N-VP 1 jnlpii6cebefore91012notice.htm N-VP Document

Notice Dated April 25, 2022

PERSPECTIVE II® (6% CE)
PERSPECTIVE II
FLEXIBLE PREMIUM VARIABLE AND FIXED DEFERRED ANNUITY
(Contracts offered for sale before September 10, 2012)
Issued by
Jackson National Life Insurance Company® through
Jackson National Separate Account – I

This Notice Document (“Notice”) provides certain updated information about your Perspective II (6% CE) Flexible Premium Variable and Fixed Deferred Annuity (Contracts offered for sale before September 10, 2012) contract (“Contract”), which is no longer available for purchase.
Jackson National Life Insurance Company (“Jackson”) is providing this Notice in lieu of an updated prospectus for the Contract in reliance on the Securities and Exchange Commission’s position on modernized alternative disclosures for discontinued variable annuity offerings. Updated audited financial statements for Jackson and for Jackson National Separate Account - I (“Separate Account”) are available, free of charge, at www.jackson.com/product-literature-4.html. In addition, current summary prospectuses, statutory prospectuses, statements of additional information, and the most recent shareholder reports for the funds available under the Contract (“Funds”) are available, free of charge, at the same website address as above. To request a free paper or e-mail copy of any of these materials, please call 1-800-644-4465 or send an email request to customercare@jackson.com.

Your Contract prospectus dated April 27, 2020 contains more information about the Contract’s features, benefits, and risks.

Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov.


TABLE OF CONTENTS
DEFINITIONS
UPDATED INFORMATION ABOUT YOUR CONTRACT
IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT
APPENDIX A (FUNDS AVAILABLE UNDER THE CONTRACT)
A-1
BACK COVER PAGE
B-1



DEFINITIONS

Contract Anniversary – each one-year anniversary of the Contract’s Issue Date.

Contract Year – the succeeding twelve months from a Contract’s Issue Date and every anniversary. The first Contract Year (Contract Year 0-1) starts on the Contract’s Issue Date and extends to, but does not include, the first Contract Anniversary. Subsequent Contract Years start on an anniversary date and extend to, but do not include, the next anniversary date.

For example, if the Issue Date is January 15, 2023 then the end of Contract Year 0-1 would be January 14, 2024, and January 15, 2024, which is the first Contract Anniversary, begins Contract Year 1-2.

Fixed Account – part of our General Account to which the Contract Value you allocate is guaranteed to earn a stated rate of return over the specified period. The Fixed Account consists of the Fixed Account Options.

Fixed Account Option – a Contract option within the Fixed Account for a specific period under which a stated rate of return will be credited.

Fund – a registered investment company in which an Investment Division of the Separate Account invests.

General Account – the General Account includes all our assets, including any Contract Value allocated to the Fixed Account and the GMWB Fixed Account, which are available to our creditors.

Guaranteed Minimum Withdrawal Benefit (GMWB) Fixed Account – part of our General Account to and from which automatic transfers of your Contract Value may be required according to non-discretionary formulas. The Contract Value allocated to the GMWB Fixed Account will earn a stated rate of return over a specified period.

Investment Division one of multiple variable options of the Separate Account to allocate your Contract’s value, each of which exclusively invests in a different available Fund. The Investment Divisions are called variable because the return on investment is not guaranteed.

Issue Date the date your Contract is issued.

Separate Account – Jackson National Separate Account – I. The Separate Account is divided into sub-accounts generally referred to as Investment Divisions.
1


UPDATED INFORMATION ABOUT YOUR CONTRACT

Fund-Related Changes
Effective April 25, 2022, the following changes were made to the Funds available under the Contract:

Fund Name Changes
1.JNL/Franklin Templeton Global Multisector Bond Fund to JNL/Western Asset Global Multi-Sector Bond Fund;
2.JNL/Invesco International Growth Fund to JNL/William Blair International Leaders Fund;
3.JNL/Mellon Equity Income Fund to JNL/Newton Equity Income Fund; and
4.JNL/Mellon MSCI KLD 400 Social Index Fund to JNL/Morningstar U.S. Sustainability Index Fund.

