital JNL 5 Fund, JNL/Mellon Capital S&P 500 Index Fund, JNL/Mellon S&P 400 MidCap Index Fund, the JNL/Mellon Capital Dow ^SM Index Fund, and JNL/Brookfield Global Infrastructure and MLP Fund (collectively, the “Products”) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, Standard & Poor’s Financial Services LLC, Brookfield or any of their respective affiliates (collectively, “S&P Dow Jones Indices”).

S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Products or any member of the public regarding the advisability of investing in securities generally or in the Products particularly or the ability of the Indices to track general market performance. S&P Dow Jones Indices’ only relationship to Jackson with respect to the Indices or the Products is the licensing of the Indices and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The Indices are determined, composed and calculated by S&P Dow Jones Indices without regard to Jackson or the Products. S&P Dow Jones Indices have no obligation to take the needs of Jackson or the owners of the Products into consideration in determining, composing or calculating the Indices. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of the Products or the timing of the issuance or sale of the Products in the determination or calculation of the equation by which the Products are to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing or trading of the Products. There is no assurance that investment products based on the Indices will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice. Notwithstanding the foregoing, CME Group Inc. and its affiliates may independently issue and/or sponsor financial products unrelated to Products currently being issued by Jackson, but which may be similar to and competitive with Products. In addition, CME Group Inc. and its affiliates may trade financial products which are linked to the performance of the Index.

TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS IN CALCULATING THE INDICES. S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY JACKSON OR OWNERS OF THE PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND JACKSON, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

SPDR^® is a registered trademark of Standard & Poor’s Financial Services LLC.

The following applies to the JNL/S&P Managed Growth Fund, JNL/S&P Managed Conservative Fund, JNL/S&P Managed Moderate Growth Fund, JNL/S&P Managed Moderate Fund, and JNL/S&P Managed Aggressive Growth Fund, JNL/S&P Competitive Advantage Fund, JNL/S&P Dividend Income & Growth Fund, JNL/S&P Total Yield Fund, JNL/S&P Intrinsic Value Fund, JNL/S&P Mid 3 Fund and JNL/S&P 4 Fund.

investors should realize that such information is provided to Jackson National Asset Management, LLC only as a general recommendation. There is no agreement or understanding whatsoever that SPIAS will provide individualized advice to any investor. The underlying funds of the JNL/S&P 4 Fund are sub-advised by SPIAS. SPIAS does not sub-advise the JNL/S&P 4 Fund. SPIAS does not take into account any information about any investor or any investor’s assets when providing investment advisory services to firms to which SPIAS provides services. SPIAS does not have any discretionary authority or control with respect to purchasing or selling securities or making other investments. Individual investors should ultimately rely on their own judgment and/or the judgment of a representative in making their investment decisions.

SPIAS and its affiliates (collectively, S&P Global) and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively S&P Global Parties) do not guarantee the accuracy, completeness, timeliness or availability of the Content. S&P Global Parties are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, for the results obtained from the use of the Content, or for the security or maintenance of any data input by the user. The Content is provided on an “as is” basis. S&P GLOBAL PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM BUGS, SOFTWARE ERRORS OR DEFECTS, THAT THE CONTENT’S FUNCTIONING WILL BE UNINTERRUPTED OR THAT THE CONTENT WILL OPERATE WITH ANY SOFTWARE OR HARDWARE CONFIGURATION. In no event shall S&P Global Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of the Content even if advised of the possibility of such damages.

The Funds are not sponsored, endorsed, sold or promoted by S&P and its affiliates and S&P and its affiliates make no representation regarding the advisability of investing in the Funds.

Goldman Sachs is a registered service mark of Goldman, Sachs & Co.

DoubleLine is a registered service mark of DoubleLine Capital LP.

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF THE NASDAQ-100^®OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S) OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ-100 INDEX^®OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM AL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ-100^®OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

“The Nasdaq-100^®,” “Nasdaq-100 Index^®,” “Nasdaq Stock Market^®” and “Nasdaq^®” are trade or service marks of The Nasdaq, Inc. (which with its affiliates are the “Corporations”) and have been licensed for use by Jackson. The Corporations have not passed on the legality or suitability of the JNL/Mellon Capital Nasdaq^®100 Fund. The JNL/Mellon Capital Nasdaq^® 100 Fund is not issued, endorsed, sponsored, managed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE JNL/MELLON CAPITAL NASDAQ^® 100 FUND.

Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell is a trademark of Russell Investment Group.

JNL/Mellon Capital Small Cap Index Fund is not promoted, sponsored or endorsed by, nor in any way affiliated with Russell Investment Group ("Russell"). Russell is not responsible for and has not reviewed JNL/Mellon Capital Small Cap Index Fund nor any associated literature or publications and Russell makes no representation or warranty, express or implied, as to their accuracy, or completeness, or otherwise.

Russell's publication of the Russell Indexes in no way suggests or implies an opinion by Russell as to the attractiveness or appropriateness of investment in any or all securities upon which the Russell Indexes are based. RUSSELL MAKES

NO REPRESENTATION, WARRANTY, OR GUARANTEE AS TO THE ACCURACY COMPLETENESS, RELIABILITY, OR OTHERWISE OF THE RUSSELL INDEXES. RUSSELL MAKES NO REPRESENTATION, WARRANTY OR GUARANTEE REGARDING THE USE, OR THE RESULTS OF USE, OF THE RUSSELL INDEXES OR ANY DATA INCLUDED THEREIN, OR ANY SECURITY (OR COMBINATION THEREOF) COMPRISING THE RUSSELL INDEXES. RUSSELL MAKES NO OTHER EXPRESS OR IMPLIED WARRANTY, AND EXPRESSLY DISCLAIMS ANY WARRANTY, OF ANY KIND, INCLUDING WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE RUSSELL INDEX(ES) OR ANY DATA OR ANY SECURITY (OR COMBINATION THEREOF) INCLUDED THEREIN.

THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND ARE NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY MSCI INC. (“MSCI”), ANY OF ITS AFFILIATES, ANY OF ITS INFORMATION PROVIDERS OR ANY OTHER THIRD PARTY INVOLVED IN, OR RELATED TO, COMPILING, COMPUTING OR CREATING ANY MSCI INDEX (COLLECTIVELY, THE “MSCI PARTIES”). THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES ARE SERVICE MARK(S) OF MSCI OR ITS AFFILIATES AND HAVE BEEN LICENSED FOR USE FOR CERTAIN PURPOSES BY JACKSON NATIONAL ASSET MANAGEMENT, LLC. NONE OF THE MSCI PARTIES MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, TO THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY REGARDING THE ADVISABILITY OF INVESTING IN FUNDS GENERALLY OR IN THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND , THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND , OR THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, PARTICULARLY OR THE ABILITY OF ANY MSCI INDEX TO TRACK CORRESPONDING STOCK MARKET PERFORMANCE. MSCI OR ITS AFFILIATES ARE THE LICENSORS OF CERTAIN TRADEMARKS, SERVICE MARKS AND TRADE NAMES AND OF THE MSCI INDEXES WHICH ARE DETERMINED, COMPOSED AND CALCULATED BY MSCI WITHOUT REGARD TO THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND , THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, OR THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, ANY OTHER PERSON OR ENTITY, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND. NONE OF THE MSCI PARTIES HAS ANY OBLIGATION TO TAKE THE NEEDS OF THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/ME

LLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY INTO CONSIDERATION IN DETERMINING, COMPOSING OR CALCULATING THE MSCI INDEXES. NONE OF THE MSCI PARTIES IS RESPONSIBLE FOR OR HAS PARTICIPATED IN THE DETERMINATION OF THE TIMING OF, PRICES AT, OR QUANTITIES OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND TO BE ISSUED OR IN THE DETERMINATION OR CALCULATION OF THE EQUATION BY OR THE CONSIDERATION INTO WHICH THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND IS REDEEMABLE. FURTHER, NONE OF THE MSCI PARTIES HAS ANY OBLIGATION OR LIABILITY TO THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY IN CONNECTION WITH THE ADMINISTRATION, MARKETING OR OFFERING OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND.

ALTHOUGH MSCI SHALL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE IN THE CALCULATION OF THE MSCI INDEXES FROM SOURCES THAT MSCI CONSIDERS RELIABLE, NONE OF THE MSCI PARTIES WARRANTS OR GUARANTEES THE ORIGINALITY, ACCURACY AND/OR THE COMPLETENESS OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. NONE OF THE MSCI PARTIES MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ISSUER OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND, OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL MSCI KLD 400 SOCIAL INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND, OR ANY OTHER PERSON OR ENTITY, FROM THE USE OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. NONE OF THE MSCI PARTIES SHALL HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS OF OR IN CONNECTION WITH ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. FURTHER, NONE OF THE MSCI PARTIES MAKES ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND, AND THE MSCI PARTIES HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH

RESPECT TO EACH MSCI INDEX AND ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Barclays Bank PLC is registered in England No. 1026167. Registered office 1 Churchill Place London E l 4 5HP.

Services

Jackson of NY keeps the assets of the Separate Account. Jackson of NY holds all cash of the Separate Account and attends to the collection of proceeds of shares of the underlying Fund bought and sold by the Separate Account.

The financial statements of each Investment Division within JNLNY Separate Account II and Jackson National Life Insurance Company of New York for the periods indicated have been included herein in reliance upon the reports of KPMG LLP, an independent registered public accounting firm, appearing elsewhere herein, and upon the authority of said firm as experts in accounting and auditing. KPMG LLP is located at Aon Center, 200 East Randolph Drive, Suite 5500, Chicago, Illinois 60601.

Jackson is the parent of Jackson National Asset Management, LLC (“JNAM”), the Funds’ investment adviser and administrator. Pursuant to an agreement between Jackson and JNAM, JNAM provides certain administrative services with respect to the Separate Account, including separate account administration services and financial and accounting services. For the past three years, Jackson paid $391,000 in 2014, $410,087 in 2015, and $501,239 in 2016 for the services provided by JNAM to Jackson.

Purchase of Securities Being Offered

The Contracts will be sold by licensed insurance agents in states where the Contracts may be lawfully sold. The agents will be registered representatives of broker-dealers that are registered under the Securities Exchange Act of 1934 and members of the Financial Industry Regulatory Authority (FINRA).

Underwriters

The Contracts are offered continuously and are distributed by Jackson National Life Distributors LLC (JNLD), 7601 Technology Way, Denver, Colorado 80237. JNLD is a subsidiary of Jackson.

For Perspective Advisors contracts, the aggregate amount of commissions paid to broker/dealers was $46,467 in 2014, $47,110 in 2015, and $41,272 in 2016. JNLD did not retain any portion of the commissions.

Calculation of Performance

When Jackson of NY advertises performance for an Investment Division (except the JNL/WMC Government Money Market Fund), we will include quotations of standardized average annual total return to facilitate comparison with standardized average annual total return advertised by other variable annuity separate accounts. Standardized average annual total return for an Investment Division will be shown for periods beginning on the date the Investment Division first invested in the corresponding Fund. We will calculate standardized average annual total return according to the standard methods prescribed by rules of the Securities and Exchange Commission.

Standardized average annual total return for a specific period is calculated by taking a hypothetical $1,000 investment in an Investment Division at the offering on the first day of the period ("initial investment") and computing the ending redeemable value ("redeemable value") of that investment at the end of the period. The redeemable value is then divided by the initial investment and expressed as a percentage, carried to at least the nearest hundredth of a percent. Standardized average annual total return is annualized and reflects the deduction of the insurance charges and the Contract maintenance charge. No deduction is made for premium taxes which may be assessed by certain states.

Jackson of NY may also advertise non-standardized total return on an annualized and cumulative basis. Non-standardized total return may be for periods other than those required to be presented or may otherwise differ from standardized average annual total return. Non-standardized total return may also assume a larger initial investment which more closely approximates the size of a typical Contract.

Standardized average annual total return quotations will be current to the last day of the calendar quarter preceding the date on which an advertisement is submitted for publication. Both standardized average annual total return quotations and non-standardized total return quotations will be based on rolling calendar quarters and will cover at least periods of one, five, and ten years, or a period covering the time the Investment Division has been in existence, if it has not been in existence for one of the prescribed periods. If the corresponding Fund has been in existence for longer than the Investment Division, the non-standardized total return quotations will show the investment performance the Investment Division would have achieved (reduced by the applicable charges) had it been invested in the Fund for the period quoted.

Quotations of standardized average annual total return and non-standardized total return are based upon historical earnings and will fluctuate. Any quotation of performance should not be considered a guarantee of future performance. Factors affecting the performance of an Investment Division and its corresponding Fund include general market conditions, operating expenses and investment management. An owner's withdrawal value upon surrender of a Contract may be more or less than its original cost.

Jackson of NY may advertise the current annualized yield for a 30-day period for an Investment Division. The annualized yield of an Investment Division refers to the income generated by the Investment Division over a specified 30-day period. Because this yield is annualized, the yield generated by an Investment Division during the 30-day period is assumed to be generated each 30-day period. The yield is computed by dividing the net investment income per accumulation unit earned during the period by the price per unit on the last day of the period, according to the following formula:

Where:



a	=	net investment income earned during the period by the Fund attributable to shares owned by the Investment Division.
b	=	expenses for the Investment Division accrued for the period (net of reimbursements).
c	=	the average daily number of accumulation units outstanding during the period.
d	=	the maximum offering price per accumulation unit on the last day of the period.

Net investment income will be determined in accordance with rules established by the Securities and Exchange Commission. Accrued expenses will include all recurring fees that are charged to all Contracts.

Because of the charges and deductions imposed by the Separate Account, the yield for an Investment Division will be lower than the yield for the corresponding Fund. The yield on amounts held in the Investment Divisions normally will fluctuate over time. Therefore, the disclosed yield for any given period is not an indication or representation of future yields or rates of return. An Investment Division’s actual yield will be affected by the types and quality of portfolio securities held by the Fund and the Fund operating expenses.

Any current yield quotations of the JNL/WMC Government Money Market Division will consist of a seven calendar day historical yield, carried at least to the nearest hundredth of a percent. We may advertise yield for the Division based on different time periods, but we will accompany it with a yield quotation based on a seven calendar day period. The JNL/WMC Government Money Market Division’s yield will be calculated by determining the net change, exclusive of capital changes, in the value of a hypothetical pre-existing account having a balance of one accumulation unit at the beginning of the base period, subtracting a hypothetical charge reflecting deductions from Contracts, and dividing the net change in account value by the value of the account at the beginning of the period to obtain a base period return

and multiplying the base period return by (365/7). The JNL/WMC Government Money Market Division's effective yield is computed similarly but includes the effect of assumed compounding on an annualized basis of the current yield quotations of the Division.

The JNL/WMC Government Money Market Division's yield and effective yield will fluctuate daily. Actual yields will depend on factors such as the type of instruments in the Fund's portfolio, portfolio quality and average maturity, changes in interest rates, and the Fund's expenses. Although the Investment Division determines its yield on the basis of a seven calendar day period, it may use a different time period on occasion. The yield quotes may reflect the expense limitations described in the Fund's Prospectus or Statement of Additional Information. There is no assurance that the yields quoted on any given occasion will be maintained for any period of time and there is no guarantee that the net asset values will remain constant. It should be noted that neither a Contract owner's investment in the JNL/WMC Government Money Market Division nor that Division's investment in the JNL/WMC Government Money Market Fund is guaranteed or insured. Yields of other money market funds may not be comparable if a different base or another method of calculation is used.

Additional Tax Information

NOTE: INFORMATION CONTAINED HEREIN SHOULD NOT BE SUBSTITUTED FOR THE ADVICE OF A PERSONAL TAX ADVISER. JACKSON OF NY DOES NOT MAKE ANY GUARANTEE REGARDING THE

TAX STATUS OF ANY CONTRACT OR ANY TRANSACTION INVOLVING THE CONTRACTS. PURCHASERS BEAR THE COMPLETE RISK THAT THE CONTRACTS MAY NOT BE TREATED AS "ANNUITY CONTRACTS" UNDER FEDERAL INCOME TAX LAWS. IT SHOULD BE FURTHER UNDERSTOOD THAT THE FOLLOWING DISCUSSION IS NOT EXHAUSTIVE AND THAT OTHER SPECIAL RULES MAY BE APPLICABLE IN CERTAIN SITUATIONS. MOREOVER, NO ATTEMPT HAS BEEN MADE TO CONSIDER ANY APPLICABLE STATE OR OTHER TAX LAWS OR TO COMPARE THE TAX TREATMENT OF THE CONTRACTS TO THE TAX TREATMENT OF ANY OTHER INVESTMENT.

Jackson of NY's Tax Status

Jackson of NY is taxed as a life insurance company under the Internal Revenue Code of 1986, as amended (the "Code"). For federal income tax purposes, the Separate Account is not a separate entity from Jackson of NY and its operations form a part of Jackson of NY.

Taxation of Annuity Contracts in General

Section 72 of the Code governs the taxation of annuities in general. An individual owner is not taxed on increases in the value of a Contract until distribution occurs, either in the form of a withdrawal or as annuity payments under the annuity option elected. For a withdrawal received as a total surrender (total redemption or a death benefit), the recipient is taxed on the portion of the payment that exceeds the cost basis of the Contract. For a payment received as a partial withdrawal from a non-qualified Contract, federal tax liability is generally determined on a last-in, first-out basis, meaning taxable income is withdrawn before the cost basis of the Contract is withdrawn. In the case of a partial withdrawal under a tax-qualified Contract, a ratable portion of the amount received is taxable. For Contracts issued in connection with non-qualified plans, the cost basis is generally the premiums, while for Contracts issued in connection with tax-qualified plans there may be no cost basis. The taxable portion of a withdrawal is taxed at ordinary income tax rates. Tax penalties may also apply.

For annuity payments, a portion of each payment in excess of an exclusion amount is includable in taxable income. All annuity payments in excess of the exclusion amount are fully taxable at ordinary income rates.

The exclusion amount for payments based on a fixed annuity option is determined by multiplying the payment by the ratio that the cost basis of the Contract (adjusted for any period certain or refund feature) bears to the expected return under the Contract. The exclusion amount for payments based on a variable annuity option is determined by dividing the cost basis of the Contract (adjusted for any period certain or refund guarantee) by the fixed or estimated number of years for which annuity payments are to be made. No exclusion is allowed with respect to any payments received after the investment in the Contract has been recovered (i.e., when the total of the excludable amounts equals the investment in the Contract). For certain types of tax-qualified plans there may be no cost basis in the Contract within the meaning of Section 72 of the Code.

Owners, annuitants and beneficiaries under the Contracts should seek competent financial advice about the tax consequences of distributions.

Medicare Tax on Net Investment Income

Withholding Tax on Distributions

The Code generally requires Jackson of NY (or, in some cases, a plan administrator) to withhold tax on the taxable portion of any distribution or withdrawal from a Contract. For "eligible rollover distributions" from Contracts issued under certain types of tax-qualified plans, 20% of the distribution must be withheld, unless the payee elects to have the distribution "rolled over" to another eligible plan in a direct transfer. This requirement is mandatory and cannot be waived by the owner.

An "eligible rollover distribution" is the taxable portion of any amount received by a covered employee from a plan qualified under Section 401(a) or 403(a) of the Code, from a tax sheltered annuity qualified under Section 403(b) of the Code or an eligible deferred compensation plan of a state or local government under Section 457(b) of the Code (other than (1) a series of substantially equal periodic payments (not less frequently than annually) for the life (or life expectancy) of the employee, or joint lives (or joint life expectancies) of the employee, and his or her designated beneficiary, or for a specified period of ten years or more; (2) minimum distributions required to be made under the Code; and (3) hardship withdrawals). Failure to "roll over" the entire amount of an eligible rollover distribution (including the amount equal to the 20% portion of the distribution that was withheld) could have adverse tax consequences, including the imposition of a penalty tax on premature withdrawals, described later in this section.

Withdrawals or distributions from a Contract other than eligible rollover distributions are also subject to withholding on the taxable portion of the distribution, but the owner may elect in such cases to waive the withholding requirement. If not waived, withholding is imposed (1) for periodic payments, at the rate that would be imposed if the payments were wages, or (2) for other distributions, at the rate of 10%. If no withholding exemption certificate is in effect for the payee, the rate under (1) above is computed by treating the payee as a married individual claiming 3 withholding exemptions.

Generally, the amount of any payment of interest to a non-resident alien of the United States shall be subject to withholding of a tax equal to thirty percent (30%) of such amount or, if applicable, a lower treaty rate. A payment may not be subject to withholding where the recipient sufficiently establishes that such payment is effectively connected to the recipient’s conduct of a trade or business in the United States and such payment is included in the recipient’s gross income.

Diversification -- Separate Account Investments

Section 817(h) of the Code imposes certain asset diversification standards on variable annuity Contracts. The Code provides that a variable annuity Contract will not be treated as an annuity Contract for any period (and any subsequent period) for which the investments held in any segregated asset account underlying the Contract are not adequately diversified, in accordance with regulations prescribed by the United States Treasury Department ("Treasury Department"). Disqualification of the Contract as an annuity Contract would result in imposition of federal income tax to the owner with respect to earnings allocable to the Contract prior to the receipt of payments under the Contract. The Code contains a safe harbor provision which provides that annuity Contracts, such as the Contracts, meet the diversification requirements if, as of the last day of each calendar quarter, or within 30 days after such last day, the underlying assets meet the diversification standards for a regulated investment company, and no more than 55% of the total assets consist of cash, cash items, U.S. government securities and securities of other regulated investment companies.

The Treasury Department has issued Regulations establishing diversification requirements for the mutual funds underlying variable Contracts. These Regulations amplify the diversification requirements for variable Contracts set forth in the Code and provide an alternative to the safe harbor provision described above. Under these Regulations, a mutual fund will be deemed adequately diversified if (1) no more than 55% of the value of the total assets of the mutual fund is represented by any one investment; (2) no more than 70% of the value of the total assets of the mutual fund is represented by any two investments; (3) no more than 80% of the value of the total assets of the mutual fund is represented by any three investments; and (4) no more than 90% of the value of the total assets of the mutual fund is represented by any four investments.

Jackson of NY intends that each Fund of the JNL Series Trust, JNL Variable Fund LLC, and Jackson Variable Series Trust will be managed by its respective investment adviser in such a manner as to comply with these diversification requirements.

At the time the Treasury Department issued the diversification Regulations, it did not provide guidance regarding the circumstances under which Contract owner control of the investments of a segregated asset account would cause the Contract owner to be treated as the owner of the assets of the segregated asset account. Revenue Ruling 2003-91 provides such guidance by describing the circumstances under which the owner of a variable contract will not possess sufficient control over the assets underlying the contract to be treated as the owner of those assets for federal income tax purposes.

Rev. Rul. 2003-91 considered certain variable annuity and variable life insurance contracts and held that the types of actual and potential control that the contract owners could exercise over the investment assets held by the insurance company under these variable contracts was not sufficient to cause the contract owners to be treated as the owners of those assets and thus to be subject to current income tax on the income and gains produced by those assets. Under the contracts in Rev. Rul. 2003-91 there was no arrangement, plan, contract or agreement between the contract owner and the insurance company regarding the availability of a particular investment option and other than the contract owner’s right to allocate premiums and transfer funds among the available sub-accounts, all investment decisions concerning the sub-accounts were made by the insurance company or an advisor in its sole and absolute discretion. Twelve investment options were available under the contracts in Rev. Rul. 2003-91 although the insurance company had the right to increase (but to no more than 20) or decrease the number of sub-accounts at any time. The contract owner was permitted to transfer amounts among the various investment options without limitation, subject to incurring fees for more than one transfer per 30-day period.

Like the contracts described in Rev. Rul. 2003-91, under the Contract there will be no arrangement, plan, contract or agreement between a Contract owner and Jackson of NY regarding the availability of a particular Allocation Option and other than the Contract owner’s right to allocate premiums and transfer funds among the available Allocation Options, all investment decisions concerning the Allocation Options will be made by Jackson of NY or an advisor in its sole and absolute discretion. The Contract will differ from the contracts described in Rev. Rul. 2003-91 in two respects. The first difference is that the contracts described in Rev. Rul. 2003-91 provided only 12 investment options with the insurance company having the ability to add an additional 8 options whereas the Contract currently offers 103 Investment Divisions and at least one Fixed Account option, and, if more than 99 Allocation Options are offered, a Contract owner can select no more than 99 Allocation Options at any one time. The second difference is that the owner of a contract in Rev. Rul. 2003-91 could only make one transfer per 30-day period without a fee whereas during the accumulation phase, a Contract owner can make 15 transfers in any one year without a charge.

Rev. Rul. 2003-91 states that whether the owner of a variable contract is to be treated as the owner of the assets held by the insurance company under the contract will depend on all of the facts and circumstances. Jackson of NY does not believe that the differences between the Contract and the contracts described in Rev. Rul. 2003-91 with respect to the number of investment choices and the number of investment transfers that can be made under the Contract without an additional charge should prevent the holding in Rev. Rul. 2003-91 from applying to the owner of a Contract. At this time, however, it cannot be determined whether additional guidance will be provided by the IRS on this issue and what standards may be contained in such guidance. Jackson of NY reserves the right to modify the Contract to the extent required to maintain favorable tax treatment.

Multiple Contracts

The Code provides that multiple annuity Contracts which are issued within a calendar year to the same Contract owner by one company or its affiliates are treated as one annuity Contract for purposes of determining the tax consequences of any distribution. Such treatment may result in adverse tax consequences including more rapid taxation of the distributed amounts from such multiple Contracts. For purposes of this rule, Contracts received in a Section 1035 exchange will be considered issued in the year of the exchange. Owners should consult a tax adviser prior to purchasing more than one annuity Contract in any calendar year.

Partial 1035 Exchanges

In accordance with Revenue Procedure 2011-38, the IRS will consider a partial exchange of an annuity Contract for another annuity Contract valid if there is either no withdrawal from, or surrender of, either the surviving annuity contract or the new annuity contract within 180 days of the date of the partial exchange. Revenue Procedure 2011-38 also provides certain exceptions to the 180 day rule. Due to the complexity of these rules, owners are encouraged to consult their own tax advisers prior to entering into a partial exchange of an annuity Contract.

Contracts Owned by Other than Natural Persons

Under Section 72(u) of the Code, the investment earnings on premiums for Contracts will be taxed currently to the owner if the owner is a non-natural person, e.g., a corporation or certain other entities. Such Contracts generally will not be treated as annuities for federal income tax purposes (except for the taxation of life insurance companies). However, this treatment is not applied to Contracts held by a trust or other entity as an agent for a natural person nor to Contracts held by certain tax-qualified plans. Purchasers should consult their own tax counsel or other tax adviser before purchasing a Contract to be owned by a non-natural person.

Tax Treatment of Assignments

An assignment or pledge of a Contract may have tax consequences. Any assignment or pledge of a tax-qualified Contract may also be prohibited by ERISA in some circumstances. Owners should, therefore, consult competent legal advisers should they wish to assign or pledge their Contracts.

An assignment or pledge of all or any portion of the value of a Non-Qualified Contract is treated under Section 72 of the Code as an amount not received as an annuity. The value of the Contract assigned or pledged that exceeds the aggregate premiums paid will be included in the individual’s gross income. In addition, the amount included in the individual’s gross income could also be subject to the 10% penalty tax discussed below under Non-Qualified Contracts.

An assignment or pledge of all or any portion of the value of a Qualified Contract will disqualify the Qualified Contract. If the Qualified Contract is part of a qualified pension or profit-sharing plan, the Code prohibits the assignment or alienation of benefits provided under the plan. If the Qualified Contract is an IRA annuity or a 403(b) annuity, the Code requires the Qualified Contract to be nontransferable. If the Qualified Contract is part of an eligible deferred compensation plan, amounts cannot be made available to plan participants or beneficiaries: (1) until the calendar year in which the participant attains age 70 1/2; (2) when the participant has a severance from employment; or (3) when the participant is faced with an unforeseeable emergency.

Death Benefits

Any death benefits paid under the Contract are taxable to the beneficiary. The rules governing the taxation of payments from an annuity Contract, as discussed above, generally apply to the payment of death benefits and depend on whether the death benefits are paid as a lump sum or as annuity payments. Estate or gift taxes may also apply.

IRS Approval

The Contract, and all riders attached thereto, have been approved by the IRS for use as an Individual Retirement Annuity prototype.

Tax-Qualified Plans

The Contracts offered by the Prospectus are designed to be suitable for use under various types of tax-qualified plans. Taxation of owners of a tax-qualified Contract will vary based on the type of plan and the terms and conditions of each specific plan. Owners, annuitants and beneficiaries are cautioned that benefits under a tax-qualified Contract may be subject to the terms and conditions of the plan, regardless of the terms and conditions of the Contracts issued to fund

the plan. Owners, annuitant and beneficiaries are also reminded that a tax-qualified Contract will not provide any necessary or additional tax deferral if it is used to fund a tax-qualified plan that is already tax-deferred.

Tax Treatment of Withdrawals

Non-Qualified Contracts

Section 72 of the Code governs treatment of distributions from annuity Contracts. It provides that if the contract value exceeds the aggregate premiums made, any amount withdrawn not in the form of an annuity payment will be treated as coming first from the earnings and then, only after the income portion is exhausted, as coming from the principal. Withdrawn earnings are included in a taxpayer’s gross income. Section 72 further provides that a 10% penalty will apply to the income portion of any distribution. The penalty is not imposed on amounts received: (1) after the taxpayer reaches 59 1/2; (2) upon the death of the owner; (3) if the taxpayer is totally disabled as defined in Section 72(m)(7) of the Code; (4) in a series of substantially equal periodic payments made at least annually for the life (or life expectancy) of the taxpayer or for the joint lives (or joint life expectancies) of the taxpayer and his beneficiary; (5) under an immediate annuity; or (6) which are allocable to premium payments made prior to August 14, 1982.

With respect to (4) above, if the series of substantially equal periodic payments is modified before the later of your attaining age 59 ½ or 5 years from the date of the first periodic payment, then the tax for the year of the modification is increased by an amount equal to the tax which would have been imposed (the 10% penalty tax) but for the exception, plus interest for the tax years in which the exception was used.

Tax-Qualified Contracts

In the case of a withdrawal under a tax-qualified Contract, a ratable portion of the amount received is taxable, generally based on the ratio of the individual’s cost basis to the individual’s total accrued benefit under the retirement plan. Special tax rules may be available for certain distributions from a tax-qualified Contract. Section 72(t) of the Code imposes a 10% penalty tax on the taxable portion of any distribution from qualified retirement plans, including Contracts issued and qualified under Code Sections 401 (pension and profit sharing plans), 403(b) (tax-sheltered annuities), individual retirement accounts and annuities under 408(a) and (b) (IRAs) and Roth IRAs under 408A. To the extent amounts are not included in gross income because they have been rolled over to an IRA or to another eligible qualified plan, no tax penalty will be imposed.

The tax penalty will not apply to the following distributions: (1) distributions made on or after the date on which the owner or annuitant (as applicable) reaches age 59 1/2; (2) distributions following the death or disability of the owner or annuitant (as applicable) (for this purpose "disability" is defined in Section 72(m)(7) of the Code); (3) distributions that are part of a series of substantially equal periodic payments made not less frequently than annually for the life (or life expectancy) of the owner or annuitant (as applicable) or the joint lives (or joint life expectancies) of such owner or annuitant (as applicable) and his or her designated beneficiary; (4) distributions to an owner or annuitant (as applicable) who has separated from service after he has attained age 55; (5) distributions made to the owner or annuitant (as applicable) to the extent such distributions do not exceed the amount allowable as a deduction under Code Section 213 to the owner or annuitant (as applicable) for amounts paid during the taxable year for medical care; (6) distributions made to an alternate payee pursuant to a qualified domestic relations order; (7) distributions made on account of an IRS levy upon the qualified Contracts, (8) distributions from an IRA after separation from employment for the purchase of medical insurance (as described in Section 213(d)(1)(D) of the Code) for the Contract owner or annuitant (as applicable) and his or her spouse and dependents if the Contract owner or annuitant (as applicable) has received unemployment compensation for at least 12 weeks (this exception will no longer apply after the Contract owner or annuitant (as applicable) has been re-employed for at least 60 days); (9) distributions from an IRA made to the owner or annuitant (as applicable) to the extent such distributions do not exceed the qualified higher education expenses (as defined in Section 72(t)(7) of the Code) (as applicable) for the taxable year; and (10) distributions from an IRA made to the owner or annuitant (as applicable) which are qualified first time home buyer distributions (as defined in Section 72(t)(8) of the Code). The exceptions stated in items (4) and (6) above do not apply in the case of an IRA. The exception stated in (3) above applies to an IRA without the requirement that there be a separation from service.

With respect to (3) above, if the series of substantially equal periodic payments is modified before the later of your attaining age 59 ½ or 5 years from the date of the first periodic payment, then the tax for the year of the modification is increased by an amount equal to the tax which would have been imposed (the 10% penalty tax) but for the exception, plus interest for the tax years in which the exception was used.

Withdrawals of amounts attributable to contributions made pursuant to a salary reduction agreement (in accordance with Section 403(b)(11) of the Code) are limited to the following: when the owner attains age 59 1/2, severs employment, dies, becomes disabled (within the meaning of Section 72(m)(7) of the Code), or in the case of hardship. Hardship withdrawals do not include any earnings on salary reduction contributions. These limitations on withdrawals apply to: (1) salary reduction contributions made after December 31, 1988; (2) income attributable to such contributions; and (3) income attributable to amounts held as of December 31, 1988. The limitations on withdrawals do not affect rollovers or exchanges between certain tax-qualified plans. Tax penalties may also apply. While the foregoing limitations only apply to certain Contracts issued in connection with Section 403(b) plans, all owners should seek competent tax advice regarding any withdrawals or distributions.

The taxable portion of a withdrawal or distribution from tax-qualified Contracts may, under some circumstances, be "rolled over" into another eligible plan so as to continue to defer income tax on the taxable portion. Such treatment is available for an "eligible rollover distribution" made by certain types of plans (as described above under "Taxes -- Withholding Tax on Distributions") that is transferred within 60 days of receipt into another eligible plan or an IRA. Plans making such eligible rollover distributions are also required, with some exceptions specified in the Code, to provide for a direct transfer of the distribution to the transferee plan designated by the recipient.

Amounts received from IRAs may also be rolled over into other IRAs or certain other plans, subject to limitations set forth in the Code.

Prior to the date that annuity payments begin under an annuity Contract, the required minimum distribution rules applicable to defined contribution plans and IRAs will be used. Generally, distributions from a tax-qualified plan must commence no later than April 1 of the calendar year following the year in which the employee attains the later of age 70 1/2 or the date of retirement. In the case of an IRA, distributions must commence no later than April 1 of the calendar year following the year in which the owner attains age 70 1/2. Required distributions from defined contribution plans and IRAs are determined by dividing the account balance by the appropriate distribution period found in a uniform lifetime distribution table set forth in IRS regulations. For this purpose, the entire interest under an annuity Contract is the account value under the Contract plus the actuarial value of any other benefits such as guaranteed death benefits that will be provided under the Contract.

If the sole beneficiary is the Contract holder's or employee's spouse and the spouse is more than 10 years younger than the employee, a longer distribution period measured by the joint life and last survivor expectancy of the Contract holder employee and spouse is permitted to be used. Distributions under a defined benefit plan or an annuity Contract must be paid in the form of periodic annuity payments for the employee's life (or the joint lives of the employee and beneficiary) or over a period certain that does not exceed the period under the uniform lifetime table for the employee's age in the year in which the annuity starting date occurs. If the required minimum distributions are not made, a 50% penalty tax on the amount not distributed is imposed on the individual.

Types of Tax-Qualified Plans

The Contracts offered herein are designed to be suitable for use under various types of tax-qualified plans. Taxation of participants in each tax-qualified plan varies with the type of plan and terms and conditions of each specific plan. Owners, annuitants and beneficiaries are cautioned that benefits under a tax-qualified plan may be subject to the terms and conditions of the plan regardless of the terms and conditions of the Contracts issued pursuant to the plan. Some retirement plans are subject to distribution and other requirements that are not incorporated into Jackson of NY’s administrative procedures. Jackson of NY is not bound by the terms and conditions of such plans to the extent such terms conflict with the terms of a Contract, unless Jackson of NY specifically consents to be bound. Owners, annuitants and beneficiaries are responsible for determining that contributions, distributions and other transactions with respect to the Contracts comply with applicable law.

A tax-qualified Contract will not provide any necessary or additional tax deferral if it is used to fund a tax-qualified plan that is tax deferred. However, the Contract has features and benefits other than tax deferral that may make it an appropriate investment for a tax-qualified plan. Following are general descriptions of the types of tax-qualified plans with which the Contracts may be used. Such descriptions are not exhaustive and are for general informational purposes only. The tax rules regarding tax-qualified plans are very complex and will have differing applications depending on individual facts and circumstances. Each purchaser should obtain competent tax advice prior to purchasing a Contract issued under a tax-qualified plan.

