485BPOS 1 four85bpiibetween.htm

As filed with the Securities and Exchange Commission on April 21, 2015
Commission File Nos.  333-178774
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.  12
[X]
   
and/or


REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 
Amendment No.  498
[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:
Frank J. Julian, Esq., Assistant Vice President, Legal
Jackson National Life Insurance Company, 1 Corporate Way, Lansing, MI 48951



Approximate Date of Proposed Public Offering:
   
It is proposed that this filing will become effective (check appropriate box)
[   ]
immediately upon filing pursuant to paragraph (b)
[X]
on April 27, 2015 pursuant to paragraph (b)
[   ]
60 days after filing pursuant to paragraph (a)(1)
[   ]
on (date) pursuant to paragraph (a)(1).
 
If appropriate, check the following box:
[  ]
this post-effective amendment designates a new effective date for a previously filed post-effective amendment
 
Title of Securities Being Registered: the variable portion of Flexible Premium Fixed and Variable Deferred Annuity contracts



 
PERSPECTIVE II®
FLEXIBLE PREMIUM FIXED AND VARIABLE DEFERRED ANNUITY
(Contracts offered for sale between April 30, 2012 and September 10, 2012)

Issued by
Jackson National Life Insurance Company® through
Jackson National Separate Account – I

The date of this prospectus is April 2 7 , 2015.  This prospectus states the information about the separate account, the Contract, and Jackson National Life Insurance Company (“Jackson®”) you should know before investing.  This prospectus is a disclosure document and describes all of the Contract’s material features, benefits, rights, and obligations.  The description of the Contract’s material provisions in this prospectus is current as of the date of this prospectus.  If certain material provisions under the Contract are changed after the date of this prospectus, in accordance with the Contract, those changes will be described in a supplemented prospectus.  You should carefully read this prospectus in conjunction with any applicable supplements.  It is important that you also read the Contract and endorsements, which may reflect additional non-material state variations or other non-material variations.  This information is meant to help you decide if the Contract will meet your needs.  Please carefully read this prospectus and any related documents and keep everything together for future reference.  Additional information about the separate account can be found in the statement of additional information (“SAI”) dated April 27, 2015 that is available upon request without charge.  To obtain a copy, contact us at our:
 
 
Annuity Service Center
 
P.O. Box 30314
 
Lansing, Michigan 48909-7814
 
1-800-644-4565
 
www.jackson.com

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

Expenses for a Contract with a Contract Enhancement will be higher than those for a Contract without a Contract Enhancement, and in some cases the amount of a Contract Enhancement may be more than offset by those expenses.

We offer other variable annuity products with different product features, benefits and charges.  In some states, you may purchase the Contract through an automated electronic transmission/order ticket verification procedure.  Ask your representative about availability and the details.

The SAI is incorporated by reference into this prospectus, and its table of contents appears on page 150.  The prospectus and SAI are part of the registration statement that we filed with the Securities and Exchange Commission (“SEC”) about this securities offering.  The registration statement, material incorporated by reference, and other information is available on the website the SEC maintains (http://www.sec.gov) regarding registrants that make electronic filings.

Jackson is relying on SEC Rule 12h-7, which exempts insurance companies from filing periodic reports under the Securities Exchange Act of 1934 with respect to variable annuity contracts that are registered under the Securities Act of 1933 and regulated as insurance under state law.
 
Neither the SEC nor any state securities commission has approved or disapproved these securities or passed upon the adequacy of this prospectus. It is a criminal offense to represent otherwise. We do not intend for this prospectus to be an offer to sell or a solicitation of an offer to buy these securities in any state where this is not permitted.
 
• Not FDIC/NCUA insured • Not Bank/CU guaranteed • May lose value • Not a deposit • Not insured by any federal agency
 
 
The Contract makes available for investment fixed and variable options.  The fixed options will have limited availability if you elect a Contract Enhancement. The variable options are Investment Divisions of the Separate Account, each of which invests in one of the following F unds – all class A shares:

JNL Series Trust
    
     
JNL/American Funds® Blue Chip Income and Growth Fund
  
JNL/Morgan Stanley Mid Cap Growth Fund
JNL/American Funds Global Bond Fund
  
JNL/Neuberger Berman Strategic Income Fund
JNL/American Funds Global Small Capitalization Fund
  
JNL/Oppenheimer Global Growth Fund
JNL/American Funds Growth-Income Fund
  
JNL/PIMCO Real Return Fund
JNL/American Funds International Fund
  
JNL/PIMCO Total Return Bond Fund
JNL/American Funds New World Fund
  
JNL/PPM America Floating Rate Income Fund
JNL Institutional Alt 20 Fund
  
JNL/PPM America High Yield Bond Fund
JNL Institutional Alt 35 Fund
  
JNL/PPM America Mid Cap Value Fund
JNL Institutional Alt 50 Fund
  
JNL/PPM America Small Cap Value Fund
JNL/American Funds Balanced Allocation Fund
  
JNL/PPM America Value Equity Fund
JNL/American Funds Growth Allocation Fund
  
JNL/T. Rowe Price Established Growth Fund
JNL/BlackRock Commodity Securities Strategy Fund
  
JNL/T. Rowe Price Mid-Cap Growth Fund
JNL/BlackRock Global Allocation Fund
  
JNL/T. Rowe Price Short-Term Bond Fund
JNL/BlackRock Large Cap Select Growth Fund
  
JNL/T. Rowe Price Value Fund
JNL/Brookfield Global Infrastructure and MLP Fund
  
JNL/WMC Balanced Fund
JNL/Capital Guardian Global Balanced Fund
  
JNL/WMC Money Market Fund
JNL/Capital Guardian Global Diversified Research Fund
  
JNL/WMC Value Fund
JNL/DFA U.S. Core Equity Fund
  
JNL/S&P Competitive Advantage Fund
JNL/Eagle SmallCap Equity Fund
  
JNL/S&P Dividend Income & Growth Fund
JNL/Eastspring Investments Asia ex-Japan Fund
  
JNL/S&P Intrinsic Value Fund
JNL/Eastspring Investments China-India Fund
  
JNL/S&P Total Yield Fund
JNL/Franklin Templeton Founding Strategy Fund
  
JNL/S&P Mid 3 Fund
JNL/Franklin Templeton Global Growth Fund
  
JNL/S&P 4 Fund
JNL/Franklin Templeton Global Multisector Bond Fund
  
JNL/S&P Managed Conservative Fund
JNL/Franklin Templeton Income Fund
  
JNL/S&P Managed Moderate Fund
JNL/Franklin Templeton International Small Cap
  
JNL/S&P Managed Moderate Growth Fund
Growth Fund
  
JNL/S&P Managed Growth Fund
JNL/Franklin Templeton Mutual Shares Fund
  
JNL/S&P Managed Aggressive Growth Fund
JNL/Franklin Templeton Small Cap Value Fund
  
JNL Disciplined Moderate Fund
JNL/Goldman Sachs Core Plus Bond Fund
  
JNL Disciplined Moderate Growth Fund
JNL/Goldman Sachs Mid Cap Value Fund
  
JNL Disciplined Growth Fund
JNL/Goldman Sachs U.S. Equity Flex Fund
    
JNL/Invesco Global Real Estate Fund
  
JNL Investors Series Trust
JNL/Invesco International Growth Fund
    
JNL/Invesco Large Cap Growth Fund
  
JNL/PPM America Total Return Fund
JNL/Invesco Mid Cap Value Fund
    
JNL/Invesco Small Cap Growth Fund
  
JNL Variable Fund LLC
JNL/Ivy Asset Strategy Fund
    
JNL/JPMorgan International Value Fund
  
JNL/Mellon Capital DowSM 10 Fund
JNL/JPMorgan MidCap Growth Fund
  
JNL/Mellon Capital Global 15 Fund
JNL/JPMorgan U.S. Government & Quality Bond Fund
  
JNL/Mellon Capital Nasdaq® 25 Fund
JNL/Mellon Capital 10 x 10 Fund
  
JNL/Mellon Capital S&P® 24 Fund
JNL/Mellon Capital Index 5 Fund
  
JNL/Mellon Capital S&P® SMid 60 Fund
JNL/Mellon Capital Emerging Markets Index Fund
  
JNL/Mellon Capital 25 Fund
JNL/Mellon Capital European 30 Fund
  
JNL/Mellon Capital JNL 5 Fund
JNL/Mellon Capital Pacific Rim 30 Fund
  
JNL/Mellon Capital Communications Sector Fund *
JNL/Mellon Capital S&P 500 Index Fund
   JNL/Mellon Capital Consumer Brands Sector Fund
JNL/Mellon Capital S&P 400 MidCap Index Fund
  
JNL/Mellon Capital Financial Sector Fund
JNL/Mellon Capital Small Cap Index Fund
  
JNL/Mellon Capital Healthcare Sector Fund
JNL/Mellon Capital International Index Fund
  
JNL/Mellon Capital Oil & Gas Sector Fund
JNL/Mellon Capital Bond Index Fund
  
JNL/Mellon Capital Technology Sector Fund
JNL/Mellon Capital Dow Jones U.S. Contrarian
    
Opportunities Index Fund
    

Underscored are the Funds that are newly available. The Funds are not the same mutual funds that you would buy directly from a retail mutual fund or through your stockbroker.  The prospectuses for the Funds are attached to this prospectus.
 

*Effective September 15, 2014, the Investment Division investing in the JNL/Mellon Capital Communications Sector Fund stopped accepting any additional allocations or transfers , but the Fund is available as an underlying Fund for a Fund of Funds.  Please see “Investment Divisions” on page 16 for more information.

In addition, the following two Previously Offered Funds merged into the corresponding Currently Offered Funds effective April 27, 2015:

Previously Offered Funds
Currently Offered Funds
JNL/Mellon Capital Value Line® 30 Fund
JNL/Mellon Capital S&P® 24 Fund
JNL/Mellon Capital JNL Optimized 5 Fund
JNL/Mellon Capital JNL 5 Fund

If you have Contract Value that was transferred to an Investment Division investing in a Currently Offered Fund as a result of a merger, you may transfer all or a portion of your Contract Value out of such Investment Division into the other investment options available under your Contract. If the transfer is completed within 60 days following April 27, 2015, the transfer will not be assessed a transfer charge or be treated as a transfer for the purpose of determining how many subsequent transfers may be made in a Contract Year without charge.

 
TABLE OF CONTENTS
     
 
1
     
 
3
     
 
4
 
4
 
5
 
8
     
 
11
     
 
11
     
 
12
     
 
12
     
 
13
 
13
 
15
     
 
16
     
 
16
 
17
 
28
 
28
 
30
 
30
     
 
30
 
30
 
31
 
31
 
31
 
31
 
33
 
33
 
33
 
35
 
36
 
36
 
37
 
38
 
39
 
40
 
42
 
43
 
44
 
45
 
45
 
45
 
45
 
45
 
 
 
45
     
 
45
     
 
47
 
47
 
47
 
47
 
48
 
48
 
51
 
51
     
 
52
 
52
 
53
     
 
54
 
54
 
54
 
54
 
54
 
54
     
 
55
 
56
 
56
 
56
 
56
 
57
 
59
 
64
 
67
 
70
 
80
 
92
 
105
 
106
 
117
 
129
 
135
 
135
     
 
135
 
136
 
136
     
 
137
 
137
 
137
 
138
 
139
 
140
 
 
 
140
 
142
 
144
 
144
 
144
 
145
 
145
     
 
145
 
145
 
145
 
145
 
145
 
145
 
146
 
146
 
146
 
146
 
147
 
147
 
147
 
147
 
147
 
147
 
147
 
148
     
 
148
 
148
 
148
 
149
 
149
 
149
 
149
 
150
 
150
 
150
 
150
     
 
150
     
 
A-1
     
 
B-1
     
 
C-1
     
 
D-1
     
 
E-1
     
 
F-1
     
 
G -1

 
 
These terms are capitalized when used throughout this prospectus because they have special meaning.  In reading this prospectus, please refer back to this glossary if you have any questions about these terms.
 
Accumulation Unit – a unit of measure we use to calculate the value in an Investment Division prior to the Income Date.
 
Annuitant – the natural person on whose life annuity payments for this Contract are based.  The Contract allows for the naming of joint Annuitants.  Any reference to the Annuitant includes any joint Annuitant.
 
Annuity Unit – a unit of measure we use in calculating the value of a variable annuity payment on and after the Income Date.
 
Beneficiary – the natural person or legal entity designated to receive any Contract benefits upon the Owner’s death.  The Contract allows for the naming of multiple Beneficiaries.
 
Business Day – each day that the New York Stock Exchange is open for business.
 
Completed Year – the succeeding twelve months from the date on which we receive a Premium payment.  Completed Years specify the years from the date of receipt of the Premium and does not refer to Contract Years.  If the Premium receipt date is on the Issue Date of the Contract then Completed Year 0-1 does not include the first Contract Anniversary.  The first Contract Anniversary begins Completed Year 1-2 and each successive Completed Year begins with the Contract Anniversary of the preceding Contract Year and ends the day before the next Contract Anniversary.
 
If the Premium receipt date is other than the Issue Date or a subsequent Contract Anniversary, there is no correlation of the Contract Anniversary date and Completed Years.  For example, if the Issue Date is January 15, 201 6 and a Premium payment is received on February 28, 201 6 then, although the first Contract Anniversary is January 15, 201 7 , Completed Year 0-1 for that Premium payment would begin on February 28, 201 6 and end on February 27, 201 7 .  Completed Year 1-2 for that Premium payment would begin on February 28, 201 7 .
 
Contract – the individual deferred variable and fixed annuity contract and any optional endorsements you may have selected.
 
Contract Anniversary – each one-year anniversary of the Contract’s Issue Date.
 
Contract Enhancement – a credit that we will make to your Contract Value at the end of any Business Day in the first seven Contract Years (five Contract Years for the 2% Contract Enhancement) during which we receive a Premium payment.  The Contract Enhancement endorsements available are the 2% Contract Enhancement endorsement, 3% Contract Enhancement endorsement, 4% Contract Enhancement endorsement, or 5% Contract Enhancement endorsement.  The actual Contract Enhancement percentage applied to the Premium payment varies, depending upon which Contract Enhancement you have elected and the Contract Year in which you make your payment.
  
Contract Month – the period of time between consecutive monthly anniversaries of the Contract’s Issue Date.
 
Contract Monthly Anniversary – each one-month anniversary of the Contract’s Issue Date.
 
Contract Quarter – the period of time between consecutive three-month anniversaries of the Contract’s Issue Date.
 
Contract Quarterly Anniversary – each three-month anniversary of the Contract’s Issue Date.
 
Contract Value – the sum of the allocations between the Contract’s Investment Divisions, Fixed Account and Guaranteed Minimum Withdrawal Benefit (GMWB) Fixed Account.
 
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, 201 6 , then the end of Contract Year 0-1 would be January 14, 201 7 , and January 15, 201 7 , which is the first Contract Anniversary, begins Contract Year 1-2.
 
Earnings Protection Benefit – an optional benefit available at issue that may increase the amount of the death benefit payable at death.
 
Excess Interest Adjustment – an adjustment to the Contract Value allocated to the Fixed Account that is withdrawn, transferred, or annuitized before the end of the period.
 
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 Contract Value – the sum of the allocations between the Contract’s 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 management 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.
 

1

GLOSSARY
 
Good Order – when our administrative requirements, including all information, documentation and instructions deemed necessary by us, in our sole discretion, are met in order to issue a Contract or execute any requested transaction pursuant to the terms of the Contract.
 
Guaranteed Minimum Withdrawal Benefit (GMWB) Fixed Account – part of our General Account to and from which, if you elect a GMWB containing a Transfer of Assets provision (the Jackson Select Protector GMWB contains a Transfer of Assets provision), 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.
 
GMWB Fixed Account Contract Value – the sum of the allocations to the Contract’s GMWB Fixed Account.
 
Income Date – the date on which you begin receiving annuity payments.
 
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.
 
Jackson, JNL, we, our, or us – Jackson National Life Insurance Company.  (We do not capitalize “we,” “our,” or “us” in the prospectus.)
 
Latest Income Date – the Contract Anniversary on or next following the date on which the Owner attains age 95 under a non-qualified contract, or such earlier date as required by the applicable qualified plan, law or regulation.
 
Owner, you or your – the natural person or legal entity entitled to exercise all rights and privileges under the Contract.  Usually, but not always, the Owner is the Annuitant.  The Contract allows for the naming of joint Owners.  (We do not capitalize “you” or “your” in the prospectus.)  Any reference to the Owner includes any joint Owner.
 
Premium(s) – considerations paid into the Contract by or on behalf of the Owner.  The maximum aggregate Premium payments you may make without prior approval is $1 million.  This maximum amount is subject to further limitations at any time on both initial and subsequent Premium payments.
 
Remaining Premium – the total Premium paid reduced by withdrawals that incur withdrawal and/or recapture charges, and withdrawals of Premiums that are no longer subject to withdrawal and/or recapture charges.
 
  
Required Minimum Distributions (RMDs) – For certain qualified contracts, the amount defined under the Internal Revenue Code as the minimum distribution requirement as applied to your Contract only.  This definition excludes any withdrawal necessary to satisfy the minimum distribution requirements of the Internal Revenue Code if the Contract is purchased with contributions from a nontaxable transfer after the death of the owner of a qualified contract.  Different rules apply for the MarketGuard Stretch GMWB as described in the “MarketGuard Stretch GMWB” section.
 
Separate Account – Jackson National Separate Account – I.  The Separate Account is divided into sub-accounts generally referred to as Investment Divisions.
 
Separate Account Contract Value – the sum of the allocations between the Contract’s Investment Divisions.
 
 
2
 
 
The immediately following two sections briefly introduce the Contract (and its benefits and features) and its costs; however, please carefully read the whole prospectus and any related documents before purchasing the Contract to be sure that it will meet your needs.

 
Allocation Options
The Contract makes available Investment Divisions and a Fixed Account for allocation of your Premium payments and Contract Value.  In addition, if you elect a GMWB containing a Transfer of Assets provision, automatic transfers of your Contract Value may be allocated to a GMWB Fixed Account.  For more information about the fixed accounts, please see “THE FIXED ACCOUNT AND GMWB FIXED ACCOUNT” beginning on page 13.  For more information about the Investment Divisions, please see “INVESTMENT DIVISIONS” beginning on page 16.
     
 
Investment Purpose
The Contract is intended to help you save for retirement or another long-term investment purpose.  The Contract is designed to provide tax deferral on your earnings, if it is not issued under a qualified retirement plan.  Qualified plans confer their own tax deferral.  For more information, please see “TAXES” beginning on page 145.
     
 
Free Look
If you change your mind about having purchased the Contract, you may return it without penalty.  There are conditions and limitations, including time limitations, depending on where you live.  For more information, please see “Free Look” beginning on page 149.  In some states, we are required to hold the Premiums of a senior citizen in the Fixed Account during the free look period, unless we are specifically directed to allocate the Premiums to the Investment Divisions.  State laws vary; your free look rights will depend on the laws of the state in which you purchased the Contract.
     
 
Purchases
There are minimum and maximum Premium requirements.  The Contract also has a Premium protection option, namely the Capital Protection Program.    For more information about this option, please see “PURCHASES” beginning on page 47.
     
 
Optional Endorsements
Not all optional endorsements are available in all states or through all broker-dealers.  The availability of optional endorsements may reflect state prohibitions and variations, Jackson’s reservation of the right not to offer certain optional endorsements, and broker-dealer selections.  The representative assisting you will advise you whether an optional benefit is available and of any variations. Optional endorsement provisions may vary depending on when you purchased your Contract or elected your endorsement.  Please refer to your Contract endorsements for the provisions that apply to you.
     
 
Withdrawals
Before the Income Date, there are a number of ways to access your Contract Value, generally subject to a charge or adjustment, particularly during the early Contract Years.  There are also a number of optional withdrawal benefits available.  The Contract has a free withdrawal provision and waives the charges and adjustments in the event of some unforeseen emergencies.  For more information, please see “ACCESS TO YOUR MONEY” beginning on page 55.
     
 
Income Payments
There are a number of income options available.  For more information, please see “INCOME PAYMENTS (THE INCOME PHASE)” beginning on page 135.
     
 
Death Benefit
The Contract has a death benefit that becomes payable if you die before the Income Date.  There are also a number of optional death benefits available.  For more information, please see “DEATH BENEFIT” beginning on page 137.

 
Contract Charges
 
Various charges apply under the Contract as summarized in the “FEES AND EXPENSES TABLES” below.  If the Contract Value is insufficient to pay the charges under the Contract, the Contract will terminate without value, unless you are eligible for continued payments under a Guaranteed Minimum Withdrawal Benefit.
 
3
 

The following tables describe the fees and expenses that you will pay when purchasing, owning and surrendering the Contract.  The first table (and footnotes) describes the fees and expenses that you will pay at the time that you purchase the Contract, surrender the Contract or transfer cash value between investment options.  Fees and expenses also may apply after the Income Date.  For more information, please see “Commutation Fee” on page 45, and “INCOME PAYMENTS (THE INCOME PHASE)” beginning on page 135.

 
       
 
Front-end Sales Load
None
  
       
 
Maximum Withdrawal Charge 1
    
   
Percentage of Premium withdrawn, if applicable
8.5%
  
       
 
Maximum Contract Enhancement Recapture Charge 2
    
   
Percentage of the corresponding Premiums withdrawn with a Contract Enhancement
4.5%
  
       
 
Maximum Premium Taxes 3
    
   
Percentage of each Premium
3.5%
  
     
 
Transfer Charge 4
    
   
Per transfer after 15 in a Contract Year
$25
  
       
 
Expedited Delivery Charge 5
$22.50
  
       

1
The withdrawal charge is a schedule lasting seven Completed Years as shown in the table below, and there is an optional withdrawal charge schedule (that is shorter) available (state variations may apply), also shown in the table below:
 
Withdrawal Charge (as a percentage of Premium payments)
 
 
Completed Years Since Receipt Of Premium
          
   
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
 
Base
Schedule
8.5%
7.5%
6.5%
5.5%
5%
4%
2%
0
 
Five-year
Schedule
8%
7%
6%
4%
2%
0
0
0
                   
 
For more information about withdrawal charges, please see “Withdrawal Charge” under “Contract Charges” beginning on page 31.
 
2
For more information about recapture charges, please see “Contract Enhancement Recapture Charge” under “Contract Charges”, beginning on page 33.
 
3      Premium taxes generally range from 0 to 3.5% and vary by state.
 
4      We do not count transfers in conjunction with dollar cost averaging, earnings sweep, automatic rebalancing, and periodic automatic transfers.
 
5
For overnight delivery on Saturday; otherwise, the overnight delivery charge is $10 for withdrawals.  We also charge $20 for wire transfers in connection with withdrawals.
 
4
 
The next table (and footnotes) describes the fees and expenses that you will pay periodically during the time that you own the Contract, not including the Funds’ fees and expenses.

 
 
 
Base Contract
  
     
 
Annual Contract Maintenance Charge 6
$35      
  
     
 
Separate Account Annual Expenses
    
   
Annual percentage of average daily account value of Investment Divisions
    
     
   
Mortality And Expense Risk Charge
1.10%   
  
         
   
Administration Charge 7
0.15%   
  
         
       
 
Total Separate Account Annual Expenses for Base Contract
1.25%   
  
       

     
 
Optional Endorsements - A variety of optional endorsements to the Contract are available.  The optional endorsements listed below include endorsements and applicable charges for endorsements that were previously sold but are not currently available to be added to a Contract.  Please see the footnotes for additional information on the various optional endorsement charges.
  
     
     
 
The following optional endorsement charges are based on average daily net asset value.  You may select one from each grouping below8:
  
     
   
Earnings Protection Benefit Maximum Annual Charge (“EarningsMax®”) 9
0.45%
    
     
   
5% Contract Enhancement Maximum Annual Charge (not currently offered as of October 15, 2012) 10
0.695%
    
   
4% Contract Enhancement Maximum Annual Charge (not currently offered as of October 15, 2012) 10
0.56%
    
   
3% Contract Enhancement Maximum Annual Charge (not currently offered as of October 15, 2012) 10
0.42%
    
   
2% Contract Enhancement Maximum Annual Charge (not currently offered as of October 15, 2012) 11
0.395%
    
       
   
Five-year Withdrawal Schedule Maximum Annual Charge
0.30%
    
       
   
20% Additional Free Withdrawal Maximum Annual Charge
0.30%
    
       
       
 
     
 
The following optional death benefit endorsement charges are benefit based.  Please see the footnotes for additional information on the various optional death benefit endorsement charges.  You may select one of the available benefits listed below8:
  
     
 
Benefit Based Charges
      
 
5% Roll-up Death Benefit Maximum Annual Charge 12
  
1.20%
  
 
Highest Quarterly Anniversary Value Death Benefit Maximum Annual Charge 13
  
0.60%
  
 
Combination 5% Roll-up and Highest Quarterly Anniversary Value Death Benefit Maximum Annual Charge 14
  
1.40%
  
 
LifeGuard Freedom Flex DBSM Maximum Annual Charge (only available with a specified combination of Options for the LifeGuard Freedom Flex® GMWB) 15
  
0.72%
  
         
 
The following optional endorsement charges are benefit based.  Please see the footnotes for additional information on the various optional endorsement charges.  You may select one of the available benefits listed below8:
  
         
 
Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up Maximum Annual Charge (“SafeGuard Max®”) (no longer offered as of April 29, 2013) 16
  
1.20%
  
 
5% GMWB With Annual Step-Up Maximum Annual Charge (“AutoGuard 5SM”) 17
  
1.74%
  
 
6% GMWB With Annual Step-Up Maximum Annual Charge (“AutoGuard 6SM”) (no longer offered as of April 29, 2013) 18
  
2.04%
  
 
5
 
         
 
For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up and Transfer of Assets Charge (“Jackson Select Protector® GMWB”) (no longer offered as of April 29, 2013) 19
  
2.34%
  
 
For Life GMWB With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount Maximum Annual Charge (“LifeGuard Freedom 6 Net®”) 20
  
3.00%
  
 
For Life GMWB With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount Maximum Annual Charge (“LifeGuard Freedom 6 Net”) with Optional Income Upgrade Table (no longer offered as of September 15, 2014)
  
3.00%
  
 
Joint For Life GMWB With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount Maximum Annual Charge (“LifeGuard Freedom 6 Net® With Joint Option”) 21
  
3.00%
  
 
Joint For Life GMWB With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount Maximum Annual Charge (“LifeGuard Freedom 6 Net With Joint Option”) with Optional Income Upgrade Table (no longer offered as of October 15, 2012)
  
3.00%
  
 
For Life GMWB With Bonus and Step-Up Maximum Annual Charge (“LifeGuard Freedom Flex® GMWB”) 22
  
3.00%
  
 
For Life GMWB With Bonus and Step-Up Maximum Annual Charge (“LifeGuard Freedom Flex GMWB”) with Optional Income Upgrade Table (no longer offered as of September 15, 2014)
  
3.00%
  
 
Joint For Life GMWB With Bonus and Step-Up Maximum Annual Charge (“LifeGuard Freedom Flex® With Joint Option GMWB”) 23
  
3.00%
  
 
Joint For Life GMWB With Bonus and Step-Up Maximum Annual Charge (“LifeGuard Freedom Flex® With Joint Option GMWB”) 23
   3.00%  
  Joint For Life GMWB With Bonus and Step-Up Maximum Annual Charge ("LifeGuard Freedom Flex With Joint Option GMWB") with Optional Income Upgrade Table (no longer offered as of Octover 15, 2012)   3.00%  
      Guaranteed Minimum Withdrawal Benefit For Stretch RMDs ("MarketGuard StretchSM GMWB)24   2.22%  
     

6
This charge is waived on Contract Value of $50,000 or more.  This charge is deducted proportionally from allocations to the Investment Divisions, the Fixed  Account and the GMWB Fixed Account either annually (on your Contract Anniversary) or in conjunction with a total withdrawal, as applicable.
 
7
This charge is waived if the Contract Value on the later of the Issue Date or the most recent Contract Quarterly Anniversary is greater than or equal to $1 million.  If your Contract Value subsequently drops below $1 million on the most recent Contract Quarterly Anniversary, the Administration Charge will be reinstated as of that date.
 
8
Some optional endorsements are only available to select when purchasing the Contract and once purchased cannot be canceled.  The 5%, 4% and 3% Contract Enhancements are not available if you select the 20% Additional Free Withdrawal endorsement and vice versa.
 
9
The current charge is 0.30%.
 
10
This charge lasts for the first seven Contract Years.  While this charge will be imposed based upon the average daily net asset value of your allocations to the Investment Divisions, this charge will also be assessed against any amounts allocated to the Fixed Account Options and the GMWB Fixed Account by reducing credited rates, but not below the minimum guaranteed interest rate (assuming no withdrawals).  For more information, please see “Contract Enhancement Charge” under “Contract Charges”, beginning on page 33.
 
11
This charge lasts for the first five Contract Years.  While this charge will be imposed based upon the average daily net asset value of your allocations to the Investment Divisions, this charge will also be assessed against any amounts allocated to the Fixed Account Options and the GMWB Fixed Account by reducing credited rates, but not below the minimum guaranteed interest rate (assuming no withdrawals).  For more information, please see “Contract Enhancement Charge” under “Contract Charges”, beginning on page 33.
 
12
The current annual charge is 0. 8 0% of the GMDB Benefit Base (0.20% each Contract Quarter), subject to a maximum annual charge of 1.20% of the GMDB Benefit Base (as used in the Table).
 
For more information about the charge for this endorsement, please see “5% Roll-up Death Benefit” under “Death Benefit Charges”, beginning on page 44.  For more information about how the endorsement works, including more details regarding the GMDB Benefit Base, please see “5% Roll-up Death Benefit” under “Optional Death Benefits”, beginning on page 139.
 
13
The current annual charge is 0. 30 % of the GMDB Benefit Base (0.075% each Contract Quarter), subject to a maximum annual charge of 0.60% of the GMDB Benefit Base (as used in the Table).
 
For more information about the charge for this endorsement, please see “Highest Quarterly Anniversary Value Death Benefit” under “Death Benefit Charges”, beginning on page 44.  For more information about how the endorsement works, including more details regarding the GMDB Benefit Base, please see “Highest Quarterly Anniversary Value Death Benefit” under “Optional Death Benefits”, beginning on page 140.
 
14
The current annual charge is 0. 90 % of the GMDB Benefit Base (0.225% each Contract Quarter), subject to a maximum annual charge of 1.40% of the GMDB Benefit Base (as used in the Table).
 
For more information about the charge for this endorsement, please see “Combination 5% Roll-up and Highest Quarterly Anniversary Value Death Benefit” under “Death Benefit Charges”, beginning on page 44.  For more information about how the endorsement works, including more details regarding the GMDB Benefit Base, please see “Combination 5% Roll-up and Highest Quarterly Anniversary Value Death Benefit” under “Optional Death Benefits”, beginning on page 140.
 
15
The current and maximum annual charge is 0. 70 % of the GMWB Death Benefit (0.175% each Contract Quarter).  However, for Contracts purchased in Washington State, the current and maximum annual charge is 0. 72 % of the GMWB Death Benefit (0.06% each Contract Month, as used in the table).
 
For more information about the charge for the LifeGuard Freedom Flex DB, please see “LifeGuard Freedom Flex DB” under “Death Benefit Charges”, beginning on page 44.  For more information about how the LifeGuard Freedom Flex DB works, please see “LifeGuard Freedom Flex DB” under “Optional Death Benefits”, beginning on page 142.
 
16
1.20% of the GWB is the maximum annual charge, which charge is payable quarterly.  However, for Contracts purchased in Washington State, you pay the charge each Contract Month.  The tables below have the maximum and current charges.
 
6
 
GMWB With 5-Year Step-Up
Annual Charge
Maximum
Current
 
 
1.20%
(WA Only)
1.20%
 
0.60%
(WA Only)
0.60%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
For more information about the charge for this endorsement, please see “Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up (“SafeGuard Max)” Charge” beginning on page 35.  For more information about how the endorsement works, including how the GWB is calculated, please see “Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up” beginning on page 59.
 
17
1.70% of the GWB is the maximum annual charge, which charge is payable quarterly. However, for Contracts purchased in Washington State, the maximum annual charge is 1.74% of the GWB, which charge is payable each Contract Month.  The tables below have the maximum and current charges.
 
5% GMWB With Annual Step-Up
Annual Charge
Maximum
Current
 
 
1.70%
(WA Only)
1.74%
 
0.85%
(WA Only)
0.87%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
For more information about the charge for this endorsement, please see “5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 35.  For more information about how the endorsement works, including how the GWB is calculated, please see  “5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 64.
 
18
2.00% of the GWB is the maximum annual charge, which charge is payable quarterly. However, for Contracts purchased in Washington State, the maximum annual charge is 2.04% of the GWB, which charge is payable each Contract Month. The tables below have the maximum and current charges.
 
6% GMWB With Annual Step-Up
Annual Charge
Maximum
Current
 
 
2.00%
(WA Only)
2.04%
 
1.00%
(WA Only)
1.02%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
For more information about the charge for this endorsement, please see “6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 36.  For more information about how the endorsement works, including how the GWB is calculated, please see “6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 67.
 
19
2.30% of the GWB is the maximum annual charge, which charge is payable quarterly.  However, for Contracts purchased in Washington State, the maximum annual charge is 2.34% of the GWB, which charge is payable each Contract Month.  The tables below have the maximum and current charges.
 
For Life GMWB With Annual Step-Up and Transfer of Assets
Annual Charge
Maximum
Current
 
 
2.30%
(WA Only)
2.34%
 
1.15%
(WA Only)
1.17%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
For more information about the charge for this endorsement, please see “For Life GMWB With Annual Step-Up and Transfer of Assets Charge” beginning on page 37.  For more information about how the endorsement works, including how the GWB is calculated, please see “For Life GMWB With Annual Step-Up and Transfer of Assets” beginning on page 70.
 
20
3.00% of the GWB is the maximum annual charge and 1.50% of the GWB is the current annual charge (based on election of the Income Stream Level 5 GAWA% Table under LifeGuard Freedom 6 Net ), which charge is payable quarterly.  However, for Contracts purchased in Missouri (for endorsements issued on or after September 16, 2013) and Washington State, the  charge is payable each Contract Month.  For more information about the charges for this endorsement, including applicable charges for each of the five Income Stream Level GAWA% tables, please see “For Life G uaranteed M inimum W ithdrawal B enefit With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount (“LifeGuard Freedom 6 Net”) Charge” beginning on page 38.  For more information about how the endorsement works, including how the GWB is calculated, please see “For Life G uaranteed M inimum W ithdrawal B enefit with Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount” beginning on page 80.
 
21
3.00% of the GWB is the maximum annual charge and 1.60% of the GWB is the current annual charge (based on election of the Income Stream Level 3 GAWA% Table under LifeGuard Freedom 6 Net with Joint Option ), which charge is payable quarterly.  However, for Contracts purchased in Missouri (for endorsements issued on or after September 16, 2013) and Washington State, the current annual charge is 1.62%, which is payable each Contract Month. For more information about the charges for this endorsement, including applicable charges for each of the three Income Stream Level GAWA% tables, please see “Joint For Life G uaranteed M inimum W ithdrawal B enefit With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount (“LifeGuard Freedom 6 Net with Joint Option”) Charge” beginning on page 39.  For more information about how the endorsement works, including how the GWB is calculated, please see “Joint For Life G uaranteed M inimum W ithdrawal B enefit With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount” beginning on page 92.
  
 
7
 
22
3.00% of the GWB is the maximum annual charge and 1.50% of the GWB is the current annual charge (based on election of the most expensive combination of options under LifeGuard Freedom Flex ), which charge is payable quarterly.  However, for Contracts purchased in Missouri (for endorsements issued on or after September 16, 2013) and Washington State, the  charge is payable each Contract Month.  For more information about the charges for this endorsement, including applicable charges for each of the available combination of options, please see “For Life G uaranteed M inimum W ithdrawal B enefit With Bonus and Step-Up (“LifeGuard Freedom Flex GMWB”) Charge” beginning on page 40.  For more information about how the endorsement works, including how the GWB is calculated, please see “LifeGuard Freedom Flex GMWB” beginning on page 106.
 
23
3.00% of the GWB is the maximum annual charge and 1.60% of the GWB is the current annual charge (based on election of the most expensive combination of options under LifeGuard Freedom Flex with Joint Option ), which charge is payable quarterly.  However, for Contracts purchased in Missouri (for endorsements issued on or after September 16, 2013) and Washington State, the current annual charge is 1.62%, which is payable each Contract Month.  For more information about the charges for this endorsement, including applicable charges for each of the available combination of options, please see “Joint For Life G uaranteed M inimum W ithdrawal B enefit With Bonus and Step-Up (“LifeGuard Freedom Flex with Joint Option GMWB”) Charge” beginning on page 42.  For more information about how the endorsement works, including how the GWB is calculated, please see “LifeGuard Freedom Flex With Joint Option GMWB” beginning on page 117.
 
24
2.20% of the GMWB Charge Base is the maximum annual charge, which charge is payable quarterly.   However, for Contracts purchased in Washington State, the maximum annual charge is 2.22% of the GMWB Charge Base, which charge is payable each Contract Month.  The tables below have the maximum and current charges.
 
MarketGuard Stretch GMWB
Annual Charge
Maximum
Current
 
 
2.20%
(WA Only)
2.22%
 
1.10%
(WA Only)
1.11%
Charge Basis
GMWB Charge Base
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
 
For more information about the charge for this endorsement, including how the GMWB Charge Base is calculated, please see “Guaranteed Minimum Withdrawal Benefit For Stretch RMDs (“MarketGuard Stretch GMWB”) Charge” beginning on page 43.  For more information about how the endorsement works, please see “Guaranteed Minimum Withdrawal Benefit For Stretch RMDs (“MarketGuard Stretch GMWB”)” beginning on page 129.

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

Total Annual Fund Operating Expenses
 

(Expenses that are deducted from Fund assets, including management and administration fees, 12b-1 service fees and other expenses.)
 
 
Minimum:  0.5 5 %
 
Maximum:  2. 18 %
 

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

 
Fund Operating
Expenses
 
(As an annual percentage of
each Fund’s average
daily net assets)
 
Fund Name
 
Management
Fee
 
Distribution
and/or
Service
(12b-1) Fees
 
Other
Expenses
 
Acquired
Fund
Fees and Expenses
 
Total
Annual
Fund
Operating
Expenses
 
Contractual
Fee Waiver
and/or Expense Reimbursement
 
Net Total
Annual  
Fund
Operating Expenses
 
JNL Series Trust
JNL/American Funds® Blue Chip Income and Growth
1.08% A
0.20% A,J
0.18% A, G
0.00%
1.46% A
0.43% B,J
1.03% A,B,J
JNL/American Funds Global Bond
1.23% A
0.20% A,J
0.19% A, G
0.00%
1.62% A
0.50% B,J
1.12% A,B,J
JNL/American Funds Global Small Capitalization
1.45% A
0.20% A,J
0.19% A, G
0.00%
1.84% A
0.55% B,J
1.29% A,B,J
JNL/American Funds Growth-Income
0.94% A
0.20% A,J
0.18% A, G
0.00%
1.32% A
0.35% B,J
0.97% A,B,J
JNL/American Funds International
1.35% A
0.20% A,J
0.19% A, G
0.00%
1.74% A
0.55% B,J
1.19% A,B,J
JNL/American Funds New World
1.77% A
0.20% A,J
0.21% A, G
0.00%
2.18% A
0.75% BJ
1.43% A,B,J
JNL/DFA U.S. Core Equity
0.59%
0.20%
0.10% F
0.00%
0.89%
0.09% C
0.80% C
 
8
 
JNL/Franklin Templeton Global Multisector Bond
0.73%
0.20%
0.15% G
0.02%
1.10%
0.03% C
1.07% C
JNL/Goldman Sachs Mid Cap Value
0.70%
0.20%
0.11% F
0.00%
1.01%
0.02% C
0.99% C
JNL/Invesco Small Cap Growth
0.82%
0.20%
0.10% F
0.01%
1.13%
0.01% C
1.12% C
JNL/Mellon Capital S&P 500 Index
0.24%
0.20%
0.12% F
0.00%
0.56%
0.01% C
0.55% C
JNL/T. Rowe Price Value
0.61%
0.20%
0.10% F
0.00%
0.91%
0.00% C
0.91% C
JNL/WMC Money Market
0.26%
0.20%
0.10% F
0.00%
0.56%
0.38% D
0.18% D
 
 
Fund Operating Expenses
 
(As an annual percentage of each Fund’s average daily net assets)
 
Fund Name
 
Management
Fee
 
Distribution and/or
Service
 (12b-1) Fees
 
Other 
Expenses
 
 
Acquired Fund
Fees and 
Expenses 
 
Total
Annual Fund 
Operating 
Expenses
 
JNL Series Trust
JNL Institutional Alt 20
0.11%
0.00%
0.06% E
0.95%
1.12%
JNL Institutional Alt 35
0.11%
0.00%
0.05% E
1.04%
1.20%
JNL Institutional Alt 50
0.11%
0.00%
0.05% E
1.14%
1.30%
JNL/American Funds Balanced Allocation
0.30%
  0.20% J
0.15% G
0.47%
  1.12% J
JNL/American Funds Growth Allocation
0.30%
  0.20% J
0.15% G
0.50%
1.15%
JNL/BlackRock Commodity Securities Strategy
0.62%
0.20%
0.15% G
0.00%
0.97%
JNL/BlackRock Global Allocation
0.72%
0.20%
0.15% G
0.00%
1.07%
JNL/BlackRock Large Cap Select Growth
0.61%
0.20%
0.11% F
0.00%
0.92%
JNL/Brookfield Global Infrastructure and MLP
0.79%
0.20%
0.16% G
0.01%
1.16%
JNL/Capital Guardian Global Balanced
0.65%
0.20%
0.16% G
0.01%
1.02%
JNL/Capital Guardian Global Diversified Research
0.72%
0.20%
0.15% G
0.01%
1.08%
JNL/Eagle SmallCap Equity
0.67%
0.20%
0.10% F
0.00%
0.97%
JNL/Eastspring Investments Asia ex-Japan
0.90%
0.20%
0.17% G
0.00%
1.27%
JNL/Eastspring Investments China-India
0.90%
0.20%
0.21% H
0.00%
1.31%
JNL/Franklin Templeton Founding Strategy
0.00%
0.00%
0.05% E
0.99%
1.04%
JNL/Franklin Templeton Global Growth
0.65%
0.20%
0.15% G
0.01%
1.01%
JNL/Franklin Templeton Income
0.62%
0.20%
0.10% F
0.01%
0.93%
JNL/Franklin Templeton International Small Cap Growth
0.95%
0.20%
0.16% G
0.01%
1.32%
JNL/Franklin Templeton Mutual Shares
0.72%
0.20%
0.11% F
0.01%
1.04%
JNL/Franklin Templeton Small Cap Value
0.77%
0.20%
0.11% F
0.01%
1.09%
JNL/Goldman Sachs Core Plus Bond
0.58%
0.20%
0.10% F
0.01%
0.89%
JNL/Goldman Sachs U.S. Equity Flex
0.80%
0.20%
0.93% G
0.01%
1.94%
JNL/Invesco Global Real Estate
0.70%
0.20%
0.15% G
0.00%
1.05%
JNL/Invesco International Growth
0.62%
0.20%
0.16% G
0.01%
0.99%
JNL/Invesco Large Cap Growth
0.66%
0.20%
0.10% F
0.00%
0.96%
JNL/Invesco Mid Cap Value
0.68%
0.20%
0.11% F
0.01%
1.00%
JNL/Ivy Asset Strategy
  0.84% I
0.20%
0.15% G
0.00%
1.19%
JNL/JPMorgan International Value
0.65%
0.20%
0.15% G
0.00%
1.00%
JNL/JPMorgan MidCap Growth
0.64%
0.20%
0.10% F
0.00%
0.94%
JNL/JPMorgan U.S. Government & Quality Bond
0.39%
0.20%
0.10% F
0.01%
0.70%
JNL/Mellon Capital European 30
0.30%
0.20%
0.21% H
0.00%
0.71%
JNL/Mellon Capital Pacific Rim 30
0.31%
0.20%
0.21% H
0.00%
0.72%
JNL/Mellon Capital S&P 400 MidCap Index
0.25%
0.20%
0.12% F
0.00%
0.57%
JNL/Mellon Capital Small Cap Index
0.25%
0.20%
0.10% F
0.00%
0.55%
JNL/Mellon Capital International Index
0.25%
0.20%
0.17% G
0.00%
0.62%
JNL/Mellon Capital Bond Index
0.27%
0.20%
0.10% F
0.01%
0.58%
JNL/Mellon Capital Dow Jones U.S. Contrarian Opportunities Index
0.32%
0.20%
0.18% G
0.00%
0.70%
JNL/Mellon Capital Emerging Markets Index
0.38%
0.20%
0.18% G
0.00%
0.76%
JNL/Mellon Capital Index 5
0.00%
0.00%
0.05% E
0.58%
0.63%
JNL/Mellon Capital 10 x 10
0.00%
0.00%
0.05% E
0.61%
0.66%
JNL/Morgan Stanley Mid Cap Growth
0.75%
0.20%
0.15% G
0.01%
1.11%
JNL/Neuberger Berman Strategic Income
0.60%
0.20%
0.15% G
0.04%
0.99%
JNL/Oppenheimer Global Growth
0.63%
0.20%
0.16% G
0.00%
0.99%
JNL/PIMCO Real Return
0.49%
0.20%
0.17% F
0.00%
0.86%
JNL/PIMCO Total Return Bond
0.50%
0.20%
0.10% F
0.00%
0.80%
JNL/PPM America Floating Rate Income
0.61%
0.20%
0.17% G
0.01%
0.99%
JNL/PPM America High Yield Bond
0.43%
0.20%
0.11% F
0.02%
0.76%
JNL/PPM America Mid Cap Value
0.75%
0.20%
0.11% F
0.00%
1.06%
 
9
 
 
Fund Operating Expenses
 
(As an annual percentage of each Fund’s average daily net assets)
 
Fund Name
 
Management
Fee
 
Distribution
and/or
Service
 (12b-1) Fees
 
Other 
Expenses
 
Acquired Fund
Fees
and Expenses 
 
Total
Annual Fund 
Operating 
Expenses
 
JNL/PPM America Small Cap Value
0.75%
0.20%
0.11% F
0.00%
1.06%
JNL/PPM America Value Equity
0.55%
0.20%
0.10% F
0.00%
0.85%
JNL/T. Rowe Price Established Growth
0.56%
0.20%
0.10% F
0.00%
0.86%
JNL/T. Rowe Price Mid-Cap Growth
0.70%
0.20%
0.11% F
0.00%
1.01%
JNL/T. Rowe Price Short-Term Bond
0.40%
0.20%
0.11% F
0.00%
0.71%
JNL/WMC Balanced
0.43%
0.20%
0.11% F
0.01%
0.75%
JNL/WMC Value
0.47%
0.20%
0.11% F
0.00%
0.78%
JNL/S&P Managed Conservative
0.09%
0.00%
0.06% E
0.85%
1.00%
JNL/S&P Managed Moderate
0.09%
0.00%
0.05% E
0.88%
1.02%
JNL/S&P Managed Moderate Growth
0.08%
0.00%
0.06% E
0.91%
1.05%
JNL/S&P Managed Growth
0.09%
0.00%
0.05% E
0.93%
1.07%
JNL/S&P Managed Aggressive Growth
0.09%
0.00%
0.06% E
0.94%
1.09%
JNL Disciplined Moderate
0.10%
0.00%
0.05% E
0.74%
0.89%
JNL Disciplined Moderate Growth
0.10%
0.00%
0.05% E
0.70%
0.85%
JNL Disciplined Growth
0.12%
0.00%
0.05% E
0.68%
0.85%
JNL/S&P Competitive Advantage
0.36%
0.20%
0.10% F
0.00%
0.66%
JNL/S&P Dividend Income & Growth
0.36%
0.20%
0.10% F
0.00%
0.66%
JNL/S&P Intrinsic Value
0.36%
0.20%
0.11% F
0.00%
0.67%
JNL/S&P Total Yield
0.37%
0.20%
0.10% F
0.00%
0.67%
JNL/S&P Mid 3
0.50%
0.20%
0.10% F
0.00%
0.80%
JNL/S&P 4
0.00%
0.00%
0.05% E
0.67%
0.72%
JNL Variable Fund LLC
JNL/Mellon Capital DowSM 10
0.29%
0.20%
0.18% G
0.00%
0.67%
JNL/Mellon Capital Global 15
0.29%
0.20%
0.21% H
0.00%
0.70%
JNL/Mellon Capital Nasdaq® 25
0.29%
0.20%
0.19% G
0.00%
0.68%
JNL/Mellon Capital S&P® 24
0.28%
0.20%
0.18% G
0.00%
0.66%
JNL/Mellon Capital 25
0.28%
0.20%
0.16% G
0.00%
0.64%
JNL/Mellon Capital JNL 5
0.27%
0.20%
0.17% G
0.00%
0.64%
JNL/Mellon Capital S&P® SMid 60
0.29%
0.20%
0.17% G
0.00%
0.66%
JNL/Mellon Capital Communications Sector
0.31%
0.20%
0.17% G
0.00%
0.68%
JNL/Mellon Capital Consumer Brands Sector
0.29%
0.20%
0.17% G
0.00%
0.66%
JNL/Mellon Capital Financial Sector
0.29%
0.20%
0.17% G
0.00%
0.66%
JNL/Mellon Capital Healthcare Sector
0.28%
0.20%
0.17% G
0.00%
0.65%
JNL/Mellon Capital Oil & Gas Sector
0.28%
0.20%
0.17% G
0.00%
0.65%
JNL/Mellon Capital Technology Sector
0.29%
0.20%
0.17% G
0.00%
0.66%
JNL Investors Series Trust
JNL/PPM America Total Return
0.50%
0.20%
0.11% F
0.01%
0.82%

A
Fees and expenses at the Master Fund level for Class 1 shares of each respective Fund are as follows:
 
JNL/American Funds Blue Chip Income and Growth Fund: Management Fee: 0.40%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.02%; Total Annual Portfolio Operating Expenses: 0.42%.
 
JNL/American Funds Global Bond Fund: Management Fee: 0.53%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.04%; Total Annual Portfolio Operating Expenses: 0.57%.
 
JNL/American Funds Global Small Capitalization Fund: Management Fee: 0.70%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.04%; Total Annual Portfolio Operating Expenses: 0.74%.
 
JNL/American Funds Growth-Income Fund: Management Fee: 0.27%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.02%; Total Annual Portfolio Operating Expenses: 0.29%.
 
JNL/American Funds International Fund: Management Fee: 0.50%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.04%; Total Annual Portfolio Operating Expenses: 0.54%.
 
JNL/American Funds New World Fund: Management Fee: 0.72%; Distribution and/or Service (12b-1) Fee: 0%; Other Expenses: 0.06%; Total Annual Portfolio Operating Expenses: 0.78%.
 
B
JNAM has entered into a contractual agreement with the Fund under which it will waive a portion of its advisory fee for such time as the Fund is operated as a Feeder Fund, because during that time it will not be providing the portfolio management portion of the investment advisory and management services. This fee waiver will generally continue as long as the Fund is part of a master-feeder Fund structure, but in any event, the fee waiver will continue for at least one year from the date of this Prospectus, unless the Board of Trustees approves a change in or elimination of the waiver. This fee waiver is subject to yearly review and approval by the Board of Trustees. The Management and the Annual Operating Expense columns in this table reflect the inclusion of the contractual fee waivers.
 
10
 
C
JNAM has entered into a contractual agreement with the Fund under which it will waive a portion of its advisory fee for at least one year from the date of this Prospectus. Thereafter, the waiver will automatically renew for one-year terms unless the Adviser provides written notice of the termination of the agreement to the Board of Trustees within 30 days of the end of the then current term.
 
D
JNAM has contractually agreed to waive fees and reimburse expenses of the Fund to the extent necessary to limit the total operating expenses of each class of shares of the Fund, exclusive of brokerage costs, interest, taxes and dividend and extraordinary expenses, to an annual rate (as a percentage of the average daily net assets of the Fund) equal to or less than the Fund’s investment income for the period.  The fee waiver will continue for at least one year from the date of this Prospectus, unless the Board of Trustees approves a change in or elimination of the waiver. This fee waiver is subject to yearly review and approval by the Board of Trustees. 
 
E
“Other Expenses” include an Administrative Fee of 0.05% which is payable to Jackson National Asset Management, LLC (“JNAM” or “Adviser”).
 
F
“Other Expenses” include an Administrative Fee of 0.10% which is payable to Jackson National Asset Management, LLC (“JNAM” or “Adviser”).
 
G
“Other Expenses” include an Administrative Fee of 0.15% which is payable to Jackson National Asset Management, LLC (“JNAM” or “Adviser”).
 
H
“Other Expenses” include an Administrative Fee of 0.20% which is payable to Jackson National Asset Management, LLC (“JNAM” or “Adviser”).
 
I       Management Fees have been restated to reflect a change in the management fee rate effective September 15, 2014.
 
J
Distribution and/or services (12b-1 fees) and contractual fee waivers have been restated to reflect a change in the fee rates effective April 27, 2015.
 

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, the Fixed Account and the GMWB Fixed Account, if applicable.)

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 5% Contract Enhancement, the most expensive Optional Death Benefit Endorsement, the Five-year Withdrawal Charge Period and the Guaranteed Minimum Withdrawal Benefit (using the maximum possible charge).  Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

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

1 year
3 years
5 years
10 years
$2,19 0
$3,6 17
$4, 686
$7,4 65

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

1 year *
3 years
5 years
10 years
$2,19 0
$3,0 17
$4, 486
$7,4 65

*Withdrawal charges apply to annuitizations 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
$94 0
$2, 692
$4, 286
$7,4 65

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


The information about the values of all Accumulation Units constitutes the condensed financial information.  Information about the values of Accumulation Units for a base Contract (with Administration Charge waiver and no optional endorsements) and for a Contract with the most expensive combination of charges and optional endorsements can be found in Appendix G .  Information about the values of all remaining Accumulation Units can be found in the Statement of Additional Information.  The value of an Accumulation Unit is determined on the basis of the per share value of an underlying Fund less applicable Separate Account charges,
 
11
 
including any optional endorsement charges that are based on average daily Contract Value in the Investment Divisions and are deducted daily as part of the calculation of Accumulation Units.  Information about the Separate Account charges and charges for optional endorsements can be found in the “Periodic Expenses” tables above.

The financial statements of the Separate Account and Jackson can be found in the Statement of Additional Information.  The financial statements of the Separate Account include information about all the contracts offered through the Separate Account.  The financial statements of Jackson that are included should be considered only as bearing upon the company’s ability to meet its contractual obligations under the Contracts.  Jackson’s financial statements do not bear on the future investment experience of the assets held in the Separate Account.  For your copy of the Statement of Additional Information, please contact us at the Annuity Service Center.  Our contact information is on the cover page of this prospectus.

THE ANNUITY CONTRACT

Your Contract is a contract between you, the Owner, and us.  Your Contract is intended to help facilitate your retirement savings on a tax-deferred basis, or other long-term investment purposes, and provides for a death benefit.  Purchases under tax-qualified plans should be made for other than tax deferral reasons.  Tax-qualified plans provide tax deferral that does not rely on the purchase of an annuity contract.  We will not issue a Contract to someone older than age 90 (age 85 for Contracts purchased in Oklahoma).  Optional benefits may have different requirements, as noted.

Your Contract Value may be allocated to

●
our Fixed Account, as may be made available by us, or as may be otherwise limited by us,
 
●
our GMWB Fixed Account (only if the optional Jackson Select Protector GMWB is elected), as may be made available by us, or as may be otherwise limited by us, or to
 
●
Investment Divisions of the Separate Account that invest in underlying Funds.

Your Contract, like all deferred annuity contracts, has two phases:

●
the accumulation phase, when you make Premium payments to us, and
 
●
the income phase, when we make income payments to you.

As the Owner, you can exercise all the rights under your Contract.  You can assign your Contract at any time during your lifetime, but we will not be bound until we receive written notice of the assignment (there is an assignment form).  We reserve the right to refuse an assignment, and an assignment may be a taxable event.  Your ability to change ownership is limited on Contracts with one of the For Life GMWBs.  Please contact our Annuity Service Center for help and more information.

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).”

JACKSON

We are a stock life insurance company organized under the laws of the state of Michigan in June 1961.  Our legal domicile and principal business address is 1 Corporate Way, Lansing, Michigan 48951.  We are admitted to conduct life insurance and annuity business in the District of Columbia and all states except New York.  We are ultimately a wholly owned subsidiary of Prudential plc (London, England).  Prudential plc is also the ultimate parent of PPM America, Inc. and Eastspring Investments (Singapore) Limited, each a sub-adviser for certain of the Funds . Jackson is the parent of Jackson National Asset Management, LLC (“JNAM”), the Funds’ investment adviser and administrator.  JNAM provides certain administrative services with respect to the Separate Account, including separate account administration services and financial and accounting services.  JNAM is located at 225 West Wacker Drive, Chicago, IL  60606.

We issue and administer the Contracts and the Separate Account.  We maintain records of the name, address, taxpayer identification number and other pertinent information for each Owner, the number and type of Contracts issued to each Owner and records with respect to the value of each Contract.
 
We are working to provide documentation electronically.  When this program is available, we will, as permitted, forward documentation electronically.  Please contact us at our Annuity Service Center for more information.
 
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Contract Value allocated to the Fixed Account and/or the GMWB Fixed Account will be placed with other assets in our General Account.  Unlike the Separate Account, the General Account is not segregated or insulated from the claims of the insurance company’s creditors.  Investors are looking to the financial strength of the insurance company for its obligations under the Contract, including, for example, guaranteed minimum death benefits and guaranteed minimum withdrawal benefits.  The Fixed Account and the GMWB Fixed Account are not registered with the SEC, and the SEC does not review the information we provide to you about them.  Disclosures regarding the Fixed Account and the GMWB Fixed Account, however, may be subject to the general provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses.  Both the availability of, and transfers into and out of, the Fixed Account (which consists of the Fixed Account Options) and the GMWB Fixed Account may be subject to contractual and administrative requirements.  For more information, please see the application, check with the registered representative helping you to purchase the Contract, or contact us at our Annuity Service Center.


Fixed Account Options.  Each Fixed Account Option credits interest to your Contract Value in the Fixed Account for a specified period that you select (currently, one, three, five or seven years), subject to availability (and we reserve the right, in our sole discretion, to limit or suspend availability of the Fixed Account Options), so long as the Contract Value in that Fixed Account Option is not withdrawn, transferred, or annuitized until the end of the specified period.  You may not elect any Fixed Account Option that extends beyond the Income Date, other than the one-year option; and election of the one-year option will not extend the Income Date.  Rather, commencing on the Income Date, we will cease to credit interest under any one-year Fixed Account Option that has not yet reached the end of its term.

The following restrictions currently apply on Contracts with an optional Contract Enhancement endorsement during the first seven Contract Years (five Contract Years for the 2% Contract Enhancement). The three, five and seven year Fixed Account Options are not available and transfers to any Fixed Account Option are not permitted (including under the Dollar Cost Averaging program).  Premiums may be allocated to the one year Fixed Account Option.  However, any Premium allocated to the one year Fixed Account must be transferred out of the one year Fixed Account in a series of scheduled monthly transfers to your choice of Investment Divisions within either a 6 or 12 month period beginning on the date we received the Premium.  Therefore, at the end of the 6 or 12 month period, all amounts in the one year Fixed Account will have been transferred out of the one year Fixed Account.  See “Additional Information Concerning the One-Year Fixed Account Option” below for additional information on the transfer out provision.  These restrictions may be modified, eliminated, or otherwise revised, at which time we will provide you with written notice of the changes.

Rates of Interest We Credit.  These Contracts guarantee a Fixed Account minimum interest rate that applies to every Fixed Account Option under any Contract, regardless of the term of that option.  The Fixed Account minimum interest rate guaranteed by the Contracts at least equals the minimum rate prescribed by the applicable non-forfeiture law in each state where the Contracts are sold.  In addition, we establish a declared rate of interest (“base interest rate”) at the time you allocate any Premium payment or other Contract Value to a Fixed Account Option, and that base interest rate will remain in effect for the entire term of the Fixed Account Option that you select for that allocation.  To the extent that the base interest rate that we establish for any allocation is higher than the Fixed Account minimum interest rate, we will credit that allocation with the higher base interest rate.  Thus, the declared base interest rate could be greater than the guaranteed Fixed Account minimum interest rate specified in your Contract, but will never cause you to be credited with less than the currently applicable Fixed Account minimum interest rate.  Subject to the Fixed Account minimum interest rate, we may declare different base interest rates at different times, although any new base interest rate Jackson declares for a Fixed Account Option will apply only to Premiums or other amounts allocated to that Fixed Account Option after the new rate goes into effect.

The Fixed Account minimum interest rate will be a rate, credited daily, that will be reset every January pursuant to a formula that is prescribed under applicable state nonforfeiture laws and that is set forth in the Contracts.  Specifically, the Fixed Account minimum interest rate will be reset each January to equal the average of the daily five-year Constant Maturity Treasury Rates reported by the Federal Reserve for the preceding October (rounded to the nearest 1/20 of a percent), less 1.25%, provided further that the Fixed Account minimum interest rate will never be less than 1% or more than 3%.  As noted above, these limits are prescribed by state non-forfeiture laws and set forth in the Contracts.  This means that the Fixed Account minimum interest rate applicable to your Contract will in no case ever exceed a maximum of 3%. Your Contract’s initial Fixed Account minimum interest rate will be stated in your Contract, and will be the rate that is in effect on the Contract’s Issue Date pursuant to the foregoing formula.  Thereafter, on the Contract Monthly Anniversary for each January, the Fixed Account minimum interest rate will be reset in accordance with the above formula. (The Contract Monthly Anniversary for any January is the Contract Monthly Anniversary that falls within that month).   If you allocate a Premium payment or other Contract Value to a Fixed Account Option, the Fixed Account minimum interest rate in effect at the time of the allocation would initially apply to that allocation.  Subsequent resets of the Fixed Account minimum interest rate on each January Contract Monthly Anniversary could change the amount of interest you would thereafter earn on that allocation.  Thus, if the new Fixed Account minimum interest rate is higher than the rate previously being credited to your allocation to a Fixed
 
13
 
Account Option, the interest rate being credited would increase to that new higher rate.  On the other hand, if the new Fixed Account minimum interest rate is lower than the rate being credited to your allocation, the interest rate being credited would decrease to that lower rate, but never below the base interest rate.  We will advise you of any new Fixed Account minimum interest rate in the fourth quarter report for the calendar year preceding the January Contract Monthly Anniversary on which the change occurs.

For the most current information about applicable interest rates, you may contact your registered representative or (at the address and phone number on the cover page of this prospectus) our Annuity Service Center.

Excess Interest Adjustment.  An Excess Interest Adjustment may apply to amounts withdrawn, transferred or annuitized from a Fixed Account Option prior to the end of the specified period.  The Excess Interest Adjustment reflects changes in the level of interest rates since the beginning of the Fixed Account Option period.  In order to determine whether there will be an Excess Interest Adjustment, we first consider the base interest rate of the Fixed Account Option from which you are taking an amount as a withdrawal, transfer, or annuitization.  As discussed above under ‘Rates of Interest we Credit,’ the ‘base interest rate’ is a rate which we declare at the time you allocate any amount to a Fixed Account Option and which we credit to that Fixed Account Option if and when such base interest rate is higher than the Fixed Account minimum interest rate.  The Excess Interest Adjustment is based on the relationship of the base interest rate on your Fixed Account Option to the ‘current new business interest rate,’ which is a rate that we use solely for purposes of calculating the amount of any Excess Interest Adjustment.  The ‘current new business interest rate’ is .50% per annum greater than the base interest rate we are then offering on a new Fixed Account Option with the same duration as your Fixed Account Option.  If we are not then offering that duration, we will estimate a base interest rate for that duration based on the closest durations that we are then offering.

Generally, the Excess Interest Adjustment will (a) increase the amount withdrawn, transferred, or annuitized when the current new business rate is lower than the base interest rate being credited for the Fixed Account Option from which the amount is being taken and will (b) decrease the amount withdrawn, transferred, or annuitized when the current new business rate is higher than the base interest rate for the Fixed Account Option from which the amount is being taken. There will be no excess interest adjustment if these rates are the same. Any adjustment resulting from the Excess Interest Adjustment is applied to the amount that is being withdrawn, transferred, or annuitized from the Fixed Account Option.  However, an Excess Interest Adjustment will not otherwise affect the values under your Contract.

Moreover, even if the current new business interest rate is greater than the base interest rate for the Fixed Account Option from which the amount is being taken, there will be no Excess Interest Adjustment if the difference between the two is less than 0.50%.   This limitation avoids decreases in the amount withdrawn, transferred, or annuitized in situations where the general level of interest rates has declined but the current new business interest rate nevertheless exceeds the base interest rate for your Fixed Account Option because of the additional .50% that (as described above) is added when determining the current new business rate.

Also, there is no Excess Interest Adjustment on: amounts taken from the one-year Fixed Account Option; death benefit proceed payments; payments pursuant to a life contingent income option or an income option resulting in payments spread over at least five years; amounts withdrawn for Contract charges; and free withdrawals.  In no event will a total withdrawal, transfer or annuitization from the Fixed Account Options be less than the Fixed Account minimum value.  The Fixed Account minimum value at least equals the minimum value prescribed by the applicable non-forfeiture law in each state where the Contracts are sold.  The Fixed Amount minimum value for any Fixed Account Option is the amount that would result from (1) accumulating the following amounts at the Fixed Account minimum interest rate: (a) any Premium payments (net of any associated Premium taxes plus any Contract Enhancements) or transfers that you allocate to that Fixed Account Option less (b) any withdrawals, transfers, or charges that are taken out of that Fixed Account Option; and (2) deducting any withdrawal charges, recapture charges, or charge for taxes due in connection with the withdrawal.  In the case of a partial withdrawal or transfer from a Fixed Account Option, you will have been credited with interest on the amount withdrawn or transferred at a rate at least equal to the Fixed Account minimum interest rate, even if subject to an Excess Interest Adjustment that otherwise would have reduced it below that rate.

The following example illustrates how the Fixed Account minimum value may affect an Excess Interest Adjustment on a partial withdrawal.  If you allocated your initial Premium of $10,000 to the Fixed Account and your declared rate of interest was 3%, after one year (assuming no other transactions or withdrawal charges) your Contract Value in the Fixed Account would be $10,300. If the Fixed Account minimum interest rate was 1%, your Fixed Account minimum value would be $10,100. In this case, an Excess Interest Adjustment could not reduce the withdrawal by more than $200 (the difference between your Contract Value in the Fixed Account and the Fixed Account minimum value).  For example, if you request an $8,000 withdrawal and it is subject to a $200 negative Excess Interest Adjustment, the withdrawal would be adjusted to $7,800. However, if it were subject to a negative $400 Excess Interest Adjustment, the $8,000 withdrawal still would only be adjusted to $7,800, so that it does not invade the Fixed Account minimum value. Immediately after either of these withdrawals, there will be no difference between your Contract Value in the Fixed Account and Fixed Account minimum value, and no negative Excess Interest Adjustments will apply on subsequent withdrawals until the Contract Value in the Fixed Account again grows to be larger than the Fixed Account minimum value.

End of Fixed Account Option Periods.  Whenever a specified period ends, you will have 30 days to transfer or withdraw the Contract Value in the Fixed Account Option, and there will not be an Excess Interest Adjustment.  If you do nothing, then after 30 days, the
 
14
 
Contract Value that remains in that Fixed Account Option will be subject to another specified period of the same duration, subject to availability, and provided that that specified period will not extend beyond the Income Date.  If such new Fixed Account Option would extend beyond the Income Date, we will use the longest Fixed Account Option that does not extend beyond the Income Date; or (if less than 1 year remains until the Income Date) we will credit interest at the current interest rate under the one-year Fixed Account Option up to the Income Date.  If the specified period of the same duration that has ended is no longer available, we will use the next shorter period that is then available.

Additional Information Concerning the One-Year Fixed Account Option.  If you allocate Premiums to the one-year Fixed Account Option, we may require that the amount in the one-year Fixed Account Option (including any Contract Enhancement) be automatically transferred on a monthly basis in installments to your choice of Investment Division within 12 months of the date we received the Premium, so that at the end of the period, all amounts in the one-year Fixed Account Option will have been transferred.  The amount will be determined based on the amount allocated to the one-year Fixed Account Option and the base interest rate.  Charges, withdrawals and additional transfers taken from the one-year Fixed Account Option will shorten the length of time it takes to deplete the account balance.  These automatic transfers will not count against the 15 free transfers in a Contract year or any maximum on amounts transferable from the one-year Fixed Account Option that we may impose as described in numbered paragraphs 1-4 under “Transfers and Frequent Transfer Restrictions” later in this prospectus.

Interest will continue to be credited daily on the account balance remaining in the one-year Fixed Account Option as funds are automatically transferred into your choice of Investment Divisions.  However, the effective yield over the 12-month automatic transfer period will be less than the base interest rate (or, if applicable, the Fixed Account minimum interest rate), as the applicable rate will be applied to a declining balance in the one-year Fixed Account Option.

Please also refer to “Transfers and Frequent Transfer Restrictions” later in this prospectus for information about certain restrictions, limits and requirements that may apply (or may in the future apply) to transfers to or from the Fixed Account Options.  In particular, we describe certain additional restrictions that may apply with respect to transfers from the one-year Fixed Account Option, including the possibility that, you might not be able to transfer all of your Contract Value out of the one-year Fixed Account Option for at least three years.  Accordingly, before allocating any Premium payments or other Contract Value to the one year Fixed Account Option, you should consider carefully the conditions we may impose upon your use of that option.

The DCA+ Fixed Account Option, if available, offers a fixed interest rate that we guarantee for a period of up to one year in connection with dollar-cost-averaging transfers to one or more of the Investment Divisions or systematic transfers to other Fixed Account Options.  From time to time, we will offer special enhanced rates on the DCA+ Fixed Account Option.  DCA+ Fixed Account Option is only available for new Premiums.  We provide more information about Dollar Cost Averaging, including DCA+, under “Other Information” later in this prospectus.


The Guaranteed Minimum Withdrawal Benefit (GMWB) Fixed Account.  The GMWB Fixed Account is available only in conjunction with the purchase of the Jackson Select Protector GMWB.  If you elect to purchase this GMWB, automatic transfers of your Contract Value may be required to and from the GMWB Fixed Account according to non-discretionary formulas.  You may not allocate additional monies to the GMWB Fixed Account.

The Contract Value in the GMWB Fixed Account is credited with a specific interest rate.  The interest rate initially declared for each transfer to the GMWB Fixed Account will remain in effect for a period of not less than one year.  GMWB Fixed Account interest rates for subsequent periods may be higher or lower than the rates previously declared.  The interest rate is credited daily to the Contract Value in the GMWB Fixed Account and the rate may vary by state but will never be less than the Fixed Account minimum interest rate applicable to the Contract, as discussed under “THE FIXED ACCOUNT” beginning on page 13.  Please contact us at the Annuity Service Center or contact your representative to obtain the currently declared GMWB Fixed Account interest rate for your state.  Our contact information is on the cover page of this prospectus.
 
Contract charges deducted from the Fixed Account and Investment Divisions are also deducted from the GMWB Fixed Account in accordance with your Contract’s provisions.  DCA, DCA+, Earnings Sweep and Automatic Rebalancing are not available to or from the GMWB Fixed Account.  There is no Excess Interest Adjustment on transfers, withdrawals or deductions from the GMWB Fixed Account.  Transfers to and from the GMWB Fixed Account are automatic according to non-discretionary formulas; you may not choose to transfer amounts to and from the GMWB Fixed Account.  These automatic transfers will not count against the 15 free transfers in a Contract Year.  You will receive a confirmation statement reflecting the automatic transfer of any Contract Value to and from the GMWB Fixed Account.

For more detailed information regarding Jackson Select Protector GMWB, including the GMWB Fixed Account, please see “For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up and Transfer of Assets Endorsement (Jackson Select Protector GMWB)” beginning on page 70.
 
15
 

We established the Separate Account on June 14, 1993, pursuant to the provisions of Michigan law.  The Separate Account is a separate account under state insurance law and a unit investment trust under federal securities law and is registered as an investment company with the SEC.

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

The assets of the Separate Account legally belong to us and the obligations under the Contracts are our obligations.  However, we are not allowed to use the Contract assets in the Separate Account to pay our liabilities arising out of any other business we may conduct.  All of the income, gains and losses resulting from these assets (whether or not realized) are credited to or charged against the Contracts and not against any other Contracts we may issue.

The Separate Account is divided into Investment Divisions.  We do not guarantee the investment performance of the Separate Account or any of its Investment Divisions.


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

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

 
JNL/American Funds® Balanced Allocation
 
JNL/American Funds Growth Allocation
 
JNL Institutional Alt 20
 
JNL Institutional Alt 35
 
JNL Institutional Alt 50
 
JNL/Franklin Templeton Founding Strategy
 
JNL/Mellon Capital 10 x 10
 
JNL/Mellon Capital Index 5
 
JNL/S&P 4
 
JNL/S&P Managed Conservative
 
JNL/S&P Managed Moderate
 
JNL/S&P Managed Moderate Growth
 
JNL/S&P Managed Growth
 
JNL/S&P Managed Aggressive Growth
 
JNL Disciplined Moderate
 
JNL Disciplined Moderate Growth
 
JNL Disciplined Growth

In addition to the Fund of Funds structure, certain of the Funds operate as feeder funds that invest in master funds.  These Funds are identified in the following descriptions by the designation (“Feeder Fund”) following the name of the Fund.  For more information about a Feeder Fund, you should read the prospectus for the JNL Series Trust.

Important information regarding the Investment Division investing in the JNL/Mellon Capital Communications Sector Fund (“the Division”): As of September 15, 2014, the JNL/Mellon Capital Communications Sector Investment Division stopped accepting any additional allocations or transfers. If as of September 15, 2014 you had an automatic program, such as Dollar Cost Averaging, Dollar Cost Averaging Plus, Earnings Sweep, and Rebalancing, and it included an allocation to the Division, you can continue to include the Division under the program based on your then existing election until you revise or terminate the automatic program. Any change to the then existing automatic program is not permitted if you wish to continue to include an allocation to the Division under the program. The Division is not available for any new or revised allocation instructions under any automatic program. If you
 
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have allocation instructions for future premium payments on file with us that include an allocation to the Division, you must choose a replacement Investment Division.  If you have not chosen a replacement Investment Division and make a subsequent premium payment, all such allocations to the Division prior to our receipt of new allocation instructions from you will be allocated to the JNL/WMC Money Market Investment Division.  Your representative can assist you in subsequently reallocating the Contract Value in the JNL/WMC Money Market Investment Division to any other available investment option. If you have the Jackson Select Protector Guaranteed Minimum Withdrawal Benefit (GMWB), automatic transfers apply under the Transfer of Assets provision. The automatic transfers are allocated based on your allocation instructions for future premium payments, described above.  Therefore, when you change your allocation instructions for future premium payments, you will also be changing your instructions under the Transfer of Assets provision. Prior to our receipt of new allocation instructions, the automatic transfers will continue to be based on your existing instructions. Amounts invested in the Division as of September 12, 2014 will remain invested unless we receive instruction from you. You may continue to make transfers and withdrawals out of the Division in connection with the usual transactions under a Contract, such as partial withdrawals or withdrawals under a GMWB, if available. However, if you transfer out of the Division on or after September 15, 2014 you will not be able to transfer back in.

The names of the Funds that are or were previously available, along with the names of the advisers and sub-advisers and a brief statement of each investment objective, are below:
JNL/American Funds Blue Chip Income and Growth Fund (“Feeder Fund”)
Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management CompanySM, investment adviser to the Master Fund)
 
Seeks both income exceeding the average yield on U.S. stocks generally and to provide an opportunity for growth of principal consistent with sound common stock investing through exclusive investment in the Class 1 shares of the American Funds Insurance Series® – Blue Chip Income and Growth FundSM (“Master Fund”). The Master Fund invests primarily in dividend-paying common stocks of larger, more established companies domiciled in the United States with market capitalizations greater than $4 billion.
 
JNL/American Funds Global Bond Fund (“Feeder Fund”)
Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management CompanySM, investment adviser to the Master Fund)
 
Seeks, over the long term, a high level of total return consistent with prudent investment management through exclusive investment in the Class 1 shares of the American Funds Insurance Series® – Global Bond FundSM (“Master Fund”). The Master Fund seeks to provide as high a level of total return as is consistent with prudent management, by investing at least 80% of its assets in bonds. As the Master Fund seeks to invest globally, the Master Fund will allocate its assets among securities of companies domiciled in various countries, including the United States and countries with emerging markets (but no fewer than three countries).
 
JNL/American Funds Global Small Capitalization Fund (“Feeder Fund”)
Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management CompanySM, investment adviser to the Master Fund)
 
Seeks growth of capital over time through exclusive investment in the Class 1 shares of the American Funds Insurance Series® – Global Small Capitalization FundSM (“Master Fund”). The Master Fund invests at least 80% of its net assets in growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) of companies with small market capitalizations, measured at the time of purchase. As the Master Fund seeks to invest globally, the Master Fund will allocate its assets among securities of companies domiciled in various countries, including the United States and countries with emerging markets (but no fewer than three countries).
 
JNL/American Funds Growth-Income Fund (“Feeder Fund”)
Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management CompanySM, investment adviser to the Master Fund)
 
Seeks long-term growth of capital and income through exclusive investment in the Class 1 shares of the American Funds Insurance Series® – Growth-Income FundSM (“Master Fund”). The Master Fund seeks to make the investment grow and provide income by investing primarily in common stocks or other securities that the investment adviser to the Master Fund believes demonstrate the potential for appreciation and/or dividends. The Master Fund may invest up to 15% of its assets, at the time of purchase, in securities of issuers domiciled outside the United States.
 
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JNL/American Funds International Fund (“Feeder Fund”)
Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management CompanySM, investment adviser to the Master Fund)
 
Seeks long-term growth of capital through exclusive investment in the Class 1 shares of the American Funds Insurance Series® – International FundSM (“Master Fund”). The Master Fund seeks to make the investment grow by investing primarily in common stocks of companies domiciled outside the United States, including companies domiciled in developing countries, that the investment adviser to the Master Fund believes have the potential for growth. Investors in the Master Fund should have a long-term perspective and, for example, be able to tolerate potentially sharp, short-term declines in value.
 
JNL/American Funds New World Fund (“Feeder Fund”)
Jackson National Asset Management, LLC, investment adviser to the Feeder Fund (and Capital Research and Management CompanySM, investment adviser to the Master Fund)
 
Seeks long-term capital appreciation through exclusive investment in the Class 1 shares of the American Funds Insurance Series® – New World Fund® (“Master Fund”). The Master Fund may invest in companies without regard to market capitalization, including companies with small market capitalizations.  Investors in the Master Fund should have a long-term perspective and, for example, be able to tolerate potentially sharp, short-term declines in value. Under normal market conditions, the Master Fund will invest at least 35% of its assets in equity and debt securities of issuers primarily based in qualified countries that have developing economies and/or markets.
 
JNL Institutional Alt 20 Fund
Jackson National Asset Management, LLC
 
Seeks long-term growth of capital and income by investing in Class A shares of a diversified group of other funds (“Underlying Funds”) that invest primarily in equity and fixed income securities.  The Underlying Funds in which the Fund may invest are series of the JNL Series Trust, the JNL Variable Fund LLC, and the Jackson Variable Series Trust.  Not all funds of the JNL Series Trust, the JNL Variable Fund LLC, and the Jackson Variable Series Trust are available as Underlying Funds.  The Fund allocates approximately 80% of its assets to traditional investment categories and approximately 20% to non-traditional investment categories. Investments may include Underlying Funds that invest in both domestic and international stocks of large established companies, in stocks of smaller companies with above-average growth potential.   As listed in the Fund prospectus, the Fund considers the Alternative Assets, Alternative Strategies, and Risk Management investment categories to be non-traditional, and the Domestic/Global Equity, Domestic/Global Fixed Income, International, International Fixed Income, Sector, Specialty, and Tactical Management investment categories to be traditional. Please see the Fund prospectus for more information.
 
JNL Institutional Alt 35 Fund
Jackson National Asset Management, LLC
 
Seeks long-term growth of capital and income by investing in Class A shares of a diversified group of other funds (“Underlying Funds”) that invest primarily in equity and fixed income securities.  The Underlying Funds in which the Fund may invest are series of the JNL Series Trust, the JNL Variable Fund LLC, and the Jackson Variable Series Trust.  Not all funds of the JNL Series Trust, the JNL Variable Fund LLC, and the Jackson Variable Series Trust are available as Underlying Funds.  The Fund allocates approximately 65% of its assets to traditional investment categories and approximately 35% to non-traditional investment categories. Investments may include Underlying Funds that invest in both domestic and international stocks of large established companies, in stocks of smaller companies with above-average growth potential.   As listed in the Fund prospectus, the Fund considers the Alternative Assets, Alternative Strategies, and Risk Management investment categories to be non-traditional, and the Domestic/Global Equity, Domestic/Global Fixed Income, International, International Fixed Income, Sector, Specialty, and Tactical Management investment categories to be traditional. Please see the Fund prospectus for more information.
 
JNL Institutional Alt 50 Fund
Jackson National Asset Management, LLC
 
Seeks long-term growth of capital and income by investing in Class A shares of a diversified group of other funds (“Underlying Funds”) that invest primarily in equity and fixed income securities.  The Underlying Funds in which the Fund may invest are series of the JNL Series Trust, the JNL Variable Fund LLC, and the Jackson Variable Series Trust.  Not all funds of the JNL Series Trust, the JNL Variable Fund LLC, and the Jackson Variable Series Trust are available as Underlying Funds.  The Fund allocates approximately 50% of its assets to traditional investment categories and approximately 50% to non-traditional investment categories. Investments may include Underlying Funds that invest in both domestic and international stocks of large established companies, in stocks of smaller companies with above-average growth potential.   As listed in the Fund prospectus, the Fund considers the Alternative Assets, Alternative Strategies, and Risk Management investment categories to be non-traditional, and the Domestic/Global Equity, Domestic/Global Fixed Income, International, International Fixed Income, Sector, Specialty, and Tactical Management investment categories to be traditional. Please see the Fund prospectus for more information.
 
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JNL/American Funds® Balanced Allocation Fund
Jackson National Asset Management, LLC
 
Seeks a balance between current income and growth of capital by investing in Class 1 shares of a diversified group of other Funds (“Underlying Funds”).  The Underlying Funds in which the Fund may invest are a part of the American Funds Insurance Series® (“AFIS”).  Not all Funds of AFIS are available as Underlying Funds.  Under normal circumstances, the Fund allocates approximately 50%-80% of its assets to Underlying Funds that invest primarily in equity securities and 20%-50% of its assets to Underlying Funds that invest primarily in fixed income securities.
 
JNL/American Funds Growth Allocation Fund
Jackson National Asset Management, LLC
 
Seeks capital growth with a secondary emphasis on current income by investing in Class 1 shares of a diversified group of other Funds (“Underlying Funds”).  The Underlying Funds in which the Fund may invest are a part of the American Funds Insurance Series® (“AFIS”).  Not all Funds of AFIS are available as Underlying Funds.  Under normal circumstances, the Fund allocates approximately 70%-100% of its assets to Underlying Funds that invest primarily in equity securities and 0%-30% of its assets to Underlying Funds that invest primarily in fixed income securities.
 
JNL/BlackRock Commodity Securities Strategy Fund
Jackson National Asset Management, LLC (and BlackRock Investment Management, LLC and BlackRock International Limited )
 
Seeks long-term capital growth by investing in equity securities and commodity-linked derivative instruments that provide exposure to the natural resources sector, as well as fixed income securities.
 
Under normal market conditions, the Fund will utilize two strategies and will invest approximately 50%-75% of its assets in the “Natural Resources Strategy,” and 25%-50% of its assets in the “Commodity Strategy.”  The “Natural Resources Strategy” will focus on companies active in the extraction, production, and processing of commodities and raw materials. The “Commodity Strategy” will focus on investments in commodity securities.
 
JNL/BlackRock Global Allocation Fund
Jackson National Asset Management, LLC (and BlackRock Investment Management, LLC)
 
Seeks high total investment return by investing in a portfolio of equity and debt securities, money market securities and other short-term securities or instruments of issuers located around the world.  Generally, the Fund will invest in both equity and debt securities and seeks diversification across markets, industries and issuers as one of its strategies to reduce volatility. Equity securities include common stock, rights and warrants, preferred stock, securities convertible into common stock, or securities or other instruments whose price is linked to the value of common stock.
 
JNL/BlackRock Large Cap Select Growth Fund
Jackson National Asset Management, LLC (and BlackRock Investment Management, LLC)
 
Seeks long-term capital appreciation by investing, under normal circumstances, at least 80% of its assets in equity securities of U.S. large capitalization companies.  The Fund defines large capitalization companies as those with a market capitalization of at least $2.5 billion at the time of investment. Investments in equity securities include common stock and preferred stock, as well as American Depository Receipts. In addition, up to 20% of the Fund’s net assets may be invested in foreign equity securities.
 
JNL/Brookfield Global Infrastructure and MLP Fund
Jackson National Asset Management, LLC (and Brookfield Investment Management Inc.)
 
Seeks total return through growth of capital and current income by investing primarily in securities of publicly traded infrastructure companies.  Under normal market conditions, the Fund will invest at least 80% of its net assets in MLPs and publicly traded equity securities of infrastructure companies listed on a domestic or foreign exchange.  MLPs may derive income and gains from the exploration, development, mining or production, process, refining, transportation, or marketing of any mineral or natural gas.
 
JNL/Capital Guardian Global Balanced Fund
Jackson National Asset Management, LLC (and Capital Guardian Trust Company)
 
Seeks income and capital growth, consistent with reasonable risk through investments in stocks and fixed income securities of U.S. and non-U.S. issuers.  The Fund’s neutral position is a blend of 65% equities and 35% fixed income, but may allocate 55% to 75% of the Fund’s assets to equity securities and 25% to 45% of the Fund’s assets to fixed income securities.  The Fund may also invest in debt securities of developing country (emerging market) issuers.
 
JNL/Capital Guardian Global Diversified Research Fund
Jackson National Asset Management, LLC (and Capital Guardian Trust Company)
 
Seeks long-term growth of capital and income by investing at least 80% of its assets in a portfolio consisting of equity securities of U.S. and non-U.S. issuers.  The Fund normally will invest in common stocks, preferred shares and convertible securities of companies with market capitalization greater than $1 billion at the time of purchase.  The Fund may also invest in equity securities of developing country (emerging market) issuers.
 
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JNL/DFA U.S. Core Equity Fund
Jackson National Asset Management, LLC (and Dimensional Fund Advisors LP)
 
Seeks long-term capital appreciation by investing, under normal market conditions, at least 80% of its assets in equity securities of U.S. companies.  The percentage allocation of the assets of the Fund to securities of the largest U.S. growth companies will generally be reduced from between 2.5% and 25% of their percentage weight in the U.S. universe.  The percentage by which the Fund’s allocation to securities of the largest U.S. growth companies is reduced will change due to market movements.  The range by which the Fund’s percentage allocation to all securities as compared to the U.S. universe may be modified after considering other factors the Sub-Adviser determines to be appropriate.
 
JNL/Eagle SmallCap Equity Fund
Jackson National Asset Management, LLC (and Eagle Asset Management, Inc.)
 
Seeks long-term capital appreciation by investing, under normal circumstances, at least 80% of its assets in a diversified portfolio of equity securities of U.S. companies with market capitalizations in the range of the companies represented by the Russell 2000® Index.  The Fund’s equity holdings consist primarily of common stocks, but may also include preferred stocks and investment grade securities convertible into common stocks, and warrants.
 
JNL/Eastspring Investments Asia ex-Japan Fund
Jackson National Asset Management, LLC (and Eastspring Investments (Singapore) Limited)
 
Seeks long-term total return by investing under normal circumstances at least 80% of its assets in equity and equity-related securities of companies, which are listed, incorporated, or have their area of primary activity in the Asia ex-Japan region.  Consistent with the Fund’s objectives, the Fund may from time to time purchase derivative securities, including, but not limited to, forward currency contracts, futures, and options to, among other reasons, manage foreign currency and security exposure, provide liquidity, provide exposure not otherwise available, manage risk and implement investment strategies in a more efficient manner. 
 
JNL/Eastspring Investments China-India Fund
Jackson National Asset Management, LLC (and Eastspring Investments (Singapore) Limited)
 
Seeks long-term total return by investing normally, 80% of its assets in equity and equity-related securities (such as depositary receipts, convertible bonds and warrants) of corporations, which are incorporated in, or listed in, or have their area of primary activity in the People’s Republic of China and India.  Consistent with the Fund’s objectives, the Fund may from time to time purchase derivative securities, including, but not limited to, forward currency contracts, futures, and options to, among other reasons, manage foreign currency and security exposure, provide liquidity, provide exposure not otherwise available, manage risk and implement investment strategies in a more efficient manner. 
 
JNL/Franklin Templeton Founding Strategy Fund
Jackson National Asset Management, LLC
 
Seeks capital appreciation by investing in Class A shares of a diversified group of other Funds: JNL/Franklin Templeton Income Fund; JNL/Franklin Templeton Global Growth Fund; and, JNL/Franklin Templeton Mutual Shares Fund (“Underlying Funds”). The Fund allocates approximately 33 1/3% of its assets and cash flow among the Underlying Funds. These Underlying Funds, in turn invest primarily in U.S. and foreign equity securities, and, to a lesser extent, fixed income and money market securities.
 
JNL/Franklin Templeton Global Growth Fund
Jackson National Asset Management, LLC (and Templeton Global Advisors Limited)
 
Seeks long-term capital growth by investing, under normal market conditions, primarily in the equity securities of companies located anywhere in the world, including emerging markets.  The equity securities in which the Fund primarily invests are common stock. Although the Fund seeks investments across a number of countries and sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular countries or sectors.
 
JNL/Franklin Templeton Global Multisector Bond Fund
Jackson National Asset Management, LLC (and Franklin Advisers, Inc.)
 
Seeks total investment return consisting of a combination of interest income, capital appreciation, and currency gains. Under normal market conditions the Fund will invest at least 80% of its assets in fixed and floating rate debt securities and debt obligations (including convertible bonds) of governments, government-related issuers, or corporate issuers worldwide. The Fund may also invest in inflation-indexed securities and securities or structured products that are linked to or derive their value from another security, asset or currency of any nation. The Fund’s assets will be invested in issuers located in at least three countries (including the U.S.).
 
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JNL/Franklin Templeton Income Fund
Jackson National Asset Management, LLC (and Franklin Advisers, Inc.)
 
Seeks to maximize income while maintaining prospects for capital appreciation by investing, under normal market conditions, in a diversified portfolio of debt and equity securities.  The equity securities in which the Fund invests consist primarily of common stock. The Fund seeks income by selecting investments such as corporate, foreign and U.S. Treasury bonds, as well as stocks with attractive dividend yields.
 
JNL/Franklin Templeton International Small Cap Growth Fund
Jackson National Asset Management, LLC (and Franklin Templeton Institutional, LLC and Templeton Investment Counsel, LLC)
 
Seeks long-term capital appreciation by investing, under normal market conditions, at least 80% of its assets in a diversified portfolio of investments  of smaller international companies, located outside of the U.S., including those of emerging or developing markets.  The Fund invests predominately in securities listed or traded on recognized international markets in developed countries included in MSCI EAFE Small Cap Index and All Country World exUS Small Cap Index.  The Fund may, from time to time, have significant investments in a particular sector or country.
 
JNL/Franklin Templeton Mutual Shares Fund
Jackson National Asset Management, LLC (and Franklin Mutual Advisers, LLC)
 
Seeks capital appreciation, which may occasionally be short-term (which is capital appreciation return on investment in less than 12 months), and secondarily, income. The Fund, under normal market conditions, invests primarily in equity securities (including securities convertible into, or that the sub-adviser expects to be exchanged for, common or preferred stock) of U.S. and foreign companies that the sub-adviser believes are available at market prices less than their value based on certain recognized or objective criteria (intrinsic value).  Following this value-oriented strategy, the Fund invests in undervalued securities (securities trading at a discount to intrinsic value). The equity securities in which the Fund invests are primarily common stock.
 
JNL/Franklin Templeton Small Cap Value Fund
Jackson National Asset Management, LLC (and Franklin Advisory Services, LLC)
 
Seeks long-term total return by investing, under normal market conditions, at least 80% of its assets in investments of small-capitalization companies with market capitalizations (the total market value of a company’s outstanding stock) under $3.5 billion at the time of purchase.  The Fund invests primarily in common stocks.  The Fund may invest up to 25% of its total assets in foreign securities.
 
JNL/Goldman Sachs Core Plus Bond Fund
Jackson National Asset Management, LLC (and Goldman Sachs Asset Management, L.P. and sub-sub-adviser: Goldman Sachs Asset Management International)
 
Seeks a high level of current income, with capital appreciation as a secondary objective. The Fund invests, under normal circumstances, at least 80% of its assets in a globally diverse portfolio of bonds and other fixed income securities and related investments.  The Sub-Adviser has broad discretion to invest the Fund’s assets among certain segments of the fixed income market including in U.S. investment-grade bonds, collateralized loan obligations, high-yield non-investment grade debt securities, corporate debt securities, emerging market debt securities and in obligations of domestic and foreign issuers which may be denominated in currencies other than the U.S. dollar.
 
JNL/Goldman Sachs Mid Cap Value Fund
Jackson National Asset Management, LLC (and Goldman Sachs Asset Management, L.P.)
 
Seeks long-term capital appreciation by investing, under normal circumstances, at least 80% of its assets in securities within the market capitalization range of the Russell Midcap® Value Index and Russell 2500 Value Index.  The Fund may invest up to 25% of its net assets in foreign securities, including securities of issuers in emerging countries and securities denominated in foreign currencies.  
 
JNL/Goldman Sachs U.S. Equity Flex Fund
Jackson National Asset Management, LLC (Goldman Sachs Asset Management, L.P.)
 
Seeks long-term capital appreciation by investing in a broad mix of equity securities that aims to produce long-term capital appreciation and target attractive risk adjusted returns compared to the S&P 500 Index.  In seeking to outperform its benchmark index, the S&P 500 Index, the Fund will hold long securities that the Sub-Adviser believes are more likely to outperform the index, and will take short positions in securities the Sub-Adviser believes will underperform the index.
 
JNL/Invesco Global Real Estate Fund
Jackson National Asset Management, LLC (and Invesco Advisers, Inc. and sub-sub-adviser: Invesco Asset Management Limited)
 
Seeks high total return by investing, normally, at least 80% of its assets in securities of real estate and real estate-related companies, including real estate investment trusts and in derivatives and other instruments that have economic characteristics similar to such securities.  The companies will be located in at least three different countries, including the U.S.
 
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JNL/Invesco International Growth Fund
Jackson National Asset Management, LLC (and Invesco Advisers, Inc.)
 
Seeks long-term growth of capital by primarily investing in equity securities and depository receipts of foreign issuers. The Fund focuses its investments in common and preferred stock and invests, under normal circumstances in securities of companies located in at least three countries outside of the U.S.  The Fund may also invest no more than 30% in emerging markets securities.
 
JNL/Invesco Large Cap Growth Fund
Jackson National Asset Management, LLC (and Invesco Advisers, Inc.)
 
Seeks long-term growth of capital by investing, normally, at least 80% of its assets in securities of large-capitalization companies.  The Fund considers a company to be a large-capitalization company if it has a market capitalization, at the time of purchase, no smaller than the smallest capitalized company included in the Russell 1000® Index during the most recent 11-month period (based on month-end data) plus the most recent data during the current month. The Fund may also invest up to 25% of its total assets in foreign securities.
 
JNL/Invesco Mid Cap Value Fund
Jackson National Asset Management, LLC (and Invesco Advisers, Inc.)
 
Seeks total return through growth of capital by investing at least 80% of its assets in a non-diversified portfolio of equity securities of U.S. companies with market capitalizations generally in the range of $2 billion to $10 billion or in the range of companies represented in the Russell Mid Cap Index and that the sub-adviser believes are undervalued.
 
JNL/Invesco Small Cap Growth Fund
Jackson National Asset Management, LLC (and Invesco Advisers, Inc.)
 
Seeks long-term growth of capital by investing, normally, at least 80% of its assets in equity securities of small-capitalization companies.  The Fund considers a company to be a small-capitalization company if it has a market capitalization, at the time of purchase, no larger than the largest capitalized company included in the Russell 2000® Index during the most recent 11-month period (based on month-end data) plus the most recent data during the current month. The Fund may also invest up to 20% of its assets in equity securities of issuers that have market capitalizations, at the time of purchase, in other market capitalization ranges, and in investment-grade non-convertible debt securities, U.S. government securities and high quality money market instruments. The Fund may also invest up to 25% of its total assets in foreign securities.
 
JNL/Ivy Asset Strategy Fund
Jackson National Asset Management, LLC (and Ivy Investment Management Company)
 
Seeks to provide total return by allocating its assets primarily among stocks, bonds, and short-term instruments of issuers in markets located around the globe, as well as investments in derivative instruments, precious metals and investments with exposure to various foreign currencies.  The Fund may invest up to 100% of its total assets in foreign securities.  
 
JNL/JPMorgan International Value Fund
Jackson National Asset Management, LLC (and J.P. Morgan Investment Management Inc.)
 
Seeks high total return from a portfolio of equity securities of foreign companies in developed and, to a lesser extent, developing markets by investing. The Fund invests, under normal circumstances, at least 80% of its assets in a diversified portfolio consisting primarily of value common stocks of non-U.S. companies. The Fund seeks to invest mainly in, but is not limited to, securities included in the MSCI EAFE Value Index.  The Fund may also invest in the equity securities of companies in developing countries or “emerging markets.”
 
JNL/JPMorgan MidCap Growth Fund
Jackson National Asset Management, LLC (and J.P. Morgan Investment Management Inc.)
 
Seeks capital growth over the long-term by investing, under normal market circumstances, at least 80% of its assets in a broad portfolio of common stocks of companies with market capitalizations equal to those within the universe of Russell Midcap Growth Index stocks at the time of purchase.  Market capitalization is the total market value of a company’s shares.  The Fund may also invest up to 20% of its total assets in all types of foreign securities.
 
JNL/JPMorgan U.S. Government & Quality Bond Fund
Jackson National Asset Management, LLC (and J.P. Morgan Investment Management Inc.)
 
Seeks to obtain a high level of current income by investing, under normal circumstances, at least 80% of its assets in U.S. Treasury securities, obligations issued by agencies or instrumentalities of the U.S. government (which may not be backed by the U.S. government) and mortgage-backed securities, that are supported either by the full faith and credit of the U.S. government or their own credit, collateralized mortgage obligations issued by private issuers, repurchase agreements and derivatives related to the principal investments.  The Fund may also invest in high-quality corporate debt securities.
 
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JNL/Mellon Capital 10 x 10 Fund
Jackson National Asset Management, LLC
 
 
Seeks capital appreciation and income by investing in Class A shares of the following Underlying Funds:
 
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50% in the JNL/Mellon Capital JNL 5 Fund;
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10% in the JNL/Mellon Capital S&P 500 Index Fund;
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10% in the JNL/Mellon Capital S&P 400 MidCap Index Fund;
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10% in the JNL/Mellon Capital Small Cap Index Fund;
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10% in the JNL/Mellon Capital International Index Fund; and
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10% in the JNL/Mellon Capital Bond Index Fund.
 
JNL/Mellon Capital Index 5 Fund
Jackson National Asset Management, LLC
 
Seeks capital appreciation by investing in Class A shares of the following Underlying Funds:
 
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20% in the JNL/Mellon Capital S&P 500 Index Fund;
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20% in the JNL/Mellon Capital S&P 400 MidCap Index Fund;
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20% in the JNL/Mellon Capital Small Cap Index Fund;
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20% in the JNL/Mellon Capital International Index Fund; and
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20% in the JNL/Mellon Capital Bond Index Fund.
 
JNL/Mellon Capital Emerging Markets Index Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to track the performance of a benchmark index that measures the investment return of stocks issued by companies located in emerging market countries. The Fund invests, under normal circumstances, at least 80% of its assets in stocks included in the MSCI Emerging Markets Index (“Index”), including depositary receipts representing securities of the Index.  The Fund attempts to replicate the Index by investing all or substantially all of its assets in the stocks that comprise the Index. 
 
JNL/Mellon Capital European 30 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to provide capital appreciation by investing at least 80% of its assets in the common stock of 30 companies selected from the MSCI Europe Index.
 
JNL/Mellon Capital Pacific Rim 30 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to provide capital appreciation by investing under normal circumstances at least 80% of its assets in the common stock of 30 companies selected from the MSCI Pacific Index.
 
JNL/Mellon Capital S&P 500 Index Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to match the performance of the S&P 500® Index.  The Fund seeks to invest under normal circumstances at least 80% of its assets in the stocks in the S&P 500 Index in proportion to their market capitalization weighting in the S&P 500 Index in order to provide long-term capital growth.
 
JNL/Mellon Capital S&P 400 MidCap Index Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to match the performance of the S&P MidCap 400 Index.  The Fund invests in equity securities of medium capitalization-weighted domestic corporations. Under normal circumstances the Fund invests at least 80% of its assets in the stocks in the S&P MidCap 400 Index in proportion to their market capitalization weighting in the S&P MidCap 400 Index in order to provide long-term capital growth.
 
JNL/Mellon Capital Small Cap Index Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to match the performance of the Russell 2000® Index.  The Fund invests in equity securities of small- to mid-size domestic companies. Under normal circumstances the Fund invests at least 80% of its assets in a portfolio of securities, which seeks to match performance and characteristics of the Russell 2000 Index through replicating a majority of the Russell 2000 Index and sampling from the remaining securities in order to provide long-term growth of capital.
 
JNL/Mellon Capital International Index Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to match the performance of the Morgan Stanley Capital International (“MSCI”) Europe Australia Far East (“EAFE”) Index. The Fund invests in international equity securities attempting to match the characteristics of each country within the index. Under normal circumstances the Fund invests at least 80% of its assets in the stocks included in the MCSI EAFE Index or derivative securities economically related to the MSCI EAFE Index in order to provide long-term capital growth.
 
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JNL/Mellon Capital Bond Index Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to match the performance of the Barclays U.S. Aggregate Bond Index by investing under normal circumstances at least 80% of its assets in fixed income securities.  The Fund seeks to provide a moderate rate of income by investing in domestic fixed income investments.
 
JNL/Mellon Capital Dow Jones U.S. Contrarian Opportunities Index Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks to match the performance of the Dow Jones U.S. Contrarian Opportunities Index.  The Fund is constructed to mirror the Dow Jones U.S. Contrarian Opportunities Index to systematically measure the performance of stocks that lag behind the broader market in terms of recent performance, but that outrank their peers based on fundamentals-based and other qualitative criteria.
 
JNL/Morgan Stanley Mid Cap Growth Fund
Jackson National Asset Management, LLC (and Morgan Stanley Investment Management Inc.)
 
Seeks long-term capital growth by investing, under normal circumstances, at least 80% of its assets in equity securities of mid cap companies, primarily in established and emerging companies with capitalizations within the range of companies included in the Russell Midcap® Growth Index.
 
JNL/Neuberger Berman Strategic Income Fund
Jackson National Asset Management, LLC (and Neuberger Berman Fixed Income LLC)
 
Seeks high current income with long-term capital appreciation as its secondary objective by investing primarily in a diversified mix of fixed rate and floating rate debt securities. The Fund’s investments may include securities issued by domestic and foreign governments, corporate entities, and trust structures. The Fund may invest in a broad array of securities, including: securities issued or guaranteed as to principal or interest by the U.S. government or any of its agencies or instrumentalities; corporate bonds; commercial paper; currencies and non-U.S. securities; mortgage-backed securities and other asset-backed securities; and loans.
 
JNL/Oppenheimer Global Growth Fund
Jackson National Asset Management, LLC (and OppenheimerFunds, Inc.)
 
Seeks capital appreciation by investing mainly in common stocks of companies in the U.S. and foreign countries.  The Fund can invest without limit in foreign securities and can invest in any country, including countries with developing or emerging markets.  However, the Fund currently emphasizes investments in developed markets such as the United States, Western European countries and Japan.  The Fund does not limit its investments to companies in a particular capitalization range, but primarily invests in mid-capitalization and large-capitalization companies.
 
JNL/PIMCO Real Return Fund
Jackson National Asset Management, LLC (and Pacific Investment Management Company LLC)
 
Seeks maximum real return, consistent with preservation of real capital and prudent investment management. The Fund invests, under normal circumstances, at least 80% of its assets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations.  Assets not invested in inflation-indexed bonds may be invested in other types of Fixed Income Instruments, which include bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities.
 
JNL/PIMCO Total Return Bond Fund
Jackson National Asset Management, LLC (and Pacific Investment Management Company LLC)
 
Seeks to realize maximum total return, consistent with the preservation of capital and prudent investment management. The Fund invests, under normal circumstances, at least 80% of its assets in a diversified portfolio of fixed income instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements.
 
JNL/PPM America Floating Rate Income Fund
Jackson National Asset Management, LLC (and PPM America, Inc.)
 
Seeks to provide a high level of current income by investing, under normal circumstances, at least 80% of its net assets in floating rate loans and other floating rate investments, defined as floating rate loans, floating rate notes, other floating rate debt securities, structured products, money market securities of all types, repurchase agreements, shares of money market funds, short-term bond funds and floating rate funds.   Further, while not a principal investment strategy, the Fund may engage in derivatives transactions. Investment in such derivative or other synthetic instruments that have economic characteristics similar to the floating rate investments may be used for the purpose of satisfying the 80% minimum investment requirement.
 
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JNL/PPM America High Yield Bond Fund
Jackson National Asset Management, LLC (and PPM America, Inc.)
 
Seeks to maximize current income, with capital appreciation as a secondary objective, by investing, under normal circumstances, at least 80% of its assets in high-yield, high-risk debt securities, commonly referred to as “junk bonds” and related investments.  Further, while not a principal investment strategy, the Fund may engage in derivatives transactions. Investment in derivatives instruments that have economic characteristics similar to the fixed income investments may be used for the purpose of satisfying the 80% minimum investment requirement.  The Fund may also invest in securities of foreign issuers.  To the extent that the Fund invests in emerging market debt, this will be considered as an investment in a high-yield security for purposes of the 80% investment minimum requirement.
 
JNL/PPM America Mid Cap Value Fund
Jackson National Asset Management, LLC (and PPM America, Inc.)
 
Seeks long-term growth of capital by investing, primarily, at least 80% of its assets in a diversified portfolio of equity securities of U.S. companies with market capitalizations within the range of companies constituting the Russell Midcap Index (“Index”) under normal market conditions at the time of the initial purchase.  The market capitalization range of the Index will vary with market conditions over time.  If the market capitalization of a company held by the Fund moves outside the then-current Index range, the Fund may, but is not required to, sell the securities.
 
JNL/PPM America Small Cap Value Fund
Jackson National Asset Management, LLC (and PPM America, Inc.)
 
Seeks long-term growth of capital by investing, primarily, at least 80% of its assets in a diversified portfolio of equity securities of U.S. companies within the range of securities of the S&P SmallCap 600 Index (“Index”) under normal market conditions at the time of initial purchase.  The market capitalization range of the Index will vary with market conditions over time.  If the market capitalization of a company held by the Fund moves outside the then-current Index range, the Fund may, but is not required to, sell the securities.
 
JNL/PPM America Value Equity Fund
Jackson National Asset Management, LLC (and PPM America, Inc.)
 
Seeks long-term growth of capital by investing, primarily, in a diversified portfolio of equity securities of domestic companies.  Such companies will typically have market capitalizations within the range of companies constituting the S&P 500 Index (“Index”) under normal market conditions at the time of the initial purchase.  The market capitalization range of the Index will vary with market conditions over time.  At least 80% of its assets will be invested, under normal circumstances, in equity securities.
 
JNL/T. Rowe Price Established Growth Fund
Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)
 
Seeks long-term growth of capital and increasing dividend income by investing generally in common stocks of large-capitalization companies.  The Sub-Adviser seeks investments in companies with one or more of the following characteristics:  strong cash flow and an above-average rate of earnings growth; the ability to sustain earnings momentum during economic downturns; and occupation of a lucrative niche in the economy and the ability to expand even during times of slow economic growth.  While the Fund invests principally in U.S. common stocks, other securities may also be purchased, including foreign stocks, futures and options.
 
JNL/T. Rowe Price Mid-Cap Growth Fund
Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)
 
Seeks long-term growth of capital by investing at least 80% of its assets, under normal circumstances, in a broadly diversified portfolio of common stocks of medium-sized (mid-capitalization) companies whose earnings the sub-adviser expects to grow at a faster rate than the average company.
 
JNL/T. Rowe Price Short-Term Bond Fund
Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)
 
Seeks a high level of income consistent with minimal fluctuation in principal value and liquidity by investing in a diversified portfolio of short- and intermediate-term investment-grade corporate, government, and mortgage-backed securities.  The Fund may also invest in money market securities, bank obligations, collateralized mortgage obligations, and foreign securities. Normally, the Fund will invest at least 80% of its net assets in bonds.  The Fund will only purchase securities that are rated within the four highest credit categories (e.g. AAA, AA, A, BBB, or equivalent) at the time of purchase by at least one major credit rating agency or, if unrated, deemed to be of comparable quality by the Sub-Adviser.
 
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JNL/T. Rowe Price Value Fund
Jackson National Asset Management, LLC (and T. Rowe Price Associates, Inc.)
 
Seeks long-term capital appreciation by investing, via a value approach investment selection process, at least 65% of total assets in common stocks believed to be undervalued.  Stock holdings are expected to consist primarily of large-company stocks, but may also include mid-cap and small-cap companies. The Fund may invest up to 25% of its total assets (excluding reserves) in foreign securities. Income is a secondary objective.
 
JNL/WMC Balanced Fund
Jackson National Asset Management, LLC (and Wellington Management Company LLP)
 
Seeks reasonable income and long-term capital growth by investing primarily in a diversified portfolio of common stock and investment grade fixed income securities.  The Fund may invest in any type or class of security. The anticipated mix of the Fund’s holdings is typically 60-70% of its assets in equities and 30-40% in fixed income securities, including cash and cash equivalents.
 
JNL/WMC Money Market Fund
Jackson National Asset Management, LLC (and Wellington Management Company LLP)
 
Seeks a high level of current income as is consistent with the preservation of capital and maintenance of liquidity by investing in high quality, U.S. dollar-denominated short-term money market instruments that mature in 397 days or less. The Fund primarily invests in money market instruments rated in one of the two highest short-term credit rating categories, including: (i) obligations issued or guaranteed as to principal and interest by the U.S. government, its agencies and instrumentalities or by state and local governments; (ii) time deposits, certificates of deposit and bankers acceptances, issued by banks and other lending institutions; (iii) commercial paper and other short-term obligations of U.S. and foreign issuers (including asset-backed securities); (iv) obligations issued or guaranteed by foreign governments or any of their political subdivisions, agencies or instrumentalities, including obligations of supranational entities; and (v) repurchase agreements on obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities.
 
JNL/WMC Value Fund
Jackson National Asset Management, LLC (and Wellington Management Company LLP)
 
Seeks long-term growth of capital by investing under normal circumstances at least 65% of its total assets in common stocks of domestic companies.  Although the Fund may invest in companies with a broad range of market capitalizations, the Fund will tend to focus on companies with large market capitalizations (generally above $3 billion).  The Fund may invest up to 20% of its total assets in the securities of foreign issuers.
 
JNL/S&P Competitive Advantage Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC and Mellon Capital Management Corporation)
 
Seeks capital appreciation by investing approximately equal amounts in the common stock of 30 companies included in the S&P 500 that are, believed to have superior profitability, as measured by return on invested capital, and trade a relatively attractive valuations .  In selecting companies, Standard & Poor’s Investment Advisory Services LLC looks for the 30 companies ranked by return on invested capital and lowest market-to-book multiples.
 
JNL/S&P Dividend Income & Growth Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC and Mellon Capital Management Corporation)
 
Seeks primarily capital appreciation with a secondary focus on current income by investing approximately equal amounts in the common stock of the 30 companies included in the S&P 500 that have attractive dividend yields and strong capital structures as determined by Standard & Poor’s Investment Advisory Services LLC .  The companies with the highest Dividend Yield, are selected from each of 10 economic sectors in the S&P 500 , with approximately equal exposure to each sector .
 
JNL/S&P Intrinsic Value Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC and Mellon Capital Management Corporation)
 
Seeks capital appreciation by investing approximately equal amounts in the common stock of 30 companies included in the S&P 500, excluding financial companies, that are, in the opinion of Standard & Poor’s Investment Advisory Services LLC, companies that generate strong free cash flows and sell at relatively attractive valuations .
 
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JNL/S&P Total Yield Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC and Mellon Capital Management Corporation)
 
Seeks capital appreciation by investing approximately equal amounts in the common stock of the 30 companies included in the S&P 500 that generate positive cash flow and have a strong track record, as determined by the Sub-Adviser, of returning cash to investors, such as through dividends, share repurchases or debt retirement .
 
JNL/S&P Mid 3 Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC and Mellon Capital Management Corporation)
 
Seeks capital appreciation by investing in common stocks of companies that are identified by a model based on three separate investment strategies.  The Fund invests approximately 1/3 of its net assets in the following strategies:
 
Ø  
MID Competitive Advantage Strategy;
Ø  
MID Intrinsic Value Strategy; and
Ø  
MID Total Equity Yield Strategy.
 
JNL/S&P 4 Fund
Jackson National Asset Management, LLC
 
Seeks capital appreciation by making initial allocations (25%) of its assets and cash flows to the following four Underlying Funds (Class A) on a specific date each year:
 
Ø  
25% in JNL/S&P Competitive Advantage Fund;
Ø  
25% in JNL/S&P Dividend Income & Growth Fund;
Ø  
25% in JNL/S&P Intrinsic Value Fund; and
Ø  
25% in JNL/S&P Total Yield Fund.
 
JNL/S&P Managed Conservative Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC)
 
Seeks current income, with capital growth as a secondary objective, by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.
 
Under normal circumstances, the Fund allocates approximately 10%-30% of its assets to Underlying Funds that invest primarily in equity securities, 70%-90% to Underlying Funds that invest primarily in fixed income securities and 0%-30% to Underlying Funds that invest primarily in money market securities.
 
JNL/S&P Managed Moderate Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC)
 
Seeks current income and capital growth by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.
 
Under normal circumstances, the Fund allocates approximately 30%-50% of its assets to Underlying Funds that invest primarily in equity securities, 50%-70% to Underlying Funds that invest primarily in fixed income securities and 0-25% to Underlying Funds that invest primarily in money market securities.
 
JNL/S&P Managed Moderate Growth Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC)
 
Seeks capital growth and current income by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.
 
Under normal circumstances, the Fund allocates approximately 50%-70% of its assets to Underlying Funds that invest primarily in equity securities, 30%-50% to Underlying Funds that invest primarily in fixed income securities and 0%-20% to Underlying Funds that invest primarily in money market securities.
 
JNL/S&P Managed Growth Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC)
 
Seeks capital growth, with current income as a secondary objective, by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.
 
Under normal circumstances, the Fund allocates approximately 70%-90% of its assets to Underlying Funds that invest primarily in equity securities, 10%-30% to Underlying Funds that invest primarily in fixed income securities and 0-15% to Underlying Funds that invest primarily in money market securities.
 
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JNL/S&P Managed Aggressive Growth Fund
Jackson National Asset Management, LLC (and Standard & Poor’s Investment Advisory Services LLC)
 
Seeks capital growth by investing in Class A Shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.
 
Under normal circumstances, the Fund allocates up to 80%-100% of its assets to Underlying Funds that invest primarily in equity securities, 0%-20% to Underlying Funds that invest primarily in fixed income securities and 0%-10% to Underlying Funds that invest primarily in money market securities.
 
JNL Disciplined Moderate Fund
Jackson National Asset Management, LLC
 
Seeks capital growth, and secondarily, current income by investing in Class A shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.
 
Under normal circumstances, the Fund allocates approximately 40%-80% of its assets to Underlying Funds that invest primarily in equity securities, 20%-60% to Underlying Funds that invest primarily in fixed income securities and 0%-20% of its assets to Underlying Funds that invest primarily in money market securities.
 
JNL Disciplined Moderate Growth Fund
Jackson National Asset Management, LLC
 
Seeks capital growth and current income by investing in Class A shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.
 
Under normal circumstances, the Fund allocates approximately 60%-90% of its assets to Underlying Funds that invest primarily in equity securities, 10%-40% to Underlying Funds that invest primarily in fixed income securities and 0%-20% of its assets to Underlying Funds that invest primarily in money market securities.
 
JNL Disciplined Growth Fund
Jackson National Asset Management, LLC
 
Seeks capital growth by investing in Class A shares of a diversified group of other Funds (“Underlying Funds”), which are part of the JNL Series Trust, the JNL Variable Fund LLC, the JNL Investors Series Trust and the Jackson Variable Series Trust.
 
Under normal circumstances, the Fund allocates approximately 70%-100% of its assets to Underlying Funds that invest primarily in equity securities, 0%-30% to Underlying Funds that invest primarily in fixed income securities and 0%-20% of its assets to Underlying Funds that invest primarily in money market securities.
JNL/PPM America Total Return Fund
Jackson National Asset Management, LLC (and PPM America, Inc.)
 
Seeks to realize maximum total return, consistent with the preservation of capital and prudent investment management.  Under normal circumstances, the Fund invests at least 80% of its assets in a diversified portfolio of fixed-income investments of U.S. and foreign issuers such as government, corporate, mortgage- and other asset-backed securities and cash equivalents.  The Fund may also invest in derivative instruments.
JNL/Mellon Capital DowSM 10 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through a combination of capital appreciation and dividend income by investing approximately equal amounts in the common stock of the ten companies included in the Dow Jones Industrial Average which have the highest indicated annual dividend yields.
 
JNL/Mellon Capital Global 15 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through a combination of capital appreciation and dividend income by investing in the common stocks of certain companies which are components of the Dow Jones Industrial Average, the Financial Times Ordinary Index and the Hang Seng Index.
 
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JNL/Mellon Capital Nasdaq® 25 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return by investing in the common stocks of the 25 companies that are expected to have a potential for capital appreciation.  The Nasdaq 25 Strategy selects a portfolio of common stocks of 25 companies selected from stocks included in the Nasdaq-100 Index®.
 
JNL/Mellon Capital S&P® 24 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through capital appreciation by investing approximately equal amounts in the common stocks of 24 companies that have the potential for capital appreciation, on a specific date each year.
 
JNL/Mellon Capital S&P® SMid 60 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks capital appreciation by investing in the common stock of 30 companies included in the Standard & Poor’s MidCap 400 Index and 30 companies in the Standard & Poor’s SmallCap 600 Index.  The Fund seeks to achieve its objective by identifying small and mid-capitalization companies with improving fundamental performance and sentiment.  The Sub-Adviser follows a process that attempts to select small and mid-cap companies that are likely to be in an earlier stage of their economic life cycle than mature large-cap companies.
 
JNL/Mellon Capital 25 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through a combination of capital appreciation and dividend income by investing the common stocks of 25 companies selected from a pre-screened subset of the stocks listed on the New York Stock Exchange (“NYSE”). The companies in the portfolio are determined by selecting all of the dividend-paying stocks listed on the NYSE. Next, the 400 highest market capitalization stocks are selected which are then ranked by dividend yield and 75 of the highest dividend yielding stocks are selected. From the remaining 75 stocks, the 50 highest dividend yielding stocks are eliminated and the remaining 25 companies are selected only once annually on a specific date each year.
 
JNL/Mellon Capital JNL 5 Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through capital appreciation and dividend income by investing in the common stocks of companies that are identified by a model based on five different specialized strategies:
 
Ø  
20% in the DowSM 10 Strategy, a dividend yielding strategy;
Ø  
20% in the S&P® 10 Strategy, a blended valuation-momentum strategy;
Ø  
20% in the Global 15 Strategy, a dividend yielding strategy;
Ø  
20% in the 25 Strategy, a dividend yielding strategy; and
Ø  
20% in the Select Small-Cap Strategy, a small capitalization strategy.
 
JNL/Mellon Capital Communications Sector Fund  (Please Note:  The Investment Division investing in the JNL/Mellon Capital Communications Sector Fund is not accepting any additional allocations or transfers.)
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Telecommunication Services 25/50 Index in proportion to their market capitalization weighting in the MSCI USA IMI Telecommunication Services 25/50 Index.
 
JNL/Mellon Capital Consumer Brands Sector Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Consumer Discretionary Index in proportion to their market capitalization weighting in the MSCI USA IMI Consumer Discretionary Index.
 
JNL/Mellon Capital Financial Sector Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Financials Index in proportion to their market capitalization weighting in the MSCI USA IMI Financials Index.
 
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JNL/Mellon Capital Healthcare Sector Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Health Care Index in proportion to their market capitalization weighting in the MSCI USA IMI Health Care Index.
 
JNL/Mellon Capital Oil & Gas Sector Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Energy Index in proportion to their market capitalization weighting in the MSCI USA IMI Energy Index.
 
JNL/Mellon Capital Technology Sector Fund
Jackson National Asset Management, LLC (and Mellon Capital Management Corporation)
 
Seeks total return through capital appreciation and dividend income by investing, under normal circumstances, at least 80% of its assets in the stocks in the MSCI USA IMI Information Technology Index in proportion to their market capitalization weighting in the MSCI USA IMI Information Technology Index.
 
 
The investment objectives and policies of certain Funds are similar to the investment objectives and policies of other mutual funds that the Fund’s investment sub-advisers also manage.  Although the objectives and policies may be similar, the investment results of the Funds may be higher or lower than the results of those other mutual funds.  We cannot guarantee, and make no representation, that the investment results of similar Funds will be comparable even though the Funds have the same investment sub-advisers.  The Funds described are available only through variable annuity contracts issued by Jackson.  They are NOT offered or made available to the general public directly.

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

You should read the prospectuses for the JNL Series Trust , the JNL Variable Fund LLC , and the JNL Investors Series Trust carefully before investing.  Additional Funds and Investment Divisions may be available in the future.  The prospectuses for the JNL Series Trust , the JNL Variable Fund LLC , and the JNL Investors Series Trust are attached to this prospectus.  However, these prospectuses may also be obtained at no charge by calling 1-800-644-4565 (Annuity and Life Service Center) or 1-800-777-7779 (for contracts purchased through a bank or financial institution), by writing P.O. Box 30314, Lansing, Michigan 48909-7814, or by visiting www.jackson.com.

Voting Privileges. To the extent required by law, we will obtain instructions from you and other Owners about how to vote our shares of a Fund when there is a vote of shareholders of a Fund.  We will vote all the shares we own in proportion to those instructions from Owners.  An effect of this proportional voting is that a relatively small number of Owners may determine the outcome of a vote.

Substitution. We reserve the right to substitute a different Fund or a different mutual fund for the one in which any Investment Division is currently invested, or transfer money to the General Account.  We will not do this without any required approval of the SEC.  We will give you notice of any substitution.


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

Mortality and Expense Risk Charge. Each day, as part of our calculation of the value of the Accumulation Units and Annuity Units, we make a deduction for the Mortality and Expense Risk Charge.  On an annual basis, this charge equals 1.10% of the average daily net asset value of your allocations to the Investment Divisions.  This charge does not apply to the Fixed Account or the GMWB Fixed Account.

This charge compensates us for the risks we assume in connection with all the Contracts, not just your Contract.  Our mortality risks under the Contracts arise from our obligations:
 
●
to make income payments for the life of the Annuitant during the income phase;
 
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●
to waive the withdrawal charge in the event of the Owner’s death; and
 
●
to provide a basic death benefit prior to the Income Date.

Our expense risks under the Contracts include the risk that our actual cost of administering the Contracts and the Investment Divisions may exceed the amount that we receive from the administration charge and the annual contract maintenance charge.  Included among these expense risks are those that we assume in connection with waivers of withdrawal charges under the Terminal Illness Benefit, the Specified Conditions Benefit and the Extended Care Benefit.

If your Contract Value were ever to become insufficient to pay this charge, your Contract would terminate without value.

Annual Contract Maintenance Charge. During the accumulation phase, we deduct a $35 annual contract maintenance charge on the Contract Anniversary of the Issue Date.  We will also deduct the annual contract maintenance charge if you make a total withdrawal.  This charge is for administrative expenses.  The annual contract maintenance charge will be assessed on the Contract Anniversary or upon full withdrawal and generally is taken from the Investment Divisions, the Fixed Account and the GMWB Fixed Account based on the proportion their respective value bears to the Contract Value.  We will not deduct this charge if, when the deduction is to be made, the value of your Contract is $50,000 or more.

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

This charge is waived if the Contract Value on the later of the Issue Date or the most recent Contract Quarterly Anniversary is greater than or equal to $1 million.  If your Contract Value subsequently drops below $1 million on the most recent Contract Quarterly Anniversary, the Administration Charge will be reinstated.

Transfer Charge. You must pay $25 for each transfer in excess of 15 in a Contract Year.  For this purpose, all transfers that are processed on the same Business Day will be considered as one transfer. This charge is deducted from the amount that is transferred prior to the allocation to a different Investment Division or the Fixed Account, as applicable.  We waive the transfer charge in connection with Dollar Cost Averaging, Earnings Sweep, Rebalancing transfers and any transfers we require, and we may charge a lesser fee where required by state law.

Withdrawal Charge. At any time during the accumulation phase (if and to the extent that Contract Value is sufficient to pay any remaining withdrawal charges that remain after a withdrawal), you may withdraw the following with no withdrawal charge:
 
●
Premiums that are no longer subject to a withdrawal charge (Premiums in your annuity for at least seven (five for the Five-Year Withdrawal Charge Period option) years without being withdrawn), plus
 
●
earnings (excess of your Contract Value allocated to the Investment Divisions, the Fixed Account and the GMWB Fixed Account over your Remaining Premiums allocated to those accounts)
 
●
during each Contract Year 10% (20% if you have elected the 20% Additional Free Withdrawal endorsement) of Premium (subject to certain exclusions) that would otherwise incur a withdrawal charge, be subject to a Contract Enhancement recapture charge, or be reduced by an Excess Interest Adjustment, and that has not been previously withdrawn (this can be withdrawn at once or in segments throughout the Contract Year), minus earnings (required minimum distributions will be counted as part of the free withdrawal amount).
 
We will deduct a withdrawal charge on:
 
●
withdrawals in excess of the free withdrawal amount (the withdrawal charge is imposed only on the excess amount above the free withdrawal amount), or
 
●
withdrawals under a tax-qualified Contract that exceed its required minimum distribution (the entire withdrawal will be subject to the withdrawal charge), or
 
●
withdrawals in excess of the free withdrawal amounts to meet the required
 
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minimum distribution of a tax-qualified Contract purchased with contributions from a nontaxable transfer, after the Owner’s death, of an Individual Retirement Annuity (IRA), or to meet the required minimum distribution of a Roth IRA annuity (the withdrawal charge is imposed only on the excess amount above the free withdrawal amount), or
 
●
amounts withdrawn in a total withdrawal, or
 
●
amounts applied to income payments on an Income Date that is within one year of the Issue Date.

The amount of the withdrawal charge deducted varies (depending upon whether you have elected the Five-Year Withdrawal Charge Period option and how many years prior to the withdrawal you made the Premium payment(s) you are withdrawing) according to the following schedule (state variations may apply):

Withdrawal Charge (as a percentage of Premium payments):

Completed Years since Receipt of Premium
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
                 
Base Schedule
8.5%
7.5%
6.5%
5.5%
5%
4%
2%
0
                 
Withdrawal Charge if Five-Year Period Applies
8%
7%
6%
4%
2%
0
0
0

For purposes of the withdrawal charge, we treat withdrawals as coming first from earnings and then from the oldest Remaining  Premium.  If you make a full withdrawal, or elect to commence income payments within one year of the date your Contract was issued, the withdrawal charge is based on Premiums remaining in the Contract and no free withdrawal amount applies.  If you withdraw only part of the value of your Contract, we deduct the withdrawal charge from the remaining value in your Contract.  The withdrawal charge compensates us for costs associated with selling the Contracts.

Note:  Withdrawals under a non-qualified Contract will be taxable on an “income first” basis.  This means that any withdrawal from a non-qualified Contract that does not exceed the accumulated income under the Contract will be taxable in full.  Any withdrawals under a tax-qualified Contract will be taxable except to the extent that they are allocable to an investment in the Contract (any after-tax contributions).  In most cases, there will be little or no investment in the Contract for a tax-qualified Contract because contributions will have been made on a pre-tax or tax-deductible basis.

We do not assess the withdrawal charge on any amounts paid out as:
 
●
income payments during your Contract’s income phase (but the withdrawal charge is deducted at the Income Date if income payments are commenced in the first Contract Year);
 
●
death benefits;
 
●
withdrawals necessary to satisfy the required minimum distribution of the Internal Revenue Code (but if the withdrawal requested exceeds the required minimum distribution; if the Contract was purchased with contributions from a nontaxable transfer, after the Owner’s death, of an Individual Retirement Annuity (IRA); or is a Roth IRA annuity, then the entire withdrawal will be subject to the withdrawal charge);
 
●
if permitted by your state, withdrawals of up to $250,000 from the Investment Divisions, the Fixed Account (subject to certain exclusions) and the GMWB Fixed Account if you incur a terminal illness or if you need extended hospital or nursing home care as provided in your Contract; or
 
●
if permitted by your state, withdrawals of up to 25% (12 1/2% for each of two joint Owners) of your Contract Value from the Investment Divisions, the Fixed Account (subject to certain exclusions) and the GMWB Fixed Account if you incur certain serious medical conditions specified in your Contract.
 
32
We may reduce or eliminate the amount of the withdrawal charge when the Contract is sold under circumstances that reduce our sales expense.  Some examples are the purchase of a Contract by a large group of individuals or an existing relationship between us and a prospective purchaser.  We may not deduct a withdrawal charge under a Contract issued to an officer, director, agent or employee of Jackson or any of our affiliates.

Earnings Protection Benefit (“EarningsMax”) Charge. If you select the Earnings Protection Benefit endorsement, you may pay us a charge that equals 0.30% (for a maximum of 0.45%) on an annual basis of the average daily net asset value of your allocations to the Investment Divisions.  The charge on currently offered Contracts may be less.  Please check with your representative to learn about the current level of the charge and its availability in your state.  This charge continues if you transfer ownership of the Contract to someone who would not have been eligible for the Earnings Protection Benefit upon application (75 years old or younger), even though the benefit is not payable.  If your spouse elects to continue the Contract under the Special Spousal Continuation Option (please see “Special Spousal Continuation Option”  on page 144), the charge will continue to be assessed unless your spouse elects to discontinue the Earnings Protection Benefit, at which time the charge will cease.  We stop deducting this charge on the date you annuitize.


PLEASE NOTE: EFFECTIVE OCTOBER 15, 2012, THESE ENDORSEMENTS ARE NOT CURRENTLY AVAILABLE TO ADD TO A CONTRACT.

If you select one of the Contract Enhancements, then for a period of seven Contract Years (five for the 2% Contract Enhancement) a charge will be imposed based upon the average daily net asset value of your allocations to the Investment Divisions.  These charges will also be assessed against any amounts allocated to the Fixed Account Options and the GMWB Fixed Account by reducing credited rates by the applicable charge percentage, but not below the minimum guaranteed interest rate (assuming no withdrawals).  (For more information about the Fixed Account Options and the GMWB Fixed Account, please see “THE FIXED ACCOUNT AND GMWB FIXED ACCOUNT” beginning on page 13.)  The amounts of these charges (or reductions in credited rates) depends upon which of the Contract Enhancements you select:

Contract Enhancement
2%
3%
4%
5%
         
Charge (on an annual basis)
0.395%
0.42%
0.56%
0.695%

Due to the Contract Enhancement charges listed above, it is possible that upon a total withdrawal, you will receive less money back than if you had not elected the Contract Enhancement.