New Funds
1.JNL/AB Sustainable Global Thematic Fund.

Merged Funds
1.The JNL/BlackRock Advantage International Fund was merged into the JNL/DFA International Core Equity Fund; and
2.The JNL/Franklin Templeton Growth Allocation Fund was merged into the JNL Growth Allocation Fund.

Ownership Changes
Effective September 13, 2021 Jackson’s parent company, Jackson Financial Inc. (“JFI”), completed its spin-off from Prudential plc and became an independent public company. Prudential plc and Athene Co-Invest Re Ltd. each hold a minority ownership interest in JFI. Prudential plc has no relation to Newark, New Jersey-based Prudential Financial Inc. Descriptions of Jackson’s ownership structure were revised in prospectuses and statements of additional information as applicable.



2


IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT

FEES AND EXPENSESLOCATION IN PROSPECTUS
Charges for Early WithdrawalsIf you withdraw premium from your Contract within 7 years following the premium payment, you may be assessed a withdrawal charge. The maximum withdrawal charge is 8.5% of the amount of premium withdrawn. For example, if you make a withdrawal during the first year after a premium payment, you could pay a withdrawal charge of up to $8,500 on a $100,000 investment. The withdrawal charge then gradually declines each year, until the 7th year, after which no charge is made.Contract Charges- Withdrawal Charge
Transaction Charges
In addition to withdrawal charges, you also may be charged for other transactions, such as when you transfer cash value between investment options more than 25 times in a Contract Year, when you request an expedited delivery of your partial or complete withdrawal, or if you make a total withdrawal from your Contract after income payments have commenced under certain income options. In addition, for Contracts sold in certain states, you may be charged for premium taxes.Contract Charges- Transfer Fee, Commutation Fee
Ongoing Fees and Expenses
(annual charges)
The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract Data Pages for information about the specific fees you will pay each year based on the options you have elected.
Contract Charges- Optional Benefit Expenses;
Fees and Expenses Tables
ANNUAL FEEMINIMUMMAXIMUM
1. Base Contract
1.26%1
1.26%1
Fees and Expenses Tables - Periodic Expenses
2. Investment options (Fund fees and expenses)
0.52%2
2.01%2
Fees and Expenses Tables - Total Annual Fund Operating Expenses
3. Optional benefits available for an additional charge (for a single optional benefit, if elected)
0.30%3
1.60%3
Fees and Expenses Tables - Periodic Expenses
Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add surrender (withdrawal) charges that substantially increase costs.

1.    As a percentage of average daily account value of Investment Divisions.

2.    As a percentage of average Fund net assets.

3.    The minimum fee reflects an annualized percentage of the daily net account value of Investment Divisions. The maximum fee reflects an annualized percentage of the applicable benefit base. The foregoing benefit-based add-on benefits are no longer offered under the Contract. Because a Contract’s benefit base is different from its Contract value, the minimum and maximum fees cannot be directly compared to each other.

3


LOWEST ANNUAL COST: $1,650HIGHEST ANNUAL COST: $5,345
Assumes:
Investment of $100,000
5% annual appreciation
Least expensive combination of Fund fees and expenses
No add-on benefits
No sales charges
No additional purchase payments, transfers or withdrawals
Assumes:
Investment of $100,000
5% annual appreciation
Most expensive combination of add-on benefits, Fund fees, and expenses
No sales charges
No additional purchase payments, transfers or withdrawals
RISKSLocation in Prospectus
Risk of LossYou can lose money by investing in this Contract.The Annuity Contract
Not a
Short-Term Investment
This Contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash.
Withdrawal charges apply for up to 7 years following your last premium payment. To the extent they apply, they will reduce the value of your Contract if you withdraw money during that time. The benefits of tax deferral and living benefit protections also mean the Contract is more beneficial to investors with a long time horizon.
The Annuity Contract
Risks Associated with Investment Options
An investment in this Contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options you choose.
Each investment option (including the Fixed Account and the GMWB Fixed Account) has its own unique risks.
You should review the prospectuses for the available Funds before making an investment decision.
The Annuity Contract
Insurance Company Risks
Any obligations (including under the Fixed Account and the GMWB Fixed Account), guarantees, and benefits of the Contract are subject to the claims-paying ability of Jackson. More information about Jackson is available upon request from Jackson by calling 1-800-644-4565.
The Fixed Account and GMWB Fixed Account
RESTRICTIONS
Investments
We reserve the right to charge $25 for each transfer when you transfer money between Investment Divisions in excess of 25 times in a Contract Year.
Jackson may remove or substitute Funds as investment options available under the Contract, and may limit or suspend availability of the Fixed Account Options.
Investment Divisions
4


