485BPOS 1 four85b_focus.txt As filed with the Securities and Exchange Commission on December 22, 2006 Commission File Nos. 333-73850 811-08664 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. 16 |X| and/or REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 Amendment No. 110 |X| -------------- Jackson National Separate Account - I (Exact Name of Registrant) -------------- Jackson National Life Insurance Company (Name of Depositor) 1 Corporate Way, Lansing, Michigan 48951 (Address of Depositor's Principal Executive Offices) Depositor's Telephone Number, including Area Code: (517) 381-5500 Thomas J. Meyer, Esq. Senior Vice President, Secretary and General Counsel Jackson National Life Insurance Company 1 Corporate Way Lansing, MI 48951 (Name and Address of Agent for Service) Copy to: Anthony L. Dowling, Esq. Jackson National Life Insurance Company 1 Corporate Way Lansing, MI 48951 It is proposed that this filing will become effective: _X_ immediately upon filing pursuant to paragraph (b) ___ on [date] pursuant to paragraph (b) ___ 60 days after filing pursuant to paragraph (a)(1) ___ on [date] pursuant to paragraph (a)(1) of Rule 485 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 Individual and Group Deferred Variable Annuity Contracts. EXPLANATORY NOTE: This amendment supplements the prospectus. Parts B and C are also amended as indicated. The amendment does not otherwise delete, amend, or supersede any other information in the registration statement, as previously amended, including exhibits and undertakings. Accordingly, Parts A and B of Post-Effective Amendment No. 17, as filed on April 28, 2006 (Accession No. 0000950137-06-000125), as thereafter supplemented, are hereby incorporated by reference. SUPPLEMENT DATED DECEMBER 22, 2006 TO THE PROSPECTUS DATED MAY 1, 2006 FOR PERSPECTIVE FOCUS(R) ISSUED BY JACKSON NATIONAL LIFE INSURANCE COMPANY(R) THROUGH JACKSON NATIONAL SEPARATE ACCOUNT - I THIS SUPPLEMENT UPDATES THE PROSPECTUS FOR CONTRACTS, EFFECTIVE JANUARY 16, 2007. PLEASE READ AND KEEP IT TOGETHER WITH YOUR COPY OF THE PROSPECTUS FOR FUTURE REFERENCE. -------------------------------------------------------------------------------- * Please replace the second bullet on the first page with the following. o 76 INVESTMENT DIVISIONS of Jackson National Separate Account - I (the "Separate Account") each of which purchases shares of one Fund of JNL Series Trust or JNL Variable Fund LLC, mutual funds with a full range of investment objectives: -------------------------------------------------------------------------------- * Nine new Investment Divisions of the Separate Account are available, each of which invests in the following funds - all Class A shares: JNL SERIES TRUST JNL/CREDIT SUISSE GLOBAL NATURAL RESOURCES FUND JNL/CREDIT SUISSE LONG/SHORT FUND JNL/FRANKLIN TEMPLETON FOUNDING STRATEGY FUND JNL/FRANKLIN TEMPLETON GLOBAL GROWTH FUND JNL/FRANKLIN TEMPLETON MUTUAL SHARES FUND JNL/PIMCO REAL RETURN FUND JNL/S&P DISCIPLINED MODERATE FUND JNL/S&P DISCIPLINED MODERATE GROWTH FUND JNL/S&P DISCIPLINED GROWTH FUND * Also, please note the following fund name changes: JNL SERIES TRUST JNL/PPM AMERICA VALUE EQUITY FUND (FORMERLY, JNL/PUTNAM VALUE EQUITY FUND) JNL/WESTERN ASSET HIGH YIELD BOND FUND (FORMERLY, JNL/WESTERN HIGH YIELD BOND FUND) JNL/WESTERN ASSET STRATEGIC BOND FUND (FORMERLY, JNL/WESTERN STRATEGIC BOND FUND) JNL/WESTERN ASSET U.S. GOVERNMENT & QUALITY BOND FUND (FORMERLY, JNL/WESTERN U.S. GOVERNMENT & QUALITY BOND FUND) -------------------------------------------------------------------------------- * Under FEES AND EXPENSES TABLES, please replace the "Total Annual Fund Operating Expenses" minimum and maximum amounts with the following. -------------------------------------------- Minimum: 0.60% Maximum: 1.89% --------------------------------------------- * Under FEES AND EXPENSES TABLES, with the fee table entitled "Fund Operating Expenses," please note the expenses charged by the following nine newly available funds. In addition, please note the revised expenses charged by JNL/PPM America Value Equity Fund, formerly JNL/Putnam Value Equity Fund. Also, the below footnotes replace the corresponding footnotes in the prospectus. FUND OPERATING EXPENSES (AS AN ANNUAL PERCENTAGE OF THE FUND'S AVERAGE DAILY NET ASSETS)
ANNUAL MANAGEMENT AND SERVICE OTHER OPERATING FUND NAME ADMIN FEE A (12B-1) FEE EXPENSES B EXPENSES --------------------------------------------------------------- ---------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/Credit Suisse Global Natural Resources 0.85% 0.20% 0.01% 1.06% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/Credit Suisse Long/Short 1.00% 0.20% 0.50% D 1.70% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/Franklin Templeton Founding Strategy E 0.05% 0.00% 0.01% 0.06% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/Franklin Templeton Global Growth 0.90% 0.20% 0.01% 1.11% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/Franklin Templeton Mutual Shares 0.85% 0.20% 0.01% 1.06% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/PIMCO Real Return 0.60% 0.20% 0.01% 0.81% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/PPM America Value Equity 0.65% 0.20% 0.01% 0.86% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/S&P Disciplined Moderate C 0.18% 0.00% 0.01% 0.19% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/S&P Disciplined Moderate Growth C 0.18% 0.00% 0.01% 0.19% ---------------------------------------------------------------- --------------- -------------- ------------- ------------- ---------------------------------------------------------------- --------------- -------------- ------------- ------------- JNL/S&P Disciplined Growth C 0.18% 0.00% 0.01% 0.19% ---------------------------------------------------------------- --------------- -------------- ------------- -------------