PLEASE NOTE: EFFECTIVE OCTOBER 15, 2012, THESE ENDORSEMENTS ARE NOT CURRENTLY AVAILABLE TO ADD TO A CONTRACT.

If you select an optional Contract Enhancement and make a partial or total withdrawal from your Contract in the first seven Contract Years after a Premium is received (five Contract Years for the 2% Contract Enhancement), you will pay a Contract Enhancement recapture charge that reimburses us for all or part of the Contract Enhancements that we credited to your Contract based on your Premiums.  The recapture charge is applied to withdrawals when:
 
●
the Contract is returned during the free look period;
 
●
withdrawals are in excess of the free withdrawal amount (the recapture charge is imposed only on the excess amount above the free withdrawal amount);
 
●
withdrawals exceed the required minimum distribution of the Internal Revenue Code (the entire withdrawal will be assessed the applicable recapture charge);
 
●
there is a total withdrawal;
 
●
there is a total withdrawal due to annuitizing the Contract and the corresponding Income Date is within the recapture charge schedule (see Example 3 in Appendix B).

The percentage amount of the recapture charge depends upon (i) the corresponding declining amount of the Contract Enhancement based on the Contract Year when the Premium payment being withdrawn was received and (ii) when the charge is imposed based on the Completed Years since the receipt of the related Premium.  The percentage amounts of the recapture charges are as follows (please see the examples in Appendix B showing how these recapture charges are applied to withdrawals):
 
33
 

Contract Enhancement Recapture Charge (as a percentage of the corresponding Premium payment withdrawn if an optional Contract Enhancement is selected)
2% Contract Enhancement
 
Contract Year Premium is Received
Completed Years Since
Receipt of Premium
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
0-1
2%
2%
1.25%
1.25%
0.50%
0%
0%
0%
1-2
2%
1.25%
1.25%
0.50%
0%
0%
0%
0%
2-3
1.25%
1.25%
0.50%
0%
0%
0%
0%
0%
3-4
1.25%
0.50%
0%
0%
0%
0%
0%
0%
4-5
0.50%
0%
0%
0%
0%
0%
0%
0%
5-6
0%
0%
0%
0%
0%
0%
0%
0%
6-7
0%
0%
0%
0%
0%
0%
0%
0%
7+
0%
0%
0%
0%
0%
0%
0%
0%
 
3% Contract Enhancement
 
Contract Year Premium is Received
Completed Years Since
Receipt of Premium
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
0-1
3%
3%
2%
2%
2%
1%
1%
0%
1-2
3%
2%
2%
2%
1%
1%
0%
0%
2-3
2%
2%
1.25%
1%
1%
0%
0%
0%
3-4
2%
2%
1%
1%
0%
0%
0%
0%
4-5
2%
1%
1%
0%
0%
0%
0%
0%
5-6
1%
1%
0%
0%
0%
0%
0%
0%
6-7
1%
0%
0%
0%
0%
0%
0%
0%
7+
0%
0%
0%
0%
0%
0%
0%
0%
 
4% Contract Enhancement
 
Contract Year Premium is Received
Completed Years Since
Receipt of Premium
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
0-1
4%
4%
2.50%
2.50%
2.50%
1.25%
1.25%
0%
1-2
4%
2.50%
2.50%
2.50%
1.25%
1.25%
0%
0%
2-3
2.50%
2.50%
2%
1.25%
1.25%
0%
0%
0%
3-4
2.50%
2.50%
1.25%
1.25%
0%
0%
0%
0%
4-5
2.50%
1.25%
1.25%
0%
0%
0%
0%
0%
5-6
1.25%
1.25%
0%
0%
0%
0%
0%
0%
6-7
1.25%
0%
0%
0%
0%
0%
0%
0%
7+
0%
0%
0%
0%
0%
0%
0%
0%
 
5% Contract Enhancement
 
Contract Year Premium is Received
Completed Years Since
Receipt of Premium
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
0-1
4.50%
3.75%
3.25%
2.75%
2%
1.25%
1%
0%
1-2
3.75%
3.25%
2.75%
2%
1.25%
1%
0%
0%
2-3
3.25%
2.75%
2%
1.25%
1%
0%
0%
0%
3-4
2.75%
2%
1.25%
1%
0%
0%
0%
0%
4-5
2%
1.25%
1%
0%
0%
0%
0%
0%
5-6
1.25%
1%
0%
0%
0%
0%
0%
0%
6-7
1%
0%
0%
0%
0%
0%
0%
0%
7+
0%
0%
0%
0%
0%
0%
0%
0%
 
If you return your Contract during the free look period, the entire amount of any Contract Enhancement will be recaptured. 

The recapture charge percentage will be applied to the corresponding Premium reflected in the amount withdrawn or to the corresponding Premium reflected in the amount applied to income payments.  (Please see the examples in Appendix B.)  The amount
 
34
 
recaptured will be taken from the Investment Divisions and the Fixed Account (and the GMWB Fixed Account, if applicable) in the proportion their respective values bear to the Contract Value.  The dollar amount recaptured from the corresponding Premium will never exceed the dollar amount of the Contract Enhancement added to the Contract with respect to that Premium payment.  Recapture charges will be applied upon electing to receive income payments if the corresponding Income Date is within the recapture charge schedule, even in a situation where the withdrawal charge is waived (see Example 3 in Appendix B).

We expect to make a profit on the recapture charge, and examples in Appendix B may assist you in understanding how the recapture charge works.  However, we do not assess the recapture charge on any amounts paid out as:
 
●
death benefits;
 
●
 
withdrawals taken under the additional free withdrawal provisions;
 
●
 
withdrawals necessary to satisfy the required minimum distribution of the Internal Revenue Code (but if the requested withdrawal exceeds the required minimum distribution, then the entire withdrawal will be assessed the applicable recapture charge);
 
●
 
if permitted by your state, additional withdrawals of up to $250,000 from the Separate Account, the Fixed Account Options (subject to certain exclusions) and the GMWB Fixed Account if you incur a terminal illness or if you need extended hospital or nursing home care as provided in your Contract; or
 
●
 
if permitted by your state, additional withdrawals of up to 25% (12 1/2% for each of two joint Owners) of your Contract Value from the Separate Account, the Fixed Account Options (subject to certain exclusions) and the GMWB Fixed Account if you incur certain serious medical conditions specified in your Contract.

PLEASE NOTE: EFFECTIVE APRIL 29, 2013, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GWB (see table below).    For more information about the GWB, please see “Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up” beginning on page 59.

Annual Charge
Maximum
Current
 
1.20%
(WA Only)
1.20%
0.60%
(WA Only)
0.60%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly

We deduct the charge from your allocations to the Investment Division s and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value . In Washington State, the monthly charges are deducted in the same manner , but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from Contract Value, it is based on the applicable percentage of the GWB.  Upon termination of the endorsement, the charge is prorated for the period since the last quarterly or monthly charge.

We reserve the right to prospectively change the charge: on new Contracts; if you elect this benefit after your Contract is issued (subject to availability); or upon election of a step-up – subject to the applicable maximum charge. The actual deduction of the charge will be reflected in your quarterly statement.  We stop deducting this charge on the earlier date that you annuitize the Contract, or your Contract Value is zero.  Please check with your representative to learn about the current level of the charge, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  In addition, please consult the representative to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of the GMWB and a step-up, the applicable GMWB charge will be reflected in your confirmation.  For more information about how the endorsement works, please see “Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up” beginning on page 59.  Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.
 
35
 
5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 5”) Charge. The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GWB (see table below).  For more information about the GWB, please see “5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 64.

Annual Charge
Maximum
Current
 
 
 
1.70%
(WA Only)
1.74%
 
 
0.85%
(WA Only)
0.87%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly

You pay the applicable percentage of the GWB each Contract Quarter.  For Contracts purchased in Washington State, you pay the applicable percentage of the GWB each Contract Month.  The actual deduction of the charge will be reflected in your quarterly statement.

We deduct the charge from your allocations to the Investment Division s and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value .  In Washington State, the monthly charges are deducted in the same manner , but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB.  Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last quarterly or monthly charge.

We reserve the right to prospectively change the charge: on new Contracts or if you select this benefit after your Contract is issued (subject to availability), subject to the maximum annual charge. We may also change the charge when there is a step-up on or after the second Contract Anniversary, again subject to the maximum annual charge.  In this case, if the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary or Contract Quarterly Anniversary. You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level.  While electing to discontinue the automatic step-ups will prevent an increase in the charge, discontinuing step-ups also means foregoing possible increases in your GWB and/or GAWA, so carefully consider this decision should we notify you of a charge increase.  You may subsequently elect to reinstate the step-up provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary or Contract Quarterly Anniversary following receipt of the request in Good Order within 30 calendar days prior to the Contract Anniversary or Contract Quarterly Anniversary.

We stop deducting this charge on the earlier of the date that the GMWB is terminated or your Contract Value is zero.  Please check with your representative to learn about the current level of the charge, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  In addition, please consult the representative to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of the GMWB and a step-up, the applicable GMWB charge will be reflected in your confirmation.  For more information about how the endorsement works, please see “5% Guaranteed Minimum Withdrawal Benefit with Annual Step-Up (AutoGuard 5)” beginning on page 64.  Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.


PLEASE NOTE: EFFECTIVE APRIL 29, 2013, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GWB (see table below). For more information about the GWB, please see “6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up” beginning on page 67.

Annual Charge
Maximum
Current
 
 
 
2.00%
(WA Only)
2.04%
 
 
1.00%
(WA Only)
1.02%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly

You pay the applicable percentage of the GWB each Contract Quarter.  For Contracts purchased in Washington State, you pay the applicable percentage of the GWB each Contract Month.  The actual deduction of the charge will be reflected in your quarterly statement.
 
36
 
We deduct the charge from your allocations to the Investment Division s and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value .  In Washington State, the monthly charges are deducted in the same manner , but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB.  Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last quarterly or monthly charge.

We reserve the right to prospectively change the charge: on new Contracts or if you select this benefit after your Contract is issued (subject to availability), subject to the maximum annual charge.  We may also change the charge when there is a step-up on or after the second Contract Anniversary, again subject to the maximum annual charge.  In this case, if the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary or Contract Quarterly Anniversary.  You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level.  While electing to discontinue the automatic step-ups will prevent an increase in the charge, discontinuing step-ups also means foregoing possible increases in your GWB and/or GAWA, so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary or Contract Quarterly Anniversary following receipt of the request in Good Order within 30 calendar days prior to the Contract Anniversary or Contract Quarterly Anniversary.

We stop deducting this charge on the earlier of the date that the GMWB is terminated, or your Contract Value is zero.  Please check with your representative to learn about the current level of the charge, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  In addition, please consult the representative to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of the GMWB and a step-up, the applicable GMWB charge will be reflected in your confirmation.  For more information about how the endorsement works, please see “6% Guaranteed Minimum Withdrawal Benefit with Annual Step-Up (AutoGuard 6)” beginning on page 67.  Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.


PLEASE NOTE: EFFECTIVE APRIL 29, 2013, THIS ENDORSEMENT IS NO LONGER AVAILABLE TO ADD TO A CONTRACT.

The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GWB (see table below).  For more information about the GWB, please see “For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up and Transfer of Assets (Jackson Select Protector GMWB)” beginning on page 70.
 
Annual Charge
Maximum
Current
 
2.30%
(WA Only)
2.34%
1.15%
(WA Only)
1.17%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
 Quarterly Monthly

You pay the applicable annual percentage of the GWB each Contract Quarter.  For Contracts purchased in Washington State, you pay the charge each Contract Month, which charge is waived at the end of a Contract Month to the extent it exceeds the amount of your Contract Value allocated to the Investment Divisions.  We deduct the charge from your Contract Value.  The deduction of the charge could cause an automatic transfer under this GMWB’s Transfer of Assets provision.  For more information, please see “Transfer of Assets” under “For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up and Transfer of Assets” beginning on page 76.

Quarterly charges are deducted from your allocations to the Investment Division s , the Fixed Account Options and the GMWB Fixed Account in the same proportions that the respective allocations bear to your Contract Value .  In Washington State, the monthly charges are deducted in the same manner , but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from the Contract Value, it is based on the applicable percentage of the GWB.  Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last quarterly or monthly charge.
 
We reserve the right to prospectively change the charge on new Contracts or if you select this benefit after your Contract is issued (subject to availability), subject to the applicable maximum annual charge.  We may also change the charge when there is a step-up on or after the second Contract Anniversary, again subject to the applicable maximum annual charge.  If the GMWB charge is
 
37
 
to increase, a notice will be sent to you 45 days prior to the Contract Anniversary.  You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level.  Such election must be received in Good Order prior to the Contract Anniversary.  While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order within 30 calendar days prior to the Contract Anniversary.
 
The actual deduction of the charge will be reflected in your quarterly statement.  You will continue to pay the charge for the endorsement through the earlier of the date that you annuitize the Contract or your Contract Value is zero.  Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate.  For more information, please see “Termination” under “For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up and Transfer of Assets” beginning on page 79.  Please check with your representative to learn about the current level of the charge and the current interest rate for the GMWB Fixed Account, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  In addition, please consult the representative to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of the GMWB and upon automatic step-up on or after the second Contract Anniversary, the applicable GMWB charge will be reflected in your confirmation.  For more information about how the endorsement works, please see “For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up and Transfer of Assets” beginning on page 70.  Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount (“LifeGuard Freedom 6 Net”) Charge. The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GWB.  The percentage varies depending on which GAWA% table you elect (see table below).  For more information about the GWB and the different GAWA% tables, please see “For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount” beginning on page 80.

GMWBS ISSUED ON OR AFTER SEPTEMBER 15, 2014 *

Annual Charge
Maximum
Current
With Income Stream
Level 1 GAWA% Table
1.70%
(MO and
WA Only)
1.74%
0.85%
(MO and
WA Only)
0.87%
With Income Stream
 Level 2 GAWA% Table
1.90%
1.92%
0.95%
0.96%
With Income Stream
Level 3 GAWA% Table
2.10%
2.10%
1.05%
1.05%
With Income Stream
Level 4 GAWA% Table
2.50%
2.52%
1.25%
1.26%
With Income Stream
Level 5 GAWA% Table
3.00%
3.00%
1.50%
1.50%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly

*PLEASE NOTE: For GMWBs issued before September 15, 2014, please see Appendix F for the applicable charges (including charges for the
Optional Income Upgrade).
 
You pay the applicable annual percentage of the GWB each Contract Quarter.  For Contracts purchased in Missouri (for endorsements issued on or after September 16, 2013) and Washington State, you pay the charge each Contract Month, which charge is waived at the end of a Contract Month to the extent it exceeds the amount of your Contract Value allocated to the Investment Divisions.

We deduct the charge from your Contract Value.  Quarterly charges are deducted from your allocations to the Investment Divisions and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value.  In Missouri (for endorsements issued on or after September 16, 2013) and Washington State, the monthly charges are deducted in the same manner, but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from Contract Value, it is based on the applicable percentage of the GWB.  Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last quarterly or monthly charge.

We reserve the right to prospectively change the charge on new Contracts or if you select this benefit after your Contract is issued (subject to availability), subject to the applicable maximum annual charge (please see Appendix F for the maximum annual charges
 
38
 
for GMWBs issued before September 15, 2014) .  We may also change the charge when there is a step-up on or after the second Contract Anniversary, again subject to the maximum annual charge.  If the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary.  You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level.  Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus.  While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero.  Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate.  For more information, please see “Termination” under “For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount” beginning on page 89.  Please check with your representative to learn about the current level of the charge, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  In addition, please consult the representative to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of the GMWB and a step-up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount” beginning on page 80.  Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount (“LifeGuard Freedom 6 Net With Joint Option”) Charge. The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GWB.  The percentage varies depending on which GAWA% table you elect (see table below).  For more information about the GWB and the different GAWA% tables, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount” beginning on page 92.

GMWBS ISSUED ON OR AFTER SEPTEMBER 15, 2014 *

Annual Charge
Maximum
Current
With Income Stream
Level 1 GAWA% Table
2.30%
(MO and
WA Only)
 2.34%
1.15%
(MO and
WA Only)
 1.17%
With Income Stream
 Level 2 GAWA% Table
2.70%
2.70%
1.35%
1.35%
With Income Stream
Level 3 GAWA% Table
3.00%
3.00%
1.60%
1.62%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly

*PLEASE NOTE: For GMWBs issued before September 15, 2014, please see Appendix F for the applicable charges (including charges for the
Optional Income Upgrade).
 
You pay the applicable annual percentage of the GWB each Contract Quarter.  For Contracts purchased in Missouri (for endorsements issued on or after September 16, 2013) and Washington State, you pay the charge each Contract Month, which charge is waived at the end of a Contract Month to the extent it exceeds the amount of your Contract Value allocated to the Investment Divisions.

We deduct the charge from your Contract Value.  Quarterly charges are deducted from your allocations to the Investment Division s and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value .  In Missouri (for endorsements issued on or after September 16, 2013) and Washington State, the monthly charges are deducted in the same manner , but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from Contract Value, it is based on the applicable percentage of the GWB.  Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last quarterly or monthly charge.
 
39
 
We reserve the right to prospectively change the charge on new Contracts or if you select this benefit after your Contract is issued (subject to availability), subject to the applicable maximum annual charge (please see Appendix F for the maximum annual charges for GMWBs issued before September 15, 2014) .  We may also change the charge when there is a step-up on or after the second Contract Anniversary, again subject to the maximum annual charge.  If the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary.  You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level.  Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus.  While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero.  Also, we will stop deducting the charge under the other circumstances that would cause the endorsement to terminate.  For more information, please see “Termination” under “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount” beginning on page 102.  Please check with your representative to learn about the current level of the charge, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  In addition, please consult the representative to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of the GMWB and a step-up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount” beginning on page 92.  Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Step-Up (“LifeGuard Freedom Flex GMWB”) Charge.  The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GWB.  The percentage varies depending on which GAWA% table you elect (see tables below).  For more information about the GWB and the different GAWA% tables, please see “LifeGuard Freedom Flex GMWB” beginning on page 106.

GMWBS ISSUED ON OR AFTER SEPTEMBER 15, 2014 *

LifeGuard Freedom Flex GMWB With Income Stream Level 1 GAWA% Table
Options
Maximum Annual Charge
Current Annual Charge
5% Bonus and Annual Step-Up
1.20%
(MO and
WA Only)
1.20%
0.60%
(MO and
WA Only)
0.60%
6% Bonus and Annual Step-Up
1.40%
1.44%
0.70%
0.72%
7% Bonus and Annual Step-Up
1.70%
1.74%
0.85%
0.87%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
 
LifeGuard Freedom Flex GMWB With Income Stream Level 2 GAWA% Table
Options
Maximum Annual Charge
Current Annual Charge
5% Bonus and Annual Step-Up
1.40%
(MO and
WA Only)
1.44%
0.70%
(MO and
WA Only)
0.72%
6% Bonus and Annual Step-Up
1.60%
1.62%
0.80%
0.81%
7% Bonus and Annual Step-Up
1.90%
1.92%
0.95%
0.96%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
 
LifeGuard Freedom Flex GMWB With Income Stream Level 3 GAWA% Table
Options
Maximum Annual Charge
Current Annual Charge
 
 
5% Bonus and Annual Step-Up
 
 
1.60%
(MO and
WA Only)
1.62%
 
 
0.80%
(MO and
WA Only)
0.81%
6% Bonus and Annual Step-Up
1.80%
1.80%
0.90%
0.90%
7% Bonus and Annual Step-Up
2.10%
2.10%
1.05%
1.05%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
40
 
LifeGuard Freedom Flex GMWB With Income Stream Level 4 GAWA% Table
Options
Maximum Annual Charge
Current Annual Charge
5% Bonus and Annual Step-Up
2.00%
(MO and
WA Only)
2.04%
1.00%
(MO and
WA Only)
1.02%
6% Bonus and Annual Step-Up
2.20%
2.22%
1.10%
1.11%
7% Bonus and Annual Step-Up
2.50%
2.52%
1.25%
1.26%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
 
LifeGuard Freedom Flex GMWB With Income Stream Level 5 GAWA% Table
Options
Maximum Annual Charge
Current Annual Charge
5% Bonus and Annual Step-Up
2.50%
(MO and
WA Only)
2.52%
1.25%
(MO and
WA Only)
1.26%
6% Bonus and Annual Step-Up
2.70%
2.70%
1.35%
1.35%
7% Bonus and Annual Step-Up
3.00%
3.00%
1.50%
1.50%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly

*PLEASE NOTE: For GMWBs issued before September 15, 2014, please see Appendix F for the applicable charges (including charges for the
Optional Income Upgrade).

You pay the applicable annual percentage of the GWB each Contract Quarter.  For Contracts purchased in Missouri (for endorsements issued on or after September 16, 2013) and Washington State, you pay the charge each Contract Month, which charge is waived at the end of a Contract Month to the extent it exceeds the amount of your Contract Value allocated to the Investment Divisions.

We deduct the charge from your Contract Value.  Quarterly charges are deducted from your allocations to the Investment Divisions and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value.  In Missouri (for endorsements issued on or after September 16, 2013) and Washington State, the monthly charges are deducted in the same manner, but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from Contract Value, it is based on the applicable percentage of the GWB.  Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last quarterly or monthly charge.

We reserve the right to prospectively change the charge on new Contracts, or if you select this benefit after your Contract is issued (subject to availability), subject to the applicable maximum annual charge (please see Appendix F for the maximum annual charges for GMWBs issued before September 15, 2014) .  We may also change the charge when there is a step-up on or after the second Contract Anniversary, again subject to the maximum annual charge.  If the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary.  You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level.  Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus.  While electing to discontinue the automatic step-ups will prevent an increase in the charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero.  We will, however, stop deducting the charge under the other circumstances that would cause the endorsement to terminate.  For more information, please see “Termination” under “LifeGuard Freedom Flex GMWB” beginning on page 115.  Please check with your representative to learn about the current level of the charge, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  In addition, please consult the representative to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of the GMWB and a step-up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “LifeGuard Freedom Flex GMWB” beginning on page 106.  Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.
 
41
 
Note: The above section describes the charge for the LifeGuard Freedom Flex GMWB only.  If you purchase the LifeGuard Freedom Flex DB, additional charges apply for that benefit.  Please see “LifeGuard Freedom Flex DB” under “Contract Charges”, in the part entitled “Death Benefit Charges”, beginning on page 44 for details.

Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Step-Up (“LifeGuard Freedom Flex With Joint Option GMWB”) Charge.  The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GWB.  The percentage varies depending on which GAWA% table you elect (see tables below).  For more information about the GWB and the different GAWA% tables, please see “LifeGuard Freedom Flex With Joint Option GMWB” beginning on page 117.

GMWBS ISSUED ON OR AFTER SEPTEMBER 15, 2014 *

LifeGuard Freedom Flex With Joint Option GMWB With Income Stream
Level 1 GAWA% Table
Options
Maximum Annual Charge
Current Annual Charge
5% Bonus and Annual Step-Up
1.80%
(MO and
WA Only)
1.80%
0.90%
(MO and
WA Only)
0.90%
6% Bonus and Annual Step-Up
2.00%
2.04%
1.00%
1.02%
7% Bonus and Annual Step-Up
2.30%
2.34%
1.15%
1.17%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
 
LifeGuard Freedom Flex With Joint Option GMWB With Income Stream
Level 2 GAWA% Table
Options
Maximum Annual Charge
Current Annual Charge
5% Bonus and Annual Step-Up
2.20%
(MO and
WA Only)
2.22%
1.10%
(MO and
WA Only)
1.11%
6% Bonus and Annual Step-Up
2.40%
2.40%
1.20%
1.20%
7% Bonus and Annual Step-Up
2.70%
2.70%
1.35%
1.35%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly
 
 
LifeGuard Freedom Flex With Joint Option GMWB With Income Stream
Level 3 GAWA% Table
Options
Maximum Annual Charge
Current Annual Charge
 
 
5% Bonus and Annual Step-Up
 
 
2.70%
(MO and
WA Only)
2.70%
 
 
1.35%
(MO and
WA Only)
1.35%
6% Bonus and Annual Step-Up
2.90%
2.94%
1.45%
1.47%
7% Bonus and Annual Step-Up
3.00%
3.00%
1.60%
1.62%
Charge Basis
GWB
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly

*PLEASE NOTE: For GMWBs issued before September 15, 2014, please see Appendix F for the applicable charges (including charges for the
Optional Income Upgrade).
 
You pay the applicable annual percentage of the GWB each Contract Quarter.  For Contracts purchased in Missouri (for endorsements issued on or after September 16, 2013) and Washington State, you pay the charge each Contract Month, which charge is waived at the end of a Contract Month to the extent it exceeds the amount of your Contract Value allocated to the Investment Divisions.

We deduct the charge from your Contract Value.  Quarterly charges are deducted from your allocations to the Investment Division s and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value .  In Missouri (for endorsements issued on or after September 16, 2013) and Washington State, the monthly charges are deducted in the same manner , but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from Contract Value, it is based on the applicable percentage of the GWB.  Upon termination of the endorsement, including upon conversion (if conversion is permitted), the charge is prorated for the period since the last quarterly or monthly charge.
 
42
 
We reserve the right to prospectively change the charge on new Contracts, or if you select this benefit after your Contract is issued (subject to availability), subject to the applicable maximum annual charge (please see Appendix F for the maximum annual charges for GMWBs issued before September 15, 2014) .  We may also change the charge when there is a step-up on or after the second Contract Anniversary, again subject to the maximum annual charge.  If the GMWB charge is to increase, a notice will be sent to you 45 days prior to the Contract Anniversary.  You may then elect to discontinue the automatic step-up provision and the GMWB charge will not increase but remain at its then current level.  Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus.  While electing to discontinue the automatic step-ups will prevent an increase in the charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The actual deduction of the charge will be reflected in your quarterly statement. You will continue to pay the charge for the endorsement through the earlier date that you annuitize the Contract or your Contract Value is zero.  We will, however, stop deducting the charge under the other circumstances that would cause the endorsement to terminate.  For more information, please see “Termination” under “LifeGuard Freedom Flex With Joint Option GMWB” beginning on page 126.  Please check with your representative to learn about the current level of the charge, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  In addition, please consult the representative to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of the GMWB and a step-up, the applicable GMWB charge will be reflected in your confirmation. For more information about how the endorsement works, please see “LifeGuard Freedom Flex With Joint Option GMWB” beginning on page 117.  Also see “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

Guaranteed Minimum Withdrawal Benefit For Stretch RMDs (“MarketGuard Stretch GMWB”) Charge. The charge for this GMWB begins when the endorsement is added to the Contract and is expressed as an annual percentage of the GMWB Charge Base (see table below).

Annual Charge
Maximum
Current
 
2.20%
(WA Only)
2.22%
1.10%
(WA Only)
1.11%
Charge Basis
GMWB Charge Base
Charge Frequency
Quarterly
Monthly
Quarterly
Monthly

GMWB Charge Base.  At election, the GMWB Charge Base is equal to the Guaranteed Withdrawal Balance (“GWB”).  After each subsequent purchase payment, the GMWB Charge Base is increased by the amount of the purchase payment net of any applicable Premium taxes, subject to a maximum of $5,000,000.  The GMWB Charge Base is not reduced for withdrawals unless a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or Stretch RMD, as applicable. In this case, the GMWB Charge Base is reduced for the Excess Withdrawal amount in the same proportion as the Contract Value is reduced by the Excess Withdrawal. The Excess Withdrawal is defined to be the lesser of:

●
The total amount of the current partial withdrawal, Or
 
●
The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the Stretch RMD, as applicable.

For more information about the GAWA and Stretch RMD, please see “Guaranteed Minimum Withdrawal Benefit For Stretch RMDs (“MarketGuard Stretch GMWB”) beginning on page 129.

We deduct the charge from your allocations to the Investment Division s and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value . In Washington State, the monthly charges are deducted in the same manner , but deducted over the applicable Investment Divisions only.  With the Investment Divisions, we deduct the charge by canceling Accumulation Units rather than as part of the calculation to determine Accumulation Unit Value.  While the charge is deducted from Contract Value, it is based on the applicable percentage of the GMWB Charge Base.  Upon termination of the endorsement, the charge is prorated for the period since the last quarterly or monthly charge.

We reserve the right to prospectively change the charge on new Contracts, or elections after issue (subject to availability) subject to the applicable maximum charge. The actual deduction of the charge will be reflected in your quarterly statement.  We stop deducting this charge on the earlier of the date the endorsement terminates, or the date your Contract Value is zero.  Please check with your representative to learn about the current level of the charge, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus.  For more information about how the endorsement works, please see “Guaranteed Minimum Withdrawal Benefit For Stretch RMDs (‘MarketGuard Stretch GMWB’)” beginning on page 129.  Also see
 
43
 
“Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional important information to consider when purchasing a Guaranteed Minimum Withdrawal Benefit.

Death Benefit Charges. There is no additional charge for the Contract’s basic death benefit.  However, for an additional charge, you may select one of the Contract’s available optional death benefits in place of the basic death benefit.  Please ask your agent whether there are variations on these benefits in your state or contact our Annuity Service Center.  Our contact information is on the cover page of this prospectus.

If you select the 5% Roll-up Death Benefit, you will pay 0. 8 0% of the GMDB Benefit Base for this benefit annually (0.20% each Contract Quarter), subject to a maximum annual charge of 1.20% (0.30% quarterly) on new issues.  We deduct the charge from your Contract Value.  The charge is deducted from the allocations to the Investment Divisions and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value.  The charge is deducted from the Investment Divisions by the redemption of Accumulation Units attributable to your Contract rather than as an asset based charge applied to the assets of all Contract Owners who elected the optional death benefit.  The charge is deducted from the Fixed Account by a dollar reduction in the Fixed Account Contract Value.  While the charge is deducted from Contract Value, it is calculated based on the applicable percentage of the GMDB Benefit Base.  Upon termination of the endorsement, the charge is prorated for the period since the last quarterly charge.  For more information about how the endorsement works, including this benefit’s GMDB Benefit Base, please see “5% Roll-up Death Benefit” under “Optional Death Benefits”, beginning on page 139.

If you select the Highest Quarterly Anniversary Value Death Benefit, you will pay 0. 30 % of the GMDB Benefit Base for this benefit annually (0.075% each Contract Quarter), subject to a maximum annual charge of 0.60% (0.15% quarterly) on new issues.  We deduct the charge from your Contract Value.  The charge is deducted from the allocations to the Investment Divisions and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value.  The charge is deducted from the Investment Divisions by the redemption of Accumulation Units attributable to your Contract rather than as an asset based charge applied to the assets of all Contract Owners who elected the optional death benefit.  The charge is deducted from the Fixed Account by a dollar reduction in the Fixed Account Contract Value.  While the charge is deducted from Contract Value, it is calculated based on the applicable percentage of the GMDB Benefit Base.  Upon termination of the endorsement, the charge is prorated for the period since the last quarterly charge.  For more information about how the endorsement works, including this benefit’s GMDB Benefit Base, please see “Highest Quarterly Anniversary Value Death Benefit” under “Optional Death Benefits”, beginning on page 140.

If you select the Combination 5% Roll-up and Highest Quarterly Anniversary Value Death Benefit, you will pay 0. 90 % of the GMDB Benefit Base for this benefit annually (0.225% each Contract Quarter), subject to a maximum annual charge of 1.40% (0.35% quarterly) on new issues.  We deduct the charge from your Contract Value.  The charge is deducted from the allocations to the Investment Divisions and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value.  The charge is deducted from the Investment Divisions by the redemption of Accumulation Units attributable to your Contract rather than as an asset based charge applied to the assets of all Contract Owners who elected the optional death benefit.  The charge is deducted from the Fixed Account by a dollar reduction in the Fixed Account Contract Value.  While the charge is deducted from Contract Value, it is calculated based on the applicable percentage of the GMDB Benefit Base.  Upon termination of the endorsement, the charge is prorated for the period since the last quarterly charge.  For more information about how the endorsement works, including this benefit’s GMDB Benefit Base, please see “Combination 5% Roll-up and Highest Quarterly Anniversary Value Death Benefit” under “Optional Death Benefits”, beginning on page 140.

If you select the LifeGuard Freedom Flex DB optional death benefit, which is only available in conjunction with the purchase of the LifeGuard Freedom Flex GMWB (with 6% Bonus and Annual Step-Up Options), you will pay two separate charges for the combined benefit.  For LifeGuard Freedom Flex DB, you will pay 0. 70 % of the GMWB Death Benefit annually (0.175% each Contract Quarter).  For Contracts purchased in Washington State, the current and maximum annual charge for LifeGuard Freedom Flex DB is 0.72% of the GMWB Death Benefit annually (0.06% each Contract Month).  The charge for LifeGuard Freedom Flex DB, which is based on a percentage of the GMWB Death Benefit, is separate from and in addition to the charge for the LifeGuard Freedom Flex GMWB.  The charge for the LifeGuard Freedom Flex GMWB without the Optional Income Upgrade, which is based on a percentage of the Guaranteed Withdrawal Balance (GWB) and paid each Contract Quarter, is 0.95% (for endorsements issued before April 29, 2013) annually.  For Contracts purchased in Washington State, the charge for LifeGuard Freedom Flex GMWB without the Optional Income Upgrade is 0.96% (for endorsements issued before April 29, 2013) of the GWB annually (0.08% each Contract Month (for endorsements issued before April 29, 2013)).  For more information about the GMWB Death Benefit, please see “LifeGuard Freedom Flex DB” under “Optional Death Benefits”, beginning on page 142.  For more information about the charges for LifeGuard
 
44
 
Freedom Flex GMWB (with and without the Optional Income Upgrade), please see page 40, and for benefit information, including the GWB, please see “LifeGuard Freedom Flex GMWB” beginning on page 106.

We deduct the charge from your Contract Value.  The charge is deducted from the allocations to the Investment Division s and the Fixed Account Options in the same proportions that the respective allocations bear to your Contract Value .  The charge is deducted from the Investment Divisions by the redemption of Accumulation Units attributable to your Contract rather than as an asset based charge applied to the assets of all Contract Owners who elected the optional death benefit.  The charge is deducted from the Fixed Account by a dollar reduction in the Fixed Account Contract Value.  While the charge is deducted from Contract Value, it is calculated based on the applicable percentage of the GMWB Death Benefit.  Upon termination of the endorsement, the charge is prorated for the period since the last quarterly charge.

Five-Year Withdrawal Charge Period. If you select the optional five-year withdrawal charge period feature, you will pay 0.30% on an annual basis of the average daily net asset value of your allocations to the Investment Divisions.  We stop deducting this charge on the date you annuitize.

20% Additional Free Withdrawal Charge. If you select the optional feature that permits you to withdraw up to 20% of Premiums (subject to certain exclusions) that are still subject to a withdrawal charge minus earnings during a Contract Year without a withdrawal charge, you will pay 0.30% on an annual basis of the average daily net asset value of your allocations to the Investment Divisions.  We stop deducting this charge on the date you annuitize.

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

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

Other Expenses. We pay the operating expenses of the Separate Account, including those not covered by the mortality and expense and administrative charges.  There are deductions from and expenses paid out of the assets of the Funds.  These expenses are described in the attached prospectuses for the JNL Series Trust , the JNL Variable Fund LLC , and the JNL Investors Series Trust .  For more information, please see the “ Total Annual Fund Operating Expenses” table beginning on page 8.

Premium Taxes.  Some states and other governmental entities charge Premium taxes or other similar taxes.  We pay these taxes and may make a deduction from your Contract Values for them.  Premium taxes generally range from 0% to 3.5% (the amount of state Premium tax, if any, will vary from state to state).

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


Jackson National Life Distributors LLC (“JNLD” or “Distributor”), located at 7601 Technology Way, Denver, Colorado 80237, serves as the distributor of the Contracts.  JNLD is a wholly owned subsidiary of Jackson National Life Insurance Company.  JNLD is registered as a broker-dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934 and is a member of the Financial Industry Regulatory Authority (“FINRA”).  JNLD is not a member of the Securities Investor Protection Corporation (“SIPC”).  For more information on broker-dealers and their registered representatives, you may use the FINRA BrokerCheck program via telephone (1-800-289-9999) or internet (www.finra.org).

The Contract is offered to customers of various financial institutions, brokerage firms and their affiliate insurance agencies. No financial institution, brokerage firm or insurance agency has any legal responsibility to pay amounts that are owed under the Contract. The obligations and guarantees under the Contract are the sole responsibility of Jackson.  The financial institution, brokerage firm or insurance agency is responsible for delivery of various related disclosure documents and the accuracy of their oral description and recommendation of the purchase of the Contract.
 
45
 
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 and/or Jackson may pay bonuses, overrides, and marketing allowances, in addition to the standard commissions.  These payments and/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 widely among broker-dealers depending on, among other things, products offered, 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.  They may provide us greater access to the registered representatives of the broker-dealers receiving such compensation or may otherwise influence the broker-dealer and/or registered representative to present the Contracts more favorably than other investment alternatives.  Such compensation is subject to applicable state insurance law and regulation and the FINRA rules of conduct.  While such compensation may be significant, it will not cause any additional direct charge by us to you.

The two primary forms of such compensation paid by JNLD and/or Jackson 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 generally 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 (for example, national, regional and top producer meetings), sponsorships and educational seminars.  Examples of such payments include, but are not limited to, reimbursements for representative training or “due diligence” meetings (including travel and lodging expenses), client events, speaker fees , business development and educational enhancement items, and other support services, including payments to third party vendors for such 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.  Subject to FINRA rules of conduct, we may also provide cash and/or non-cash compensation to registered representatives in the form of gifts, promotional items and occasional meals and entertainment.  Individual registered representatives may receive differing levels of sales and service support.  Some support services may benefit the prospective or current contract owner.

Below is an alphabetical listing of the 20 broker-dealers that received the largest amounts of overrides and/or marketing support payments in 201 4 from the Distributor and/or Jackson in relation to the sale of our variable insurance products:

 
Cetera Advisor Networks LLC
 
Commonwealth Financial Network
 
First Allied Securities Inc.
 
ING /Voya Financial Advisers Inc .
 
INVEST Financial Corporation
 
Lincoln Financial Advisors Corporation
 
LPL Financial Services
 
Merrill Lynch
 
Metlife Securities , Inc.
 
MML Investors Services , LLC
 
Morgan Stanley Smith Barney LLC
 
National Planning Corporation
 
Raymond James & Associates Inc.
 
Securities America , Inc.
 
Signator Investors, Inc .
 
SII Investments Inc.
 
Transamerica Financial Advisors Inc .
 
UBS Financial Services , Inc .
 
Wells Fargo Advisors LLC
 
Wood bury Financial Services, Inc.

Please see Appendix C for a complete list of broker-dealers that received amounts of overrides and/or marketing support payments in 201 4 from the Distributor and/or Jackson in relation to the sale of our variable insurance products.  While we endeavor to update this list on an annual basis, please note that interim changes or new arrangements may not be listed.   Such broker-dealers may receive substantial compensation on a forward going basis.
 
46
 
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.  Our affiliated broker-dealers may also sell the retail mutual funds of certain sub-advisers.  In addition, the Distributor acts as distributor of variable annuity contracts and variable life insurance policies (the “Other Contracts”) issued by Jackson 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 SmallCap Equity Fund, participates in the sale of Contracts and is compensated by JNLD and/or Jackson 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 Jackson or our affiliates, may be greater or less than the total compensation on similar or other products.  The amount and/or structure of the compensation can possibly create a potential conflict of interest as it 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.



●
$5,000 under most circumstances
 
●
$2,000 for a qualified plan Contract

●
$500 for a qualified or non-qualified plan
 
●
$50 for an automatic payment plan
 
●
You can pay additional Premiums at any time during the accumulation phase unless a specific optional benefit or feature provides limitations.

These minimums apply to purchases, but do not preclude subsequent partial withdrawals that would reduce Contract Values below the minimum initial purchase amounts, as long as the amount left in the account is sufficient to pay the withdrawal charge.  We reserve the right to limit the number of Contracts that you may purchase.  We also reserve the right to refuse any Premium payment.  There is a $100 minimum balance requirement for each Investment Division and Fixed Account.  We reserve the right to restrict availability or impose restrictions on the Fixed Account and the GMWB Fixed Account.


●
The maximum aggregate Premiums you may make without our prior approval is $1 million.

The payment of subsequent Premiums, depending on market conditions at the time they are made, may or may not contribute to the various benefits under your Contract, including the enhanced death benefits or any GMWB.  Our right to restrict Premiums to a lesser maximum amount may also affect the benefits under your Contract.
 
47
 
Allocations of Premium.  You may allocate your Premiums to one or more of the Investment Divisions and Fixed Account.  Each allocation must be a whole percentage between 0% and 100%.  The minimum amount you may allocate to the Investment Division or a Fixed Account is $100.  We will allocate any additional Premiums you pay in the same way unless you instruct us otherwise.

Y ou may not allocate your Contract Values among more than 99 Investment Divisions, Fixed Account Options and the GMWB Fixed Account at any one time.  Additionally, you may not choose to allocate your Premiums to the GMWB Fixed Account; however, Contract Value may be automatically allocated to the GMWB Fixed Account according to non-discretionary formulas if you have purchased the optional Jackson Select Protector GMWB.   For more detailed information regarding Jackson Select Protector GMWB, please see “For Life Guaranteed Minimum Withdrawal Benefit With Annual Step-Up and Transfer of Assets Endorsement” beginning on page 70.

We will issue your Contract and allocate your first Premium within two Business Days (days when the New York Stock Exchange is open) after we receive your first Premium and all information that we require for the purchase of a Contract.  If we do not receive all of the information that we require, we will contact you to get the necessary information.  If for some reason we are unable to complete this process within five Business Days, we will return your money. Each Business Day ends when the New York Stock Exchange closes (usually 4:00 p.m. Eastern time).


PLEASE NOTE:  EFFECTIVE OCTOBER 15, 2012, THESE ENDORSEMENTS ARE NOT CURRENTLY AVAILABLE TO ADD TO A CONTRACT.

You may elect one of our four optional Contract Enhancement endorsements.  The Contract Enhancement endorsements available are the 2% Contract Enhancement endorsement, 3% Contract Enhancement endorsement, 4% Contract Enhancement endorsement, or 5% Contract Enhancement endorsement.  Contract Enhancement endorsements are available only at the time you purchase your Contract and to Owners 87 years old and younger.  If elected, a Contract Enhancement endorsement cannot be canceled.  You may not elect the 3%, 4% or 5% Contract Enhancement endorsements with the 20% Additional Free Withdrawal endorsement.  In addition, if you elect any Contract Enhancement endorsement, you cannot select the Capital Protection Program.

If you elect a Contract Enhancement endorsement, the following Fixed Account restrictions currently apply during the first seven Contract Years (five Contract Years for the 2% Contract Enhancement). The three, five and seven year Fixed Account Options are not available and transfers to any Fixed Account Option are not permitted (including under the Dollar Cost Averaging program).  Premiums may be allocated to the one year Fixed Account Option.  However, any Premium allocated to the one year Fixed Account must be transferred out of the one year Fixed Account in a series of scheduled monthly transfers to your choice of Investment Divisions within either a 6 or 12 month period beginning on the date we received the Premium.  Therefore, at the end of the 6 or 12 month period, all amounts in the one year Fixed Account will have been transferred out of the one year Fixed Account.  (See “Fixed Account Options” on page 13.)  These restrictions may be modified, eliminated, or otherwise revised, at which time we will provide you with written notice of the changes.

If an optional Contract Enhancement endorsement is elected, then at the end of any Business Day in the first seven Contract Years (five Contract Years for the 2% Contract Enhancement) when we receive a Premium payment, we will credit your Contract Value with a Contract Enhancement.  The actual Contract Enhancement percentage applied to the Premium payment varies, depending upon which Contract Enhancement you have elected and the Contract Year in which you make your payment.  Therefore, the dollar amount of the actual Contract Enhancement credited to your Contract Value also varies, depending on the Contract Enhancement percentage applied and the amount of the Premium payment.  The Contract Enhancement percentage applied to a Premium payment is generally a declining and lesser percentage for Premium payments received after the first Contract Year (see the schedules below).

In addition, since total expenses for a Contract with a Contract Enhancement are higher than those for a Contract without a Contract Enhancement, it is possible that upon surrender you will receive less money back than you would have if you had not elected a Contract Enhancement.  This is discussed further on page 50.

2% Contract Enhancement endorsement
 
 
Contract Year Premium is Received
 
0-1
1-2
2-3
3-4
4-5
5+
Contract Enhancement Percentage of the Premium Payment
2.00%
2.00%
1.25%
1.25%
0.50%
0%
 
48
 
3% Contract Enhancement endorsement
 
 
Contract Year Premium is Received
 
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
Contract Enhancement Percentage of the Premium Payment
3.00%
3.00%
2.25%
2.00%
2.00%
1.00%
1.00%
0%

4% Contract Enhancement endorsement
 
 
Contract Year Premium is Received
 
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
Contract Enhancement Percentage of the Premium Payment
4.00%
4.00%
3.00%
2.50%
2.50%
1.25%
1.25%
0%

5% Contract Enhancement endorsement
 
 
Contract Year Premium is Received
 
0-1
1-2
2-3
3-4
4-5
5-6
6-7
7+
Contract Enhancement Percentage of the Premium Payment
5.00%
4.50%
3.75%
3.00%
2.25%
1.75%
1.00%
0%

There is a charge for the optional Contract Enhancement endorsements that is assessed against the Investment Divisions, the Fixed Account and the GMWB Fixed Account for the Contract Enhancements, and its amount depends upon which Contract Enhancement endorsement you elect.  For more information about the charges for these endorsements, please see “Contract Enhancement Charge” on page 33.

We will also impose a Contract Enhancement recapture charge if you:

●
make a total withdrawal within the recapture charge schedule or a partial withdrawal within the recapture charge schedule in excess of the free withdrawals permitted by your Contract (or an additional free withdrawal endorsement if elected) (the recapture charge is imposed only on the excess amount above the free withdrawal amount),
 
●
make a partial withdrawal within the recapture charge schedule in excess of the required minimum distribution of the Internal Revenue Code (the entire withdrawal will be assessed the applicable recapture charge),
 
●
elect to receive payment under an income option (see Example 3 in Appendix B) (for more information about these income options, see “INCOME PAYMENTS (THE INCOME PHASE)” beginning on page 135) within the recapture charge schedule, or
 
●
return your Contract during the Free Look period.  (If you return your Contract during the Free Look period, the entire amount of the Contract Enhancement will be recaptured.)
 
The Recapture Charge schedule(s) can be found beginning on page 33 of this prospectus.  The percentage amount of the recapture charge depends upon (i) the corresponding declining amount of the Contract Enhancement based on the Contract Year when the Premium payment being withdrawn was received and (ii) when the recapture charge is imposed based on the Completed Years since the receipt of the related Premium.  (See the examples in Appendix B showing how these recapture charges are applied to withdrawals.)

We will not impose the Contract Enhancement recapture charge on any amounts paid out as:

●
earnings (excess of your Contract Value allocated to the Investment Divisions, the Fixed Account and the GMWB Fixed Account over your Remaining Premiums allocated to those accounts);
 
●
death benefits;
 
●
withdrawals taken under the additional free withdrawal provisions;
 
 
49
 
●
withdrawals necessary to satisfy the required minimum distribution of the Internal Revenue Code (but if the requested withdrawal exceeds the required minimum distribution, then the entire withdrawal will be assessed the applicable recapture charge);
 
●
if permitted by your state, additional withdrawals of up to $250,000 from the Separate Account, the Fixed Account Options (subject to certain exclusions) and the GMWB Fixed Account if you incur a terminal illness or if you need extended hospital or nursing home care as provided in your Contract (see “Waiver of Withdrawal and Recapture Charges for Certain Emergencies” on page 56 for more information); or
 
●
if permitted by your state, additional withdrawals of up to 25% (12 1/2% for each of two joint Owners) of your Contract Value from the Separate Account, the Fixed Account Options (subject to certain exclusions) and the GMWB Fixed Account if you incur certain serious medical conditions specified in your Contract (see “Waiver of Withdrawal and Recapture Charges for Certain Emergencies” on page 56 for more information).
 
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.)  We expect to make a profit on these charges for the Contract Enhancements.  Examples in Appendix B may assist you in understanding how recapture charges for the Contract Enhancements work.  In certain situations, both a recapture charge and a withdrawal charge will be charged on your withdrawal amount (see examples 1 and 2 in Appendix B).

Your Contract Value will reflect any gains or losses attributable to a Contract Enhancement.  Contract Enhancements, and any increase in value attributable to a Contract Enhancement, distributed under your Contract will be considered earnings under the Contract for tax purposes.

As referenced above, there is a charge for the optional Contract Enhancement endorsements.  This Contract Enhancement charge is based on the average daily net asset value of your allocations to the Investment Divisions and is deducted from the total value of the Separate Account.  In addition, for the Fixed Account and the GMWB Fixed Account, the Contract Enhancement charge lowers the credited rate that would apply if the Contract Enhancement had not been elected.  Therefore, you will incur charges on the entire amounts included in your Contract, which includes Premium payments made in the first seven Contract Years (five for the 2% Contract Enhancement), the Contract Enhancement and the earnings, if any, on such amounts for the first seven Contract Years (five for the 2% Contract Enhancement).  As a result, the aggregate charges assessed will be higher than those that would be charged if you did not elect a Contract Enhancement.  Accordingly, it is possible that upon surrender, you will receive less money back than you would have if you had not elected a Contract Enhancement.  We will impose a Contract Enhancement recapture charge if you make withdrawals in the first seven Contract Years (five Contract Years for the 2% Contract Enhancement).  We expect to profit from certain charges assessed under the Contract, including the withdrawal charge, the mortality and expense risk charge and the Contract Enhancement charge.

Charges for the Contract Enhancement are not assessed after the seventh Contract Year (fifth for the 2% Contract Enhancement).  Accordingly, the increased Contract Value resulting from a Contract Enhancement is reduced during the first seven Contract Years (five for the 2% Contract Enhancement) by the operation of the Contract Enhancement charge.  If you make Premium payments only in the first Contract Year and do not make a withdrawal during the first seven years (five for the 2% Contract Enhancement), at the end of the seven-year period (five for the 2% Contract Enhancement) that the Contract Enhancement charge is applicable, the Contract Value will be equal to or slightly higher than if you had not selected a Contract Enhancement, regardless of investment performance.  Contract Values may also be higher if you pay additional Premium payments in the first Contract Year, because those additional amounts will be subject to the Contract Enhancement charge for less than seven full years (five for the 2% Contract Enhancement).

In the first seven Contract Years (five for the 2% Contract Enhancement), the Contract Enhancement typically will be beneficial (even in circumstances where cash surrender value may not be higher than Contracts without the Contract Enhancement) in the following circumstances:

●
death benefits computed on the basis of Contract Value;
 
●
withdrawals taken under the 10% free withdrawal provision (or the 20% Additional Free Withdrawal endorsement, if elected);
 
50
 
●
withdrawals necessary to satisfy the required minimum distribution of the Internal Revenue Code;
 
●
if permitted by your state, withdrawals under our:
 
 
○
Terminal Illness Benefit;
 
 
○
Specified Conditions Benefit; or
 
 
○
Extended Care Benefit.  (See page 56 below.)
 
You may not elect the 3%, 4% or 5% Contract Enhancement endorsements with the 20% Additional Free Withdrawal option.  In addition, you may not elect any Contract Enhancement endorsement with the Capital Protection Program.

Capital Protection Program.  If you select our Capital Protection Program at issue, we will allocate enough of your Premium to the Fixed Account you select to assure that the amount so allocated will equal, at the end of a selected period of 1, 3, 5, or 7 years, your total original Premium paid.  You may allocate the rest of your Premium to any Investment Division(s).  If any part of the Fixed Account value is surrendered or transferred before the end of the selected guaranteed period, the value at the end of that period will not equal the original Premium.  This program is available only if Fixed Account Options are available.  There is no charge for the Capital Protection Program.  You should consult your Jackson representative with respect to the current availability of Fixed Account Options, their limitations, and the availability of the Capital Protection Program.

Currently, the Capital Protection Program is not available if you elect a Contract Enhancement endorsement.

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

Alternatively, assume Jackson receives a Premium payment of $10,000 when the interest rate for the 7-year period is 6.75% per year.  Jackson will allocate $6,331 to that Guarantee Period because $6,331 will increase at that interest rate to $10,000 after 7 years.  The remaining $3,669 of the payment will be allocated to the Investment Division(s) you selected.

Thus, as these examples demonstrate, the shorter Guarantee Periods require allocation of substantially all your Premium to achieve the intended result.  In each case, the results will depend on the interest rate declared for the Guarantee Period.

The Capital Protection Program will not be available if you purchase the Jackson Select Protector GMWB.

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

Every Business Day, we determine the value of an Accumulation Unit for each of the Investment Divisions by:

●
determining the total amount of assets held in the particular Investment Division;
 
●
subtracting any asset-based charges and taxes chargeable under the Contract; and
 
●
dividing this amount by the number of outstanding Accumulation Units.
 
Charges deducted through the cancellation of units are not reflected in this computation.

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

When you make a Premium payment, we credit your Contract with Accumulation Units.  The number of Accumulation Units we credit is determined at the close of that Business Day by dividing the amount of the Premium allocated to any Investment Division by the value of the Accumulation Unit for that Investment Division that reflects the combination of optional endorsements you have elected and their respective charges.
 
51
 
In connection with arrangements we have to transact business electronically, we may have agreements in place whereby the time when certain broker-dealers receive your initial Purchase Payment and all required information in Good Order will be used for initial pricing of your Contract values.  However, if we do not have an agreement with a broker-dealer providing for these pricing procedures, initial Purchase Payments received by the broker-dealer will not be priced until they are received by us. As of the date of this prospectus, we have such an agreement with Morgan Stanley Smith Barney LLC and SBHU Life Agency.  Please check with your financial representative to determine if his/her broker-dealer has an agreement with the Company that provides for these pricing procedures.


You may transfer your Contract Value between and among the Investment Divisions at any time, unless transfers are subject to other limitations, but transfers between an Investment Division and the Fixed Account must occur prior to the Income Date.

You can make 15 transfers every Contract Year without charge.

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

Transfers from the Fixed Account generally will be subject to any applicable Excess Interest Adjustment.

Potential Limits and Conditions on Fixed Account Transfers. There may be periods when we do not offer any Fixed Account.  We can prohibit or impose limitations or other requirements on transfers to or from the Fixed Account as permitted by applicable law.  Currently, for Contracts with an optional Contract Enhancement, transfers are not permitted to a Fixed Account Option during the first seven Contract Years (five Contract Years for the 2% Contract Enhancement).  This restriction may be modified, eliminated, or otherwise revised, at which time we will provide you with written notice of the changes.

In addition, we also specifically reserve the right to impose the limitations and conditions set forth in 1-4 below with respect to the one-year Fixed Account Option.  Although we are not imposing these restrictions as of the date of this prospectus, if we do decide to impose them, they could provide as follows with respect to both new and already outstanding Contracts:

1.  During any Contract Year, the aggregate dollar amount of all transfers from the one-year Fixed Account Option (including transfers at the end of the one-year period) could not exceed whichever of the following three maximums apply to you for that year:
 
●
Maximum transfers during the first Contract Year in which you have Contract Value in the one-year Fixed Account Option subject to these restrictions: 1/3 of your Contract Value in the one-year Fixed Account Option as of the most recent Contract Anniversary;
●
Maximum transfers during any subsequent Contract Year, if you had Contract Value subject to these restrictions during the preceding Contract year:
   
i.
1/3 of your Contract Value in the one-year Fixed Account Option as of the most recent Contract Anniversary if you did not make a 1/3 transfer in the preceding year as mentioned above or
   
ii.
1/2 of your Contract Value in the one-year Fixed Account Option as of the most recent Contract Anniversary if you did make such a 1/3 transfer in the preceding year; or
●
Maximum transfers during any Contract Year, if you had Contract Value subject to these restrictions during both of the preceding two Contract Years and, in those years, you made the 1/3 maximum transfer in the first year and 1/2 maximum transfer in the second year as mentioned above: all of your remaining Contract Value in the one-year Fixed Account Option.
 
2.  We could require that any transfer from the one-year Fixed Account Option in a Contract Year occur at least twelve months after the most recent such transfer in the previous Contract Year.

3.  We could restrict or prohibit your transfers into or allocations of any additional Premiums to the one-year Fixed Account Option in any Contract Year in which you make a transfer from the one-year Fixed Account Option.

4.  We could restrict or prohibit your transfers from the one-year Fixed Account Option in any Contract Year in which you make a transfer into or allocate any additional Premiums to the one-year Fixed Account Option.

We may impose restrictions 1-4 separately or in combination but we expect that they would be imposed as a group, so that you would be subject to all of these restrictions if you are subject to any of them.
 
52
 
Certain systematic investment programs could be excluded from the restrictions listed in 1-4 above, such that transfers under those programs would not count against the maximum amounts that may be transferred out of the one-year Fixed Account Option and the Contract Value under such programs would be excluded from the computation of such maximum amounts.

We also could permit or require that a systematic transfer program be used to make transfers from any Fixed Account Options. For example, you could be permitted to have the three transfers that are referred to in restriction 1 above automated through a systematic transfer out (“STO”) on each of your next three Contract Anniversaries.  The amount automatically transferred on each of such three Contract Anniversaries would be the maximum amount that would be permitted to be transferred on that date under restriction 1, such that following the automatic STO transfer on the third such Contract Anniversary you would no longer have any Contract Value in the one-year Fixed Account Option.   If we establish such an STO for you, however, we would (pursuant to restrictions 3 and 4 above) prohibit you from making any other transfer from, or any Premium payments or transfers into, the one-year Fixed Account Option during any Contract Year in which an automatic STO transfer is made for you.  Also (pursuant to restriction 2 above) you could elect such an STO only if (i) at least twelve calendar months have passed since your last STO program (if any) had ended and (ii) during the Contract Year in which you make the election, you have not made any transfers from, or any Premium payments or transfers into the one-year Fixed Account Option (unless you made the transfer or Premium payment before the time we had instituted restrictions 1-4). Transfers pursuant to any STO would not count toward your 15 free transfer limit.

If we require you to commence an STO at a time when, due to any of the foregoing restrictions, you would not be eligible to elect such a program, the three annual STO transfers will be delayed.  In that case, the first such STO transfer would occur on the first Contract Anniversary after you are eligible to elect an STO.

If we impose the restrictions described in 1-4 above, we would provide you prompt written notice of that fact, as well as any requirement or option to commence an STO.  In that case, the restrictions would be effective immediately and we would not expect to provide you with an opportunity to make transfers from the one-year Fixed Account Option, other than in compliance with and subject to the limitations in such restrictions.  Accordingly, you should consider whether you are willing to be subject to those limitations before you allocate any Premiums or transfers to the one-year Fixed Account Option.

We also may restrict your participation in any systematic investment program if you allocate any amounts to a Fixed Account Option.

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

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

●
limiting the number of transfers over a period of time;
 
●
requiring a minimum time period between each transfer;
 
●
limiting transfer requests from an agent acting on behalf of one or more Owners or under a power of attorney on behalf of one or more Owners; or
 
●
limiting the dollar amount that you may transfer at any one time.
 
To the extent permitted by applicable law, we reserve the right to restrict the number of transfers per year that you can request and to restrict you from making transfers on consecutive Business Days.  In addition, your right to make transfers between and among Investment Divisions may be modified if we determine that the exercise by one or more Owners is, or would be, to the disadvantage of other Owners.

We continuously monitor transfers under the Contract for disruptive activity based on frequency, pattern and size.  We will more closely monitor Contracts with disruptive activity, placing them on a watch list, and if the disruptive activity continues, we will restrict the availability of electronic or telephonic means to make a transfer, instead requiring that transfer instructions be mailed through regular U.S. postal service, and/or terminate the ability to make transfers completely, as necessary.  If we terminate your ability to make transfers, you may need to make a partial withdrawal to access the Contract Value in the Investment Division(s) from which you sought a transfer.  We will notify you and your representative in writing within five days of placing the Contract on a watch list.
 
53
 
Regarding round trip transfers, we will allow redemptions from an Investment Division; however, once a complete or partial redemption has been made from an Investment Division through an Investment Division transfer, you will not be permitted to transfer any value back into that Investment Division within 15 calendar days of the redemption.  We will treat as short-term trading activity any transfer that is requested into an Investment Division that was previously redeemed within the previous 15 calendar days, whether the transfer was requested by you or a third party.

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

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


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

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

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

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

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

Our Procedures. Our procedures are designed to provide reasonable assurance that telephone or any other electronic authorizations are genuine.  Our procedures include requesting identifying information and tape-recording telephone communications and other specific details.  We and our affiliates disclaim all liability for any claim, loss or expense resulting from any alleged error or mistake in connection with a transaction requested by telephone or other electronic means that you did not authorize.  However, if we fail to employ reasonable procedures to ensure that all requested transactions are properly authorized, we may be held liable for such losses.

We do not guarantee access to telephonic and electronic information or that we will be able to accept transaction instructions via the telephone or electronic means at all times.  We also reserve the right to modify, limit, restrict, or discontinue at any time and without
 
54
 
notice the acceptance of instruction from someone other than you and/or this telephonic and electronic transaction privilege.  Elections of any optional benefit or program must be in writing and will be effective upon receipt of the request in Good Order.

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


You can have access to the money in your Contract:

●
by making either a partial or complete withdrawal,
 
●
by electing the Systematic Withdrawal Program,
 
●
by electing a Guaranteed Minimum Withdrawal Benefit, or
 
●
by electing to receive income payments.
 
Your Beneficiary can have access to the money in your Contract when a death benefit is paid.

Withdrawals under the Contract may be subject to a withdrawal charge.  For purposes of the withdrawal charge, we treat withdrawals as coming first from earnings and then from the oldest Remaining Premium.  When you make a complete withdrawal you will receive the value of your Contract as of the end of the Business Day your request is received by us in Good Order, minus any applicable taxes, the annual contract maintenance charge, charges due under any optional endorsement and all applicable withdrawal charges, adjusted for any applicable Excess Interest Adjustment.  For more information about withdrawal charges, please see “Withdrawal Charge” beginning on page 31. We will pay the withdrawal proceeds within seven days of a request in Good Order. If a Purchase Payment made by personal check or electronic draft is received within the five days preceding a withdrawal request, we may delay payment of the withdrawal proceeds up to seven days after the date of the request, to ensure the check or electronic draft is not returned due to insufficient funds.

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

Except in connection with the Systematic Withdrawal Program, you must withdraw at least $500 or, if less, the entire amount in the Fixed Account Option or Investment Division from which you are making the withdrawal.  If you are not specific in your withdrawal request, your withdrawal will be taken from your allocations to the Investment Divisions, Fixed Account Options and the GMWB Fixed Account based on the proportion their respective values bear to the Contract Value.  If you are specific in your withdrawal request, please know that for Contracts with a GMWB containing a Transfer of Assets provision, the percentage of the partial withdrawal taken from the GMWB Fixed Account cannot exceed the ratio of the GMWB Fixed Account value to the Contract Value.

With the Systematic Withdrawal Program, you may withdraw a specified dollar amount (of at least $50 per withdrawal) or a specified percentage.  After your withdrawal, at least $100 must remain in each Fixed Account Option or Investment Division from which the withdrawal was taken.  A withdrawal request that would reduce the remaining Contract Value to less than $100 will be treated as a request for a complete withdrawal.  If your Contract contains a GMWB containing a Transfer of Assets provision, any systematic withdrawal request for a specified dollar amount or specified percentage from a particular Investment Division, the Fixed Account or the GMWB Fixed Account will be limited in that such withdrawals cannot be made from the GMWB Fixed Account.  If you wish your systematic withdrawal to include amounts allocated to GMWB Fixed Account, your systematic withdrawal must be taken proportionally from all of the allocations (to the Investment Divisions, the GMWB Fixed Account and the Fixed Account) based on their respective values in relation to the Contract Value.

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

Income taxes, tax penalties and certain restrictions may apply to any withdrawal you make.  There are limitations on withdrawals from qualified plans.  For more information, please see “TAXES” beginning on page 145.
 
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Waiver of Withdrawal and Recapture Charges for Certain Emergencies. We will waive the withdrawal charge (withdrawals from the Investment Divisions, the Fixed Account and the GMWB Fixed Account), but not any Excess Interest Adjustment that would otherwise apply in certain circumstances by providing you, at no charge, the following:

●
Terminal Illness Benefit, under which we will waive any withdrawal charges and recapture charges on amounts of up to $250,000 of your Contract Value from the Investment Divisions, Fixed Account (subject to certain exclusions) and the GMWB Fixed Account that you withdraw after providing us with a physician’s statement that you have been diagnosed with an illness after the Contract’s issue date that will result in your death within 12 months;
 
●
Specified Conditions Benefit, under which you may make a one-time withdrawal of up to 25% (for joint Owners, this benefit applies to each of them for 12 1/2%) of your Contract Value from the Investment Divisions, Fixed Account (subject to certain exclusions) and the GMWB Fixed Account with no withdrawal charge or recapture charge after having provided us with a physician’s statement that you have been diagnosed with one of the following conditions after the Contract’s issue date:
 
 
○
Heart attack
 
 
○
Stroke
 
 
○
Coronary artery surgery
 
 
○
Life-threatening cancer
 
 
○
Renal failure or
 
 
○
Alzheimer’s disease; and
 
●
Extended Care Benefit, under which we will waive any withdrawal charges and recapture charges on amounts of up to $250,000 of your Contract Value from the Investment Divisions, Fixed Account (subject to certain exclusions) and the GMWB Fixed Account that you withdraw after providing us with a physician’s statement that you have been confined to a nursing home or hospital for 90 consecutive days, beginning at least 30 days after your Contract was issued.

You may exercise these benefits once under your Contract.

Optional Five-Year Withdrawal Charge Period. If you are 85 years of age or younger, you may elect an endorsement to your Contract that substitutes for the Contract’s usual seven-year withdrawal period a five-year withdrawal period with withdrawal charges in contribution years one through five of 8%, 7%, 6%, 4% and 2%, respectively, and 0% thereafter.  The charge for this optional feature on an annualized basis is 0.30% of average daily net asset value of your allocations to the Investment Divisions.

The charges for the Five-Year Withdrawal Charge Period options continue for as long as one holds the Contract.  The potential benefits of those options normally will persist for no more than four to six years, depending on performance (the greater the performance the less the benefit) and payment patterns (large subsequent payments in relation to the initial payment make the benefits persist for a longer time than for a Contract where only the initial payment is made).  In the case of some surrenders in the third Contract year, the Five-Year Withdrawal Charge Period does not provide a benefit and may even impose a small detriment.

20% Additional Free Withdrawal.  If you elect the 20% Additional Free Withdrawal endorsement, you may withdraw an additional 20% of Premiums that are subject to a withdrawal charge (subject to certain exclusions), minus earnings, during a Contract Year without a withdrawal charge and you will pay 0.30% on an annual basis of the average daily net asset value of your allocations to the Investment Divisions.  This endorsement will replace the 10% Additional Free Withdrawal endorsement.  The 20% Additional Free Withdrawal endorsement is a liquidity feature that provides a benefit if you contemplate or need to take large withdrawals.  The 20% Additional Free Withdrawal endorsement provides extra liquidity in any market environment but, when it is elected in combination with any GMWB, taking full advantage of the endorsement may have an adverse effect on the GMWB if the withdrawal exceeds the GAWA, as a withdrawal in excess of the GAWA may always reduce the GAWA and potentially limit the benefits available.  In fact, any time you use the 20% Additional Free Withdrawal endorsement when the amount of the withdrawal exceeds the GAWA and the Contract Value is less than the GWB, it is disadvantageous.  You may not elect this option if you elect the 3%, 4% or 5% Contract Enhancement endorsements.

Guaranteed Minimum Withdrawal Benefit Considerations. Most people who are managing their investments to
 
56
 
provide retirement income want to provide themselves with sufficient lifetime income and also to provide for an inheritance for their beneficiaries.  The main obstacles they face in meeting these goals are the uncertainties as to (i) how much income their investments will produce, and (ii) how long they will live and will need to draw income from their investments.  A Guaranteed Minimum Withdrawal Benefit (GMWB) is designed to help reduce these uncertainties.

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

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

The Joint For Life GMWB with Bonus and Step-Up, and the Joint For Life GMWB with Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount endorsements are available only to spouses and differ from the For Life GMWB with Bonus and Step-Up without the Joint Option, and the For Life GMWB with Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount without the Joint Option endorsements (which are available to spouses and unrelated parties) and enjoy the following advantages:

●
If the Contract Value falls to zero, benefit payments under the endorsement will continue until the death of the last surviving Covered Life if the For Life Guarantee is effective.  (For more information about the For Life Guarantee and for information on who is a Covered Life under this form of GMWB, please see the “LifeGuard Freedom Flex With Joint Option GMWB ” subsection beginning on page 117 and the “Joint For Life GMWB with Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount” subsection beginning on page 92.)
 
●
If an Owner dies before the automatic payment of benefits begins, the surviving Covered Life may continue the Contract and the For Life Guarantee is not automatically terminated (as it is on the For Life GMWBs without the Joint Option).

The Joint For Life GMWBs have a higher charge than the respective For Life GMWBs without the Joint Option.

Additionally, the timing and amounts of withdrawals under a GMWB have a significant impact on the amount and duration of benefits.  The cumulative cost of a GMWB also is greater the longer the duration of ownership.  The closer you are to retirement the more reliably you may be able to forecast your needs to make withdrawals prior to the ages where the amounts of certain benefits (such as a For Life Guarantee (59 1/2) and a GWB adjustment (70)) are locked-in.  Conversely, forecasts at younger ages may prove less reliable.  You should undertake careful consideration and thorough consultation with your representative or retirement planning agent as to the financial resources and age of the Owner/Annuitant and the value to you of the potentially limited downside protection that a GMWB might provide.

Guaranteed Minimum Withdrawal Benefit Important Special Considerations. Each of the GMWBs provides that the GMWB and all benefits thereunder will terminate on the Income Date, which is the date when annuity payments begin.  The Income Date is either a date that you choose or the Latest Income Date.  For Contracts issued, the Latest Income Date is the Contract Anniversary on or next following the Owner’s 95th birthday under a non-qualified Contract, or such earlier date as required by the applicable qualified plan, law or regulation.  For more information, please see “INCOME PAYMENTS (THE INCOME PHASE)” beginning on page 135.

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

These considerations are of greater significance if you are thinking about electing or have elected a GMWB For Life, as the For Life payments will cease when you annuitize voluntarily or on the Latest Income Date.  Although each of the For Life GMWBs contain an annuitization option that may allow the equivalent of For Life payments when you annuitize on the Latest Income Date, all benefits under a GMWB For Life (and under the other GMWBs) will terminate when you annuitize.
 
57

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

Required Minimum Distributions under Certain Tax Qualified Plans (“RMDs”). The following RMD NOTES contain important information about withdrawals of RMDs from a Contract with a GMWB.  However, for the MarketGuard Stretch GMWB, please refer to the Stretch RMD Notes on page 132.  For certain tax-qualified Contracts, GMWBs allow withdrawals greater than the Guaranteed Annual Withdrawal Amount (GAWA) to meet a Contract’s RMD without compromising the guarantees. The RMD NOTES describe conditions, limitations and special situations related to withdrawals involving a RMD.

 
RMD NOTES:  Notice of an RMD is required at the time of your withdrawal request, and there is an administrative form for such notice.  The administrative form allows for one time or systematic withdrawals.  Eligible withdrawals that are specified as RMDs may only be taken based on the value of the Contract to which the endorsement applies, even where the Internal Revenue Code allows for the taking of RMDs for multiple contracts from a single contract.  You, as Owner, are responsible for complying with the Internal Revenue Code’s RMD requirements.  If your requested RMD exceeds our calculation of the RMD for your Contract, your request will not be eligible for the waiver of any applicable charges (i.e., withdrawal charges and recapture charges) and we will impose those charges, which will be reflected in the confirmation of the transaction.  An RMD exceeding our calculation may also result in an Excess Withdrawal for purposes of your GMWB.  For information regarding the RMD calculation for your Contract, please contact our Annuity Service Center.  Our contact information is on the cover page of this prospectus.
 
  
 
Under the Internal Revenue Code, RMDs are calculated and taken on a calendar year basis.  But with a GMWB, the GAWA is based on Contract Years.  Because the intervals for the GAWA and RMDs are different, the endorsement’s guarantees may be more susceptible to being compromised.  With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceed the greatest of the RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above.  (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the RMD and the GAWA.)  Below is an example of how this modified limit would apply.
 
  
 
Assume a tax-qualified Contract with a Contract Year that runs from July 1 to June 30, and that there are no withdrawals other than as described.  The GAWA for the 201 6 Contract Year (ending June 30) is $10.  The RMDs for calendar years 201 5 and 201 6 are $14 and $16, respectively.
 
  
 
If the Owner takes $7 in each of the two halves of calendar year 201 5 and $8 in each of the two halves of calendar year 201 6 , then at the time the withdrawal in the first half of calendar year 201 6 is taken, the Owner will have withdrawn $15.  Because the sum of the Owner’s withdrawals for the 201 6 Contract Year is less than the higher RMD for either of the two calendar years occurring in that Contract Year, the GWB and GAWA would not be adversely recalculated.
 
  
 
An exception to this general rule permits that with the calendar year in which your RMDs are to begin (generally, when you reach age 70 1/2), you may take your RMDs for the current and next calendar years during the same Contract Year, as necessary (see example below).
 
  
 
The following example illustrates this exception.  It assumes an individual Owner, born January 1, 194 5 , of a tax-qualified Contract with a Contract Year that runs from July 1 to June 30.
 
  
 
If the Owner delays taking his first RMD (the 201 5 RMD) until March 30, 201 6 , he may still take the 201 6 RMD before the next Contract Year begins, June 30, 201 6 without exposing the GWB and GAWA to the possibility of adverse recalculation.  However, if he takes his second RMD (the 201 6 RMD) after June 30, 201 6 , he should wait until the next Contract Year begins (that is after June 30, 201 7 ) to take his third RMD (the 201 7 RMD).  Because, except for the calendar year in which RMDs begin, taking two RMDs in a single Contract Year could cause the GWB and GAWA to be adversely recalculated (if the two RMDs exceeded the applicable GAWA for that Contract Year).
 
  
 
Examples that are relevant or specific to tax-qualified Contracts  in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix D, specifically examples 4, 5, and 7 under sections “I.  SafeGuard Max,” “II.  AutoGuard 5, AutoGuard 6,” “III.  Jackson Select Protector,” and “VI.  MarketGuard Stretch,” or examples 6, 7 and 9 under sections “IV.  LifeGuard Freedom 6 Net” and “V.  
  
 
58
 
  LifeGuard Freedom Flex.”  Please consult the representative who is helping, or who helped, you purchase your tax-qualified Contract, and your tax adviser, to be sure that a particular GMWB ultimately suits your needs relative to your RMD.  

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

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

PLEASE NOTE:  EFFECTIVE APRIL 29, 2013, THIS ENDORSEMENT IS CURRENTLY NO LONGER AVAILABLE TO ADD TO A CONTRACT.

This GMWB guarantees partial withdrawals during the Contract’s accumulation phase (i.e., before the Income Date) until the earlier of:
●
The Owner’s (or any joint Owner’s) death;
 
  Or
●
Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.
 
The GWB is the guaranteed amount available for future periodic withdrawals.
 
PLEASE NOTE:  The guarantees of this GMWB are subject to the endorsement’s terms, conditions, and limitations that are explained below.

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

This GMWB is available to Owners up to 85 years old (proof of age is required); may be added to a Contract on the Issue Date or on any Contract Anniversary; and once added cannot be canceled.  If you want to elect this GMWB after the Contract Issue Date on a Contract Anniversary (subject to availability), we must receive a request in Good Order within 30 calendar days prior to the Contract Anniversary.  We allow ownership changes of a Contract with this GMWB when the Owner is a legal entity – to another legal entity or the Annuitant.  In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not described above as a permitted change will result in termination of the GMWB. Otherwise, ownership changes are not allowed.  When the Owner is a legal entity, changing Annuitants is not allowed.  Availability of this GMWB may be subject to further limitation.

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

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

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

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When this GMWB is added to the Contract
on any Contract Anniversary –
The GWB equals Contract Value less the recapture charge on any Contract Enhancement.
 
The GAWA is determined based on the Owner’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  See the GAWA percentage table below.
 
Contract Enhancements and the corresponding recapture charges are not included in the calculation of the GWB when this GMWB is added to the Contract on the Issue Date.  This is why Premium (net of any applicable Premium taxes) is used to calculate the GWB when this GMWB is added to the Contract on the Issue Date.  If you instead added this GMWB to your Contract post issue on a Contract Anniversary (subject to availability), the GWB was calculated based on Contract Value, which included any previously applied Contract Enhancements, and, as a result, we subtracted any applicable recapture charge from the Contract Value to calculate the GWB.  In any event, with Contract Enhancements, the result is a GWB that is less than Contract Value when this GMWB is added to the Contract.  (See Example 1 in Appendix D under section “I. SafeGuard Max”.)  The GWB can never be more than $5 million (including upon step-up), and the GWB is reduced by each withdrawal.

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

Withdrawals.  The GAWA percentage and the GAWA are determined at the time of the first withdrawal.  Once the GAWA percentage is determined, it will not change.  The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  The GAWA percentage varies according to age group and is determined based on the Owner’s attained age at the time of the first withdrawal.  If there are joint Owners, the GAWA percentage is based on the attained age of the oldest joint Owner.  (Elsewhere in this prospectus we refer to this varying GAWA percentage structure as the “varying benefit percentage”.)  The GAWA percentage for each age group is:

Ages
GAWA Percentage
0 – 74
7%
75 – 79
8%
80 – 84
9%
85+
10%
 
We reserve the right to prospectively change the GAWA percentages, including the age bands, on new GMWB endorsements. We recommend you check with your representative to learn about the current level of the GAWA percentages, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus. If we change the GAWA percentages described above, we will follow these procedures:
1) When we issue your Contract we will deliver a copy of the prospectus that includes the notice of change of GAWA percentages in the form of a prospectus update to you.  You will have until the end of the Free Look period to cancel your Contract and this GMWB by returning the Contract to us pursuant to the provisions of the Free Look section (please see “Free Look” on page 149).
2) If you are an existing Owner and are eligible to elect this GMWB after the Issue Date, at the time we change the GAWA percentages we will send you the notice of change of GAWA percentages in the form of a prospectus update. If you later elect this GMWB, when we receive your election, we will send you the required endorsement with a duplicate notice of change of GAWA percentages. You will have 30 days after receiving the notice to cancel your election of this GMWB by returning the endorsement to us.
In each case, the actual GAWA percentages will be reflected in your Contract endorsement.

Withdrawals cause the GWB to be recalculated.  Withdrawals may also cause the GAWA to be recalculated, depending on whether or not the withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA).  If the GWB falls below the GAWA at the end of a Contract Year, the GAWA will be reset to equal the GWB.  This may occur, when over time, payment of guaranteed withdrawals is nearly complete and the GWB has been depleted.  The tables below clarify what happens in each instance.  RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only.  (There is no RMD for non-qualified Contracts.)

For certain tax-qualified Contracts, this GMWB allows withdrawals greater than GAWA to meet the Contract’s RMD without compromising the endorsement’s guarantees.  Examples 4, 5 and 7 in Appendix D under section “I. SafeGuard Max” supplement this description.  Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, then please see “RMD NOTES” under “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” on page 57, for more information.
 
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When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, as applicable –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the withdrawal less the withdrawal; Or
       
    ●
Zero.
       
   
The GAWA is unchanged.   At the end of each Contract Year, if the GWB is less than the GAWA, the GAWA is set equal to the GWB.
 
You may withdraw the greater of the GAWA or RMD, as applicable, all at once or throughout the Contract Year.  Withdrawing less than the greater of the GAWA or RMD, as applicable, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, as applicable, in the next Contract Year.  The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.

Withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 5 in Appendix D under section “I. SafeGuard Max”).  In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount.  The GAWA is also likely to be reduced.  Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit and may lead to its premature termination.
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or RMD, as applicable –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
       
    ●
Zero.
         
   
The GAWA is recalculated, equaling:
         
      ●
The GAWA prior to the partial withdrawal reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.
 
The Excess Withdrawal is defined to be the lesser of:

●
The total amount of the current partial withdrawal, Or
 
●
The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any withdrawal charges, recapture charges and other charges or adjustments.  Any withdrawals from Contract Value allocated to a Fixed Account Option may be subject to an Excess Interest Adjustment.  For more information, please see “THE FIXED ACCOUNT AND GMWB FIXED ACCOUNT” beginning on page 13.  Withdrawals may be subject to a recapture charge on any Contract Enhancement.  Withdrawals in excess of free withdrawals may be subject to a withdrawal charge.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts, withdrawals of asset allocation and advisory fees, and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

If the age of any Owner is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age.  Any future GAWA percentage recalculation will be based on the correct age.  If the age at election of the Owner (or oldest joint Owner) falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.
 
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Withdrawals made under section 72(t) or section 72(q) of the Code are not considered RMDs for purposes of preserving the guarantees under this GMWB.  Such withdrawals that exceed the GAWA will have the same effect as any withdrawal or excess withdrawal as described above and, consistent with that description, may cause a significant negative impact to your benefit.

Premiums.
 
With each subsequent Premium payment
on the Contract -
The GWB is recalculated, increasing by the amount of the Premium net of any applicable Premium taxes.
 
If the Premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
 
 
●
The GAWA percentage multiplied by the subsequent Premium payment net of any applicable Premium taxes; Or
 
 
●
The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.
 
We require prior approval for a subsequent Premium payment that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments.  The GWB can never be more than $5 million.  See Example 3b in Appendix D under section “I. SafeGuard Max” to see how the GWB is recalculated when the $5 million maximum is hit.

Step-Up.  In the event Contract Value is greater than the GWB, this GMWB allows the GWB to be reset to the Contract Value (a “step-up”).  (See Examples 6 and 7 in Appendix D under section “I. SafeGuard Max”.)

Upon election of a step-up, the GMWB charge may be increased, subject to the maximum charges listed above.
 
With a step-up -
The GWB equals Contract Value (subject to a $5 million maximum).
 
If the step-up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
 
 
●
The GAWA percentage multiplied by the new GWB, Or
 
 
●
The GAWA prior to step-up.
 
The first opportunity for a step-up is the fifth Contract Anniversary after this GMWB is added to the Contract.  Thereafter, a step-up is allowed at any time, but there must always be at least five years between step-ups.  The GWB can never be more than $5 million with a step-up.  A request for step-up is processed and effective on the date received in Good Order.  Please consult the representative who helped you purchase your Contract to be sure if a step-up is right for you and about any increase in charges upon a step-up.  Upon election of a step-up, the applicable GMWB charge will be reflected in your confirmation.

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

Contract Value Is Zero.  If your Contract Value is reduced to zero as the result of a partial withdrawal, contract charges or poor Fund performance and the GWB is greater than zero, the GWB will be paid to you on a periodic basis elected by you, which will be no less frequently than annually, so long as the Contract is still in the accumulation phase.  The total annual payment will equal the GAWA, but will not exceed the current GWB.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner’s (or oldest joint Owner’s) attained age at the time the Contract Value is reduced to zero and the GAWA will be equal to the GAWA percentage multiplied by the GWB.
 
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After each payment when the Contract Value is zero –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the payment less the payment; Or
       
    ●
Zero.
         
   
The GAWA is recalculated, equaling the lesser of:
         
      ●
The GAWA before the payment;Or
         
      ●
The GWB after the payment.
 
All other rights under your Contract cease and we will no longer accept subsequent Premium payments and all optional endorsements are terminated without value.  Upon your death as the Owner, no death benefit is payable, including the Earnings Protection Benefit.

Spousal Continuation.  If the Contract is continued by the spouse, the spouse retains all rights previously held by the Owner.
If the spouse continues the Contract and this endorsement already applies to the Contract, the GMWB will continue and no adjustment will be made to the GWB or the GAWA at the time of continuation.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner’s (or oldest joint Owner’s) attained age on the continuation date and the GAWA will be equal to the GAWA percentage multiplied by the GWB.  Your spouse may elect to step-up on the continuation date.  If the Contract is continued under the Special Spousal Continuation Option (please see “Special Spousal Continuation Option” on page 144), the value applicable upon step-up is the Contract Value, including any adjustments applied on the continuation date.  Any subsequent step-up must follow the step-up restrictions listed above (Contract Anniversaries will continue to be based on the anniversary of the original Contract’s Issue Date).  Upon spousal continuation of a Contract without the Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up, if the Guaranteed Minimum Withdrawal Benefit With 5-Year Step-Up is available at the time, the spouse may request to add this endorsement within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if the request is made in Good Order.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 144.

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

●
The Income Date;
 
●
The date of complete withdrawal of Contract Value (full surrender of the Contract);
 
   
In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.
 
●
The date of the Owner’s death (or the first Owner’s death with joint Owners), unless the Beneficiary who is the Owner’s spouse elects to continue the Contract with the GMWB;
 
●
The first date both the GWB and the Contract Value equals zero; or
 
● The date all obligations under this GMWB are satisfied after the Contract has been terminated.

Annuitization.

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

Fixed Payment Income Option.  This income option provides payments in a fixed dollar amount for a specific number of years.  The actual number of years that payments will be made is determined on the calculation date by dividing the GWB by the GAWA.  Upon each payment, the GWB will be reduced by the payment amount.  The total annual amount payable will equal the GAWA but will never exceed the current GWB.  This annualized amount will be paid over the specific number of years in the frequency (no less frequently than annually) that you select.  If you should die (assuming you are the Owner) before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.
 
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If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the Owner’s (or oldest joint Owner’s) attained age at the time of election of this option and the GAWA will be equal to the GAWA percentage multiplied by the GWB.  The GAWA percentage will not change after election of this option.

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

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 56  for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

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

5% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 5”). The following description is supplemented by the examples in Appendix D under section “II.  AutoGuard 5, AutoGuard 6”  that may assist you in understanding how calculations are made in certain circumstances.

This is a Guaranteed Minimum Withdrawal Benefit (GMWB) which permits an Owner to make partial withdrawals prior to the Income Date that, in total, are guaranteed to equal the Guaranteed Withdrawal Balance (GWB) (as defined below), regardless of your Contract Value.  This GMWB is available to add to a Contract on the Contract’s Issue Date or on any Contract Anniversary. This GMWB is not available on a Contract that already has a GMWB (one GMWB only per Contract).    We may further limit the availability of this optional endorsement.  Once selected, the 5% GMWB With Annual Step-Up cannot be canceled.

This GMWB is available to Owners 80 years old and younger on the date on which this endorsement is selected. If the age at election of the Owner (if Joint Owners, the oldest Joint Owner) falls outside the allowable age range, the GMWB will be null and void and all GMWB Charges will be refunded.  We allow ownership changes of a Contract with this GMWB (i) from an Owner that is a natural person to a trust, if that individual and the Annuitant are the same person or (ii) when the Owner is a legal entity, to another legal entity or the Annuitant, provided these changes are not taxable events under the Code.  In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not described above as a permitted change will result in termination of the GMWB. Otherwise, changes of Owner are not allowed.  When the Owner is a legal entity, changing Annuitants is not allowed.

If you select the 5% GMWB With Annual Step-Up when you purchase your Contract, your Premium payment net of any applicable taxes, plus any Contract Enhancement, will be used as the basis for determining the GWB.    The 5% GMWB With Annual Step-Up may also be selected after the Issue Date (subject to availability) within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if your request is in Good Order.  If you select the 5% GMWB With Annual Step-Up after the Issue Date, to determine the GWB, we will use your Contract Value.  The GWB can never be more than $5 million (including upon “step-up”), and the GWB is reduced with each withdrawal you take.

Once the GWB has been determined, we calculate the Guaranteed Annual Withdrawal Amount (GAWA), which is the maximum annual partial withdrawal amount, except for certain tax-qualified Contracts (as explained below).  Upon selection, the GAWA is equal to 5% of the GWB.  The GAWA will generally not be reduced if partial withdrawals taken within any one Contract Year do not exceed 5%.  However, withdrawals are not cumulative.  If you do not take 5% in one Contract Year, you may not take more than 5% the next Contract Year.  If you withdraw more than 5%, the GWB may be reduced by more than the amount of the withdrawal and the GAWA will likely be reduced.  The GAWA can be divided up and taken on a payment schedule that you request.  You can continue to take the GAWA each Contract Year until the GWB has been depleted. If the GWB falls below the GAWA at the time of an Excess Withdrawal (see below) or at the end of a Contract Year, the GAWA will be reset to equal the GWB.  This may occur, when over time, payment of guaranteed withdrawals is nearly complete and the GWB has been depleted.

Withdrawal charges, asset allocation fees, Contract Enhancement recapture charges, Excess Interest Adjustments and other charges and adjustments, as applicable, are taken into consideration in calculating the amount of your partial withdrawals pursuant to the 5% GMWB With Annual Step-Up, but these charges or adjustments are offset by your ability to make free withdrawals under the Contract.
 
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Any time a subsequent Premium payment is made, we recalculate the GWB and the GAWA.  Each time you make a Premium payment, the GWB is increased by the amount of the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement.  Also, the GAWA will increase by either (a) 5% of the sum of i) the subsequent Premium payment less any applicable taxes, plus ii) any Contract Enhancement, or (b) 5% of the increase in the GWB, if the maximum GWB is reached.  We require prior approval for a subsequent Premium payment that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments.  See Example 3b in Appendix D under section “II.  AutoGuard 5, AutoGuard 6” to see how the GWB is recalculated when the $5 million maximum is reached.

If the total of your partial withdrawals made in the current Contract Year is greater than the GAWA, we will recalculate your GWB and your GAWA will likely be lower in the future.  In other words, withdrawing more than the GAWA in any Contract Year could cause the GWB to be reduced by more than the amount of the withdrawal(s), likely reducing the GAWA, as well.  Recalculation of the GWB and GAWA may result in reducing or extending the payout period.  Examples 4, 5, and 7 in Appendix D under section “II.  AutoGuard 5, AutoGuard 6” illustrate the impact of such withdrawals.

For certain tax-qualified Contracts, this GMWB allows for withdrawals greater than the GAWA to meet the Contract’s required minimum distributions (RMDs) under the Internal Revenue Code (Code) without compromising the endorsement’s guarantees.  Examples 4, 5, and 7 in Appendix D under section “II.  AutoGuard 5, AutoGuard 6” supplement this description.  Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, please see “RMD Notes” under “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” on page 57, for more information.

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

●
the GWB prior to the partial withdrawal less the partial withdrawal; or
 
●
zero.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is less than or equal to the greater of the GAWA at the time of the partial withdrawal, or the RMD, as applicable, the GAWA is unchanged at the time of the withdrawal.  At the end of each Contract Year, if the GWB is less than the GAWA, the GAWA is set equal to the GWB.
If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year exceeds the greater of the GAWA at the time of the partial withdrawal, or the RMD, as applicable, the GWB is equal to the greater of:

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

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

●
the GAWA prior to the partial withdrawal reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal, or
 
●
the GWB after the partial withdrawal.

The Excess Withdrawal is defined to be the lesser of:

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

Consistent with the explanation above, withdrawals greater than the GAWA or RMD, as applicable, may have a significantly negative impact on the value of this benefit through prematurely reducing the GWB and GAWA and, therefore, cause the benefit to prematurely terminate (see Example 5 in Appendix D under section “II.  AutoGuard 5, AutoGuard 6”).  For purposes of all of these calculations, all partial withdrawals are assumed to be the total amount withdrawn, including any withdrawal charges, asset allocation fees, recapture charges, Excess Interest Adjustments and other charges and adjustments.
 
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Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s standard death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts, withdrawals of asset allocation and advisory fees, partial 1035 exchanges and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

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

Step-Up. If no withdrawals have been taken from the Contract following the date this GMWB is issued, on each Contract Quarterly Anniversary, if the Contract Value on that date is greater than the GWB, the GWB will be reset to the Contract Value on the Contract Quarterly Anniversary (a “step-up”).  After the first withdrawal has been taken from the Contract, step-ups will no longer be determined on Contract Quarterly Anniversaries. Instead, step-ups will be determined on each Contract Anniversary.  If the Contract Value is greater than the GWB on the Contract Anniversary, the GWB will be reset to the Contract Value on the Contract Anniversary.  If the first withdrawal from the Contract is taken on a Contract Quarterly Anniversary that is not a Contract Anniversary, there will be no step-up on that Contract Quarterly Anniversary and the next step-up determination will occur on the next Contract Anniversary.  Upon step-up on or after the 2nd Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge.  You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups.  Such election must be received in Good Order prior to the Contract Anniversary or Contract Quarterly Anniversary.  While electing to discontinue the automatic step-ups will prevent an increase in the charge, discontinuing step-ups also means foregoing possible increases in your GWB and/or GAWA, so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary or Contract Quarterly Anniversary following receipt of the request in Good Order within 30 days prior to the Contract Anniversary or Contract Quarterly Anniversary.

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

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

Contract Value Is Zero.  If your Contract Value is reduced to zero as the result of a partial withdrawal, contract charges or poor Fund performance and the GWB is greater than zero, the GWB will be paid automatically to you on a n annual basis, so long as the Contract is still in the accumulation phase.  The total annual payment will equal the GAWA, but will not exceed the current GWB.  The payments continue until the GWB is reduced to zero. Subject to the Company’s approval, you may elect to receive payments more frequently than annually.

All other rights under your Contract cease and we will no longer accept subsequent Premium payments and all optional endorsements are terminated without value. Upon your death as Owner, or the death of a joint Owner, all payments cease.  No other death benefit or Earnings Protection Benefit will be paid.

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

Fixed Payment Income Option.  This income option provides payments in a fixed dollar amount for a specific number of years.  The actual number of years that payments will be made is determined on the calculation date by dividing the GWB by the GAWA.  Upon each payment, the GWB will be reduced by the payment amount.  The total annual amount payable will equal the GAWA but will never exceed the current GWB.  This annualized amount will be paid over the specific number of years in the frequency (no less frequently than annually) that you select.  If you should die (assuming you are the Owner) before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.
 
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This income option may not be available if the Contract is issued to qualify under Sections 401, 403, 408 or 457 of the Internal Revenue Code.  For such Contracts, this income option will only be available if the guaranteed period is less than the life expectancy of the Annuitant at the time the option becomes effective.  In addition, no adjustments will be made to the GAWA after election of this option, nor will a commuted value be available.  This income option is only available on your Latest Income Date (see “Income Payments (the Income Phase)”) on page 135.

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 56  for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

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

6% Guaranteed Minimum Withdrawal Benefit With Annual Step-Up (“AutoGuard 6”). The following description is supplemented by the examples in Appendix D under section “II.  AutoGuard 5, AutoGuard 6” that may assist you in understanding how calculations are made in certain circumstances.

PLEASE NOTE:  EFFECTIVE APRIL 29, 2013, THIS ENDORSEMENT IS CURRENTLY NO LONGER AVAILABLE TO ADD TO A CONTRACT.

This is a Guaranteed Minimum Withdrawal Benefit (GMWB) which permits an Owner to make partial withdrawals prior to the Income Date that, in total, are guaranteed to equal the Guaranteed Withdrawal Balance (GWB)(as defined below), regardless of your Contract Value.  This GMWB is available to add to a Contract on the Contract’s Issue Date or on any Contract Anniversary.  This GMWB is not available on a Contract that already has a GMWB (one GMWB only per Contract).    We may further limit the availability of this optional endorsement.  Once selected, the 6% GMWB With Annual Step-Up cannot be canceled.

This GMWB is available to Owners 80 years old and younger on the date on which this endorsement is selected.  If the age at election of the Owner (if Joint Owners, the oldest Joint Owner) falls outside the allowable age range, the GMWB will be null and void and all GMWB Charges will be refunded. We allow ownership changes of a Contract with this GMWB (i) from an Owner that is a natural person to a trust, if that individual and the Annuitant are the same person or (ii) when the Owner is a legal entity, to another legal entity or the Annuitant, provided these changes are not taxable events under the Code.  In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not described above as a permitted change will result in termination of the GMWB. Otherwise, changes of Owner are not allowed.  When the Owner is a legal entity, changing Annuitants is not allowed.

If you select the 6% GMWB With Annual Step-Up when you purchase your Contract, your Premium payment net of any applicable taxes, plus any Contract Enhancement, will be used as the basis for determining the GWB.    The 6% GMWB With Annual Step-Up may also be selected after the Issue Date (subject to availability) within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if your request is in Good Order.  If you select the 6% GMWB With Annual Step-Up after the Issue Date, to determine the GWB, we will use your Contract Value.  The GWB can never be more than $5 million (including upon “step-up”), and the GWB is reduced with each withdrawal you take.

Once the GWB has been determined, we calculate the Guaranteed Annual Withdrawal Amount (GAWA), which is the maximum annual partial withdrawal amount, except for certain tax-qualified Contracts (as explained below).  Upon selection, the GAWA is equal to 6% of the GWB.  The GAWA will generally not be reduced if partial withdrawals taken within any one Contract Year do not exceed 6%.  However, withdrawals are not cumulative.  If you do not take 6% in one Contract Year, you may not take more than 6% the next Contract Year.  If you withdraw more than 6%, the GWB may be reduced by more than the amount of the withdrawal and the GAWA will likely be reduced.  The GAWA can be divided up and taken on a payment schedule that you request.  You can continue to take the GAWA each Contract Year until the GWB has been depleted. If the GWB falls below the GAWA at the time of an Excess Withdrawal (see below) or at the end of a Contract Year, the GAWA will be reset to equal the GWB.  This may occur, when over time, payment of guaranteed withdrawals is nearly complete and the GWB has been depleted.

Withdrawal charges, asset allocation fees, Contract Enhancement recapture charges, Excess Interest Adjustments and other charges and adjustments, as applicable, are taken into consideration in calculating the amount of your partial withdrawals pursuant to the 6% GMWB With Annual Step-Up, but these charges or adjustments are offset by your ability to make free withdrawals under the Contract.
 
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Any time a subsequent Premium payment is made, we recalculate the GWB and the GAWA.  Each time you make a Premium payment, the GWB is increased by the amount of the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement.  Also, the GAWA will increase by either (a) 6% of the  sum of i) the subsequent Premium payment less any applicable taxes, plus ii) any Contract Enhancement, or (b) 6% of the increase in the GWB, if the maximum GWB is reached.  We require prior approval for a subsequent Premium payment, that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments. See Example 3b in Appendix D under section “II.  AutoGuard 5, AutoGuard 6”  to see how the GWB is recalculated when the $5 million maximum is reached.

If the total of your partial withdrawals made in the current Contract Year is greater than the GAWA, we will recalculate your GWB and your GAWA will likely be lower in the future.  In other words, withdrawing more than the GAWA in any Contract Year could cause the GWB to be reduced by more than the amount of the withdrawal(s), likely reducing the GAWA, as well .  Recalculation of the GWB and GAWA may result in reducing or extending the payout period.  Examples 4, 5, and 7 in Appendix D under section “II.  AutoGuard 5, AutoGuard 6” illustrate the impact of such withdrawals.

For certain tax-qualified Contracts, this GMWB allows for withdrawals greater than the GAWA to meet the Contract’s required minimum distributions (RMDs) under the Internal Revenue Code (Code) without compromising the endorsement’s guarantees.  Examples 4, 5, and 7 in Appendix D under section “II.  AutoGuard 5, AutoGuard 6” supplement this description.  Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, please see “RMD Notes” under “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” on page 57, for more information.

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

●
the GWB prior to the partial withdrawal less the partial withdrawal; or
 
●
zero.

If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is less than or equal to the greater of the GAWA at the time of the partial withdrawal, or the RMD, as applicable, the GAWA is unchanged at the time of the withdrawal. At the end of each Contract Year, if the GWB is less than the GAWA, the GAWA is set equal to the GWB.
 
If the partial withdrawal plus all prior partial withdrawals made in the current Contract Year exceeds the greater of the GAWA at the time of the partial withdrawal, or the RMD, as applicable, the GWB is equal to the greater of:

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

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

●
the GAWA prior to the partial withdrawal reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal, or
 
●
the GWB after the partial withdrawal.

The Excess Withdrawal is defined to be the lesser of:

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

Consistent with the explanation above, withdrawals greater than the GAWA or RMD, as applicable, may have a significantly negative impact on the value of this benefit through prematurely reducing the GWB and GAWA and, therefore, cause the benefit to prematurely terminate (see Example 5 in Appendix D under section “II.  AutoGuard 5, AutoGuard 6”).  For purposes of all of these calculations, all partial withdrawals are assumed to be the total amount withdrawn, including any withdrawal charges, asset allocation fees, recapture charges, Excess Interest Adjustments and other charges and adjustments.
 
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Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s standard death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts, withdrawals of asset allocation and advisory fees, partial 1035 exchanges, and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

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

Step-Up. If no withdrawals have been taken from the Contract following the date this GMWB is issued, on each Contract Quarterly Anniversary, if the Contract Value on that date is greater than the GWB, the GWB will be reset to the Contract Value on the Contract Quarterly Anniversary (“step-up”). After the first withdrawal has been taken from the Contract, step-ups will no longer be determined on Contract Quarterly Anniversaries. Instead, step-ups will be determined on each Contract Anniversary.  If the Contract Value is greater than the GWB on the Contract Anniversary, the GWB will be reset to the Contract Value on the Contract Anniversary.  If the first withdrawal from the Contract is taken on a Contract Quarterly Anniversary that is not a Contract Anniversary, there will be no step-up on that Contract Quarterly Anniversary and the next step-up determination will occur on the next Contract Anniversary.  Upon step-up on or after the 2nd Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge.  You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups.  Such election must be received in Good Order prior to the Contract Anniversary or Contract Quarterly Anniversary.  While electing to discontinue the automatic step-ups will prevent an increase in the charge, discontinuing step-ups also means foregoing possible increases in your GWB and/or GAWA, so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary or Contract Quarterly Anniversary following receipt of the request in Good Order within 30 days prior to the Contract Anniversary or Contract Quarterly Anniversary.

Spousal Continuation.  If you die before annuitizing a Contract with the 6% GMWB With Annual Step-Up, the Contract’s death benefit is still payable when the Contract Value is greater than zero.  Alternatively, the Contract allows the Beneficiary who is your spouse to continue it, retaining all rights previously held by the Owner.  If the spouse continues the Contract and the 6% GMWB With Annual Step-Up endorsement already applies to the Contract, the 6% GMWB With Annual Step-Up will continue and no adjustment will be made to the GWB or the GAWA at the time of continuation.  Step-ups will continue as permitted (as described above), and Contract Anniversaries and Contract Quarterly Anniversaries will continue to be based on the original Contract’s Issue Date.  Upon spousal continuation of a Contract without the 6% GMWB With Annual Step-Up, if the 6% GMWB With Annual Step-Up is available at the time, the Beneficiary may request to add this endorsement within 30 days before any Contract Anniversary, and the endorsement will take effect on the Contract Anniversary if the request is made in Good Order.

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

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

All other rights under your Contract cease and we will no longer accept subsequent Premium payments and all optional endorsements are terminated without value.    Upon your death as Owner, or the death of a joint Owner, all payments cease.   No other death benefit or Earnings Protection Benefit will be paid.

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

Fixed Payment Income Option.  This income option provides payments in a fixed dollar amount for a specific number of years.  The actual number of years that payments will be made is determined on the calculation date by dividing the GWB by the GAWA.  Upon each payment, the GWB will be reduced by the payment amount.  The total annual amount payable will equal the GAWA but will never exceed the current GWB.  This annualized amount will be paid over the specific number of years in the frequency (no less frequently than annually) that you select.  If you should die (assuming you are the Owner) before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.
 
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This income option may not be available if the Contract is issued to qualify under Sections 401, 403, 408 or 457 of the Internal Revenue Code.  For such Contracts, this income option will only be available if the guaranteed period is less than the life expectancy of the Annuitant at the time the option becomes effective. In addition, no adjustments will be made to the GAWA after election of this option, nor will a commuted value be available.  This income option is only available on your Latest Income Date (see “Income Payments (the Income Phase)”) on page 135.

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 56  for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

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


PLEASE NOTE:  EFFECTIVE APRIL 29, 2013, THIS ENDORSEMENT IS CURRENTLY NO LONGER AVAILABLE TO ADD TO A CONTRACT.

This is a Guaranteed Minimum Withdrawal Benefit (GMWB) that guarantees the withdrawal of a minimum annual amount for the duration of the life of the Owner (or, in the case of joint Owners, until the death of the first Owner to die) regardless of the performance of the underlying investment options. This benefit may be appropriate for those individuals who are looking for the combination of withdrawal benefit and death benefit available under this GMWB and who are not averse to allowing Jackson to transfer assets between investment options, on a formulaic basis, in order to protect its risk.

The following description of this GMWB is supplemented by the examples in Appendix D under section “III. Jackson Select Protector”, particularly example 2 for the varying benefit percentage, examples 6 and 7 for the step-ups and example 9 for transfer of assets.

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

●
The Owner’s life (the “For Life Guarantee”) if the For Life Guarantee is in effect;
 
   
The For Life Guarantee is based on the life of the first Owner to die with joint Owners.  There are also other GMWB options for joint Owners that are spouses, as described elsewhere in this prospectus.
 
For the Owner that is a legal entity, the For Life Guarantee is based on the Annuitant’s life (or the life of the first Annuitant to die if there is more than one Annuitant).
 
   
The For Life Guarantee becomes effective when this GMWB is added to the Contract.
 
   
So long as the For Life Guarantee is in effect, withdrawals are guaranteed even in the event the Contract Value is reduced to zero.
 
 Or
 
●
 If the For Life Guarantee is not in effect, until the earlier of (1) the death of the Owner (or any joint Owner) or (2) all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.
 
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The GWB is the guaranteed amount available for future periodic withdrawals (as explained below).
 
Because of the For Life Guarantee, your withdrawals could amount to more than the GWB.  But PLEASE NOTE:  The guarantees of this GMWB are subject to the endorsement’s terms, conditions, and limitations that are explained below.

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

This GMWB is available to Owners 55 to 80 years old (proof of age is required) and may be added to a Contract on the Issue Date or on any Contract Anniversary.  If you want to elect this GMWB after the Contract Issue Date on a Contract Anniversary (subject to availability), we must receive a request in Good Order within 30 calendar days prior to the Contract Anniversary.  The Owner may terminate this GMWB on any Contract Anniversary but a request for termination and any election of a new GMWB, as may be made available, must be received in writing in Good Order within 30 calendar days prior to the Contract Anniversary.  This GMWB may also be terminated by a Beneficiary who is the Owner’s spouse, who, upon the Owner’s death, may elect to continue the Contract without the GMWB.  This GMWB is also not available on a Contract that has another GMWB (only one GMWB per Contract).  Availability of this GMWB may be subject to further limitation.

We allow ownership changes of a Contract with this GMWB (i) from an Owner that is a natural person to a trust, if that individual and the Annuitant are the same person or (ii) when the Owner is a legal entity, to another legal entity or the Annuitant, provided these changes are not taxable events under the Code.  For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not described above as a permitted change will result in termination of the GMWB. Otherwise, changes of Owner are not allowed.  When the Owner is a legal entity, changing Annuitants is not allowed.
 
There is a limit on withdrawals each Contract Year to keep the guarantees of this GMWB in full effect – the greater of the Guaranteed Annual Withdrawal Amount (GAWA) and for certain tax-qualified Contracts, the required minimum distribution (RMD) under the Internal Revenue Code.  Withdrawals exceeding the limit do not invalidate the For Life Guarantee, but cause the GWB and GAWA to be recalculated.  Please see “Election” and “Withdrawals” below for more information about the GWB and GAWA.

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

On the Contract Issue Date –
 
Election After Issue, subject to availability −
The GWB equals initial Premium net of any applicable Premium taxes, plus any Contract Enhancement.
 
The GWB equals the Contract Value.
 
The endorsement will be effective on the Contract Anniversary following receipt of the request in Good Order.
 
Requests must be received within the 30 calendar days prior to the Contract Anniversary.
 
The GAWA is determined based on the Owner’s (or oldest joint Owner’s) attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  See the GAWA percentage table below.
 
The For Life Guarantee becomes effective on the Contract Issue Date, or the effective date of the endorsement.

Under the calculation of the GWB, Contract Enhancements are reflected in the GWB at issue, and as part of Contract Value after issue.  Potential recapture charges are not reflected either at issue or after issue in the GWB calculation.

The GWB can never be more than $5 million (including upon step-up) and the GWB is reduced by each withdrawal.

PLEASE NOTE:  Upon the Owner’s (or any joint Owner’s) death, the For Life Guarantee is void.  However, this GMWB may be continued by a spousal Beneficiary without the For Life Guarantee.  Please see the “Spousal Continuation” subsection below for more information.
 
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Withdrawals.  The GAWA percentage and the GAWA are determined at the time of the first withdrawal.  The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  The GAWA percentage varies according to age group and is determined based on the Owner’s attained age at the time of the first withdrawal.  If there are joint Owners, the GAWA percentage is based on the attained age of the oldest joint Owner.  (Elsewhere in this prospectus we refer to this varying GAWA percentage structure as the “varying benefit percentage”.)  The GAWA percentage for each age group is:

Ages
GAWA Percentage
55 – 74
5%
75 – 84
6%
85+
7%

We reserve the right to prospectively change the GAWA percentages, including the age bands, on new GMWB endorsements. We recommend you check with your representative to learn about the current level of the GAWA percentages, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus. If we change the GAWA percentages described above, we will follow these procedures:
1) When we issue your Contract we will deliver a copy of the prospectus that includes the notice of change of GAWA percentages in the form of a prospectus update to you.  You will have until the end of the Free Look period to cancel your Contract and this GMWB by returning the Contract to us pursuant to the provisions of the Free Look section (please see “Free Look” on page 142).
2) If you are an existing Owner and are eligible to elect this GMWB after the Issue Date, at the time we change the GAWA percentages we will send you the notice of change of GAWA percentages in the form of a prospectus update. If you later elect this GMWB, when we receive your election, we will send you the required endorsement with a duplicate notice of change of GAWA percentages. You will have 30 days after receiving the notice to cancel your election of this GMWB by returning the endorsement to us.
In each case, the actual GAWA percentages will be reflected in your Contract endorsement.

Withdrawals cause the GWB to be recalculated.  Withdrawals will also cause the GAWA to be recalculated if the withdrawal, plus all prior withdrawals in the current Contract Year exceeds the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA).  In such case, the recalculation of the GAWA will occur whether or not the For Life Guarantee is in effect.  If the GWB is less than the GAWA at the end of any Contract Year and the For Life Guarantee is not in effect, the GAWA will be set equal to the GWB.  This may occur, when over time, payment of the guaranteed withdrawals is nearly complete, the For Life Guarantee is not in effect and the GWB has been depleted to a level below the GAWA. The tables below clarify what happens in each instance.  (RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only.  There is no RMD for non-qualified Contracts.)

For certain tax-qualified Contracts, this GMWB allows withdrawals greater than GAWA to meet the Contract’s RMD without compromising the endorsement’s guarantees.  Examples 4, 5 and 7 in Appendix D under section “III. Jackson Select Protector” supplement this description. Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, please see “RMD NOTES” under “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” on page 57, for more information.
 
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, as applicable –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the withdrawal less the withdrawal;  Or
       
    ●
Zero.
         
   
The GAWA is unchanged.
 
The GAWA is not reduced if all withdrawals during any one Contract Year do not exceed the greater of the GAWA or RMD, as applicable.  The GAWA will be reduced at the end of a Contract Year  to equal the GWB if the For Life Guarantee is not effective and the GWB is nearly depleted, resulting in a GWB that is less than the GAWA. You may withdraw the greater of the GAWA or RMD, as applicable, all at once or throughout the Contract Year.  Withdrawing less than the greater of the GAWA or RMD, as applicable, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, as applicable, in the next Contract Year.  The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.

Withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 5 in Appendix D under section “III. Jackson Select Protector”).  In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount.  The GAWA is also likely to be reduced.  Therefore, please note
 
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that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit.
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or RMD, as applicable –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
         
      ●
Zero.
         
   
The GAWA is recalculated as follows:
         
      ●
The GAWA prior to the partial withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.

The Excess Withdrawal is defined to be the lesser of:

●
The total amount of the current partial withdrawal, Or
 
●
The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any withdrawal charges, asset allocation fees, recapture charges and other charges or adjustments.  Withdrawals may be subject to a recapture charge on any Contract Enhancement.  Withdrawals in excess of free withdrawals may be subject to a withdrawal charge.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s standard death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts, withdrawals of asset allocation and advisory fees, and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

If the age of any Owner is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age.  If the age at election of the Owner (or oldest joint Owner) falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.

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

Premiums.
 
With each subsequent Premium payment
on the Contract –
The GWB is recalculated, increasing by the amount of the Premium net of any applicable Premium taxes, plus any Contract Enhancement.
If the Premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
 
 
●
The GAWA percentage multiplied by the sum of i) the subsequent Premium payment net of any applicable Premium taxes, and  ii) any Contract Enhancement; Or
 
 
●
The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.
 
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We require prior approval for a subsequent Premium payment that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments.  The GWB can never be more than $5 million.  See Example 3b in Appendix D under section “III. Jackson Select Protector” to see how the GWB is recalculated when the $5 million maximum is hit.

Step-Up.  On each Contract Anniversary following the effective date of this GMWB, if the highest quarterly Contract Value is greater than the GWB, the GWB will be automatically re-set to the highest quarterly Contract Value (a “step-up”).  The manner in which the highest quarterly Contract Value is determined is discussed in detail further below.  (See Examples 6 and 7 in Appendix D under section “III. Jackson Select Protector”.)
 
With a step-up –
The GWB equals the highest quarterly Contract Value (subject to a $5 million maximum).
 
If the step-up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
 
 
●
The GAWA percentage multiplied by the new GWB, Or
 
 
●
The GAWA prior to step-up.
 
In addition to the above-described increase in the GWB, a step-up allows for a potential increase in the GAWA percentage in the event that the step-up occurs after the first withdrawal.  Whether there will be any such increase in the GAWA percentage will depend on a value called the Benefit Determination Baseline (BDB).

The initial BDB equals (a) the initial Premium, net of any applicable Premium taxes, plus any Contract Enhancement, if this GMWB is elected at Contract issue or (b) the Contract Value on the Contract Anniversary on which the GMWB is effective, if elected after Contract issue (subject to availability).  In the event that the highest quarterly Contract Value is greater than the BDB on a step-up, the BDB is increased to equal that highest quarterly Contract Value.  Withdrawals do not affect the BDB.  Subsequent Premium payments increase the BDB by the amount of the Premium, net of any applicable Premium taxes, plus any Contract Enhancement.  In addition, unlike the GWB, the BDB is not subject to any maximum amount.  Therefore, it is possible for the BDB to be more than $5 million.

Upon step-up, if the highest quarterly Contract Value is greater than the BDB and the step-up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the attained age of the Owner (or oldest joint Owner).  If an age band is crossed, the GAWA percentage will be increased.  For example, assume the Owner was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 5%.  Also assume that, when the Owner is age 76, a step-up occurs and the highest quarterly Contract Value is greater than the BDB; in that case, the GAWA percentage will be re-determined based on the Owner’s attained age of 76, resulting in a new GAWA percentage of 6%.

If the highest quarterly Contract Value is not greater than the BDB prior to a step-up, the BDB does not change, and the GAWA percentage also remains unchanged regardless of whether an age band has been crossed.

In addition to any increase in the GWB described above, if the highest quarterly Contract Value is greater than the BDB prior to the step-up, then the BDB is set to equal the highest quarterly Contract Value (not subject to any maximum amount); and, if the step-up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the Owner:

●      If there are joint Owners, the GAWA percentage is recalculated based on the oldest joint Owner.

●      The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation.

If the GAWA percentage is reset, the GAWA will be set to equal the greater of (a) the new GAWA percentage times the then current GWB (as adjusted by any increase therein that occurs pursuant to the same step-up) or (b) the GAWA as in effect prior to the step-up.

Regardless of when a GMWB is issued, the highest quarterly Contract Value equals the highest of the quarterly adjusted Contract Values from the four most recent Contract Quarterly Anniversaries, including the Contract Anniversary upon which the step-up is determined.  The quarterly adjusted Contract Value equals the Contract Value on the Contract Quarterly Anniversary, plus any Premium paid subsequent to that Contract Quarterly Anniversary, net of any applicable Premium taxes, plus any Contract Enhancement, adjusted for any partial withdrawals taken subsequent to that Contract Quarterly Anniversary.  When determining the quarterly adjusted Contract Value on a Contract Anniversary, the quarterly adjusted Contract Value will be determined prior to any automatic transfer, as required under this GMWB’s Transfer of Assets provision (see below), occurring on the Contract Anniversary.
 
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Partial withdrawals will affect the quarterly adjusted Contract Value as follows:
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, as applicable –
  
The quarterly adjusted Contract Value is equal to the greater of:
       
    ●
The quarterly adjusted Contract Value before the withdrawal less the withdrawal; Or
 
      ●
Zero.
 
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or RMD, as applicable –
  
The quarterly adjusted Contract Value is equal to the greater of:
       
    ●
The quarterly adjusted Contract Value prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see above), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
 
      ●
Zero.
 
 
PLEASE NOTE: Withdrawals from the Contract reduce the GWB and highest quarterly Contract Value but do not affect the BDB.  In the event of withdrawals, the BDB remains unchanged.  Therefore, because the highest quarterly Contract Value must be greater than the BDB prior to step-up in order for the GAWA percentage to increase, a GAWA percentage increase may become less likely when withdrawals are made from the Contract.

Upon step-up on or after the 2nd Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to a maximum charge of 2.34%.  You will be notified of a GMWB Charge increase 45 days prior to the Contract Anniversary and may elect to discontinue the automatic step-ups of the GWB.  Such election must be received in Good Order prior to the Contract Anniversary.  While electing to discontinue the automatic step-ups will prevent an increase in the charge, discontinuing step-ups also means foregoing possible increases in your GWB and/or GAWA; so carefully consider this decision should we notify you of a charge increase.  Also know that you may subsequently elect to reinstate the step-up provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order within 30 calendar days prior to the Contract Anniversary.

The GWB can never be more than $5 million with a step-up. However, the BDB is not subject to a $5 million maximum.  Therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum, because automatic step-ups of the BDB would continue to occur if the highest quarterly Contract Value is greater than the BDB.  For example, assume the GWB and BDB are equal to $5 million prior to a step-up.  Also assume that the GAWA percentage is 5% and the GAWA is $250,000.  If, at the time of step-up, the highest quarterly Contract Value is $6 million, a step-up will occur.  The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million.  If an age band has been crossed and the new GAWA percentage for the Owner’s attained age is 6%, then the GAWA will be equal to $300,000 (6% x $5 million).

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

Select Protector Death Benefit.  Upon the death of the Owner (or death of any joint Owner) while the Contract is still in force, the Contract’s death benefit payable is guaranteed not to be less than the Select Protector Death Benefit.  On the effective date of this GMWB endorsement, the Select Protector Death Benefit is equal to the GWB.  With each subsequent Premium received after this endorsement is effective, the Select Protector Death Benefit is recalculated to equal the Select Protector Death Benefit prior to the Premium plus the amount of the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement, subject to a maximum of $5 million.
 
Partial withdrawals will affect the Select Protector Death Benefit as follows:
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, as applicable –
  
The Select Protector Death Benefit is equal to the greater of:
       
    ●
The Select Protector Death Benefit before the withdrawal less the withdrawal; Or
 
      ●
Zero.
 
75
 
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or RMD, as applicable –
  
The Select Protector Death Benefit is equal to the greater of:
       
    ●
The Select Protector Death Benefit prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see above), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
 
      ●
Zero.
 
The Select Protector Death Benefit is not adjusted upon step-up.  The Select Protector Death Benefit will terminate on the date the Contract Value is zero and no death benefit will be payable, including this Contract’s basic death benefit or any optional death benefit (i.e., the Earnings Protection Benefit, the High Quarterly Anniversary Value Death Benefit, etc.).  The Select Protector Death Benefit will also terminate and will not be included in any applicable continuation adjustment (the amount by which the death benefit that would have been payable exceeds the Contract Value) should this GMWB be continued through Spousal Continuation of a Contract.

Transfer of Assets.  This GMWB requires automatic transfers between your elected Investment Divisions/Fixed Account Option and the GMWB Fixed Account in accordance with the non-discretionary formulas defined in the Transfer of Assets Methodology found in Appendix E.  The formulas are generally designed to mitigate the financial risks to which we are subjected by providing this GMWB’s guarantees.  By electing this GMWB, you are giving control to us of almost all or a portion of your Contract Value.  By way of the non-discretionary formulas, we determine whether to make a transfer and the amount of any transfer.

Under this automatic transfer provision, we monitor your Contract Value each Contract Monthly Anniversary and, if necessary, systematically transfer amounts between your elected Investment Divisions/1-year Fixed Account Option and the GMWB Fixed Account.  Amounts transferred to the GMWB Fixed Account will be transferred from each Investment Division/1-year Fixed Account Option in proportion to their current value. Please be aware that the 3, 5 and 7-year Fixed Account Options are not available on Contracts that elect this benefit.  Transfers to the GMWB Fixed Account from the 1-year Fixed Account Option are not subject to an Excess Interest Adjustment.

Generally, automatic transfers to the GMWB Fixed Account from your elected Investment Divisions/Fixed Account Option will occur when your Contract Value declines due to withdrawals or negative investment returns.  However, there may be an automatic transfer to the GMWB Fixed Account even when you experience positive investment returns if your Contract Value does not sufficiently increase relative to the projected value of the benefits, as reflected in the use of the GAWA and annuity factors in the Liability calculation under the Transfer of Assets Methodology (see Appendix E for the Liability formula, the calculation of which is designed to represent the projected value of this GMWB’s benefits).  In other words, any increase in the GAWA (due to, for example, a Premium payment or a step-up) may also cause an automatic transfer to the GMWB Fixed Account from your elected Investment Divisions/Fixed Account Option.

For an example of how this Transfer of Assets provision and the non-discretionary formulas work, let us assume that, on your first Contract Monthly Anniversary, your annuity factor is 15.26, your GAWA is $6,000, your GMWB Fixed Account Contract Value is $0, your Separate Account Contract Value is $95,000 and your Fixed Account Contract Value is $5,000.  Your Liability would then be $91,560, which is your GAWA multiplied by your annuity factor.  Using the Liability amount, a ratio is then calculated that determines whether a transfer is necessary.  Generally, if the ratio is lower than 77%, funds will be transferred from the GMWB Fixed Account.  If the ratio is more than 83%, then funds are transferred to the GMWB Fixed Account.

In this example, the ratio is 91.56%, which is the Liability amount ($91,560) minus any GMWB Fixed Account Contract Value ($0), then divided by the sum of the Separate Account Contract Value ($95,000) and the Fixed Account Contract Value ($5,000).  Since the ratio is more than the 83%, funds are transferred to the GMWB Fixed Account from the Investment Divisions and the Fixed Account.

Regarding the amount to be transferred when the ratio is above 83%, the amount is determined by taking the lesser of (a) the Separate Account Value plus the Fixed Account Contract Value; or (b) the Liability amount minus the GMWB Fixed Account Contract Value, less 80% of the Separate Account Value and the Fixed Account Contract Value, divided by 20% (1-80%).  Applying this calculation to our example, (a) would be $100,000 [$95,000 + $5,000] and (b) would be $57,800 [($91,560 - $0 - 0.80*($95,000 + $5,000)) / (1 - .80)] (so the lesser of the two) and, therefore, the amount transferred to the GMWB Fixed Account is $57,800.

To determine how much of the $57,800 transfer is taken from the Fixed Account and how much from the Investment Divisions, we multiply the transfer amount by the proportion of the Contract Value in each the Fixed Account and the Investment Divisions before the transfer.  That is, of the $100,000 total Contract Value in our example, 5% of it was in the Fixed Account ($5,000 /$100,000) and 95% of it was in the Investment Divisions ($95,000/$100,000); therefore, $2,890 ($57,800 multiplied by 5%) is transferred from the
 
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Fixed Account to the GMWB Fixed Account and $54,910 ($57,800 multiplied by 95%) is transferred from the Investment Divisions to the GMWB Fixed Account.  After the transfer in this example, the GMWB Fixed Account Contract Value is $57,800, the Separate Account Contract Value is $40,090 and the Fixed Account Contract Value is $2,110.

If any transfer indicated by the above procedure would result in the GMWB Fixed Account Value exceeding 90% of the Contract Value, then the actual transfer will be such that exactly 90% of the Contract Value is allocated to the GMWB Fixed Account.  Otherwise, the indicated transfer will be the actual transfer.  For more information regarding the example above and to see this Transfer of Assets Provision applied using other assumptions, please see Example 9 in Appendix D under section “III. Jackson Select Protector”.  Please also see the Transfer of Assets Methodology in Appendix E, which contains the non-discretionary formulas.

Converse to the above example, automatic transfers from the GMWB Fixed Account into your elected Investment Divisions/Fixed Account Option will occur when you experience sufficient positive investment returns such that your Contract Value increases sufficiently relative to the Liability amount. Using the formulas in the above example, this would occur when the calculated ratio is less than 77%. For an example using assumptions that result in a ratio less than 77%, please see Example 9b in Appendix D under section “III. Jackson Select Protector”.

By electing this GMWB, it is possible that a significant amount of your Contract Value – possibly 90% of your entire Contract Value – may be transferred to the GMWB Fixed Account.  It is also possible that amounts in the GMWB Fixed Account will never be transferred back to your elected Investment Divisions/Fixed Account Option.  If any of your Contract Value is automatically transferred to and held in the GMWB Fixed Account, less of your Contract Value may be allocated to the Investment Divisions, which will limit your participation in any market gains and limit the potential for any step-ups and increases in your GAWA.  If you are uncomfortable with the possibility of some or almost all of your Contract Value being automatically moved into the GMWB Fixed Account, this particular GMWB may not be appropriate for you.

Amounts transferred from the GMWB Fixed Account will be allocated to the Investment Divisions and Fixed Account Option according to your most recent allocation instructions on file with us.  The automatic transfers under this Transfer of Assets provision will not count against the 15 free transfers in a Contract Year.  No adjustment will be made to the GWB, GAWA, BDB, or Select Protector Death Benefit as a result of these transfers.  You will receive a confirmation statement reflecting the automatic transfer of any Contract Value to and from the GMWB Fixed Account.

Once you purchase your Contract, the non-discretionary formulas are fixed and not subject to change.  However, we reserve the right to change the formulas for Contracts issued in the future.

Guaranteed Minimum Withdrawal Benefit Fixed Account.  A certain percentage of the value in your Contract, as explained above, may be allocated to the GMWB Fixed Account in accordance with non-discretionary formulas.  You may not allocate additional monies to the GMWB Fixed Account.  The Contract Value in the GMWB Fixed Account is credited with a specific interest rate.  The interest rate initially declared for each transfer to the GMWB Fixed Account will remain in effect for a period of not less than one year.  GMWB Fixed Account interest rates for subsequent periods may be higher or lower than the rates previously declared.  The interest rate is credited daily to the Contract Value in the GMWB Fixed Account and the rate may vary by state but will never be less than the Fixed Account minimum interest rate applicable to the Contract, as discussed under “THE FIXED ACCOUNT AND THE GMWB FIXED ACCOUNT” beginning on page 13.  Please contact us at the Annuity Service Center or contact your representative to obtain the currently declared GMWB Fixed Account interest rate for your state.  Our contact information is on the cover page of this prospectus.

Contract charges deducted from the Fixed Account and Investment Divisions are also deducted from the GMWB Fixed Account in accordance with your Contract’s provisions.  The deduction of charges may cause an automatic transfer under the Transfer of Assets provision. DCA, DCA+, Earnings Sweep and Automatic Rebalancing are not available to or from the GMWB Fixed Account.  There is no Excess Interest Adjustment on transfers, withdrawals or deductions from the GMWB Fixed Account.  Transfers to and from the GMWB Fixed Account are automatic; you may not choose to transfer amounts to and from the GMWB Fixed Account.

Contract Value Is Zero.  With this GMWB, in the event the Contract Value is zero, the Owner will receive annual payments of the GAWA until the death of the Owner (or the death of any joint Owner), so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase.  If the For Life Guarantee is not in effect, the Owner will receive annual payments of the GAWA until the earlier of the death of the Owner (or the death of any joint Owner) or the date the GWB, if any, is depleted, so long as the Contract is still in the accumulation phase.  The last payment will not exceed the remaining GWB at the time of payment.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner’s (or oldest joint Owner’s) attained age at the time the Contract Value falls to zero and the GAWA will be equal to the GAWA percentage multiplied to the GWB.
 
77
 
         
After each payment when the Contract Value is zero –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the payment less the payment; Or
 
    ●
Zero.
 
 
The GAWA is unchanged. At the end of each Contract Year, if the GWB is less than the GAWA and the For Life Guarantee is not in effect, the GAWA is set equal to the GWB.
 
Payments are made on the periodic basis you elect, but no less frequently than annually.  If you die, all rights under your Contract cease.  No subsequent Premium payments will be accepted.  All optional endorsements terminate without value.  And no death benefit is payable, including the Select Protector Death Benefit and the Earnings Protection Benefit.

Spousal Continuation.  In the event of the Owner’s death (or the first Owner’s death with joint Owners), the Beneficiary who is the Owner’s spouse may elect to:
 
●
Continue the Contract with this GMWB – so long as the Contract Value is greater than zero, and the Contract is still in the accumulation phase.  (The date the spousal Beneficiary’s election to continue the Contract is in Good Order is called the Continuation Date.)
 
   
○
Upon the Owner’s death, the For Life Guarantee is void.
 
   
○
Only the GWB is payable while there is value to it (until depleted).
 
   
○
The Select Protector Death Benefit is void and will not be included in the continuation adjustment.
 
   
○
Step-ups will continue as permitted in accordance with the step-up rules above.
 
   
○
Contract Anniversaries will continue to be based on the Contract’s Issue Date.
 
   
○
The Liability factors for the transfer of assets formulas (see Appendix E) will continue to be based on the original Owner’s (or oldest joint Owner’s) attained age (as if that person had survived).
 
   
○
If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the Owner’s (or oldest joint Owner’s) attained age at the time of death.
 
   
○
The Latest Income Date is based on the age of the surviving spouse.  Please refer to the “Annuitization” subsection below for information regarding the availability of the “Specified Period Income of the GAWA” option if the GWB has been continued by a spousal Beneficiary upon the death of the original Owner.
 
   
○
The spousal Beneficiary may terminate the GMWB on any subsequent Contract Anniversary.
 
●
Continue the Contract without this GMWB (GMWB is terminated).  Thereafter, no GMWB charge will be assessed.
 
   
○
The Select Protector Death Benefit will be included in the calculation of the continuation adjustment.
 
   
○
The GMWB Fixed Account value will be transferred to the Investment Divisions and Fixed Account Option based on the current Premium allocation for the Contract.
 
 
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●
Add this GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the Beneficiary’s eligibility – whether or not the spousal Beneficiary terminated the GMWB in continuing the Contract.
 
For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 144.

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

●
The Contract Anniversary following the Company’s receipt of the Owner’s written request for termination in Good Order if the request is made within 30 calendar days prior to the Contract Anniversary;
 
●
The Income Date;
 
●
The date of complete withdrawal of Contract Value (full surrender of the Contract);
 
●
Conversion of this GMWB (if conversion is permitted);
 
●
The date of the Owner’s death (or the first Owner’s death with joint Owners), unless the Beneficiary who is the Owner’s spouse elects to continue the Contract with the GMWB;
 
●
The Continuation Date if the spousal Beneficiary elects to continue the Contract without the GMWB; or
 
●
The date all obligations under this GMWB are satisfied after the Contract has been terminated.