Optional Benefits
Certain benefits may limit withdrawals or other rights under the Contract. Under certain benefits, a withdrawal could reduce the value of a benefit by more than the dollar amount of the withdrawal.
Not all add-on benefits are available through all broker-dealers and may vary by state or date of purchase.
We may modify or discontinue an add-on benefit at any time.
Access To Your Money
TAXES
Tax Implications
Consult with a tax professional to determine the tax implications of an investment in and purchase payments received under this Contract.
If you purchase the Contract through a tax-qualified plan or individual retirement account (IRA), you do not get any additional tax deferral.
Earnings on your Contract are taxed at ordinary income tax rates when you withdraw them, and you may have to pay a penalty if you take a withdrawal before age 59 ½.
Taxes
CONFLICTS OF INTEREST
Investment
Professional
Compensation
Your registered representative or other investment professionals may receive compensation for selling this Contract to you in the form of commissions, revenue sharing, and other compensation programs. Accordingly, investment professionals may have a financial incentive to offer or recommend this Contract over another investment.Distribution of Contracts
ExchangesSome investment professionals may have a financial incentive to offer you a new contract in place of the one you own. You should only consider exchanging your contract if you determine, after comparing the features, fees, and risks of both contracts, that it is in your best interest to purchase the new contract rather than continue to own your existing contract. Distribution of Contracts
5


APPENDIX A

FUNDS AVAILABLE UNDER THE CONTRACT

The following is a list of Funds (all Class A shares) available under the Contract, which is subject to change, as discussed in the prospectus. Certain broker-dealers selling the Contracts may limit the Investment Divisions that are available to their customers. You can find the prospectuses and other information about the Funds online at connect.rightprospectus.com/Jackson. You can also request this information at no cost by calling 1-800-644-4565 or by sending an email request to ProspectusRequest@jackson.com.

The current expenses and performance information below reflects fees and expenses of the Funds, but does not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these charges were included. Each Fund’s past performance is not necessarily an indication of future performance.

Fund Type
Fund and Manager*
(and Sub-Adviser, if applicable)

* The investment manager for each Fund is Jackson National Asset Management, LLC
Current Expenses
Average Annual Total Returns
(as of 12/31/21)
1 Year5 Year10 Year
 
JNL/American Funds Balanced Fund1
    
Allocation
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
0.91%2
14.71%11.50%8.95%
 
JNL/American Funds Bond Fund of America Fund1,4
    
Domestic/Global Fixed-Income
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
0.81%2
-0.14%4.49%3.52%
 
JNL/American Funds Capital Income Builder Fund1
    
Allocation
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
0.95%2
14.53%N/AN/A
 
JNL/American Funds Capital World Bond Fund1
    
Domestic/Global Fixed-Income
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
1.07%2
-5.33%3.17%1.75%
 
JNL/American Funds Global Growth Fund1
    
Domestic/Global Equity
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
1.07%2
16.08%19.38%N/A
 
JNL/American Funds Global Small Capitalization Fund1
    
Domestic/Global Equity
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
1.24%2
6.38%15.10%12.17%
 
JNL/American Funds Growth Fund1
    
Domestic/Global Equity
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
0.91%2
21.61%25.02%N/A
 
JNL/American Funds Growth-Income Fund1
    
Domestic/Global Equity
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
0.92%2
23.65%15.95%14.95%
 
JNL/American Funds International Fund1
    
International
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
1.17%2
-1.82%9.22%7.71%
 
JNL/American Funds New World Fund1
    
International
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
1.25%2
4.46%12.78%8.23%
 