A Certain Funds pay Jackson National Asset Management, LLC, the Administrator, an administrative fee for certain services provided to the Fund by the Administrator. The JNL/Credit Suisse Global Natural Resources Fund, the JNL/Credit Suisse Long/Short Fund, the JNL/Franklin Templeton Global Growth Fund, the JNL/JPMorgan International Equity Fund, the JNL/JPMorgan International Value Fund, the JNL/Lazard Emerging Markets Fund, the JNL/Oppenheimer Global Growth Fund, the JNL/Select Global Growth Fund and all of the JNL/Mellon Capital Management Funds except the JNL/Mellon Capital Management S&P 500 Index Fund, the JNL/Mellon Capital Management S&P 400 MidCap Index Fund, the JNL/Mellon Capital Management Small Cap Index Fund, the JNL/Mellon Capital Management Bond Index Fund, the JNL/Mellon Capital Management Enhanced S&P 500 Stock Index Fund and the JNL/Mellon Capital Management Global 15 Fund pay an administrative fee of 0.15%; the JNL/Mellon Capital Management Global 15 Fund pays an administrative fee of 0.20%; the JNL/Franklin Templeton Founding Strategy Fund and the 12 JNL/S&P Funds pay an administrative fee of 0.05%; and the other Funds pay an administrative fee of 0.10%. The Management and Administrative Fee and the Annual Operating Expenses columns in this table reflect the inclusion of any applicable administrative fee. B Other Expenses include registration fees, licensing costs, a portion of the Chief Compliance Officer costs, directors and officers insurance, the fees and expenses of the disinterested Trustees/Managers and of independent legal counsel to the disinterested Trustees/Managers. C UNDERLYING FUND EXPENSES. The expenses shown above are the annual operating expenses for the JNL/S&P Funds. Because the JNL/S&P Funds invest in other Funds of the JNL Series Trust and JNL Variable Fund LLC, the JNL/S&P Funds will indirectly bear its pro rata share of fees and expenses of the underlying Funds in addition to the expenses shown. The total annual operating expenses for each JNL/S&P Fund (including both the annual operating expenses for the JNL/S&P Funds and the annual operating expenses for the underlying Funds) could range from 0.76% to 1.89% (this range reflects an investment in the Funds with the lowest and highest Annual Operating Expenses). The table below shows estimated total annual operating expenses for each of the JNL/S&P Funds based on the pro rata share of expenses that the JNL/S&P Funds would bear if they invested in a hypothetical mix of underlying Funds. The Adviser believes the expenses shown below to be a likely approximation of the expenses the JNL/S&P Funds will incur based on the actual mix of underlying Funds. The expenses shown below include both the annual operating expenses for the JNL/S&P Fund and the annual operating expenses for the underlying Funds. The actual expenses of each JNL/S&P Fund will be based on the actual mix of underlying Funds in which it invests. The actual expenses may be greater or less than those shown. JNL/S&P Managed Conservative Fund 1.04% JNL/S&P Managed Moderate Fund 1.08% JNL/S&P Managed Moderate Growth Fund 1.09% JNL/S&P Managed Growth Fund 1.13% JNL/S&P Managed Aggressive Growth Fund 1.16% JNL/S&P Retirement Income Fund 1.05% JNL/S&P Retirement 2015 Fund 1.13% JNL/S&P Retirement 2020 Fund 1.15% JNL/S&P Retirement 2025 Fund 1.16% JNL/S&P Disciplined Moderate Fund 0.89% JNL/S&P Disciplined Moderate Growth Fund 0.86% JNL/S&P Disciplined Growth Fund 0.85% D Amount includes the estimated costs associated with the Fund's short sales on equity securities. The percentage shown represents estimates for the Fund's initial year of operations and assumes that the Fund maintains short equity positions of approximately 20% of its net assets. When a cash dividend is declared on a security for which the Fund holds a short position, the Fund incurs the obligation to pay an amount equal to that dividend to the lender of the shorted security. Dividend expense on short sales is estimated to be 0.37% of the 0.50%. In addition, the Fund will incur fees in connection with the borrowing of securities in order to effect the short sale transactions, which is estimated to be 0.12% of the 0.50%. The Fund's actual dividend expenses paid and stock loan fees on securities sold short may be significantly higher or lower than the estimates above due to, among other factors, the actual extent of the Fund's short positions, the actual dividends paid with respect to the securities the Fund sells short, and the actual timing of the Fund's short sale transactions, each of which is expected to vary over time. E UNDERLYING FUND EXPENSES. The expenses shown above are the annual operating expenses for the JNL/Franklin Templeton Founding Strategy Fund. Because the JNL/Franklin Templeton Founding Strategy Fund invests in the JNL/Franklin Templeton Income Fund, the JNL/Franklin Templeton Global Growth Fund, and the JNL/Franklin Templeton Mutual Shares Fund, the JNL/Franklin Templeton Founding Strategy Fund will indirectly bear its pro rata share of fees and expenses of the Underlying Funds in addition to the expenses shown. The JNL/Franklin Templeton Founding Strategy Fund expense including the expenses for the Underlying Funds is 1.15%. * Under FEES AND EXPENSES TABLES, please replace the corresponding example with the following. 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. The following example includes maximum Fund fees and expenses and the cost if you select the optional Earnings Protection Benefit, the most expensive Optional Death Benefit Endorsement, the Guaranteed Minimum Withdrawal Benefit (using the maximum possible charge), and the 2% Contract Enhancement Endorsement. 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 $1,565 $2,359 $2,669 $5,065 If you annuitize at the end of the applicable time period: 1 year * 3 years 5 years 10 years $1,565 $2,359 $2,669 $5,065 * Withdrawal charges apply to income payments occurring within one year of the Contract's Issue Date. If you do NOT surrender your Contract: 1 YEAR 3 YEARS 5 YEARS 10 YEARS $565 $1,684 $2,669 $5,065 THE EXAMPLE DOES NOT REPRESENT PAST OR FUTURE EXPENSES. YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER. -------------------------------------------------------------------------------- * Under THE ANNUITY CONTRACT, please replace the last paragraph with the following. The Contract is a flexible premium fixed and variable deferred annuity and may be issued as either an individual or a group contract. Contracts issued in your state may provide different features and benefits than those described in this prospectus. 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. In those states where Contracts are issued as group contracts, references throughout the prospectus to "Contract(s)" shall also mean "certificate(s)." -------------------------------------------------------------------------------- * Under INVESTMENT DIVISIONS, with the JNL SERIES TRUST, please add the following information about the newly available funds. -------------------------------------------------------------------------------- JNL/CREDIT SUISSE GLOBAL NATURAL RESOURCES FUND Jackson National Asset Management, LLC (and Credit Suisse Asset Management, LLC and Credit Suisse Asset Management Limited (sub-sub-adviser)) Seeks long-term growth of capital by investing a minimum of 95% (of the majority of its assets) of its assets in worldwide companies. -------------------------------------------------------------------------------- JNL/CREDIT SUISSE LONG/SHORT FUND Jackson National Asset Management, LLC (and Credit Suisse Asset Management, LLC) Seeks total return by investing through a quantitative active equity management strategy that allows the portfolio to underweight unattractive stocks beyond benchmark weights, resulting in short positions on certain stocks. -------------------------------------------------------------------------------- JNL/FRANKLIN TEMPLETON FOUNDING STRATEGY FUND Jackson National Asset Management, LLC Seeks capital appreciation by investing in a combination of mutual funds (Underlying Funds) on a fixed percentage basis. 