If this GMWB is terminated and the Contract remains in force, the GMWB Fixed Account value will be transferred to the Investment Divisions and Fixed Account Option based on the current Premium allocation for the Contract.

Annuitization.

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

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

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

This income option provides payments in a fixed dollar amount for a specific number of years.  The actual number of years that payments will be made is determined on the calculation date by dividing the GWB by the GAWA.  Upon each payment, the GWB will be reduced by the payment amount.  The total annual amount payable will equal the GAWA but will never exceed the current GWB.  This annualized amount will be paid over the specific number of years in the frequency (no less frequently than annually) that the Owner selects.  If the Owner should die before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.
 
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The “Specified Period Income of the GAWA” income option may not be available if the Contract is issued to qualify under Sections 401, 403, 408 or 457 of the Internal Revenue Code.  For such Contracts, this income option will only be available if the guaranteed period is less than the life expectancy of the spouse at the time the option becomes effective.

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 57 for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

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

For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount (“LifeGuard Freedom 6 Net”).

This Guaranteed Minimum Withdrawal Benefit (GMWB) guarantees the withdrawal of a minimum annual amount for the duration of the life of the Owner (or, in the case of joint Owners, until the death of the first Owner to die) regardless of the performance of the underlying investment options, subject to the conditions described below.  This benefit may be appropriate for those individuals who are looking for a number of features, within a GMWB, that may offer a higher level of guarantee and who are seeking greater access to earnings to provide more income when the Contract performs well, without negatively impacting the guarantees.  By allowing the Owner to add earnings to the amount of otherwise permissible withdrawals, referred to below as the Earnings-Sensitive Adjustment, he or she has the potential to take greater withdrawals and to receive the same after-tax withdrawal amount every Contract Year (assuming a 40% tax rate).

The following descriptions of this GMWB’s features are supplemented by a basic example below and the examples in Appendix D under section “IV.  LifeGuard Freedom 6 Net”.  The guarantees of this GMWB are subject to the endorsement’s terms, conditions, and limitations that are explained below.  Please consult the representative who is helping you purchase your Contract to be sure that this GMWB ultimately suits your needs.

This GMWB guarantees withdrawals during the Contract’s accumulation phase (i.e., before the Income Date), subject to the following:

●
This guarantee lasts for the duration of the Owner’s life (the “For Life Guarantee”) if the For Life Guarantee is in effect;
 
   
The For Life Guarantee is based on the life of the single Owner or the first Owner to die if there are joint Owners.  There are also other GMWB options for joint Owners that are spouses, as described below.
 
For the Owner that is a legal entity, the For Life Guarantee is based on the Annuitant’s life (or the life of the first Annuitant to die if there is more than one Annuitant).
 
   
The For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the Owner (or with joint Owners, the oldest Owner) attaining the age of 59 1/2.  If the Owner (or oldest Owner) is 59 1/2 years old or older on the endorsement’s effective date, then the For Life Guarantee is effective when this GMWB is added to the Contract.
 
If the For Life Guarantee is in effect, it will be terminated if a withdrawal exceeds the permissible amounts and reduces the Contract Value to zero. (Please see the “Contract Value is Zero” subsection below to understand what happens when the Contract Value is reduced to zero.)  Otherwise, the For Life Guarantee remains effective until the date this GMWB endorsement is terminated or until the Continuation Date on which this GMWB endorsement is continued under spousal continuation.  Please see the “Termination” subsection below to understand under what conditions this GMWB endorsement and, accordingly, the For Life Guarantee can be terminated.
 
   
In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee.  See “Contract Value is Zero” below for more information.
 
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●
If the For Life Guarantee is not in effect, the guarantee lasts until the earlier of (1) the date of death of the Owner (or any joint Owner) or (2) the date when all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.
 
   
The GWB is the guaranteed amount available for future periodic withdrawals.
 
   
In the event of the Owner’s death, a spousal Beneficiary may continue this GMWB endorsement under spousal continuation.  In that event, the GWB is payable until depleted.  (Please see the “Spousal Continuation” subsection below for more information.)  If the Beneficiary is a non-spousal Beneficiary, the GWB is void and this endorsement is terminated; therefore, the Owner’s death may have a significant negative impact on the value of this GMWB endorsement and cause the endorsement to prematurely terminate.

There is a limit on withdrawals each Contract Year to keep the guarantees of this GMWB in full effect – the greater of the Guaranteed Annual Withdrawal Amount (GAWA) or, for certain tax-qualified Contracts, the required minimum distribution (RMD), plus the Earnings-Sensitive Adjustments during a Contract Year, if any.  Please see “Withdrawals” below for more information about the GAWA and Earnings-Sensitive Adjustments. The withdrawals that exceed the limit are referred to as “Excess Withdrawals”, as further described below, while those that do not exceed the limit are referred to as “permissible withdrawals” or “permissible amounts.”

This GMWB is available to Owners 35 to 80 years old (proof of age is required); may be added to a Contract on the Issue Date or on any Contract Anniversary; and once added cannot be canceled except by a Beneficiary who is the Owner’s spouse, who, upon the Owner’s death, may elect to continue the Contract without the GMWB.  If you want to elect this GMWB after the Contract Issue Date on a Contract Anniversary (subject to availability), we must receive a request in Good Order within 30 calendar days prior to the Contract Anniversary.   We allow ownership changes of a Contract with this GMWB (i) from an individual Owner that is a natural person to a trust, if that individual and the Annuitant are the same person or (ii) when the Owner is a legal entity, to another legal entity or the Annuitant.  However, we do not allow these Ownership changes if they are a taxable event under the Code.  In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not described above as a permitted change will result in termination of the GMWB. Otherwise, ownership changes are not allowed.  When the Owner is a legal entity, changing Annuitants is not allowed.  Availability of this GMWB may be subject to further limitation.

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

When this GMWB is added to the Contract
on the Issue Date –
The GWB equals initial Premium net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancement.
 
The GAWA is determined based on the Owner’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the withdrawal.  See the GAWA percentage table below.


When this GMWB is added to the Contract
on any Contract Anniversary ,
subject to availability –
The GWB equals Contract Value, minus (for endorsements issued on or after April 29, 2013) any recapture charges that would be assessed on a full withdrawal.
 
The GAWA is determined based on the Owner’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the withdrawal.  See the GAWA percentage table below.

For endorsements issued on or after April 29, 2013, Contract Enhancements and the corresponding recapture charges are not included in the calculation of the GWB when this GMWB is added to the Contract on the Issue Date.  This is why Premium (net of any applicable Premium taxes) is used to calculate the GWB.  On Contracts with a Contract Enhancement, the result is a GWB that is less than Contract Value when this GMWB is added to the Contract.  For endorsements issued before April 29, 2013, please note that while Contract Enhancements are effectively included in the GWB calculations at and after issue, potential recapture charges are not included at either time.  (See Examples 1 and 2 in Appendix D under section “IV.  LifeGuard Freedom 6 Net”.)
 
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The GWB can never be more than $5 million (including upon step-up, the application of a GWB adjustment or the application of any bonus), and the GWB is reduced by each withdrawal.

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

There are five different GAWA% tables that may be available, each of which provides different GAWA percentages with different charges. The GAWA% tables, listed from the table offering the lowest GAWA percentages for each age group to the table offering the highest GAWA percentages for each age group, are: the Income Stream Level 1 GAWA% Table; the Income Stream Level 2 GAWA% Table; the Income Stream Level 3 GAWA% Table; the Income Stream Level 4 GAWA% Table; and the Income Stream Level 5 GAWA% Table. We reserve the right to prospectively restrict the availability of the GAWA% tables.  Therefore, not all GAWA% tables may be available at the time you are interested in electing this GMWB. Please contact your representative, or contact us at our Annuity Service Center, for information regarding the current availability of the GAWA% tables.

The GAWA percentages for each age group, depending on which GAWA% table you elect, are as follows:

For Endorsements Issued On Or After September 15, 2014:

Ages
Income Stream
Level 1
GAWA% Table
Income Stream
Level 2
GAWA% Table
Income Stream
Level 3
GAWA% Table
Income Stream
Level 4
GAWA% Table
Income Stream
Level 5
GAWA% Table
35 – 64
3.00%
3.25%
3.50%
3.75%
4.00%
65 – 74
4.00%
4.25%
4.50%
4.75%
5.00%
75 – 80
4.50%
4.75%
5.00%
5.25%
5.50%
81+
5.00%
5.25%
5.50%
5.75%
6.00%
 
If your endorsement was issued before September 15, 2014, different GAWA percentages than those reflected in the above table may apply. Please refer to your Contract endorsement and the related prospectus disclosure for the GAWA percentages applicable under your Contract at the time of purchase. If you need assistance finding this information, please contact your representative, or contact us at our Annuity Service Center. Our contact information is on the first page of the prospectus.

We reserve the right to prospectively change the GAWA percentages, including the age bands, on new GMWB endorsements.  We recommend you check with your  representative to learn about the current level of the GAWA percentages, or contact us at our Annuity Service Center for more information.  Our contact information is on the first page of the prospectus. If we change the GAWA percentages described above, we will follow these procedures:
1) When we issue your Contract we will deliver a copy of the prospectus that includes the notice of change of GAWA percentages in the form of a prospectus update to you.  You will have until the end of the Free Look period to cancel your Contract and this GMWB by returning the Contract to us pursuant to the provisions of the Free Look section (please see “Free Look” on page 149).
2) If you are an existing Owner and are eligible to elect this GMWB after the Issue Date, at the time we change the GAWA percentages we will send you the notice of change of GAWA percentages in the form of a prospectus update. If you later elect this GMWB, when we receive your election, we will send you the required endorsement with a duplicate notice of change of GAWA percentages. You will have 30 days after receiving the notice to cancel your election of this GMWB by returning the endorsement to us.
In each case, the actual GAWA percentages will be reflected in your Contract endorsement.

In connection with a change of GAWA percentages, as described above, we may continue to offer the existing GAWA percentages, in effect prior to the change, as an Optional GAWA% table at an increased charge. The increased charge for this GMWB will not be greater than the maximum annual charge shown in the charge tables, which in no event exceeds 3.00%. For the charges for each GMWB, please see the section for the applicable GMWB appearing under “Contract Charges” beginning on page 30. Also, please see the “Optional Endorsements” table under the “FEES AND EXPENSES TABLES” beginning on page 4. The Optional GAWA% table will maintain the GAWA percentages for each age group that were available before the change as reflected in the above table.  If we offer the Optional GAWA% table, the notice of change in the form of a prospectus update, that will be delivered to you, will describe both the change to the GAWA percentages, and the Optional GAWA% table and related charges. We reserve the right to prospectively change the GAWA percentages in the Optional GAWA% table, including the age bands, on new GMWB endorsements subject to the notices and procedures described above.

Withdrawals cause the GWB to be recalculated.  Withdrawals will also cause the GAWA to be recalculated if the withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or, for certain tax-qualified Contracts only, the RMD, plus the Earnings-Sensitive Adjustments during that Contract Year, if any.  In such case, the recalculation of the GAWA will
 
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occur whether or not the For Life Guarantee is in effect.  If the GWB is less than the GAWA at the end of any Contract Year and the For Life Guarantee is not in effect, the GAWA will be set equal to the GWB.  This may occur, when over time, payment of the guaranteed withdrawals is nearly complete, the For Life Guarantee is not in effect and the GWB has been depleted to a level below the GAWA. The tables below clarify what happens in each instance.  (Example 14 in Appendix D under section “IV. LifeGuard Freedom 6 Net” demonstrates how withdrawals affect this GMWB’s guaranteed values).  In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee.  See “Contract Value is Zero” below for more information.

(RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only.  There is no RMD for non-qualified Contracts.  For certain tax-qualified Contracts, this GMWB allows withdrawals greater than the GAWA plus the Earnings-Sensitive Adjustments during that Contract Year, if any, to meet the Contract’s RMD (when the RMD is higher than the GAWA) without compromising the endorsement’s guarantees. Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, please see “RMD NOTES” under “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” on page 57, for more information.)
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, plus the
Earnings- Sensitive Adjustments
during that Contract Year, if any –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the withdrawal less the withdrawal; Or
 
    ●
Zero.
 
 
The GAWA is unchanged.
 
The GAWA is not reduced if all withdrawals during any one Contract Year do not exceed the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments during that Contract Year, if any. The GAWA will be reduced at the end of a Contract Year to equal the GWB if the For Life Guarantee is not in effect and the GWB is nearly depleted, resulting in a GWB that is less than the GAWA.  You may withdraw the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments during that Contract Year, if any, all at once or throughout the Contract Year.  Withdrawing less than the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments, in the next Contract Year.  The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.

Withdrawing more than the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments, if any, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 14c in Appendix D under section “IV. LifeGuard Freedom 6 Net”).  In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount.  The GAWA is also likely to be reduced.  Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, plus the Earnings-Sensitive Adjustments, if any, in a Contract Year may have a significantly negative impact on the value of this benefit.
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or RMD,  plus the Earnings-Sensitive
Adjustments during that Contract Year, if any –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB prior to the withdrawal, first reduced dollar-for-dollar for any portion of the withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
 
      ●
Zero.
         
   
The GAWA is recalculated as follows:
         
      ●
The GAWA prior to the withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.
 
The Excess Withdrawal is defined to be the lesser of:
●
The total amount of the current withdrawal, or
 
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●
The amount by which the cumulative withdrawals for the current Contract Year (including the current withdrawal) exceeds the greater of the GAWA or the RMD, plus the Earnings-Sensitive Adjustments during that Contract Year, if any.

How the Earnings-Sensitive Adjustment works:  As previously stated, the Earnings-Sensitive Adjustment is an amount that the Owner may be allowed to withdraw each Contract Year in addition to the GAWA while keeping the guarantees of this GMWB fully effective.  An Earnings-Sensitive Adjustment calculation is done for each withdrawal taken and the amount, if any, depends on the withdrawal amount and the GMWB Earnings at the time of the withdrawal.  A withdrawal under the Contract that includes an Earnings-Sensitive Adjustment will reduce Contract Value and other values in the same manner as any other withdrawal.

When determining the amount of permissible withdrawals, the formula for this GMWB takes into account two additional factors in computing the Earnings-Sensitive Adjustment (the additional permissible amount attributable to earnings) after all the other standard values such as the GAWA and GWB used in all GMWB endorsements are determined.  The Guaranteed Withdrawal Balance Adjustment is also determined in the same manner without any special computational factors.  Thus, this GMWB is similar to all other GMWBs except with regard to calculating the amount of permissible withdrawals.

The first concept used is the Maximum Eligible Withdrawal Amount Remaining (MEWAR), which is the maximum withdrawal amount (before the application of any Earnings-Sensitive Adjustment) that is eligible for the Earnings-Sensitive Adjustment at a given time.  At any time, the MEWAR is the greater of:
 
 
1.
Zero; or
 
2.
The amount equal to:
   
a.
the amount of previous Earnings-Sensitive Adjustments in the current Contract Year; plus,
   
b.
the greater of the GAWA or the RMD; less
    c.
all withdrawals previously made in the current Contract Year, including Earnings-Sensitive Adjustments.
 
The second concept relates to determining what the eligible earnings (GMWB Earnings) were. This involves a calculation that provides that at any time, GMWB Earnings are the greater of:
 
 
1.
Zero; or
 
2.
The Contract Value minus the GMWB Earnings Determination Baseline.

The GMWB Earnings Determination Baseline is determined as follows:  If this GMWB is elected on the Contract’s Issue Date, the GMWB Earnings Determination Baseline is equal to the Premium, net of any applicable Premium taxes.  If this GMWB is elected on any Contract Anniversary, the GMWB Earnings Determination Baseline is equal to Contract Value less any recapture charges that would be assessed on a full withdrawal.

With each subsequent Premium received after the Contract Issue Date, the GMWB Earnings Determination Baseline is recalculated to equal the GMWB Earnings Determination Baseline prior to the Premium payment plus the amount of the Premium payment, net of any applicable Premium taxes.

With each withdrawal, the GMWB Earnings Determination Baseline is recalculated to equal the greater of:
 
 
1.
Zero; or
 
2.
GMWB Earnings Determination Baseline prior to the withdrawal less the greater of:
   
a.
the withdrawal amount less the GMWB Earnings at the time of the withdrawal; or
   
b.
zero.
 
In determining the GMWB Earnings and the GMWB Earnings Determination Baseline, the formulas utilize the greater of zero, which serves to limit negative earnings results from affecting the calculations.

Withdrawals exceeding the permissible amount do not invalidate the For Life Guarantee if the Contract Value remains greater than zero, but cause the GWB and GAWA to be recalculated.

Earnings-Sensitive Adjustment as applied:

If the For Life Guarantee is in effect at the time of the withdrawal, the Earnings-Sensitive Adjustment is equal to the lesser of:
1.
40% of the GMWB Earnings at the time of the withdrawal; or

2.
2/3 of the lesser of the MEWAR and the withdrawal amount prior to any Earnings-Sensitive Adjustment.
 
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If the For Life Guarantee is not in effect at the time of the withdrawal, the Earnings-Sensitive Adjustment is equal to the lesser of:
 
 
1.
40% of the GMWB Earnings at the time of withdrawal;
     
 
2.
2/3 of the lesser of the MEWAR and the withdrawal amount prior to any Earnings-Sensitive Adjustment; or
     
  3.
The greater of:
   
a.
zero; or
   
b.
the GWB less the MEWAR.

Example:  For an example of a contract that makes basic simple assumptions to show how this Earnings-Sensitive Adjustment provision and its various components (i.e., GMWB Earnings, MEWAR, GMWB Earnings Determination Baseline, etc.) work, assume that you request the maximum permissible withdrawal, including an Earnings Sensitive Adjustment, if any.  At the time of your withdrawal request, also assume that:

●     You are age 65
●     You have a non-qualified Contract (so there is no applicable RMD)
●     Your initial Premium payment was $100,000
●     You have not made any additional Premium payments or any
●     The For Life Guarantee is in effect
withdrawals in the prior Contract Years or the current Contract Year
●     Your GWB is $100,000
●     Your GAWA percentage is 5%
●     Your GAWA is $5,000
●     Your Contract Value is $108,000
 
Your GMWB Earnings Determination Baseline prior to the withdrawal is equal to your initial sole Premium payment of  $100,000.  Since you have not taken other withdrawals and, therefore, there have been no previous Earnings-Sensitive Adjustments during the current Contract Year, the MEWAR is $5,000 (which is the greater of: zero, or the Earnings-Sensitive Adjustments thus far in the current Contract Year ($0) plus the GAWA ($5,000) less all partial withdrawals thus far in the current Contract year ($0)) ($0 + $5,000 - $0 = $5,000).  As there have been no previous withdrawals taken in the current Contract Year, the MEWAR in this example equals the GAWA.

Your GMWB Earnings in this example are equal to $8,000, which is the greater of: zero, or your Contract Value less your GMWB Earnings Determination Baseline ($108,000 - $100,000 = $8,000).  The Earnings-Sensitive Adjustment is equal to $3,200, which is the lesser of two amounts: $3,200, which is equal to 40% of the GMWB Earnings (0.40 * $8,000 = $3,200); and $3,333, which is equal to 2/3 of the lesser of the MEWAR and the withdrawal amount prior to the Earnings-Sensitive Adjustment (2/3 * $5,000 = $3,333).  The total withdrawal amount requested in this example, therefore, is $8,200, which is the GAWA plus the Earnings-Sensitive Adjustment ($5,000 + $3,200 = $8,200).

Going forward adjustments are made to your various GMWB values and demonstrated by using the same assumptions as this example. Your Contract Value after the withdrawal is equal to $99,800, which is the Contract Value prior to the withdrawal less the total withdrawal amount ($108,000 - $8,200 = $99,800).  Your GMWB Earnings Determination Baseline after the withdrawal is also equal to $99,800, which is the GMWB Earnings Determination Baseline prior to the withdrawal ($100,000) reduced by the greater of: the withdrawal amount in excess of the GMWB Earnings ($8,200 - $8,000 = $200), or zero.  Your MEWAR after the withdrawal is equal to $0, which is the greater of: zero, or the Earnings-Sensitive Adjustments thus far in the current Contract Year plus the GAWA less all withdrawals thus far in the current Contract Year ($3,200 + $5,000 - $8,200 = 0).  Your GWB after the withdrawal is equal to $91,800, which is the GWB before the withdrawal less the total withdrawal ($100,000 - $8,200 = $91,800).

Since the total withdrawals for the year do not exceed the GAWA ($5,000) plus the total Earnings-Sensitive Adjustments for the current Contract Year ($3,200), no proportional reduction applies to your GWB for this withdrawal.  In addition, since the total withdrawals for the year do not exceed the GAWA ($5,000) plus the total Earnings-Sensitive Adjustments for the current Contract Year ($3,200), your GAWA is unchanged after the withdrawal.

For more examples showing how the Earnings-Sensitive Adjustment provision works, including an example involving an Excess Withdrawal, please see Example 14 in Appendix D under section “IV.  LifeGuard Freedom 6 Net”.

More on Withdrawals:  Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any withdrawal charges, recapture charges and other charges or adjustments.  Any withdrawals from Contract Value allocated to a Fixed Account Option may be subject to an Excess Interest Adjustment.  For more information, please see “THE FIXED ACCOUNT AND GMWB FIXED ACCOUNT” beginning on page 13.  Withdrawals may be subject to a recapture charge on any Contract Enhancement.  Withdrawals in excess of free withdrawals may be subject to a withdrawal charge.

Withdrawals under this GMWB are considered the same as any other withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts, withdrawals of
 
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asset allocation and advisory fees, and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

If the age of any Owner is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age.  Any future GAWA percentage recalculation will be based on the correct age.  If the age at election of the Owner (or oldest joint Owner) falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.

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

Guaranteed Withdrawal Balance Adjustment.  If no withdrawals are taken from the Contract on or prior to the GWB Adjustment Date (as defined below), then you will receive a GWB adjustment.  Tax-qualified plan Contract owners should consider the impact of Required Minimum Distributions on this benefit since any withdrawal from the Contract will void the GWB adjustment.

The GWB Adjustment Date is the later of:
●
The Contract Anniversary on or immediately following the Owner’s (or oldest joint Owner’s) 70th birthday, Or
 
●
The 12th  Contract Anniversary (10th Contract Anniversary for endorsements issued before April 29, 2013) following the effective date of this endorsement.

The GWB adjustment is determined as follows:
●
On the effective date of this endorsement, the GWB adjustment is equal to 200% of the GWB, subject to a maximum of $5,000,000.

●
With each subsequent Premium received after this GMWB is effective and prior to the first Contract Anniversary following this GMWB’s effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the Premium payment plus 200% of the amount of the Premium payment, net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancement -- subject to a maximum of $5,000,000.  (See Examples 4 and 5 in Appendix D under section “IV.  LifeGuard Freedom 6 Net”.)

●
With each subsequent Premium received on or after the first Contract Anniversary following this GMWB’s effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the Premium payment plus the amount of the Premium payment, net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancement -- subject to a maximum of $5,000,000.  (See Examples 4 and 5 in Appendix D under section “IV.  LifeGuard Freedom 6 Net”.)

If no withdrawals are taken on or prior to the GWB Adjustment Date, the GWB will be re-set on that date to equal the greater of the current GWB or the GWB adjustment.  No adjustments are made to the Bonus Base, the GMWB Earnings Determination Baseline or the Benefit Determination Baseline (explained below under “Step-up”).  Once the GWB is re-set, this GWB adjustment provision terminates.  In addition, if a withdrawal is taken on or before the GWB Adjustment Date, this GWB adjustment provision terminates without value.  (Please see example 13 in Appendix D under section “IV.  LifeGuard Freedom 6 Net”  for an illustration of this GWB adjustment provision.)

Premiums.
         
With each subsequent Premium payment on the Contract –
  
The GWB is recalculated, increasing by the amount of the Premium net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancement.
 
If the Premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
       
    ●
The GAWA percentage multiplied by the sum of i) the subsequent Premium payment net of any applicable Premium taxes, and ii) (for endorsements issued before April 29, 2013) any Contract Enhancement; Or
 
      ●
The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.
 
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We require prior approval for a subsequent Premium payment that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments.  The GWB can never be more than $5 million.  See Examples 4b and 5b in Appendix D under section “IV.  LifeGuard Freedom 6 Net” to see how the GWB is recalculated when the $5 million maximum is hit.

Step-Up.  On each Contract Anniversary following the effective date of this GMWB, if the Contract Value is greater than the GWB, the GWB will be automatically re-set to the Contract Value (a “step-up”). (See Examples 8 and 9 in Appendix D under section “IV.  LifeGuard Freedom 6 Net”.)

In addition to an increase in the GWB, a step-up allows for a potential increase in the GAWA percentage in the event that the step-up occurs after the first withdrawal.  The value used to determine whether the GAWA percentage will increase upon step-up is called the Benefit Determination Baseline (BDB).  If this GMWB is elected on the Contract’s Issue Date, the BDB equals initial Premium net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancement.  If this GMWB is elected on any Contract Anniversary, the BDB equals Contract Value less (for endorsements issued on or after April 29, 2013) any recapture charges that would be assessed on a full withdrawal.

Upon step-up, if the Contract Value is greater than the BDB and the step-up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the Owner’s attained age.  If an age band is crossed, the GAWA percentage will be increased.  For example, assume an Owner was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 4.75% (assuming Income Stream Level 4 was elected) .  Also assume that, when the Owner is age 76, a step-up occurs and the Contract Value is greater than the BDB; in that case, the GAWA percentage will be re-determined based on the Owner’s attained age of 76, resulting in a new GAWA percentage of 5.25%.

Upon step-up, if the Contract Value is not greater than the BDB, the GAWA percentage remains unchanged regardless of whether an age band has been crossed.

In the event that the Contract Value is greater than the BDB, the BDB is set equal to the Contract Value.  The purpose of this re-set is to increase the BDB that will be used to determine whether the GAWA percentage will increase upon a future step-up if an age band is crossed.

Withdrawals do not affect the BDB.  Subsequent Premium payments increase the BDB by the amount of the Premium net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancement.  In addition, unlike the GWB, the BDB is not subject to any maximum amount.  Therefore, it is possible for the BDB to be more than $5 million.
 
87
 
         
With a step-up –
  
The GWB equals the Contract Value (subject to a $5 million maximum).
 
If the Contract Value is greater than the BDB prior to the step-up, then the BDB is set to equal the Contract Value (not subject to any maximum amount); and, if the step-up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the Owner.
       
    ●
If there are joint Owners, the GAWA percentage is recalculated based on the oldest joint Owner.
         
      ●
The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation.
         
   
For all Contracts to which this GMWB is added, if the step-up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
         
      ●
The GAWA percentage multiplied by the new GWB, Or
 
      ●
The GAWA prior to step-up.
 
PLEASE NOTE: Withdrawals from the Contract reduce the GWB and Contract Value but do not affect the BDB.  In the event of withdrawals, the BDB remains unchanged.  Therefore, because the Contract Value must be greater than the BDB prior to step-up in order for the GAWA percentage to increase, a GAWA percentage increase may become less likely when continuing withdrawals are made from the Contract.

Upon step-up on or after the 2nd Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to the applicable maximum annual charge. You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups.  Such election must be received in Good Order prior to the Contract Anniversary.  Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus.  While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  (Please see the “Bonus” subsection below for more information.)  Also know that you may subsequently elect to reinstate the step-up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The GWB can never be more than $5 million with a step-up. However, the BDB is not subject to a $5 million maximum; therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum because automatic step-ups still occur if the Contract Value is greater than the BDB.  For example, assume the GWB and BDB are equal to $5 million prior to a step-up.  Also assume that the GAWA percentage is 4.75% and the GAWA is $237,500.  If, at the time of step-up, the Contract Value is $6 million, a step-up will occur.  The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million.  If an age band has been crossed and the GAWA percentage for the Owner’s attained age is 5.25%, then the GAWA will be equal to $262,500 (5.25% x $5 million).

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

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

Contract Value Is Zero.  With this GMWB, in the event the Contract Value is zero, the Owner will receive annual payments of the GAWA until the death of the Owner (or the death of any joint Owner), so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase.  The For Life Guarantee will remain in effect if the Contract Value is reduced to zero by adverse investment performance or permissible withdrawals, but will terminate if reduced to zero by an Excess Withdrawal.  If the For Life Guarantee is not in effect, the Owner will receive annual payments of the GAWA until the earlier of the death of the Owner (or the death of any joint Owner) or the date the GWB, if any, is depleted, so long as the Contract is still in the accumulation phase.  The last payment will not exceed the remaining GWB at the time of payment.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner’s (or oldest joint Owner’s) attained age at the time the Contract Value falls to zero and the GAWA will be equal to the GAWA percentage multiplied to the GWB.
 
88
 
         
After each payment when the Contract Value is zero –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the payment less the payment; Or
 
      ●
Zero.
         
   
The GAWA is unchanged. At the end of each Contract Year, if the GWB is less than the GAWA and the For Life Guarantee is not in effect, the GAWA is set equal to the GWB.
 
Subject to the Company’s approval, you may elect to receive p ayments more frequently than annually.  If you die, all rights under your Contract cease.  No subsequent Premium payments will be accepted.  All optional endorsements terminate without value.  And no death benefit is payable, including the Earnings Protection Benefit.

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

●
Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase.  (The date the spousal Beneficiary’s election to continue the Contract is in Good Order is called the Continuation Date.)
 
   
○
Upon the Owner’s death, the For Life Guarantee is void.
 
   
○
Only the GWB is payable while there is value to it (until depleted).
 
   
○
The GWB adjustment provision is void.
 
   
○
Step-ups will continue as permitted in accordance with the step-up rules above.
 
   
○
Contract Anniversaries will continue to be based on the Contract’s Issue Date.
 
   
○
If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the original Owner’s (or oldest joint Owner’s) attained age on the continuation date.  The GAWA percentage will not change on future step-ups, even if the Contract Value exceeds the BDB.
 
   
○
The Latest Income Date is based on the age of the surviving spouse.  Please refer to “Annuitization” subsection below for information regarding the availability of the “Specified Period Income of the GAWA” option if the GWB has been continued by a spousal Beneficiary upon the death of the original Owner.
 
●
Continue the Contract without this GMWB (GMWB is terminated).
 
●
Add this GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the Beneficiary’s eligibility – if the spousal Beneficiary terminated the GMWB in continuing the Contract.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 144.

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

●
The Income Date;
 
●
The date of complete withdrawal of Contract Value (full surrender of the Contract);
 
   
In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.
 
89
 
●
Conversion of this GMWB (if conversion is permitted);
 
●
The date of the Owner’s death (or the first Owner’s death with joint Owners), unless the Beneficiary who is the Owner’s spouse elects to continue the Contract with the GMWB;
 
●
The Continuation Date if the spousal Beneficiary elects to continue the Contract without the GMWB; or
 
●
The date all obligations under this GMWB are satisfied after the Contract has been terminated.

Annuitization.

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

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

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

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

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

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 56 for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

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

Bonus.  The primary purpose of the bonus is to act as an incentive for you to defer taking withdrawals.  A bonus equal to 6% of the Bonus Base (defined below) will be applied to the GWB at the end of each Contract Year within the Bonus Period (also defined below) if no withdrawals are taken during that Contract Year.  The bonus enables the GWB and GAWA to increase in a given Contract Year (even during a down market relative to your Contract Value allocated to the Investment Divisions).  The increase, however, may not equal the amount that your Contract Value has declined.  This description of the bonus feature is supplemented by the examples in Appendix D under section “IV.  LifeGuard Freedom 6 Net”, particularly example 10.  The box below has more information about the bonus, including:
 
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●
How the bonus is calculated;
   
●
What happens to the Bonus Base (and bonus) with a withdrawal, Premium payment, and any step-up;
   
●
For how long the bonus is available; and
   
●
When and what happens when the bonus is applied to the GWB.

The bonus equals 6% of the Bonus Base, which is an amount that may vary after this GMWB is added to the Contract, as described immediately below.
 
 
●
When this GMWB is added to the Contract, the Bonus Base equals the GWB.
 
 
●
With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the Earnings-Sensitive Adjustments during that Contract Year plus the greater of the GAWA or the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal.  Otherwise, there is no adjustment to the Bonus Base with withdrawals.
 
     
○
All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; withdrawals of asset allocation and advisory fees; and free withdrawals under the Contract.
 
     
○
A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
 
 
●
With a Premium payment, the Bonus Base increases by the amount of the Premium payment net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancement.
 
 
●
With any step-up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the step-up.
 
The Bonus Base can never be more than $5 million.
 
The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year.  Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied.
 
When the bonus is applied:
 
 
●
The GWB is recalculated, increasing by 6% of the Bonus Base.
 
 
●
If the Bonus is applied after the first withdrawal (in a prior year), the GAWA is then recalculated, equaling the greater of the GAWA percentage multiplied by the new GWB or the GAWA before the bonus.
 
Applying the bonus to the GWB does not affect the Bonus Base, GWB adjustment or BDB.
 
The Bonus is only available during the Bonus Period. The Bonus Period begins on the effective date of this GMWB endorsement.  In addition, the Bonus Period will re-start at the time the Bonus Base increases due to a step-up so long as the step-up occurs on or before the Contract Anniversary immediately following the Owner’s (if Joint Owners, the oldest Owner’s) 80th birthday.  (See example below.)
 
The Bonus Period ends on the earlier of:
 
 
●
The tenth Contract Anniversary following (1) the effective date of the endorsement or (2) the most recent increase to the Bonus Base due to a step-up, if later; or
 
 
●
The date the Contract Value is zero.
 
 
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The Bonus Base will continue to be calculated even after the Bonus Period expires.  Therefore, it is possible for the Bonus Period to expire and then re-start on a later Contract Anniversary if the Bonus Base increases due to a step-up.
 
The purpose of the re-start provision is to extend the period of time over which the Owner is eligible to receive a bonus.  For example, assume this GMWB was added to a Contract on December 1, 201 5 .  At that time, the bonus period is scheduled to expire on December 1, 202 5 (which is the tenth Contract Anniversary following the effective date of the endorsement).  If a step-up increasing the Bonus Base occurs on the third Contract Anniversary following the effective date of the endorsement (December 1, 201 8 ), and the Owner is younger than age 80, the Bonus Period will re-start and will be scheduled to expire on December 1, 202 8 .  Further, assuming that the next Bonus Base increase due to a step-up does not occur until December 1, 20 30 (which is two years after the Bonus Period in this example expired) and that the Owner is still younger than age 80 at that time, the Bonus Period would re-start on December 1, 20 30 , and would be scheduled to expire on December 1, 20 40 .  (Please also see Examples 8 and 9 in Appendix D under section “IV.  LifeGuard Freedom 6 Net” for more information regarding the re-start provision.)
 
Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract’s Issue Date.


This Guaranteed Minimum Withdrawal Benefit (GMWB) guarantees the withdrawal of a minimum annual amount for the duration of the life of the Owner and the Owner’s spouse regardless of the performance of the underlying investment options, subject to the conditions described below.  This benefit may be appropriate for those individuals who are looking for a number of features, within a GMWB, that may offer a higher level of guarantee and who are seeking greater access to earnings to provide more income when the Contract performs well, without negatively impacting the guarantees.  By allowing the Owner and the Owner’s spouse to add earnings to the amount of otherwise permissible withdrawals, referred to below as the Earnings-Sensitive Adjustment, he or she has the potential to take greater withdrawals and to receive the same after-tax withdrawal amount every Contract Year (assuming a 40% tax rate).

The following descriptions of this GMWB’s features are supplemented by a basic example below and the examples in Appendix D under section “IV. LifeGuard Freedom 6 Net”.  The guarantees of this GMWB are subject to the endorsement’s terms, conditions, and limitations that are explained below.  Please consult the representative who is helping you purchase your Contract to be sure that this GMWB ultimately suits your needs.

The election of this GMWB under a non-qualified Contract requires the joint Owners to be spouses (as defined under the Internal Revenue Code) and each joint Owner is considered to be a “Covered Life.”

 The Owners cannot be subsequently changed (except in the limited circumstances discussed below), and new Owners cannot be added.  Upon death of either joint Owner, the surviving joint Owner will be treated as the primary Beneficiary and all other Beneficiaries will be treated as contingent Beneficiaries.  The For Life Guarantee will not apply to these contingent Beneficiaries, as they are not Covered Lives.

This GMWB is available on a limited basis under non-qualified Contracts for certain kinds of legal entities, such as (i) custodial accounts where the spouses are the joint Annuitants and (ii) trusts where the spouses are the sole beneficial owners, and the For Life Guarantee is based on the Annuitant’s life who dies last.  We will allow changes (a) from joint individual ownership of non-qualified Contracts to ownership by the types of legal entities that we permit or (b) changes of ownership from such a legal entity to the Annuitants or to another such legal entity; however, we do not allow these ownership changes if they are a taxable event under the Code, and no changes of Annuitant subsequent to any such change are allowed.  For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not specifically described above as a permitted change will result in termination of the GMWB. 

Tax-qualified Contracts cannot be issued to joint Owners and require the Owner and Annuitant to be the same person.  Under a tax-qualified Contract, the election of this GMWB requires the Owner and primary Beneficiary to be spouses (as defined in the Internal Revenue Code).  The Owner and only the primary spousal Beneficiary named at the election of this GMWB under a tax-qualified Contract will also each be considered a Covered Life, and these Covered Lives cannot be subsequently changed.

In certain circumstances we may permit the elimination of a joint Owner Covered Life or primary spousal Beneficiary Covered Life in the event of divorce.  In such cases, new Covered Lives may not be named.
 
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For tax-qualified Contracts, the Owner and primary spousal Beneficiary cannot be changed while both are living.  If the Owner dies first, the primary spousal Beneficiary will become the Owner upon Spousal Continuation and he or she may name a Beneficiary; however, that Beneficiary is not considered a Covered Life.  Likewise, if the primary spousal Beneficiary dies first, the Owner may name a new Beneficiary; however, that Beneficiary is also not considered a Covered Life and consequently the For Life Guarantee will not apply to the new Beneficiary.

This GMWB is also available on a limited basis under Qualified Custodial Account Contracts, pursuant to which the Annuitant and a Contingent Annuitant named at election of the GMWB must be spouses and will be the Covered Lives.  The only changes in these arrangements that we permit are that (i) the custodial owner may be changed or (ii) the ownership of the Contract may be transferred to the Annuitant if, at the same time as that transfer, the Contingent Annuitant is designated as the primary (spousal) Beneficiary.

For both non-qualified and tax-qualified Contracts, this GMWB guarantees withdrawals during the Contract’s accumulation phase (i.e., before the Income Date), subject to the following:

●
 This guarantee lasts for the duration of the life of the last surviving Covered Life (the “For Life Guarantee”) if the For Life Guarantee is in effect;
     
   
The For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the youngest Covered Life attaining the age of 59 1/2.  If the youngest Covered Life is 59 1/2 years old or older on the endorsement’s effective date, then the For Life Guarantee is effective when this GMWB is added to the Contract.

If the For Life Guarantee is in effect, it will be terminated if a withdrawal exceeds the permissible amounts and reduces the Contract Value to zero.  (Please see the “Contract Value is Zero” subsection below to understand what happens when the Contract Value is reduced to zero.)  Otherwise, the For Life Guarantee remains effective until the date this GMWB endorsement is terminated or until the Continuation Date on which a spousal Beneficiary who is not a Covered Life continues this GMWB endorsement under spousal continuation.  Please see the “Termination” subsection below to understand under what conditions this GMWB endorsement and, accordingly, the For Life Guarantee can be terminated.

In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee.  See “Contract Value is Zero” below for more information.
     
●
If the For Life Guarantee is not in effect, the guarantee lasts until the earlier of (1) the date of the death of the last surviving Covered Life or (2) the date when all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.
     
   
The GWB is the guaranteed amount available for future periodic withdrawals.
 
In the event of the last surviving Covered Life’s death, a spousal Beneficiary who is not a Covered Life may continue this GMWB endorsement under spousal continuation.  In that event, the GWB is payable until depleted.  (Please see the “Spousal Continuation” subsection below for more information.)  If the Beneficiary is a non-spousal Beneficiary, the GWB is void and this endorsement is terminated; therefore, the death of the last surviving Covered Life may have a significant negative impact on the value of this GMWB endorsement and cause the endorsement to prematurely terminate.
 
There is a limit on withdrawals each Contract Year to keep the guarantees of this GMWB in full effect – the greater of the Guaranteed Annual Withdrawal Amount (GAWA) or, for certain tax-qualified Contracts, the required minimum distribution (RMD), plus the Earnings-Sensitive Adjustments during a Contract Year, if any.  Please see “Withdrawals” below for more information about the GAWA and Earnings-Sensitive Adjustments.  The withdrawals that exceed the limit are referred to as “Excess Withdrawals”, as further described below, while those that do not exceed the limit are referred to as “permissible withdrawals” or “permissible amounts.”

This GMWB is available to Covered Lives 35 to 80 years old (proof of age is required and both Covered Lives must be within the eligible age range).  This GMWB may be added to a Contract on the Issue Date or on any Contract Anniversary and cannot be canceled except by a spousal Beneficiary who is not a Covered Life, who, upon the Owner’s death, may elect to continue the Contract without the GMWB.  To continue joint GMWB coverage upon the death of the Owner (or the death of either joint Owner of a non-qualified Contract), provided that the other Covered Life is still living, the Contract must be continued by election of Spousal Continuation.  Upon continuation, the spouse becomes the Owner and obtains all rights as the Owner.  If you want to elect this GMWB
 
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after the Contract Issue Date on a Contract Anniversary (subject to availability), we must receive a request in Good Order within 30 calendar days prior to the Contract Anniversary.  This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract).

Availability of this GMWB may be subject to further limitation.

Election.  The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.
 
When this GMWB is added to the Contract
on the Issue Date –
The GWB equals initial Premium net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement.
 
The GAWA is determined based on the youngest Covered Life’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the withdrawal.  See the GAWA percentage table below.
 
 
When this GMWB is added to the Contract on any
Contract Anniversary , subject to availability –
The GWB equals Contract Value, minus (for endorsements issued on or after September 16, 2013) any recapture charges that would be assessed on a full withdrawal.
 
The GAWA is determined based on the youngest Covered Life’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the withdrawal.  See the GAWA percentage table below.
 
For endorsements issued on or after September 16, 2013, Contract Enhancements and the corresponding recapture charges are not included in the calculation of the GWB when this GMWB is added to the Contract on the Issue Date.  This is why Premium (net of any applicable Premium taxes) is used to calculate the GWB.  On Contracts with a Contract Enhancement, the result is a GWB that is less than Contract Value when this GMWB is added to the Contract.  For endorsements issued before September 16, 2013, please note that while Contract Enhancements are effectively included in the GWB calculations at and after issue, potential recapture charges are not included at either time. The GWB can never be more than $5 million (including upon step-up, the application of a GWB adjustment or the application of any bonus), and the GWB is reduced by each withdrawal.  (See Examples 1 and 2 in Appendix D under section “IV.  LifeGuard Freedom 6 Net”.)

PLEASE NOTE:  Upon the Owner’s death, the For Life Guarantee is void unless this GMWB is continued by a spousal Beneficiary who is a Covered Life.  However, it is possible for this GMWB to be continued without the For Life Guarantee by a spousal Beneficiary who is not a Covered Life.  Please see the “Spousal Continuation” subsection below for more information.

Withdrawals.  The GAWA percentage and the GAWA are determined at the time of the first withdrawal.  The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the withdrawal.  The GAWA percentage varies according to age group and is determined based on the youngest Covered Life’s attained age at the time of the first withdrawal.  (Elsewhere in this prospectus we refer to this varying GAWA percentage structure as the “varying benefit percentage”.)

There are three different GAWA% tables that may be available, each of which provides different GAWA percentages with different charges. The GAWA% tables, listed from the table offering the lowest GAWA percentages for each age group to the table offering the highest GAWA percentages for each age group, are: the Income Stream Level 1 GAWA% Table; the Income Stream Level 2 GAWA% Table; and the Income Stream Level 3 GAWA% Table. We reserve the right to prospectively restrict the availability of the GAWA% tables.  Therefore, not all GAWA% tables may be available at the time you are interested in electing this GMWB. Please contact your representative, or contact us at our Annuity Service Center, for information regarding the current availability of the GAWA% tables.
 
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The GAWA percentages for each age group, depending on which GAWA% table you elect, are as follows:

For Endorsements Issued On Or After September 15, 2014:

Ages
Income Stream Level 1
GAWA% Table
Income Stream Level 2
GAWA% Table
Income Stream Level 3
GAWA% Table
35 – 64
3.00%
3.25%
3.50%
65 – 74
4.00%
4.25%
4.50%
75 – 80
4.50%
4.75%
5.00%
81+
5.00%
5.25%
5.50%

If your endorsement was issued before September 15, 2014, different GAWA percentages than those reflected in the above table may apply. Please refer to your Contract endorsement and the related prospectus disclosure for the GAWA percentages applicable under your Contract at the time of purchase. If you need assistance finding this information, please contact your representative, or contact us at our Annuity Service Center. Our contact information is on the first page of the prospectus.

We reserve the right to prospectively change the GAWA percentages, including the age bands, on new GMWB endorsements.  We recommend you check with your representative to learn about the current level of the GAWA percentages, or contact us at our Annuity Service Center for more information.  Our contact information is on the first page of the prospectus. If we change the GAWA percentages described above, we will follow these procedures:
1) When we issue your Contract we will deliver a copy of the prospectus that includes the notice of change of GAWA percentages in the form of a prospectus update to you.  You will have until the end of the Free Look period to cancel your Contract and this GMWB by returning the Contract to us pursuant to the provisions of the Free Look section (please see “Free Look” on page 149).
2) If you are an existing Owner and are eligible to elect this GMWB after the Issue Date, at the time we change the GAWA percentages we will send you the notice of change of GAWA percentages in the form of a prospectus update. If you later elect this GMWB, when we receive your election, we will send you the required endorsement with a duplicate notice of change of GAWA percentages. You will have 30 days after receiving the notice to cancel your election of this GMWB by returning the endorsement to us.
In each case, the actual GAWA percentages will be reflected in your Contract endorsement.

In connection with a change of GAWA percentages, as described above, we may continue to offer the existing GAWA percentages, in effect prior to the change, as an Optional GAWA% table at an increased charge. The increased charge for this GMWB will not be greater than the maximum annual charge shown in the charge tables, which in no event exceeds 3.00%. For the charges for each GMWB, please see the section for the applicable GMWB appearing under “Contract Charges” beginning on page 30. Also, please see the “Optional Endorsements” table under the “FEES AND EXPENSES TABLES” beginning on page 4. The Optional GAWA% table will maintain the GAWA percentages for each age group that were available before the change as reflected in the above table.  If we offer the Optional GAWA% table, the notice of change in the form of a prospectus update, that will be delivered to you, will describe both the change to the GAWA percentages, and the Optional GAWA% table and related charges. We reserve the right to prospectively change the GAWA percentages in the Optional GAWA% table, including the age bands, on new GMWB endorsements subject to the notices and procedures described above.

Withdrawals cause the GWB to be recalculated.  Withdrawals will also cause the GAWA to be recalculated if the withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or, for certain tax-qualified Contracts only, the RMD, plus the Earnings-Sensitive Adjustments during that Contract Year, if any.  In such case, the recalculation of the GAWA will occur whether or not the For Life Guarantee is in effect.  If the GWB is less than the GAWA at the end of any Contract Year and the For Life Guarantee is not in effect, the GAWA will be set equal to the GWB.  This may occur, when over time, payment of the guaranteed withdrawals is nearly complete, the For Life Guarantee is not in effect and the GWB has been depleted to a level below the GAWA. The tables below clarify what happens in each instance.  (Example 14 in Appendix D under section “IV. LifeGuard Freedom 6 Net” demonstrates how withdrawals affect this GMWB’s guaranteed values).  In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee.  See “Contract Value is Zero” below for more information.

(RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only.  There is no RMD for non-qualified Contracts.  For certain tax-qualified Contracts, this GMWB allows withdrawals greater than the GAWA plus the Earnings-Sensitive Adjustments during that Contract Year, if any, to meet the Contract’s RMD (when the RMD is higher than the GAWA) without compromising the endorsement’s guarantees.  Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, please see “RMD NOTES” under “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” on page 57, for more information.)
 
95
 
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, plus the
Earnings-Sensitive Adjustments
during that Contract Year, if any –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the withdrawal less the withdrawal; Or
 
    ●
Zero.
       
 
The GAWA is unchanged.

The GAWA is not reduced if all withdrawals during any one Contract Year do not exceed the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments during that Contract Year, if any.  The GAWA will be reduced at the end of a Contract Year to equal the GWB if the For Life Guarantee is not in effect and the GWB is nearly depleted, resulting in a GWB that is less than the GAWA.  You may withdraw the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments during that Contract Year, if any, all at once or throughout the Contract Year.  Withdrawing less than the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments, in the next Contract Year.  The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.

Withdrawing more than the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments, if any, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 14c in Appendix D under section “IV. LifeGuard Freedom 6 Net”).  In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount.  The GAWA is also likely to be reduced.  Therefore, please note that withdrawing more than the greater of the GAWA or RMD, plus the Earnings-Sensitive Adjustments, if any in a Contract Year may have a significantly negative impact on the value of this benefit.
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or RMD,  plus the Earnings-Sensitive
Adjustments during that Contract Year, if any –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB prior to the withdrawal, first reduced dollar-for-dollar for any portion of the withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
 
    ●
Zero.
       
   
The GAWA is recalculated as follows:
         
      ●
The GAWA prior to the withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.
 
The Excess Withdrawal is defined to be the lesser of:

●
The total amount of the current withdrawal, or

●
The amount by which the cumulative withdrawals for the current Contract Year (including the current withdrawal) exceeds the greater of the GAWA or the RMD, plus the Earnings-Sensitive Adjustments during that Contract Year, if any.

How the Earnings-Sensitive Adjustment works:  As previously stated, the Earnings-Sensitive Adjustment is an amount that the Owner may be allowed to withdraw each Contract Year in addition to the GAWA while keeping the guarantees of this GMWB fully effective.  An Earnings-Sensitive Adjustment calculation is done for each withdrawal taken and the amount, if any, depends on the withdrawal amount and the GMWB Earnings at the time of the withdrawal.  A withdrawal under the Contract that includes an Earnings-Sensitive Adjustment will reduce Contract Value and other values in the same manner as any other withdrawal.

When determining the amount of permissible withdrawals, the formula for this GMWB takes into account two additional factors in computing the Earnings-Sensitive Adjustment (the additional permissible amount attributable to earnings) after all the other standard values such as the GAWA and GWB used in all GMWB endorsements are determined.  The Guaranteed Withdrawal Balance Adjustment is also determined in the same manner without any special computational factors.  Thus, this GMWB is similar to all other GMWBs except with regard to calculating the amount of permissible withdrawals.
 
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The first concept used is the Maximum Eligible Withdrawal Amount Remaining (MEWAR), which is the maximum withdrawal amount (before the application of any Earnings-Sensitive Adjustment) that is eligible for the Earnings-Sensitive Adjustment at a given time.  At any time, the MEWAR is the greater of:
 
1.
Zero; or
2.
The amount equal to:
  a.
the amount of previous Earnings-Sensitive Adjustments in the current Contract Year; plus,
  b.
the greater of the GAWA or the RMD; less
  c.
all withdrawals previously made in the current Contract Year, including Earnings-Sensitive Adjustments.
 
The second concept relates to determining what the eligible earnings (GMWB Earnings) were. This involves a calculation that provides that at any time, GMWB Earnings are the greater of:
 
1.
Zero; or
2.
The Contract Value minus the GMWB Earnings Determination Baseline.
 
The GMWB Earnings Determination Baseline is determined as follows:  If this GMWB is elected on the Contract’s Issue Date, the GMWB Earnings Determination Baseline is equal to the Premium, net of any applicable Premium taxes.  If this GMWB is elected on any Contract Anniversary, the GMWB Earnings Determination Baseline is equal to Contract Value less any recapture charge that would be assessed on a full withdrawal.

With each subsequent Premium received after the Contract Issue Date, the GMWB Earnings Determination Baseline is recalculated to equal the GMWB Earnings Determination Baseline prior to the Premium payment plus the amount of the Premium payment, net of any applicable Premium taxes.

With each withdrawal, the GMWB Earnings Determination Baseline is recalculated to equal the greater of:
 
1.
Zero; or
2.
GMWB Earnings Determination Baseline prior to the withdrawal less the greater of:
a.   the withdrawal amount less the GMWB Earnings at the time of the withdrawal; or
b.  zero.
 
In determining the GMWB Earnings and the GMWB Earnings Determination Baseline, the formulas utilize the greater of zero, which serves to limit negative earnings results from affecting the calculations.

Withdrawals exceeding the permissible amount do not invalidate the For Life Guarantee if the Contract Value remains greater than zero, but cause the GWB and GAWA to be recalculated.

Earnings-Sensitive Adjustment as applied:

If the For Life Guarantee is in effect at the time of the withdrawal, the Earnings-Sensitive Adjustment is equal to the lesser of:
 
1.
40% of the GMWB Earnings at the time of the withdrawal; or
 
2.
2/3 of the lesser of the MEWAR and the withdrawal amount prior to any Earnings-Sensitive Adjustment.
 
If the For Life Guarantee is not in effect at the time of the withdrawal, the Earnings-Sensitive Adjustment is equal to the lesser of:
 
1.
40% of the GMWB Earnings at the time of withdrawal;
 
2.
2/3 of the lesser of the MEWAR and the withdrawal amount prior to any Earnings-Sensitive Adjustment; or
 
3.
The greater of:
a.
zero; or
 
b.
the GWB less the MEWAR.
 
Example:  For an example of a contract that makes basic simple assumptions to show how this Earnings-Sensitive Adjustment provision and its various components (i.e., GMWB Earnings, MEWAR, GMWB Earnings Determination Baseline, etc.) work, assume that you request the maximum permissible withdrawal, including an Earnings Sensitive Adjustment, if any.  At the time of your withdrawal request, also assume that:
 
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●  You and your spouse are age 65
●  You have a non-qualified Contract (so there is no applicable RMD)
●  Your initial Premium payment was $100,000
●  You have not made any additional Premium payments or any
●  The For Life Guarantee is in effect
  withdrawals in the prior Contract Years or the current Contract Year
●  Your GWB is $100,000
●  Your GAWA percentage is 5%
●  Your GAWA is $5,000
●  Your Contract Value is $108,000
 
Your GMWB Earnings Determination Baseline prior to the withdrawal is equal to your initial sole Premium payment of  $100,000.  Since you have not taken other withdrawals and, therefore, there have been no previous Earnings-Sensitive Adjustments during the current Contract Year, the MEWAR is $5,000 (which is the greater of: zero, or the Earnings-Sensitive Adjustments thus far in the current Contract Year ($0) plus the GAWA ($5,000) less all partial withdrawals thus far in the current Contract year ($0)) ($0 + $5,000 - $0 = $5,000).  As there have been no previous withdrawals taken in the current Contract Year, the MEWAR in this example equals the GAWA.

Your GMWB Earnings in this example are equal to $8,000, which is the greater of: zero, or your Contract Value less your GMWB Earnings Determination Baseline ($108,000 - $100,000 = $8,000).  The Earnings-Sensitive Adjustment is equal to $3,200, which is the lesser of two amounts: $3,200, which is equal to 40% of the GMWB Earnings (0.40 * $8,000 = $3,200); and $3,333, which is equal to 2/3 of the lesser of the MEWAR and the withdrawal amount prior to the Earnings-Sensitive Adjustment (2/3 * $5,000 = $3,333).  The total withdrawal amount requested in this example, therefore, is $8,200, which is the MEWAR plus the Earnings-Sensitive Adjustment ($5,000 + $3,200 = $8,200).

Going forward adjustments are made to your various GMWB values and demonstrated by using the same assumptions as this example. Your Contract Value after the withdrawal is equal to $99,800, which is the Contract Value prior to the withdrawal less the total withdrawal amount ($108,000 - $8,200 = $99,800).  Your GMWB Earnings Determination Baseline after the withdrawal is also equal to $99,800, which is the GMWB Earnings Determination Baseline prior to the withdrawal ($100,000) reduced by the greater of: the withdrawal amount in excess of the GMWB Earnings ($8,200 - $8,000 = $200), or zero.  Your MEWAR after the withdrawal is equal to $0, which is the greater of: zero, or the Earnings-Sensitive Adjustments thus far in the current Contract Year plus the GAWA less all withdrawals thus far in the current Contract Year ($3,200 + $5,000 - $8,200 = 0).  Your GWB after the withdrawal is equal to $91,800, which is the GWB before the withdrawal less the total withdrawal ($100,000 - $8,200 = $91,800).

Since the total withdrawals for the year do not exceed the total Earnings-Sensitive Adjustments for the current Contract Year ($3,200) plus the GAWA ($5,000), no proportional reduction applies to your GWB for this withdrawal.  In addition, since the total withdrawals for the year do not exceed the total Earnings-Sensitive Adjustments for the current Contract Year ($3,200) plus the GAWA ($5,000), your GAWA is unchanged after the withdrawal.

For more examples showing how the Earnings-Sensitive Adjustment provision works, including an example involving an Excess Withdrawal, please see Example 14 in Appendix D under section “IV. LifeGuard Freedom 6 Net”.

More on Withdrawals:  Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any withdrawal charges, recapture charges and other charges or adjustments.  Any withdrawals from Contract Value allocated to a Fixed Account Option may be subject to an Excess Interest Adjustment.  For more information, please see “THE FIXED ACCOUNT AND GMWB FIXED ACCOUNT” beginning on page 13.  Withdrawals may be subject to a recapture charge on any Contract Enhancement.  Withdrawals in excess of free withdrawals may be subject to a withdrawal charge.

Withdrawals under this GMWB are considered the same as any other withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts, withdrawals of asset allocation and advisory fees, and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

If the age of any Covered Life is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age.  Any future GAWA percentage recalculation will be based on the correct age.  If the age at election of either Covered Life falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.
 
Withdrawals made under section 72(t) or section 72(q) of the Code are not considered RMDs for purposes of preserving the guarantees under this GMWB. Such withdrawals that exceed the GAWA will have the same effect as any withdrawal or excess withdrawal as described above and, consistent with that description, may cause a significant negative impact to your benefit.
 
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Guaranteed Withdrawal Balance Adjustment.  If no withdrawals are taken from the Contract on or prior to the GWB Adjustment Date (as defined below), then you will receive a GWB adjustment.  Tax-qualified plan Contract owners should consider the impact of Required Minimum Distributions on this benefit since any withdrawal from the Contract will void the GWB adjustment.

The GWB Adjustment Date is the later of:

●
The Contract Anniversary on or immediately following the youngest Covered Life’s 70th birthday, Or
 
●
The 12th Contract Anniversary (10th Contract Anniversary for endorsements issued before September 16, 2013) following the effective date of this endorsement.
 
The GWB adjustment is determined as follows:

●
On the effective date of this endorsement, the GWB adjustment is equal to 200% of the GWB, subject to a maximum of $5,000,000.

●
With each subsequent Premium received after this GMWB is effective and prior to the first Contract Anniversary following this GMWB’s effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the Premium payment plus 200% of the amount of the Premium payment, net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement -- subject to a maximum of $5,000,000.  (See Examples 4 and 5 in Appendix D under section “IV. LifeGuard Freedom 6 Net”.)

●
With each subsequent Premium received on or after the first Contract Anniversary following this GMWB’s effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the Premium payment plus the amount of the Premium payment, net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement -- subject to a maximum of $5,000,000.  (See Examples 4 and 5 in Appendix D under section “IV. LifeGuard Freedom 6 Net”.)

If no withdrawals are taken on or prior to the GWB Adjustment Date, the GWB will be re-set on that date to equal the greater of the current GWB or the GWB adjustment.  No adjustments are made to the Bonus Base, the GMWB Earnings Determination Baseline or the Benefit Determination Baseline (explained below under “Step-Up”).  Once the GWB is re-set, this GWB adjustment provision terminates.  In addition, if a withdrawal is taken on or before the GWB Adjustment Date, this GWB adjustment provision terminates without value.  (Please see example 13 in Appendix D under section “IV. LifeGuard Freedom 6 Net” for an illustration of this GWB adjustment provision.)

Premiums.
         
With each subsequent Premium payment on the Contract –
  
The GWB is recalculated, increasing by the amount of the Premium net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement.
       
   
If the Premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
         
      ●
The GAWA percentage multiplied by the sum of i) the subsequent Premium payment net of any applicable Premium taxes, plus ii) (for endorsements issued before September 16, 2013) any Contract Enhancement; Or
 
      ●
The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.
 
We require prior approval for a subsequent Premium payment that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments.  The GWB can never be more than $5 million.  See Examples 4b and 5b in Appendix D under section “IV. LifeGuard Freedom 6 Net” to see how the GWB is recalculated when the $5 million maximum is hit.

Step-Up.  On each Contract Anniversary following the effective date of this GMWB, if the Contract Value is greater than the GWB, the GWB will be automatically re-set to the Contract Value (a “step-up”).  (See Examples 8 and 9 in Appendix D under section “IV. LifeGuard Freedom 6 Net”.)
 
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In addition to an increase in the GWB, a step-up allows for a potential increase in the GAWA percentage in the event that the step-up occurs after the first withdrawal.  The value used to determine whether the GAWA percentage will increase upon step-up is called the Benefit Determination Baseline (BDB).  If this GMWB is elected on the Contract’s Issue Date, the BDB equals initial Premium net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement.  If this GMWB is elected on any Contract Anniversary (subject to availability), the BDB equals Contract Value less (for endorsements issued on or after September 16, 2013) any recapture charges that would be assessed on a full withdrawal.

Upon step-up, if the Contract Value is greater than the BDB and the step-up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the youngest Covered Life’s attained age.  If an age band is crossed, the GAWA percentage will be increased.  For example, assume the youngest Covered Life was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 4.50% (assuming Income Stream Level 3 was elected) .  Also assume that, when the youngest Covered Life is age 76, a step-up occurs and the Contract Value is greater than the BDB; in that case, the GAWA percentage will be re-determined based on the youngest Covered Life’s attained age of 76, resulting in a new GAWA percentage of 5.00%.

Upon step-up, if the Contract Value is not greater than the BDB, the GAWA percentage remains unchanged regardless of whether an age band has been crossed.

In the event that the Contract Value is greater than the BDB, the BDB is set equal to the Contract Value.  The purpose of this re-set is to increase the BDB that will be used to determine whether the GAWA percentage will increase upon a future step-up if an age band is crossed.

Withdrawals do not affect the BDB.  Subsequent Premium payments increase the BDB by the amount of the Premium net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement.  In addition, unlike the GWB, the BDB is not subject to any maximum amount.  Therefore, it is possible for the BDB to be more than $5 million.
         
With a step-up –
  
The GWB equals the Contract Value (subject to a $5 million maximum).
     
   
If the Contract Value is greater than the BDB prior to the step-up, then the BDB is set to equal the Contract Value (not subject to any maximum amount); and, if the step-up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the youngest Covered Life.
         
      ●
The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation if the spouse electing Spousal Continuation is not a Covered Life.
         
   
For all Contracts to which this GMWB is added, if the step-up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
         
      ●
The GAWA percentage multiplied by the new GWB, Or
         
      ●
The GAWA prior to step-up.
 
PLEASE NOTE: Withdrawals from the Contract reduce the GWB and Contract Value but do not affect the BDB.  In the event of withdrawals, the BDB remains unchanged.  Therefore, because the Contract Value must be greater than the BDB prior to step-up in order for the GAWA percentage to increase, a GAWA percentage increase may become less likely when continuing withdrawals are made from the Contract.

Upon step-up on or after the 2nd Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge of 3.00%.  You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups.  Such election must be received in Good Order prior to the Contract Anniversary.  Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus.  While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  (Please see the “Bonus” subsection below for more information.)  Also know that you may subsequently elect to reinstate the step-up provision together with the GWB bonus provision at the then current GMWB Charge.  All requests will be effective on the Contract Anniversary following receipt of the request in Good Order.

The GWB can never be more than $5 million with a step-up.  However, the BDB is not subject to a $5 million maximum; therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum because automatic step-ups still occur if the Contract Value is greater than the BDB.  For example, assume the GWB and BDB are equal to $5 million prior to
 
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a step-up.  Also assume that the GAWA percentage is 4.50% and the GAWA is $225,000.  If, at the time of step-up, the Contract Value is $6 million, a step-up will occur.  The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million.  If an age band has been crossed and the GAWA percentage for the youngest Covered Life’s attained age is 5.00%, then the GAWA will be equal to $250,000 (5.00% x $5 million).

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

Owner’s Death.  The Contract’s death benefit is not affected by this GMWB so long as Contract Value is greater than zero and the Contract is still in the accumulation phase.  Upon the death of the sole Owner of a qualified Contract or the death of either joint Owner of a non-qualified Contract while the Contract is still in force, this GMWB terminates without value, unless continued by the surviving spouse.  Please see the information beginning on page 92 regarding the required ownership and beneficiary structure under both qualified and non-qualified Contracts when selecting this Joint For Life GMWB With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount benefit.

Contract Value Is Zero.  With this GMWB, in the event the Contract Value is zero, the Owner will receive annual payments of the GAWA until the death of the last surviving Covered Life, so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase.  The For Life Guarantee will remain in effect if the Contract Value is reduced to zero by adverse investment performance or permissible withdrawals, but will terminate if reduced to zero by an Excess Withdrawal.  If the For Life Guarantee is not in effect, the Owner will receive annual payments of the GAWA until the earlier of the death of the Owner (or the death of any joint Owner) or the date the GWB, if any, is depleted, so long as the Contract is still in the accumulation phase.  The last payment will not exceed the remaining GWB at the time of payment.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the youngest Covered Life’s attained age at the time the Contract Value falls to zero and the GAWA will be equal to the GAWA percentage multiplied to the GWB.
         
After each payment when the Contract Value is zero –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the payment less the payment; Or
 
    ●
Zero.
       
 
The GAWA is unchanged.  At the end of each Contract Year, if the GWB is less than the GAWA and the For Life Guarantee is not in effect, the GAWA is set equal to the GWB.
 
Subject to the Company’s approval, you may elect to receive p ayments more frequently than annually.  Upon death of the last surviving Covered Life, all rights under the Contract cease.  No subsequent Premium payments will be accepted.  All optional endorsements terminate without value.  And no death benefit is payable, including the Earnings Protection Benefit.

Spousal Continuation.  In the event of the Owner’s (or either joint Owner’s) death, the surviving spousal Beneficiary may elect to:

●
Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase.  (The date the spousal Beneficiary’s election to continue the Contract is in Good Order is called the Continuation Date.)
       
   
○
If the surviving spouse is a Covered Life, then the For Life Guarantee remains effective on and after the Continuation Date.
 
If the surviving spouse is not a Covered Life, the For Life Guarantee is null and void.  However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted.
       
   
○
For a surviving spouse who is a Covered Life, continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee.  The For Life Guarantee is not a separate guarantee and only applies if the related GMWB has not terminated.
       
   
○
If the surviving spouse is a Covered Life and a GWB adjustment provision is in force on the continuation date then the provision will continue to apply in accordance with the applicable GWB adjustment provision rules above.  The GWB Adjustment Date will continue to be based on the original effective date of the endorsement or the youngest Covered Life’s attained age, as applicable.
 
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If the surviving spouse is not a Covered Life, any GWB adjustment is null and void.
       
   
○
Step-ups will continue as permitted in accordance with the step-up rules above.
 
New GAWA percentages will continue to be determined in accordance with the step-up rules above if the continuing spouse is a Covered Life.  No such new GAWA percentages will be determined subsequent to continuation by a spouse who is not a Covered Life.
 
   
○
Contract Anniversaries will continue to be based on the Contract’s Issue Date.
 
   
○
If the surviving spouse is a Covered Life, the GAWA percentage will continue to be calculated and/or recalculated based on the youngest Covered Life’s attained age.
 
   
○
If the surviving spouse is not a Covered Life and if the GAWA percentage has not yet been determined, the GAWA percentage will be based on the youngest Covered Life’s attained age on the continuation date.  The GAWA percentage will not change on future step-ups.
 
   
○
The Latest Income Date is based on the age of the surviving spouse.  Please refer to “Annuitization” subsection below for information regarding the additional Income Options available on the Latest Income Date.
 
   
○
A new joint Owner may not be added in a non-qualified Contract if a surviving spouse continues the Contract.
 
●
Continue the Contract without this GMWB (GMWB is terminated) if the surviving spouse is not a Covered Life.  Thereafter, no GMWB charge will be assessed.  If the surviving spouse is a Covered Life, the Contract cannot be continued without this GMWB.
 
For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 144.

Termination. This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last quarterly or monthly charge and all benefits cease on the earliest of:
 
●
The Income Date;
   
●
The date of complete withdrawal of Contract Value (full surrender of the Contract);
   
   
In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.
     
●
Conversion of this GMWB (if conversion is permitted);
   
●
The date of death of the Owner (or either joint Owner), unless the Beneficiary who is the Owner’s spouse elects to continue the Contract with the GMWB (continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee if the surviving spouse is a Covered Life);
   
●
The Continuation Date on a Contract if the spousal Beneficiary, who is not a Covered Life, elects to continue the Contract without the GMWB; or
   
●
The date all obligations under this GMWB are satisfied after the Contract has been terminated.
 
Annuitization.

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

If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the youngest Covered Life’s attained age at the time of election of this option.  The GAWA percentage will not change after election of this option.

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

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

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

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 56 for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

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

Bonus.  The primary purpose of the bonus is to act as an incentive for you to defer taking withdrawals.  A bonus equal to 6% of the Bonus Base (defined below) will be applied to the GWB at the end of each Contract Year within the Bonus Period (also defined below) if no withdrawals are taken during that Contract Year.  The bonus enables the GWB and GAWA to increase in a given Contract Year (even during a down market relative to your Contract Value allocated to the Investment Divisions).  The increase, however, may not equal the amount that your Contract Value has declined.  This description of the bonus feature is supplemented by the examples in Appendix D under section “IV. LifeGuard Freedom 6 Net”, particularly example 10.  The box below has more information about the bonus, including:

●
How the bonus is calculated;
 
●
What happens to the Bonus Base (and bonus) with a withdrawal, Premium payment, and any step-up;
 
●
For how long the bonus is available; and
 
●
When and what happens when the bonus is applied to the GWB.
 
The bonus equals 6% of the Bonus Base, which is an amount that may vary after this GMWB is added to the Contract, as described immediately below.
       
  ●
When this GMWB is added to the Contract, the Bonus Base equals the GWB.
     
 
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  ●
With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the Earnings-Sensitive Adjustments during that Contract Year plus the greater of the GAWA or the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal.  Otherwise, there is no adjustment to the Bonus Base with withdrawals.
       
   
○
All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; withdrawals of asset allocation and advisory fees; and free withdrawals under the Contract.
       
   
○
A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
       
   ●
With a Premium payment, the Bonus Base increases by the amount of the Premium payment net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement.
       
  ●
With any step-up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the step-up.
     
The Bonus Base can never be more than $5 million.
 
The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year.  Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied.
 
When the bonus is applied:
       
  ●
The GWB is recalculated, increasing by 6% of the Bonus Base.
     
  ●
If the Bonus is applied after the first withdrawal (in a prior year), the GAWA is then recalculated, equaling the greater of the GAWA percentage multiplied by the new GWB or the GAWA before the bonus.
       
Applying the bonus to the GWB does not affect the Bonus Base, GWB adjustment or BDB.
 
The Bonus is only available during the Bonus Period.  The Bonus Period begins on the effective date of this GMWB endorsement.  In addition, the Bonus Period will re-start at the time the Bonus Base increases due to a step-up so long as the step-up occurs on or before the Contract Anniversary immediately following the youngest Covered Life’s 80th birthday.  (See example below.)
 
The Bonus Period ends on the earlier of:
       
  ●
The tenth Contract Anniversary following (1) the effective date of the endorsement or (2) the most recent increase to the Bonus Base due to a step-up, if later; or
     
  ●
The date the Contract Value is zero.
   
 
  
The Bonus Base will continue to be calculated even after the Bonus Period expires.  Therefore, it is possible for the Bonus Period to expire and then re-start on a later Contract Anniversary if the Bonus Base increases due to a step-up.
 
 
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The purpose of the re-start provision is to extend the period of time over which the Owner is eligible to receive a bonus.  For example, assume this GMWB was added to a Contract on December 1, 201 5 .  At that time, the bonus period is scheduled to expire on December 1, 202 5 (which is the tenth Contract Anniversary following the effective date of the endorsement).  If a step-up increasing the Bonus Base occurs on the third Contract Anniversary following the effective date of the endorsement (December 1, 201 8 ), and the youngest Covered Life is younger than age 80, the Bonus Period will re-start and will be scheduled to expire on December 1, 202 8 .  Further, assuming that the next Bonus Base increase due to a step-up does not occur until December 1, 20 30 (which is two years after the Bonus Period in this example expired) and that the youngest Covered Life is still younger than age 80 at that time, the Bonus Period would re-start on December 1, 20 30 , and would be scheduled to expire on December 1, 20 40 .  (Please also see Examples 8 and 9 in Appendix D under section “IV. LifeGuard Freedom 6 Net” for more information regarding the re-start provision.)
 
Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract’s Issue Date.
 

PLEASE NOTE:  THE QUARTERLY STEP-UPS ARE NO LONGER AVAILABLE TO ADD TO A CONTRACT.

These are Guaranteed Minimum Withdrawal Benefits (GMWBs) that guarantee the withdrawal of minimum annual amounts for the duration of the life of the Owner (or, in the case of joint Owners, until the death of any joint Owner) and, if for two Covered Lives,* until the death of the Owner and the Owner’s spouse.  The amount of withdrawals that you can make will depend on how you combine the many optional features under these GMWBs, but we guarantee the minimum annual withdrawal amount regardless of the performance of the underlying investment options.

* LifeGuard Freedom Flex with Joint Option GMWB provides for coverage for the life of the Owner and Owner’s spouse (“Covered Lives”).  In the case of tax-qualified Contracts owned by a natural person, the Owner and the primary spousal Beneficiary named as of the effective date of this endorsement will each be considered a Covered Life. On non-qualified LifeGuard Freedom Flex with Joint Option GMWB Contracts owned by natural persons, the spousal joint Owners will each be considered a Covered Life.

These GMWBs permit, prior to being added to the Contract, a selection among combinations of the following optional features (Options):
 
●
a range of bonus percentage amounts,
●
annual or quarterly Contract Value step-ups (quarterly step-ups are applied annually based on the highest quarterly Contract Value), and
●
an optional death benefit.
 
Following is a summary of the available combinations of Options:

LifeGuard Freedom Flex GMWB -
Available Option Combinations
     
 
Step-Up
  
 
Bonus
Annual or Highest Quarterly
Contract Value
Freedom Flex
Death Benefit (DB)
     
5%
Annual
  
5%***
Quarterly
  
6%
Annual
Yes*
6%***
Quarterly
  
7%
Annual
  
7%***
Quarterly
  
 
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LifeGuard Freedom Flex with Joint Option GMWB-
Available Option Combinations
 
 
Step-Up
  
 
Annual or Highest Quarterly
  
Bonus
Contract Value
  
     
5%
Annual
  
5%****
Quarterly
  
6%
Annual
  
6%**
Quarterly
  
7%
Annual
  

*This Guaranteed Death Benefit is only available in conjunction with the purchase of the 6% Bonus and Annual Step-Up combination of options within the LifeGuard Freedom Flex GMWB  (the “LifeGuard Freedom Flex GMWB 6% Bonus and Annual Step-Ups”).
** No longer offered on or after September 10, 2012.
*** No longer offered on or after April 29, 2013.
****No longer offered on or after October 15, 2012.

These GMWBs may be appropriate for those individuals who are looking for a combination of Options within a GMWB that differs from the combinations of specified similar features offered by Jackson under other GMWBs.  Thus, the LifeGuard Freedom Flex GMWB and LifeGuard Freedom Flex with Joint Option GMWB allow the Owner (or the Owner and the Owner’s spouse), with the assistance of his or her representative, to select an available combination of Options, consistent with a variety of considerations, such as: his or her expectations of market performance; anticipated timing of subsequent Premiums; needs for future guaranteed annual percentage of withdrawals; expectation of need for early or unscheduled withdrawals to fund then current living expenses and obligations; marital and family status; and tax-qualified or non-tax-qualified purpose of the investment.

Differences in the percentage of a Bonus Option or differences in the method of computing Contract Value for purposes of a step-up Option do not otherwise affect the operation of the resulting combination of Options.

References to “this GMWB” apply to each of the GMWBs, LifeGuard Freedom Flex GMWB and LifeGuard Freedom Flex with Joint Option GMWB, including all of the available combinations of Options and the GAWA% tables that may be available that each provides, as discussed below.  In addition, as disclosed in the Fees and Expenses Tables, the charges of each GMWB will vary depending on the mix of Options and the GAWA% table selected . Upon selection of the Options and a request for one of these GMWBs received in Good Order, the Owner will receive an endorsement to the Contract reflecting the selection of Options.

Each combination of Options, other than the combination that includes the LifeGuard Freedom Flex DB (for information about the LifeGuard Freedom Flex DB, please see “LifeGuard Freedom Flex DB” under “Optional Death Benefits”, beginning on page 142) is offered to Owners between the ages of 35 and 80.  As explained below with regard to both the LifeGuard Freedom Flex GMWB and LifeGuard Freedom Flex with Joint Option GMWB, the timing and amounts of withdrawals have a significant impact on the amount and duration of benefits.  The cumulative costs of these GMWBs also are greater the longer the duration of ownership.  The closer you are to retirement the more reliably you may be able to forecast your needs to make withdrawals prior to the ages where the amounts of certain benefits (such as the For Life Guarantee (59 1/2) and the GWB adjustment (70)) are locked-in.  Conversely, forecasts at younger ages may prove less reliable.  You should undertake careful consideration and thorough consultation with your representative or retirement planning agent as to the financial resources and age of the Owner/Annuitant and the value to you of the potentially limited downside protection that this GMWB might provide.

These GMWBs may not be terminated by the Owner independently from the Contract to which they are attached.

The following description of this GMWB is supplemented by the examples in Appendix D under section “V. LifeGuard Freedom Flex”, particularly example 3 for the varying benefit percentage, examples 8 and 9 for the step-ups and example 13 for the guaranteed withdrawal balance adjustment.

This GMWB guarantees partial withdrawals during the Contract’s accumulation phase (i.e., before the Income Date) subject to the following:
     
●
The guarantee lasts for the duration of the Owner’s life (the “For Life Guarantee”) if the For Life Guarantee is in effect;
 
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  The For Life Guarantee is based on the life of the single Owner or the first Owner to die if there are joint Owners.  There are also other GMWB options for joint Owners that are spouses, as described below.
     
  For the Owner that is a legal entity, the For Life Guarantee is based on the Annuitant’s life (or the life of the first Annuitant to die if there is more than one Annuitant).
     
  The For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the Owner (or with joint Owners, the oldest Owner) attaining the age of 59 1/2.  If the Owner (or oldest Owner) is 59 1/2 years old or older on the endorsement’s effective date, then the For Life Guarantee is effective when this GMWB is added to the Contract.
     
  If the For Life Guarantee is in effect, it will be terminated if a withdrawal exceeds the permissible amounts and reduces the Contract Value to zero.  (Please see the “Contract Value is Zero” subsection below to understand what happens when the Contract Value is reduced to zero.)  Otherwise, the For Life Guarantee remains effective until the date this GMWB endorsement is terminated or until the Continuation Date on which this GMWB endorsement is continued under spousal continuation.  Please see the “Termination” subsection below to understand under what conditions this GMWB endorsement and, accordingly, the For Life Guarantee can be terminated.
     
  In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee and it will never become effective.  See “Contract Value is Zero” below for more information.
   
 
●
If the For Life Guarantee is not in effect, the guarantee lasts until the earlier of (1) the date of death of the Owner (or any joint Owner) or (2) the date when all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.
   
 
The GWB is the guaranteed amount available for future periodic withdrawals.
   
 
In the event of the Owner’s death, a spousal Beneficiary may continue this GMWB endorsement under spousal continuation.  In that event, the GWB is payable until depleted.  (Please see the “Spousal Continuation” subsection below for more information.)  If the Beneficiary is a non-spousal Beneficiary, the GWB is void and this endorsement is terminated; therefore, the Owner’s death may have a significant negative impact on the value of this GMWB endorsement and cause the endorsement to prematurely terminate.
 
Please consult the representative who is helping, or who helped, you purchase your Contract to be sure that this GMWB and the combination of Options you ultimately choose suit your needs and are consistent with your expectations.

This GMWB is available to Owners 35 to 80 years old, or 35 to 67 (70 for endorsements issued before April 29, 2013) years old if you select the Option combination that includes the LifeGuard Freedom Flex DB, (proof of age is required).  This GMWB may be added to a Contract on the Issue Date or on any Contract Anniversary.  Please note, while this GMWB may be added to a Contract on any Contract Anniversary (subject to availability), the LifeGuard Freedom Flex DB is not available after issue and can only be added on the Issue Date.  Once added this GMWB cannot be cancelled except by a Beneficiary who is the Owner’s spouse, who, upon the Owner’s death, may elect to continue the Contract without the GMWB.  If you want to elect this GMWB after the Contract Issue Date on a Contract Anniversary (subject to availability), we must receive a request in Good Order within 30 calendar days prior to the Contract Anniversary.  This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract).  Availability of the GMWB may be subject to further limitation.

We allow ownership changes of a Contract with this GMWB (i) from an individual Owner that is a natural person to a trust, if that individual and the Annuitant are the same person or (ii) when the Owner is a legal entity, to another legal entity or the Annuitant.  However, we do not allow these Ownership changes if they are a taxable event under the Code. In certain circumstances, we may permit the elimination of a joint Owner in the event of divorce. For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not described above as a permitted change, will result in termination of the GMWB.  Otherwise, changes of Owner are not allowed.  When the Owner is a legal entity, changing Annuitants is not allowed.
 
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There is a limit on withdrawals each Contract Year to keep the guarantees of this GMWB in full effect – the greater of the Guaranteed Annual Withdrawal Amount (GAWA) and for certain tax-qualified Contracts, the required minimum distribution (RMD) under the Internal Revenue Code.  Withdrawals exceeding the limit do not invalidate the For Life Guarantee, but cause the GWB and GAWA to be recalculated.  Please see “Election” and “Withdrawals” below for more information about the GWB and GAWA.
 
Election. The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB for all combinations of Options.
 
When this GMWB is added to the Contract
o n the Issue Date –
The GWB equals initial Premium net of any applicable Premium taxes, plus(for endorsements issued before April 29, 2013) any Contract Enhancements.
 
The GAWA is determined based on the Owner’s (or oldest joint Owner’s) attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  See the GAWA percentage table below.
 
 
When this GMWB is added to the Contract on any
Contract Anniversary, subject to availability –
The GWB equals Contract Value, minus (for endorsements issued on or after April 29, 2013) any recapture charges that would be assessed on a full withdrawal.
 
The GAWA is determined based on the Owner’s (or oldest joint Owner’s) attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  See the GAWA percentage table below.
 
For endorsements issued on or after April 29, 2013, Contract Enhancements and the corresponding recapture charges are not included in the calculation of the GWB when this GMWB is added to the Contract on the Issue Date.  This is why Premium (net of any applicable Premium taxes) is used to calculate the GWB.  On Contracts with a Contract Enhancement, the result is a GWB that is less than Contract Value when this GMWB is added to the Contract. For endorsements issued before April 29, 2013, please note that while Contract Enhancements are effectively included in the GWB calculations at and after issue, potential recapture charges are not included at either time.  (See Examples 1 and 2 in Appendix D under section “V.  LifeGuard Freedom Flex”.)

The GWB can never be more than $5 million (including upon step-up, the application of a GWB adjustment or the application of any bonus), and the GWB is reduced by each withdrawal.

PLEASE NOTE:  Upon the Owner’s or any joint Owner’s death, the For Life Guarantee is void.  However, this GMWB might be continued by a spousal Beneficiary without the For Life Guarantee.  Please see the “Spousal Continuation” subsection below for more information. If the For Life Guarantee is not in effect, upon the death of the Owner or the death of any joint Owner or the depletion of the GWB, all payments will cease and Spousal Continuation is not available.

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

There are five different GAWA% tables that may be available, each of which provides different GAWA percentages with different charges. The GAWA% tables, listed from the table offering the lowest GAWA percentages for each age group to the table offering the highest GAWA percentages for each age group, are: the Income Stream Level 1 GAWA% Table; the Income Stream Level 2 GAWA% Table; the Income Stream Level 3 GAWA% Table; the Income Stream Level 4 GAWA% Table; and the Income Stream Level 5 GAWA% Table. We reserve the right to prospectively restrict the availability of the GAWA% tables.  Therefore, not all GAWA% tables may be available at the time you are interested in electing this GMWB. Please contact your representative, or contact us at our Annuity Service Center, for information regarding the current availability of the GAWA% tables.
 
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The GAWA percentages for each age group, depending on which GAWA% table you elect, are as follows:

For Endorsements Issued On Or After September 15, 2014:

Ages
Income Stream
Level 1
GAWA% Table
Income Stream
Level 2
GAWA% Table
Income Stream
Level 3
GAWA% Table
Income Stream
Level 4
GAWA% Table
Income Stream
Level 5
GAWA% Table
35 – 64
3.00%
3.25%
3.50%
3.75%
4.00%
65 – 74
4.00%
4.25%
4.50%
4.75%
5.00%
75 – 80
4.50%
4.75%
5.00%
5.25%
5.50%
81+
5.00%
5.25%
5.50%
5.75%
6.00%

If your endorsement was issued before September 15, 2014, different GAWA percentages than those reflected in the above table may apply. Please refer to your Contract endorsement and the related prospectus disclosure for the GAWA percentages applicable under your Contract at the time of purchase. If you need assistance finding this information, please contact your representative, or contact us at our Annuity Service Center. Our contact information is on the first page of the prospectus.

We reserve the right to prospectively change the GAWA percentages, including the age bands, on new GMWB endorsements.  We recommend you check with your representative to learn about the current level of the GAWA percentages, or contact us at our Annuity Service Center for more information.  Our contact information is on the first page of the prospectus. If we change the GAWA percentages described above, we will follow these procedures:
1) When we issue your Contract we will deliver a copy of the prospectus that includes the notice of change of GAWA percentages in the form of a prospectus update to you.  You will have until the end of the Free Look period to cancel your Contract and this GMWB by returning the Contract to us pursuant to the provisions of the Free Look section (please see “Free Look” on page 149).
2) If you are an existing Owner and are eligible to elect this GMWB after the Issue Date, at the time we change the GAWA percentages we will send you the notice of change of GAWA percentages in the form of a prospectus update. If you later elect this GMWB, when we receive your election, we will send you the required endorsement with a duplicate notice of change of GAWA percentages. You will have 30 days after receiving the notice to cancel your election of this GMWB by returning the endorsement to us.
In each case, the actual GAWA percentages will be reflected in your Contract endorsement.

In connection with a change of GAWA percentages, as described above, we may continue to offer the existing GAWA percentages, in effect prior to the change, as an Optional GAWA% table at an increased charge. The increased charge for any combination of options under the Freedom Flex GMWB will not be greater than the maximum annual charges shown in the charge tables, which in no event exceed 3.00%. For the charges for each GMWB, please see the section for the applicable GMWB appearing under “Contract Charges” beginning on page 30. Also, please see the “Optional Endorsements” table under the “FEES AND EXPENSES TABLES” beginning on page 4. The Optional GAWA% table will maintain the GAWA percentages for each age group that were available before the change as reflected in the above table.  If we offer the Optional GAWA% table, the notice of change in the form of a prospectus update, that will be delivered to you, will describe both the change to the GAWA percentages, and the Optional GAWA% table and related charges. We reserve the right to prospectively change the GAWA percentages in the Optional GAWA% table, including the age bands, on new GMWB endorsements subject to the notices and procedures described above.

Withdrawals cause the GWB to be recalculated.  Withdrawals will also cause the GAWA to be recalculated if the withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA).  In such case, the recalculation of the GAWA will occur whether or not the For Life Guarantee is in effect.  If the GWB is less than the GAWA at the end of any Contract Year and the For Life Guarantee is not in effect, the GAWA will be set equal to the GWB.  This may occur, when over time, payment of the guaranteed withdrawals is nearly complete, the For Life Guarantee is not in effect and the GWB has been depleted to a level below the GAWA. The tables below clarify what happens in each instance.  (RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only.  There is no RMD for non-qualified Contracts.)  In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee and it will never become effective.  See “Contract Value is Zero” below for more information.

For certain tax-qualified Contracts, this GMWB allows withdrawals greater than GAWA to meet the Contract’s RMD without compromising the endorsement’s guarantees.  Examples 6, 7 and 9 in Appendix D under section “V. LifeGuard Freedom Flex” supplement this description.  Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, please see “RMD NOTES” under “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” on page 57, for more information.
 
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When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, as applicable –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the withdrawal less the withdrawal; Or
 
    ●
Zero.
       
 
The GAWA is unchanged.
 
The GAWA is not reduced if all withdrawals during any one Contract Year do not exceed the greater of the GAWA or RMD, as applicable.  The GAWA will be reduced at the end of a Contract Year to equal the GWB if the For Life Guarantee is not in effect and the GWB is nearly depleted, resulting in a GWB that is less than the GAWA.  You may withdraw the greater of the GAWA or RMD, as applicable, all at once or throughout the Contract Year.  Withdrawing less than the greater of the GAWA or RMD, as applicable, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, as applicable, in the next Contract Year.  The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.

Withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 7 in Appendix D under section “V. LifeGuard Freedom Flex”). In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount.  The GAWA is also likely to be reduced.  Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit.
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or RMD, as applicable –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
 
      ●
Zero.
         
   
The GAWA is recalculated as follows:
         
      ●
The GAWA prior to the partial withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.
 
The Excess Withdrawal is defined to be the lesser of:

●
The total amount of the current partial withdrawal, or

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

Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any withdrawal charges, asset allocation fees, recapture charges and other charges or adjustments.  Any withdrawals from Contract Value allocated to a Fixed Account Option may be subject to an Excess Interest Adjustment.  For more information, please see “THE FIXED ACCOUNT AND GMWB FIXED ACCOUNT” beginning on page 13.  Withdrawals may be subject to a recapture charge on any Contract Enhancement.  Withdrawals in excess of free withdrawals may be subject to a withdrawal charge.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts, withdrawals of asset allocation and advisory fees, and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

If the age of any Owner is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age.  Any future GAWA percentage recalculation will be based on the correct age.  If the age at election of the Owner (or oldest joint Owner) falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.
 
110
 
Withdrawals made under section 72(t) or section 72(q) of the Code are not considered RMDs for purposes of preserving the guarantees under this GMWB.  Such withdrawals that exceed the GAWA will have the same effect as any withdrawal or excess withdrawal as described above and, consistent with that description, may cause a significant negative impact to your benefit.

Guaranteed Withdrawal Balance Adjustment.  If no withdrawals are taken from the Contract on or prior to the GWB Adjustment Date (as defined below), then you will receive a GWB adjustment.  Tax-qualified plan Contract owners should consider the impact of Required Minimum Distributions on this benefit since any withdrawal from the Contract will void the GWB adjustment.

The GWB Adjustment Date is the later of:

●
The Contract Anniversary on or immediately following the Owner’s (or oldest joint Owner’s) 70th birthday, Or

●
The 12th  Contract Anniversary (10th Contract Anniversary for endorsements issued before April 29, 2013) following the effective date of this endorsement.

The GWB adjustment is determined as follows:

●
On the effective date of this endorsement, the GWB adjustment is equal to 200% of the GWB, subject to a maximum of $5,000,000.

●
With each subsequent Premium received after this GMWB is effective and prior to the first Contract Anniversary following this GMWB’s effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the Premium payment plus 200% of the sum of i) the Premium payment, net of any applicable Premium taxes, and ii) (for endorsements issued before April 29, 2013) any Contract Enhancement, subject to a maximum of $5,000,000.  (See Examples 4 and 5 in Appendix D under section “V. LifeGuard Freedom Flex”.)

●
With each subsequent Premium received on or after the first Contract Anniversary following this GMWB’s effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the Premium payment plus the amount of the Premium payment, net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancements, subject to a maximum of $5,000,000.  (See Examples 4 and 5 in Appendix D under section “V. LifeGuard Freedom Flex”.)

If no partial withdrawals are taken on or prior to the GWB Adjustment Date, the GWB will be re-set on that date to equal the greater of the current GWB or the GWB adjustment.  No adjustments are made to the Bonus Base or the Benefit Determination Baseline (explained below under “Step-up”).  Once the GWB is re-set, this GWB adjustment provision terminates.  In addition, if a withdrawal is taken on or before the GWB Adjustment Date, this GWB adjustment provision terminates without value.  (Please see example 13 in Appendix D under section “V. LifeGuard Freedom Flex” for an illustration of this GWB adjustment provision.)

Premiums.
         
With each subsequent Premium payment on the Contract –
  
The GWB is recalculated, increasing by the amount of the Premium net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancements.
       
   
If the Premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
         
      ●
The GAWA percentage multiplied by the sum of i) the subsequent Premium payment net of any applicable Premium taxes, and ii) (for endorsements issued before April 29, 2013) any Contract Enhancement; Or
 
      ●
The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.
 
We require prior approval for a subsequent Premium payment that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments.  The GWB can never be more than $5 million.  See Examples 4b and 5b in Appendix D under section “V. LifeGuard Freedom Flex” to see how the GWB is recalculated when the $5 million maximum is hit.
 
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Step-up.  On each Contract Anniversary following the effective date of this GMWB, if the Contract Value is greater than the GWB, the GWB will be automatically re-set to the Contract Value by one of two calculation methods, which must be selected by you at issue and once selected can not be changed.  Under one method the GWB will be reset to the Contract Value on that Contract Anniversary  (the “Contract Anniversary Value”) for the applicable 5, 6, and 7% Bonus Options. Under the other method the GWB will be reset annually on each Contract Anniversary to the highest quarterly Contract Value, as described immediately below for the applicable 5, 6, and 7% Bonus Options  (“Highest Quarterly Contract Value”).
 
The Contract Anniversary Value method, as opposed to the Highest Quarterly Contract Value method, is determined solely by reference to and use of the Contract Value on that Contract Anniversary.

The Highest Quarterly Contract Value is determined by reference to and use of the Contract Values on the highest of the four prior quarterly Contract Values as follows:

The Highest Quarterly Contract Value is equal to the highest of the quarterly adjusted Contract Values from the four most recent Contract Quarterly Anniversaries, including the Contract Anniversary upon which the step-up is determined. The quarterly adjusted Contract Value is equal to the Contract Value on the Contract Quarterly Anniversary, plus any Premium paid subsequent to that Contract Quarterly Anniversary, net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancements, adjusted for any partial withdrawals taken subsequent to that Contract Quarterly Anniversary.

Partial withdrawals will affect the quarterly adjusted Contract Value as follows:
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, as applicable –
  
The quarterly adjusted Contract Value is equal to the greater of:
       
    ●
The quarterly adjusted Contract Value before the withdrawal less the withdrawal; Or
 
    ●
Zero.
 
 
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or RMD, as applicable –
  
The quarterly adjusted Contract Value is equal to the greater of:
       
    ●
The quarterly adjusted Contract Value prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see above), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
 
    ●
Zero.
 
In addition to an increase in the GWB, a step-up allows for a potential increase in the GAWA percentage in the event that the step-up occurs after the first withdrawal.  The value used to determine whether the GAWA percentage will increase upon step-up is called the Benefit Determination Baseline (BDB).  The initial BDB equals (a) the initial Premium net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancements if this GMWB is elected at issue or (b) the Contract Value on the Contract Anniversary on which the endorsement is effective, if elected after issue, as subject to availability.
 
Upon step-up, if the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value, is greater than the BDB and the step-up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the Owner’s (or the oldest joint Owner’s) attained age.  If an age band is crossed, the GAWA percentage will be increased.  For example, assume an Owner was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 4.75% (assuming Income Stream Level 4 was elected) .  Also assume that, when the Owner is age 76, a step-up occurs and the applicable Contract Value is greater than the BDB; in that case, the GAWA percentage will be re-determined based on the Owner’s attained age of 76, resulting in a new GAWA percentage of 5.25%.

Upon step-up, if the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value, is not greater than the BDB prior to step-up, the GAWA percentage remains unchanged regardless of whether an age band has been crossed.
 
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In the event that the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value, is greater than the BDB, the BDB is set equal to that greater Contract Value.  The purpose of this re-set is to increase the BDB that will be used to determine whether the GAWA percentage will increase upon a future step-up if an age band is crossed.

Withdrawals do not affect the BDB.  Subsequent Premium payments increase the BDB by the amount of the Premium net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancements.  In addition, unlike the GWB, the BDB is not subject to any maximum amount.  Therefore, it is possible for the BDB to be more than $5 million.
         
With a step-up –
  
The GWB equals the Contract Value, as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value. (subject to a $5 million maximum).
     
   
If the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value, is greater than the BDB is prior to the step-up, then the BDB is set to equal that greater Contract Value (not subject to any maximum amount); and, if the step-up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the Owner.
         
      ●
If there are joint Owners, the GAWA percentage is recalculated based on the oldest joint Owner.
         
      ●
The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation.
         
   
For all Contracts to which this GMWB is added, if the step-up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
         
      ●
The GAWA percentage (as adjusted by any increase that occurs pursuant to the same step-up) multiplied by the new GWB, Or
 
      ●
The GAWA prior to step-up.
 
PLEASE NOTE: Withdrawals from the Contract reduce the GWB and Contract Value but do not affect the BDB.  In the event of withdrawals, the BDB remains unchanged.  Therefore, because the Contract Value must be greater than the BDB prior to step-up in order for the GAWA percentage to increase, a GAWA percentage increase may become less likely when withdrawals are made from the Contract.

Upon step-up on or after the 2nd Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge for each available combination of Options.

You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups.  Such election must be received in Good Order prior to the Contract Anniversary.  Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus.  While electing to discontinue the automatic step-ups will prevent an increase in the charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  (Please see the “Bonus” subsection below for more information.)  Also know that you may subsequently elect to reinstate the step-up provision together with the GWB bonus provision at the then current GMWB Charge. All requests will be effective on the Contract Anniversary following receipt of the request in Good Order, and any reinstatement of the GWB bonus provision will not reinstate any bonus that would have been credited during the period when the GWB bonus provision was discontinued.

The GWB can never be more than $5 million with a step-up. However, the BDB is not subject to a $5 million maximum; therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum because automatic step-ups still occur if the Contract Value is greater than the BDB.  For example, assume the GWB and BDB are equal to $5 million prior to a step-up.  Also assume that the GAWA percentage is 4.75% and the GAWA is $237,500.  If, at the time of step-up, the Contract Value is $6 million, a step-up will occur.  The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million.  If an age band has been crossed and the GAWA percentage for the Owner’s attained age is 5.25%, then the GAWA will be equal to $262,500 (5.25% x $5 million).
 
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Please consult the representative who helped you purchase your Contract to be sure if a step-up is right for you, which Contract Value is used to calculate the step-up, and about any increase in charges upon a step-up. Upon step-up, the applicable GMWB charge will be reflected in your confirmation.

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

Also see the “LifeGuard Freedom Flex DB” under “Optional Death Benefits”, beginning on page 142, for the death benefit that differs from the Contract’s death benefit and is available only at issue and in combination with the selection of the 6% Bonus, and the Annual Anniversary Contract Value Step-up.

Contract Value Is Zero.  With this GMWB, in the event the Contract Value is zero, the Owner will receive annual payments of the GAWA until the death of the Owner (or the death of any joint Owner), so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase.  If the For Life Guarantee is not in effect, the Owner will receive annual payments of the GAWA until the earlier of the death of the Owner (or the death of any joint Owner) or the date the GWB, if any, is depleted, so long as the Contract is still in the accumulation phase.  The last payment will not exceed the remaining GWB at the time of payment.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner’s (or oldest joint Owner’s) attained age at the time the Contract Value falls to zero and the GAWA will be equal to the GAWA percentage multiplied to the GWB.
         
After each payment when the Contract Value is zero –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the payment less the payment; Or
 
    ●
Zero.
       
 
The GAWA is unchanged. At the end of each Contract Year, if the GWB is less than the GAWA and the For Life Guarantee is not in effect, the GAWA is set equal to the GWB.
 
Subject to the Company’s approval, you may elect to receive p ayments more frequently than annually.  If you die, all rights under your Contract cease . N o subsequent Premium payments will be accepted . A ll optional endorsements terminate without value . A nd no death benefit is payable, including the Earnings Protection Benefit and the LifeGuard Freedom Flex DB.

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

●
Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase.  (The date the spousal Beneficiary’s election to continue the Contract is in Good Order is called the Continuation Date.)
 
   
○
Upon the Owner’s death, the For Life Guarantee is void.
 
   
○
Only the GWB is payable while there is value to it (until depleted).
 
   
○
The GWB adjustment provision is void.
 
   
○
Step-ups will continue as permitted in accordance with the step-up rules above.
 
   
○
Contract Anniversaries will continue to be based on the Contract’s Issue Date.
 
   
○
If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the original Owner’s (or oldest joint Owner’s) attained age on the continuation date (as if that person survived to that date).  The GAWA percentage will not change on future step-ups, even if the Contract Value, as determined based on (as applicable) either the Contract Anniversary Value or the Highest Quarterly Contract Value, exceeds the BDB.
 
   
○
The Latest Income Date is based on the age of the surviving spouse.  Please refer to “Annuitization” subsection below for information regarding the availability of the “Specified Period Income of the GAWA” option if the GWB has been continued by a spousal Beneficiary upon the death of the original Owner.
 
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●
Continue the Contract without this GMWB (GMWB is terminated).
 
●
Add this GMWB to the Contract on any Contract Anniversary after the Continuation Date, subject to the Beneficiary’s eligibility – if the spousal Beneficiary terminated the GMWB in continuing the Contract.

For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 144.

Termination.  This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last quarterly or monthly charge and all benefits cease on the earliest of:
 
●
The Income Date;
 
●
The date of complete withdrawal of Contract Value (full surrender of the Contract);
 
   
In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.
 
●
Conversion of this GMWB (if conversion is permitted);
 
●
The date of the Owner’s death (or any Owner’s death with joint Owners), unless the Beneficiary who is the Owner’s spouse elects to continue the Contract with the GMWB;
 
●
The Continuation Date if the spousal Beneficiary elects to continue the Contract without the GMWB; or
 
●
The date all obligations for payment under this GMWB are satisfied after the Contract has terminated pursuant to the termination provisions of the Contract.

This GMWB may not otherwise be terminated independently from termination of the Contract.

Annuitization.

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

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

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

This income option provides payments in a fixed dollar amount for a specific number of years.  The actual number of years that payments will be made is determined on the calculation date by dividing the GWB by the GAWA. Upon each payment, the GWB will be reduced by the payment amount, and no payments will be made in excess of the remaining GWB. The annual amount payable will equal the GAWA, except that the last payment may be a smaller amount equal to the then-remaining GWB.  This annualized amount will be paid over the specific number of years in the frequency (no less frequently than annually) that the Owner selects.  If the Owner should die before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.
 
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The “Specified Period Income of the GAWA” income option may not be available if the Contract is issued as a tax qualified Contract under Sections 401, 403, 408 or 457 of the Internal Revenue Code.  For such Contracts, this income option will only be available if the guaranteed period is less than the life expectancy of the spouse at the time the option becomes effective.

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 65 for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

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

Bonus.  The primary purpose of the bonus is to act as an incentive for you to defer taking withdrawals.  A bonus equal to 5, 6, or 7% of the Bonus Base (defined below) will be applied to the GWB at the end of each Contract Year within the Bonus Period (also defined below) if no withdrawals are taken during that Contract Year.  The percentage that actually applies under your GMWB is the one that is included as the bonus rate in the combination of Options that you elect. The bonus enables the GWB and GAWA to increase in a given Contract Year (even during a down market relative to your Contract Value allocated to the Investment Divisions).  The increase, however, may not equal the amount that your Contract Value has declined.  This description of the bonus feature is supplemented by the examples in Appendix D under section “V. LifeGuard Freedom Flex”, particularly example 10.  The box below has more information about the bonus, including:

●
How the bonus is calculated;
 
●
What happens to the Bonus Base (and bonus) with a withdrawal, Premium payment, and any step-up;
 
●
For how long the bonus is available; and
 
●
When and what happens when the bonus is applied to the GWB.
 
 
The bonus equals 5, 6, or 7% of the Bonus Base.  The Bonus Base may vary after this GMWB is added to the Contract, as described immediately below.
       
  ● When this GMWB is added to the Contract, the Bonus Base equals the GWB.
     
  ●
With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA and the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal.  Otherwise, there is no adjustment to the Bonus Base with withdrawals.
       
   
○
All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; withdrawals of asset allocation and advisory fees; and free withdrawals under the Contract.
       
   
○
 A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
       
   ● With a Premium payment, the Bonus Base increases by the amount of the Premium payment net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancements.
       
  ● With any step-up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the step-up.
     
The Bonus Base can never be more than $5 million.
 
 
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The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year.  Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied.
 
When the bonus is applied:
       
  ● The GWB is recalculated, increasing by 5, 6, or 7% (as applicable) of the Bonus Base.
     
  ●
If the Bonus is applied after the first withdrawal (in a prior year), the GAWA is then recalculated, equaling the greater of the GAWA percentage multiplied by the new GWB or the GAWA before the bonus.
       
Applying the bonus to the GWB does not affect the Bonus Base, GWB adjustment or BDB.
 
The Bonus is only available during the Bonus Period. The Bonus Period begins on the effective date of this GMWB endorsement.  In addition, the Bonus Period will re-start at the time the Bonus Base increases due to a step-up so long as the step-up occurs on or before the Contract Anniversary immediately following the Owner’s (if joint Owners, the oldest Owner’s) 80th birthday.  (See example below.)
 
The Bonus Period ends on the earlier of:
       
  ● The tenth Contract Anniversary following (1) the effective date of the endorsement or (2) the most recent increase to the Bonus Base due to a step-up, if later; or
     
  ●
The date the Contract Value is zero.
   
 
  
The Bonus Base will continue to be calculated even after the Bonus Period expires.  Therefore, it is possible for the Bonus Period to expire and then re-start on a later Contract Anniversary if the Bonus Base increases due to a step-up  Such a restart, however, will not reinstate any bonus that would have been credited on a prior date that was not within a Bonus Period.
 
The purpose of the re-start provision is to extend the period of time over which the Owner is eligible to receive a bonus.  For example, assume this GMWB is added to a Contract on December 1, 201 5 .  At that time, the bonus period is scheduled to expire on December 1, 202 5 (which is the tenth Contract Anniversary following the effective date of the endorsement).  If a step-up increasing the Bonus Base occurs on the third Contract Anniversary following the effective date of the endorsement (December 1, 201 8 ), and the Owner is younger than age 80, the Bonus Period will re-start and will be scheduled to expire on December 1, 202 8 .  Further, assuming that the next Bonus Base increase due to a step-up does not occur until December 1, 20 30 (which is two years after the Bonus Period in this example expired) and that the Owner is still younger than age 80 at that time, the Bonus Period would re-start on December 1, 20 30 , and would be scheduled to expire on December 1, 20 40 .  (Please also see Examples 8 and 9 in Appendix D under section “V. LifeGuard Freedom Flex” for more information regarding the re-start provision.)
 
Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract’s Issue Date.
 

The description of this GMWB is supplemented by the examples in Appendix D under section “V. LifeGuard Freedom Flex”, particularly example 3 for the varying benefit percentage, examples 8 and 9 for the step-ups, example 12 for the For Life guarantees and example 13 for the guaranteed withdrawal balance adjustment. 

Except as otherwise discussed below, the election of this GMWB under a non-tax-qualified contract requires the joint Owners to be spouses (as defined under the Internal Revenue Code) and each joint Owner is considered to be a “Covered Life.”   In such cases, the Owners cannot be subsequently changed (except in the limited circumstances discussed below), and new Owners cannot be added.  Upon the death of either joint Owner, the surviving joint Owner will be treated as the primary Beneficiary and all other Beneficiaries will be treated as contingent Beneficiaries.  The For Life Guarantee will not apply to these contingent Beneficiaries, as they are not Covered Lives.

This GMWB is available on a limited basis under non-qualified Contracts for certain kinds of legal entities, such as (i) custodial accounts where the spouses are the joint Annuitants and (ii) trusts where the spouses are the sole beneficial owners and joint
 
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Annuitants.  In these cases, the spouses are the Covered Lives, and the For Life Guarantee is based on the Annuitant’s life who dies last.  We will allow changes (a) from joint individual ownership of non-qualified Contracts to ownership by the types of legal entities that we permit or (b) changes of ownership from such a legal entity to the Annuitants or to another such legal entity; however, we do not allow these ownership changes if they are a taxable event under the Code, and no changes of Annuitant subsequent to any such change are allowed.  For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not specifically described above as a permitted change, will result in termination of the GMWB. 

Tax-qualified Contracts cannot be issued to joint Owners and require the Owner and Annuitant to be the same person.  Under a tax-qualified Contract, the election of this GMWB requires the Owner and primary Beneficiary to be spouses (as defined in the Internal Revenue Code).  The Owner and only the primary spousal Beneficiary named at the election of this GMWB under a tax-qualified Contract will also each be considered a Covered Life, and these Covered Lives cannot be subsequently changed.

In certain circumstances we may permit the elimination of a joint Owner Covered Life or primary spousal Beneficiary Covered life in the event of divorce.  In such cases, new Covered Lives may not be named.

For tax-qualified Contracts, the Owner and primary spousal Beneficiary cannot be changed while both are living.  If the Owner dies first, the primary spousal Beneficiary will become the Owner upon Spousal Continuation and he or she may name a Beneficiary; however, that Beneficiary is not considered a Covered Life.  Likewise, if the primary spousal Beneficiary dies first, the Owner may name a new Beneficiary; however, that Beneficiary is also not considered a Covered Life and consequently the For Life Guarantee will not apply to the new Beneficiary.

This GMWB is also available on a limited basis under Qualified Custodial Account Contracts, pursuant to which the Annuitant and a Contingent Annuitant named at election of the GMWB must be spouses and will be the Covered Lives.  The only changes in these arrangements that we permit are that (i) the custodial owner may be changed or (ii) the ownership of the Contract may be transferred to the Annuitant if, at the same time as that transfer, the Contingent Annuitant is designated as the primary (spousal) Beneficiary.

For both non-qualified and tax-qualified Contracts, this GMWB guarantees partial withdrawals during the Contract’s accumulation phase (i.e., before the Income Date), subject to the following:

●
This guarantee lasts for the duration of the life of the last surviving Covered Life (the “For Life Guarantee”) if the For Life Guarantee is in effect;
 
 
   The For Life Guarantee becomes effective on the Contract Anniversary on or immediately following the youngest Covered Life attaining the age of 59 1/2.  If the youngest Covered Life is 59 1/2 years old or older on the endorsement’s effective date, then the For Life Guarantee is effective when this GMWB is added to the Contract.
     
    If the For Life Guarantee is in effect, it will be terminated if a withdrawal exceeds the permissible amounts and reduces the Contract Value to zero.  (Please see the “Contract Value is Zero” subsection below to understand what happens when the Contract Value is reduced to zero.)  Otherwise, the For Life Guarantee remains effective until the date this GMWB endorsement is terminated or until the Continuation Date on which a spousal Beneficiary who is not a Covered Life continues this GMWB endorsement under spousal continuation.  Please see the “Termination” subsection below to understand under what conditions this GMWB endorsement and, accordingly, the For Life Guarantee can be terminated.
     
    In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee and it will never become effective.  See “Contract Value is Zero” below for more information.
     
● If the For Life Guarantee is not in effect, the guarantee lasts until the earlier of (1) the date of the death of the last surviving Covered Life or (2) the date when all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value.
 
    The GWB is the guaranteed amount available for future periodic withdrawals.
 
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In the event of the last surviving Covered Life’s death, a spousal Beneficiary who is not a Covered Life may continue this GMWB endorsement under spousal continuation.  In that event, the GWB is payable until depleted.  (Please see the “Spousal Continuation” subsection below for more information.)  If the Beneficiary is a non-spousal Beneficiary, the GWB is void and this endorsement is terminated; therefore, the death of the last surviving Covered Life may have a significant negative impact on the value of this GMWB endorsement and cause the endorsement to prematurely terminate.
 
Because of the For Life Guarantee, your withdrawals could amount to more than the GWB.  But PLEASE NOTE:  The guarantees of this GMWB are subject to the endorsement’s terms, conditions, and limitations that are explained below.

Please consult the representative who is helping, or who helped, you purchase your Contract to be sure that this GMWB  and the combination of Options you ultimately choose suit your needs and are consistent with your expectations.

This GMWB is available to Covered Lives 35 to 80 years old (proof of age is required and both Covered Lives must be within the eligible age range). This GMWB may be added to a Contract on the Issue Date or on any Contract Anniversary. This GMWB cannot be canceled except by a spousal Beneficiary who is not a Covered Life, who, upon the Owner’s death, may elect to continue the Contract without the GMWB.  To continue Joint GMWB coverage upon the death of the Owner (or the death of either joint Owner of a non-qualified Contract), provided that the other Covered Life is still living, the Contract must be continued by election of Spousal Continuation.  Upon continuation, the spouse becomes the Owner and obtains all rights as the Owner.

If you want to elect this GMWB after the Contract Issue Date on a Contract Anniversary (subject to availability), we must receive a request in Good Order within 30 calendar days prior to the Contract Anniversary.  This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract).   Availability of this GMWB may be subject to further limitation.

There is a limit on withdrawals each Contract Year to keep the guarantees of this GMWB in full effect – the greater of the Guaranteed Annual Withdrawal Amount (GAWA) and for certain tax-qualified Contracts, the required minimum distribution (RMD) under the Internal Revenue Code.  Withdrawals exceeding the limit do not invalidate the For Life Guarantee, but cause the GWB and GAWA to be recalculated.  Please see “Election” and “Withdrawals” below for more information about the GWB and GAWA.

Election.  The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB for all combinations of Options.
 
When this GMWB is added to the Contract
on the Issue Date –
The GWB equals initial Premium net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement.
 
The GAWA is determined based on the youngest Covered Life’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  See the GAWA percentage table below.
 

When this GMWB is added To the Contract on any Contract Anniversary , subject to availability –
The GWB equals Contract Value, minus (for endorsements issued on or after September 16, 2013) any recapture charges that would be assessed on a full withdrawal.
 
The GAWA is determined based on the youngest Covered Life’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  See the GAWA percentage table below.
 
For endorsements issued on or after September 16, 2013, Contract Enhancements and the corresponding recapture charges are not included in the calculation of the GWB when this GMWB is added to the Contract on the Issue Date.  This is why Premium (net of any applicable Premium taxes) is used to calculate the GWB.  On Contracts with a Contract Enhancement, the result is a GWB that is less than Contract Value when this GMWB is added to the Contract.  For endorsements issued before September 16, 2013, please note that while Contract Enhancements are effectively included in the GWB calculations at and after issue, potential recapture charges are not included at either time. The GWB can never be more than $5 million (including upon step-up, the application of a GWB adjustment or the application of any Bonus), and the GWB is reduced by each withdrawal.  (See Examples 1 and 2 in Appendix D under section “V.  LifeGuard Freedom Flex”.)
 
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PLEASE NOTE:  Upon the Owner’s death, the For Life Guarantee is void unless this GMWB is continued by a spousal Beneficiary who is a Covered Life.  However, it is possible for this GMWB to be continued without the For Life Guarantee by a spousal Beneficiary who is not a Covered Life.  Please see the “Spousal Continuation” subsection below for more information.

Withdrawals.  The GAWA percentage and the GAWA are determined at the time of the first withdrawal.  The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  The GAWA percentage varies according to age group and is determined based on the youngest Covered Life’s attained age at the time of the first withdrawal.  (Elsewhere in this prospectus we refer to this varying GAWA percentage structure as the “varying benefit percentage”.)

There are three different GAWA% tables that may be available, each of which provides different GAWA percentages with different charges. The GAWA% tables, listed from the table offering the lowest GAWA percentages for each age group to the table offering the highest GAWA percentages for each age group, are: the Income Stream Level 1 GAWA% Table; the Income Stream Level 2 GAWA% Table; and the Income Stream Level 3 GAWA% Table. We reserve the right to prospectively restrict the availability of the GAWA% tables.  Therefore, not all GAWA% tables may be available at the time you are interested in electing this GMWB. Please contact your representative, or contact us at our Annuity Service Center, for information regarding the current availability of the GAWA% tables.

The GAWA percentages for each age group, depending on which GAWA% table you elect, are as follows:

For Endorsements Issued On Or After September 15, 2014:

Ages
Income Stream Level 1
GAWA% Table
Income Stream Level 2
GAWA% Table
Income Stream Level 3
GAWA% Table
35 – 64
3.00%
3.25%
3.50%
65 – 74
4.00%
4.25%
4.50%
75 – 80
4.50%
4.75%
5.00%
81+
5.00%
5.25%
5.50%

If your endorsement was issued before September 15, 2014, different GAWA percentages than those reflected in the above table may apply. Please refer to your Contract endorsement and the related prospectus disclosure for the GAWA percentages applicable under your Contract at the time of purchase. If you need assistance finding this information, please contact your representative, or contact us at our Annuity Service Center. Our contact information is on the first page of the prospectus.

We reserve the right to prospectively change the GAWA percentages, including the age bands, on new GMWB endorsements.  We recommend you check with your representative to learn about the current level of the GAWA percentages, or contact us at our Annuity Service Center for more information.  Our contact information is on the first page of the prospectus. If we change the GAWA percentages described above, we will follow these procedures:
1) When we issue your Contract we will deliver a copy of the prospectus that includes the notice of change of GAWA percentages in the form of a prospectus update to you.  You will have until the end of the Free Look period to cancel your Contract and this GMWB by returning the Contract to us pursuant to the provisions of the Free Look section (please see “Free Look” on page 149).
2) If you are an existing Owner and are eligible to elect this GMWB after the Issue Date, at the time we change the GAWA percentages we will send you the notice of change of GAWA percentages in the form of a prospectus update. If you later elect this GMWB, when we receive your election, we will send you the required endorsement with a duplicate notice of change of GAWA percentages. You will have 30 days after receiving the notice to cancel your election of this GMWB by returning the endorsement to us.
In each case, the actual GAWA percentages will be reflected in your Contract endorsement.

In connection with a change of GAWA percentages, as described above, we may continue to offer the existing GAWA percentages, in effect prior to the change, as an Optional GAWA% table at an increased charge. The increased charge for any combination of options under the Freedom Flex GMWB will not be greater than the maximum annual charges shown in the charge tables, which in no event exceed 3.00%. For the charges for each GMWB, please see the section for the applicable GMWB appearing under “Contract Charges” beginning on page 30. Also, please see the “Optional Endorsements” table under the “FEES AND EXPENSES TABLES” beginning on page 4. The Optional GAWA% table will maintain the GAWA percentages for each age group that were available before the change as reflected in the above table.  If we offer the Optional GAWA% table, the notice of change in the form of a prospectus update, that will be delivered to you, will describe both the change to the GAWA percentages, and the Optional GAWA% table and related charges. We reserve the right to prospectively change the GAWA percentages in the Optional GAWA% table, including the age bands, on new GMWB endorsements subject to the notices and procedures described above.

Withdrawals cause the GWB to be recalculated.  Withdrawals will also cause the GAWA to be recalculated if the withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the GAWA, or for certain tax-qualified Contracts only, the RMD (if greater
 
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than the GAWA).  In such case, the recalculation of the GAWA will occur whether or not the For Life Guarantee is in effect.  If the GWB is less than the GAWA at the end of any Contract Year and the For Life Guarantee is not in effect, the GAWA will be set equal to the GWB.  This may occur, when over time, payment of the guaranteed withdrawals is nearly complete, the For Life Guarantee is not in effect and the GWB has been depleted to a level below the GAWA. The tables below clarify what happens in each instance.  (RMD denotes the required minimum distribution under the Internal Revenue Code for certain tax-qualified Contracts only.  There is no RMD for non-qualified Contracts.)  In addition, if the For Life Guarantee is not yet in effect, withdrawals that cause the Contract Value to reduce to zero void the For Life Guarantee and it will never become effective.  See “Contract Value is Zero” below for more information.

For certain tax-qualified Contracts, this GMWB allows withdrawals greater than GAWA to meet the Contract’s RMD without compromising the endorsement’s guarantees.  Examples 6, 7 and 9 in Appendix D under section “V. LifeGuard Freedom Flex” supplement this description. Because the intervals for the GAWA and RMDs are different, namely Contract Years versus calendar years, and because RMDs are subject to other conditions and limitations, if your Contract is a tax-qualified Contract, please see “RMD NOTES” under Guaranteed Minimum Withdrawal Benefit Important Special Considerations” on page 57, for more information.
 
When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or RMD, as applicable –
  The GWB is recalculated, equaling the greater of:
 
 
●
The GWB before the withdrawal less the withdrawal; Or
 
 
●
Zero.
 
 
The GAWA is unchanged.
 
The GAWA is not reduced if all withdrawals during any one Contract Year do not exceed the greater of the GAWA or RMD, as applicable.  The GAWA will be reduced at the end of a Contract Year to equal the GWB if  the For Life Guarantee is not in effect and the GWB is nearly depleted, resulting in a GWB that is less than the GAWA.  You may withdraw the greater of the GAWA or RMD, as applicable, all at once or throughout the Contract Year.  Withdrawing less than the greater of the GAWA or RMD, as applicable, in a Contract Year does not entitle you to withdraw more than the greater of the GAWA or RMD, as applicable, in the next Contract Year.  The amount you may withdraw each Contract Year and not cause the GWB and GAWA to be recalculated does not accumulate.

Withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 7 in Appendix D under section “V. LifeGuard Freedom Flex”).  In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount.  The GAWA is also likely to be reduced.  Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit.
 
When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA or RMD, as applicable –
  
The GWB is recalculated, equaling the greater of:
 
    ●
The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
 
      ●
Zero.
         
   
The GAWA is recalculated as follows:
         
      ●
The GAWA prior to the partial withdrawal is reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.
 
The Excess Withdrawal is defined to be the lesser of:
 
●
The total amount of the current partial withdrawal, or
 
●
The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.

Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any withdrawal charges, asset allocation fees, recapture charges and other charges or adjustments.  Any withdrawals from Contract Value allocated to
 
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a Fixed Account Option may be subject to an Excess Interest Adjustment.  For more information, please see “THE FIXED ACCOUNT AND GMWB FIXED ACCOUNT” beginning on page 13.  Withdrawals may be subject to a recapture charge on any Contract Enhancements.  Withdrawals in excess of free withdrawals may be subject to a withdrawal charge.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, RMDs for certain tax-qualified Contracts, withdrawals of asset allocation and advisory fees, and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

If the age of any Covered Life is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age.  Any future GAWA percentage recalculation will be based on the correct age.  If the age at election of either Covered Life falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.

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

Guaranteed Withdrawal Balance Adjustment.  If no withdrawals are taken from the Contract on or prior to the GWB Adjustment Date (as defined below), then you will receive a GWB adjustment.  Tax-qualified plan Contract owners should consider the impact of Required Minimum Distributions on this benefit since any withdrawal from the Contract will void the GWB adjustment.

The GWB Adjustment Date is the later of:
 
●
The Contract Anniversary on or immediately following the youngest Covered Life’s 70th birthday, Or
 
●
The 12th Contract Anniversary (10th Contract Anniversary for endorsements issued before September 16, 2013) following the effective date of this endorsement.

The GWB adjustment is determined as follows:
 
●
On the effective date of this endorsement, the GWB adjustment is equal to 200% of the GWB, subject to a maximum of $5,000,000.
 
●
With each subsequent Premium received after this GMWB is effective and prior to the first Contract Anniversary following this GMWB’s effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the Premium payment plus 200% of the sum of i) the Premium payment, net of any applicable Premium taxes, and ii) (for endorsements issued before September 16, 2013) any Contract Enhancement, subject to a maximum of $5,000,000.  (See Examples 4 and 5 in Appendix D under section “V. LifeGuard Freedom Flex”.)
 
●
 
With each subsequent Premium received on or after the first Contract Anniversary following this GMWB’s effective date, the GWB adjustment is recalculated to equal the GWB adjustment prior to the Premium payment plus the amount of the Premium payment, net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancements, subject to a maximum of $5,000,000.  (See Examples 4 and 5 in Appendix D under section “V. LifeGuard Freedom Flex”.)

If no partial withdrawals are taken on or prior to the GWB Adjustment Date, the GWB will be re-set on that date to equal the greater of the current GWB or the GWB adjustment.  No adjustments are made to the Bonus Base or the Benefit Determination Baseline (explained below under “Step-Up”).  Once the GWB is re-set, this GWB adjustment provision terminates.  In addition, if a withdrawal is taken on or before the GWB Adjustment Date, this GWB adjustment provision terminates without value.  (Please see example 13 in Appendix D under section “V. LifeGuard Freedom Flex” for an illustration of this GWB adjustment provision.)
 
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Premiums.
 
With each subsequent Premium payment
on the Contract –
The GWB is recalculated, increasing by the amount of the Premium net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancements.
 
If the Premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
 
 
●
The GAWA percentage multiplied by the sum of i) the subsequent Premium payment net of any applicable Premium taxes, and ii) (for endorsements issued before September 16, 2013) any Contract Enhancement; Or
 
 
●
The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.
 
We require prior approval for a subsequent Premium payment that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments.  The GWB can never be more than $5 million.  See Examples 4b and 5b in Appendix D under section “V. LifeGuard Freedom Flex” to see how the GWB is recalculated when the $5 million maximum is hit.

Step-Up.  On each Contract Anniversary following the effective date of this GMWB, if the Contract Value is greater than the GWB, the GWB will be automatically re-set to the Contract Value by one of two calculation methods, which must be selected by you at issue and once selected can not be changed .  Under one method the GWB will be reset to the Contract Value on that Contract Anniversary  (the “Contract Anniversary Value”) for the applicable 5, 6, and 7% Bonus Options (a “step-up”). Under the other method the GWB will be reset annually on each Contract Anniversary to the highest quarterly Contract Value, as described immediately below, for the applicable 5% Bonus Option (“Highest Quarterly Contract Value “).  The step-up for the 7% Bonus Option is only available with the Contract Anniversary Value Step-Up Option.  (See Examples 8 and 9 in Appendix D under section “V.  LifeGuard Freedom Flex”.)

The Contract Anniversary Value method, as opposed to the Highest Quarterly Contract Value method, is determined solely by reference to and use of the Contract Value on that Contract Anniversary.

The Highest Quarterly Contract Value is determined by reference to and use of the Contract Values on the highest of the four prior quarterly Contract Values as follows:

The Highest Quarterly Contract Value is equal to the highest of the quarterly adjusted Contract Values from the four most recent Contract Quarterly Anniversaries, including the Contract Anniversary upon which the step-up is determined.  The quarterly adjusted Contract Value is equal to the Contract Value on the Contract Quarterly Anniversary, plus any Premium paid subsequent to that Contract Quarterly Anniversary, net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancements, adjusted for any partial withdrawals taken subsequent to that Contract Quarterly Anniversary.

Partial withdrawals will affect the quarterly adjusted Contract Value as follows:
 
When a withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the
greater of the GAWA or RMD, as applicable –
The quarterly adjusted Contract Value is equal to the greater of:
 
 
●
The quarterly adjusted Contract Value before the withdrawal less the withdrawal; Or
 
 
●
Zero.
 
 
When a withdrawal, plus all prior withdrawals in the current Contract Year, exceeds the greater of the
GAWA or RMD, as applicable –
The quarterly adjusted Contract Value is equal to the greater of:
 
 
●
The quarterly adjusted Contract Value prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see above), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
 
 
●
Zero.
 
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In addition to an increase in the GWB, a step-up allows for a potential increase in the GAWA percentage in the event that the step-up occurs after the first withdrawal.  The value used to determine whether the GAWA percentage will increase upon step-up is called the Benefit Determination Baseline (BDB).  The initial BDB equals (a) the initial Premium net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement, if this GMWB is elected at issue, or (b) the Contract Value less (for endorsements issued on or after September 16, 2013) any recapture charges that would be assessed on a full withdrawal, on the Contract Anniversary on which the endorsement is effective, if elected after issue, as subject to availability.

Upon step-up, if the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value, is greater than the BDB and the step-up occurs after the first withdrawal, the GAWA percentage will be re-determined based on the youngest Covered Life’s attained age.  If an age band is crossed, the GAWA percentage will be increased.  For example, assume the youngest Covered Life was age 73 at the time of the first withdrawal resulting in, according to the table above, a GAWA percentage of 4.50% (assuming Income Stream Level 3 was elected) .  Also assume that, when the youngest Covered Life is age 76, a step-up occurs and the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value is greater than the BDB; in that case, the GAWA percentage will be re-determined based on the youngest Covered Life’s attained age of 76, resulting in a new GAWA percentage of 5.00%.

Upon step-up, if the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value, is not greater than the BDB prior to step-up, the GAWA percentage remains unchanged regardless of whether an age band has been crossed.

In the event that the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value, is greater than the BDB, the BDB is set equal to that greater Contract Value.  The purpose of this re-set is to increase the BDB that will be used to determine whether the GAWA percentage will increase upon a future step-up if an age band is crossed.

Withdrawals do not affect the BDB.  Subsequent Premium payments increase the BDB by the amount of the Premium net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancement.  In addition, unlike the GWB, the BDB is not subject to any maximum amount.  Therefore, it is possible for the BDB to be more than $5 million.
         
With a step-up –
  
The GWB equals the Contract Value, as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, subject to a $5 million maximum.
 
If the Contract Value, as determined based on (as applicable) the Contract Anniversary Value or the Highest Quarterly Contract Value is greater than the BDB is prior to the step-up, then the BDB is set to equal that greater Contract Value (not subject to any maximum amount); and, if the step-up occurs after the first withdrawal, the GAWA percentage is recalculated based on the attained age of the youngest Covered Life.
         
      ●
The GAWA percentage will not be recalculated upon step-ups following Spousal Continuation if the spouse electing Spousal Continuation is not a Covered Life.
         
   
For all Contracts to which this GMWB is added, if the step-up occurs after the first withdrawal, the GAWA is recalculated, equaling the greater of:
         
      ●
The GAWA percentage (as adjusted by any increase  that occurs pursuant to the same step-up) multiplied by the new GWB, Or
 
      ●
The GAWA prior to step-up.
 
PLEASE NOTE: Withdrawals from the Contract reduce the GWB and Contract Value but do not affect the BDB.  In the event of withdrawals, the BDB remains unchanged.  Therefore, because the Contract Value must be greater than the BDB prior to step-up in order for the GAWA percentage to increase, a GAWA percentage increase may become less likely when withdrawals are made from the Contract.
 
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Upon step-up on or after the 2nd Contract Anniversary following the effective date of this GMWB, the GMWB charge may be increased, subject to the maximum annual charge for each available combination of Options. You will be notified in advance of a GMWB Charge increase and may elect to discontinue the automatic step-ups.  Such election must be received in Good Order prior to the Contract Anniversary.  Please be aware that election to discontinue the automatic step-ups will also discontinue the application of the GWB bonus.  While electing to discontinue the automatic step-ups will prevent an increase in charge, discontinuing step-ups and, therefore, discontinuing application of the GWB bonus also means foregoing possible increases in your GWB and/or GAWA so carefully consider this decision should we notify you of a charge increase.  (Please see the “Bonus” subsection below for more information.)  Also know that you may subsequently elect to reinstate the step-up provision together with the GWB bonus provision at the then current GMWB Charge.  All requests will be effective on the Contract Anniversary following receipt of the request in Good Order, and any reinstatement of the GWB bonus provision will not reinstate any bonuses that would have been credited during the period when the GWB bonus provision was discontinued.