JNL/American Funds® Washington Mutual Investors Fund1
    
Domestic/Global Equity
(Investment Adviser to the Master Fund: Capital Research and Management CompanySM)
0.93%2
27.31%12.12%13.35%
A-1


Fund Type
Fund and Manager*
(and Sub-Adviser, if applicable)

* The investment manager for each Fund is Jackson National Asset Management, LLC
Current Expenses
Average Annual Total Returns
(as of 12/31/21)
1 Year5 Year10 Year
 JNL Multi-Manager Alternative Fund    
Alternative Strategies(Boston Partners Global Investors, Inc.; DoubleLine Capital LP; First Pacific Advisors, LP; Kayne Anderson Rudnick Investment Management, LLC; Lazard Asset Management LLC; Loomis, Sayles & Company, L.P.; Westchester Capital Management, LLC; and Western Asset Management Company, LLC)2.01%2.78%4.30%N/A
 JNL Multi-Manager Emerging Markets Equity Fund    
International(Kayne Anderson Rudnick Investment Management, LLC; T. Rowe Price Associates, Inc. (Sub-Sub-Adviser: T. Rowe Price Hong Kong Limited); WCM Investment Management, LLC; and Wellington Management Company LLP)1.22%0.08%6.16%4.12%
 JNL Multi-Manager International Small Cap Fund    
International(Baillie Gifford Overseas Limited; Causeway Capital Management LLC; and WCM Investment Management, LLC) 1.23%15.62%N/AN/A
 JNL Multi-Manager Mid Cap Fund    
Domestic/Global Equity(Champlain Investment Partners, LLC; ClearBridge Investments, LLC; Kayne Anderson Rudnick Investment Management, LLC; Nuance Investments, LLC; and Victory Capital Management Inc.)1.08%24.25%14.93%N/A
 JNL Multi-Manager Small Cap Growth Fund    
Domestic/Global Equity(BAMCO, Inc.; Granahan Investment Management, Inc.; Kayne Anderson Rudnick Investment Management, LLC; Segall Bryant & Hamill, LLC; Victory Capital Management Inc.; and WCM Investment Management, LLC) 0.96%2.92%20.61%14.66%
 JNL Multi-Manager Small Cap Value Fund    
Domestic/Global Equity(Congress Asset Management Company, LLP; Cooke & Bieler, L.P.; Reinhart Partners, Inc.; River Road Asset Management, LLC; and WCM Investment Management, LLC)1.07%22.99%9.05%10.59%
 JNL iShares Tactical Moderate Fund    
Allocation(Mellon Investments Corporation)0.81%7.64%7.14%N/A
 JNL iShares Tactical Moderate Growth Fund    
Allocation(Mellon Investments Corporation)0.84%11.32%9.41%N/A
 JNL iShares Tactical Growth Fund    
Allocation(Mellon Investments Corporation)0.86%15.04%11.25%N/A
 JNL/American Funds Moderate Growth Allocation Fund    
Allocation 0.99%9.96%11.06%N/A
 JNL/American Funds Growth Allocation Fund    
Allocation 1.01%13.64%13.94%N/A
 JNL/AB Sustainable Global Thematic Fund    
Domestic/Global Equity(AllianceBernstein L.P.)1.11%N/AN/AN/A
 JNL/AQR Large Cap Defensive Style Fund    
Domestic/Global Equity(AQR Capital Management, LLC)0.86%21.99%N/AN/A
 JNL/Baillie Gifford International Growth Fund    
International(Baillie Gifford Overseas Limited) 0.99%-6.97%N/AN/A
A-2


Fund Type
Fund and Manager*
(and Sub-Adviser, if applicable)