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 GROWTH FUND Jackson National Asset Management, LLC (and Templeton Global Advisors Limited) Seeks long-term capital growth by investing primarily in the equity securities of companies located anywhere in the world, including emerging markets (under normal market conditions). -------------------------------------------------------------------------------- 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, and secondarily, income by investing in equity securities of companies in any nation, pursuant to manager discretion. The Fund invests primarily (up to 80%) in mid- and large-cap companies with market capitalization greater than $1.5 billion at the time of investment, but it may invest a significant portion of its assets in small-cap companies as well. -------------------------------------------------------------------------------- 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 by investing under normal circumstances at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or government-sponsored enterprises and corporations. -------------------------------------------------------------------------------- JNL/S&P DISCIPLINED MODERATE FUND Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services 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 and the JNL Variable Fund LLC. The Fund seeks to achieve capital growth through its investments in Underlying Funds that invest primarily in equity securities. The Fund seeks to achieve current income through its investments in Underlying Funds that invest primarily in fixed-income securities. -------------------------------------------------------------------------------- JNL/S&P DISCIPLINED MODERATE GROWTH FUND Jackson National Asset Management, LLC (and Standard & Poor's Investment Advisory Services 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 and the JNL Variable Fund LLC. The Fund seeks to achieve capital growth through its investments in Underlying Funds that invest primarily in equity securities. The Fund seeks to achieve current income through its investments in Underlying Funds that invest primarily in fixed-income securities. -------------------------------------------------------------------------------- JNL/S&P DISCIPLINED 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 and the JNL Variable Fund LLC. The Fund seeks to achieve capital growth through its investments in Underlying Funds that invest primarily in equity securities. The Fund seeks to achieve current income through its investments in Underlying Funds that invest primarily in fixed-income securities. * Under INVESTMENT DIVISIONS, with the JNL SERIES TRUST, please replace the fund objective paragraph for the former JNL/Putnam Value Equity Fund with the following. -------------------------------------------------------------------------------- JNL/PPM AMERICA VALUE EQUITY FUND Jackson National Asset Management, LLC (and PPM America, Inc.) Seeks long-term capital growth by investing primarily in a diversified portfolio of equity securities of domestic, large-capitalization companies at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) will be invested, under normal circumstances, in equity securities. -------------------------------------------------------------------------------- * The following section entitled "Distribution of Contracts," formerly a subsection under CONTRACT CHARGES, contains revised language and is now a separate section. DISTRIBUTION OF CONTRACTS Jackson National Life Distributors LLC ("JNLD"), located at 7601 Technology Way, Denver, Colorado 80237, serves as the distributor of the Contracts. JNLD is a wholly owned subsidiary of Jackson National. Commissions are paid to broker-dealers who 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, we may also pay trail commissions. We may also pay commissions on the Income Date if the annuity option selected involves a life contingency or a payout over a period of ten or more years. Under certain circumstances, JNLD out of its own resources may pay bonuses, overrides, and marketing allowances, in addition to the standard commissions. These cash payments, or reimbursements, to broker-dealers are in recognition of their marketing and distribution and/or administrative services support. They may not be offered to all broker-dealers, and the terms of any particular agreement may vary among broker-dealers depending on, among other things, the level and type of marketing and distribution support provided assets under management, and the volume and size of the sales of our insurance products. Such compensation is subject to applicable state insurance law and regulation and the NASD rules of conduct. The two primary forms of such compensation paid by JNLD are overrides and marketing support payments. Overrides are payments that are designed as consideration for product placement, assets under management and sales volume. Overrides are generally based on a fixed percentage of product sales and currently range from 10 to 50 basis points (0.10% to 0.50%). Marketing support payments may be in the form of cash and/or non-cash compensation and allow us to, among other things, participate in sales conferences and educational seminars. Examples of such payments include, but are not limited to, reimbursements for representative training meetings, prospecting seminars, and business development and educational enhancement items. 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. Below is an alphabetical listing of the 19 broker-dealers that received the largest amounts of marketing and distribution and/or administrative support in 2005 from the Distributor in relation to the sale of our insurance products: A. G. Edwards & Sons, Inc. Centaurus Financial Commonwealth Financial Group, Inc. Fifth Third Securities, Inc. Hantz Financial Services, Inc. IFMG Securities, Inc. Investment Centers of America, Inc. Inter Securities Inc. Invest Financial Corp. Linsco/Private Ledger Corp. Mutual Service Corporation National Planning Corporation Prime Capital Services, Inc. Raymond James & Associates, Inc. Securities America, Inc. SII Investments, Inc. Thrivent Financial for Lutherans Wachovia Securities, LLC WM Financial Services Please see Appendix D for a complete list of broker-dealers that received amounts of marketing and distribution and/or administrative support in 2005 from the Distributor in relation to the sale of our insurance products. 