Contracts issued pursuant to tax-qualified plans include special provisions restricting Contract provisions that may otherwise be available as described herein. Generally, Contracts issued pursuant to tax-qualified plans are not transferable except upon surrender or annuitization. Various penalty and excise taxes may apply to contributions or distributions made in violation of applicable limitations. Furthermore, certain withdrawal penalties and restrictions may apply to surrenders from Tax-Qualified Contracts. (See "Tax Treatment of Withdrawals - Tax-Qualified Contracts" above.)

On July 6, 1983, the Supreme Court decided in Arizona Governing Committee v. Norris that benefits provided under an employer’s deferred compensation plan could not, under Title VII of the Civil Rights Act of 1964, vary between men and women. The Contracts sold by Jackson of NY in connection with certain Tax-Qualified Plans will utilize tables which do not differentiate on the basis of sex. Such annuity tables will also be available for use in connection with certain non-qualified deferred compensation plans.

(a) Tax-Sheltered Annuities

Section 403(b) of the Code permits the purchase of "tax-sheltered annuities" by public schools and certain charitable, educational and scientific organizations described in Section 501(c) (3) of the Code. These qualifying employers may make contributions to the Contracts for the benefit of their employees. Such contributions are not included in the gross income of the employee until the employee receives distributions from the Contract. The amount of contributions to the tax‑sheltered annuity is limited to certain maximums imposed by the Code. Furthermore, the Code sets forth additional restrictions governing such items as transferability, distributions, non-discrimination and withdrawals. Employee loans are not allowed under these Contracts. Any employee should obtain competent tax advice as to the tax treatment and suitability of such an investment.

(b) Individual Retirement Annuities

Section 408(b) of the Code permits eligible individuals to contribute to an individual retirement program known as an "individual retirement annuity" ("IRA annuity"). Under applicable limitations, certain amounts may be contributed to an IRA annuity which will be deductible from the individual's gross income. IRA annuities are subject to limitations on eligibility, contributions, transferability and distributions. Sales of IRA annuities are subject to special requirements imposed by the Code, including the requirement that certain informational disclosure be given to persons desiring to establish an IRA. Purchasers of Contracts to be qualified as IRA annuities should obtain competent tax advice as to the tax treatment and suitability of such an investment.

Section 408A of the Code provides that individuals may purchase a non-deductible IRA annuity, known as a Roth IRA annuity. Purchase payments for Roth IRA annuities are limited to a maximum of $5,500 for 2017. The limit will be adjusted annually for inflation in $500 increments. In addition, the Act allows individuals age 50 and older to make additional catch-up IRA contributions. The otherwise maximum contribution limit (before application of adjusted gross income phase-out limits) for an individual who had celebrated his or her 50th birthday before the end of the tax year is increased by $1,000. The same contribution and catch-up contributions are also available for purchasers of Traditional IRA annuities.

Lower maximum limitations apply to individuals above certain adjusted gross income levels. For 2017, these levels are $118,000 in the case of single taxpayers, $186,000 in the case of married taxpayers filing joint returns, and $0 in the case of married taxpayers filing separately. These levels are indexed annually in $1,000 increments. An overall $5,500 annual limitation (increased as discussed above) continues to apply to all of a taxpayer’s IRA annuity contributions, including Roth IRA annuities and non-Roth IRA annuities.

Qualified distributions from Roth IRA annuities are free from federal income tax. A qualified distribution requires that the individual has held the Roth IRA annuity for at least five years and, in addition, that the distribution is made either after the individual reaches age 59 1/2, on the individual’s death or disability, or as a qualified first-time home purchase, subject to a $10,000 lifetime maximum, for the individual, a spouse, child, grandchild, or ancestor. Any distribution which is not a qualified distribution is taxable to the extent of earnings in the distribution. Distributions are treated as made from contributions first and therefore no distributions are taxable until distributions exceed the amount of contributions to the Roth IRA annuity. The 10% penalty tax and the regular IRA annuity exceptions to the 10% penalty tax apply to taxable distributions from Roth IRA annuities.

Amounts may be rolled over from one Roth IRA annuity to another Roth IRA annuity. Furthermore, an individual may make a rollover contribution from a non-Roth IRA annuity to a Roth IRA annuity. The individual must pay tax on any portion of the IRA annuity being rolled over that would be included in income if the distributions were not rolled over. There are no similar limitations on rollovers from one Roth IRA annuity to another Roth IRA annuity.

(d) Pension and Profit-Sharing Plans

The Internal Revenue Code permits employers, including self-employed individuals, to establish various types of qualified retirement plans for employees. These retirement plans may permit the purchase of the Contracts to provide benefits under the plan. Contributions to the plan for the benefit of employees will not be included in the gross income of the employee until distributed from the plan. The tax consequences to owners may vary depending upon the particular plan design. However, the Code places limitations on all plans on such items as amount of allowable contributions; form, manner and timing of distributions; vesting and non-forfeitability of interests; nondiscrimination in eligibility and participation; and the tax treatment of distributions, transferability of benefits, withdrawals and surrenders. Purchasers of Contracts for use with pension or profit sharing plans should obtain competent tax advice as to the tax treatment and suitability of such an investment.

(e) Eligible Deferred Compensation Plans -- Section 457

Under Code provisions, employees and independent contractors performing services for state and local governments and other tax-exempt organizations may participate in eligible deferred compensation plans under Section 457 of the Code. The amounts deferred under a Plan which meets the requirements of Section 457 of the Code are not taxable as income to the participant until paid or otherwise made available to the participant or beneficiary. As a general rule, the maximum amount which can be deferred in any one year is the lesser of 100% of the participant’s includible compensation, or the $18,000 elective deferral limitation in 2017. The limit is indexed for inflation in $500 increments annually. In addition, the Act allows individuals in eligible deferred compensation plans of state or local governments age 50 and older to make additional catch-up contributions. The otherwise maximum contribution limit for an individual who had celebrated his or her 50th birthday before the end of the tax year is increased by $6,000. The same contribution and catch-up contributions are also available for participants in qualified pension and profit-sharing plans and tax-sheltered annuities under Section 403(b) of the Code.

In limited circumstances, the plan may provide for additional catch-up contributions in each of the last three years before normal retirement age. Furthermore, the Code provides additional requirements and restrictions regarding eligibility and distributions.

All of the assets and income of an eligible deferred compensation plan established by a governmental employer must be held in trust for the exclusive benefit of participants and their beneficiaries. For this purpose, custodial accounts and certain annuity Contracts are treated as trusts. The requirement of a trust does not apply to amounts under a Plan of a tax-exempt (non-governmental) employer. In addition, the requirement of a trust does not apply to amounts under a Plan of a governmental employer if the Plan is not an eligible plan within the meaning of Section 457(b) of the Code. In the absence of such a trust, amounts under the plan will be subject to the claims of the employer’s general creditors.

In general, distributions from a Plan are prohibited under Section 457 of the Code unless made after the participant:



•	attains age 70 1/2,
•	severs employment,
•	dies, or
•	suffers an unforeseeable financial emergency as defined in the regulations.

Under present federal tax law, amounts accumulated in a Plan of a tax-exempt (non-governmental) employer under Section 457 of the Code cannot be transferred or rolled over on a tax-deferred basis except for certain transfers to other Plans under Section 457. Amounts accumulated in a Plan of a state or local government employer may be transferred or rolled over to another eligible deferred compensation plan of a state or local government, an IRA, a qualified pension or profit-sharing plan or a tax-sheltered annuity under Section 403(b) of the Code.

Annuity Provisions

Variable Annuity Payment

The initial annuity payment is determined by taking the Contract value allocated to that Investment Division, less any premium tax and any applicable Contract charges, and then applying it to the income option table specified in the Contract. The appropriate rate must be determined by the sex (except where, as in the case of certain Qualified Plans and other employer-sponsored retirement plans, such classification is not permitted) and age of the annuitant and designated second person, if any.

The dollars applied are divided by 1,000 and the result multiplied by the appropriate annuity factor appearing in the table to compute the amount of the first monthly payment. That amount is divided by the value of an annuity unit as of the Income Date to establish the number of annuity units representing each variable payment. The number of annuity units determined for the first variable payment remains constant for the second and subsequent monthly variable payments, assuming that no reallocation of Contract values is made.

The amount of the second and each subsequent monthly variable payment is determined by multiplying the number of annuity units by the annuity unit value as of the business day next preceding the date on which each payment is due.

The mortality and expense experience will not adversely affect the dollar amount of the variable annuity payments once payments have commenced.

Annuity Unit Value

The initial value of an annuity unit of each Investment Division was set when the Investment Divisions were established. The value may increase or decrease from one business day to the next. The income option tables contained in the Contract are based on a 4.5% per annum assumed investment rate.

The value of a fixed number of annuity units will reflect the investment performance of the Investment Divisions elected, and the amount of each payment will vary accordingly.

For each Investment Division, the value of an annuity unit for any business day is determined by multiplying the annuity unit value for the immediately preceding business day by the percentage change in the value of an accumulation unit from the immediately preceding business day to the business day of valuation. The result is then multiplied by a second factor which offsets the effect of the assumed net investment rate of 4.5% per annum.

Net Investment Factor

The net investment factor is an index applied to measure the net investment performance of an Investment Division from one valuation date to the next. The net investment factor for any Investment Division for any valuation period during the accumulation and annuity phases is determined by dividing (a) by (b) and then subtracting (c) from the result where:



(a)	is the net result of:
	(1)	the net asset value of a Fund's share held in the Investment Division determined as of the valuation date at the end of the valuation period, plus
	(2)	the per share amount of any dividend or other distribution declared by the Fund if the "ex-dividend" date occurs during the valuation period, plus or minus
	(3)	a per share credit or charge with respect to any taxes paid or reserved for by Jackson of NY during the valuation period which are determined by Jackson of NY to be attributable to the operation of the Investment Division (no federal income taxes are applicable under present law);
(b)	is the net asset value of the Fund share held in the Investment Division determined as of the valuation date at the end of the preceding valuation period; and
(c)	is the asset charge factor determined by Jackson of NY for the valuation period to reflect the asset-based charges (the mortality and expense risk charge), administration charge, and any applicable charges for optional benefits.

Also see "Income Payments (The Income Phase)" in the Prospectus.

APPENDIX A

JNLNY Separate Account II

Financial Statements

December 31, 2016

JNLNY Separate Account II

Statements of Assets and Liabilities

December 31, 2016

JNL/DoubleLine Total Return Fund

JNL/PIMCO Credit Income Fund

JNL Alt 65 Fund - A

JNL Disciplined Growth Fund - A

JNL Disciplined Moderate Fund - A

JNL Disciplined Moderate Growth Fund - A

JNL Institutional Alt 20 Fund - A

JNL Institutional Alt 35 Fund - A

JNL Institutional Alt 50 Fund - A

JNL Multi-Manager Mid Cap Fund - A

Assets

Investments, at fair value (a)

—

Receivables:

Investments in Fund shares sold

—

Investment Division units sold

—

Total assets

—

Liabilities

Payables:

Investments in Fund shares purchased

—

Investment Division units redeemed

—

Insurance fees due to Jackson

of New York

—

Total liabilities

—

Net assets (Note 6)

—

(a) Investments in Funds, shares outstanding

—

Investments in Funds, at cost

—

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL Multi-Manager Small Cap Growth Fund - A		JNL Multi-Manager Small Cap Value Fund - A		JNL/American Funds Balanced Allocation Fund - A		JNL/American Funds Blue Chip Income and Growth Fund - A		JNL/American Funds Global Bond Fund - A		JNL/American Funds Global Small Capitalization Fund - A		JNL/American Funds Growth-Income Fund - A		JNL/American Funds Growth Allocation Fund - A		JNL/American Funds International Fund - A		JNL/American Funds New World Fund - A
Assets
Investments, at fair value (a)	$	2,557	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Receivables:
Investments in Fund shares sold	—		—		—		—		—		—		—		—		—		—
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	2,557		—		—		—		—		—		—		—		—		—

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	—		—		—		—		—		—		—		—		—		—
Total liabilities	—		—		—		—		—		—		—		—		—		—
Net assets (Note 6)	$	2,557	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


(a) Investments in Funds, shares outstanding	126		—		—		—		—		—		—		—		—		—
Investments in Funds, at cost	$	3,086	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/AQR Managed Futures Strategy Fund - A		JNL/BlackRock Global Allocation Fund - A		JNL/BlackRock Large Cap Select Growth Fund - A		JNL/BlackRock Natural Resources Fund - A		JNL/Brookfield Global Infrastructure and MLP Fund - A		JNL/Capital Guardian Global Balanced Fund - A		JNL/Capital Guardian Global Diversified Research Fund - A		JNL/Causeway International Value Select Fund - A		JNL/Crescent High Income Fund - A		JNL/DFA U.S. Core Equity Fund - A
Assets
Investments, at fair value (a)	$	—	$	6,207	$	35,277	$	—	$	—	$	—	$	—	$	54,494	$	—	$	47,793
Receivables:
Investments in Fund shares sold	—		—		1		—		—		—		—		2		—		2
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	—		6,207		35,278		—		—		—		—		54,496		—		47,795

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	—		—		1		—		—		—		—		2		—		2
Total liabilities	—		—		1		—		—		—		—		2		—		2
Net assets (Note 6)	$	—	$	6,207	$	35,277	$	—	$	—	$	—	$	—	$	54,494	$	—	$	47,793


(a) Investments in Funds, shares outstanding	—		551		1,272		—		—		—		—		4,037		—		4,074
Investments in Funds, at cost	$	—	$	6,139	$	34,368	$	—	$	—	$	—	$	—	$	64,845	$	—	$	40,245

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/Eastspring Investments Asia ex-Japan Fund - A		JNL/FPA + DoubleLine Flexible Allocation Fund - A		JNL/Franklin Templeton Founding Strategy Fund - A		JNL/Franklin Templeton Global Growth Fund - A		JNL/Franklin Templeton Global Multisector Bond Fund - A		JNL/Franklin Templeton Income Fund - A		JNL/Franklin Templeton International Small Cap Growth Fund - A		JNL/Franklin Templeton Mutual Shares Fund - A		JNL/Goldman Sachs Core Plus Bond Fund - A		JNL/Goldman Sachs Emerging Markets Debt Fund - A
Assets
Investments, at fair value (a)	$	—	$	5,172	$	—	$	—	$	—	$	4,198	$	—	$	—	$	—	$	—
Receivables:
Investments in Fund shares sold	—		—		—		—		—		—		—		—		—		—
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	—		5,172		—		—		—		4,198		—		—		—		—

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	—		—		—		—		—		—		—		—		—		—
Total liabilities	—		—		—		—		—		—		—		—		—		—
Net assets (Note 6)	$	—	$	5,172	$	—	$	—	$	—	$	4,198	$	—	$	—	$	—	$	—


(a) Investments in Funds, shares outstanding	—		444		—		—		—		371		—		—		—		—
Investments in Funds, at cost	$	—	$	5,649	$	—	$	—	$	—	$	3,848	$	—	$	—	$	—	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/Goldman Sachs Mid Cap Value Fund - A		JNL/Goldman Sachs U.S. Equity Flex Fund - A		JNL/Invesco China-India Fund - A		JNL/Invesco Global Real Estate Fund - A		JNL/Invesco International Growth Fund - A		JNL/Invesco Large Cap Growth Fund - A		JNL/Invesco Mid Cap Value Fund - A		JNL/Invesco Small Cap Growth Fund - A		JNL/JPMorgan MidCap Growth Fund - A		JNL/JPMorgan U.S. Government & Quality Bond Fund - A
Assets
Investments, at fair value (a)	$	—	$	—	$	—	$	13,902	$	11,673	$	—	$	33,289	$	—	$	—	$	—
Receivables:
Investments in Fund shares sold	—		—		—		1		—		—		1		—		—		—
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	—		—		—		13,903		11,673		—		33,290		—		—		—

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	—		—		—		1		—		—		1		—		—		—
Total liabilities	—		—		—		1		—		—		1		—		—		—
Net assets (Note 6)	$	—	$	—	$	—	$	13,902	$	11,673	$	—	$	33,289	$	—	$	—	$	—


(a) Investments in Funds, shares outstanding	—		—		—		1,459		1,002		—		2,081		—		—		—
Investments in Funds, at cost	$	—	$	—	$	—	$	13,857	$	9,231	$	—	$	28,705	$	—	$	—	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/Lazard Emerging Markets Fund - A		JNL/MC 10 x 10 Fund - A		JNL/MC Bond Index Fund - A		JNL/MC Emerging Markets Index Fund - A		JNL/MC European 30 Fund - A		JNL/MC Index 5 Fund - A		JNL/MC International Index Fund - A		JNL/MC Pacific Rim 30 Fund - A		JNL/MC S&P 400 MidCap Index Fund - A		JNL/MC S&P 500 Index Fund - A
Assets
Investments, at fair value (a)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	50,062	$	47,216
Receivables:
Investments in Fund shares sold	—		—		—		—		—		—		—		—		2		2
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	—		—		—		—		—		—		—		—		50,064		47,218

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	—		—		—		—		—		—		—		—		2		2
Total liabilities	—		—		—		—		—		—		—		—		2		2
Net assets (Note 6)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	50,062	$	47,216


(a) Investments in Funds, shares outstanding	—		—		—		—		—		—		—		—		2,466		2,532
Investments in Funds, at cost	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	35,342	$	25,376

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/MC Small Cap Index Fund - A		JNL/Morgan Stanley Mid Cap Growth Fund - A		JNL/Neuberger Berman Strategic Income Fund - A		JNL/Oppenheimer Global Growth Fund - A		JNL/PIMCO Real Return Fund - A		JNL/PIMCO Total Return Bond Fund - A		JNL/PPM America Floating Rate Income Fund - A		JNL/PPM America High Yield Bond Fund - A		JNL/PPM America Mid Cap Value Fund - A		JNL/PPM America Small Cap Value Fund - A
Assets
Investments, at fair value (a)	$	81,082	$	—	$	—	$	56,420	$	—	$	32,476	$	2,595	$	2,611	$	—	$	—
Receivables:
Investments in Fund shares sold	3		—		—		2		—		1		—		—		—		—
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	81,085		—		—		56,422		—		32,477		2,595		2,611		—		—

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	3		—		—		2		—		1		—		—		—		—
Total liabilities	3		—		—		2		—		1		—		—		—		—
Net assets (Note 6)	$	81,082	$	—	$	—	$	56,420	$	—	$	32,476	$	2,595	$	2,611	$	—	$	—


(a) Investments in Funds, shares outstanding	4,407		—		—		4,106		—		2,638		245		194		—		—
Investments in Funds, at cost	$	52,498	$	—	$	—	$	47,847	$	—	$	33,112	$	2,639	$	2,785	$	—	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/PPM America Total Return Fund - A		JNL/PPM America Value Equity Fund - A		JNL/Red Rocks Listed Private Equity Fund - A		JNL/S&P 4 Fund - A		JNL/S&P Competitive Advantage Fund - A		JNL/S&P Dividend Income & Growth Fund - A		JNL/S&P Intrinsic Value Fund - A		JNL/S&P Managed Aggressive Growth Fund - A		JNL/S&P Managed Conservative Fund - A		JNL/S&P Managed Growth Fund - A
Assets
Investments, at fair value (a)	$	—	$	9,812	$	—	$	3,571	$	4,568	$	17,297	$	—	$	4,897	$	—	$	4,665
Receivables:
Investments in Fund shares sold	—		—		—		—		—		1		—		—		—		—
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	—		9,812		—		3,571		4,568		17,298		—		4,897		—		4,665

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	—		—		—		—		—		1		—		—		—		—
Total liabilities	—		—		—		—		—		1		—		—		—		—
Net assets (Note 6)	$	—	$	9,812	$	—	$	3,571	$	4,568	$	17,297	$	—	$	4,897	$	—	$	4,665


(a) Investments in Funds, shares outstanding	—		467		—		202		317		1,108		—		272		—		299
Investments in Funds, at cost	$	—	$	6,908	$	—	$	3,449	$	4,761	$	14,878	$	—	$	3,388	$	—	$	3,823

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/S&P Managed Moderate Fund - A		JNL/S&P Managed Moderate Growth Fund - A		JNL/S&P Mid 3 Fund - A		JNL/S&P Total Yield Fund - A		JNL/T. Rowe Price Established Growth Fund - A		JNL/T. Rowe Price Mid-Cap Growth Fund - A		JNL/T. Rowe Price Short-Term Bond Fund - A		JNL/T. Rowe Price Value Fund - A		JNL/WMC Balanced Fund - A		JNL/WMC Money Market Fund - A
Assets
Investments, at fair value (a)	$	—	$	79,133	$	—	$	—	$	50,183	$	60,514	$	—	$	50,554	$	55,057	$	—
Receivables:
Investments in Fund shares sold	—		3		—		—		2		2		—		2		2		—
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	—		79,136		—		—		50,185		60,516		—		50,556		55,059		—

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	—		3		—		—		2		2		—		2		2		—
Total liabilities	—		3		—		—		2		2		—		2		2		—
Net assets (Note 6)	$	—	$	79,133	$	—	$	—	$	50,183	$	60,514	$	—	$	50,554	$	55,057	$	—


(a) Investments in Funds, shares outstanding	—		5,234		—		—		1,447		1,516		—		3,241		2,487		—
Investments in Funds, at cost	$	—	$	61,539	$	—	$	—	$	34,626	$	44,389	$	—	$	42,999	$	42,042	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/WMC Value Fund - A		JNL/MC Communications Sector Fund - A		JNL/MC Consumer Brands Sector Fund - A		JNL/MC Financial Sector Fund - A		JNL/MC Healthcare Sector Fund - A		JNL/MC JNL 5 Fund - A		JNL/MC Nasdaq 100 Fund - A		JNL/MC Oil & Gas Sector Fund - A		JNL/MC S&P 24 Fund - A		JNL/MC S&P SMid 60 Fund - A
Assets
Investments, at fair value (a)	$	—	$	—	$	—	$	—	$	—	$	65,119	$	—	$	—	$	—	$	—
Receivables:
Investments in Fund shares sold	—		—		—		—		—		3		—		—		—		—
Investment Division units sold	—		—		—		—		—		—		—		—		—		—
Total assets	—		—		—		—		—		65,122		—		—		—		—

Liabilities
Payables:
Investments in Fund shares purchased	—		—		—		—		—		—		—		—		—		—
Investment Division units redeemed	—		—		—		—		—		—		—		—		—		—
Insurance fees due to Jackson
of New York	—		—		—		—		—		3		—		—		—		—
Total liabilities	—		—		—		—		—		3		—		—		—		—
Net assets (Note 6)	$	—	$	—	$	—	$	—	$	—	$	65,119	$	—	$	—	$	—	$	—


(a) Investments in Funds, shares outstanding	—		—		—		—		—		4,778		—		—		—		—
Investments in Funds, at cost	$	—	$	—	$	—	$	—	$	—	$	60,473	$	—	$	—	$	—	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Assets and Liabilities
December 31, 2016

	JNL/MC Technology Sector Fund - A
Assets
Investments, at fair value (a)	$	10,182
Receivables:
Investments in Fund shares sold	—
Investment Division units sold	—
Total assets	10,182

Liabilities
Payables:
Investments in Fund shares purchased	—
Investment Division units redeemed	—
Insurance fees due to Jackson
of New York	—
Total liabilities	—
Net assets (Note 6)	$	10,182


(a) Investments in Funds, shares outstanding	883
Investments in Funds, at cost	$	6,383

See notes to financial statements.

JNLNY Separate Account II

Statements of Operations

For the Year Ended December 31, 2016

JNL/DoubleLine Total Return Fund

JNL/PIMCO Credit Income Fund

JNL Alt 65 Fund - A

JNL Disciplined Growth Fund - A

JNL Disciplined Moderate Fund - A

JNL Disciplined Moderate Growth Fund - A

JNL Institutional Alt 20 Fund - A

JNL Institutional Alt 35 Fund - A

JNL Institutional Alt 50 Fund - A

JNL Multi-Manager Mid Cap Fund - A (a)

Investment income

Dividends

—

Expenses

Asset-based charges (Note 3)

—

Total expenses

—

Net investment income (loss)

—

Realized and unrealized gain (loss)

Net realized gain (loss) on:

Distributions from investment companies

—

Investments

—

Net change in unrealized appreciation

(depreciation) on investments

—

Net realized and unrealized gain (loss)

—

Net increase (decrease) in net assets

from operations

—

(a) Commencement of operations September 19, 2016.

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL Multi-Manager Small Cap Growth Fund - A			JNL Multi-Manager Small Cap Value Fund - A		JNL/American Funds Balanced Allocation Fund - A		JNL/American Funds Blue Chip Income and Growth Fund - A		JNL/American Funds Global Bond Fund - A		JNL/American Funds Global Small Capitalization Fund - A		JNL/American Funds Growth-Income Fund - A		JNL/American Funds Growth Allocation Fund - A		JNL/American Funds International Fund - A		JNL/American Funds New World Fund - A
Investment income
Dividends	$	—		$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Expenses
Asset-based charges (Note 3)	36			—		—		—		—		—		—		—		—		—
Total expenses	36			—		—		—		—		—		—		—		—		—
Net investment income (loss)	(36		)	—		—		—		—		—		—		—		—		—

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	338			—		—		—		—		—		—		—		—		—
Investments	(49		)	—		—		—		—		—		—		—		—		—
Net change in unrealized appreciation
(depreciation) on investments	(117		)	—		—		—		—		—		—		—		—		—
Net realized and unrealized gain (loss)	172			—		—		—		—		—		—		—		—		—

Net increase (decrease) in net assets
from operations	$	136		$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/AQR Managed Futures Strategy Fund - A		JNL/BlackRock Global Allocation Fund - A			JNL/BlackRock Large Cap Select Growth Fund - A			JNL/BlackRock Natural Resources Fund - A		JNL/Brookfield Global Infrastructure and MLP Fund - A		JNL/Capital Guardian Global Balanced Fund - A		JNL/Capital Guardian Global Diversified Research Fund - A (b)			JNL/Causeway International Value Select Fund - A			JNL/Crescent High Income Fund - A (a)		JNL/DFA U.S. Core Equity Fund - A
Investment income
Dividends	$	—	$	23		$	—		$	—	$	—	$	—	$	31		$	618		$	—	$	439

Expenses
Asset-based charges (Note 3)	—		89			363			—		—		—		17			764			—		655
Total expenses	—		89			363			—		—		—		17			764			—		655
Net investment income (loss)	—		(66		)	(363		)	—		—		—		14			(146		)	—		(216		)

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	—		162			769			—		—		—		555			—			—		1,126
Investments	—		1			12			—		—		—		198			(176		)	—		69
Net change in unrealized appreciation
(depreciation) on investments	—		47			909			—		—		—		(605		)	(416		)	—		4,265
Net realized and unrealized gain (loss)	—		210			1,690			—		—		—		148			(592		)	—		5,460

Net increase (decrease) in net assets
from operations	$	—	$	144		$	1,327		$	—	$	—	$	—	$	162		$	(738	)	$	—	$	5,244

(a) Commencement of operations April 25, 2016.
(b) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements.

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/Eastspring Investments Asia ex-Japan Fund - A (a)		JNL/FPA + DoubleLine Flexible Allocation Fund - A			JNL/Franklin Templeton Founding Strategy Fund - A		JNL/Franklin Templeton Global Growth Fund - A		JNL/Franklin Templeton Global Multisector Bond Fund - A		JNL/Franklin Templeton Income Fund - A		JNL/Franklin Templeton International Small Cap Growth Fund - A		JNL/Franklin Templeton Mutual Shares Fund - A		JNL/Goldman Sachs Core Plus Bond Fund - A		JNL/Goldman Sachs Emerging Markets Debt Fund - A
Investment income
Dividends	$	—	$	56		$	—	$	—	$	—	$	186	$	—	$	—	$	—	$	—

Expenses
Asset-based charges (Note 3)	—		74			—		—		—		60		—		—		—		—
Total expenses	—		74			—		—		—		60		—		—		—		—
Net investment income (loss)	—		(18		)	—		—		—		126		—		—		—		—

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	—		93			—		—		—		—		—		—		—		—
Investments	—		(17		)	—		—		—		10		—		—		—		—
Net change in unrealized appreciation
(depreciation) on investments	—		58			—		—		—		336		—		—		—		—
Net realized and unrealized gain (loss)	—		134			—		—		—		346		—		—		—		—

Net increase (decrease) in net assets
from operations	$	—	$	116		$	—	$	—	$	—	$	472	$	—	$	—	$	—	$	—

(a) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements.

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/Goldman Sachs Mid Cap Value Fund - A		JNL/Goldman Sachs U.S. Equity Flex Fund - A		JNL/Invesco China-India Fund - A		JNL/Invesco Global Real Estate Fund - A			JNL/Invesco International Growth Fund - A			JNL/Invesco Large Cap Growth Fund - A (a)			JNL/Invesco Mid Cap Value Fund - A			JNL/Invesco Small Cap Growth Fund - A		JNL/JPMorgan MidCap Growth Fund - A		JNL/JPMorgan U.S. Government & Quality Bond Fund - A
Investment income
Dividends	$	—	$	—	$	—	$	246		$	200		$	—		$	128		$	—	$	—	$	—

Expenses
Asset-based charges (Note 3)	—		—		—		192			177			152			447			—		—		—
Total expenses	—		—		—		192			177			152			447			—		—		—
Net investment income (loss)	—		—		—		54			23			(152		)	(319		)	—		—		—

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	—		—		—		361			247			3,859			852			—		—		—
Investments	—		—		—		57			43			(1,161		)	26			—		—		—
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		(304		)	(632		)	(4,369		)	3,441			—		—		—
Net realized and unrealized gain (loss)	—		—		—		114			(342		)	(1,671		)	4,319			—		—		—

Net increase (decrease) in net assets
from operations	$	—	$	—	$	—	$	168		$	(319	)	$	(1,823	)	$	4,000		$	—	$	—	$	—


(a) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements.

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/Lazard Emerging Markets Fund - A		JNL/MC 10 x 10 Fund - A		JNL/MC Bond Index Fund - A		JNL/MC Emerging Markets Index Fund - A		JNL/MC European 30 Fund - A		JNL/MC Index 5 Fund - A		JNL/MC International Index Fund - A		JNL/MC Pacific Rim 30 Fund - A		JNL/MC S&P 400 MidCap Index Fund - A			JNL/MC S&P 500 Index Fund - A
Investment income
Dividends	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	78		$	53

Expenses
Asset-based charges (Note 3)	—		—		—		—		—		—		—		—		699			655
Total expenses	—		—		—		—		—		—		—		—		699			655
Net investment income (loss)	—		—		—		—		—		—		—		—		(621		)	(602		)

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	—		—		—		—		—		—		—		—		231			63
Investments	—		—		—		—		—		—		—		—		1,020			524
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		—		—		—		—		—		7,437			4,144
Net realized and unrealized gain (loss)	—		—		—		—		—		—		—		—		8,688			4,731

Net increase (decrease) in net assets
from operations	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	8,067		$	4,129

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/MC Small Cap Index Fund - A			JNL/Morgan Stanley Mid Cap Growth Fund - A		JNL/Neuberger Berman Strategic Income Fund - A		JNL/Oppenheimer Global Growth Fund - A			JNL/PIMCO Real Return Fund - A		JNL/PIMCO Total Return Bond Fund - A			JNL/PPM America Floating Rate Income Fund - A			JNL/PPM America High Yield Bond Fund - A			JNL/PPM America Mid Cap Value Fund - A		JNL/PPM America Small Cap Value Fund - A
Investment income
Dividends	$	347		$	—	$	—	$	322		$	—	$	130		$	113		$	4		$	—	$	—

Expenses
Asset-based charges (Note 3)	1,094			—		—		777			—		501			38			38			—		—
Total expenses	1,094			—		—		777			—		501			38			38			—		—
Net investment income (loss)	(747		)	—		—		(455		)	—		(371		)	75			(34		)	—		—

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	67			—		—		1,630			—		29			—			—			—		—
Investments	2,076			—		—		129			—		(30		)	(5		)	(26		)	—		—
Net change in unrealized appreciation
(depreciation) on investments	15,101			—		—		(1,822		)	—		755			116			420			—		—
Net realized and unrealized gain (loss)	17,244			—		—		(63		)	—		754			111			394			—		—

Net increase (decrease) in net assets
from operations	$	16,497		$	—	$	—	$	(518	)	$	—	$	383		$	186		$	360		$	—	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/PPM America Total Return Fund - A (a)		JNL/PPM America Value Equity Fund - A		JNL/Red Rocks Listed Private Equity Fund - A		JNL/S&P 4 Fund - A			JNL/S&P Competitive Advantage Fund - A			JNL/S&P Dividend Income & Growth Fund - A		JNL/S&P Intrinsic Value Fund - A		JNL/S&P Managed Aggressive Growth Fund - A			JNL/S&P Managed Conservative Fund - A		JNL/S&P Managed Growth Fund - A
Investment income
Dividends	$	—	$	169	$	—	$	—		$	46		$	386	$	—	$	—		$	—	$	—

Expenses
Asset-based charges (Note 3)	—		128		—		52			66			254		—		70			—		66
Total expenses	—		128		—		52			66			254		—		70			—		66
Net investment income (loss)	—		41		—		(52		)	(20		)	132		—		(70		)	—		(66		)

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	—		—		—		—			465			633		—		—			—		—
Investments	—		27		—		1			(7		)	165		—		28			—		23
Net change in unrealized appreciation
(depreciation) on investments	—		1,555		—		348			(237		)	1,564		—		249			—		242
Net realized and unrealized gain (loss)	—		1,582		—		349			221			2,362		—		277			—		265

Net increase (decrease) in net assets
from operations	$	—	$	1,623	$	—	$	297		$	201		$	2,494	$	—	$	207		$	—	$	199


(a) On April 25, 2016, JNL/PPM America Total Return Fund was created in the JNL Series Trust to facilitate an acquisition of a fund with the same name which was a series in JNL Investors Series Trust. Although the fund in JNL Investors Series Trust was
legally dissolved, it is considered the acquiring fund for financial reporting purposes, and as a result, the Statement of Operations includes activity of the acquiring fund formerly in JNL Investors Series Trust for the period January 1, 2016
through April 24, 2016 and the acquired fund in JNL Series Trust for the period after April 24, 2016.

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/S&P Managed Moderate Fund - A		JNL/S&P Managed Moderate Growth Fund - A			JNL/S&P Mid 3 Fund - A		JNL/S&P Total Yield Fund - A		JNL/T. Rowe Price Established Growth Fund - A			JNL/T. Rowe Price Mid-Cap Growth Fund - A			JNL/T. Rowe Price Short-Term Bond Fund - A		JNL/T. Rowe Price Value Fund - A		JNL/WMC Balanced Fund - A			JNL/WMC Money Market Fund - A
Investment income
Dividends	$	—	$	—		$	—	$	—	$	—		$	—		$	—	$	887	$	678		$	—

Expenses
Asset-based charges (Note 3)	—		1,167			—		—		696			869			—		700		779			—
Total expenses	—		1,167			—		—		696			869			—		700		779			—
Net investment income (loss)	—		(1,167		)	—		—		(696		)	(869		)	—		187		(101		)	—

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	—		—			—		—		252			369			—		3,447		1,493			—
Investments	—		930			—		—		202			234			—		238		172			—
Net change in unrealized appreciation
(depreciation) on investments	—		3,344			—		—		396			2,878			—		341		3,062			—
Net realized and unrealized gain (loss)	—		4,274			—		—		850			3,481			—		4,026		4,727			—

Net increase (decrease) in net assets
from operations	$	—	$	3,107		$	—	$	—	$	154		$	2,612		$	—	$	4,213	$	4,626		$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/WMC Value Fund - A		JNL/MC Communications Sector Fund - A		JNL/MC Consumer Brands Sector Fund - A		JNL/MC Financial Sector Fund - A		JNL/MC Healthcare Sector Fund - A		JNL/MC JNL 5 Fund - A		JNL/MC Nasdaq 100 Fund - A		JNL/MC Oil & Gas Sector Fund - A			JNL/MC S&P 24 Fund - A		JNL/MC S&P SMid 60 Fund - A
Investment income
Dividends	$	—	$	—	$	—	$	—	$	—	$	1,548	$	—	$	—		$	—	$	—

Expenses
Asset-based charges (Note 3)	—		—		—		—		—		907		—		—			—		—
Total expenses	—		—		—		—		—		907		—		—			—		—
Net investment income (loss)	—		—		—		—		—		641		—		—			—		—

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	—		—		—		—		—		—		—		—			—		—
Investments	—		—		—		—		—		15		—		—			—		—
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		—		—		5,540		—		(1		)	—		—
Net realized and unrealized gain (loss)	—		—		—		—		—		5,555		—		(1		)	—		—

Net increase (decrease) in net assets
from operations	$	—	$	—	$	—	$	—	$	—	$	6,196	$	—	$	(1	)	$	—	$	—

See notes to financial statements.



JNLNY Separate Account II
Statements of Operations
For the Year Ended December 31, 2016

	JNL/MC Technology Sector Fund - A
Investment income
Dividends	$	64

Expenses
Asset-based charges (Note 3)	141
Total expenses	141
Net investment income (loss)	(77		)

Realized and unrealized gain (loss)
Net realized gain (loss) on:
Distributions from investment companies	175
Investments	206
Net change in unrealized appreciation
(depreciation) on investments	783
Net realized and unrealized gain (loss)	1,164

Net increase (decrease) in net assets
from operations	$	1,087

See notes to financial statements.