* The investment manager for each Fund is Jackson National Asset Management, LLC
Current Expenses
Average Annual Total Returns
(as of 12/31/21)
1 Year5 Year10 Year
 JNL/BlackRock Global Allocation Fund    
Allocation(BlackRock Investment Management, LLC)1.04%7.30%9.58%7.53%
 JNL/BlackRock Global Natural Resources Fund    
Alternative Assets(BlackRock International Limited)0.99%30.59%4.66%1.38%
 JNL/BlackRock Large Cap Select Growth Fund    
Domestic/Global Equity(BlackRock Investment Management, LLC)0.86%20.45%24.60%18.29%
 JNL/Causeway International Value Select Fund    
International(Causeway Capital Management LLC)0.97%8.50%7.69%5.93%
 JNL/ClearBridge Large Cap Growth Fund    
Domestic/Global Equity(ClearBridge Investments, LLC)0.94%21.17%N/AN/A
 JNL/DFA International Core Equity Fund    
International(Dimensional Fund Advisors LP)0.91%11.33%N/AN/A
 JNL/DFA U.S. Core Equity Fund    
Domestic/Global Equity(Dimensional Fund Advisors LP)0.80%26.88%16.13%14.81%
 JNL/DFA U.S. Small Cap Fund    
Domestic/Global Equity(Dimensional Fund Advisors LP)0.99%27.46%10.73%N/A
 
JNL/DoubleLine® Core Fixed Income Fund
    
Domestic/Global Fixed-Income(DoubleLine Capital LP)0.77%-0.43%3.43%2.99%
 
JNL/DoubleLine® Emerging Markets Fixed Income Fund
    
International Fixed-Income(DoubleLine Capital LP)1.07%0.74%3.81%N/A
 
JNL/DoubleLine® Shiller Enhanced CAPE® Fund
    
Domestic/Global Equity(DoubleLine Capital LP)1.00%24.01%17.24%N/A
 
JNL/DoubleLine® Total Return Fund
    
Domestic/Global Fixed-Income(DoubleLine Capital LP)0.82%-0.43%2.72%N/A
 
JNL/Fidelity Institutional Asset Management® Total Bond Fund
    
Domestic/Global Fixed-Income(FIAM LLC)0.78%-0.69%3.58%3.22%
 JNL/First Sentier Global Infrastructure Fund    
Alternative Assets(First Sentier Investors (Australia) IM Ltd)1.15%12.95%7.27%7.43%
 JNL/Franklin Templeton Income Fund    
Domestic/Global Equity(Franklin Advisers, Inc.)0.93%14.75%7.17%7.03%
 JNL/Goldman Sachs 4 Fund    
Domestic/Global Equity(Goldman Sachs Asset Management, L.P. and Mellon Investments Corporation)0.70%35.48%13.87%14.37%
 JNL/GQG Emerging Markets Equity Fund    
International(GQG Partners, LLC)1.36%-2.30%N/AN/A
 JNL/Harris Oakmark Global Equity Fund    
Domestic/Global Equity(Harris Associates L.P.)1.14%17.85%10.13%N/A
 JNL/Heitman U.S. Focused Real Estate Fund    
Alternative Assets(Heitman Real Estate Securities LLC)1.11%44.13%N/AN/A
A-3


Fund Type
Fund and Manager*
(and Sub-Adviser, if applicable)

* The investment manager for each Fund is Jackson National Asset Management, LLC
Current Expenses
Average Annual Total Returns
(as of 12/31/21)
1 Year5 Year10 Year
 JNL/Invesco Diversified Dividend Fund    
Domestic/Global Equity(Invesco Advisers, Inc.)0.98%18.65%N/AN/A
 JNL/Invesco Global Growth Fund    
Domestic/Global Equity(Invesco Advisers, Inc.)0.96%15.37%18.06%13.97%
 JNL/Invesco Small Cap Growth Fund    
Domestic/Global Equity(Invesco Advisers, Inc.)1.05%7.27%18.86%16.52%
 JNL/JPMorgan Global Allocation Fund    
Allocation(J.P. Morgan Investment Management Inc.)
1.06%2
8.89%8.66%N/A
 JNL/JPMorgan Hedged Equity Fund    
Alternative Strategies(J.P. Morgan Investment Management Inc.)0.97%12.94%N/AN/A
 JNL/JPMorgan MidCap Growth Fund    
Domestic/Global Equity(J.P. Morgan Investment Management Inc.)0.88%11.03%23.09%18.31%
 JNL/JPMorgan U.S. Government & Quality Bond Fund    
Domestic/Global Fixed-Income(J.P. Morgan Investment Management Inc.)0.68%-2.14%2.79%2.11%
 JNL/JPMorgan U.S. Value Fund    
Domestic/Global Equity(J.P. Morgan Investment Management Inc.)0.89%27.36%8.19%9.84%
 JNL/Lazard International Strategic Equity Fund    
International(Lazard Asset Management LLC)1.15%6.42%11.06%N/A
 JNL/Loomis Sayles Global Growth Fund    
Domestic/Global Equity(Loomis, Sayles & Company, L.P.)1.01%5.61%N/AN/A
 JNL/Lord Abbett Short Duration Income Fund    
Domestic/Global Fixed-Income(Lord, Abbett & Co. LLC)0.81%0.33%N/AN/A
 