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. 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. Besides Jackson National Life Distributors LLC, we are affiliated with the following broker-dealers: * National Planning Corporation, * SII Investments, Inc., * IFC Holdings, Inc. d/b/a Invest Financial Corporation, * Investment Centers of America, Inc., and * Curian Clearing LLC The Distributor also has the following relationships with the sub-advisers and their affiliates. The Distributor receives payments from certain sub-advisers to assist in defraying the costs of certain promotional and marketing meetings in which they 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. National Planning Corporation participates in the sales of shares of retail mutual funds advised by certain sub-advisers and other unaffiliated entities and receives selling and other compensation from them in connection with those activities, as described in the prospectus or statement of additional information for those funds. The fees range between 0.30% and 0.45% depending on these factors. In addition, the Distributor acts as distributor of variable annuity contracts and variable life insurance policies (the "Other Contracts") issued by Jackson National Life Insurance Company and its subsidiary, Jackson National Life Insurance Company of New York. Raymond James Financial Services, a brokerage affiliate of the sub-adviser to the JNL/Eagle Funds, participates in the sale of Contracts and is compensated by JNLD for its activities at the standard rates of compensation. Unaffiliated broker-dealers are also compensated at the standard rates of compensation. The compensation consists of commissions, trail commissions and other compensation or promotional incentives as described above and in the prospectus or statement of additional information for the Other Contracts. All of the compensation described here, and other compensation or benefits provided by JNL 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 may influence your registered representative, broker-dealer or selling institution 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 registered representative or the broker-dealer. You may ask your registered representative about any variations and how he or she and his or her broker-dealer are compensated for selling the Contract. -------------------------------------------------------------------------------- * Under PURCHASES, in the subsection entitled "Optional Contract Enhancement," please replace the second paragraph with the following. We will not impose the Contract Enhancement recapture charge if your withdrawal is made for certain health-related emergencies, withdrawals of earnings, withdrawals in accordance with an additional free withdrawal provision, amounts paid out as death benefits or to satisfy required minimum distributions of the Internal Revenue Code. For purposes of the recapture charge, we treat withdrawals as coming first from earnings and then from the oldest remaining premium, based on the completed years (12 months) since the receipt of premiums. (See Example 2 in Appendix B for an illustration.) Partial Withdrawals will remove money from the Contract from the Premiums to which no or the lowest total withdrawal and Recapture Charge apply, based on the completed years (12 months) since the receipt of the premium. If the withdrawal requested exceeds the required minimum distribution, the recapture charge will be charged on the entire withdrawal amount. We expect to make a profit on the charge for the Contract Enhancement. Examples in Appendix B may assist you in understanding how recapture charges for the Contract Enhancements work. -------------------------------------------------------------------------------- * Under INCOME PAYMENTS (THE INCOME PHASE), please replace the third paragraph with the following. You can change the Income Date or income option at least seven days before the Income Date, but changes to the Income Date may only be to a later date. You must give us written notice at least seven days before the scheduled Income Date. Income payments must begin by your 90th birthday under a non-qualified Contract, or by such earlier date as required by the applicable qualified plan, law or regulation, unless otherwise approved by the Company. 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. * Under INCOME PAYMENTS (THE INCOME PHASE), in the subsection entitled "Variable Income Payments," please add the following two paragraphs before the last paragraph. If the actual net investment rate experienced by an Investment Division exceeds the assumed net investment rate, variable annuity payments will increase over time. Conversely, if the actual net investment rate is less than the assumed net investment rate, variable annuity payments will decrease over time. If the actual net investment rate equals the assumed net investment rate, the variable annuity payments will remain constant. If the assumed net investment rate is a lower percentage, for example, 3% versus 4.5% under a particular Annuity Option, the initial payment will be smaller if a 3% assumed net investment rate applies instead of a 4.5% assumed net investment rate, but, all other things being equal, the subsequent 3% assumed net investment rate payments have the potential for increasing in amount by a larger percentage and for decreasing in amount by a smaller percentage. -------------------------------------------------------------------------------- * Under TAXES, in the subsection entitled "Extension of Latest Income Date," please replace the first sentence with the following. 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. * Under TAXES, in the subsection entitled "Owner Control," please replace the second paragraph with the following. 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 offers 76 Investment Divisions and at least one Fixed Account option, although a Contract owner can select no more than 18 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. -------------------------------------------------------------------------------- * On the last page of the prospectus, please replace the corresponding text box with the following.