The GWB can never be more than $5 million with a step-up.  However, the BDB is not subject to a $5 million maximum; therefore, it is still possible for the GAWA percentage to increase even when the GWB has hit its $5 million maximum because automatic step-ups still occur if the Contract Value is greater than the BDB.  For example, assume the GWB and BDB are equal to $5 million prior to a step-up.  Also assume that the GAWA percentage is 4.50% and the GAWA is $225,000.  If, at the time of step-up, the Contract Value is $6 million, a step-up will occur.  The GWB will remain at its maximum of $5 million but the BDB will be set equal to $6 million.  If an age band has been crossed and the GAWA percentage for the youngest Covered Life’s attained age is 5.00%, then the GAWA will be equal to $250,000 (5.00% x $5 million).

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

Owner’s Death.  The Contract’s death benefit is not affected by this GMWB so long as Contract Value is greater than zero and the Contract is still in the accumulation phase.  Upon the death of the sole Owner of a qualified Contract or the death of either joint Owner of a non-qualified Contract while the Contract is still in force, this GMWB terminates without value, unless continued by the surviving spouse.  Please see the information beginning on page 118 regarding the required ownership and beneficiary structure under both qualified and non-qualified Contracts when selecting this GMWB.

Contract Value Is Zero.  With this GMWB, in the event the Contract Value is zero, the Owner will receive annual payments of the GAWA until the death of the last surviving Covered Life, so long as the For Life Guarantee is in effect and the Contract is still in the accumulation phase.  If the For Life Guarantee is not in effect, the Owner will receive annual payments of the GAWA until the earlier of the death of the Owner (or the death of any joint Owner) or the date the GWB, if any, is depleted, so long as the Contract is still in the accumulation phase.  The last payment will not exceed the remaining GWB at the time of payment.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the youngest Covered Life’s attained age at the time the Contract Value falls to zero and the GAWA will be equal to the GAWA percentage multiplied to the GWB.
 
After each payment when the Contract Value is zero –
The GWB is recalculated, equaling the greater of:
 
 
●
The GWB before the payment less the payment; Or
 
 
●
Zero.
 
 
The GAWA is unchanged. At the end of each Contract Year, if the GWB is less than the GAWA and the For Life Guarantee is not in effect, the GAWA is set equal to the GWB.

Subject to the Company’s approval, you may elect to receive p ayments more frequently than annually.  Upon death of the last surviving Covered Life, all rights under the Contract cease.  No subsequent Premium payments will be accepted.  All optional endorsements terminate without value.  And no death benefit is payable, including the Earnings Protection Benefit.

Spousal Continuation.  In the event of the Owner’s (or either joint Owner’s) death, the surviving spousal Beneficiary may elect to:
 
●
Continue the Contract with this GMWB – so long as Contract Value is greater than zero, and the Contract is still in the accumulation phase.  (The date the spousal Beneficiary’s election to continue the Contract is in Good Order is called the Continuation Date.)
 
   
○
If the surviving spouse is a Covered Life, then the For Life Guarantee remains effective on and after the Continuation Date.
 
   
 
If the surviving spouse is not a Covered Life, the For Life Guarantee is null and void.  However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted. 
 
 
125
 
     
 
   
○
For a surviving spouse who is a Covered Life, continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee.  The For Life Guarantee is not a separate guarantee and only applies if the related GMWB has not terminated.
 
   
○
If the surviving spouse is a Covered Life and a GWB adjustment provision is in force on the Continuation Date then the provision will continue to apply in accordance with the applicable GWB adjustment provision rules above.  The GWB Adjustment Date will continue to be based on the original effective date of the endorsement or the youngest Covered Life’s attained age, as applicable.
 
     
If the surviving spouse is not a Covered Life, any GWB adjustment is null and void.
 
   
○
Step-ups will continue as permitted in accordance with the step-up rules above.
 
     
New GAWA percentages will continue to be determined in accordance with the step-up rules above if the continuing spouse is a Covered Life.  No such new GAWA percentages will be determined subsequent to continuation by a spouse who is not a Covered Life.
 
   
○
Contract Anniversaries will continue to be based on the original Contract’s Issue Date.
 
   
○
If the surviving spouse is a Covered Life, the GAWA percentage will continue to be calculated and/or recalculated based on the youngest Covered Life’s attained age.
 
   
○
If the surviving spouse is not a Covered Life and if the GAWA percentage has not yet been determined, the GAWA percentage will be based on the youngest Covered Life’s attained age on the Continuation Date (as if that person survived to that date).
 
   
○
The Latest Income Date is based on the age of the surviving spouse.  Please refer to “Annuitization” subsection below for information regarding the additional Income Options available on the Latest Income Date.
 
   
○
A new joint Owner may not be added in a non-qualified Contract if a surviving spouse continues the Contract.
 
●
Continue the Contract without this GMWB (GMWB is terminated) if the surviving spouse is not a Covered Life.  Thereafter, no GMWB charge will be assessed.  If the surviving spouse is a Covered Life, the Contract cannot be continued without this GMWB.
 
For more information about spousal continuation of a Contract, please see “Special Spousal Continuation Option” beginning on page 144.

Termination.  This GMWB terminates, subject to a prorated GMWB Charge assessed for the period since the last quarterly or monthly charge, and all benefits cease on the earliest of:
 
 
●
The Income Date;
 
●
The date of complete withdrawal of Contract Value (full surrender of the Contract);
 
   
In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.
 
●
Conversion of this GMWB (if conversion is permitted);
 
●
The date of death of the Owner (or any joint Owner), unless the Beneficiary who is the Owner’s spouse elects to continue the Contract with the GMWB (continuing the Contract with this GMWB is necessary to be able to fully realize the benefit of the For Life Guarantee if the surviving spouse is a Covered Life);
 
 
126
 
●
The Continuation Date on a Contract if the spousal Beneficiary, who is not a Covered Life, elects to continue the Contract without the GMWB; or
 
●
The date all obligations for payment under this GMWB are satisfied after the Contract has terminated pursuant to the termination provisions of the Contract.
 
This GMWB may not otherwise be terminated independently from termination of the Contract.
 
Annuitization.

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

If the GAWA percentage has not yet been determined, the GAWA percentage will be based on the youngest Covered Life’s attained age at the time of election of this option.  The GAWA percentage will not change after election of this option.

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

This income option provides payments in a fixed dollar amount for a specific number of years.  The actual number of years that payments will be made is determined on the calculation date by dividing the GWB by the GAWA. Upon each payment, the GWB will be reduced by the payment amount, and no payments will be made in excess of the remaining GWB. The annual amount payable will equal the GAWA, except that the last payment may be a smaller amount equal to the then-remaining GWB.  This annualized amount will be paid over the specific number of years in the frequency (no less frequently than annually) that the Owner selects.  If the Owner should die before the payments have been completed, the remaining payments will be made to the Beneficiary, as scheduled.

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

See “Guaranteed Minimum Withdrawal Benefit General Considerations” and “Guaranteed Minimum Withdrawal Benefit Important Special Considerations” beginning on page 56 for additional things to consider before electing a GMWB; when electing to annuitize your Contract after having purchased a GMWB; or when the Latest Income Date is approaching and you are thinking about electing or have elected a GMWB.

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

Bonus.  The primary purpose of the bonus is to act as an incentive for you to defer taking withdrawals.  A bonus equal to 5, 6, or 7% of the Bonus Base (defined below) will be applied to the GWB at the end of each Contract Year within the Bonus Period (also defined below) if no withdrawals are taken during that Contract Year.  The percentage that actually applies under your GMWB is the one that is included as the bonus rate in the combination of Options that you elect.  The bonus enables the GWB and GAWA to increase in a given Contract Year (even during a down market relative to your Contract Value allocated to the Investment Divisions).  The increase, however, may not equal the amount that your Contract Value has declined.  This description of the bonus feature is supplemented by the examples in Appendix D under section “V. LifeGuard Freedom Flex”, particularly example 10.  The box below has more information about the bonus, including:
 
127
 
 
●
How the bonus is calculated;
 
●
What happens to the Bonus Base (and bonus) with a withdrawal, Premium payment, and any step-up;
 
●
For how long the bonus is available; and
 
●
When and what happens when the bonus is applied to the GWB.
 
The bonus equals 5, 6 or 7% of the Bonus Base.  The Bonus Base may vary after this GMWB is added to the Contract, as described immediately below.
         
  ● When this GMWB is added to the Contract, the Bonus Base equals the GWB.
         
  ●
With a withdrawal, if that withdrawal, and all prior withdrawals in the current Contract Year, exceeds the greater of the GAWA and the RMD, as applicable, then the Bonus Base is set to the lesser of the GWB after, and the Bonus Base before, the withdrawal.  Otherwise, there is no adjustment to the Bonus Base with withdrawals.
 
     
○
All withdrawals count, including: systematic withdrawals; RMDs for certain tax-qualified Contracts; withdrawals of asset allocation and advisory fees; and free withdrawals under the Contract.
 
     
○
 
A withdrawal in a Contract Year during the Bonus Period (defined below) precludes a bonus for that Contract Year.
 
  ●
With a Premium payment, the Bonus Base increases by the amount of the Premium payment net of any applicable Premium taxes, plus (for endorsements issued before September 16, 2013) any Contract Enhancements.
 
  ● 
With any step-up (if the GWB increases upon step-up), the Bonus Base is set to the greater of the GWB after, and the Bonus Base before, the step-up.
 
The Bonus Base can never be more than $5 million.
 
The bonus is applied at the end of each Contract Year during the Bonus Period, if there have been no withdrawals during that Contract Year.  Conversely, any withdrawal, including but not limited to systematic withdrawals and required minimum distributions, taken in a Contract Year during the Bonus Period causes the bonus not to be applied.
 
When the bonus is applied:
 
  ●
The GWB is recalculated, increasing by 5, 6 or 7% (as applicable) of the Bonus Base.
 
  ●  If the Bonus is applied after the first withdrawal (in a prior year), the GAWA is then recalculated, equaling the greater of the GAWA percentage multiplied by the new GWB or the GAWA before the bonus.
 
Applying the bonus to the GWB does not affect the Bonus Base, GWB adjustment or BDB.
 
The Bonus is only available during the Bonus Period.  The Bonus Period begins on the effective date of this GMWB endorsement.  In addition, the Bonus Period will re-start at the time the Bonus Base increases due to a step-up so long as the step-up occurs on or before the Contract Anniversary immediately following the youngest Covered Life’s 80th birthday.  (See example below.)
 
The Bonus Period ends on the earlier of:
 
  ● The tenth Contract Anniversary following (1) the effective date of the endorsement or (2) the most recent increase to the Bonus Base due to a step-up, if later; or
     
  ●  The date the Contract Value is zero.
 
128
 
The Bonus Base will continue to be calculated even after the Bonus Period expires.  Therefore, it is possible for the Bonus Period to expire and then re-start on a later Contract Anniversary if the Bonus Base increases due to a step-up.  Such a restart, however, will not reinstate any bonus that would have been credited on a prior date that was not within a Bonus Period.
 
The purpose of the re-start provision is to extend the period of time over which the Owner is eligible to receive a bonus.  For example, assume this GMWB was added to a Contract on December 1, 201 5 .  At that time, the bonus period is scheduled to expire on December 1, 202 5 (which is the tenth Contract Anniversary following the effective date of the endorsement).  If a step-up increasing the Bonus Base occurs on the third Contract Anniversary following the effective date of the endorsement (December 1, 201 8 ), and the youngest Covered Life is younger than age 80, the Bonus Period will re-start and will be scheduled to expire on December 1, 202 8 .  Further, assuming that the next Bonus Base increase due to a step-up does not occur until December 1, 20 30 (which is two years after the Bonus Period in this example expired) and that the youngest Covered Life is still younger than age 80 at that time, the Bonus Period would re-start on December 1, 20 30 , and would be scheduled to expire on December 1, 20 40 .  (Please also see Examples 8 and 9 in Appendix D under section “V. LifeGuard Freedom Flex” for more information regarding the re-start provision.)
 
Spousal continuation of a Contract with this GMWB does not affect the Bonus Period; Contract Anniversaries are based on the Contract’s Issue Date.

Guaranteed Minimum Withdrawal Benefit For Stretch RMDs (“MarketGuard Stretch GMWB”). The following description of this GMWB is supplemented by the examples in Appendix D under section “VI.  MarketGuard Stretch”, particularly example 2 for the varying benefit.

This GMWB is available under Contracts which are purchased by the Owner with proceeds that are payable to the Owner as beneficiary of tax qualified or non-qualified death benefits as a result of the death of an owner of a qualified plan, or the death of an owner of a tax-qualified or non-qualified annuity contract. This GMWB is also available to an eligible Beneficiary entitled to death benefit payments under an existing Contract, who will be considered an Owner for purposes of this GMWB. The proceeds must be subject to the minimum distribution requirements of the Internal Revenue Code (the “Code”) applicable to beneficiaries.  The distributions that will be made under this GMWB are commonly referred to as “stretch” distributions since they allow beneficiaries to receive payments over a period of time not exceeding their life expectancies.

Availability of this GMWB is subject to the following additional requirements:

●  
For Owners age 70 or younger on the date this GMWB is issued, this GMWB must be elected no later than five years after the date of death of the original owner. For Owners age 71 through age 80 on the date this GMWB is issued, this GMWB must be elected before the Owner begins taking distributions (or is required to begin taking distributions) to meet the stretch minimum distribution requirements. For endorsements issued before April 29, 2013, eligible Owners of any age must have elected the GMWB before the Owner began taking distributions (or was required to begin taking distributions) to meet the stretch minimum distribution requirements.
 
●  
This GMWB is not available if a trust was the designated beneficiary of the death benefit proceeds and as a result the Owner must apply the life expectancy payout method using an age different from his or her own.

●  
The Owner must meet the applicable minimum distribution requirements by electing the life expectancy payout method as defined under the Code applicable to beneficiaries. This GMWB is not available if the Owner uses other payout methods, including payout methods available only for surviving spouses under special Code rules.

●  
The Owner must commence the minimum distributions not later than 1 year after the deceased owner’s death (for non-qualified Contracts) or not later than the end of the calendar year following the calendar year in which the deceased owner died (for tax-qualified Contracts).

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

●  
The Owner’s death;

●  
Until all withdrawals under the Contract equal the Guaranteed Withdrawal Balance (GWB), without regard to Contract Value ( The GWB is the guaranteed amount available for future periodic withdrawals); or
 
129
 
●
The Contract Anniversary occurring in the GMWB Maturity Year (please see the “GMWB Maturity Year” section on page 133).
 
PLEASE NOTE:  The guarantees of this GMWB are subject to the endorsement’s terms, conditions, and limitations that are explained below.

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

This GMWB is available to individual Owners up to 80 years old on the latest required date of the first minimum distribution under the Internal Revenue Code applicable to the Contract (proof of age is required); may be added to a Contract on or after the Issue Date; and once added cannot be canceled.  If you want to elect this GMWB after the Contract Issue Date (subject to availability), we must receive a request in Good Order.  This GMWB is not available on a Contract that already has a GMWB (only one GMWB per Contract).

This GMWB is available to natural Owners on qualified and non-qualified Contracts. It is also available to non-natural Owners on qualified Contracts. Joint annuitants are not permitted if there is a non-natural Owner.

We allow ownership changes of a Contract with this GMWB only when the Owner is a trust and the ownership change is to the Annuitant.  For Contracts purchased in the state of Oregon, other ownership changes may be permitted, however any ownership change not described above as a permitted change will result in termination of the GMWB. Otherwise, ownership changes are not allowed.  Changing Annuitants is not allowed.  Availability of this GMWB may be subject to further limitation.

There is a limit on withdrawals each Contract Year to keep the guarantees of this GMWB in full effect – the greater of the Guaranteed Annual Withdrawal Amount (GAWA) and  the required minimum distribution under the Contract (Stretch RMD).  Please see “Election” and “Withdrawals” below for more information about the GAWA.   For purposes of this GMWB, the Stretch RMD is the amount defined by the Internal Revenue Code as the minimum distribution requirement under the life expectancy payout method applicable to the Contract which is attributable to the proceeds from the death of an owner of a qualified plan, or the death of an owner of a tax-qualified or non-qualified annuity contract. Withdrawals exceeding the above limit cause the GWB and GAWA to be recalculated.

Election.  The GWB depends on when this GMWB is added to the Contract, and the GAWA derives from the GWB.
 
When this GMWB is added to the Contract
on the Issue Date –
The GWB equals initial Premium net of any applicable Premium taxes.
 
The GAWA is determined based on the Owner’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  See the GAWA percentage table below.
 
 
When this GMWB is added to the Contract
after the Issue Date , subject to availability  –
The GWB equals Contract Value less the recapture charge on any Contract Enhancement.
 
The GAWA is determined based on the Owner’s attained age at the time of first withdrawal and equals the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  See the GAWA percentage table below.
 
Contract Enhancements and the corresponding recapture charges are not included in the calculation of the GWB when this GMWB is added to the Contract on the Issue Date.  This is why Premium (net of any applicable Premium taxes) is used to calculate the GWB when this GMWB is added to the Contract on the Issue Date.  If you instead add this GMWB to your Contract post issue (subject to availability), the GWB is calculated based on Contract Value, which includes any previously applied Contract Enhancements, and, as a result, we subtract any applicable recapture charge from the Contract Value to calculate the GWB.  In any event, with Contract Enhancements, the result is a GWB that is less than Contract Value when this GMWB is added to the Contract.  (See Example 1 in Appendix D under section “VI.  MarketGuard Stretch”.)  The GWB can never be more than $5 million, and the GWB is reduced by each withdrawal.
 
130

PLEASE NOTE:  Upon the Owner’s death, this GMWB may be continued by a Beneficiary.  Please see the “Continuation By Beneficiary” subsection below for more information.

Withdrawals.  The GAWA percentage and the GAWA are determined at the time of the first withdrawal.  The GAWA is equal to the GAWA percentage multiplied by the GWB prior to the partial withdrawal.  The GAWA percentage varies according to age group and is determined based on the Owner’s attained age at the time of the first withdrawal.  For a qualified Contract with a non-natural Owner, the age of the Annuitant is used to determine the GAWA percentage.  The GAWA percentage for each age group is:

Ages
GAWA Percentage
0 – 54
4.5%
55 – 59
5.0%
60+
5.5%
 
We reserve the right to prospectively change the GAWA percentages, including the age bands, on new GMWB endorsements. We recommend you check with your representative to learn about the current level of the GAWA percentages, or contact us at the Annuity Service Center for more information.  Our contact information is on the first page of the prospectus. If we change the GAWA percentages described above, we will follow these procedures:
1) When we issue your Contract we will deliver a copy of the prospectus that includes the notice of change of GAWA percentages in the form of a prospectus update to you.  You will have until the end of the Free Look period to cancel your Contract and this GMWB by returning the Contract to us pursuant to the provisions of the Free Look section (please see “Free Look” on page 149).
2) If you are an existing Owner and are eligible to elect this GMWB after the Issue Date, at the time we change the GAWA percentages we will send you the notice of change of GAWA percentages in the form of a prospectus update. If you later elect this GMWB, when we receive your election, we will send you the required endorsement with a duplicate notice of change of GAWA percentages. You will have 30 days after receiving the notice to cancel your election of this GMWB by returning the endorsement to us.
In each case, the actual GAWA percentages will be reflected in your Contract endorsement.

Withdrawals cause the GWB to be recalculated.  Withdrawals may also cause the GAWA  to be recalculated, depending on whether or not the withdrawal, plus all prior withdrawals in the current Contract Year, is less than or equal to the GAWA, or  the Stretch RMD (if greater than the GAWA).  If the GWB falls below the GAWA at the end of a Contract Year, the GAWA will be reset to equal the GWB.  This may occur, when over time, payment of guaranteed withdrawals is nearly complete and the GWB has been depleted.  The tables below clarify what happens in each instance.

This GMWB allows withdrawals greater than the GAWA to meet the Contract’s Stretch RMD without compromising the endorsement’s guarantees.  Examples 4 and 5 in Appendix D under section “VI.  MarketGuard Stretch” supplement this description. Because the intervals for the GAWA and Stretch RMDs are different, namely Contract Years versus calendar years, and because Stretch RMDs are subject to other conditions and limitations,  please see “Stretch RMD NOTES” below for more information.
 
When a withdrawal, plus all prior withdrawals in the
current Contract Year, is less than or equal to the
greater of the GAWA or Stretch RMD,
as applicable –
The GWB is recalculated, equaling the greater of:
 
 
●
The GWB before the withdrawal less the withdrawal; Or
 
 
●
Zero.
 
 
The GAWA and the GMWB Charge Base are unchanged.   At the end of each Contract Year, if the GWB is less than the GAWA, the GAWA is set equal to the GWB.
 
For more information about the GMWB Charge Base, please see “Guaranteed Minimum Withdrawal Benefit For Stretch RMDs (“MarketGuard Stretch GMWB”) Charge” on page 43.

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

Withdrawing more than the greater of the GAWA or Stretch RMD, as applicable, in a Contract Year causes the GWB and GAWA to be recalculated (see below and Example 5 in Appendix D under section “VI.  MarketGuard Stretch”).  In recalculating the GWB, the GWB could be reduced by more than the withdrawal amount.  The GAWA is also likely to be reduced.  Therefore, please note that withdrawing more than the greater of the GAWA or Stretch RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit and may lead to its premature termination.
 
131
 
         
When a withdrawal, plus all prior withdrawals in the
current Contract Year, exceeds the greater of the
GAWA or Stretch RMD, as applicable –
  
The GWB is recalculated, equaling the greater of:
 
    ●
The GWB prior to the partial withdrawal, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal; Or
         
      ●
Zero.
         
   
The GAWA is recalculated, equaling:
         
      ●
The GAWA prior to the partial withdrawal reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal.

The Excess Withdrawal is defined to be the lesser of:

●
The total amount of the current partial withdrawal, Or
 
●
The amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the Stretch RMD, as applicable.

Withdrawals under this GMWB are assumed to be the total amount deducted from the Contract Value, including any withdrawal charges, recapture charges and other charges or adjustments.  Stretch RMD withdrawals in excess of the free withdrawal amount are not subject to a withdrawal charge.  Any withdrawals from Contract Value allocated to a Fixed Account Option may be subject to an Excess Interest Adjustment.  For more information, please see “THE FIXED ACCOUNT AND GMWB FIXED ACCOUNT” beginning on page 13.  Withdrawals may be subject to a recapture charge on any Contract Enhancement.  Withdrawals in excess of free withdrawals may be subject to a withdrawal charge.

Withdrawals under this GMWB are considered the same as any other partial withdrawals for the purposes of calculating any other values under the Contract and any other endorsements (for example, the Contract’s death benefit).  All withdrawals count toward the total amount withdrawn in a Contract Year, including systematic withdrawals, Stretch RMDs, withdrawals of asset allocation and advisory fees, partial transfers and free withdrawals under the Contract.  They are subject to the same restrictions and processing rules as described in the Contract.  They are also treated the same for federal income tax purposes.  For more information about tax-qualified and non-qualified Contracts, please see “TAXES” beginning on page 145.

If the age of any Owner is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the GWB and the GAWA will be recalculated based on the GAWA percentage applicable at the correct age.  Any future GAWA percentage recalculation will be based on the correct age.  If the age at election of the Owner falls outside the allowable age range, the GMWB will be null and void and all GMWB charges will be refunded.  If the date of death of the previous owner is incorrectly stated at the time of election of the GMWB, on the date the misstatement is discovered, the eligibility of GMWB election will be re-determined based on the correct date of death.  If it is determined that the GMWB could not have been elected based on the correct date of death, the GMWB will be null and void and all GMWB charges will be refunded.
 
     
 
STRETCH RMD NOTES:  Notice of a Stretch RMD is required at the time of your withdrawal request, and there is an administrative form for such notice.  The administrative form allows for one time or systematic withdrawals.  We may require you to set up a systematic withdrawal program to meet the Stretch RMDs. Eligible withdrawals that are specified as Stretch RMDs may only be taken based on the value of the Contract to which the endorsement applies, even where the Internal Revenue Code allows for the taking of Stretch RMDs for multiple contracts from a single contract.  You, as Owner, are responsible for complying with the Internal Revenue Code’s Stretch RMD requirements.  If your requested Stretch RMD exceeds our calculation of the Stretch RMD for your contract, your request will not be eligible for the waiver of any applicable charges (i.e. withdrawal charges and recapture charges) and we will impose those charges, which will be reflected in the confirmation of the transaction.  For information regarding the Stretch RMD calculation for your Contract, please contact our Annuity Service Center.  Our contact information is on the cover page of this prospectus.
 
  
 
Under the Internal Revenue Code, Stretch RMDs are calculated and taken on a calendar year basis.  But with this GMWB, the GAWA is based on Contract Years.  Because the intervals for the GAWA and Stretch RMDs are different, the endorsement’s guarantees may be more susceptible to being compromised.  With tax-qualified Contracts, if the sum of your total partial withdrawals in a Contract Year exceeds the greatest of the Stretch
 
 
132
 
     
 
RMD for each of the two calendar years occurring in that Contract Year and the GAWA for that Contract Year, then the GWB and GAWA could be adversely recalculated, as described above.  (If your Contract Year is the same as the calendar year, then the sum of your total partial withdrawals should not exceed the greater of the Stretch RMD and the GAWA.)  Below is an example of how this modified limit would apply.
 
  
 
Assume a tax-qualified Contract with a Contract Year that runs from July 1 to June 30, and that there are no withdrawals other than as described.  The GAWA for the 201 6 Contract Year (ending June 30) is $10.  The Stretch RMDs for calendar years 201 5 and 201 6 are $14 and $16, respectively.
 		  
 
If the Owner takes $7 in each of the two halves of calendar year 201 5 and $8 in each of the two halves of calendar year 201 6 , then at the time the withdrawal in the first half of calendar year 201 6 is taken, the Owner will have withdrawn $15.  Because the sum of the Owner’s withdrawals for the 201 6 Contract Year is less than the higher Stretch RMD for either of the two calendar years occurring in that Contract Year, the GWB and GAWA would not be adversely recalculated.
 
  
 
Examples that are relevant or specific to tax-qualified Contracts, illustrating this GMWB, in varying circumstances and with specific factual assumptions, are at the end of the prospectus in Appendix D under section “VI. MarketGuard Stretch”, particularly examples 4 and 5.  Please consult the representative who is helping, or who helped, you purchase your tax-qualified Contract, and your tax adviser, to be sure that this GMWB ultimately suits your needs relative to your Stretch RMD.
  
     

Premiums.

Subsequent Premium payments are only permitted on tax-qualified Contracts and must be a transfer from a qualified plan. Subsequent Premium payments must be received within 180 days of the Issue Date.
         
With each subsequent Premium payment on the Contract –
  
The GWB is recalculated, increasing by the amount of the Premium net of any applicable Premium taxes.
 
If the Premium payment is received after the first withdrawal, the GAWA is also recalculated, increasing by:
         
      ●
The GAWA percentage multiplied by the subsequent Premium payment net of any applicable Premium taxes; Or
 
      ●
The GAWA percentage multiplied by the increase in the GWB – if the maximum GWB is hit.
 
We require prior approval for a subsequent Premium payment that would result in your Contract having $1 million of Premiums in the aggregate.  We also reserve the right to refuse subsequent Premium payments.  The GWB can never be more than $5 million.  See Example 3b in Appendix D under section “VI.  MarketGuard Stretch” to see how the GWB is recalculated when the $5 million maximum is hit.

GMWB Maturity Year. On the Contract Anniversary occurring in the GMWB Maturity Year, an amount equal to the excess of the GWB over Contract Value will be paid to the Owner. If the GWB is less than the Contract Value, no payment will be made.  In either case, the GWB will be set to zero and the GMWB will terminate. The GMWB Maturity Year is determined from the chart below based on the Owner’s attained age on the latest required date for the first Stretch RMD. When determining the GMWB Maturity Year for endorsements issued on or after April 29, 2013, the latest required date for the first Stretch RMD is considered the beginning of the first year. For endorsements issued before April 29, 2013, the endorsement effective date is considered the beginning of the first year.
                     
Age
  
GMWB Maturity Year
  
Age
  
GMWB Maturity Year
  
Age
  
GMWB Maturity Year
0
  
82
  
27
  
56
  
54
  
30
1
  
81
  
28
  
55
  
55
  
29
2
  
80
  
29
  
54
  
56
  
28
3
  
79
  
30
  
53
  
57
  
27
4
  
78
  
31
  
52
  
58
  
26
5
  
77
  
32
  
51
  
59
  
26
6
  
76
  
33
  
50
  
60
  
25
7
  
75
  
34
  
49
  
61
  
24
8
  
74
  
35
  
48
  
62
  
23
 
133
 
Age
  
GMWB Maturity Year
  
Age
  
GMWB Maturity Year
  
Age
  
GMWB Maturity Year
9
  
73
  
36
  
47
  
63
  
22
10
  
72
  
37
  
46
  
64
  
21
11
  
71
  
38
  
45
  
65
  
20
12
  
70
  
39
  
44
  
66
  
20
13
  
69
  
40
  
43
  
67
  
19
14
  
68
  
41
  
42
  
68
  
18
15
  
67
  
42
  
41
  
69
  
17
16
  
66
  
43
  
40
  
70
  
16
17
  
65
  
44
  
39
  
71
  
16
18
  
64
  
45
  
38
  
72
  
15
19
  
63
  
46
  
37
  
73
  
14
20
  
62
  
47
  
36
  
74
  
14
21
  
62
  
48
  
35
  
75
  
13
22
  
61
  
49
  
35
  
76
  
12
23
  
60
  
50
  
34
  
77
  
12
24
  
59
  
51
  
33
  
78
  
11
25
  
58
  
52
  
32
  
79
  
10
26
  
57
  
53
  
31
  
80
  
10

See Example 6 in Appendix D under section “VI. MarketGuard Stretch” to see how the GMWB Maturity Year affects your GMWB.

Owner’s Death.  The Contract’s death benefit is not affected by this GMWB so long as Contract Value is greater than zero and the Contract is still in the accumulation phase.  Upon your death while the Contract is still in force, this GMWB terminates without value unless continued by the Beneficiary.

Contract Value Is Zero.  If your Contract Value is reduced to zero as the result of a partial withdrawal, contract charges or poor Fund performance and the GWB is greater than zero, the GWB will be paid to you on a n annual basis, so long as the Contract is still in the accumulation phase.  The total annual payment will equal the GAWA, but will not exceed the current GWB.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the Owner’s attained age at the time the Contract Value is reduced to zero and the GAWA will be equal to the GAWA percentage multiplied by the GWB. On the Contract Anniversary occurring in the GMWB Maturity Year, any remaining GWB will be paid to the Owner and no further payments will be made.
         
After each payment when the Contract Value is zero –
  
The GWB is recalculated, equaling the greater of:
       
    ●
The GWB before the payment less the payment; Or
         
      ●
Zero.
         
   
The GAWA is unchanged. At the end of each Contract Year, if the GWB is less than the GAWA, the GAWA is set equal to the GWB.

Subject to the Company’s approval, you may elect to receive payments more frequently than annually. All other rights under your Contract cease and we will no longer accept subsequent Premium payments and all optional endorsements are terminated without value.  Upon your death as the Owner, all payments cease and no death benefit is payable, including the Earnings Protection Benefit.

 Continuation By Beneficiary.  Upon the death of the Owner under a Qualified Plan Contract with a single Beneficiary, the Beneficiary may elect to continue the GMWB. If elected, the GMWB will continue and may not be terminated subsequently. If the GAWA% has been determined, no adjustment will be made to the GWB, the GAWA, the GMWB Charge Base, or the GMWB Maturity Year, at the time of continuation.  If the GAWA percentage has not yet been determined, it will be set at the GAWA percentage corresponding to the original Owner’s attained age on the continuation date and the GAWA will be equal to the GAWA percentage multiplied by the GWB.

Termination.  This GMWB terminates subject to a prorated GMWB Charge assessed for the period since the last quarterly or monthly charge and all benefits cease on the earliest of:
 
●
The Income Date;
 
●
The date of complete withdrawal of Contract Value (full surrender of the Contract);
 
 
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In surrendering your Contract, you will receive the Contract Value less any applicable charges and adjustments and not the GWB or the GAWA you would have received under this GMWB.
 
●
The date of the Owner’s death, unless the Beneficiary elects to continue a qualified  Contract with the GMWB;
 
●
The first date the GWB equals zero.
 
Effect of GMWB on Tax Deferral.  This GMWB may not be appropriate for Owners who have as a primary objective taking maximum advantage of the tax deferral that is available to them under an annuity contract to accumulate assets.  Please consult your tax and financial advisors before adding this GMWB to a Contract.

Systematic Withdrawal Program. You can arrange to have money automatically sent to you periodically while your Contract is still in the accumulation phase.  You may withdraw a specified dollar amount (of at least $50 per withdrawal), a specified percentage or earnings.  Your withdrawals may be on a monthly, quarterly, semi-annual or annual basis.  If you have arranged for systematic withdrawals, schedule any planned step-up under a GMWB to occur prior to the withdrawal.  Example 7 in Appendix D under sections “I. Safe Guard Max,” “II. AutoGuard 5, AutoGuard 6,” and “III. Jackson Select Protector,” and Example 9 in Appendix D under sections “IV.  LifeGuard Freedom 6 Net” and “V. LifeGuard Freedom Flex” illustrate the consequences of a withdrawal preceding a step-up. There is no charge for the Systematic Withdrawal Program; however, you will have to pay taxes on the money you receive.  You may also be subject to a withdrawal charge and an Excess Interest Adjustment.

If your Contract contains a GMWB containing a Transfer of Assets provision, systematic withdrawals are only allowed on a pro-rata basis including all investment options (including the GMWB Fixed Account) or, in the alternative, may be requested from specified investment options, excluding the GMWB Fixed Account.  Specific to the GMWB Fixed Account, a specified withdrawal request may cause an automatic transfer from the GMWB Fixed Account on the following Contract Monthly Anniversary.

In addition, for Contracts with a GMWB containing a Transfer of Assets provision, the percentage of the partial withdrawal taken from the GMWB Fixed Account cannot exceed the ratio of the GMWB Fixed Account value to the Contract Value.

Suspension of Withdrawals or Transfers. We may be required to suspend or delay withdrawals or transfers to or from an Investment Division when:
 
●
the New York Stock Exchange is closed (other than customary weekend and holiday closings);
 
●
under applicable SEC rules, trading on the New York Stock Exchange is restricted;
 
●
 
under applicable SEC rules, an emergency exists so that it is not reasonably practicable to dispose of securities in an Investment Division or determine the value of its assets; or
 
●
the SEC, by order, may permit for the protection of Contract Owners.

We have reserved the right to defer payment for a withdrawal or transfer from the Fixed Account and the GMWB Fixed Account for up to six months or the period permitted by law.


The income phase of your Contract occurs when you begin receiving regular income payments from us.  The Income Date is the day those payments begin.  Once income payments begin, the Contract cannot be returned to the accumulation phase.  You can choose the Income Date and an income option.  All of the Contract Value must be annuitized.  The income options are described below.

If you do not choose an income option, we will assume that you selected option 3, which provides a life annuity with 120 months of guaranteed payments.

You can change the Income Date or income option at least 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 the Contract Anniversary on or next following your 95th birthday under a non-qualified Contract, or by such earlier date as required by the applicable qualified plan, law or regulation.
 
135

Under a traditional Individual Retirement Annuity, required minimum distributions must begin in the calendar year in which you attain age 70 1/2 (or such other age as required by law).  Distributions under qualified plans and Tax-Sheltered Annuities must begin by the later of the calendar year in which you attain age 70 1/2 or the calendar year in which you retire.  You do not necessarily have to annuitize your Contract to meet the minimum distribution requirements for Individual Retirement Annuities, qualified plans, and Tax-Sheltered Annuities.  Distributions from Roth IRAs are not required prior to your death.

At the Income Date, you can choose to receive fixed payments or variable payments based on the Investment Divisions.  Unless you tell us otherwise, your income payments will be based on the fixed and variable options that were in place on the Income Date.

You can choose to have income payments made monthly, quarterly, semi-annually or annually.  Or you can choose a single lump sum payment.  If you have less than $5,000 to apply toward an income option and state law permits, we may provide your payment in a single lump sum, part of which may be taxable as Federal Income.  Likewise, if your first income payment would be less than $50 and state law permits, we may set the frequency of payments so that the first payment would be at least $50.

Variable Income Payments. If you choose to have any portion of your income payments based upon one or more Investment Divisions, the dollar amount of your initial annuity payment will depend primarily upon the following:

●
the amount of your Contract Value you allocate to the Investment Division(s) on the Income Date;
 
●
the amount of any applicable Premium taxes, recapture charges or withdrawal charges and any Excess Interest Adjustment deducted from your Contract Value on the Income Date;
 
●
which income option you select; and
 
●
the investment factors listed in your Contract that translate the amount of your Contract Value (as adjusted for applicable charges, frequency of payment and commencement date) into initial payment amounts that are measured by the number of Annuity Units of the Investment Division(s) you select credited to your Contract.

The investment factors in your Contract are calculated based upon a variety of factors, including an assumed investment rate of 1.5% for all options and, if you select an income option with a life contingency, the age and gender of the Annuitant.  State variations may apply.

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.

We calculate the dollar amount of subsequent income payments that you receive based upon the performance of the Investment Divisions you select.  If that performance (measured by changes in the value of Annuity Units) exceeds the assumed investment rate, then your income payments will increase; if that performance is less than the assumed investment rate, then your income payments will decrease.  Neither expenses actually incurred (other than taxes on investment return), nor mortality actually experienced, will adversely affect the dollar amount of subsequent income payments.

Income Options. The Annuitant is the person whose life we look to when we make income payments (each description assumes that you are the Owner and Annuitant).  The following income options may not be available in all states.

Option 1 - Life Income.  This income option provides monthly payments for your life.  No further payments are payable after your death.  Thus, it is possible for you to receive only one payment if you died prior to the date the second payment was due.

Option 2 - Joint and Survivor.  This income option provides monthly payments for your life and for the life of another person (usually your spouse) selected by you.  Upon the death of either person, the monthly payments will continue during the lifetime of the survivor.  No further payments are payable after the death of the survivor.

Option 3 - Life Annuity With at Least 120 or 240 Monthly Payments.  This income option provides monthly payments for the Annuitant’s life, but with payments continuing to the Beneficiary for the remainder of 10 or 20 years (as you select) if the Annuitant dies before the end of the selected period.  If the Beneficiary does not want to receive the remaining scheduled payments, a single lump sum may be requested, which will be equal to the present value of the remaining payments (as of the date of calculation) discounted at an interest rate that will be no more than 1% higher than the rate used to calculate the initial payment.  The calculation of the lump sum payment results in a Commutation Fee, which is further discussed on page 45.
 
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Option 4 - Income for a Specified Period.  This income option provides monthly payments for any number of years from 5 to 30.  If the Beneficiary does not want to receive the remaining scheduled payments, a single lump sum may be requested, which will be equal to the present value of the remaining payments (as of the date of calculation) discounted at an interest rate that will be no more than 1% higher than the rate used to calculate the initial payment.  The calculation of the lump sum payment results in a Commutation Fee, which is further discussed on page 45.

Additional Options - We may make other income options available.

No withdrawals are permitted during the income phase under an income option that is life contingent.

 
The Contract has a death benefit, namely the basic death benefit, which is payable during the accumulation phase.  Instead you may choose an optional death benefit for an additional charge, availability of which may vary by state.  For more information about the availability of an optional death benefit in your state, please see the application, check with the registered representative helping you to purchase the Contract or contact us at our Annuity Service Center.  Our contact information is on the first page of this prospectus.  With the exception of LifeGuard Freedom Flex DB, which currently may only be selected at issue in conjunction with the purchase of the LifeGuard Freedom Flex GMWB (with 6% Bonus and Annual Step-Up Options), the optional death benefits are only available upon application or upon conversion (if conversion is permitted).  In addition, once an optional death benefit is chosen, it cannot be canceled except upon conversion, (if conversion is permitted), or upon spousal continuation in the case of the LifeGuard Freedom Flex DB.

The effects of any GMWB on the amount payable to your beneficiaries upon your death should be considered in selecting the death benefits in combination with a GMWB.  Except as provided in certain of the GMWB endorsements, no death benefit will be paid upon your death in the event the Contract Value falls to zero.

The death benefit paid to your Beneficiary upon your death is calculated as of the date we receive all required documentation in Good Order which includes, but is not limited to, due proof of death and a completed claim form from the Beneficiary of record (if there are multiple beneficiaries, we will calculate the death benefit when we receive this documentation from the first Beneficiary).  Payment will include interest to the extent required by law.  The death benefit paid will be the basic death benefit unless you have selected the Earnings Protection Benefit and/or one of the other death benefit endorsements.  If you have a guaranteed minimum death benefit, the amount by which the guaranteed minimum death benefit exceeds the account value will be put into your account as of the date we receive all required documentation from the Beneficiary of record and will be allocated among the Investment Divisions and Fixed Account according to the current allocation instructions on file for your account as of that date.  Each Beneficiary will receive their portion of the remaining value, subject to market fluctuations, when their option election form is received at our Home Office in Lansing, Michigan.

Basic Death Benefit. If you die before moving to the income phase, the person you have chosen as your Beneficiary will receive a death benefit.  If you have a joint Owner, the death benefit will be paid when the first joint Owner dies.  The surviving joint Owner will be treated as the Beneficiary.  Any other Beneficiary designated will be treated as a contingent Beneficiary.  Only a spousal Beneficiary has the right to continue the Contract in force upon your death.

The death benefit equals the greater of:

●
your Contract Value on the date we receive all required documentation from your Beneficiary; or
 
●
the total Premiums you have paid since your Contract was issued reduced for prior withdrawals (including any applicable charges and adjustments) in the same proportion that the Contract Value was reduced on the date of the withdrawal.

Earnings Protection Benefit (“EarningsMax”). The Earnings Protection Benefit is an optional benefit that may increase the amount of the death benefit payable at your death.  If you are 75 years of age or younger when your Contract is issued, you may elect the Earnings Protection Benefit when the Contract is issued.

If you are under the age of 70 when your Contract is issued and you elect the Earnings Protection Benefit then, the amount that will be added to the death benefit that is otherwise payable is 40% of the earnings in your Contract, subject to the limit described below.

If you are between the ages of 70 and 75 when your Contract is issued and you elect the Earnings Protection Benefit, the amount that will be added to the death benefit that is otherwise payable is 25% of the earnings in your Contract, subject to the limit described below.
 
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For purposes of this benefit, we define earnings as the amount by which the sum of your Contract Value, including any Contract Enhancement, exceeds the remaining premiums (Premiums not previously withdrawn).  If the earnings amount is negative, i.e., the total remaining premiums are greater than your Contract Value, no Earnings Protection Benefit will be paid.  In determining the maximum amount of earnings on which we will calculate your Earnings Protection Benefit, earnings shall never exceed 250% of the remaining premiums, excluding remaining premiums paid in the 12 months prior to the date of your death (other than your initial Premium if you die in the first Contract year).

As described below, if your spouse exercises the Special Spousal Continuation Option (please see “Special Spousal Continuation Option” on page 144) upon your death, the Earnings Protection Benefit will be paid upon your death and your spouse may then discontinue the Earnings Protection Benefit.  If your spouse fails to make such an election, the Earnings Protection Benefit will remain in force and upon your spouse’s death we will pay an Earnings Protection Benefit if the Contract has accrued additional earnings since your death.  In calculating that benefit, we will not take into consideration earnings accrued on or prior to the Continuation Date (as defined in “Special Spousal Continuation Option” beginning on page 144).  In addition, the maximum earnings on which we calculate the Earnings Protection Benefit is 250% of the Contract Value after application of the continuation adjustment (the amount by which the death benefit that would have been payable exceeds the Contract Value) plus remaining premiums paid on or after the Continuation Date (excluding remaining premiums paid within 12 months of your spouse’s death).

You must elect the Earnings Protection Benefit when you apply for your Contract.  Once elected, the benefit may not be terminated.  However, if the Contract is continued under the Special Spousal Continuation Option, your spouse may then elect to discontinue the Earnings Protection Benefit.

No Earnings Protection Benefit (other than a “continuation adjustment” described below in “Special Spousal Continuation”) will be paid:

●
if your Contract is in the income phase at the time of your death;
 
●
if there are no earnings in your Contract; or
 
●
if your spouse exercises the Special Spousal Continuation Option (described below) and either
 
   
○
is age 76 or older at the Continuation Date or
 
   
○
elects to discontinue the Earnings Protection Benefit.

The Earnings Protection Benefit may not be available in your state.  See your financial advisor for information regarding the availability of the Earnings Protection Benefit.

Optional Death Benefits. Several optional death benefits are available at issue or upon conversion (subject to availability), in lieu of or in addition to any Earnings Protection Benefit, which are designed to protect your Contract Value from potentially poor investment performance and the impact that poor investment performance could have on the amount of the basic death benefit.  Because there is an additional annual charge for each of these optional death benefits, and because you cannot change your selection, please be sure that you have read about and understand the Contract’s basic death benefit before selecting an optional death benefit.  Except for LifeGuard Freedom Flex DB, all optional death benefits are available if you are 79 years of age or younger on the Contract’s Issue Date.  The LifeGuard Freedom Flex DB is only available in conjunction with the purchase of the LifeGuard Freedom Flex GMWB (with 6% Bonus and Annual Step-Up Options) and only if the Owner is 35 to 67  (70 for endorsements issued before April 29, 2013) years of age on the date the endorsement is added to the Contract.   The older you are at the time of selection, the less advantageous it would be for you to select an optional death benefit.  These optional death benefits are subject to our administrative rules to assure appropriate use, which administrative rules may be changed, as necessary.

Depending on when and in what state you applied for the Contract: the availability of an optional death benefit may have been different; how an optional death benefit is calculated varies; and we may have referred to an optional death benefit by a different name – all as noted below.

For purposes of these optional death benefits, “Net Premiums” are defined as your Premium payments net of Premium taxes, reduced by any withdrawals (including applicable charges and deductions) at the time of the withdrawal in the same proportion that the Contract Value was reduced on the date of the withdrawal.  Accordingly, if a withdrawal were to reduce the Contract Value by 50%, for example, Net Premiums would also be reduced by 50%.  Similarly, with the “Highest Quarterly Anniversary Value” component, the adjustment to your Contract Value for any withdrawals (including applicable charges and deductions) will have occurred proportionally at the time of the withdrawals.
 
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Following are the calculations for the optional death benefits.  For purposes of these calculations, with the “Roll-up” component, interest will compound (accumulate) until the Contract Anniversary immediately preceding your 81st birthday.

5% Roll-up Death Benefit, changes your basic death benefit during the accumulation phase of your Contract to the greatest of:

(a)
your Contract Value as of the end of the Business Day on which we receive all required documentation from your Beneficiary; or
(b)
total Net Premiums since your Contract was issued; or
(c)
your GMDB Benefit Base.

The GMDB Benefit Base for the 5% Roll-up Death Benefit will be determined as of the end of any Business Day and is equal to:

●
The step-up value on the most recent step-up date,
 
●
Plus any Premium paid (net of any applicable Premium taxes) subsequent to the determination of the step-Up value,
 
●
Less any withdrawal adjustments for withdrawals taken subsequent to the determination of the step-up value,
 
compounded at an annual interest rate of 5% from the step-up date until the Contract Anniversary immediately preceding the Owner’s (or oldest Joint Owner’s) 81st birthday.
 
However, the interest rate is 4% per annum if you are 70 years old or older on the endorsement’s effective date.  The interest rate is 3% per annum for all ages in Washington State.

All such Premium payment adjustments will occur at the time of the Premium payment, unless the Premium payment is received during the first Contract Quarter.  If the Premium payment is received during the first Contract Quarter, the adjustment to the GMDB Benefit Base for the Premium payment effectively occurs on the Issue Date, which lessens the impact a subsequent withdrawal may have on the GMDB Benefit Base.  All withdrawal adjustments are made at the end of the Contract Year and on the date of receipt of due proof of death (after the calculation of this guaranteed minimum death benefit’s charge).  For total withdrawals up to 5% of the GMDB Benefit Base as of the previous Contract Anniversary (or the Issue Date, as applicable), the withdrawal adjustment is the dollar amount of the withdrawal (including any applicable charges and adjustments to such withdrawal).  After processing any applicable dollar for dollar portion of the withdrawal, the withdrawal adjustment for total withdrawals in a Contract Year in excess of 5% of the GMDB Benefit Base as of the previous Contract Anniversary (or the Issue Date, as applicable) is the GMDB Benefit Base immediately prior to the excess withdrawal adjustment multiplied by the percentage reduction in the Contract Value attributable to the excess withdrawals (including any applicable charges and adjustments to such excess withdrawals).  Withdrawals, particularly excess withdrawals, may prematurely reduce the value of this 5% Roll-up Death Benefit.

The step-up date is initially equal to the endorsement’s effective date, and the Step-up value is initially equal to: (a) the initial Premium paid (net of any applicable Premium taxes) if the endorsement’s effective date is the Contract’s Issue Date; or (b) the Contract Value, less any recapture charges, as of the endorsement’s effective date if the effective date is after the Contract’s Issue Date.  If the Contract Value is greater than the GMDB Benefit Base upon the earlier of the 7th Contract Anniversary following the endorsement’s effective date or the Contract Anniversary immediately preceding the Owner’s (or oldest Joint Owner’s) 81st birthday, the step-up date is set equal to that Contract Anniversary, and the step-up value is set equal to the Contract Value on that Step-up date.

The GMDB Benefit Base is used only in connection with the determination of the guaranteed minimum death benefit, does not affect other endorsements, and is not reflective of the Contract Value.  Additionally, please note that if you elect this endorsement, ownership changes are not allowed.

Unlike the basic death benefit, this optional death benefit may provide value on or after the Income Date, which is the date on which you begin receiving annuity payments.  If the Income Date is before the Owner attains the age of 95, then this optional death benefit endorsement terminates and no death benefit is payable.  However, if the Income Date is on the date the Owner attains age of 95 (the latest possible Income Date), then the death benefit amount is equal to the excess, if any, of (a) minus (b) where:
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(a) = the GMDB Benefit Base on the Income Date; and
 
(b) = the Contract Value on the Income Date.

If there is a death benefit amount on or after the Income Date, it will be payable to the Beneficiary when due proof of the Owner’s death is received by the Company in Good Order.  If the Owner is not deceased as of the date that the final annuity payment under the elected income option is due, the death benefit amount will be payable in a lump sum to the Owner along with the final annuity payment.

Highest Quarterly Anniversary Value Death Benefit, changes your basic death benefit during the accumulation phase of your Contract to the greatest of:

(a)
your Contract Value as of the end of the Business Day on which we receive all required documentation from your Beneficiary; or
(b)
total Net Premiums since your Contract was issued; or
(c)
your GMDB Benefit Base.

The GMDB Benefit Base for the Highest Quarterly Anniversary Value Death Benefit will be determined as of the end of any Business Day and is equal to the greatest of the adjusted quarterly Contract Values on the endorsement’s effective date and on any Contract Quarterly Anniversary following the endorsement’s effective date but prior to the Owner’s 81st birthday.  Each adjusted quarterly Contract Value is equal to:

●
The Contract Value on the endorsement’s effective date or Contract Quarterly Anniversary, as applicable,
 
●
Less for any withdrawals subsequent to that date (including any applicable charges and adjustments for such withdrawals),
 
●
Plus any Premium paid (net of any applicable Premium taxes) subsequent to that date.

For the purposes of calculating the GMDB Benefit Base, all adjustments will occur at the time of the withdrawal or Premium payment and all adjustments for amounts withdrawn will reduce the GMDB Benefit Base in the same proportion that the Contract Value was reduced on the date of such withdrawal.  Withdrawals may prematurely reduce the value of this Highest Quarterly Anniversary Value Death Benefit.

The GMDB Benefit Base is used only in connection with the determination of the guaranteed minimum death benefit, does not affect other endorsements, and is not reflective of the Contract Value.  Additionally, please note that if you elect this endorsement, ownership changes are not allowed.

Unlike the basic death benefit, this optional death benefit may provide value on or after the Income Date, which is the date on which you begin receiving annuity payments.  If the Income Date is before the Owner attains the age of 95, then this optional death benefit endorsement terminates and no death benefit is payable.  However, if the Income Date is on the date the Owner attains age of 95 (the latest possible Income Date), then the death benefit amount is equal to the excess, if any, of (a) minus (b) where:
 
(a) = the GMDB Benefit Base on the Income Date; and
(b) = the Contract Value on the Income Date.

If there is a death benefit amount on or after the Income Date, it will be payable to the Beneficiary when due proof of the Owner’s death is received by the Company in Good Order.  If the Owner is not deceased as of the date that the final annuity payment under the elected income option is due, the death benefit amount will be payable in a lump sum to the Owner along with the final annuity payment.


(a)
your Contract Value as of the end of the Business Day on which we receive all required documentation from your Beneficiary; or
(b)
total Net Premiums since your Contract was issued; or
(c)
your GMDB Benefit Base.

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The GMDB Benefit Base for the Combination 5% Roll-up and Highest Quarterly Anniversary Value Death Benefit will be determined as of the end of any Business Day and is equal to the greater of (a) or (b):

(a) is the Roll-Up Component which is equal to:

●
The step-up value on the most recent step-up date,
 
●
Plus any Premium paid (net of any applicable Premium taxes) subsequent to the determination of the step-up value,
 
●
Less any withdrawal adjustments for withdrawals taken subsequent to the determination of the step-up value,
 
compounded at an annual interest rate of 5% from the step-up date until the Contract Anniversary immediately preceding the Owner’s (or oldest Joint Owner’s) 81st birthday.
 
However, the interest rate is 4% per annum if you are 70 years old or older on the endorsement’s effective date.  The interest rate is 3% per annum for all ages in Washington State.

All such Premium payment adjustments will occur at the time of the Premium payment, unless the Premium payment is received during the first Contract Quarter.  If the Premium payment is received during the first Contract Quarter, the adjustment to the GMDB Benefit Base for the Premium payment effectively occurs on the Issue Date, which lessens the impact a subsequent withdrawal may have on the GMDB Benefit Base.  All withdrawal adjustments are made at the end of the Contract Year and on the date of receipt of due proof of death (after the calculation of this guaranteed minimum death benefit’s charge).  For total withdrawals up to 5% of the Roll-Up Component as of the previous Contract Anniversary (or the Issue Date, as applicable), the withdrawal adjustment is the dollar amount of the withdrawal (including any applicable charges and adjustments to such withdrawal).  After processing any applicable dollar for dollar portion of the withdrawal, the withdrawal adjustment for total withdrawals in a Contract Year in excess of 5% of the Roll-Up Component as of the previous Contract Anniversary (or the Issue Date, as applicable) is the Roll-Up Component immediately prior to the excess withdrawal adjustment multiplied by the percentage reduction in the Contract Value attributable to the excess withdrawals (including any applicable charges and adjustments to such excess withdrawals).  Withdrawals, particularly excess withdrawals, may prematurely reduce the value of this Roll-Up Component.

and (b) is the Highest Quarterly Anniversary Value Component, which is equal to the greatest of the adjusted quarterly Contract Values on the endorsement’s effective date and on any Contract Quarterly Anniversary following the endorsement’s effective date but prior to the Owner’s 81st birthday.  Each adjusted quarterly Contract Value is equal to:

●
The Contract Value on the endorsement’s effective date or Contract Quarterly Anniversary, as applicable,
 
●
Less for any withdrawals subsequent to that date (including any applicable charges and adjustments for such withdrawals),
 
●
Plus any Premium paid (net of any applicable Premium taxes) subsequent to that date.

For the purposes of calculating the Highest Quarterly Anniversary Value Component, all adjustments will occur at the time of the withdrawal or Premium payment and all adjustments for amounts withdrawn will reduce the Highest Quarterly Anniversary Value Component in the same proportion that the Contract Value was reduced on the date of such withdrawal.  Withdrawals may prematurely reduce the value of this Highest Quarterly Anniversary Value Component.

The step-up date is initially equal to the endorsement’s effective date, and the step-up value is initially equal to: (a) the initial Premium paid (net of any applicable Premium taxes) if the endorsement’s effective date is the Contract’s Issue Date; or (b) the Contract Value, less any recapture charges, as of the endorsement’s effective date if the effective date is after the Contract’s Issue Date.  If the Contract Value is greater than the GMDB Benefit Base upon the earlier of the 7th Contract Anniversary following the endorsement’s effective date or the Contract Anniversary
 
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immediately preceding the Owner’s (or oldest Joint Owner’s) 81st birthday, the step-up date is set equal to that Contract Anniversary, and the step-up value is set equal to the Contract Value on that step-up date.

The GMDB Benefit Base is used only in connection with the determination of the guaranteed minimum death benefit, does not affect other endorsements, and is not reflective of the Contract Value.  Additionally, please note that if you elect this endorsement, ownership changes are not allowed.

Unlike the basic death benefit, this optional death benefit may provide value on or after the Income Date, which is the date on which you begin receiving annuity payments.  If the Income Date is before the Owner attains the age of 95, then this optional death benefit endorsement terminates and no death benefit is payable.  However, if the Income Date is on the date the Owner attains age of 95 (the latest possible Income Date), then the death benefit amount is equal to the excess, if any, of (a) minus (b) where:

(a) = the GMDB Benefit Base on the Income Date; and
 
(b) = the Contract Value on the Income Date.
 
If there is a death benefit amount on or after the Income Date, it will be payable to the Beneficiary when due proof of the Owner’s death is received by the Company in Good Order.  If the Owner is not deceased as of the date that the final annuity payment under the elected income option is due, the death benefit amount will be payable in a lump sum to the Owner along with the final annuity payment.


(a) The Contract’s Basic Death Benefit (see the description above); or
(b) The GMWB Death Benefit, as calculated under this death benefit.

The LifeGuard Freedom Flex DB is only available currently at issue and in conjunction with the purchase of the 6% Bonus and Annual Step-Up combination of LifeGuard Freedom Flex GMWB (the “LifeGuard Freedom Flex 6% Bonus and Annual Step-Ups Option”) and only if the Owner is 35 to 67 (70 for endorsements issued before April 29, 2013) years of age on the date that the endorsement is issued in connection with the Contract.  At election, the GMWB Death Benefit equals the LifeGuard Freedom Flex 6% Bonus and Annual Step-Ups Guaranteed Withdrawal Balance (GWB).  When purchased at Contract issuance, the GWB is your initial Premium payment, net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancements on the Premium payments.

At the time of a partial withdrawal, if the partial withdrawal plus all prior partial withdrawals made in the current Contract Year is less than or equal to the greater of (1) LifeGuard Freedom Flex 6% Bonus and Annual Step-Ups Option Guaranteed Annual Withdrawal Amount (GAWA) or (2) the required minimum distribution (RMD) under the Internal Revenue Code (for certain tax-qualified Contracts), the GMWB Death Benefit will be unchanged.  If a partial withdrawal plus all prior partial withdrawals made in the current Contract Year exceeds the greater of the GAWA or the RMD, the excess withdrawal is defined to be the lesser of (1) the amount of the partial withdrawal or (2) the amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD; and the GMWB Death Benefit is reduced in the same proportion as the Contract Value is reduced for the excess withdrawal.  Therefore, please note that withdrawing more than the greater of the GAWA or RMD, as applicable, in a Contract Year may have a significantly negative impact on the value of this benefit and may lead to its premature termination.

With each subsequent Premium received after this endorsement is effective, the GMWB Death Benefit is recalculated to equal the GMWB Death Benefit prior to the Premium payment plus the amount of the Premium payment, net of any applicable Premium taxes, plus (for endorsements issued before April 29, 2013) any Contract Enhancement, subject to a maximum of $5,000,000.

In addition, on the 7th Contract Anniversary following the effective date of the endorsement, the GMWB Death Benefit will automatically step-up to the Contract Value if the Contract Value is greater than the GMWB Death Benefit, subject to a maximum of $5,000,000.

The GMWB Death Benefit is not adjusted upon step-up of the LifeGuard Freedom Flex 6% Bonus and Annual Step-Ups GWB, the application of the GWB adjustment or the application of any bonus.  The GMWB Death Benefit will terminate on the date the Contract Value equals zero.
 
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Upon continuation of the Contract by a spousal Beneficiary, the surviving spouse may elect to terminate LifeGuard Freedom Flex 6% Bonus and Annual Step-Ups, in which case the GMWB death benefit will be included in the calculation of the continuation adjustment (the amount by which the death benefit that would have been payable exceeds the Contract Value).  If the spouse does not make such an election, the endorsement, including the death benefit thereunder, will continue in accordance with its terms, but the GMWB death benefit will not be included in the continuation adjustment.

For more information about how the LifeGuard Freedom Flex 6% Bonus and Annual Step-Ups works, including how the GWB and GAWA are calculated, please see “LifeGuard Freedom Flex GMWB” beginning on page 106.

Unlike the basic death benefit, LifeGuard Freedom Flex 6% Bonus and Annual Step-Ups may provide a death benefit on or after the Income Date, which is the date on which you begin receiving annuity payments.  If the Income Date is before the Owner attains the age of 95, then this endorsement terminates and no death benefit under the endorsement is payable.  However, if the Income Date is on the date the Owner attains age of 95 (the latest possible Income Date) and one of the following income options is elected, then the corresponding death benefit is payable:

●
Life Income of the GAWA.  If this income option is elected, the death benefit payable to the Beneficiary when due proof of the Owner’s (or either joint Owner’s) death is received by the Company in Good Order is equal to the GMWB Death Benefit as of the Income Date.
 
●
Specified Period Income of the GAWA.  If this income option is elected, the death benefit payable to the Beneficiary when due proof of the Owner’s (or either joint Owner’s) death is received by the Company in Good Order is equal to the GMWB Death Benefit as of the Income Date.
 
If, under this income option, no Owner is deceased as of the date that the final payment of the remaining GWB is due, the death benefit will be payable in a lump sum to the Owner(s) along with the remaining GWB.
 
●
Life Income.  If this income option is elected and the Owner is the Annuitant or is a non-natural person, the death benefit payable to the Beneficiary when due proof of the Annuitant’s death is received by the Company in Good Order is equal to the excess, if any, of (a) minus (b) where:
 
(a) = the GMWB Death Benefit on the Income Date; and
 
(b) = the Contract Value on the Income Date.
 
●
Joint and Survivor.  If this income option is elected and the Owner is the Annuitant or is a non-natural person, the death benefit payable to the Beneficiary when due proof of the survivor payee’s death is received by the Company in Good Order is equal to the excess, if any, of (a) minus (b) where:
 
(a) = the GMWB Death Benefit on the Income Date; and
 
(b) = the Contract Value on the Income Date.
 
●
Life Annuity With at Least 120 Monthly Payments.  If this income option is elected and the Owner is the Annuitant or is a non-natural person, the death benefit payable to the Beneficiary when due proof of the Annuitant’s death is received by the Company in Good Order is equal to the excess, if any, of (a) minus (b) where:
 
(a) = the GMWB Death Benefit on the Income Date; and
 
(b) = the Contract Value on the Income Date.

The death benefits under the Income Options vary depending on which Income Option you select. Either  the GMWB Death Benefit calculation, described above, with or without any remaining GWB, or the excess of the GMWB Death Benefit calculation over the Contract Value is payable. Each is computed on the Income Date. For more information on these Income Options, see “LifeGuard Freedom Flex GMWB – Annuitization” beginning on page 115, and  “Income Options” beginning on  page 136.
 
143
 

●
single lump sum payment; or
 
●
payment of entire death benefit within 5 years of the date of death; or
 
●
payment of the entire death benefit under an income option over the Beneficiary’s lifetime or for a period not extending beyond the Beneficiary’s life expectancy; or payment of a portion of the death benefit under an income option over the Beneficiary’s lifetime or for a period not extending beyond the Beneficiary’s life expectancy, with the balance of the death benefit payable to the Beneficiary.  Any portion of the death benefit not applied under an income option within one year of the Owner’s death, however, must be paid within five years of the date of the Owner’s death.

Under these payout options, the Beneficiary may also elect to receive additional lump sums at any time.  The receipt of any additional lump sums will reduce the future income payments to the Beneficiary.

Unless the Beneficiary chooses to receive the entire death benefit in a single sum, the Beneficiary must elect a payout option within the 60-day period beginning with the date we receive proof of death and payments must begin within one year of the date of death.  If the Beneficiary chooses to receive some or all of the death benefit in a single sum and all the necessary requirements are met, we will pay the death benefit within seven days. If your Beneficiary is your spouse, he/she may elect to continue the Contract, at the current Contract Value, in his/her own name.  For more information, please see “Special Spousal Continuation Option” beginning on page 144.

Pre-Selected Payout Options. As Owner, you may also make a predetermined selection of the death benefit payout option if your death occurs before the Income Date.  However, at the time of your death, we may modify the death benefit option if the death benefit you selected exceeds the life expectancy of the Beneficiary.  If this Pre-selected Death Benefit Option Election is in force at the time of your death, the payment of the death benefit may not be postponed, nor can the Contract be continued under any other provisions of this Contract.  This restriction applies even if the Beneficiary is your spouse, unless such restriction is prohibited by the Internal Revenue Code.  If the Beneficiary does not submit the required documentation for the death benefit to us within one year of your death, however, the death benefit must be paid, in a single lump sum, within five years of your death.  The Pre-selected Death Benefit Option may not be available in your state.

Special Spousal Continuation Option. If your spouse is the Beneficiary and elects to continue the Contract in his or her own name after your death, pursuant to the Special Spousal Continuation Option, no death benefit will be paid at that time.  Moreover, we will contribute to the Contract a continuation adjustment, which is the amount by which the death benefit that would have been payable exceeds the Contract Value.  We calculate this amount using the Contract Value and death benefit as of the date we receive completed forms and due proof of death from the Beneficiary of record and the spousal Beneficiary’s written request to continue the Contract (the “Continuation Date”).  We will add this amount to the Contract based on the current allocation instructions at the time of your death, subject to any minimum allocation restrictions, unless we receive other allocation instructions from your spouse.  The Special Spousal Continuation Option may not be available in your state.  See your financial advisor for information regarding the availability of the Special Spousal Continuation Option.

If your spouse continues the Contract in his/her own name under the Special Spousal Continuation Option, the new Contract Value will be considered the initial Premium for purposes of determining any future death benefit including any Earnings Protection Benefit under the Contract.  The age of the surviving spouse at the time of the continuation of the Contract will be used to determine all benefits under the Contract prospectively, so the death benefit may be at a different level.

If your spouse elects to continue the Contract, your spouse, as new Owner, cannot terminate most of the optional benefits you elected.  However, your spouse may then terminate the Earnings Protection Benefit and no further Earnings Protection Benefit charges will be deducted and no Earnings Protection Benefit will be paid upon your spouse’s death.  Any GMWB will also terminate upon your death (and no further GMWB charges will be deducted), unless your spouse is eligible for the benefit and elects to continue it with the Contract.  For more information, please see the respective GMWB subsections in this prospectus.

Unless your spouse discontinues the Earnings Protection Benefit on the Continuation Date, charges for the benefit will be deducted even though no Earnings Protection Benefit will apply if your spouse is 76 or older when the Contract is continued.
 
144

The Special Spousal Continuation Option is available to elect one time on the Contract.  However, if you have elected the Pre-Selected Death Benefit Option the Contract cannot be continued under the Special Spousal Continuation Option, unless preventing continuation would be prohibited by the Internal Revenue Code.  The Pre-Selected Death Benefit Option may not be available in your state.



If the Annuitant dies on or after the Income Date, any remaining guaranteed payment will be paid to the Beneficiary as provided for in the income option selected.  Any remaining guaranteed payment will be paid at least as rapidly as under the method of distribution in effect at the Annuitant’s death.


The following is only general information and is not intended as tax advice to any individual.  Additional tax information is included in the SAI.  You should consult your own tax adviser as to how these general rules will apply to you if you purchase a Contract.


Tax-Qualified and Non-Qualified Contracts. If you purchase your Contract as a part of a tax-qualified plan such as an Individual Retirement Annuity (IRA), Tax-Sheltered Annuity (sometimes referred to as a 403(b) Contract), or pension or profit-sharing plan (including a 401(k) Plan or H.R. 10 Plan) your Contract will be what is referred to as a tax-qualified contract.  Tax deferral under a tax-qualified contract arises under the specific provisions of the Internal Revenue Code (Code) governing the tax-qualified plan, so a tax-qualified contract should be purchased only for the features and benefits other than tax deferral that are available under a tax-qualified contract, and not for the purpose of obtaining tax deferral.  You should consult your own adviser regarding these features and benefits of the Contract prior to purchasing a tax-qualified contract.

If you do not purchase your Contract as a part of any tax-qualified pension plan, specially sponsored program or an individual retirement annuity, your Contract will be what is referred to as a non-qualified contract.

The amount of your tax liability on the earnings under and the amounts received from either a tax-qualified or a non-qualified Contract will vary depending on the specific tax rules applicable to your Contract and your particular circumstances.



Non-Qualified Contracts – Withdrawals and Income Payments.  Any withdrawal from a non-qualified Contract, including withdrawals under any GMWB you may elect, is taxable as ordinary income to the extent it does not exceed the accumulated earnings under the Contract.  In contrast, a part of each income payment under a non-qualified Contract is generally treated as a non-taxable return of Premium.  The balance of each income payment is taxable as ordinary income.  The amounts of the taxable and non-taxable portions of each income payment are determined based on the amount of the investment in the Contract and the length of the period over which income payments are to be made.  Income payments received after all of your investment in the Contract is recovered are fully taxable as ordinary income.  Additional information is provided in the SAI.
 
145

 
The Code also imposes a 10% penalty on certain taxable amounts received under a non-qualified Contract.  This penalty tax will not apply to any amounts:

●
paid on or after the date you reach age 59 1/2;
 
●
paid to your Beneficiary after you die;
 
●
paid if you become totally disabled (as that term is defined in the Code);
 
●
paid in a series of substantially equal periodic payments made annually (or more frequently) for your life (or life expectancy) or for a period not exceeding the joint lives (or joint life expectancies) of you and your Beneficiary;
 
●
paid under an immediate annuity; or
 
●
which come from Premiums made prior to August 14, 1982.

Beginning in 2013, the taxable portion of distributions from a non-qualified annuity Contract will be considered investment income for purposes of the new Medicare tax on investment income.  As a result, a 3.8% tax will generally apply to some or all of the taxable portion of distributions to individuals whose modified adjusted gross income exceeds certain threshold amounts.  These levels are $200,000 in the case of single taxpayers, $250,000 in the case of married taxpayers filing joint returns, and $125,000 in the case of married taxpayers filing separately.  Owners should consult their own tax advisers for more information.


The requirements of (b) above can be considered satisfied if any portion of the Owner’s interest which is payable to or for the benefit of a “designated beneficiary” is distributed over the life of such beneficiary or over a period not extending beyond the life expectancy of that beneficiary and such distributions begin within one year of that Owner’s death.  The Owner’s “designated beneficiary,” who must be a natural person, is the person designated by such Owner as a Beneficiary and to whom ownership of the Contract passes by reason of death.  However, if the Owner’s “designated beneficiary” is the surviving spouse of the Owner, the contract may be continued with the surviving spouse as the new Owner.

Tax-Qualified Contracts – Withdrawals and Income Payments. The Code imposes limits on loans, withdrawals, and income payments under tax-qualified Contracts.  The Code also imposes required minimum distributions for tax-qualified Contracts and a 10% penalty on certain taxable amounts received prematurely under a tax-qualified Contract.  These limits, required minimum distributions, tax penalties and the tax computation rules are summarized in the SAI.  Any withdrawals under a tax-qualified Contract, including withdrawals under any GMWB you may elect, will be taxable except to the extent they are allocable to an investment in the Contract (any after-tax contributions).  In most cases, there will be little or no investment in the Contract for a tax-qualified Contract because contributions will have been made on a pre-tax or tax-deductible basis.


●
reaches age 59 1/2;
 
●
leaves his/her job;
 
●
dies;
 
●
becomes disabled (as that term is defined in the Code); or
 
●
experiences hardship.  However, in the case of hardship, the Owner can only withdraw the Premium and not any earnings.

 
146
 
distribution requires that the individual has held the Roth IRA annuity for at least five years and, in addition, that the distribution is made either after the individual reaches age 59 1/2, on account of the individual’s death or disability, or as a qualified first-time home purchase, subject to $10,000 lifetime maximum, for the individual, or for a spouse, child, grandchild or ancestor.


●
there was a written agreement providing for payments of the fees solely from the annuity Contract,
 
●
the Contract Owner had no liability for the fees, and
 
●
the fees were paid solely from the annuity Contract to the adviser.





Owner Control. In a Revenue Ruling issued in 2003, the Internal Revenue Service (IRS) considered certain variable annuity and variable life insurance contracts and held that the types of actual and potential control that the contract owners could exercise over the investment assets held by the insurance company under these variable contracts was not sufficient to cause the contract owners to be treated as the owners of those assets and thus to be subject to current income tax on the income and gains produced by those assets.  Under the Contract, like the contracts described in the Revenue Ruling, there will be no arrangement, plan, contract or agreement between the contract owner and Jackson regarding the availability of a particular investment option and other than the contract owner’s right to allocate Premiums and transfer funds among the available sub-accounts, all investment decisions concerning the sub-accounts will be made by the insurance company or an advisor in its sole and absolute discretion.

The Contract will differ from the contracts described in the Revenue Ruling, in two respects.  The first difference is that the contract in the Revenue Ruling provided only 12 investment options with the insurance company having the ability to add an additional 8 options whereas a Contract currently offers 96 Investment Divisions and at least one Fixed Account Option, and, if more than 99 options are offered, a Contract Owner’s Contract Value can be allocated to no more than 99 fixed and variable options at any one time.  The second difference is that the owner of a contract in the Revenue Ruling could only make one transfer per 30-day period without a fee whereas during the accumulation phase, a Contract owner will be permitted to make up to 15 transfers in any one year without a charge.

The Revenue Ruling states that whether the owner of a variable contract is to be treated as the owner of the assets held by the insurance company under the contract will depend on all of the facts and circumstances.  Jackson does not believe that the differences between the Contract and the contracts described in the Revenue Ruling with respect to the number of investment choices and the number of investment transfers that can be made under the contract without an additional charge should prevent the holding in the Revenue Ruling from applying to the Owner of a Contract.  At this time, however, it cannot be determined whether additional guidance will be provided by the IRS on this issue and what standards may be contained in such guidance. We reserve the right to modify the Contract to the extent required to maintain favorable tax treatment.

 
147

Eligible rollover distributions from a Contract issued under certain types of tax-qualified plans will be subject to federal tax withholding at a mandatory 20% rate unless the distribution is made as a direct rollover to a tax-qualified plan or to an individual retirement account or annuity.

The Code generally allows the rollover of most distributions to and from tax-qualified plans, tax-sheltered annuities, Individual Retirement Annuities and eligible deferred compensation plans of state or local governments.  Distributions which may not be rolled over are those which are:

(a)
one of a series of substantially equal annual (or more frequent) payments made (a) over the life or life expectancy of the employee, (b) the joint lives or joint life expectancies of the employee and the employee’s beneficiary, or (c) for a specified period of ten years or more;
 
(b)
a required minimum distribution; or
 
(c)
a hardship withdrawal.


We will pay company income taxes on the taxable corporate earnings created by this separate account product adjusted for various permissible deductions and certain tax benefits discussed below.  While we may consider company income tax liabilities and tax benefits when pricing our products, we do not currently include our income tax liabilities in the charges you pay under the Contract.  We will periodically review the issue of charging for these taxes and may impose a charge in the future.  (We do impose a so-called “Federal (DAC) Tax Charge” under variable life insurance policies, but the “Federal (DAC) Tax Charge” merely compensates us for the required deferral of acquisition cost and does not constitute company income taxes.)

In calculating our corporate income tax liability, we derive certain corporate income tax benefits associated with the investment of company assets, including separate account assets that are treated as company assets under applicable income tax law.  These benefits reduce our overall corporate income tax liability.  Under current law, such benefits may include dividends received deductions and foreign tax credits which can be material.  We do not pass these benefits through to the separate accounts, principally because:  (i) the great bulk of the benefits results from the dividends received deduction, which involves no reduction in the dollar amount of dividends that the separate account receives; (ii) product owners are not the owners of the assets generating the benefits under applicable income tax law; and (iii) while we impose a so-called “Federal (DAC) Tax Charge” under variable life insurance policies, we do not currently include company income taxes in the charges owners pay under the products.


Dollar Cost Averaging. If the amount allocated to the Investment Divisions plus the amount allocated to a Fixed Account Option is at least $15,000, you can arrange to have a dollar amount or percentage of money periodically transferred automatically into the Investment Divisions and other Fixed Account Options (if currently available) (each a “Designated Option”) from the one-year Fixed Account Option (if currently available) or any of the Investment Divisions (each a “Source Option”).  If we impose any transfer restrictions on the one-year Fixed Account Option as discussed in numbered paragraphs 1-4 under “Transfers and Frequent Transfer Restrictions,” then (i) the one-year Fixed Account Option can be used as a Source Option for Dollar Cost Averaging only with respect to new Premiums that are allocated to that Source Option, (ii) only a twelve-month Dollar Cost Averaging period may be selected, (iii) transfers out of the one-year Fixed Account Option pursuant to such Dollar Cost Averaging will not count against the maximum amount limitations we have imposed on transfers out of the one-year Fixed Account Option and (iv) transfers from that Source Option other than such scheduled transfers will not be permitted.

To the extent that Fixed Account Options are not available or are otherwise restricted from being a Dollar Cost Averaging Source Option or Designated Option, Dollar Cost Averaging will be exclusively from or to the Investment Divisions.  In the case of transfers from the one-year Fixed Account Option or Investment Divisions with a less volatile unit value to the Investment Divisions, Dollar Cost Averaging can let you pay a lower average cost per unit over time than you would receive if you made a one-time purchase.  Transfers from the more volatile Investment Divisions may not result in lower average costs and such Investment Divisions may not be an appropriate source of dollar cost averaging transfers in volatile markets.

There is no charge for Dollar Cost Averaging.  You may cancel your Dollar Cost Averaging program using whatever methods you use to change your allocation instructions.  You should consult with your Jackson representative with respect to the current availability of Dollar Cost Averaging. Certain restrictions may apply.

 
148
 
DCA+ Fixed Account Option is selected, monies in the DCA+ Fixed Account Option will be systematically transferred to the Investment Divisions or other Fixed Account Options chosen over a DCA+ term of either twelve months or six months, as you select.

Transfers out of the DCA+ Fixed Account Option other than the automatic DCA+ transfers can be made only if you discontinue use of the DCA+ Fixed Account Option.  If we impose any transfer restrictions on the one-year Fixed Account Option as discussed in numbered paragraphs 1-4 under “Transfers and Frequent Transfer Restrictions,” then (i) you may not discontinue the DCA+ Fixed Account Option or otherwise transfer or withdraw any amounts from the DCA+ Fixed Account Option, but (ii) automatic transfers pursuant to DCA+ will not count against any maximum amount limitations we have imposed on transfers out of the one-year Fixed Account Option.

There is no charge for DCA+.  You may cancel your DCA+ program using whatever methods you use to change your allocation instructions.  You should consult your Jackson representative with respect to the current availability of the Fixed Account Options and the availability of DCA+.  Certain restrictions may apply.


There is no charge for Earnings Sweep.  You may cancel your Earnings Sweep program using whatever methods you use to change your allocation instructions.  You should consult with your Jackson representative with respect to the current availability of Earnings Sweep.  Certain restrictions may apply.

Rebalancing. You can arrange to have us automatically reallocate your Contract Value among Investment Divisions and the one-year Fixed Account Option (if currently available) periodically to maintain your selected allocation percentages.  Rebalancing will terminate if your rebalancing program includes the one-year Fixed Account Option and (i) we impose any transfer restrictions on the one-year Fixed Account Option as discussed in numbered paragraphs 1-4 under “Transfers and Frequent Transfer Restrictions” or (ii) we exercise our right to require that any Premiums allocated to the one-year Fixed Account Option be automatically transferred out of that option over a period of time that we specify.  In that case, however, you could re-elect automatic rebalancing without the one-year Fixed Account Option.  Rebalancing is consistent with maintaining your allocation of investments among market segments, although it is accomplished by reducing your Contract Value allocated to the better performing Investment Divisions.

There is no charge for Rebalancing. You may cancel your Rebalancing program using whatever methods you use to change your allocation instructions.  You should consult with your Jackson representative with respect to the current availability of Rebalancing.  Certain restrictions may apply.


●
the Contract Value, plus
 
●
any fees (other than asset-based fees) and expenses deducted from the Premiums, minus
 
●
any applicable Contract Enhancement recapture charges.

We will determine the Contract Value in the Investment Divisions as of the date we receive the Contract (subject to state variations). We will return Premium payments where required by law.  We will pay the applicable free look proceeds within seven days of a request in Good Order. If a Purchase Payment made by personal check or electronic draft is received within the five days preceding a free look request, we may delay payment of the free look proceeds up to seven days after the date of the request, to ensure the check or electronic draft is not returned due to insufficient funds. In some states, we are required to hold the Premiums of a senior citizen in the Fixed Account during the free look period, unless we are specifically directed to allocate the Premiums to the Investment Divisions.  State laws vary; your free look rights will depend on the laws of the state in which you purchased the Contract.


●
Total return is the overall change in the value of an investment in an Investment Division over a given period of time.
 
●
Standardized average annual total return is calculated in accordance with SEC guidelines.
 
 
149
 
●
Non-standardized total return may be for periods other than those required by, or may otherwise differ from, standardized average annual total return.  For example, if a Fund has been in existence longer than the Investment Division, we may show non-standardized performance for periods that begin on the inception date of the Fund, rather than the inception date of the Investment Division.
 
●
Yield refers to the income generated by an investment over a given period of time.

Performance will be calculated by determining the percentage change in the value of an Accumulation Unit by dividing the increase (decrease) for that unit by the value of the Accumulation Unit at the beginning of the period.  Performance will reflect the deduction of the mortality and expense risk and administration charges and may reflect the deduction of the annual contract maintenance and withdrawal charges, but will not reflect charges for optional features except in performance data used in sales materials that promote those optional features.  The deduction of withdrawal charges and/or the charges for optional features would reduce the percentage increase or make greater any percentage decrease.




It is important that you carefully review the information contained in the statements that confirm your transactions.  If you believe an error has occurred you must notify us in writing within 30 days of receipt of the statement so we can make any appropriate adjustments.  If we do not receive notice of any such potential error, we may not be responsible for correcting the error.


 
 
General Information and History
 
 
Services
 
 
Purchase of Securities Being Offered
 
 
Underwriters
 
 
Calculation of Performance
 
 
Additional Tax Information
 
 
Annuity Provisions
 
 
Net Investment Factor
 
 
Condensed Financial Information
 
 
Financial Statements of the Separate Account
 
 
Financial Statements of Jackson

150
 
APPENDIX A
 
TRADEMARKS, SERVICE MARKS, AND RELATED DISCLOSURES

“JNL®,” “Jackson National®,”  “Jackson®,” “Jackson of NY®” and “Jackson National Life Insurance Company of New York®” are trademarks of Jackson National Life Insurance Company®.

The “S&P 500 Index,” “S&P MidCap 400 Index,” “S&P SmallCap 600 Index,” “Dow Jones U.S. Contrarian Opportunities,” “Dow Jones Industrial Average,” and “The Dow 10,” “Dow Jones Brookfield Global Infrastructure Index,” “STANDARD & POOR’S®,” “S&P®,” “S&P 500®,” “S&P MIDCAP 400 Index®,” “STANDARD & POOR’S MIDCAP 400 Index®,” “S&P SmallCap 600 Index®” and “STANDARD & POOR’S 500®” (collectively, the “Indices”) are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Jackson National Life Insurance Company (“Jackson”).  “Dow Jones®”, “Dow Jones Industrial Average”, “DJIA®”, “The Dow®” and “The Dow 10” are service and/or trademarks of Dow Jones Trademark Holdings, LLC (“Dow Jones”) and have been licensed to SPDJI and have been sub-licensed for use for certain purposes by Jackson National Life Insurance Company® (“Jackson”).

The Dow Jones Brookfield Global Infrastructure Index is calculated by SPDJI pursuant to an agreement with Brookfield Redding, Inc. (together with its affiliates, “Brookfield”) and has been licensed for use. Standard & Poor’s®, S&P® and S&P 500®, S&P MidCap 400® and S&P SmallCap 600® are registered trademarks of Standard & Poor’s Financial Services LLC; Dow Jones U.S. Contrarian Opportunities Index is a service mark of Dow Jones; Brookfield® is a registered trademark of Brookfield Asset Management , Inc.; and the foregoing trademarks have been licensed by SPDJI for use.

The JNL/Mellon Capital S&P® SMid 60 Fund, JNL/Mellon Capital JNL 5 Fund, and the JNL/Mellon Capital S&P® 24 Fund, JNL/Mellon Capital S&P 500 Index Fund, JNL/Mellon S&P 400 MidCap Index Fund, JNL/Mellon Capital Dow Jones U.S. Contrarian Opportunities Index Fund, the JNL/Mellon Capital DowSM 10 Fund, and the JNL/Brookfield Global Infrastructure and MLP Fund (collectively, the “Products”) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, Standard & Poor’s Financial Services LLC, Brookfield or any of their respective affiliates (collectively, “S&P Dow Jones Indices”).

S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Products or any member of the public regarding the advisability of investing in securities generally or in the Products particularly or the ability of the Indices to track general market performance.  S&P Dow Jones Indices’ only relationship to Jackson with respect to the Indices or the Products is the licensing of the Indices and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors.  The Indices are determined, composed and calculated by S&P Dow Jones Indices without regard to Jackson or the Products.  S&P Dow Jones Indices have no obligation to take the needs of Jackson or the owners of the Products into consideration in determining, composing or calculating the Indices.  S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of the Products or the timing of the issuance or sale of the Products in the determination or calculation of the equation by which the Products are to be converted into cash, surrendered or redeemed, as the case may be.  S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing or trading of the Products. There is no assurance that investment products based on the Indices will accurately track index performance or provide positive investment returns.  S&P Dow Jones Indices LLC is not an investment advisor.  Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

Dow Jones, SPDJI and their respective affiliates do not:
 
●  
Sponsor, endorse, sell or promote the Products.
 
●
Recommend that any person invest in the Products.
 
●
Have any responsibility or liability for or make any decisions about the timing, amount or pricing of the Products.
 
●
Have any responsibility or liability for the administration, management or marketing of the Products.
 
●
Consider the needs of the Products or the owners of the Products in determining, composing or calculating the Indexes or have any obligation to do so.

Dow Jones, SPDJI and their respective affiliates will not have any liability in connection with the Products.  Specifically,
 
● Dow Jones, SPDJI and their respective affiliates do not make any warranty, express or implied, and Dow Jones, SPDJI and their respective affiliates disclaim any warranty about:
 
 
 ● The results to be obtained by the Products, the owners of the Products or any other person in connection with the use of the DJIA and the data included in the Indexes;
 
 
 ● The accuracy or completeness of the Indexes and its data;
 
 
A-1
 
 
 
 
   ●     The merchantability and the fitness for a particular purpose or use of the Indexes and its data;
 
    ●     Dow Jones, SPDJI and/or their respective affiliates will have no liability for any errors, omissions or interruptions in the Indexes or its data;
 
● Under no circumstances will Dow Jones, SPDJI and/or their respective affiliates be liable for any lost profits or indirect, punitive, special or consequential damages or losses, even if they know that they might occur.
 
The licensing agreement relating to the use of the Indexes and trademarks referred to above by Jackson and SPDJI is solely for the benefit of the Products and not for any other third parties.

S&P DOW JONES INDICES DO NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO.  S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS IN CALCULATING THE INDICES.  S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY JACKSON OR OWNERS OF THE PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR WITH RESPECT TO ANY DATA RELATED THERETO.  WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE.  THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND JACKSON, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

SPDR® is a registered trademark of Standard & Poor’s Financial Services LLC.  S&P Capital IQ is a trademark of Standard Financial Services LLC.

The following applies to the JNL/S&P Managed Growth Fund, JNL/S&P Managed Conservative Fund, JNL/S&P Managed Moderate Growth Fund, JNL/S&P Managed Moderate Fund, JNL/S&P Managed Aggressive Growth Fund, JNL/S&P Competitive Advantage Fund, JNL/S&P Dividend Income & Growth Fund, JNL/S&P Total Yield Fund, JNL/S&P Intrinsic Value Fund, JNL Mid 3 Fund and JNL/S&P 4 Fund.

Standard & Poor’s Investment Advisory Services LLC (“SPIAS”) is a registered investment advisor with the U.S. Securities and Exchange Commission and a wholly owned subsidiary of McGraw-Hill Financial, Inc. SPIAS does not provide advice to underlying clients of the firms to which it provides services. SPIAS does not act as a “fiduciary” or as an “investment manager,” as defined under ERISA, to any investor. SPIAS is not responsible for client suitability.

Programs and products of the firms to which SPIAS provides services are not endorsed, sold or promoted by SPIAS and its affiliates, and SPIAS and its affiliates make no representation regarding the advisability of investing in those programs and products. With respect to the asset allocations and investments recommended by SPIAS, investors should realize that such investment recommendations are provided to Jackson National Asset Management, LLC only as a general recommendation. The underlying funds of the JNL/S&P 4 Fund are co-sub-advised by SPIAS. SPIAS does not co-sub-advise the JNL/S&P 4 Fund. There is no agreement or understanding whatsoever that SPIAS will provide individualized advice to any investor. SPIAS does not take into account any information about any investor or any investor’s assets when providing investment advisory services to firms to which SPIAS provides services. SPIAS does not have any discretionary authority or control with respect to purchasing or selling securities or making other investments. Individual investors should ultimately rely on their own judgment and/or the judgment of a representative in making their investment decisions.

Standard & Poor’s  Financial Services LLC, SPIAS, and their affiliates (collectively S&P), and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively with S&P,  S&P Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and valuations, and are not responsible for errors and omissions, or for the results obtained from the use of such information, and S&P Parties shall have no liability for any errors, omission, or interruptions therein (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such information. S&P PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

S&P’s credit ratings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions.  S&P credit ratings should not be relied on when making any investment or
 
A-2
 
other business decision.  S&P’s opinions and analyses do not address the suitability of any security.  S&P does not act as a fiduciary or an investment advisor, except where registered as such. While S&P has obtained information from sources they believe to be reliable, S&P does not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives.

To the extent that regulatory authorities allow a rating agency to acknowledge in one jurisdiction a rating issued in another jurisdiction for certain regulatory purposes, S&P reserves the right to assign, withdraw or suspend such acknowledgement at any time and in its sole discretion. S&P Parties disclaim any duty whatsoever arising out of the assignment, withdrawal or suspension of an acknowledgment as well as any liability for any damage alleged to have been suffered on account thereof.

S&P keeps certain activities of its business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain business units of S&P may have information that is not available to other S&P business units. S&P has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process.

S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S&P reserves the right to disseminate its opinions and analyses. S&P’s public ratings and analyses are made available on its Web sites, www.standardandpoors.com (free of charge), and www.ratingsdirect.com and www.globalcreditportal.com (subscription), and may be distributed through other means, including via S&P publications and third party redistributors. Additional information about our ratings fees is available at www.standardandpoors.com/usratingsfees.

Based on a universe of funds provided to SPIAS, SPIAS may recommend for investment certain funds to which S&P licenses certain intellectual property or otherwise has a financial interest, including exchange-traded funds whose investment objective is to substantially replicate the returns of a proprietary index of S&P Dow Jones Indices, such as the S&P 500. SPIAS recommends these funds for investment based on asset allocation, sector representation, liquidity and other factors; however, SPIAS has a potential conflict of interest with respect to the inclusion of these funds.  In cases where S&P is paid fees that are tied to the amount of assets that are invested in the fund, investment in the fund will generally result in S&P earning compensation in addition to the fees received by SPIAS in connection with its provision of services.  In certain cases there may be alternative funds that are available for investment that will provide investors substantially similar exposure to the asset class or sector.

S&P provides a wide range of services to, or relating to, many organizations, including issuers of securities, investment advisers, broker-dealers, investment banks, other financial institutions and financial intermediaries, and accordingly may receive fees or other economic benefits from those organizations, including organizations whose securities or services they may recommend, rate, include in model portfolios, evaluate or otherwise address.

SPIAS may consider research and other information from affiliates in making its investment recommendations. The investment policies of certain portfolios specifically state that among the information SPIAS will consider in evaluating a security are the credit ratings assigned by S&P.  SPIAS does not consider the ratings assigned by other credit rating agencies. Credit rating criteria and scales may differ among credit rating agencies. Ratings assigned by other credit rating agencies may reflect more or less favorable opinions of creditworthiness than ratings assigned by S&P.

The Funds are not sponsored, endorsed, sold or promoted by S&P and its affiliates and S&P and its affiliates make no representation regarding the advisability of investing in the Funds.

Goldman Sachs is a registered service mark of Goldman, Sachs & Co.
 
The Product(s) is not sponsored, endorsed, sold or promoted by The Nasdaq Stock Market, Inc. (including its affiliates) (Nasdaq, with its affiliates, are referred to as the Corporations).  The Corporations have not passed on the legality or suitability of or the accuracy or adequacy of descriptions and disclosures relating to the Product(s).  The Corporations make no representation or warranty, express or implied to the Owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Nasdaq-100 Index® to track general stock market performance.  The Corporations’ only relationship to Jackson (Licensee) is in the licensing of the Nasdaq-100®, Nasdaq-100 Index® and Nasdaq® trademarks or service marks, and certain trade names of the Corporations and the use of the Nasdaq-100 Index® which is determined, composed and calculated by Nasdaq without regard to Licensee or the Product(s).  Nasdaq has no obligation to take the needs of the Licensee or the Owners of the Product(s) into consideration in determining, composing or calculating the Nasdaq-100 Index®.  The Corporations are not responsible for and have not participated in the determination of the timing of, prices at or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash.  The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).
 
The Corporations do not guarantee the accuracy and/or uninterrupted calculation of the Nasdaq-100 index® or any data included therein.  The Corporations make no warranty, express or implied, as to results to be obtained by Licensee, Owners of the product(s) or any other person or entity from the use of the Nasdaq-100 Index® or any data included therein.  The Corporations make no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the
 
A-3
 
Nasdaq-100 Index® or any data included therein.  Without limiting any of the foregoing, in no event shall the Corporations have any liability for any lost profits or special, incidental, punitive, indirect or consequential damages, even if notified of the possibility of such damages.
 
“The Nasdaq-100®,” “Nasdaq-100 Index®,” “Nasdaq Stock Market®” and “Nasdaq®” are trade or service marks of The Nasdaq, Inc. (which with its affiliates are the “Corporations”) and have been licensed for use by Jackson.  The Corporations have not passed on the legality or suitability of the JNL/Mellon Capital Nasdaq®25 Fund.  The JNL/Mellon Capital Nasdaq® 25 Fund is not issued, endorsed, sponsored, managed, sold or promoted by the Corporations.  THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE JNL/MELLON CAPITAL NASDAQ® 25 FUND.

Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes.  Russell is a trademark of Russell Investment Group.
 
JNL/Mellon Capital Small Cap Index Fund is not promoted, sponsored or endorsed by, nor in any way affiliated with Russell Investment Group (“Russell”).  Russell is not responsible for and has not reviewed JNL/Mellon Capital Small Cap Index Fund nor any associated literature or publications and Russell makes no representation or warranty, express or implied, as to their accuracy, or completeness, or otherwise.
 
Russell reserves the right, at any time and without notice, to alter, amend, terminate or in any way change the Russell Indexes.  Russell has no obligation to take the needs of any particular fund or its participants or any other product or person into consideration in determining, composing or calculating any of the Russell Indexes.
 
Russell’s publication of the Russell Indexes in no way suggests or implies an opinion by Russell as to the attractiveness or appropriateness of investment in any or all securities upon which the Russell Indexes are based.  RUSSELL MAKES NO REPRESENTATION, WARRANTY, OR GUARANTEE AS TO THE ACCURACY COMPLETENESS, RELIABILITY, OR OTHERWISE OF THE RUSSELL INDEXES.  RUSSELL MAKES NO REPRESENTATION, WARRANTY OR GUARANTEE REGARDING THE USE, OR THE RESULTS OF USE, OF THE RUSSELL INDEXES OR ANY DATA INCLUDED THEREIN, OR ANY SECURITY (OR COMBINATION THEREOF) COMPRISING THE RUSSELL INDEXES.  RUSSELL MAKES NO OTHER EXPRESS OR IMPLIED WARRANTY, AND EXPRESSLY DISCLAIMS ANY WARRANTY, OF ANY KIND, INCLUDING WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE RUSSELL INDEX(ES) OR ANY DATA OR ANY SECURITY (OR COMBINATION THEREOF) INCLUDED THEREIN.
 
THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR AND THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND ARE NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY MSCI INC. (“MSCI”), ANY OF ITS AFFILIATES, ANY OF ITS INFORMATION PROVIDERS OR ANY OTHER THIRD PARTY INVOLVED IN, OR RELATED TO, COMPILING, COMPUTING OR CREATING ANY MSCI INDEX (COLLECTIVELY, THE “MSCI PARTIES”).  THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI.  MSCI AND THE MSCI INDEX NAMES ARE SERVICE MARK(S) OF MSCI OR ITS AFFILIATES AND HAVE BEEN LICENSED FOR USE FOR CERTAIN PURPOSES BY JACKSON NATIONAL ASSET MANAGEMENT, LLC.  NONE OF THE MSCI PARTIES MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, TO THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY REGARDING THE ADVISABILITY OF INVESTING IN FUNDS GENERALLY OR IN THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND OR THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND PARTICULARLY OR THE ABILITY OF ANY MSCI INDEX TO TRACK CORRESPONDING STOCK MARKET PERFORMANCE.  MSCI OR ITS AFFILIATES ARE THE LICENSORS OF CERTAIN TRADEMARKS, SERVICE MARKS AND TRADE NAMES AND OF THE MSCI INDEXES WHICH ARE DETERMINED, COMPOSED AND CALCULATED BY MSCI WITHOUT REGARD TO THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE
 
A-4
 
JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND OR THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, ANY OTHER PERSON OR ENTITY, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND.  NONE OF THE MSCI PARTIES HAS ANY OBLIGATION TO TAKE THE NEEDS OF THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY INTO CONSIDERATION IN DETERMINING, COMPOSING OR CALCULATING THE MSCI INDEXES.  NONE OF THE MSCI PARTIES IS RESPONSIBLE FOR OR HAS PARTICIPATED IN THE DETERMINATION OF THE TIMING OF, PRICES AT, OR QUANTITIES OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND,  THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND TO BE ISSUED OR IN THE DETERMINATION OR CALCULATION OF THE EQUATION BY OR THE CONSIDERATION INTO WHICH THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND IS REDEEMABLE.  FURTHER, NONE OF THE MSCI PARTIES HAS ANY OBLIGATION OR LIABILITY TO THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY IN CONNECTION WITH THE ADMINISTRATION, MARKETING OR OFFERING OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND.

ALTHOUGH MSCI SHALL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE IN THE CALCULATION OF THE MSCI INDEXES FROM SOURCES THAT MSCI CONSIDERS RELIABLE, NONE OF THE MSCI PARTIES WARRANTS OR GUARANTEES THE ORIGINALITY, ACCURACY AND/OR THE COMPLETENESS OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN.  NONE OF THE MSCI PARTIES MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ISSUER OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND, OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND, OR ANY OTHER PERSON OR ENTITY, FROM THE USE OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN.  NONE OF THE MSCI PARTIES SHALL HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS OF OR IN CONNECTION WITH ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. FURTHER, NONE OF THE MSCI PARTIES MAKES ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND, AND THE MSCI PARTIES HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO EACH MSCI INDEX AND ANY DATA INCLUDED THEREIN.  WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
 
A-5

 
CONTRACT ENHANCEMENT RECAPTURE CHARGE PROSPECTUS EXAMPLES

Example 1 illustrates the application of the 4% Contract Enhancement endorsement to a Contract with a single Premium payment and the application of withdrawal charges (using the base withdrawal charge schedule) and recapture charges upon a partial withdrawal when earnings exceed 10% of Remaining Premium (and, therefore, there is no free withdrawal).  This example assumes that the Contract is issued on October 1, 2012, and that the Contract Value grows to $128,837.76 by September 30, 2016.  The Contract Owner requests that he or she be sent $100,000 on September 30, 2016.  The Contract Value will have to be reduced by not only the $100,000, but also by the applicable Withdrawal Charge and Recapture Charge owed to us given the amount of Premium withdrawn that is subject to those charges, as illustrated below.

Example 1
      
10/1/2012
   :
Contract Issue Date
      
$100,000.00
   : 
Premium
        
4.00%
   : 
Contract Enhancement Percentage
    
$4,000.00
   : 
Contract Enhancement (Premium ($100,000) multiplied by the Contract Enhancement Percentage (4.00%))
5.50%
   : 
Withdrawal Charge Percentage for Completed Year 3-4 (WC%)
    
2.50%
   : 
Recapture Charge Percentage for Completed Year 3-4 (RC%)
    
5.50%
   : 
Hypothetical Net Return
                 
At end of Year 4
          
9/30/2016
        
$128,837.76
   : 
Contract Value at end of Year 4
  
$100,000.00
   : 
Net Withdrawal Amount (The amount requested to be sent.)
  
                 
$28,837.76
   : 
Earnings (Contract Value ($128,837.76) less Premium ($100,000)), which are presumed to be withdrawn first and without charges.
$71,162.24
   :
Net Withdrawal Amount requested ($100,000) minus Earnings ($28,837.76).
$77,350.26
   : 
Corresponding Premium.  The amount to which the appropriate recapture charge percentage and withdrawal charge percentage are applied.  This amount is determined by multiplying the Net Withdrawal Amount requested minus Earnings ($71,162.24) by a factor determined by the percentage amounts of the applicable charges.  It is the actual amount of Premium that will need to be withdrawn to send the Contract Owner the Net Withdrawal Amount and apply the remainder to pay the charges to us.  In this example, the corresponding Premium is specifically calculated as follows: $71,162.24 X (1/[1 – (5.50% + 2.50%)]) = $77,350.26.  In this calculation, the 5.50% represents the WC%, and the 2.50% represents the RC%.
                 
$100,000.00
   :
Net Withdrawal Amount
    
$4,254.26
   :
Withdrawal Charge: $77,772.94 multiplied by WC% (5.50%)
    
$1,933.76
   : 
Recapture Charge: $77,772.94 multiplied by RC% (2.50%)
    
$106,188.02
   : 
Total Withdrawal Amount (Net Withdrawal requested ($100,000.00) plus the Withdrawal Charge ($4,254.26) and the Recapture Charge ($1,933.76) that is imposed on the withdrawal of Premium) which is the total amount deducted from the Contract Value
           
$22,649.74
   : 
Contract Value after Total Withdrawal ($128,837.76 less $106,188.02)
           

Example 2 illustrates the application of the 4% Contract Enhancement endorsement to a Contract with multiple Premium payments and the application of withdrawal charges (using the base withdrawal charge schedule) and recapture charges upon a partial withdrawal when earnings do not exceed 10% of Remaining Premium.  This example assumes that the Contract is issued on October 1, 2012, the Contract Owner makes an additional Premium payment of $100,000 on November 1, 2014, and that the Contract Value grows to $207,000 by December 15, 2014.  The Contract Owner requests that he or she be sent $150,000 on December 15, 2014.  The Contract Value will have to be reduced by not only the $150,000, but also by the applicable Withdrawal Charge and Recapture Charge owed to us given the amount of Premium withdrawn that is subject to those charges, as illustrated below.  For purposes of the withdrawal charge and recapture charge, we treat withdrawals as coming first from earnings, which are withdrawn without withdrawal charges and recapture charges, and then from the oldest Remaining Premium, which will have the lowest withdrawal charges and recapture charges of any Premium remaining in the Contract.
 
B-1
 
Example 2
      
10/1/2012  
:  Contract Issue Date
      
$100,000.00  
:  Premium 1
      
4.00%  
   Contract Enhancement Percentage
$4,000.00  
:  Contract Enhancement (Premium ($100,000) multiplied by the Contract Enhancement Percentage (4.00%))
6.50%  
:  Withdrawal Charge Percentage for Completed Year 2-3 (WC%1)
2.50%  
:  Recapture Charge Percentage for Completed Year 2-3 (RC%1)
             
11/1/2014  
            
$100,000.00  
:  Premium 2 received in Contract Year 2-3
    
3.00%  
:  Contract Enhancement Percentage for Premium received in Contract Year 2-3
$3,000.00  
:  Contract Enhancement (Premium ($100,000) multiplied by the Contract Enhancement Percentage (3.00%))
8.50%  
:  Withdrawal Charge Percentage for Completed Year 0-1 (since the receipt of the Premium) (WC%2)
2.50%  
:  Recapture Charge Percentage for Completed Year 0-1 (since the receipt of the Premium) (RC%2)
0.00%  
:  Hypothetical Net Return
    
             
12/15/2014  
            
$207,000.00  
:  Contract Value
  
$150,000.00  
:  Net Withdrawal Amount (The amount requested to be sent.)
  
             
$7,000.00  
:  Earnings (Contract Value ($207,000) less Premiums ($200,000)), which are presumed to be withdrawn first and without charges.
  $13,000.00  
:  Amount available for withdrawal under the free withdrawal provision [(Premium ($200,000) multiplied by 10%) less Earnings ($7,000)]
$130,000.00  
:  Net Withdrawal Amount ($150,000) requested minus Earnings ($7,000) and minus the free withdrawal amount ($13,000)).
   
$100,000.00  
:  Total Corresponding Premium 1, which is the oldest Remaining Premium. All of this Premium must be withdrawn to meet the requested Net Withdrawal Amount.
$91,000.00  
:  The amount of Premium 1 withdrawn after deducting the Withdrawal Charge and the Recapture Charge paid to us (Total Corresponding Premium 1 withdrawn ($100,000) less the Withdrawal Charge from Premium 1($100,000 multiplied by WC%1 (6.50%) equals $6,500) less the Recapture Charge from Premium 1 ($100,000 multiplied by RC%1 (2.50%) equals $2,500))
   
$39,000.00  
:  Net withdrawal amount needed from Premium 2, which is equal to the Net Withdrawal Amount requested ($150,000), minus Earnings ($7,000), minus the free withdrawal amount ($13,000), and minus the amount withdrawn from Premium 1 after deducting the Withdrawal Charge and the Recapture Charge ($91,000)
$43,820.22  
:  Total Corresponding Premium 2.   The amount of Premium 2 to which the appropriate recapture charge percentage and withdrawal charge percentage are applied.  This amount is determined by multiplying the net withdrawal amount needed from Premium 2 ($39,500) by a factor determined by the percentage amounts of the applicable charges.  In this example, the corresponding Premium 2 is specifically calculated as follows: $39,000 X (1/[1 – (8.50% + 2.50%)]) = $44,382.02.  In this calculation, the 8.50% represents the WC%2, and the 2.50% represents the RC%2.
             
$150,000.00  
:  Net Withdrawal Amount
    
$6,500.00  
:  Withdrawal Charge from Premium 1: $100,000 multiplied by WC%1 (6.50%)
$2,500.00  
:  Recapture Charge from Premium 1: $100,000 multiplied by RC%1 (2.50%)
$3,724.72  
:  Withdrawal Charge from Premium 2: $43,820.22 multiplied by WC%2 (8.50%)
$1,095.51  
:  Recapture Charge from Premium 2: $43,820.22 multiplied by RC%2 (2.50%)
$163,820.23  
:  Total Withdrawal Amount (Net Withdrawal requested ($150,000.00) plus the Withdrawal Charge ($6,500.00 plus $3,724.72 equals $10,224.72 in total Withdrawal Charges) and the Recapture Charge ($1095.51 plus $2,500.00 equals $3,595.51 in total Recapture Charges) that is imposed on the withdrawal of Premium) which is the total amount deducted from the Contract Value)
       
$43,179.77  
:  Contract Value after Total Withdrawal ($207,000.00 less $163,820.23)
    
       
 
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Example 3 illustrates the application of the 4% Contract Enhancement endorsement to a Contract with a single Premium payment and the application of recapture charges when a contract is annuitized and the corresponding Income Date is within the recapture charge schedule (please see the Recapture Charge Schedule(s) beginning on page 33 of this prospectus).  This example assumes that the Contract is issued on October 1, 2012, and that the Contract Value grows to $128,837.76 by September 30, 2016.  The Contract Owner requests to annuitize his or her Contract and the Income Date is September 30, 2016.

Example 3
          
10/1/2012  
:  Contract Issue Date
    
$100,000.00  
:  Premium
    
4.00%  
:  Contract Enhancement Percentage
  
$4,000.00  
:  Contract Enhancement (Premium ($100,000) multiplied by the Contract Enhancement Percentage (4.00%))
2.50%  
:  Recapture Charge Percentage for Completed Year 3-4 (RC%)
5.50%  
:  Hypothetical Net Return
     
At end of Year 4
        
9/30/2016  
:  Income Date
      
$128,837.76  
:  Contract Value at end of Year 4
      
$2,500.00  
:  Recapture Charge when the Income Date is at the end of Year 4: Premium ($100,000) multiplied by RC% (2.50%)
$126,337.76  
:  Contract Value to be annuitized (Contract Value less Recapture Charge on the Income Date)
   
 
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Below is a complete list of broker-dealers that received marketing and distribution and/or administrative support in 201 4 from the Distributor in relation to the sale of our variable insurance products.

1st Global Capital Corporation
Beaconsfield Financial Services
CCO Investment Services Corp
Crown Capital Securities LP
Adirondack Trading Group, LLC
Benchmark Investments, Inc.
Centaurus Financial Inc.
CUNA Brokerage Services, Inc.
Advisory Group Equity Services, Ltd.
Beneficial Investment Services
Centennial Securities Co., Inc.
CUSO Financial Services Inc.
Aegis Capital Corp
Benjamin F Edwards & Co
Center Street Securities, Inc.
Cutter and Company
Allegheny Investments, Ltd.
Berthel Fisher & Co. Financial Services
Century Securities & Associates, Inc.
D.A. Davidson & Co.
Allegiance Capital, LLC
BestVest Investments, Ltd.
Ceros Financial Services INC
Dalton Strategic Investment Services, Inc.
Allegis Investment Services
BFT Financial Group, LLC
Cetera
Davenport & Company LLC
Allen & Company of Florida, Inc.
Blakeslee & Blakeslee, Inc.
Cetera Advisor Networks LLC
David A. Noyes & Company
Allen, Mooney & Barnes Brokerage
BMO Harris Financial Advisors, Inc.
Cetera Advisors LLC
Davinci Capital Management Inc.
Services, LLC
Bolton Global Capital
Cetera Financial Specialists, LLC
Dempsey Lord Smith LLC
American Capital Partners, LLC
BOSC, Inc.
Cetera Investment Services LLC
Despain Financial Corporation
American Equity Investment Corp
Brighton Securities
CFD Investments, Inc.
Deutsche Bank Securities, Inc.
American Independent Securities Group, LLC
Broker Dealer Financial Services Corporation
CFS Investments, Inc.
DFPG Investments
American Investors Company
Brokers International Financial Services, LLC
Chelsea Financial Services
Dime Investment Services
American Portfolios Financial Services, Inc.
Brooklight Place Securities
Citigroup Global Markets Inc.
Dominion Investor Services
Ameriprise Advisor Services Inc.
Bruce A. Lefavi Securities, Inc.
Client One Securities, LLC
Double Eagle Securities of America Inc.
Ameriprise Financial Services Inc.
Buckman, Buckman & Reid, Inc.
Coastal Equities, Inc.
Duncan Williams, Inc.
Ameritas Investment Corporation
Bueter & Company, Inc.
Commonwealth Financial Network
Eagle Equities, Inc.
Arete Wealth Management
Cabot Lodge Securities LLC
Community America Financial
Economy Securities Incorporated
Arque Capital, Ltd
Cadaret, Grant & Co Inc.
Solutions LLC
EDI Financial Inc.
Arvest Asset Management
Calton & Associates, Inc.
Compass Bancshares Ins Inc.
Edward Jones & Company
Associated Investment Services
Cambridge Investment Research, Inc.
Comprehensive Asset Management and
Edwin C. Blitz Investments
AURORA CAPITAL LLC
Cantella & Co, Inc.
Servicing, Inc.
Equity Services Inc.
Ausdal Financial Partners, Inc.
Cape Securities Inc.
Concorde Investment Services, LLC
Essex National Securities Inc.
Avalon Investment & Securities Group Inc.
Capital City Securities, LLC
Conover Securities Corporation
Fairport Capital, Inc.
AXA Advisors, LLC
Capital Financial Services
Coordinated Capital Securities, Inc.
FCG Advisors, LLC
B.C. Ziegler & Company
Capital Guardian, LLC
Core Capital Investments
Fenwick Securities, Inc.
BancWest Investment Services, Inc.
Capital Investment Group, Inc.
CoreCap Investments Inc.
Fifth Third Securities
Bankers & Investors Company
Capital One Investment Services, LLC
Correll Co. Investment Services
Financial Planning Consultants
Bannon, Ohanesian & Lecours, Inc.
Capital Synergy Partners, Inc.
Corporation
Financial Telesis Inc.
BB&T Investment Services Inc.
Capitol Securities Management, Inc.
Country Capital Management Co.
Financial West Investment Group
BB&T Securities, LLC
Cary Street Partners LLC
Country Club Financial Services Inc.
Fintegra Financial Solutions
BBVA Compass Investment Solutions Inc.
CBIZ Financial Solutions, Inc.
Cresap, Inc.
First Allied Securities, Inc
BCG Securities, Inc.
CCF Investments, Inc.
CREWS & ASSOCIATES Inc.
First American Securities
 
C-1
 
First Brokerage America LLC
Gradient Securities, LLC
Investment Professionals Inc.
Madison Avenue Securities, Inc.
First Citizens Financial Plus Inc.
Great Nation Investment Corporation
Investors Capital Corporation
McLaughlin Ryder Investments, Inc.
First Citizens Investor Services
Gregory Group
Investors Insurance Services
McNally Financial Services Corp
First Citizens Securities Corp.
GWN Securities Inc.
J P Turner & Co. LLC
Mercap Securities LLC
First Financial Equity Corporation
H  Beck Inc.
J.W. Cole Financial Inc.
Mercer Allied Company, LP
First Heartland Capital, Inc.
H.D. Vest Investment Securities, Inc.
James T Borello & Co
Merrill Lynch
First Independent Financial Services
Halliday Financial
Janney, Montgomery Scott, LLC
Metlife Securities, Inc.
First Kentucky Securities Corporation
Hancock Investment Services LLC
JHS Capital Advisors Inc.
Michigan Securities, Inc.
First Midwest Securities
Hantz Financial Services
JJB Hilliard WL Lyons LLC
Mid Atlantic Capital Corporation
First National Capital Markets
Harbor Financial Services, LLC
John Hancock
Midamerica Financial Services Inc.
First Republic Securities Co.
Harbour Investments, Inc.
JP Morgan Securities
Mid-Atlantic Securities Inc.
First Tennessee Brokerage, Inc.
HARGER & COMPANY
JRL Capital Corporation
Minnesota – Deal Direct
First Western Securities, Inc.
Harger and Company, Inc.
Kalos Capital, Inc.
Mischler Financial Group, Inc.
FirstMerit Financial Services, Inc.
Harris Bancorp Insurance Services, Inc.
KCD Financial, Inc.
MML Investors Services, LLC
Focus Insurance Agency Inc.
Harvest Capital, LLC
Keppler Associates Inc.
Moloney Securities Co., Inc.
Foothill Securities, Inc.
Hazard & Siegel, Inc.
Key Investment Services
Money Concepts Capital Corp
Foresters Equity Services Inc.
HBW Securities, LLC
Keystone Capital Corporation
Money Concepts International
Fortune Financial Services, Inc.
Hefren-Tillotson, Inc.
KMS Financial Services Inc
Moors & Cabot, Inc.
Founders Financial Securities, LLC
Hornor, Townsend & Kent Inc.
Kovack Securities, Inc.
Morgan Stanley Smith Barney LLC
Fourth Street Financial Group, Inc.
HSBC Securities
L.M. Kohn & Company, Inc.
Morris Group, Inc.
FP Transitions LLC
Huntleigh Securities Corporation
Larson Financial
Moss Adams Securities & Insurance LLC
Frankenmuth Credit Union
IBC Investments
Lasalle St. Securities, LLC
Mutual of Omaha Investor Services Inc.
FSC Securities Corporation
IBN Financial Services, Inc.
Legend Equities Corporation
Mutual Securities, Inc.
FTB Advisors, Inc.
ICBA Financial Services
Leigh Baldwin & Co
Mutual Trust Company of America Sec.
Fulcrum Securities Inc.
IFS Securities
Leumi Investment Services, Inc.
National Planning Corporation
G F Investment Services
IMS Securities Inc.
LF Financial LLC
National Securities Corporation
G.W. Sherwold Associates Inc.
Independence Capital Co.
Liberty Group, LLC
Nations Financial Group, Inc.
G. A. Repple & Company
Independent Financial Group, LLC
Liberty Partners Financial Services,
Nationwide Planning Associates
Garden State Securities
Indiana Merchant Banking and Brokerage
LLC
Nationwide Securities, LLC
Gardner Financial Services, Inc.
Infinex Investments, Inc.
LifeMark Securities Corporation
Navy Federal Brokerage Services, LLC
Gary Goldbert & Company
Infinity Securities Inc.
Lincoln Financial Advisors Corporation
NBC Securities Inc.
GCD Advisors, LLC
ING/Voya Financial Advisers Inc.
Lincoln Financial Securities Corporation
New England Securities Corporation
Geneos Wealth Management, Inc.
Institutional Securities Corporation
Lincoln Investment Planning Inc.
New Horizons Asset Management
Gentry Partners Ltd
Intercarolina Financial Services, Inc.
Lombard Securities
Newbridge Securities Corporation
GFA Securities LLC
Intercontinental Asset Management Group
Long Island Financial Group, Inc.
Newport Coast Securities
Girard Securities, Inc.
INTERVEST INTERNATIONAL
LPL Financial Services
NEXT Financial Group, Inc.
Global Brokerage Services, Inc.
INVEST Financial Corporation
Lucia Securities, LLC
NFP Securities, Inc.
Globalink Securities Inc.
Investacorp, Inc.
M Griffith Investment Services
Nicol Investors Corporation
GLP Investment Services, LLC
Investment Centers of America Inc.
M. Holdings Securities, Inc.
North Ridge Securities Corporation
Gold Coast Securities, Inc.
Investment Network, Inc.
Mack Investment Securities, Inc.
Northeast Securities, Inc.
 
C-2
 
Northwestern Mutual Investment Services,
Regulus Advisors LLC
SunTrust Investment Services, Inc.
Variable Investment Advisors, Inc.
LLC
Rendler Sales Consulting, LLC
SWBC Investment Services
VSR Financial Services, Inc.
NPB Financial Group, LLC
Resource Horizons Group
SWS Financial Services, Inc.
Waddell & Reed, Inc.
NYLife Securities, Inc.
Rhodes Securities, Inc.
Symetra Securities Inc.
Wall Street Financial Group
O.N. Equity Sales Company
Ridgeway & Conger Inc.
Symphonic Securities LLC
Wall Street Strategies Inc.
Oak Grove Investment Services, Inc.
RNR Securities LLC
Synovus Securities Inc.
Wayne Hummer Investments, LLC
Oak Tree Securities, Inc.
Robert W. Baird & Co. Inc.
T.S. Phillips Investments, Inc.
Wedbush Securities Inc.
OFG Financial Services, Inc.
Rogan and Associates
Taylor Capital Management
Wellington Shields & Co. LLC
OneAmerica Securities, Inc.
Royal Alliance Associates Inc
Teckmeyer Financial Services
Wells Fargo Advisors LLC
Oppenheimer & Co. Inc.
Royal Securities Company
TFS Securities, Inc.
WesBanco Securities, Inc.
Packerland Brokerage Services
Sagepoint Financial Inc.
The Gregory Group Inc.
Wescom Financial Services, LLC
Paradigm Equities, Inc.
Sandlapper Securities LLC
The Huntington Investment Company
Western International Securities Inc.
Park Avenue Securities LLC
Santander Securities LLC
The Investment Center, Inc.
Westminster Financial Securities
Parkland Securities, LLC/Sammons Securities
Saxony Securities, Inc.
The Leaders Group, Inc.
Westport Capital Markets, LLC
Company LLC
SCF Securities, Inc.
The O.N. Equity Sales Company
WFG Investments, Inc.
Parsonex Securities, LLC
Schlitt Investor Services Inc.
The Strategic Financial Alliance, Inc.
Wilbanks Securities, Inc.
Peoples Securities Inc.
Securian Financial Services, Inc.
The Windmill Group
William C. Burnside & Company, Inc.
Petersen Investments, Inc.
Securities America, Inc.
Thomas McDonald Partners
Williams Financial Group
PFA Security Asset Management Inc.
Securities Equity Group
Thoroughbred Financial Services, LLC
Woodbury Financial Services, Inc.
Phillips Securities Insurance Agency
Securities Management & Research, Inc.
Thrivent Investment Management
Woodmen Financial Services, Inc.
PlanMember Securities Corporation
Securities Service Network Inc.
Thurston, Springer, Miller, Herd and
World Equity Group, Inc.
Planned Investment Co, Inc.
Sigma Financial Corporation
Titak Inc.
World Financial Group
PNC Investments LLC
Signator Financial Services, Inc.
Titlelist Asset Management Ltd.
Worth Financial Group Inc.
Port Securities, Inc.
Signator Investors, Inc.
TransAm Securities, Inc.
WRP Investments, Inc.
Presidential Brokerage, Inc.
SII Investments Inc.
Transamerica Financial Advisors, Inc.
Wunderlich Securities, Inc.
Prime Capital Services Inc.
Silver Oak Securities
Triad Advisors, Inc.
WWK Investments, Inc.
Prime Solutions Securities, Inc.
Sorrento Pacific Financial, LLC
Tricor Financial, LLC
 
Princor Financial Services
Southeast Investments, N.C., Inc.
Trustmont Financial Group, Inc.
 
Private Client Services, LLC
Southwest Securities, Inc.
UBS Financial Services, Inc.
 
Pro Equities, Inc.
St. Bernard Financial Services, Inc.
Umpqua Investments Inc.
 
Prospera Financial Services Inc.
Stephens Inc.
UnionBanc Investment Services LLC
 
PTS Brokerage LLC
Sterne Agee Financial Services Inc.
United Brokerage Services, Inc.
 
Purshe Kaplan Sterling Investments
Sterne, Agee & Leach, Inc.
United Planners Financial Services of
 
Quayle & Co. Securities
Stifel Nicolaus & Company Inc.
America
 
Quest Securities
Strategic Financial Alliance
Univest Investments Inc.
 
Questar Capital Corporation
Summit Brokerage Services Inc.
U.S. Bancorp Investments, Inc.
 
Quick and Reilly Inc.
Summit Equities, Inc.
USA Financial Securities Corporation
 
Raymond James & Associates Inc.
Summitt Brokerage Services
Uvest Financial Services Group, Inc.
 
RBC Capital Markets Corporation
Sun America Securities
Valic Financial Advisors Inc.
 
RBC Dain Rauscher Inc.
Sun Trust Capital Markets
ValMark Securities, Inc.
 
Regal Securities, Inc.
Sunset Financial Services, Inc.
Vanderbilt Securities LLC Inc
 

C-3
 
GMWB PROSPECTUS EXAMPLES

I.
SAFEGUARD MAX (No longer offered as of April 29, 2013)
 
Unless otherwise specified, the following examples assume you elected SafeGuard Max GMWB with a 7% benefit when you purchased your Contract, no other optional benefits were elected, your initial Premium payment was $100,000, your GAWA is greater than your RMD (if applicable) at the time a withdrawal is requested, all partial withdrawals requested include any applicable charges, and no prior partial withdrawals have been made. The examples also assume that the GMWB has not been terminated as described in the Access to Your Money section of this prospectus.
 
Example 1: This example demonstrates how GMWB values are set at election.

§
Example 1a: If the GMWB is elected at issue:
¨
Your initial GWB is $100,000, which is your initial Premium payment.
¨
Your GAWA is $7,000, which is 7% of your initial GWB ($100,000*0.07 = $7,000).

§
Example 1b: If the GMWB is elected after issue (if permitted) when the Contract Value is $105,000 and your Contract includes a Contract Enhancement with a total Recapture Charge of $5,000 at the time the GMWB is elected:
¨
Your initial GWB is $100,000, which is your Contract Value ($105,000) less the Recapture Charge ($5,000) on the effective date of the endorsement.
¨
Your GAWA is $7,000, which is 7% of your initial GWB ($100,000*0.07 = $7,000).

§
Example 1c: If the GMWB is elected after issue (if permitted) or you convert to another GMWB, if permitted, when the Contract Value is $110,000 and your Contract includes a Contract Enhancement with a total Recapture Charge of $5,000 at the time the GMWB is elected or converted:
¨
Your initial GWB in your new GMWB is $105,000, which is your Contract Value ($110,000) less the Recapture Charge ($5,000) on the effective date of the endorsement.  If you converted your GMWB when the GWB for your former GMWB was $120,000 and the Contract Value less the Recapture Charge declined to $105,000 prior to the conversion date, the conversion to the new GMWB would result in a $15,000 reduction in the GWB.
¨
Your GAWA is $7,350, which is 7% of your initial GWB ($105,000*0.07 = $7,350).

§
Notes:
¨
Your GAWA% and GAWA are not determined until the earlier of the time of your first withdrawal or the date that your Contract Value reduces to zero.

Example 2: This example demonstrates how your GAWA% is determined.  Your GAWA% is determined on the earlier of the time of your first withdrawal or the date that your Contract Value reduces to zero. Your GAWA% is set based upon your attained age at that time.  Your initial GAWA is determined based on this GAWA% and the GWB at that time.

§
If, at the time the GAWA% is determined, your GAWA% is 7% based on your attained age and your GWB is $100,000, your initial GAWA is $7,000, which is your GAWA% multiplied by your GWB at that time ($100,000 * 0.07 = $7,000).

Example 3: This example demonstrates how upon payment of a subsequent Premium, GMWB values may be re-determined.

§
Example 3a: This example demonstrates what happens if you make an additional Premium payment of $50,000, your GWB is $100,000 at the time of payment, and your Contract includes a Contract Enhancement provision which provides $2,500 to your Contract at the time of the Premium payment:
¨
Your new GWB is $150,000, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment ($50,000).  Your GWB is subject to a maximum of $5,000,000 (see Example 3b).
¨
Your GAWA is $10,500, which is your GAWA prior to the additional Premium payment ($7,000) plus 7% of your additional Premium payment ($50,000*0.07 = $3,500).

§
Example 3b: This example demonstrates how GWB and GAWA are affected by the GWB $5,000,000 maximum, upon payment of a subsequent Premium.  If you make an additional Premium payment of $100,000 and your GWB is $4,950,000 and your GAWA is $346,500 at the time of payment:
¨
Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment ($100,000) exceeds the maximum of $5,000,000.
¨
Your GAWA is $350,000, which is your GAWA prior to the additional Premium payment ($346,500) plus 7% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.07 = $3,500).

§
Notes:
¨
Your GAWA is recalculated upon payment of an additional Premium (as described above) only if such payment occurs after your GAWA % has been determined.

Example 4: This example demonstrates how GMWB values are re-determined upon withdrawal of the guaranteed amount (which is your GAWA for endorsements for non-qualified and qualified Contracts that do not permit withdrawals in excess of the GAWA or which is the greater of your GAWA or your RMD for those GMWBs related to qualified Contracts that permit withdrawals in excess of the GAWA to equal your RMD).

§
Example 4a: This example demonstrates what happens if you withdraw an amount equal to your GAWA ($7,000) when your GWB is $100,000:
¨
Your new GWB is $93,000, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($7,000).
¨
Your GAWA for the next year remains $7,000, since you did not withdraw an amount that exceeds your GAWA.
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 14 years to deplete your GWB ($93,000 / $7,000 per year = 14 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 4b: This example demonstrates what happens if you withdraw an amount equal to your RMD ($7,500), which is greater than your GAWA ($7,000) when your GWB is $100,000 and the RMD provision is in effect for your endorsement:
¨
Your new GWB is $92,500, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($7,500).
¨
Your GAWA for the next year remains $7,000, since your withdrawal did not exceed the greater of your GAWA ($7,000) or your RMD ($7,500).
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 14 years to deplete your GWB ($92,500 / $7,000 per year = 14 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
If your GAWA falls below your GWB at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 5: This example demonstrates how GMWB values are re-determined upon withdrawal of an amount that exceeds your guaranteed amount (as defined in Example 4).

§
Example 5a – SafeGuard Max: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($7,000) when your Contract Value is $146,500 and your GWB is $100,000:
¨
Your  new GWB is $91,000, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $7,000)*(1 - ($10,000 - $7,000) / ($146,500 - $7,000)) = $91,000].
¨
Your GAWA is recalculated to equal $6,849, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$7,000 * (1 - ($10,000 - $7,000) / ($146,500 - $7,000)) = $6,849].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 14 years to deplete your GWB ($91,000 / $6849 per year = 14 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 5b: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($7,000) when your Contract Value is $105,000 and your GWB is $100,000:
¨
Your new GWB is $90,153, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $7,000)*(1 - ($10,000 - $7,000) / ($105,000 - $7,000)) = $90,153].
¨
Your GAWA is recalculated to equal $6,786, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$7,000 * (1 - ($10,000 - $7,000)/($105,000 - $7,000)) = $6,785].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 14 years to deplete your GWB ($90,153 / $6,786 per year = 14 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 5c: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($7,000) when your Contract Value is $55,000 and your GWB is $100,000:
¨
Your new GWB is $87,188, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $7,000) * (1 - ($10,000 - $7,000) / ($55,000 - $7,000)) = $87,188].
¨
Your GAWA is recalculated to equal $6,563, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$7,000*(1-($10,000-$7,000)/($55,000 - $7,000))=$6,563].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 14 years to deplete your GWB ($87,188 / $6,563 per year = 14 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
If your GAWA falls below your GWB at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 6: This example illustrates how GMWB values are re-determined upon step-up.

§
Example 6a: This example demonstrates what happens if at the time of step-up your Contract Value is $200,000, your GWB is $90,000, and your GAWA is $7,000:
¨
Your new GWB is recalculated to equal $200,000, which is equal to your Contract Value.
¨
Your GAWA for the next year is recalculated to equal $14,000, which is the greater of 1) your GAWA prior to the step-up ($7,000) or 2) 7% of your new GWB ($200,000*0.07 = $14,000).
-
After step-up, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 15 years to deplete your GWB ($200,000 / $14,000 per year = 15 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 6b: This example demonstrates what happens if at the time of step-up your Contract Value is $90,000, your GWB is $80,000, and your GAWA is $7,000:
¨
Your new GWB is recalculated to equal $90,000, which is equal to your Contract Value.
¨
Your GAWA for the next year remains $7,000, which is the greater of 1) your GAWA prior to the step-up ($7,000) or 2) 7% of your new GWB ($90,000*0.07 = $6,300).
-
After step-up, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 13 years to deplete your GWB ($90,000 / $7,000 per year = 13 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
The Company may increase the GMWB charge upon step-up. By not electing to step-up, you can avoid the potential increase in charge due to step-up. You should carefully consider this decision and consult your representative.
¨
Your GAWA is recalculated upon step-up (as described above) only if the step-up occurs after your GAWA% has been determined.