JNLNY Separate Account II

Statements of Changes in Net Assets

For the Year Ended December 31, 2016

JNL/DoubleLine Total Return Fund

JNL/PIMCO Credit Income Fund

JNL Alt 65 Fund - A

JNL Disciplined Growth Fund - A

JNL Disciplined Moderate Fund - A

JNL Disciplined Moderate Growth Fund - A

JNL Institutional Alt 20 Fund - A

JNL Institutional Alt 35 Fund - A

JNL Institutional Alt 50 Fund - A

JNL Multi-Manager Mid Cap Fund - A (a)

Operations

Net investment income (loss)

—

Net realized gain (loss) on investments

—

Net change in unrealized appreciation

(depreciation) on investments

—

Net increase (decrease) in net assets

from operations

—

Contract transactions ¹

Purchase payments

—

Surrenders and terminations

—

Transfers between Investment Divisions

—

Contract owner charges (Note 3)

—

Net increase (decrease) in net assets from

contract transactions

—

Net increase (decrease) in net assets

—

Net assets beginning of period

—

Net assets end of period

—

¹ Contract Unit Transactions

Units Outstanding at December 31, 2015

—

Units Issued

—

Units Redeemed

—

Units Outstanding at December 31, 2016

—

(a) Commencement of operations September 19, 2016.

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL Multi-Manager Small Cap Growth Fund - A			JNL Multi-Manager Small Cap Value Fund - A		JNL/American Funds Balanced Allocation Fund - A		JNL/American Funds Blue Chip Income and Growth Fund - A		JNL/American Funds Global Bond Fund - A		JNL/American Funds Global Small Capitalization Fund - A		JNL/American Funds Growth-Income Fund - A		JNL/American Funds Growth Allocation Fund - A		JNL/American Funds International Fund - A		JNL/American Funds New World Fund - A
Operations
Net investment income (loss)	$	(36	)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Net realized gain (loss) on investments	289			—		—		—		—		—		—		—		—		—
Net change in unrealized appreciation
(depreciation) on investments	(117		)	—		—		—		—		—		—		—		—		—
Net increase (decrease) in net assets
from operations	136			—		—		—		—		—		—		—		—		—

Contract transactions ¹
Purchase payments	—			—		—		—		—		—		—		—		—		—
Surrenders and terminations	—			—		—		—		—		—		—		—		—		—
Transfers between Investment Divisions	13			—		—		—		—		—		—		—		—		—
Contract owner charges (Note 3)	—			—		—		—		—		—		—		—		—		—
Net increase (decrease) in net assets from
contract transactions	13			—		—		—		—		—		—		—		—		—

Net increase (decrease) in net assets	149			—		—		—		—		—		—		—		—		—

Net assets beginning of period	2,408			—		—		—		—		—		—		—		—		—

Net assets end of period	$	2,557		$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	112			—		—		—		—		—		—		—		—		—

Units Issued	14			—		—		—		—		—		—		—		—		—
Units Redeemed	(12		)	—		—		—		—		—		—		—		—		—

Units Outstanding at December 31, 2016	114			—		—		—		—		—		—		—		—		—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/AQR Managed Futures Strategy Fund - A		JNL/BlackRock Global Allocation Fund - A			JNL/BlackRock Large Cap Select Growth Fund - A			JNL/BlackRock Natural Resources Fund - A		JNL/Brookfield Global Infrastructure and MLP Fund - A		JNL/Capital Guardian Global Balanced Fund - A		JNL/Capital Guardian Global Diversified Research Fund - A (b)			JNL/Causeway International Value Select Fund - A			JNL/Crescent High Income Fund - A (a)		JNL/DFA U.S. Core Equity Fund - A
Operations
Net investment income (loss)	$	—	$	(66	)	$	(363	)	$	—	$	—	$	—	$	14		$	(146	)	$	—	$	(216	)
Net realized gain (loss) on investments	—		163			781			—		—		—		753			(176		)	—		1,195
Net change in unrealized appreciation
(depreciation) on investments	—		47			909			—		—		—		(605		)	(416		)	—		4,265
Net increase (decrease) in net assets
from operations	—		144			1,327			—		—		—		162			(738		)	—		5,244

Contract transactions ¹
Purchase payments	—		—			—			—		—		—		—			—			—		—
Surrenders and terminations	—		—			—			—		—		—		—			—			—		—
Transfers between Investment Divisions	—		195			33,950			—		—		—		(4,045		)	2,993			—		—
Contract owner charges (Note 3)	—		—			—			—		—		—		—			—			—		(4		)
Net increase (decrease) in net assets from
contract transactions	—		195			33,950			—		—		—		(4,045		)	2,993			—		(4		)

Net increase (decrease) in net assets	—		339			35,277			—		—		—		(3,883		)	2,255			—		5,240

Net assets beginning of period	—		5,868			—			—		—		—		3,883			52,239			—		42,553

Net assets end of period	$	—	$	6,207		$	35,277		$	—	$	—	$	—	$	—		$	54,494		$	—	$	47,793


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	—		509			—			—		—		—		253			3,538			—		2,674

Units Issued	—		17			3,367			—		—		—		1			208			—		—
Units Redeemed	—		—			—			—		—		—		(254		)	—			—		—

Units Outstanding at December 31, 2016	—		526			3,367			—		—		—		—			3,746			—		2,674

(a) Commencement of operations April 25, 2016.
(b) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements.

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/Eastspring Investments Asia ex-Japan Fund - A (a)		JNL/FPA + DoubleLine Flexible Allocation Fund - A			JNL/Franklin Templeton Founding Strategy Fund - A		JNL/Franklin Templeton Global Growth Fund - A		JNL/Franklin Templeton Global Multisector Bond Fund - A		JNL/Franklin Templeton Income Fund - A			JNL/Franklin Templeton International Small Cap Growth Fund - A		JNL/Franklin Templeton Mutual Shares Fund - A		JNL/Goldman Sachs Core Plus Bond Fund - A		JNL/Goldman Sachs Emerging Markets Debt Fund - A
Operations
Net investment income (loss)	$	—	$	(18	)	$	—	$	—	$	—	$	126		$	—	$	—	$	—	$	—
Net realized gain (loss) on investments	—		76			—		—		—		10			—		—		—		—
Net change in unrealized appreciation
(depreciation) on investments	—		58			—		—		—		336			—		—		—		—
Net increase (decrease) in net assets
from operations	—		116			—		—		—		472			—		—		—		—

Contract transactions ¹
Purchase payments	—		—			—		—		—		—			—		—		—		—
Surrenders and terminations	—		—			—		—		—		—			—		—		—		—
Transfers between Investment Divisions	—		189			—		—		—		(162		)	—		—		—		—
Contract owner charges (Note 3)	—		—			—		—		—		—			—		—		—		—
Net increase (decrease) in net assets from
contract transactions	—		189			—		—		—		(162		)	—		—		—		—

Net increase (decrease) in net assets	—		305			—		—		—		310			—		—		—		—

Net assets beginning of period	—		4,867			—		—		—		3,888			—		—		—		—

Net assets end of period	$	—	$	5,172		$	—	$	—	$	—	$	4,198		$	—	$	—	$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	—		399			—		—		—		306			—		—		—		—

Units Issued	—		23			—		—		—		—			—		—		—		—
Units Redeemed	—		(7		)	—		—		—		(12		)	—		—		—		—

Units Outstanding at December 31, 2016	—		415			—		—		—		294			—		—		—		—

(a) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements.

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/Goldman Sachs Mid Cap Value Fund - A		JNL/Goldman Sachs U.S. Equity Flex Fund - A		JNL/Invesco China-India Fund - A		JNL/Invesco Global Real Estate Fund - A			JNL/Invesco International Growth Fund - A			JNL/Invesco Large Cap Growth Fund - A (a)			JNL/Invesco Mid Cap Value Fund - A			JNL/Invesco Small Cap Growth Fund - A		JNL/JPMorgan MidCap Growth Fund - A		JNL/JPMorgan U.S. Government & Quality Bond Fund - A
Operations
Net investment income (loss)	$	—	$	—	$	—	$	54		$	23		$	(152	)	$	(319	)	$	—	$	—	$	—
Net realized gain (loss) on investments	—		—		—		418			290			2,698			878			—		—		—
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		(304		)	(632		)	(4,369		)	3,441			—		—		—
Net increase (decrease) in net assets
from operations	—		—		—		168			(319		)	(1,823		)	4,000			—		—		—

Contract transactions ¹
Purchase payments	—		—		—		—			—			—			—			—		—		—
Surrenders and terminations	—		—		—		—			—			—			—			—		—		—
Transfers between Investment Divisions	—		—		—		841			—			(33,950		)	—			—		—		—
Contract owner charges (Note 3)	—		—		—		—			—			—			—			—		—		—
Net increase (decrease) in net assets from
contract transactions	—		—		—		841			—			(33,950		)	—			—		—		—

Net increase (decrease) in net assets	—		—		—		1,009			(319		)	(35,773		)	4,000			—		—		—

Net assets beginning of period	—		—		—		12,893			11,992			35,773			29,289			—		—		—

Net assets end of period	$	—	$	—	$	—	$	13,902		$	11,673		$	—		$	33,289		$	—	$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	—		—		—		996			909			1,689			1,334			—		—		—

Units Issued	—		—		—		127			—			—			—			—		—		—
Units Redeemed	—		—		—		(59		)	—			(1,689		)	—			—		—		—

Units Outstanding at December 31, 2016	—		—		—		1,064			909			—			1,334			—		—		—

(a) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements.

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/Lazard Emerging Markets Fund - A		JNL/MC 10 x 10 Fund - A		JNL/MC Bond Index Fund - A		JNL/MC Emerging Markets Index Fund - A		JNL/MC European 30 Fund - A		JNL/MC Index 5 Fund - A		JNL/MC International Index Fund - A		JNL/MC Pacific Rim 30 Fund - A		JNL/MC S&P 400 MidCap Index Fund - A			JNL/MC S&P 500 Index Fund - A
Operations
Net investment income (loss)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	(621	)	$	(602	)
Net realized gain (loss) on investments	—		—		—		—		—		—		—		—		1,251			587
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		—		—		—		—		—		7,437			4,144
Net increase (decrease) in net assets
from operations	—		—		—		—		—		—		—		—		8,067			4,129

Contract transactions ¹
Purchase payments	—		—		—		—		—		—		—		—		—			—
Surrenders and terminations	—		—		—		—		—		—		—		—		—			—
Transfers between Investment Divisions	—		—		—		—		—		—		—		—		(3,759		)	(28		)
Contract owner charges (Note 3)	—		—		—		—		—		—		—		—		—			—
Net increase (decrease) in net assets from
contract transactions	—		—		—		—		—		—		—		—		(3,759		)	(28		)

Net increase (decrease) in net assets	—		—		—		—		—		—		—		—		4,308			4,101

Net assets beginning of period	—		—		—		—		—		—		—		—		45,754			43,115

Net assets end of period	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	50,062		$	47,216


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	—		—		—		—		—		—		—		—		2,059			2,341

Units Issued	—		—		—		—		—		—		—		—		—			29
Units Redeemed	—		—		—		—		—		—		—		—		(156		)	(34		)

Units Outstanding at December 31, 2016	—		—		—		—		—		—		—		—		1,903			2,336

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/MC Small Cap Index Fund - A			JNL/Morgan Stanley Mid Cap Growth Fund - A		JNL/Neuberger Berman Strategic Income Fund - A		JNL/Oppenheimer Global Growth Fund - A			JNL/PIMCO Real Return Fund - A		JNL/PIMCO Total Return Bond Fund - A			JNL/PPM America Floating Rate Income Fund - A			JNL/PPM America High Yield Bond Fund - A			JNL/PPM America Mid Cap Value Fund - A		JNL/PPM America Small Cap Value Fund - A
Operations
Net investment income (loss)	$	(747	)	$	—	$	—	$	(455	)	$	—	$	(371	)	$	75		$	(34	)	$	—	$	—
Net realized gain (loss) on investments	2,143			—		—		1,759			—		(1		)	(5		)	(26		)	—		—
Net change in unrealized appreciation
(depreciation) on investments	15,101			—		—		(1,822		)	—		755			116			420			—		—
Net increase (decrease) in net assets
from operations	16,497			—		—		(518		)	—		383			186			360			—		—

Contract transactions ¹
Purchase payments	—			—		—		—			—		—			—			—			—		—
Surrenders and terminations	—			—		—		—			—		(667		)	—			—			—		—
Transfers between Investment Divisions	(5,942		)	—		—		6,546			—		1			(28		)	(158		)	—		—
Contract owner charges (Note 3)	—			—		—		(3		)	—		(21		)	—			—			—		—
Net increase (decrease) in net assets from
contract transactions	(5,942		)	—		—		6,543			—		(687		)	(28		)	(158		)	—		—

Net increase (decrease) in net assets	10,555			—		—		6,025			—		(304		)	158			202			—		—

Net assets beginning of period	70,527			—		—		50,395			—		32,780			2,437			2,409			—		—

Net assets end of period	$	81,082		$	—	$	—	$	56,420		$	—	$	32,476		$	2,595		$	2,611		$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	3,745			—		—		2,370			—		1,952			233			154			—		—

Units Issued	—			—		—		324			—		—			5			—			—		—
Units Redeemed	(273		)	—		—		(3		)	—		(41		)	(8		)	(9		)	—		—

Units Outstanding at December 31, 2016	3,472			—		—		2,691			—		1,911			230			145			—		—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/PPM America Total Return Fund - A (a)		JNL/PPM America Value Equity Fund - A			JNL/Red Rocks Listed Private Equity Fund - A		JNL/S&P 4 Fund - A			JNL/S&P Competitive Advantage Fund - A			JNL/S&P Dividend Income & Growth Fund - A			JNL/S&P Intrinsic Value Fund - A		JNL/S&P Managed Aggressive Growth Fund - A			JNL/S&P Managed Conservative Fund - A		JNL/S&P Managed Growth Fund - A
Operations
Net investment income (loss)	$	—	$	41		$	—	$	(52	)	$	(20	)	$	132		$	—	$	(70	)	$	—	$	(66	)
Net realized gain (loss) on investments	—		27			—		1			458			798			—		28			—		23
Net change in unrealized appreciation
(depreciation) on investments	—		1,555			—		348			(237		)	1,564			—		249			—		242
Net increase (decrease) in net assets
from operations	—		1,623			—		297			201			2,494			—		207			—		199

Contract transactions ¹
Purchase payments	—		—			—		—			—			—			—		—			—		—
Surrenders and terminations	—		—			—		—			—			(580		)	—		—			—		—
Transfers between Investment Divisions	—		—			—		(68		)	145			(388		)	—		—			—		88
Contract owner charges (Note 3)	—		(4		)	—		—			—			(20		)	—		(34		)	—		—
Net increase (decrease) in net assets from
contract transactions	—		(4		)	—		(68		)	145			(988		)	—		(34		)	—		88

Net increase (decrease) in net assets	—		1,619			—		229			346			1,506			—		173			—		287

Net assets beginning of period	—		8,193			—		3,342			4,222			15,791			—		4,724			—		4,378

Net assets end of period	$	—	$	9,812		$	—	$	3,571		$	4,568		$	17,297		$	—	$	4,897		$	—	$	4,665


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	—		614			—		179			203			890			—		266			—		253

Units Issued	—		—			—		10			19			—			—		—			—		10
Units Redeemed	—		—			—		(13		)	(11		)	(49		)	—		(2		)	—		(5		)

Units Outstanding at December 31, 2016	—		614			—		176			211			841			—		264			—		258

(a) On April 25, 2016, JNL/PPM America Total Return Fund was created in the JNL Series Trust to facilitate an acquisition of a fund with the same name which was a series in JNL Investors Series Trust. Although the fund in JNL Investors Series Trust was
legally dissolved, it is considered the acquiring fund for financial reporting purposes, and as a result, the Statement of Changes in Net Assets includes activity of the acquiring fund formerly in JNL Investors Series Trust for the period January 1, 2016
through April 24, 2016 and the acquired fund in JNL Series Trust for the period after April 24, 2016.

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/S&P Managed Moderate Fund - A		JNL/S&P Managed Moderate Growth Fund - A			JNL/S&P Mid 3 Fund - A		JNL/S&P Total Yield Fund - A		JNL/T. Rowe Price Established Growth Fund - A			JNL/T. Rowe Price Mid-Cap Growth Fund - A			JNL/T. Rowe Price Short-Term Bond Fund - A		JNL/T. Rowe Price Value Fund - A			JNL/WMC Balanced Fund - A			JNL/WMC Money Market Fund - A
Operations
Net investment income (loss)	$	—	$	(1,167	)	$	—	$	—	$	(696	)	$	(869	)	$	—	$	187		$	(101	)	$	—
Net realized gain (loss) on investments	—		930			—		—		454			603			—		3,685			1,665			—
Net change in unrealized appreciation
(depreciation) on investments	—		3,344			—		—		396			2,878			—		341			3,062			—
Net increase (decrease) in net assets
from operations	—		3,107			—		—		154			2,612			—		4,213			4,626			—

Contract transactions ¹
Purchase payments	—		—			—		—		—			—			—		—			—			—
Surrenders and terminations	—		(3,621		)	—		—		—			—			—		—			—			—
Transfers between Investment Divisions	—		—			—		—		3,615			(2		)	—		(72		)	—			—
Contract owner charges (Note 3)	—		(14		)	—		—		—			(7		)	—		—			(5		)	—
Net increase (decrease) in net assets from
contract transactions	—		(3,635		)	—		—		3,615			(9		)	—		(72		)	(5		)	—

Net increase (decrease) in net assets	—		(528		)	—		—		3,769			2,603			—		4,141			4,621			—

Net assets beginning of period	—		79,661			—		—		46,414			57,911			—		46,413			50,436			—

Net assets end of period	$	—	$	79,133		$	—	$	—	$	50,183		$	60,514		$	—	$	50,554		$	55,057		$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	—		4,876			—		—		2,007			1,916			—		2,239			2,740			—

Units Issued	—		—			—		—		165			4			—		40			—			—
Units Redeemed	—		(220		)	—		—		—			(4		)	—		(45		)	—			—

Units Outstanding at December 31, 2016	—		4,656			—		—		2,172			1,916			—		2,234			2,740			—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/WMC Value Fund - A		JNL/MC Communications Sector Fund - A		JNL/MC Consumer Brands Sector Fund - A		JNL/MC Financial Sector Fund - A		JNL/MC Healthcare Sector Fund - A		JNL/MC JNL 5 Fund - A			JNL/MC Nasdaq 100 Fund - A		JNL/MC Oil & Gas Sector Fund - A			JNL/MC S&P 24 Fund - A		JNL/MC S&P SMid 60 Fund - A
Operations
Net investment income (loss)	$	—	$	—	$	—	$	—	$	—	$	641		$	—	$	—		$	—	$	—
Net realized gain (loss) on investments	—		—		—		—		—		15			—		—			—		—
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		—		—		5,540			—		(1		)	—		—
Net increase (decrease) in net assets
from operations	—		—		—		—		—		6,196			—		(1		)	—		—

Contract transactions ¹
Purchase payments	—		—		—		—		—		—			—		—			—		—
Surrenders and terminations	—		—		—		—		—		—			—		—			—		—
Transfers between Investment Divisions	—		—		—		—		—		—			—		1			—		—
Contract owner charges (Note 3)	—		—		—		—		—		(30		)	—		—			—		—
Net increase (decrease) in net assets from
contract transactions	—		—		—		—		—		(30		)	—		1			—		—

Net increase (decrease) in net assets	—		—		—		—		—		6,166			—		—			—		—

Net assets beginning of period	—		—		—		—		—		58,953			—		—			—		—

Net assets end of period	$	—	$	—	$	—	$	—	$	—	$	65,119		$	—	$	—		$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	—		—		—		—		—		3,719			—		—			—		—

Units Issued	—		—		—		—		—		—			—		—			—		—
Units Redeemed	—		—		—		—		—		(2		)	—		—			—		—

Units Outstanding at December 31, 2016	—		—		—		—		—		3,717			—		—			—		—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2016

	JNL/MC Technology Sector Fund - A
Operations
Net investment income (loss)	$	(77	)
Net realized gain (loss) on investments	381
Net change in unrealized appreciation
(depreciation) on investments	783
Net increase (decrease) in net assets
from operations	1,087

Contract transactions ¹
Purchase payments	—
Surrenders and terminations	—
Transfers between Investment Divisions	29
Contract owner charges (Note 3)	—
Net increase (decrease) in net assets from
contract transactions	29

Net increase (decrease) in net assets	1,116

Net assets beginning of period	9,066

Net assets end of period	$	10,182


¹ Contract Unit Transactions
Units Outstanding at December 31, 2015	451

Units Issued	21
Units Redeemed	(18		)

Units Outstanding at December 31, 2016	454

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/DoubleLine Total Return Fund (a)		JNL/PIMCO Credit Income Fund (a)		JNL Alt 65 Fund - A		JNL Disciplined Growth Fund - A		JNL Disciplined Moderate Fund - A		JNL Disciplined Moderate Growth Fund - A		JNL Institutional Alt 20 Fund - A		JNL Institutional Alt 35 Fund - A		JNL Institutional Alt 50 Fund - A		JNL Multi-Manager Small Cap Growth Fund - A
Operations
Net investment income (loss)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	(38	)
Net realized gain (loss) on investments	—		—		—		—		—		—		—		—		—		342
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		—		—		—		—		—		—		(450		)
Net increase (decrease) in net assets
from operations	—		—		—		—		—		—		—		—		—		(146		)

Contract transactions¹
Purchase payments	—		—		—		—		—		—		—		—		—		—
Surrenders and terminations	—		—		—		—		—		—		—		—		—		—
Transfers between Investment Divisions	—		—		—		—		—		—		—		—		—		(18		)
Contract owner charges (Note 3)	—		—		—		—		—		—		—		—		—		(1		)
Net increase (decrease) in net assets from
contract transactions	—		—		—		—		—		—		—		—		—		(19		)

Net increase (decrease) in net assets	—		—		—		—		—		—		—		—		—		(165		)

Net assets beginning of period	—		—		—		—		—		—		—		—		—		2,573

Net assets end of period	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	2,408


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	—		—		—		—		—		—		—		—		—		112

Units Issued	—		—		—		—		—		—		—		—		—		119
Units Redeemed	—		—		—		—		—		—		—		—		—		(119		)

Units Outstanding at December 31, 2015	—		—		—		—		—		—		—		—		—		112

(a) The Fund was made available to the separate account effective September 28, 2015.

See notes to financial statements.

JNLNY Separate Account II

Statements of Changes in Net Assets

For the Year Ended December 31, 2015

JNL Multi-Manager Small Cap Value Fund - A

JNL/American Funds Balanced Allocation Fund - A

JNL/American Funds Blue Chip Income and Growth Fund - A

JNL/American Funds Global Bond Fund - A

JNL/American Funds Global Small Capitalization Fund - A

JNL/American Funds Growth-Income Fund - A

JNL/American Funds Growth Allocation Fund - A

JNL/American Funds International Fund - A

JNL/American Funds New World Fund - A

JNL/AQR Managed Futures Strategy Fund - A (a)

Operations

Net investment income (loss)

—

Net realized gain (loss) on investments

—

Net change in unrealized appreciation

(depreciation) on investments

—

Net increase (decrease) in net assets

from operations

—

Contract transactions¹

Purchase payments

—

Surrenders and terminations

—

Transfers between Investment Divisions

—

Contract owner charges (Note 3)

—

Net increase (decrease) in net assets from

contract transactions

—

Net increase (decrease) in net assets

—

Net assets beginning of period

—

Net assets end of period

—

¹ Contract Unit Transactions

Units Outstanding at December 31, 2014

—

Units Issued

—

Units Redeemed

—

Units Outstanding at December 31, 2015

—

(a) The Fund was made available to the separate account effective April 27, 2015.

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/BlackRock Global Allocation Fund - A			JNL/BlackRock Large Cap Select Growth Fund - A		JNL/BlackRock Natural Resources Fund - A		JNL/Brookfield Global Infrastructure and MLP Fund - A		JNL/Capital Guardian Global Balanced Fund - A		JNL/Capital Guardian Global Diversified Research Fund - A			JNL/Causeway International Value Select Fund - A			JNL/DFA U.S. Core Equity Fund - A			JNL/Eastspring Investments Asia ex-Japan Fund - A		JNL/Eastspring Investments China-India Fund - A
Operations
Net investment income (loss)	$	29		$	—	$	—	$	—	$	—	$	(27	)	$	944		$	(290	)	$	—	$	—
Net realized gain (loss) on investments	332			—		—		—		—		52			(93		)	1,627			—		—
Net change in unrealized appreciation
(depreciation) on investments	(529		)	—		—		—		—		31			(3,522		)	(2,905		)	—		—
Net increase (decrease) in net assets
from operations	(168		)	—		—		—		—		56			(2,671		)	(1,568		)	—		—

Contract transactions¹
Purchase payments	—			—		—		—		—		—			—			—			—		—
Surrenders and terminations	—			—		—		—		—		—			—			—			—		—
Transfers between Investment Divisions	52			—		—		—		—		(144		)	2,569			—			—		—
Contract owner charges (Note 3)	(4		)	—		—		—		—		(2		)	—			(4		)	—		—
Net increase (decrease) in net assets from
contract transactions	48			—		—		—		—		(146		)	2,569			(4		)	—		—

Net increase (decrease) in net assets	(120		)	—		—		—		—		(90		)	(102		)	(1,572		)	—		—

Net assets beginning of period	5,988			—		—		—		—		3,973			52,341			44,125			—		—

Net assets end of period	$	5,868		$	—	$	—	$	—	$	—	$	3,883		$	52,239		$	42,553		$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	504			—		—		—		—		262			3,368			2,674			—		—

Units Issued	512			—		—		—		—		268			3,561			2,674			—		—
Units Redeemed	(507		)	—		—		—		—		(277		)	(3,391		)	(2,674		)	—		—

Units Outstanding at December 31, 2015	509			—		—		—		—		253			3,538			2,674			—		—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/Franklin Templeton Founding Strategy Fund - A		JNL/Franklin Templeton Global Growth Fund - A		JNL/Franklin Templeton Global Multisector Bond Fund - A		JNL/Franklin Templeton Income Fund - A			JNL/Franklin Templeton International Small Cap Growth Fund - A		JNL/Franklin Templeton Mutual Shares Fund - A		JNL/Goldman Sachs Core Plus Bond Fund - A		JNL/Goldman Sachs Emerging Markets Debt Fund - A		JNL/Goldman Sachs Mid Cap Value Fund - A		JNL/Goldman Sachs U.S. Equity Flex Fund - A
Operations
Net investment income (loss)	$	—	$	—	$	—	$	110		$	—	$	—	$	—	$	—	$	—	$	—
Net realized gain (loss) on investments	—		—		—		7			—		—		—		—		—		—
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		(478		)	—		—		—		—		—		—
Net increase (decrease) in net assets
from operations	—		—		—		(361		)	—		—		—		—		—		—

Contract transactions¹
Purchase payments	—		—		—		—			—		—		—		—		—		—
Surrenders and terminations	—		—		—		—			—		—		—		—		—		—
Transfers between Investment Divisions	—		—		—		237			—		—		—		—		—		—
Contract owner charges (Note 3)	—		—		—		(2		)	—		—		—		—		—		—
Net increase (decrease) in net assets from
contract transactions	—		—		—		235			—		—		—		—		—		—

Net increase (decrease) in net assets	—		—		—		(126		)	—		—		—		—		—		—

Net assets beginning of period	—		—		—		4,014			—		—		—		—		—		—

Net assets end of period	$	—	$	—	$	—	$	3,888		$	—	$	—	$	—	$	—	$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	—		—		—		288			—		—		—		—		—		—

Units Issued	—		—		—		305			—		—		—		—		—		—
Units Redeemed	—		—		—		(287		)	—		—		—		—		—		—

Units Outstanding at December 31, 2015	—		—		—		306			—		—		—		—		—		—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/Invesco Global Real Estate Fund - A			JNL/Invesco International Growth Fund - A			JNL/Invesco Large Cap Growth Fund - A			JNL/Invesco Mid Cap Value Fund - A			JNL/Invesco Small Cap Growth Fund - A		JNL/Ivy Asset Strategy Fund - A			JNL/JPMorgan MidCap Growth Fund - A		JNL/JPMorgan U.S. Government & Quality Bond Fund - A		JNL/Lazard Emerging Markets Fund - A		JNL/MC 10 x 10 Fund - A
Operations
Net investment income (loss)	$	171		$	30		$	(531	)	$	(379	)	$	—	$	(37	)	$	—	$	—	$	—	$	—
Net realized gain (loss) on investments	847			56			3,977			951			—		281			—		—		—		—
Net change in unrealized appreciation
(depreciation) on investments	(1,344		)	(519		)	(2,256		)	(3,984		)	—		(780		)	—		—		—		—
Net increase (decrease) in net assets
from operations	(326		)	(433		)	1,190			(3,412		)	—		(536		)	—		—		—		—

Contract transactions¹
Purchase payments	—			—			—			—			—		—			—		—		—		—
Surrenders and terminations	—			—			—			—			—		—			—		—		—		—
Transfers between Investment Divisions	309			—			—			—			—		438			—		—		—		—
Contract owner charges (Note 3)	(2		)	—			—			—			—		(3		)	—		—		—		—
Net increase (decrease) in net assets from
contract transactions	307			—			—			—			—		435			—		—		—		—

Net increase (decrease) in net assets	(19		)	(433		)	1,190			(3,412		)	—		(101		)	—		—		—		—

Net assets beginning of period	12,912			12,425			34,583			32,701			—		4,968			—		—		—		—

Net assets end of period	$	12,893		$	11,992		$	35,773		$	29,289		$	—	$	4,867		$	—	$	—	$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	973			909			1,689			1,334			—		365			—		—		—		—

Units Issued	1,026			909			1,689			1,333			—		400			—		—		—		—
Units Redeemed	(1,003		)	(909		)	(1,689		)	(1,333		)	—		(366		)	—		—		—		—

Units Outstanding at December 31, 2015	996			909			1,689			1,334			—		399			—		—		—		—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/MC Bond Index Fund - A		JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund - A (b)		JNL/MC European 30 Fund - A		JNL/MC Global Alpha Fund - A (a)		JNL/MC Emerging Markets Index Fund - A		JNL/MC Index 5 Fund - A		JNL/MC International Index Fund - A		JNL/MC Pacific Rim 30 Fund - A		JNL/MC S&P 400 MidCap Index Fund - A			JNL/MC S&P 500 Index Fund - A
Operations
Net investment income (loss)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	(299	)	$	(64	)
Net realized gain (loss) on investments	—		—		—		—		—		—		—		—		3,610			1,517
Net change in unrealized appreciation
(depreciation) on investments	—		—		—		—		—		—		—		—		(5,251		)	(1,741		)
Net increase (decrease) in net assets
from operations	—		—		—		—		—		—		—		—		(1,940		)	(288		)

Contract transactions¹
Purchase payments	—		—		—		—		—		—		—		—		—			—
Surrenders and terminations	—		—		—		—		—		—		—		—		—			—
Transfers between Investment Divisions	—		—		—		—		—		—		—		—		448			(103		)
Contract owner charges (Note 3)	—		—		—		—		—		—		—		—		—			—
Net increase (decrease) in net assets from
contract transactions	—		—		—		—		—		—		—		—		448			(103		)

Net increase (decrease) in net assets	—		—		—		—		—		—		—		—		(1,492		)	(391		)

Net assets beginning of period	—		—		—		—		—		—		—		—		47,246			43,506

Net assets end of period	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	45,754		$	43,115


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	—		—		—		—		—		—		—		—		2,038			2,348

Units Issued	—		—		—		—		—		—		—		—		2,083			2,420
Units Redeemed	—		—		—		—		—		—		—		—		(2,062		)	(2,427		)

Units Outstanding at December 31, 2015	—		—		—		—		—		—		—		—		2,059			2,341

(a) The period is from January 1, 2015 through April 27, 2015, the date the Fund was acquired.
(b) The period is from January 1, 2015 through September 28, 2015, the date the Fund was acquired.

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/MC Small Cap Index Fund - A			JNL/Morgan Stanley Mid Cap Growth Fund - A		JNL/Neuberger Berman Strategic Income Fund - A		JNL/Oppenheimer Global Growth Fund - A			JNL/PIMCO Real Return Fund - A		JNL/PIMCO Total Return Bond Fund - A			JNL/PPM America Floating Rate Income Fund - A			JNL/PPM America High Yield Bond Fund - A			JNL/PPM America Mid Cap Value Fund - A		JNL/PPM America Small Cap Value Fund - A
Operations
Net investment income (loss)	$	(659	)	$	—	$	—	$	(352	)	$	—	$	475		$	54		$	124		$	—	$	—
Net realized gain (loss) on investments	8,770			—		—		1,693			—		1,011			—			(2		)	—		—
Net change in unrealized appreciation
(depreciation) on investments	(12,505		)	—		—		(192		)	—		(1,742		)	(121		)	(331		)	—		—
Net increase (decrease) in net assets
from operations	(4,394		)	—		—		1,149			—		(256		)	(67		)	(209		)	—		—

Contract transactions¹
Purchase payments	—			—		—		—			—		—			—			—			—		—
Surrenders and terminations	—			—		—		—			—		(737		)	—			—			—		—
Transfers between Investment Divisions	364			—		—		(23		)	—		(110		)	12			126			—		—
Contract owner charges (Note 3)	—			—		—		(3		)	—		(8		)	(1		)	(1		)	—		—
Net increase (decrease) in net assets from
contract transactions	364			—		—		(26		)	—		(855		)	11			125			—		—

Net increase (decrease) in net assets	(4,030		)	—		—		1,123			—		(1,111		)	(56		)	(84		)	—		—

Net assets beginning of period	74,557			—		—		49,272			—		33,891			2,493			2,493			—		—

Net assets end of period	$	70,527		$	—	$	—	$	50,395		$	—	$	32,780		$	2,437		$	2,409		$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	3,722			—		—		2,369			—		1,996			232			146			—		—

Units Issued	3,812			—		—		2,404			—		1,995			243			157			—		—
Units Redeemed	(3,789		)	—		—		(2,403		)	—		(2,039		)	(242		)	(149		)	—		—

Units Outstanding at December 31, 2015	3,745			—		—		2,370			—		1,952			233			154			—		—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/PPM America Value Equity Fund - A			JNL/Red Rocks Listed Private Equity Fund - A		JNL/S&P 4 Fund - A			JNL/S&P Competitive Advantage Fund - A			JNL/S&P Dividend Income & Growth Fund - A			JNL/S&P Intrinsic Value Fund - A		JNL/S&P Managed Aggressive Growth Fund - A			JNL/S&P Managed Conservative Fund - A		JNL/S&P Managed Growth Fund - A			JNL/S&P Managed Moderate Fund - A
Operations
Net investment income (loss)	$	(132	)	$	—	$	148		$	(37	)	$	160		$	—	$	(73	)	$	—	$	(68	)	$	—
Net realized gain (loss) on investments	30			—		128			472			2,660			—		31			—		22			—
Net change in unrealized appreciation
(depreciation) on investments	(813		)	—		(226		)	(439		)	(2,742		)	—		(39		)	—		(28		)	—
Net increase (decrease) in net assets
from operations	(915		)	—		50			(4		)	78			—		(81		)	—		(74		)	—

Contract transactions¹
Purchase payments	—			—		—			—			—			—		—			—		—			—
Surrenders and terminations	—			—		—			—			(549		)	—		—			—		—			—
Transfers between Investment Divisions	—			—		3,294			(337		)	(329		)	—		—			—		(67		)	—
Contract owner charges (Note 3)	(4		)	—		(2		)	(3		)	(6		)	—		(34		)	—		(3		)	—
Net increase (decrease) in net assets from
contract transactions	(4		)	—		3,292			(340		)	(884		)	—		(34		)	—		(70		)	—

Net increase (decrease) in net assets	(919		)	—		3,342			(344		)	(806		)	—		(115		)	—		(144		)	—

Net assets beginning of period	9,112			—		—			4,566			16,597			—		4,839			—		4,522			—

Net assets end of period	$	8,193		$	—	$	3,342		$	4,222		$	15,791		$	—	$	4,724		$	—	$	4,378		$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	614			—		—			219			927			—		268			—		257			—

Units Issued	613			—		180			221			936			—		268			—		258			—
Units Redeemed	(613		)	—		(1		)	(237		)	(973		)	—		(270		)	—		(262		)	—

Units Outstanding at December 31, 2015	614			—		179			203			890			—		266			—		253			—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/S&P Managed Moderate Growth Fund - A			JNL/S&P Mid 3 Fund - A		JNL/S&P Total Yield Fund - A		JNL/T. Rowe Price Established Growth Fund - A			JNL/T. Rowe Price Mid-Cap Growth Fund - A			JNL/T. Rowe Price Short-Term Bond Fund - A		JNL/T. Rowe Price Value Fund - A			JNL/WMC Balanced Fund - A			JNL/WMC Money Market Fund - A		JNL/WMC Value Fund - A
Operations
Net investment income (loss)	$	(1,258	)	$	—	$	—	$	(718	)	$	(873	)	$	—	$	(328	)	$	(156	)	$	—	$	—
Net realized gain (loss) on investments	3,139			—		—		4,973			5,235			—		3,964			2,243			—		—
Net change in unrealized appreciation
(depreciation) on investments	(3,487		)	—		—		(146		)	(1,654		)	—		(5,188		)	(3,327		)	—		—
Net increase (decrease) in net assets
from operations	(1,606		)	—		—		4,109			2,708			—		(1,552		)	(1,240		)	—		—

Contract transactions¹
Purchase payments	—			—		—		—			—			—		—			—			—		—
Surrenders and terminations	(3,728		)	—		—		—			(2		)	—		—			—			—		—
Transfers between Investment Divisions	(164		)	—		—		(4,333		)	(273		)	—		1,356			—			—		—
Contract owner charges (Note 3)	(8		)	—		—		—			(7		)	—		—			(5		)	—		—
Net increase (decrease) in net assets from
contract transactions	(3,900		)	—		—		(4,333		)	(282		)	—		1,356			(5		)	—		—

Net increase (decrease) in net assets	(5,506		)	—		—		(224		)	2,426			—		(196		)	(1,245		)	—		—

Net assets beginning of period	85,167			—		—		46,638			55,485			—		46,609			51,681			—		—

Net assets end of period	$	79,661		$	—	$	—	$	46,414		$	57,911		$	—	$	46,413		$	50,436		$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	5,096			—		—		2,199			1,925			—		2,174			2,740			—		—

Units Issued	5,096			—		—		2,213			1,924			—		2,275			2,737			—		—
Units Redeemed	(5,316		)	—		—		(2,405		)	(1,933		)	—		(2,210		)	(2,737		)	—		—

Units Outstanding at December 31, 2015	4,876			—		—		2,007			1,916			—		2,239			2,740			—		—

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/MC 25 Fund - A (b)			JNL/MC Communications Sector Fund - A		JNL/MC Consumer Brands Sector Fund - A		JNL/MC Financial Sector Fund - A		JNL/MC Healthcare Sector Fund - A		JNL/MC JNL 5 Fund - A			JNL/MC JNL Optimized 5 Fund - A (a)		JNL/MC Nasdaq 25 Fund - A		JNL/MC Oil & Gas Sector Fund - A		JNL/MC S&P 24 Fund - A
Operations
Net investment income (loss)	$	77		$	—	$	—	$	—	$	—	$	717		$	—	$	—	$	—	$	—
Net realized gain (loss) on investments	(437		)	—		—		—		—		31			—		—		—		—
Net change in unrealized appreciation
(depreciation) on investments	73			—		—		—		—		(3,500		)	—		—		—		—
Net increase (decrease) in net assets
from operations	(287		)	—		—		—		—		(2,752		)	—		—		—		—

Contract transactions¹
Purchase payments	—			—		—		—		—		—			—		—		—		—
Surrenders and terminations	—			—		—		—		—		—			—		—		—		—
Transfers between Investment Divisions	(3,225		)	—		—		—		—		—			—		—		—		—
Contract owner charges (Note 3)	—			—		—		—		—		(30		)	—		—		—		—
Net increase (decrease) in net assets from
contract transactions	(3,225		)	—		—		—		—		(30		)	—		—		—		—

Net increase (decrease) in net assets	(3,512		)	—		—		—		—		(2,782		)	—		—		—		—

Net assets beginning of period	3,512			—		—		—		—		61,735			—		—		—		—

Net assets end of period	$	—		$	—	$	—	$	—	$	—	$	58,953		$	—	$	—	$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	179			—		—		—		—		3,721			—		—		—		—

Units Issued	185			—		—		—		—		2,788			—		—		—		—
Units Redeemed	(364		)	—		—		—		—		(2,790		)	—		—		—		—

Units Outstanding at December 31, 2015	—			—		—		—		—		3,719			—		—		—		—

(a) The period is from January 1, 2015 through April 27, 2015, the date the Fund was acquired.
(b) The period is from January 1, 2015 through September 28, 2015, the date the Fund was acquired.