---------------------------------------------------------------------------------------------------------- QUESTIONS: If you have any questions about your Contract, you may contact us at: ANNUITY SERVICE CENTER: 1 (800) 766-4683 (8 a.m. - 8 p.m. ET) MAIL ADDRESS: P.O. Box 17240, Denver, Colorado 80217-0240 DELIVERY ADDRESS: 7601 Technology Way, Denver, Colorado 80237 INSTITUTIONAL MARKETING GROUP SERVICE CENTER: 1 (800) 777-7779 (8 a.m. - 8 p.m. ET) (for Contracts purchased through a bank or another financial institution) MAIL ADDRESS: P.O. Box 30392, Lansing, Michigan 48909-7892 DELIVERY ADDRESS: 1 Corporate Way, Lansing, Michigan 48951 Attn: IMG HOME OFFICE: 1 Corporate Way, Lansing, Michigan 48951 ----------------------------------------------------------------------------------------------------------
(To be used with VC5526 Rev. 05/06) V6059 12/06 SUPPLEMENT DATED DECEMBER 22, 2006 TO THE STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2006 FOR PERSPECTIVE II(R) PERSPECTIVE(SM) L SERIES PERSPECTIVE FOCUS(R) ISSUED BY JACKSON NATIONAL LIFE INSURANCE COMPANY(R) THROUGH JACKSON NATIONAL SEPARATE ACCOUNT - I OR ISSUED BY JACKSON NATIONAL LIFE INSURANCE COMPANY OF NEW YORK(R) THROUGH JNLNY SEPARATE ACCOUNT I THIS SUPPLEMENT UPDATES THE STATEMENT OF ADDITIONAL INFORMATION, EFFECTIVE JANUARY 16, 2007. PLEASE READ AND KEEP IT TOGETHER WITH YOUR COPY OF THE STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE. -------------------------------------------------------------------------------- * Under UNDERWRITERS, please replace the first paragraph as follows: 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 National. * Under ADDITIONAL TAX INFORMATION, in the subsection entitled "Diversification -- Separate Account Investments," please replace the second to the last paragraph with the following. 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 National Life 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 National Life 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 offers 76 Investment Divisions and 1 Fixed Account although a Contract owner can select no more than 18 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. (To be used with NV5639 05/06, V5913 05/06, NV5913 05/06, V5596 05/06 and NV5661 05/06) V6067 12/06 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 - incorporated by reference to Registrant's Post-Effective Amendment No. 15, filed on April 28, 2006 (File Nos. 333-73850 and 811-08664): Jackson National Separate Account - I: Report of Independent Registered Public Accounting Firm Statements of Assets and Liabilities as of December 31, 2005 Statements of Operations for the period ended December 31, 2005 Statement of Changes in Net Assets for the Years Ended December 31, 2004 and 2005 Notes to Financial Statements Jackson National Life Insurance Company: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets as of December 31, 2005 and 2004 Consolidated Income Statements for the years ended December 31, 2005, 2004, and 2003 Consolidated Statements of Stockholder's Equity and Comprehensive Income for the years ended December 31, 2005, 2004, and 2003 Consolidated Statements of Cash flows for the years ended December 31, 2005, 2004, and 2003 Notes to Consolidated Financial Statement Item 24.(b) Exhibits Exhibit Description No. 1. Resolution of Depositor's Board of Directors authorizing the establishment of the Registrant, incorporated by reference to the Registrant's Post-Effective Amendment No. 9 filed on April 21, 1999 (File Nos. 033-82080 and 811-08664). 2. Not Applicable 3.a. General Distributor Agreement dated May 24, 1995, incorporated by reference to the Registrant's Post-Effective Amendment Number 3 filed on April 30, 1996 (File Nos. 033-82080 and 811-08664). b. General Distributor Agreement dated June 30, 1998, incorporated by reference to the Registrant's Post-Effective Amendment Number 11 filed on July 21, 2004 (File Nos. 333-70472 and 811-08664). c. Amended and Restated General Distributor Agreement dated October 25, 2005, incorporated by reference to the Registrant's Post-Effective Amendment No. 21 filed on December 29, 2005 (File Nos. 333-70472 and 811-08664). c. Amended and Restated General Distributor Agreement dated June 1, 2006, incorporated by reference to the Registrant's Registration Statement filed on August 10, 2006 (File Nos. 333-136472 and 811-08664). 4.a. Specimen of the Perspective III Fixed and Variable Annuity Contract, incorporated by reference to the Registrant's Registration Statement filed on November 21, 2001 (File Nos. 333-73850 and 811-08664). b. Specimen of Section 403(b) Tax Sheltered Annuity Endorsement, incorporated by reference to the Registrant's Pre-Effective Amendment No. 1 filed on March 15, 2001 (File Nos. 333-73850 and 811-08664). c. Specimen of Retirement Plan Endorsement, incorporated by reference to the Registrant's Pre-Effective Amendment No. 1 filed on March 15, 2001 (File Nos. 333-73850 and 811-08664). d. Specimen of Individual Retirement Annuity Endorsement, incorporated by reference to the Registrant's Pre-Effective Amendment No. 1 filed on March 15, 2001 (File Nos. 333-73850 and 811-08664). e. Specimen of Roth IRA Endorsement, incorporated by reference to the Registrant's Pre-Effective Amendment No. 1 filed on March 15, 2001 (File Nos. 333-73850 and 811-08664). f. Specimen of Earnings Protection Benefit Endorsement, incorporated by reference to the Registrant's Registration Statement filed on November 21, 2001 (File Nos. 333-73850 and 811-08664). g. Specimen of 5% Compounded Death Benefit Endorsement, incorporated by reference to the Registrant's Registration Statement, filed on November 21, 2001 (File Nos. 333-73850 and 811-08664). h. Specimen of Combination Death Benefit Endorsement, incorporated by reference to the Registrant's Registration Statement filed on November 21, 2001 (File Nos. 333-73850 and 811-08664). i. Specimen of Maximum Anniversary Value Death Benefit Endorsement, incorporated by reference to the Registrant's Registration Statement filed on November 21, 2001 (File Nos. 333-73850 and 811-08664). j. Specimen of 2% Contract Enhancement Endorsement, incorporated by reference to the Registrant's Registration Statement filed on