Example 7: This example demonstrates how the timing of a withdrawal request interacts with the timing of the step-up provision to impact re-determination of GMWB values.

§
Example 7a: This example demonstrates what happens if prior to any transactions your Contract Value is $200,000, your GAWA is $7,000, your GAWA% is not eligible for re-determination upon step-up, your GWB is $100,000 and you wish to step-up your GWB (or your GWB is due to step-up automatically) and you also wish to take a withdrawal of an amount equal to $7,000:
¨
If you request the withdrawal the day after the step-up, upon step-up, your GWB is set equal to $200,000, which is your Contract Value.  At that time, your GAWA is recalculated and is equal to $14,000, which is the greater of 1) your GAWA prior to the step-up ($7,000) or 2) 7% of your new GWB ($200,000*0.07 = $14,000).  On the day following the step-up and after the withdrawal of $7,000, your new GWB is $193,000, which is your GWB less the amount of the withdrawal ($200,000 - $7,000 = $193,000) and your GAWA will remain at $14,000 since the amount of the withdrawal does not exceed your GAWA.  If you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 14 years to deplete your GWB ($193,000 / $14,000 per year = approximately 14 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  .
¨
If you request the withdrawal prior to the step-up, immediately following the withdrawal transaction, your new GWB is $93,000, which is your GWB less the amount of the withdrawal ($100,000 - $7,000 = $93,000) and your Contract Value becomes $193,000, which is your Contract Value prior to the withdrawal less the amount of the withdrawal ($200,000 - $7,000 = $193,000).  Upon step-up following the withdrawal, your GWB is set equal to $193,000, which is your Contract Value.  At that time, your GAWA is recalculated and is equal to $13,510, which is the greater of 1) your GAWA prior to the step-up ($7,000) or 2) 7% of your new GWB ($193,000*0.07 = $13,510).  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 15 years to deplete your GWB ($193,000 / $13,510 per year = 15 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
As the example illustrates, when considering a request for a withdrawal at or near the same time as the election of a step-up, the order of the transactions may impact your GAWA.
-
If the step-up would result in an increase in your GAWA and the requested withdrawal is less than or equal to your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.
-
If the step-up would result in an increase in your GAWA, and the requested withdrawal is greater than your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.
- Otherwise, your GAWA resulting from the transactions is the same regardless of the order of transactions.
¨
This example would also apply in situations when the withdrawal exceeded your GAWA but not your permissible RMD.
¨
The Company may increase the GMWB charge upon step-up.
¨
Your GAWA% is determined at the time of the withdrawal (if not previously determined).
¨
If your GAWA falls below your GWB at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

II.    AUTOGUARD 5, AUTOGUARD 6 (AutoGuard 6 no longer offered as of April 29, 2013)

Unless otherwise specified, the following examples assume you elected an AutoGuard 5 GMWB with a 5% benefit when you purchased your Contract, no other optional benefits were elected, your initial Premium payment was $100,000, your GAWA is greater than your RMD (if applicable) at the time a withdrawal is requested, all partial withdrawals requested include any applicable charges, and no prior partial withdrawals have been made. The examples also assume that the GMWB has not been terminated as described in the Access to Your Money section of this prospectus.  If you elected an AutoGuard 6 GMWB instead of an AutoGuard 5 GMWB, the examples will still apply, given that you replace the 5% in each of the GAWA calculations with a 6%.

Example 1: This example demonstrates how GMWB values are set at election.

§
Example 1a: If the GMWB is elected at issue:
¨
Your initial GWB is $100,000, which is your initial Premium payment.
¨
Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5,000).

§
Example 1b : If the GMWB is elected after issue (if permitted) when the Contract Value is $105,000 and your Contract includes a Contract Enhancement at the time the GMWB is elected:
¨
Your initial GWB is $105,000, which is your Contract Value ($105,000) on the effective date of the endorsement.
¨
Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).

Example 2: This example demonstrates how your GAWA is determined.

§
If your GAWA% is 5% based on your Contract and your GWB is $100,000, your initial GAWA is $5,000, which is your GAWA% multiplied by your GWB at that time ($100,000 * 0.05 = $5,000).

Example 3: This example demonstrates how upon payment of a subsequent Premium, GMWB values may be re-determined.

§
Example 3a: This example demonstrates what happens if you make an additional Premium payment of $50,000, your GWB is $100,000 at the time of payment, and your Contract includes a Contract Enhancement provision which provides $2,500 to your Contract at the time of the Premium payment:
¨
Your new GWB is $152,500, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment ($50,000) plus the Contract Enhancement resulting from the Premium payment ($2,500).  Your GWB is subject to a maximum of $5,000,000 (see Example 3b).
¨
Your GAWA is $7,625, which is your GAWA prior to the additional Premium payment ($5,000) plus 5% of the amount of increase in your GWB resulting from the additional Premium payment

§
Example 3b: This example demonstrates how GWB and GAWA are affected by the GWB $5,000,000 maximum, upon payment of a subsequent Premium.  If you make an additional Premium payment of $100,000 and your GWB is $4,950,000 and your GAWA is $247,500 at the time of payment:
¨
Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment ($100,000) exceeds the maximum of $5,000,000.
¨
Your GAWA is $250,000, which is your GAWA prior to the additional Premium payment ($247,500) plus 5% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.05 = $2,500).

Example 4: This example demonstrates how GMWB values are re-determined upon withdrawal of the guaranteed amount (which is your GAWA for endorsements for non-qualified and qualified Contracts that do not permit withdrawals in excess of the GAWA or which is the greater of your GAWA or your RMD for those GMWBs related to qualified Contracts that permit withdrawals in excess of the GAWA to equal your RMD).

§
Example 4a: This example demonstrates what happens if you withdraw an amount equal to your GAWA ($5,000) when your GWB is $100,000:
¨
Your new GWB is $95,000, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($5,000).
¨
Your GAWA for the next year remains $5,000, since you did not withdraw an amount that exceeds your GAWA.
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($95,000 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 4b: This example demonstrates what happens if you withdraw an amount equal to your RMD ($7,500), which is greater than your GAWA ($5,000) when your GWB is $100,000 and the RMD provision is in effect for your endorsement:
¨
Your new GWB is $92,500, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($7,500).
¨
Your GAWA for the next year remains $5,000, since your withdrawal did not exceed the greater of your GAWA ($5,000) or your RMD ($7,500).
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($92,500 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
If your GAWA falls below your GWB at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 5: This example demonstrates how GMWB values are re-determined upon withdrawal of an amount that exceeds your guaranteed amount (as defined in Example 4).

§
Example 5a: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $130,000 and your GWB is $100,000:
¨
Your new GWB is $91,200, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $91,200].
¨
Your GAWA is recalculated to equal $4,800, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $4,800].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($91,200 / $4,800 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 5b: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $105,000 and your GWB is $100,000:
¨
Your new GWB is $90,250, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($105,000 - $5,000)) = $90,250].
¨
Your GAWA is recalculated to equal $4,750, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000)/($105,000 - $5,000)) = $4,750].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($90,250 / $4,750 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 5c: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $55,000 and your GWB is $100,000:
¨
Your new GWB is $85,500, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000) * (1 - ($10,000 - $5,000) / ($55,000 - $5,000)) = $85,500].
¨
Your GAWA is recalculated to equal $4,500, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000*(1-($10,000-$5,000)/($55,000 - $5,000))=$4,500].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($85,500 / $4,500 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
If your GAWA falls below your GWB, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 6: This example illustrates how GMWB values are re-determined upon step-up.

§
Example 6a: This example demonstrates what happens if at the time of step-up your Contract Value is $200,000, your GWB is $90,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $200,000, which is equal to your Contract Value.
¨
Your GAWA for the next year is recalculated to equal $10,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($200,000*0.05 = $10,000).
-
After step-up, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($200,000 / $10,000 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 6b: This example demonstrates what happens if at the time of step-up your Contract Value is $90,000, your GWB is $80,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $90,000, which is equal to your Contract Value.
¨
Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($90,000*0.05 = $4,500).
-
After step-up, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 18 years to deplete your GWB ($90,000 / $5,000 per year = 18 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
The Company may increase the GMWB charge upon step-up. You will have an opportunity to discontinue the automatic step-ups and avoid the potential increase in charge due to step-up. You should carefully consider this decision and consult your representative.
¨
Your GWB will only step-up to the Contract Value if the Contract Value is greater than your GWB at the time of the automatic step-up.
¨
Your GAWA is recalculated upon step-up (as described above) only if the step-up occurs after your GAWA% has been determined.

Example 7: This example demonstrates how the timing of a withdrawal request interacts with the timing of the step-up provision to impact re-determination of GMWB values.

§
Example 7a: This example demonstrates what happens if prior to any transactions your Contract Value is $200,000, your GAWA is $5,000, your GWB is $100,000 and you wish to step-up your GWB (or your GWB is due to step-up automatically) and you also wish to take a withdrawal of an amount equal to $5,000:
¨
If you request the withdrawal the day after the step-up, upon step-up, your GWB is set equal to $200,000, which is your Contract Value.  At that time, your GAWA is recalculated and is equal to $10,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($200,000*0.05 = $10,000).  On the day following the step-up and after the withdrawal of $5,000, your new GWB is $195,000, which is your GWB less the amount of the withdrawal ($200,000 - $5,000 = $195,000) and your GAWA will remain at $10,000 since the amount of the withdrawal does not exceed your GAWA.  If you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 20 years to deplete your GWB ($195,000 / $10,000 per year = approximately 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.
¨
If you request the withdrawal prior to the step-up, immediately following the withdrawal transaction, your new GWB is $95,000, which is your GWB less the amount of the withdrawal ($100,000 - $5,000 = $95,000) and your Contract Value becomes $195,000, which is your Contract Value prior to the withdrawal less the amount of the withdrawal ($200,000 - $5,000 = $195,000).  Upon step-up following the withdrawal, your GWB is set equal to $195,000, which is your Contract Value.  At that time, your GAWA is recalculated and is equal to $9,750, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($195,000*0.05 = $9,750).  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($195,000 / $9,750 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
As the example illustrates, when considering a request for a withdrawal at or near the same time as the election or automatic application of a step-up, the order of the transactions may impact your GAWA.
-
If the step-up would result in an increase in your GAWA and the requested withdrawal is less than or equal to your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.
-
If the step-up would result in an increase in your GAWA and the requested withdrawal is greater than your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.
- Otherwise, your GAWA resulting from the transactions is the same regardless of the order of transactions.
¨
This example would also apply in situations when the withdrawal exceeded your GAWA but not your permissible RMD.
¨
The Company may increase the GMWB charge upon step-up.
¨
Your GWB will only step-up to the Contract Value if the Contract Value  is greater than your GWB at the time of the automatic step-up.
¨
If your GAWA falls below your GWB at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

III.    JACKSON SELECT PROTECTOR (No longer offered as of April 29, 2013)

Unless otherwise specified, the following examples apply to and assume you elected Jackson Select Protector GMWB (referred to below as a GMWB) when you purchased your Contract, no other optional benefits other than any available Contract Enhancement that could be elected, your initial Premium payment net of any applicable Premium taxes, plus any Contract Enhancement was $100,000, your GAWA is greater than your RMD (if applicable) at the time a withdrawal is requested, all partial withdrawals requested include any applicable charges and no prior partial withdrawals have been made.  The examples assume that your age when the GAWA% is first determined corresponds to a GAWA% of 5% and any For Life Guarantee has not been terminated.  If your age at the time the GAWA% is first determined corresponds to a GAWA% other than 5%, the examples will still apply, given that you replace the 5% in each of the GAWA calculations with the appropriate GAWA%. References to the Select Protector Death Benefit refer to a death benefit provided by the Jackson Select Protector GMWB, but not to any separate death benefit endorsement.
Example 1: This example demonstrates how GMWB values are set at election.

§
Example 1a: If the GMWB is elected at issue:
¨
Your initial GWB is $100,000, which is your initial Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement.
¨
Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5000).

§
Example 1b: If the GMWB is added after issue (subject to availability) when the Contract Value is $105,000:
¨
Your initial GWB is $105,000, which is your Contract Value on the effective date of the endorsement.
¨
Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).

§
Notes:
¨
Your initial Benefit Determination Baseline (BDB) is set equal to your initial Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement, if the endorsement is elected at issue or your Contract Value if the endorsement is elected after issuance of the Contract, subject to availability.
¨
Your initial Select Protector Death Benefit is set equal to your initial GWB.

Example 2: This example demonstrates how your GAWA% is determined.  Your GAWA% is determined on the earlier of the time of your first withdrawal, the date that your Contract Value reduces to zero, the date that the GMWB is continued by a spousal Beneficiary who is not a Covered Life, or upon election of the Life Income of a GMWB Income Option.  Your GAWA% is set based upon your attained age at that time.  Your initial GAWA is determined based on this GAWA% and the GWB at that time.

§
If, at the time the GAWA% is determined, your GAWA% is 5% based on your attained age and your GWB is $100,000, your initial GAWA is $5,000, which is your GAWA% multiplied by your GWB at that time ($100,000 * 0.05 = $5,000).
§
Your GAWA% will be re-determined based on your attained age if your Contract Value at the time of a step-up is greater than the BDB.

Example 3: This example demonstrates how upon payment of a subsequent Premium, GMWB values may be re-determined.

§
Example 3a: This example demonstrates what happens if you make an additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement of $50,000 and your GWB is $100,000 at the time of payment:
¨
Your new GWB is $150,000, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement ($50,000).  Your GWB is subject to a maximum of $5,000,000 (see Example 3b).
¨
Your GAWA is $7,500, which is your GAWA prior to the additional Premium payment ($5,000) plus 5% of your additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement ($50,000*0.05 = $2,500).

§
Example 3b: This example demonstrates how GWB and GAWA are affected by the GWB $5,000,000 maximum, upon payment of a subsequent Premium.  If you make an additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement of $100,000 and your GWB is $4,950,000 and your GAWA is $247,500 at the time of payment:
¨
Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement ($100,000) exceeds the maximum of $5,000,000.
¨
Your GAWA is $250,000, which is your GAWA prior to the additional Premium payment ($247,500) plus 5% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.05 = $2,500).

§
Notes:
¨
Your GAWA is recalculated upon payment of an additional Premium (as described above) only if such payment occurs after your GAWA% has been determined.
¨
Your BDB is increased by the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement.  The BDB is not subject to a maximum of $5,000,000.
¨
Your Select Protector Death Benefit is increased by the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement, subject to a maximum of $5,000,000.

Example 4: This example demonstrates how GMWB values are re-determined upon withdrawal of the guaranteed amount (which is your GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA)).

§
Example 4a: This example demonstrates what happens if you withdraw an amount equal to your GAWA ($5,000) when your GWB is $100,000:
¨
Your new GWB is $95,000, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($5,000).
¨
Your GAWA for the next year remains $5,000, since you did not withdraw an amount that exceeds your GAWA.
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($95,000 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the death of any Owner or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 4b: This example demonstrates what happens if you withdraw an amount equal to your RMD ($7,500), which is greater than your GAWA ($5,000) when your GWB is $100,000 and the RMD provision is in effect for your endorsement:
¨
Your new GWB is $92,500, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($7,500).
¨
Your GAWA for the next year remains $5,000, since your withdrawal did not exceed the greater of your GAWA ($5,000) or your RMD ($7,500).
¨
If you continued to take annual withdrawals equal to your initial and unchanged RMD ($7,500),  it would take approximately an additional   12  years to deplete your GWB ($92,500 / $7,500 per year = approximately 12  years), provided that there are no further adjustments made to your GWB or your RMD (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your RMD could continue for the rest of your life (or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 12  years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your BDB remains unchanged since the BDB is not adjusted for partial withdrawals.
¨
Your Select Protector Death Benefit will be reduced by the amount of the withdrawal since the withdrawal did not exceed the greater of the GAWA or the RMD.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.

Example 5: This example demonstrates how GMWB values are re-determined upon withdrawal of an amount that exceeds your guaranteed amount (as defined in Example 4).

§
Example 5a: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $130,000 and your GWB is $100,000:
¨
Your new GWB is $91,200, which is your GWB, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $91,200].
¨
Your GAWA is recalculated to equal $4,800, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $4,800].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($91,200 / $4,800 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the any death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 5b: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $105,000 and your GWB is $100,000:
¨
Your new GWB is $90,250, which is your GWB, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($105,000 - $5,000)) = $90,250].
¨
Your GAWA is recalculated to equal $4,750, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000)/($105,000 - $5,000)) = $4,750].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($90,250 / $4,750 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 5c: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $55,000 and your GWB is $100,000:
  ¨
Your new GWB is $85,500, which is your GWB, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal [($100,000 - $5,000) * (1 - ($10,000 - $5,000) / ($55,000 - $5,000)) = $85,500].
¨
Your GAWA is recalculated to equal $4,500, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000*(1-($10,000-$5,000)/($55,000 - $5,000))=$4,500].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($85,500 / $4,500 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your BDB remains unchanged since the BDB is not adjusted for partial withdrawals.
¨
Your Select Protector Death Benefit will be reduced in the same manner that the GWB is reduced; it is first reduced dollar-for-dollar for the GAWA and then is reduced in the same proportion that the Contract Value is reduced for the amount of the withdrawal in excess of the GAWA.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
The Excess Withdrawal is defined to be the lesser of the total amount of the current partial withdrawal, or the amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 6: This example illustrates how GMWB values are re-determined upon automatic step-up.

§
Example 6a: This example demonstrates what happens if at the time of step-up your Contract Value  is $200,000, your GWB is $90,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $200,000, which is equal to your Contract Value.
¨
If the step-up occurs after the initial determination of your GAWA%, the GAWA% will be re-determined based on your attained age (or the youngest Covered Life's attained age if your endorsement is a For Life GMWB with Joint Option) if your Contract Value at the time of the step-up is greater than your BDB.
-
If, in the example above, your BDB is $100,000 and the GAWA% at the applicable attained age is 6%:
·
Your GAWA% is set to 6%, since your Contract Value ($200,000) is greater than your BDB ($100,000).
·
Your GAWA is equal to $12,000, which is your new GWB multiplied by your new GAWA% ($200,000 * 0.06 = $12,000).
·
Your BDB is recalculated to equal $200,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value at the time of step-up ($200,000).

§
Example 6b: This example demonstrates what happens if at the time of step-up your Contract Value is $90,000, your GWB is $80,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $90,000, which is equal to your Contract Value.
¨
If the step-up occurs after the initial determination of your GAWA%, the GAWA% will be re-determined based on your attained age (or the youngest Covered Life's attained age if your endorsement is a For Life GMWB with Joint Option) if your Contract Value is greater than your BDB.  However, in this case, it is assumed that your initial Premium, net of any applicable Premium taxes, plus any Contract Enhancement is $100,000.  Your BDB would not be less than $100,000, so this would not cause a re-determination of the GAWA%.  Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($90,000*0.05 = $4,500).  In addition, if your BDB is $100,000 prior to the step-up, your BDB remains $100,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value at the time of step-up ($90,000).

§
Notes:
¨
Your endorsement contains a provision allowing the Company to increase the GMWB charge upon step-up. You will have an opportunity to discontinue the automatic step-ups and avoid the potential increase in charge due to step-up. You should carefully consider this decision and consult your representative.
¨
Your GAWA is recalculated upon step-up (as described above) only if the step-up occurs after your GAWA% has been determined.
¨
Your Select Protector Death Benefit remains unchanged since step-ups do not impact the Select Protector Death Benefit.

Example 7: This example demonstrates how the timing of a withdrawal request interacts with the timing of the step-up provision to impact re-determination of GMWB values.

§
Example 7a: This example demonstrates what happens if prior to any transactions your Contract Value is $200,000, your GAWA is $5,000, your GWB is $100,000, your GWB is due to step-up automatically, and you also wish to take a withdrawal of an amount equal to $5,000:
¨
If you request the withdrawal the day after the step-up, upon step-up, your GWB is set equal to $200,000, which is your Contract Value.  At that time, your GAWA is equal to $10,000, which is 5% of your new GWB ($200,000*0.05 = $10,000).  On the day following the step-up and after the withdrawal of $5,000, your new GWB is $195,000, which is your GWB less the amount of the withdrawal ($200,000 - $5,000 = $195,000) and your GAWA will remain at $10,000 since the amount of the withdrawal does not exceed your GAWA.  If you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 20 years to deplete your GWB ($195,000 / $10,000 per year = approximately 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.
-
If your BDB is $100,000 just prior to the step-up, then at the time of step-up, your BDB is recalculated and is equal to $200,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value at the time of step-up ($200,000).  Your BDB is not adjusted upon withdrawal since the BDB is not reduced for partial withdrawals.
¨
 If you request the withdrawal prior to the step-up, immediately following the withdrawal transaction, your new GWB is $95,000, which is your GWB less the amount of the withdrawal ($100,000 - $5,000 = $95,000) and your Contract Value becomes $195,000, which is your Contract Value prior to the withdrawal less the amount of the withdrawal ($200,000 - $5,000 = $195,000).  Upon step-up following the withdrawal, your GWB is set equal to $195,000, which is your Contract Value.  At that time, your GAWA is recalculated and is equal to $9,750, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($195,000*0.05 = $9,750).  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($195,000 / $9,750 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.
-
If your BDB is $100,000 just prior to the withdrawal, then at the time of the withdrawal, your BDB is not adjusted since the BDB is not reduced for partial withdrawals.  At the time of step-up, your BDB is recalculated and is equal to $195,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value at the time of step-up ($195,000).

§
Notes:
¨
As the example illustrates, when considering a request for a withdrawal at or near the same time as application of a step-up, the order of the two transactions may impact your GAWA.
-
If the step-up would result in an increase in your GAWA and the requested withdrawal is less than or equal to your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied. If the step-up would result in an increase in your GAWA, and the withdrawal requested is greater than your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.
- Otherwise, your GAWA resulting from the transactions is the same regardless of the order of transactions.
¨
This example would also apply in situations when the withdrawal exceeded your GAWA but not your permissible RMD.
 
¨
 The GAWA% is determined at the time of the withdrawal (if not previously determined).
- The GAWA% is re-determined upon step-up if your Contract Value is greater than your BDB.
¨
Your Select Protector Death Benefit would not be adjusted for the step-up since step-ups do not impact the Select Protector Death Benefit, but your Select Protector Death Benefit may be reduced for the withdrawal.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where a minimum death benefit is reduced proportionately for withdrawals, the death benefit may be reduced by more than the amount of the withdrawal.

Example 8: This example illustrates how the For Life Guarantee is affected upon death of the Owner on a For Life GMWB with Joint Option.

§
This example demonstrates what happens if at the time of the death of the Owner (or either Joint Owner) the Contract Value is $105,000 and your GWB is $100,000:
¨
If your endorsement has a For Life Guarantee that becomes effective after the effective date of the endorsement, the surviving Covered Life may continue the Contract and the For Life Guarantee will remain in effect or begin on the date the For Life Guarantee becomes effective. The GAWA% and the GAWA will continue to be determined or re-determined based on the youngest Covered Life's attained age (or the age he or she would have attained).  Once the For Life Guarantee becomes effective, the surviving Covered Life will be able to take annual withdrawals equal to the GAWA for the rest of his or her life, provided that the withdrawals are taken prior to the Latest Income Date.
¨
If your endorsement has a For Life Guarantee that becomes effective on the effective date of the endorsement, the surviving Covered Life may continue the Contract and the For Life Guarantee will remain in effect.  The GAWA% and the GAWA will continue to be determined or re-determined based on the youngest Covered Life's attained age (or the age he or she would have attained).  The surviving Covered Life will be able to take annual withdrawals equal to the GAWA for the rest of his or her life, provided that the withdrawals are taken prior to the Latest Income Date.
¨
The surviving spouse who is not a Covered Life may continue the Contract and the For Life Guarantee is null and void.  However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted, provided that the withdrawals are taken prior to the Latest Income Date.
¨
Your GWB remains $100,000 and your GAWA remains unchanged at the time of continuation.

Example 9: This example demonstrates how funds are transferred to or from the GMWB Fixed Account, on each Contract Monthly Anniversary, via the formulas defined in the Transfer of Assets Methodology in Appendix E.  The annuity factors referenced in this example are also found in Appendix E.  (This example only applies if your endorsement contains a Transfer of Assets provision.)

§
Example 9a: This example demonstrates what happens if on your first Contract Monthly Anniversary, your annuity factor is 15.26, your GAWA is $6,000, your GMWB Fixed Account Contract Value is $0, your Separate Account Contract Value is $95,000, and your Fixed Account Contract Value is $5,000:
¨
Your liability is equal to $91,560, which is your GAWA multiplied by your annuity factor ($6,000 * 15.26 = $91,560).
¨
The ratio is equal to 91.56%, which is the liability (net of the GMWB Fixed Account Contract Value) divided by the sum of the Separate Account Contract Value and the Fixed Account Contract Value [($91,560 - $0) / ($95,000 + $5,000) = 91.56%].
¨
Since the ratio (91.56%) is greater than 83%, funds are transferred from the Investment Divisions and the Fixed Account Options to the GMWB Fixed Account.  The amount of the transfer is equal to $57,800, which is the lesser of 1) the Separate Account Contract Value plus the Fixed Account Contract Value ($95,000 + $5,000 = $100,000) or 2) the liability (net of the GMWB Fixed Account Contract Value) less 80% of the sum of the Separate Account Contract Value and the Fixed Account Contract Value, divided by the difference between one and 80% [($91,560 - $0 - 0.80*($95,000 + $5,000)) / (1 - 0.80) = $57,800].
¨
Your GMWB Fixed Account Contract Value is $57,800, which is your previous GMWB Fixed Account Contract Value plus the amount of the transfer ($0 + $57,800 = $57,800).
¨
Your Separate Account Contract Value is $40,090, which is your previous Separate Account Contract Value less the amount of the transfer multiplied by the ratio of the Separate Account Contract Value to the sum of the Separate Account Contract Value and the Fixed Account Contract Value [$95,000 - $57,800 * ($95,000 / ($95,000 + $5,000)) = $40,090].
¨
Your Fixed Account Contract Value is $2,110, which is your previous Fixed Account Contract Value less the amount of the transfer multiplied by the ratio of the Fixed Account Contract Value to the sum of the Separate Account Contract Value and the Fixed Account Contract Value [$5,000 - $57,800 * ($5,000 / ($95,000 + $5,000)) = $2,110].

§
Example 9b: This example demonstrates what happens if on your 13th Contract Monthly Anniversary, your annuity factor is 14.83, your GAWA is $6,000, your GMWB Fixed Account Contract Value is $15,000, your Separate Account Contract Value is $90,000, your Fixed Account Contract Value is $10,000, your current allocation percentage to the Investment Divisions is 95%, and your current allocation percentage to the Fixed Account Options is 5%:
¨
Your liability is equal to $88,980, which is your GAWA multiplied by your annuity factor ($6,000 * 14.83 = $88,980).
¨
The ratio is equal to 73.98%, which is the liability (net of the GMWB Fixed Account Contract Value) divided by the sum of the Separate Account Contract Value and the Fixed Account Contract Value [($88,980 - $15,000) / ($90,000 + $10,000) = 73.98%].
¨
Since the ratio (73.98%) is less than 77%, funds are transferred from the GMWB Fixed Account to the Investment Divisions and the Fixed Account Options.  The amount of the transfer is equal to $15,000, which is the lesser of 1) the GMWB Fixed Account Contract Value ($15,000) or 2) the GMWB Fixed Account Contract Value less the liability plus 80% of the sum of the Separate Account Contract Value and the Fixed Account Contract Value, divided by the difference between one and 80% [($15,000 - $88,980 + 0.80 * ($90,000 + $10,000)) / (1 - 0.80) = $30,100].
¨
Your GMWB Fixed Account Contract Value is $0, which is your previous GMWB Fixed Account Contract Value less the amount of the transfer ($15,000 - $15,000 = $0).
¨
Your Separate Account Contract Value is $104,250, which is your previous Separate Account Contract Value plus the amount of the transfer multiplied by your current allocation percentage to the Investment Divisions ($90,000 + $15,000 * 0.95 = $104,250).
¨
Your Fixed Account Contract Value is $10,750, which is your previous Fixed Account Contract Value plus the amount of the transfer multiplied by your current allocation percentage to the Fixed Account Options ($10,000 + $15,000 * 0.05 = $10,750).

§
Example 9c: This example demonstrates what happens if on your 25th Contract Monthly Anniversary, your annuity factor is 14.39, your GAWA is $6,000, your GMWB Fixed Account Contract Value is $100,000, your Separate Account Contract Value is $0, your Fixed Account Contract Value is $0, your current allocation percentage to the Investment Divisions is 95%, and your current allocation percentage to the Fixed Account Options is 5%:
¨
Your liability is equal to $86,340, which is your GAWA multiplied by your annuity factor ($6,000 * 14.39 = $86,340).
¨
The ratio is not calculated since the sum of the Separate Account Contract Value and the Fixed Account Contract Value is equal to zero.
¨
Since all funds are allocated to the GMWB Fixed Account and the GMWB Fixed Account Contract Value ($100,000) is greater than the liability ($86,340), funds are transferred from the GMWB Fixed Account to the Investment Divisions and the Fixed Account Options.  The amount of the transfer is equal to $68,300, which is the lesser of 1) the GMWB Fixed Account Contract Value ($100,000) or 2) the GMWB Fixed Account Contract Value less the liability plus 80% of the sum of the Separate Account Contract Value and the Fixed Account Contract Value, divided by the difference between one and 80% [($100,000 - $86,340 + 0.80 * ($0 + $0)) / (1 - 0.80) = $68,300].
¨
Your GMWB Fixed Account Contract Value is $31,700, which is your previous GMWB Fixed Account Contract Value less the amount of the transfer ($100,000 - $68,300 = $31,700).
¨
Your Separate Account Contract Value is $64,885, which is your previous Separate Account Contract Value plus the amount of the transfer multiplied by your current allocation percentage to the Investment Divisions ($0 + $68,300 * 0.95 = $64,885).
¨
Your Fixed Account Contract Value is $3,415, which is your previous Fixed Account Contract Value plus the amount of the transfer multiplied by your current allocation percentage to the Fixed Account Options ($0 + $68,300 * 0.05 = $3,415).

§
Notes:
¨
If your GAWA had not yet been determined prior to the transfer of assets calculation, the GAWA used in the liability calculation will be based on the GAWA% for your attained age (or the attained age of the youngest Covered Life if your endorsement is a For Life GMWB with Joint Option) at the time of the calculation multiplied by your GWB at that time.
¨
The amount transferred from each Investment Division and Fixed Account Option to the GMWB Fixed Account will be in proportion to their current value.  The amount transferred to each Investment Division and Fixed Account Option will be based on your most current Premium allocation instructions.
¨
No adjustments are made to the GWB, the GAWA or the Select Protector Death Benefit as a result of the transfer.

IV.    LIFEGUARD FREEDOM 6 NET

Unless otherwise specified, the following examples apply to and assume you elected LifeGuard Freedom 6 Net GMWB (referred to below as a GMWB) when you purchased your Contract, no other optional benefits were elected, your initial Premium payment was $100,000, your GAWA is greater than your RMD (if applicable) at the time a withdrawal is requested, all partial withdrawals requested include any applicable charges and no prior partial withdrawals have been made. The examples assume that your age when the GAWA% is first determined corresponds to a GAWA% of 5%, the GMWB elected has a bonus percentage of 6%, the Contract Enhancement is 5%, and the GMWB and any For Life Guarantee have not been terminated.  If your age at the time the GAWA% is first determined corresponds to a GAWA% other than 5%, the examples will still apply, given that you replace the 5% in each of the GAWA calculations with the appropriate GAWA%.

Example 1: This example demonstrates how GMWB values are set at election. This example applies ONLY if your endorsement was issued on or after 04/29/2013.

§
Example 1a: If the GMWB is elected at issue:
¨
Your initial GWB is $100,000, which is your initial Premium payment.
¨
Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5,000).

§
Example 1b: If the GMWB is elected after issue (subject to availability) when the Contract Value is $105,000 and your Contract includes a Contract Enhancement with a total Recapture Charge of $5,000 at the time the GMWB is elected:
¨
Your initial GWB is $100,000, which is your Contract Value ($105,000) less the Recapture Charge ($5,000) on the effective date of the endorsement.
¨
Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5,000).

§
Example 1c: If the GMWB is elected after issue (subject to availability) or you convert to another GMWB, if permitted, when the Contract Value is $110,000 and your Contract includes a Contract Enhancement with a total Recapture Charge of $5,000 at the time the GMWB is elected or converted:
¨
Your initial GWB in your new GMWB is $105,000, which is your Contract Value ($110,000) less the Recapture Charge ($5,000) on the effective date of the endorsement.  If you converted your GMWB when the GWB for your former GMWB was $120,000 and the Contract Value less the Recapture Charge declined to $105,000 prior to the conversion date, the conversion to the new GMWB would result in a $15,000 reduction in the GWB.
¨
Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).

§
Notes:
¨
Your initial Benefit Determination Baseline (BDB) is set equal to your initial Premium payment if the endorsement is elected at issue or your Contract Value less any applicable Recapture Charge if the endorsement is elected after issuance of the Contract (subject to availability).
¨
Your initial Bonus Base is set equal to your GWB at the time of election.
¨
Your initial GWB Adjustment is set equal to 200% times your initial GWB.
¨
Your initial GMWB Earnings Determination Baseline is set equal to your initial Premium payment if the endorsement is elected at issue or your Contract Value less any applicable Recapture Charge if the endorsement is elected after issuance of the Contract (subject to availability).

Example 2: This example demonstrates how GMWB values are set at election.  This example applies ONLY if your endorsement was issued before 04/29/2013.
§
Example 2a: If the GMWB is elected at issue:
¨
Your initial GWB is $105,000, which is your initial Premium payment ($100,000) plus any Contract Enhancement ($100,000*0.05=$5,000).
¨
Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).

§
Example 2b: If the GMWB is elected after issue (subject to availability) when the Contract Value is $105,000:
¨
Your initial GWB is $105,000, which is your Contract Value on the effective date of the endorsement.
¨
Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).

§
Example 2c: If the GMWB is elected after issue (subject to availability) or you convert to another GMWB, if permitted, when the Contract Value is $110,000 the time the GMWB is elected or converted:
¨
Your initial GWB in your new GMWB is $110,000, which is your Contract Value ($110,000) on the effective date of the endorsement.
¨
Your GAWA is $5,500, which is 5% of your initial GWB ($110,000*0.05 = $5,500).

§
Notes:
¨
Your initial Benefit Determination Baseline (BDB) is set equal to your initial Premium payment plus any Contract Enhancement, if the endorsement is elected at issue or your Contract Value if the endorsement is elected after issuance of the Contract (subject to availability).
¨
Your initial Bonus Base is set equal to your GWB at the time of election.
¨
Your initial GWB Adjustment is set equal to 200% times your initial GWB.
¨
Your initial GMWB Earnings Determination Baseline is set equal to your initial Premium payment.
 
Example 3: This example demonstrates how your GAWA% is determined. Your GAWA% is determined on the earlier of the time of your first withdrawal, the date that your Contract Value reduces to zero, the date that the GMWB is continued by a spousal Beneficiary who is not a Covered Life, or upon election of the Life Income of a GMWB Income Option.  Your GAWA% is set based upon your attained age at that time.  Your initial GAWA is determined based on this GAWA% and the GWB at that time.

§
If, at the time the GAWA% is determined, your GAWA% is 5% based on your attained age and your GWB is $100,000, your initial GAWA is $5,000, which is your GAWA% multiplied by your GWB at that time ($100,000 * 0.05 = $5,000).

§
Notes:
¨
Your GAWA% will be re-determined based on your attained age if your Contract Value at the time of a step-up is greater than the BDB.

Example 4: This example demonstrates how upon payment of a subsequent Premium, GMWB values may be re-determined. This example applies ONLY if your endorsement was issued on or after 04/29/2013.

§
Example 4a: This example demonstrates what happens if you make an additional Premium payment of $50,000, and your GWB is $100,000 at the time of payment:
¨
Your new GWB is $150,000, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment ($50,000).  Your GWB is subject to a maximum of $5,000,000 (see Example 4b).
¨
Your GAWA is $7,500, which is your GAWA prior to the additional Premium payment ($5,000) plus 5% of your additional Premium payment ($50,000*0.05 = $2,500).

§
Example 4b: This example demonstrates how GWB and GAWA are affected by the GWB $5,000,000 maximum, upon payment of a subsequent Premium.  If you make an additional Premium payment of $100,000 and your GWB is $4,950,000 and your GAWA is $247,500 at the time of payment:
¨
Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment ($100,000) exceeds the maximum of $5,000,000.
¨
Your GAWA is $250,000, which is your GAWA prior to the additional Premium payment ($247,500) plus 5% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.05 = $2,500).

§
Notes:
¨
Your GAWA is recalculated upon payment of an additional Premium (as described above) only if such payment occurs after your GAWA % has been determined.
¨
Your BDB is increased by the Premium payment. The BDB is not subject to a maximum of $5,000,000.
¨
Your Bonus Base is increased by the Premium payment, subject to a maximum of $5,000,000.
¨
If the Premium payment occurs prior to the first Contract Anniversary following the effective date of the endorsement, your GWB Adjustment is increased by the Premium payment times 200%, subject to a maximum of $5,000,000.  For example, if you make an additional Premium payment of $50,000 prior to your first Contract Anniversary following the effective date of the endorsement, and your GWB Adjustment value before the additional Premium payment is $200,000, then the GWB Adjustment is increased by 200% of the additional Premium payment.  The resulting GWB Adjustment is $200,000 + $100,000 = $300,000.
¨
If the Premium payment occurs on or after the first Contract Anniversary following the effective date of the endorsement, your GWB Adjustment is increased by the Premium payment, subject to a maximum of $5,000,000.  For example, if you make an additional Premium payment of $50,000 after your first Contract Anniversary following the effective date of the endorsement, and your GWB Adjustment value before the additional Premium payment is $200,000, then the GWB Adjustment is increased by 100% of the additional Premium payment.  The resulting GWB Adjustment is $200,000 + $50,000 = $250,000.
¨
Your GMWB Earnings Determination Baseline is increased by the Premium payment. The GMWB Earnings Determination Baseline is not subject to a maximum of $5,000,000.

Example 5: This example demonstrates how upon payment of a subsequent Premium, GMWB values may be re-determined. This example applies ONLY if your endorsement was issued before 04/29/2013.

§
Example 5a: This example demonstrates what happens if you make an additional Premium payment of $50,000, your GWB is $100,000 at the time of payment, and your Contract includes a Contract Enhancement provision which provides $2,500 to your Contract at the time of the Premium payment:
¨
Your new GWB is $152,500, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment ($50,000) plus your Contract Enhancement ($2,500). Your GWB is subject to a maximum of $5,000,000 (see Example 3b).
¨
Your GAWA is $7,625, which is your GAWA prior to the additional Premium payment ($5,000) plus 5% of your additional Premium payment plus any Contract Enhancement (($50,000+$2,500)*0.05 = $2,625).

§
Example 5b: This example demonstrates how GWB and GAWA are affected by the GWB $5,000,000 maximum, upon payment of a subsequent Premium.  If you make an additional Premium payment, plus any Contract Enhancement, of $100,000 and your GWB is $4,950,000 and your GAWA is $247,500 at the time of payment:
¨
Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment, plus any Contract Enhancement ($100,000) exceeds the maximum of $5,000,000.
¨
Your GAWA is $250,000, which is your GAWA prior to the additional Premium payment ($247,500) plus 5% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.05 = $2,500).

§
Notes:
¨
Your GAWA is recalculated upon payment of an additional Premium (as described above) only if such payment occurs after your GAWA% has been determined.
¨
Your BDB is increased by the Premium payment, plus any Contract Enhancement.  The BDB is not subject to a maximum of $5,000,000.
¨
Your Bonus Base is increased by the Premium payment, plus any Contract Enhancement, subject to a maximum of $5,000,000.
¨
If the Premium payment occurs prior to the first Contract Anniversary following the effective date of the endorsement, your GWB Adjustment is increased by the Premium payment, plus any Contract Enhancement times 200%, subject to a maximum of $5,000,000.  For example, if you make an additional Premium payment, plus any Contract Enhancement of $52,500 prior to your first Contract Anniversary following the effective date of the endorsement, and your GWB Adjustment value before the additional Premium payment is $200,000, then the GWB Adjustment is increased by 200% of the additional Premium payment, plus any Contract Enhancement.  The resulting GWB Adjustment is $200,000 + $105,000 = $305,000.
¨
If the Premium payment occurs on or after the first Contract Anniversary following the effective date of the endorsement, your GWB Adjustment is increased by the Premium payment, plus any Contract Enhancement, subject to a maximum of $5,000,000.  For example, if you make an additional Premium payment, plus any Contract Enhancement of $52,500 after your first Contract Anniversary following the effective date of the endorsement, and your GWB Adjustment value before the additional Premium payment is $200,000, then the GWB Adjustment is increased by 100% of the additional Premium payment, plus any Contract Enhancement.  The resulting GWB Adjustment is $200,000 + $52,500 = $252,500.
¨
Your GMWB Earnings Determination Baseline is increased by the Premium payment but does not include the Contract Enhancement. The GMWB Earnings Determination Baseline is not subject to a maximum of $5,000,000.

Example 6: This example demonstrates how GMWB values are re-determined upon withdrawal of the guaranteed amount. (which is the greater of your GAWA or your RMD).

§
Example 6a: This example demonstrates what happens if you withdraw an amount equal to your GAWA ($5,000) when your GWB is $100,000:
¨
Your new GWB is $95,000, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($5,000).
¨
Your GAWA for the next year remains $5,000, since you did not withdraw an amount that exceeds your GAWA.
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($95,000 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 6b: This example demonstrates what happens if you withdraw an amount equal to your RMD ($7,500), which is greater than your GAWA ($5,000) when your GWB is $100,000 and the RMD provision is in effect for your endorsement:
¨
Your new GWB is $92,500, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($7,500).
¨
Your GAWA for the next year remains $5,000, since your withdrawal did not exceed the greater of your GAWA ($5,000) or your RMD ($7,500).
¨
If you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 19 years to deplete your GWB ($92,500 / $5,000 per year = approximately 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your BDB remains unchanged since the BDB is not adjusted for partial withdrawals.
¨
Your Bonus Base remains unchanged since the withdrawal did not exceed the guaranteed amount; however, no bonus will be applied to your GWB at the end of the Contract Year in which the withdrawal is taken.
¨
Your Guaranteed Withdrawal Balance Adjustment provision is terminated since a withdrawal is taken.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.
 ¨
This endorsement includes an Earnings-Sensitive Adjustment provision:
-
The GMWB Earnings Determination Baseline will be reduced by the amount of the withdrawal in excess of GMWB Earnings. The GMWB Earnings Determination Baseline cannot be reduced below zero, however.  See Example 14.
-
An Earnings-Sensitive Adjustment will apply to your withdrawal, which will allow you to withdraw additional amounts from your Contract during that Contract Year without causing a proportional reduction of your GMWB.  See Examples 14a and 14b.

Example 7: This example demonstrates how GMWB values are re-determined upon withdrawal of an amount that exceeds your guaranteed amount (as defined in Example 6).

§
Example 7a: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $130,000 and your GWB is $100,000:
¨
Your new GWB is $91,200, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $91,200].
¨
 Your GAWA is recalculated to equal $4,800, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $4,800].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($91,200 / $4,800 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 7b: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $105,000 and your GWB is $100,000:
¨
 Your new GWB is $90,250, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($105,000 - $5,000)) = $90,250].
¨
 Your GAWA is recalculated to equal $4,750, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000)/($105,000 - $5,000)) = $4,750].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($90,250 / $4,750 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 7c: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $55,000 and your GWB is $100,000:
¨
Your new GWB is $85,500, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000) * (1 - ($10,000 - $5,000) / ($55,000 - $5,000)) = $85,500].
¨
 Your GAWA is recalculated to equal $4,500, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000*(1-($10,000-$5,000)/($55,000 - $5,000))=$4,500].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($85,500 / $4,500 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your BDB remains unchanged since the BDB is not adjusted for partial withdrawals.
¨
Your Bonus Base is recalculated to equal the lesser of 1) your Bonus Base prior to the withdrawal or 2) your GWB following the withdrawal.  In addition, no bonus will be applied to your GWB at the end of the Contract Year in which the withdrawal is taken.
¨
Your Guaranteed Withdrawal Balance Adjustment provision is terminated since a withdrawal is taken.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.
 ¨
This endorsement includes an Earnings-Sensitive Adjustment provision:
-
The GMWB Earnings Determination Baseline will be reduced by the amount of the withdrawal in excess of GMWB Earnings. The GMWB Earnings Determination Baseline cannot be reduced below zero, however.  See Example 14.
-
Your GWB will be reduced dollar-for-dollar for up to the sum of the Earnings-Sensitive Adjustments during that Contract Year and the GAWA, and your GWB and GAWA will be reduced proportionally only for the portion of the withdrawal in excess of that amount.  See Example 14c.

Example 8: This example illustrates how GMWB values are re-determined upon step-up.

§
Example 8a: This example demonstrates what happens if at the time of step-up your Contract Value is $200,000, your GWB is $90,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $200,000, which is equal to your Contract Value.
¨
If the step-up occurs after the initial determination of your GAWA%, the GAWA% will be re-determined based on your attained age (or the youngest Covered Life's attained age if your endorsement is a For Life GMWB with Joint Option) if your Contract Value at the time of the step-up is greater than your BDB.
-
If, in the example above, your BDB is $100,000 and the GAWA% at the applicable attained age is 6%:
·
Your GAWA% is set to 6%, since your Contract Value ($200,000) is greater than your BDB ($100,000).
·
Your GAWA is equal to $12,000, which is your new GWB multiplied by your new GAWA% ($200,000 * 0.06 = $12,000).
·
Your BDB is recalculated to equal $200,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value at the time of step-up ($200,000).
¨
If your Bonus Base is $100,000 just prior to the step-up, your Bonus Base is recalculated to equal $200,000, which is the greater of 1) your Bonus Base prior to the step-up ($100,000) or 2) your GWB following the step-up ($200,000).
- If you have not passed your Contract Anniversary immediately following your 80th birthday (or the youngest Covered Life's 80th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your Bonus Base has been increased due to the step-up.

§
Example 8b: This example demonstrates what happens if at the time of step-up your Contract Value is $90,000, your GWB is $80,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $90,000, which is equal to your Contract Value.
¨
Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($90,000*0.05 = $4,500).
-
After step-up, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 18 years to deplete your GWB ($90,000 / $5,000 per year = 18 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 18 years, provided that the withdrawals are taken prior to the Latest Income Date.
¨
If the step-up occurs after the initial determination of your GAWA%, the GAWA% will be re-determined based on your attained age (or the youngest Covered Life's attained age if your endorsement is a For Life GMWB with Joint Option) if your Contract Value  is greater than your BDB.  However, in this case, it is assumed that your BDB is $100,000.  See examples 1, 2, 4, and 5 for a description of how the BDB is determined.  Your BDB remains $100,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value at the time of step-up ($90,000).  Because the BDB did not increase upon step-up, this is not an opportunity for a redetermination of the GAWA%.  Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($90,000*0.05 = $4,500
¨
If your Bonus Base is $100,000 just prior to the step-up, your Bonus Base remains $100,000, which is the greater of 1) your Bonus Base prior to the step-up ($100,000) or 2) your GWB following the step-up ($90,000).
- Even though this endorsement allows for the Bonus Period to re-start, your Bonus Period will not re-start since your Bonus Base has not been increased due to the step-up.

§
Notes:
¨
The Company may increase the GMWB charge upon step-up. You will have an opportunity to discontinue the automatic step-ups and avoid the potential increase in charge due to step-up. You should carefully consider this decision and consult your representative.
¨
Your GWB will only step-up to the Contract Value if the Contract Value is greater than your GWB at the time of the automatic step-up.
¨
Your Bonus Base will be re-determined only if your GWB is increased upon step-up to a value above your Bonus Base just prior to the step-up.
¨
Your GAWA is recalculated upon step-up (as described above) only if the step-up occurs after your GAWA% has been determined.
¨
Your GWB Adjustment remains unchanged since step-ups do not impact the GWB Adjustment.
¨
Your GMWB Earnings Determination Baseline remains unchanged since step-ups do not impact the GMWB Earnings Determination Baseline.

Example 9: This example demonstrates how the timing of a withdrawal request interacts with the timing of the step-up provision to impact re-determination of GMWB values.

§
Example 9a: This example demonstrates what happens if prior to any transactions your Contract Value is $200,000, your GAWA is $5,000, your GAWA% is not eligible for re-determination upon step-up your GWB is $100,000 and you wish to step-up your GWB (or your GWB is due to step-up automatically) and you also wish to take a withdrawal of an amount equal to $5,000:
¨
If you request the withdrawal the day after the step-up, upon step-up, your GWB is set equal to $200,000, which is your Contract Value.  At that time, your GAWA is recalculated and is equal to $10,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($200,000*0.05 = $10,000).  On the day following the step-up and after the withdrawal of $5,000, your new GWB is $195,000, which is your GWB less the amount of the withdrawal ($200,000 - $5,000 = $195,000) and your GAWA will remain at $10,000 since the amount of the withdrawal does not exceed your GAWA.  If you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 20 years to deplete your GWB ($195,000 / $10,000 per year = approximately 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.
-
If your Bonus Base is $100,000 just prior to the step-up, at the time of step-up, your Bonus Base is recalculated and is equal to $200,000, which is the greater of 1) your Bonus Base prior to the step-up ($100,000) or 2) your GWB following the step-up ($200,000).  Your Bonus Base is not adjusted upon withdrawal since the amount of the withdrawal does not exceed your GAWA.
-
If you have not passed the Contract Anniversary immediately following your 80th birthday (or the youngest Covered Life's 80th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your Bonus Base has been increased due to the step-up.
-
If your BDB is $100,000 just prior to the step-up, then at the time of step-up, your BDB is recalculated and is equal to $200,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value at the time of step-up ($200,000).  Your BDB is not adjusted upon withdrawal since the BDB is not reduced for partial withdrawals.
¨
If you request the withdrawal prior to the step-up, immediately following the withdrawal transaction, your new GWB is $95,000, which is your GWB less the amount of the withdrawal ($100,000 - $5,000 = $95,000) and your Contract Value becomes $195,000, which is your Contract Value prior to the withdrawal less the amount of the withdrawal ($200,000 - $5,000 = $195,000).  Upon step-up following the withdrawal, your GWB is set equal to $195,000, which is your Contract Value.  At that time, your GAWA is recalculated and is equal to $9,750, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($195,000*0.05 = $9,750).  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($195,000 / $9,750 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.
-
If your Bonus Base is $100,000 just prior to the withdrawal, then at the time of the withdrawal, your Bonus Base is not adjusted since the amount of the withdrawal does not exceed your GAWA.  At the time of step-up, your Bonus Base is recalculated and is equal to $195,000, which is the greater of 1) your Bonus Base prior to the step-up ($100,000) or 2) your GWB following the step-up ($195,000).
-
If you have not passed the Contract Anniversary immediately following your 80th birthday (or the youngest Covered Life's 80th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your Bonus Base has been increased due to the step-up.
-
If your BDB is $100,000 just prior to the withdrawal, then at the time of the withdrawal, your BDB is not adjusted since the BDB is not reduced for partial withdrawals.  At the time of step-up, your BDB is recalculated and is equal to $195,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value at the time of step-up ($195,000).

§
Notes:
¨
As the example illustrates, when considering a request for a withdrawal at or near the same time as the election or automatic application of a step-up, the order of the transactions may impact your GAWA.
-
If the step-up would result in an increase in your GAWA and the requested withdrawal is less than or equal to your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.  This is especially true if your endorsement allows for re-determination of the GAWA% and the step-up would result in a re-determination of the GAWA%.
-
If the step-up would result in an increase in your GAWA, and the withdrawal requested is greater than your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.
- Otherwise, your GAWA resulting from the transactions is the same regardless of the order of transactions.
¨
This example would also apply in situations when the withdrawal exceeded your GAWA but not your permissible RMD.
¨
The Company may increase the GMWB charge upon step-up.
¨
 Your GWB will only step-up to the Contract Value if the Contract Value is greater than your GWB at the time of the automatic step-up.
¨
Your Bonus Base will be re-determined only if your GWB is increased upon step-up to a value above your Bonus Base just prior to the step-up.
¨
Your GAWA% is determined at the time of the withdrawal (if not previously determined).
- Your GAWA% is re-determined upon step-up if your Contract Value is greater than your BDB.
¨
Your Guaranteed Withdrawal Balance Adjustment provision is terminated at the time of the withdrawal.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.
¨
Your GMWB Earnings Determination Baseline would not be adjusted for the step-up since step-ups do not impact the GMWB Earnings Determination Baseline, but your GMWB Earnings Determination Baseline may be reduced for the withdrawal.  See example 14 to see how the GMWB Earnings Determination Baseline is re-determined on a withdrawal.

Example 10: This example illustrates how GMWB values are re-determined upon application of the Guaranteed Withdrawal Balance Bonus.

§
Example 10a: This example demonstrates what happens if at the end of a Contract Year in which you have taken no withdrawals, your GWB is $100,000, your Bonus Base is $100,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $106,000, which is equal to your GWB plus 6% of your Bonus Base ($100,000 + $100,000*0.06 = $106,000).
¨
Your GAWA for the next year is recalculated to equal $5,300, which is the greater of 1) your GAWA prior to the application of the bonus ($5,000) or 2) 5% of your new GWB ($106,000*0.05 = $5,300).
¨
After the application of the bonus, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($106,000 / $5,300 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 10b: This example demonstrates what happens if at the end of a Contract Year in which you have taken no withdrawals, your GWB is $90,000, your Bonus Base is $100,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $96,000, which is equal to your GWB plus 6% of your Bonus Base ($90,000 + $100,000*0.06 = $96,000).
¨
Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the application of the bonus ($5,000) or 2) 5% of your new GWB ($96,000*0.05 = $4,800).
¨
After the application of the bonus, if you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 20 years to deplete your GWB ($96,000 / $5,000 per year = approximately 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your Bonus Base is not recalculated upon the application of the bonus to your GWB.
¨
Your GAWA is recalculated upon the application of the bonus (as described above) only if the application of the bonus occurs after your GAWA% has been determined.
¨
Your BDB remains unchanged since the BDB is not impacted by the application of the bonus.
¨
Your GWB Adjustment remains unchanged since the GWB Adjustment is not impacted by the application of the bonus.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Your GMWB Earnings Determination Baseline remains unchanged since the GMWB Earnings Determination Baseline is not impacted by the application of the bonus.

Example 11: This example illustrates how the GAWA is re-determined when the For Life Guarantee becomes effective after the effective date of the endorsement.  At the time the For Life Guarantee becomes effective, your GAWA is re-determined.

§
Example 11a: This example demonstrates what happens if on the reset date your Contract Value is $30,000, your GWB is $50,000, and your GAWA is $5,000:
¨
Your GAWA for the next year is recalculated to equal $2,500, which is equal to 5% of the current GWB ($50,000*0.05 = $2,500).
¨
The For Life Guarantee becomes effective, thus allowing you to make annual withdrawals equal to your GAWA for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), provided that the withdrawals are taken prior to the Latest Income Date.  Once the For Life Guarantee becomes effective, it remains in effect until the endorsement is terminated, as described in the Access to Your Money section of this prospectus, or upon continuation of the Contract by the spouse (unless your endorsement is a For Life GMWB with Joint Option and the spouse continuing the Contract is a Covered Life in which case the For Life Guarantee remains in effect upon continuation of the Contract by the spouse).

§
Example 11b: This example demonstrates what happens if your Contract Value has fallen to $0 prior to the reset date, your GWB is $50,000 and your GAWA is $5,000:
¨
You will continue to receive automatic payments of a total annual amount that equals your GAWA until your GWB is depleted.  However, your GAWA would not be permitted to exceed your remaining GWB.  Your GAWA is not recalculated since the Contract Value is $0.
¨
The For Life Guarantee does not become effective due to the depletion of the Contract Value prior to the effective date of the For Life Guarantee.

§
Example 11c: This example demonstrates what happens if on the reset date, your Contract Value is $50,000, your GWB is $0, and your GAWA is $5,000:
¨
Your GAWA for the next year is recalculated to equal $0, which is equal to 5% of the current GWB ($0*0.05 = $0).
¨
The For Life Guarantee becomes effective, thus allowing you to make annual withdrawals equal to your GAWA for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), provided that the withdrawals are taken prior to the Latest Income Date.  Once the For Life Guarantee becomes effective, it remains in effect until the endorsement is terminated, as described in the Access to Your Money section of this prospectus, or upon continuation of the Contract by the spouse (unless your endorsement is a For Life GMWB with Joint Option and the spouse continuing the Contract is a Covered Life in which case the For Life Guarantee remains in effect upon continuation of the Contract by the spouse).
¨
Although your GAWA is $0, upon step-up or subsequent Premium payments, your GWB and your GAWA would increase to values greater than $0 and since the For Life Guarantee has become effective, you could withdraw an annual amount equal to your GAWA for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your reset date is the Contract Anniversary on or immediately following the date you attain age 59 1/2 (or in the case of Joint Owners, the oldest Joint Owner attains age 59 1/2 or the date the youngest Covered Life attains, or would have attained, age 59 1/2 if your endorsement is a For Life GMWB with Joint Option).

Example 12: This example illustrates how the For Life Guarantee is affected upon death of the Owner on a For Life GMWB with Joint Option.  (This example only applies if your endorsement is a For Life GMWB with Joint Option.)

§
This example demonstrates what happens if at the time of the death of the Owner (or either Joint Owner) the Contract Value is $105,000 and your GWB is $100,000:
¨
If your endorsement has a For Life Guarantee that becomes effective after the effective date of the endorsement, the surviving Covered Life may continue the Contract and the For Life Guarantee will remain in effect or become effective on the Contract Anniversary on the reset date.  Once the For Life Guarantee becomes effective, the surviving Covered Life will be able to take annual withdrawals equal to the GAWA for the rest of his or her life, provided that the withdrawals are taken prior to the Latest Income Date.
¨
If your endorsement has a For Life Guarantee that becomes effective on the effective date of the endorsement, the surviving Covered Life may continue the Contract and the For Life Guarantee will remain in effect.  The GAWA% and the GAWA will continue to be determined or re-determined based on the youngest Covered Life's attained age (or the age he or she would have attained).  The surviving Covered Life will be able to take annual withdrawals equal to the GAWA for the rest of his or her life, provided that the withdrawals are taken prior to the Latest Income Date.
¨
The surviving spouse who is not a Covered Life may continue the Contract and the For Life Guarantee is null and void.  However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted, provided that the withdrawals are taken prior to the Latest Income Date.
¨
Your GWB remains $100,000 and your GAWA remains unchanged at the time of continuation.

§
Notes:
¨
If your endorsement has a For Life Guarantee that becomes effective after the effective date of the endorsement, your reset date is the Contract Anniversary on or immediately following the date that the youngest Covered Life attains (or would have attained) age 59 1/2.
¨
Your Bonus Base remains unchanged at the time of continuation.
¨
Your BDB remains unchanged at the time of continuation.
¨
Your GMWB Earnings Determination Baseline remains unchanged at the time of continuation.

Example 13: This example demonstrates how the GWB is re-determined upon application of the Guaranteed Withdrawal Balance Adjustment.

§
Example 13a: This example demonstrates what happens if on the GWB Adjustment Date, your GWB is $160,000, your GWB Adjustment is $200,000, and you have taken no withdrawals on or prior to the GWB Adjustment Date:
¨
Your new GWB is recalculated to equal $200,000, which is the greater of 1) your GWB prior to the application of the GWB Adjustment ($160,000) or 2) the GWB Adjustment ($200,000).

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Example 13b: This example demonstrates what happens if on the GWB Adjustment Date, your GWB is $210,000, your GWB Adjustment is $200,000, and you have taken no withdrawals on or prior to the GWB Adjustment Date:
¨
Your new GWB is recalculated to equal $210,000, which is the greater of 1) your GWB prior to the application of the GWB Adjustment ($210,000) or 2) the GWB Adjustment ($200,000).

§
Notes:
¨
The GWB Adjustment provision is terminated on the GWB Adjustment Date after the GWB Adjustment is applied (if any).
¨
Since you have taken no withdrawals, your GAWA% and GAWA have not yet been determined, thus no adjustment is made to your GAWA.
¨
No adjustment is made to your Bonus Base since the Bonus Base is not impacted by the GWB Adjustment.
¨
No adjustment is made to your BDB since the BDB is not impacted by the GWB Adjustment.
¨
No adjustment is made to your GMWB Earnings Determination Baseline since the GMWB Earnings Determination Baseline is not impacted by the GWB Adjustment.

Example 14: This example expands on the basic examples at pages and and demonstrates how GMWB values are valued and re-determined at the time of a withdrawal when the Earnings-Sensitive Adjustment increases the permissible withdrawal amount.

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Example 14a: This example demonstrates how the Earnings-Sensitive Adjustment is applied if the GMWB Earnings are in excess of the total withdrawal.  This example assumes that you request a withdrawal that includes the applicable Earnings-Sensitive Adjustment, if any, where at the time of the withdrawal your Contract Value is $118,000, your GWB is $100,000, your GAWA is $5,000, your GMWB Earnings Determination Baseline is $100,000, and the For Life Guarantee is in effect. You have taken no other partial withdrawals during the current Contract Year. Thus, your requested withdrawal amount (before the application of the Earnings-Sensitive Adjustment) is $5,000:
¨
Your GMWB Earnings are equal to $18,000, which is the greater of zero and your Contract Value less your GMWB Earnings Determination Baseline ($118,000 - $100,000 = $18,000).
¨
Your MEWAR is equal to $5,000, which is the greater of zero and the Earnings-Sensitive Adjustments thus far in the current Contract Year plus the GAWA less all partial withdrawals thus far in the current Contract Year ($0 + $5,000 - $0 = $5,000).  Since no withdrawals have been taken in the current Contract Year the MEWAR equals the GAWA.
¨
The Earnings-Sensitive Adjustment is equal to $3,333, which is the lesser of two quantities:
-
$7,200, which is equal to 40% of the GMWB Earnings (0.40 * $18,000 = $7,200)
-
$3,333, which is equal to 2/3 of the lesser of the MEWAR and the withdrawal amount prior to the Earnings-Sensitive Adjustment (2/3 * $5,000 = $3,333).
¨
The total withdrawal amount is equal to $8,333, which is the requested withdrawal amount before the Earnings-Sensitive Adjustment (or your MEWAR) plus the Earnings-Sensitive Adjustment ($5,000 + $3,333 = $8,333).
¨
Your Contract Value after the withdrawal is equal to $109,667, which is the Contract Value prior to the withdrawal less the total withdrawal amount ($118,000 - $8,333 = $109,667).
¨
Your GMWB Earnings Determination Baseline after the withdrawal is equal to $100,000, which is the GMWB Earnings Determination Baseline prior to the withdrawal ($100,000) reduced by the amount of the withdrawal in excess of GMWB Earnings ($0, since the withdrawal of $8,333 is less than the GMWB Earnings of $18,000).  Since the GMWB Earnings is in excess of the total withdrawal the GMWB Earnings Determination Baseline is not reduced.
¨
Your MEWAR after the withdrawal is equal to $0, which is the greater of zero and the Earnings-Sensitive Adjustments thus far in the current Contract Year plus the GAWA less all partial withdrawals thus far in the current Contract Year ($3,333 + $5,000 - $8,333 = 0).
¨
Your GWB after the withdrawal is equal to $91,667, which is the GWB before the withdrawal less the total partial withdrawal ($100,000 - $8,333 = $91,667). Since the total partial withdrawals for the year do not exceed the total Earnings-Sensitive Adjustments for the current Contract Year ($3,333) plus the GAWA ($5,000), no proportional reduction applies to your GWB for this withdrawal.
¨
Since the total partial withdrawals for the year do not exceed the total Earnings-Sensitive Adjustments for the current Contract Year ($3,333) plus the GAWA ($5,000), your GAWA is unchanged after the withdrawal.

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Example 14b: This example demonstrates how the Earnings-Sensitive Adjustment is applied if there are no GMWB Earnings in the Contract, i.e. your Contract Value is less than the GMWB Earnings Determination Baseline at the time of your total withdrawal.  This example assumes that you request a withdrawal that includes the applicable Earnings-Sensitive Adjustment, if any, where at the time of the withdrawal your Contract Value is $98,000, your GWB is $100,000, your GAWA is $5,000, your GMWB Earnings Determination Baseline is $100,000, and the For Life Guarantee is in effect. You have taken no other partial withdrawals during the current Contract Year. Thus, your requested withdrawal amount (before the application of the Earnings-Sensitive Adjustment) is $5,000:
¨
Your GMWB Earnings are equal to $0, which is the greater of zero and your Contract Value less your GMWB Earnings Determination Baseline ($98,000 - $100,000 = -$2,000 which is less than zero).
¨
Your MEWAR is equal to $5,000, which is the greater of zero and the Earnings-Sensitive Adjustments thus far in the current Contract Year plus the GAWA less all partial withdrawals thus far in the current Contract Year ($0 + $5,000 - $0 = $5,000).  Since no withdrawals have been taken in the current Contract Year the MEWAR equals the GAWA.
¨
The Earnings-Sensitive Adjustment is equal to $0, which is the lesser of two quantities:
-
$0, which is equal to 40% of the GMWB Earnings (0.40 * $0 = $0)
-
$3,333, which is equal to 2/3 of the lesser of the MEWAR and the withdrawal amount prior to the Earnings-Sensitive Adjustment (2/3 * $5,000 = $3,333).
¨
The total withdrawal amount is equal to $5,000, which is the requested withdrawal amount before the Earnings-Sensitive Adjustment (or your MEWAR) plus the Earnings-Sensitive Adjustment ($5,000 + $0 = $5,000).
¨
Your Contract Value after the withdrawal is equal to $93,000, which is the Contract Value prior to the withdrawal less the total withdrawal amount ($98,000 - $5,000 = $93,000).
¨
Your GMWB Earnings Determination Baseline after the withdrawal is equal to $95,000, which is the GMWB Earnings Determination Baseline prior to the withdrawal ($100,000) reduced by the amount of the withdrawal in excess of GMWB Earnings ($5,000 - $0 = $5,000).  Since there are no GMWB Earnings at the time of the withdrawal the GMWB Earnings Determination Baseline is reduced by the total withdrawal amount.
¨
Your MEWAR after the withdrawal is equal to $0, which is the greater of zero and the Earnings-Sensitive Adjustments thus far in the current Contract Year plus the GAWA less all partial withdrawals thus far in the current Contract Year ($0 + $5,000 - $5,000 = 0).
¨
Your GWB after the withdrawal is equal to $95,000, which is the GWB before the withdrawal less the total partial withdrawal ($100,000 - $5,000 = $95,000). Since the total partial withdrawals for the year do not exceed the total Earnings-Sensitive Adjustments for the current Contract Year ($0) plus the GAWA ($5,000), no proportional reduction applies to your GWB for this withdrawal.
¨
Since the total partial withdrawals for the year do not exceed the total Earnings-Sensitive Adjustments for the current Contract Year ($0) plus the GAWA ($5,000), your GAWA is unchanged after the withdrawal.

§
Example 14c: This example demonstrates an Excess Withdrawal that results in a re-determination of your GWB and GAWA.  This example assumes that you request a withdrawal for $15,000 where at the time of the withdrawal your Contract Value is $108,000, your GWB is $100,000, your GAWA is $5,000, your GMWB Earnings Determination Baseline is $100,000, and the For Life Guarantee is in effect. You have taken no other partial withdrawals during the current Contract Year.
¨
Your GMWB Earnings are equal to $8,000, which is the greater of zero and your Contract Value less your GMWB Earnings Determination Baseline ($108,000 - $100,000 = $8,000).
¨
Your MEWAR is equal to $5,000, which is the greater of zero and the Earnings-Sensitive Adjustments thus far in the current Contract Year plus the GAWA less all partial withdrawals thus far in the current Contract Year ($0 + $5,000 - $0 = $5,000).  Since no withdrawals have been taken in the current Contract Year the MEWAR equals the GAWA.

¨
Because you specified a withdrawal of exactly $15,000 including the Earnings-Sensitive Adjustment, the amount of the Earnings-Sensitive Adjustment for that withdrawal must be calculated. This requires a couple of steps.

First, the Earnings-Sensitive Adjustment that would apply to a withdrawal of the MEWAR is calculated.  This is the maximum Earnings-Sensitive Adjustment that could apply to a withdrawal of any size at that time.  The maximum Earnings-Sensitive Adjustment is equal to $3,200, which is the lesser of two quantities:
$3,200, which is equal to 40% of the GMWB Earnings (0.40 * $8,000 = $3,200)
$3,333, which is equal to 2/3 of the MEWAR (2/3 * $5,000 = $3,333).

Second, your requested withdrawal is compared to the withdrawal of the MEWAR ($5,000) plus the maximum Earnings-Sensitive Adjustment ($3,200).  Your requested withdrawal of $15,000 is greater than $8,200 ($5,000 + $3,200), so your Earnings-Sensitive Adjustment is equal to the maximum Earnings-Sensitive Adjustment ($3,200).

 Thus, your $15,000 withdrawal has a $3,200 Earnings-Sensitive Adjustment.  Note that the result is the same as if you had requested a withdrawal of $11,800 plus the Earnings-Sensitive Adjustment, since your total withdrawal would also have been $15,000 in that case.

¨
The total withdrawal amount is equal to $15,000.  Thus, your requested withdrawal exceeds your GAWA plus the Earnings-Sensitive Adjustment.
¨
Your Contract Value after the withdrawal is equal to $93,000, which is the Contract Value prior to the withdrawal less the total withdrawal amount ($108,000 - $15,000 = $93,000).
¨
Your GMWB Earnings Determination Baseline after the withdrawal is equal to $93,000, which is the GMWB Earnings Determination Baseline prior to the withdrawal ($100,000) reduced by the amount of the withdrawal in excess of GMWB Earnings ($15,000 - $8,000 = $7,000).  Since a portion of the total withdrawal ($7,000) is in excess of GMWB Earnings, the GMWB Earnings Determination Baseline is reduced by the amount of the withdrawal in excess of GMWB Earnings.
¨
Your MEWAR after the withdrawal is equal to $0, which is the greater of zero and the Earnings-Sensitive Adjustments thus far in the current Contract Year plus the GAWA less all partial withdrawals thus far in the current Contract Year ($3,200 + $5,000 - $15,000 = -$6,800 which is less than zero).
¨
Your GWB after the withdrawal is equal to $85,545, which is your GWB reduced dollar-for-dollar for your GAWA plus the Earnings-Sensitive Adjustments in the current Contract Year, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA plus the Earnings-Sensitive Adjustments for the current Contract Year [($100,000 - $8,200) * (1 - ($15,000 - $8,200) / ($108,000 - $8,200)) = $85,545].
¨
Since the total partial withdrawals for the year ($15,000) then exceeds the total Earnings-Sensitive Adjustments for the current Contract Year ($3,200) plus the GAWA ($5,000), your GAWA after the withdrawal is equal to $4,659, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA plus the Earnings-Sensitive Adjustments for the current Contract Year [$5,000*(1-($15,000-$8,200)/($108,000-$8,200))=$4,659].

§
Notes:
¨
If your For Life Guarantee is not in effect, your Earnings-Sensitive Adjustment may not exceed the greater of zero or your GWB less the MEWAR.
¨
If you request a withdrawal of an exact amount (for example, you wish to take a withdrawal from your Contract Value of only your GAWA, and no more), an Earnings-Sensitive Adjustment will still be calculated.  The effect of that Earnings-Sensitive Adjustment will be to potentially allow for an additional amount available for withdrawal during the current Contract Year without incurring proportional reduction of your benefit.  In other words, due to the Earnings-Sensitive Adjustment your GAWA may decrease by less than the total amount of Contract Value withdrawn.

V.    LIFEGUARD FREEDOM FLEX

Unless otherwise specified, the following examples apply to and assume you elected LifeGuard Freedom Flex GMWB (referred to below as a GMWB) when you purchased your Contract, no other optional benefits other than Contract Enhancement that could be elected, your initial Premium payment net of any applicable Premium taxes was $100,000, your GAWA is greater than your RMD (if applicable) at the time a withdrawal is requested, all partial withdrawals requested include any applicable charges and no prior partial withdrawals have been made.  The examples assume that your age when the GAWA% is first determined corresponds to a GAWA% of 5%, the Contract Enhancement is 5%, the GMWB elected has a bonus percentage of 7%, and the GMWB and any For Life Guarantee have not been terminated.  If your age at the time the GAWA% is first determined corresponds to a GAWA% other than 5%, the examples will still apply, given that you replace the 5% in each of the GAWA calculations with the appropriate GAWA%.  If you elected a GMWB with a bonus percentage other than 7%, the examples will still apply if you replace the 7% in each of the bonus calculations with the appropriate bonus percentage for the GMWB you elected. References to the GMWB Death Benefit refer to a death benefit provided by certain GMWB endorsements, but not to any separate death benefit endorsement.

Example 1: This example demonstrates how GMWB values are set at election.  This example applies ONLY if your endorsement was issued on or after 04/29/2013.

§
Example 1a: If the GMWB is elected at issue:
¨
Your initial GWB is $100,000, which is your initial Premium payment, net of any applicable Premium taxes.
¨
Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5,000).

§
Example 1b: If the GMWB is elected after issue (subject to availability) when the Contract Value is $105,000 and your Contract includes a Contract Enhancement with a total Recapture Charge of $5,000 at the time the GMWB is elected:
¨
Your initial GWB is $100,000, which is your Contract Value ($105,000) less the Recapture Charge ($5,000) on the effective date of the endorsement.
¨
Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5,000).

§
Notes:
¨
Your initial Benefit Determination Baseline (BDB) is set equal to your initial Premium payment, net of any applicable Premium taxes, if the endorsement is elected at issue or your Contract Value less any applicable Recapture Charge if the endorsement is elected after issuance of the Contract (subject to availability).
¨
Your initial Bonus Base is set equal to your GWB at the time of election.
¨
Your initial 200% GWB Adjustment is set equal to 200% times your initial GWB.
¨
If your endorsement includes a GMWB Death Benefit provision, your initial GMWB Death Benefit is set equal to your initial GWB.

Example 2: This example demonstrates how GMWB values are set at election.  This example applies ONLY if your endorsement was issued before 04/29/2013.

§
Example 2a: If the GMWB is elected at issue:
¨
Your initial GWB is $105,000, which is your initial Premium payment, net of any applicable Premium taxes ($100,000), plus any Contract Enhancement ($100,000*0.05=$5,000).
¨
Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).

§
Example 2b: If the GMWB is added after issue (subject to availability) when the Contract Value is $105,000:
¨
Your initial GWB is $105,000, which is your Contract Value on the effective date of the endorsement.
¨
Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).

§
Notes:
¨
Your initial Benefit Determination Baseline (BDB) is set equal to your initial Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement, if the endorsement is elected at issue or your Contract Value if the endorsement is elected after issuance of the Contract, subject to availability.
¨
Your initial Bonus Base is set equal to your GWB at the time of election.
¨
Your initial GWB Adjustment is set equal to 200% times your initial GWB.
¨
If your endorsement includes a GMWB Death Benefit provision, your initial GMWB Death Benefit is set equal to your initial GWB.

Example 3: This example demonstrates how your GAWA% is determined.  Your GAWA% is determined on the earlier of the time of your first withdrawal, the date that your Contract Value reduces to zero, the date that the GMWB is continued by a spousal Beneficiary who is not a Covered Life, or upon election of the Life Income of a GMWB Income Option.  Your GAWA% is set based upon your attained age at that time.  Your initial GAWA is determined based on this GAWA% and the GWB at that time.

§
If, at the time the GAWA% is determined, your GAWA% is 5% based on your attained age and your GWB is $100,000, your initial GAWA is $5,000, which is your GAWA% multiplied by your GWB at that time ($100,000 * 0.05 = $5,000).
§
Your GAWA% will be re-determined based on your attained age if your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) at the time of a step-up is greater than the BDB.

Example 4: This example demonstrates how upon payment of a subsequent Premium, GMWB values may be re-determined. This example applies ONLY if your endorsement was issued on or after 04/29/2013.

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Example 4a: This example demonstrates what happens if you make an additional Premium payment, net of applicable premium taxes, of $50,000, and your GWB is $100,000 at the time of payment:
¨
Your new GWB is $150,000, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment, net of any applicable Premium taxes ($50,000).  Your GWB is subject to a maximum of $5,000,000 (see Example 4b).
¨
Your GAWA is $7,500, which is your GAWA prior to the additional Premium payment ($5,000) plus 5% of your additional Premium payment, net of any applicable Premium taxes ($50,000*0.05 = $2,500).

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Example 4b: This example demonstrates how GWB and GAWA are affected by the GWB $5,000,000 maximum, upon payment of a subsequent Premium.  If you make an additional Premium payment, net of any applicable Premium taxes, of $100,000 and your GWB is $4,950,000 and your GAWA is $247,500 at the time of payment:
¨
Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment, net of any applicable Premium taxes ($100,000) exceeds the maximum of $5,000,000.
¨
Your GAWA is $250,000, which is your GAWA prior to the additional Premium payment ($247,500) plus 5% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.05 = $2,500).

§
Notes:
¨
Your GAWA is recalculated upon payment of an additional Premium (as described above) only if such payment occurs after your GAWA% has been determined.
¨
Your BDB is increased by the Premium payment, net of any applicable Premium taxes.  The BDB is not subject to a maximum of $5,000,000.
¨
Your Bonus Base is increased by the Premium payment, net of any applicable Premium taxes, subject to a maximum of $5,000,000.
¨
If the Premium payment occurs prior to the first Contract Anniversary following the effective date of the endorsement, your 200% GWB Adjustment is increased by the Premium payment, net of any applicable Premium taxes, times 200%, subject to a maximum of $5,000,000.  For example, if, as in Example 4a, you make an additional Premium payment, net of any applicable Premium taxes, of $50,000 prior to your first Contract Anniversary following the effective date of the endorsement, and your 200% GWB Adjustment value before the additional Premium payment is $200,000, then the 200% GWB Adjustment is increased by 200% of the additional Premium payment, net of any applicable Premium taxes.  The resulting 200% GWB Adjustment is $200,000 + $100,000 = $300,000.
¨
If the Premium payment occurs on or after the first Contract Anniversary following the effective date of the endorsement, your 200% GWB Adjustment is increased by the Premium payment, net of any applicable Premium taxes, subject to a maximum of $5,000,000.  For example, if you make an additional Premium payment, net of any applicable Premium taxes, of $50,000 after your first Contract Anniversary following the effective date of the endorsement, and your 200% GWB Adjustment value before the additional Premium payment is $200,000, then the 200% GWB Adjustment is increased by 100% of the additional Premium payment, net of any applicable Premium taxes.  The resulting 200% GWB Adjustment is $200,000 + $50,000 = $250,000.
¨
If your endorsement includes a GMWB Death Benefit provision, your GMWB Death Benefit is increased by the Premium payment, net of any applicable Premium taxes, subject to a maximum of $5,000,000.

Example 5: This example demonstrates how upon payment of a subsequent Premium, GMWB values may be re-determined.  This example applies ONLY if your endorsement was issued before 04/29/2013.

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Example 5a: This example demonstrates what happens if you make an additional Premium payment, net of any applicable Premium taxes, of $50,000 and your GWB is $100,000 at the time of payment, and your Contract includes a Contract Enhancement provision which provides $2,500 to your Contract:
¨
Your new GWB is $152,500, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment, net of any applicable Premium taxes ($50,000), plus any Contract Enhancement ($2,500).  Your GWB is subject to a maximum of $5,000,000 (see Example 5b).
¨
Your GAWA is $7,625, which is your GAWA prior to the additional Premium payment ($5,000) plus 5% of your additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement (($50,000+$2,500)*0.05 = $2,625).

§
Example 5b: This example demonstrates how GWB and GAWA are affected by the GWB $5,000,000 maximum, upon payment of a subsequent Premium.  If you make an additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement of $100,000 and your GWB is $4,950,000 and your GAWA is $247,500 at the time of payment:
¨
Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement ($100,000) exceeds the maximum of $5,000,000.
¨
Your GAWA is $250,000, which is your GAWA prior to the additional Premium payment ($247,500) plus 5% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.05 = $2,500).

§
Notes:
¨
Your GAWA is recalculated upon payment of an additional Premium (as described above) only if such payment occurs after your GAWA% has been determined.
¨
Your BDB is increased by the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement.  The BDB is not subject to a maximum of $5,000,000.
¨
Your Bonus Base is increased by the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement, subject to a maximum of $5,000,000.
¨
If the Premium payment occurs prior to the first Contract Anniversary following the effective date of the endorsement, your GWB Adjustment is increased by the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement times 200%, subject to a maximum of $5,000,000.  For example, if, as in Example 5a, you make an additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement of $52,500 prior to your first Contract Anniversary following the effective date of the endorsement, and your GWB Adjustment value before the additional Premium payment is $200,000, then the GWB Adjustment is increased by 200% of the additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement.  The resulting GWB Adjustment is $200,000 + $105,000 = $305,000.
¨
If the Premium payment occurs on or after the first Contract Anniversary following the effective date of the endorsement, your GWB Adjustment is increased by the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement, subject to a maximum of $5,000,000.  For example, if you make an additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement of $52,500 after your first Contract Anniversary following the effective date of the endorsement, and your GWB Adjustment value before the additional Premium payment is $200,000, then the GWB Adjustment is increased by 100% of the additional Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement.  The resulting GWB Adjustment is $200,000 + $52,500 = $252,500.
¨
If your endorsement includes a GMWB Death Benefit provision, your GMWB Death Benefit is increased by the Premium payment, net of any applicable Premium taxes, plus any Contract Enhancement, subject to a maximum of $5,000,000.

Example 6: This example demonstrates how GMWB values are re-determined upon withdrawal of the guaranteed amount (which is your GAWA, or for certain tax-qualified Contracts only, the RMD (if greater than the GAWA)).

§
Example 6a: This example demonstrates what happens if you withdraw an amount equal to your GAWA ($5,000) when your GWB is $100,000:
¨
Your new GWB is $95,000, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($5,000).

¨
Your GAWA for the next year remains $5,000, since you did not withdraw an amount that exceeds your GAWA.
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($95,000 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the death of any Owner or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 6b: This example demonstrates what happens if you withdraw an amount equal to your RMD ($7,500), which is greater than your GAWA ($5,000) when your GWB is $100,000 and the RMD provision is in effect for your endorsement:
¨
Your new GWB is $92,500, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($7,500).
¨
Your GAWA for the next year remains $5,000, since your withdrawal did not exceed the greater of your GAWA ($5,000) or your RMD ($7,500).
¨
If you continued to take annual withdrawals equal to your initial and unchanged RMD ($7,500), it would take approximately an additional 12 years to deplete your GWB ($92,500 / $7,500 per year = approximately 12 years), provided that there are no further adjustments made to your GWB or your RMD (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your RMD could continue for the rest of your life (or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 12  years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your BDB remains unchanged since the BDB is not adjusted for partial withdrawals.
¨
Your Bonus Base remains unchanged since the withdrawal did not exceed the guaranteed amount; however, no Bonus will be applied to your GWB at the end of the Contract Year in which the withdrawal is taken.
¨
Your GWB Adjustment provision is terminated since a withdrawal is taken.
¨
If your endorsement includes a GMWB Death Benefit provision, your GMWB Death Benefit will not be reduced since the withdrawal did not exceed the greater of the GAWA or the RMD.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.

Example 7: This example demonstrates how GMWB values are re-determined upon withdrawal of an amount that exceeds your guaranteed amount (as defined in Example 6).

§
Example 7a: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $130,000 and your GWB is $100,000:
¨
Your new GWB is $91,200, which is your GWB, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $91,200].
¨
Your GAWA is recalculated to equal $4,800, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $4,800].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($91,200 / $4,800 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the any death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 7b: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $105,000 and your GWB is $100,000:
¨
Your new GWB is $90,250, which is your GWB, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($105,000 - $5,000)) = $90,250].
¨
Your GAWA is recalculated to equal $4,750, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000)/($105,000 - $5,000)) = $4,750].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($90,250 / $4,750 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

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Example 7c: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $55,000 and your GWB is $100,000:
 ¨
Your new GWB is $85,500, which is your GWB, first reduced dollar-for-dollar for any portion of the partial withdrawal not defined as an Excess Withdrawal (see below), then reduced in the same proportion that the Contract Value is reduced by the Excess Withdrawal [($100,000 - $5,000) * (1 - ($10,000 - $5,000) / ($55,000 - $5,000)) = $85,500].
¨
Your GAWA is recalculated to equal $4,500, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000*(1-($10,000-$5,000)/($55,000 - $5,000))=$4,500].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($85,500 / $4,500 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if your For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 19 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your BDB remains unchanged since the BDB is not adjusted for partial withdrawals.
¨
Your Bonus Base is recalculated to equal the lesser of 1) your Bonus Base prior to the withdrawal or 2) your GWB following the withdrawal.  In addition, no Bonus will be applied to your GWB at the end of the Contract Year in which the withdrawal is taken.
¨
Your GWB Adjustment provision is terminated since a withdrawal is taken.
¨
If your endorsement includes a GMWB Death Benefit provision, your GMWB Death Benefit will be reduced in the same proportion that the Contract Value is reduced for the amount of the withdrawal in excess of the GAWA.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
The Excess Withdrawal is defined to be the lesser of the total amount of the current partial withdrawal, or the amount by which the cumulative partial withdrawals for the current Contract Year exceeds the greater of the GAWA or the RMD, as applicable.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 8: This example illustrates how GMWB values are re-determined upon automatic step-up.

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Example 8a: This example demonstrates what happens if at the time of step-up your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) is $200,000, your GWB is $90,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $200,000, which is equal to your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable).
¨
If the step-up occurs after the initial determination of your GAWA%, the GAWA% will be re-determined based on your attained age (or the youngest Covered Life's attained age if your endorsement is a For Life GMWB with Joint Option) if your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) at the time of the step-up is greater than your BDB.
-
If, in the example above, your BDB is $100,000 and the GAWA% at the applicable attained age is 6%:
·
Your GAWA% is set to 6%, since your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) ($200,000) is greater than your BDB ($100,000).
·
Your GAWA is equal to $12,000, which is your new GWB multiplied by your new GAWA% ($200,000 * 0.06 = $12,000).
·
Your BDB is recalculated to equal $200,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) at the time of step-up ($200,000).
¨
If your Bonus Base is $100,000 just prior to the step-up, your Bonus Base is recalculated to equal $200,000, which is the greater of 1) your Bonus Base prior to the step-up ($100,000) or 2) your GWB following the step-up ($200,000).
- If you have not passed your Contract Anniversary immediately following your 80th birthday (or the youngest Covered Life's 80th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your Bonus Base has been increased due to the step-up.

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Example 8b: This example demonstrates what happens if at the time of step-up your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) is $90,000, your GWB is $80,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $90,000, which is equal to your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable).
¨
Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($90,000*0.05 = $4,500).
-
After step-up, if you continued to take annual withdrawals equal to your GAWA, it would take an additional 18 years to deplete your GWB ($90,000 / $5,000 per year = 18 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 18 years, provided that the withdrawals are taken prior to the Latest Income Date.
¨
If the step-up occurs after the initial determination of your GAWA%, the GAWA% will be re-determined based on your attained age (or the youngest Covered Life's attained age if your endorsement is a For Life GMWB with Joint Option) if your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) is greater than your BDB.  However, in this case, it is assumed BDB is $100,000.  See examples 1, 2, 4, and 5 for a description of how the BDB is determined.  Your BDB remains $100,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) at the time of step-up ($90,000).  Because the BDB did not increase upon step-up, this is not an opportunity for a redetermination of the GAWA%.  Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($90,000*0.05 = $4,500).
¨
If your Bonus Base is $100,000 just prior to the step-up, your Bonus Base remains $100,000, which is the greater of 1) your Bonus Base prior to the step-up ($100,000) or 2) your GWB following the step-up ($90,000).
- Though this endorsement allows for the Bonus Period to re-start, your Bonus Period will not re-start since your Bonus Base has not been increased due to the step-up.

§
Notes:
¨
The Company may increase the GMWB charge upon step-up. You will have an opportunity to discontinue the automatic step-ups and avoid the potential increase in charge due to step-up. You should carefully consider this decision and consult your representative.
¨
Your GWB will only step-up to the Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) if the Contract Value is greater than your GWB at the time of the automatic step-up.
¨
Your Bonus Base will be re-determined only if your GWB is increased upon step-up to a value above your Bonus Base just prior to the step-up.
¨
Your GAWA is recalculated upon step-up (as described above) only if the step-up occurs after your GAWA% has been determined.
¨
Your GWB Adjustment remains unchanged since step-ups do not impact the GWB Adjustment.
¨
If your endorsement contains a GMWB Death Benefit provision, your GMWB Death Benefit remains unchanged since step-ups do not impact the GMWB Death Benefit.
¨
If your endorsement was issued on or after 04/29/2013 and if your endorsement bases step-ups on the highest quarterly Contract Value, the highest quarterly Contract Value is equal to the highest of the quarterly adjusted Contract Values from the four most recent Contract Quarterly Anniversaries, including the Contract Anniversary upon which the step-up is determined. The quarterly adjusted Contract Value is equal to the Contract Value on the Contract Quarterly Anniversary, plus any Premium paid subsequent to that Contract Quarterly Anniversary, net of any applicable Premium taxes, adjusted for any partial withdrawals taken subsequent to that Contract Quarterly Anniversary.
¨
If your endorsement was issued before 04/29/2013 and if  your endorsement bases step-ups on the Highest Quarterly Contract Value, the Highest Quarterly Contract Value is equal to the highest of the quarterly adjusted Contract Values from the four most recent Contract Quarterly Anniversaries, including the Contract Anniversary upon which the step-up is determined. The quarterly adjusted Contract Value is equal to the Contract Value on the Contract Quarterly Anniversary, plus any Premium paid subsequent to that Contract Quarterly Anniversary, net of any applicable Premium taxes, plus any Contract Enhancement, adjusted for any partial withdrawals taken subsequent to that Contract Quarterly Anniversary.

Example 9: This example demonstrates how the timing of a withdrawal request interacts with the timing of the step-up provision to impact re-determination of GMWB values.

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Example 9a: This example demonstrates what happens if prior to any transactions your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) is $200,000, your GAWA is $5,000, your GWB is $100,000, your GWB is due to step-up automatically, and you also wish to take a withdrawal of an amount equal to $5,000:
¨
If you request the withdrawal the day after the step-up, upon step-up, your GWB is set equal to $200,000, which is your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable).  At that time, your GAWA is equal to $10,000, which is 5% of your new GWB ($200,000*0.05 = $10,000).  On the day following the step-up and after the withdrawal of $5,000, your new GWB is $195,000, which is your GWB less the amount of the withdrawal ($200,000 - $5,000 = $195,000) and your GAWA will remain at $10,000 since the amount of the withdrawal does not exceed your GAWA.  If you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 20 years to deplete your GWB ($195,000 / $10,000 per year = approximately 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.
-
If your Bonus Base is $100,000 just prior to the step-up, at the time of step-up, your Bonus Base is recalculated and is equal to $200,000, which is the greater of 1) your Bonus Base prior to the step-up ($100,000) or 2) your GWB following the step-up ($200,000).  Your Bonus Base is not adjusted upon withdrawal since the amount of the withdrawal does not exceed your GAWA.
-
If you have not passed the Contract Anniversary immediately following your 80th birthday (or the youngest Covered Life's 80th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your Bonus Base has been increased due to the step-up.
-
If your BDB is $100,000 just prior to the step-up, then at the time of step-up, your BDB is recalculated and is equal to $200,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) at the time of step-up ($200,000).  Your BDB is not adjusted upon withdrawal since the BDB is not reduced for partial withdrawals.
¨
 If you request the withdrawal prior to the step-up, immediately following the withdrawal transaction, your new GWB is $95,000, which is your GWB less the amount of the withdrawal ($100,000 - $5,000 = $95,000) and your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) becomes $195,000, which is your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) prior to the withdrawal less the amount of the withdrawal ($200,000 - $5,000 = $195,000).  Upon step-up following the withdrawal, your GWB is set equal to $195,000, which is your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable).  At that time, your GAWA is recalculated and is equal to $9,750, which is the greater of 1) your GAWA prior to the step-up ($5,000) or 2) 5% of your new GWB ($195,000*0.05 = $9,750).  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 20 years to deplete your GWB ($195,000 / $9,750 per year = 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.
-
If your Bonus Base is $100,000 just prior to the withdrawal, then at the time of the withdrawal, your Bonus Base is not adjusted since the amount of the withdrawal does not exceed your GAWA.  At the time of step-up, your Bonus Base is recalculated and is equal to $195,000, which is the greater of 1) your Bonus Base prior to the step-up ($100,000) or 2) your GWB following the step-up ($195,000).
-
If you have not passed the Contract Anniversary immediately following your 80th birthday (or the youngest Covered Life's 80th birthday if your endorsement is a For Life GMWB with Joint Option), your Bonus Period will re-start since your Bonus Base has been increased due to the step-up.
-
If your BDB is $100,000 just prior to the withdrawal, then at the time of the withdrawal, your BDB is not adjusted since the BDB is not reduced for partial withdrawals.  At the time of step-up, your BDB is recalculated and is equal to $195,000, which is the greater of 1) your BDB prior to the step-up ($100,000) or 2) your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) at the time of step-up ($195,000).
 
§
Notes:
¨
As the example illustrates, when considering a request for a withdrawal at or near the same time as application of a step-up, the order of the two transactions may impact your GAWA.
-
If the step-up would result in an increase in your GAWA and the requested withdrawal is less than or equal to your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.
-
If the step-up would result in an increase in your GAWA, and the withdrawal requested is greater than your new GAWA, your GAWA resulting after the two transactions would be greater if the withdrawal is requested after the step-up is applied.
- Otherwise, your GAWA resulting from the transactions is the same regardless of the order of transactions.
¨
This example would also apply in situations when the withdrawal exceeded your GAWA but not your permissible RMD.
¨
Your Bonus Base will be re-determined only if your GWB is increased upon step-up to a value above your Bonus Base just prior to the step-up.
¨
 The GAWA% is determined at the time of the withdrawal (if not previously determined).
- The GAWA% is re-determined upon step-up if your Contract Value (as determined based on either the Contract Anniversary Value or the Highest Quarterly Contract Value, as applicable) is greater than your BDB.
¨
Your GWB Adjustment provision is terminated at the time of the withdrawal.
¨
If your endorsement contains a GMWB Death Benefit provision, the GMWB Death Benefit would not be adjusted for the step-up since step-ups do not impact the GMWB Death Benefit, but your GMWB Death Benefit may be reduced for the withdrawal.
¨
If your endorsement was issued on or after 04/29/2013 and if your endorsement bases step-ups on the highest quarterly Contract Value, the highest quarterly Contract Value is equal to the highest of the quarterly adjusted Contract Values from the four most recent Contract Quarterly Anniversaries, including the Contract Anniversary upon which the step-up is determined. The quarterly adjusted Contract Value is equal to the Contract Value on the Contract Quarterly Anniversary, plus any Premium paid subsequent to that Contract Quarterly Anniversary, net of any applicable Premium taxes, adjusted for any partial withdrawals taken subsequent to that Contract Quarterly Anniversary.
¨
If your endorsement was issued before 04/29/2013 and if your endorsement bases step-ups on the Highest Quarterly Contract Value, the Highest Quarterly Contract Value is equal to the highest of the quarterly adjusted Contract Values from the four most recent Contract Quarterly Anniversaries, including the Contract Anniversary upon which the step-up is determined. The quarterly adjusted Contract Value is equal to the Contract Value on the Contract Quarterly Anniversary, plus any Premium paid subsequent to that Contract Quarterly Anniversary, net of any applicable Premium taxes, plus any Contract Enhancement, adjusted for any partial withdrawals taken subsequent to that Contract Quarterly Anniversary.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where a minimum death benefit is reduced proportionately for withdrawals, the death benefit may be reduced by more than the amount of the withdrawal.

Example 10: This example illustrates how GMWB values are re-determined upon application of the Bonus applied to your GWB.

§
Example 10a: This example demonstrates what happens if at the end of a Contract Year in which you have taken no withdrawals, your GWB is $100,000, your Bonus Base is $100,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $107,000, which is equal to your GWB plus 7% of your Bonus Base ($100,000 + $100,000*0.07 = $107,000).
¨
Your GAWA for the next year is equal $5,350, which is 5% of your new GWB ($107,000*0.05 = $5,350).
¨
After the application of the Bonus, if you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 20 years to deplete your GWB ($107,000 / $5,350 per year = approximately 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Example 10b: This example demonstrates what happens if at the end of a Contract Year in which you have taken no withdrawals, your GWB is $90,000, your Bonus Base is $100,000, and your GAWA is $5,000:
¨
Your new GWB is recalculated to equal $97,000, which is equal to your GWB plus 7% of your Bonus Base ($90,000 + $100,000*0.07 = $97,000).
¨
Your GAWA for the next year remains $5,000, which is the greater of 1) your GAWA prior to the application of the Bonus ($5,000) or 2) 5% of your new GWB ($97,000*0.05 = $4,850).
¨
After the application of the Bonus, if you continued to take annual withdrawals equal to your GAWA, it would take approximately an additional 20 years to deplete your GWB ($97,000 / $5,000 per year = approximately 20 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.  However, if the For Life Guarantee is in effect, withdrawals equal to your GAWA could continue for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), even beyond 20 years, provided that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
Your Bonus Base is not recalculated upon the application of the Bonus to your GWB.
¨
Your GAWA is recalculated upon the application of the Bonus (as described above) only if the application of the Bonus occurs after your GAWA% has been determined.
¨
Your BDB remains unchanged since the BDB is not impacted by the application of the Bonus.
¨
 Your GWB Adjustment remains unchanged since the GWB Adjustment is not impacted by the application of the Bonus.
¨
If your endorsement includes a GMWB Death Benefit provision, your GMWB Death Benefit remains unchanged since the GMWB Death Benefit is not impacted by the application of the Bonus.
¨
If the For Life Guarantee is not in effect, and if your GWB falls below your GAWA at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.

Example 11: This example illustrates how the GAWA is re-determined when the For Life Guarantee for the LifeGuard Freedom Flex and the LifeGuard Freedom Flex with Joint Option becomes effective after the effective date of the endorsement at age 59 1/2.  At the time the For Life Guarantee becomes effective, your GAWA is re-determined.  (This example only applies if your endorsement is a For Life GMWB that contains a For Life Guarantee that becomes effective after the effective date of the endorsement.)

§
Example 11a: This example demonstrates what happens if on the date the For Life Guarantee becomes effective, your Contract Value is $30,000, your GWB is $50,000, and your GAWA is $5,000:
¨
Your GAWA for the next year is recalculated to equal $2,500, which is equal to 5% of the current GWB ($50,000*0.05 = $2,500).
¨
The For Life Guarantee becomes effective, thus allowing you to make annual withdrawals equal to your GAWA for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), provided that the withdrawals are taken prior to the Latest Income Date.  Once the For Life Guarantee becomes effective, it remains in effect until the endorsement is terminated, as described in the Access to Your Money section of this prospectus, or upon continuation of the Contract by the spouse (unless your endorsement is a For Life GMWB with Joint Option and the spouse continuing the Contract is a Covered Life in which case the For Life Guarantee remains in effect upon continuation of the Contract by the spouse).

§
Example 11b: This example demonstrates what happens if your Contract Value has fallen to $0 prior to the date the For Life Guarantee becomes effective, your GWB is $50,000 and your GAWA is $5,000:
¨
You will continue to receive automatic payments of a total annual amount that equals your GAWA until your GWB is depleted.  However, your GAWA would not be permitted to exceed your remaining GWB.  Your GAWA is not recalculated since the Contract Value is $0.
¨
The For Life Guarantee does not become effective due to the depletion of the Contract Value prior to the effective date of the For Life Guarantee.

§
Example 11c: This example demonstrates what happens if on the date the For Life Guarantee becomes effective, your Contract Value is $50,000, your GWB is $0, and your GAWA is $5,000:
¨
Your GAWA for the next year is recalculated to equal $0, which is equal to 5% of the current GWB ($0*0.05 = $0).
¨
The For Life Guarantee becomes effective, thus allowing you to make annual withdrawals equal to your GAWA for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), provided that the withdrawals are taken prior to the Latest Income Date.  Once the For Life Guarantee becomes effective, it remains in effect until the endorsement is terminated, as described in the Access to Your Money section of this prospectus, or upon continuation of the Contract by the spouse (unless your endorsement is a For Life GMWB with Joint Option and the spouse continuing the Contract is a Covered Life in which case the For Life Guarantee remains in effect upon continuation of the Contract by the spouse).
¨
Although your GAWA is $0, upon step-up or subsequent Premium payments, your GWB and your GAWA would increase to values greater than $0 and since the For Life Guarantee has become effective, you could withdraw an annual amount equal to your GAWA for the rest of your life (or in the case of Joint Owners, until the first death of the Joint Owners or until the death of the last surviving Covered Life if your endorsement is a For Life GMWB with Joint Option), provided that the withdrawals are taken prior to the Latest Income Date.

Example 12: This example illustrates how the For Life Guarantee is affected upon death of the Owner on a For Life GMWB with Joint Option.

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This example demonstrates what happens if at the time of the death of the Owner (or either Joint Owner) the Contract Value is $105,000 and your GWB is $100,000:
¨
If your endorsement has a For Life Guarantee that becomes effective after the effective date of the endorsement, the surviving Covered Life may continue the Contract and the For Life Guarantee will remain in effect or begin on the date the For Life Guarantee becomes effective. The GAWA% and the GAWA will continue to be determined or re-determined based on the youngest Covered Life's attained age (or the age he or she would have attained).  Once the For Life Guarantee becomes effective, the surviving Covered Life will be able to take annual withdrawals equal to the GAWA for the rest of his or her life, provided that the withdrawals are taken prior to the Latest Income Date.
¨
If your endorsement has a For Life Guarantee that becomes effective on the effective date of the endorsement, the surviving Covered Life may continue the Contract and the For Life Guarantee will remain in effect.  The GAWA% and the GAWA will continue to be determined or re-determined based on the youngest Covered Life's attained age (or the age he or she would have attained).  The surviving Covered Life will be able to take annual withdrawals equal to the GAWA for the rest of his or her life, provided that the withdrawals are taken prior to the Latest Income Date.
¨
The surviving spouse who is not a Covered Life may continue the Contract and the For Life Guarantee is null and void.  However, the surviving spouse will be entitled to make withdrawals until the GWB is exhausted, provided that the withdrawals are taken prior to the Latest Income Date.
¨
Your GWB remains $100,000 and your GAWA remains unchanged at the time of continuation.

§
Notes:
¨
If your endorsement has a For Life Guarantee that becomes effective after the effective date of the endorsement, your reset date is the Contract Anniversary on or immediately following the youngest Covered Life attaining the age of 59 ½.  Your Bonus Base remains unchanged at the time of continuation.
¨
Your BDB remains unchanged at the time of continuation.

Example 13: This example demonstrates how the GWB is re-determined upon application of the GWB Adjustment.

§
Example 13a: This example demonstrates what happens if on the GWB Adjustment Date, your GWB is $160,000, your GWB Adjustment is $200,000, and you have taken no withdrawals on or prior to the GWB Adjustment Date:
¨
Your new GWB is recalculated to equal $200,000, which is the greater of 1) your GWB prior to the application of the GWB Adjustment ($160,000) or 2) the GWB Adjustment ($200,000).

§
Example 13b: This example demonstrates what happens if on the GWB Adjustment Date, your GWB is $210,000, your GWB Adjustment is $200,000, and you have taken no withdrawals on or prior to the GWB Adjustment Date:
¨
Your new GWB is recalculated to equal $210,000, which is the greater of 1) your GWB prior to the application of the GWB Adjustment ($210,000) or 2) the GWB Adjustment ($200,000).

§
Notes:
¨
The GWB Adjustment provision is terminated on the GWB Adjustment Date after the GWB Adjustment is applied (if any).
¨
Since you have taken no withdrawals, your GAWA% and GAWA have not yet been determined, thus no adjustment is made to your GAWA.
¨
No adjustment is made to your Bonus Base since the Bonus Base is not impacted by the GWB Adjustment.
¨
No adjustment is made to your BDB since the BDB is not impacted by the GWB Adjustment.
¨
If your endorsement includes a GMWB Death Benefit provision, no adjustment is made to your GMWB Death Benefit since the GMWB Death Benefit is not impacted by the GWB Adjustment.

VI.    MARKETGUARD STRETCH
Unless otherwise specified, the following examples assume you elected MarketGuard Stretch with a 5% benefit when you purchased your Contract, no other optional benefits were elected, your initial Premium payment was $100,000, your GAWA is greater than your Stretch RMD at the time a withdrawal is requested, all partial withdrawals requested include any applicable charges, and no prior partial withdrawals have been made. The examples also assume that the GMWB has not been terminated as described in the Access to Your Money section of this prospectus.
 
Example 1: This example demonstrates how GMWB values are set at election.

§
Example 1a: If the GMWB is elected at issue:
¨
Your initial GWB is $100,000, which is your initial Premium payment.
¨
Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5,000).
¨
Your initial GMWB Charge Base is $100,000, which is your initial GWB.

§
Example 1b: If the GMWB is elected after issue (if permitted) when the Contract Value is $105,000 and your Contract includes a Contract Enhancement with a total Recapture Charge of $5,000 at the time the GMWB is elected:
¨
Your initial GWB is $100,000, which is your Contract Value ($105,000) less the Recapture Charge ($5,000) on the effective date of the endorsement.
¨
Your GAWA is $5,000, which is 5% of your initial GWB ($100,000*0.05 = $5,000).
¨
Your initial GMWB Charge Base is $100,000, which is your initial GWB.

§
Example 1c: If the GMWB is elected after issue (if permitted) or you convert to the GMWB from another GMWB (if permitted) when the Contract Value is $110,000 and your Contract includes a Contract Enhancement with a total Recapture Charge of $5,000 at the time the GMWB is elected or converted:
¨
Your initial GWB in your new GMWB is $105,000, which is your Contract Value ($110,000) less the Recapture Charge ($5,000) on the effective date of the endorsement.  If you converted your GMWB when the GWB for your former GMWB was $120,000 and the Contract Value less the Recapture Charge declined to $105,000 prior to the conversion date, the conversion to the new GMWB would result in a $15,000 reduction in the GWB.
¨
Your GAWA is $5,250, which is 5% of your initial GWB ($105,000*0.05 = $5,250).

§
Notes:
¨
Your GAWA% and GAWA are not determined until the earlier of the time of your first withdrawal or the date that your Contract Value reduces to zero.

Example 2: This example demonstrates how your GAWA% is determined.  Your GAWA% is determined on the earlier of the time of your first withdrawal or the date that your Contract Value reduces to zero. Your GAWA% is set based upon your attained age at that time.  Your initial GAWA is determined based on this GAWA% and the GWB at that time.

§
If, at the time the GAWA% is determined, your GAWA% is 5% based on your attained age and your GWB is $100,000, your initial GAWA is $5,000, which is your GAWA% multiplied by your GWB at that time ($100,000 * 0.05 = $5,000).

Example 3: This example demonstrates how upon payment of a subsequent Premium, GMWB values may be re-determined.

§
Example 3a: This example demonstrates what happens if you make an additional Premium payment of $50,000, your GWB is $100,000, your GAWA is $5,000, your GMWB Charge Base is $100,000, and your Contract includes a Contract Enhancement provision which provides $2,500 to your Contract at the time of the Premium payment:
¨
Your new GWB is $150,000, which is your GWB prior to the additional Premium payment ($100,000) plus your additional Premium payment ($50,000).  Your GWB is subject to a maximum of $5,000,000 (see Example 3b).
¨
Your GAWA is $7,500, which is your GAWA prior to the additional Premium payment ($5,000) plus 5% of your additional Premium payment ($50,000*0.05 = $2,500).
¨
Your new GMWB Charge Base is $150,000, which is your GMWB Charge Base prior to the additional Premium payment ($100,000) plus your additional Premium payment ($50,000).  Your GMWB Charge Base is subject to a maximum of $5,000,000 (see Example 3b).

§
Example 3b: This example demonstrates how GWB and GAWA are affected by the GWB $5,000,000 maximum, upon payment of a subsequent Premium.  If you make an additional Premium payment of $100,000, your GWB is $4,950,000, your GAWA is $247,500, and your GMWB Charge Base is $4,950,000 at the time of payment:
¨
Your new GWB is $5,000,000, which is the maximum, since your GWB prior to the additional Premium payment ($4,950,000) plus your additional Premium payment ($100,000) exceeds the maximum of $5,000,000.
¨
Your GAWA is $250,000, which is your GAWA prior to the additional Premium payment ($247,500) plus 5% of the allowable $50,000 increase in your GWB (($5,000,000 - $4,950,000)*0.05 = $2,500).
¨
Your new GMWB Charge Base is $5,000,000, which is the maximum, since your GMWB Charge Base prior to the additional Premium payment ($4,950,000) plus your additional Premium payment ($100,000) exceeds the maximum of $5,000,000.

§
Notes:
¨
Your GAWA is recalculated upon payment of an additional Premium (as described above) only if such payment occurs after your GAWA % has been determined.
 
Example 4: This example demonstrates how GMWB values are re-determined upon withdrawal of the guaranteed amount (which is the greater of your GAWA or your Stretch RMD).

§
Example 4a: This example demonstrates what happens if you withdraw an amount equal to your GAWA ($5,000) when your GWB is $100,000 and your GMWB Charge Base is $100,000:
¨
Your new GWB is $95,000, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($5,000).
¨
Your GAWA for the next year remains $5,000, since you did not withdraw an amount that exceeds your GAWA.
¨
Your GMWB Charge Base remains $100,000, since you did not withdraw an amount that exceeds your GAWA.
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($95,000 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Example 4b: This example demonstrates what happens if you withdraw an amount equal to your Stretch RMD ($7,500), which is greater than your GAWA ($5,000) when your GWB is $100,000 and your GMWB Charge Base is $100,000:
¨
Your new GWB is $92,500, which is your GWB prior to the withdrawal ($100,000) less the amount of the withdrawal ($7,500).
¨
Your GAWA for the next year remains $5,000, since your withdrawal did not exceed the greater of your GAWA ($5,000) or your Stretch RMD ($7,500).
¨
Your GMWB Charge Base remains $100,000, since your withdrawal did not exceed the greater of your GAWA ($5,000) or your Stretch RMD ($7,500).
¨
If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($92,500 / $5,000 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.

§
Notes:
¨
If your GAWA falls below your GWB at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 5: This example demonstrates how GMWB values are re-determined upon withdrawal of an amount that exceeds your guaranteed amount (as defined in Example 4).

§
Example 5a –This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $130,000, your GWB is $100,000, and your GMWB Charge Base is $100,000:
¨
Your  new GWB is $91,200, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $91,200].
¨
Your GAWA is recalculated to equal $4,800, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $4,800].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($91,200 / $4,800 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.
¨
Your GMWB Charge Base is recalculated to equal $96,000, which is your current GMWB Charge Base reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$100,000,000 * (1 - ($10,000 - $5,000) / ($130,000 - $5,000)) = $96,000].

§
Example 5b: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $105,000, your GWB is $100,000, and your GMWB Charge Base is $100,000:
¨
Your new GWB is $90,250, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000)*(1 - ($10,000 - $5,000) / ($105,000 - $5,000)) = $90,250].

¨
Your GAWA is recalculated to equal $4,750, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000 * (1 - ($10,000 - $5,000)/($105,000 - $5,000)) = $4,750].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($90,250 / $4,750 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.
¨
Your GMWB Charge Base is recalculated to equal $95,000, which is your current GMWB Charge Base reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$100,000,000 * (1 - ($10,000 - $5,000) / ($105,000 - $5,000)) = $95,000].

§
Example 5c: This example demonstrates what happens if you withdraw an amount ($10,000) that exceeds your GAWA ($5,000) when your Contract Value is $55,000, your GWB is $100,000, and your GMWB Charge Base is $100,000:
¨
Your new GWB is $85,500, which is your GWB reduced dollar-for-dollar for your GAWA, then reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [($100,000 - $5,000) * (1 - ($10,000 - $5,000) / ($55,000 - $5,000)) = $85,500].
¨
Your GAWA is recalculated to equal $4,500, which is your current GAWA reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$5,000*(1-($10,000-$5,000)/($55,000 - $5,000))=$4,500].  If you continued to take annual withdrawals equal to your GAWA, it would take an additional 19 years to deplete your GWB ($85,500 / $4,500 per year = 19 years), provided that there are no further adjustments made to your GWB or your GAWA (besides the annual reduction of your GWB by the amount of the withdrawal) and that the withdrawals are taken prior to the Latest Income Date.
¨
Your GMWB Charge Base is recalculated to equal $90,000, which is your current GMWB Charge Base reduced in the same proportion that the Contract Value is reduced for the portion of the withdrawal that is in excess of the GAWA [$100,000,000 * (1 - ($10,000 - $5,000) / ($55,000 - $5,000)) = $90,000].

§
Notes:
¨
If your GAWA falls below your GWB at the end of your Contract Year, your GAWA will be adjusted to equal your GWB.
¨
Withdrawals taken in connection with a GMWB are considered the same as any other withdrawal for the purpose of determining all other values under the Contract.  In the case where your minimum death benefit is reduced proportionately for withdrawals, your death benefit may be reduced by more than the amount of the withdrawal.

Example 6: This example demonstrates how the GMWB Maturity Year affects your GMWB.

§
Example 6a: This example demonstrates what happens if your Contract Value is $5,000 and your GWB is $8,000 on the Contract Anniversary occurring in your GMWB Maturity Year:
¨
Your GMWB Maturity Year payment equals $3,000, which is the excess of your GWB ($8,000) over your Contract Value ($5,000).
¨
Your Contract Value remains $5,000.
¨
Your GMWB terminates. No further benefits will be payable under your GMWB.

§
Example 6b: This example demonstrates what happens if your Contract Value is $15,000 and your GWB is $8,000 on the Contract Anniversary occurring in your GMWB Maturity Year:
¨
Your GMWB Maturity Year payment equals zero, since your GWB ($8,000) does not exceed your Contract Value ($15,000).
¨
Your Contract Value remains $15,000.
¨
Your GMWB terminates. No further benefits will be payable under your GMWB.

§
Notes:
¨
Your GMWB Maturity Year is determined on the effective date of the endorsement and will not change, even if the GMWB is continued by your Beneficiary.

 
 
 
TRANSFER OF ASSETS METHODOLOGY

On each Contract Monthly Anniversary, transfers to or from the GMWB Fixed Account will be determined based on the formulas defined below.

Liability = GAWA x annuity factor

The Liability calculated in the above formula is designed to represent the projected value of this GMWB’s benefits.  If the GAWA% has not yet been determined, the GAWA used in the Liability calculation will be based on the GAWA% corresponding to the Owner’s (or oldest Joint Owner’s) attained age at the time the Liability is calculated, multiplied by the GWB at that time.

The tables of annuity factors (as shown below) are set at election of the Jackson Select Protector GMWB and do not change.

Ratio = (Liability – GMWB Fixed Account Contract Value) ¸ (Separate Account Contract Value + Fixed Account Contract Value)

If the sum of the Separate Account Contract Value and the Fixed Account Contract Value is equal to zero, the Ratio will not be calculated.

The transfer amount is determined as follows:

If the Ratio is less than 77% or if the GMWB Fixed Account Contract Value is greater than the Liability and all funds are allocated to the GMWB Fixed Account, the amount transferred from the GMWB Fixed Account is equal to the lesser of:
1.
The GMWB Fixed Account Contract Value; or
2.
(GMWB Fixed Account Contract Value + 80% x (Separate Account Contract Value + Fixed Account Contract Value) – Liability) ¸ (1-80%).

If the Ratio is greater than 83%, the amount transferred to the GMWB Fixed Account is equal to the lesser of:
1.
Separate Account Contract Value + Fixed Account Contract Value; or
2.
(Liability – GMWB Fixed Account Contract Value – 80% x (Separate Account Contract Value + Fixed Account Contract Value)) ¸ (1-80%).

Otherwise, no funds are transferred.

Under the Jackson Select Protector GMWB, if any transfer indicated by the above procedure would result in the GMWB Fixed Account Value exceeding 90% of the Contract Value, then the actual transfer will be such that exactly 90% of the Contract Value is allocated to the GMWB Fixed Account.  Otherwise, the indicated transfer will be the actual transfer.
E-1
 
Jackson Select Protector GMWB
Transfer of Assets Provision
Annuity Factors*

Age**
Contract Monthly Anniversary

 
1
2
3
4
5
6
7
8
9
10
11
12
65
15.26
15.22
15.19
15.15
15.12
15.08
15.05
15.01
14.97
14.94
14.90
14.87
66
14.83
14.79
14.76
14.72
14.68
14.65
14.61
14.57
14.54
14.50
14.46
14.43
67
14.39
14.35
14.32
14.28
14.25
14.21
14.18
14.14
14.10
14.07
14.03
14.00
68
13.96
13.92
13.89
13.85
13.81
13.77
13.74
13.70
13.66
13.62
13.59
13.55
69
13.51
13.47
13.44
13.40
13.37
13.33
13.30
13.26
13.22
13.19
13.15
13.12
70
13.08
13.04
13.01
12.97
12.93
12.89
12.86
12.82
12.78
12.74
12.71
12.67
71
12.63
12.59
12.56
12.52
12.48
12.44
12.41
12.37
12.33
12.29
12.26
12.22
72
12.18
12.14
12.11
12.07
12.03
12.00
11.96
11.92
11.89
11.85
11.81
11.78
73
11.74
11.70
11.67
11.63
11.60
11.56
11.53
11.49
11.45
11.42
11.38
11.35
74
11.31
11.27
11.24
11.20
11.16
11.12
11.09
11.05
11.01
10.97
10.94
10.90
75
10.86
10.82
10.79
10.75
10.72
10.68
10.65
10.61
10.57
10.54
10.50
10.47
76
10.43
10.39
10.36
10.32
10.28
10.25
10.21
10.17
10.14
10.10
10.06
10.03
77
9.99
9.96
9.92
9.89
9.85
9.82
9.78
9.75
9.71
9.68
9.64
9.61
78
9.57
9.54
9.50
9.47
9.43
9.40
9.36
9.33
9.29
9.26
9.22
9.19
79
9.15
9.12
9.08
9.05
9.01
8.98
8.94
8.91
8.87
8.84
8.80
8.77
80
8.73
8.70
8.66
8.63
8.60
8.56
8.53
8.50
8.46
8.43
8.40
8.36
81
8.33
8.30
8.26
8.23
8.20
8.16
8.13
8.10
8.06
8.03
8.00
7.96
82
7.93
7.90
7.86
7.83
7.80
7.76
7.73
7.70
7.66
7.63
7.60
7.56
83
7.53
7.50
7.47
7.44
7.41
7.38
7.35
7.31
7.28
7.25
7.22
7.19
84
7.16
7.13
7.10
7.07
7.04
7.01
6.98
6.95
6.92
6.89
6.86
6.83
85
6.80
6.77
6.74
6.71
6.68
6.65
6.62
6.59
6.56
6.53
6.50
6.47
86
6.44
6.41
6.39
6.36
6.33
6.30
6.28
6.25
6.22
6.19
6.17
6.14
87
6.11
6.08
6.06
6.03
6.00
5.98
5.95
5.92
5.90
5.87
5.84
5.82
88
5.79
5.76
5.74
5.71
5.69
5.66
5.64
5.61
5.58
5.56
5.53
5.51
89
5.48
5.46
5.43
5.41
5.38
5.36
5.34
5.31
5.29
5.26
5.24
5.21
90
5.19
5.17
5.14
5.12
5.10
5.07
5.05
5.03
5.00
4.98
4.96
4.93
91
4.91
4.89
4.87
4.85
4.83
4.81
4.79
4.76
4.74
4.72
4.70
4.68
92
4.66
4.64
4.62
4.60
4.58
4.56
4.54
4.51
4.49
4.47
4.45
4.43
93
4.41
4.39
4.37
4.35
4.33
4.31
4.30
4.28
4.26
4.24
4.22
4.20
94
4.18
4.16
4.14
4.13
4.11
4.09
4.07
4.05
4.03
4.02
4.00
3.98
95
3.96
3.94
3.93
3.91
3.89
3.87
3.86
3.84
3.82
3.80
3.79
3.77
96
3.75
3.73
3.72
3.70
3.68
3.66
3.65
3.63
3.61
3.59
3.58
3.56
97
3.54
3.52
3.51
3.49
3.47
3.46
3.44
3.42
3.41
3.39
3.37
3.36
98
3.34
3.32
3.31
3.29
3.27
3.26
3.24
3.22
3.21
3.19
3.17
3.16
99
3.14
3.12
3.11
3.09
3.07
3.06
3.04
3.02
3.01
2.99
2.97
2.96
100
2.94
2.92
2.91
2.89
2.87
2.85
2.84
2.82
2.80
2.78
2.77
2.75
101
2.73
2.71
2.70
2.68
2.66
2.65
2.63
2.61
2.60
2.58
2.56
2.55
102
2.53
2.51
2.50
2.48
2.46
2.45
2.43
2.41
2.40
2.38
2.36
2.35  
103
2.33
2.31
2.30
2.28
2.26
2.24
2.23
2.21
2.19
2.17
2.16
2.14  
104
2.12
2.10
2.09
2.07
2.06
2.04
2.03
2.01
1.99
1.98
1.96
1.95  
105
1.93
1.91
1.90
1.88
1.87
1.85
1.84
1.82
1.80
1.79
1.77
1.76  
106
1.74
1.73
1.71
1.70
1.68
1.67
1.65
1.64
1.62
1.61
1.59
1.58  
107
1.56
1.55
1.53
1.52
1.50
1.49
1.47
1.46
1.44
1.43
1.41
1.40  
108
1.38
1.37
1.35
1.34
1.33
1.31
1.30
1.29
1.27
1.26
1.25
1.23  
109
1.22
1.21
1.19
1.18
1.17
1.15
1.14
1.13
1.11
1.10
1.09
1.07  
110
1.06
1.05
1.04
1.03
1.01
1.00
0.99
0.98
0.97
0.96
0.94
0.93  
111
0.92
0.91
0.90
0.89
0.88
0.87
0.86
0.84
0.83
0.82
0.81
0.80  
112
0.79
0.78
0.77
0.76
0.75
0.74
0.73
0.72
0.71
0.70
0.69
0.68  
113
0.67
0.66
0.65
0.64
0.63
0.62
0.62
0.61
0.60
0.59
0.58
0.57  
114
0.56
0.55
0.54
0.54
0.53
0.52
0.51
0.50
0.49
0.49
0.48
0.47  
115
0.46
0.42
0.38
0.35
0.31
0.27
0.23
0.19
0.15
0.12
0.08
0.04  

* Annuity factors are based on the Annuity 2000 Mortality Table and 3.00% interest.
 
E-2
 
** The age of the Owner as of the effective date or the most recent Contract Anniversary.  On each Contract Anniversary and at the effective date of the endorsement, if the Owner is aged 55-64 then the factor for age 65 and the first contract monthly anniversary will apply until age 65.
 
E-3
 
 
HISTORICAL CHARGES FOR GUARANTEED MINIMUM WITHDRWAWAL BENEFITS (GMWBS)
 
 
I. LifeGuard Freedom 6 Net GMWB

For LifeGuard Freedom 6 Net GMWBs issued before September 15, 2014, the applicable charges are listed in the tables below. For complete information about the charge for this GMWB, please see “For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount (“LifeGuard Freedom 6 Net”) Charge” on page 38 .

GMWBS ISSUED ON OR AFTER APRIL 29, 2013*

Annual Charge
 
Maximum
Current
For endorsements purchased without Optional Income Upgrade Table
 
2.50%
(MO and
 WA Only)
 2.52%
1.25%
(MO and
 WA Only)
 1.26%
For endorsements purchased with Optional Income Upgrade Table
 
3.00%
(MO and
 WA Only)
 3.00%
1.50%
(MO and
 WA Only)
 1.50%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
*In Missouri, these charges apply to GMWBs issued on or after September 16, 2013.
 
 
GMWBS ISSUED BEFORE APRIL 29, 2013*

Annual Charge
 
Maximum
Current
For endorsements purchased without Optional Income Upgrade Table
 
2.20%
(WA Only)
2.22%
1.10%
(WA Only)
1.11%
For endorsements purchased with Optional Income Upgrade Table
 
2.70%
(WA Only)
2.70%
1.35%
(WA Only)
1.35%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
*In Missouri, these charges apply to GMWBs issued before September 16, 2013.
 
II. LifeGuard Freedom 6 Net With Joint Option GMWB

For LifeGuard Freedom 6 Net With Joint Option GMWBs issued before September 15, 2014, the applicable charges are listed in the tables below. For complete information about the charge for this GMWB, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount (“LifeGuard Freedom 6 Net With Joint Option”) Charge” on page 39 .
 

GMWBS ISSUED ON OR AFTER SEPTEMBER 16, 2013*
 
Annual Charge
 
Maximum
Current
   
 
 
3.00%
(MO and WA Only)
3.00%
 
 
1.60%
(MO and
WA Only)
1.62%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
*On or after September 16, 2013, the Optional Income Upgrade Table is no longer available with this GMWB.
 
F-1
 
GMWBS ISSUED BEFORE SEPTEMBER 16, 2013
 
Annual Charge
 
Maximum
Current
For endorsements purchased without Optional Income Upgrade Table
 
3.00%
(WA Only)
3.00%
1.55%
(WA Only)
1.56%
For endorsements purchased with Optional Income Upgrade Table
 
3.00%
(WA Only)
3.00%
1.80%
(WA Only)
1.80%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
 
III. LifeGuard Freedom Flex GMWB

For LifeGuard Freedom Flex GMWBs issued before September 15, 2014, the applicable charges are listed in the tables below. For complete information about the charge for this GMWB, please see “For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Step-Up (“LifeGuard Freedom Flex GMWB”) Charge” on page 40 .

GMWBS ISSUED ON OR AFTER APRIL 29, 2013*

LifeGuard Freedom Flex GMWB Without Optional Income Upgrade Table
Options
 
Maximum Annual Charge
Current Annual Charge
 
 
5% Bonus and Annual Step-Up
 
 
 
2.00%
(MO and
 WA Only)
 2.04%
 
 
1.00%
(MO and
WA Only)
 1.02%
6% Bonus and Annual Step-Up
 
2.20%
2.22%
1.10%
1.11%
7% Bonus and Annual Step-Up
 
2.50%
2.52%
1.25%
1.26%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
 
 
LifeGuard Freedom Flex GMWB With Optional Income Upgrade Table
Options
 
Maximum Annual Charge
Current Annual Charge
5% Bonus and Annual Step-Up
 
2.50%
(MO and
WA Only)
 2.52%
1.25%
(MO and
WA Only)
 1.26%
6% Bonus and Annual Step-Up
 
2.70%
2.70%
1.35%
1.35%
7% Bonus and Annual Step-Up
 
3.00%
3.00%
1.50%
1.50%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
*In Missouri, these charges apply to GMWBs issued on or after September 16, 2013.


GMWBS ISSUED BEFORE APRIL 29, 2013*
 
LifeGuard Freedom Flex GMWB Without Optional Income Upgrade Table
Options
 
Maximum Annual Charge
Current Annual Charge
 
5% Bonus and Annual Step-Up
 
 
1.80%
(WA Only)
1.80%
 
0.90%
(WA Only)
0.90%
5% Bonus and Annual Step-Up to the Highest Quarterly Contract Value (no longer offered on or after April 29, 2013)
 
2.00%
2.04%
1.00%
1.02%
6% Bonus and Annual Step-Up
 
1.90%
1.92%
0.95%
0.96%
6% Bonus and Annual Step-Up to the Highest Quarterly Contract Value (no longer offered on or after April 29, 2013)
 
2.20%
2.22%
1.10%
1.11%
7% Bonus and Annual Step-Up
 
2.20%
2.22%
1.10%
1.11%
7% Bonus and Annual Step-Up to the Highest Quarterly Contract Value (no longer offered on or after April 29, 2013)
 
2.50%
2.52%
1.25%
1.26%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
 
F-2
 
LifeGuard Freedom Flex GMWB With Optional Income Upgrade Table
Options
 
Maximum Annual Charge
Current Annual Charge
 
5% Bonus and Annual Step-Up
 
 
2.30%
(WA Only)
2.34%
 
1.15%
(WA Only)
1.17%
5% Bonus and Annual Step-Up to the Highest Quarterly Contract Value (no longer offered on or after April 29, 2013)
 
2.50%
2.52%
1.25%
1.26%
6% Bonus and Annual Step-Up
 
2.40%
2.40%
1.20%
1.20%
6% Bonus and Annual Step-Up to the Highest Quarterly Contract Value (no longer offered on or after April 29, 2013)
 
2.70%
2.70%
1.35%
1.35%
7% Bonus and Annual Step-Up
 
2.70%
2.70%
1.35%
1.35%
7% Bonus and Annual Step-Up to the Highest Quarterly Contract Value (no longer offered on or after April 29, 2013)
 
3.00%
3.00%
1.50%
1.50%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
*In Missouri, these charges apply to GMWBs issued before September 16, 2013.

IV. LifeGuard Freedom Flex With Joint Option GMWB

For LifeGuard Freedom Flex With Joint Option GMWBs issued before September 15, 2014, the applicable charges are listed in the tables below. For complete information about the charge for this GMWB, please see “Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus And Step-Up (“LifeGuard Freedom Flex With Joint Option GMWB”) Charge” on page 42 .

GMWBS ISSUED ON OR AFTER SEPTEMBER 16, 2013*
 
LifeGuard Freedom Flex With Joint Option GMWB
Options
 
Maximum Annual Charge
Current Annual Charge
 
 
5% Bonus and Annual Step-Up
 
 
 
2.70%
(MO and
WA Only)
2.70%
 
 
1.35%
(MO and
WA Only)
 1.35%
6% Bonus and Annual Step-Up
 
2.90%
2.94%
1.45%
1.47%
7% Bonus and Annual Step-Up
 
3.00%
3.00%
1.60%
1.62%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
*On or after September 16, 2013, the Optional Income Upgrade Table is no longer available with this GMWB.
 
 
GMWBS ISSUED BEFORE SEPTEMBER 16, 2013
 
LifeGuard Freedom Flex With Joint Option GMWB Without Optional Income Upgrade Table
Options
 
Maximum Annual Charge
Current Annual Charge
 
5% Bonus and Annual Step-Up
 
 
2.10%
(WA Only)
2.10%
 
1.05%
(WA Only)
1.05%
5% Bonus and Annual Step-Up to the Highest Quarterly Contract Value
 
2.50%
2.52%
1.25%
1.26%
6% Bonus and Annual Step-Up
 
2.50%
2.52%
1.25%
1.26%
6% Bonus and Annual Step-Up to the Highest Quarterly Contract Value (no longer offered on or after September 10, 2012)
 
3.00%
3.00%
1.50%
1.50%
7% Bonus and Annual Step-Up (no longer offered on or after September 10, 2012)
 
3.00%
3.00%
1.50%
1.50%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
 
F-3
 
LifeGuard Freedom Flex With Joint Option GMWB With Optional Income Upgrade Table
Options
 
Maximum Annual Charge
Current Annual Charge
 
5% Bonus and Annual Step-Up
 
 
2.60%
(WA Only)
2.64%
 
1.30%
(WA Only)
1.32%
5% Bonus and Annual Step-Up to the Highest Quarterly Contract Value
 
3.00%
3.00%
1.50%
1.50%
6% Bonus and Annual Step-Up
 
3.00%
3.00%
1.50%
1.50%
Charge Basis
 
GWB
Charge Frequency
 
Quarterly
Monthly
Quarterly
Monthly
 
F-4
 

ACCUMULATION UNIT VALUES

The tables reflect the Accumulation Unit values for each Investment Division for the beginning and end of the periods indicated, and the number of Accumulation Units outstanding as of the end of the periods indicated – for a base Contract (with Administration Charge waiver and no optional endorsements) and for a Contract with the most expensive combination of charges and optional endorsements.  The tables do not provide partial year information.  The tables provide Accumulation Unit values and the number of Accumulation Units outstanding only if that information is available throughout the period.  Where Accumulation Unit values and the number of Accumulation Units outstanding are unavailable, either because of a partial year or a Fund not being offered, a “N/A” is provided.