See notes to financial statements.



JNLNY Separate Account II
Statements of Changes in Net Assets
For the Year Ended December 31, 2015

	JNL/MC S&P SMid 60 Fund - A		JNL/MC Technology Sector Fund - A			JNL/MC Value Line 30 Fund - A (b)		JNL/PPM America Total Return Fund - A (a) (c)
Operations
Net investment income (loss)	$	—	$	(88	)	$	—	$	—
Net realized gain (loss) on investments	—		969			—		—
Net change in unrealized appreciation
(depreciation) on investments	—		(594		)	—		—
Net increase (decrease) in net assets
from operations	—		287			—		—

Contract transactions¹
Purchase payments	—		—			—		—
Surrenders and terminations	—		—			—		—
Transfers between Investment Divisions	—		(569		)	—		—
Contract owner charges (Note 3)	—		—			—		—
Net increase (decrease) in net assets from
contract transactions	—		(569		)	—		—

Net increase (decrease) in net assets	—		(282		)	—		—

Net assets beginning of period	—		9,348			—		—

Net assets end of period	$	—	$	9,066		$	—	$	—


¹ Contract Unit Transactions
Units Outstanding at December 31, 2014	—		478			—		—

Units Issued	—		487			—		—
Units Redeemed	—		(514		)	—		—

Units Outstanding at December 31, 2015	—		451			—		—

(a) The Fund was made available to the separate account effective April 27, 2015.
(b) The period is from January 1, 2015 through April 27, 2015, the date the Fund was acquired.
(c) On April 25, 2016, JNL/PPM America Total Return Fund was created in the JNL Series Trust to facilitate an acquisition of a fund with the same name which was a series in JNL Investors Series Trust. Although the fund in
JNL Investors Series Trust was legally dissolved, it is considered the acquiring fund for financial reporting purposes, and as a result, the Statement of Changes for the year ended December 31, 2015 reflects
activity of the acquiring fund formerly in JNL Investors Series Trust.

See notes to financial statements.

JNLNY Separate Account II

Notes to Financial Statements

December 31, 2016

Note 1 - Organization

Jackson National Life Insurance Company of New York (“Jackson”) established JNLNY Separate Account II (the “Separate Account”) on November 10, 1998. The Separate Account commenced operations on September 1, 2000, and is a unit investment trust registered with the Securities Exchange Commission (the “SEC”) under the Investment Company Act of 1940, as amended.

The Separate Account is a separate investment account of Jackson, its assets legally belong to Jackson and the obligations under the contracts are the obligation of Jackson. However, the contract assets in the Separate Account are not chargeable with liabilities arising out of any other business Jackson may conduct.

The Separate Account receives and invests, based on the directions of the contract owners, net premiums for individual flexible premium variable annuity contracts issued by Jackson. The contracts can be purchased on a non-tax qualified basis or in connection with certain plans qualifying for favorable federal income tax treatment. The Separate Account contained one-hundred one (101) Investment Divisions during 2016, but currently contains ninety-eight (98) Investment Divisions as of December 31, 2016. These Investment Divisions each invested in shares of the following mutual funds (collectively, the “Funds”) during the year ended December 31, 2016:



Jackson Variable Series Trust
JNL/DoubleLine Total Return Fund	JNL/PIMCO Credit Income Fund



JNL^® Series Trust
JNL Alt 65 Fund - A⁽¹⁾⁽⁶⁾ JNL Disciplined Growth Fund - A⁽¹⁾⁽⁶⁾ JNL Disciplined Moderate Fund - A⁽¹⁾⁽⁶⁾ JNL Disciplined Moderate Growth Fund - A⁽¹⁾⁽⁶⁾ JNL Institutional Alt 20 Fund - A⁽¹⁾⁽⁶⁾ JNL Institutional Alt 35 Fund - A⁽¹⁾⁽⁶⁾ JNL Institutional Alt 50 Fund - A⁽¹⁾⁽⁶⁾ JNL Multi-Manager Mid Cap Fund - A⁽⁶⁾ JNL Multi-Manager Small Cap Growth Fund - A⁽⁶⁾ JNL Multi-Manager Small Cap ValueFund - A⁽⁶⁾ JNL/American Funds^® Balanced Allocation Fund - A⁽¹⁾⁽⁶⁾ JNL/American Funds Blue Chip Income and Growth Fund - A⁽⁶⁾ JNL/American Funds Global Bond Fund - A⁽⁶⁾ JNL/American Funds Global Small Capitalization Fund - A⁽⁶⁾ JNL/American Funds Growth-Income Fund - A⁽⁶⁾ JNL/American Funds Growth Allocation Fund - A⁽¹⁾⁽⁶⁾ JNL/American Funds International Fund - A⁽⁶⁾ JNL/American Funds New World Fund - A⁽⁶⁾ JNL/AQR Managed Futures Strategy Fund - A⁽⁶⁾ JNL/BlackRock Global Allocation Fund - A⁽⁶⁾ JNL/BlackRock Large Cap Select Growth Fund - A⁽⁶⁾ JNL/BlackRock Natural Resources Fund - A⁽⁶⁾ JNL/Brookfield Global Infrastructure and MLP Fund - A⁽⁶⁾ JNL/Capital Guardian Global Balanced Fund - A⁽⁶⁾ JNL/Capital Guardian Global Diversified Research Fund - A⁽⁶⁾⁽⁷⁾	JNL/Causeway International Value Select Fund - A⁽⁶⁾ JNL/Crescent High Income Fund - A⁽⁶⁾ JNL/DFA U.S. Core Equity Fund - A⁽⁶⁾ JNL/Eastspring Investments Asia ex-Japan Fund - A^(2)(6)(7) JNL/FPA + DoubleLine Flexible Allocation Fund - A⁽⁵⁾⁽⁶⁾ JNL/Franklin Templeton Founding Strategy Fund - A⁽¹⁾⁽⁶⁾ JNL/Franklin Templeton Global Growth Fund - A⁽⁶⁾ JNL/Franklin Templeton Global Multisector Bond Fund - A⁽⁶⁾ JNL/Franklin Templeton Income Fund - A⁽⁶⁾ JNL/Franklin Templeton International Small Cap Value Fund - A⁽⁶⁾ JNL/Franklin Templeton Mutual Shares Fund - A⁽⁶⁾ JNL/Goldman Sachs Core Plus Bond Fund - A⁽⁶⁾ JNL/Goldman Sachs Emerging Markets Debt Fund - A⁽⁶⁾ JNL/Goldman Sachs Mid Cap Value Fund - A⁽⁶⁾ JNL/Goldman Sachs U.S. Equity Flex Fund - A⁽⁶⁾ JNL/Invesco China-India Fund - A^(2)(5)(6) JNL/Invesco Global Real Estate Fund - A⁽⁶⁾ JNL/Invesco International Growth Fund - A⁽⁶⁾ JNL/Invesco Large Cap Growth Fund - A⁽⁶⁾⁽⁷⁾ JNL/Invesco Mid Cap Value Fund - A⁽⁶⁾ JNL/Invesco Small Cap Growth Fund - A⁽⁶⁾ JNL/JPMorgan MidCap Growth Fund - A⁽⁶⁾ JNL/JPMorgan U.S. Government & Quality Bond Fund - A⁽⁶⁾ JNL/Lazard Emerging Markets Fund - A⁽⁶⁾ JNL/MC 10 x 10 Fund - A^(1)(3)(6)	JNL/MC Bond Index Fund - A⁽³⁾⁽⁶⁾ JNL/MC Emerging Markets Index Fund - A⁽³⁾⁽⁶⁾ JNL/MC European 30 Fund - A⁽³⁾⁽⁶⁾ JNL/MC Index 5 Fund - A^(1)(3)(6) JNL/MC International Index Fund - A⁽³⁾⁽⁶⁾ JNL/MC Pacific Rim 30 Fund - A⁽³⁾⁽⁶⁾ JNL/MC S&P 400 MidCap Index Fund - A⁽³⁾⁽⁶⁾ JNL/MC S&P 500 Index Fund - A⁽³⁾⁽⁶⁾ JNL/MC Small Cap Index Fund - A⁽³⁾⁽⁶⁾ JNL/Morgan Stanley Mid Cap Growth Fund - A⁽⁶⁾ JNL/Neuberger Berman Strategic Income Fund - A⁽⁶⁾ JNL/Oppenheimer Global Growth Fund - A⁽⁶⁾ JNL/PIMCO Real Return Fund - A⁽⁶⁾ JNL/PIMCO Total Return Bond Fund - A⁽⁶⁾ JNL/PPM America Floating Rate Income Fund - A⁽²⁾⁽⁶⁾ JNL/PPM America High Yield Bond Fund - A⁽²⁾⁽⁶⁾ JNL/PPM America Mid Cap Value Fund - A⁽²⁾⁽⁶⁾ JNL/PPM America Small Cap Value Fund - A⁽²⁾⁽⁶⁾ JNL/PPM America Total Return Fund - A⁽²⁾⁽⁶⁾ JNL/PPM America Value Equity Fund - A⁽²⁾⁽⁶⁾ JNL/Red Rocks Listed Private Equity F Fund - A⁽⁶⁾ JNL/S&P 4 Fund - A⁽¹⁾⁽⁶⁾ JNL/S&P Competitive Advantage Fund - A⁽⁶⁾ JNL/S&P Dividend Income & Growth Fund - A⁽⁶⁾ JNL/S&P Intrinsic Value Fund - A⁽⁶⁾

JNLNY Separate Account II

Notes to Financial Statements (continued)

December 31, 2016

Note 1 - Organization (continued)



JNL Series Trust (continued)
JNL/S&P Managed Aggressive Growth Fund - A⁽⁶⁾ JNL/S&P Managed Conservative Fund - A⁽⁶⁾ JNL/S&P Managed Growth Fund - A⁽⁶⁾ JNL/S&P Managed Moderate Fund - A⁽⁶⁾ JNL/S&P Managed Moderate Growth Fund - A⁽⁶⁾	JNL/S&P Mid 3 Fund - A⁽⁶⁾ JNL/S&P Total Yield Fund - A⁽⁶⁾ JNL/T. Rowe Price Established Growth Fund - A⁽⁶⁾ JNL/T. Rowe Price Mid-Cap Growth Fund - A⁽⁶⁾ JNL/T. Rowe Price Short-Term Bond Fund - A⁽⁶⁾	JNL/T. Rowe Price Value Fund - A⁽⁶⁾ JNL/WMC Balanced Fund - A⁽⁶⁾ JNL/WMC Money Market Fund - A⁽⁶⁾ JNL/WMC Value Fund - A⁽⁶⁾



JNL Variable Fund LLC
JNL/MC Communications Sector Fund - A^(3)(6)(8) JNL/MC Consumer Brands Sector Fund - A⁽³⁾⁽⁶⁾ JNL/MC Financial Sector Fund - A⁽³⁾⁽⁶⁾	JNL/MC Healthcare Sector Fund - A⁽³⁾⁽⁶⁾ JNL/MC JNL 5 Fund - A⁽³⁾⁽⁶⁾ JNL/MC Nasdaq^® 100 Fund - A^(3)(4)(6)	JNL/MC Oil & Gas Sector Fund - A⁽³⁾⁽⁶⁾ JNL/MC S&P^® 24 Fund - A⁽³⁾⁽⁶⁾ JNL/MC S&P^® SMid 60 Fund - A⁽³⁾⁽⁶⁾ JNL/MC Technology Sector Fund - A⁽³⁾⁽⁶⁾

Jackson National Asset Management, LLC (“JNAM”) serves as investment adviser for the Funds comprising the Jackson Variable Series Trust, JNL Series Trust, JNL Variable Fund LLC and JNL Investors Series Trust. JNAM is a wholly-owned subsidiary of Jackson and received fees for its services from each Fund.

During the year ended December 31, 2016, the following Funds changed names:



PRIOR FUND NAME	CURRENT FUND NAME	EFFECTIVE DATE
JNL/Eastspring Investments China-India Fund	JNL/Invesco China-India Fund	April 25, 2016
JNL/Ivy Asset Strategy Fund	JNL/FPA + DoubleLine Flexible Allocation Fund	April 25, 2016
JNL/MC Nasdaq^®25 Fund	JNL/MC Nasdaq^® 100 Fund	April 25, 2016

During the year ended December 31, 2016, the following fund acquisitions were completed:



ACQUIRED FUNDS	ACQUIRING FUNDS	DATE OF ACQUISITION
JNL/Capital Guardian Global Diversified Research Fund	JNL/Oppenheimer Global Growth Fund	April 25, 2016
JNL/Eastspring Investments Asia ex-Japan Fund	JNL/Invesco China-India Fund	April 25, 2016
JNL/Invesco Large Cap Growth Fund	JNL/BlackRock Large Cap Select Growth Fund	April 25, 2016
JNL/PPM America Total Return Fund⁽⁹⁾	JNL/PPM America Total Return Fund⁽⁹⁾	April 25, 2016

⁽¹⁾The Fund is a Fund of Fund advised by JNAM, an affiliate of Jackson and has no sub-advisor.

⁽²⁾ The Fund is or was sub-advised by an affiliate of Jackson during the year.

⁽³⁾“MC” denotes the sub-adviser Mellon Capital throughout these financial statements.

⁽⁴⁾The Fund’s name was changed during the year ended December 31, 2016 to align the Fund name with its investment strategy.

⁽⁵⁾The Fund’s name was changed during the year ended December 31, 2016 due to a change in sub-adviser(s).

⁽⁶⁾ “A” denotes Class A shares of the respective Fund throughout these financial statements.

JNLNY Separate Account II

Notes to Financial Statements (continued)

December 31, 2016

Note 1 - Organization (continued)

⁽⁷⁾ This Fund was acquired during the year and is no longer available as of December 31, 2016.

⁽⁸⁾ JNL/MC Communications Sector Fund is closed to new contract owners.

⁽⁹⁾The purpose of the acquisition was to facilitate an acquisition of a Fund with the same name and investment objective in JNL Investors Series Trust into a Fund in JNL Series Trust. Although the Fund in JNL Investors Series Trust was legally dissolved, it is considered the acquiring Fund for financial reporting purposes. The acquired Fund had no activity prior to inception on April 25, 2016 nor did it hold any investments on April 25, 2016, and as a result, there were no results of operations, net assets, cost basis or market value carried forward from the acquired Fund to the acquiring Fund.

Note 2 - Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Separate Account in the preparation of its financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increase and decrease in net assets from operations during the reporting period. Actual results could differ from those estimates.

Investments

The Separate Account’s Investment Divisions’ investments in the corresponding Funds are stated at the closing net asset value (“NAV”) of the respective Fund, which represent fair value. The average cost method is used in determining the cost of the shares sold on withdrawals by the Investment Divisions of the Separate Account. Investments in the Funds are recorded on trade date for financial reporting purposes. Realized gain distributions and dividend income distributions received from the Funds are reinvested in additional shares of the Funds and are recorded as gain or income to the Investment Divisions of the Separate Account on the ex-dividend date.

Federal Income Taxes

The operations of the Separate Account are taxed as part of the operations of Jackson, which is taxed as a “life insurance company” under the provisions of the Internal Revenue Code. Under current law, no federal income taxes are payable with respect to the Separate Account. Therefore, no federal income tax provision is required.Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 740 “Income Taxes” provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. FASB ASC Topic 740 establishes for all entities, a minimum threshold for financial statement recognition of the benefit of positions taken in filing tax returns (including whether an entity is taxable in a particular jurisdiction), and requires certain expanded tax disclosures. FASB ASC Topic 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Separate Account’s tax return to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax expense in the current year. The Interpretation requires that management evaluate the tax positions taken in the returns which remain subject to examination by the Internal Revenue Service and other tax jurisdictions. JNAM completed an evaluation of the Separate Account’s tax positions and based on that evaluation, determined that no provision for federal income tax is required in the Separate Account’s financial statements during the year ended December 31, 2016.

JNLNY Separate Account II

Notes to Financial Statements (continued)

December 31, 2016

Note 2 - Significant Accounting Policies (continued)

FASB ASC Topic 820, “Fair Value Measurement”

As of December 31, 2016, all of the Separate Account’s Investment Divisions’ investment in each of the corresponding Funds are valued as a practical expedient at their daily reported net asset value (“NAV”) and as such are not included in the fair value hierarchy required under FASB ASC Topic 820, “Fair Value Measurement”. On each valuation date, the NAV of each corresponding Fund is generally determined once each day on which the New York Stock Exchange (“NYSE”) is open, at the close of the regular trading session of the NYSE (generally, 4:00 PM Eastern Time). The characterization of the underlying securities held by the Funds in accordance with FASB ASC Topic 820 differs from the characterization of the Separate Account’s Investment Divisions’ investment in the corresponding Funds. Although there can be no assurance, in general, the fair value of the investment valued as a practical expedient is the amount the owner of such investment might reasonably expect to receive in an orderly transaction between market participants upon its current sale.

Note 3 - Contract Charges

Under the term of the contracts, certain charges are allocated to the contract owner to compensate Jackson for providing the insurance benefits set forth in the contracts, administering the contracts, distributing the contracts, and assuming certain risks in connection with the contracts. These charges result in a reduction in contract unit value or redemptions of contract units in the number of contract units outstanding.

Contract Owner Charges

The following charges are assessed to the contract owner by redemption of contract units outstanding:

Contract Maintenance Charge

An annual contract maintenance charge of $30 is charged against each contract to reimburse Jackson for expenses incurred in establishing and maintaining records relating to the contract. The contract maintenance charge is assessed on each anniversary of the contract date that occurs prior to the annuity date or in conjunction with a total withdrawal, as applicable. This charge is only imposed if the contract value is less than $50,000 on the date when the charge is assessed. The charge is deducted by redemption of contract units.

Transfer Charge

A transfer charge of $25 will apply to transfers made by contract owners between the Investment Divisions in excess of 15 transfers in a contract year. Contract year is defined as the succeeding twelve months from the contract issue date. Jackson may waive the transfer charge in connection with pre-authorized automatic transfer programs. This charge will be deducted from the amount transferred prior to the allocation to a different Investment Division.

Optional Benefit Charges

Guaranteed Minimum Withdrawal Benefit Charge. If this benefit has been selected, Jackson will assess an annual charge of 0.51% to 1.86%, depending on the benefit chosen. The charge will be deducted each calendar quarter from the contract value by redeeming units.

Asset-based Charges

The following charges are assessed to the contract owner by a reduction in contract unit value:

JNLNY Separate Account II

Notes to Financial Statements (continued)

December 31, 2016

Note 3 - Contract Charges (continued)

Insurance Charges

Jackson deducts a daily charge for administrative expenses from the net assets of the Separate Account equivalent to an annual rate of 0.15%. The administration charge is designed to reimburse Jackson for expenses incurred in administering the Separate Account and its contracts and reduces the contract unit value.

Jackson deducts a daily base contract charge from the net assets of the Separate Account equivalent to an annual rate of 1.35% for the assumption of mortality and expense risks. The mortality risk assumed by Jackson is that the insured may receive benefits greater than those anticipated by Jackson. The expense risk assumed by Jackson is that the actual cost of administering the contracts of the Separate Account may exceed the amount received from the Administration Charge and the Contract Maintenance Charge.

Premium Taxes

Some states and other governmental entities charge premium taxes or other similar taxes. Jackson pays these taxes and may make a deduction from the value of the contract for them. Premium taxes will not exceed 2.0%. Currently, New York does not impose premium taxes.

Note 4 - Purchases and Sales of Investments

For the year ended December 31, 2016, cost of purchases and proceeds from sales of the Investment Divisions’ investments in the corresponding Funds are as follows:

Jackson Variable Series Trust

Cost of

Purchases

Proceeds

from Sales

Cost of

Purchases

Proceeds

from Sales

JNL/DoubleLine Total Return Fund

—

JNL/PIMCO Credit Income Fund

—



JNL Series Trust
	Cost of Purchases		Proceeds from Sales			Cost of Purchases		Proceeds from Sales
JNL Alt 65 Fund - A	$	—	$	—	JNL/American Funds International Fund - A	$	—	$	—
JNL Disciplined Growth Fund - A	—		—		JNL/American Funds New World Fund - A	—		—
JNL Disciplined Moderate Fund - A	—		—		JNL/AQR Managed Futures Strategy Fund - A	—		—
JNL Disciplined Moderate Growth Fund - A	—		—		JNL/BlackRock Global Allocation Fund - A	380		89
JNL Institutional Alt 20 Fund - A	—		—		JNL/BlackRock Large Cap Select Growth Fund - A	34,719		363
JNL Institutional Alt 35 Fund - A	—		—		JNL/BlackRock Natural Resources Fund - A	—		—
JNL Institutional Alt 50 Fund - A	—		—		JNL/Brookfield Global Infrastructure and MLP Fund - A	—		—
JNL Multi-Manager Mid Cap Fund - A	—		—		JNL/Capital Guardian Global Balanced Fund - A	—		—
JNL Multi-Manager Small Cap Growth Fund - A	606		292		JNL/Capital Guardian Global Diversified Research Fund - A*	596		4,073
JNL Multi-Manager Small Cap Value Fund - A	—		—		JNL/Causeway International Value Select Fund - A	3,616		768
JNL/American Funds Balanced Allocation Fund - A	—		—		JNL/Crescent High Income Fund - A	—		—
JNL/American Funds Blue Chip Income and Growth Fund - A	—		—		JNL/DFA U.S. Core Equity Fund - A	1,565		659
JNL/American Funds Global Bond Fund - A	—		—		JNL/Eastspring Investments Asia ex-Japan Fund - A*	—		—
JNL/American Funds Global Small Capitalization Fund - A	—		—		JNL/FPA + DoubleLine Flexible Allocation Fund - A	422		158
JNL/American Funds Growth-Income Fund - A	—		—		JNL/Franklin Templeton Founding Strategy Fund - A	—		—
JNL/American Funds Growth Allocation Fund - A	—		—		JNL/Franklin Templeton Global Growth Fund - A	—		—

JNLNY Separate Account II

Notes to Financial Statements (continued)

December 31, 2016

Note 4 - Purchases and Sales of Investments (continued)



JNL Series Trust (continued)
	Cost of Purchases		Proceeds from Sales			Cost of Purchases		Proceeds from Sales
JNL/Franklin Templeton Global Multisector Bond Fund - A	$	—	$	—	JNL/Oppenheimer Global Growth Fund - A	$	8,564	$	846
JNL/Franklin Templeton Income Fund - A	186		222		JNL/PIMCO Real Return Fund - A	—		—
JNL/Franklin Templeton International Small Cap Growth Fund - A	—		—		JNL/PIMCO Total Return Bond Fund - A	159		1,188
JNL/Franklin Templeton Mutual Shares Fund - A	—		—		JNL/PPM America Floating Rate Income Fund - A	169		122
JNL/Goldman Sachs Core Plus Bond Fund - A	—		—		JNL/PPM America High Yield Bond Fund - A	4		196
JNL/Goldman Sachs Emerging Markets Debt Fund - A	—		—		JNL/PPM America Mid Cap Value Fund - A	—		—
JNL/Goldman Sachs Mid Cap Value Fund - A	—		—		JNL/PPM America Small Cap Value Fund - A	—		—
JNL/Goldman Sachs U.S. Equity Flex Fund - A	—		—		JNL/PPM America Total Return Fund - A	—		—
JNL/Invesco China-India Fund - A	—		—		JNL/PPM America Value Equity Fund - A	169		132
JNL/Invesco Global Real Estate Fund - A	2,232		976		JNL/Red Rocks Listed Private Equity Fund - A	—		—
JNL/Invesco International Growth Fund - A	446		177		JNL/S&P 4 Fund - A	182		302
JNL/Invesco Large Cap Growth Fund - A*	3,859		34,101		JNL/S&P Competitive Advantage Fund - A	895		305
JNL/Invesco Mid Cap Value Fund - A	979		447		JNL/S&P Dividend Income & Growth Fund - A	1,019		1,242
JNL/Invesco Small Cap Growth Fund - A	—		—		JNL/S&P Intrinsic Value Fund - A	—		—
JNL/JPMorgan MidCap Growth Fund - A	—		—		JNL/S&P Managed Aggressive Growth Fund - A	—		104
JNL/JPMorgan U.S. Government & Quality Bond Fund - A	—		—		JNL/S&P Managed Conservative Fund - A	—		—
JNL/Lazard Emerging Markets Fund - A	—		—		JNL/S&P Managed Growth Fund - A	177		155
JNL/MC 10 x 10 Fund - A	—		—		JNL/S&P Managed Moderate Fund - A	—		—
JNL/MC Bond Index Fund - A	—		—		JNL/S&P Managed Moderate Growth Fund - A	—		4,802
JNL/MC Emerging Markets Index Fund - A	—		—		JNL/S&P Mid 3 Fund - A	—		—
JNL/MC European 30 Fund - A	—		—		JNL/S&P Total Yield Fund - A	—		—
JNL/MC Index 5 Fund - A	—		—		JNL/T. Rowe Price Established Growth Fund - A	3,867		696
JNL/MC International Index Fund - A	—		—		JNL/T. Rowe Price Mid-Cap Growth Fund - A	476		984
JNL/MC Pacific Rim 30 Fund - A	—		—		JNL/T. Rowe Price Short-Term Bond Fund - A	—		—
JNL/MC S&P 400 MidCap Index Fund - A	318		4,466		JNL/T. Rowe Price Value Fund - A	5,181		1,618
JNL/MC S&P 500 Index Fund - A	698		1,266		JNL/WMC Balanced Fund - A	2,170		784
JNL/MC Small Cap Index Fund - A	414		7,036		JNL/WMC Money Market Fund - A	—		—
JNL/Morgan Stanley Mid Cap Growth Fund - A	—		—		JNL/WMC Value Fund - A	—		—
JNL/Neuberger Berman Strategic Income Fund - A	—		—

JNLNY Separate Account II

Notes to Financial Statements (continued)

December 31, 2016

Note 4 - Purchases and Sales of Investments (continued)



JNL Variable Fund LLC
	Cost of Purchases		Proceeds from Sales			Cost of Purchases		Proceeds from Sales
JNL/MC Communications Sector Fund - A	$	—	$	—	JNL/MC Nasdaq 100 Fund - A	$	—	$	—
JNL/MC Consumer Brands Sector Fund - A	—		—		JNL/MC Oil & Gas Sector Fund - A	—		—
JNL/MC Financial Sector Fund - A	—		—		JNL/MC S&P 24 Fund - A	—		—
JNL/MC Healthcare Sector Fund - A	—		—		JNL/MC S&P SMid 60 Fund - A	—		—
JNL/MC JNL 5 Fund - A	1,548		937		JNL/MC Technology Sector Fund - A	671		545

*No longer available as of April 25, 2016.

Note 5 - Subsequent Events

Management has evaluated subsequent events for the Separate Accounts through the date the financial statements are issued and the following events occurred:

On March 20, 2017, contract holders of JNL/Mellon Capital S&P 24 Fund Investment Division as shareowners in the acquired Fund approved the acquisition of JNL/Mellon Capital S&P 24 Fund into JNL/Mellon Capital JNL 5 Fund effective after close of business on April 24, 2017. Also effective after close of business on April 24, 2017, JNL/Morgan Stanley Mid Cap Growth Fund will be acquired by JNL/T.Rowe Price Mid-Cap Growth Fund.

No other events were noted that required adjustments to the financial statements or disclosure in the notes.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights
The following is a summary for each period in the five-year period ended December 31, 2016, of unit values, total returns and expense ratios and certain other Investment Division data. Unit values for Investment Divisions that do not have any assets at period end are calculated based on the net asset value of the underlying Fund less expenses charged directly to that Investment Division of the Separate Account.
	JNL/DoubleLine Total Return Fund (a)			JNL/PIMCO Credit Income Fund (a)			JNL Alt 65 Fund - A			JNL Disciplined Growth Fund - A			JNL Disciplined Moderate Fund - A			JNL Disciplined Moderate Growth Fund - A			JNL Institutional Alt 20 Fund - A			JNL Institutional Alt 35 Fund - A			JNL Institutional Alt 50 Fund - A			JNL Multi-Manager Mid Cap Fund - A(b)

Period ended December 31, 2016

Unit Value	$	10.844790		$	11.665779		$	17.061353		$	11.990810		$	13.225171		$	12.823384		$	16.747038		$	17.008936		$	16.827629		$	10.625489
¹ Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
¹ Units Outstanding (in thousands)	—			—			—			—			—			—			—			—			—			—
Total Return *	0.54		%	4.76		%	1.71		%	6.48		%	5.67		%	5.93		%	4.46		%	3.65		%	2.55		%	6.25%***
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	10.786915		$	11.135925		$	16.774708		$	11.261511		$	12.516075		$	12.105602		$	16.031620		$	16.410576		$	16.408584		n/a
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		n/a
Units Outstanding (in thousands)	—			—			—			—			—			—			—			—			—			n/a
Total Return *	-0.85%***			-0.97%***			-3.27		%	-4.08		%	-3.27		%	-3.46		%	-3.69		%	-3.74		%	-3.51		%	n/a
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	n/a
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a

Period ended December 31, 2014

Unit Value	n/a			n/a			$	17.341140		$	11.740909		$	12.939158		$	12.539065		$	16.645867		$	17.048366		$	17.005665		n/a
Net Assets (in thousands)	n/a			n/a			$	—		$	—		$	—		$	—		$	—		$	—		$	—		n/a
Units Outstanding (in thousands)	n/a			n/a			—			—			—			—			—			—			—			n/a
Total Return *	n/a			n/a			0.13		%	3.42		%	3.78		%	3.50		%	0.69		%	0.39		%	0.35		%	n/a
Investment Income Ratio **	n/a			n/a			0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	n/a
Ratio of Expenses ****	n/a			n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a

Period ended December 31, 2013

Unit Value	n/a			n/a			$	17.319290		$	11.352780		$	12.467767		$	12.115366		$	16.531511		$	16.982963		$	16.946891		n/a
Net Assets (in thousands)	n/a			n/a			$	—		$	—		$	—		$	—		$	—		$	—		$	—		n/a
Units Outstanding (in thousands)	n/a			n/a			—			—			—			—			—			—			—			n/a
Total Return *	n/a			n/a			7.87		%	22.21		%	15.37		%	20.85		%	12.18		%	10.78		%	8.71		%	n/a
Investment Income Ratio **	n/a			n/a			0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	n/a
Ratio of Expenses ****	n/a			n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a

Period ended December 31, 2012

Unit Value	n/a			n/a			$	16.056348		$	9.289391		$	10.807156		$	10.024948		$	14.736242		$	15.329996		$	15.588957		n/a
Net Assets (in thousands)	n/a			n/a			$	—		$	—		$	—		$	—		$	—		$	—		$	—		n/a
Units Outstanding (in thousands)	n/a			n/a			—			—			—			—			—			—			—			n/a
Total Return *	n/a			n/a			9.30		%	12.87		%	11.61		%	12.51		%	9.49		%	9.67		%	9.22		%	n/a
Investment Income Ratio **	n/a			n/a			0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	n/a
Ratio of Expenses ****	n/a			n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.
(a) The Fund was made available to the separate account effective September 28, 2015.
(b) Commencement of operations September 19, 2016.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL Multi-Manager Small Cap Growth Fund - A			JNL Multi-Manager Small Cap Value Fund - A			JNL/American Funds Balanced Allocation Fund - A (a)			JNL/American Funds Blue Chip Income and Growth Fund - A			JNL/American Funds Global Bond Fund - A			JNL/American Funds Global Small Capitalization Fund - A			JNL/American Funds Growth-Income Fund - A			JNL/American Funds Growth Allocation Fund - A (a)			JNL/American Funds International Fund - A			JNL/American Funds New World Fund - A

Period ended December 31, 2016

Unit Value	$	22.372782		$	17.010532		$	12.514176		$	18.349296		$	10.043590		$	12.693131		$	17.754382		$	13.205733		$	11.370310		$	10.647850
¹ Net Assets (in thousands)	$	3		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
¹ Units Outstanding (in thousands)	0			—			—			—			—			—			—			—			—			—
Total Return *	4.17		%	21.94		%	5.75		%	16.58		%	0.80		%	0.25		%	9.43		%	5.86		%	1.57		%	3.36		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	21.476719		$	13.949732		$	11.834218		$	15.739187		$	9.963483		$	12.661634		$	16.223729		$	12.474160		$	11.194851		$	10.301693
Net Assets (in thousands)	$	2		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	0			—			—			—			—			—			—			—			—			—
Total Return *	-6.10		%	-10.79		%	-1.63		%	-4.76		%	-5.66		%	-1.53		%	-0.49		%	-1.13		%	-6.26		%	-5.01		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2014

Unit Value	$	22.871188		$	15.636510		$	12.030786		$	16.525138		$	10.561616		$	12.858913		$	16.303350		$	12.616212		$	11.942370		$	10.844482
Net Assets (in thousands)	$	3		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	0			—			—			—			—			—			—			—			—			—
Total Return *	1.27		%	-1.34		%	2.71		%	13.28		%	-0.33		%	0.29		%	8.55		%	2.52		%	-4.48		%	-9.58		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2013

Unit Value	$	22.583424		$	15.849463		$	11.713053		$	14.588163		$	10.596818		$	12.821842		$	15.019730		$	12.306081		$	12.502678		$	11.993378
Net Assets (in thousands)	$	2		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	0			—			—			—			—			—			—			—			—			—
Total Return *	28.52		%	32.38		%	13.54		%	30.46		%	-4.38		%	25.99		%	30.95		%	19.06		%	19.30		%	9.23		%
Investment Income Ratio **	0.09		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2012