November 21,2001 (File Nos. 333-73850 and 811-08664). k. Specimen of Guaranteed Minimum Income Benefit Endorsement, incorporated by reference to the Registrant's Registration Statement filed on November 21, 2001 (File Nos. 333-73850 and 811-08664). l. Form of Preselected Death Benefit Option Election Endorsement, incorporated by reference to the Registrant's Pre-Effective Amendment No. 1 filed on March 15, 2001 (File Nos. 333-73850 and 811-08664). m. Form of Reduced Administration Charge Endorsement, incorporated by reference to the Registrant's Post-Effective Amendment No. 1 filed on April 29, 2002 (File Nos. 333-73850 and 811-08664). n. Specimen of the Perspective Focus Fixed and Variable Annuity Contract, incorporated by reference to the Registrant's Post-Effective Amendment No. 1 filed on April 29, 2002 (File Nos. 333-73850 and 811-08664). o. Specimen of 2% Contract Enhancement Endorsement, incorporated by reference to the Registrant's Post-Effective Amendment No. 1 filed on April 29, 2002 (File Nos. 333-73850 and 811-08664). p. Specimen of Guaranteed Minimum Withdrawal Benefit endorsement, incorporated by reference to the Registrant's Post-Effective Amendment No. 4 filed on November 1, 2002 (File Nos. 333-73850 and 811-08664). q. Specimen of Fixed Account Options Endorsement, incorporated by reference to the Registrant's Post-Effective Amendment No. 4 filed on November 1, 2002 (File Nos. 333-73850 and 811-08664). r. Specimen of Charitable Remainder Trust Endorsement, incorporated by reference to the Registrant's Pre-Effective Amendment filed on December 23, 2004 (File Nos. 333-118368 and 811-08664). s. Specimen of Guaranteed Minimum Withdrawal Benefit Endorsement, incorporated by reference to the Registrant's Pre-Effective Amendment filed on December 30, 2004 (File Nos. 333-119656 and 811-08664). t. Specimen of Section 403(b) Tax Sheltered Annuity Endorsement, incorporated by reference to the Registrant's Registration Statement filed on August 19, 2004 (File Nos. 333-118368 and 811-08664). u. Specimen of Individual Retirement Annuity Endorsement, incorporated by reference to the Registrant's Registration Statement filed on August 19, 2004 (File Nos. 333-118368 and 811-08664). v. Specimen of Roth Individual Retirement Annuity Endorsement, incorporated by reference to the Registrant's Registration Statement filed on August 19, 2004 (File Nos. 333-118368 and 811-08664). w. Specimen of Guaranteed Minimum Withdrawal Benefit Endorsement, incorporated by reference to the Registrant's Post-Effective Amendment No. 19 filed on October 20, 2005 (File Nos. 333-70472 and 811-08664). 5.a. Form of the Perspective Focus Fixed and Variable Annuity Application, incorporated by reference to the Registrant's Pre-Effective Amendment No. 1 filed on March 15, 2001 (File Nos. 333-73850 and 811-08664). b. Form of the Perspective Focus Fixed and Variable Annuity Application, incorporated by reference to the Registrant's Post-Effective Amendment No. 5 filed on May 1, 2003 (File Nos. 333-73850 and 811-08664). 6.a. Articles of Incorporation of Depositor, incorporated by reference to the Registrant's Post-Effective Amendment No. 3 filed on April 30, 1996 (File Nos. 033-82080 and 811-08664). b. By-laws of Depositor, incorporated by reference to the Registrant's Post-Effective Amendment No. 3 filed on April 30, 1996 (File Nos. 033-82080 and 811-08664). 7.a. Variable Annuity Guaranteed Minimum Death Benefit Reinsurance Agreement, incorporated by reference to the Registrant's Post-Effective Amendment No. 6 filed on December 15, 2003 (File Nos. 333-73850 and 811-08664). b. Variable Annuity Guaranteed Minimum Death Benefit Reinsurance Agreement, incorporated by reference to the Registrant's Post-Effective Amendment No. 11 filed on July 21, 2004 (File Nos. 333-70472 and 811-08664). 8. Not Applicable 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 Richard D. Ash Vice President 1 Corporate Way Lansing, MI 48951 John B. Banez Vice President 1 Corporate Way Lansing, MI 48951 James Binder Vice President & Treasurer 1 Corporate Way Lansing, MI 48951 John H. Brown Vice President 1 Corporate Way Lansing, MI 48951 Joseph Mark Clark Vice President 1 Corporate Way Lansing, MI 48951 Marianne Clone Vice President 1 Corporate Way Lansing, MI 48951 James B. Croom Vice President & Deputy General Counsel 1 Corporate Way Lansing, MI 48951 Gerald W. Decius Vice President 1 Corporate Way Lansing, MI 48951 Lisa C. Drake Senior Vice President 1 Corporate Way Lansing, MI 48951 Phillip Brian Eaves Vice President 1 Corporate Way Lansing, MI 48951 Robert A. Fritts Senior Vice President 1 Corporate Way Lansing, MI 48951 James D. Garrison Vice President 1 Corporate Way Lansing, MI 48951 Julia A. Goatley Assistant Vice President & Associate General Counsel 1 Corporate Way & Assistant Secretary Lansing, MI 48951 James Golembiewski Vice President & Chief Compliance Officer - Separate 1 Corporate Way Accounts Lansing, MI 48951 Andrew B. Hopping Executive Vice President, Chief Financial Officer 1 Corporate Way & Director Lansing, MI 48951 Stephen A. Hrapkiewicz, Jr. Senior Vice President 1 Corporate Way Lansing, MI 48951 Clifford J. Jack Executive Vice President & Chief Distribution Officer 8055 E. Tufts Avenue Suite 1000 Denver, CO 80237 Timo P. Kokko Vice President 1 Corporate Way Lansing, MI 48951 Everett W. Kunzelman Vice President 1 Corporate Way Lansing, MI 48951 Lynn W. Lopes Vice President 1 Corporate Way Lansing, MI 48951 Clark P. Manning, Jr. President & Chief Executive Officer & Director 1 Corporate Way Lansing, MI 48951 Thomas J. Meyer Senior Vice President, General Counsel & Secretary 1 Corporate Way Lansing, MI 48951 Dean M. Miller Vice President 1 Corporate Way Lansing, MI 48951 Keith R. Moore Vice President 1 Corporate Way Lansing, MI 48951 Jacky Morin Vice President 1 Corporate Way Lansing, MI 48951 P. Chad Myers Senior Vice President 1 Corporate Way Lansing, MI 48951 J. George Napoles Executive Vice President & Chief Administration Officer 1 Corporate Way Lansing, MI 48951 Mark D. Nerud Vice President 225 W. Wacker Drive Suite 1200 Chicago, IL 60606 Russell E. Peck Vice President 1 Corporate Way Lansing, MI 48951 Laura L. Prieskorn Vice President 1 Corporate Way Lansing, Michigan 48951 