If the annualized charge for your Contract falls between the charge for a base Contract and a Contract with the most expensive combination of charges and optional endorsements, information about the values of all remaining Accumulation Units is available in the SAI.  Contact the Annuity Service Center to request your copy   of the SAI free of charge.  Our contact information is on the cover page of the prospectus.  Also, please ask about the more timely Accumulation Unit values that are available for each Investment Division.

Set forth below are fund changes and additions since the September 1 5 , 201 4 Supplement to the Prospectus dated April 2 8 , 201 4 , for your information in reviewing Accumulation Unit information.

The following fund mergers are effective April 2 7 , 201 5 :

JNL Variable Fund LLC
JNL/Mellon Capital Value Line® 30 Fund merged into JNL/Mellon Capital S&P® 24 Fund
JNL/Mellon Capital JNL Optimized 5 Fund merged into JNL/Mellon Capital JNL 5 Fund

Effective April 2 7 , 201 5 , the Separate Account has the following new Investment Division, for which no Accumulation Unit information is yet available:

JNL Investors Series Trust
JNL/PPM America Total Return Fund

G-1
Accumulation Unit Values
    
Base Contract with $1 Million Premium Administrative Fee Waiver - 1.10%
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.67
$9.51
  End of period
$12.12
$11.67
 Accumulation units outstanding at the end of period
97,784
62,504
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.82
$11.07
  End of period
$13.36
$12.82
 Accumulation units outstanding at the end of period
453,527
342,880
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.46
$10.27
  End of period
$12.94
$12.46
 Accumulation units outstanding at the end of period
40,576
40,576
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.85
$14.96
  End of period
$17.03
$16.85
 Accumulation units outstanding at the end of period
173,493
257,782
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.31
$15.56
  End of period
$17.44
$17.31
 Accumulation units outstanding at the end of period
51,862
94,777
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.27
$15.82
  End of period
$17.40
$17.27
 Accumulation units outstanding at the end of period
335,867
376,477
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.79
$10.34
  End of period
$12.16
$11.79
 Accumulation units outstanding at the end of period
59,442
71,471
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.80
$11.30
  End of period
$16.84
$14.80
 Accumulation units outstanding at the end of period
284,824
209,522
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.75
$11.20
  End of period
$10.75
$10.75
 Accumulation units outstanding at the end of period
70,245
22,525
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$13.01
$10.29
  End of period
$13.10
$13.01
 Accumulation units outstanding at the end of period
43,819
29,209
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.39
$10.36
  End of period
$12.75
$12.39
 Accumulation units outstanding at the end of period
222,085
183,586
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$15.24
$12.88
  End of period
$16.61
$15.24
 Accumulation units outstanding at the end of period
423,009
372,270
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.69
$12.10
  End of period
$12.17
$12.69
 Accumulation units outstanding at the end of period
146,791
142,683
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$12.17
$11.10
  End of period
$11.05
$12.17
 Accumulation units outstanding at the end of period
179,077
137,135
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$11.31
$10.86
  End of period
$9.59
$11.31
 Accumulation units outstanding at the end of period
154,317
141,988
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.04
$10.65
  End of period
$12.12
$12.04
 Accumulation units outstanding at the end of period
766,131
687,695
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$40.69
$29.60
  End of period
$43.82
$40.69
 Accumulation units outstanding at the end of period
6,431
4,014
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.84
$12.15
  End of period
$15.75
$14.84
 Accumulation units outstanding at the end of period
93,417
54,498
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$14.69
$12.85
  End of period
$14.60
$14.69
 Accumulation units outstanding at the end of period
22,852
21,854
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$36.89
$30.27
  End of period
$37.34
$36.89
 Accumulation units outstanding at the end of period
31,252
14,726
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$25.93
$21.25
  End of period
$28.16
$25.93
 Accumulation units outstanding at the end of period
23,216
23,905
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$41.27
$31.98
  End of period
$41.96
$41.27
 Accumulation units outstanding at the end of period
64,992
67,371
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.41
$8.96
  End of period
$8.78
$8.41
 Accumulation units outstanding at the end of period
7,409
7,517
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$7.33
$7.07
  End of period
$8.08
$7.33
 Accumulation units outstanding at the end of period
32,853
24,793
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$12.16
$9.92
  End of period
$12.35
$12.16
 Accumulation units outstanding at the end of period
176,978
113,088
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.59
$8.99
  End of period
$11.19
$11.59
 Accumulation units outstanding at the end of period
91,019
57,090
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$12.00
$11.72
  End of period
$11.82
$12.00
 Accumulation units outstanding at the end of period
133,911
128,008
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.18
$13.03
  End of period
$14.47
$14.18
 Accumulation units outstanding at the end of period
157,704
96,869
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$11.29
$9.43
  End of period
$10.12
$11.29
 Accumulation units outstanding at the end of period
139,582
88,058
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.79
$9.30
  End of period
$12.52
$11.79
 Accumulation units outstanding at the end of period
88,712
44,745
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$19.30
$16.14
  End of period
$19.12
$19.30
 Accumulation units outstanding at the end of period
60,785
50,894
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$26.35
$26.93
  End of period
$27.47
$26.35
 Accumulation units outstanding at the end of period
73,211
32,620
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$19.02
$14.49
  End of period
$21.28
$19.02
 Accumulation units outstanding at the end of period
44,569
22,672
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$12.19
$9.19
  End of period
$13.74
$12.19
 Accumulation units outstanding at the end of period
30,624
15,222
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$15.21
$14.97
  End of period
$17.30
$15.21
 Accumulation units outstanding at the end of period
156,197
143,932
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$21.82
$19.47
  End of period
$21.63
$21.82
 Accumulation units outstanding at the end of period
119,582
109,917
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.25
$13.22
  End of period
$19.56
$18.25
 Accumulation units outstanding at the end of period
117,742
98,019
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$27.01
$20.86
  End of period
$29.19
$27.01
 Accumulation units outstanding at the end of period
30,583
25,930
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$25.07
$19.53
  End of period
$26.78
$25.07
 Accumulation units outstanding at the end of period
47,116
20,627
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.63
$11.96
  End of period
$13.89
$14.63
 Accumulation units outstanding at the end of period
502,015
510,835
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$16.34
$13.60
  End of period
$14.46
$16.34
 Accumulation units outstanding at the end of period
117,827
110,522
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$38.98
$29.71
  End of period
$42.87
$38.98
 Accumulation units outstanding at the end of period
34,470
30,084
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$21.27
$22.29
  End of period
$22.18
$21.27
 Accumulation units outstanding at the end of period
70,994
55,926
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Mellon Capital (MC) 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$24.99
$18.46
  End of period
$25.23
$24.99
 Accumulation units outstanding at the end of period
33,879
25,559
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$14.30
$14.91
  End of period
$14.94
$14.30
 Accumulation units outstanding at the end of period
67,739
35,122
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$7.89
$7.64
  End of period
$8.24
$7.89
 Accumulation units outstanding at the end of period
36,105
30,145
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$21.37
$18.42
  End of period
$23.42
$21.37
 Accumulation units outstanding at the end of period
11,732
13,952
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.62
$11.33
  End of period
$15.88
$14.62
 Accumulation units outstanding at the end of period
22,945
45,157
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.96
N/A
  End of period
$14.73
N/A
 Accumulation units outstanding at the end of period
2,921
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.97
$10.36
  End of period
$9.50
$9.97
 Accumulation units outstanding at the end of period
186,122
141,563
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.42
$14.50
  End of period
$14.73
$15.42
 Accumulation units outstanding at the end of period
26,208
26,874
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$11.34
N/A
  End of period
$12.68
N/A
 Accumulation units outstanding at the end of period
32,117
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.45
$16.47
  End of period
$20.23
$18.45
 Accumulation units outstanding at the end of period
9,439
3,169
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$21.87
$15.70
  End of period
$27.07
$21.87
 Accumulation units outstanding at the end of period
73,628
55,068
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$19.34
$17.84
  End of period
$17.97
$19.34
 Accumulation units outstanding at the end of period
150,574
105,827
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.77
$12.88
  End of period
$18.46
$16.77
 Accumulation units outstanding at the end of period
22,258
22,997
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.02
N/A
  End of period
$13.77
N/A
 Accumulation units outstanding at the end of period
16,764
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$19.19
$15.20
  End of period
$22.48
$19.19
 Accumulation units outstanding at the end of period
45,328
32,568
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$43.10
$34.77
  End of period
$38.21
$43.10
 Accumulation units outstanding at the end of period
33,142
30,146
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.60
$11.23
  End of period
$16.23
$15.60
 Accumulation units outstanding at the end of period
36,533
12,540
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$25.66
$21.00
  End of period
$27.72
$25.66
 Accumulation units outstanding at the end of period
89,232
72,655
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$16.77
$12.88
  End of period
$18.75
$16.77
 Accumulation units outstanding at the end of period
516,887
436,282
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.25
N/A
  End of period
$16.63
N/A
 Accumulation units outstanding at the end of period
37,904
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$23.20
$18.12
  End of period
$24.02
$23.20
 Accumulation units outstanding at the end of period
186,178
138,782
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.86
$8.48
  End of period
$11.76
$9.86
 Accumulation units outstanding at the end of period
191,676
118,535
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.96
$9.52
  End of period
$12.77
$12.96
 Accumulation units outstanding at the end of period
30,616
28,709
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.34
$10.46
  End of period
$10.73
$10.34
 Accumulation units outstanding at the end of period
49,559
36,171
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.51
$15.63
  End of period
$19.67
$19.51
 Accumulation units outstanding at the end of period
58,132
63,281
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.75
$15.30
  End of period
$14.05
$13.75
 Accumulation units outstanding at the end of period
104,815
73,942
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$20.47
$21.14
  End of period
$21.05
$20.47
 Accumulation units outstanding at the end of period
302,839
305,807
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.96
$10.62
  End of period
$10.86
$10.96
 Accumulation units outstanding at the end of period
98,335
55,758
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$20.81
$19.45
  End of period
$20.61
$20.81
 Accumulation units outstanding at the end of period
168,012
132,343
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$15.54
$12.64
  End of period
$16.98
$15.54
 Accumulation units outstanding at the end of period
12,299
17,980
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$15.34
$11.29
  End of period
$16.06
$15.34
 Accumulation units outstanding at the end of period
41,344
20,157
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$28.49
$20.54
  End of period
$31.70
$28.49
 Accumulation units outstanding at the end of period
7,344
5,830
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.12
$14.32
  End of period
$20.50
$18.12
 Accumulation units outstanding at the end of period
230,996
223,229
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$19.62
$13.87
  End of period
$21.35
$19.62
 Accumulation units outstanding at the end of period
39,155
43,508
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.40
$12.68
  End of period
$18.44
$16.40
 Accumulation units outstanding at the end of period
162,929
137,685
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$19.49
$13.14
  End of period
$22.75
$19.49
 Accumulation units outstanding at the end of period
54,472
13,450
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$20.77
$16.69
  End of period
$21.89
$20.77
 Accumulation units outstanding at the end of period
191,881
201,957
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$13.87
$13.42
  End of period
$14.15
$13.87
 Accumulation units outstanding at the end of period
233,370
277,997
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$20.94
$17.27
  End of period
$21.88
$20.94
 Accumulation units outstanding at the end of period
504,611
494,685
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$15.27
$13.98
  End of period
$15.70
$15.27
 Accumulation units outstanding at the end of period
405,483
386,060
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.91
$17.38
  End of period
$20.58
$19.91
 Accumulation units outstanding at the end of period
759,385
938,100
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$16.67
$11.11
  End of period
$19.10
$16.67
 Accumulation units outstanding at the end of period
41,558
25,057
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$49.79
$37.90
  End of period
$53.54
$49.79
 Accumulation units outstanding at the end of period
93,404
68,645
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$75.89
$56.21
  End of period
$84.69
$75.89
 Accumulation units outstanding at the end of period
60,866
48,258
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.76
$10.87
  End of period
$10.68
$10.76
 Accumulation units outstanding at the end of period
131,360
123,012
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$23.64
$17.43
  End of period
$26.48
$23.64
 Accumulation units outstanding at the end of period
194,469
116,141
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$39.40
$36.42
  End of period
$42.81
$39.40
 Accumulation units outstanding at the end of period
176,351
196,903
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$13.12
$13.27
  End of period
$12.98
$13.12
 Accumulation units outstanding at the end of period
18,510
8,723
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$29.68
$22.90
  End of period
$32.68
$29.68
 Accumulation units outstanding at the end of period
28,852
22,137
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.545%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$10.03
$10.29
  End of period
$9.78
$10.03
 Accumulation units outstanding at the end of period
2,443
27,694
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
G-2
 
 
Questions:  If you have any questions about your Contract, you may contact us at:
 
 
Annuity Service Center:
1 (800) 644-4565 (8 a.m. - 8 p.m. ET)
       
   
Mail Address:
P.O. Box 30314, Lansing, Michigan 48909-7814
       
   
Delivery Address:
1 Corporate Way, Lansing, Michigan 48951
     
 
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 30386, Lansing, Michigan 48909-7886
       
   
Delivery Address:
1 Corporate Way, Lansing, Michigan 48951
Attn:  IMG
     
 
Home Office:
1 Corporate Way, Lansing, Michigan 48951
 
 
 
 

STATEMENT OF ADDITIONAL INFORMATION



April 2 7 , 201 5



PERSPECTIVE II®
FLEXIBLE PREMIUM FIXED AND VARIABLE DEFERRED ANNUITY
(Contracts offered for sale between April 30, 2012 and September 10, 2012)

Issued by
Jackson National Life Insurance Company® and through
Jackson National Separate Account – I



This Statement of Additional Information (SAI) is not a prospectus.  It contains information in addition to and more detailed than set forth in the Prospectus and should be read in conjunction with the Prospectus dated April 2 7 , 201 5 .  The Prospectus may be obtained from Jackson National Life Insurance Company by writing P.O. Box 30314, Lansing, Michigan 48909-7814, or calling 1-800-644-4565.


TABLE OF CONTENTS

 
Page
 
General Information and History
 
2
 
Services
 
9
 
Purchase of Securities Being Offered
 
10
 
Underwriters
 
10
 
Calculation of Performance
 
10
 
Additional Tax Information
 
12
 
Annuity Provisions
 
22
 
Net Investment Factor
 
23
 
Condensed Financial Information
 
23
 
Financial Statements of the Separate Account
 
Appendix A
 
Financial Statements of Jackson
 
Appendix B

General Information and History

Jackson National Separate Account - I (Separate Account) is a separate investment account of Jackson National Life Insurance Company (Jackson®).  Jackson is a wholly owned subsidiary of Brooke Life Insurance Company and is ultimately a wholly owned subsidiary of Prudential plc, London, England, a publicly traded life insurance company in the United Kingdom.

Trademarks, Service Marks, and Related Disclosures

The "S&P 500 Index," "S&P MidCap 400 Index," "S&P SmallCap 600 Index," "Dow Jones U.S. Contrarian Opportunities," "Dow Jones Industrial Average," and "The Dow 10," "Dow Jones Brookfield Global Infrastructure Index," "STANDARD & POOR'S®," "S&P®," "S&P 500®," "S&P MIDCAP 400 Index®," "STANDARD & POOR'S MIDCAP 400 Index®," "S&P SmallCap 600 Index®" and "STANDARD & POOR'S 500®" (collectively, the "Indices") are products of S&P Dow Jones Indices LLC or its affiliates ("SPDJI"), and has been licensed for use by Jackson National Life Insurance Company ("Jackson").  "Dow Jones®", "Dow Jones Industrial Average", "DJIA®", "The Dow®" and "The Dow 10" are service and/or trademarks of Dow Jones Trademark Holdings, LLC ("Dow Jones") and have been licensed to SPDJI and have been sub-licensed for use for certain purposes by Jackson National Life Insurance Company® ("Jackson").

The Dow Jones Brookfield Global Infrastructure Index is calculated by SPDJI pursuant to an agreement with Brookfield Redding, Inc. (together with its affiliates, "Brookfield") and has been licensed for use. Standard & Poor's®, S&P® and S&P 500®, S&P MidCap 400® and S&P SmallCap 600® are registered trademarks of Standard & Poor's Financial Services LLC; Dow Jones U.S. Contrarian Opportunities Index is a service mark of Dow Jones; Brookfield® is a registered trademark of Brookfield Asset Management , Inc.; and the foregoing trademarks have been licensed by SPDJI for use.

The JNL/Mellon Capital S&P® SMid 60 Fund, JNL/Mellon Capital JNL 5 Fund, and the JNL/Mellon Capital S&P® 24 Fund, JNL/Mellon Capital S&P 500 Index Fund, JNL/Mellon S&P 400 MidCap Index Fund, JNL/Mellon Capital Dow Jones U.S. Contrarian Opportunities Index Fund, the JNL/Mellon Capital DowSM 10 Fund, and the JNL/Brookfield Global Infrastructure and MLP Fund (collectively, the "Products") are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, Standard & Poor's Financial Services LLC, Brookfield or any of their respective affiliates (collectively, "S&P Dow Jones Indices").

S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Products or any member of the public regarding the advisability of investing in securities generally or in the Products particularly or the ability of the Indices to track general market performance.  S&P Dow Jones Indices' only relationship to Jackson with respect to the Indices or the Products is the licensing of the Indices and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors.  The Indices are determined, composed and calculated by S&P Dow Jones Indices without regard to Jackson or the Products.  S&P Dow Jones Indices have no obligation to take the needs of Jackson or the owners of the Products into consideration in determining, composing or calculating the Indices.  S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of the Products or the timing of the issuance or sale of the Products in the determination or calculation of the equation by which the Products are to be converted into cash, surrendered or redeemed, as the case may be.  S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing or trading of the Products. There is no assurance that investment products based on the Indices will accurately track index performance or provide positive investment returns.  S&P Dow Jones Indices LLC is not an investment advisor.  Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

S&P DOW JONES INDICES DO NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO.  S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS IN CALCULATING THE INDICES.  S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY JACKSON OR OWNERS OF THE PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR WITH RESPECT TO ANY DATA RELATED THERETO.  WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE.  THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND JACKSON, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

SPDR® is a registered trademark of Standard & Poor's Financial Services LLC.  S&P Capital IQ is a trademark of Standard Financial Services LLC.

The following applies to the JNL/S&P Managed Growth Fund, JNL/S&P Managed Conservative Fund, JNL/S&P Managed Moderate Growth Fund, JNL/S&P Managed Moderate Fund, and JNL/S&P Managed Aggressive Growth Fund, JNL/S&P Competitive Advantage Fund, JNL/S&P Dividend Income & Growth Fund, JNL/S&P Total Yield Fund, JNL/S&P Intrinsic Value Fund, JNL /S&P Mid 3 Fund and JNL/S&P 4 Fund .

Standard & Poor's Investment Advisory Services LLC ("SPIAS") is a registered investment advisor with the U.S. Securities and Exchange Commission and a wholly owned subsidiary of McGraw-Hill Financial, Inc. SPIAS does not provide advice to underlying clients of the firms to which it provides services. SPIAS does not act as a "fiduciary" or as an "investment manager," as defined under ERISA, to any investor. SPIAS is not responsible for client suitability.

Programs and products of the firms to which SPIAS provides services are not endorsed, sold or promoted by SPIAS and its affiliates, and SPIAS and its affiliates make no representation regarding the advisability of investing in those programs and products. With respect to the asset allocations and investments recommended by SPIAS, investors should realize that such investment recommendations are provided to Jackson National Asset Management, LLC only as a general recommendation. The underlying funds of the JNL/S&P 4 Fund are co-sub-advised by SPIAS. SPIAS does not co-sub-advise the JNL/S&P 4 Fund. There is no agreement or understanding whatsoever that SPIAS will provide individualized advice to any investor. SPIAS does not take into account any information about any investor or any investor's assets when providing investment advisory services to firms to which SPIAS provides services. SPIAS does not have any discretionary authority or control with respect to purchasing or selling securities or making other investments. Individual investors should ultimately rely on their own judgment and/or the judgment of a representative in making their investment decisions.

Standard & Poor's  Financial Services LLC, SPIAS, and their affiliates (collectively S&P), and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively with S&P,  S&P Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and valuations, and are not responsible for errors and omissions, or for the results obtained from the use of such information, and S&P Parties shall have no liability for any errors, omission, or interruptions therein (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such information. S&P PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

S&P's credit ratings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions.  S&P credit ratings should not be relied on when making any investment or other business decision.  S&P's opinions and analyses do not address the suitability of any security.  S&P does not act as a fiduciary or an investment advisor, except where registered as such. While S&P has obtained information from sources they believe to be reliable, S&P does not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives.

To the extent that regulatory authorities allow a rating agency to acknowledge in one jurisdiction a rating issued in another jurisdiction for certain regulatory purposes, S&P reserves the right to assign, withdraw or suspend such acknowledgement at any time and in its sole discretion. S&P Parties disclaim any duty whatsoever arising out of the assignment, withdrawal or suspension of an acknowledgment as well as any liability for any damage alleged to have been suffered on account thereof.

S&P keeps certain activities of its business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain business units of S&P may have information that is not available to other S&P business units. S&P has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process.

S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S&P reserves the right to disseminate its opinions and analyses. S&P's public ratings and analyses are made available on its Web sites, www.standardandpoors.com (free of charge), and www.ratingsdirect.com and www.globalcreditportal.com (subscription), and may be distributed through other means, including via S&P publications and third party redistributors. Additional information about our ratings fees is available at www.standardandpoors.com/usratingsfees.

Based on a universe of funds provided to SPIAS, SPIAS may recommend for investment certain funds to which S&P licenses certain intellectual property or otherwise has a financial interest, including exchange-traded funds whose investment objective is to substantially replicate the returns of a proprietary index of S&P Dow Jones Indices, such as the S&P 500. SPIAS recommends these funds for investment based on asset allocation, sector representation, liquidity and other factors; however, SPIAS has a potential conflict of interest with respect to the inclusion of these funds.  In cases where S&P is paid fees that are tied to the amount of assets that are invested in the fund, investment in the fund will generally result in S&P earning compensation in addition to the fees received by SPIAS in connection with its provision of services.  In certain cases there may be alternative funds that are available for investment that will provide investors substantially similar exposure to the asset class or sector.

S&P provides a wide range of services to, or relating to, many organizations, including issuers of securities, investment advisers, broker-dealers, investment banks, other financial institutions and financial intermediaries, and accordingly may receive fees or other economic benefits from those organizations, including organizations whose securities or services they may recommend, rate, include in model portfolios, evaluate or otherwise address.

SPIAS may consider research and other information from affiliates in making its investment recommendations. The investment policies of certain portfolios specifically state that among the information SPIAS will consider in evaluating a security are the credit ratings assigned by S&P.  SPIAS does not consider the ratings assigned by other credit rating agencies. Credit rating criteria and scales may differ among credit rating agencies. Ratings assigned by other credit rating agencies may reflect more or less favorable opinions of creditworthiness than ratings assigned by S&P.

The Funds are not sponsored, endorsed, sold or promoted by S&P and its affiliates and S&P and its affiliates make no representation regarding the advisability of investing in the Funds.

Goldman Sachs is a registered service mark of Goldman, Sachs & Co.

The Product(s) is not sponsored, endorsed, sold or promoted by The Nasdaq Stock Market, Inc. (including its affiliates) (Nasdaq, with its affiliates, are referred to as the Corporations).  The Corporations have not passed on the legality or suitability of or the accuracy or adequacy of descriptions and disclosures relating to the Product(s).  The Corporations make no representation or warranty, express or implied to the Owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Nasdaq-100 Index® to track general stock market performance.  The Corporations' only relationship to Jackson (Licensee) is in the licensing of the Nasdaq-100®, Nasdaq-100 Index® and Nasdaq® trademarks or service marks, and certain trade names of the Corporations and the use of the Nasdaq-100 Index® which is determined, composed and calculated by Nasdaq without regard to Licensee or the Product(s).  Nasdaq has no obligation to take the needs of the Licensee or the Owners of the Product(s) into consideration in determining, composing or calculating the Nasdaq-100 Index®.  The Corporations are not responsible for and have not participated in the determination of the timing of, prices at or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash.  The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

The Corporations do not guarantee the accuracy and/or uninterrupted calculation of the Nasdaq-100 index® or any data included therein.  The Corporations make no warranty, express or implied, as to results to be obtained by Licensee, Owners of the product(s) or any other person or entity from the use of the Nasdaq-100 Index® or any data included therein.  The Corporations make no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the Nasdaq-100 Index® or any data included therein.  Without limiting any of the foregoing, in no event shall the Corporations have any liability for any lost profits or special, incidental, punitive, indirect or consequential damages, even if notified of the possibility of such damages.

 "The Nasdaq-100®," "Nasdaq-100 Index®," "Nasdaq Stock Market®" and "Nasdaq®" are trade or service marks of The Nasdaq, Inc. (which with its affiliates are the "Corporations") and have been licensed for use by Jackson.  The Corporations have not passed on the legality or suitability of the JNL/Mellon Capital Nasdaq®25 Fund.  The JNL/Mellon Capital Nasdaq® 25 Fund is not issued, endorsed, sponsored, managed, sold or promoted by the Corporations.  THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE JNL/MELLON CAPITAL NASDAQ® 25 FUND.
Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes.  Russell is a trademark of Russell Investment Group.
 
JNL/Mellon Capital Small Cap Index Fund is not promoted, sponsored or endorsed by, nor in any way affiliated with Russell Investment Group ("Russell").  Russell is not responsible for and has not reviewed JNL/Mellon Capital Small Cap Index Fund nor any associated literature or publications and Russell makes no representation or warranty, express or implied, as to their accuracy, or completeness, or otherwise.
 
Russell reserves the right, at any time and without notice, to alter, amend, terminate or in any way change the Russell Indexes.  Russell has no obligation to take the needs of any particular fund or its participants or any other product or person into consideration in determining, composing or calculating any of the Russell Indexes.
 
Russell's publication of the Russell Indexes in no way suggests or implies an opinion by Russell as to the attractiveness or appropriateness of investment in any or all securities upon which the Russell Indexes are based.  RUSSELL MAKES NO REPRESENTATION, WARRANTY, OR GUARANTEE AS TO THE ACCURACY COMPLETENESS, RELIABILITY, OR OTHERWISE OF THE RUSSELL INDEXES.  RUSSELL MAKES NO REPRESENTATION, WARRANTY OR GUARANTEE REGARDING THE USE, OR THE RESULTS OF USE, OF THE RUSSELL INDEXES OR ANY DATA INCLUDED THEREIN, OR ANY SECURITY (OR COMBINATION THEREOF) COMPRISING THE RUSSELL INDEXES.  RUSSELL MAKES NO OTHER EXPRESS OR IMPLIED WARRANTY, AND EXPRESSLY DISCLAIMS ANY WARRANTY, OF ANY KIND, INCLUDING WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE RUSSELL INDEX(ES) OR ANY DATA OR ANY SECURITY (OR COMBINATION THEREOF) INCLUDED THEREIN.



THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND ARE NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY MSCI INC. ("MSCI"), ANY OF ITS AFFILIATES, ANY OF ITS INFORMATION PROVIDERS OR ANY OTHER THIRD PARTY INVOLVED IN, OR RELATED TO, COMPILING, COMPUTING OR CREATING ANY MSCI INDEX (COLLECTIVELY, THE "MSCI PARTIES").  THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI.  MSCI AND THE MSCI INDEX NAMES ARE SERVICE MARK(S) OF MSCI OR ITS AFFILIATES AND HAVE BEEN LICENSED FOR USE FOR CERTAIN PURPOSES BY JACKSON NATIONAL ASSET MANAGEMENT, LLC.  NONE OF THE MSCI PARTIES MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, TO THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY REGARDING THE ADVISABILITY OF INVESTING IN FUNDS GENERALLY OR IN THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND OR THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND PARTICULARLY OR THE ABILITY OF ANY MSCI INDEX TO TRACK CORRESPONDING STOCK MARKET PERFORMANCE.  MSCI OR ITS AFFILIATES ARE THE LICENSORS OF CERTAIN TRADEMARKS, SERVICE MARKS AND TRADE NAMES AND OF THE MSCI INDEXES WHICH ARE DETERMINED, COMPOSED AND CALCULATED BY MSCI WITHOUT REGARD TO THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND OR THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, ANY OTHER PERSON OR ENTITY, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND.  NONE OF THE MSCI PARTIES HAS ANY OBLIGATION TO TAKE THE NEEDS OF THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY INTO CONSIDERATION IN DETERMINING, COMPOSING OR CALCULATING THE MSCI INDEXES.  NONE OF THE MSCI PARTIES IS RESPONSIBLE FOR OR HAS PARTICIPATED IN THE DETERMINATION OF THE TIMING OF, PRICES AT, OR QUANTITIES OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND TO BE ISSUED OR IN THE DETERMINATION OR CALCULATION OF THE EQUATION BY OR THE CONSIDERATION INTO WHICH THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND IS REDEEMABLE.  FURTHER, NONE OF THE MSCI PARTIES HAS ANY OBLIGATION OR LIABILITY TO THE ISSUER OR OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND OR ANY OTHER PERSON OR ENTITY IN CONNECTION WITH THE ADMINISTRATION, MARKETING OR OFFERING OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND.
 
ALTHOUGH MSCI SHALL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE IN THE CALCULATION OF THE MSCI INDEXES FROM SOURCES THAT MSCI CONSIDERS RELIABLE, NONE OF THE MSCI PARTIES WARRANTS OR GUARANTEES THE ORIGINALITY, ACCURACY AND/OR THE COMPLETENESS OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN.  NONE OF THE MSCI PARTIES MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ISSUER OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND, OWNERS OF THE JNL/MELLON CAPITAL INTERNATIONAL INDEX FUND, THE JNL/MELLON CAPITAL EMERGING MARKETS INDEX FUND, THE JNL/MELLON CAPITAL COMMUNICATIONS SECTOR FUND, THE JNL/MELLON CAPITAL CONSUMER BRANDS SECTOR FUND, THE JNL/MELLON CAPITAL FINANCIAL SECTOR FUND, THE JNL/MELLON CAPITAL HEALTHCARE SECTOR FUND, THE JNL/MELLON CAPITAL OIL & GAS SECTOR FUND OR THE JNL/MELLON CAPITAL TECHNOLOGY SECTOR FUND, OR ANY OTHER PERSON OR ENTITY, FROM THE USE OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN.  NONE OF THE MSCI PARTIES SHALL HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS OF OR IN CONNECTION WITH ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. FURTHER, NONE OF THE MSCI PARTIES MAKES ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND, AND THE MSCI PARTIES HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO EACH MSCI INDEX AND ANY DATA INCLUDED THEREIN.  WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
 
Services

Jackson keeps the assets of the Separate Account.  Jackson holds all cash of the Separate Account and attends to the collection of proceeds of shares of the underlying Funds bought and sold by the Separate Account.

The financial statements of Jackson National Separate Account - I and Jackson National Life Insurance Company for the periods indicated have been included herein in reliance upon the reports of KPMG LLP, an independent registered public accounting firm, appearing elsewhere herein, and upon the authority of said firm as experts in accounting and auditing.  KPMG LLP is located at Aon Center, 200 East Randolph Drive, Suite 5500, Chicago, Illinois 60601.

Jackson is the parent of Jackson National Asset Management, LLC ("JNAM"), the Funds' investment adviser and administrator.  Pursuant to an agreement between Jackson and JNAM, JNAM provides certain administrative services with respect to the Separate Account, including separate account administration services and financial and accounting services.  For the past three years, Jackson paid $450,000 in 2012, $520,500 in 2013 , and $391,000 in 2014 for the services provided by JNAM to Jackson.

Purchase of Securities Being Offered

The Contracts will be sold by licensed insurance agents in states where the Contracts may be lawfully sold.  The agents will be registered representatives of broker-dealers that are registered under the Securities Exchange Act of 1934 and members of the Financial Industry Regulatory Authority (FINRA).

Underwriters

The Contracts are offered continuously and are distributed by Jackson National Life Distributors LLC (JNLD), 7601 Technology Way, Denver, Colorado 80237.  JNLD is a subsidiary of Jackson.

For Perspective II® contracts, the aggregate amount of commissions paid to broker/dealers was $728,658,372 in 2012 ,  $716,913,859 in 2013 , and $755,244,986 in 2014 .  JNLD did not retain any portion of the commissions.

Calculation of Performance

When Jackson advertises performance for an Investment Division (except the JNL/WMC Money Market  Division), we will include quotations of standardized average annual total return to facilitate comparison with standardized average annual total return advertised by other variable annuity separate accounts.  Standardized average annual total return for an Investment Division will be shown for periods beginning on the date the Investment Division first invested in the corresponding Funds.  We will calculate standardized average annual total return according to the standard methods prescribed by rules of the Securities and Exchange Commission.

Standardized average annual total return for a specific period is calculated by taking a hypothetical $1,000 investment in an Investment Division at the offering on the first day of the period ("initial investment") and computing the average annual compounded rate of return for the period that would equate the initial investment with the ending redeemable value ("redeemable value") of that investment at the end of the period, carried to at least the nearest hundredth of a percent.  Standardized average annual total return reflects the deduction of all recurring charges that are charged to all Contracts.  The redeemable value also reflects the effect of any applicable withdrawal charge or other charge that may be imposed at the end of the period.  No deduction is made for premium taxes that may be assessed by certain states.

Jackson may also advertise non-standardized total return on an annualized and cumulative basis.  Non-standardized total return may be for periods other than those required to be presented or may otherwise differ from standardized average annual total return.  The Contract is designed for long-term investment; therefore, Jackson believes that non-standardized total return that does not reflect the deduction of any applicable withdrawal charge may be useful to investors.  Reflecting the deduction of the withdrawal charge decreases the level of performance advertised. Non-standardized total return may also assume a larger initial investment that more closely approximates the size of a typical Contract.

Standardized average annual total return quotations will be current to the last day of the calendar quarter preceding the date on which an advertisement is submitted for publication.  Both standardized average annual total return quotations and non-standardized total return quotations will be based on rolling calendar quarters and will cover at least periods of one, five, and ten years, or a period covering the time the Investment Division has been in existence, if it has not been in existence for one of the prescribed periods.

Quotations of standardized average annual total return and non-standardized total return are based upon historical earnings and will fluctuate.  Any quotation of performance should not be considered a guarantee of future performance.  Factors affecting the performance of an Investment Division and its corresponding Fund include general market conditions, operating expenses and investment management.  An owner's withdrawal value upon surrender of a Contract may be more or less than its original cost.

Jackson may advertise the current annualized yield for a 30-day period for an Investment Division.  The annualized yield of an Investment Division refers to the income generated by the Investment Division over a specified 30-day period.  Because this yield is annualized, the yield generated by an Investment Division during the 30-day period is assumed to be generated each 30-day period.  The yield is computed by dividing the net investment income per accumulation unit earned during the period by the price per unit on the last day of the period, according to the following formula:

            

Where:

a
=
net investment income earned during the period by the Fund attributable to shares owned by the Investment Division.
b
=
expenses for the Investment Division accrued for the period (net of reimbursements).
c
=
the average daily number of accumulation units outstanding during the period.
d
=
the maximum offering price per accumulation unit on the last day of the period.

The maximum withdrawal charge is 8.5%.

Net investment income will be determined in accordance with rules established by the Securities and Exchange Commission.  Accrued expenses will include all recurring fees that are charged to all Contracts.

Because of the charges and deductions imposed by the Separate Account, the yield for an Investment Division will be lower than the yield for the corresponding Funds.  The yield on amounts held in the Investment Division normally will fluctuate over time.  Therefore, the disclosed yield for any given period is not an indication or representation of future yields or rates of return.  An Investment Division's actual yield will be affected by the types and quality of portfolio securities held by the Fund and the Fund operating expenses.

Any current yield quotations of the JNL/WMC Money Market Division will consist of a seven calendar day historical yield, carried at least to the nearest hundredth of a percent.  We may advertise yield for the Division based on different time periods, but we will accompany it with a yield quotation based on a seven calendar day period.  The JNL/WMC Money Market Division's yield will be calculated by determining the net change, exclusive of capital changes, in the value of a hypothetical pre-existing account having a balance of one accumulation unit at the beginning of the base period, subtracting a hypothetical charge reflecting deductions from Contracts, and dividing the net change in account value by the value of the account at the beginning of the period to obtain a base period return and multiplying the base period return by (365/7).  The JNL/WMC Money Market Division's effective yield is computed similarly but includes the effect of assumed compounding on an annualized basis of the current yield quotations of the Division.

The JNL/WMC Money Market Division's and effective yield will fluctuate daily.  Actual yields will depend on factors such as the type of instruments in the Fund's portfolio, portfolio quality and average maturity, changes in interest rates, and the Fund's expenses. Although the Investment Division determines its yield on the basis of a seven calendar day period, it may use a different time period on occasion.  The yield quotes may reflect the expense limitations described in the Fund's Prospectus or Statement of Additional Information.  There is no assurance that the yields quoted on any given occasion will be maintained for any period of time and there is no guarantee that the net asset values will remain constant.  It should be noted that neither a Contract owner's investment in the JNL/WMC Money Market Division nor that Division's investment in the JNL/WMC Money Market Division is guaranteed or insured.  Yields of other money market Funds may not be comparable if a different base or another method of calculation is used.

Additional Tax Information

NOTE: INFORMATION CONTAINED HEREIN SHOULD NOT BE SUBSTITUTED FOR THE ADVICE OF A PERSONAL TAX ADVISER.  JACKSON DOES NOT MAKE ANY GUARANTEE REGARDING THE TAX STATUS OF ANY CONTRACT OR ANY TRANSACTION INVOLVING THE CONTRACTS.  PURCHASERS BEAR THE COMPLETE RISK THAT THE CONTRACTS MAY NOT BE TREATED AS "ANNUITY CONTRACTS" UNDER FEDERAL INCOME TAX LAWS. IT SHOULD BE FURTHER UNDERSTOOD THAT THE FOLLOWING DISCUSSION IS NOT EXHAUSTIVE AND THAT OTHER SPECIAL RULES MAY BE APPLICABLE IN CERTAIN SITUATIONS.  MOREOVER, NO ATTEMPT HAS BEEN MADE TO CONSIDER ANY APPLICABLE STATE OR OTHER TAX LAWS OR TO COMPARE THE TAX TREATMENT OF THE CONTRACTS TO THE TAX TREATMENT OF ANY OTHER INVESTMENT.

Jackson's Tax Status

Jackson is taxed as a life insurance company under the Internal Revenue Code of 1986, as amended (the "Code").  For federal income tax purposes, the Separate Account is not a separate entity from Jackson and its operations form a part of Jackson.

Taxation of Annuity Contracts in General

Section 72 of the Code governs the taxation of annuities in general.  An individual owner is not taxed on increases in the value of a Contract until distribution occurs, either in the form of a withdrawal or as annuity payments under the annuity option elected.  For a withdrawal received as a total surrender (total redemption or a death benefit), the recipient is taxed on the portion of the payment that exceeds the cost basis of the Contract.  For a payment received as a partial withdrawal from a non-qualified Contract, federal tax liability is generally determined on a last-in, first-out basis, meaning taxable income is withdrawn before the cost basis of the Contract is withdrawn. In the case of a partial withdrawal under a tax-qualified Contract, a ratable portion of the amount received is taxable. For Contracts issued in connection with non-qualified plans, the cost basis is generally the premiums, while for Contracts issued in connection with tax-qualified plans there may be no cost basis.  The taxable portion of a withdrawal is taxed at ordinary income tax rates.  Tax penalties may also apply.

For annuity payments, a portion of each payment in excess of an exclusion amount is includable in taxable income.  All annuity payments in excess of the exclusion amount are fully taxable at ordinary income rates.

The exclusion amount for payments based on a fixed annuity option is determined by multiplying the payment by the ratio that the cost basis of the Contract (adjusted for any period certain or refund feature) bears to the expected return under the Contract.  The exclusion amount for payments based on a variable annuity option is determined by dividing the cost basis of the Contract (adjusted for any period certain or refund guarantee) by the fixed or estimated number of years for which annuity payments are to be made.  No exclusion is allowed with respect to any payments received after the investment in the Contract has been recovered (i.e., when the total of the excludable amounts equals the investment in the Contract).  For certain types of tax-qualified plans there may be no cost basis in the Contract within the meaning of Section 72 of the Code.

Owners, annuitants and beneficiaries under the Contracts should seek competent financial advice about the tax consequences of distributions.

Medicare Tax on Net Investment Income

Beginning in 2013, the taxable portion of distributions from a non-qualified annuity Contract will be considered investment income for purposes of the new Medicare tax on investment income.  As a result, a 3.8% tax will generally apply to some or all of the taxable portion of distributions to individuals whose modified adjusted gross income exceeds certain threshold amounts.  These levels are $200,000 in the case of single taxpayers, $250,000 in the case of married taxpayers filing joint returns, and $125,000 in the case of married taxpayers filing separately.  Owners should consult their own tax advisers for more information.

Withholding Tax on Distributions

The Code generally requires Jackson (or, in some cases, a plan administrator) to withhold tax on the taxable portion of any distribution or withdrawal from a Contract.  For "eligible rollover distributions" from Contracts issued under certain types of tax-qualified plans, 20% of the distribution must be withheld, unless the payee elects to have the distribution "rolled over" to another eligible plan in a direct transfer.  This requirement is mandatory and cannot be waived by the owner.

An "eligible rollover distribution" is the taxable portion of any amount received by a covered employee from a plan qualified under Section 401(a) or 403(a) of the Code, from a tax sheltered annuity qualified under Section 403(b) of the Code or an eligible deferred compensation plan of a state or local government under Section 457(b) of the Code (other than (1) a series of substantially equal periodic payments (not less frequently than annually) for the life (or life expectancy) of the employee, or joint lives (or joint life expectancies) of the employee, and his or her designated beneficiary, or for a specified period of ten years or more; (2) minimum distributions required to be made under the Code; and (3) hardship withdrawals).  Failure to "roll over" the entire amount of an eligible rollover distribution (including the amount equal to the 20% portion of the distribution that was withheld) could have adverse tax consequences, including the imposition of a penalty tax on premature withdrawals, described later in this section.

Withdrawals or distributions from a Contract other than eligible rollover distributions are also subject to withholding on the taxable portion of the distribution, but the owner may elect in such cases to waive the withholding requirement.  If not waived, withholding is imposed (1) for periodic payments, at the rate that would be imposed if the payments were wages, or (2) for other distributions, at the rate of 10%.  If no withholding exemption certificate is in effect for the payee, the rate under (1) above is computed by treating the payee as a married individual claiming three withholding exemptions.

Generally, the amount of any payment of interest to a non-resident alien of the United States shall be subject to withholding of a tax equal to 30% of such amount or, if applicable, a lower treaty rate.  A payment may not be subject to withholding where the recipient sufficiently establishes that such payment is effectively connected to the recipient's conduct of a trade or business in the United States and such payment is included in the recipient's gross income.

Diversification -- Separate Account Investments

Section 817(h) of the Code imposes certain asset diversification standards on variable annuity Contracts.  The Code provides that a variable annuity Contract will not be treated as an annuity Contract for any period (and any subsequent period) for which the investments held in any segregated asset account underlying the Contract are not adequately diversified, in accordance with regulations prescribed by the

United States Treasury Department ("Treasury Department").  Disqualification of the Contract as an annuity Contract would result in imposition of federal income tax to the owner with respect to earnings allocable to the Contract prior to the receipt of payments under the Contract.  The Code contains a safe harbor provision which provides that annuity Contracts, such as the Contracts, meet the diversification requirements if, as of the last day of each calendar quarter, or within 30 days after such last day, the underlying assets meet the diversification standards for a regulated investment company and no more than 55% of the total assets consist of cash, cash items, U.S. government securities and securities of other regulated investment companies.

The Treasury Department has issued Regulations establishing diversification requirements for the mutual Funds underlying variable Contracts.  These Regulations amplify the diversification requirements for variable Contracts set forth in the Code and provide an alternative to the safe harbor provision described above.  Under these Regulations, a mutual Fund will be deemed adequately diversified if (1) no more than 55% of the value of the total assets of the mutual Fund is represented by any one investment; (2) no more than 70% of the value of the total assets of the mutual Fund is represented by any two investments; (3) no more than 80% of the value of the total assets of the mutual Fund is represented by any three investments; and (4) no more than 90% of the value of the total assets of the mutual Fund is represented by any four investments.

Jackson intends that each Fund of the JNL Series Trust will be managed by its respective investment adviser in such a manner as to comply with these diversification requirements.

At the time the Treasury Department issued the diversification Regulations, it did not provide guidance regarding the circumstances under which Contract owner control of the investments of a segregated asset account would cause the Contract owner to be treated as the owner of the assets of the segregated asset account.  Revenue Ruling 2003-91 provides such guidance by describing the circumstances under which the owner of a variable contract will not possess sufficient control over the assets underlying the contract to be treated as the owner of those assets for federal income tax purposes.

Rev. Rul. 2003-91 considered certain variable annuity and variable life insurance contracts and held that the types of actual and potential control that the contract owners could exercise over the investment assets held by the insurance company under these variable contracts was not sufficient to cause the contract owners to be treated as the owners of those assets and thus to be subject to current income tax on the income and gains produced by those assets.  Under the contracts in Rev. Rul. 2003-91 there was no arrangement, plan, contract or agreement between the contract owner and the insurance company regarding the availability of a particular investment option and other than the contract owner's right to allocate premiums and transfer funds among the available sub-accounts, all investment decisions concerning the sub-accounts were made by the insurance company or an advisor in its sole and absolute discretion.  Twelve investment options were available under the contracts in Rev. Rul. 2003-91 although the insurance company had the right to increase (but to no more than 20) or decrease the number of sub-accounts at any time.  The contract owner was permitted to transfer amounts among the various investment options without limitation, subject to incurring fees for more than one transfer per 30-day period.

Like the contracts described in Rev. Rul. 2003-91, under the Contract there will be no arrangement, plan, contract or agreement between a Contract owner and Jackson 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 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 Perspective II Contract currently offers 96 Investment Divisions and at least one Fixed Account option, and, if more than 99 options are offered, a Contract owner's Contract Value can be allocated to no more than 99 fixed and variable options at any one time.  The second difference is that the owner of a contract in Rev. Rul. 2003-91 could only make one transfer per 30-day period without a fee whereas during the accumulation phase, a Contract owner can make 15 transfers in any one year without a charge.

Rev. Rul. 2003-91 states that whether the owner of a variable contract is to be treated as the owner of the assets held by the insurance company under the contract will depend on all of the facts and circumstances.  Jackson does not believe that the differences between the Contract and the contracts described in Rev. Rul. 2003-91 with respect to the number of investment choices and the number of investment transfers that can be made under the Contract without an additional charge should prevent the holding in Rev. Rul. 2003-91 from applying to the owner of a Contract.  At this time, however, it cannot be determined whether additional guidance will be provided by the IRS on this issue and what standards may be contained in such guidance.  Jackson reserves the right to modify the Contract to the extent required to maintain favorable tax treatment.

Multiple Contracts

The Code provides that multiple non-qualified annuity Contracts that are issued within a calendar year to the same Contract owner by one company or its affiliates are treated as one annuity Contract for purposes of determining the tax consequences of any distribution.  Such treatment may result in adverse tax consequences including more rapid taxation of the distributed amounts from such multiple Contracts.  For purposes of this rule, Contracts received in a Section 1035 exchange will be considered issued in the year of the exchange.  Owners should consult a tax adviser prior to purchasing more than one annuity Contract in any calendar year.

Partial 1035 Exchanges

In accordance with Revenue Procedure 2011-38, the IRS will consider a partial exchange of an annuity Contract for another annuity Contract valid if there is either no withdrawal from, or surrender of, either the surviving annuity contract or the new annuity contract within 180 days of the date of the partial exchange.  Revenue Procedure 2011-38 also provides certain exceptions to the 180 day rule.  Due to the complexity of these rules, owners are encouraged to consult their own tax advisers prior to entering into a partial exchange of an annuity Contract.

Contracts Owned by Other Than Natural Persons

Under Section 72(u) of the Code, the investment earnings on premiums for Contracts will be taxed currently to the owner if the owner is a non-natural person, e.g., a corporation or certain other entities.  Such Contracts generally will not be treated as annuities for federal income tax purposes (except for the taxation of life insurance companies).  However, this treatment is not applied to Contracts held by a trust or other entity as an agent for a natural person nor to Contracts held by certain tax-qualified plans.

Purchasers should consult their own tax counsel or other tax adviser before purchasing a Contract to be owned by a non-natural person.

Tax Treatment of Assignments

An assignment or pledge of a Contract may have tax consequences.  Any assignment or pledge of a tax-qualified Contract may also be prohibited by ERISA in some circumstances.  Owners should, therefore, consult competent legal advisers should they wish to assign or pledge their Contracts.

An assignment or pledge of all or any portion of the value of a Non-Qualified Contract is treated under Section 72 of the Code as an amount not received as an annuity.  The value of the Contract assigned or pledged that exceeds the aggregate premiums paid will be included in the individual's gross income.  In addition, the amount included in the individual's gross income could also be subject to the 10% penalty tax discussed below under Non-Qualified Contracts.

An assignment or pledge of all or any portion of the value of a Qualified Contract will disqualify the Qualified Contract.  If the Qualified Contract is part of a qualified pension or profit-sharing plan, the Code prohibits the assignment or alienation of benefits provided under the plan.  If the Qualified Contract is an IRA annuity or a 403(b) annuity, the Code requires the Qualified Contract to be nontransferable.  If the Qualified Contract is part of an eligible deferred compensation plan, amounts cannot be made available to plan participants or beneficiaries: (1) until the calendar year in which the participant attains age 70 1/2; (2) when the participant has a severance from employment; or (3) when the participant is faced with an unforeseeable emergency.

Death Benefits

Any death benefits paid under the Contract are taxable to the beneficiary.  The rules governing the taxation of payments from an annuity Contract, as discussed above, generally apply to the payment of death benefits and depend on whether the death benefits are paid as a lump sum or as annuity payments.  Estate or gift taxes may also apply.

IRS Approval

The Perspective II Contract and all death benefit riders attached thereto have been approved by the IRS for use as an Individual Retirement Annuity prototype.

Tax-Qualified Plans

The Contracts offered by the Prospectus are designed to be suitable for use under various types of tax-qualified plans.  Taxation of owners of a tax-qualified Contract will vary based on the type of plan and the terms and conditions of each specific plan.  Owners, annuitants and beneficiaries are cautioned that benefits under a tax-qualified Contract may be subject to the terms and conditions of the plan, regardless of the terms and conditions of the Contracts issued to fund the plan.  Owners, annuitant and beneficiaries are also reminded that a tax-qualified Contract will not provide any necessary or additional tax deferral if it is used to fund a tax-qualified plan that is already tax-deferred.

Tax Treatment of Withdrawals

Non-Qualified Contracts

Section 72 of the Code governs treatment of distributions from annuity Contracts.  It provides that if the Contract value exceeds the aggregate premiums made, any amount withdrawn not in the form of an annuity payment will be treated as coming first from the earnings and then, only after the income portion is exhausted, as coming from the principal.  Withdrawn earnings are included in a taxpayer's gross income.  Section 72 further provides that a 10% penalty will apply to the income portion of any distribution.  The penalty is not imposed on amounts received: (1) after the taxpayer reaches 59 1/2; (2) upon the death of the owner; (3) if the taxpayer is totally disabled as defined in Section 72(m)(7) of the Code; (4) in a series of substantially equal periodic payments made at least annually for the life (or life expectancy) of the taxpayer or for the joint lives (or joint life expectancies) of the taxpayer and his beneficiary; (5) under an immediate annuity; or (6) which are allocable to premium payments made prior to August 14, 1982.

With respect to (4) above, if the series of substantially equal periodic payments is modified before the later of your attaining age 59 1/2 or five years from the date of the first periodic payment, then the tax for the year of the modification is increased by an amount equal to the tax which would have been imposed (the 10% penalty tax) but for the exception, plus interest for the tax years in which the exception was used.

Tax-Qualified Contracts

In the case of a withdrawal under a tax-qualified Contract, a ratable portion of the amount received is taxable, generally based on the ratio of the individual's cost basis to the individual's total accrued benefit under the retirement plan.  Special tax rules may be available for certain distributions from a tax-qualified Contract.  Section 72(t) of the Code imposes a 10% penalty tax on the taxable portion of any distribution from qualified retirement plans, including Contracts issued and qualified under Code Sections 401 (pension and profit sharing plans), 403(b) (tax-sheltered annuities), individual retirement accounts and annuities under 408(a) and (b) (IRAs) and Roth IRAs under 408A.  To the extent amounts are not included in gross income because they have been rolled over to an IRA or to another eligible qualified plan, no tax penalty will be imposed.

The tax penalty will not apply to the following distributions: (1) distributions made on or after the date on which the owner or annuitant (as applicable) reaches age 59 1/2; (2) distributions following the death or disability of the owner or annuitant (as applicable) (for this purpose "disability" is defined in Section 72(m)(7) of the Code); (3) distributions that are part of a series of substantially equal periodic payments made not less frequently than annually for the life (or life expectancy) of the owner or annuitant (as applicable) or the joint lives (or joint life expectancies) of such owner or annuitant (as applicable) and his or her designated beneficiary; (4) distributions to an owner or annuitant (as applicable) who has separated from service after he has attained age 55; (5) distributions made to the owner or annuitant (as applicable) to the extent such distributions do not exceed the amount allowable as a deduction under Code Section 213 to the owner or annuitant (as applicable) for amounts paid during the taxable year for medical care; (6) distributions made to an alternate payee pursuant to a qualified domestic relations order; (7) distributions made on account of an IRS levy upon the qualified Contracts; (8) distributions from an IRA after separation from employment for the purchase of medical insurance (as described in Section 213(d)(1)(D) of the Code) for the Contract owner or annuitant (as applicable) and his or her spouse and dependents if the Contract owner or annuitant (as applicable) has received unemployment compensation for at least 12 weeks (this exception will no longer apply after the Contract owner or annuitant (as applicable) has been re-employed for at least 60 days); (9) distributions from an IRA made to the owner or annuitant (as applicable) to the extent such distributions do not exceed the qualified higher education expenses (as defined in Section 72(t)(7) of the Code) (as applicable) for the taxable year; and (10) distributions from an  IRA made to the owner or annuitant (as applicable) which are qualified first time home buyer distributions (as defined in Section 72(t)(8) of the Code).  The exceptions stated in items (4) and (6) above do not apply in the case of an IRA.  The exception stated in (3) above applies to an IRA without the requirement that there be a separation from service.

With respect to (3) above, if the series of substantially equal periodic payments is modified before the later of your attaining age 59 1/2 or five years from the date of the first periodic payment, then the tax for the year of the modification is increased by an amount equal to the tax which would have been imposed (the 10% penalty tax) but for the exception, plus interest for the tax years in which the exception was used.

Withdrawals of amounts attributable to contributions made pursuant to a salary reduction agreement (in accordance with Section 403(b)(11) of the Code) are limited to the following: when the owner attains age 59 1/2, severs employment, dies, becomes disabled (within the meaning of Section 72(m)(7) of the Code), or in the case of hardship.  Hardship withdrawals do not include any earnings on salary reduction contributions.  These limitations on withdrawals apply to: (1) salary reduction contributions made after December 31, 1988; (2) income attributable to such contributions; and (3) income attributable to amounts held as of December 31, 1988.  The limitations on withdrawals do not affect rollovers or exchanges between certain tax-qualified plans.  Tax penalties may also apply.  While the foregoing limitations only apply to certain Contracts issued in connection with Section 403(b) plans, all owners should seek competent tax advice regarding any withdrawals or distributions.

The taxable portion of a withdrawal or distribution from tax-qualified Contracts may, under some circumstances, be "rolled over" into another eligible plan so as to continue to defer income tax on the taxable portion.  Such treatment is available for an "eligible rollover distribution" made by certain types of plans (as described above under "Taxes – Withholding Tax on Distributions") that is transferred within 60 days of receipt into another eligible plan or an IRA.  Plans making such eligible rollover distributions are also required, with some exceptions specified in the Code, to provide for a direct transfer of the distribution to the transferee plan designated by the recipient.

Amounts received from IRAs may also be rolled over into other IRAs or certain other plans, subject to limitations set forth in the Code.

Prior to the date that annuity payments begin under an annuity Contract, the required minimum distribution rules applicable to defined contribution plans and IRAs will be used. Generally, distributions from a tax-qualified plan must commence no later than April 1 of the calendar year following the year in which the employee attains the later of age 70 1/2 or the date of retirement.  In the case of an IRA, distributions must commence no later than April 1 of the calendar year following the year in which the owner attains age 70 1/2.  Required distributions from defined contribution plans and IRAs are determined by dividing the account balance by the appropriate distribution period found in a uniform lifetime distribution table set forth in IRS regulations. For this purpose, the entire interest under an annuity Contract is the account value under the Contract plus the actuarial value of any other benefits such as guaranteed death benefits that will be provided under the Contract.

If the sole beneficiary is the Contract holder's or employee's spouse and the spouse is more than 10 years younger than the employee, a longer distribution period measured by the joint life and last survivor expectancy of the Contract holder employee and spouse is permitted to be used.  Distributions under a defined benefit plan or an annuity Contract must be paid in the form of periodic annuity payments for the employee's life (or the joint lives of the employee and beneficiary) or over a period certain that does not exceed the period under the uniform lifetime table for the employee's age in the year in which the annuity starting date occurs.  If the required minimum distributions are not made, a 50% penalty tax on the amount not distributed is imposed on the individual.

Types of Tax-Qualified Plans

The Contracts offered herein are designed to be suitable for use under various types of tax-qualified plans.  Taxation of participants in each tax-qualified plan varies with the type of plan and terms and conditions of each specific plan.  Owners, annuitants and beneficiaries are cautioned that benefits under a tax-qualified plan may be subject to the terms and conditions of the plan regardless of the terms and conditions of the Contracts issued pursuant to the plan.  Some retirement plans are subject to distribution and other requirements that are not incorporated into Jackson's administrative procedures.  Jackson is not bound by the terms and conditions of such plans to the extent such terms conflict with the terms of a Contract, unless Jackson specifically consents to be bound.  Owners, annuitants and beneficiaries are responsible for determining that contributions, distributions and other transactions with respect to the Contracts comply with applicable law.

A tax-qualified Contract will not provide any necessary or additional tax deferral if it is used to fund a tax-qualified plan that is tax deferred.  However, the Contract has features and benefits other than tax deferral that may make it an appropriate investment for a tax-qualified plan.  Following are general descriptions of the types of tax-qualified plans with which the Contracts may be used.  Such descriptions are not exhaustive and are for general informational purposes only.  The tax rules regarding tax-qualified plans are very complex and will have differing applications depending on individual facts and circumstances.  Each purchaser should obtain competent tax advice prior to purchasing a Contract issued under a tax-qualified plan.

Contracts issued pursuant to tax-qualified plans include special provisions restricting Contract provisions that may otherwise be available as described herein.  Generally, Contracts issued pursuant to tax-qualified plans are not transferable except upon surrender or annuitization.  Various penalty and excise taxes may apply to contributions or distributions made in violation of applicable limitations.  Furthermore, certain withdrawal penalties and restrictions may apply to surrenders from Tax-Qualified Contracts.  (See "Tax Treatment of Withdrawals – Tax-Qualified Contracts" above.)

On July 6, 1983, the Supreme Court decided in Arizona Governing Committee v. Norris that benefits provided under an employer's deferred compensation plan could not, under Title VII of the Civil Rights Act of 1964, vary between men and women.  The Contracts sold by Jackson in connection with certain Tax-Qualified Plans will utilize tables that do not differentiate on the basis of sex.  Such annuity tables will also be available for use in connection with certain non-qualified deferred compensation plans.

(a) Tax‑Sheltered Annuities

Section 403(b) of the Code permits the purchase of "tax-sheltered annuities" by public schools and certain charitable, educational and scientific organizations described in Section 501(c)(3) of the Code.  These qualifying employers may make contributions to the Contracts for the benefit of their employees.  Such contributions are not included in the gross income of the employee until the employee receives distributions from the Contract.  The amount of contributions to the tax-sheltered annuity is limited to certain maximums imposed by the Code.  Furthermore, the Code sets forth additional restrictions governing such items as transferability, distributions, non-discrimination and withdrawals. Employee loans are not allowed under these Contracts.  Any employee should obtain competent tax advice as to the tax treatment and suitability of such an investment.

(b) Individual Retirement Annuities

Section 408(b) of the Code permits eligible individuals to contribute to an individual retirement program known as an "individual retirement annuity" ("IRA annuity").  Under applicable limitations, certain amounts may be contributed to an IRA annuity that will be deductible from the individual's gross income.  IRA annuities are subject to limitations on eligibility, contributions, transferability and distributions.  Sales of IRA annuities are subject to special requirements imposed by the Code, including the requirement that certain informational disclosure be given to persons desiring to establish an IRA.  Purchasers of Contracts to be qualified as IRA annuities should obtain competent tax advice as to the tax treatment and suitability of such an investment.

(c) Roth IRA Annuities

Section 408A of the Code provides that individuals may purchase a non-deductible IRA annuity, known as a Roth IRA annuity.  Purchase payments for Roth IRA annuities are limited to a maximum of $5,500 for 201 5 .  The limit will be adjusted annually for inflation in $500 increments.  In addition, the Act allows individuals age 50 and older to make additional catch-up IRA contributions.  The otherwise maximum contribution limit (before application of adjusted gross income phase-out limits) for an individual who had celebrated his or her 50th birthday before the end of the tax year is increased by $1,000.  The same contribution and catch-up contributions are also available for purchasers of Traditional IRA annuities.

Lower maximum limitations apply to individuals above certain adjusted gross income levels.  For 201 5 , these levels are $11 6 ,000 in the case of single taxpayers, $18 3 ,000 in the case of married taxpayers filing joint returns, and $0 in the case of married taxpayers filing separately.  These levels are indexed annually in $1,000 increments.  An overall $5,500 annual limitation (increased as discussed above) continues to apply to all of a taxpayer's IRA annuity contributions, including Roth IRA annuities and non-Roth IRA annuities.

Qualified distributions from Roth IRA annuities are free from federal income tax.  A qualified distribution requires that the individual has held the Roth IRA annuity for at least five years and, in addition, that the distribution is made either after the individual reaches age 59 1/2, on the individual's death or disability, or as a qualified first-time home purchase, subject to a $10,000 lifetime maximum, for the individual, a spouse, child, grandchild, or ancestor.  Any distribution that is not a qualified distribution is taxable to the extent of earnings in the distribution.  Distributions are treated as made from contributions first and therefore no distributions are taxable until distributions exceed the amount of contributions to the Roth IRA annuity.  The 10% penalty tax and the regular IRA annuity exceptions to the 10% penalty tax apply to taxable distributions from Roth IRA annuities.

Amounts may be rolled over from one Roth IRA annuity to another Roth IRA annuity.  Furthermore, an individual may make a rollover contribution from a non-Roth IRA annuity to a Roth IRA annuity.  The individual must pay tax on any portion of the IRA annuity being rolled over that would be included in income if the distributions were not rolled over.  There are no similar limitations on rollovers from one Roth IRA annuity to another Roth IRA annuity.

(d) Pension and Profit-Sharing Plans

The Internal Revenue Code permits employers, including self-employed individuals, to establish various types of qualified retirement plans for employees.  These retirement plans may permit the purchase of the Contracts to provide benefits under the plan.  Contributions to the plan for the benefit of employees will not be included in the gross income of the employee until distributed from the plan.  The tax consequences to owners may vary depending upon the particular plan design.  However, the Code places limitations on all plans on such items as amount of allowable contributions; form, manner and timing of distributions; vesting and non-forfeitability of interests; nondiscrimination in eligibility and participation; and the tax treatment of distributions, transferability of benefits, withdrawals and surrenders.  Purchasers of Contracts for use with pension or profit sharing plans should obtain competent tax advice as to the tax treatment and suitability of such an investment.

(e) Eligible Deferred Compensation Plans -- Section 457

Under Code provisions, employees and independent Contractors performing services for state and local governments and other tax-exempt organizations may participate in eligible deferred compensation plans under Section 457 of the Code.  The amounts deferred under a Plan that meets the requirements of Section 457 of the Code are not taxable as income to the participant until paid or otherwise made available to the participant or beneficiary.  As a general rule, the maximum amount that can be deferred in any one year is the lesser of 100% of the participant's includible compensation or the $ 18,000 elective deferral limitation in 201 5 .  The limit is indexed for inflation in $500 increments annually.  In addition, the Act allows individuals in eligible deferred compensation plans of state or local governments age 50 and older to make additional catch-up contributions.  The otherwise maximum contribution limit for an individual who had celebrated his or her 50th birthday before the end of the tax year is increased by $ 6,000 .  The same contribution and catch-up contributions are also available for participants in qualified pension and profit-sharing plans and tax-sheltered annuities under Section 403(b) of the Code.

In limited circumstances, the plan may provide for additional catch-up contributions in each of the last three years before normal retirement age.  Furthermore, the Code provides additional requirements and restrictions regarding eligibility and distributions.

All of the assets and income of an eligible deferred compensation plan established by a governmental employer must be held in trust for the exclusive benefit of participants and their beneficiaries.  For this purpose, custodial accounts and certain annuity Contracts are treated as trusts.  The requirement of a trust does not apply to amounts under a Plan of a tax-exempt (non-governmental) employer.  In addition, the requirement of a trust does not apply to amounts under a Plan of a governmental employer if the Plan is not an eligible plan within the meaning of Section 457(b) of the Code.  In the absence of such a trust, amounts under the plan will be subject to the claims of the employer's general creditors.

In general, distributions from a Plan are prohibited under Section 457 of the Code unless made after the participant:

●
attains age 70 1/2,
 
●
 
severs employment,
 
●
 
dies, or
 
●
 
suffers an unforeseeable financial emergency as defined in the regulations.

Under present federal tax law, amounts accumulated in a Plan of a tax-exempt (non-governmental) employer under Section 457 of the Code cannot be transferred or rolled over on a tax-deferred basis except for certain transfers to other Plans under Section 457.  Amounts accumulated in a Plan of a state or local government employer may be transferred or rolled over to another eligible deferred compensation plan of a state or local government, an IRA, a qualified pension or profit-sharing plan or a tax-sheltered annuity under Section 403(b) of the Code.

Annuity Provisions

Variable Annuity Payment

The initial annuity payment is determined by taking the Contract value allocated to that Investment Division, less any premium tax and any applicable Contract charges, and then applying it to the income option table specified in the Contract.  The appropriate rate must be determined by the sex (except where, as in the case of certain Qualified Plans and other employer-sponsored retirement plans, such classification is not permitted) and age of the annuitant and designated second person, if any.

The dollars applied are divided by 1,000 and the result multiplied by the appropriate annuity factor appearing in the table to compute the amount of the first monthly payment.  That amount is divided by the value of an annuity unit as of the Income Date to establish the number of annuity units representing each variable payment.  The number of annuity units determined for the first variable payment remains constant for the second and subsequent monthly variable payments, assuming that no reallocation of Contract values is made.

The amount of the second and each subsequent monthly variable payment is determined by multiplying the number of annuity units by the annuity unit value as of the business day next preceding the date on which each payment is due.

The mortality and expense experience will not adversely affect the dollar amount of the variable annuity payments once payments have commenced.

Annuity Unit Value

The initial value of an annuity unit of each Investment Division was set when the Investment Divisions were established.  The value may increase or decrease from one business day to the next.  The income option tables contained in the Contract are based on an assumed investment rate of 1.5% for all options.

The value of a fixed number of annuity units will reflect the investment performance of the Investment Divisions elected, and the amount of each payment will vary accordingly.

For each Investment Division, the value of an annuity unit for any business day is determined by multiplying the annuity unit value for the immediately preceding business day by the percentage change in the value of an accumulation unit from the immediately preceding business day to the business day of valuation, calculated by use of the Net Investment Factor, described below. The result is then multiplied by a second factor which offsets the effect of the assumed net investment rate of 1.5% for all options.

Net Investment Factor

The net investment factor is an index applied to measure the net investment performance of an Investment Division from one valuation date to the next. The net investment factor for any Investment Division for any valuation period during the accumulation and annuity phases is determined by dividing (a) by (b) and then subtracting (c) from the result where:

(a)
is the net result of:
 
 
(1)
 
the net asset value of a Fund's share held in the Investment Division determined as of the valuation date at the end of the valuation period, plus
 
 
(2)
 
the per share amount of any dividend or other distribution declared by the Fund if the "ex-dividend" date occurs during the valuation period, plus or minus
 
 
(3)
 
a per share credit or charge with respect to any taxes paid or reserved for by Jackson during the valuation period which are determined by Jackson to be attributable to the operation of the Investment Division (no federal income taxes are applicable under present law);
 
(b)
 
is the net asset value of the Fund share held in the Investment Division determined as of the valuation date at the end of the preceding valuation period; and
 
(c)
 
is the asset charge factor determined by Jackson for the valuation period to reflect the asset-based charges (the mortality and expense risk charge), administration charge, and any applicable charges for optional benefits.

Also see "Income Payments (The Income Phase)" in the Prospectus.

Condensed Financial Information

Accumulation Unit Values

The tables reflect the Accumulation Unit values for each Investment Division for the beginning and end of the periods indicated, and the number of Accumulation Units outstanding as of the end of the periods indicated – for Contracts with all levels of charges (and combinations of optional endorsements), except base Contracts (with Administration Charge waiver and no optional endorsements) or Contracts with the most expensive combination of charges and optional endorsements, which can be found in the Prospectus.  The tables do not provide partial year information.  The tables provide Accumulation Unit values and the number of Accumulation Units outstanding only if that information is available throughout the period.  Where Accumulation Unit values and the number of Accumulation Units outstanding are unavailable, either because of a partial year or a Fund not being offered, a "N/A" is provided.

Contact the Annuity Service Center (our contact information is on the cover page of the Prospectus) to ask about the more timely Accumulation Unit values that are available for each Investment Division.

Set forth below are fund changes and additions since the September 1 5 , 201 4 Supplement to the Prospectus dated April 2 8 , 201 4 , for your information in reviewing Accumulation Unit information.

The following fund mergers are effective April 2 7 , 201 5 :
 
JNL Variable Fund LLC
JNL/Mellon Capital Value Line® 30 Fund merged into JNL/Mellon Capital S&P® 24 Fund
JNL/Mellon Capital JNL Optimized 5 Fund merged into JNL/Mellon Capital JNL 5 Fund
 
Effective April 2 7 , 201 5 , the Separate Account has the following new Investment Division, for which no Accumulation Unit information is yet available:
 
JNL Investors Series Trust
JNL/PPM America Total Return Fund
 
 
Accumulation Unit Values
    
Base Contract - 1.25%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.55
$10.95
  End of period
$11.98
$11.55
 Accumulation units outstanding at the end of period
1,969,494
2,013,452
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.69
$10.97
  End of period
$13.20
$12.69
 Accumulation units outstanding at the end of period
3,882,652
4,113,203
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.33
$12.11
  End of period
$12.79
$12.33
 Accumulation units outstanding at the end of period
3,997,588
4,162,869
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.73
$15.65
  End of period
$16.89
$16.73
 Accumulation units outstanding at the end of period
4,450,684
4,759,824
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.19
$16.89
  End of period
$17.29
$17.19
 Accumulation units outstanding at the end of period
6,516,544
7,004,091
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.15
$15.74
  End of period
$17.25
$17.15
 Accumulation units outstanding at the end of period
8,083,235
8,896,493
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.53
$16.74
  End of period
$17.59
$17.53
 Accumulation units outstanding at the end of period
4,015
3,843
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.76
$11.44
  End of period
$12.11
$11.76
 Accumulation units outstanding at the end of period
3,066,735
3,151,706
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.72
$13.71
  End of period
$16.72
$14.72
 Accumulation units outstanding at the end of period
3,345,232
3,267,830
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.69
$11.15
  End of period
$10.68
$10.69
 Accumulation units outstanding at the end of period
1,226,116
1,188,347
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.94
$10.24
  End of period
$13.01
$12.94
 Accumulation units outstanding at the end of period
901,822
880,315
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.36
$10.35
  End of period
$12.70
$12.36
 Accumulation units outstanding at the end of period
1,703,457
1,737,426
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$15.16
$11.55
  End of period
$16.49
$15.16
 Accumulation units outstanding at the end of period
4,644,657
4,724,627
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.62
$11.90
  End of period
$12.08
$12.62
 Accumulation units outstanding at the end of period
1,591,670
1,587,971
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$12.10
$11.05
  End of period
$10.97
$12.10
 Accumulation units outstanding at the end of period
1,880,132
1,849,553
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$11.19
$10.35
  End of period
$9.48
$11.19
 Accumulation units outstanding at the end of period
1,951,254
1,970,304
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.98
$10.61
  End of period
$12.05
$11.98
 Accumulation units outstanding at the end of period
10,524,738
11,045,819
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$39.57
$35.65
  End of period
$42.55
$39.57
 Accumulation units outstanding at the end of period
151,728
132,064
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.79
$13.75
  End of period
$15.68
$14.79
 Accumulation units outstanding at the end of period
1,011,594
744,263
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$14.39
$12.61
  End of period
$14.29
$14.39
 Accumulation units outstanding at the end of period
403,830
397,525
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$35.87
$29.48
  End of period
$36.26
$35.87
 Accumulation units outstanding at the end of period
168,753
174,642
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$25.26
$18.93
  End of period
$27.40
$25.26
 Accumulation units outstanding at the end of period
447,498
398,652
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$40.22
$31.21
  End of period
$40.83
$40.22
 Accumulation units outstanding at the end of period
717,669
793,196
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.33
$8.35
  End of period
$8.69
$8.33
 Accumulation units outstanding at the end of period
300,893
337,988
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$7.26
$7.53
  End of period
$7.99
$7.26
 Accumulation units outstanding at the end of period
937,866
938,574
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$12.03
$9.83
  End of period
$12.20
$12.03
 Accumulation units outstanding at the end of period
2,494,313
2,603,202
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.47
$8.91
  End of period
$11.06
$11.47
 Accumulation units outstanding at the end of period
877,889
919,327
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.97
$11.68
  End of period
$11.77
$11.97
 Accumulation units outstanding at the end of period
1,560,715
1,564,744
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.02
$13.27
  End of period
$14.28
$14.02
 Accumulation units outstanding at the end of period
3,727,047
3,592,780
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$11.19
$9.25
  End of period
$10.01
$11.19
 Accumulation units outstanding at the end of period
741,150
733,754
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.67
$9.21
  End of period
$12.37
$11.67
 Accumulation units outstanding at the end of period
1,132,228
1,173,623
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$19.06
$14.36
  End of period
$18.85
$19.06
 Accumulation units outstanding at the end of period
788,102
816,752
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$25.63
$26.23
  End of period
$26.68
$25.63
 Accumulation units outstanding at the end of period
1,041,234
895,870
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.77
$14.32
  End of period
$20.97
$18.77
 Accumulation units outstanding at the end of period
738,477
748,159
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$12.07
$9.10
  End of period
$13.57
$12.07
 Accumulation units outstanding at the end of period
425,431
214,567
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$15.01
$14.79
  End of period
$17.06
$15.01
 Accumulation units outstanding at the end of period
1,713,659
1,611,996
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$21.21
$20.22
  End of period
$21.00
$21.21
 Accumulation units outstanding at the end of period
574,069
497,713
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.92
$13.00
  End of period
$19.17
$17.92
 Accumulation units outstanding at the end of period
712,197
768,144
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$26.38
$20.40
  End of period
$28.46
$26.38
 Accumulation units outstanding at the end of period
245,591
247,147
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$24.61
$17.85
  End of period
$26.25
$24.61
 Accumulation units outstanding at the end of period
469,376
467,117
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.54
$11.90
  End of period
$13.78
$14.54
 Accumulation units outstanding at the end of period
5,694,953
5,928,018
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$15.96
$13.30
  End of period
$14.10
$15.96
 Accumulation units outstanding at the end of period
447,863
452,126
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$37.91
$27.03
  End of period
$41.63
$37.91
 Accumulation units outstanding at the end of period
342,109
317,583
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$20.69
$21.71
  End of period
$21.53
$20.69
 Accumulation units outstanding at the end of period
894,867
880,034
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$24.45
$18.09
  End of period
$24.65
$24.45
 Accumulation units outstanding at the end of period
795,279
879,016
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$14.05
$14.63
  End of period
$14.65
$14.05
 Accumulation units outstanding at the end of period
842,139
760,325
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$7.72
$7.59
  End of period
$8.05
$7.72
 Accumulation units outstanding at the end of period
356,633
409,002
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$20.91
$15.01
  End of period
$22.88
$20.91
 Accumulation units outstanding at the end of period
630,112
749,732
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.31
$11.10
  End of period
$15.52
$14.31
 Accumulation units outstanding at the end of period
743,092
764,741
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.93
$10.13
  End of period
$14.67
$13.93
 Accumulation units outstanding at the end of period
139,935
130,407
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.94
$10.09
  End of period
$9.45
$9.94
 Accumulation units outstanding at the end of period
1,684,038
1,683,796
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.30
$14.70
  End of period
$14.59
$15.30
 Accumulation units outstanding at the end of period
237,708
139,535
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$11.09
$8.43
  End of period
$12.39
$11.09
 Accumulation units outstanding at the end of period
899,876
823,251
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.05
$16.14
  End of period
$19.77
$18.05
 Accumulation units outstanding at the end of period
139,564
136,308
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$21.40
$15.38
  End of period
$26.45
$21.40
 Accumulation units outstanding at the end of period
1,649,422
1,383,973
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.91
$10.56
  End of period
$13.43
$12.91
 Accumulation units outstanding at the end of period
1,312,030
1,359,863
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$19.00
$15.84
  End of period
$17.62
$19.00
 Accumulation units outstanding at the end of period
862,042
775,808
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.54
$12.72
  End of period
$18.18
$16.54
 Accumulation units outstanding at the end of period
1,108,799
1,108,647
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.87
$9.85
  End of period
$13.59
$12.87
 Accumulation units outstanding at the end of period
246,324
226,215
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.92
$17.03
  End of period
$22.13
$18.92
 Accumulation units outstanding at the end of period
799,854
531,613
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$42.17
$36.84
  End of period
$37.33
$42.17
 Accumulation units outstanding at the end of period
745,556
680,317
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.61
$14.03
  End of period
$15.91
$15.61
 Accumulation units outstanding at the end of period
150,901
148,329
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.42
$13.26
  End of period
$16.02
$15.42
 Accumulation units outstanding at the end of period
293,435
358,964
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$25.21
$20.74
  End of period
$27.19
$25.21
 Accumulation units outstanding at the end of period
892,781
899,842
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$16.47
$13.48
  End of period
$18.39
$16.47
 Accumulation units outstanding at the end of period
3,762,824
3,622,131
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.09
$11.90
  End of period
$16.44
$16.09
 Accumulation units outstanding at the end of period
400,959
406,742
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$22.79
$16.67
  End of period
$23.56
$22.79
 Accumulation units outstanding at the end of period
846,906
887,336
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.65
$7.74
  End of period
$11.49
$9.65
 Accumulation units outstanding at the end of period
2,037,088
1,801,674
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.98
$10.50
  End of period
$14.87
$13.98
 Accumulation units outstanding at the end of period
189,067
155,401
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.93
$12.06
  End of period
$12.72
$12.93
 Accumulation units outstanding at the end of period
251,953
216,300
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.31
$10.45
  End of period
$10.68
$10.31
 Accumulation units outstanding at the end of period
801,931
583,681
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.14
$15.36
  End of period
$19.27
$19.14
 Accumulation units outstanding at the end of period
725,703
632,108
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.61
$15.16
  End of period
$13.88
$13.61
 Accumulation units outstanding at the end of period
3,223,849
3,476,664
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$19.99
$20.63
  End of period
$20.53
$19.99
 Accumulation units outstanding at the end of period
4,569,448
5,230,715
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.91
$10.80
  End of period
$10.80
$10.91
 Accumulation units outstanding at the end of period
2,226,296
2,167,660
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$20.32
$19.37
  End of period
$20.10
$20.32
 Accumulation units outstanding at the end of period
1,843,991
1,909,900
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$15.41
$11.06
  End of period
$16.80
$15.41
 Accumulation units outstanding at the end of period
434,934
370,746
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$15.20
$14.54
  End of period
$15.89
$15.20
 Accumulation units outstanding at the end of period
232,901
231,754
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$27.71
$24.37
  End of period
$30.78
$27.71
 Accumulation units outstanding at the end of period
128,846
88,538
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.95
$12.66
  End of period
$20.28
$17.95
 Accumulation units outstanding at the end of period
3,787,295
3,297,943
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$19.44
$13.77
  End of period
$21.12
$19.44
 Accumulation units outstanding at the end of period
1,013,078
1,073,943
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.25
$12.58
  End of period
$18.25
$16.25
 Accumulation units outstanding at the end of period
3,962,637
3,998,155
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$19.31
$13.04
  End of period
$22.51
$19.31
 Accumulation units outstanding at the end of period
1,004,155
910,622
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$20.28
$16.33
  End of period
$21.35
$20.28
 Accumulation units outstanding at the end of period
1,798,876
1,885,000
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$13.68
$13.26
  End of period
$13.93
$13.68
 Accumulation units outstanding at the end of period
3,516,348
3,840,685
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$20.45
$16.89
  End of period
$21.33
$20.45
 Accumulation units outstanding at the end of period
5,828,040
5,839,999
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$15.06
$13.81
  End of period
$15.46
$15.06
 Accumulation units outstanding at the end of period
7,638,863
8,144,303
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.45
$17.00
  End of period
$20.07
$19.45
 Accumulation units outstanding at the end of period
9,884,077
10,235,363
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$16.52
$11.03
  End of period
$18.90
$16.52
 Accumulation units outstanding at the end of period
626,265
573,887
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$48.42
$36.95
  End of period
$51.98
$48.42
 Accumulation units outstanding at the end of period
1,242,201
1,330,448
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$73.80
$54.75
  End of period
$82.24
$73.80
 Accumulation units outstanding at the end of period
853,898
879,411
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.63
$10.73
  End of period
$10.55
$10.63
 Accumulation units outstanding at the end of period
1,729,616
1,699,193
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$23.16
$17.10
  End of period
$25.90
$23.16
 Accumulation units outstanding at the end of period
976,267
897,000
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$38.32
$34.02
  End of period
$41.57
$38.32
 Accumulation units outstanding at the end of period
3,011,348
3,076,779
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$12.76
$12.93
  End of period
$12.60
$12.76
 Accumulation units outstanding at the end of period
1,422,348
1,793,347
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$29.18
$22.55
  End of period
$32.08
$29.18
 Accumulation units outstanding at the end of period
409,565
442,959
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.40%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.55
$10.87
  End of period
$13.04
$12.55
 Accumulation units outstanding at the end of period
-
22,336
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.20
$10.08
  End of period
$12.64
$12.20
 Accumulation units outstanding at the end of period
-
24,414
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.61
$14.79
  End of period
$16.74
$16.61
 Accumulation units outstanding at the end of period
20,082
11,772
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.03
$15.65
  End of period
$17.10
$17.03
 Accumulation units outstanding at the end of period
-
41,771
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.64
$11.21
  End of period
$16.60
$14.64
 Accumulation units outstanding at the end of period
17,764
19,748
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$12.04
N/A
  End of period
$10.90
N/A
 Accumulation units outstanding at the end of period
33,444
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$11.07
$10.25
  End of period
$9.36
$11.07
 Accumulation units outstanding at the end of period
23,162
24,158
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.75
N/A
  End of period
$15.61
N/A
 Accumulation units outstanding at the end of period
23,885
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$39.19
$30.46
  End of period
$39.72
$39.19
 Accumulation units outstanding at the end of period
7,451
7,390
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.35
$8.83
  End of period
$10.92
$11.35
 Accumulation units outstanding at the end of period
23,387
25,325
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$11.09
$8.49
  End of period
$9.91
$11.09
 Accumulation units outstanding at the end of period
24,725
27,275
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.82
$14.63
  End of period
$16.81
$14.82
 Accumulation units outstanding at the end of period
16,910
16,981
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.00
N/A
  End of period
$15.16
N/A
 Accumulation units outstanding at the end of period
17,467
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.90
$10.48
  End of period
$9.40
$9.90
 Accumulation units outstanding at the end of period
54,371
51,966
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.78
$10.47
  End of period
$13.27
$12.78
 Accumulation units outstanding at the end of period
-
16,921
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.94
N/A
  End of period
$21.80
N/A
 Accumulation units outstanding at the end of period
18,451
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.44
$7.59
  End of period
$11.23
$9.44
 Accumulation units outstanding at the end of period
-
106,866
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.79
$10.37
  End of period
$14.65
$13.79
 Accumulation units outstanding at the end of period
-
43,854
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.29
$10.44
  End of period
$10.64
$10.29
 Accumulation units outstanding at the end of period
25,881
24,537
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$19.52
$20.22
  End of period
$20.02
$19.52
 Accumulation units outstanding at the end of period
13,847
48,272
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$15.07
$11.13
  End of period
$15.73
$15.07
 Accumulation units outstanding at the end of period
25,630
64,718
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.79
N/A
  End of period
$20.07
N/A
 Accumulation units outstanding at the end of period
40,473
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.10
N/A
  End of period
$18.05
N/A
 Accumulation units outstanding at the end of period
41,555
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$13.49
$13.15
  End of period
$13.72
$13.49
 Accumulation units outstanding at the end of period
-
52,038
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.97
N/A
  End of period
$20.81
N/A
 Accumulation units outstanding at the end of period
33,156
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.85
$13.64
  End of period
$15.23
$14.85
 Accumulation units outstanding at the end of period
-
50,553
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$47.09
$34.44
  End of period
$50.48
$47.09
 Accumulation units outstanding at the end of period
-
20,802
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$37.26
$31.67
  End of period
$40.37
$37.26
 Accumulation units outstanding at the end of period
-
14,861
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$12.41
$12.34
  End of period
$12.24
$12.41
 Accumulation units outstanding at the end of period
-
56,327
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.45%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.495%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.55%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.31
$9.26
  End of period
$11.69
$11.31
 Accumulation units outstanding at the end of period
-
145,026
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.42
$10.78
  End of period
$12.89
$12.42
 Accumulation units outstanding at the end of period
35,260
30,290
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.07
$10.00
  End of period
$12.49
$12.07
 Accumulation units outstanding at the end of period
27,131
46,065
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.49
$15.16
  End of period
$16.60
$16.49
 Accumulation units outstanding at the end of period
166,118
148,819
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.94
$15.30
  End of period
$17.00
$16.94
 Accumulation units outstanding at the end of period
84,979
83,110
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.91
$15.56
  End of period
$16.96
$16.91
 Accumulation units outstanding at the end of period
153,123
139,417
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.70
$10.31
  End of period
$12.01
$11.70
 Accumulation units outstanding at the end of period
54,536
44,016
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.56
$11.17
  End of period
$16.49
$14.56
 Accumulation units outstanding at the end of period
65,183
72,443
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.57
$11.06
  End of period
$10.53
$10.57
 Accumulation units outstanding at the end of period
66,462
70,761
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.80
$10.16
  End of period
$12.83
$12.80
 Accumulation units outstanding at the end of period
33,296
28,633
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.30
$10.33
  End of period
$12.60
$12.30
 Accumulation units outstanding at the end of period
34,586
42,507
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.99
$11.45
  End of period
$16.27
$14.99
 Accumulation units outstanding at the end of period
76,400
76,910
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.48
$10.47
  End of period
$11.91
$12.48
 Accumulation units outstanding at the end of period
21,170
18,640
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.97
$10.97
  End of period
$10.82
$11.97
 Accumulation units outstanding at the end of period
55,910
40,043
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.96
$10.16
  End of period
$9.25
$10.96
 Accumulation units outstanding at the end of period
51,025
51,552
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.86
$10.54
  End of period
$11.90
$11.86
 Accumulation units outstanding at the end of period
191,728
183,555
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$37.42
$27.34
  End of period
$40.11
$37.42
 Accumulation units outstanding at the end of period
3,799
2,009
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.70
$12.10
  End of period
$15.54
$14.70
 Accumulation units outstanding at the end of period
28,355
8,158
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$13.81
$12.14
  End of period
$13.67
$13.81
 Accumulation units outstanding at the end of period
8,289
10,409
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$33.92
$27.96
  End of period
$34.19
$33.92
 Accumulation units outstanding at the end of period
3,688
4,706
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$23.99
$18.02
  End of period
$25.94
$23.99
 Accumulation units outstanding at the end of period
6,549
1,556
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$38.19
$29.72
  End of period
$38.65
$38.19
 Accumulation units outstanding at the end of period
28,910
30,421
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.18
$8.84
  End of period
$8.51
$8.18
 Accumulation units outstanding at the end of period
20,770
20,354
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$7.13
$7.42
  End of period
$7.82
$7.13
 Accumulation units outstanding at the end of period
21,713
28,281
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.78
$9.65
  End of period
$11.91
$11.78
 Accumulation units outstanding at the end of period
41,249
77,886
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.23
$8.75
  End of period
$10.79
$11.23
 Accumulation units outstanding at the end of period
21,122
11,319
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.89
$11.67
  End of period
$11.66
$11.89
 Accumulation units outstanding at the end of period
84,185
97,955
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.70
$12.20
  End of period
$13.92
$13.70
 Accumulation units outstanding at the end of period
145,290
99,074
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$10.99
$8.43
  End of period
$9.80
$10.99
 Accumulation units outstanding at the end of period
47,970
44,516
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.43
$9.05
  End of period
$12.08
$11.43
 Accumulation units outstanding at the end of period
38,371
43,731
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.56
$14.03
  End of period
$18.31
$18.56
 Accumulation units outstanding at the end of period
24,162
27,221
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$24.23
$24.87
  End of period
$25.15
$24.23
 Accumulation units outstanding at the end of period
21,113
30,423
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.29
$13.99
  End of period
$20.37
$18.29
 Accumulation units outstanding at the end of period
26,160
24,761
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$11.82
$8.94
  End of period
$13.26
$11.82
 Accumulation units outstanding at the end of period
11,913
7,244
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.63
$14.46
  End of period
$16.57
$14.63
 Accumulation units outstanding at the end of period
36,488
38,087
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$20.06
$17.13
  End of period
$19.80
$20.06
 Accumulation units outstanding at the end of period
19,287
16,754
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.28
$12.57
  End of period
$18.43
$17.28
 Accumulation units outstanding at the end of period
21,022
28,438
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$25.15
$19.52
  End of period
$27.06
$25.15
 Accumulation units outstanding at the end of period
5,023
4,949
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$23.74
$17.26
  End of period
$25.24
$23.74
 Accumulation units outstanding at the end of period
13,664
17,977
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.35
$11.79
  End of period
$13.56
$14.35
 Accumulation units outstanding at the end of period
55,148
105,713
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$15.22
$12.72
  End of period
$13.40
$15.22
 Accumulation units outstanding at the end of period
40,174
36,465
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$35.85
$25.64
  End of period
$39.25
$35.85
 Accumulation units outstanding at the end of period
12,773
14,984
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$19.56
$20.59
  End of period
$20.30
$19.56
 Accumulation units outstanding at the end of period
22,639
27,176
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$23.41
$17.37
  End of period
$23.53
$23.41
 Accumulation units outstanding at the end of period
52,372
57,326
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$13.56
$14.15
  End of period
$14.10
$13.56
 Accumulation units outstanding at the end of period
25,447
36,727
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$7.39
$6.20
  End of period
$7.68
$7.39
 Accumulation units outstanding at the end of period
3,708
10,407
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$20.02
$14.41
  End of period
$21.85
$20.02
 Accumulation units outstanding at the end of period
14,303
17,454
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.70
$10.66
  End of period
$14.81
$13.70
 Accumulation units outstanding at the end of period
55,702
46,380
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.86
$10.59
  End of period
$14.56
$13.86
 Accumulation units outstanding at the end of period
7,214
3,373
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.87
$10.45
  End of period
$9.36
$9.87
 Accumulation units outstanding at the end of period
43,761
39,574
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.06
$11.71
  End of period
$14.32
$15.06
 Accumulation units outstanding at the end of period
1,851
2,890
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.62
$8.09
  End of period
$11.83
$10.62
 Accumulation units outstanding at the end of period
21,510
24,012
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.29
$15.50
  End of period
$18.87
$17.29
 Accumulation units outstanding at the end of period
12,629
15,565
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$20.50
$14.77
  End of period
$25.25
$20.50
 Accumulation units outstanding at the end of period
41,830
41,797
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.65
$10.39
  End of period
$13.12
$12.65
 Accumulation units outstanding at the end of period
84,079
88,306
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$18.33
$15.33
  End of period
$16.95
$18.33
 Accumulation units outstanding at the end of period
21,556
19,120
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.09
$12.41
  End of period
$17.63
$16.09
 Accumulation units outstanding at the end of period
26,096
44,459
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.57
$9.65
  End of period
$13.25
$12.57
 Accumulation units outstanding at the end of period
12,783
17,938
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.41
$13.25
  End of period
$21.47
$18.41
 Accumulation units outstanding at the end of period
34,769
18,471
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$40.39
$32.72
  End of period
$35.65
$40.39
 Accumulation units outstanding at the end of period
13,565
14,786
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.36
$13.85
  End of period
$15.61
$15.36
 Accumulation units outstanding at the end of period
3,269
3,580
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.07
$10.89
  End of period
$15.61
$15.07
 Accumulation units outstanding at the end of period
12,673
20,141
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$24.32
$18.57
  End of period
$26.16
$24.32
 Accumulation units outstanding at the end of period
17,574
14,936
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.89
$12.26
  End of period
$17.69
$15.89
 Accumulation units outstanding at the end of period
109,393
94,105
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.77
$11.70
  End of period
$16.07
$15.77
 Accumulation units outstanding at the end of period
4,315
7,352
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$21.99
$16.13
  End of period
$22.66
$21.99
 Accumulation units outstanding at the end of period
21,918
31,850
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.24
$7.44
  End of period
$10.97
$9.24
 Accumulation units outstanding at the end of period
58,739
150,970
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.60
$10.24
  End of period
$14.43
$13.60
 Accumulation units outstanding at the end of period
10,746
5,951
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.87
$9.49
  End of period
$12.62
$12.87
 Accumulation units outstanding at the end of period
7,105
5,578
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.26
$10.43
  End of period
$10.60
$10.26
 Accumulation units outstanding at the end of period
12,803
20,222
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.43
$14.83
  End of period
$18.49
$18.43
 Accumulation units outstanding at the end of period
22,331
19,561
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.33
$14.89
  End of period
$13.55
$13.33
 Accumulation units outstanding at the end of period
145,633
126,605
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$19.06
$19.77
  End of period
$19.52
$19.06
 Accumulation units outstanding at the end of period
248,337
252,872
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.81
$10.53
  End of period
$10.67
$10.81
 Accumulation units outstanding at the end of period
109,845
122,805
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$19.39
$18.20
  End of period
$19.12
$19.39
 Accumulation units outstanding at the end of period
108,282
123,325
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$15.14
$10.90
  End of period
$16.47
$15.14
 Accumulation units outstanding at the end of period
11,552
9,244
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.94
$11.05
  End of period
$15.57
$14.94
 Accumulation units outstanding at the end of period
32,071
64,346
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$26.20
$18.98
  End of period
$29.02
$26.20
 Accumulation units outstanding at the end of period
2,768
6,951
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.63
$12.47
  End of period
$19.86
$17.63
 Accumulation units outstanding at the end of period
131,120
94,189
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$19.09
$13.56
  End of period
$20.68
$19.09
 Accumulation units outstanding at the end of period
56,841
55,759
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.96
$12.39
  End of period
$17.86
$15.96
 Accumulation units outstanding at the end of period
199,266
205,881
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.96
$12.84
  End of period
$22.04
$18.96
 Accumulation units outstanding at the end of period
49,023
43,728
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.35
$15.62
  End of period
$20.30
$19.35
 Accumulation units outstanding at the end of period
10,451
12,721
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$13.31
$12.93
  End of period
$13.51
$13.31
 Accumulation units outstanding at the end of period
173,841
153,390
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.51
$16.16
  End of period
$20.29
$19.51
 Accumulation units outstanding at the end of period
200,115
106,472
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.65
$13.47
  End of period
$15.00
$14.65
 Accumulation units outstanding at the end of period
195,534
223,305
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.55
$16.26
  End of period
$19.09
$18.55
 Accumulation units outstanding at the end of period
223,781
238,428
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$16.22
$10.86
  End of period
$18.51
$16.22
 Accumulation units outstanding at the end of period
43,266
50,412
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$45.79
$33.54
  End of period
$49.01
$45.79
 Accumulation units outstanding at the end of period
25,310
47,403
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$69.79
$51.93
  End of period
$77.53
$69.79
 Accumulation units outstanding at the end of period
22,581
21,873
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.39
$10.54
  End of period
$10.28
$10.39
 Accumulation units outstanding at the end of period
118,751
101,291
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$22.23
$16.47
  End of period
$24.79
$22.23
 Accumulation units outstanding at the end of period
40,402
43,442
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$36.24
$30.84
  End of period
$39.20
$36.24
 Accumulation units outstanding at the end of period
56,304
61,965
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$12.07
$12.26
  End of period
$11.89
$12.07
 Accumulation units outstanding at the end of period
176,317
155,902
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$28.21
$21.86
  End of period
$30.92
$28.21
 Accumulation units outstanding at the end of period
18,224
19,219
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.60%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.605%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.56
$14.40
  End of period
$16.48
$14.56
 Accumulation units outstanding at the end of period
1,410
1,438
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.59
$10.58
  End of period
$14.68
$13.59
 Accumulation units outstanding at the end of period
310
315
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.54
$8.03
  End of period
$11.73
$10.54
 Accumulation units outstanding at the end of period
3,326
3,597
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.01
$12.35
  End of period
$17.53
$16.01
 Accumulation units outstanding at the end of period
1,951
2,193
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$40.05
$32.47
  End of period
$35.34
$40.05
 Accumulation units outstanding at the end of period
512
573
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.78
$12.18
  End of period
$17.56
$15.78
 Accumulation units outstanding at the end of period
984
1,128
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.16
$7.38
  End of period
$10.88
$9.16
 Accumulation units outstanding at the end of period
313
318
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.27
$14.84
  End of period
$13.49
$13.27
 Accumulation units outstanding at the end of period
1,659
1,691
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.90
$19.61
  End of period
$19.34
$18.90
 Accumulation units outstanding at the end of period
2,576
2,724
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$19.21
$18.04
  End of period
$18.93
$19.21
 Accumulation units outstanding at the end of period
1,959
2,197
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.90
$12.36
  End of period
$17.79
$15.90
 Accumulation units outstanding at the end of period
1,987
2,224
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$13.24
$12.87
  End of period
$13.44
$13.24
 Accumulation units outstanding at the end of period
1,532
1,561
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$69.03
$51.39
  End of period
$76.64
$69.03
 Accumulation units outstanding at the end of period
299
334
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.63%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.54
$11.04
  End of period
$10.49
$10.54
 Accumulation units outstanding at the end of period
383
388
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.95
$11.43
  End of period
$16.21
$14.95
 Accumulation units outstanding at the end of period
295
298
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.44
$10.44
  End of period
$11.87
$12.44
 Accumulation units outstanding at the end of period
327
331
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$13.66
$12.02
  End of period
$13.51
$13.66
 Accumulation units outstanding at the end of period
277
280
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$19.27
$20.30
  End of period
$19.99
$19.27
 Accumulation units outstanding at the end of period
103
104
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.74
$12.15
  End of period
$17.51
$15.74
 Accumulation units outstanding at the end of period
271
274
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.82
$19.54
  End of period
$19.26
$18.82
 Accumulation units outstanding at the end of period
109
111
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.645%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.24
$9.21
  End of period
$11.61
$11.24
 Accumulation units outstanding at the end of period
19,251
17,962
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.34
$10.71
  End of period
$12.79
$12.34
 Accumulation units outstanding at the end of period
26,064
23,552
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.99
$9.94
  End of period
$12.40
$11.99
 Accumulation units outstanding at the end of period
7,969
16,548
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.42
$14.66
  End of period
$16.51
$16.42
 Accumulation units outstanding at the end of period
9,616
10,239
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.87
$15.25
  End of period
$16.91
$16.87
 Accumulation units outstanding at the end of period
26,509
31,029
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.83
$15.50
  End of period
$16.86
$16.83
 Accumulation units outstanding at the end of period
27,275
27,610
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.68
$10.31
  End of period
$11.98
$11.68
 Accumulation units outstanding at the end of period
40,071
27,607
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.51
$11.14
  End of period
$16.41
$14.51
 Accumulation units outstanding at the end of period
15,188
15,379
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.53
$11.04
  End of period
$10.48
$10.53
 Accumulation units outstanding at the end of period
156
226
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.28
$10.33
  End of period
$12.57
$12.28
 Accumulation units outstanding at the end of period
685
691
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.94
$11.43
  End of period
$16.19
$14.94
 Accumulation units outstanding at the end of period
2,013
2,382
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.44
$10.44
  End of period
$11.86
$12.44
 Accumulation units outstanding at the end of period
368
388
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.93
$10.94
  End of period
$10.77
$11.93
 Accumulation units outstanding at the end of period
792
801
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.89
$10.11
  End of period
$9.18
$10.89
 Accumulation units outstanding at the end of period
2,425
2,419
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.83
$10.52
  End of period
$11.85
$11.83
 Accumulation units outstanding at the end of period
15,907
17,701
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.67
$12.08
  End of period
$15.49
$14.67
 Accumulation units outstanding at the end of period
6,999
6,632
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$23.60
$17.75
  End of period
$25.49
$23.60
 Accumulation units outstanding at the end of period
6,791
8,259
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$37.56
$29.27
  End of period
$37.98
$37.56
 Accumulation units outstanding at the end of period
1,152
1,608
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.13
$8.80
  End of period
$8.45
$8.13
 Accumulation units outstanding at the end of period
729
762
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$7.09
$7.38
  End of period
$7.77
$7.09
 Accumulation units outstanding at the end of period
442
449
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.71
$9.60
  End of period
$11.82
$11.71
 Accumulation units outstanding at the end of period
1,821
1,996
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.15
$8.70
  End of period
$10.71
$11.15
 Accumulation units outstanding at the end of period
17,328
17,508
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.87
$11.66
  End of period
$11.63
$11.87
 Accumulation units outstanding at the end of period
-
282
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.60
$12.12
  End of period
$13.80
$13.60
 Accumulation units outstanding at the end of period
10,729
10,404
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.36
$9.00
  End of period
$11.99
$11.36
 Accumulation units outstanding at the end of period
366
370
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.41
$13.93
  End of period
$18.14
$18.41
 Accumulation units outstanding at the end of period
2,608
2,720
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$23.81
$24.46
  End of period
$24.68
$23.81
 Accumulation units outstanding at the end of period
3,007
2,723
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.14
$13.89
  End of period
$20.19
$18.14
 Accumulation units outstanding at the end of period
1,512
2,218
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.51
$14.35
  End of period
$16.42
$14.51
 Accumulation units outstanding at the end of period
2,408
1,835
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.71
$16.84
  End of period
$19.43
$19.71
 Accumulation units outstanding at the end of period
954
968
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.08
$12.44
  End of period
$18.20
$17.08
 Accumulation units outstanding at the end of period
3,041
3,067
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$24.78
$19.24
  End of period
$26.63
$24.78
 Accumulation units outstanding at the end of period
434
440
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$23.46
$17.07
  End of period
$24.92
$23.46
 Accumulation units outstanding at the end of period
2,765
2,062
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.29
$11.75
  End of period
$13.49
$14.29
 Accumulation units outstanding at the end of period
27,245
27,919
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.99
$12.54
  End of period
$13.19
$14.99
 Accumulation units outstanding at the end of period
516
521
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$35.22
$25.21
  End of period
$38.52
$35.22
 Accumulation units outstanding at the end of period
4,458
4,629
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$19.22
$20.25
  End of period
$19.93
$19.22
 Accumulation units outstanding at the end of period
8,157
10,953
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$23.09
$17.15
  End of period
$23.19
$23.09
 Accumulation units outstanding at the end of period
2,690
2,476
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$13.40
$14.01
  End of period
$13.92
$13.40
 Accumulation units outstanding at the end of period
6,945
6,556
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.74
$14.22
  End of period
$21.52
$19.74
 Accumulation units outstanding at the end of period
4,131
4,108
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.51
$10.52
  End of period
$14.59
$13.51
 Accumulation units outstanding at the end of period
7,469
7,001
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.84
$10.44
  End of period
$9.33
$9.84
 Accumulation units outstanding at the end of period
2,499
2,536
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.99
N/A
  End of period
$14.24
N/A
 Accumulation units outstanding at the end of period
841
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.48
$7.99
  End of period
$11.65
$10.48
 Accumulation units outstanding at the end of period
774
842
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.05
$15.30
  End of period
$18.59
$17.05
 Accumulation units outstanding at the end of period
654
665
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$20.21
$14.58
  End of period
$24.88
$20.21
 Accumulation units outstanding at the end of period
2,036
3,120
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$18.12
$15.17
  End of period
$16.74
$18.12
 Accumulation units outstanding at the end of period
1,881
2,972
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.95
$12.31
  End of period
$17.46
$15.95
 Accumulation units outstanding at the end of period
1,589
1,642
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.25
$13.15
  End of period
$21.26
$18.25
 Accumulation units outstanding at the end of period
10,626
8,017
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$39.83
$32.31
  End of period
$35.13
$39.83
 Accumulation units outstanding at the end of period
2,115
2,403
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.96
$10.82
  End of period
$15.48
$14.96
 Accumulation units outstanding at the end of period
2,693
2,817
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$24.04
$18.38
  End of period
$25.84
$24.04
 Accumulation units outstanding at the end of period
1,802
1,663
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.71
$12.13
  End of period
$17.47
$15.71
 Accumulation units outstanding at the end of period
13,063
12,918
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.67
$11.64
  End of period
$15.95
$15.67
 Accumulation units outstanding at the end of period
3,990
3,983
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$21.74
$15.96
  End of period
$22.38
$21.74
 Accumulation units outstanding at the end of period
2,596
2,246
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.11
$7.34
  End of period
$10.81
$9.11
 Accumulation units outstanding at the end of period
13,198
13,494
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.24
$10.42
  End of period
$10.57
$10.24
 Accumulation units outstanding at the end of period
11,117
7,697
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.21
$14.66
  End of period
$18.25
$18.21
 Accumulation units outstanding at the end of period
873
536
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.24
$14.81
  End of period
$13.45
$13.24
 Accumulation units outstanding at the end of period
15,147
19,618
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.78
$19.50
  End of period
$19.21
$18.78
 Accumulation units outstanding at the end of period
9,115
10,770
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.78
$10.51
  End of period
$10.63
$10.78
 Accumulation units outstanding at the end of period
6,263
3,956
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$19.07
$17.92
  End of period
$18.78
$19.07
 Accumulation units outstanding at the end of period
6,184
5,296
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.53
$12.41
  End of period
$19.73
$17.53
 Accumulation units outstanding at the end of period
7,910
9,834
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.98
$13.50
  End of period
$20.54
$18.98
 Accumulation units outstanding at the end of period
2,171
2,047
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.86
$12.33
  End of period
$17.74
$15.86
 Accumulation units outstanding at the end of period
8,417
8,369
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.85
$12.78
  End of period
$21.89
$18.85
 Accumulation units outstanding at the end of period
2,902
2,263
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.06
$15.41
  End of period
$19.98
$19.06
 Accumulation units outstanding at the end of period
4,587
4,306
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$13.19
$12.83
  End of period
$13.38
$13.19
 Accumulation units outstanding at the end of period
14,838
11,161
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.22
$15.94
  End of period
$19.97
$19.22
 Accumulation units outstanding at the end of period
15,582
11,836
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.52
$13.37
  End of period
$14.85
$14.52
 Accumulation units outstanding at the end of period
26,240
44,297
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.28
$16.04
  End of period
$18.79
$18.28
 Accumulation units outstanding at the end of period
42,718
57,308
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$16.12
$10.81
  End of period
$18.38
$16.12
 Accumulation units outstanding at the end of period
6,321
4,422
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$44.99
$32.98
  End of period
$48.11
$44.99
 Accumulation units outstanding at the end of period
5,353
6,071
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$68.56
$51.06
  End of period
$76.10
$68.56
 Accumulation units outstanding at the end of period
2,101
2,368
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.32
$10.48
  End of period
$10.19
$10.32
 Accumulation units outstanding at the end of period
5,769
2,458
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$21.95
$16.27
  End of period
$24.45
$21.95
 Accumulation units outstanding at the end of period
6,999
6,644
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$35.60
$30.33
  End of period
$38.47
$35.60
 Accumulation units outstanding at the end of period
9,870
9,342
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$11.86
$12.06
  End of period
$11.67
$11.86
 Accumulation units outstanding at the end of period
43,873
31,934
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$27.91
$21.65
  End of period
$30.57
$27.91
 Accumulation units outstanding at the end of period
658
667
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.67%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.22
$9.20
  End of period
$11.59
$11.22
 Accumulation units outstanding at the end of period
16,579
16,809
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.32
$10.70
  End of period
$12.77
$12.32
 Accumulation units outstanding at the end of period
26,955
27,404
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.97
$9.92
  End of period
$12.37
$11.97
 Accumulation units outstanding at the end of period
80
80
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.40
$14.64
  End of period
$16.48
$16.40
 Accumulation units outstanding at the end of period
38,556
38,943
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.85
$15.23
  End of period
$16.88
$16.85
 Accumulation units outstanding at the end of period
3,508
7,120
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.81
$15.49
  End of period
$16.84
$16.81
 Accumulation units outstanding at the end of period
28,252
27,307
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.68
$10.30
  End of period
$11.98
$11.68
 Accumulation units outstanding at the end of period
28,475
28,641
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.50
$11.13
  End of period
$16.39
$14.50
 Accumulation units outstanding at the end of period
20,109
17,676
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.53
$11.03
  End of period
$10.47
$10.53
 Accumulation units outstanding at the end of period
933
942
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.74
N/A
  End of period
$12.76
N/A
 Accumulation units outstanding at the end of period
69
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.27
$10.32
  End of period
$12.56
$12.27
 Accumulation units outstanding at the end of period
3,272
3,209
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.93
$11.42
  End of period
$16.17
$14.93
 Accumulation units outstanding at the end of period
12,244
8,446
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.42
$10.43
  End of period
$11.85
$12.42
 Accumulation units outstanding at the end of period
874
460
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.92
$10.93
  End of period
$10.76
$11.92
 Accumulation units outstanding at the end of period
2,940
8,625
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.87
$10.09
  End of period
$9.16
$10.87
 Accumulation units outstanding at the end of period
759
1,460
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.82
$10.51
  End of period
$11.84
$11.82
 Accumulation units outstanding at the end of period
105,608
106,963
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$36.59
$26.77
  End of period
$39.18
$36.59
 Accumulation units outstanding at the end of period
771
802
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.66
$12.08
  End of period
$15.48
$14.66
 Accumulation units outstanding at the end of period
3,026
458
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$33.17
$27.37
  End of period
$33.39
$33.17
 Accumulation units outstanding at the end of period
153
155
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$23.49
$17.67
  End of period
$25.38
$23.49
 Accumulation units outstanding at the end of period
1,620
1,847
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$37.40
$29.15
  End of period
$37.81
$37.40
 Accumulation units outstanding at the end of period
1,393
1,391
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.12
$8.79
  End of period
$8.44
$8.12
 Accumulation units outstanding at the end of period
694
907
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$7.08
$7.37
  End of period
$7.76
$7.08
 Accumulation units outstanding at the end of period
2,788
3,007
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.69
$9.59
  End of period
$11.80
$11.69
 Accumulation units outstanding at the end of period
17,397
16,609
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.86
$11.65
  End of period
$11.62
$11.86
 Accumulation units outstanding at the end of period
4,099
11,153
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.57
$12.10
  End of period
$13.77
$13.57
 Accumulation units outstanding at the end of period
16,326
14,518
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$10.91
$8.38
  End of period
$9.72
$10.91
 Accumulation units outstanding at the end of period
1,922
2,588
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.34
$8.98
  End of period
$11.96
$11.34
 Accumulation units outstanding at the end of period
2,563
2,641
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.37
$13.90
  End of period
$18.09
$18.37
 Accumulation units outstanding at the end of period
2,132
2,151
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$23.70
$24.35
  End of period
$24.56
$23.70
 Accumulation units outstanding at the end of period
5,737
5,139
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.10
$13.87
  End of period
$20.14
$18.10
 Accumulation units outstanding at the end of period
4,082
4,320
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$11.72
$8.88
  End of period
$13.13
$11.72
 Accumulation units outstanding at the end of period
91
91
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.48
$14.33
  End of period
$16.38
$14.48
 Accumulation units outstanding at the end of period
2,641
2,632
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.62
$16.77
  End of period
$19.34
$19.62
 Accumulation units outstanding at the end of period
339
809
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$23.39
$17.03
  End of period
$24.84
$23.39
 Accumulation units outstanding at the end of period
2,617
3,037
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.28
$11.74
  End of period
$13.48
$14.28
 Accumulation units outstanding at the end of period
17,632
17,524
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.93
$12.50
  End of period
$13.14
$14.93
 Accumulation units outstanding at the end of period
1,920
1,832
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$35.06
$25.10
  End of period
$38.34
$35.06
 Accumulation units outstanding at the end of period
1,156
1,031
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$19.13
$20.16
  End of period
$19.83
$19.13
 Accumulation units outstanding at the end of period
1,355
8,348
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$23.01
$17.09
  End of period
$23.10
$23.01
 Accumulation units outstanding at the end of period
1,215
1,254
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$13.36
$13.97
  End of period
$13.88
$13.36
 Accumulation units outstanding at the end of period
2,978
2,933
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$7.26
$6.10
  End of period
$7.54
$7.26
 Accumulation units outstanding at the end of period
2,750
1,984
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.65
$14.16
  End of period
$21.41
$19.65
 Accumulation units outstanding at the end of period
2,071
2,157
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.46
$10.49
  End of period
$14.54
$13.46
 Accumulation units outstanding at the end of period
3,353
3,514
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.83
$10.11
  End of period
$14.52
$13.83
 Accumulation units outstanding at the end of period
65
64
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.84
$10.44
  End of period
$9.32
$9.84
 Accumulation units outstanding at the end of period
5,291
4,983
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.44
$7.96
  End of period
$11.61
$10.44
 Accumulation units outstanding at the end of period
2,134
1,858
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.99
$15.25
  End of period
$18.52
$16.99
 Accumulation units outstanding at the end of period
1,970
2,381
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$20.14
$14.54
  End of period
$24.79
$20.14
 Accumulation units outstanding at the end of period
5,478
5,537
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.55
$10.32
  End of period
$13.00
$12.55
 Accumulation units outstanding at the end of period
1,641
1,658
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$18.07
$15.13
  End of period
$16.69
$18.07
 Accumulation units outstanding at the end of period
1,344
1,708
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.46
N/A
  End of period
$13.11
N/A
 Accumulation units outstanding at the end of period
1,727
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.20
$13.12
  End of period
$21.20
$18.20
 Accumulation units outstanding at the end of period
2,762
3,028
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$39.69
$32.19
  End of period
$34.99
$39.69
 Accumulation units outstanding at the end of period
4,199
4,119
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.27
$13.78
  End of period
$15.50
$15.27
 Accumulation units outstanding at the end of period
520
527
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$23.97
$18.33
  End of period
$25.75
$23.97
 Accumulation units outstanding at the end of period
1,753
2,245
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.66
$12.10
  End of period
$17.42
$15.66
 Accumulation units outstanding at the end of period
15,784
18,569
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$21.68
$15.92
  End of period
$22.31
$21.68
 Accumulation units outstanding at the end of period
2,375
2,189
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.08
$7.32
  End of period
$10.77
$9.08
 Accumulation units outstanding at the end of period
9,840
5,316
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.45
N/A
  End of period
$14.25
N/A
 Accumulation units outstanding at the end of period
6,400
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.84
$9.48
  End of period
$12.58
$12.84
 Accumulation units outstanding at the end of period
2,128
2,177
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.24
$10.42
  End of period
$10.56
$10.24
 Accumulation units outstanding at the end of period
9,530
3,632
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.16
$14.62
  End of period
$18.20
$18.16
 Accumulation units outstanding at the end of period
1,110
956
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.21
$14.79
  End of period
$13.42
$13.21
 Accumulation units outstanding at the end of period
6,650
6,533
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.71
$19.42
  End of period
$19.13
$18.71
 Accumulation units outstanding at the end of period
18,212
23,208
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.77
$10.50
  End of period
$10.62
$10.77
 Accumulation units outstanding at the end of period
5,654
24,959
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$19.03
$17.88
  End of period
$18.73
$19.03
 Accumulation units outstanding at the end of period
11,836
15,373
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.84
$10.99
  End of period
$15.45
$14.84
 Accumulation units outstanding at the end of period
2,068
2,239
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.50
$12.39
  End of period
$19.69
$17.50
 Accumulation units outstanding at the end of period
7,993
6,149
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.95
$13.48
  End of period
$20.51
$18.95
 Accumulation units outstanding at the end of period
3,551
3,324
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.84
$12.32
  End of period
$17.71
$15.84
 Accumulation units outstanding at the end of period
15,862
17,494
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.83
$12.77
  End of period
$21.85
$18.83
 Accumulation units outstanding at the end of period
1,538
5,426
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.99
$15.35
  End of period
$19.90
$18.99
 Accumulation units outstanding at the end of period
1,393
1,435
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$13.16
$12.80
  End of period
$13.35
$13.16
 Accumulation units outstanding at the end of period
42,827
40,716
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.14
$15.88
  End of period
$19.89
$19.14
 Accumulation units outstanding at the end of period
36,363
29,761
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.49
$13.34
  End of period
$14.81
$14.49
 Accumulation units outstanding at the end of period
24,697
24,769
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.20
$15.98
  End of period
$18.71
$18.20
 Accumulation units outstanding at the end of period
23,576
26,407
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$16.10
$10.79
  End of period
$18.35
$16.10
 Accumulation units outstanding at the end of period
2,714
5,867
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$44.78
$32.84
  End of period
$47.87
$44.78
 Accumulation units outstanding at the end of period
6,191
3,621
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$68.25
$50.84
  End of period
$75.72
$68.25
 Accumulation units outstanding at the end of period
3,838
3,153
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.30
$10.46
  End of period
$10.17
$10.30
 Accumulation units outstanding at the end of period
2,297
6,816
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$21.87
$16.22
  End of period
$24.36
$21.87
 Accumulation units outstanding at the end of period
4,637
3,716
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$35.43
$30.19
  End of period
$38.28
$35.43
 Accumulation units outstanding at the end of period
6,127
5,896
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$11.80
$12.00
  End of period
$11.61
$11.80
 Accumulation units outstanding at the end of period
27,182
34,806
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$27.83
$21.60
  End of period
$30.47
$27.83
 Accumulation units outstanding at the end of period
540
706
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.695%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.70%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.71%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.72%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.76%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.15
$9.15
  End of period
$11.50
$11.15
 Accumulation units outstanding at the end of period
1,747
1,926
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.24
$10.64
  End of period
$12.67
$12.24
 Accumulation units outstanding at the end of period
799
857
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.88
$11.39
  End of period
$16.11
$14.88
 Accumulation units outstanding at the end of period
638
749
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.07
$8.64
  End of period
$10.62
$11.07
 Accumulation units outstanding at the end of period
1,813
1,971
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.48
$12.03
  End of period
$13.67
$13.48
 Accumulation units outstanding at the end of period
1,415
1,545
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.27
$8.94
  End of period
$11.88
$11.27
 Accumulation units outstanding at the end of period
1,700
1,896
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$23.30
$23.97
  End of period
$24.13
$23.30
 Accumulation units outstanding at the end of period
423
427
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.84
$12.28
  End of period
$17.93
$16.84
 Accumulation units outstanding at the end of period
1,156
1,377
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$18.81
$19.84
  End of period
$19.48
$18.81
 Accumulation units outstanding at the end of period
528
518
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.31
$7.87
  End of period
$11.45
$10.31
 Accumulation units outstanding at the end of period
951
1,046
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$21.44
$15.76
  End of period
$22.05
$21.44
 Accumulation units outstanding at the end of period
480
516
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.13
$14.71
  End of period
$13.33
$13.13
 Accumulation units outstanding at the end of period
1,472
1,481
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.44
$19.17
  End of period
$18.84
$18.44
 Accumulation units outstanding at the end of period
1,084
1,072
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.72
$15.15
  End of period
$19.60
$18.72
 Accumulation units outstanding at the end of period
759
604
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$13.05
$12.71
  End of period
$13.22
$13.05
 Accumulation units outstanding at the end of period
19,417
20,302
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.87
$15.67
  End of period
$19.59
$18.87
 Accumulation units outstanding at the end of period
3,323
3,358
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.37
$13.24
  End of period
$14.68
$14.37
 Accumulation units outstanding at the end of period
17,564
18,592
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$34.84
$29.72
  End of period
$37.61
$34.84
 Accumulation units outstanding at the end of period
2,957
3,108
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.795%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.12
$9.13
  End of period
$11.47
$11.12
 Accumulation units outstanding at the end of period
19,021
19,886
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.21
$10.62
  End of period
$12.64
$12.21
 Accumulation units outstanding at the end of period
64,032
33,666
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.30
$14.57
  End of period
$16.37
$16.30
 Accumulation units outstanding at the end of period
15,139
16,849
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.75
$15.16
  End of period
$16.76
$16.75
 Accumulation units outstanding at the end of period
89,125
55,993
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.71
$15.42
  End of period
$16.72
$16.71
 Accumulation units outstanding at the end of period
11,112
26,251
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.43
$11.09
  End of period
$16.30
$14.43
 Accumulation units outstanding at the end of period
36,989
35,451
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.48
$10.99
  End of period
$10.41
$10.48
 Accumulation units outstanding at the end of period
4,504
6,732
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.68
$10.10
  End of period
$12.68
$12.68
 Accumulation units outstanding at the end of period
15,588
32,559
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.25
$10.32
  End of period
$12.52
$12.25
 Accumulation units outstanding at the end of period
39,079
41,292
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.86
$11.38
  End of period
$16.08
$14.86
 Accumulation units outstanding at the end of period
96,180
97,253
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.37
$10.40
  End of period
$11.78
$12.37
 Accumulation units outstanding at the end of period
30,392
31,780
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.86
$10.89
  End of period
$10.70
$11.86
 Accumulation units outstanding at the end of period
26,906
28,130
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.77
$10.02
  End of period
$9.07
$10.77
 Accumulation units outstanding at the end of period
69,392
41,548
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.77
$10.48
  End of period
$11.77
$11.77
 Accumulation units outstanding at the end of period
170,184
156,427
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$13.36
$11.77
  End of period
$13.19
$13.36
 Accumulation units outstanding at the end of period
19,533
20,034
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$32.41
$26.78
  End of period
$32.58
$32.41
 Accumulation units outstanding at the end of period
4,082
2,569
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$22.99
$17.32
  End of period
$24.80
$22.99
 Accumulation units outstanding at the end of period
7,952
22,008
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$36.60
$28.56
  End of period
$36.96
$36.60
 Accumulation units outstanding at the end of period
9,471
22,547
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.06
$8.73
  End of period
$8.36
$8.06
 Accumulation units outstanding at the end of period
11,973
6,688
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$7.03
$7.33
  End of period
$7.69
$7.03
 Accumulation units outstanding at the end of period
-
57,161
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.58
$9.51
  End of period
$11.68
$11.58
 Accumulation units outstanding at the end of period
47,662
7,262
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.04
$8.62
  End of period
$10.59
$11.04
 Accumulation units outstanding at the end of period
31,707
11,207
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.83
$11.64
  End of period
$11.57
$11.83
 Accumulation units outstanding at the end of period
29,980
27,812
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.44
$12.00
  End of period
$13.62
$13.44
 Accumulation units outstanding at the end of period
18,641
3,902
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$10.83
$8.32
  End of period
$9.63
$10.83
 Accumulation units outstanding at the end of period
5,973
5,160
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.24
$8.92
  End of period
$11.84
$11.24
 Accumulation units outstanding at the end of period
13,441
11,388
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.17
$13.77
  End of period
$17.88
$18.17
 Accumulation units outstanding at the end of period
2,836
13,058
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$23.15
$23.82
  End of period
$23.97
$23.15
 Accumulation units outstanding at the end of period
7,690
1,566
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.91
$13.74
  End of period
$19.90
$17.91
 Accumulation units outstanding at the end of period
44,449
71,587
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$11.62
N/A
  End of period
$13.00
N/A
 Accumulation units outstanding at the end of period
39,134
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.32
$14.19
  End of period
$16.18
$14.32
 Accumulation units outstanding at the end of period
42,919
31,576
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.17
$16.40
  End of period
$18.87
$19.17
 Accumulation units outstanding at the end of period
4,280
3,330
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.77
$12.23
  End of period
$17.84
$16.77
 Accumulation units outstanding at the end of period
22,179
16,661
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$24.20
$18.82
  End of period
$25.97
$24.20
 Accumulation units outstanding at the end of period
15,498
1,522
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$23.04
$16.79
  End of period
$24.44
$23.04
 Accumulation units outstanding at the end of period
22,383
12,496
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.20
$11.69
  End of period
$13.39
$14.20
 Accumulation units outstanding at the end of period
66,020
51,166
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.64
$12.27
  End of period
$12.86
$14.64
 Accumulation units outstanding at the end of period
12,334
11,875
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$34.25
$24.55
  End of period
$37.41
$34.25
 Accumulation units outstanding at the end of period
11,009
11,189
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$18.69
$19.72
  End of period
$19.35
$18.69
 Accumulation units outstanding at the end of period
2,379
2,501
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$22.59
$16.81
  End of period
$22.66
$22.59
 Accumulation units outstanding at the end of period
21,978
26,696
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$13.17
$13.78
  End of period
$13.66
$13.17
 Accumulation units outstanding at the end of period
10,155
8,163
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$7.13
$6.00
  End of period
$7.39
$7.13
 Accumulation units outstanding at the end of period
43,365
15,387
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.32
$13.94
  End of period
$21.03
$19.32
 Accumulation units outstanding at the end of period
26,293
34,792
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.22
$10.31
  End of period
$14.26
$13.22
 Accumulation units outstanding at the end of period
18,377
32,630
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.80
N/A
  End of period
$14.46
N/A
 Accumulation units outstanding at the end of period
10,139
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.81
$10.42
  End of period
$9.28
$9.81
 Accumulation units outstanding at the end of period
37,518
75,925
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.87
N/A
  End of period
$14.11
N/A
 Accumulation units outstanding at the end of period
10,230
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.25
$7.83
  End of period
$11.39
$10.25
 Accumulation units outstanding at the end of period
-
19,780
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.68
$14.99
  End of period
$18.17
$16.68
 Accumulation units outstanding at the end of period
8,133
10,090
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.78
$14.29
  End of period
$24.31
$19.78
 Accumulation units outstanding at the end of period
63,584
30,486
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$17.80
$14.93
  End of period
$16.42
$17.80
 Accumulation units outstanding at the end of period
14,462
7,379
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.73
$12.16
  End of period
$17.20
$15.73
 Accumulation units outstanding at the end of period
77,111
18,490
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.34
N/A
  End of period
$12.97
N/A
 Accumulation units outstanding at the end of period
16,433
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$18.00
$12.98
  End of period
$20.93
$18.00
 Accumulation units outstanding at the end of period
20,292
18,711
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$38.98
$31.66
  End of period
$34.32
$38.98
 Accumulation units outstanding at the end of period
12,225
18,874
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.17
$13.71
  End of period
$15.38
$15.17
 Accumulation units outstanding at the end of period
6,272
6,596
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.79
$10.72
  End of period
$15.28
$14.79
 Accumulation units outstanding at the end of period
9,154
17,045
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$23.62
$18.08
  End of period
$25.34
$23.62
 Accumulation units outstanding at the end of period
5,733
6,052
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.43
$11.93
  End of period
$17.14
$15.43
 Accumulation units outstanding at the end of period
8,754
9,171
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.51
$11.54
  End of period
$15.77
$15.51
 Accumulation units outstanding at the end of period
32,115
17,747
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$21.35
$15.70
  End of period
$21.95
$21.35
 Accumulation units outstanding at the end of period
12,680
13,700
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.92
$7.19
  End of period
$10.56
$8.92
 Accumulation units outstanding at the end of period
23,723
32,772
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.81
$9.47
  End of period
$12.54
$12.81
 Accumulation units outstanding at the end of period
-
41,963
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.22
$10.41
  End of period
$10.53
$10.22
 Accumulation units outstanding at the end of period
43,919
20,488
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.87
$14.41
  End of period
$17.88
$17.87
 Accumulation units outstanding at the end of period
20,325
5,957
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.10
$14.68
  End of period
$13.29
$13.10
 Accumulation units outstanding at the end of period
59,948
67,592
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.34
$19.07
  End of period
$18.73
$18.34
 Accumulation units outstanding at the end of period
41,367
33,707
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.73
$10.47
  End of period
$10.56
$10.73
 Accumulation units outstanding at the end of period
42,421
44,049
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.65
$17.55
  End of period
$18.34
$18.65
 Accumulation units outstanding at the end of period
41,673
27,075
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.93
$10.78
  End of period
$16.20
$14.93
 Accumulation units outstanding at the end of period
20,548
7,236
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.73
$10.92
  End of period
$15.32
$14.73
 Accumulation units outstanding at the end of period
12,143
27,291
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.37
$12.31
  End of period
$19.52
$17.37
 Accumulation units outstanding at the end of period
141,505
125,362
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.80
$13.39
  End of period
$20.33
$18.80
 Accumulation units outstanding at the end of period
48,031
27,698
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.72
$12.24
  End of period
$17.56
$15.72
 Accumulation units outstanding at the end of period
54,530
35,927
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.68
$12.68
  End of period
$21.66
$18.68
 Accumulation units outstanding at the end of period
63,161
33,950
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.62
$15.07
  End of period
$19.49
$18.62
 Accumulation units outstanding at the end of period
11,406
11,951
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.77
$15.59
  End of period
$19.48
$18.77
 Accumulation units outstanding at the end of period
90,590
104,566
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.32
N/A
  End of period
$14.62
N/A
 Accumulation units outstanding at the end of period
27,318
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.85
$15.69
  End of period
$18.32
$17.85
 Accumulation units outstanding at the end of period
308,303
234,847
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$15.98
$10.72
  End of period
$18.19
$15.98
 Accumulation units outstanding at the end of period
39,448
11,386
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$43.75
$32.12
  End of period
$46.71
$43.75
 Accumulation units outstanding at the end of period
15,604
21,482
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$66.68
$49.73
  End of period
$73.89
$66.68
 Accumulation units outstanding at the end of period
13,650
16,260
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.20
$10.37
  End of period
$10.06
$10.20
 Accumulation units outstanding at the end of period
37,770
104,113
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$21.50
$15.96
  End of period
$23.92
$21.50
 Accumulation units outstanding at the end of period
54,058
34,478
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$34.62
$29.54
  End of period
$37.36
$34.62
 Accumulation units outstanding at the end of period
28,765
37,116
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$11.53
$11.74
  End of period
$11.33
$11.53
 Accumulation units outstanding at the end of period
7,577
34,202
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$27.44
$21.32
  End of period
$30.01
$27.44
 Accumulation units outstanding at the end of period
2,359
1,987
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.81%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.11
$9.12
  End of period
$11.45
$11.11
 Accumulation units outstanding at the end of period
804
810
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.20
$10.61
  End of period
$12.62
$12.20
 Accumulation units outstanding at the end of period
10,731
11,121
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.86
$9.84
  End of period
$12.23
$11.86
 Accumulation units outstanding at the end of period
506
512
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.29
$14.57
  End of period
$16.35
$16.29
 Accumulation units outstanding at the end of period
18,824
14,734
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.74
$15.15
  End of period
$16.75
$16.74
 Accumulation units outstanding at the end of period
8,675
7,716
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.70
$15.41
  End of period
$16.71
$16.70
 Accumulation units outstanding at the end of period
36,826
39,577
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.65
$10.30
  End of period
$11.93
$11.65
 Accumulation units outstanding at the end of period
5,267
7,791
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.42
$11.09
  End of period
$16.29
$14.42
 Accumulation units outstanding at the end of period
22,137
18,331
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.47
$10.99
  End of period
$10.40
$10.47
 Accumulation units outstanding at the end of period
17,931
11,021
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.68
$10.09
  End of period
$12.67
$12.68
 Accumulation units outstanding at the end of period
1,522
1,543
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.24
$10.31
  End of period
$12.51
$12.24
 Accumulation units outstanding at the end of period
25,357
24,306
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.85
$11.38
  End of period
$16.07
$14.85
 Accumulation units outstanding at the end of period
28,986
30,405
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.36
$10.39
  End of period
$11.77
$12.36
 Accumulation units outstanding at the end of period
17,402
17,376
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.86
$10.89
  End of period
$10.69
$11.86
 Accumulation units outstanding at the end of period
8,397
6,360
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.76
$10.01
  End of period
$9.06
$10.76
 Accumulation units outstanding at the end of period
10,438
14,678
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.76
$10.48
  End of period
$11.77
$11.76
 Accumulation units outstanding at the end of period
41,268
44,277
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$35.65
$26.12
  End of period
$38.12
$35.65
 Accumulation units outstanding at the end of period
271
283
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.62
$12.06
  End of period
$15.41
$14.62
 Accumulation units outstanding at the end of period
4,490
5,129
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$13.33
$11.75
  End of period
$13.16
$13.33
 Accumulation units outstanding at the end of period
672
592
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$32.32
$26.71
  End of period
$32.49
$32.32
 Accumulation units outstanding at the end of period
635
625
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$36.51
$28.49
  End of period
$36.86
$36.51
 Accumulation units outstanding at the end of period
2,890
4,106
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.05
$8.73
  End of period
$8.35
$8.05
 Accumulation units outstanding at the end of period
3,235
3,167
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$7.02
$7.32
  End of period
$7.68
$7.02
 Accumulation units outstanding at the end of period
7,097
11,375
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.57
$9.51
  End of period
$11.67
$11.57
 Accumulation units outstanding at the end of period
49,332
51,545
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.03
$8.61
  End of period
$10.57
$11.03
 Accumulation units outstanding at the end of period
2,750
2,920
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.83
$11.64
  End of period
$11.57
$11.83
 Accumulation units outstanding at the end of period
8,654
16,697
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.43
$11.99
  End of period
$13.61
$13.43
 Accumulation units outstanding at the end of period
39,485
45,312
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$10.82
$8.32
  End of period
$9.62
$10.82
 Accumulation units outstanding at the end of period
7,431
9,883
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.23
$8.91
  End of period
$11.83
$11.23
 Accumulation units outstanding at the end of period
17,048
16,939
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.15
$13.75
  End of period
$17.85
$18.15
 Accumulation units outstanding at the end of period
6,886
6,137
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$23.09
$23.76
  End of period
$23.90
$23.09
 Accumulation units outstanding at the end of period
1,682
1,694
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.88
$13.72
  End of period
$19.87
$17.88
 Accumulation units outstanding at the end of period
5,513
4,807
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$11.60
$8.81
  End of period
$12.98
$11.60
 Accumulation units outstanding at the end of period
2,396
2,488
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.30
$14.17
  End of period
$16.16
$14.30
 Accumulation units outstanding at the end of period
7,055
8,816
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$19.11
$16.36
  End of period
$18.82
$19.11
 Accumulation units outstanding at the end of period
1,996
2,055
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.74
$12.21
  End of period
$17.81
$16.74
 Accumulation units outstanding at the end of period
7,928
9,107
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$24.14
$18.78
  End of period
$25.90
$24.14
 Accumulation units outstanding at the end of period
1,381
2,558
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$23.00
$16.76
  End of period
$24.39
$23.00
 Accumulation units outstanding at the end of period
4,015
3,783
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.19
$11.69
  End of period
$13.38
$14.19
 Accumulation units outstanding at the end of period
14,856
11,850
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.60
$12.24
  End of period
$12.83
$14.60
 Accumulation units outstanding at the end of period
782
810
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$34.15
$24.49
  End of period
$37.30
$34.15
 Accumulation units outstanding at the end of period
890
722
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$18.64
$19.67
  End of period
$19.29
$18.64
 Accumulation units outstanding at the end of period
5,584
6,003
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$22.55
$16.77
  End of period
$22.60
$22.55
 Accumulation units outstanding at the end of period
1,988
2,120
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$13.14
$13.76
  End of period
$13.63
$13.14
 Accumulation units outstanding at the end of period
5,255
4,978
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$7.12
$5.99
  End of period
$7.38
$7.12
 Accumulation units outstanding at the end of period
5,980
5,526
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.28
$13.91
  End of period
$20.98
$19.28
 Accumulation units outstanding at the end of period
7,179
8,658
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.19
$10.29
  End of period
$14.23
$13.19
 Accumulation units outstanding at the end of period
2,469
4,133
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.80
N/A
  End of period
$14.46
N/A
 Accumulation units outstanding at the end of period
1,286
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.81
$10.42
  End of period
$9.28
$9.81
 Accumulation units outstanding at the end of period
31,347
32,344
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.86
$11.58
  End of period
$14.09
$14.86
 Accumulation units outstanding at the end of period
1,742
198
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.23
$7.81
  End of period
$11.36
$10.23
 Accumulation units outstanding at the end of period
3,592
3,890
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.65
$14.96
  End of period
$18.12
$16.65
 Accumulation units outstanding at the end of period
193
184
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.74
$14.26
  End of period
$24.26
$19.74
 Accumulation units outstanding at the end of period
15,633
17,746
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$17.77
$14.90
  End of period
$16.39
$17.77
 Accumulation units outstanding at the end of period
41,794
39,917
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.71
$12.14
  End of period
$17.17
$15.71
 Accumulation units outstanding at the end of period
13,875
14,943
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.97
$12.97
  End of period
$20.90
$17.97
 Accumulation units outstanding at the end of period
5,243
2,602
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$38.89
$31.59
  End of period
$34.24
$38.89
 Accumulation units outstanding at the end of period
6,640
5,274
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.16
$13.70
  End of period
$15.36
$15.16
 Accumulation units outstanding at the end of period
-
269
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.77
$10.71
  End of period
$15.26
$14.77
 Accumulation units outstanding at the end of period
540
1,444
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$23.57
$18.05
  End of period
$25.29
$23.57
 Accumulation units outstanding at the end of period
25,171
27,076
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.40
$11.91
  End of period
$17.10
$15.40
 Accumulation units outstanding at the end of period
52,097
55,321
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.50
$11.53
  End of period
$15.75
$15.50
 Accumulation units outstanding at the end of period
602
635
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$21.32
$15.68
  End of period
$21.91
$21.32
 Accumulation units outstanding at the end of period
26,715
28,352
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.90
$7.18
  End of period
$10.54
$8.90
 Accumulation units outstanding at the end of period
10,750
11,132
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.28
$10.03
  End of period
$14.05
$13.28
 Accumulation units outstanding at the end of period
4
1
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.81
$9.47
  End of period
$12.53
$12.81
 Accumulation units outstanding at the end of period
560
565
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.22
$10.41
  End of period
$10.52
$10.22
 Accumulation units outstanding at the end of period
1,691
1,102
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.83
$14.38
  End of period
$17.85
$17.83
 Accumulation units outstanding at the end of period
4,791
6,559
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.09
$14.66
  End of period
$13.28
$13.09
 Accumulation units outstanding at the end of period
36,043
36,782
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.30
$19.02
  End of period
$18.68
$18.30
 Accumulation units outstanding at the end of period
73,986
54,625
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.73
$10.47
  End of period
$10.56
$10.73
 Accumulation units outstanding at the end of period
34,395
56,549
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.61
$17.51
  End of period
$18.30
$18.61
 Accumulation units outstanding at the end of period
10,215
11,766
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.92
$10.77
  End of period
$16.18
$14.92
 Accumulation units outstanding at the end of period
5,817
6,059
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.72
$10.91
  End of period
$15.30
$14.72
 Accumulation units outstanding at the end of period
736
1,304
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$24.96
$18.13
  End of period
$27.58
$24.96
 Accumulation units outstanding at the end of period
1,353
1,366
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.35
$12.30
  End of period
$19.50
$17.35
 Accumulation units outstanding at the end of period
16,476
20,016
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.79
$13.38
  End of period
$20.31
$18.79
 Accumulation units outstanding at the end of period
15,630
17,182
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.71
$12.23
  End of period
$17.54
$15.71
 Accumulation units outstanding at the end of period
29,804
34,345
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.67
$12.68
  End of period
$21.64
$18.67
 Accumulation units outstanding at the end of period
2,968
2,937
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.57
$15.04
  End of period
$19.44
$18.57
 Accumulation units outstanding at the end of period
336
505
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$12.99
$12.66
  End of period
$13.16
$12.99
 Accumulation units outstanding at the end of period
10,894
9,538
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.73
$15.56
  End of period
$19.43
$18.73
 Accumulation units outstanding at the end of period
27,709
28,073
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.30
$13.19
  End of period
$14.60
$14.30
 Accumulation units outstanding at the end of period
31,894
32,102
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.81
$15.65
  End of period
$18.28
$17.81
 Accumulation units outstanding at the end of period
83,942
80,091
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$15.96
$10.72
  End of period
$18.17
$15.96
 Accumulation units outstanding at the end of period
6,898
6,850
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$43.63
$32.04
  End of period
$46.58
$43.63
 Accumulation units outstanding at the end of period
10,334
8,940
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$66.49
$49.60
  End of period
$73.67
$66.49
 Accumulation units outstanding at the end of period
3,408
2,413
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.19
$10.36
  End of period
$10.05
$10.19
 Accumulation units outstanding at the end of period
43,410
22,206
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$21.46
$15.93
  End of period
$23.86
$21.46
 Accumulation units outstanding at the end of period
13,489
13,675
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$34.52
$29.46
  End of period
$37.25
$34.52
 Accumulation units outstanding at the end of period
7,618
8,204
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$11.50
$11.71
  End of period
$11.29
$11.50
 Accumulation units outstanding at the end of period
64,495
75,921
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$27.40
$21.29
  End of period
$29.95
$27.40
 Accumulation units outstanding at the end of period
1,459
2,168
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.82%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.845%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.85%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.08
$9.10
  End of period
$11.42
$11.08
 Accumulation units outstanding at the end of period
9,055
9,254
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.26
$14.54
  End of period
$16.31
$16.26
 Accumulation units outstanding at the end of period
39
24
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.70
$15.13
  End of period
$16.71
$16.70
 Accumulation units outstanding at the end of period
117
118
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.67
$15.39
  End of period
$16.67
$16.67
 Accumulation units outstanding at the end of period
2,368
3,712
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.64
$10.29
  End of period
$11.92
$11.64
 Accumulation units outstanding at the end of period
18,482
3,143
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.40
$11.08
  End of period
$16.26
$14.40
 Accumulation units outstanding at the end of period
3,112
4,598
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.46
N/A
  End of period
$10.39
N/A
 Accumulation units outstanding at the end of period
1,719
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.66
$10.08
  End of period
$12.65
$12.66
 Accumulation units outstanding at the end of period
64
61
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.23
$10.31
  End of period
$12.50
$12.23
 Accumulation units outstanding at the end of period
316
270
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.83
$11.36
  End of period
$16.04
$14.83
 Accumulation units outstanding at the end of period
23,513
28,948
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.34
$10.38
  End of period
$11.75
$12.34
 Accumulation units outstanding at the end of period
9,071
8,625
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.84
$10.88
  End of period
$10.67
$11.84
 Accumulation units outstanding at the end of period
-
195
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.73
$9.98
  End of period
$9.03
$10.73
 Accumulation units outstanding at the end of period
8,561
3,804
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.75
$10.47
  End of period
$11.75
$11.75
 Accumulation units outstanding at the end of period
9,547
12,111
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$35.38
$25.93
  End of period
$37.82
$35.38
 Accumulation units outstanding at the end of period
-
407
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.61
$12.06
  End of period
$15.40
$14.61
 Accumulation units outstanding at the end of period
-
126
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$36.25
$28.31
  End of period
$36.59
$36.25
 Accumulation units outstanding at the end of period
3,259
2,934
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.03
$8.71
  End of period
$8.33
$8.03
 Accumulation units outstanding at the end of period
588
789
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$7.00
$7.31
  End of period
$7.66
$7.00
 Accumulation units outstanding at the end of period
682
938
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.00
$8.59
  End of period
$10.54
$11.00
 Accumulation units outstanding at the end of period
397
433
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.82
$11.63
  End of period
$11.55
$11.82
 Accumulation units outstanding at the end of period
149
556
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.39
$11.95
  End of period
$13.56
$13.39
 Accumulation units outstanding at the end of period
941
2,284
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.20
$8.89
  End of period
$11.79
$11.20
 Accumulation units outstanding at the end of period
156
1,417
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.09
$13.71
  End of period
$17.78
$18.09
 Accumulation units outstanding at the end of period
6,177
5,287
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$22.92
$23.59
  End of period
$23.71
$22.92
 Accumulation units outstanding at the end of period
1,553
2,250
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.82
$13.68
  End of period
$19.79
$17.82
 Accumulation units outstanding at the end of period
4,963
7,264
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$11.57
$8.78
  End of period
$12.94
$11.57
 Accumulation units outstanding at the end of period
17,836
12,723
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.25
$14.13
  End of period
$16.10
$14.25
 Accumulation units outstanding at the end of period
2,180
2,212
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.97
$16.24
  End of period
$18.67
$18.97
 Accumulation units outstanding at the end of period
275
306
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.66
$12.16
  End of period
$17.72
$16.66
 Accumulation units outstanding at the end of period
5,341
7,980
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$23.99
$18.67
  End of period
$25.73
$23.99
 Accumulation units outstanding at the end of period
388
328
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$22.88
$16.69
  End of period
$24.26
$22.88
 Accumulation units outstanding at the end of period
4,350
6,182
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.17
$11.67
  End of period
$13.35
$14.17
 Accumulation units outstanding at the end of period
1,569
14,663
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$33.90
N/A
  End of period
$37.01
N/A
 Accumulation units outstanding at the end of period
66
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$18.50
$19.53
  End of period
$19.14
$18.50
 Accumulation units outstanding at the end of period
2,239
1,313
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$22.41
$16.68
  End of period
$22.46
$22.41
 Accumulation units outstanding at the end of period
4,249
6,083
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$13.08
$13.70
  End of period
$13.56
$13.08
 Accumulation units outstanding at the end of period
-
1,573
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$7.08
$5.96
  End of period
$7.33
$7.08
 Accumulation units outstanding at the end of period
1,213
1,561
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.19
$13.85
  End of period
$20.87
$19.19
 Accumulation units outstanding at the end of period
7,565
5,584
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.12
$10.24
  End of period
$14.14
$13.12
 Accumulation units outstanding at the end of period
1,188
1,027
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.79
$10.09
  End of period
$14.44
$13.79
 Accumulation units outstanding at the end of period
7,193
4,883
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.80
$10.41
  End of period
$9.26
$9.80
 Accumulation units outstanding at the end of period
592
687
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.83
$11.56
  End of period
$14.06
$14.83
 Accumulation units outstanding at the end of period
709
871
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.17
$7.77
  End of period
$11.29
$10.17
 Accumulation units outstanding at the end of period
10,759
8,878
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.55
$14.88
  End of period
$18.01
$16.55
 Accumulation units outstanding at the end of period
186
331
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.62
$14.19
  End of period
$24.11
$19.62
 Accumulation units outstanding at the end of period
7,612
5,541
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.65
$12.10
  End of period
$17.10
$15.65
 Accumulation units outstanding at the end of period
1,268
1,717
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.90
$12.93
  End of period
$20.82
$17.90
 Accumulation units outstanding at the end of period
2,567
1,966
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$38.67
$31.42
  End of period
$34.03
$38.67
 Accumulation units outstanding at the end of period
546
982
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.73
$10.68
  End of period
$15.21
$14.73
 Accumulation units outstanding at the end of period
6,137
8,949
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$23.46
$17.97
  End of period
$25.16
$23.46
 Accumulation units outstanding at the end of period
5,244
5,180
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.33
$11.86
  End of period
$17.01
$15.33
 Accumulation units outstanding at the end of period
1,943
7,399
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.85
$7.14
  End of period
$10.48
$8.85
 Accumulation units outstanding at the end of period
3,430
4,489
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.80
$9.47
  End of period
$12.52
$12.80
 Accumulation units outstanding at the end of period
202
207
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.21
$10.41
  End of period
$10.51
$10.21
 Accumulation units outstanding at the end of period
196
201
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.74
$14.32
  End of period
$17.75
$17.74
 Accumulation units outstanding at the end of period
44
44
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.05
$14.63
  End of period
$13.23
$13.05
 Accumulation units outstanding at the end of period
6,125
12,694
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.18
$18.91
  End of period
$18.56
$18.18
 Accumulation units outstanding at the end of period
6,186
8,818
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.71
$10.46
  End of period
$10.54
$10.71
 Accumulation units outstanding at the end of period
575
668
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.49
$17.41
  End of period
$18.18
$18.49
 Accumulation units outstanding at the end of period
235
1,609
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.89
$10.75
  End of period
$16.14
$14.89
 Accumulation units outstanding at the end of period
5,681
4,527
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$24.77
$18.00
  End of period
$27.36
$24.77
 Accumulation units outstanding at the end of period
4,382
6,143
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.31
$12.28
  End of period
$19.44
$17.31
 Accumulation units outstanding at the end of period
4,979
5,358
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.74
$13.36
  End of period
$20.25
$18.74
 Accumulation units outstanding at the end of period
5,053
4,430
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.67
$12.20
  End of period
$17.49
$15.67
 Accumulation units outstanding at the end of period
1,080
1,382
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.62
$12.65
  End of period
$21.58
$18.62
 Accumulation units outstanding at the end of period
7,410
6,492
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$12.94
$12.62
  End of period
$13.10
$12.94
 Accumulation units outstanding at the end of period
10,396
14,186
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.60
$15.46
  End of period
$19.29
$18.60
 Accumulation units outstanding at the end of period
24,623
27,597
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.25
$13.14
  End of period
$14.54
$14.25
 Accumulation units outstanding at the end of period
19
29
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.70
$15.56
  End of period
$18.15
$17.70
 Accumulation units outstanding at the end of period
57,034
61,654
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$15.93
$10.70
  End of period
$18.12
$15.93
 Accumulation units outstanding at the end of period
5,442
4,768
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$43.30
$31.81
  End of period
$46.21
$43.30
 Accumulation units outstanding at the end of period
4,360
5,503
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$66.00
$49.25
  End of period
$73.10
$66.00
 Accumulation units outstanding at the end of period
1,477
1,291
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.16
$10.34
  End of period
$10.01
$10.16
 Accumulation units outstanding at the end of period
1,812
5,330
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$21.34
$15.85
  End of period
$23.72
$21.34
 Accumulation units outstanding at the end of period
14,670
15,448
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$34.27
$29.25
  End of period
$36.96
$34.27
 Accumulation units outstanding at the end of period
1,633
2,854
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$11.40
$11.62
  End of period
$11.20
$11.40
 Accumulation units outstanding at the end of period
25,165
23,441
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
Accumulation Unit Values
    