JNL/Mellon DowSM Index Fund
    
Domestic/Global Equity(Mellon Investments Corporation)0.65%20.16%14.83%13.87%
 
JNL/Mellon Emerging Markets Index Fund3
    
International(Investment Sub-Adviser to the Master Fund: Mellon Investments Corporation)
0.73%2
-3.50%8.98%4.52%
 JNL/Mellon World Index Fund    
Domestic/Global Equity(Mellon Investments Corporation)0.66%21.17%14.53%11.56%
 
JNL/Mellon Nasdaq® 100 Index Fund
    
Domestic/Global Equity(Mellon Investments Corporation)0.64%26.70%27.80%22.26%
 JNL/Mellon S&P 500 Index Fund    
Domestic/Global Equity(Mellon Investments Corporation)0.52%28.09%17.87%15.94%
 
JNL/Mellon S&P 400 MidCap Index Fund3
    
Domestic/Global Equity(Investment Sub-Adviser to the Master Fund: Mellon Investments Corporation)
0.57%2
24.13%12.49%13.62%
 
JNL/Mellon Small Cap Index Fund3
    
Domestic/Global Equity(Investment Sub-Adviser to the Master Fund: Mellon Investments Corporation)
0.57%2
26.12%11.91%13.48%
A-4


Fund Type
Fund and Manager*
(and Sub-Adviser, if applicable)

* The investment manager for each Fund is Jackson National Asset Management, LLC
Current Expenses
Average Annual Total Returns
(as of 12/31/21)
1 Year5 Year10 Year
 
JNL/Mellon International Index Fund3
    
International(Investment Sub-Adviser to the Master Fund: Mellon Investments Corporation)
0.62%2
10.47%9.19%7.61%
 
JNL/Mellon Bond Index Fund3
    
Domestic/Global Fixed-Income(Investment Sub-Adviser to the Master Fund: Mellon Investments Corporation)
0.58%2
-2.17%2.97%2.29%
 JNL/Mellon U.S. Stock Market Index Fund    
Domestic/Global Equity(Mellon Investments Corporation)0.61%25.35%N/AN/A
 JNL/Mellon Communication Services Sector Fund    
Sector(Mellon Investments Corporation)0.65%15.64%12.30%13.29%
 JNL/Mellon Consumer Discretionary Sector Fund    
Sector(Mellon Investments Corporation)0.64%22.54%22.48%19.59%
 JNL/Mellon Consumer Staples Sector Fund    
Sector(Mellon Investments Corporation)0.66%16.28%N/AN/A
 JNL/Mellon Energy Sector Fund    
Sector(Mellon Investments Corporation)0.64%54.69%-2.97%-0.16%
 JNL/Mellon Financial Sector Fund    
Sector(Mellon Investments Corporation)0.64%29.34%11.13%14.74%
 JNL/Mellon Healthcare Sector Fund    
Sector(Mellon Investments Corporation)0.63%20.20%17.15%16.81%
 JNL/Mellon Industrials Sector Fund    
Sector(Mellon Investments Corporation)0.66%20.92%N/AN/A
 JNL/Mellon Information Technology Sector Fund    
Sector(Mellon Investments Corporation)0.62%33.21%31.08%22.72%
 JNL/Mellon Materials Sector Fund    
Sector(Mellon Investments Corporation)0.67%28.39%N/AN/A
 JNL/Mellon Real Estate Sector Fund    
Sector(Mellon Investments Corporation)0.66%38.76%N/AN/A
 JNL/Mellon Utilities Sector Fund    
Sector(Mellon Investments Corporation)0.66%16.77%10.70%N/A
 JNL/MFS Mid Cap Value Fund    
Domestic/Global Equity(Massachusetts Financial Services Company (d/b/a MFS Investment Management))0.95%30.53%12.12%12.50%
 JNL/Morningstar U.S. Sustainability Index Fund    
Domestic/Global Equity(Mellon Investments Corporation)0.71%30.63%N/AN/A
 JNL/Morningstar Wide Moat Index Fund    
Domestic/Global Equity(Mellon Investments Corporation)0.76%23.89%N/AN/A
 JNL/Neuberger Berman Strategic Income Fund    
Domestic/Global Fixed-Income(Neuberger Berman Investment Advisers LLC)0.93%2.65%4.56%N/A
 JNL/Newton Equity Income Fund    
Domestic/Global Equity(Newton Investment Management North America, LLC)0.91%32.77%12.83%N/A
 JNL/PIMCO Income Fund    
Domestic/Global Fixed-Income(Pacific Investment Management Company LLC)0.93%1.99%N/AN/A
A-5