Unit Value	$	17.572091		$	11.972394		$	10.315896		$	11.182219		$	11.082072		$	10.176489		$	11.469419		$	10.335689		$	10.479881		$	10.979600
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	1		$	—		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			—			—			—			—			—			—			—			—
Total Return *	12.13		%	15.87		%	3.16%***			11.74		%	4.22		%	16.14		%	15.18		%	3.36%***			15.66		%	15.62		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	1.83		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.
(a) Commencement of operations April 30, 2012.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/AQR Managed Futures Strategy Fund - A (a)			JNL/BlackRock Global Allocation Fund - A			JNL/BlackRock Large Cap Select Growth Fund - A			JNL/BlackRock Natural Resources Fund - A			JNL/Brookfield Global Infrastructure and MLP Fund - A			JNL/Capital Guardian Global Balanced Fund - A			JNL/Capital Guardian Global Diversified Research Fund - A (c)			JNL/Causeway International Value Select Fund - A			JNL/Crescent High Income Fund - A (b)			JNL/DFA U.S. Core Equity Fund - A

Period ended December 31, 2016

Unit Value	$	10.064708		$	11.865892		$	10.477144		$	8.698163		$	13.848290		$	14.922818		$	15.866332		$	14.550959		$	10.442880		$	17.877473
¹ Net Assets (in thousands)	$	—		$	6		$	35		$	—		$	—		$	—		$	—		$	54		$	—		$	48
¹ Units Outstanding (in thousands)	—			1			3			—			—			—			—			4			—			3
Total Return *	-9.92		%	2.42		%	-1.04		%	24.65		%	10.91		%	4.16		%	4.18		%	-1.48		%	4.43%***			12.32		%
Investment Income Ratio **	0.00		%	0.39		%	0.00		%	0.00		%	0.00		%	0.00		%	0.83		%	1.21		%	0.00		%	1.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	11.173240		$	11.585485		$	10.587695		$	6.978330		$	12.485883		$	14.326447		$	15.229832		$	14.769285		n/a			$	15.915924
Net Assets (in thousands)	$	—		$	6		$	—		$	—		$	—		$	—		$	4		$	52		n/a			$	43
Units Outstanding (in thousands)	—			1			—			—			—			—			0			4			n/a			3
Total Return *	-7.24%***			-2.81		%	4.65		%	-24.88		%	-19.76		%	-2.99		%	1.14		%	-4.99		%	n/a			-3.56		%
Investment Income Ratio **	0.00		%	1.96		%	0.00		%	0.00		%	0.00		%	0.00		%	0.84		%	3.22		%	n/a			0.84		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a			1.50		%

Period ended December 31, 2014

Unit Value	n/a			$	11.920695		$	10.117134		$	9.289757		$	15.560812		$	14.767392		$	15.057528		$	15.544623		n/a			$	16.502596
Net Assets (in thousands)	n/a			$	6		$	—		$	—		$	—		$	—		$	4		$	52		n/a			$	44
Units Outstanding (in thousands)	n/a			1			—			—			—			—			0			3			n/a			3
Total Return *	n/a			0.33		%	7.26		%	-15.52		%	5.75		%	-0.95		%	0.83		%	-11.87		%	n/a			8.19		%
Investment Income Ratio **	n/a			0.69		%	0.00		%	0.00		%	0.00		%	0.00		%	0.77		%	1.96		%	n/a			0.53		%
Ratio of Expenses ****	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a			1.50		%

Period ended December 31, 2013

Unit Value	n/a			$	11.881116		$	9.431944		$	10.996928		$	14.714849		$	14.909390		$	14.934266		$	17.637843		n/a			$	15.253649
Net Assets (in thousands)	n/a			$	6		$	—		$	—		$	—		$	—		$	4		$	55		n/a			$	41
Units Outstanding (in thousands)	n/a			0			—			—			—			—			0			3			n/a			3
Total Return *	n/a			12.61		%	36.92		%	7.88		%	21.60		%	13.83		%	21.42		%	19.67		%	n/a			33.15		%
Investment Income Ratio **	n/a			0.92		%	0.00		%	0.00		%	0.00		%	0.00		%	2.23		%	3.40		%	n/a			0.83		%
Ratio of Expenses ****	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a			1.50		%

Period ended December 31, 2012

Unit Value	n/a			$	10.550999		$	6.888593		$	10.193794		$	12.101390		$	13.098417		$	12.299738		$	14.739282		n/a			$	11.455604
Net Assets (in thousands)	n/a			$	2		$	—		$	—		$	—		$	—		$	1		$	44		n/a			$	31
Units Outstanding (in thousands)	n/a			0			—			—			—			—			0			3			n/a			3
Total Return *	n/a			7.96		%	8.96		%	-0.72		%	16.90		%	11.35		%	15.23		%	15.41		%	n/a			12.00		%
Investment Income Ratio **	n/a			0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	1.22		%	4.74		%	n/a			0.87		%
Ratio of Expenses ****	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a			1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.
(a) The Fund was made available to the separate account effective April 27, 2015.
(b) Commencement of operations April 25, 2016.
(c) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements. Unit values disclosed are as of April 22, 2016.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/Eastspring Investments Asia ex-Japan Fund - A(a)			JNL/FPA + DoubleLine Flexible Allocation Fund - A			JNL/Franklin Templeton Founding Strategy Fund - A			JNL/Franklin Templeton Global Growth Fund - A			JNL/Franklin Templeton Global Multisector Bond Fund - A			JNL/Franklin Templeton Income Fund - A			JNL/Franklin Templeton International Small Cap Growth Fund - A			JNL/Franklin Templeton Mutual Shares Fund - A			JNL/Goldman Sachs Core Plus Bond Fund - A			JNL/Goldman Sachs Emerging Markets Debt Fund - A

Period ended December 31, 2016

Unit Value	$	7.965915		$	12.428006		$	12.350893		$	10.883009		$	11.276005		$	14.340630		$	9.792722		$	12.977002		$	15.723569		$	11.701738
¹ Net Assets (in thousands)	$	—		$	5		$	—		$	—		$	—		$	4		$	—		$	—		$	—		$	—
¹ Units Outstanding (in thousands)	—			0			—			—			—			0			—			—			—			—
Total Return *	3.22		%	2.13		%	11.75		%	8.94		%	2.27		%	12.42		%	-2.64		%	13.96		%	0.58		%	7.43		%
Investment Income Ratio **	0.00		%	1.14		%	0.00		%	0.00		%	0.00		%	4.68		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	7.717726		$	12.169100		$	11.052662		$	9.989764		$	11.025219		$	12.755805		$	10.058155		$	11.387089		$	15.632913		$	10.892216
Net Assets (in thousands)	$	—		$	5		$	—		$	—		$	—		$	4		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	—			0			—			—			—			0			—			—			—			—
Total Return *	-17.90		%	-10.50		%	-7.58		%	-7.82		%	-5.57		%	-8.74		%	2.26		%	-6.08		%	-1.11		%	-13.64		%
Investment Income Ratio **	0.00		%	0.76		%	0.00		%	0.00		%	0.00		%	4.22		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2014

Unit Value	$	9.400694		$	13.597118		$	11.959728		$	10.837420		$	11.676131		$	13.977636		$	9.835657		$	12.124810		$	15.807910		$	12.612280
Net Assets (in thousands)	$	—		$	5		$	—		$	—		$	—		$	4		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	—			0			—			—			—			0			—			—			—			—
Total Return *	4.04%***			-5.47		%	1.14		%	-3.82		%	-1.93		%	1.65		%	-10.77		%	5.70		%	3.83		%	-6.36		%
Investment Income Ratio **	0.00		%	1.11		%	0.00		%	0.00		%	0.00		%	3.05		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2013

Unit Value	n/a			$	14.383402		$	11.824943		$	11.267615		$	11.906178		$	13.751226		$	11.022924		$	11.470898		$	15.225338		$	13.468389
Net Assets (in thousands)	n/a			$	5		$	—		$	—		$	—		$	4		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	n/a			0			—			—			—			0			—			—			—			—
Total Return *	n/a			21.80		%	22.12		%	28.41		%	1.98		%	12.39		%	30.44		%	26.38		%	-2.53		%	-9.21		%
Investment Income Ratio **	n/a			2.24		%	0.00		%	0.00		%	0.00		%	4.04		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2012

Unit Value	n/a			$	11.808592		$	9.683001		$	8.774737		$	11.674500		$	12.235748		$	8.450560		$	9.076395		$	15.619740		$	14.835030
Net Assets (in thousands)	n/a			$	1		$	—		$	—		$	—		$	3		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	n/a			0			—			—			—			0			—			—			—			—
Total Return *	n/a			15.52		%	14.23		%	20.23		%	16.13		%	10.52		%	25.36		%	11.97		%	6.15		%	18.25		%
Investment Income Ratio **	n/a			0.10		%	0.00		%	0.00		%	0.00		%	4.47		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.
(a) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements. Unit values disclosed are as of April 22, 2016.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/Goldman Sachs Mid Cap Value Fund - A			JNL/Goldman Sachs U.S. Equity Flex Fund - A			JNL/Invesco China-India Fund - A			JNL/Invesco Global Real Estate Fund - A			JNL/Invesco International Growth Fund - A			JNL/Invesco Large Cap Growth Fund - A (a)			JNL/Invesco Mid Cap Value Fund - A			JNL/Invesco Small Cap Growth Fund - A			JNL/JPMorgan MidCap Growth Fund - A			JNL/JPMorgan U.S. Government & Quality Bond Fund - A

Period ended December 31, 2016

Unit Value	$	18.625987		$	13.699164		$	7.695847		$	13.057127		$	12.847255		$	20.101089		$	24.978023		$	24.648399		$	22.178361		$	13.590550
¹ Net Assets (in thousands)	$	—		$	—		$	—		$	14		$	12		$	—		$	33		$	—		$	—		$	—
¹ Units Outstanding (in thousands)	—			—			—			1			1			—			1			—			—			—
Total Return *	11.90		%	6.33		%	-4.83		%	0.90		%	-2.66		%	-5.10		%	13.66		%	9.85		%	-0.98		%	-0.06		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	1.93		%	1.70		%	0.00		%	0.43		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	16.645563		$	12.883758		$	8.086746		$	12.940342		$	13.198353		$	21.180898		$	21.976784		$	22.437826		$	22.396960		$	13.598714
Net Assets (in thousands)	$	—		$	—		$	—		$	13		$	12		$	36		$	29		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			—			1			1			2			1			—			—			—
Total Return *	-10.31		%	-3.19		%	-6.45		%	-2.44		%	-3.49		%	3.44		%	-10.43		%	-3.26		%	1.48		%	-1.04		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	2.77		%	1.73		%	0.00		%	0.33		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2014

Unit Value	$	18.559635		$	13.307999		$	8.644061		$	13.263734		$	13.675019		$	20.476381		$	24.536530		$	23.193081		$	22.070982		$	13.741471
Net Assets (in thousands)	$	—		$	—		$	—		$	13		$	12		$	35		$	33		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			—			1			1			2			1			—			—			—
Total Return *	11.45		%	12.23		%	13.45%***			13.32		%	-1.26		%	6.72		%	7.62		%	6.38		%	9.54		%	3.83		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	1.16		%	1.02		%	0.05		%	0.21		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2013

Unit Value	$	16.652876		$	11.857861		n/a			$	11.705082		$	13.848973		$	19.187066		$	22.798266		$	21.801631		$	20.149072		$	13.234450
Net Assets (in thousands)	$	—		$	—		n/a			$	12		$	13		$	32		$	30		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			n/a			1			1			2			1			—			—			—
Total Return *	30.76		%	32.20		%	n/a			1.23		%	17.21		%	37.50		%	28.95		%	37.61		%	39.92		%	-4.95		%
Investment Income Ratio **	0.00		%	0.00		%	n/a			3.94		%	1.03		%	0.40		%	0.18		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2012

Unit Value	$	12.735851		$	8.969611		n/a			$	11.562663		$	11.815760		$	13.954068		$	17.679653		$	15.843319		$	14.400562		$	13.923723
Net Assets (in thousands)	$	—		$	—		n/a			$	7		$	11		$	24		$	24		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			n/a			1			1			2			1			—			—			—
Total Return *	16.25		%	17.81		%	n/a			26.40		%	14.03		%	10.81		%	6.14		%	15.92		%	14.51		%	2.10		%
Investment Income Ratio **	0.00		%	0.00		%	n/a			0.67		%	1.67		%	0.00		%	0.26		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.
(a) The period is from January 1, 2016 through April 25, 2016, the date the Fund was acquired. The respective acquisition can be found on page 46 of the Notes to Financial Statements. Unit values disclosed are as of April 22, 2016.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/Lazard Emerging Markets Fund - A			JNL/MC 10 x 10 Fund - A			JNL/MC Bond Index Fund - A			JNL/MC Emerging Markets Index Fund - A			JNL/MC European 30 Fund - A			JNL/MC Index 5 Fund - A			JNL/MC International Index Fund - A			JNL/MC Pacific Rim 30 Fund - A			JNL/MC S&P 400 MidCap Index Fund - A			JNL/MC S&P 500 Index Fund - A

Period ended December 31, 2016

Unit Value	$	11.792401		$	13.640617		$	13.002981		$	8.489909		$	13.422941		$	14.094842		$	14.253573		$	17.487015		$	26.303244		$	20.219888
¹ Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	50		$	47
¹ Units Outstanding (in thousands)	—			—			—			—			—			—			—			—			2			2
Total Return *	17.51		%	10.39		%	0.40		%	8.46		%	-3.29		%	10.25		%	-0.69		%	7.98		%	18.34		%	9.71		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.17		%	0.12		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	10.035299		$	12.356859		$	12.950583		$	7.828031		$	13.880049		$	12.784030		$	14.353215		$	16.195214		$	22.226870		$	18.429618
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	46		$	43
Units Outstanding (in thousands)	—			—			—			—			—			—			—			—			2			2
Total Return *	-19.90		%	-3.72		%	-1.61		%	-16.55		%	-3.41		%	-2.93		%	-2.56		%	3.41		%	-4.13		%	-0.63		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.87		%	1.35		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2014

Unit Value	$	12.528352		$	12.834288		$	13.162615		$	9.381062		$	14.369625		$	13.170534		$	14.730084		$	15.661879		$	23.185530		$	18.546210
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	47		$	44
Units Outstanding (in thousands)	—			—			—			—			—			—			—			—			2			2
Total Return *	-6.67		%	6.65		%	4.04		%	-5.12		%	-4.84		%	3.73		%	-7.48		%	1.67		%	7.61		%	11.39		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.91		%	1.15		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2013

Unit Value	$	13.423359		$	12.034428		$	12.651180		$	9.887430		$	15.100243		$	12.696518		$	15.921512		$	15.403871		$	21.546667		$	16.650349
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	44		$	41
Units Outstanding (in thousands)	—			—			—			—			—			—			—			—			2			2
Total Return *	-2.57		%	25.80		%	-4.18		%	-5.58		%	28.66		%	21.90		%	19.62		%	10.98		%	31.01		%	29.68		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.76		%	1.24		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2012

Unit Value	$	13.777175		$	9.566343		$	13.202759		$	10.472224		$	11.736103		$	10.415464		$	13.309942		$	13.879865		$	16.446070		$	12.839646
Net Assets (in thousands)	$	—		$	—		$	9		$	—		$	—		$	—		$	—		$	—		$	34		$	31
Units Outstanding (in thousands)	—			—			1			—			—			—			—			—			2			2
Total Return *	20.38		%	14.23		%	2.07		%	15.80		%	7.02		%	12.25		%	16.26		%	10.35		%	15.49		%	13.65		%
Investment Income Ratio **	0.00		%	0.00		%	2.19		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	1.03		%	1.54		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/MC Small Cap Index Fund - A			JNL/Morgan Stanley Mid Cap Growth Fund - A (a)			JNL/Neuberger Berman Strategic Income Fund - A (a)			JNL/Oppenheimer Global Growth Fund - A			JNL/PIMCO Real Return Fund - A			JNL/PIMCO Total Return Bond Fund - A			JNL/PPM America Floating Rate Income Fund - A			JNL/PPM America High Yield Bond Fund - A			JNL/PPM America Mid Cap Value Fund - A			JNL/PPM America Small Cap Value Fund - A

Period ended December 31, 2016

Unit Value	$	23.350947		$	10.792525		$	10.772560		$	20.979622		$	13.456253		$	17.001871		$	11.263523		$	17.881374		$	20.578534		$	20.932090
¹ Net Assets (in thousands)	$	81		$	—		$	—		$	56		$	—		$	32		$	3		$	3		$	—		$	—
¹ Units Outstanding (in thousands)	3			—			—			3			—			2			0			0			—			—
Total Return *	24.00		%	-9.38		%	4.34		%	-1.39		%	3.61		%	1.20		%	7.79		%	15.28		%	25.52		%	28.61		%
Investment Income Ratio **	0.48		%	0.00		%	0.00		%	0.62		%	0.00		%	0.39		%	4.53		%	0.16		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	18.831503		$	11.909126		$	10.324366		$	21.274351		$	12.987699		$	16.800474		$	10.449953		$	15.510679		$	16.394634		$	16.275017
Net Assets (in thousands)	$	71		$	—		$	—		$	50		$	—		$	33		$	2		$	2		$	—		$	—
Units Outstanding (in thousands)	4			—			—			2			—			2			0			0			—			—
Total Return *	-5.98		%	-5.74		%	-2.71		%	2.25		%	-4.55		%	-1.09		%	-2.75		%	-8.28		%	-9.43		%	-4.93		%
Investment Income Ratio **	0.60		%	0.00		%	0.00		%	0.81		%	0.00		%	2.88		%	3.62		%	6.45		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2014

Unit Value	$	20.029210		$	12.634916		$	10.611671		$	20.805260		$	13.606445		$	16.985518		$	10.745239		$	16.910490		$	18.101912		$	17.118632
Net Assets (in thousands)	$	75		$	—		$	—		$	49		$	—		$	34		$	2		$	2		$	—		$	—
Units Outstanding (in thousands)	4			—			—			2			—			2			0			0			—			—
Total Return *	3.09		%	-1.88		%	3.33		%	0.39		%	1.75		%	2.43		%	-1.27		%	-1.35		%	9.77%***			5.80%***
Investment Income Ratio **	1.05		%	0.00		%	0.00		%	0.57		%	0.00		%	3.39		%	2.36		%	5.99		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2013

Unit Value	$	19.428244		$	12.876946		$	10.269261		$	20.724585		$	13.371818		$	16.582983		$	10.882925		$	17.141680		n/a			n/a
Net Assets (in thousands)	$	70		$	—		$	—		$	48		$	—		$	34		$	2		$	2		n/a			n/a
Units Outstanding (in thousands)	4			—			—			2			—			2			0			0			n/a			n/a
Total Return *	36.37		%	35.68		%	-1.59		%	24.36		%	-10.48		%	-3.53		%	2.77		%	6.59		%	n/a			n/a
Investment Income Ratio **	0.96		%	0.00		%	0.00		%	0.94		%	0.00		%	1.15		%	0.71		%	4.35		%	n/a			n/a
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a			n/a

Period ended December 31, 2012

Unit Value	$	14.246245		$	9.490936		$	10.434701		$	16.664990		$	14.937227		$	17.190557		$	10.589766		$	16.082137		n/a			n/a
Net Assets (in thousands)	$	53		$	—		$	—		$	38		$	11		$	40		$	—		$	—		n/a			n/a
Units Outstanding (in thousands)	4			—			—			2			1			2			—			—			n/a			n/a
Total Return *	14.16		%	-5.09%***			4.35%***			18.74		%	6.81		%	6.48		%	6.21		%	15.01		%	n/a			n/a
Investment Income Ratio **	1.66		%	0.00		%	0.00		%	1.04		%	1.84		%	2.07		%	0.00		%	0.00		%	n/a			n/a
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a			n/a


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.
(a) Commencement of operations April 30, 2012.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/PPM America Total Return Fund - A (a) (b)			JNL/PPM America Value Equity Fund - A			JNL/Red Rocks Listed Private Equity Fund - A			JNL/S&P 4 Fund - A			JNL/S&P Competitive Advantage Fund - A			JNL/S&P Dividend Income & Growth Fund - A			JNL/S&P Intrinsic Value Fund - A			JNL/S&P Managed Aggressive Growth Fund - A			JNL/S&P Managed Conservative Fund - A			JNL/S&P Managed Growth Fund - A

Period ended December 31, 2016

Unit Value	$	17.747857		$	16.031491		$	15.287016		$	20.255056		$	21.545276		$	20.619193		$	19.463628		$	18.514691		$	15.727504		$	17.996460
¹ Net Assets (in thousands)	$	—		$	10		$	—		$	4		$	5		$	17		$	—		$	5		$	—		$	5
¹ Units Outstanding (in thousands)	—			1			—			0			0			1			—			0			—			0
Total Return *	4.11		%	19.81		%	6.61		%	8.65		%	4.12		%	15.98		%	3.71		%	4.42		%	3.46		%	4.34		%
Investment Income Ratio **	0.00		%	1.98		%	0.00		%	0.00		%	1.05		%	2.28		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	17.047079		$	13.380421		$	14.339201		$	18.642958		$	20.691954		$	17.777549		$	18.767627		$	17.730540		$	15.201914		$	17.248315
Net Assets (in thousands)	$	—		$	8		$	—		$	3		$	4		$	16		$	—		$	5		$	—		$	4
Units Outstanding (in thousands)	—			1			—			0			0			1			—			0			—			0
Total Return *	-4.45%***			-10.06		%	-1.89		%	-6.46		%	-0.32		%	-0.81		%	-15.12		%	-1.72		%	-3.03		%	-1.69		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	17.57		%	0.70		%	2.46		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2014

Unit Value	n/a			$	14.877068		$	14.615962		$	19.929991		$	20.757646		$	17.923195		$	22.111707		$	18.041275		$	15.676820		$	17.544299
Net Assets (in thousands)	n/a			$	9		$	—		$	—		$	5		$	17		$	—		$	5		$	—		$	5
Units Outstanding (in thousands)	n/a			1			—			—			0			1			—			0			—			0
Total Return *	n/a			10.82		%	-0.88		%	12.70		%	8.42		%	12.00		%	16.28		%	4.99		%	0.81%***			4.06		%
Investment Income Ratio **	n/a			4.80		%	0.00		%	0.00		%	0.28		%	1.30		%	0.00		%	0.46		%	0.00		%	0.51		%
Ratio of Expenses ****	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2013

Unit Value	n/a			$	13.424472		$	14.745677		$	17.684467		$	19.145743		$	16.002256		$	19.015789		$	17.183734		n/a			$	16.860175
Net Assets (in thousands)	n/a			$	8		$	—		$	—		$	4		$	16		$	—		$	5		n/a			$	4
Units Outstanding (in thousands)	n/a			1			—			—			0			1			—			0			n/a			0
Total Return *	n/a			38.14		%	39.55		%	41.49		%	40.85		%	28.83		%	47.71		%	23.91		%	n/a			20.77		%
Investment Income Ratio **	n/a			1.28		%	0.00		%	0.00		%	1.16		%	1.63		%	0.00		%	0.67		%	n/a			1.61		%
Ratio of Expenses ****	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a			1.50		%

Period ended December 31, 2012

Unit Value	n/a			$	9.718013		$	10.566295		$	12.498395		$	13.592609		$	12.420775		$	12.873977		$	13.868393		n/a			$	13.960666
Net Assets (in thousands)	n/a			$	6		$	—		$	—		$	1		$	10		$	1		$	4		n/a			$	1
Units Outstanding (in thousands)	n/a			1			—			—			0			1			0			0			n/a			0
Total Return *	n/a			13.93		%	28.32		%	14.50		%	14.88		%	11.10		%	12.38		%	14.11		%	n/a			13.57		%
Investment Income Ratio **	n/a			1.41		%	0.00		%	0.00		%	0.53		%	2.45		%	0.98		%	0.05		%	n/a			1.19		%
Ratio of Expenses ****	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	n/a			1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.
(a) The Fund was made available to the separate account effective April 27, 2015.
(b) On April 25, 2016, JNL/PPM America Total Return Fund was created in the JNL Series Trust to facilitate an acquisition of a fund with the same name which was a series in JNL Investors Series Trust. Although the fund in JNL Investors Series Trust was
legally dissolved, it is considered the acquiring fund for financial reporting purposes, and as a result, the Statement of Financial Highlights includes activity of the acquiring fund formerly in JNL Investors Series Trust for the period prior to the merger.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/S&P Managed Moderate Fund - A			JNL/S&P Managed Moderate Growth Fund - A			JNL/S&P Mid 3 Fund - A (a)			JNL/S&P Total Yield Fund - A			JNL/T. Rowe Price Established Growth Fund - A			JNL/T. Rowe Price Mid-Cap Growth Fund - A			JNL/T. Rowe Price Short-Term Bond Fund - A			JNL/T. Rowe Price Value Fund - A			JNL/WMC Balanced Fund - A			JNL/WMC Money Market Fund - A

Period ended December 31, 2016

Unit Value	$	17.621873		$	16.990273		$	11.552377		$	18.730895		$	23.110380		$	31.607303		$	10.190856		$	22.631767		$	20.118266		$	9.549855
¹ Net Assets (in thousands)	$	—		$	79		$	—		$	—		$	50		$	61		$	—		$	51		$	55		$	—
¹ Units Outstanding (in thousands)	—			5			—			—			2			2			—			2			3			—
Total Return *	3.98		%	4.02		%	16.15		%	10.95		%	-0.08		%	4.50		%	-0.08		%	9.20		%	9.17		%	-1.48		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	1.90		%	1.31		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	16.946694		$	16.333839		$	9.946222		$	16.882496		$	23.128820		$	30.245604		$	10.198573		$	20.725401		$	18.428084		$	9.693603
Net Assets (in thousands)	$	—		$	80		$	—		$	—		$	46		$	58		$	—		$	46		$	50		$	—
Units Outstanding (in thousands)	—			5			—			—			2			2			—			2			3			—
Total Return *	-2.60		%	-2.24		%	-11.94		%	-9.10		%	9.05		%	4.88		%	-1.17		%	-3.31		%	-2.40		%	-1.49		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.80		%	1.19		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2014

Unit Value	$	17.399045		$	16.708066		$	11.294769		$	18.572199		$	21.209003		$	28.837678		$	10.319696		$	21.433870		$	18.881209		$	9.839991
Net Assets (in thousands)	$	—		$	85		$	—		$	—		$	47		$	55		$	—		$	47		$	52		$	—
Units Outstanding (in thousands)	—			5			—			—			2			2			—			2			3			—
Total Return *	2.22%***			2.95		%	12.95%***			14.17		%	7.09		%	11.15		%	-1.07		%	11.56		%	8.23		%	-1.49		%
Investment Income Ratio **	0.00		%	0.23		%	0.00		%	0.00		%	0.00		%	0.14		%	0.00		%	0.76		%	1.22		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2013

Unit Value	n/a			$	16.229395		n/a			$	16.267704		$	19.804828		$	25.945311		$	10.431239		$	19.213200		$	17.445744		$	9.988537
Net Assets (in thousands)	n/a			$	86		n/a			$	—		$	44		$	50		$	—		$	44		$	48		$	—
Units Outstanding (in thousands)	n/a			5			n/a			—			2			2			—			2			3			—
Total Return *	n/a			14.12		%	n/a			49.42		%	36.60		%	34.47		%	-1.40		%	35.09		%	17.55		%	-1.45		%
Investment Income Ratio **	n/a			0.45		%	n/a			0.00		%	0.07		%	0.00		%	0.00		%	1.18		%	1.33		%	0.00		%
Ratio of Expenses ****	n/a			1.50		%	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2012

Unit Value	n/a			$	14.221168		n/a			$	10.887008		$	14.498324		$	19.294418		$	10.578915		$	14.222152		$	14.840833		$	10.135831
Net Assets (in thousands)	n/a			$	91		n/a			$	—		$	34		$	35		$	5		$	34		$	43		$	1
Units Outstanding (in thousands)	n/a			6			n/a			—			2			2			0			2			3			0
Total Return *	n/a			12.04		%	n/a			20.01		%	17.06		%	11.89		%	0.91		%	17.55		%	8.45		%	-1.41		%
Investment Income Ratio **	n/a			0.94		%	n/a			0.00		%	0.00		%	0.20		%	0.91		%	1.28		%	1.22		%	0.00		%
Ratio of Expenses ****	n/a			1.50		%	n/a			1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.
(a) Commencement of operations April 28, 2014.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/WMC Value Fund - A			JNL/MC Communications Sector Fund - A			JNL/MC Consumer Brands Sector Fund - A			JNL/MC Financial Sector Fund - A			JNL/MC Healthcare Sector Fund - A			JNL/MC JNL 5 Fund - A			JNL/MC Nasdaq 100 Fund - A			JNL/MC Oil & Gas Sector Fund - A			JNL/MC S&P 24 Fund - A			JNL/MC S&P SMid 60 Fund - A

Period ended December 31, 2016

Unit Value	$	19.090798		$	26.114048		$	24.591300		$	13.516652		$	24.534940		$	17.513792		$	18.503728		$	27.152094		$	13.043047		$	19.977255
¹ Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	65		$	—		$	—		$	—		$	—
¹ Units Outstanding (in thousands)	—			—			—			—			—			4			—			—			—			—
Total Return *	11.74		%	21.72		%	4.58		%	22.26		%	-5.25		%	10.51		%	6.33		%	25.33		%	1.27		%	32.40		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	2.56		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2015

Unit Value	$	17.084937		$	21.454310		$	23.514372		$	11.055835		$	25.894323		$	15.847656		$	17.401576		$	21.665300		$	12.878991		$	15.088169
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	59		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			—			—			—			4			—			—			—			—
Total Return *	-4.56		%	1.20		%	4.32		%	-2.59		%	4.99		%	-4.46		%	-0.08		%	-24.40		%	-9.66		%	-6.47		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	2.66		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2014

Unit Value	$	17.901874		$	21.200126		$	22.540804		$	11.350218		$	24.663856		$	16.587390		$	17.414858		$	28.657995		$	14.256105		$	16.131502
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	62		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			—			—			—			4			—			—			—			—
Total Return *	9.67		%	3.95		%	9.16		%	11.38		%	23.27		%	9.67		%	16.67		%	-11.69		%	3.61		%	1.96		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	2.16		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2013

Unit Value	$	16.322981		$	20.393922		$	20.648802		$	10.190890		$	20.007403		$	15.125339		$	14.926180		$	32.451683		$	13.758829		$	15.821544
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	56		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			—			—			—			4			—			—			—			—
Total Return *	29.10		%	19.22		%	39.01		%	31.36		%	38.79		%	29.72		%	39.00		%	23.48		%	38.41		%	34.85		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	2.71		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%

Period ended December 31, 2012

Unit Value	$	12.644067		$	17.106494		$	14.854508		$	7.757856		$	14.415289		$	11.659749		$	10.738315		$	26.281194		$	9.940390		$	11.732311
Net Assets (in thousands)	$	—		$	—		$	—		$	—		$	—		$	43		$	—		$	—		$	—		$	—
Units Outstanding (in thousands)	—			—			—			—			—			4			—			—			—			—
Total Return *	14.61		%	18.54		%	21.63		%	24.24		%	16.78		%	16.28		%	17.87		%	2.79		%	9.86		%	12.15		%
Investment Income Ratio **	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	3.05		%	0.00		%	0.00		%	0.00		%	0.00		%
Ratio of Expenses ****	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%	1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.

JNLNY Separate Account II

Notes to Financial Statements (continued)



Note 6 - Financial Highlights (continued)
	JNL/MC Technology Sector Fund - A

Period ended December 31, 2016

Unit Value	$	22.362319
¹ Net Assets (in thousands)	$	10
¹ Units Outstanding (in thousands)	0
Total Return *	11.61		%
Investment Income Ratio **	0.68		%
Ratio of Expenses ****	1.50		%

Period ended December 31, 2015

Unit Value	$	20.035351
Net Assets (in thousands)	$	9
Units Outstanding (in thousands)	0
Total Return *	2.85		%
Investment Income Ratio **	0.58		%
Ratio of Expenses ****	1.50		%

Period ended December 31, 2014

Unit Value	$	19.479424
Net Assets (in thousands)	$	9
Units Outstanding (in thousands)	0
Total Return *	18.82		%
Investment Income Ratio **	0.57		%
Ratio of Expenses ****	1.50		%

Period ended December 31, 2013

Unit Value	$	16.394381
Net Assets (in thousands)	$	9
Units Outstanding (in thousands)	1
Total Return *	24.30		%
Investment Income Ratio **	0.69		%
Ratio of Expenses ****	1.50		%

Period ended December 31, 2012

Unit Value	$	13.188850
Net Assets (in thousands)	$	7
Units Outstanding (in thousands)	1
Total Return *	9.57		%
Investment Income Ratio **	0.26		%
Ratio of Expenses ****	1.50		%


* Total return for period indicated, includes changes in value of the underlying Fund, and reflects deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units, inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
** These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets of the Investment Division. In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
*** Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
**** Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction in unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
¹ Some investments have a net asset and ending unit balance of less than one thousand, due to rounding it is displayed as a zero.

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders

Jackson National Life Insurance Company of New York and

Contract Owners of JNLNY Separate Account II:

We have audited the accompanying statement of assets and liabilities of each Investment Division within JNLNY Separate Account II (the Company), as of December 31, 2016, and the related statement of operations for the year or period then ended, the statements of changes in net assets for each year of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended. These financial statements and financial highlights are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2016, by correspondence with the transfer agent of the underlying mutual funds and other appropriate auditing procedures. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each Investment Division within the Company as of December 31, 2016, the results of its operations for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

/s/KPMG LLP

Chicago, Illinois

March 21, 2017

KPMG LLP is a Delaware limited liability partnership and the U.S. member

firm of the KPMG network of independent member firms affiliated with

KPMG International Cooperative (“KPMG International”), a Swiss entity.

APPENDIX B



Jackson National Life Insurance Company of New York

Index to Financial Statements
December 31, 2016 and 2015


Report of Independent Registered Public Accounting Firm	1

Balance Sheets	2

Income Statements	3

Statements of Comprehensive Income	4

Statements of Equity	5

Statements of Cash Flows	6

Notes to Financial Statements	7



	KPMG LLP Suite 500 191 West Nationwide Blvd. Columbus, OH 43215-2568

Report of Independent Registered Public Accounting Firm

The Audit Committee of the Board of Directors

Jackson National Life Insurance Company of New York:

We have audited the accompanying balance sheets of Jackson National Life Insurance Company of New York (the Company) as of December 31, 2016 and 2015, and the related income statements, statements of comprehensive income, statements of equity, and statements of cash flows for each of the years in the three‑year period ended December 31, 2016. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2016 and 2015, and the results of its operations and its cash flows for each of the years in the three‑year period ended December 31, 2016, in conformity with U.S. generally accepted accounting principles.