James B. Quinn Vice President 1 Corporate Way Lansing, MI 48951 Kathleen M. Smith Vice President 1 Corporate Way Lansing, MI 48951 Heather R. Strang Vice President 1 Corporate Way Lansing, MI 48951 James R. Sopha Executive Vice President & Director 1 Corporate Way Lansing, MI 48951 Robert M. Tucker, Jr. Vice President 1 Corporate Way Lansing, MI 48951 Michael A. Wells Chief Operating Officer & Director 401 Wilshire Boulevard Suite 1200 Santa Monica, CA 90401 Item 26. Persons Controlled by or Under Common Control with the Depositor or Registrant. Company State of Organization Control/Ownership Business Principal 120 Orion, LLC South Carolina 100% Jackson National Real Estate Life Insurance Company Alcona Funding LLC Delaware 100% Jackson National Investment Related Life Insurance Company Company Berrien Funding LLC Delaware 100% Jackson National Investment Related Life Insurance Company Company Curian Clearing LLC Michigan 100% Jackson National Broker/Dealer (formerly, BH Clearing, Life Insurance Company LLC) Brooke GP Delaware 100% Brooke (Holdco 2) Holding Company Inc. Activities Brooke LLC Delaware 100% Prudential Four Holding Company Limited Activities Brooke (Holdco 1) Inc. Delaware 100% Prudential (US Holding Company Holdco 3) BV Activities Brooke (Holdco 2) Inc. Delaware 100% Brooke (Holdco 1) Holding Company Inc. Activities Brooke Holdings, LLC Delaware 100% Brooke Holdings Holding Company (UK) Limited Activities Brooke Holdings (UK) United Kingdom 100% Holborn Delaware Holding Company Limited Corporation Activities Brooke Investment, Inc. Delaware 100% Brooke Holdings, Investment Related Inc. Company Brooke Life Insurance Michigan 100% Brooke Holdings, Life Insurance Company Inc. Brooke (Jersey) Limited United Kingdom 100% Prudential One Holding Company Limited Activities Calhoun Funding LLC Delaware 100% Jackson National Investment Related Life Insurance Company Company Crescent Telephone Delaware 100% Jackson National Telecommunications Life Insurance Company Curian Capital, LLC Michigan 100% Jackson National Registered Investment Life Insurance Company Advisor Equestrian Pointe Illinois 100% Jackson National Real Estate Investors, L.L.C. Life Insurance Company Forty Partners #1, L.C. Missouri 100% Jackson National Real Estate Life Insurance Company GCI Holding Corporation Delaware 70% Jackson National Holding Company Life Insurance Company Activities GS28 Limited United Kingdom 100% Brooke Holdings Holding Company (UK) Limited Activities Hermitage Management, LLC Michigan 100% Jackson National Advertising Agency Life Insurance Company Holborn Delaware LLC Delaware 100% Prudential Four Holding Company Limited Activities Holliston Mills Delaware 70% Jackson National Textile Mfg. Life Insurance Company Industrial Coatings Group Delaware 70% Jackson National Textile Mfg. Life Insurance Company IFC Holdings, Inc. Delaware 100% National Planning Broker/Dealer Holdings Inc. Investment Centers of Delaware 100% IFC Holdings, Inc. Broker/Dealer America, Inc. JNL Investors Series Trust Massachusetts 100% Jackson National Investment Company Life Insurance Company Jackson National Asset Michigan 100% Jackson National Investment Adviser and Management, LLC Life Insurance Company Transfer Agent Jackson National Life Bermuda 100% Jackson National Life Insurance (Bermuda) Ltd. Life Insurance Company Jackson National Life Delaware 100% Jackson National Advertising/Marketing Distributors LLC Life Insurance Company Corporation and Broker/Dealer Jackson National Life New York 100% Jackson National Life Insurance Insurance Company Life Insurance Company of New York JNLI LLC Delaware 100% Jackson National Tuscany Notes Life Insurance Company JNL Series Trust Massachusetts Common Law Trust with Investment Company contractual association with Jackson National Life Insurance Company of New York JNL Southeast Agency LLC Michigan 100% Jackson National Insurance Agency Life Insurance Company JNL Variable Fund LLC Delaware 100% Jackson National Investment Company Separate Account - I JNLNY Variable Fund I LLC Delaware 100% JNLNY Separate Investment Company Account I LePage's Management Delaware 50% LePage's MC, LLC Company, LP LePage's MC, LLC Delaware 100% PPM Management, Inc. Meadows NRH Associates, Texas 100% Meadows NRH, Inc. Real Estate L.P. Meadows NRH, Inc. Texas 100% Jackson National Real Estate Life Insurance Company National Planning Delaware 100% National Planning Broker/Dealer and Corporation Holdings, Inc. Investment Adviser National Planning Delaware 100% Brooke Holdings, Holding Company Holdings, Inc. Inc. Activities Nicole Finance Inc. Delaware 100% Brooke GP Holding Company Activities PGDS (US One) LLC Delaware 100% Jackson National Holding Company Life Insurance Company Activities PGDS (US Two) LLC Delaware 100% PGDS (US One) LLC Holding Company Activities Piedmont Funding LLC Delaware 100% Jackson National Investment Related Life Insurance Company Company PPM Holdings, Inc. Delaware 100% Brooke Holdings, Holding Company Inc. Activities Prudential plc United Kingdom Publicly Traded Financial Institution Prudential Corporation United Kingdom 100% Prudential Holdings Holding Company Holdings, Limited Limited Activities Prudential Holdings Scotland 100% Prudential plc Holding Company Limited Activities Prudential One Limited United Kingdom 100% Prudential plc Holding Company Activities Prudential Two Limited United Kingdom 100% Prudential One Holding Company Limited Activities Prudential Three Limited United Kingdom 100% Prudential One Holding Company Limited Activities Prudential Four Limited United Kingdom 80% Prudential One Holding Company Limited, 10% Prudential Activities Two Limited, 10% Prudential Three Limited Prudential (US Holdco 1) BV Netherlands 100% PUS Holdco 1 Limited Holding Company Activities Prudential (US Holdco 2) BV Netherlands 100% Prudential (US Holding Company Holdco 1) BV Activities Prudential (US Holdco 3) BV Netherlands 100% Prudential (US Holding Company Holdco 2) BV Activities PUS Holdco 1 Limited United Kingdom 100% Brooke LLC Holding Company Activities PUS Holdco 2 Limited Gibraltar 100% Holborn Delaware LLC Holding Company Activities SII Investments, Inc. Wisconsin 100% National Planning Broker/Dealer Holdings, Inc.