Fund Type
Fund and Manager*
(and Sub-Adviser, if applicable)

* The investment manager for each Fund is Jackson National Asset Management, LLC
Current Expenses
Average Annual Total Returns
(as of 12/31/21)
1 Year5 Year10 Year
 JNL/PIMCO Investment Grade Credit Bond Fund    
Domestic/Global Fixed-Income(Pacific Investment Management Company LLC)0.73%-1.62%5.35%N/A
 JNL/PIMCO Real Return Fund    
Domestic/Global Fixed-Income(Pacific Investment Management Company LLC)0.81%5.40%5.12%2.90%
 JNL/PPM America Floating Rate Income Fund    
Domestic/Global Fixed-Income(PPM America, Inc.)0.95%3.73%2.81%3.41%
 JNL/PPM America High Yield Bond Fund    
Domestic/Global Fixed-Income(PPM America, Inc.)0.74%5.75%5.33%5.98%
 JNL/PPM America Total Return Fund    
Domestic/Global Fixed-Income(PPM America, Inc.)0.78%-1.15%4.24%4.20%
 
JNL/RAFI® Fundamental U.S. Small Cap Fund
    
Domestic/Global Equity(Mellon Investments Corporation)0.67%30.24%3.90%9.56%
 
JNL/RAFI® Multi-Factor U.S. Equity Fund
    
Domestic/Global Equity(Mellon Investments Corporation)0.67%26.39%11.89%12.69%
 JNL/T. Rowe Price Balanced Fund    
Allocation(T. Rowe Price Associates, Inc.; Sub-Sub-Adviser: T. Rowe Price Investment Management, Inc.)1.00%12.73%10.80%N/A
 JNL/T. Rowe Price Capital Appreciation Fund    
Domestic/Global Equity(T. Rowe Price Associates, Inc.; Sub-Sub-Adviser: T. Rowe Price Investment Management, Inc.)0.96%17.89%14.64%N/A
 JNL/T. Rowe Price Established Growth Fund    
Domestic/Global Equity(T. Rowe Price Associates, Inc.)0.83%14.43%22.06%18.48%
 JNL/T. Rowe Price Mid-Cap Growth Fund    
Domestic/Global Equity(T. Rowe Price Associates, Inc.; Sub-Sub-Adviser: T. Rowe Price Investment Management, Inc.)0.96%12.91%17.37%15.97%
 JNL/T. Rowe Price Short-Term Bond Fund    
Domestic/Global Fixed-Income(T. Rowe Price Associates, Inc.)0.71%-0.38%1.96%1.45%
 JNL/T. Rowe Price U.S. High Yield Fund    
Domestic/Global Fixed-Income(T. Rowe Price Associates, Inc.; Sub-Sub-Adviser: T. Rowe Price Investment Management, Inc.)0.94%4.82%4.15%N/A
 JNL/T. Rowe Price Value Fund    
Domestic/Global Equity(T. Rowe Price Associates, Inc.)0.86%29.55%14.10%14.58%
 JNL/Vanguard Moderate ETF Allocation Fund    
Allocation(Mellon Investments Corporation)0.70%6.38%N/AN/A
 JNL/Vanguard Moderate Growth ETF Allocation Fund    
Allocation(Mellon Investments Corporation)0.70%10.36%N/AN/A
 JNL/Vanguard Growth ETF Allocation Fund    
Allocation(Mellon Investments Corporation)0.69%14.31%N/AN/A
 JNL/WCM Focused International Equity Fund    
International(WCM Investment Management, LLC)1.11%17.08%20.50%N/A
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Fund Type
Fund and Manager*
(and Sub-Adviser, if applicable)