/s/KPMG LLP

Columbus, Ohio

March 21, 2017

KPMG LLP is a Delaware limited liability partnership,

the U.S. member firm of KPMG International Cooperative

(“KPMG International”), a Swiss entity.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Balance Sheets

(In thousands, except per share information)





				December 31,
Assets				2016		2015
	Investments:
		Securities available for sale, at fair value:
			Fixed maturities (amortized cost: 2016 $1,880,363; 2015 $1,792,863)	$	1,914,604	$	1,835,373
		Trading securities, at fair value		144		532
		Policy loans		299		282
			Total investments	1,915,047		1,836,187
	Cash and cash equivalents			247,616		119,596
	Accrued investment income			16,064		16,636
	Deferred acquisition costs			52,578		359,229
	Deferred sales inducements			2,524		5,486
	Reinsurance recoverable, net			1,291,394		139,299
	Income taxes receivable from Parent			71,962		70,499
	Receivable from Parent			—		562
	Deferred income taxes, net			85,358		—
	Separate account assets			9,638,780		8,515,156
		Total assets		$	13,321,323	$	11,062,650

Liabilities and Equity
	Liabilities
		Reserves for future policy benefits and claims payable		$	193,182	$	185,837
		Other contract holder funds		1,818,225		1,669,744
		Deferred income taxes, net		—		24,111
		Payable to Parent		905,427		—
		Deferred gain on reinsurance		243,115		282
		Other liabilities		58,887		52,321
		Separate account liabilities		9,638,780		8,515,156
			Total liabilities	12,857,616		10,447,451

	Stockholder's Equity
		Common stock, $1,000 par value; 2,000 shares
			authorized, issued and outstanding	2,000		2,000
		Additional paid-in capital		256,000		256,000
		Accumulated other comprehensive income, net of
			tax (benefit) expense of $(788) in 2016 and $976 in 2015	20,167		23,442
		Retained earnings		185,540		333,757
			Total stockholder's equity	463,707		615,199
			Total liabilities and stockholder's equity	$	13,321,323	$	11,062,650

See accompanying Notes to Financial Statements

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Income Statements

(In thousands)



				Years Ended December 31,
				2016			2015			2014
Revenues
	Fee income			$	233,440		$	213,379		$	180,616
	Premium, net of reinsurance			(116,928		)	(74,889		)	(61,144		)
	Net investment income			80,199			78,753			81,690
	Net realized gains (losses) on investments:
		Total other-than-temporary impairments		(2,440		)	(1,525		)	(2,642		)
		Portion of other-than-temporary impairments included in
			other comprehensive income	142			(32		)	1,890
		Net other-than-temporary impairments		(2,298		)	(1,557		)	(752		)
		Other investment gains		13,214			1,047			4,018
		Total net realized gains (losses) on investments		10,916			(510		)	3,266
	Other income			35,565			135			147
		Total revenues		243,192			216,868			204,575
Benefits and Expenses
	Death, other policy benefits and change in policy reserves, net of deferrals			9,081			(15,068		)	27,668
	Interest credited on other contract holder funds, net of deferrals			40,743			38,637			39,481
	Operating costs and other expenses, net of deferrals			72,685			70,004			60,430
	Amortization of deferred acquisition and sales inducement costs			381,530			49,019			29,718
		Total benefits and expenses		504,039			142,592			157,297
			Pretax (loss) income	(260,847		)	74,276			47,278
	Income tax (benefit) expense			(112,630		)	10,401			10,336
		Net (loss) income		$	(148,217	)	$	63,875		$	36,942

See accompanying Notes to Financial Statements

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Statements of Comprehensive Income

(In thousands)



		Years Ended December 31,
		2016			2015			2014
Net (loss) income		$	(148,217	)	$	63,875		$	36,942

Other comprehensive (loss) income, net of tax:
	Net unrealized (losses) gains on securities not other-than-temporarily impaired (net of tax (benefit) expense of: 2016 $(287); 2015 $(11,300); 2014 $5,389)	(531		)	(20,987		)	10,007

	Net unrealized (losses) gains on other-than-temporarily impaired securities (net of tax (benefit) expense of: 2016 $(42); 2015 $8; 2014 $(526))	(79		)	16			(977		)

	Reclassification adjustment for losses included in net income (net of tax benefit of: 2016 $1,435; 2015 $741; 2014 $1,011)	(2,665		)	(1,376		)	(1,877		)
Total other comprehensive (loss) income		(3,275		)	(22,347		)	7,153
Comprehensive (loss) income		$	(151,492	)	$	41,528		$	44,095

See accompanying Notes to Financial Statements

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Statements of Stockholder's Equity

(In thousands)



							Accumulated
					Additional		Other						Total
			Common		Paid-In		Comprehensive			Retained			Stockholder's
			Stock		Capital		Income			Earnings			Equity
Balances as of December 31, 2013			$	2,000	$	256,000	$	38,636		$	232,940		$	529,576

	Net income		—		—		—			36,942			36,942
	Change in unrealized investment gains
		and losses, net of tax	—		—		7,153			—			7,153
Balances as of December 31, 2014			2,000		256,000		45,789			269,882			573,671

	Net income		—		—		—			63,875			63,875
	Change in unrealized investment gains
		and losses, net of tax	—		—		(22,347		)	—			(22,347		)
Balances as of December 31, 2015			2,000		256,000		23,442			333,757			615,199

	Net loss		—		—		—			(148,217		)	(148,217		)
	Change in unrealized investment gains
		and losses, net of tax	—		—		(3,275		)	—			(3,275		)
Balances as of December 31, 2016			$	2,000	$	256,000	$	20,167		$	185,540		$	463,707

See accompanying Notes to Financial Statements

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Statements of Cash Flows

(In thousands)



				Years Ended December 31,
				2016			2015			2014
Cash flows from operating activities:
	Net income			$	(148,217	)	$	63,875		$	36,942
	Adjustments to reconcile net income to net cash
	provided by operating activities:
		Net realized (gains) losses on investments		(10,916		)	510			(3,266		)
		Interest credited on deposit liabilities, gross		40,802			38,692			39,553
		Amortization of discount and premium on investments		(1,390		)	(1,690		)	(1,140		)
		Deferred income tax (benefit) expense		(107,707		)	10,816			(3,328		)
		Change in:
			Accrued investment income	572			(416		)	537
			Deferred sales inducements and acquisition costs	312,843			(35,359		)	(59,027		)
			Trading portfolio activity, net	388			34			261
			Income taxes receivable from/payable to Parent	(1,463		)	(3,190		)	4,734
			Claims payable	1,929			279			5,631
			Payable to/receivable from Parent	562			772			(1,246		)
			Other assets and liabilities, net	4,602			(11,341		)	20,508
		Net cash provided by operating activities		92,005			62,982			40,159

Cash flows from investing activities:
	Fixed maturities:
		Proceeds from sales, maturities and repayments		465,187			205,307			190,478
		Purchases		(540,398		)	(310,554		)	(195,744		)
	Other investing activities			1,723			2,820			(2,571		)
	Net cash used in investing activities			(73,488		)	(102,427		)	(7,837		)

Cash flows from financing activities:
	Policyholders' account balances:
		Deposits		1,374,570			1,733,663			1,828,977
		Withdrawals		(708,412		)	(659,083		)	(625,021		)
	Net transfers to separate accounts			(556,655		)	(1,006,368		)	(1,248,902		)
	Net cash provided by (used in) financing activities			109,503			68,212			(44,946		)

	Net increase (decrease) in cash and cash equivalents			128,020			28,767			(12,624		)

Cash and cash equivalents, beginning of year				119,596			90,829			103,453
Total cash and cash equivalents, end of year				$	247,616		$	119,596		$	90,829

Supplemental Cash Flow Information
	Income tax (received from) paid to Parent			$	(3,461	)	$	2,775		$	8,930

See accompanying Notes to Financial Statements

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015


1.	Business and Basis of Presentation

Jackson National Life Insurance Company of New York, (the “Company” or “Jackson-NY”) is wholly owned by Jackson National Life Insurance Company (“Jackson” or the “Parent”), a wholly owned subsidiary of Brooke Life Insurance Company (“Brooke Life”), which is ultimately a wholly owned subsidiary of Prudential plc (“Prudential”), London, England. Jackson-NY is licensed to sell group and individual annuity products (including immediate annuities, deferred fixed annuities and variable annuities), guaranteed investment contracts and individual life insurance products, including variable universal life, in the states of New York, Delaware, and Michigan.

Basis of Presentation

The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).

The preparation of the financial statements in conformity with GAAP requires the use of estimates and assumptions about future events that affect the amounts reported in the financial statements and the accompanying notes. Significant estimates or assumptions, as further discussed in the notes, include: 1) valuation of investments, including fair values of securities deemed to be in an illiquid market and the determination of when an impairment is other-than-temporary; 2) assumptions impacting estimated future gross profits, including but not limited to, policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates, used in the calculation of amortization of deferred acquisition costs and deferred sales inducements; 3) assumptions used in calculating policy reserves and liabilities, including but not limited to, policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates; 4) assumptions as to future earnings levels being sufficient to realize deferred tax benefits; 5) estimates related to liabilities for lawsuits, contingencies and other accruals; 6) assumptions and estimates associated with the Company’s tax positions which impact the amount of recognized tax benefits recorded by the Company; and 7) value of guaranteed benefits. These estimates and assumptions are based on management’s best estimates and judgments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors deemed appropriate. As facts and circumstances dictate, these estimates and assumptions may be adjusted. Since future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in estimates, including those resulting from continuing changes in the economic environment, will be reflected in the financial statements in the periods the estimates are changed.


2.	Summary of Significant Accounting Policies

Changes in Accounting Principles - Adopted in Current Year

In May 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-07, “Fair Value Measurement: Disclosures for Certain Investments that Calculate Net Asset Value per Share (or Its Equivalent),” which removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. In addition, the amendments remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient, and limits those disclosures only to those investments for which the practical expedient has been elected. Effective January 1, 2016, the Company adopted ASU No. 2015-07 with no impact on the Company’s financial statements.

Changes in Accounting Principles - Issued but Not Yet Adopted

In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments,” which clarifies the classification of eight specific cash flow issues in an entity’s statement of cash flows where it was determined there is diversity in practice. ASU No. 2016-15 is effective for annual periods beginning after December 15, 2018, and should be applied retrospectively for all periods presented. Early adoption is permitted. The adoption of ASU No. 2016-15 is not expected to have a material impact on the Company’s financial statements, as the requirements are presentational only within the statement of cash flows.

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments,” which provides a new current expected credit loss model to account for credit losses on certain financial assets and off-balance sheet exposures. The model requires an entity to estimate lifetime credit losses related to such financial assets and exposures based on relevant information about past events, current conditions,

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

and reasonable and supportable forecasts that affect the collectability of the reported amount. The guidance also modifies the current other-than-temporary impairment guidance for available-for-sale debt securities to require the use of an allowance rather than a direct write down of the investment, and replaces existing guidance for purchased credit deteriorated loans and debt securities. ASU No. 2016-13 is effective for annual reporting periods beginning after December 15, 2020. Early adoption is permitted for annual periods beginning after December 15, 2018. The Company is currently assessing the impact of the guidance on the Company’s financial statements and disclosures.

In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities,” which revises an entity’s accounting related to the classification and measurement of certain equity investments and the presentation of certain fair value changes for financial liabilities measured at fair value. The guidance also amends certain disclosure requirements associated with the fair value of financial instruments. ASU No. 2016-01 is effective for annual periods beginning after December 15, 2017, and should be adopted in the financial statements through a cumulative effect adjustment to the beginning balance of retained earnings. Early adoption is generally not permitted, except as defined in the ASU. The Company is currently assessing the impact of the guidance on the Company’s financial statements and disclosures.

In January 2015, the FASB issued ASU No. 2015-01, “Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items,” which eliminates the concept of extraordinary items. This ASU may be applied prospectively or retrospectively. Early adoption is permitted if the guidance is applied as of the beginning of the annual period of adoption. ASU No. 2015-01 is effective for annual periods ending after December 15, 2016 and is not expected to have an impact on the Company’s financial statements.

In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern,” which defines management’s responsibility to evaluate whether there is substantial doubt about the organization’s ability to continue as a going concern and to provide related disclosures in the footnotes. Management is required to evaluate for each annual period whether it is probable that the entity will not be able to meet its obligations as they become due within one year after the date that financial statements are issued, or available to be issued. ASU No. 2014-15 is effective for periods beginning after December 15, 2016 and is not expected to have an impact on the Company’s financial statements.

Variable Annuity Reinsurance Agreement Amendment

Effective December 31, 2016, Jackson-NY amended its variable annuity reinsurance agreement with Jackson.

Prior to the amendment, the agreement ceded to Jackson 90% of the guaranteed minimum withdrawal benefits liability associated with variable annuity contracts issued by Jackson-NY. The purpose of the amendment is to transfer to Jackson 90% of the total variable annuity contract risk associated with variable annuities issued by Jackson-NY. This transfer allows for better alignment with risk mitigation strategies employed at the parent company level.

The amendment of the treaty allows for 90% of the entire variable annuity contract to be ceded to Jackson on a coinsurance basis (modified coinsurance for Separate Account liabilities) and covers all existing and future issues of variable annuity contracts issued by Jackson-NY.

This transaction resulted in a deferred gain of $242.9 million, ceded reserves of $1,148.9 million, which were reported in reinsurance recoverable, net and a payable to parent of $905.9 million. Additionally, as the underlying business is no longer retained, deferred acquisition costs of $341.0 million and deferred sales inducements of $0.7 million were written off. The deferred gain will be amortized into income over the life of the business.

The amendment was “non-disapproved” by the insurance departments of Michigan and New York, and the payable to parent was settled in 2017.

Comprehensive Income

Comprehensive income includes all changes in stockholder’s equity (except those arising from transactions with owner/stockholder) and, in the Company’s case, includes net income and net unrealized gains or losses on available for sale securities.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Investments

Fixed maturities consist primarily of bonds and asset-backed securities. Acquisition discounts and premiums on fixed maturities are amortized into investment income through call or maturity dates using the effective interest method. Discounts and premiums on asset-backed securities are amortized over the estimated redemption period. Certain asset-backed securities are considered to be other than high quality or otherwise deemed to be high-risk, meaning the Company might not recover substantially all of its recorded investment due to unanticipated prepayment events. For these securities, changes in investment yields due to changes in estimated future cash flows are accounted for on a prospective basis. The carrying value of such securities was $15.6 million and $20.2 million as of December 31, 2016 and 2015, respectively.

Fixed maturities are classified as available for sale and are carried at fair value. For declines in fair value considered to be other-than-temporary, an impairment charge reflecting the difference between the amortized cost basis and fair value is included in net realized losses on investments. If management believes the Company does not intend to sell the security and is not more likely than not to be required to sell the security prior to recovery of its amortized cost basis, an amount representing the non-credit related portion of a loss is reclassified out of net realized losses on investments and into other comprehensive income. In determining whether an other-than-temporary impairment has occurred, and in calculating the non-credit related component of the total impairment loss, the Company considers a number of factors, which are further described in Note 3.

Equity securities are classified as trading. Trading securities are carried at fair value with changes in value included in net investment income.

Policy loans are loans the Company issues to contract holders that use the cash surrender value of their life insurance policy or annuity contract as collateral.

Realized gains and losses on sales of investments are recognized in income at the date of sale and are determined using the specific cost identification method.

The changes in unrealized gains and losses on certain investments that are classified as available for sale and the non-credit related portion of other-than-temporary impairment charges are excluded from net income and included as a component of other comprehensive income and stockholder’s equity, net of tax, and the effect of the adjustment for deferred acquisition costs and deferred sales inducements.

Embedded Derivatives

Certain guarantees offered in connection with variable annuities issued by the Company contain embedded derivatives as defined by current accounting guidance. These derivatives, embedded in certain host liabilities that have been separated for accounting and financial reporting purposes, are carried at fair value. Jackson-NY’s guaranteed minimum income benefit (“GMIB”) book is reinsured through an unrelated party, and due to the net settlement provisions of the reinsurance agreement, this contract meets the definition of a derivative. Accordingly, the GMIB reinsurance agreement is recorded at fair value. Guaranteed minimum withdrawal benefits (“GMWB”) associated with variable annuities are reinsured through the contract that Jackson-NY has with its Parent. The direct GMWB reserve and related ceded reserves are also considered an embedded derivative and are carried at fair value. Further details regarding the fair values of these items are included in Note 4 and details regarding this amendment are included in Note 6. Embedded derivative results are reported in death, other policy benefits and change in policy reserves.

Cash and Cash Equivalents

Cash and cash equivalents primarily include money market instruments and bank deposits.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Fair Value Measurement

Fair value measurements are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. All financial assets and liabilities measured at fair value are required to be classified into one of the following categories:


Level 1	Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 1 securities include U.S. Treasury securities and exchange traded equity securities.


Level 2	Observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Most fixed maturity securities that are model priced using observable inputs are classified within Level 2.

Level 3

Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk). Embedded derivatives that are valued using unobservable inputs are included in Level 3. Because Level 3 fair values, by their nature, contain unobservable market inputs, considerable judgment may be used to determine the Level 3 fair values. Level 3 fair values represent the Company’s best estimate of an amount that could be realized in a current market exchange absent actual market exchanges.

In many situations, inputs used to measure the fair value of an asset or liability may fall into different levels of the fair value hierarchy. In these situations, the Company determines the level in which the fair value falls based upon the lowest level input that is significant to the determination of the fair value. As a result, both observable and unobservable inputs may be used in the determination of fair values that the Company has classified within Level 3.

The Company determines the fair values of certain financial assets and liabilities based on quoted market prices, where available. The Company may also determine fair value based on estimated future cash flows discounted at the appropriate current market rate. When appropriate, fair values reflect adjustments for counterparty credit quality, the Company’s credit standing, liquidity and risk margins on unobservable inputs.

Where quoted market prices are not available, fair value estimates are made at a point in time, based on relevant market data, as well as the best information about the individual financial instrument. At times, illiquid market conditions may result in inactive markets for certain of the Company’s financial instruments. In such instances, there may be no or limited observable market data for these assets and liabilities. Fair value estimates for financial instruments deemed to be in an illiquid market are based on judgments regarding current economic conditions, liquidity discounts, currency, credit and interest rate risks, loss experience and other factors. These fair values are estimates and involve considerable uncertainty and variability as a result of the inputs selected and may differ materially from the values that would have been used had an active market existed. As a result of market inactivity, such calculated fair value estimates may not be realizable in an immediate sale or settlement of the instrument. In addition, changes in the underlying assumptions used in the fair value measurement technique could significantly affect these fair value estimates.

Refer to Note 4 for further discussion of the methodologies used to determine fair values of the Company’s financial instruments.

Deferred Acquisition Costs

Under current accounting guidance, certain costs that are directly related to the successful acquisition of new or renewal insurance business can be capitalized as deferred acquisition costs. These costs primarily pertain to commissions and certain costs associated with policy issuance and underwriting. All other acquisition costs are expensed as incurred.

Deferred acquisition costs are increased by interest thereon and amortized into income in proportion to anticipated premium revenues for traditional life policies and in proportion to estimated gross profits, including realized gains and losses and embedded derivative movements, for annuities and interest-sensitive life products. Due to volatility of certain factors that affect gross profits, including realized capital gains and losses and embedded derivative movements,

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

amortization may be a benefit or a charge in any given period. In the event of negative amortization, the related deferred acquisition cost balance is capped at the initial amount capitalized, plus interest. Unamortized deferred acquisition costs are written off when a contract is internally replaced and substantially changed.

As certain fixed maturities available for sale are carried at fair value, an adjustment is made to deferred acquisition costs equal to the change in amortization that would have occurred if such securities had been sold at their stated fair value and the proceeds reinvested at current yields. This adjustment, along with the change in net unrealized gains (losses) on fixed maturities available for sale, net of applicable tax, is credited or charged directly to stockholder’s equity as a component of other comprehensive income. At December 31, 2016 and 2015, deferred acquisition costs decreased by $14.3 million and $17.2 million, respectively, to reflect this adjustment.

For variable annuity business, the Company employs a mean reversion methodology that is applied with the objective of adjusting the amortization of deferred acquisition costs that would otherwise be highly volatile due to fluctuations in the level of future gross profits arising from changes in equity market levels. The mean reversion methodology achieves this objective by applying a dynamic adjustment to the assumption for short-term future investment returns. Under this methodology, the projected returns for the next five years are set such that, when combined with the actual returns for the current and preceding two years, the average rate of return over the eight year period is 7.4%, after investment management fees for both 2016 and 2015. The mean reversion methodology does, however, include a cap and a floor of 15% and 0% per annum, respectively, on the projected return for each of the next five years. At December 31, 2016 and 2015, projected returns after the next five years were set at 7.4%. At December 31, 2016 and 2015, projected returns under mean reversion were within the range bounded by the 15% cap and 0% floor.

Deferred acquisition costs are reviewed periodically to ensure that the unamortized portion does not exceed the expected recoverable amounts. Any amount deemed unrecoverable is written off with a charge through deferred acquisition costs amortization. No such write-offs were required for 2015 and 2014. As a result of the previously mentioned amended reinsurance agreement, deferred acquisition costs of $341.0 million were written off, as the business is no longer retained.

Deferred Sales Inducements

Under current accounting guidance, certain sales inducement costs that are directly related to the successful acquisition of new or renewal insurance business can be capitalized as deferred sales inducement costs. Bonus interest on deferred fixed annuities and contract enhancements on variable annuities are capitalized as deferred sales inducements. Deferred sales inducements are increased by interest thereon and amortized into income in proportion to estimated gross profits, including realized capital gains and losses and embedded derivative movements. Due to volatility of certain factors that affect gross profits, including realized capital gains and losses and embedded derivative movements, amortization may be a benefit or a charge in any given period. In the event of negative amortization, the related deferred sales inducements balance is capped at the initial amount capitalized, plus interest. Unamortized deferred sales inducements are written off when a contract is internally replaced and substantially changed.

As certain fixed maturities available for sale are carried at fair value, an adjustment is made to deferred sales inducements equal to the change in amortization that would have occurred if such securities had been sold at their stated fair value and the proceeds reinvested at current yields. This adjustment, along with the change in net unrealized gains (losses) on fixed maturities available for sale, net of applicable tax, is credited or charged directly to stockholder’s equity as a component of other comprehensive income. At December 31, 2016 and 2015, deferred sales inducements decreased by $0.5 million and $0.8 million, respectively, to reflect this adjustment.

For variable annuity business, the Company employs the same mean reversion methodology as is employed for deferred acquisition costs as described above.

Deferred sales inducements are reviewed periodically to ensure that the unamortized portion does not exceed the expected recoverable amounts. Any amount deemed unrecoverable is written off with a charge through deferred sales inducements amortization. No such write-offs were required for 2015 and 2014. As a result of the previously mentioned amended reinsurance agreement, deferred sales inducements of $0.7 million were written off, as the underlying business is no longer retained.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Actuarial Assumption Changes (Unlocking)

Annually, or as circumstances warrant, the Company conducts a comprehensive review of the assumptions used for its estimates of future gross profits underlying the amortization of deferred acquisition costs and deferred sales inducements, as well as the valuation of the embedded derivatives and reserves for life insurance and annuity products with living benefit and death benefit guarantees. These assumptions include, but may not be limited to, policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates. Based on this review, the cumulative balances of deferred acquisition costs, deferred sales inducements and life and annuity guaranteed benefit reserves are adjusted with a corresponding benefit or charge to net income.

Reinsurance

The Company enters into ceded reinsurance agreements with other companies in the normal course of business. Reinsurance agreements are reported on a gross basis on the Company’s balance sheets as an asset for amounts recoverable from reinsurers or as a component of other liabilities for amounts, such as premiums, owed to reinsurers. Reinsurance ceded premiums and benefits provided are accounted for on bases consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Premium income and benefit expenses are reported net of insurance ceded.

Federal Income Taxes

The Company files a consolidated federal income tax return with Jackson and Brooke Life. The Company has entered into a written tax sharing agreement, which is generally based on separate return calculations. Intercompany balances are settled on a quarterly basis.

Deferred federal income taxes arise from the recognition of temporary differences between the basis of assets and liabilities determined for financial reporting purposes and the basis determined for income tax purposes. Such temporary differences are principally related to the effects of recording certain invested assets at market value, the deferral of policy acquisition costs and sales inducements and the provisions for future policy benefits and expenses. Deferred tax assets and liabilities are measured using the tax rates expected to be in effect when such benefits are realized. Jackson-NY is required to test the value of deferred tax assets for realizability. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available positive and negative evidence, it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. In determining the need for a valuation allowance, the Company considers the carryback eligibility of losses, reversal of existing temporary differences, estimated future taxable income and tax planning strategies.

The determination of the valuation allowance for Jackson-NY’s deferred tax assets requires management to make certain judgments and assumptions regarding future operations that are based on historical experience and expectations of future performance. In order to recognize a tax benefit in the financial statements, there must be a greater than fifty percent chance of success of the Company’s position being sustained by the relevant taxing authority with regard to that tax position. Management’s judgments are potentially subject to change given the inherent uncertainty in predicting future performance, which is impacted by such factors as policyholder behavior, competitor pricing and other specific industry and market conditions.

The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits as a component of tax expense.

Payable to Parent

As a result of the previously mentioned amended reinsurance agreement, the net payment of $905.9 million was reported as a payable to parent at December 31, 2016and settled in 2017.

Deferred Gain on Reinsurance

As discussed above, Jackson-NY amended its variable annuity reinsurance agreement with Jackson in 2016. The original agreement resulted in a deferred gain of $0.9 million in 2009, which is being amortized into income over the life of the business. The reinsurance agreement amendment in 2016 resulted in an initial gain to Jackson-NY of $242.9 million, which was deferred and will be amortized into income over the life of the business.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds

For traditional life insurance contracts, which include term and whole life, reserves for future policy benefits are determined using the net level premium method and assumptions as of the issue date or acquisition date as to mortality, interest, persistency and expenses plus provisions for adverse deviations. These assumptions are not unlocked unless the reserve is determined to be deficient. Interest rate assumptions range from 3.5% to 6.0%. Lapse, mortality, and expense assumptions are based primarily on Company experience in combination with that of its Parent. The Company’s liability for future policy benefits also includes net liabilities for guaranteed benefits related to certain nontraditional long-duration life and annuity contracts, which are further discussed in Note 8.

For the Company’s interest-sensitive life contracts, liabilities approximate the policyholder’s account value. For fixed deferred annuities and the fixed option on variable annuity contracts, the liability is the policyholder’s account value.

Contingent Liabilities

The Company is a party to legal actions and, at times, regulatory investigations. Given the inherent unpredictability of these matters, it is difficult to estimate their impact on the Company’s financial position. A reserve is established for contingent liabilities if it is probable that a loss has been incurred and the amount is reasonably estimable. It is possible that an adverse outcome in certain of the Company’s contingent liabilities, or the use of different assumptions in the determination of amounts recorded, could have a material effect upon the Company’s financial position. However, it is the opinion of management that the ultimate disposition of contingent liabilities is unlikely to have a material adverse effect on the Company's financial position.

Separate Account Assets and Liabilities

The Company maintains separate account assets associated with variable life and annuity contracts, which are reported at fair value. The related liabilities are reported at an amount equivalent to the separate account assets. Investment risks associated with market value changes are borne by the contract holders, except to the extent of minimum guarantees made by the Company. Refer to Note 8 for additional information regarding the Company’s contractual guarantees. Separate account net investment income, net investment realized and unrealized gains and losses, and the related liability changes are offset within the same line item in the income statements. Amounts assessed against the contract holders for mortality, variable annuity benefit guarantees, administrative, and other services are reported in revenue as fee income.

Revenue and Expense Recognition

Premiums for traditional life insurance are reported as revenues when due. Benefits, claims and expenses are associated with earned revenues in order to recognize profit over the lives of the contracts. This association is accomplished through provisions for future policy benefits and the deferral and amortization of certain acquisition costs.

Deposits on interest-sensitive life products and investment contracts, principally universal and variable universal life contracts and deferred annuities, are treated as policyholder deposits and excluded from revenue. Revenues consist primarily of investment income and charges assessed against the account value for mortality charges, surrenders, variable annuity benefit guarantees and administrative expenses. Surrender benefits are treated as repayments of the policyholder account. Annuity benefit payments are treated as reductions to the policyholder account. Death benefits in excess of the policyholder account are recognized as an expense when incurred. Expenses consist primarily of the interest credited to policyholder deposits. Underwriting and other direct acquisition expenses are associated with gross profit in order to recognize profit over the life of the business. This is accomplished through deferral and amortization of acquisition costs and sales inducements. Expenses not related to policy acquisition are recognized when incurred.

Investment income is not accrued on securities in default and otherwise where the collection is uncertain. In these cases, receipts of interest on such securities are used to reduce the cost basis of the securities.

Subsequent Events

The Company has evaluated events through March 21, 2017, which is the date the financial statements were available to be issued.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015


3.	Investments

Investments are comprised primarily of fixed-income securities, primarily publicly-traded corporate and government bonds and asset-backed securities. Asset-backed securities include mortgage-backed and other structured securities. The Company generates the majority of its general account deposits from interest-sensitive individual annuity contracts on which it has committed to pay a declared rate of interest. The Company's strategy of investing in fixed-income securities aims to ensure matching of the asset yield with the amounts credited to the interest-sensitive liabilities and to earn a stable return on its investments.

Fixed Maturities

The following table sets forth the composition of the fair value of fixed maturities at December 31, 2016, classified by rating categories as assigned by nationally recognized statistical rating organizations (“NRSRO”), the National Association of Insurance Commissioners (“NAIC”), or if not rated by such organizations, the Company’s affiliated investment advisor. At December 31, 2016, the carrying value of investments rated by the Company’s affiliated investment advisor totaled $18.5 million. For purposes of the table, if not otherwise rated higher by a NRSRO, NAIC Class 1 investments are included in the A rating, Class 2 in BBB, Class 3 in BB and Classes 4 through 6 in B and below.



	Percent of Total
	Fixed Maturities
	Carrying Value
Investment Rating	December 31, 2016
AAA	15.3	%
AA	7.5	%
A	38.5	%
BBB	35.0	%
Investment grade	96.3	%
BB	2.2	%
B and below	1.5	%
Below investment grade	3.7	%
Total fixed maturities	100.0	%

At December 31, 2016, based on ratings by NRSROs, of the total carrying value of fixed maturities in an unrealized loss position, 84% were investment grade, 3% were below investment grade and 13% were not rated. Unrealized losses on fixed maturities that were below investment grade or not rated were approximately 17% of the aggregate gross unrealized losses on available for sale fixed maturities.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Corporate securities in an unrealized loss position were diversified across industries. As of December 31, 2016, the industries accounting for the larger percentage of unrealized losses included utility (14% of corporate gross unrealized losses) and energy (13%). The largest unrealized loss related to a single corporate obligor was $395 thousand at December 31, 2016. At December 31, 2016 and 2015, the amortized cost, gross unrealized gains and losses, fair value and non-credit other-than-temporary impairment (“OTTI”) of available for sale fixed maturities were as follows (in thousands):



			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair		Non-credit
December 31, 2016	Cost		Gains		Losses		Value		OTTI ⁽¹⁾
Fixed Maturities
U.S. government securities	$	61,779	$	118	$	3,573	$	58,324	$	—
Other government securities	5,896		—		552		5,344		—
Public utilities	164,373		8,505		1,773		171,105		—
Corporate securities	1,256,447		38,660		10,887		1,284,220		—
Residential mortgage-backed	41,674		1,661		294		43,041		(1,430		)
Commercial mortgage-backed	204,491		3,664		1,926		206,229		—
Other asset-backed securities	145,703		1,454		816		146,341		(691		)
Total fixed maturities	$	1,880,363	$	54,062	$	19,821	$	1,914,604	$	(2,121	)


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair		Non-credit
December 31, 2015	Cost		Gains		Losses		Value		OTTI⁽¹⁾
Fixed Maturities
U.S. government securities	$	58,159	$	3,419	$	—	$	61,578	$	—
Public utilities	139,415		9,775		947		148,243		—
Corporate securities	1,221,849		43,277		23,236		1,241,890		—
Residential mortgage-backed	61,132		2,898		459		63,571		(1,926		)
Commercial mortgage-backed	225,675		7,819		1,050		232,444		(158		)
Other asset-backed securities	86,633		1,627		613		87,647		(691		)
Total fixed maturities	$	1,792,863	$	68,815	$	26,305	$	1,835,373	$	(2,775	)

⁽¹⁾ Represents the amount of cumulative non-credit OTTI gains (losses) recognized in other comprehensive income for securities on which credit impairments have been recorded.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

The amortized cost, gross unrealized gains and losses, and fair value of fixed maturities at December 31, 2016, by contractual maturity, are shown below (in thousands). Actual maturities may differ from contractual maturities where securities can be called or prepaid with or without early redemption penalties.



			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
Due in 1 year or less	$	18,086	$	231	$	—	$	18,317
Due after 1 year through 5 years	434,879		24,565		623		458,821
Due after 5 years through 10 years	951,626		15,108		14,384		952,350
Due after 10 years through 20 years	59,156		3,281		1,739		60,698
Due after 20 years	24,748		4,098		39		28,807
Residential mortgage-backed	41,674		1,661		294		43,041
Commercial mortgage-backed	204,491		3,664		1,926		206,229
Other asset-backed securities	145,703		1,454		816		146,341
Total	$	1,880,363	$	54,062	$	19,821	$	1,914,604

Securities with a carrying value of $521 thousand and $527 thousand at December 31, 2016 and 2015, respectively, were on deposit with the state of New York as required by state insurance law.

Residential mortgage-backed securities (“RMBS”) include certain RMBS which are collateralized by residential mortgage loans and are neither explicitly nor implicitly guaranteed by U.S. government agencies (“non-agency RMBS”). The Company’s non-agency RMBS include investments in securities backed by prime, Alt-A, and subprime loans as follows (in thousands):



			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2016	Cost		Gains		Losses		Value
Prime	$	8,863	$	494	$	55	$	9,302
Alt-A	7,436		472		1		7,907
Subprime	10,578		116		238		10,456
Total non-agency RMBS	$	26,877	$	1,082	$	294	$	27,665

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2015	Cost		Gains		Losses		Value
Prime	$	10,938	$	616	$	70	$	11,484
Alt-A	9,507		551		16		10,042
Subprime	12,966		115		373		12,708
Total non-agency RMBS	$	33,411	$	1,282	$	459	$	34,234

The Company defines its exposure to non-agency residential mortgage loans as follows. Prime loan-backed securities are collateralized by mortgage loans made to the highest rated borrowers. Alt-A loan-backed securities are collateralized by mortgage loans made to borrowers who lack credit documentation or necessary requirements to obtain prime borrower rates. Subprime loan-backed securities are collateralized by mortgage loans made to borrowers that have a FICO score of 680 or lower.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

The following table summarizes the number of securities, fair value and the related amount of gross unrealized losses aggregated by investment category and length of time that individual fixed maturities have been in a continuous loss position (dollars in thousands):



	December 31, 2016					December 31, 2015
	Less than 12 months					Less than 12 months
	Gross					Gross
	Unrealized		Fair		# of	Unrealized		Fair		# of
	Losses		Value		securities	Losses		Value		securities
Fixed Maturities
U.S. government securities	$	3,572	$	47,734	1	$	—	$	—	—
Other government securities	553		5,344		2	—		—		—
Public utilities	1,773		50,692		23	947		19,718		12
Corporate securities	9,660		349,571		201	16,026		365,365		244
Residential mortgage-backed	1		1,678		1	46		4,953		1
Commercial mortgage-backed	1,926		57,685		32	1,050		47,936		21
Other asset-backed securities	668		72,617		52	430		48,255		35
Total temporarily impaired
securities	$	18,153	$	585,321	312	$	18,499	$	486,227	313

	12 months or longer					12 months or longer
	Gross					Gross
	Unrealized		Fair		# of	Unrealized		Fair		# of
	Losses		Value		securities	Losses		Value		securities
Fixed Maturities
U.S. government securities	$	—	$	—	—	$	—	$	—	—
Other government securities	—		—		—	—		—		—
Public utilities	—		—		—	—		—		—
Corporate securities	1,227		29,381		20	7,210		39,995		26
Residential mortgage-backed	293		8,901		4	413		7,376		5
Commercial mortgage-backed	—		—		—	—		—		—
Other asset-backed securities	148		3,698		7	183		4,656		5
Total temporarily impaired
securities	$	1,668	$	41,980	31	$	7,806	$	52,027	36

	Total					Total
	Gross					Gross
	Unrealized		Fair		# of	Unrealized		Fair		# of
	Losses		Value		securities	Losses		Value		securities
Fixed Maturities
U.S. government securities	$	3,572	$	47,734	1	$	—	$	—	—
Other government securities	553		5,344		2	—		—		—
Public utilities	1,773		50,692		23	947		19,718		12
Corporate securities	10,887		378,952		221	23,236		405,360		270
Residential mortgage-backed	294		10,579		5	459		12,329		6
Commercial mortgage-backed	1,926		57,685		32	1,050		47,936		21
Other asset-backed securities	816		76,315		59	613		52,911		40
Total temporarily impaired
securities	$	19,821	$	627,301	343	$	26,305	$	538,254	349

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Other-Than-Temporary Impairments on Available For Sale Securities

The Company periodically reviews its available for sale fixed maturities on a case-by-case basis to determine if any decline in fair value to below cost or amortized cost is other-than-temporary. Factors considered in determining whether a decline is other-than-temporary include the length of time a security has been in an unrealized loss position, the severity of the unrealized loss and the reasons for the decline in value and expectations for the amount and timing of a recovery in fair value.

Securities the Company determines are underperforming or potential problem securities are subject to regular review. To facilitate the review, securities with significant declines in value, or where other objective criteria evidencing credit deterioration have been met, are included on a watch list. Among the criteria for securities to be included on a watch list are: credit deterioration that has led to a significant decline in fair value of the security; a significant covenant related to the security has been breached; or an issuer has filed or indicated a possibility of filing for bankruptcy, has missed or announced it intends to miss a scheduled interest or principal payment, or has experienced a specific material adverse change that may impair its creditworthiness.

In performing these reviews, the Company considers the relevant facts and circumstances relating to each investment and exercises considerable judgment in determining whether a security is other-than-temporarily impaired. Assessment factors include judgments about an obligor’s current and projected financial position, an issuer’s current and projected ability to service and repay its debt obligations, the existence of, and realizable value of, any collateral backing the obligations and the macro-economic and micro-economic outlooks for specific industries and issuers. This assessment may also involve assumptions regarding underlying collateral such as prepayment rates, default and recovery rates, and third-party servicing capabilities.

Among the specific factors considered are whether the decline in fair value results from a change in the credit quality of the security itself, or from a downward movement in the market as a whole, and the likelihood of recovering the carrying value based on the near-term prospects of the issuer. Unrealized losses that are considered to be primarily the result of market conditions (e.g., minor increases in interest rates, temporary market illiquidity or volatility or industry-related events) and where the Company also believes there exists a reasonable expectation for recovery in the near term are usually determined to be temporary. To the extent that factors contributing to impairment losses recognized affect other investments, such investments are also reviewed for other-than-temporary impairment and losses are recorded when appropriate.