Contract with Endorsements - 1.86%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.885%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.05
$9.08
  End of period
$11.39
$11.05
 Accumulation units outstanding at the end of period
-
1,343
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.14
$10.56
  End of period
$12.55
$12.14
 Accumulation units outstanding at the end of period
29,532
30,723
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.80
N/A
  End of period
$12.16
N/A
 Accumulation units outstanding at the end of period
810
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.23
$14.53
  End of period
$16.28
$16.23
 Accumulation units outstanding at the end of period
7,417
7,747
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.68
$15.11
  End of period
$16.68
$16.68
 Accumulation units outstanding at the end of period
7,487
7,642
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.64
$15.37
  End of period
$16.63
$16.64
 Accumulation units outstanding at the end of period
52,063
60,842
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.64
$10.29
  End of period
$11.91
$11.64
 Accumulation units outstanding at the end of period
13,858
14,433
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.38
$11.07
  End of period
$16.23
$14.38
 Accumulation units outstanding at the end of period
17,767
20,753
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.44
$10.97
  End of period
$10.37
$10.44
 Accumulation units outstanding at the end of period
5,171
5,444
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.22
$10.31
  End of period
$12.48
$12.22
 Accumulation units outstanding at the end of period
2,229
2,284
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.81
$11.35
  End of period
$16.01
$14.81
 Accumulation units outstanding at the end of period
1,985
2,120
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.33
$10.37
  End of period
$11.73
$12.33
 Accumulation units outstanding at the end of period
6,421
6,443
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.83
$10.87
  End of period
$10.65
$11.83
 Accumulation units outstanding at the end of period
1,941
1,903
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.71
$9.96
  End of period
$9.01
$10.71
 Accumulation units outstanding at the end of period
6,388
6,916
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.73
$10.46
  End of period
$11.73
$11.73
 Accumulation units outstanding at the end of period
34,498
23,640
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$35.15
N/A
  End of period
$37.56
N/A
 Accumulation units outstanding at the end of period
1,892
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.60
$12.05
  End of period
$15.38
$14.60
 Accumulation units outstanding at the end of period
9,662
43
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$22.64
$17.07
  End of period
$24.40
$22.64
 Accumulation units outstanding at the end of period
1,914
6,717
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$36.03
$28.14
  End of period
$36.35
$36.03
 Accumulation units outstanding at the end of period
4,148
5,264
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$8.01
$8.69
  End of period
$8.31
$8.01
 Accumulation units outstanding at the end of period
720
950
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$6.99
$7.29
  End of period
$7.64
$6.99
 Accumulation units outstanding at the end of period
4,286
4,636
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.51
$9.46
  End of period
$11.60
$11.51
 Accumulation units outstanding at the end of period
4,048
4,034
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$10.97
$8.58
  End of period
$10.51
$10.97
 Accumulation units outstanding at the end of period
-
4,398
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.81
$11.63
  End of period
$11.54
$11.81
 Accumulation units outstanding at the end of period
9,497
16,721
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.35
$11.93
  End of period
$13.52
$13.35
 Accumulation units outstanding at the end of period
-
3,575
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$10.77
$8.29
  End of period
$9.57
$10.77
 Accumulation units outstanding at the end of period
1,584
1,902
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.03
$13.67
  End of period
$17.72
$18.03
 Accumulation units outstanding at the end of period
535
576
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$22.77
$23.45
  End of period
$23.55
$22.77
 Accumulation units outstanding at the end of period
26,622
25,976
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.77
$13.64
  End of period
$19.72
$17.77
 Accumulation units outstanding at the end of period
289
305
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.21
$14.09
  End of period
$16.04
$14.21
 Accumulation units outstanding at the end of period
5,844
7,860
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.85
$16.14
  End of period
$18.54
$18.85
 Accumulation units outstanding at the end of period
2,208
68
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.59
$12.11
  End of period
$17.63
$16.59
 Accumulation units outstanding at the end of period
4,794
1,911
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$23.85
$18.57
  End of period
$25.57
$23.85
 Accumulation units outstanding at the end of period
775
800
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$22.79
$16.62
  End of period
$24.15
$22.79
 Accumulation units outstanding at the end of period
1,184
2,256
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.15
$11.66
  End of period
$13.32
$14.15
 Accumulation units outstanding at the end of period
12,678
22,006
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.43
$12.11
  End of period
$12.67
$14.43
 Accumulation units outstanding at the end of period
271
292
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$33.68
$24.16
  End of period
$36.75
$33.68
 Accumulation units outstanding at the end of period
2,655
2,339
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$22.30
$16.60
  End of period
$22.34
$22.30
 Accumulation units outstanding at the end of period
59
2,278
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$13.02
$13.64
  End of period
$13.50
$13.02
 Accumulation units outstanding at the end of period
8,586
9,059
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$7.04
$5.93
  End of period
$7.29
$7.04
 Accumulation units outstanding at the end of period
1,933
2,088
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.07
$13.77
  End of period
$20.74
$19.07
 Accumulation units outstanding at the end of period
1,295
833
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.05
$10.19
  End of period
$14.06
$13.05
 Accumulation units outstanding at the end of period
857
1,090
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.79
N/A
  End of period
$14.44
N/A
 Accumulation units outstanding at the end of period
1,031
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.12
$7.73
  End of period
$11.23
$10.12
 Accumulation units outstanding at the end of period
4,318
4,633
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.52
$14.12
  End of period
$23.97
$19.52
 Accumulation units outstanding at the end of period
8,034
6,228
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$17.61
$14.78
  End of period
$16.23
$17.61
 Accumulation units outstanding at the end of period
443
472
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.60
$12.07
  End of period
$17.04
$15.60
 Accumulation units outstanding at the end of period
5,524
5,808
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.85
$12.89
  End of period
$20.74
$17.85
 Accumulation units outstanding at the end of period
2,201
2,285
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$38.46
$31.27
  End of period
$33.83
$38.46
 Accumulation units outstanding at the end of period
4,844
4,404
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.10
$13.66
  End of period
$15.29
$15.10
 Accumulation units outstanding at the end of period
854
326
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.69
$10.65
  End of period
$15.16
$14.69
 Accumulation units outstanding at the end of period
1,632
1,588
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$23.36
$17.90
  End of period
$25.04
$23.36
 Accumulation units outstanding at the end of period
2,289
2,528
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.26
$11.82
  End of period
$16.94
$15.26
 Accumulation units outstanding at the end of period
43,144
24,625
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.42
$11.48
  End of period
$15.66
$15.42
 Accumulation units outstanding at the end of period
909
984
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$21.12
$15.55
  End of period
$21.69
$21.12
 Accumulation units outstanding at the end of period
748
781
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.80
$7.11
  End of period
$10.41
$8.80
 Accumulation units outstanding at the end of period
3,879
4,587
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.79
$9.47
  End of period
$12.51
$12.79
 Accumulation units outstanding at the end of period
23
27
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.20
$10.41
  End of period
$10.50
$10.20
 Accumulation units outstanding at the end of period
16,038
11,275
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.66
$14.26
  End of period
$17.66
$17.66
 Accumulation units outstanding at the end of period
2,513
4,616
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$13.02
$14.60
  End of period
$13.20
$13.02
 Accumulation units outstanding at the end of period
7,988
6,211
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.08
$18.81
  End of period
$18.45
$18.08
 Accumulation units outstanding at the end of period
23,427
35,279
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.70
$10.46
  End of period
$10.53
$10.70
 Accumulation units outstanding at the end of period
4,126
17,877
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.38
$17.31
  End of period
$18.06
$18.38
 Accumulation units outstanding at the end of period
16,637
17,195
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.86
$10.73
  End of period
$16.10
$14.86
 Accumulation units outstanding at the end of period
1,840
3,310
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.66
$10.88
  End of period
$15.23
$14.66
 Accumulation units outstanding at the end of period
1,840
1,770
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.28
$12.26
  End of period
$19.39
$17.28
 Accumulation units outstanding at the end of period
14,217
14,402
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.70
$13.33
  End of period
$20.20
$18.70
 Accumulation units outstanding at the end of period
4,028
3,363
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.64
$12.18
  End of period
$17.44
$15.64
 Accumulation units outstanding at the end of period
17,174
24,660
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.58
$12.63
  End of period
$21.52
$18.58
 Accumulation units outstanding at the end of period
4,443
6,864
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.35
$14.87
  End of period
$19.19
$18.35
 Accumulation units outstanding at the end of period
3,742
3,939
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$12.90
$12.58
  End of period
$13.06
$12.90
 Accumulation units outstanding at the end of period
7,818
6,430
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.51
$15.38
  End of period
$19.18
$18.51
 Accumulation units outstanding at the end of period
67,465
68,391
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.20
$13.11
  End of period
$14.49
$14.20
 Accumulation units outstanding at the end of period
24,730
26,075
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.60
$15.48
  End of period
$18.05
$17.60
 Accumulation units outstanding at the end of period
21,014
20,907
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$15.89
$10.68
  End of period
$18.07
$15.89
 Accumulation units outstanding at the end of period
9,703
11,032
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$43.02
$31.61
  End of period
$45.89
$43.02
 Accumulation units outstanding at the end of period
2,919
9,780
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$65.56
$48.94
  End of period
$72.59
$65.56
 Accumulation units outstanding at the end of period
3,449
4,708
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.13
$10.31
  End of period
$9.98
$10.13
 Accumulation units outstanding at the end of period
61,067
49,501
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$21.24
$15.78
  End of period
$23.60
$21.24
 Accumulation units outstanding at the end of period
2,455
2,094
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$34.04
$29.07
  End of period
$36.70
$34.04
 Accumulation units outstanding at the end of period
8,427
7,816
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$11.34
$11.56
  End of period
$11.13
$11.34
 Accumulation units outstanding at the end of period
6,593
13,435
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.90%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.935%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.945%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.01
$9.05
  End of period
$11.33
$11.01
 Accumulation units outstanding at the end of period
424,601
419,716
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$12.09
$10.52
  End of period
$12.49
$12.09
 Accumulation units outstanding at the end of period
353,056
396,529
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$11.75
$9.76
  End of period
$12.10
$11.75
 Accumulation units outstanding at the end of period
530,577
634,525
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.19
$14.49
  End of period
$16.23
$16.19
 Accumulation units outstanding at the end of period
235,096
244,633
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.63
$15.08
  End of period
$16.62
$16.63
 Accumulation units outstanding at the end of period
483,317
675,568
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.59
$15.33
  End of period
$16.58
$16.59
 Accumulation units outstanding at the end of period
1,327,671
1,548,923
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.63
$10.29
  End of period
$11.89
$11.63
 Accumulation units outstanding at the end of period
374,831
340,179
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.35
$11.05
  End of period
$16.19
$14.35
 Accumulation units outstanding at the end of period
538,327
450,640
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.42
$10.95
  End of period
$10.34
$10.42
 Accumulation units outstanding at the end of period
167,838
160,832
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.61
$10.06
  End of period
$12.59
$12.61
 Accumulation units outstanding at the end of period
90,149
97,333
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.21
$10.30
  End of period
$12.47
$12.21
 Accumulation units outstanding at the end of period
206,471
193,740
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.78
$11.33
  End of period
$15.97
$14.78
 Accumulation units outstanding at the end of period
657,016
663,638
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.30
$10.36
  End of period
$11.70
$12.30
 Accumulation units outstanding at the end of period
108,411
117,707
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.80
$10.85
  End of period
$10.62
$11.80
 Accumulation units outstanding at the end of period
213,719
221,029
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.66
$9.93
  End of period
$8.97
$10.66
 Accumulation units outstanding at the end of period
349,615
398,693
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.71
$10.45
  End of period
$11.70
$11.71
 Accumulation units outstanding at the end of period
1,372,428
1,472,346
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$34.76
$25.50
  End of period
$37.12
$34.76
 Accumulation units outstanding at the end of period
20,406
17,197
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.58
$12.04
  End of period
$15.35
$14.58
 Accumulation units outstanding at the end of period
219,462
112,709
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$13.08
$11.55
  End of period
$12.90
$13.08
 Accumulation units outstanding at the end of period
75,560
79,105
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$31.52
$26.08
  End of period
$31.63
$31.52
 Accumulation units outstanding at the end of period
26,934
26,912
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$22.40
$16.90
  End of period
$24.13
$22.40
 Accumulation units outstanding at the end of period
47,069
32,679
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$35.66
$27.87
  End of period
$35.95
$35.66
 Accumulation units outstanding at the end of period
111,759
125,819
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$7.99
$8.67
  End of period
$8.28
$7.99
 Accumulation units outstanding at the end of period
59,051
70,529
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$6.96
$7.27
  End of period
$7.61
$6.96
 Accumulation units outstanding at the end of period
180,616
208,296
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.46
$9.43
  End of period
$11.54
$11.46
 Accumulation units outstanding at the end of period
361,501
423,104
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$10.92
$8.55
  End of period
$10.46
$10.92
 Accumulation units outstanding at the end of period
133,025
116,052
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.80
$11.62
  End of period
$11.52
$11.80
 Accumulation units outstanding at the end of period
192,564
241,160
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.29
$11.88
  End of period
$13.45
$13.29
 Accumulation units outstanding at the end of period
492,325
430,278
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$10.73
$8.26
  End of period
$9.53
$10.73
 Accumulation units outstanding at the end of period
77,063
85,952
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$11.12
$8.84
  End of period
$11.70
$11.12
 Accumulation units outstanding at the end of period
108,953
114,842
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.94
$13.61
  End of period
$17.62
$17.94
 Accumulation units outstanding at the end of period
99,843
120,164
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$22.51
$23.20
  End of period
$23.27
$22.51
 Accumulation units outstanding at the end of period
127,420
123,197
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.67
$13.58
  End of period
$19.61
$17.67
 Accumulation units outstanding at the end of period
122,194
116,242
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$11.50
$8.73
  End of period
$12.84
$11.50
 Accumulation units outstanding at the end of period
99,148
90,696
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.14
$14.03
  End of period
$15.95
$14.14
 Accumulation units outstanding at the end of period
242,565
203,005
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.64
$15.97
  End of period
$18.32
$18.64
 Accumulation units outstanding at the end of period
69,690
76,691
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.47
$12.03
  End of period
$17.49
$16.47
 Accumulation units outstanding at the end of period
111,798
121,188
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$23.63
$18.40
  End of period
$25.32
$23.63
 Accumulation units outstanding at the end of period
48,528
55,242
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$22.62
$16.51
  End of period
$23.96
$22.62
 Accumulation units outstanding at the end of period
78,918
83,398
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.11
$11.64
  End of period
$13.28
$14.11
 Accumulation units outstanding at the end of period
633,353
711,179
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.29
$12.00
  End of period
$12.54
$14.29
 Accumulation units outstanding at the end of period
52,808
62,515
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$33.30
$23.91
  End of period
$36.32
$33.30
 Accumulation units outstanding at the end of period
77,618
60,274
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$18.17
$19.21
  End of period
$18.79
$18.17
 Accumulation units outstanding at the end of period
187,481
177,378
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$22.11
$16.47
  End of period
$22.14
$22.11
 Accumulation units outstanding at the end of period
118,426
145,319
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$12.93
$13.56
  End of period
$13.40
$12.93
 Accumulation units outstanding at the end of period
129,766
117,747
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$6.98
$5.88
  End of period
$7.22
$6.98
 Accumulation units outstanding at the end of period
96,113
114,051
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.90
$13.66
  End of period
$20.54
$18.90
 Accumulation units outstanding at the end of period
133,221
152,781
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.94
$10.11
  End of period
$13.93
$12.94
 Accumulation units outstanding at the end of period
159,588
184,176
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.77
$10.09
  End of period
$14.40
$13.77
 Accumulation units outstanding at the end of period
35,055
27,396
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.78
$10.40
  End of period
$9.23
$9.78
 Accumulation units outstanding at the end of period
154,672
181,551
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.75
$11.52
  End of period
$13.98
$14.75
 Accumulation units outstanding at the end of period
51,590
17,773
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$10.03
$7.67
  End of period
$11.12
$10.03
 Accumulation units outstanding at the end of period
202,016
220,375
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.32
$14.69
  End of period
$17.75
$16.32
 Accumulation units outstanding at the end of period
13,934
14,607
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
$9.60
$9.92
  End of period
$9.29
$9.60
 Accumulation units outstanding at the end of period
9,941
10,096
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$19.35
$14.01
  End of period
$23.75
$19.35
 Accumulation units outstanding at the end of period
408,207
347,822
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.33
$10.16
  End of period
$12.73
$12.33
 Accumulation units outstanding at the end of period
133,439
138,849
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$17.49
$14.68
  End of period
$16.11
$17.49
 Accumulation units outstanding at the end of period
126,043
114,047
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.51
$12.01
  End of period
$16.93
$15.51
 Accumulation units outstanding at the end of period
194,917
267,947
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.20
$9.40
  End of period
$12.80
$12.20
 Accumulation units outstanding at the end of period
83,408
73,604
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.75
$12.83
  End of period
$20.61
$17.75
 Accumulation units outstanding at the end of period
174,193
122,000
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$38.14
$31.02
  End of period
$33.53
$38.14
 Accumulation units outstanding at the end of period
156,157
150,488
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.05
$13.62
  End of period
$15.23
$15.05
 Accumulation units outstanding at the end of period
43,920
30,624
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.62
$10.61
  End of period
$15.08
$14.62
 Accumulation units outstanding at the end of period
72,804
70,764
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$23.20
$17.78
  End of period
$24.85
$23.20
 Accumulation units outstanding at the end of period
141,982
164,159
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$15.15
$11.74
  End of period
$16.81
$15.15
 Accumulation units outstanding at the end of period
593,532
580,229
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.36
$11.44
  End of period
$15.59
$15.36
 Accumulation units outstanding at the end of period
61,287
48,471
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$20.97
$15.45
  End of period
$21.53
$20.97
 Accumulation units outstanding at the end of period
130,883
146,921
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.72
$7.05
  End of period
$10.32
$8.72
 Accumulation units outstanding at the end of period
377,501
361,393
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$13.11
$9.92
  End of period
$13.85
$13.11
 Accumulation units outstanding at the end of period
61,619
50,422
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.78
$9.46
  End of period
$12.49
$12.78
 Accumulation units outstanding at the end of period
29,704
31,210
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.19
$10.40
  End of period
$10.49
$10.19
 Accumulation units outstanding at the end of period
140,587
174,780
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.53
$14.16
  End of period
$17.52
$17.53
 Accumulation units outstanding at the end of period
98,712
81,877
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$12.96
$14.55
  End of period
$13.13
$12.96
 Accumulation units outstanding at the end of period
635,535
750,915
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$17.91
$18.65
  End of period
$18.26
$17.91
 Accumulation units outstanding at the end of period
788,391
937,232
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.68
$10.44
  End of period
$10.50
$10.68
 Accumulation units outstanding at the end of period
413,689
484,007
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$18.21
$17.16
  End of period
$17.89
$18.21
 Accumulation units outstanding at the end of period
455,788
621,522
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.80
$10.70
  End of period
$16.04
$14.80
 Accumulation units outstanding at the end of period
61,079
56,795
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.61
$10.84
  End of period
$15.16
$14.61
 Accumulation units outstanding at the end of period
52,480
67,743
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$24.34
$17.70
  End of period
$26.85
$24.34
 Accumulation units outstanding at the end of period
25,905
29,842
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.21
$12.22
  End of period
$19.31
$17.21
 Accumulation units outstanding at the end of period
835,226
677,781
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.63
$13.29
  End of period
$20.11
$18.63
 Accumulation units outstanding at the end of period
189,430
225,466
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.58
$12.15
  End of period
$17.37
$15.58
 Accumulation units outstanding at the end of period
784,845
794,276
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.51
$12.59
  End of period
$21.43
$18.51
 Accumulation units outstanding at the end of period
194,876
139,658
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.18
$14.74
  End of period
$19.00
$18.18
 Accumulation units outstanding at the end of period
226,257
237,189
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$12.83
$12.52
  End of period
$12.98
$12.83
 Accumulation units outstanding at the end of period
781,632
880,383
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$18.33
$15.25
  End of period
$18.99
$18.33
 Accumulation units outstanding at the end of period
682,200
741,541
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.12
$13.04
  End of period
$14.40
$14.12
 Accumulation units outstanding at the end of period
1,090,999
1,233,311
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.43
$15.34
  End of period
$17.87
$17.43
 Accumulation units outstanding at the end of period
1,145,773
1,314,968
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$15.83
$10.64
  End of period
$18.00
$15.83
 Accumulation units outstanding at the end of period
128,769
125,177
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$42.54
$31.28
  End of period
$45.36
$42.54
 Accumulation units outstanding at the end of period
186,542
210,127
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$64.84
$48.43
  End of period
$71.75
$64.84
 Accumulation units outstanding at the end of period
138,374
155,009
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.08
$10.27
  End of period
$9.93
$10.08
 Accumulation units outstanding at the end of period
287,777
346,122
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$21.06
$15.66
  End of period
$23.39
$21.06
 Accumulation units outstanding at the end of period
207,777
240,221
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$33.66
$28.76
  End of period
$36.27
$33.66
 Accumulation units outstanding at the end of period
448,615
463,886
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$11.21
$11.43
  End of period
$11.00
$11.21
 Accumulation units outstanding at the end of period
843,628
934,949
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$26.98
$21.00
  End of period
$29.46
$26.98
 Accumulation units outstanding at the end of period
42,535
49,507
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.97%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.57
$15.32
  End of period
$16.55
$16.57
 Accumulation units outstanding at the end of period
1,695
1,361
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.70
$10.44
  End of period
$11.69
$11.70
 Accumulation units outstanding at the end of period
1,781
1,739
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.57
$12.04
  End of period
$15.34
$14.57
 Accumulation units outstanding at the end of period
777
746
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$22.31
$16.83
  End of period
$24.02
$22.31
 Accumulation units outstanding at the end of period
886
928
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$10.90
$8.53
  End of period
$10.44
$10.90
 Accumulation units outstanding at the end of period
1,005
951
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.79
$11.62
  End of period
$11.51
$11.79
 Accumulation units outstanding at the end of period
715
679
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.64
$13.55
  End of period
$19.56
$17.64
 Accumulation units outstanding at the end of period
327
352
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$11.48
$8.72
  End of period
$12.82
$11.48
 Accumulation units outstanding at the end of period
826
903
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.11
$14.00
  End of period
$15.91
$14.11
 Accumulation units outstanding at the end of period
392
433
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.10
$11.63
  End of period
$13.27
$14.10
 Accumulation units outstanding at the end of period
778
732
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.76
$10.09
  End of period
$14.39
$13.76
 Accumulation units outstanding at the end of period
298
302
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.69
$7.02
  End of period
$10.28
$8.69
 Accumulation units outstanding at the end of period
615
717
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.19
$10.40
  End of period
$10.48
$10.19
 Accumulation units outstanding at the end of period
1,522
1,412
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$12.94
$14.53
  End of period
$13.11
$12.94
 Accumulation units outstanding at the end of period
1,200
1,096
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.68
$10.59
  End of period
$10.49
$10.68
 Accumulation units outstanding at the end of period
1,513
1,351
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.55
$12.13
  End of period
$17.34
$15.55
 Accumulation units outstanding at the end of period
2,081
2,236
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$14.09
$13.01
  End of period
$14.37
$14.09
 Accumulation units outstanding at the end of period
12,019
13,440
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.06
$10.25
  End of period
$9.91
$10.06
 Accumulation units outstanding at the end of period
2,070
1,968
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$20.99
$15.61
  End of period
$23.31
$20.99
 Accumulation units outstanding at the end of period
708
715
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.982%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 1.995%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.082%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.095%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.27
$11.01
  End of period
$16.07
$14.27
 Accumulation units outstanding at the end of period
3,654
3,706
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.36
$10.90
  End of period
$10.27
$10.36
 Accumulation units outstanding at the end of period
31,319
19,766
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.70
N/A
  End of period
$15.86
N/A
 Accumulation units outstanding at the end of period
33,595
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.23
$10.32
  End of period
$11.62
$12.23
 Accumulation units outstanding at the end of period
10,036
11,810
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.66
$10.41
  End of period
$11.63
$11.66
 Accumulation units outstanding at the end of period
46,132
36,976
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$12.82
$11.33
  End of period
$12.62
$12.82
 Accumulation units outstanding at the end of period
3,653
3,705
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$30.64
$25.39
  End of period
$30.71
$30.64
 Accumulation units outstanding at the end of period
10,009
9,026
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$34.75
$27.20
  End of period
$34.98
$34.75
 Accumulation units outstanding at the end of period
3,612
9,291
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.35
$9.35
  End of period
$11.41
$11.35
 Accumulation units outstanding at the end of period
4,546
4,611
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$10.81
N/A
  End of period
$10.34
N/A
 Accumulation units outstanding at the end of period
36,026
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.14
$11.76
  End of period
$13.28
$13.14
 Accumulation units outstanding at the end of period
48,653
38,729
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.45
N/A
  End of period
$19.33
N/A
 Accumulation units outstanding at the end of period
22,081
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$13.95
$13.87
  End of period
$15.72
$13.95
 Accumulation units outstanding at the end of period
23,571
22,833
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.17
$11.83
  End of period
$17.15
$16.17
 Accumulation units outstanding at the end of period
7,632
9,691
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$23.07
$18.00
  End of period
$24.69
$23.07
 Accumulation units outstanding at the end of period
5,109
6,088
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.02
$11.58
  End of period
$13.18
$14.02
 Accumulation units outstanding at the end of period
-
28,449
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$17.67
$18.70
  End of period
$18.24
$17.67
 Accumulation units outstanding at the end of period
13,986
13,540
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$21.63
$16.14
  End of period
$21.63
$21.63
 Accumulation units outstanding at the end of period
-
11,851
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$6.83
$5.76
  End of period
$7.06
$6.83
 Accumulation units outstanding at the end of period
7,406
7,511
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.50
$13.39
  End of period
$20.07
$18.50
 Accumulation units outstanding at the end of period
3,111
3,155
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.82
$7.52
  End of period
$10.87
$9.82
 Accumulation units outstanding at the end of period
5,767
5,849
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.94
$13.73
  End of period
$23.21
$18.94
 Accumulation units outstanding at the end of period
2,997
3,040
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.30
$11.86
  End of period
$16.68
$15.30
 Accumulation units outstanding at the end of period
7,074
7,174
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$37.32
$30.40
  End of period
$32.76
$37.32
 Accumulation units outstanding at the end of period
1,338
1,357
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.53
$6.91
  End of period
$10.08
$8.53
 Accumulation units outstanding at the end of period
5,453
5,531
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$17.49
$18.24
  End of period
$17.81
$17.49
 Accumulation units outstanding at the end of period
28,367
27,936
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.64
$10.41
  End of period
$10.44
$10.64
 Accumulation units outstanding at the end of period
76,776
70,061
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$17.79
$16.79
  End of period
$17.44
$17.79
 Accumulation units outstanding at the end of period
30,457
24,582
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.46
$13.19
  End of period
$19.90
$18.46
 Accumulation units outstanding at the end of period
22,977
15,991
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.44
$12.05
  End of period
$17.19
$15.44
 Accumulation units outstanding at the end of period
32,262
22,789
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$12.66
$12.36
  End of period
$12.78
$12.66
 Accumulation units outstanding at the end of period
7,481
8,081
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.91
$14.92
  End of period
$18.52
$17.91
 Accumulation units outstanding at the end of period
-
18,748
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$13.93
$12.88
  End of period
$14.18
$13.93
 Accumulation units outstanding at the end of period
50,636
54,698
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.03
$15.01
  End of period
$17.43
$17.03
 Accumulation units outstanding at the end of period
12,572
13,580
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$63.05
$47.17
  End of period
$69.66
$63.05
 Accumulation units outstanding at the end of period
5,874
3,428
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$9.97
$10.17
  End of period
$9.80
$9.97
 Accumulation units outstanding at the end of period
61,654
60,068
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$32.74
$28.01
  End of period
$35.22
$32.74
 Accumulation units outstanding at the end of period
-
9,523
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.11%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.46
$15.24
  End of period
$16.42
$16.46
 Accumulation units outstanding at the end of period
397
1,456
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.27
$11.00
  End of period
$16.06
$14.27
 Accumulation units outstanding at the end of period
6,572
5,675
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.36
$10.90
  End of period
$10.26
$10.36
 Accumulation units outstanding at the end of period
741
562
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.54
$10.01
  End of period
$12.50
$12.54
 Accumulation units outstanding at the end of period
2,545
2,214
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.18
$11.19
  End of period
$12.41
$12.18
 Accumulation units outstanding at the end of period
3,706
2,369
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.69
$11.28
  End of period
$15.85
$14.69
 Accumulation units outstanding at the end of period
10,463
7,856
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.23
$10.31
  End of period
$11.61
$12.23
 Accumulation units outstanding at the end of period
810
396
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.73
$10.80
  End of period
$10.54
$11.73
 Accumulation units outstanding at the end of period
6,514
5,338
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.54
$9.83
  End of period
$8.85
$10.54
 Accumulation units outstanding at the end of period
1,299
1,301
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.65
$10.41
  End of period
$11.62
$11.65
 Accumulation units outstanding at the end of period
2,604
2,907
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.53
$12.02
  End of period
$15.27
$14.53
 Accumulation units outstanding at the end of period
1,685
1,652
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$21.77
$16.45
  End of period
$23.41
$21.77
 Accumulation units outstanding at the end of period
858
605
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$34.66
$27.13
  End of period
$34.89
$34.66
 Accumulation units outstanding at the end of period
1,022
850
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$7.91
$8.59
  End of period
$8.18
$7.91
 Accumulation units outstanding at the end of period
160
167
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$6.90
$7.21
  End of period
$7.52
$6.90
 Accumulation units outstanding at the end of period
1,839
1,386
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.76
$11.60
  End of period
$11.46
$11.76
 Accumulation units outstanding at the end of period
295
307
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$13.12
$11.75
  End of period
$13.26
$13.12
 Accumulation units outstanding at the end of period
4,415
2,941
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$10.99
$8.75
  End of period
$11.55
$10.99
 Accumulation units outstanding at the end of period
244
245
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.69
$13.44
  End of period
$17.34
$17.69
 Accumulation units outstanding at the end of period
1,099
1,099
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.43
N/A
  End of period
$19.31
N/A
 Accumulation units outstanding at the end of period
102
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$13.94
N/A
  End of period
$15.70
N/A
 Accumulation units outstanding at the end of period
908
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$14.01
$11.58
  End of period
$13.17
$14.01
 Accumulation units outstanding at the end of period
2,773
5,048
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$32.30
$23.22
  End of period
$35.16
$32.30
 Accumulation units outstanding at the end of period
611
611
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$21.59
$16.11
  End of period
$21.58
$21.59
 Accumulation units outstanding at the end of period
2,921
2,210
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.46
$13.36
  End of period
$20.03
$18.46
 Accumulation units outstanding at the end of period
827
827
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.90
N/A
  End of period
$23.15
N/A
 Accumulation units outstanding at the end of period
2,002
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$37.24
$30.34
  End of period
$32.68
$37.24
 Accumulation units outstanding at the end of period
1,302
1,082
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$22.74
$17.46
  End of period
$24.32
$22.74
 Accumulation units outstanding at the end of period
298
287
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$14.86
$11.53
  End of period
$16.45
$14.86
 Accumulation units outstanding at the end of period
2,740
2,740
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.80
N/A
  End of period
$12.48
N/A
 Accumulation units outstanding at the end of period
148
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.17
$13.89
  End of period
$17.13
$17.17
 Accumulation units outstanding at the end of period
930
993
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$12.82
$14.40
  End of period
$12.96
$12.82
 Accumulation units outstanding at the end of period
2,346
3,107
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$17.45
$18.20
  End of period
$17.76
$17.45
 Accumulation units outstanding at the end of period
16,159
15,597
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.63
$10.41
  End of period
$10.43
$10.63
 Accumulation units outstanding at the end of period
39,247
25,391
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$17.74
$16.75
  End of period
$17.40
$17.74
 Accumulation units outstanding at the end of period
726
731
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.04
$12.12
  End of period
$19.09
$17.04
 Accumulation units outstanding at the end of period
2,805
1,522
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.33
$12.48
  End of period
$21.18
$18.33
 Accumulation units outstanding at the end of period
72
76
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$15.68
N/A
  End of period
$17.79
N/A
 Accumulation units outstanding at the end of period
781
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$41.25
$30.38
  End of period
$43.91
$41.25
 Accumulation units outstanding at the end of period
4,480
4,023
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$62.88
$47.04
  End of period
$69.46
$62.88
 Accumulation units outstanding at the end of period
2,236
1,972
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$32.64
$27.94
  End of period
$35.12
$32.64
 Accumulation units outstanding at the end of period
1,982
1,597
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$10.88
$11.11
  End of period
$10.65
$10.88
 Accumulation units outstanding at the end of period
-
28,170
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.132%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.16%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.185%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.49
$9.79
  End of period
$8.80
$10.49
 Accumulation units outstanding at the end of period
492
471
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$34.21
$26.80
  End of period
$34.41
$34.21
 Accumulation units outstanding at the end of period
153
158
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$21.53
$22.24
  End of period
$22.20
$21.53
 Accumulation units outstanding at the end of period
250
258
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$13.85
$13.77
  End of period
$15.58
$13.85
 Accumulation units outstanding at the end of period
88
90
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$22.75
$17.76
  End of period
$24.31
$22.75
 Accumulation units outstanding at the end of period
168
176
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$13.97
$11.55
  End of period
$13.12
$13.97
 Accumulation units outstanding at the end of period
268
272
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.26
$13.22
  End of period
$19.79
$18.26
 Accumulation units outstanding at the end of period
696
787
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.71
$10.07
  End of period
$14.31
$13.71
 Accumulation units outstanding at the end of period
1,855
2,100
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.69
$7.43
  End of period
$10.72
$9.69
 Accumulation units outstanding at the end of period
1,270
1,485
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.69
$13.56
  End of period
$22.88
$18.69
 Accumulation units outstanding at the end of period
591
754
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$36.83
$30.03
  End of period
$32.30
$36.83
 Accumulation units outstanding at the end of period
37
34
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$14.73
$11.43
  End of period
$16.29
$14.73
 Accumulation units outstanding at the end of period
3,282
3,910
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.42
$6.82
  End of period
$9.94
$8.42
 Accumulation units outstanding at the end of period
1,372
1,739
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$12.75
$14.34
  End of period
$12.88
$12.75
 Accumulation units outstanding at the end of period
1,202
1,231
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.96
$12.07
  End of period
$18.99
$16.96
 Accumulation units outstanding at the end of period
2,851
3,352
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.25
$12.44
  End of period
$21.07
$18.25
 Accumulation units outstanding at the end of period
3,335
3,997
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$13.81
$12.78
  End of period
$14.05
$13.81
 Accumulation units outstanding at the end of period
169
178
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$62.00
$46.42
  End of period
$68.44
$62.00
 Accumulation units outstanding at the end of period
18
20
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$20.38
$15.19
  End of period
$22.58
$20.38
 Accumulation units outstanding at the end of period
597
705
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.245%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$11.84
$10.34
  End of period
$12.19
$11.84
 Accumulation units outstanding at the end of period
2,594
6,698
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.96
$14.33
  End of period
$15.95
$15.96
 Accumulation units outstanding at the end of period
7,287
7,050
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.39
$14.91
  End of period
$16.34
$16.39
 Accumulation units outstanding at the end of period
4,550
4,811
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.36
$15.16
  End of period
$16.29
$16.36
 Accumulation units outstanding at the end of period
6,263
8,227
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.57
$10.26
  End of period
$11.79
$11.57
 Accumulation units outstanding at the end of period
1,072
1,964
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$14.20
$10.96
  End of period
$15.96
$14.20
 Accumulation units outstanding at the end of period
37,293
23,395
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$10.31
$10.86
  End of period
$10.20
$10.31
 Accumulation units outstanding at the end of period
53,962
68,181
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
$12.48
$9.98
  End of period
$12.42
$12.48
 Accumulation units outstanding at the end of period
1,185
1,129
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$12.15
$10.78
  End of period
$12.37
$12.15
 Accumulation units outstanding at the end of period
3,917
5,005
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
$14.62
$11.24
  End of period
$15.75
$14.62
 Accumulation units outstanding at the end of period
87,119
34,150
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
$12.17
$10.27
  End of period
$11.53
$12.17
 Accumulation units outstanding at the end of period
3,844
5,944
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
$11.67
$10.76
  End of period
$10.47
$11.67
 Accumulation units outstanding at the end of period
11,334
10,244
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
$10.44
$9.75
  End of period
$8.76
$10.44
 Accumulation units outstanding at the end of period
29,905
32,862
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
$11.60
$10.38
  End of period
$11.55
$11.60
 Accumulation units outstanding at the end of period
183,925
202,057
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$32.87
N/A
  End of period
$35.00
N/A
 Accumulation units outstanding at the end of period
634
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
$14.49
$12.01
  End of period
$15.21
$14.49
 Accumulation units outstanding at the end of period
3,585
1,169
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$12.56
$11.12
  End of period
$12.35
$12.56
 Accumulation units outstanding at the end of period
16,081
3,200
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
$29.80
$24.73
  End of period
$29.82
$29.80
 Accumulation units outstanding at the end of period
19,972
22,287
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$21.27
$16.09
  End of period
$22.84
$21.27
 Accumulation units outstanding at the end of period
3,107
1,946
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$33.86
$26.54
  End of period
$34.03
$33.86
 Accumulation units outstanding at the end of period
10,517
20,068
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
$7.84
$8.54
  End of period
$8.10
$7.84
 Accumulation units outstanding at the end of period
3,332
3,316
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
$6.84
$7.16
  End of period
$7.45
$6.84
 Accumulation units outstanding at the end of period
13,556
15,623
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$11.23
$9.26
  End of period
$11.27
$11.23
 Accumulation units outstanding at the end of period
12,942
10,617
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$10.70
$8.39
  End of period
$10.21
$10.70
 Accumulation units outstanding at the end of period
73,420
6,072
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$11.73
$11.58
  End of period
$11.41
$11.73
 Accumulation units outstanding at the end of period
675
2,314
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
$12.99
$11.64
  End of period
$13.10
$12.99
 Accumulation units outstanding at the end of period
161,906
163,366
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
$10.53
$8.14
  End of period
$9.33
$10.53
 Accumulation units outstanding at the end of period
346
273
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
$10.89
$8.68
  End of period
$11.43
$10.89
 Accumulation units outstanding at the end of period
11,952
12,825
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.48
$13.30
  End of period
$17.12
$17.48
 Accumulation units outstanding at the end of period
8,145
2,793
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$21.29
$22.01
  End of period
$21.94
$21.29
 Accumulation units outstanding at the end of period
5,454
19,454
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$17.22
$13.27
  End of period
$19.05
$17.22
 Accumulation units outstanding at the end of period
36,204
7,031
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
$11.26
$8.58
  End of period
$12.54
$11.26
 Accumulation units outstanding at the end of period
6,744
5,948
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
$13.77
$13.71
  End of period
$15.49
$13.77
 Accumulation units outstanding at the end of period
64,718
71,442
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.62
$15.15
  End of period
$17.27
$17.62
 Accumulation units outstanding at the end of period
733
1,127
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.88
$11.63
  End of period
$16.82
$15.88
 Accumulation units outstanding at the end of period
7,108
8,024
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$22.53
$17.60
  End of period
$24.07
$22.53
 Accumulation units outstanding at the end of period
8,183
611
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$21.81
$15.97
  End of period
$23.03
$21.81
 Accumulation units outstanding at the end of period
10,578
16,831
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
$13.93
$11.52
  End of period
$13.08
$13.93
 Accumulation units outstanding at the end of period
93,589
147,901
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
$13.63
$11.48
  End of period
$11.92
$13.63
 Accumulation units outstanding at the end of period
3,808
3,640
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$31.49
$22.68
  End of period
$34.24
$31.49
 Accumulation units outstanding at the end of period
966
977
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
$17.18
$18.21
  End of period
$17.71
$17.18
 Accumulation units outstanding at the end of period
14,388
27,608
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$21.17
$15.82
  End of period
$21.13
$21.17
 Accumulation units outstanding at the end of period
11,706
31,323
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
$12.47
$13.12
  End of period
$12.88
$12.47
 Accumulation units outstanding at the end of period
3,918
4,379
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$6.68
$5.65
  End of period
$6.90
$6.68
 Accumulation units outstanding at the end of period
11,864
12,805
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.10
$13.12
  End of period
$19.61
$18.10
 Accumulation units outstanding at the end of period
10,494
10,347
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.39
$9.71
  End of period
$13.30
$12.39
 Accumulation units outstanding at the end of period
51,052
31,187
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
$13.70
N/A
  End of period
$14.29
N/A
 Accumulation units outstanding at the end of period
7,495
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
$9.71
$10.36
  End of period
$9.14
$9.71
 Accumulation units outstanding at the end of period
9,864
8,150
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.52
$11.37
  End of period
$13.72
$14.52
 Accumulation units outstanding at the end of period
2,229
2,364
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$9.60
$7.37
  End of period
$10.62
$9.60
 Accumulation units outstanding at the end of period
20,663
14,569
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.63
$14.11
  End of period
$16.94
$15.63
 Accumulation units outstanding at the end of period
527
458
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$18.53
$13.45
  End of period
$22.67
$18.53
 Accumulation units outstanding at the end of period
40,468
27,879
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.08
$9.99
  End of period
$12.44
$12.08
 Accumulation units outstanding at the end of period
3,574
4,336
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
$16.87
$14.21
  End of period
$15.49
$16.87
 Accumulation units outstanding at the end of period
4,558
3,763
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.09
$11.72
  End of period
$16.42
$15.09
 Accumulation units outstanding at the end of period
28,527
34,469
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
$11.92
$9.22
  End of period
$12.47
$11.92
 Accumulation units outstanding at the end of period
165
167
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
$17.26
$12.51
  End of period
$19.99
$17.26
 Accumulation units outstanding at the end of period
23,444
18,286
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$36.51
$29.79
  End of period
$32.01
$36.51
 Accumulation units outstanding at the end of period
14,440
16,108
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.81
$13.45
  End of period
$14.95
$14.81
 Accumulation units outstanding at the end of period
5,504
5,731
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
$14.29
$10.40
  End of period
$14.70
$14.29
 Accumulation units outstanding at the end of period
11,488
10,576
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$22.38
$17.21
  End of period
$23.90
$22.38
 Accumulation units outstanding at the end of period
15,691
13,989
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
$14.62
$11.36
  End of period
$16.17
$14.62
 Accumulation units outstanding at the end of period
16,759
18,379
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
$15.05
$11.25
  End of period
$15.24
$15.05
 Accumulation units outstanding at the end of period
4,615
3,665
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
$20.23
$14.95
  End of period
$20.71
$20.23
 Accumulation units outstanding at the end of period
8,314
10,012
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
$8.35
$6.77
  End of period
$9.85
$8.35
 Accumulation units outstanding at the end of period
82,483
78,474
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
$12.75
$9.67
  End of period
$13.43
$12.75
 Accumulation units outstanding at the end of period
11,194
11,524
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$12.72
N/A
  End of period
$12.39
N/A
 Accumulation units outstanding at the end of period
1,573
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.14
$10.38
  End of period
$10.40
$10.14
 Accumulation units outstanding at the end of period
5,769
5,753
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.88
$13.67
  End of period
$16.82
$16.88
 Accumulation units outstanding at the end of period
9,348
7,791
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
$12.70
$14.29
  End of period
$12.82
$12.70
 Accumulation units outstanding at the end of period
40,886
44,512
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$17.08
$17.84
  End of period
$17.36
$17.08
 Accumulation units outstanding at the end of period
81,416
107,349
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
$10.59
$10.38
  End of period
$10.38
$10.59
 Accumulation units outstanding at the end of period
120,561
171,617
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$17.37
$16.42
  End of period
$17.01
$17.37
 Accumulation units outstanding at the end of period
90,768
104,654
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.55
$10.55
  End of period
$15.71
$14.55
 Accumulation units outstanding at the end of period
5,807
4,055
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
$14.36
$10.69
  End of period
$14.86
$14.36
 Accumulation units outstanding at the end of period
3,493
4,354
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
$23.02
$16.79
  End of period
$25.32
$23.02
 Accumulation units outstanding at the end of period
86
3,583
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
$16.90
$12.03
  End of period
$18.91
$16.90
 Accumulation units outstanding at the end of period
53,906
41,310
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
$18.30
$13.09
  End of period
$19.69
$18.30
 Accumulation units outstanding at the end of period
44,036
37,008
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$15.30
$11.96
  End of period
$17.01
$15.30
 Accumulation units outstanding at the end of period
111,585
110,685
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
$18.18
$12.40
  End of period
$20.98
$18.18
 Accumulation units outstanding at the end of period
12,148
10,891
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
$12.48
$12.21
  End of period
$12.58
$12.48
 Accumulation units outstanding at the end of period
76,851
88,211
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$17.49
$14.59
  End of period
$18.06
$17.49
 Accumulation units outstanding at the end of period
47,206
66,596
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
$13.74
$12.72
  End of period
$13.97
$13.74
 Accumulation units outstanding at the end of period
193,047
198,269
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$16.63
$14.68
  End of period
$16.99
$16.63
 Accumulation units outstanding at the end of period
92,490
79,472
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
$15.55
$10.48
  End of period
$17.62
$15.55
 Accumulation units outstanding at the end of period
11,387
11,496
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$40.23
$29.67
  End of period
$42.76
$40.23
 Accumulation units outstanding at the end of period
12,735
9,937
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
$61.31
$45.94
  End of period
$67.64
$61.31
 Accumulation units outstanding at the end of period
25,662
21,156
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
$9.85
$10.07
  End of period
$9.68
$9.85
 Accumulation units outstanding at the end of period
130,695
223,184
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
$20.22
$15.08
  End of period
$22.39
$20.22
 Accumulation units outstanding at the end of period
14,217
10,716
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
$31.83
$27.28
  End of period
$34.20
$31.83
 Accumulation units outstanding at the end of period
18,645
42,543
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
$10.60
$10.85
  End of period
$10.37
$10.60
 Accumulation units outstanding at the end of period
411,015
528,227
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
$26.09
$20.36
  End of period
$28.40
$26.09
 Accumulation units outstanding at the end of period
74
931
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.295%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.395%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.432%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 
 
Accumulation Unit Values
    
Contract with Endorsements - 2.532%
    
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL Disciplined Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Disciplined Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 20 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 35 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 50 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL Institutional Alt 65 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Balanced Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/American Funds Blue Chip Income and Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Global Small Capitalization Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds Growth-Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds International Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/American Funds New World Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Commodity Securities Strategy Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/BlackRock Global Allocation Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/BlackRock Large Cap Select Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Brookfield Global Infrastructure and MLP Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Capital Guardian Global Diversified Research Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/DFA U.S. Core Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eagle SmallCap Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Eastspring Investments Asia ex-Japan Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Eastspring Investments China-India Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Founding Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Global Multisector Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton International Small Cap Growth Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Mutual Shares Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Franklin Templeton Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Goldman Sachs Core Plus Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Emerging Markets Debt Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Goldman Sachs U.S. Equity Flex Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Global Real Estate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco International Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Large Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Invesco Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/Invesco Small Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Ivy Asset Strategy Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan International Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan MidCap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/JPMorgan U.S. Government & Quality Bond Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Lazard Emerging Markets Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 10 x 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Bond Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Communications Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Consumer Brands Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow 10 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Division
  
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Emerging Markets Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC European 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Financial Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Global 15 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Global Alpha Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Healthcare Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Index 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC International Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC JNL Optimized 5 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Nasdaq 25 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Oil & Gas Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Pacific Rim 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 24 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 400 MidCap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P 500 Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC S&P SMid 60 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Small Cap Index Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/MC Technology Sector Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/MC Value Line 30 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Morgan Stanley Mid Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Neuberger Berman Strategic Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Oppenheimer Global Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Real Return Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PIMCO Total Return Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Floating Rate Income Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America High Yield Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/PPM America Mid Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Small Cap Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/PPM America Value Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/Red Rocks Listed Private Equity Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P 4 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Competitive Advantage Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Dividend Income & Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Intrinsic Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/S&P Managed Aggressive Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Conservative Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Managed Moderate Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P MID 3 Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/S&P Total Yield Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Established Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
Investment Divisions
December 31,
December 31,
 
2014
2013
JNL/T. Rowe Price Mid-Cap Growth Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Short-Term Bond Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/T. Rowe Price Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Balanced Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Money Market Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
     
JNL/WMC Value Division
    
 Accumulation unit value:
    
  Beginning of period
N/A
N/A
  End of period
N/A
N/A
 Accumulation units outstanding at the end of period
N/A
N/A
 

APPENDIX A
 
 
 
Jackson National Separate Account I






Financial Statements
 
December 31, 2014
 
 
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
   
CG - Alt 100 Conservative Fund
    
CG - Alt 100 Growth Fund
    
CG - Alt 100 Moderate Fund
    
CG - Conservative Fund
    
CG - Equity 100 Fund
    
CG - Equity Income Fund
    
CG - Fixed Income 100 Fund
    
CG - Growth Fund
    
CG - Institutional Alt 65 Fund
    
CG - Interest Rate Opportunities Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 34,297,475     $ 104,198,249     $ 330,092,913     $ 97,608,053     $ 78,822,197     $ 62,044,598     $ 44,387,395     $ 156,054,897     $ 124,347,904     $ 47,997,450  
Receivables:
                                                                                
   Investments in Fund shares sold
     17,972       19,366       85,661       29,300       35,897       3,356       12,061       4,965       3,960       3,871  
   Investment Division units sold
     11,963       231,988       45,659       12,222       112,585       47,377       —       144,769       83,171       35,782  
Total assets
     34,327,410       104,449,603       330,224,233       97,649,575       78,970,679       62,095,331       44,399,456       156,204,631       124,435,035       48,037,103  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     11,963       231,988       45,659       12,222       112,585       47,377       —       144,769       83,171       35,782  
   Investment Division units redeemed
     16,968       16,399       76,222       26,347       33,667       1,544       10,774       582       368       2,463  
   Insurance fees due to Jackson
     1,004       2,967       9,439       2,953       2,230       1,812       1,287       4,383       3,592       1,408  
Total liabilities
     29,935       251,354       131,320       41,522       148,482       50,733       12,061       149,734       87,131       39,653  
Net assets (Note 7)
   $ 34,297,475     $ 104,198,249     $ 330,092,913     $ 97,608,053     $ 78,822,197     $ 62,044,598     $ 44,387,395     $ 156,054,897     $ 124,347,904     $ 47,997,450  
                                                                                 
(a) Investments in Funds, shares outstanding
     3,399,155       10,077,200       31,140,841       8,930,288       5,989,529       4,912,478       4,492,651       13,773,601       10,955,762       4,902,702  
      Investments in Funds, at cost
   $ 34,031,685     $ 104,265,229     $ 325,645,502     $ 96,839,875     $ 74,562,445     $ 57,559,222     $ 45,064,528     $ 152,117,545     $ 118,743,649     $ 48,523,689  
 
See notes to the financial statements.
 
1
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
   
CG - International Conservative Fund
    
CG - International Growth Fund
    
CG - International Moderate Fund
    
CG - Maximum Growth Fund
    
CG - Moderate Fund
    
CG - Moderate Growth Fund
    
CG - Multi-Strategy Income Fund
    
CG - Real Assets Fund
    
CG - Tactical Maximum Growth Fund
    
CG - Tactical Moderate Growth Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 4,658,773     $ 7,728,002     $ 10,278,335     $ 113,731,523     $ 334,274,451     $ 476,810,694     $ 37,647,414     $ 10,920,077     $ 92,147,402     $ 287,493,230  
Receivables:
                                                                                
   Investments in Fund shares sold
     144       222       1,895       32,189       132,684       170,700       54,503       56,100       3,891       17,599  
   Investment Division units sold
     4,709       2,015       38,994       67,718       452,103       1,149,789       115,455       300       10,436       25,723  
Total assets
     4,663,626       7,730,239       10,319,224       113,831,430       334,859,238       478,131,183       37,817,372       10,976,477       92,161,729       287,536,552  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     4,709       2,015       38,994       67,718       452,103       1,149,789       115,455       300       10,436       25,723  
   Investment Division units redeemed
     5       2       1,599       29,001       122,957       156,984       53,400       55,784       1,299       9,393  
   Insurance fees due to Jackson
     139       220       296       3,188       9,727       13,716       1,103       316       2,592       8,206  
Total liabilities
     4,853       2,237       40,889       99,907       584,787       1,320,489       169,958       56,400       14,327       43,322  
Net assets (Note 7)
   $ 4,658,773     $ 7,728,002     $ 10,278,335     $ 113,731,523     $ 334,274,451     $ 476,810,694     $ 37,647,414     $ 10,920,077     $ 92,147,402     $ 287,493,230  
                                                                                 
(a) Investments in Funds, shares outstanding
     489,881       790,184       1,071,776       9,186,714       28,066,705       39,900,476       3,853,369       1,132,788       7,815,725       24,977,692  
      Investments in Funds, at cost
   $ 4,839,948     $ 7,964,734     $ 10,730,638     $ 107,772,323     $ 326,623,386     $ 459,230,958     $ 37,845,628     $ 11,619,942     $ 87,093,102     $ 276,633,054  
 
See notes to the financial statements.
 
2
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
   
Curian Dynamic Risk Advantage - Diversified Fund
    
Curian Dynamic Risk Advantage - Growth Fund
    
Curian Dynamic Risk Advantage - Income Fund
    
Curian Focused International Equity Fund
    
Curian Focused U.S. Equity Fund
    
Curian Long Short Credit Fund
    
Curian Tactical Advantage 35 Fund
    
Curian Tactical Advantage 60 Fund
    
Curian Tactical Advantage 75 Fund
    
Curian/Aberdeen Latin America Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 244,165,670     $ 57,556,283     $ 173,807,081     $ 3,201,218     $ 6,295,278     $ 12,692,879     $ 45,819,993     $ 109,627,946     $ 98,242,884     $ 1,628,094  
Receivables:
                                                                                
   Investments in Fund shares sold
     117,385       37,297       175,657       91       174       397       11,570       18,605       13,470       5,284  
   Investment Division units sold
     138,772       88,798       125,027       24,293       175       —       7,515       43,392       20,128       472  
Total assets
     244,421,827       57,682,378       174,107,765       3,225,602       6,295,627       12,693,276       45,839,078       109,689,943       98,276,482       1,633,850  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     138,772       88,798       125,027       24,293       175       —       7,515       43,392       20,128       472  
   Investment Division units redeemed
     110,278       35,671       170,528       —       —       8       10,218       15,408       10,701       5,238  
   Insurance fees due to Jackson
     7,107       1,626       5,129       91       174       389       1,352       3,197       2,769       46  
Total liabilities
     256,157       126,095       300,684       24,384       349       397       19,085       61,997       33,598       5,756  
Net assets (Note 7)
   $ 244,165,670     $ 57,556,283     $ 173,807,081     $ 3,201,218     $ 6,295,278     $ 12,692,879     $ 45,819,993     $ 109,627,946     $ 98,242,884     $ 1,628,094  
                                                                                 
(a) Investments in Funds, shares outstanding
     22,776,648       6,438,063       15,945,604       307,219       554,650       1,308,544       4,131,650       9,204,697       7,916,429       235,956  
      Investments in Funds, at cost
   $ 233,927,877     $ 60,679,946     $ 167,318,678     $ 3,239,065     $ 6,208,537     $ 13,281,705     $ 44,574,676     $ 103,998,812     $ 92,995,472     $ 1,974,116  
 
See notes to the financial statements.
 
3
 
Jackson National Separate Account I
  
Statements of Assets and Liabilities
  
December 31, 2014
  
 
   
Curian/American Funds Global Growth Fund
    
Curian/American Funds Growth Fund
    
Curian/AQR Risk Parity Fund
    
Curian/Ashmore Emerging Market Small Cap Equity Fund
    
Curian/Baring International Fixed Income Fund
    
Curian/BlackRock Global Long Short Credit Fund
    
Curian/CenterSquare International Real Estate Securities Fund
    
Curian/DFA U.S. Micro Cap Fund
    
Curian/DoubleLine Total Return Fund
    
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 31,091,576     $ 98,155,499     $ 19,064,846     $ 3,354,455     $ 3,892,490     $ 53,933,018     $ 7,554,648     $ 33,714,578     $ 68,288,775     $ 14,150,165  
Receivables:
                                                                                
   Investments in Fund shares sold
     5,137       110,735       61,457       98       673       1,616       300       1,007       15,272       12,601  
   Investment Division units sold
     430,887       128,575       15,269       17,147       —       158,596       27,127       46,507       719,765       23,671  
Total assets
     31,527,600       98,394,809       19,141,572       3,371,700       3,893,163       54,093,230       7,582,075       33,762,092       69,023,812       14,186,437  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     430,887       128,575       15,269       17,147       —       158,596       27,127       46,507       719,765       23,671  
   Investment Division units redeemed
     4,266       107,953       60,902       3       558       30       83       35       13,324       12,187  
   Insurance fees due to Jackson
     871       2,782       555       95       115       1,586       217       972       1,948       414  
Total liabilities
     436,024       239,310       76,726       17,245       673       160,212       27,427       47,514       735,037       36,272  
Net assets (Note 7)
   $ 31,091,576     $ 98,155,499     $ 19,064,846     $ 3,354,455     $ 3,892,490     $ 53,933,018     $ 7,554,648     $ 33,714,578     $ 68,288,775     $ 14,150,165  
                                                                                 
(a) Investments in Funds, shares outstanding
     2,773,557       6,605,350       1,819,165       361,861       418,098       5,277,203       842,213       2,501,081       6,430,205       1,419,274  
      Investments in Funds, at cost
   $ 30,418,911     $ 88,449,667     $ 19,814,065     $ 3,644,098     $ 4,122,725     $ 53,764,474     $ 7,835,386     $ 33,927,151     $ 67,244,246     $ 13,692,843  
 
See notes to the financial statements.
 
4
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
   
Curian/Epoch Global Shareholder Yield Fund
    
Curian/FAMCO Flex Core Covered Call Fund
    
Curian/Franklin Templeton Frontier Markets Fund
    
Curian/Franklin Templeton Natural Resources Fund
    
Curian/Lazard International Strategic Equity Fund
    
Curian/Neuberger Berman Currency Fund
    
Curian/Neuberger Berman Risk Balanced Commodity Strategy Fund
    
Curian/Nicholas Convertible Arbitrage Fund
    
Curian/PIMCO Credit Income Fund
    
Curian/PineBridge Merger Arbitrage Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 26,393,402     $ 106,384,844     $ 17,185,260     $ 26,805,056     $ 14,612,567     $ 14,461,446     $ 3,124,236     $ 64,332,150     $ 34,347,229     $ 65,410,767  
Receivables:
                                                                                
   Investments in Fund shares sold
     783       71,834       629       38,969       419       59,925       2,855       84,093       10,477       55,000  
   Investment Division units sold
     310,879       234,680       28,112       60,428       2,000       658       8,972       2,186       68,260       5,832  
Total assets
     26,705,064       106,691,358       17,214,001       26,904,453       14,614,986       14,522,029       3,136,063       64,418,429       34,425,966       65,471,599  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     310,879       234,680       28,112       60,428       2,000       658       8,972       2,186       68,260       5,832  
   Investment Division units redeemed
     30       68,747       145       38,200       7       59,497       2,765       82,222       9,489       53,111  
   Insurance fees due to Jackson
     753       3,087       484       769       412       428       90       1,871       988       1,889  
Total liabilities
     311,662       306,514       28,741       99,397       2,419       60,583       11,827       86,279       78,737       60,832  
Net assets (Note 7)
   $ 26,393,402     $ 106,384,844     $ 17,185,260     $ 26,805,056     $ 14,612,567     $ 14,461,446     $ 3,124,236     $ 64,332,150     $ 34,347,229     $ 65,410,767  
                                                                                 
(a) Investments in Funds, shares outstanding
     2,231,057       8,614,157       1,828,219       4,474,968       1,278,440       1,427,586       403,648       6,325,678       3,139,600       6,534,542  
      Investments in Funds, at cost
   $ 26,446,308     $ 97,041,687     $ 21,500,529     $ 38,608,923     $ 14,691,126     $ 14,277,962     $ 3,667,544     $ 66,981,603     $ 33,410,049     $ 65,776,771  
 
See notes to the financial statements.
 
5
 
Jackson National Separate Account I
      
Statements of Assets and Liabilities
          
December 31, 2014
          
 
   
Curian/Schroder Emerging Europe Fund
    
Curian/T. Rowe Price Capital Appreciation Fund
    
Curian/The Boston Company Equity Income Fund
    
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund
    
Curian/UBS Global Long Short Fixed Income Opportunities Fund
    
Curian/Van Eck International Gold Fund
    
JNL Disciplined Growth Fund
    
JNL Disciplined Moderate Fund
    
JNL Disciplined Moderate Growth Fund
    
JNL Institutional Alt 20 Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 2,421,073     $ 84,807,913     $ 46,574,786     $       $ 14,945,532     $ 26,144,536     $ 650,863,142     $ 1,200,467,262     $ 1,472,585,837     $ 1,687,365,975  
Receivables:
                                                                                
   Investments in Fund shares sold
     2,212       149,488       3,026       —       451       8,004       131,520       235,411       401,181       626,551  
   Investment Division units sold
     30,541       703,839       140,963       —       963       72,127       331,785       922,725       167,264       587,496  
Total assets
     2,453,826       85,661,240       46,718,775       —       14,946,946       26,224,667       651,326,447       1,201,625,398       1,473,154,282       1,688,580,022  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     30,541       703,839       140,963       —       963       72,127       331,785       922,725       167,264       587,496  
   Investment Division units redeemed
     2,144       147,060       1,679       —       10       7,255       105,580       187,803       343,293       560,831  
   Insurance fees due to Jackson
     68       2,428       1,347       —       441       749       25,940       47,608       57,888       65,720  
Total liabilities
     32,753       853,327       143,989       —       1,414       80,131       463,305       1,158,136       568,445       1,214,047  
Net assets (Note 7)
   $ 2,421,073     $ 84,807,913     $ 46,574,786     $ —     $ 14,945,532     $ 26,144,536     $ 650,863,142     $ 1,200,467,262     $ 1,472,585,837     $ 1,687,365,975  
                                                                                 
(a) Investments in Funds, shares outstanding
     333,941       7,445,822       3,243,369       —       1,569,909       5,955,475       59,767,047       100,625,923       127,939,690       104,222,729  
      Investments in Funds, at cost
   $ 3,151,559     $ 82,752,843     $ 43,366,737     $ —     $ 15,511,068     $ 34,315,110     $ 586,300,317     $ 1,101,494,550     $ 1,318,077,980     $ 1,529,602,561  
 
See notes to the financial statements.
 
6
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
   
JNL Institutional Alt 35 Fund
    
JNL Institutional Alt 50 Fund
    
JNL Institutional Alt 65 Fund
    
JNL/ AllianceBernstein Dynamic Asset Allocation Fund
    
JNL/American Funds Balanced Allocation Fund
    
JNL/American Funds Blue Chip Income and Growth Fund
    
JNL/American Funds Global Bond Fund
    
JNL/American Funds Global Small Capitalization Fund
    
JNL/American Funds Growth Allocation Fund
    
JNL/American Funds Growth-Income Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 2,248,151,281     $ 3,167,812,442     $ 622,021,169     $ 18,690,010     $ 749,736,556     $ 1,747,476,624     $ 467,955,526     $ 370,904,900     $ 640,593,136     $ 2,316,145,307  
Receivables:
                                                                                
   Investments in Fund shares sold
     867,177       1,583,239       726,032       626       439,992       1,987,656       282,763       1,213,543       289,772       587,470  
   Investment Division units sold
     117,218       703,066       7,849       117,917       511,211       1,703,592       90,937       65,860       702,617       2,442,183  
Total assets
     2,249,135,676       3,170,098,747       622,755,050       18,808,553       750,687,759       1,751,167,872       468,329,226       372,184,303       641,585,525       2,319,174,960  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     117,218       703,066       7,849       117,917       511,211       1,703,592       90,937       65,860       702,617       2,442,183  
   Investment Division units redeemed
     778,171       1,455,859       700,795       104       410,088       1,917,710       263,733       1,198,928       264,420       498,005  
   Insurance fees due to Jackson
     89,006       127,380       25,237       522       29,904       69,946       19,030       14,615       25,352       89,465  
Total liabilities
     984,395       2,286,305       733,881       118,543       951,203       3,691,248       373,700       1,279,403       992,389       3,029,653  
Net assets (Note 7)
   $ 2,248,151,281     $ 3,167,812,442     $ 622,021,169     $ 18,690,010     $ 749,736,556     $ 1,747,476,624     $ 467,955,526     $ 370,904,900     $ 640,593,136     $ 2,316,145,307  
                                                                                 
(a) Investments in Funds, shares outstanding
     136,582,702       190,259,006       39,593,964       1,837,759       60,805,884       102,551,445       44,230,201       27,845,713       49,466,651       136,726,405  
      Investments in Funds, at cost
   $ 2,070,702,817     $ 2,972,220,349     $ 607,010,011     $ 18,782,577     $ 700,748,394     $ 1,361,804,144     $ 482,925,265     $ 328,998,907     $ 595,612,402     $ 1,862,331,331  
 
See notes to the financial statements.
 
7
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
   
JNL/American Funds International Fund
    
JNL/American Funds New World Fund
    
JNL/AQR Managed Futures Strategy Fund
    
JNL/BlackRock Commodity Securities Strategy Fund
    
JNL/BlackRock Global Allocation Fund
    
JNL/BlackRock Large Cap Select Growth Fund
    
JNL/Boston Partners Global Long Short Equity Fund
    
JNL/Brookfield Global Infrastructure and MLP Fund
    
JNL/Capital Guardian Global Balanced Fund
    
JNL/Capital Guardian Global Diversified Research Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 679,178,639     $ 701,140,608     $ 99,749,786     $ 843,027,945     $ 3,274,351,419     $ 693,280,625     $ 3,303,299     $ 853,801,352     $ 449,386,945     $ 408,782,494  
Receivables:
                                                                                
   Investments in Fund shares sold
     317,273       618,606       9,252       749,983       2,018,431       548,711       59,536       1,695,476       249,949       261,621  
   Investment Division units sold
     1,240,696       257,897       235,472       608,533       2,233,289       358,007       6,155       761,646       99,852       57,331  
Total assets
     680,736,608       702,017,111       99,994,510       844,386,461       3,278,603,139       694,187,343       3,368,990       856,258,474       449,736,746       409,101,446  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     1,240,696       257,897       235,472       608,533       2,233,289       358,007       6,155       761,646       99,852       57,331  
   Investment Division units redeemed
     291,052       590,711       6,362       716,243       1,891,882       521,295       59,440       1,662,866       231,753       244,889  
   Insurance fees due to Jackson
     26,221       27,895       2,890       33,740       126,549       27,416       96       32,610       18,196       16,732  
Total liabilities
     1,557,969       876,503       244,724       1,358,516       4,251,720       906,718       65,691       2,457,122       349,801       318,952  
Net assets (Note 7)
   $ 679,178,639     $ 701,140,608     $ 99,749,786     $ 843,027,945     $ 3,274,351,419     $ 693,280,625     $ 3,303,299     $ 853,801,352     $ 449,386,945     $ 408,782,494  
                                                                                 
(a) Investments in Funds, shares outstanding
     55,083,426       62,657,784       9,693,857       88,090,694       267,731,105       24,654,361       335,020       55,622,238       39,910,031       13,001,988  
      Investments in Funds, at cost
   $ 632,128,895     $ 712,840,400     $ 97,112,978     $ 926,718,550     $ 3,050,268,934     $ 582,692,692     $ 3,267,181     $ 839,751,733     $ 394,632,920     $ 316,836,362  
 
See notes to the financial statements.
 
8
 
Jackson National Separate Account I
  
Statements of Assets and Liabilities
  
December 31, 2014
 
   
JNL/DFA U.S. Core Equity Fund
    
JNL/Eagle SmallCap Equity Fund
    
JNL/Eastspring Investments Asia ex-Japan Fund
    
JNL/Eastspring Investments China-India Fund
    
JNL/Franklin Templeton Founding Strategy Fund
    
JNL/Franklin Templeton Global Growth Fund
    
JNL/Franklin Templeton Global Multisector Bond Fund
    
JNL/Franklin Templeton Income Fund
    
JNL/Franklin Templeton International Small Cap Growth Fund
    
JNL/Franklin Templeton Mutual Shares Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 567,701,179     $ 1,096,100,961     $ 128,090,211     $ 349,714,430     $ 1,557,952,149     $ 521,536,485     $ 737,968,724     $ 1,997,943,848     $ 424,813,687     $ 625,966,359  
Receivables:
                                                                                
   Investments in Fund shares sold
     420,885       680,465       85,122       145,367       842,808       476,127       1,027,456       770,083       261,292       525,097  
   Investment Division units sold
     473,350       412,134       64,366       468,708       381,709       108,789       727,263       4,887,748       471,027       137,133  
Total assets
     568,595,414       1,097,193,560       128,239,699       350,328,505       1,559,176,666       522,121,401       739,723,443       2,003,601,679       425,546,006       626,628,589  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     473,350       412,134       64,366       468,708       381,709       108,789       727,263       4,887,748       471,027       137,133  
   Investment Division units redeemed
     398,864       636,315       79,910       131,200       779,405       454,661       998,304       690,554       244,597       499,768  
   Insurance fees due to Jackson
     22,021       44,150       5,212       14,167       63,403       21,466       29,152       79,529       16,695       25,329  
Total liabilities
     894,235       1,092,599       149,488       614,075       1,224,517       584,916       1,754,719       5,657,831       732,319       662,230  
Net assets (Note 7)
   $ 567,701,179     $ 1,096,100,961     $ 128,090,211     $ 349,714,430     $ 1,557,952,149     $ 521,536,485     $ 737,968,724     $ 1,997,943,848     $ 424,813,687     $ 625,966,359  
                                                                                 
(a) Investments in Funds, shares outstanding
     49,842,070       40,194,388       16,193,453       44,323,755       130,154,733       46,441,361       64,115,441       170,327,694       44,483,109       51,141,042  
      Investments in Funds, at cost
   $ 484,756,014     $ 982,059,630     $ 129,441,533     $ 326,837,246     $ 1,292,440,358     $ 477,374,850     $ 761,078,406     $ 1,904,895,048     $ 421,546,980     $ 496,817,331  
 
See notes to the financial statements.
 
9
 
Jackson National Separate Account I
    
Statements of Assets and Liabilities
    
December 31, 2014
  
 
   
JNL/Franklin Templeton Small Cap Value Fund
    
JNL/Goldman Sachs Core Plus Bond Fund
    
JNL/Goldman Sachs Emerging Markets Debt Fund
    
JNL/Goldman Sachs Mid Cap Value Fund
    
JNL/Goldman Sachs U.S. Equity Flex Fund
    
JNL/Invesco Global Real Estate Fund
    
JNL/Invesco International Growth Fund
    
JNL/Invesco Large Cap Growth Fund
    
JNL/Invesco Mid Cap Value Fund
    
JNL/Invesco Small Cap Growth Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 590,902,519     $ 774,772,895     $ 197,206,893     $ 718,036,413     $ 316,098,716     $ 1,284,167,861     $ 619,284,985     $ 565,049,969     $ 311,142,610     $ 608,506,397  
Receivables:
                                                                                
   Investments in Fund shares sold
     1,094,747       342,874       161,645       747,825       205,556       1,583,296       444,215       248,055       320,400       972,437  
   Investment Division units sold
     585,104       824,906       84,191       626,787       469,921       884,475       294,914       1,590,038       80,579       790,877  
Total assets
     592,582,370       775,940,675       197,452,729       719,411,025       316,774,193       1,286,635,632       620,024,114       566,888,062       311,543,589       610,269,711  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     585,104       824,906       84,191       626,787       469,921       884,475       294,914       1,590,038       80,579       790,877  
   Investment Division units redeemed
     1,071,353       311,377       154,001       718,482       192,712       1,532,119       420,209       225,387       307,765       948,350  
   Insurance fees due to Jackson
     23,394       31,497       7,644       29,343       12,844       51,177       24,006       22,668       12,635       24,087  
Total liabilities
     1,679,851       1,167,780       245,836       1,374,612       675,477       2,467,771       739,129       1,838,093       400,979       1,763,314  
Net assets (Note 7)
   $ 590,902,519     $ 774,772,895     $ 197,206,893     $ 718,036,413     $ 316,098,716     $ 1,284,167,861     $ 619,284,985     $ 565,049,969     $ 311,142,610     $ 608,506,397  
                                                                                 
(a) Investments in Funds, shares outstanding
     38,900,758       65,603,124       18,853,431       61,634,027       26,232,259       118,356,485       48,647,681       37,973,788       19,100,222       29,828,745  
      Investments in Funds, at cost
   $ 539,374,748     $ 795,095,859     $ 241,164,651     $ 724,030,736     $ 281,779,319     $ 1,163,981,562     $ 558,350,263     $ 557,851,732     $ 252,622,146     $ 527,690,708  
 
See notes to the financial statements.
 
10
 
Jackson National Separate Account I
  
Statements of Assets and Liabilities
  
December 31, 2014
  
 
   
JNL/Ivy Asset Strategy Fund
    
JNL/JPMorgan International Value Fund
    
JNL/JPMorgan MidCap Growth Fund
    
JNL/JPMorgan U.S. Government & Quality Bond Fund
    
JNL/Lazard Emerging Markets Fund
    
JNL/M&G Global Basics Fund
    
JNL/MC 10 x 10 Fund
    
JNL/MC 25 Fund
    
JNL/MC Bond Index Fund
    
JNL/MC Communications Sector Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 2,903,055,412     $ 431,510,424     $ 740,280,882     $ 633,095,753     $ 492,894,638     $ —     $ 393,768,518     $ 866,940,930     $ 652,066,839     $ 122,345,356  
Receivables:
                                                                                
   Investments in Fund shares sold
     2,509,517       332,919       764,211       396,449       828,441       —       692,770       871,327       428,093       110,424  
   Investment Division units sold
     1,134,941       144,194       299,197       1,134,979       257,892       —       17,404       363,643       2,499,239       34,091  
Total assets
     2,906,699,870       431,987,537       741,344,290       634,627,181       493,980,971       —       394,478,692       868,175,900       654,994,171       122,489,871  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     1,134,941       144,194       299,197       1,134,979       257,892       —       17,404       363,643       2,499,239       34,091  
   Investment Division units redeemed
     2,394,658       315,207       735,143       370,527       809,206       —       677,049       836,008       402,092       105,422  
   Insurance fees due to Jackson
     114,859       17,712       29,068       25,922       19,235       —       15,721       35,319       26,001       5,002  
Total liabilities
     3,644,458       477,113       1,063,408       1,531,428       1,086,333       —       710,174       1,234,970       2,927,332       144,515  
Net assets (Note 7)
   $ 2,903,055,412     $ 431,510,424     $ 740,280,882     $ 633,095,753     $ 492,894,638     $ —     $ 393,768,518     $ 866,940,930     $ 652,066,839     $ 122,345,356  
                                                                                 
(a) Investments in Funds, shares outstanding
     212,833,974       58,869,089       23,169,981       47,281,236       49,437,777       —       34,571,424       49,286,011       55,353,721       26,198,149  
      Investments in Funds, at cost
   $ 2,691,446,882     $ 454,773,569     $ 646,094,232     $ 647,227,536     $ 529,251,769     $ —     $ 311,807,115     $ 787,322,187     $ 663,415,600     $ 109,231,645  
 
See notes to the financial statements.
 
11
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
   
JNL/MC Consumer Brands Sector Fund
    
JNL/MC Dow 10 Fund
    
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund
    
JNL/MC Emerging Markets Index Fund
    
JNL/MC European 30 Fund
    
JNL/MC Financial Sector Fund
    
JNL/MC Global 15 Fund
    
JNL/MC Global Alpha Fund
    
JNL/MC Healthcare Sector Fund
    
JNL/MC Index 5 Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 517,690,063     $ 580,636,341     $ 98,136,758     $ 476,725,115     $ 245,362,210     $ 556,140,439     $ 382,907,952     $ 41,144,304     $ 1,902,635,394     $ 681,568,328  
Receivables:
                                                                                
   Investments in Fund shares sold
     308,953       1,602,740       58,366       506,700       754,009       1,437,681       536,914       9,963       2,343,532       265,706  
   Investment Division units sold
     1,782,659       232,366       73,108       232,814       222,003       928,496       355,423       11,768       1,943,177       216,685  
Total assets
     519,781,675       582,471,447       98,268,232       477,464,629       246,338,222       558,506,616       383,800,289       41,166,035       1,906,922,103       682,050,719  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     1,782,659       232,366       73,108       232,814       222,003       928,496       355,423       11,768       1,943,177       216,685  
   Investment Division units redeemed
     288,139       1,578,713       54,305       487,623       744,303       1,415,037       521,241       8,463       2,266,593       238,473  
   Insurance fees due to Jackson
     20,814       24,027       4,061       19,077       9,706       22,644       15,673       1,500       76,939       27,233  
Total liabilities
     2,091,612       1,835,106       131,474       739,514       976,012       2,366,177       892,337       21,731       4,286,709       482,391  
Net assets (Note 7)
   $ 517,690,063     $ 580,636,341     $ 98,136,758     $ 476,725,115     $ 245,362,210     $ 556,140,439     $ 382,907,952     $ 41,144,304     $ 1,902,635,394     $ 681,568,328  
                                                                                 
(a) Investments in Funds, shares outstanding
     28,507,162       30,835,706       7,920,642       49,248,462       19,519,667       49,655,396       15,961,148       4,622,956       75,832,419       56,050,027  
      Investments in Funds, at cost
   $ 435,256,282     $ 419,329,197     $ 106,928,932     $ 503,499,742     $ 256,789,879     $ 460,389,018     $ 283,457,411     $ 46,487,125     $ 1,493,210,293     $ 575,983,115  
 
See notes to the financial statements.
 
12
 
Jackson National Separate Account I
          
Statements of Assets and Liabilities
              
December 31, 2014
        
 
                                                             
   
JNL/MC International Index Fund
    
JNL/MC JNL 5 Fund
    
JNL/MC JNL Optimized 5 Fund
    
JNL/MC Nasdaq 25 Fund
    
JNL/MC NYSE International 25 Fund
    
JNL/MC Oil & Gas Sector Fund
    
JNL/MC Pacific Rim 30 Fund
    
JNL/MC S&P 24 Fund
    
JNL/MC S&P 400 MidCap Index Fund
    
JNL/MC S&P 500 Index Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 856,844,761     $ 2,985,709,749     $ 406,937,386     $ 750,347,802     $ —     $ 1,140,786,352     $ 115,033,729     $ 340,688,159     $ 1,279,351,644     $ 3,229,424,582  
Receivables:
                                                                                
   Investments in Fund shares sold
     485,283       3,666,527       458,458       640,523       —       751,919       33,803       308,510       703,814       1,889,979  
   Investment Division units sold
     1,558,735       1,363,709       198,519       1,644,443       —       3,148,047       430,389       66,020       764,202       2,540,411  
Total assets
     858,888,779       2,990,739,985       407,594,363       752,632,768       —       1,144,686,318       115,497,921       341,062,689       1,280,819,660       3,233,854,972  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     1,558,735       1,363,709       198,519       1,644,443       —       3,148,047       430,389       66,020       764,202       2,540,411  
   Investment Division units redeemed
     451,532       3,544,370       441,698       610,003       —       705,730       29,313       294,491       652,955       1,761,366  
   Insurance fees due to Jackson
     33,751       122,157       16,760       30,520       —       46,189       4,490       14,019       50,859       128,613  
Total liabilities
     2,044,018       5,030,236       656,977       2,284,966       —       3,899,966       464,192       374,530       1,468,016       4,430,390  
Net assets (Note 7)
   $ 856,844,761     $ 2,985,709,749     $ 406,937,386     $ 750,347,802     $ —     $ 1,140,786,352     $ 115,033,729     $ 340,688,159     $ 1,279,351,644     $ 3,229,424,582  
                                                                                 
(a) Investments in Funds, shares outstanding
     64,961,695       226,018,906       34,574,119       35,244,143       —       37,975,578       8,415,050       24,562,953       67,334,297       188,744,862  
      Investments in Funds, at cost
   $ 862,925,510     $ 2,358,455,383     $ 336,923,922     $ 649,649,494     $ —     $ 1,179,728,325     $ 117,914,340     $ 324,229,680     $ 1,120,141,944     $ 2,579,367,480  
 
See notes to the financial statements.
 
13
 
Jackson National Separate Account I
                  
Statements of Assets and Liabilities
              
December 31, 2014
                  
 
   
JNL/MC S&P SMid 60 Fund
    
JNL/MC Small Cap Index Fund
    
JNL/MC Technology Sector Fund
    
JNL/MC Utilities Sector Fund
    
JNL/MC Value Line 30 Fund
    
JNL/MMRS Conservative Fund
    
JNL/MMRS Growth Fund
    
JNL/MMRS Moderate Fund
    
JNL/Morgan Stanley Mid Cap Growth Fund
    
JNL/Neuberger Berman Strategic Income Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 392,884,476     $ 1,179,021,383     $ 902,611,207     $ 43,475,821     $ 432,099,984     $ 24,944,185     $ 17,561,425     $ 44,028,674     $ 84,869,532     $ 333,742,609  
Receivables:
                                                                                
   Investments in Fund shares sold
     342,380       816,459       1,149,552       1,309       833,566       759       493       32,036       286,331       56,540  
   Investment Division units sold
     391,877       716,437       1,200,587       251,080       259,945       19,834       55,998       49,865       36,883       4,376,350  
Total assets
     393,618,733       1,180,554,279       904,961,346       43,728,210       433,193,495       24,964,778       17,617,916       44,110,575       85,192,746       338,175,499  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     391,877       716,437       1,200,587       251,080       259,945       19,834       55,998       49,865       36,883       4,376,350  
   Investment Division units redeemed
     326,698       768,927       1,112,975       25       815,730       29       —       30,758       282,916       42,891  
   Insurance fees due to Jackson
     15,682       47,532       36,577       1,284       17,836       730       493       1,278       3,415       13,649  
Total liabilities
     734,257       1,532,896       2,350,139       252,389       1,093,511       20,593       56,491       81,901       323,214       4,432,890  
Net assets (Note 7)
   $ 392,884,476     $ 1,179,021,383     $ 902,611,207     $ 43,475,821     $ 432,099,984     $ 24,944,185     $ 17,561,425     $ 44,028,674     $ 84,869,532     $ 333,742,609  
                                                                                 
(a) Investments in Funds, shares outstanding
     30,790,319       67,526,998       83,807,911       3,668,846       27,522,292       2,377,901       1,682,129       4,209,242       6,553,632       30,646,704  
      Investments in Funds, at cost
   $ 385,991,589     $ 1,002,752,552     $ 741,651,520     $ 39,419,114     $ 384,283,459     $ 24,635,328     $ 17,446,823     $ 43,620,790     $ 83,088,475     $ 329,927,428  
 
See notes to the financial statements.
 
14
 
Jackson National Separate Account I
  
Statements of Assets and Liabilities
  
December 31, 2014
      
 
   
JNL/Oppenheimer Global Growth Fund
    
JNL/PIMCO Real Return Fund
    
JNL/PIMCO Total Return Bond Fund
    
JNL/PPM America Floating Rate Income Fund
    
JNL/PPM America High Yield Bond Fund
    
JNL/PPM America Mid Cap Value Fund
    
JNL/PPM America Small Cap Value Fund
    
JNL/PPM America Value Equity Fund
    
JNL/Red Rocks Listed Private Equity Fund
    
JNL/S&P 4 Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 693,160,565     $ 1,317,828,451     $ 3,192,629,103     $ 1,190,883,299     $ 1,605,816,753     $ 303,239,522     $ 199,123,929     $ 202,023,417     $ 497,608,907     $ 4,667,940,627  
Receivables:
                                                                                
   Investments in Fund shares sold
     315,624       1,703,739       1,709,135       1,025,165       2,823,064       148,154       180,054       88,816       3,652,629       4,340,907  
   Investment Division units sold
     501,716       470,557       1,705,234       1,008,865       570,315       376,032       78,349       90,840       146,395       6,777,421  
Total assets
     693,977,905       1,320,002,747       3,196,043,472       1,192,917,329       1,609,210,132       303,763,708       199,382,332       202,203,073       501,407,931       4,679,058,955  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     501,716       470,557       1,705,234       1,008,865       570,315       376,032       78,349       90,840       146,395       6,777,421  
   Investment Division units redeemed
     287,289       1,650,102       1,579,944       978,337       2,758,306       136,320       171,812       80,618       3,634,321       4,158,731  
   Insurance fees due to Jackson
     28,335       53,637       129,191       46,828       64,758       11,834       8,242       8,198       18,308       182,176  
Total liabilities
     817,340       2,174,296       3,414,369       2,034,030       3,393,379       524,186       258,403       179,656       3,799,024       11,118,328  
Net assets (Note 7)
   $ 693,160,565     $ 1,317,828,451     $ 3,192,629,103     $ 1,190,883,299     $ 1,605,816,753     $ 303,239,522     $ 199,123,929     $ 202,023,417     $ 497,608,907     $ 4,667,940,627  
                                                                                 
(a) Investments in Funds, shares outstanding
     48,848,525       125,987,424       253,182,324       111,820,028       241,476,203       19,513,483       17,684,186       10,462,114       45,610,349       252,730,949  
      Investments in Funds, at cost
   $ 600,094,690     $ 1,512,106,079     $ 3,254,237,455     $ 1,215,055,720     $ 1,746,113,225     $ 268,278,938     $ 208,309,320     $ 167,802,848     $ 469,701,830     $ 3,823,620,371  
 
See notes to the financial statements.
 
15
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
                                                             
   
JNL/S&P Competitive Advantage Fund
    
JNL/S&P Dividend Income & Growth Fund
    
JNL/S&P International 5 Fund
    
JNL/S&P Intrinsic Value Fund
    
JNL/S&P Managed Aggressive Growth Fund
    
JNL/S&P Managed Conservative Fund
    
JNL/S&P Managed Growth Fund
    
JNL/S&P Managed Moderate Fund
    
JNL/S&P Managed Moderate Growth Fund
    
JNL/S&P Mid 3 Fund
  
Assets
                                                            
Investments, at fair value (a)
   $ 768,629,162     $ 2,242,009,582     $ 2,469,128     $ 1,041,964,651     $ 1,593,830,558     $ 1,508,869,615     $ 4,602,746,712     $ 3,148,394,715     $ 5,884,253,118     $ 80,070,520  
Receivables:
                                                                                
   Investments in Fund shares sold
     859,313       1,797,986       69       901,526       587,180       1,028,568       2,000,828       1,636,537       2,176,560       118,101  
   Investment Division units sold
     638,113       1,195,166       3,564       5,429,097       560,615       733,615       1,574,135       609,102       1,931,610       245,898  
Total assets
     770,126,588       2,245,002,734       2,472,761       1,048,295,274       1,594,978,353       1,510,631,798       4,606,321,675       3,150,640,354       5,888,361,288       80,434,519  
                                                                                 
Liabilities
                                                                                
Payables:
                                                                                
   Investments in Fund shares purchased
     638,113       1,195,166       3,564       5,429,097       560,615       733,615       1,574,135       609,102       1,931,610       245,898  
   Investment Division units redeemed
     827,596       1,706,423       —       859,008       523,432       965,881       1,816,376       1,509,158       1,939,686       115,046  
   Insurance fees due to Jackson
     31,717       91,563       69       42,518       63,748       62,687       184,452       127,379       236,874       3,055  
Total liabilities
     1,497,426       2,993,152       3,633       6,330,623       1,147,795       1,762,183       3,574,963       2,245,639       4,108,170       363,999  
Net assets (Note 7)
   $ 768,629,162     $ 2,242,009,582     $ 2,469,128     $ 1,041,964,651     $ 1,593,830,558     $ 1,508,869,615     $ 4,602,746,712     $ 3,148,394,715     $ 5,884,253,118     $ 80,070,520  
                                                                                 
(a) Investments in Funds, shares outstanding
     45,507,943       146,824,465       261,007       62,958,589       93,534,657       124,186,800       312,262,328       236,721,407       407,779,149       7,017,574  
      Investments in Funds, at cost
   $ 686,970,158     $ 1,937,249,292     $ 2,483,258     $ 955,501,969     $ 1,285,702,940     $ 1,426,246,053     $ 3,804,105,803     $ 2,812,445,773     $ 5,034,499,678     $ 76,231,485  
 
See notes to the financial statements.
 
16
 
Jackson National Separate Account I
Statements of Assets and Liabilities
December 31, 2014
 
   
JNL/S&P Total Yield Fund
    
JNL/Scout Unconstrained Bond Fund
    
JNL/T. Rowe Price Established Growth Fund
    
JNL/T. Rowe Price Mid-Cap Growth Fund
    
JNL/T. Rowe Price Short-Term Bond Fund
    
JNL/T. Rowe Price Value Fund
    
JNL/WMC Balanced Fund
    
JNL/WMC Money Market Fund
    
JNL/WMC Value Fund
  
Assets
                                                      
Investments, at fair value (a)
   $ 582,104,033     $ 15,934,607     $ 2,315,475,546     $ 2,578,873,478     $ 818,120,643     $ 1,326,726,370     $ 4,024,875,657     $ 1,216,576,030     $ 668,418,797  
Receivables:
                                                                        
   Investments in Fund shares sold
     1,219,455       3,632       1,922,766       1,369,792       1,223,608       1,270,927       1,163,071       2,624,266       538,680  
   Investment Division units sold
     1,510,217       70,977       1,225,747       1,243,958       1,214,242       665,310       2,056,929       3,744,321       479,772  
Total assets
     584,833,705       16,009,216       2,318,624,059       2,581,487,228       820,558,493       1,328,662,607       4,028,095,657       1,222,944,617       669,437,249  
                                                                         
Liabilities
                                                                        
Payables:
                                                                        
   Investments in Fund shares purchased
     1,510,217       70,977       1,225,747       1,243,958       1,214,242       665,310       2,056,929       3,744,321       479,772  
   Investment Division units redeemed
     1,195,610       3,174       1,831,171       1,266,227       1,191,003       1,218,620       1,006,977       2,575,417       511,793  
   Insurance fees due to Jackson
     23,845       458       91,595       103,565       32,605       52,307       156,094       48,849       26,887  
Total liabilities
     2,729,672       74,609       3,148,513       2,613,750       2,437,850       1,936,237       3,220,000       6,368,587       1,018,452  
Net assets (Note 7)
   $ 582,104,033     $ 15,934,607     $ 2,315,475,546     $ 2,578,873,478     $ 818,120,643     $ 1,326,726,370     $ 4,024,875,657     $ 1,216,576,030     $ 668,418,797  
                                                                         
(a) Investments in Funds, shares outstanding
     38,626,678       1,656,404       69,764,253       66,346,115       82,889,629       76,956,286       181,382,409       1,216,576,030       27,563,662  
      Investments in Funds, at cost
   $ 564,346,629     $ 16,214,885     $ 1,905,022,927     $ 2,172,813,702     $ 829,789,288     $ 1,118,200,019     $ 3,408,599,624     $ 1,216,576,030     $ 550,888,326  
 
See notes to the financial statements.
 
17
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
CG - Alt 100 Conservative Fund
    
CG - Alt 100 Growth Fund
    
CG - Alt 100 Moderate Fund
    
CG - Conservative Fund
    
CG - Equity 100 Fund
    
CG - Equity Income Fund
    
CG - Fixed Income 100 Fund
    
CG - Growth Fund
    
CG - Institutional Alt 65 Fund
    
CG - Interest Rate Opportunities Fund
  
Investment income
                                                            
   Dividends
   $ 146,272     $ 614,023     $ 3,349,838     $ 619,860     $ 406,893     $ 2,049,492     $ 518,997     $ 477,362     $ 1,000,488     $ 679,794  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     282,145       762,024       3,228,646       809,846       699,463       558,929       377,703       1,042,717       1,263,835       441,828  
Total expenses
     282,145       762,024       3,228,646       809,846       699,463       558,929       377,703       1,042,717       1,263,835       441,828  
Net investment income (loss)
     (135,873 )     (148,001 )     121,192       (189,986 )     (292,570 )     1,490,563       141,294       (565,355 )     (263,347 )     237,966  
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     11,349       23,758       3,988,809       292,261       2,925,046       847,192       —       377,996       1,639,250       59,231  
   Investments
     131,175       185,430       2,528,587       609,170       1,432,896       956,441       105,302       705,637       1,366,577       244,925  
Net change in unrealized appreciation
                                                                                
   (depreciation) on investments
     59,144       (979,662 )     (4,139,034 )     499,315       (1,385,167 )     262,061       (231,400 )     1,668,014       (1,218,150 )     (889,360 )
Net realized and unrealized gain (loss)
     201,668       (770,474 )     2,378,362       1,400,746       2,972,775       2,065,694       (126,098 )     2,751,647       1,787,677       (585,204 )
                                                                                 
Net increase (decrease) in net assets
                                                                                
   from operations
   $ 65,795     $ (918,475 )   $ 2,499,554     $ 1,210,760     $ 2,680,205     $ 3,556,257     $ 15,196     $ 2,186,292     $ 1,524,330     $ (347,238 )
 
See notes to the financial statements.
 
18
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
CG - International Conservative Fund
    
CG - International Growth Fund
    
CG - International Moderate Fund
    
CG - Maximum Growth Fund
    
CG - Moderate Fund
    
CG - Moderate Growth Fund
    
CG - Multi-Strategy Income Fund
    
CG - Real Assets Fund
    
CG - Tactical Maximum Growth Fund
    
CG - Tactical Moderate Growth Fund
  
Investment income
                                                            
   Dividends
   $ 34,636     $ 47,091     $ 84,591     $ 604,934     $ 1,988,567     $ 2,653,492     $ 483,486     $ 102,271     $ 443,557     $ 2,276,431  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     35,757       67,368       80,249       942,766       2,744,664       3,904,516       311,006       95,813       826,288       2,727,304  
Total expenses
     35,757       67,368       80,249       942,766       2,744,664       3,904,516       311,006       95,813       826,288       2,727,304  
Net investment income (loss)
     (1,121 )     (20,277 )     4,342       (337,832 )     (756,097 )     (1,251,024 )     172,480       6,458       (382,731 )     (450,873 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     11,950       14,598       19,491       3,315,028       5,952,954       7,851,232       54,667       9,333       3,201,380       11,637,588  
   Investments
     909       57,777       64,322       1,400,017       2,860,983       2,806,852       173,054       (1,584 )     1,261,970       3,038,557  
Net change in unrealized appreciation
                                                                                
   (depreciation) on investments
     (210,315 )     (423,192 )     (559,612 )     (1,674,601 )     (3,011,335 )     (354,980 )     (407,987 )     (762,068 )     (1,930,116 )     (5,731,616 )
Net realized and unrealized gain (loss)
     (197,456 )     (350,817 )     (475,799 )     3,040,444       5,802,602       10,303,104       (180,266 )     (754,319 )     2,533,234       8,944,529  
                                                                                 
Net increase (decrease) in net assets
                                                                                
   from operations
   $ (198,577 )   $ (371,094 )   $ (471,457 )   $ 2,702,612     $ 5,046,505     $ 9,052,080     $ (7,786 )   $ (747,861 )   $ 2,150,503     $ 8,493,656  
 
See notes to the financial statements.
 
19
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
Curian Dynamic Risk Advantage - Diversified Fund
    
Curian Dynamic Risk Advantage - Growth Fund
    
Curian Dynamic Risk Advantage - Income Fund
    
Curian Focused International Equity Fund
    
Curian Focused U.S. Equity Fund
    
Curian Long Short Credit Fund
    
Curian Tactical Advantage 35 Fund
    
Curian Tactical Advantage 60 Fund
    
Curian Tactical Advantage 75 Fund
    
Curian/Aberdeen Latin America Fund
  
Investment income
                                                            
   Dividends
   $ —     $ —     $ 3,115,053     $ —     $ 1,000     $ 222,033     $ 345,081     $ 700,830     $ 590,395     $ 22,976  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     2,512,953       594,313       1,660,897       18,645       38,844       112,505       430,320       1,037,633       908,345       20,972  
Total expenses
     2,512,953       594,313       1,660,897       18,645       38,844       112,505       430,320       1,037,633       908,345       20,972  
Net investment income (loss)
     (2,512,953 )     (594,313 )     1,454,156       (18,645 )     (37,844 )     109,528       (85,239 )     (336,803 )     (317,950 )     2,004  
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     160,707       280,718       1,655,416       448       1,958       196,674       1,097,969       3,446,743       3,723,779       —  
   Investments
     1,634,636       (778,077 )     1,417,882       2,571       (18,013 )     23,460       429,246       1,248,563       1,740,969       (138,780 )
Net change in unrealized appreciation
                                                                                
   (depreciation) on investments
     9,853,467       (2,004,531 )     5,783,050       (46,970 )     63,147       (754,555 )     (296,842 )     (881,337 )     (2,049,979 )     (270,573 )
Net realized and unrealized gain (loss)
     11,648,810       (2,501,890 )     8,856,348       (43,951 )     47,092       (534,421 )     1,230,373       3,813,969       3,414,769       (409,353 )
                                                                                 
Net increase (decrease) in net assets
                                                                                
   from operations
   $ 9,135,857     $ (3,096,203 )   $ 10,310,504     $ (62,596 )   $ 9,248     $ (424,893 )   $ 1,145,134     $ 3,477,166     $ 3,096,819     $ (407,349 )
 
See notes to the financial statements.
 
20
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
Curian/American Funds Global Growth Fund
    
Curian/American Funds Growth Fund
    
Curian/AQR Risk Parity Fund
    
Curian/Ashmore Emerging Market Small Cap Equity Fund
    
Curian/Baring International Fixed Income Fund
    
Curian/BlackRock Global Long Short Credit Fund
    
Curian/CenterSquare International Real Estate Securities Fund
    
Curian/DFA U.S. Micro Cap Fund
    
Curian/DoubleLine Total Return Fund
    
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund
  
Investment income
                                                            
   Dividends
   $ 41,656     $ 196,010     $ —     $ 583     $ 480     $ —     $ 233,042     $ —     $ 166,063     $ —  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     185,039       714,634       96,118       27,767       31,271       433,466       58,561       261,902       301,916       113,502  
Total expenses
     185,039       714,634       96,118       27,767       31,271       433,466       58,561       261,902       301,916       113,502  
Net investment income (loss)
     (143,383 )     (518,624 )     (96,118 )     (27,184 )     (30,791 )     (433,466 )     174,481       (261,902 )     (135,853 )     (113,502 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment
   companies
     703       138,356       621,850       47,746       4,453       —       —       2,609,394       —       —  
   Investments
     102,283       1,733,660       67,491       (4,659 )     (14,917 )     234,217       27,881       291,130       160,310       52,090  
Net change in unrealized appreciation
                                                                                
   (depreciation) on investments
     452,107       3,596,437       (737,805 )     (364,085 )     (213,694 )     (145,718 )     (288,883 )     (2,045,481 )     1,077,960       476,459  
Net realized and unrealized gain (loss)
     555,093       5,468,453       (48,464 )     (320,998 )     (224,158 )     88,499       (261,002 )     855,043       1,238,270       528,549  
                                                                                 
Net increase (decrease) in net assets from operations
   $ 411,710     $ 4,949,829     $ (144,582 )   $ (348,182 )   $ (254,949 )   $ (344,967 )   $ (86,521 )   $ 593,141     $ 1,102,417     $ 415,047  
 
See notes to the financial statements.
 
21
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
Curian/Epoch Global Shareholder Yield Fund
    
Curian/FAMCO Flex Core Covered Call Fund
    
Curian/Franklin Templeton Frontier Markets Fund
    
Curian/Franklin Templeton Natural Resources Fund
    
Curian/Lazard International Strategic Equity Fund
    
Curian/Neuberger Berman Currency Fund
    
Curian/Neuberger Berman Risk Balanced Commodity Strategy Fund(a)
    
Curian/Nicholas Convertible Arbitrage Fund
    
Curian/PIMCO Credit Income Fund
    
Curian/PineBridge Merger Arbitrage Fund
  
Investment income
                                                            
   Dividends
   $ 176     $ 25,308     $ 638,887     $ —     $ —     $ —     $ —     $ 523,639     $ 13,015     $ —  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     224,939       868,672       151,347       277,563       100,821       136,699       12,842       632,364       257,530       707,764  
Total expenses
     224,939       868,672       151,347       277,563       100,821       136,699       12,842       632,364       257,530       707,764  
Net investment income (loss)
     (224,763 )     (843,364 )     487,540       (277,563 )     (100,821 )     (136,699 )     (12,842 )     (108,725 )     (244,515 )     (707,764 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment 
   companies
     470,276       —       1,188,712       5,414,728       6,205       —       —       1,146,457       —       —  
   Investments
     25,472       980,101       195,537       139,780       36,130       12,964       (70,251 )     66,762       110,251       (153,863 )
Net change in unrealized appreciation
                                                                                
   (depreciation) on investments
     489,526       6,284,390       (5,146,496 )     (12,892,044 )     (312,742 )     400,040       (543,308 )     (2,966,806 )     1,502,020       (255,976 )
Net realized and unrealized gain (loss)
     985,274       7,264,491       (3,762,247 )     (7,337,536 )     (270,407 )     413,004       (613,559 )     (1,753,587 )     1,612,271       (409,839 )
                                                                                 
Net increase (decrease) in net assets
                                                                                
   from operations
   $ 760,511     $ 6,421,127     $ (3,274,707 )   $ (7,615,099 )   $ (371,228 )   $ 276,305     $ (626,401 )   $ (1,862,312 )   $ 1,367,756     $ (1,117,603 )
                                                                                 
(a)Commencement of operations April 28, 2014.                                                                                
 
See notes to the financial statements.
 
22
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
  
 
   
Curian/Schroder Emerging Europe Fund
    
Curian/T. Rowe Price Capital Appreciation Fund
    
Curian/The Boston Company Equity Income Fund
    
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund(a)
    
Curian/UBS Global Long Short Fixed Income Opportunities Fund
    
Curian/Van Eck International Gold Fund
    
JNL Disciplined Growth Fund
    
JNL Disciplined Moderate Fund
    
JNL Disciplined Moderate Growth Fund
    
JNL Institutional Alt 20 Fund
  
Investment income
                                                            
   Dividends
   $ 81,199     $ 464,908     $ 30,523     $ —     $ —     $ 72,402     $ 9,752,615     $ 24,945,247     $ 25,589,257     $ 29,170,749  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     27,493       414,993       393,559       60,568       136,859       244,591       8,747,977       16,358,212       19,669,566       24,514,557  
Total expenses
     27,493       414,993       393,559       60,568       136,859       244,591       8,747,977       16,358,212       19,669,566       24,514,557  
Net investment income (loss)
     53,706       49,915       (363,036 )     (60,568 )     (136,859 )     (172,189 )     1,004,638       8,587,035       5,919,691       4,656,192  
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     —       2,080,714       1,517,105       —       —       —       20,609,846       50,418,531       60,170,621       18,099,324  
   Investments
     (180,098 )     305,940       512,459       (367,190 )     (74,340 )     (1,400,459 )     14,728,559       21,585,621       29,817,962       33,405,153  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (727,729 )     1,893,127       1,950,768       (33,342 )     (544,540 )     (3,825,012 )     (15,657,034 )     (38,925,580 )     (47,813,859 )     (43,403,284 )
Net realized and unrealized gain (loss)
     (907,827 )     4,279,781       3,980,332       (400,532 )     (618,880 )     (5,225,471 )     19,681,371       33,078,572       42,174,724       8,101,193  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ (854,121 )   $ 4,329,696     $ 3,617,296     $ (461,100 )   $ (755,739 )   $ (5,397,660 )   $ 20,686,009     $ 41,665,607     $ 48,094,415     $ 12,757,385  
                                                                                 
(a)The period is from January 1, 2014 through the date the Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund was acquired by Curian/Nicholas Convertible Arbitrage Fund on April 28, 2014.
  
 
See notes to the financial statements.
 
23
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
JNL Institutional Alt 35 Fund
    
JNL Institutional Alt 50 Fund
    
JNL Institutional Alt 65 Fund
    
JNL/ AllianceBernstein Dynamic Asset Allocation Fund(a)
    
JNL/American Funds Balanced Allocation Fund
    
JNL/American Funds Blue Chip Income and Growth Fund
    
JNL/American Funds Global Bond Fund
    
JNL/American Funds Global Small Capitalization Fund
    
JNL/American Funds Growth Allocation Fund
    
JNL/American Funds Growth-Income Fund
  
Investment income
                                                            
   Dividends
   $ 37,326,151     $ 48,399,369     $ 10,047,853     $ 82,411     $ 6,104,833     $ 15,916,642     $ 44,547     $ 804,584     $ 3,988,113     $ 13,185,134  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     33,801,328       48,033,041       10,252,234       61,270       8,725,370       20,329,178       7,341,834       5,244,451       7,507,882       27,671,003  
Total expenses
     33,801,328       48,033,041       10,252,234       61,270       8,725,370       20,329,178       7,341,834       5,244,451       7,507,882       27,671,003  
Net investment income (loss)
     3,524,823       366,328       (204,381 )     21,141       (2,620,537 )     (4,412,536 )     (7,297,287 )     (4,439,867 )     (3,519,769 )     (14,485,869 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     25,737,292       36,992,715       19,616,501       108,233       1,005,179       2,823,245       3,662,858       2,430,828       1,905,788       15,913,922  
   Investments
     45,983,433       56,985,047       11,058,182       (44,213 )     8,480,480       46,499,437       (826,578 )     14,405,812       7,868,630       64,340,226  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (65,352,079 )     (83,789,059 )     (28,104,699 )     (92,567 )     7,629,027       131,264,727       951,192       (13,848,057 )     4,770,307       95,926,694  
Net realized and unrealized gain (loss)
     6,368,646       10,188,703       2,569,984       (28,547 )     17,114,686       180,587,409       3,787,472       2,988,583       14,544,725       176,180,842  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ 9,893,469     $ 10,555,031     $ 2,365,603     $ (7,406 )   $ 14,494,149     $ 176,174,873     $ (3,509,815 )   $ (1,451,284 )   $ 11,024,956     $ 161,694,973  
                                                                                 
(a) Commencement of operations April 28, 2014.
                                                  
 
See notes to the financial statements.
 
24
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
JNL/American Funds International Fund
    
JNL/American Funds New World Fund
    
JNL/AQR Managed Futures Strategy Fund
    
JNL/BlackRock Commodity Securities Strategy Fund
    
JNL/BlackRock Global Allocation Fund
    
JNL/BlackRock Large Cap Select Growth Fund
    
JNL/Boston Partners Global Long Short Equity Fund(a)
    
JNL/Brookfield Global Infrastructure and MLP Fund
    
JNL/Capital Guardian Global Balanced Fund
    
JNL/Capital Guardian Global Diversified Research Fund
  
Investment income
                                                            
   Dividends
   $ 4,726,304     $ 5,849,047     $ 2,283,116     $ —     $ 22,575,410     $ —     $ —     $ 4,562,427     $ 4,117,303     $ 3,128,064  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     8,816,145       10,193,110       875,328       14,740,005       43,460,554       9,212,767       5,635       8,843,835       6,833,496       6,058,031  
Total expenses
     8,816,145       10,193,110       875,328       14,740,005       43,460,554       9,212,767       5,635       8,843,835       6,833,496       6,058,031  
Net investment income (loss)
     (4,089,841 )     (4,344,063 )     1,407,788       (14,740,005 )     (20,885,144 )     (9,212,767 )     (5,635 )     (4,281,408 )     (2,716,193 )     (2,929,967 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     2,940,630       4,739,191       5,751,382       —       69,056,684       47,151,756       —       24,033,889       —       —  
   Investments
     11,365,970       8,835,266       (251,427 )     18,908,989       45,951,373       31,150,903       296       14,069,628       12,605,273       17,024,856  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (40,374,560 )     (82,338,265 )     989,358       (161,723,676 )     (84,149,029 )     (23,727,052 )     36,118       (27,474,360 )     (14,144,073 )     (10,816,433 )
Net realized and unrealized gain (loss)
     (26,067,960 )     (68,763,808 )     6,489,313       (142,814,687 )     30,859,028       54,575,607       36,414       10,629,157       (1,538,800 )     6,208,423  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ (30,157,801 )   $ (73,107,871 )   $ 7,897,101     $ (157,554,692 )   $ 9,973,884     $ 45,362,840     $ 30,779     $ 6,347,749     $ (4,254,993 )   $ 3,278,456  
                                                                                 
(a) Commencement of operations September 15, 2014.
                            
 
See notes to the financial statements.
 
25
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
JNL/DFA U.S. Core Equity Fund
    
JNL/Eagle SmallCap Equity Fund
    
JNL/Eastspring Investments Asia ex-Japan Fund
    
JNL/Eastspring Investments China-India Fund
    
JNL/Franklin Templeton Founding Strategy Fund
    
JNL/Franklin Templeton Global Growth Fund
    
JNL/Franklin Templeton Global Multisector Bond Fund
    
JNL/Franklin Templeton Income Fund
    
JNL/Franklin Templeton International Small Cap Growth Fund
    
JNL/Franklin Templeton Mutual Shares Fund
  
Investment income
                                                            
   Dividends
   $ 2,788,153     $ —     $ 1,274,261     $ 2,848,706     $ 25,518,193     $ 4,158,618     $ 26,092,906     $ 62,269,201     $ 3,590,072     $ 4,648,862  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     6,592,566       16,311,567       1,921,196       4,924,940       23,588,948       7,613,735       9,925,014       27,594,808       6,404,868       8,960,091  
Total expenses
     6,592,566       16,311,567       1,921,196       4,924,940       23,588,948       7,613,735       9,925,014       27,594,808       6,404,868       8,960,091  
Net investment income (loss)
     (3,804,413 )     (16,311,567 )     (646,935 )     (2,076,234 )     1,929,245       (3,455,117 )     16,167,892       34,674,393       (2,814,796 )     (4,311,229 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment 
   companies
     6,108,024       95,363,490       —       —       —       3,509,718       537,332       —       20,507,192       12,168,006  
   Investments
     16,966,027       52,716,959       (851,873 )     2,674,617       68,810,517       19,134,583       3,684,049       39,940,656       17,586,680       29,823,186  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     18,797,134       (121,506,536 )     5,843,432       29,080,312       (55,392,441 )     (43,184,640 )     (35,514,257 )     (58,727,228 )     (86,372,881 )     (4,660,487 )
Net realized and unrealized gain (loss)
     41,871,185       26,573,913       4,991,559       31,754,929       13,418,076       (20,540,339 )     (31,292,876 )     (18,786,572 )     (48,279,009 )     37,330,705  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ 38,066,772     $ 10,262,346     $ 4,344,624     $ 29,678,695     $ 15,347,321     $ (23,995,456 )   $ (15,124,984 )   $ 15,887,821     $ (51,093,805 )   $ 33,019,476  
 
See notes to the financial statements.
 