Item 27. Number of Contract Owners as of October 20, 2006 Qualified - 1,680 Non-Qualified - 1,684 Item 28. Indemnification Provision is made in the Company's Amended By-Laws for indemnification by the Company of any person who was or is a party or is threatened to be made a party to a civil, criminal, administrative or investigative action by reason of the fact that such person is or was a director, officer or employee of the Company, against expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceedings, to the extent and under the circumstances permitted by the General Corporation Law of the State of Michigan. 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 Jackson National Separate Account - I. Jackson National Life Distributors LLC also acts as general distributor for the Jackson National Separate Account III, the Jackson National Separate Account VI, the Jackson National Separate Account V, the JNLNY Separate Account I, the JNLNY Separate Account II, and the JNLNY Separate Account IV. (b) Directors and Officers of Jackson National Life Distributors LLC:
Name and Business Address Positions and Offices with Underwriter Michael A. Wells Director 401 Wilshire Blvd. Suite 1200 Santa Monica, CA 90401 Andrew B. Hopping Chief Financial Officer 1 Corporate Way Lansing, MI 48951 Clifford J. Jack Director, President and Chief Executive Officer 8055 E. Tufts Avenue Suite 1000 Denver, CO 80237 Nikhil Advani Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Stephen M. Ash Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Pamela Aurbach Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Brad Baker Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Linda Baker Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Janice Blanchard Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 William Britt Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Tori Bullen Senior Vice President 210 Interstate North Parkway Suite 401 Atlanta, GA 30339-2120 Greg Cicotte Executive Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Maura Collins Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Robert DiNardo Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Paul Fitzgerald Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Julia A. Goatley Assistant Secretary 1 Corporate Way Lansing, MI 48951 Luis Gomez Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Kevin Grant Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Bonnie Howe Vice President and Deputy General Counsel 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Thomas Hurley Senior Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Mark Jones Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Steve Kluever Senior Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Brian Lane Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 James Livingston Executive Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Doug Mantelli Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Susan McClure Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 James McCorkle Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Brook Meyer Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Thomas J. Meyer Director and Secretary 1 Corporate Way Lansing, MI 48951 Jack Mishler Senior Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Justin Rafferty Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Peter Radloff Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Gregory B. Salsbury Executive Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Kathleen Schofield Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Greg Smith Senior Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Sam Somuri Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 David Sprague Senior Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Daniel Starishevsky Senior Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Doug Townsend Vice President and Controller and FinOp 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 C. Ray Trueblood Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Daniel Wright Vice President and Chief Compliance Officer 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 Phil Wright Vice President 8055 E. Tufts Avenue Suite 1100 Denver, CO 80237 (c) Name of Principal Net Underwriting Compensation on Brokerage Compensation Underwriter Discounts and Redemption or Commissions Commissions Annuitization Jackson National Life Not Applicable Not Applicable Not Applicable Not Applicable Distributors LLC
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 8055 East Tufts Ave., Second Floor 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 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. b. Jackson National Life Insurance Company 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 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 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. e. 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 be signed on its behalf, in the City of Lansing, and State of Michigan, on this 22nd day of December, 2006. Jackson National Separate Account - I (Registrant) Jackson National Life Insurance Company By: THOMAS J. MEYER ------------------- Thomas J. Meyer Senior Vice President, Secretary, and General Counsel Jackson National Life Insurance Company (Depositor) By: THOMAS J. MEYER ------------------- Thomas J. Meyer Senior Vice President, Secretary, and General Counsel 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.
THOMAS J. MEYER* December 22, 2006 ------------------- ----------------- Clark P. Manning, Jr., President, Chief Executive Officer and Director THOMAS J. MEYER* December 22, 2006 ------------------- ----------------- Michael A. Wells, Director THOMAS J. MEYER* December 22, 2006 ------------------- ----------------- Andrew B. Hopping, Executive Vice President - Chief Financial Officer and Director THOMAS J. MEYER* December 22, 2006 ------------------- ----------------- Robert A. Fritts, Senior Vice President and Controller THOMAS J. MEYER* December 22, 2006 ------------------- ----------------- James R. Sopha, Executive Vice President and Director
* Thomas J. Meyer, Senior Vice President, Secretary, General Counsel and Attorney-in-Fact POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned as directors and/or officers of JACKSON NATIONAL LIFE INSURANCE COMPANY (the Depositor), a Michigan corporation, hereby appoints Clark P. Manning, Jr., Andrew B. Hopping, Thomas J. Meyer, Patrick W. Garcy, Susan S. Rhee, and Anthony L. Dowling (each with power to act without the others) his attorney-in-fact and agent, with full power of substitution and resubstitution, for and in his 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 JNL Separate Account - I (033-82080, 333-70472, 333-73850, 333-118368, 333-119656, 333-132128 and 333-136472), JNL Separate Account III (333-41153), JNL Separate Account IV (333-108433 and 333-118131), and JNL Separate Account V (333-70697), as well as any future separate accounts 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 as of the 18th day of October, 2006. CLARK P. MANNING, JR. -------------------------------------- Clark P. Manning, Jr., President, Chief Executive Officer and Director MICHAEL A. WELLS -------------------------------------- Michael A. Wells, Chief Operating Officer and Director ANDREW B. HOPPING -------------------------------------- Andrew B. Hopping, Executive Vice President, Chief Financial Officer and Director ROBERT A. FRITTS -------------------------------------- Robert A. Fritts, Senior Vice President, Controller JAMES R. SOPHA -------------------------------------- James R. Sopha, Executive Vice President, and Director EXHIBIT LIST Exhibit No. Description 9. Opinion and Consent of Counsel, attached hereto as EX-9. 10. Consent of Independent Registered Public Accounting Firm, attached hereto as EX-10.