In addition to the review procedures described above, investments in asset-backed securities where market prices are depressed are subject to a review of their future estimated cash flows, including expected and stress case scenarios, to identify potential shortfalls in contractual payments. These estimated cash flows are developed using available performance indicators from the underlying assets including current and projected default or delinquency rates, levels of credit enhancement, current subordination levels, vintage, expected loss severity and other relevant characteristics. These estimates reflect a combination of data derived by third parties and internally developed assumptions. Where possible, this data is benchmarked against third-party sources.

Even in the case of severely depressed market values on asset-backed securities, the Company places significant reliance on the results of its cash flow testing and its lack of an intent to sell these securities until their fair values recover when reaching other-than-temporary impairment conclusions with regard to these securities. Other-than-temporary impairment charges are recorded on asset-backed securities when the Company forecasts a contractual payment shortfall.

The Company recognizes other-than-temporary impairments on debt securities in an unrealized loss position when any of the following circumstances exists:


•	The Company does not expect full recovery of the amortized cost based on the discounted cash flows estimated to be collected;


•	The Company intends to sell a security; or,


•	It is more likely than not that the Company will be required to sell a security prior to recovery.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

For mortgage-backed securities, credit impairment is assessed using a cash flow model that estimates the cash flows on the underlying mortgages, using the security-specific collateral characteristics and transaction structure. The model estimates cash flows from the underlying mortgage loans and distributes those cash flows to various tranches of securities, considering the transaction structure and any subordination and credit enhancements existing in that structure. The cash flow model incorporates actual cash flows on the mortgage-backed securities through the current period and then projects the remaining cash flows using a number of assumptions, including prepayment speeds, default rates and loss severity.

Specifically for prime and Alt-A RMBS, the assumed default percentage is dependent on the severity of delinquency status, with foreclosures and real estate owned receiving higher rates, but also includes the currently performing loans. As of December 31, 2016 and 2015, assumed default rates for delinquent loans ranged from 15% to 100%. At December 31, 2016 and 2015, assumed loss severities were applied to generate and analyze cash flows of each security and ranged from 25% to 70%.

These estimates reflect a combination of data derived by third-parties and internally developed assumptions. Where possible, this data is benchmarked against other third-party sources. In addition, these estimates are extrapolated along a default timing curve to estimate the total lifetime pool default rate.

Other-than-temporary impairments are calculated as the difference between amortized cost and fair value. For other-than-temporarily impaired securities where Jackson-NY does not intend to sell the security and it is not more likely than not that Jackson-NY will be required to sell the security prior to recovery, total other-than-temporary impairments are reduced by the non-credit portion of the other-than-temporary impairments, which are recognized in other comprehensive income. The resultant net other-than-temporary impairments recorded in net income reflect only the credit loss on the other-than-temporarily impaired securities. The amortized cost of the other-than-temporarily impaired securities is reduced by the amount of this credit loss.

For securities that were deemed to be other-than-temporarily impaired and for which a non-credit loss was recorded in other comprehensive income, the amount recorded as an unrealized gain (loss) represents the difference between the fair value and the new amortized cost basis of the securities. The unrealized gain (loss) on other-than-temporarily impaired securities is recorded in other comprehensive income.

The following table summarizes net realized gains (losses) on investments (in thousands):



	Years Ended December 31,
	2016			2015			2014
Available-for-sale securities
Realized gains on sale	$	19,726		$	4,175		$	4,439
Realized losses on sale	(6,529		)	(3,146		)	(421		)
Impairments:
Total other-than-temporary impairments	(2,440		)	(1,525		)	(2,642		)
Portion of other-than-temporary impairments
included in other comprehensive income	142			(32		)	1,890
Net other-than-temporary impairments	(2,298		)	(1,557		)	(752		)
Other	17			18			—
Net realized gains (losses) on investments	$	10,916		$	(510	)	$	3,266

The aggregate fair value of securities sold at a loss for the years ended December 31, 2016, 2015, and 2014 was $55.7 million, $16.4 million, and $18.4 million, respectively, which was approximately 90%, 84%, and 98% of book value, respectively.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

The following summarizes the current year activity for credit losses recognized in net income on debt securities where an other-than-temporary impairment was identified and the non-credit portion of the other-than-temporary impairment was included in other comprehensive income (in thousands):



	Years Ended December 31,
	2016			2015
Cumulative credit loss beginning balance	$	8,673		$	8,512
Additions:
New credit losses	2,132			1,381
Incremental credit losses	166			176
Reductions:
Securities sold, paid down or disposed of	(5,588		)	(1,396		)
Securities where there is intent to sell	(291		)	—
Cumulative credit loss ending balance	$	5,092		$	8,673

There are inherent uncertainties in assessing the fair values assigned to the Company’s investments and in determining whether a decline in fair value is other-than-temporary. The Company’s reviews of net present value and fair value involve several criteria including economic conditions, credit loss experience, other issuer-specific developments and estimated future cash flows. These assessments are based on the best available information at the time. Factors such as market liquidity, the widening of bid/ask spreads and a change in the cash flow assumptions can contribute to future price volatility. If actual experience differs negatively from the assumptions and other considerations used in the financial statements, unrealized losses currently reported in accumulated other comprehensive income may be recognized in the income statements in future periods.

The Company currently has no intent to sell securities with unrealized losses considered to be temporary until they mature or recover in value and believes that it has the ability to do so. However, if the specific facts and circumstances surrounding an individual security, or the outlook for its industry sector change, the Company may sell the security prior to its maturity or recovery and realize a loss.

Securities Lending

The Company has entered into a securities lending agreement with an agent bank whereby blocks of securities are loaned to third parties, primarily major brokerage firms. This agreement is subject to master netting arrangements and collateral arrangements, which creates a right of offset for amounts due to and due from that same counterparty that is enforceable in the event of a default or bankruptcy. The Company recognizes amounts subject to master netting arrangements on a gross basis within the balance sheets.

As of December 31, 2016 and 2015, the estimated fair value of loaned securities was $10.5 million and $8.7 million, respectively. The agreements require a minimum of 102 percent of the fair value of the loaned securities to be held as collateral, calculated on a daily basis. To further minimize the credit risks related to this program, the financial condition of counterparties is monitored on a regular basis. At December 31, 2016 and 2015, cash collateral received in the amount of $10.7 million and $9.0 million, respectively, was invested by the agent bank and included in cash and cash equivalents of the Company. A securities lending payable for the overnight and continuous loans is included in other liabilities in the amount of cash collateral received.

Securities lending transactions are used to generate income. Income and expenses associated with these transactions are reported in net investment income.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015


4.	Fair Value Measurements

The following chart summarizes the fair value and carrying value of Jackson-NY’s financial instruments (in thousands). The basis for determining the fair value of each instrument is described in Note 2.



		December 31, 2016				December 31, 2015
		Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
	Fixed maturities	$	1,914,604	$	1,914,604	$	1,835,373	$	1,835,373
	Trading securities	144		144		532		532
	Policy loans	299		299		282		282
	Cash and cash equivalents	247,616		247,616		119,596		119,596
	Reinsurance recoverable, net⁽¹⁾	1,246,315		1,843,926		134,580		134,580
	Separate account assets	9,638,780		9,638,780		8,515,156		8,515,156

Liabilities
	Annuity reserves ⁽²⁾	$	1,900,114	$	2,551,445	$	1,750,750	$	2,246,908
	Securities lending payable	10,744		10,744		9,021		9,021
	Separate account liabilities	9,638,780		9,638,780		8,515,156		8,515,156

⁽¹⁾ Represents only the components of reinsurance recoverable that are considered to be financial instruments, which arise from the GMWB and GMIB reinsurance agreements.
⁽²⁾Annuity reserves represent only the components of other contract holder funds and reserves for future policy benefits and claims payable that are considered to be financial instruments.

The following is a discussion of the methodologies used to determine fair values of the financial instruments measured on both a recurring and nonrecurring basis reported in the following tables.

Fixed Maturity and Trading Securities

The fair values for fixed maturity and trading securities are determined using information available from independent pricing services, broker-dealer quotes, or internally derived estimates. Priority is given to publicly available prices from independent sources, when available. Securities for which the independent pricing service does not provide a quotation are either submitted to independent broker-dealers for prices or priced internally. Typical inputs used by these three pricing methods include, but are not limited to, reported trades, benchmark yields, credit spreads, liquidity premiums, and/or estimated cash flows based on default and prepayment assumptions.

As a result of typical trading volumes and the lack of specific quoted market prices for most fixed maturities, independent pricing services will normally derive the security prices through recently reported trades for identical or similar securities, making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recently reported trades, the independent pricing services and broker-dealers may use matrix or pricing model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at relevant market rates. Certain securities are priced using broker-dealer quotes, which may utilize proprietary inputs and models. Additionally, the majority of these quotes are non-binding.

Included in the pricing of asset-backed securities are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and prepayment assumptions believed to be relevant for the underlying collateral. Actual prepayment experience may vary from these estimates.

Internally derived estimates may be used to develop a fair value for securities for which the Company is unable to obtain either a reliable price from an independent pricing service or a suitable broker-dealer quote. These fair value estimates may incorporate Level 2 and Level 3 inputs and are generally derived using expected future cash flows, discounted at market interest rates available from market sources based on the credit quality and duration of the instrument. For securities that may not be reliably priced using these internally developed pricing models, a fair value

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

may be estimated using indicative market prices. These prices are indicative of an exit price, but the assumptions used to establish the fair value may not be observable or corroborated by market observable information and, therefore, represent Level 3 inputs.

The Company performs a monthly analysis on the prices and credit spreads received from third parties to ensure that the prices represent a reasonable estimate of the fair value. This process involves quantitative and qualitative analysis and is overseen by investment and accounting professionals. Examples of procedures performed include, but are not limited to, initial and ongoing review of third party pricing service methodologies, review of pricing statistics and trends, back testing recent trades and monitoring of trading volumes. In addition, the Company considers whether prices received from independent broker-dealers represent a reasonable estimate of fair value through the use of internal and external cash flow models, which are developed based on spreads and, when available, market indices. As a result of this analysis, if the Company determines there is a more appropriate fair value based upon the available market data, the price received from the third party may be adjusted accordingly.

For those securities that were internally valued at December 31, 2016 and 2015, the pricing model used by the Company utilizes current spread levels of similarly rated securities to determine the market discount rate for the security. Furthermore, appropriate risk premiums for illiquidity and non-performance are incorporated in the discount rate. Cash flows, as estimated by the Company using issuer-specific default statistics and prepayment assumptions, are discounted to determine an estimated fair value.

On an ongoing basis, the Company reviews the independent pricing services’ valuation methodologies and related inputs, and evaluates the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy distribution based upon trading activity and the observability of market inputs. Based on the results of this evaluation, each price is classified into Level 1, 2, or 3. Most prices provided by independent pricing services, including broker quotes, are classified into Level 2 due to their use of market observable inputs.

Policy Loans

Policy loans are funds provided to policyholders in return for a claim on the policies values and function like demand deposits which are redeemable upon repayment, death or surrender, and there is only one market price at which the transaction could be settled - the then current carrying value. The funds provided are limited to the cash surrender value of the underlying policy. The nature of policy loans is to have a negligible default risk as the loans are fully collateralized by the value of the policy. Policy loans do not have a stated maturity and the balances and accrued interest are repaid either by the policyholder or with proceeds from the policy. Due to the collateralized nature of policy loans and unpredictable timing of payments, the Company believes the carrying value of policy loans approximates fair value.

Cash and Cash Equivalents

Cash and cash equivalents primarily include money market instruments and bank deposits. Money market instruments are valued using unadjusted quoted prices in active markets and are classified as Level 1.

Reinsurance Recoverable

Reinsurance recoverable includes ceded amounts related to both variable annuity guaranteed benefit reserves and variable annuity general account fund balances. Certain ceded guaranteed benefit reserves are carried at fair value, as discussed below. Fair values of general account fund balances are determined using projected future cash flows discounted at current market rates.

Separate Account Assets and Liabilities

Separate account assets are comprised of investments in mutual funds that transact regularly, but do not trade in active markets as they are not publically available, are categorized as Level 2 assets. The value of separate account liabilities are set equal to the values of separate account assets.

Other Contract Holder Funds

Fair values for immediate annuities without mortality features are derived by discounting the future estimated cash flows using current market interest rates for similar maturities. Fair values for deferred annuities are determined using projected future cash flows discounted at current market interest rates.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Securities Lending Payable

The Company’s securities lending payable, which is included in other liabilities, is set equal to the cash collateral received. Due to the short-term nature of the loans, carrying value is a reasonable estimate of fair value and is classified as Level 2.

Certain Guaranteed Benefits

Variable annuity contracts issued by the Company offer various guaranteed minimum death, withdrawal, and income benefits. Certain benefits, primarily non-life contingent GMWBs and the reinsurance recoverable on the Company’s GMIBs, are recorded at fair value. Guaranteed benefits that are not subject to fair value accounting are accounted for as insurance benefits.

Non-life contingent components of GMWBs are recorded at fair value with changes in fair value recorded in death, other policy benefits and change in policy reserves. The fair value of the reserve is based on the expectations of future benefit payments and certain future fees associated with the benefits. At the inception of the contract, the Company attributes to the embedded derivative a portion of total fees collected from the contract holder, which is then held static in future valuations. Those fees, generally referred to as the attributed fees, are set such that the present value of the attributed fees is equal to the present value of future claims expected to be paid under the guaranteed benefit at the inception of the contract. In subsequent valuations, both the present value of future benefits and the present value of attributed fees are revalued based on current market conditions and policyholder behavior assumptions. The difference between each of the two components represents the fair value of the embedded derivative. The ceded reserves for these products are calculated based on the assuming company’s share of the direct reserve.

Jackson-NY’s GMIB book is reinsured through an unrelated party, and due to the net settlement provisions of the reinsurance agreement, this contract meets the definition of a derivative. Accordingly, the GMIB reinsurance agreement is recorded at fair value, with changes in fair value recorded in death, other policy benefits and change in policy reserves. Due to the inability to economically reinsure or hedge new issues of the GMIB, the Company discontinued offering the benefit in 2009.

Fair values for direct and ceded GMWB embedded derivatives, as well as GMIB reinsurance recoverables, are calculated using internally developed models because active, observable markets do not exist for those guaranteed benefits.

The fair value calculation is based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires numerous estimates and subjective judgments related to capital market inputs, as well as actuarially determined assumptions related to expectations concerning policyholder behavior. Capital market inputs include expected market rates of return, market volatility, correlations of market index returns to funds, fund performance and discount rates. The more significant actuarial assumptions include benefit utilization by policyholders under varying conditions, fund allocation, persistency, mortality, and withdrawal rates. Best estimate assumptions plus risk margins are used as applicable.

At each valuation date, the Company assumes expected returns based on the greater of LIBOR swap rates and constant maturity treasury rates as of that date to determine the value of expected future cash flows produced in a stochastic process. Volatility assumptions are based on a weighting of available market data for implied market volatility for durations up to 10 years, grading to a historical volatility level by year 15, where such long-term historical volatility levels contain an explicit risk margin. Additionally, non-performance risk is incorporated into the calculation through the use of discount rates based on a AA corporate credit curve as an approximation of Jackson-NY’s own credit risk. Risk margins are also incorporated into the model assumptions, particularly for policyholder behavior. Estimates of future policyholder behavior are subjective and are based primarily on the Company’s experience and that of its Parent.

As markets change, mature and evolve and actual policyholder behavior emerges, management continually evaluates the appropriateness of its assumptions for this component of the fair value model.

The use of the models and assumptions described above requires a significant amount of judgment. Management believes the aggregation of each of these components results in an amount that the Company would be required to

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

transfer for a liability, or receive for an asset, to or from a willing buyer or seller, if one existed, for those market participants to assume the risks associated with the guaranteed benefits and the related reinsurance. However, the ultimate settlement amount of the asset or liability, which is currently unknown, could likely be significantly different than the fair value.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Company’s assets and liabilities that are carried at fair value by hierarchy levels (in thousands):



		December 31, 2016
		Total		Level 1		Level 2		Level 3
Assets
	Fixed maturities
	U.S. government securities	$	58,324	$	58,324	$	—	$	—
	Other government securities	5,344		—		5,344		—
	Public utilities	171,105		—		171,105		—
	Corporate securities	1,284,220		—		1,284,220		—
	Residential mortgage-backed	43,041		—		43,041		—
	Commercial mortgage-backed	206,229		—		206,229		—
	Other asset-backed securities	146,341		—		146,341		—
	Trading securities	144		144		—		—
	Reinsurance recoverable, net ⁽¹⁾	136,412		—		—		136,412
	Separate account assets	9,638,780		—		9,638,780		—
	Total	$	11,689,940	$	58,468	$	11,495,060	$	136,412

Liabilities
	Embedded derivative liability	$	132,987	$	—	$	—	$	132,987

		December 31, 2015
		Total		Level 1		Level 2		Level 3
Assets
	Fixed maturities
	U.S. government securities	$	61,578	$	61,578	$	—	$	—
	Public utilities	148,243		—		148,243		—
	Corporate securities	1,241,890		—		1,241,890		—
	Residential mortgage-backed	63,571		—		63,571		—
	Commercial mortgage-backed	232,444		—		232,398		46
	Other asset-backed securities	87,647		—		87,647		—
	Trading securities	532		532		—		—
	Reinsurance recoverable, net ⁽¹⁾	134,580		—		—		134,580
	Separate account assets	8,515,156		—		8,515,156		—
	Total	$	10,485,641	$	62,110	$	10,288,905	$	134,626

Liabilities
	Embedded derivative liability	$	129,386	$	—	$	—	$	129,386

⁽¹⁾ Represents only the components of reinsurance recoverable that are considered to be financial instruments, which arise from the GMWB and GMIB reinsurance agreements.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)

Level 3 Assets and Liabilities by Price Source

The table below presents the balances of Level 3 assets and liabilities measured at fair value with their corresponding pricing sources (in thousands).



	December 31, 2016
Assets	Total		Internal		External
Reinsurance recoverable, net⁽¹⁾	$	136,412	$	136,412	$	—

Liabilities
Embedded derivative liability	$	132,987	$	132,987	$	—

	December 31, 2015
Assets	Total		Internal		External
Commercial mortgage-backed	$	46	$	46	$	—
Reinsurance recoverable, net⁽¹⁾	134,580		134,580		—
Total	$	134,626	$	134,626	$	—

Liabilities
Embedded derivative liability	$	129,386	$	129,386	$	—

⁽¹⁾ Represents only the components of reinsurance recoverable that are considered to be financial instruments, which arise from the GMWB and GMIB reinsurance agreements.

Quantitative Information Regarding Internally-Priced Level 3 Assets and Liabilities

The table below presents quantitative information on significant internally-priced Level 3 assets and liabilities (in thousands).



	December 31, 2016
	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)	Impact of Increase in Input on Fair Value
Assets
Reinsurance recoverable, net ⁽¹⁾	$	136,412	Discounted cash flow	See below	See below	See below

Liabilities
Embedded derivative liability	$	132,987	Discounted cash flow	See below	See below	See below

	December 31, 2015
	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)	Impact of Increase in Input on Fair Value
Assets
Reinsurance recoverable, net ⁽¹⁾	$	134,580	Discounted cash flow	See below	See below	See below

Liabilities
Embedded derivative liability	$	129,386	Discounted cash flow	See below	See below	See below

⁽¹⁾ Represents only the components of reinsurance recoverable that are considered to be financial instruments, which arise from the GMWB and GMIB reinsurance agreements.

Sensitivity to Changes in Unobservable Inputs

The following is a general description of sensitivities of significant unobservable inputs and their impact on the fair value measurement, for the assets and liabilities reflected in the table above.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

At December 31, 2016 and 2015, commercial mortgage-backed securities of nil and $46 thousand, respectively, are fair valued using techniques incorporating unobservable inputs and are classified in Level 3 of the fair value hierarchy. For these assets, their unobservable inputs and ranges of possible inputs do not materially affect their fair valuations and have been excluded from the quantitative information in the table above.

The GMIB reinsurance recoverable fair value calculation is based on the present value of future cash flows comprised of future expected reinsurance benefit receipts, less future attributed premium payments to reinsurers, over the lives of the contracts. Estimating these cash flows requires actuarially determined assumptions related to expectations concerning policyholder behavior and long-term market volatility. The more significant policyholder behavior actuarial assumptions include benefit utilization, fund allocation, persistency, and mortality. In general, an increase (decrease) in assumed benefit utilization would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in allocation to equity funds would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in assumed persistency would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in assumed mortality would decrease (increase) the fair value of the reinsurance recoverable; and an increase (decrease) in long-term market volatility would increase (decrease) the fair value of the reinsurance recoverable.

Embedded derivative liabilities classified in Level 3 represent the fair value of GMWB liabilities. These fair value calculations are based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires actuarially determined assumptions related to expectations concerning policyholder behavior and long-term market volatility. The more significant policyholder behavior actuarial assumptions include benefit utilization, fund allocation, persistency, and mortality. In general, an increase (decrease) in assumed benefit utilization would increase (decrease) the fair value of the liabilities; an increase (decrease) in allocation to equity funds would increase (decrease) the fair value of the liabilities; an increase (decrease) in assumed persistency would increase (decrease) the fair value of the liabilities; an increase (decrease) in assumed mortality would decrease (increase) the fair value of the liabilities; and an increase (decrease) in long-term market volatility would increase (decrease) the fair value of the liabilities.

GMWB reinsurance recoverable fair value calculations are based on the assuming company’s share of the direct reserve, which is described above. The more significant actuarial assumptions include benefit utilization, fund allocation, persistency, mortality, and long-term market volatility. In general, an increase (decrease) in assumed benefit utilization would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in allocation to equity funds would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in assumed persistency would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in assumed mortality would decrease (increase) the fair value of the reinsurance recoverable; and an increase (decrease) in long-term market volatility would increase (decrease) the fair value of the reinsurance recoverable.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

The tables below provide rollforwards for 2016 and 2015 of the financial instruments for which significant unobservable inputs (Level 3) are used in the fair value measurement. Gains and losses in the table below include changes in fair value due partly to observable and unobservable factors. Additionally, the Company’s policy for determining and disclosing transfers between levels is to recognize transfers using the beginning of period balances.



					Total Realized/Unrealized Gains (Losses) Included in
											Purchases,
		Fair Value									Sales,					Fair Value
		as of						Other			Issuances			Transfers in		as of
		January 1,			Net			Comprehensive			and			and/or out		December 31,
(in thousands)		2016			Income			Income			Settlements			of Level 3		2016
Assets
	Commercial mortgage-backed	$	46		$	1,360		$	(46	)	$	(1,360	)	$	—	$	—
	Reinsurance recoverable, net⁽¹⁾	134,580			1,832			—			—			—		136,412

Liabilities
	Embedded derivative liability	$	(129,386	)	$	(3,601	)	$	—		$	—		$	—	$	(132,987	)

					Total Realized/Unrealized Gains (Losses) Included in
											Purchases,
		Fair Value									Sales,					Fair Value
		as of						Other			Issuances			Transfers in		as of
		January 1,			Net			Comprehensive			and			and/or out		December 31,
(in thousands)		2015			Income			Income			Settlements			of Level 3		2015
Assets
	Commercial mortgage-backed	$	46		$	(104	)	$	104		$	—		$	—	$	46
	Reinsurance (payable) recoverable, net ⁽¹⁾	114,699			19,881			—			—			—		134,580

Liabilities
	Embedded derivative asset (liability)	$	(107,729	)	$	(21,657	)	$	—		$	—		$	—	$	(129,386	)

	⁽¹⁾ Represents only the components of reinsurance recoverable that are considered to be financial instruments, which arise from the GMWB and GMIB reinsurance agreements.

The components of the amounts included in purchases, sales, issuances and settlements for years ended December 31, 2016 and 2015 shown above are as follows (in thousands):



		December 31, 2016
		Purchases		Sales			Issuances		Settlements		Total
Assets
	Commercial mortgage-backed	$	—	$	(1,360	)	$	—	$	—	$	(1,360	)

There were no transfers between Level 2 and Level 3 in 2016 or 2015. In addition, there were no transfers between Level 1 and 2 of the fair value hierarchy in 2016 or 2015.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

The portion of gains (losses) included in net income or other comprehensive income attributable to the change in unrealized gains and losses on Level 3 financial instruments still held at December 31, 2016 and 2015, was as follows (in thousands):



		2016			2015
Assets
	Reinsurance recoverable, net⁽¹⁾	$	1,832		$	19,881

Liabilities
	Embedded derivative liability	$	(3,601	)	$	(21,657	)

	⁽¹⁾ Represents only the components of reinsurance recoverable that are considered to be financial instruments, which arise from the GMWB and GMIB reinsurance agreements.

Fair Value of Financial Instruments Carried at Other Than Fair Value

The table below presents the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value (in thousands).



			December 31, 2016				December 31, 2015
		Fair Value Hierarchy Level	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
	Policy loans	Level 3	$	299	$	299	$	282	$	282
	Reinsurance recoverable, net ⁽¹⁾	Level 3	1,109,903		1,707,514		—		—

Liabilities
	Annuity reserves ⁽²⁾	Level 3	$	1,767,127	$	2,418,458	$	1,621,364	$	2,117,522
	Securities lending payable	Level 2	10,744		10,744		9,021		9,021
	Separate account liabilities ⁽³⁾	Level 2	9,638,780		9,638,780		8,515,156		8,515,156

	⁽¹⁾ Represents only the components of reinsurance recoverable that are considered to be financial instruments, which arise from the variable annuity general account reinsurance agreement.
	⁽²⁾ Annuity reserves represent only the components of other contract holder funds that are considered to be financial instruments.
	⁽³⁾ The values of separate account liabilities are set equal to the values of separate account values.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015


5.	Deferred Acquisition Costs and Deferred Sales Inducements

The balances of and changes in deferred acquisition costs, as of and for the years ended December 31, were as follows (in thousands):



				2016			2015			2014
Balance, beginning of year				$	359,229		$	297,583		$	244,983
	Deferrals of acquisition costs			68,482			83,978			88,201
	Amortization related to:
		Operations		(35,422		)	(47,196		)	(26,468		)
		Net realized losses (gains)		(1,669		)	92			(635		)
		DAC write off ⁽¹⁾		(340,964		)	—			—
			Total amortization	(378,055		)	(47,104		)	(27,103		)
	Unrealized investment losses (gains)			2,922			24,772			(8,498		)
Balance, end of year				$	52,578		$	359,229		$	297,583

⁽¹⁾ See Note 2 for description of Variable Annuity reinsurance agreement amendment.

The balances of and changes in deferred sales inducements, as of and for the years ended December 31, were as follows (in thousands):



				2016			2015			2014
Balance, beginning of year				$	5,486		$	5,661		$	7,403
	Deferrals of sales inducements			205			400			544
	Amortization related to:
		Operations		(2,779		)	(1,918		)	(2,582		)
		Net realized losses (gains)		47			3			(33		)
		SIA write off ⁽¹⁾		(743		)	—			—
			Total amortization	(3,475		)	(1,915		)	(2,615		)
	Unrealized investment losses			308			1,340			329
Balance, end of year				$	2,524		$	5,486		$	5,661

⁽¹⁾ See Note 2 for description of Variable Annuity reinsurance agreement amendment.


6.	Reinsurance

The Company cedes reinsurance to unaffiliated insurance companies in order to limit losses from large exposures; however, if the reinsurer is unable to meet its obligations, the originating issuer of the coverage retains the liability. The Company reinsures certain of its risks to other reinsurers under a yearly renewable term or coinsurance basis. The Company regularly monitors the financial strength rating of reinsurers.

As discussed in Note 2, Jackson-NY also cedes 90% of the risk associated with variable annuities to its Parent on a coinsurance/modified coinsurance basis.

Premiums ceded to Jackson for guaranteed minimum withdrawal benefits prior to the amendment effective December 31, 2016 were $84.9 million, $74.1 million, and $60.3 million in 2016, 2015, and 2014, respectively.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

The effect of reinsurance on premiums was as follows (in thousands):



	Years Ended December 31,
	2016			2015			2014
Direct premiums	$	337		$	373		$	423
Less reinsurance ceded:
Life	(226		)	(287		)	(359		)
Annuity	(117,039		)	(74,975		)	(61,208		)
Net premiums	$	(116,928	)	$	(74,889	)	$	(61,144	)

Death, other policy benefits, and change in policy reserves, net of deferrals, is net of change in GMWB reserves ceded of $4.8 million, $19.8 million, and $158.4 million in 2016, 2015, and 2014, respectively.

Components of the reinsurance recoverable were as follows (in thousands):



	December 31,
	2016		2015
Reinsurance recoverable:
Ceded reserves	$	1,262,662	$	139,238
Ceded claims liability	28,732		—
Ceded other	—		61
Total	$	1,291,394	$	139,299

Reinsurance recoverable from the Parent totaled $1,287.8 million and $119.1 million at December 31, 2016 and 2015, respectively.

The following table sets forth the Company’s net life insurance in-force (in thousands):



	December 31,
	2016			2015
Direct life insurance in-force	$	223,497		$	247,143
Amounts ceded to other companies	(170,472		)	(182,440		)
Net life insurance in-force	$	53,025		$	64,703


7.	Reserves for Future Policy Benefits and Claims Payable and Deposits on Investment Contracts

The following table sets forth the Company’s reserves for future policy benefits and claims payable balances (in thousands):



	December 31,
	2016		2015
Traditional life	$	2,211	$	2,303
Guaranteed benefits	149,799		144,290
Claims payable	41,167		39,238
Other	5		6
Total	$	193,182	$	185,837

For traditional life insurance contracts, which include term and whole life, reserves are determined using the net level premium method and assumptions as of the issue date or acquisition date as to mortality, interest rates, persistency and expenses, plus provisions for adverse deviation. These assumptions are not unlocked unless the reserve is determined to be deficient.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

The Company’s liability for future policy benefits also includes liabilities for guaranteed benefits related to certain nontraditional long-duration life and annuity contracts, which are further discussed in Note 8.

The following table sets forth the Company’s liabilities for deposits on investment contracts (in thousands):



	December 31,
	2016		2015
Interest-sensitive life	$	5,584	$	9,034
Variable annuity fixed option	1,233,226		1,070,213
Fixed annuity	579,415		590,497
Total	$	1,818,225	$	1,669,744

For interest-sensitive life contracts, liabilities approximate the policyholder’s account value. For fixed annuities, the liability is the policyholder’s account value. At December 31, 2016, the Company had interest sensitive life business with minimum guaranteed interest rates ranging from 3.0% to 4.0%, with a 3.98% average guaranteed rate and fixed interest rate annuities with minimum guaranteed rates ranging from 1.0% to 3.0% and a 2.03% average guaranteed rate.

At December 31, 2016 and 2015, approximately 95% and 97%, respectively, of the Company’s interest sensitive life business account values correspond to crediting rates that are at the minimum guaranteed interest rates.

At December 31, 2016 and 2015, approximately 89% and 88%, respectively, of the Company’s fixed interest rate annuity account values correspond to crediting rates that are at the minimum guaranteed interest rates. The following tables show the distribution of the fixed interest rate annuities’ account values within the presented ranges of minimum guaranteed interest rates (in millions):



	December 31, 2016
Minimum Guaranteed Interest Rate	Account Value
Minimum Guaranteed Interest Rate	Fixed		Variable		Total
1.0%	$	39.5	$	573.5	$	613.0
>1.0% - 2.0%	78.0		335.1		413.1
>2.0% - 3.0%	404.2		324.6		728.8
Total	$	521.7	$	1,233.2	$	1,754.9

	December 31, 2015
Minimum Guaranteed Interest Rate	Account Value
Minimum Guaranteed Interest Rate	Fixed		Variable		Total
1.0%	$	30.9	$	410.8	$	441.7
>1.0% - 2.0%	82.2		325.8		408.0
>2.0% - 3.0%	424.2		333.6		757.8
Total	$	537.3	$	1,070.2	$	1,607.5

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015


8.	Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees

The Company issues variable contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder (traditional variable annuities). The Company also issues variable annuity and life contracts through separate accounts where the Company contractually guarantees to the contract holder (variable contracts with guarantees) either a) return of no less than total deposits made to the account adjusted for any partial withdrawals, b) total deposits made to the account adjusted for any partial withdrawals plus a minimum return, or c) the highest account value on a specified anniversary date adjusted for any withdrawals following the contract anniversary. These guarantees include benefits that are payable in the event of death (GMDB), at annuitization (GMIB) or upon the depletion of funds (GMWB).

The assets supporting the variable portion of both traditional variable annuities and variable contracts with guarantees are carried at fair value and reported as summary total separate account assets with an equivalent summary total reported for separate account liabilities. Liabilities for guaranteed benefits are general account obligations and are reported in reserves for future policy benefits and claims payable. Amounts assessed against the contract holders for mortality, administrative, and other services are reported in revenue as fee income. Changes in liabilities for minimum guarantees are reported within death, other policy benefits and change in policy reserves in the income statement. Separate account net investment income, net investment gains and losses, and the related liability changes are offset within the same line item in the income statements.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

At December 31, 2016 and 2015, the Company provided variable annuity contracts with guarantees, for which the net amount at risk (“NAR”) is defined as the amount of guaranteed benefit in excess of current account value, as follows (dollars in millions):



								Average
								Period
							Weighted	until
December 31, 2016		Minimum	Account		Net Amount		Average	Expected
		Return	Value		at Risk		Attained Age	Annuitization
Return of net deposits plus a minimum return
	GMDB	0%	$	6,924.6	$	89.9	64.8 years
	GMWB - Premium only	0%	209.0		3.1
	GMWB	0-5%*	20.3		1.0
Highest specified anniversary account value minus withdrawals post-anniversary
	GMDB		1,614.0		52.3		65.4 years
	GMWB - Highest anniversary only		199.0		8.2
	GMWB		43.4		4.2
Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
	GMIB	0-6%	95.4		31.5			0.5 years
	GMWB	0-8%*	6,932.5		723.5


								Average
								Period
							Weighted	until
December 31, 2015		Minimum	Account		Net Amount		Average	Expected
		Return	Value		at Risk		Attained Age	Annuitization
Return of net deposits plus a minimum return
	GMDB	0%	$	6,173.3	$	145.7	64.5 years
	GMWB - Premium only	0%	219.7		4.8
	GMWB	0-5%*	21.6		1.1
Highest specified anniversary account value minus withdrawals post-anniversary
	GMDB		1,478.9		108.6		65.0 years
	GMWB - Highest anniversary only		202.8		17.6
	GMWB		48.2		6.6
Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
	GMIB	0-6%	105.5		34.4			0.4 years
	GMWB	0-8%*	6,123.8		720.1

* Ranges shown based on simple interest. The upper limits of 5% or 8% simple interest are approximately equal to 4.1% and 6%, respectively, on a compound interest basis over a typical 10-year bonus period.

Amounts shown as GMWB above include a ‘not-for-life’ component up to the point at which the guaranteed withdrawal benefit is exhausted, after which benefits paid are considered to be ‘for-life’ benefits. The liability related to this ‘not-for-life’ portion is valued as an embedded derivative, while the ‘for-life’ benefits are valued as an insurance liability (see below). For this table, the net amount at risk of the ‘not-for-life’ component is the undiscounted excess of the guaranteed withdrawal benefit over the account value, and that of the ‘for-life’ component is the estimated value of additional life contingent benefits paid after the guaranteed withdrawal benefit is exhausted.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

Account balances of contracts with guarantees were invested in variable separate accounts as follows (in millions):



	December 31,
Fund type:	2016		2015
Equity	$	5,851.3	$	5,187.4
Bond	1,161.8		1,066.9
Balanced	1,384.8		1,284.7
Money market	50.9		46.8
Total	$	8,448.8	$	7,585.8

GMDB liabilities reflected in the general account were as follows (in millions):



	2016			2015
Balance at January 1	$	11.0		$	29.9
Incurred guaranteed benefits	3.0			(16.7		)
Paid guaranteed benefits	(2.7		)	(2.2		)
Balance at December 31	$	11.3		$	11.0

The GMDB liability is determined by estimating the expected value of death benefits in excess of the projected account balance and recognizing the excess ratably over the accumulation period based on total expected assessments. The Company regularly evaluates estimates used and adjusts the liability balance through the income statement within death, other policy benefits and change in policy reserves, if actual experience or other evidence suggests that earlier assumptions should be revised.

The following assumptions and methodology were used to determine the GMDB liability at both December 31, 2016 and 2015 (except where noted):


1)	Use of a series of stochastic investment performance scenarios, based on historical average market volatility.


2)	Mean investment performance assumption of 7.4% after investment management fees, but before investment advisory fees and mortality and expense charges.


3)	Mortality equal to 36% to 100% of the Annuity 2000 table.


4)	Lapse rates varying by contract type, duration and degree the benefit is in-the-money and ranging from 0.5% to 40.0%, with an average of 3.7% during the surrender charge period and 7.8% thereafter (2015: 8.0%).


5)	Discount rates: 7.4% on 2013 and later issues, 8.4% on 2012 and prior issues

Most GMWB reserves are considered to be derivatives under current accounting guidance and are recognized at fair value, as previously defined, with the change in fair value reported in death, other policy benefits and change in policy reserves. The fair value of these liabilities is determined using stochastic modeling and inputs as further described in Note 4. The fair valued GMWB had a reserve liability of $133.0 million and $129.4 million at December 31, 2016 and 2015, respectively, and was reported in reserves for future policy benefits and claims payable.