* The investment manager for each Fund is Jackson National Asset Management, LLC
Current Expenses
Average Annual Total Returns
(as of 12/31/21)
1 Year5 Year10 Year
 JNL/Westchester Capital Event Driven Fund    
Alternative Strategies(Westchester Capital Management, LLC)1.66%2.96%6.27%N/A
 JNL/Western Asset Global Multi-Sector Bond Fund    
Domestic/Global Fixed-Income(Western Asset Management Company, LLC; Sub-Sub-Advisers: Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd.)1.00%-4.33%-1.22%1.28%
 JNL/William Blair International Leaders Fund    
International(William Blair Investment Management, LLC)0.97%6.20%10.13%8.03%
 JNL/WMC Balanced Fund    
Domestic/Global Equity(Wellington Management Company LLP)0.71%18.68%11.15%10.40%
 JNL/WMC Equity Income Fund    
Domestic/Global Equity(Wellington Management Company LLP)0.89%25.65%N/AN/A
 JNL/WMC Global Real Estate Fund    
Alternative Assets(Wellington Management Company LLP)1.04%26.67%7.07%8.03%
 JNL/WMC Government Money Market Fund    
Domestic/Global Fixed-Income(Wellington Management Company LLP)
0.37%2
0%0.60%0.30%
 JNL/WMC Value Fund    
Domestic/Global Equity(Wellington Management Company LLP)0.78%26.98%11.18%12.22%
 JNL/Goldman Sachs Managed Conservative Fund    
Allocation(Goldman Sachs Asset Management, L.P.)1.02%3.72%5.52%4.72%
 JNL/Goldman Sachs Managed Moderate Fund    
Allocation(Goldman Sachs Asset Management, L.P.)1.04%6.76%8.14%6.99%
 JNL/Goldman Sachs Managed Moderate Growth Fund    
Allocation(Goldman Sachs Asset Management, L.P.)1.06%10.84%10.98%9.28%
 JNL/Goldman Sachs Managed Growth Fund    
Allocation(Goldman Sachs Asset Management, L.P.)1.08%14.47%13.99%11.76%
 JNL/Goldman Sachs Managed Aggressive Growth Fund    
Allocation(Goldman Sachs Asset Management, L.P.)1.11%16.32%15.29%12.83%
 JNL Conservative Allocation Fund    
Allocation 1.11%3.75%5.57%N/A
 JNL Moderate Allocation Fund    
Allocation 1.12%7.40%7.73%N/A
 JNL Moderate Growth Allocation Fund    
Allocation 1.14%10.26%9.70%8.87%
 JNL Growth Allocation Fund    
Allocation 1.17%13.13%11.73%10.45%
 JNL Aggressive Growth Allocation Fund    
Allocation 1.19%15.42%12.97%11.20%

1Capital Research and Management Company is the investment adviser of the master fund in which this feeder fund invests. Under the master-feeder fund structure, the feeder fund does not buy individual securities directly. Rather, the feeder fund invests all of its investment assets in a corresponding master fund, which invests directly in individual securities.
2The Fund’s current expenses reflect temporary fee reductions.
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3Mellon Investments Corporation is the investment sub-adviser of the master fund in which this feeder fund invests. Under the master-feeder fund structure, the feeder fund does not buy individual securities directly. Rather, the feeder fund invests all of its investment assets in a corresponding master fund, which invests directly in individual securities.
4The performance displayed is that of the Master Fund. Performance for the Fund has not been included because the Fund has less than one full calendar year of operations.
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The EDGAR contract identifier for the Contract is: #C000101314
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