Jackson-NY has also issued certain GMWB products that guarantee payments over a lifetime. Reserves for the portion of these benefits after the point where the guaranteed withdrawal balance is exhausted are calculated using assumptions and methodology similar to the GMDB liability. At December 31, 2016 and 2015, these GMWB reserves totaled $4.7 million and $3.0 million, respectively, and were reported in reserves for future policy benefits and claims payable.

The direct GMIB liability is determined at each period end by estimating the expected value of the annuitization benefits in excess of the projected account balance at the date of annuitization and recognizing the excess ratably over the accumulation period based on total expected assessments. The assumptions used for calculating the direct GMIB liability are consistent with those used for calculating the GMDB liability. At December 31, 2016 and 2015, GMIB reserves totaled $0.8 million and $0.9 million, respectively.

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015


9.	Federal Income Taxes

The components of the provision for federal income taxes were as follows (in thousands):



	Years Ended December 31,
	2016			2015			2014
Current tax (benefit) expense	$	(4,923	)	$	(415	)	$	13,664
Deferred tax (benefit) expense	(107,707		)	10,816			(3,328		)
Income tax (benefit) expense	$	(112,630	)	$	10,401		$	10,336

The federal income tax provisions differ from the amounts determined by multiplying pre-tax income by the statutory federal income tax rate of 35% for 2016, 2015, and 2014 as follows (in thousands):



	Years Ended December 31,
	2016			2015			2014
Income taxes at statutory rate	$	(91,296	)	$	25,997		$	16,547
Dividends received deduction	(21,360		)	(15,625		)	(6,238		)
Other	26			29			27
Income tax (benefit) expense	$	(112,630	)	$	10,401		$	10,336

Effective tax rate	43.2		%	14.0		%	21.9		%

Federal income taxes (received) paid to Jackson in 2016, 2015, and 2014 were $(3.5) million, $2.8 million and $8.9 million, respectively.

The tax effects of significant temporary differences that gave rise to deferred tax assets and liabilities were as follows (in thousands):



	December 31,
	2016			2015
Gross deferred tax asset
Difference between financial reporting and the tax basis of:
Policy reserves and other insurance items	$	12,550		$	92,851
Deferred gain on reinsurance	85,090			99
Other, net	4,188			11,019
Total gross deferred tax asset	101,828			103,969

Gross deferred tax liability
Difference between financial reporting and the tax basis of:
Deferred acquisition costs and sales inducements	(8,681		)	(118,840		)
Net unrealized gains on available for sale securities	(6,782		)	(8,546		)
Other investment items	(1,007		)	(694		)
Total gross deferred tax liability	(16,470		)	(128,080		)

Net deferred tax asset (liability)	$	85,358		$	(24,111	)

The Company is required to evaluate the recoverability of its deferred tax assets and establish a valuation allowance, if necessary, to reduce its deferred tax asset to an amount that is more likely than not to be realizable. Considerable judgment and the use of estimates are required when determining whether a valuation allowance is necessary and, if so, the amount of such valuation allowance. When evaluating the need for a valuation allowance, the Company considers many factors, including: the nature and character of the deferred tax assets and liabilities; taxable income in prior carryback years; future reversals of temporary differences; the length of time carryovers can be utilized; and any

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

tax planning strategies the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes as of December 31, 2016, it is more likely than not that the deferred tax assets, will be realized. At December 31, 2016 and 2015, the Company did not have a valuation allowance.

The Company has considered both permanent and temporary positions in determining the unrecognized tax benefit rollforward. The total amount of unrecognized benefits represents tax positions for which there is uncertainty about the timing of certain deductions. The timing of such deductions would not affect the annual effective tax rate, excluding the impact of interest and penalties.

The Company has not recorded any amounts for penalties related to unrecognized tax benefits during 2016, 2015, or 2014.

Based on information available as of December 31, 2016, the Company believes that, in the next 12 months, there are no positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease.


10.	Contingencies

The Company has previously received regulatory inquiries on an industry-wide matter relating to claims settlement practices and compliance with unclaimed property laws. Any regulatory audits, related examination activity and internal reviews as a result of these inquiries may result in additional payments to beneficiaries, escheatment of funds deemed abandoned under state laws, administrative penalties and changes in the Company’s procedures for the identification of unreported claims and handling of escheatable property.

In 2013, the Company recorded $6.4 million ($4.2 million after-tax) for potential additional tax liability related to a franchise/premium tax audit by the state of New York. In June 2014, the state of New York formally conceded the issue in the Company’s favor, the expense was reversed, and the matter was closed.


11.	Statutory Accounting Capital and Surplus

The Company is required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the insurance department of the state of domicile. Statutory accounting practices primarily differ from GAAP by charging policy acquisition costs to expense as incurred and establishing future policy benefit liabilities using different actuarial assumptions, as well as valuing investments and certain assets and accounting for deferred income taxes on a different basis.

The declaration of dividends that can be paid by the Company is regulated by New York Insurance Law. The Company must file a notice of its intention to declare a dividend and the amount thereof with the Superintendent at least thirty days in advance of any proposed dividend declaration. Dividends are only payable out of earned surplus. The Company had no earned surplus at December 31, 2016 or 2015. No dividends were paid to Jackson in 2016, 2015, or 2014. No capital contributions were received in 2016, 2015, or 2014.

Statutory capital and surplus of the Company, as reported in its Annual Statement, was $475.7 million and $443.5 million at December 31, 2016 and 2015, respectively. Statutory net income of the Company, as reported in its Annual Statement, was $23.6 million, $30.7 million, and $32.7 million in 2016, 2015, and 2014, respectively.

The state of New York has prescribed a Continuous CARVM reserve basis for New York domiciled companies. This reserve basis differs from the Curtate CARVM reserve basis required by The National Association of Insurance Commissioners’ Accounting Practices and Procedures Manual (“NAIC SAP”). If the Company’s reserves were valued in accordance with NAIC SAP, statutory capital and surplus would be increased by $4.1 million and $28.2 million at December 31, 2016 and 2015, respectively, and net income would be (decreased) increased by $(24.1) million, $5.3 million and $2.6 million, in 2016, 2015 and 2014, respectively.

The NAIC has developed certain risk-based capital (“RBC”) requirements for life insurance companies. Under those requirements, compliance is determined by a ratio of a company’s total adjusted capital (“TAC”), calculated in a

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

manner prescribed by the NAIC to its authorized control level RBC (“ACL RBC”), calculated in a manner prescribed by the NAIC. Companies below specific trigger points or ratios are classified within certain levels, each of which requires specified corrective action. The minimum level of TAC before corrective action commences is twice ACL RBC (“Company action level RBC”). At December 31, 2016 the Company’s TAC was more than 1,200% of the Company action level RBC.


12.	Other Related Party Transactions

The Company's investment portfolio is managed by PPM America, Inc. (“PPM”), a registered investment advisor and ultimately a wholly owned subsidiary of Prudential. The Company paid $1.5 million, $1.4 million, and $1.4 million to PPM for investment advisory services during 2016, 2015, and 2014.

The Company has an administrative services agreement with Jackson, under which Jackson provides certain administrative services. Administrative fees were $19.1 million, $15.1 million, and $12.9 million in 2016, 2015, and 2014, respectively.

The Company has an administrative services agreement with Jackson National Life Distributors, LLC (“JNLD”), a subsidiary of Jackson, under which JNLD provides certain marketing services. Administrative fees were $4.2 million, $4.1 million, and $4.2 million in 2016, 2015, and 2014, respectively.

As a result of the reinsurance agreement, the net payment of $905.9 million was reported as a payable to parent.


13.	Benefit Plans

The Company participates in a defined contribution retirement plan covering substantially all employees, sponsored by its Parent. To be eligible to participate in the Company’s contribution, an employee must have attained the age of 21, completed at least 1,000 hours of service in a 12-month period and passed their 12-month employment anniversary. In addition, the employees must be employed on the applicable January 1 or July 1 entry date. The Company’s annual contributions are based on a percentage of eligible compensation paid to participating employees during the year. In addition, the Company matches a participant’s elective contribution, up to 6 percent of eligible compensation, to the plan during the year. The Company’s expense related to this plan was $0.3 million in 2016, 2015, and 2014.

The Company maintains non-qualified voluntary deferred compensation plans for certain employees, sponsored by its Parent. Additionally, the Company sponsors a non-qualified voluntary deferred compensation plan for certain agents, with the assets retained by Jackson under an administrative services agreement. At December 31, 2016 and 2015, Jackson’s liability for the Company’s portion of such plans totaled $4.9 million and $4.5 million, respectively. There were no expenses related to these plans in 2016, 2015 or 2014.


14.	Reclassifications Out of Accumulated Other Comprehensive Income

The following table represents changes in the balance of AOCI, net of income tax, related to unrealized investment gains (losses) (in thousands):



	December 31,
	2016			2015			2014
Balance, beginning of year	$	23,442		$	45,789		$	38,636
OCI before reclassifications	(610		)	(20,971		)	9,030
Amounts reclassified from AOCI	(2,665		)	(1,376		)	(1,877		)
Balance, end of year	$	20,167		$	23,442		$	45,789

Jackson National Life Insurance Company of New York

(a wholly owned subsidiary of Jackson National Life Insurance Company)

Notes to Financial Statements

December 31, 2016 and 2015

The following table represents amounts reclassified out of AOCI (in thousands):



AOCI Components	Amounts Reclassified from AOCI									Affected Line Item in the Income Statement
	December 31,
	2016			2015			2014
Net unrealized investment loss:
Net realized loss on investments	$	(3,278	)	$	(1,938	)	$	(2,547	)	Other net investment losses
Other-than-temporary impairments	(822		)	(179		)	(341		)	Total other-than-temporary impairments
Net unrealized loss, before income taxes	(4,100		)	(2,117		)	(2,888		)
Income tax benefit	1,435			741			1,011
Reclassifications, net of income taxes	$	(2,665	)	$	(1,376	)	$	(1,877	)

PART C

OTHER INFORMATION

Item 24. Financial Statements and Exhibits

(a) Financial Statements:

(1) Financial statements and schedules included in Part A:

Not Applicable.

(2) Financial statements and schedules included in Part B:

JNLNY Separate Account II:

Report of Independent Registered Public Accounting Firm

Statements of Assets and Liabilities as of December 31, 2016

Statements of Operations for the period ended December 31, 2016

Statements of Changes in Net Assets for the periods ended December 31, 2016, and 2015

Notes to Financial Statements

Jackson National Life Insurance Company of New York:

Report of Independent Registered Public Accounting Firm

Consolidated Balance Sheets as of December 31, 2016, and 2015

Consolidated Income Statements for the years ended December 31, 2016, 2015, and 2014

Consolidated Statements of Stockholder's Equity and Comprehensive Income for the years ended December 31, 2016, 2015, and 2014

Consolidated Statements of Cash Flows for the years ended December 31, 2016, 2015, and 2014

Notes to Consolidated Financial Statements

(b) Exhibits

Exhibit Description

No.


1.	Resolution of Depositor's Board of Directors authorizing the establishment of the Registrant, incorporated herein by reference to the Registrant’s Form N-4 filed on September 10, 1999 (File Nos. 333-86933 and 811-09577).


2.	Not Applicable.


a.	General Distributor Agreement, incorporated herein by reference to the Registrant’s Form N-4 electronically filed on September 10, 1999 (File Nos. 333-86933 and 811-09577).


b.	Amended and Restated General Distributor Agreement dated October 25, 2005, incorporated herein by reference to the Post-Effective Amendment No. 21 filed on December 29, 2005 (File Nos. 333-70472 and 811-08664).


c.	Specimen of Selling Agreement (N2565 01/12), incorporated herein by reference to the Post-Effective Amendment No. 1, filed on April 25, 2012 (File Nos. 333-175720 and 811-08401).


d.	Specimen of Selling Agreement (N2565 08/12), incorporated herein by reference to the Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183046 and 811-08401).


e.	Amended and Restated General Distributor Agreement dated June 1, 2006, incorporated herein by reference to the Registration Statement filed on August 10, 2006 (File Nos. 333-136472 and 811-08664).


f.	Specimen of Selling Agreement (N2565 06/14), incorporated herein by reference to Post-Effective Amendment No. 13, filed on September 11, 2014 (File Nos. 333-183046 and 811-08401).


a.	Specimen of the Perspective Advisors Fixed and Variable Annuity Contract, incorporated herein by reference to the Registrant’s Pre-Effective Amendment No. 1 filed on December 21, 1999 (File Nos. 333-86933 and 811-09577).


b.	Form of the Perspective Advisors Fixed and Variable Annuity Contract (Unisex Tables), incorporated herein by reference to the Registrant’s Pre-Effective Amendment No. 1 filed on December 21, 1999 (File Nos. 333-86933 and 811-09577).


c.	Form of the Perspective Advisors Fixed and Variable Annuity Contract, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 3 filed on October 10, 2001 (File Nos. 333-86933 and 811-09577).


d.	Form of Spousal Continuation Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 3 filed on October 10, 2001 (File Nos. 333-86933 and 811-09577).


e.	Form of Preselected Death Benefit Option Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 4 filed on April 30, 2002 (File Nos. 333-86933 and 811-09577).


f.	Form of Guaranteed Options Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 7 filed on April 30, 2003 (File Nos. 333-86933 and 811-09577).


g.	Specimen of 5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 13, filed on April 27, 2007 (File Nos. 333-86933 and 811-09577).


h.	Specimen of 5% Guaranteed Minimum Withdrawal Benefit Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 13, filed on April 27, 2007 (File Nos. 333-86933 and 811-09577).


i.	Specimen of the 7% Guaranteed Minimum Withdrawal Benefit With 5 Year Step-Up Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 13, filed on April 27, 2007 (File Nos. 333-86933 and 811-09577).


j.	Specimen of the 6% Guaranteed Minimum Withdrawal Benefit With Annual Step-up Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 13, filed on April 27, 2007 (File Nos. 333-86933 and 811-09577).


k.	Specimen of the For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 13, filed on April 27, 2007 (File Nos. 333-86933 and 811-09577).


l.	Specimen of the Joint For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 13, filed on April 27, 2007 (File Nos. 333-86933 and 811-09577).


m.	Specimen of the 5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-up Endorsement, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 13, filed on April 27, 2007 (File Nos. 333-86933 and 811-09577).


n.	Specimen of 5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 28 filed on November 28, 2007 (File Nos. 333-70384 and 811-08401).


o.	Specimen of 6% Guaranteed Minimum Withdrawal Benefit With Annual Step-up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 28 filed on November 28, 2007 (File Nos. 333-70384 and 811-08401).


p.	Specimen of 5% For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 28 filed on November 28, 2007 (File Nos. 333-70384 and 811-08401).


q.	Specimen of For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 28 filed on November 28, 2007 (File Nos. 333-70384 and 811-08401).


r.	Specimen of Joint For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 28 filed on November 28, 2007 (File Nos. 333-70384 and 811-08401).


s.	Specimen of Guaranteed Minimum Withdrawal Benefit with 5- Year Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 46, filed on December 27, 2007 (File Nos. 333-70472 and 811-08664).


t.	Specimen of the For Life GMWB With Bonus and Annual Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 46, filed on December 27, 2007 (File Nos. 333-70472 and 811-08664).


u.	Specimen of the Joint For Life GMWB With Bonus and Annual Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 46, filed on December 27, 2007 (File Nos. 333-70472 and 811-08664).


v.	Specimen of the Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 34, filed on October 3, 2008 (File Nos. 333-70384 and 811-08401).


w.	Specimen of the For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up Endorsement, incorporated herein by reference to the Post-Effective Amendment No. 34, filed on October 3, 2008 (File Nos. 333-70384 and 811-08401).


x.	Specimen of the For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up (Freedom) Endorsement (7587ANY-A 01/09), incorporated herein by reference to the Post-Effective Amendment No. 19, filed on December 31, 2008 (File Nos. 333-86933 and 811-08401).


y.	Specimen of the Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up (Joint Freedom) Endorsement (7588ANY-A 01/09), incorporated herein by reference to the Post-Effective Amendment No.19, filed on December 31, 2008 (File Nos. 333-86933 and 811-08401).


z.	Specimen of the For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up (LifeGuard Freedom 6(SM) GMWB) Endorsement (7613 09/09), incorporated herein by reference to the Post-Effective Amendment No.21 filed September 24, 2009 (File Nos. 333-86933 and 811-08401).


aa.	Specimen of the Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus and Annual Step-Up (LifeGuard Freedom 6 GMWB With Joint Option) Endorsement (7614 09/09), incorporated herein by reference to the Post-Effective Amendment No. 21 filed September 24, 2009 (File Nos. 333-86933 and 811-08401).


bb.	Form of Defense of Marriage Act Endorsement (7718NY), incorporated herein by reference to the Post-Effective Amendment No. 8, filed on September 12, 2013 (File Nos. 333-183046 and 811-08401).


a.	Form of the Perspective Advisors Fixed and Variable Annuity Application, incorporated herein by reference to the Registrant’s Pre-Effective Amendment No. 1 filed on December 21, 1999 (File Nos. 333-86933 and 811-09577).


b.	Form of the Perspective Advisors Fixed and Variable Annuity Application, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 3 filed on October 10, 2001 (File Nos. 333-86933 and 811-09577).


c.	Form of the Perspective Advisors Fixed and Variable Annuity Application, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 7 filed on April 30, 2004 (File Nos. 333-86933 and 811-09577).


d.	Form of the Perspective Advisors Fixed and Variable Annuity Application, incorporated herein by reference to the Registrant’s Post-Effective Amendment No. 17 filed on March 26, 2008 (File Nos. 333-86933 and 811-09577).


a.	Declaration and Charter of Depositor, incorporated herein by reference to the Registrant’s Form N-4 filed on September 10, 1999 (File Nos. 333-86933 and 811-09577).


b.	Bylaws of Depositor, incorporated herein by reference to the Registrant’s Form N-4 filed on September 10, 1999 (File Nos. 333-86933 and 811-09577).


c.	Amended By-Laws of Jackson National Life Insurance Company of New York, incorporated herein by reference to the Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183046 and 811-08401).


a.	Reinsurance Agreement Effective December 31, 2008 between Jackson National Life Insurance Company of New York ("Ceding Company") and Jackson National Life Insurance Company ("Reinsurer"), incorporated herein by reference to the Post-Effective Amendment No. 8, filed on September 12, 2013 (File Nos. 333-183046 and 811-08401).


b.	Amendment No. 1 to the Reinsurance Agreement Effective December 31, 2008 between Jackson National Life Insurance Company of New York ("Ceding Company") and Jackson National Life Insurance Company ("Reinsurer"), with effective date June 30, 2013, incorporated herein by reference to the Post-Effective Amendment No. 8, filed on September 12, 2013 (File Nos. 333-183046 and 811-08401).


8.	Amended and Restated Administrative Services Agreement between Jackson National Asset Management, LLC and Jackson National Life Insurance Company, incorporated herein by reference to the Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).


9.	Opinion and Consent of Counsel, attached hereto.


10.	Consent of Independent Registered Public Accounting Firm, attached hereto.


11.	Not Applicable.


12.	Not Applicable.

Item 25. Directors and Officers of the Depositor



Name and Principal Business Address	Positions and Offices with Depositor

R. Kevin Clinton	Director
Michigan State University
C337 Wells Hall
619 Red Cedar Road
East Lansing, MI 48824

John C. Colpean	Director
1640 Haslett Road, Suite 160
Haslett, MI 48840

Donald B. Henderson, Jr.	Director
Willkie Farr & Gallagher LLP 787 Seventh Ave., Suite 4020
New York, NY 10019-6099

James R. Sopha	President
1 Corporate Way
Lansing, MI 48951

P. Chad Myers	Executive Vice President & Chief Financial Officer
1 Corporate Way
Lansing, MI 48951

Gregory P. Cicotte	Executive Vice President, Chief Distribution Officer & Director
300 Innovation Drive
Franklin, TN 37067

Herbert G. May, III	Chief Administrative Officer & Director
75 Second Avenue



Suite 605
Needham, MA 02494

Andrew J. Bowden	Senior Vice President, General Counsel & Secretary
1 Corporate Way
Lansing, MI 48951

Savvas (Steve) P. Binioris	Senior Vice President
1 Corporate Way
Lansing, MI 48951

Michael A. Costello	Senior Vice President, Controller, Treasurer & Director
1 Corporate Way
Lansing, MI 48951

Julia A. Goatley	Senior Vice President
1 Corporate Way
Lansing, MI 48951

Bradley O. Harris	Senior Vice President & Chief Risk Officer
300 Innovation Drive
Franklin, TN 37067

Thomas P. Hyatte	Senior Vice President
1 Corporate Way
Lansing, MI 48951

Machelle A. McAdory	Senior Vice President & Chief Human Resource Officer
1 Corporate Way
Lansing, MI 48951

Keith R. Moore	Senior Vice President & Chief Technology Officer
1 Corporate Way
Lansing, MI 48951

Emilio Pardo	Senior Vice President & Chief Marketing and Communications Officer
300 Innovation Drive
Franklin, TN 37067

Laura L. Prieskorn	Senior Vice President
1 Corporate Way
Lansing, MI 48951

Kenneth H. Stewart	Senior Vice President
1 Corporate Way
Lansing, MI 48951

Marcia L. Wadsten	Senior Vice President, Chief Actuary & Appointed Actuary
1 Corporate Way



Lansing, MI 48951

Bonnie G. Wasgatt	Senior Vice President & Chief Information Officer
1 Corporate Way
Lansing, MI 48951

Marina C. Ashiotou	Vice President
225 W. Wacker Drive
Suite 1200
Chicago, IL 60606

Michele M. Binkley	Vice President
1 Corporate Way
Lansing, MI 48951

Dennis A. Blue	Vice President
1 Corporate Way
Lansing, MI 48951

Barrett M. Bonemer	Vice President
1 Corporate Way
Lansing, MI 48951

Pamela L. Bottles	Vice President
1 Corporate Way
Lansing, MI 48951

David L. Bowers	Vice President
300 Innovation Drive
Franklin, TN 37067

David A. Collins	Vice President, Deputy Chief Risk Officer & Director
1 Corporate Way
Lansing, MI 48951

Robert H. Dearman, Jr.	Vice President
1 Corporate Way
Lansing, MI 48951

William T. Devanney, Jr.	Vice President
1 Corporate Way
Lansing, MI 48951

Charles F. Field, Jr.	Vice President
300 Innovation Drive
Franklin, TN 37067

Dana R. Malesky Flegler	Vice President
1 Corporate Way



Lansing, MI 48951

Lisa I. Fox	Vice President
300 Innovation Drive
Franklin, TN 37067

Devkumar D. Ganguly	Vice President
1 Corporate Way
Lansing, MI 48951

Guillermo E. Guerra	Vice President & Corporate Information Security Officer
1 Corporate Way
Lansing, MI 48951

Robert W. Hajdu	Vice President
1 Corporate Way
Lansing, MI 48951

Laura L. Hanson	Vice President & Director
1 Corporate Way
Lansing, MI 48951

Robert L. Hill	Vice President
1 Corporate Way
Lansing, MI 48951

Julie A. Hughes	Vice President
1 Corporate Way
Lansing, MI 48951

Matthew T. Irey	Vice President
1 Corporate Way
Lansing, MI 48951

Thomas A. Janda	Vice President
1 Corporate Way
Lansing, MI 48951

Scott F. Klus	Vice President
1 Corporate Way
Lansing, MI 48951

Toni L. Klus	Vice President
1 Corporate Way
Lansing, MI 48951

Matthew F. Laker	Vice President
300 Innovation Drive
Franklin, TN 37067




Richard C. Liphardt	Vice President
1 Corporate Way
Lansing, MI 48951

Wayne R. Longcore	Vice President
1 Corporate Way
Lansing, MI 48951

Diahn M. McHenry	Vice President
1 Corporate Way
Lansing, MI 48951

Ryan T. Mellott	Vice President
1 Corporate Way
Lansing, MI 48951

Dana S. Rapier	Vice President
1 Corporate Way
Lansing, MI 48951

Stacey L. Schabel	Vice President
1 Corporate Way
Lansing, MI 48951

James A. Schultz	Vice President
1 Corporate Way
Lansing, MI 48951

William R. Schulz	Vice President
1 Corporate Way
Lansing, MI 48951

Muhammad S. Shami	Vice President
1 Corporate Way
Lansing, MI 48951

Michael D. Story	Vice President
1 Corporate Way
Lansing, MI 48951

Heather R. Strang	Vice President & Director
1 Corporate Way
Lansing, MI 48951

Marion C. Terrell II	Vice President
1 Corporate Way
Lansing, MI 48951



Brian M. Walta	Vice President
1 Corporate Way
Lansing, MI 48951

Item 26. Persons Controlled by or Under Common Control with the Depositor or Registrant.

The Registrant is a separate account of Jackson National Life Insurance Company of New York (“Depositor”), a stock life insurance company organized under the laws of the state of New York. The Depositor is a wholly owned subsidiary of Jackson National Life Insurance Company and is ultimately a wholly owned subsidiary of Prudential plc (London, England), a publicly traded life insurance company in the United Kingdom.

The following organizational chart for Prudential plc indicates those persons who are controlled by or under common control with the Depositor. No person is controlled by the Registrant.

The organizational chart for Prudential plc is incorporated herein by reference to Exhibit 26 of Post-Effective Amendment No. 10, filed on April 18, 2017 (File Nos. 333-183050 and 811-08664).

Item 27. Number of Contract Owners as of February 28, 2017

Perspective Advisors Contracts:

Qualified - 10

Non-qualified - 15

Item 28. Indemnification

Provision is made in the Company's By-Laws for indemnification by the Company of any person made or threatened to be made a party to an action or proceeding, whether civil or criminal by reason of the fact that he or she is or was a director, officer or employee of the Company or then serves or has served any other corporation in any capacity at the request of the Company, against expenses, judgments, fines and amounts paid in settlement to the full extent that officers and directors are permitted to be indemnified by the laws of the State of New York.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 ("Act") may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

Item 29. Principal Underwriter

(a)

Jackson National Life Distributors LLC acts as general distributor for the JNLNY Separate Account II. Jackson National Life Distributors LLC also acts as general distributor for the Jackson National Separate Account - I, the Jackson National Separate Account III, the Jackson National Separate Account IV, the Jackson National Separate Account V, the JNLNY Separate Account I, the JNLNY Separate Account IV, the Jackson Sage Variable Annuity Account A, the Jackson Sage Variable Life Account A, the Jackson SWL Variable Annuity Fund I, the JNL Series Trust, JNL Variable Fund LLC, JNL Investors Series Trust, and Jackson Variable Series Trust.


(b)	Directors and Officers of Jackson National Life Distributors LLC:



Name and Business Address	Positions and Offices with Underwriter

James R. Sopha	Chairman & Manager
1 Corporate Way
Lansing, MI 48951

Steve P. Binioris	Manager
1 Corporate Way
Lansing, MI 48951

Bradley O. Harris	Manager
300 Innovation Drive
Franklin, TN 37067

Emilio Pardo	Manager
300 Innovation Drive
Franklin, TN 37067

Heather R. Strang	Manager
1 Corporate Way
Lansing, MI 48951

Gregory P. Cicotte	President, Chief Executive Officer & Manager
300 Innovation Drive
Franklin, TN 37067

Scott Golde	General Counsel
1 Corporate Way
Lansing, MI 48951

Maura Collins	Executive Vice President, Chief Financial Officer & FinOp
7601 Technology Way
Denver, CO 80237

John Poulsen	Executive Vice President, Sales Strategy
300 Innovation Drive
Franklin, TN 37067

Alison Reed	Executive Vice President, Operations
7601 Technology Way
Denver, CO 80237

Marc Socol	Executive Vice President, National Sales Manager
7601 Technology Way
Denver, CO 80237

Tori Bullen	Senior Vice President
7601 Technology Way
Denver, CO 80237




Elizabeth Griffith	Senior Vice President
300 Innovation Drive
Franklin, TN 37067

Thomas Hurley	Senior Vice President
7601 Technology Way
Denver, CO 80237

Doug Mantelli	Senior Vice President
7601 Technology Way
Denver, CO 80237

Timothy McDowell	Senior Vice President & Chief Compliance Officer
7601 Technology Way
Denver, CO 80237

Daniel Starishevsky	Senior Vice President
7601 Technology Way
Denver, CO 80237

Brian Sward	Senior Vice President
7601 Technology Way
Denver, CO 80237

Robin Tallman	Vice President & Controller
7601 Technology Way
Denver, CO 80237

Stephen M. Ash	Vice President
7601 Technology Way
Denver, CO 80237

Jeffrey Bain	Vice President
7601 Technology Way
Denver, CO 80237

Brad Baker	Vice President
7601 Technology Way
Denver, CO 80237

Erin Balcaitis	Vice President
7601 Technology Way
Denver, CO 80237

Richard Catts	Vice President
7601 Technology Way
Denver, CO 80237



Court Chynces	Vice President
7601 Technology Way
Denver, CO 80237

Christopher Cord	Vice President
7601 Technology Way
Denver, CO 80237

Justin Fitzpatrick	Vice President
7601 Technology Way
Denver, CO 80237

Mark Godfrey	Vice President
7601 Technology Way
Denver, CO 80237

Ashley Golson	Vice President
300 Innovation Drive
Franklin, TN 37067

Luis Gomez	Vice President
7601 Technology Way
Denver, CO 80237

Kelli Hill	Vice President
7601 Technology Way
Denver, CO 80237

Mark Jones	Vice President
7601 Technology Way
Denver, CO 80237

Tamu McCreary	Vice President
7601 Technology Way
Denver, CO 80237

Jennifer Meyer	Vice President
7601 Technology Way
Denver, CO 80237

Peter Meyers	Vice President
7601 Technology Way
Denver, CO 80237

Steven O’Connor	Vice President
7601 Technology Way
Denver, CO 80237

Allison Pearson	Vice President



7601 Technology Way
Denver, CO 80237

Jeremy D. Rafferty	Vice President
7601 Technology Way
Denver, CO 80237

Marilynn Scherer	Vice President
7601 Technology Way
Denver, CO 80237

Melissa Sommer	Vice President
7601 Technology Way
Denver, CO 80237

Ryan Strauser	Vice President
7601 Technology Way
Denver, VO 80237

Jeremy Swartz	Vice President
7601 Technology Way
Denver, CO 80237

Brad Whiting	Vice President
7601 Technology Way
Denver, CO 80237

Phil Wright	Vice President
7601 Technology Way
Denver, CO 80237

Kristan L. Richardson	Secretary
1 Corporate Way
Lansing, MI 48951

(c)



Name of Principal Underwriter	Net Underwriting Discounts and Commissions	Compensation on Redemption	Brokerage Commissions	Compensation
Jackson National Life Distributors LLC	Not Applicable	Not Applicable	Not Applicable	Not Applicable

Item 30. Location of Accounts and Records

Jackson National Life Insurance Company

1 Corporate Way

Lansing, Michigan 48951

Jackson National Life Insurance Company

Institutional Marketing Group Service Center

1 Corporate Way

Lansing, Michigan 48951

Jackson National Life Insurance Company

7601 Technology Way

Denver, Colorado 80237

Jackson National Life Insurance Company

225 West Wacker Drive, Suite 1200

Chicago, IL 60606

Item 31. Management Services

Not Applicable.

Item 32. Undertakings and Representations


a)	Jackson National Life Insurance Company of New York hereby undertakes to file a post-effective amendment to this registration statement as frequently as is necessary to ensure that the audited financial statements in the registration statement are never more than sixteen (16) months old for so long as payment under the variable annuity contracts may be accepted.

Jackson National Life Insurance Company of New York hereby undertakes to include either (1) as part of any application to purchase a contract offered by the Prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a postcard or similar written communication affixed to or included in the Prospectus that the applicant can remove to send for a Statement of Additional Information.


c)	Jackson National Life Insurance Company of New York hereby undertakes to deliver any Statement of Additional Information and any financial statement required to be made available under this Form promptly upon written or oral request.


d)	Jackson National Life Insurance Company of New York represents that the fees and charges deducted under the contract, in the aggregate, are reasonable in relation to the services rendered, the expenses to be incurred, and the risks assumed by Jackson National Life Insurance Company of New York.

The Registrant hereby represents that any contract offered by the prospectus and which is issued pursuant to Section 403(b) of the Internal Revenue Code of 1986 as amended, is issued by the Registrant in reliance upon, and in compliance with, the Securities and Exchange Commission's industry-wide no-action letter to the American Council of Life Insurance (publicly available November 28, 1988) which permits withdrawal restrictions to the extent necessary to comply with IRS Section 403(b)(11).

SIGNATURES

As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of this post-effective amendment to the Registration Statement and has caused this post-effective amendment to the Registration Statement to be signed on its behalf, in the City of Lansing, and State of Michigan, on this 21st day of April, 2017.

JNLNY Separate Account II

(Registrant)

Jackson National Life Insurance Company of New York

By: /s/ ANDREW J. BOWDEN

Andrew J. Bowden

Senior Vice President, General Counsel

and Secretary

Jackson National Life Insurance Company of New York

(Depositor)

By: /s/ ANDREW J. BOWDEN

Andrew J. Bowden

Senior Vice President, General Counsel

and Secretary

As required by the Securities Act of 1933, this post-effective amendment to the Registration Statement has been signed by the following persons in the capacities and on the dates indicated.



*		April 21, 2017
James R. Sopha, President


*		April 21, 2017
P. Chad Myers, Executive Vice President and Chief Financial Officer


*		April 21, 2017
Michael A. Costello, Senior Vice President, Controller, Treasurer and Director


*		April 21, 2017
Gregory P. Cicotte, Executive Vice President, Chief Distribution Officer and Director


*		April 21, 2017
David A. Collins, Vice President, Deputy Chief Risk Officer and Director





*		April 21, 2017
Laura L. Hanson, Vice President and Director


*		April 21, 2017
Herbert G. May, III, Chief Administrative Officer and Director


*		April 21, 2017
Heather R. Strang, Vice President and Director


*		April 21, 2017
R. Kevin Clinton, Director


*		April 21, 2017
John C. Colpean, Director


*		April 21, 2017
Donald B. Henderson, Jr., Director

* By: /s/ ANDREW J. BOWDEN

Andrew J. Bowden, as Attorney-in-Fact,

pursuant to Power of Attorney filed herewith.

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that each of the undersigned as directors and/or officers of JACKSON NATIONAL LIFE INSURANCE COMPANY OF NEW YORK (the “Depositor”), a New York corporation, hereby appoint James R. Sopha, P. Chad Myers, Andrew J. Bowden, Susan S. Rhee and Frank J. Julian (each with power to act without the others) his/her attorney-in-fact and agent, with full power of substitution and resubstitution, for and in his/her name, place and stead, in any and all capacities, to sign applications and registration statements, and any and all amendments, with power to affix the corporate seal and to attest it, and to file the applications, registration statements, and amendments, with all exhibits and requirements, in accordance with the Securities Act of 1933, the Securities and Exchange Act of 1934, and/or the Investment Company Act of 1940. This Power of Attorney concerns JNLNY Separate Account I (File Nos. 333-37175, 333-48822, 333-70384, 333-81266, 333-118370, 333-119659, 333-137485, 333-163323, 333-172873, 333-175720, 333-175721, 333-177298, 333-183046, 333-183047, 333-192972, 333-210507, and 333-212425), JNLNY Separate Account II (File No. 333-86933), and JNLNY Separate Account IV (File Nos. 333-109762 and 333-118132), as well as any future separate account(s) and/or future file number(s) within any separate account(s) that the Depositor establishes through which securities, particularly variable annuity contracts and variable universal life insurance policies, are to be offered for sale. The undersigned grant to each attorney-in-fact and agent full authority to take all necessary actions to effectuate the above as fully, to all intents and purposes, as he/she could do in person, thereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may lawfully do or cause to be done by virtue hereof. This instrument may be executed in one or more counterparts.

IN WITNESS WHEREOF, the undersigned have executed this Power of Attorney effective as of the 31^st day of March, 2017.

/s/ JAMES R. SOPHA

James R. Sopha, President

/s/ P. CHAD MYERS

P. Chad Myers, Executive Vice President and

Chief Financial Officer

/s/ MICHAEL A. COSTELLO

Michael A. Costello, Senior Vice President, Controller,

Treasurer and Director

/s/ GREGORY P. CICOTTE

Gregory P. Cicotte, Executive Vice President,

Chief Distribution Officer and Director

/s/ DAVID A. COLLINS

David A. Collins, Vice President,

Deputy Chief Risk Officer and Director

/s/ LAURA L. HANSON

Laura L. Hanson, Vice President and Director

/s/ HERBERT G. MAY, III

Herbert G. May, III, Chief Administrative Officer

and Director

/s/ HEATHER R. STRANG

Heather R. Strang, Vice President and Director

/s/ R. KEVIN CLINTON

R. Kevin Clinton, Director

/s/ JOHN C. COLPEAN

John C. Colpean, Director

/s/ DONALD B. HENDERSON, JR.

Donald B. Henderson, Jr., Director

EXHIBIT LIST


Exhibit No.	Description


9.	Opinion and Consent of Counsel.


10.	Consent of Independent Registered Public Accounting Firm.