26
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
JNL/Franklin Templeton Small Cap Value Fund
    
JNL/Goldman Sachs Core Plus Bond Fund
    
JNL/Goldman Sachs Emerging Markets Debt Fund
    
JNL/Goldman Sachs Mid Cap Value Fund
    
JNL/Goldman Sachs U.S. Equity Flex Fund
    
JNL/Invesco Global Real Estate Fund
    
JNL/Invesco International Growth Fund
    
JNL/Invesco Large Cap Growth Fund
    
JNL/Invesco Mid Cap Value Fund
    
JNL/Invesco Small Cap Growth Fund
  
Investment income
                                                            
   Dividends
   $ 2,167,993     $ 15,535,708     $ 3,755,870     $ 5,143,042     $ 135,533     $ 14,337,030     $ 6,363,347     $ 289,355     $ 625,350     $ —  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     8,443,061       9,909,977       3,213,514       9,674,932       3,322,028       16,110,074       8,350,927       7,891,531       4,196,220       7,676,567  
Total expenses
     8,443,061       9,909,977       3,213,514       9,674,932       3,322,028       16,110,074       8,350,927       7,891,531       4,196,220       7,676,567  
Net investment income (loss)
     (6,275,068 )     5,625,731       542,356       (4,531,890 )     (3,186,495 )     (1,773,044 )     (1,987,580 )     (7,602,176 )     (3,570,870 )     (7,676,567 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     49,820,296       —       4,484,570       99,816,392       23,353,740       37,155,655       —       99,152,765       6,277,383       21,400,527  
   Investments
     35,135,225       (8,526,030 )     (7,317,504 )     19,283,903       16,587,754       23,856,057       18,191,355       33,988,981       17,671,314       35,701,700  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (88,197,332 )     26,799,217       (11,099,362 )     (43,567,138 )     (11,448,124 )     71,001,564       (25,209,169 )     (91,806,712 )     13,348       (17,383,678 )
Net realized and unrealized gain (loss)
     (3,241,811 )     18,273,187       (13,932,296 )     75,533,157       28,493,370       132,013,276       (7,017,814 )     41,335,034       23,962,045       39,718,549  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ (9,516,879 )   $ 23,898,918     $ (13,389,940 )   $ 71,001,267     $ 25,306,875     $ 130,240,232     $ (9,005,394 )   $ 33,732,858     $ 20,391,175     $ 32,041,982  
 
See notes to the financial statements.
 
27
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
JNL/Ivy Asset Strategy Fund
    
JNL/JPMorgan International Value Fund
    
JNL/JPMorgan MidCap Growth Fund
    
JNL/JPMorgan U.S. Government & Quality Bond Fund
    
JNL/Lazard Emerging Markets Fund
    
JNL/M&G Global Basics Fund(a)
    
JNL/MC 10 x 10 Fund
    
JNL/MC 25 Fund
    
JNL/MC Bond Index Fund
    
JNL/MC Communications Sector Fund
  
Investment income
                                                            
   Dividends
   $ 32,416,969     $ 8,848,445     $ —     $ 18,786,771     $ 9,073,278     $ —     $ 6,721,433     $ 19,322,362     $ 19,682,993     $ 3,422,089  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     44,033,888       6,871,042       9,326,129       8,639,579       8,099,014       303,152       5,454,676       13,899,622       8,580,641       1,958,233  
Total expenses
     44,033,888       6,871,042       9,326,129       8,639,579       8,099,014       303,152       5,454,676       13,899,622       8,580,641       1,958,233  
Net investment income (loss)
     (11,616,919 )     1,977,403       (9,326,129 )     10,147,192       974,264       (303,152 )     1,266,757       5,422,740       11,102,352       1,463,856  
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     145,020,431       —       54,950,237       —       12,132,309       —       12,965,686       88,911,079       6,160,941       —  
   Investments
     95,447,612       4,796,909       46,738,190       (5,127,926 )     4,201,952       (1,643,788 )     16,150,634       63,367,878       1,125,862       6,115,372  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (398,855,000 )     (62,715,657 )     (37,215,702 )     15,527,220       (52,106,042 )     1,639,445       (5,594,385 )     (152,620,471 )     3,668,680       (2,770,227 )
Net realized and unrealized gain (loss)
     (158,386,957 )     (57,918,748 )     64,472,725       10,399,294       (35,771,781 )     (4,343 )     23,521,935       (341,514 )     10,955,483       3,345,145  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ (170,003,876 )   $ (55,941,345 )   $ 55,146,596     $ 20,546,486     $ (34,797,517 )   $ (307,495 )   $ 24,788,692     $ 5,081,226     $ 22,057,835     $ 4,809,001  
                                                                                 
(a) The period is from January 1, 2014 through the date the JNL/M&G Global Basics Fund was acquired by JNL/Oppenheimer Global Growth Fund on April 28, 2014.
 
See notes to the financial statements.
 
28
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
JNL/MC Consumer Brands Sector Fund
    
JNL/MC Dow 10 Fund
    
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund
    
JNL/MC Emerging Markets Index Fund
    
JNL/MC European 30 Fund
    
JNL/MC Financial Sector Fund
    
JNL/MC Global 15 Fund
    
JNL/MC Global Alpha Fund
    
JNL/MC Healthcare Sector Fund
    
JNL/MC Index 5 Fund
  
Investment income
                                                            
   Dividends
   $ 2,619,172     $ —     $ 371,250     $ 5,318,709     $ 2,889,559     $ 4,172,846     $ —     $ 4,325,576     $ 7,948,769     $ 9,339,663  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     7,038,036       8,702,612       1,214,974       6,719,703       3,547,649       7,079,570       5,811,529       565,702       20,503,794       9,854,514  
Total expenses
     7,038,036       8,702,612       1,214,974       6,719,703       3,547,649       7,079,570       5,811,529       565,702       20,503,794       9,854,514  
Net investment income (loss)
     (4,418,864 )     (8,702,612 )     (843,724 )     (1,400,994 )     (658,090 )     (2,906,724 )     (5,811,529 )     3,759,874       (12,555,025 )     (514,851 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     22,785,903       —       16,928,431       —       —       12,033,948       —       —       16,994,512       27,102,087  
   Investments
     33,482,588       59,121,480       3,428,173       (22,771 )     2,608,171       30,218,871       29,356,816       (1,039,971 )     79,782,858       25,726,030  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (11,551,414 )     (6,893,424 )     (15,548,488 )     (27,664,826 )     (24,173,624 )     12,588,291       8,880,731       (4,025,304 )     202,479,356       (27,886,820 )
Net realized and unrealized gain (loss)
     44,717,077       52,228,056       4,808,116       (27,687,597 )     (21,565,453 )     54,841,110       38,237,547       (5,065,275 )     299,256,726       24,941,297  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ 40,298,213     $ 43,525,444     $ 3,964,392     $ (29,088,591 )   $ (22,223,543 )   $ 51,934,386     $ 32,426,018     $ (1,305,401 )   $ 286,701,701     $ 24,426,446  
 
See notes to the financial statements.
 
29
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
JNL/MC International Index Fund
    
JNL/MC JNL 5 Fund
    
JNL/MC JNL Optimized 5 Fund
    
JNL/MC Nasdaq 25 Fund
    
JNL/MC NYSE International 25 Fund(a)
    
JNL/MC Oil & Gas Sector Fund
    
JNL/MC Pacific Rim 30 Fund
    
JNL/MC S&P 24 Fund
    
JNL/MC S&P 400 MidCap Index Fund
    
JNL/MC S&P 500 Index Fund
  
Investment income
                                                            
   Dividends
   $ 27,744,856     $ 60,762,370     $ 8,035,943     $ 1,159,239     $ 1,371,421     $ 14,314,039     $ 2,688,910     $ 2,568,673     $ 11,029,380     $ 36,229,792  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     11,696,601       45,139,571       6,182,936       7,761,498       844,168       18,047,467       1,532,367       5,411,159       17,293,868       39,957,977  
Total expenses
     11,696,601       45,139,571       6,182,936       7,761,498       844,168       18,047,467       1,532,367       5,411,159       17,293,868       39,957,977  
Net investment income (loss)
     16,048,255       15,622,799       1,853,007       (6,602,259 )     527,253       (3,733,428 )     1,156,543       (2,842,486 )     (6,264,488 )     (3,728,185 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     —       —       —       38,340,534       —       19,585,271       2,586,127       35,777,790       69,621,744       3,625,300  
   Investments
     18,217,087       148,920,653       22,606,219       39,641,950       9,566,467       49,548,050       2,411,692       16,371,473       66,744,761       127,463,943  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (103,241,736 )     106,934,442       (3,822,502 )     10,694,500       (3,692,818 )     (221,994,461 )     (5,720,619 )     (38,562,400 )     (43,332,606 )     174,935,490  
Net realized and unrealized gain (loss)
     (85,024,649 )     255,855,095       18,783,717       88,676,984       5,873,649       (152,861,140 )     (722,800 )     13,586,863       93,033,899       306,024,733  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ (68,976,394 )   $ 271,477,894     $ 20,636,724     $ 82,074,725     $ 6,400,902     $ (156,594,568 )   $ 433,743     $ 10,744,377     $ 86,769,411     $ 302,296,548  
                                                                                 
(a) The period is from January 1, 2014 through the date the JNL/MC NYSE International 25 Fund was acquired by JNL/MC International Index Fund on September 15, 2014.
 
See notes to the financial statements.
 
30
 
Jackson National Separate Account I
Statements of Operations
    
For the Year Ended December 31, 2014
 
   
JNL/MC S&P SMid 60 Fund
    
JNL/MC Small Cap Index Fund
    
JNL/MC Technology Sector Fund
    
JNL/MC Utilities Sector Fund
    
JNL/MC Value Line 30 Fund
    
JNL/MMRS Conservative Fund(a)
    
JNL/MMRS Growth Fund(a)
    
JNL/MMRS Moderate Fund(a)
    
JNL/Morgan Stanley Mid Cap Growth Fund
    
JNL/Neuberger Berman Strategic Income Fund
  
Investment income
                                                            
   Dividends
   $ 2,302,217     $ 11,606,299     $ 4,694,124     $ 773     $ 1,051,759     $ —     $ —     $ —     $ —     $ 2,388,773  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     5,464,165       17,057,841       10,166,814       208,332       6,922,589       70,683       40,585       119,135       1,200,379       3,401,274  
Total expenses
     5,464,165       17,057,841       10,166,814       208,332       6,922,589       70,683       40,585       119,135       1,200,379       3,401,274  
Net investment income (loss)
     (3,161,948 )     (5,451,542 )     (5,472,690 )     (207,559 )     (5,870,830 )     (70,683 )     (40,585 )     (119,135 )     (1,200,379 )     (1,012,501 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     40,397,139       —       13,566,771       —       —       —       —       —       819,348       1,179,745  
   Investments
     19,905,300       55,823,382       36,581,814       290,936       29,828,458       525       13,589       44,838       445,934       1,930,249  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (51,346,227 )     (16,627,934 )     73,132,283       4,092,575       (3,293,964 )     308,857       114,602       407,884       (6,589,221 )     3,211,670  
Net realized and unrealized gain (loss)
     8,956,212       39,195,448       123,280,868       4,383,511       26,534,494       309,382       128,191       452,722       (5,323,939 )     6,321,664  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ 5,794,264     $ 33,743,906     $ 117,808,178     $ 4,175,952     $ 20,663,664     $ 238,699     $ 87,606     $ 333,587     $ (6,524,318 )   $ 5,309,163  
                                                                                 
(a) Commencement of operations April 28, 2014.
  
 
See notes to the financial statements.
 
31
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
    
 
   
JNL/Oppenheimer Global Growth Fund
    
JNL/PIMCO Real Return Fund
    
JNL/PIMCO Total Return Bond Fund
    
JNL/PPM America Floating Rate Income Fund
    
JNL/PPM America High Yield Bond Fund
    
JNL/PPM America Mid Cap Value Fund
    
JNL/PPM America Small Cap Value Fund
    
JNL/PPM America Value Equity Fund
    
JNL/Red Rocks Listed Private Equity Fund
    
JNL/S&P 4 Fund
  
Investment income
                                                            
   Dividends
   $ 3,936,830     $ 9,697,109     $ 109,730,008     $ 28,937,765     $ 94,863,902     $ 1,439,423     $ 484,721     $ 9,141,327     $ 34,987,955     $ 86,792,924  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     10,037,805       20,757,735       49,773,322       18,009,755       25,593,055       4,175,266       2,693,074       2,712,910       6,976,635       53,703,952  
Total expenses
     10,037,805       20,757,735       49,773,322       18,009,755       25,593,055       4,175,266       2,693,074       2,712,910       6,976,635       53,703,952  
Net investment income (loss)
     (6,100,975 )     (11,060,626 )     59,956,686       10,928,010       69,270,847       (2,735,843 )     (2,208,353 )     6,428,417       28,011,320       33,088,972  
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     12,817,305       —       11,998,985       2,177,853       24,607,284       15,679,862       29,138,821       —       19,826,728       80,914,780  
   Investments
     30,096,651       (68,828,438 )     3,861,973       5,577,151       20,110,948       26,779,791       12,516,354       17,469,331       18,087,428       148,964,329  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (33,486,979 )     103,782,551       5,169,863       (35,233,250 )     (138,989,078 )     (15,487,375 )     (32,438,273 )     (6,650,453 )     (70,955,953 )     212,493,193  
Net realized and unrealized gain (loss)
     9,426,977       34,954,113       21,030,821       (27,478,246 )     (94,270,846 )     26,972,278       9,216,902       10,818,878       (33,041,797 )     442,372,302  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ 3,326,002     $ 23,893,487     $ 80,987,507     $ (16,550,236 )   $ (24,999,999 )   $ 24,236,435     $ 7,008,549     $ 17,247,295     $ (5,030,477 )   $ 475,461,274  
 
See notes to the financial statements.
 
32
 
Jackson National Separate Account I
Statements of Operations
        
For the Year Ended December 31, 2014
 
   
JNL/S&P Competitive Advantage Fund
    
JNL/S&P Dividend Income & Growth Fund
    
JNL/S&P International 5 Fund(b)
    
JNL/S&P Intrinsic Value Fund
    
JNL/S&P Managed Aggressive Growth Fund
    
JNL/S&P Managed Conservative Fund
    
JNL/S&P Managed Growth Fund
    
JNL/S&P Managed Moderate Fund
    
JNL/S&P Managed Moderate Growth Fund
    
JNL/S&P Mid 3 Fund(a)
  
Investment income
                                                            
   Dividends
   $ 2,006,202     $ 27,393,548     $ —     $ 6,592,370     $ 7,135,047     $ 4,522,808     $ 23,231,545     $ 6,324,898     $ 13,693,925     $ —  
                                                                                 
Expenses
                                                                                
   Asset-based charges (Note 3)
     10,091,634       30,217,638       3,544       11,335,576       22,380,270       23,720,301       64,881,560       46,856,872       86,245,541       276,517  
Total expenses
     10,091,634       30,217,638       3,544       11,335,576       22,380,270       23,720,301       64,881,560       46,856,872       86,245,541       276,517  
Net investment income (loss)
     (8,085,432 )     (2,824,090 )     (3,544 )     (4,743,206 )     (15,245,223 )     (19,197,493 )     (41,650,015 )     (40,531,974 )     (72,551,616 )     (276,517 )
                                                                                 
Realized and unrealized gain (loss)
                                                                                
Net realized gain (loss) on:
                                                                                
   Distributions from investment companies
     65,293,372       100,125,093       —       94,182,374       40,857,923       16,976,111       98,413,319       42,430,111       97,256,175       —  
   Investments
     29,464,609       65,340,560       633       39,502,962       65,335,677       26,618,091       134,290,804       71,885,221       148,320,038       220,460  
Net change in unrealized appreciation
                                                                          
   (depreciation) on investments
     (28,273,880 )     65,354,713       (14,130 )     (11,640,327 )     (14,230,212 )     203,885       (14,488,176 )     1,698,051       (2,654,783 )     3,839,035  
Net realized and unrealized gain (loss)
     66,484,101       230,820,366       (13,497 )     122,045,009       91,963,388       43,798,087       218,215,947       116,013,383       242,921,430       4,059,495  
                                                                                 
Net increase (decrease) in net assets
                                                                          
   from operations
   $ 58,398,669     $ 227,996,276     $ (17,041 )   $ 117,301,803     $ 76,718,165     $ 24,600,594     $ 176,565,932     $ 75,481,409     $ 170,369,814     $ 3,782,978  
                                                                                 
(a) Commencement of operations April 28, 2014.
                                                  
(b) Commencement of operations September 15, 2014.
                                                  
 
See notes to the financial statements.
 
33
 
Jackson National Separate Account I
Statements of Operations
For the Year Ended December 31, 2014
 
   
JNL/S&P Total Yield Fund
    
JNL/Scout Unconstrained Bond Fund(a)
    
JNL/T. Rowe Price Established Growth Fund
    
JNL/T. Rowe Price Mid-Cap Growth Fund
    
JNL/T. Rowe Price Short-Term Bond Fund
    
JNL/T. Rowe Price Value Fund
    
JNL/WMC Balanced Fund
    
JNL/WMC Money Market Fund
    
JNL/WMC Value Fund
  
Investment income
                                                      
   Dividends
   $ 4,396,813     $ —     $ —     $ 3,411,721     $ 9,260,286     $ 9,514,405     $ 46,285,200     $ 5,938     $ 9,516,161  
                                                                         
Expenses
                                                                        
   Asset-based charges (Note 3)
     6,748,743       53,223       31,089,039       34,505,316       11,496,036       17,009,022       50,895,755       19,654,195       9,575,253  
Total expenses
     6,748,743       53,223       31,089,039       34,505,316       11,496,036       17,009,022       50,895,755       19,654,195       9,575,253  
Net investment income (loss)
     (2,351,930 )     (53,223 )     (31,089,039 )     (31,093,595 )     (2,235,750 )     (7,494,617 )     (4,610,555 )     (19,648,257 )     (59,092 )
                                                                         
Realized and unrealized gain (loss)
                                                                        
Net realized gain (loss) on:
                                                                        
   Distributions from investment companies
     71,373,060       —       195,414,271       206,045,458       —       63,967,765       118,517,687       14,251       26,588,522  
   Investments
     23,430,999       (32,941 )     128,858,247       92,625,668       (868,425 )     61,764,881       92,523,305       —       33,369,915  
Net change in unrealized appreciation
                                                                  
   (depreciation) on investments
     (36,096,055 )     (280,278 )     (145,447,510 )     (15,927,643 )     (5,601,919 )     8,652,174       80,712,598       —       261,941  
Net realized and unrealized gain (loss)
     58,708,004       (313,219 )     178,825,008       282,743,483       (6,470,344 )     134,384,820       291,753,590       14,251       60,220,378  
                                                                         
Net increase (decrease) in net assets
                                                                  
   from operations
   $ 56,356,074     $ (366,442 )   $ 147,735,969     $ 251,649,888     $ (8,706,094 )   $ 126,890,203     $ 287,143,035     $ (19,634,006 )   $ 60,161,286  
                                                                         
(a) Commencement of operations April 28, 2014.
                                      
 
See notes to the financial statements.
 
34
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
CG - Alt 100 Conservative Fund
    
CG - Alt 100 Growth Fund
    
CG - Alt 100 Moderate Fund
    
CG - Conservative Fund
    
CG - Equity 100 Fund
    
CG - Equity Income Fund
    
CG - Fixed Income 100 Fund
    
CG - Growth Fund
    
CG - Institutional Alt 65 Fund
    
CG - Interest Rate Opportunities Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (135,873 )   $ (148,001 )   $ 121,192     $ (189,986 )   $ (292,570 )   $ 1,490,563     $ 141,294     $ (565,355 )   $ (263,347 )   $ 237,966  
   Net realized gain (loss) on investments
     142,524       209,188       6,517,396       901,431       4,357,942       1,803,633       105,302       1,083,633       3,005,827       304,156  
   Net change in unrealized appreciation (depreciation) on investments
     59,144       (979,662 )     (4,139,034 )     499,315       (1,385,167 )     262,061       (231,400 )     1,668,014       (1,218,150 )     (889,360 )
Net increase (decrease) in net assets from operations
     65,795       (918,475 )     2,499,554       1,210,760       2,680,205       3,556,257       15,196       2,186,292       1,524,330       (347,238 )
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     18,458,822       58,151,007       90,262,414       52,478,514       30,814,530       15,583,548       19,467,424       111,875,238       27,125,728       20,956,828  
   Surrenders and terminations
     (1,153,691 )     (1,801,063 )     (11,220,851 )     (5,509,675 )     (3,121,159 )     (3,098,758 )     (3,319,356 )     (2,589,065 )     (5,272,974 )     (1,861,534 )
   Transfers between Investment Divisions
     (798,440 )     11,740,158       (26,491,719 )     (5,767,074 )     (768,116 )     2,855,588       6,185,921       814,870       (6,341,736 )     326,039  
   Contract owner charges (Note 3)
     (13,516 )     (43,765 )     (216,323 )     (59,891 )     (45,545 )     (44,404 )     (20,838 )     (48,356 )     (83,713 )     (14,894 )
Net increase (decrease) in net assets from contract transactions
     16,493,175       68,046,337       52,333,521       41,141,874       26,879,710       15,295,974       22,313,151       110,052,687       15,427,305       19,406,439  
                                                                                 
Net increase (decrease) in net assets
     16,558,970       67,127,862       54,833,075       42,352,634       29,559,915       18,852,231       22,328,347       112,238,979       16,951,635       19,059,201  
                                                                                 
Net assets beginning of period
     17,738,505       37,070,387       275,259,838       55,255,419       49,262,282       43,192,367       22,059,048       43,815,918       107,396,269       28,938,249  
                                                                                 
Net assets end of period
   $ 34,297,475     $ 104,198,249     $ 330,092,913     $ 97,608,053     $ 78,822,197     $ 62,044,598     $ 44,387,395     $ 156,054,897     $ 124,347,904     $ 47,997,450  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     1,786,805       3,667,273       26,425,130       5,267,640       3,805,968       3,598,785       2,275,015       4,032,811       9,661,615       2,962,394  
                                                                                 
      Units Issued
     2,385,589       7,121,465       9,227,898       5,853,009       2,890,950       1,743,612       3,006,173       11,075,341       2,848,870       2,899,431  
      Units Redeemed
     (728,426 )     (597,010 )     (4,348,297 )     (2,047,524 )     (828,863 )     (533,476 )     (753,875 )     (1,175,990 )     (1,491,044 )     (947,525 )
                                                                                 
Units Outstanding at December 31, 2014
     3,443,968       10,191,728       31,304,731       9,073,125       5,868,055       4,808,921       4,527,313       13,932,162       11,019,441       4,914,300  
 
See notes to the financial statements.
 
35
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
CG - International Conservative Fund
    
CG - International Growth Fund
    
CG - International Moderate Fund
    
CG - Maximum Growth Fund
    
CG - Moderate Fund
    
CG - Moderate Growth Fund
    
CG - Multi-Strategy Income Fund
    
CG - Real Assets Fund
    
CG - Tactical Maximum Growth Fund
    
CG - Tactical Moderate Growth Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (1,121 )   $ (20,277 )   $ 4,342     $ (337,832 )   $ (756,097 )   $ (1,251,024 )   $ 172,480     $ 6,458     $ (382,731 )   $ (450,873 )
   Net realized gain (loss) on investments
     12,859       72,375       83,813       4,715,045       8,813,937       10,658,084       227,721       7,749       4,463,350       14,676,145  
   Net change in unrealized appreciation (depreciation) on investments
     (210,315 )     (423,192 )     (559,612 )     (1,674,601 )     (3,011,335 )     (354,980 )     (407,987 )     (762,068 )     (1,930,116 )     (5,731,616 )
Net increase (decrease) in net assets from operations
     (198,577 )     (371,094 )     (471,457 )     2,702,612       5,046,505       9,052,080       (7,786 )     (747,861 )     2,150,503       8,493,656  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     3,258,949       4,097,455       6,434,655       47,788,908       170,983,799       210,284,455       16,679,898       6,141,171       30,844,266       69,385,409  
   Surrenders and terminations
     (173,086 )     (181,361 )     (319,238 )     (2,822,886 )     (15,255,870 )     (13,697,675 )     (1,685,273 )     (309,955 )     (1,942,433 )     (11,390,176 )
   Transfers between Investment Divisions
     (70,623 )     (334,513 )     (185,336 )     587,003       1,559,738       18,438,299       2,464,282       840,689       (4,986,138 )     (6,988,130 )
   Contract owner charges (Note 3)
     (1,910 )     (6,088 )     (5,000 )     (75,033 )     (118,375 )     (255,186 )     (11,006 )     (2,571 )     (57,845 )     (195,288 )
Net increase (decrease) in net assets from contract transactions
     3,013,330       3,575,493       5,925,081       45,477,992       157,169,292       214,769,893       17,447,901       6,669,334       23,857,850       50,811,815  
                                                                                 
Net increase (decrease) in net assets
     2,814,753       3,204,399       5,453,624       48,180,604       162,215,797       223,821,973       17,440,115       5,921,473       26,008,353       59,305,471  
                                                                                 
Net assets beginning of period
     1,844,020       4,523,603       4,824,711       65,550,919       172,058,654       252,988,721       20,207,299       4,998,604       66,139,049       228,187,759  
                                                                                 
Net assets end of period
   $ 4,658,773     $ 7,728,002     $ 10,278,335     $ 113,731,523     $ 334,274,451     $ 476,810,694     $ 37,647,414     $ 10,920,077     $ 92,147,402     $ 287,493,230  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     189,390       447,087       485,431       5,422,389       14,869,737       21,931,887       2,091,877       508,538       5,698,163       19,989,081  
                                                                                 
      Units Issued
     361,686       540,081       834,197       4,558,371       16,285,102       20,850,285       2,283,619       995,148       3,012,741       6,979,085  
      Units Redeemed
     (57,395 )     (189,520 )     (239,942 )     (866,425 )     (3,007,209 )     (2,660,027 )     (510,696 )     (362,179 )     (982,107 )     (2,602,612 )
                                                                                 
Units Outstanding at December 31, 2014
     493,681       797,648       1,079,686       9,114,335       28,147,630       40,122,145       3,864,800       1,141,507       7,728,797       24,365,554  
 
See notes to the financial statements.
 
36
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
Curian Dynamic Risk Advantage - Diversified Fund
    
Curian Dynamic Risk Advantage - Growth Fund
    
Curian Dynamic Risk Advantage - Income Fund
    
Curian Focused International Equity Fund
    
Curian Focused U.S. Equity Fund
    
Curian Long Short Credit Fund
    
Curian Tactical Advantage 35 Fund
    
Curian Tactical Advantage 60 Fund
    
Curian Tactical Advantage 75 Fund
    
Curian/Aberdeen Latin America Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (2,512,953 )   $ (594,313 )   $ 1,454,156     $ (18,645 )   $ (37,844 )   $ 109,528     $ (85,239 )   $ (336,803 )   $ (317,950 )   $ 2,004  
   Net realized gain (loss) on investments
     1,795,343       (497,359 )     3,073,298       3,019       (16,055 )     220,134       1,527,215       4,695,306       5,464,748       (138,780 )
   Net change in unrealized appreciation (depreciation) on investments
     9,853,467       (2,004,531 )     5,783,050       (46,970 )     63,147       (754,555 )     (296,842 )     (881,337 )     (2,049,979 )     (270,573 )
Net increase (decrease) in net assets from operations
     9,135,857       (3,096,203 )     10,310,504       (62,596 )     9,248       (424,893 )     1,145,134       3,477,166       3,096,819       (407,349 )
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     58,114,563       22,156,448       38,163,738       2,396,018       4,025,071       7,345,782       15,235,071       35,185,757       35,972,741       1,131,758  
   Surrenders and terminations
     (15,420,552 )     (2,937,055 )     (11,881,178 )     (34,058 )     (48,099 )     (1,044,149 )     (2,423,249 )     (6,335,173 )     (5,033,458 )     (65,252 )
   Transfers between Investment Divisions
     (46,148,520 )     (13,997,817 )     (11,720,614 )     477,790       1,772,408       1,241,989       (848,835 )     (2,860,049 )     (6,295,854 )     (246,048 )
   Contract owner charges (Note 3)
     (215,613 )     (58,573 )     (129,035 )     (469 )     (1,139 )     (2,097 )     (20,174 )     (74,336 )     (78,782 )     (936 )
Net increase (decrease) in net assets from contract transactions
     (3,670,122 )     5,163,003       14,432,911       2,839,281       5,748,241       7,541,525       11,942,813       25,916,199       24,564,647       819,522  
                                                                                 
Net increase (decrease) in net assets
     5,465,735       2,066,800       24,743,415       2,776,685       5,757,489       7,116,632       13,087,947       29,393,365       27,661,466       412,173  
                                                                                 
Net assets beginning of period
     238,699,935       55,489,483       149,063,666       424,533       537,789       5,576,247       32,732,046       80,234,581       70,581,418       1,215,921  
                                                                                 
Net assets end of period
   $ 244,165,670     $ 57,556,283     $ 173,807,081     $ 3,201,218     $ 6,295,278     $ 12,692,879     $ 45,819,993     $ 109,627,946     $ 98,242,884     $ 1,628,094  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     23,617,733       5,830,292       14,465,574       40,481       49,184       552,471       3,001,678       6,836,993       5,718,342       146,989  
                                                                                 
      Units Issued
     5,998,529       2,661,671       4,414,911       301,380       629,026       1,035,459       1,715,644       3,386,048       3,345,366       523,170  
      Units Redeemed
     (6,402,419 )     (2,115,040 )     (3,118,614 )     (30,502 )     (116,521 )     (297,761 )     (634,065 )     (1,190,524 )     (1,375,530 )     (434,963 )
                                                                                 
Units Outstanding at December 31, 2014
     23,213,843       6,376,923       15,761,871       311,359       561,689       1,290,169       4,083,257       9,032,517       7,688,178       235,196  
 
See notes to the financial statements.
 
37
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
Curian/American Funds Global Growth Fund
    
Curian/American Funds Growth Fund
    
Curian/AQR Risk Parity Fund
    
Curian/Ashmore Emerging Market Small Cap Equity Fund
    
Curian/Baring International Fixed Income Fund
    
Curian/BlackRock Global Long Short Credit Fund
    
Curian/CenterSquare International Real Estate Securities Fund
    
Curian/DFA U.S. Micro Cap Fund
    
Curian/DoubleLine Total Return Fund
    
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (143,383 )   $ (518,624 )   $ (96,118 )   $ (27,184 )   $ (30,791 )   $ (433,466 )   $ 174,481     $ (261,902 )   $ (135,853 )   $ (113,502 )
   Net realized gain (loss) on investments
     102,986       1,872,016       689,341       43,087       (10,464 )     234,217       27,881       2,900,524       160,310       52,090  
   Net change in unrealized appreciation (depreciation) on investments
     452,107       3,596,437       (737,805 )     (364,085 )     (213,694 )     (145,718 )     (288,883 )     (2,045,481 )     1,077,960       476,459  
Net increase (decrease) in net assets from operations
     411,710       4,949,829       (144,582 )     (348,182 )     (254,949 )     (344,967 )     (86,521 )     593,141       1,102,417       415,047  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     22,954,913       42,391,896       10,588,444       1,832,658       3,413,076       31,529,505       4,176,641       15,816,707       41,504,088       5,261,188  
   Surrenders and terminations
     (522,581 )     (2,193,035 )     (422,495 )     (90,963 )     (83,692 )     (2,515,556 )     (203,110 )     (729,327 )     (1,838,942 )     (422,125 )
   Transfers between Investment Divisions
     3,187,633       7,822,866       7,698,645       435,129       (391,689 )     2,963,461       606,040       1,856,674       22,375,607       1,447,954  
   Contract owner charges (Note 3)
     (2,920 )     (29,810 )     (3,186 )     (1,295 )     (579 )     (7,721 )     (2,104 )     (11,101 )     (21,559 )     (3,344 )
 
                                                                          
Net increase (decrease) in net assets from contract transactions
     25,617,045       47,991,917       17,861,408       2,175,529       2,937,116       31,969,689       4,577,467       16,932,953       62,019,194       6,283,673  
Net increase (decrease) in net assets
     26,028,755       52,941,746       17,716,826       1,827,347       2,682,167       31,624,722       4,490,946       17,526,094       63,121,611       6,698,720  
                                                                                 
Net assets beginning of period
     5,062,821       45,213,753       1,348,020       1,527,108       1,210,323       22,308,296       3,063,702       16,188,484       5,167,164       7,451,445  
                                                                                 
Net assets end of period
   $ 31,091,576     $ 98,155,499     $ 19,064,846     $ 3,354,455     $ 3,892,490     $ 53,933,018     $ 7,554,648     $ 33,714,578     $ 68,288,775     $ 14,150,165  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     461,640       3,335,385       134,410       147,852       126,678       2,224,900       330,504       1,130,300       518,337       788,584  
                                                                                 
      Units Issued
     2,584,492       4,119,541       1,967,260       282,155       521,827       4,207,713       715,539       1,644,233       6,494,658       927,807  
      Units Redeemed
     (239,327 )     (679,696 )     (321,932 )     (67,228 )     (225,763 )     (1,059,471 )     (228,988 )     (443,576 )     (512,612 )     (271,495 )
                                                                                 
Units Outstanding at December 31, 2014
     2,806,805       6,775,230       1,779,738       362,779       422,742       5,373,142       817,055       2,330,957       6,500,383       1,444,896  
 
See notes to the financial statements.
 
38
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
Curian/Epoch Global Shareholder Yield Fund
    
Curian/FAMCO Flex Core Covered Call Fund
    
Curian/Franklin Templeton Frontier Markets Fund
    
Curian/Franklin Templeton Natural Resources Fund
    
Curian/Lazard International Strategic Equity Fund
    
Curian/Neuberger Berman Currency Fund
    
Curian/Neuberger Berman Risk Balanced Commodity Strategy Fund(a)
    
Curian/Nicholas Convertible Arbitrage Fund
    
Curian/PIMCO Credit Income Fund
    
Curian/PineBridge Merger Arbitrage Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (224,763 )   $ (843,364 )   $ 487,540     $ (277,563 )   $ (100,821 )   $ (136,699 )   $ (12,842 )   $ (108,725 )   $ (244,515 )   $ (707,764 )
   Net realized gain (loss) on investments
     495,748       980,101       1,384,249       5,554,508       42,335       12,964       (70,251 )     1,213,219       110,251       (153,863 )
   Net change in unrealized appreciation (depreciation) on investments
     489,526       6,284,390       (5,146,496 )     (12,892,044 )     (312,742 )     400,040       (543,308 )     (2,966,806 )     1,502,020       (255,976 )
Net increase (decrease) in net assets from operations
     760,511       6,421,127       (3,274,707 )     (7,615,099 )     (371,228 )     276,305       (626,401 )     (1,862,312 )     1,367,756       (1,117,603 )
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     10,162,070       38,895,411       10,243,361       14,195,074       8,844,246       3,382,445       2,423,627       19,203,781       12,867,360       20,947,077  
   Surrenders and terminations
     (953,212 )     (3,853,037 )     (373,382 )     (949,844 )     (188,281 )     (601,463 )     (45,062 )     (2,879,747 )     (1,325,016 )     (3,952,746 )
   Transfers between Investment Divisions
     841,313       5,723,646       71,116       1,894,681       2,892,025       426,624       1,372,107       9,414,558       2,053,236       (14,257,575 )
   Contract owner charges (Note 3)
     (7,501 )     (31,541 )     (4,821 )     (14,234 )     (2,280 )     (6,130 )     (35 )     (28,305 )     (11,583 )     (34,647 )
Net increase (decrease) in net assets from contract transactions
     10,042,670       40,734,479       9,936,274       15,125,677       11,545,710       3,201,476       3,750,637       25,710,287       13,583,997       2,702,109  
Net increase (decrease) in net assets
     10,803,181       47,155,606       6,661,567       7,510,578       11,174,482       3,477,781       3,124,236       23,847,975       14,951,753       1,584,506  
                                                                                 
Net assets beginning of period
     15,590,221       59,229,238       10,523,693       19,294,478       3,438,085       10,983,665       —       40,484,175       19,395,476       63,826,261  
                                                                                 
Net assets end of period
   $ 26,393,402     $ 106,384,844     $ 17,185,260     $ 26,805,056     $ 14,612,567     $ 14,461,446     $ 3,124,236     $ 64,332,150     $ 34,347,229     $ 65,410,767  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     1,203,658       5,215,087       863,084       2,045,134       298,490       1,124,211       —       3,896,661       1,886,848       6,448,094  
                                                                                 
      Units Issued
     1,111,949       4,276,570       1,235,223       2,281,131       1,166,793       675,744       539,335       3,920,432       1,754,054       2,414,998  
      Units Redeemed
     (373,963 )     (795,258 )     (423,740 )     (710,722 )     (165,187 )     (352,310 )     (132,796 )     (1,492,722 )     (503,244 )     (2,147,025 )
                                                                                 
Units Outstanding at December 31, 2014
     1,941,644       8,696,399       1,674,567       3,615,543       1,300,096       1,447,645       406,539       6,324,371       3,137,658       6,716,067  
                                                                                 
(a) Commencement of operations April 28, 2014.
                                                                          
 
See notes to the financial statements.
 
39
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
Curian/Schroder Emerging Europe Fund
    
Curian/T. Rowe Price Capital Appreciation Fund
    
Curian/The Boston Company Equity Income Fund
    
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund(a)
    
Curian/UBS Global Long Short Fixed Income Opportunities Fund
    
Curian/Van Eck International Gold Fund
    
JNL Disciplined Growth Fund
    
JNL Disciplined Moderate Fund
    
JNL Disciplined Moderate Growth Fund
    
JNL Institutional Alt 20 Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 53,706     $ 49,915     $ (363,036 )   $ (60,568 )   $ (136,859 )   $ (172,189 )   $ 1,004,638     $ 8,587,035     $ 5,919,691     $ 4,656,192  
   Net realized gain (loss) on investments
     (180,098 )     2,386,654       2,029,564       (367,190 )     (74,340 )     (1,400,459 )     35,338,405       72,004,152       89,988,583       51,504,477  
   Net change in unrealized appreciation (depreciation) on investments
     (727,729 )     1,893,127       1,950,768       (33,342 )     (544,540 )     (3,825,012 )     (15,657,034 )     (38,925,580 )     (47,813,859 )     (43,403,284 )
Net increase (decrease) in net assets from operations
     (854,121 )     4,329,696       3,617,296       (461,100 )     (755,739 )     (5,397,660 )     20,686,009       41,665,607       48,094,415       12,757,385  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     1,815,860       49,743,859       15,641,768       1,433,405       8,575,139       12,286,769       127,471,079       156,910,460       225,264,551       139,720,901  
   Surrenders and terminations
     (166,843 )     (1,589,714 )     (1,711,981 )     (224,552 )     (1,006,219 )     (845,335 )     (19,945,389 )     (60,131,639 )     (50,941,800 )     (65,769,149 )
   Transfers between Investment Divisions
     88,168       23,110,487       697,369       (19,169,827 )     437,934       8,829,775       8,043,241       48,407,810       49,739,057       (75,210,067 )
   Contract owner charges (Note 3)
     (976 )     (14,843 )     (12,098 )     (2,242 )     (25,123 )     (20,236 )     (7,105,090 )     (13,217,379 )     (16,305,779 )     (21,666,019 )
Net increase (decrease) in net assets from contract transactions
     1,736,209       71,249,789       14,615,058       (17,963,216 )     7,981,731       20,250,973       108,463,841       131,969,252       207,756,029       (22,924,334 )
                                                                                 
Net increase (decrease) in net assets
     882,088       75,579,485       18,232,354       (18,424,316 )     7,225,992       14,853,313       129,149,850       173,634,859       255,850,444       (10,166,949 )
                                                                                 
Net assets beginning of period
     1,538,985       9,228,428       28,342,432       18,424,316       7,719,540       11,291,223       521,713,292       1,026,832,403       1,216,735,393       1,697,532,924  
                                                                                 
Net assets end of period
   $ 2,421,073     $ 84,807,913     $ 46,574,786     $ —     $ 14,945,532     $ 26,144,536     $ 650,863,142     $ 1,200,467,262     $ 1,472,585,837     $ 1,687,365,975  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     148,995       877,948       1,948,410       1,865,063       780,745       2,435,614       45,866,327       82,175,928       100,110,377       102,360,408  
                                                                                 
      Units Issued
     447,096       6,755,232       1,394,055       172,822       1,244,050       5,103,405       14,939,756       18,113,522       25,474,371       10,161,234  
      Units Redeemed
     (270,668 )     (336,301 )     (429,595 )     (2,037,885 )     (426,289 )     (1,467,713 )     (5,556,603 )     (7,871,092 )     (8,731,270 )     (11,598,032 )
                                                                                 
Units Outstanding at December 31, 2014
     325,423       7,296,879       2,912,870       —       1,598,506       6,071,306       55,249,480       92,418,358       116,853,478       100,923,610  
                                                                                 
(a) The period is from January 1, 2014 through the date the Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund was acquired by Curian/Nicholas Convertible Arbitrage Fund on April 28, 2014.
 
See notes to the financial statements.
 
40
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL Institutional Alt 35 Fund
    
JNL Institutional Alt 50 Fund
    
JNL Institutional Alt 65 Fund
    
JNL/ AllianceBernstein Dynamic Asset Allocation Fund(a)
    
JNL/American Funds Balanced Allocation Fund
    
JNL/American Funds Blue Chip Income and Growth Fund
    
JNL/American Funds Global Bond Fund
    
JNL/American Funds Global Small Capitalization Fund
    
JNL/American Funds Growth Allocation Fund
    
JNL/American Funds Growth-Income Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 3,524,823     $ 366,328     $ (204,381 )   $ 21,141     $ (2,620,537 )   $ (4,412,536 )   $ (7,297,287 )   $ (4,439,867 )   $ (3,519,769 )   $ (14,485,869 )
   Net realized gain (loss) on investments
     71,720,725       93,977,762       30,674,683       64,020       9,485,659       49,322,682       2,836,280       16,836,640       9,774,418       80,254,148  
   Net change in unrealized appreciation (depreciation) on investments
     (65,352,079 )     (83,789,059 )     (28,104,699 )     (92,567 )     7,629,027       131,264,727       951,192       (13,848,057 )     4,770,307       95,926,694  
Net increase (decrease) in net assets from operations
     9,893,469       10,555,031       2,365,603       (7,406 )     14,494,149       176,174,873       (3,509,815 )     (1,451,284 )     11,024,956       161,694,973  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     188,195,227       318,854,385       (60,000 )     15,405,310       220,345,588       272,957,153       54,083,932       66,930,595       210,918,445       549,017,858  
   Surrenders and terminations
     (98,547,480 )     (133,467,226 )     (40,966,302 )     (211,260 )     (24,915,268 )     (54,688,870 )     (24,354,768 )     (13,791,654 )     (16,718,006 )     (75,229,330 )
   Transfers between Investment Divisions
     (137,482,673 )     (184,751,670 )     (77,829,882 )     3,504,077       107,437,687       224,322,858       14,128,682       7,381,217       83,896,753       140,639,543  
   Contract owner charges (Note 3)
     (29,173,811 )     (40,586,361 )     (8,236,648 )     (711 )     (6,935,778 )     (16,352,044 )     (5,478,787 )     (4,242,229 )     (6,218,217 )     (21,302,984 )
Net increase (decrease) in net assets from contract transactions
     (77,008,737 )     (39,950,872 )     (127,092,832 )     18,697,416       295,932,229       426,239,097       38,379,059       56,277,929       271,878,975       593,125,087  
                                                                                 
Net increase (decrease) in net assets
     (67,115,268 )     (29,395,841 )     (124,727,229 )     18,690,010       310,426,378       602,413,970       34,869,244       54,826,645       282,903,931       754,820,060  
                                                                                 
Net assets beginning of period
     2,315,266,549       3,197,208,283       746,748,398       —       439,310,178       1,145,062,654       433,086,282       316,078,255       357,689,205       1,561,325,247  
                                                                                 
Net assets end of period
   $ 2,248,151,281     $ 3,167,812,442     $ 622,021,169     $ 18,690,010     $ 749,736,556     $ 1,747,476,624     $ 467,955,526     $ 370,904,900     $ 640,593,136     $ 2,316,145,307  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     136,061,378       188,513,109       43,102,690       —       37,487,069       78,386,378       40,893,421       24,614,194       29,047,750       103,723,182  
                                                                                 
      Units Issued
     12,509,362       21,809,873       110,892       2,054,661       29,139,277       33,748,738       13,481,806       9,546,090       25,656,664       47,053,705  
      Units Redeemed
     (17,105,472 )     (24,370,108 )     (7,382,491 )     (223,299 )     (4,379,656 )     (6,575,244 )     (10,073,799 )     (5,404,578 )     (4,001,544 )     (9,287,583 )
                                                                                 
Units Outstanding at December 31, 2014
     131,465,268       185,952,874       35,831,091       1,831,362       62,246,690       105,559,872       44,301,428       28,755,706       50,702,870       141,489,304  
                                                                                 
(a) Commencement of operations April 28, 2014.
                                
 
See notes to the financial statements.
 
41
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL/American Funds International Fund
    
JNL/American Funds New World Fund
    
JNL/AQR Managed Futures Strategy Fund
    
JNL/BlackRock Commodity Securities Strategy Fund
    
JNL/BlackRock Global Allocation Fund
    
JNL/BlackRock Large Cap Select Growth Fund
    
JNL/Boston Partners Global Long Short Equity Fund(a)
    
JNL/Brookfield Global Infrastructure and MLP Fund
    
JNL/Capital Guardian Global Balanced Fund
    
JNL/Capital Guardian Global Diversified Research Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (4,089,841 )   $ (4,344,063 )   $ 1,407,788     $ (14,740,005 )   $ (20,885,144 )   $ (9,212,767 )   $ (5,635 )   $ (4,281,408 )   $ (2,716,193 )   $ (2,929,967 )
   Net realized gain (loss) on investments
     14,306,600       13,574,457       5,499,955       18,908,989       115,008,057       78,302,659       296       38,103,517       12,605,273       17,024,856  
   Net change in unrealized appreciation (depreciation) on investments
     (40,374,560 )     (82,338,265 )     989,358       (161,723,676 )     (84,149,029 )     (23,727,052 )     36,118       (27,474,360 )     (14,144,073 )     (10,816,433 )
Net increase (decrease) in net assets from operations
   (30,157,801 )     (73,107,871 )     7,897,101       (157,554,692 )     9,973,884       45,362,840       30,779       6,347,749       (4,254,993 )     3,278,456  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     142,941,197       123,217,259       24,615,480       107,151,960       708,837,551       79,386,832       1,026,937       215,777,106       37,519,676       25,050,136  
   Surrenders and terminations
     (19,520,285 )     (22,958,137 )     (4,067,788 )     (53,936,263 )     (108,203,057 )     (38,270,996 )     (60,361 )     (25,238,781 )     (29,971,042 )     (25,893,744 )
   Transfers between Investment Divisions
     61,124,610       64,396,462       (4,357,251 )     (1,300,205 )     62,744,635       16,029,405       2,305,978       267,307,743       (9,763,546 )     7,358,942  
   Contract owner charges (Note 3)
     (6,829,598 )     (8,110,690 )     (36,436 )     (10,609,031 )     (34,572,232 )     (6,198,353 )     (34 )     (5,754,759 )     (4,400,064 )     (3,713,441 )
Net increase (decrease) in net assets from contract transactions
     177,715,924       156,544,894       16,154,005       41,306,461       628,806,897       50,946,888       3,272,520       452,091,309       (6,614,976 )     2,801,893  
                                                                                 
Net increase (decrease) in net assets
     147,558,123       83,437,023       24,051,106       (116,248,231 )     638,780,781       96,309,728       3,303,299       458,439,058       (10,869,969 )     6,080,349  
                                                                                 
Net assets beginning of period
     531,620,516       617,703,585       75,698,680       959,276,176       2,635,570,638       596,970,897       —       395,362,294       460,256,914       402,702,145  
                                                                                 
Net assets end of period
   $ 679,178,639     $ 701,140,608     $ 99,749,786     $ 843,027,945     $ 3,274,351,419     $ 693,280,625     $ 3,303,299     $ 853,801,352     $ 449,386,945     $ 408,782,494  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     42,420,008       51,449,656       7,255,203       87,201,199       221,416,359       15,995,477       —       26,809,743       33,129,204       12,088,401  
                                                                                 
      Units Issued
     17,666,464       18,759,778       3,348,813       16,570,143       73,219,893       4,329,744       352,733       32,868,423       3,886,907       1,467,892  
      Units Redeemed
     (3,448,305 )     (5,697,038 )     (1,748,518 )     (13,283,791 )     (20,987,192 )     (3,132,221 )     (16,689 )     (4,987,337 )     (4,477,680 )     (1,433,322 )
                                                                                 
Units Outstanding at December 31, 2014
     56,638,167       64,512,396       8,855,498       90,487,551       273,649,060       17,193,000       336,044       54,690,829       32,538,431       12,122,971  
                                                                                 
(a) Commencement of operations September 15, 2014.
                              
 
See notes to the financial statements.
 
42
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL/DFA U.S. Core Equity Fund
    
JNL/Eagle SmallCap Equity Fund
    
JNL/Eastspring Investments Asia ex-Japan Fund
    
JNL/Eastspring Investments China-India Fund
    
JNL/Franklin Templeton Founding Strategy Fund
    
JNL/Franklin Templeton Global Growth Fund
    
JNL/Franklin Templeton Global Multisector Bond Fund
    
JNL/Franklin Templeton Income Fund
    
JNL/Franklin Templeton International Small Cap Growth Fund
    
JNL/Franklin Templeton Mutual Shares Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (3,804,413 )   $ (16,311,567 )   $ (646,935 )   $ (2,076,234 )   $ 1,929,245     $ (3,455,117 )   $ 16,167,892     $ 34,674,393     $ (2,814,796 )   $ (4,311,229 )
   Net realized gain (loss) on investments
     23,074,051       148,080,449       (851,873 )     2,674,617       68,810,517       22,644,301       4,221,381       39,940,656       38,093,872       41,991,192  
   Net change in unrealized appreciation (depreciation) on investments
     18,797,134       (121,506,536 )     5,843,432       29,080,312       (55,392,441 )     (43,184,640 )     (35,514,257 )     (58,727,228 )     (86,372,881 )     (4,660,487 )
Net increase (decrease) in net assets rom operations
     38,066,772       10,262,346       4,344,624       29,678,695       15,347,321       (23,995,456 )     (15,124,984 )     15,887,821       (51,093,805 )     33,019,476  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     103,223,345       136,114,028       15,351,958       28,802,720       168,409,079       74,261,994       146,903,245       352,513,930       84,599,620       65,030,739  
   Surrenders and terminations
     (22,130,641 )     (53,694,987 )     (6,563,045 )     (17,653,817 )     (116,069,310 )     (25,290,772 )     (33,734,360 )     (117,916,958 )     (20,134,136 )     (32,138,752 )
   Transfers between Investment Divisions
     82,133,028       (115,817,418 )     (7,570,583 )     (16,459,160 )     38,787,118       62,691,084       45,999,220       209,702,343       (3,522,085 )     7,157,830  
   Contract owner charges (Note 3)
     (4,535,509 )     (12,066,134 )     (1,453,369 )     (3,707,912 )     (16,109,739 )     (5,581,381 )     (6,460,476 )     (18,984,765 )     (4,486,539 )     (6,467,563 )
Net increase (decrease) in net assets from contract transactions
     158,690,223       (45,464,511 )     (235,039 )     (9,018,169 )     75,017,148       106,080,925       152,707,629       425,314,550       56,456,860       33,582,254  
                                                                                 
Net increase (decrease) in net assets
     196,756,995       (35,202,165 )     4,109,585       20,660,526       90,364,469       82,085,469       137,582,645       441,202,371       5,363,055       66,601,730  
                                                                                 
Net assets beginning of period
     370,944,184       1,131,303,126       123,980,626       329,053,904       1,467,587,680       439,451,016       600,386,079       1,556,741,477       419,450,632       559,364,629  
                                                                                 
Net assets end of period
   $ 567,701,179     $ 1,096,100,961     $ 128,090,211     $ 349,714,430     $ 1,557,952,149     $ 521,536,485     $ 737,968,724     $ 1,997,943,848     $ 424,813,687     $ 625,966,359  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     15,205,919       29,431,934       15,121,864       45,974,561       124,335,120       38,994,754       50,411,775       113,194,156       38,005,162       48,750,611  
                                                                                 
      Units Issued
     8,882,730       4,827,648       5,547,419       9,855,479       21,208,159       16,650,098       23,276,848       44,167,009       12,763,723       9,615,570  
      Units Redeemed
     (2,697,684 )     (6,257,735 )     (5,687,129 )     (11,375,376 )     (15,401,094 )     (7,509,278 )     (10,596,931 )     (14,916,901 )     (7,766,406 )     (6,826,617 )
                                                                                 
Units Outstanding at December 31, 2014
     21,390,965       28,001,847       14,982,154       44,454,664       130,142,185       48,135,574       63,091,692       142,444,264       43,002,479       51,539,564  
 
See notes to the financial statements.
 
43
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL/Franklin Templeton Small Cap Value Fund
    
JNL/Goldman Sachs Core Plus Bond Fund
    
JNL/Goldman Sachs Emerging Markets Debt Fund
    
JNL/Goldman Sachs Mid Cap Value Fund
    
JNL/Goldman Sachs U.S. Equity Flex Fund
    
JNL/Invesco Global Real Estate Fund
    
JNL/Invesco International Growth Fund
    
JNL/Invesco Large Cap Growth Fund
    
JNL/Invesco Mid Cap Value Fund
    
JNL/Invesco Small Cap Growth Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (6,275,068 )   $ 5,625,731     $ 542,356     $ (4,531,890 )   $ (3,186,495 )   $ (1,773,044 )   $ (1,987,580 )   $ (7,602,176 )   $ (3,570,870 )   $ (7,676,567 )
   Net realized gain (loss) on investments
     84,955,521       (8,526,030 )     (2,832,934 )     119,100,295       39,941,494       61,011,712       18,191,355       133,141,746       23,948,697       57,102,227  
   Net change in unrealized appreciation (depreciation) on investments
     (88,197,332 )     26,799,217       (11,099,362 )     (43,567,138 )     (11,448,124 )     71,001,564       (25,209,169 )     (91,806,712 )     13,348       (17,383,678 )
Net increase (decrease) in net assets from operations
     (9,516,879 )     23,898,918       (13,389,940 )     71,001,267       25,306,875       130,240,232       (9,005,394 )     33,732,858       20,391,175       32,041,982  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     106,516,743       61,022,983       10,252,078       93,647,823       33,597,157       166,072,835       101,446,265       68,811,806       38,566,996       121,892,897  
   Surrenders and terminations
     (27,791,070 )     (51,504,477 )     (14,299,137 )     (35,324,994 )     (13,250,266 )     (54,966,892 )     (30,855,983 )     (32,254,037 )     (19,022,286 )     (26,198,563 )
   Transfers between Investment Divisions
     (36,356,177 )     142,975,304       (21,812,229 )     41,973,005       86,638,605       128,782,411       34,713,624       (11,258,752 )     14,237,467       10,211,536  
   Contract owner charges (Note 3)
     (5,799,295 )     (6,689,871 )     (2,148,737 )     (7,163,392 )     (2,321,849 )     (11,135,402 )     (5,471,685 )     (5,548,280 )     (2,739,910 )     (5,177,134 )
Net increase (decrease) in net assets from contract transactions
     36,570,201       145,803,939       (28,008,025 )     93,132,442       104,663,647       228,752,952       99,832,221       19,750,737       31,042,267       100,728,736  
                                                                                 
Net increase (decrease) in net assets
     27,053,322       169,702,857       (41,397,965 )     164,133,709       129,970,522       358,993,184       90,826,827       53,483,595       51,433,442       132,770,718  
                                                                                 
Net assets beginning of period
     563,849,197       605,070,038       238,604,858       553,902,704       186,128,194       925,174,677       528,458,158       511,566,374       259,709,168       475,735,679  
                                                                                 
Net assets end of period
   $ 590,902,519     $ 774,772,895     $ 197,206,893     $ 718,036,413     $ 316,098,716     $ 1,284,167,861     $ 619,284,985     $ 565,049,969     $ 311,142,610     $ 608,506,397  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     30,232,775       24,752,782       17,676,804       30,169,811       15,729,551       62,885,447       25,919,018       29,452,208       10,303,981       19,910,110  
                                                                                 
      Units Issued
     9,080,000       12,525,999       1,226,849       12,280,997       11,857,379       22,659,821       8,200,581       10,322,845       3,419,835       10,381,138  
      Units Redeemed
     (7,348,895 )     (6,798,702 )     (3,345,894 )     (7,395,472 )     (3,857,399 )     (8,724,903 )     (3,607,156 )     (9,418,917 )     (2,296,018 )     (6,496,013 )
                                                                                 
Units Outstanding at December 31, 2014
     31,963,880       30,480,079       15,557,759       35,055,336       23,729,531       76,820,365       30,512,443       30,356,136       11,427,798       23,795,235  
 
See notes to the financial statements.
 
44
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL/Ivy Asset Strategy Fund
    
JNL/JPMorgan International Value Fund
    
JNL/JPMorgan MidCap Growth Fund
    
JNL/JPMorgan U.S. Government & Quality Bond Fund
    
JNL/Lazard Emerging Markets Fund
    
JNL/M&G Global Basics Fund(a)
    
JNL/MC 10 x 10 Fund
    
JNL/MC 25 Fund
    
JNL/MC Bond Index Fund
    
JNL/MC Communications Sector Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (11,616,919 )   $ 1,977,403     $ (9,326,129 )   $ 10,147,192     $ 974,264     $ (303,152 )   $ 1,266,757     $ 5,422,740     $ 11,102,352     $ 1,463,856  
   Net realized gain (loss) on investments
     240,468,043       4,796,909       101,688,427       (5,127,926 )     16,334,261       (1,643,788 )     29,116,320       152,278,957       7,286,803       6,115,372  
   Net change in unrealized appreciation(depreciation) on investments
     (398,855,000 )     (62,715,657 )     (37,215,702 )     15,527,220       (52,106,042 )     1,639,445       (5,594,385 )     (152,620,471 )     3,668,680       (2,770,227 )
Net increase (decrease) in net assets from operations
     (170,003,876 )     (55,941,345 )     55,146,596       20,546,486       (34,797,517 )     (307,495 )     24,788,692       5,081,226       22,057,835       4,809,001  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     459,392,928       49,846,725       145,586,201       52,985,347       22,242,270       1,293,637       45,202,574       90,509,431       82,207,345       16,525,535  
   Surrenders and terminations
     (135,683,442 )     (30,274,578 )     (34,502,922 )     (48,031,824 )     (35,262,666 )     (834,670 )     (22,304,997 )     (69,111,083 )     (44,442,454 )     (7,213,294 )
   Transfers between Investment Divisions
     (125,273,335 )     32,249,616       60,162,692       68,829,208       (46,237,315 )     (62,689,818 )     (2,130,234 )     (94,486,100 )     71,155,241       (17,846,245 )
   Contract owner charges (Note 3)
     (33,131,694 )     (4,319,935 )     (5,938,701 )     (5,696,112 )     (5,361,309 )     (217,315 )     (3,938,247 )     (8,248,809 )     (5,013,793 )     (1,283,521 )
Net increase (decrease) in net assets from contract transactions
     165,304,457       47,501,828       165,307,270       68,086,619       (64,619,020 )     (62,448,166 )     16,829,096       (81,336,561 )     103,906,339       (9,817,525 )
                                                                                 
Net increase (decrease) in net assets
     (4,699,419 )     (8,439,517 )     220,453,866       88,633,105       (99,416,537 )     (62,755,661 )     41,617,788       (76,255,335 )     125,964,174       (5,008,524 )
                                                                                 
Net assets beginning of period
     2,907,754,831       439,949,941       519,827,016       544,462,648       592,311,175       62,755,661       352,150,730       943,196,265       526,102,665       127,353,880  
                                                                                 
Net assets end of period
   $ 2,903,055,412     $ 431,510,424     $ 740,280,882     $ 633,095,753     $ 492,894,638     $ —     $ 393,768,518     $ 866,940,930     $ 652,066,839     $ 122,345,356  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     202,080,073       28,622,676       14,679,279       27,676,433       44,011,763       4,498,170       29,211,129       40,124,422       38,623,619       17,197,463  
                                                                                 
      Units Issued
     41,061,431       7,812,620       8,586,462       16,811,943       2,449,069       255,974       5,244,108       5,253,085       16,236,216       3,628,652  
      Units Redeemed
     (30,253,069 )     (4,661,976 )     (4,461,726 )     (13,537,562 )     (7,373,588 )     (4,754,144 )     (3,874,918 )     (8,872,235 )     (9,078,244 )     (5,034,282 )
                                                                                 
Units Outstanding at December 31, 2014
     212,888,435       31,773,320       18,804,015       30,950,814       39,087,244       —       30,580,319       36,505,272       45,781,591       15,791,833  
 
(a) The period is from January 1, 2014 through the date the JNL/M&G Global Basics Fund was acquired by JNL/Oppenheimer Global Growth Fund on April 28, 2014.
 
See notes to the financial statements.
 
45
 
Jackson National Separate Account I
Statements of Changes in Net Assets
      
For the Year Ended December 31, 2014
 
   
JNL/MC Consumer Brands Sector Fund
    
JNL/MC Dow 10 Fund
    
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund
    
JNL/MC Emerging Markets Index Fund
    
JNL/MC European 30 Fund
    
JNL/MC Financial Sector Fund
    
JNL/MC Global 15 Fund
    
JNL/MC Global Alpha Fund
    
JNL/MC Healthcare Sector Fund
    
JNL/MC Index 5 Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (4,418,864 )   $ (8,702,612 )   $ (843,724 )   $ (1,400,994 )   $ (658,090 )   $ (2,906,724 )   $ (5,811,529 )   $ 3,759,874     $ (12,555,025 )   $ (514,851 )
   Net realized gain (loss) on investments
     56,268,491       59,121,480       20,356,604       (22,771 )     2,608,171       42,252,819       29,356,816       (1,039,971 )     96,777,370       52,828,117  
   Net change in unrealized appreciation (depreciation) on investments
     (11,551,414 )     (6,893,424 )     (15,548,488 )     (27,664,826 )     (24,173,624 )     12,588,291       8,880,731       (4,025,304 )     202,479,356       (27,886,820 )
Net increase (decrease) in net assets from operations
     40,298,213       43,525,444       3,964,392       (29,088,591 )     (22,223,543 )     51,934,386       32,426,018       (1,305,401 )     286,701,701       24,426,446  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     76,475,670       44,368,683       22,550,060       101,271,125       84,724,960       80,838,674       14,482,277       4,582,695       313,394,052       69,313,259  
   Surrenders and terminations
     (25,987,839 )     (53,141,001 )     (4,380,207 )     (17,158,941 )     (11,287,858 )     (26,955,979 )     (45,816,412 )     (2,444,528 )     (71,924,241 )     (35,258,354 )
   Transfers between Investment Divisions
     (62,918,275 )     (33,677,870 )     15,260,532       41,826,751       62,495,311       16,918,652       (28,330,480 )     (5,313,038 )     403,124,497       (18,433,580 )
   Contract owner charges (Note 3)
     (4,692,129 )     (4,720,723 )     (929,989 )     (4,742,394 )     (2,303,523 )     (4,872,199 )     (2,273,123 )     (324,243 )     (13,922,355 )     (7,454,330 )
Net increase (decrease) in net assets from contract transactions
     (17,122,573 )     (47,170,911 )     32,500,396       121,196,541       133,628,890       65,929,148       (61,937,738 )     (3,499,114 )     630,671,953       8,166,995  
                                                                                 
Net increase (decrease) in net assets
     23,175,640       (3,645,467 )     36,464,788       92,107,950       111,405,347       117,863,534       (29,511,720 )     (4,804,515 )     917,373,654       32,593,441  
                                                                                 
Net assets beginning of period
     494,514,423       584,281,808       61,671,970       384,617,165       133,956,863       438,276,905       412,419,672       45,948,819       985,261,740       648,974,887  
                                                                                 
Net assets end of period
   $ 517,690,063     $ 580,636,341     $ 98,136,758     $ 476,725,115     $ 245,362,210     $ 556,140,439     $ 382,907,952     $ 41,144,304     $ 1,902,635,394     $ 681,568,328  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     24,591,441       42,547,415       4,450,497       38,939,727       8,872,035       41,208,882       23,806,473       4,670,685       47,835,348       51,032,986  
                                                                                 
      Units Issued
     6,572,518       7,160,227       4,501,405       24,778,164       14,162,325       16,335,055       2,458,468       747,830       36,827,322       7,678,994  
      Units Redeemed
     (7,721,047 )     (10,730,442 )     (2,217,103 )     (12,915,169 )     (6,021,200 )     (10,953,564 )     (6,132,658 )     (1,128,085 )     (10,088,459 )     (7,118,300 )
                                                                                 
Units Outstanding at December 31, 2014
     23,442,912       38,977,200       6,734,799       50,802,722       17,013,160       46,590,373       20,132,283       4,290,430       74,574,211       51,593,680  
 
See notes to the financial statements.
 
46
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL/MC International Index Fund
    
JNL/MC JNL 5 Fund
    
JNL/MC JNL Optimized 5 Fund
    
JNL/MC Nasdaq 25 Fund
    
JNL/MC NYSE International 25 Fund(a)
    
JNL/MC Oil & Gas Sector Fund
    
JNL/MC Pacific Rim 30 Fund
    
JNL/MC S&P 24 Fund
    
JNL/MC S&P 400 MidCap Index Fund
    
JNL/MC S&P 500 Index Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 16,048,255     $ 15,622,799     $ 1,853,007     $ (6,602,259 )   $ 527,253     $ (3,733,428 )   $ 1,156,543     $ (2,842,486 )   $ (6,264,488 )   $ (3,728,185 )
   Net realized gain (loss) on investments
     18,217,087       148,920,653       22,606,219       77,982,484       9,566,467       69,133,321       4,997,819       52,149,263       136,366,505       131,089,243  
   Net change in unrealized appreciation (depreciation) on investments
     (103,241,736 )     106,934,442       (3,822,502 )     10,694,500       (3,692,818 )     (221,994,461 )     (5,720,619 )     (38,562,400 )     (43,332,606 )     174,935,490  
Net increase (decrease) in net assets from operations
     (68,976,394 )     271,477,894       20,636,724       82,074,725       6,400,902       (156,594,568 )     433,743       10,744,377       86,769,411       302,296,548  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     142,723,582       102,590,828       32,086,165       109,813,477       8,032,072       192,183,210       22,552,357       23,037,756       217,240,533       519,209,019  
   Surrenders and terminations
     (51,861,702 )     (357,866,106 )     (35,439,313 )     (30,133,329 )     (4,179,011 )     (71,139,335 )     (4,531,384 )     (37,311,872 )     (73,378,829 )     (177,314,999 )
   Transfers between Investment Divisions
     110,898,932       (130,297,277 )     (4,302,701 )     208,399,866       (83,844,859 )     85,614,978       6,185,742       (45,083,834 )     (30,744,737 )     249,612,546  
   Contract owner charges (Note 3)
     (6,935,023 )     (20,489,861 )     (3,431,740 )     (5,060,137 )     (473,793 )     (12,462,486 )     (1,045,355 )     (2,518,025 )     (10,618,281 )     (24,543,273 )
Net increase (decrease) in net assets from contract transactions
     194,825,789       (406,062,416 )     (11,087,589 )     283,019,877       (80,465,591 )     194,196,367       23,161,360       (61,875,975 )     102,498,686       566,963,293  
                                                                                 
Net increase (decrease) in net assets
     125,849,395       (134,584,522 )     9,549,135       365,094,602       (74,064,689 )     37,601,799       23,595,103       (51,131,598 )     189,268,097       869,259,841  
                                                                                 
Net assets beginning of period
     730,995,366       3,120,294,271       397,388,251       385,253,200       74,064,689       1,103,184,553       91,438,626       391,819,757       1,090,083,547       2,360,164,741  
                                                                                 
Net assets end of period
   $ 856,844,761     $ 2,985,709,749     $ 406,937,386     $ 750,347,802     $ —     $ 1,140,786,352     $ 115,033,729     $ 340,688,159     $ 1,279,351,644     $ 3,229,424,582  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     39,548,616       193,763,556       31,601,903       20,891,670       8,915,361       27,240,699       5,928,518       25,979,353       44,573,045       146,683,453  
                                                                                 
      Units Issued
     16,692,995       8,203,332       4,702,971       20,953,564       2,611,434       10,089,903       3,201,438       2,811,397       14,430,319       55,020,014  
      Units Redeemed
     (6,440,852 )     (33,586,266 )     (5,699,560 )     (7,100,609 )     (11,526,795 )     (5,627,132 )     (1,816,112 )     (7,048,311 )     (10,719,808 )     (22,028,464 )
                                                                                 
Units Outstanding at December 31, 2014
     49,800,759       168,380,622       30,605,314       34,744,625       —       31,703,470       7,313,844       21,742,439       48,283,556       179,675,003  
 
(a) The period is from January 1, 2014 through the date the JNL/MC NYSE International 25 Fund was acquired by JNL/MC International Index Fund on September 15, 2014.
 
See notes to the financial statements.
 
47
 
Jackson National Separate Account I
Statements of Changes in Net Assets
  
For the Year Ended December 31, 2014
 
   
JNL/MC S&P SMid 60 Fund
    
JNL/MC Small Cap Index Fund
    
JNL/MC Technology Sector Fund
    
JNL/MC Utilities Sector Fund
    
JNL/MC Value Line 30 Fund
    
JNL/MMRS Conservative Fund(a)
    
JNL/MMRS Growth Fund(a)
    
JNL/MMRS Moderate Fund(a)
    
JNL/Morgan Stanley Mid Cap Growth Fund
    
JNL/Neuberger Berman Strategic Income Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (3,161,948 )   $ (5,451,542 )   $ (5,472,690 )   $ (207,559 )   $ (5,870,830 )   $ (70,683 )   $ (40,585 )   $ (119,135 )   $ (1,200,379 )   $ (1,012,501 )
   Net realized gain (loss) on investments
     60,302,439       55,823,382       50,148,585       290,936       29,828,458       525       13,589       44,838       1,265,282       3,109,994  
   Net change in unrealized appreciation (depreciation) on investments
     (51,346,227 )     (16,627,934 )     73,132,283       4,092,575       (3,293,964 )     308,857       114,602       407,884       (6,589,221 )     3,211,670  
Net increase (decrease) in net assets from operations
     5,794,264       33,743,906       117,808,178       4,175,952       20,663,664       238,699       87,606       333,587       (6,524,318 )     5,309,163  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     77,324,758       159,458,195       123,656,088       19,744,996       39,364,740       17,435,311       12,739,852       34,438,369       30,173,525       70,095,270  
   Surrenders and terminations
     (20,827,974 )     (89,560,777 )     (36,423,519 )     (1,086,615 )     (51,584,472 )     (358,572 )     (101,590 )     (571,990 )     (3,729,784 )     (12,933,812 )
   Transfers between Investment Divisions
     6,319,601       (82,813,681 )     142,903,052       17,671,773       18,824,597       7,629,756       4,840,583       9,830,647       6,637,838       140,223,201  
   Contract owner charges (Note 3)
     (3,318,815 )     (9,268,158 )     (7,187,077 )     (6,600 )     (3,455,159 )     (1,009 )     (5,026 )     (1,939 )     (1,004,125 )     (2,500,279 )
Net increase (decrease) in net assets from contract transactions
     59,497,570       (22,184,421 )     222,948,544       36,323,554       3,149,706       24,705,486       17,473,819       43,695,087       32,077,454       194,884,380  
                                                                                 
Net increase (decrease) in net assets
     65,291,834       11,559,485       340,756,722       40,499,506       23,813,370       24,944,185       17,561,425       44,028,674       25,553,136       200,193,543  
                                                                                 
Net assets beginning of period
     327,592,642       1,167,461,898       561,854,485       2,976,315       408,286,614       —       —       —       59,316,396       133,549,066  
                                                                                 
Net assets end of period
   $ 392,884,476     $ 1,179,021,383     $ 902,611,207     $ 43,475,821     $ 432,099,984     $ 24,944,185     $ 17,561,425     $ 44,028,674     $ 84,869,532     $ 333,742,609  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     20,715,143       52,683,092       60,591,683       312,255       30,035,128       —       —       —       4,608,495       13,007,094  
                                                                                 
      Units Issued
     10,046,215       12,403,593       33,231,669       3,861,827       11,126,521       2,716,554       1,769,586       4,480,152       7,454,787       22,811,476  
      Units Redeemed
     (6,480,079 )     (13,756,156 )     (12,365,527 )     (520,462 )     (11,337,163 )     (321,396 )     (75,708 )     (240,617 )     (5,352,481 )     (4,354,331 )
                                                                                 
Units Outstanding at December 31, 2014
     24,281,279       51,330,529       81,457,825       3,653,620       29,824,486       2,395,158       1,693,878       4,239,535       6,710,801       31,464,239  
 
(a) Commencement of operations April 28, 2014.
 
See notes to the financial statements.
 
48
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL/Oppenheimer Global Growth Fund
    
JNL/PIMCO Real Return Fund
    
JNL/PIMCO Total Return Bond Fund
    
JNL/PPM America Floating Rate Income Fund
    
JNL/PPM America High Yield Bond Fund
    
JNL/PPM America Mid Cap Value Fund
    
JNL/PPM America Small Cap Value Fund
    
JNL/PPM America Value Equity Fund
    
JNL/Red Rocks Listed Private Equity Fund
    
JNL/S&P 4 Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (6,100,975 )   $ (11,060,626 )   $ 59,956,686     $ 10,928,010     $ 69,270,847     $ (2,735,843 )   $ (2,208,353 )   $ 6,428,417     $ 28,011,320     $ 33,088,972  
   Net realized gain (loss) on investments
     42,913,956       (68,828,438 )     15,860,958       7,755,004       44,718,232       42,459,653       41,655,175       17,469,331       37,914,156       229,879,109  
   Net change in unrealized appreciation (depreciation) on investments
     (33,486,979 )     103,782,551       5,169,863       (35,233,250 )     (138,989,078 )     (15,487,375 )     (32,438,273 )     (6,650,453 )     (70,955,953 )     212,493,193  
Net increase (decrease) in net assets from operations
     3,326,002       23,893,487       80,987,507       (16,550,236 )     (24,999,999 )     24,236,435       7,008,549       17,247,295       (5,030,477 )     475,461,274  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     85,580,905       115,285,949       293,835,919       363,619,327       281,686,367       56,712,218       25,491,325       16,192,800       75,017,557       1,080,063,773  
   Surrenders and terminations
     (35,269,108 )     (93,851,922 )     (248,070,937 )     (83,075,932 )     (136,406,002 )     (14,747,968 )     (8,566,570 )     (15,025,926 )     (25,799,376 )     (163,926,283 )
   Transfers between Investment Divisions
     44,966,796       (71,538,733 )     (316,888,602 )     (139,023,911 )     (70,189,130 )     (15,932,261 )     (12,835,953 )     14,705,164       (37,612,810 )     390,536,835  
   Contract owner charges (Note 3)
     (6,879,361 )     (14,782,142 )     (34,248,905 )     (12,019,196 )     (15,823,578 )     (2,761,644 )     (1,955,566 )     (1,457,719 )     (3,863,236 )     (36,580,472 )
Net increase (decrease) in net assets from contract transactions
     88,399,232       (64,886,848 )     (305,372,525 )     129,500,288       59,267,657       23,270,345       2,133,236       14,414,319       7,742,135       1,270,093,853  
                                                                                 
Net increase (decrease) in net assets
     91,725,234       (40,993,361 )     (224,385,018 )     112,950,052       34,267,658       47,506,780       9,141,785       31,661,614       2,711,658       1,745,555,127  
                                                                                 
Net assets beginning of period
     601,435,331       1,358,821,812       3,417,014,121       1,077,933,247       1,571,549,095       255,732,742       189,982,144       170,361,803       494,897,249       2,922,385,500  
                                                                                 
Net assets end of period
   $ 693,160,565     $ 1,317,828,451     $ 3,192,629,103     $ 1,190,883,299     $ 1,605,816,753     $ 303,239,522     $ 199,123,929     $ 202,023,417     $ 497,608,907     $ 4,667,940,627  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     32,481,536       101,677,918       178,424,220       99,527,607       81,105,647       16,839,543       12,721,861       6,708,461       33,391,633       165,123,083  
                                                                                 
      Units Issued
     10,835,595       19,896,249       21,435,028       43,030,352       41,566,632       10,060,967       7,332,830       2,547,442       5,469,971       91,922,437  
      Units Redeemed
     (6,100,169 )     (24,816,018 )     (37,779,323 )     (31,433,507 )     (39,354,101 )     (8,639,041 )     (7,301,946 )     (2,171,934 )     (5,157,770 )     (24,020,188 )
                                                                                 
Units Outstanding at December 31, 2014
     37,216,962       96,758,149       162,079,925       111,124,452       83,318,178       18,261,469       12,752,745       7,083,969       33,703,834       233,025,332  
 
See notes to the financial statements.
 
49
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL/S&P Competitive Advantage Fund
    
JNL/S&P Dividend Income & Growth Fund
    
JNL/S&P International 5 Fund(b)
    
JNL/S&P Intrinsic Value Fund
    
JNL/S&P Managed Aggressive Growth Fund
    
JNL/S&P Managed Conservative Fund
    
JNL/S&P Managed Growth Fund
    
JNL/S&P Managed Moderate Fund
    
JNL/S&P Managed Moderate Growth Fund
    
JNL/S&P Mid 3 Fund(a)
  
Operations
                                                            
   Net investment income (loss)
   $ (8,085,432 )   $ (2,824,090 )   $ (3,544 )   $ (4,743,206 )   $ (15,245,223 )   $ (19,197,493 )   $ (41,650,015 )   $ (40,531,974 )   $ (72,551,616 )   $ (276,517 )
   Net realized gain (loss) on investments
     94,757,981       165,465,653       633       133,685,336       106,193,600       43,594,202       232,704,123       114,315,332       245,576,213       220,460  
   Net change in unrealized appreciation (depreciation) on investments
     (28,273,880 )     65,354,713       (14,130 )     (11,640,327 )     (14,230,212 )     203,885       (14,488,176 )     1,698,051       (2,654,783 )     3,839,035  
Net increase (decrease) in net assets from operations
     58,398,669       227,996,276       (17,041 )     117,301,803       76,718,165       24,600,594       176,565,932       75,481,409       170,369,814       3,782,978  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     104,130,682       227,643,632       1,403,149       155,266,640       213,635,316       126,330,271       517,867,290       305,697,967       565,348,085       25,097,016  
   Surrenders and terminations
     (34,409,817 )     (115,197,484 )     (6,093 )     (39,142,515 )     (77,991,063 )     (129,009,190 )     (239,525,971 )     (217,365,330 )     (335,468,857 )     (558,912 )
   Transfers between Investment Divisions
     30,952,758       141,632,151       1,089,155       210,789,563       (28,123,100 )     (63,709,379 )     17,325,637       (50,836,827 )     (66,427,296 )     51,905,129  
   Contract owner charges (Note 3)
     (6,919,033 )     (21,652,953 )     (42 )     (8,027,451 )     (16,024,285 )     (17,220,542 )     (47,937,374 )     (35,647,725 )     (65,594,850 )     (155,691 )
Net increase (decrease) in net assets from contract transactions
     93,754,590       232,425,346       2,486,169       318,886,237       91,496,868       (83,608,840 )     247,729,582       1,848,085       97,857,082       76,287,542  
                                                                                 
Net increase (decrease) in net assets
     152,153,259       460,421,622       2,469,128       436,188,040       168,215,033       (59,008,246 )     424,295,514       77,329,494       268,226,896       80,070,520  
                                                                                 
Net assets beginning of period
     616,475,903       1,781,587,960       —       605,776,611       1,425,615,525       1,567,877,861       4,178,451,198       3,071,065,221       5,616,026,222       —  
                                                                                 
Net assets end of period
   $ 768,629,162     $ 2,242,009,582     $ 2,469,128     $ 1,041,964,651     $ 1,593,830,558     $ 1,508,869,615     $ 4,602,746,712     $ 3,148,394,715     $ 5,884,253,118     $ 80,070,520  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2013
     32,284,016       111,465,419       —       31,927,884       72,851,677       117,676,849       211,959,654       208,670,035       299,937,000       —  
                                                                                 
      Units Issued
     11,781,809       27,625,584       263,606       24,532,096       13,981,086       14,269,842       33,013,462       26,931,014       37,009,934       7,739,617  
      Units Redeemed
     (7,010,413 )     (14,088,007 )     (1,816 )     (9,347,373 )     (9,431,635 )     (20,614,829 )     (21,209,108 )     (27,161,487 )     (32,514,168 )     (655,479 )
                                                                                 
Units Outstanding at December 31, 2014
     37,055,412       125,002,996       261,790       47,112,607       77,401,128       111,331,862       223,764,008       208,439,562       304,432,766       7,084,138  
 
(a) Commencement of operations April 28, 2014.
(b) Commencement of operations September 15, 2014.
 
See notes to the financial statements.
 
50
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2014
 
   
JNL/S&P Total Yield Fund
    
JNL/Scout Unconstrained Bond Fund(a)
    
JNL/T. Rowe Price Established Growth Fund
    
JNL/T. Rowe Price Mid-Cap Growth Fund
    
JNL/T. Rowe Price Short-Term Bond Fund
    
JNL/T. Rowe Price Value Fund
    
JNL/WMC Balanced Fund
    
JNL/WMC Money Market Fund
    
JNL/WMC Value Fund
  
Operations
                                                      
   Net investment income (loss)
   $ (2,351,930 )   $ (53,223 )   $ (31,089,039 )   $ (31,093,595 )   $ (2,235,750 )   $ (7,494,617 )   $ (4,610,555 )   $ (19,648,257 )   $ (59,092 )
   Net realized gain (loss) on investments
     94,804,059       (32,941 )     324,272,518       298,671,126       (868,425 )     125,732,646       211,040,992       14,251       59,958,437  
   Net change in unrealized appreciation (depreciation) on investments
     (36,096,055 )     (280,278 )     (145,447,510 )     (15,927,643 )     (5,601,919 )     8,652,174       80,712,598       —       261,941  
Net increase (decrease) in net assets from operations
     56,356,074       (366,442 )     147,735,969       251,649,888       (8,706,094 )     126,890,203       287,143,035       (19,634,006 )     60,161,286  
                                                                         
Contract transactions 1
                                                                        
   Purchase payments (Note 4)
     93,433,086       11,875,480       312,276,368       305,140,503       186,455,685       194,726,344       528,328,410       791,615,124       56,067,558  
   Surrenders and terminations
     (28,953,862 )     (213,162 )     (121,999,676 )     (121,442,233 )     (64,135,865 )     (69,299,080 )     (199,035,545 )     (297,677,059 )     (40,145,329 )
   Transfers between Investment Divisions
     103,647,343       4,640,916       (22,130,444 )     6,798,745       14,956,974       115,415,047       251,030,424       (510,683,030 )     (40,252,456 )
   Contract owner charges (Note 3)
     (4,696,928 )     (2,185 )     (20,163,643 )     (24,325,766 )     (7,746,393 )     (10,482,660 )     (37,140,070 )     (15,127,974 )     (6,088,423 )
Net increase (decrease) in net assets from contract transactions
     163,429,639       16,301,049       147,982,605       166,171,249       129,530,401       230,359,651       543,183,219       (31,872,939 )     (30,418,650 )
                                                                         
Net increase (decrease) in net assets
     219,785,713       15,934,607       295,718,574       417,821,137       120,824,307       357,249,854       830,326,254       (51,506,945 )     29,742,636  
                                                                         
Net assets beginning of period
     362,318,320       —       2,019,756,972       2,161,052,341       697,296,336       969,476,516       3,194,549,403       1,268,082,975       638,676,161  
                                                                         
Net assets end of period
   $ 582,104,033     $ 15,934,607     $ 2,315,475,546     $ 2,578,873,478     $ 818,120,643     $ 1,326,726,370     $ 4,024,875,657     $ 1,216,576,030     $ 668,418,797  
                                                                         
1 Contract unit transactions
                                                                        
Units Outstanding at December 31, 2013
     22,352,627       —       44,000,274       30,964,258       66,830,209       43,152,641       86,719,327       104,583,006       22,497,175  
                                                                         
      Units Issued
     16,385,566       1,886,380       10,366,779       6,231,118       32,186,079       17,796,362       21,616,937       117,877,386       2,903,311  
      Units Redeemed
     (7,399,315 )     (218,134 )     (7,622,534 )     (4,131,185 )     (20,036,016 )     (8,260,933 )     (7,999,382 )     (121,454,167 )     (3,995,780 )
                                                                         
Units Outstanding at December 31, 2014
     31,338,878       1,668,246       46,744,519       33,064,191       78,980,272       52,688,070       100,336,882       101,006,225       21,404,706  
 
(a) Commencement of operations April 28, 2014.
 
See notes to the financial statements.
 
51
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
CG - Conservative Fund
    
CG - Equity 100 Fund
    
CG - Equity Income Fund
    
CG - Fixed Income 100 Fund
    
CG - Growth Fund(a)
    
CG - Institutional Alt 100 Conservative Fund(a)
    
CG - Institutional Alt 100 Growth Fund(a)
    
CG - Institutional Alt 100 Moderate Fund
    
CG - Institutional Alt 65 Fund
    
CG - Interest Rate Opportunities Fund(a)
  
Operations
                                                            
   Net investment income (loss)
   $ (154,048 )   $ (233,695 )   $ (182,664 )   $ (94,242 )   $ (134,407 )   $ (70,482 )   $ (132,444 )   $ (2,351,543 )   $ (741,305 )   $ (110,120 )
   Net realized gain (loss) on investments
     154,093       429,122       508,183       (171,425 )     192,557       (2,645 )     3,784       1,618,403       1,059,873       7,306  
   Net change in unrealized appreciation (depreciation) on investments
     (337,638 )     5,575,477       3,855,403       (450,394 )     2,269,338       206,646       912,682       5,808,303       5,424,661       363,121  
Net increase (decrease) in net assets from operations
     (337,593 )     5,770,904       4,180,922       (716,061 )     2,327,488       133,519       784,022       5,075,163       5,743,229       260,307  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     42,393,942       37,008,092       23,055,137       21,852,928       38,027,067       15,430,501       31,997,795       161,607,610       62,871,089       24,105,699  
   Surrenders and terminations
     (3,008,080 )     (769,538 )     (1,652,075 )     (713,528 )     (551,619 )     (276,513 )     (199,529 )     (7,952,973 )     (3,148,256 )     (383,673 )
   Transfers between Investment Divisions
     (8,251,109 )     3,836,592       1,337,644       (4,373,874 )     4,014,296       2,452,944       4,493,981       (18,796,313 )     (4,298,102 )     4,957,531  
   Contract owner charges (Note 3)
     (19,184 )     (26,467 )     (15,489 )     (10,179 )     (1,314 )     (1,946 )     (5,882 )     (204,661 )     (102,309 )     (1,615 )
Net increase (decrease) in net assets from contract transactions
     31,115,569       40,048,679       22,725,217       16,755,347       41,488,430       17,604,986       36,286,365       134,653,663       55,322,422       28,677,942  
                                                                                 
Net increase (decrease) in net assets
     30,777,976       45,819,583       26,906,139       16,039,286       43,815,918       17,738,505       37,070,387       139,728,826       61,065,651       28,938,249  
                                                                                 
Net assets beginning of period
     24,477,443       3,442,699       16,286,228       6,019,762       —       —       —       135,531,012       46,330,618       —  
                                                                                 
Net assets end of period
   $ 55,255,419     $ 49,262,282     $ 43,192,367     $ 22,059,048     $ 43,815,918     $ 17,738,505     $ 37,070,387     $ 275,259,838     $ 107,396,269     $ 28,938,249  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     2,327,571       334,672       1,568,040       599,265       —       —       —       13,375,634       4,480,359       —  
                                                                                 
      Units Issued
     4,767,080       3,864,801       2,431,366       2,527,277       4,273,895       1,995,337       3,935,698       16,573,004       6,485,233       3,179,405  
      Units Redeemed
     (1,827,011 )     (393,505 )     (400,621 )     (851,527 )     (241,084 )     (208,532 )     (268,425 )     (3,523,508 )     (1,303,977 )     (217,011 )
                                                                                 
Units Outstanding at December 31, 2013
     5,267,640       3,805,968       3,598,785       2,275,015       4,032,811       1,786,805       3,667,273       26,425,130       9,661,615       2,962,394  
 
(a) Commencement of operations April 29, 2013.
 
See notes to the financial statements.
 
52
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
CG - International Opportunities Conservative Fund(a)
    
CG - International Opportunities Growth Fund(a)
    
CG - International Opportunities Moderate Fund(a)
    
CG - Maximum Growth Fund
    
CG - Moderate Fund
    
CG - Moderate Growth Fund
    
CG - Multi-Strategy Income Fund(a)
    
CG - Real Assets Fund(a)
    
CG - Tactical Maximum Growth Fund
    
CG - Tactical Moderate Growth Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (7,669 )   $ (17,141 )   $ (15,873 )   $ (370,389 )   $ (642,556 )   $ (1,351,564 )   $ (85,725 )   $ (16,809 )   $ (447,792 )   $ (1,072,843 )
   Net realized gain (loss) on investments
     8,367       8,991       8,435       657,385       1,037,938       1,536,882       (5,188 )     5,962       544,903       2,174,825  
   Net change in unrealized appreciation (depreciation) on investments
     29,140       186,460       107,309       7,062,882       9,620,061       15,927,960       209,773       62,203       6,340,643       14,794,611  
Net increase (decrease) in net assets from operations
     29,838       178,310       99,871       7,349,878       10,015,443       16,113,278       118,860       51,356       6,437,754       15,896,593  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     1,917,425       3,637,844       4,180,412       37,168,431       113,085,349       170,338,440       18,675,191       3,585,742       39,505,179       149,945,319  
   Surrenders and terminations
     (27,321 )     (21,591 )     (50,858 )     (1,211,650 )     (5,363,683 )     (4,202,052 )     (475,463 )     (73,336 )     (977,768 )     (5,235,436 )
   Transfers between Investment Divisions
     (75,841 )     729,177       595,786       1,968,321       6,841,972       5,152,365       1,889,114       1,435,881       1,406,661       (2,182,451 )
   Contract owner charges (Note 3)
     (81 )     (137 )     (500 )     (46,413 )     (55,204 )     (110,144 )     (403 )     (1,039 )     (31,036 )     (113,166 )
Net increase (decrease) in net assets from contract transactions
     1,814,182       4,345,293       4,724,840       37,878,689       114,508,434       171,178,609       20,088,439       4,947,248       39,903,036       142,414,266  
                                                                                 
Net increase (decrease) in net assets
     1,844,020       4,523,603       4,824,711       45,228,567       124,523,877       187,291,887       20,207,299       4,998,604       46,340,790       158,310,859  
                                                                                 
Net assets beginning of period
     —       —       —       20,322,352       47,534,777       65,696,834       —       —       19,798,259       69,876,900  
                                                                                 
Net assets end of period
   $ 1,844,020     $ 4,523,603     $ 4,824,711     $ 65,550,919     $ 172,058,654     $ 252,988,721     $ 20,207,299     $ 4,998,604     $ 66,139,049     $ 228,187,759  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     —       —       —       1,976,237       4,558,983       6,298,789       —       —       1,947,960       6,822,506  
                                                                                 
      Units Issued
     222,418       484,130       548,188       3,991,652       11,518,622       17,073,886       2,330,320       538,767       4,308,536       15,235,099  
      Units Redeemed
     (33,028 )     (37,043 )     (62,757 )     (545,500 )     (1,207,868 )     (1,440,788 )     (238,443 )     (30,229 )     (558,333 )     (2,068,524 )
                                                                                 
Units Outstanding at December 31, 2013
     189,390       447,087       485,431       5,422,389       14,869,737       21,931,887       2,091,877       508,538       5,698,163       19,989,081  
 
(a) Commencement of operations April 29, 2013.
 
See notes to the financial statements.
 
53
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
Curian Dynamic Risk Advantage - Diversified Fund
    
Curian Dynamic Risk Advantage - Growth Fund
    
Curian Dynamic Risk Advantage - Income Fund
    
Curian Focused International Equity Fund(b)
    
Curian Focused U.S. Equity Fund(b)
    
Curian Long Short Credit Fund(a)
    
Curian Tactical Advantage 35 Fund
    
Curian Tactical Advantage 60 Fund
    
Curian Tactical Advantage 75 Fund
    
Curian/Aberdeen Latin America Fund(a)
  
Operations
                                                            
   Net investment income (loss)
   $ (2,027,111 )   $ (394,806 )   $ (1,393,805 )   $ (899 )   $ (708 )   $ (20,550 )   $ (286,476 )   $ (546,648 )   $ (464,546 )   $ 2,456  
   Net realized gain (loss) on investments
     479,467       1,823,907       220,929       2,747       211       12,239       273,121       558,374       678,154       (4,029 )
   Net change in unrealized appreciation (depreciation) on investments
     795,902       (831,335 )     67,581       9,123       23,594       165,729       1,299,437       5,979,314       6,764,844       (75,449 )
Net increase (decrease) in net assets from operations
     (751,742 )     597,766       (1,105,295 )     10,971       23,097       157,418       1,286,082       5,991,040       6,978,452       (77,022 )
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     172,605,488       42,029,560       103,356,949       382,736       368,171       4,249,320       18,911,085       50,297,215       39,598,051       1,007,964  
   Surrenders and terminations
     (10,742,952 )     (1,493,105 )     (7,551,656 )     (176 )     (1,837 )     (164,278 )     (1,514,858 )     (1,584,601 )     (1,422,495 )     (24,969 )
   Transfers between Investment Divisions
     (20,700,550 )     (4,740,665 )     (18,143,692 )     31,007       148,358       1,333,964       (2,392,244 )     2,324,378       3,943,480       310,055  
   Contract owner charges (Note 3)
     (158,395 )     (40,002 )     (69,271 )     (5 )     —       (177 )     (32,059 )     (29,397 )     (33,368 )     (107 )
Net increase (decrease) in net assets from contract transactions
     141,003,591       35,755,788       77,592,330       413,562       514,692       5,418,829       14,971,924       51,007,595       42,085,668       1,292,943  
                                                                                 
Net increase (decrease) in net assets
     140,251,849       36,353,554       76,487,035       424,533       537,789       5,576,247       16,258,006       56,998,635       49,064,120       1,215,921  
                                                                                 
Net assets beginning of period
     98,448,086       19,135,929       72,576,631       —       —       —       16,474,040       23,235,946       21,517,298       —  
                                                                                 
Net assets end of period
   $ 238,699,935     $ 55,489,483     $ 149,063,666     $ 424,533     $ 537,789     $ 5,576,247     $ 32,732,046     $ 80,234,581     $ 70,581,418     $ 1,215,921  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     9,840,197       2,024,980       7,067,437       —       —       —       1,593,338       2,227,687       2,043,996       —  
                                                                                 
      Units Issued
     17,897,882       4,953,184       10,774,399       63,412       49,464       631,115       2,233,768       5,211,644       4,145,061       168,552  
      Units Redeemed
     (4,120,346 )     (1,147,872 )     (3,376,262 )     (22,931 )     (280 )     (78,644 )     (825,428 )     (602,338 )     (470,715 )     (21,563 )
                                                                                 
Units Outstanding at December 31, 2013
     23,617,733       5,830,292       14,465,574       40,481       49,184       552,471       3,001,678       6,836,993       5,718,342       146,989  
 
(a) Commencement of operations April 29, 2013.
(b) Commencement of operations September 16, 2013.
 
See notes to the financial statements.
 
54
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
Curian/American Funds Global Growth Fund(b)
    
Curian/American Funds Growth Fund
    
Curian/AQR Risk Parity Fund(b)
    
Curian/Ashmore Emerging Market Small Cap Equity Fund(a)
    
Curian/Baring International Fixed Income Fund(a)
    
Curian/BlackRock Global Long Short Credit Fund(a)
    
Curian/DFA U.S. Micro Cap Fund
    
Curian/DoubleLine Total Return Fund(b)
    
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund(a)
    
Curian/Epoch Global Shareholder Yield Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (5,912 )   $ (204,668 )   $ (1,931 )   $ (4,575 )   $ 3,048     $ (78,829 )   $ 5,175     $ (6,569 )   $ (29,571 )   $ 359,252  
   Net realized gain (loss) on investments
     2,163       533,035       1,664       4,149       209       19,538       205,236       757       (22,527 )     1,636,435  
   Net change in unrealized appreciation (depreciation) on investments
     220,558       5,809,551       (11,414 )     74,442       (16,541 )     314,262       1,817,320       (33,431 )     (19,137 )     (570,604 )
Net increase (decrease) in net assets from operations
     216,809       6,137,918       (11,681 )     74,016       (13,284 )     254,971       2,027,731       (39,243 )     (71,235 )     1,425,083  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     3,931,144       25,937,927       885,223       1,048,219       942,397       16,284,811       9,541,427       3,922,745       6,276,719       9,932,417  
   Surrenders and terminations
     (21,433 )     (739,401 )     (2,259 )     (5,447 )     (44,169 )     (418,577 )     (114,377 )     (19,855 )     (415,373 )     (182,218 )
   Transfers between Investment Divisions
     936,339       4,023,557       476,878       410,459       325,470       6,189,114       4,227,984       1,303,632       1,662,507       2,770,411  
   Contract owner charges (Note 3)
     (38 )     (16,613 )     (141 )     (139 )     (91 )     (2,023 )     (2,013 )     (115 )     (1,173 )     (3,033 )
Net increase (decrease) in net assets from contract transactions
     4,846,012       29,205,470       1,359,701       1,453,092       1,223,607       22,053,325       13,653,021       5,206,407       7,522,680       12,517,577  
                                                                                 
Net increase (decrease) in net assets
     5,062,821       35,343,388       1,348,020       1,527,108       1,210,323       22,308,296       15,680,752       5,167,164       7,451,445       13,942,660  
                                                                                 
Net assets beginning of period
     —       9,870,365       —       —       —       —       507,732       —       —       1,647,561  
                                                                                 
Net assets end of period
   $ 5,062,821     $ 45,213,753     $ 1,348,020     $ 1,527,108     $ 1,210,323     $ 22,308,296     $ 16,188,484     $ 5,167,164     $ 7,451,445     $ 15,590,221  
                                                                                 
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     —       932,664       —       —       —       —       50,389       —       —       155,237  
                                                                                 
      Units Issued
     469,920       2,733,861       147,057       162,446       200,280       2,410,472       1,179,309       538,450       941,475       1,151,068  
      Units Redeemed
     (8,280 )     (331,140 )     (12,647 )     (14,594 )     (73,602 )     (185,572 )     (99,398 )     (20,113 )     (152,891 )     (102,647 )
                                                                                 
Units Outstanding at December 31, 2013
     461,640       3,335,385       134,410       147,852       126,678       2,224,900       1,130,300       518,337       788,584       1,203,658  
 
(a) Commencement of operations April 29, 2013.
(b) Commencement of operations September 16, 2013.
 
See notes to the financial statements.
 
55
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
    
 
   
Curian/FAMCO Flex Core Covered Call Fund
    
Curian/Franklin Templeton Frontier Markets Fund
    
Curian/Franklin Templeton Natural Resources Fund
    
Curian/Lazard International Strategic Equity Fund(a)
    
Curian/Neuberger Berman Currency Fund
    
Curian/Nicholas Convertible Arbitrage Fund
    
Curian/PIMCO Credit Income Fund
    
Curian/PineBridge Merger Arbitrage Fund
    
Curian/Schroder Emerging Europe Fund(a)
    
Curian/T. Rowe Price Capital Appreciation Fund(b)
  
Operations
                                                            
   Net investment income (loss)
   $ 329,148     $ (54,007 )   $ (137,945 )   $ (8,455 )   $ 27,797     $ (282,908 )   $ 151,143     $ (547,902 )   $ 13,443     $ 11,175  
   Net realized gain (loss) on investments
     259,568       19,471       127,875       6,196       (12,244 )     316,561       (198,238 )     215,806       (7,640 )     11,237  
   Net change in unrealized appreciation (depreciation) on investments
     3,134,363       816,156       1,014,774       234,183       (206,868 )     188,953       (672,683 )     (222,773 )     (2,757 )     161,943  
Net increase (decrease) in net assets from operations
     3,723,079       781,620       1,004,704       231,924       (191,315 )     222,606       (719,778 )     (554,869 )     3,046       184,355  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     34,904,674       5,709,243       11,510,284       2,370,721       8,313,695       28,527,596       15,984,286       42,282,713       967,877       7,120,056  
   Surrenders and terminations
     (984,385 )     (46,820 )     (503,034 )     (33,585 )     (403,116 )     (1,172,638 )     (925,111 )     (2,077,300 )     (8,915 )     (89,196 )
   Transfers between Investment Divisions
     6,720,499       3,582,849       782,461       869,261       (501,400 )     886,335       (7,918,192 )     (2,735,432 )     577,010       2,013,233  
   Contract owner charges (Note 3)
     (19,771 )     (692 )     (10,238 )     (236 )     (2,224 )     (14,765 )     (7,280 )     (31,072 )     (33 )     (20 )
Net increase (decrease) in net assets from contract transactions
     40,621,017       9,244,580       11,779,473       3,206,161       7,406,955       28,226,528       7,133,703       37,438,909       1,535,939       9,044,073  
                                                                                 
Net increase (decrease) in net assets
     44,344,096       10,026,200       12,784,177       3,438,085       7,215,640       28,449,134       6,413,925       36,884,040       1,538,985       9,228,428  
                                                                                 
Net assets beginning of period
     14,885,142       497,493       6,510,301       —       3,768,025       12,035,041       12,981,551       26,942,221       —       —  
                                                                                 
Net assets end of period
   $ 59,229,238     $ 10,523,693     $ 19,294,478     $ 3,438,085     $ 10,983,665     $ 40,484,175     $ 19,395,476     $ 63,826,261     $ 1,538,985     $ 9,228,428  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     1,461,488       47,796       741,839       —       374,313       1,184,323       1,228,758       2,698,826       —       —  
                                                                                 
      Units Issued
     4,121,679       853,411       1,512,031       308,283       967,781       3,189,611       1,815,957       5,525,024       191,128       890,383  
      Units Redeemed
     (368,080 )     (38,123 )     (208,736 )     (9,793 )     (217,883 )     (477,273 )     (1,157,867 )     (1,775,756 )     (42,133 )     (12,435 )
                                                                                 
Units Outstanding at December 31, 2013
     5,215,087       863,084       2,045,134       298,490       1,124,211       3,896,661       1,886,848       6,448,094       148,995       877,948  
 
(a) Commencement of operations April 29, 2013.
(b) Commencement of operations September 16, 2013.
 
See notes to the financial statements.
 
56
 
Jackson National Separate Account I
  
Statements of Changes in Net Assets
    
For the Year Ended December 31, 2013
 
   
Curian/The Boston Company Equity Income Fund
    
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund
    
Curian/UBS Global Long Short Fixed Income Opportunities Fund(a)
    
Curian/Urdang International REIT Fund(a)
    
Curian/Van Eck International Gold Fund
    
JNL Disciplined Growth Fund
    
JNL Disciplined Moderate Fund
    
JNL Disciplined Moderate Growth Fund
    
JNL Institutional Alt 20 Fund
    
JNL Institutional Alt 35 Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 124,819     $ (162,375 )   $ (28,875 )   $ 37,594     $ (70,511 )   $ (1,998,408 )   $ (816,220 )   $ (2,677,035 )   $ 9,132,723     $ 4,386,615  
   Net realized gain (loss) on investments
     2,413,667       (112,466 )     (12,144 )     5,083       (1,480,620 )     20,108,357       34,570,938       44,950,384       47,646,451       73,934,662  
   Net change in unrealized appreciation (depreciation) on investments
     1,114,881       111,222       (20,996 )     8,145       (3,976,675 )     61,216,577       89,361,587       141,529,615       120,726,003       143,005,705  
Net increase (decrease) in net assets from operations
     3,653,367       (163,619 )     (62,015 )     50,822       (5,527,806 )     79,326,526       123,116,305       183,802,964       177,505,177       221,326,982  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     16,339,144       11,020,291       5,682,463       2,488,854       9,899,022       118,338,187       166,462,238       228,805,956       213,212,531       287,428,868  
   Surrenders and terminations
     (484,514 )     (562,831 )     (148,267 )     (58,373 )     (263,347 )     (14,668,999 )     (38,866,460 )     (36,117,898 )     (56,720,302 )     (77,765,332 )
   Transfers between Investment Divisions
     5,774,979       (1,772,933 )     2,248,048       582,505       2,110,556       44,113,398       75,132,935       85,251,239       34,614,457       (43,207,915 )
   Contract owner charges (Note 3)
     (3,977 )     (7,462 )     (689 )     (106 )     (5,101 )     (4,464,669 )     (9,918,594 )     (11,033,891 )     (19,108,046 )     (26,535,398 )
Net increase (decrease) in net assets from contract transactions
     21,625,632       8,677,065       7,781,555       3,012,880       11,741,130       143,317,917       192,810,119       266,905,406       171,998,640       139,920,223  
                                                                                 
Net increase (decrease) in net assets
     25,278,999       8,513,446       7,719,540       3,063,702       6,213,324       222,644,443       315,926,424       450,708,370       349,503,817       361,247,205  
                                                                                 
Net assets beginning of period
     3,063,433       9,910,870       —       —       5,077,899       299,068,849       710,905,979       766,027,023       1,348,029,107       1,954,019,344  
                                                                                 
Net assets end of period
   $ 28,342,432     $ 18,424,316     $ 7,719,540     $ 3,063,702     $ 11,291,223     $ 521,713,292     $ 1,026,832,403     $ 1,216,735,393     $ 1,697,532,924     $ 2,315,266,549  
                                                                               
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     285,095       983,898       —       —       564,772       32,168,532       65,741,746       76,257,715       91,277,421       127,330,887  
                                                                                 
      Units Issued
     1,826,476       1,429,601       876,628       368,435       2,523,777       18,105,118       24,391,992       32,200,828       19,159,735       22,761,532  
      Units Redeemed
     (163,161 )     (548,436 )     (95,883 )     (37,931 )     (652,935 )     (4,407,323 )     (7,957,810 )     (8,348,166 )     (8,076,748 )     (14,031,041 )
                                                                                 
Units Outstanding at December 31, 2013
     1,948,410       1,865,063       780,745       330,504       2,435,614       45,866,327       82,175,928       100,110,377       102,360,408       136,061,378  
 
(a) Commencement of operations April 29, 2013.
 
See notes to the financial statements.
 
57
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
                                                             
   
JNL Institutional Alt 50 Fund
    
JNL Institutional Alt 65 Fund
    
JNL/American Funds Balanced Allocation Fund
    
JNL/American Funds Blue Chip Income and Growth Fund
    
JNL/American Funds Global Bond Fund
    
JNL/American Funds Global Small Capitalization Fund
    
JNL/American Funds Growth Allocation Fund
    
JNL/American Funds Growth-Income Fund
    
JNL/American Funds International Fund
    
JNL/American Funds New World Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (5,560,993 )   $ (4,011,612 )   $ (1,975,498 )   $ (2,669,669 )   $ 2,611,477     $ (1,936,876 )   $ (1,771,239 )   $ (7,397,370 )   $ (2,507,608 )   $ (4,726,739 )
   Net realized gain (loss) on investments
     73,443,579       27,652,605       3,324,391       31,297,829       293,404       7,987,966       3,710,694       42,532,410       9,176,732       9,106,550  
   Net change in unrealized appreciation (depreciation) on investments
     181,098,667       37,339,069       36,019,104       205,984,715       (23,165,003 )     50,677,047       35,729,585       281,743,138       70,190,657       44,475,309  
Net increase (decrease) in net assets from operations
     248,981,253       60,980,062       37,367,997       234,612,875       (20,260,122 )     56,728,137       37,669,040       316,878,178       76,859,781       48,855,120  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     454,440,576       (3,061 )     174,954,945       228,118,534       55,845,833       64,590,695       154,573,787       373,289,709       101,657,099       111,409,108  
   Surrenders and terminations
     (98,669,393 )     (34,931,751 )     (9,038,461 )     (32,377,292 )     (19,754,625 )     (8,475,458 )     (4,840,285 )     (44,584,807 )     (12,523,514 )     (15,327,017 )
   Transfers between Investment Divisions
     (76,401,819 )     (137,734,815 )     96,299,602       66,218,370       (23,062,259 )     13,881,308       71,910,994       113,208,299       29,606,881       35,536,464  
   Contract owner charges (Note 3)
     (36,246,370 )     (9,701,762 )     (3,111,483 )     (10,264,003 )     (4,756,553 )     (2,842,735 )     (2,244,609 )     (12,965,273 )     (4,632,973 )     (5,812,644 )
Net increase (decrease) in net assets from contract transactions
     243,122,994       (182,371,389 )     259,104,603       251,695,609       8,272,396       67,153,810       219,399,887       428,947,928       114,107,493       125,805,911  
                                                                                 
Net increase (decrease) in net assets
     492,104,247       (121,391,327 )     296,472,600       486,308,484       (11,987,726 )     123,881,947       257,068,927       745,826,106       190,967,274       174,661,031  
                                                                                 
Net assets beginning of period
     2,705,104,036       868,139,725       142,837,578       658,754,170       445,074,008       192,196,308       100,620,278       815,499,141       340,653,242       443,042,554  
                                                                                 
Net assets end of period
   $ 3,197,208,283     $ 746,748,398     $ 439,310,178     $ 1,145,062,654     $ 433,086,282     $ 316,078,255     $ 357,689,205     $ 1,561,325,247     $ 531,620,516     $ 617,703,585  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     173,523,092       54,074,762       13,849,024       58,871,135       40,202,262       18,876,084       9,734,050       71,036,826       32,462,317       40,339,639  
                                                                                 
      Units Issued
     36,613,812       264,449       25,696,083       25,265,200       10,804,974       8,847,738       21,460,211       43,974,589       13,717,555       16,858,238  
      Units Redeemed
     (21,623,795 )     (11,236,521 )     (2,058,038 )     (5,749,957 )     (10,113,815 )     (3,109,628 )     (2,146,511 )     (11,288,233 )     (3,759,864 )     (5,748,221 )
                                                                                 
Units Outstanding at December 31, 2013
     188,513,109       43,102,690       37,487,069       78,386,378       40,893,421       24,614,194       29,047,750       103,723,182       42,420,008       51,449,656  
 
See notes to the financial statements.
 
58
 
Jackson National Separate Account I
Statements of Changes in Net Assets
      
For the Year Ended December 31, 2013
  
 
   
JNL/AQR Managed Futures Strategy Fund
    
JNL/BlackRock Commodity Securities Strategy Fund
    
JNL/BlackRock Global Allocation Fund
    
JNL/BlackRock Large Cap Select Growth Fund
    
JNL/Brookfield Global Infrastructure Fund
    
JNL/Capital Guardian Global Balanced Fund
    
JNL/Capital Guardian Global Diversified Research Fund
    
JNL/DFA U.S. Core Equity Fund
    
JNL/Eagle SmallCap Equity Fund
    
JNL/Eastspring Investments Asia ex-Japan Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 1,971,806     $ (10,446,911 )   $ (17,189,878 )   $ (7,145,634 )   $ (1,337,135 )   $ 888,709     $ (913,300 )   $ (1,154,888 )   $ (13,319,397 )   $ (367,705 )
   Net realized gain (loss) on investments
     256,411       13,793,947       26,014,067       59,698,942       11,134,510       9,250,955       15,591,974       23,641,451       59,514,492       (1,642,690 )
   Net change in unrealized appreciation (depreciation) on investments
     772,727       66,596,159       238,074,708       106,302,358       35,563,171       44,931,108       55,516,585       50,568,008       179,519,345       (8,935,790 )
Net increase (decrease) in net assets from operations
     3,000,944       69,943,195       246,898,897       158,855,666       45,360,546       55,070,772       70,195,259       73,054,571       225,714,440       (10,946,185 )
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     48,842,938       108,203,892       718,979,044       37,643,609       128,699,260       39,106,443       25,233,072       67,611,752       153,682,703       16,768,834  
   Surrenders and terminations
     (1,418,400 )     (47,484,941 )     (73,912,492 )     (27,507,456 )     (7,309,591 )     (27,052,238 )     (20,363,163 )     (12,388,489 )     (43,888,611 )     (5,676,735 )
   Transfers between Investment Divisions
     4,775,889       (53,649,542 )     241,364,030       (12,037,952 )     130,100,045       2,489,610       1,287,485       63,333,510       92,256,271       (15,238,980 )
   Contract owner charges (Note 3)
     (22,602 )     (9,496,689 )     (23,329,203 )     (4,437,581 )     (2,053,018 )     (3,778,266 )     (3,059,732 )     (2,389,668 )     (9,344,324 )     (1,390,557 )
Net increase (decrease) in net assets from contract transactions
     52,177,825       (2,427,280 )     863,101,379       (6,339,380 )     249,436,696       10,765,549       3,097,662       116,167,105       192,706,039       (5,537,438 )
                                                                                 
Net increase (decrease) in net assets
     55,178,769       67,515,915       1,110,000,276       152,516,286       294,797,242       65,836,321       73,292,921       189,221,676       418,420,479       (16,483,623 )
                                                                                 
Net assets beginning of period
     20,519,911       891,760,261       1,525,570,362       444,454,611       100,565,052       394,420,593       329,409,224       181,722,508       712,882,647       140,464,249  
                                                                                 
Net assets end of period
   $ 75,698,680     $ 959,276,176     $ 2,635,570,638     $ 596,970,897     $ 395,362,294     $ 460,256,914     $ 402,702,145     $ 370,944,184     $ 1,131,303,126     $ 123,980,626  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     2,083,260       87,616,736       144,545,740       16,378,558       8,305,334       32,328,316       12,053,550       9,997,063       23,890,911       15,873,890  
                                                                                 
      Units Issued
     5,701,683       15,738,345       88,800,633       2,293,764       19,678,305       4,945,179       1,610,386       6,939,628       8,851,003       5,455,860  
      Units Redeemed
     (529,740 )     (16,153,882 )     (11,930,014 )     (2,676,845 )     (1,173,896 )     (4,144,291 )     (1,575,535 )     (1,730,772 )     (3,309,980 )     (6,207,886 )
                                                                                 
Units Outstanding at December 31, 2013
     7,255,203       87,201,199       221,416,359       15,995,477       26,809,743       33,129,204       12,088,401       15,205,919       29,431,934       15,121,864  
 
See notes to the financial statements.
 
59
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
JNL/Eastspring Investments China-India Fund
    
JNL/Franklin Templeton Founding Strategy Fund
    
JNL/Franklin Templeton Global Growth Fund
    
JNL/Franklin Templeton Global Multisector Bond Fund
    
JNL/Franklin Templeton Income Fund
    
JNL/Franklin Templeton International Small Cap Growth Fund
    
JNL/Franklin Templeton Mutual Shares Fund
    
JNL/Franklin Templeton Small Cap Value Fund
    
JNL/Goldman Sachs Core Plus Bond Fund
    
JNL/Goldman Sachs Emerging Markets Debt Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (1,937,768 )   $ 6,363,639     $ (188,737 )   $ 5,004,466     $ 34,720,183     $ (1,242,465 )   $ (2,805,778 )   $ (2,276,827 )   $ 7,944,342     $ 16,119,375  
   Net realized gain (loss) on investments
     (7,308,339 )     40,100,948       15,232,016       7,681,130       25,690,244       27,579,063       17,067,921       31,219,550       21,631,244       9,413,511  
   Net change in unrealized appreciation (depreciation) on investments
     (5,824,732 )     212,184,767       62,665,405       (6,049,945 )     94,734,418       57,180,201       95,285,914       87,764,621       (48,803,754 )     (53,289,445 )
Net increase (decrease) in net assets from operations
     (15,070,839 )     258,649,354       77,708,684       6,635,651       155,144,845       83,516,799       109,548,057       116,707,344       (19,228,168 )     (27,756,559 )
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     35,028,840       145,234,262       54,278,316       176,739,207       241,406,823       64,986,264       68,740,977       85,615,121       64,574,182       19,059,289  
   Surrenders and terminations
     (15,238,165 )     (93,669,280 )     (15,652,159 )     (23,171,947 )     (74,064,970 )     (16,191,205 )     (20,993,275 )     (20,139,190 )     (51,595,040 )     (14,689,156 )
   Transfers between Investment Divisions
     (19,105,818 )     16,087,872       96,219,678       146,936,885       119,608,138       48,466,601       15,014,417       59,041,149       (114,936,397 )     (52,657,470 )
   Contract owner charges (Note 3)
     (3,646,906 )     (12,512,198 )     (3,147,439 )     (4,720,171 )     (13,032,203 )     (3,079,851 )     (4,847,980 )     (4,070,625 )     (6,337,618 )     (2,715,209 )
Net increase (decrease) in net assets from contract transactions
     (2,962,049 )     55,140,656       131,698,396       295,783,974       273,917,788       94,181,809       57,914,139       120,446,455       (108,294,873 )     (51,002,546 )
                                                                                 
Net increase (decrease) in net assets
     (18,032,888 )     313,790,010       209,407,080       302,419,625       429,062,633       177,698,608       167,462,196       237,153,799       (127,523,041 )     (78,759,105 )
                                                                                 
Net assets beginning of period
     347,086,792       1,153,797,670       230,043,936       297,966,454       1,127,678,844       241,752,024       391,902,433       326,695,398       732,593,079       317,363,963  
                                                                                 
Net assets end of period
   $ 329,053,904     $ 1,467,587,680     $ 439,451,016     $ 600,386,079     $ 1,556,741,477     $ 419,450,632     $ 559,364,629     $ 563,849,197     $ 605,070,038     $ 238,604,858  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     46,689,948       119,513,314       26,252,753       25,535,422       92,341,143       28,647,061       43,186,639       23,244,036       29,455,873       21,400,333  
                                                                                 
      Units Issued
     11,963,639       19,222,234       19,047,542       35,682,636       32,600,945       17,003,439       10,534,140       12,449,696       5,459,913       1,756,296  
      Units Redeemed
     (12,679,026 )     (14,400,428 )     (6,305,541 )     (10,806,283 )     (11,747,932 )     (7,645,338 )     (4,970,168 )     (5,460,957 )     (10,163,004 )     (5,479,825 )
                                                                                 
Units Outstanding at December 31, 2013
     45,974,561       124,335,120       38,994,754       50,411,775       113,194,156       38,005,162       48,750,611       30,232,775       24,752,782       17,676,804  
 
See notes to the financial statements.
 
60
 
Jackson National Separate Account I
  
Statements of Changes in Net Assets
  
For the Year Ended December 31, 2013
      
 
   
JNL/Goldman Sachs Mid Cap Value Fund
    
JNL/Goldman Sachs U.S. Equity Flex Fund
    
JNL/Invesco Global Real Estate Fund
    
JNL/Invesco International Growth Fund
    
JNL/Invesco Large Cap Growth Fund
    
JNL/Invesco Mid Cap Value Fund
    
JNL/Invesco Small Cap Growth Fund
    
JNL/Ivy Asset Strategy Fund
    
JNL/JPMorgan International Value Fund
    
JNL/JPMorgan MidCap Growth Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (5,358,653 )   $ (2,098,456 )   $ 15,524,420     $ (1,463,475 )   $ (4,300,011 )   $ (3,054,917 )   $ (4,669,960 )   $ (1,924,432 )   $ 7,849,305     $ (4,852,877 )
   Net realized gain (loss) on investments
     126,028,382       13,441,736       27,478,554       13,691,528       48,151,374       12,264,801       30,325,183       55,014,337       2,895,306       24,125,262  
   Net change in unrealized appreciation (depreciation) on investments
     3,414,742       31,205,497       (42,281,980 )     58,231,039       86,022,557       48,869,585       80,654,472       433,114,750       55,687,693       105,591,939  
Net increase (decrease) in net asset from operations
     124,084,471       42,548,777       720,994       70,459,092       129,873,920       58,079,469       106,309,695       486,204,655       66,432,304       124,864,324  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     83,416,494       17,015,942       183,785,896       82,467,214       56,665,559       27,028,697       73,745,321       462,178,314       40,758,242       81,417,277  
   Surrenders and terminations
     (25,691,567 )     (8,535,139 )     (41,173,190 )     (23,504,101 )     (23,581,653 )     (13,974,335 )     (20,043,487 )     (90,749,404 )     (22,800,708 )     (19,923,361 )
   Transfers between Investment Divisions
     6,888,298       13,831,136       67,939,452       34,157,090       23,544,311       (11,797,492 )     98,768,335       124,954,986       46,145,457       59,272,401  
   Contract owner charges (Note 3)
     (4,849,488 )     (1,490,612 )     (8,479,280 )     (3,793,974 )     (3,757,117 )     (1,983,040 )     (3,224,258 )     (25,556,994 )     (3,110,666 )     (3,349,263 )
Net increase (decrease) in net assets from contract transactions
     59,763,737       20,821,327       202,072,878       89,326,229       52,871,100       (726,170 )     149,245,911       470,826,902       60,992,325       117,417,054  
                                                                                 
Net increase (decrease) in net assets
     183,848,208       63,370,104       202,793,872       159,785,321       182,745,020       57,353,299       255,555,606       957,031,557       127,424,629       242,281,378  
                                                                                 
Net assets beginning of period
     370,054,496       122,758,090       722,380,805       368,672,837       328,821,354       202,355,869       220,180,073       1,950,723,274       312,525,312       277,545,638  
                                                                                 
Net assets end of period
   $ 553,902,704     $ 186,128,194     $ 925,174,677     $ 528,458,158     $ 511,566,374     $ 259,709,168     $ 475,735,679     $ 2,907,754,831     $ 439,949,941     $ 519,827,016  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     26,395,237       13,715,059       49,884,889       21,338,781       26,084,620       10,391,288       12,723,050       165,395,239       24,333,822       11,186,133  
                                                                                 
      Units Issued
     10,472,261       5,117,292       22,280,330       8,726,687       9,430,928       2,195,063       11,269,241       51,690,285       8,429,151       6,129,768  
      Units Redeemed
     (6,697,687 )     (3,102,800 )     (9,279,772 )     (4,146,450 )     (6,063,340 )     (2,282,370 )     (4,082,181 )     (15,005,451 )     (4,140,297 )     (2,636,622 )
                                                                                 
Units Outstanding at December 31, 2013
     30,169,811       15,729,551       62,885,447       25,919,018       29,452,208       10,303,981       19,910,110       202,080,073       28,622,676       14,679,279  
 
See notes to the financial statements.
 
61
 
Jackson National Separate Account I
    
Statements of Changes in Net Assets
      
For the Year Ended December 31, 2013
      
 
   
JNL/JPMorgan U.S. Government & Quality Bond Fund
    
JNL/Lazard Emerging Markets Fund
    
JNL/M&G Global Basics Fund
    
JNL/M&G Global Leaders Fund(a)
    
JNL/MC 10 x 10 Fund
    
JNL/MC 25 Fund
    
JNL/MC Bond Index Fund
    
JNL/MC Communications Sector Fund
    
JNL/MC Consumer Brands Sector Fund
    
JNL/MC Dow 10 Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 10,211,685     $ (768,964 )   $ 426,520     $ (394,483 )   $ 1,967,899     $ 7,916,559     $ 2,811,929     $ 793,342     $ (2,884,269 )   $ (8,281,300 )
   Net realized gain (loss) on investments
     (625,327 )     17,938,342       1,945,455       8,134,717       15,267,682       84,016,235       1,312,570       6,167,762       37,302,112       47,149,563  
   Net change in unrealized appreciation (depreciation) on investments
     (44,654,145 )     (36,871,201 )     (520,193 )     (889,133 )     54,409,929       137,295,401       (28,859,307 )     11,020,311       74,799,297       91,323,336  
Net increase (decrease) in net assets from operations
     (35,067,787 )     (19,701,823 )     1,851,782       6,851,101       71,645,510       229,228,195       (24,734,808 )     17,981,415       109,217,140       130,191,599  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     59,639,039       21,165,940       5,872,599       5,548,930       33,580,440       108,185,991       58,462,084       21,835,530       83,732,914       45,070,992  
   Surrenders and terminations
     (53,384,454 )     (34,414,732 )     (2,853,149 )     (1,235,637 )     (16,706,588 )     (58,734,475 )     (44,786,993 )     (6,082,730 )     (20,089,342 )     (49,894,544 )
   Transfers between Investment Divisions
     (246,238,560 )     (83,235,484 )     (7,381,641 )     (49,595,066 )     (12,156,231 )     68,877,796       (52,882,086 )     1,886,874       109,425,688       (129,854 )
   Contract owner charges (Note 3)
     (5,969,078 )     (6,206,590 )     (687,330 )     (326,029 )     (3,006,267 )     (5,942,398 )     (4,508,865 )     (1,026,732 )     (3,494,851 )     (3,792,867 )
Net increase (decrease) in net assets from contract transactions
     (245,953,053 )     (102,690,866 )     (5,049,521 )     (45,607,802 )     1,711,354       112,386,914       (43,715,860 )     16,612,942       169,574,409       (8,746,273 )
                                                                                 
Net increase (decrease) in net assets
     (281,020,840 )     (122,392,689 )     (3,197,739 )     (38,756,701 )     73,356,864       341,615,109       (68,450,668 )     34,594,357       278,791,549       121,445,326  
                                                                                 
Net assets beginning of period
     825,483,488       714,703,864       65,953,400       38,756,701       278,793,866       601,581,156       594,553,333       92,759,523       215,722,874       462,836,482  
                                                                                 
Net assets end of period
   $ 544,462,648     $ 592,311,175     $ 62,755,661     $ —     $ 352,150,730     $ 943,196,265     $ 526,102,665     $ 127,353,880     $ 494,514,423     $ 584,281,808  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     40,223,450       51,917,193       4,866,922       3,136,044       29,122,596       34,601,524       42,018,066       15,048,511       15,046,368       43,453,852  
                                                                                 
      Units Issued
     8,270,206       2,531,298       922,655       1,150,424       4,348,506       11,882,683       8,068,660       9,148,899       15,597,324       9,392,958  
      Units Redeemed
     (20,817,223 )     (10,436,728 )     (1,291,407 )     (4,286,468 )     (4,259,973 )     (6,359,785 )     (11,463,107 )     (6,999,947 )     (6,052,251 )     (10,299,395 )
                                                                                 
Units Outstanding at December 31, 2013
     27,676,433       44,011,763       4,498,170       —       29,211,129       40,124,422       38,623,619       17,197,463       24,591,441       42,547,415  
 
(a) The period is from January 1, 2013 through acquisition September 13, 2013.
 
See notes to the financial statements.
 
62
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
JNL/MC Dow Dividend Fund(a)
    
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund
    
JNL/MC Emerging Markets Index Fund
    
JNL/MC European 30 Fund
    
JNL/MC Financial Sector Fund
    
JNL/MC Global 15 Fund
    
JNL/MC Global Alpha Fund
    
JNL/MC Healthcare Sector Fund
    
JNL/MC Index 5 Fund
    
JNL/MC International Index Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 7,198,348     $ (234,389 )   $ (1,958,174 )   $ 42,873     $ (2,164,501 )   $ (6,545,555 )   $ (645,577 )   $ (5,438,253 )   $ 498,363     $ 6,727,965  
   Net realized gain (loss) on investments
     51,944,801       2,004,528       21,664       1,540,024       25,614,569       30,739,229       (371,275 )     51,039,394       28,386,980       12,399,484  
   Net change in unrealized appreciation (depreciation) on investments
     (4,263,792 )     6,547,093       (13,402,516 )     14,271,884       61,331,624       22,030,291       (291,359 )     162,100,959       84,031,513       89,845,662  
Net increase (decrease) in net assets from operations
     54,879,357       8,317,232       (15,339,026 )     15,854,781       84,781,692       46,223,965       (1,308,211 )     207,702,100       112,916,856       108,973,111  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     36,970,758       12,244,594       90,542,677       24,770,586       74,862,583       19,350,693       9,347,862       183,868,662       69,272,047       94,559,063  
   Surrenders and terminations
     (17,278,061 )     (1,793,044 )     (10,730,962 )     (2,235,982 )     (19,624,443 )     (48,139,347 )     (2,154,337 )     (37,545,379 )     (23,051,431 )     (41,158,935 )
   Transfers between Investment Divisions
     (429,376,544 )     36,443,258       114,325,813       67,911,157       85,058,542       (22,759,922 )     (5,818,072 )     232,900,797       3,609,095       53,256,834  
   Contract owner charges (Note 3)
     (2,528,930 )     (302,284 )     (2,831,696 )     (550,012 )     (3,289,915 )     (2,113,833 )     (377,231 )     (6,718,070 )     (6,021,892 )     (4,627,585 )
Net increase (decrease) in net assets from contract transactions
     (412,212,777 )     46,592,524       191,305,832       89,895,749       137,006,767       (53,662,409 )     998,222       372,506,010       43,807,819       102,029,377  
                                                                                 
Net increase (decrease) in net assets
     (357,333,420 )     54,909,756       175,966,806       105,750,530       221,788,459       (7,438,444 )     (309,989 )     580,208,110       156,724,675       211,002,488  
                                                                                 
Net assets beginning of period
     357,333,420       6,762,214       208,650,359       28,206,333       216,488,446       419,858,116       46,258,808       405,053,630       492,250,212       519,992,878  
                                                                                 
Net assets end of period
   $ —     $ 61,671,970     $ 384,617,165     $ 133,956,863     $ 438,276,905     $ 412,419,672     $ 45,948,819     $ 985,261,740     $ 648,974,887     $ 730,995,366  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     45,878,539       668,992       19,952,612       2,404,949       26,844,565       27,156,260       4,586,908       27,467,976       47,204,673       33,781,381  
                                                                                 
      Units Issued
     8,038,505       5,337,592       24,704,257       7,468,052       24,124,385       3,144,131       1,212,003       27,189,831       9,774,480       10,830,868  
      Units Redeemed
     (53,917,044 )     (1,556,087 )     (5,717,142 )     (1,000,966 )     (9,760,068 )     (6,493,918 )     (1,128,226 )     (6,822,459 )     (5,946,167 )     (5,063,633 )
                                                                                 
Units Outstanding at December 31, 2013
     —       4,450,497       38,939,727       8,872,035       41,208,882       23,806,473       4,670,685       47,835,348       51,032,986       39,548,616  
 
(a) The period is from January 1, 2013 through acquisition September 13, 2013.
 
See notes to the financial statements.
 
63
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
JNL/MC JNL 5 Fund
    
JNL/MC JNL Optimized 5 Fund
    
JNL/MC Nasdaq 25 Fund
    
JNL/MC NYSE International 25 Fund
    
JNL/MC Oil & Gas Sector Fund
    
JNL/MC Pacific Rim 30 Fund
    
JNL/MC S&P 10 Fund(a)
    
JNL/MC S&P 24 Fund
    
JNL/MC S&P 400 MidCap Index Fund
    
JNL/MC S&P 500 Index Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 30,177,038     $ 4,799,503     $ (1,960,529 )   $ 1,334,179     $ (2,908,952 )   $ 1,917,029     $ (2,902,573 )   $ 562,867     $ (5,697,497 )   $ (832,956 )
   Net realized gain (loss) on investments
     64,768,786       10,843,594       30,345,982       (2,536,762 )     53,420,713       2,816,422       33,838,227       13,038,395       71,815,659       95,491,062  
   Net change in unrealized appreciation (depreciation) on investments
     661,671,656       80,850,607       67,945,137       14,047,591       150,331,891       897,594       3,639,234       53,504,222       153,632,211       357,604,602  
Net increase (decrease) in net assets from operations
     756,617,480       96,493,704       96,330,590       12,845,008       200,843,652       5,631,045       34,574,888       67,105,484       219,750,373       452,262,708  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     106,495,935       15,140,886       46,979,397       7,144,467       135,801,573       17,815,530       8,196,121       12,216,251       160,404,792       330,838,479  
   Surrenders and terminations
     (298,912,028 )     (28,124,850 )     (17,575,217 )     (4,166,975 )     (57,572,954 )     (3,303,622 )     (22,191,031 )     (13,896,775 )     (55,767,367 )     (114,073,140 )
   Transfers between Investment Divisions
     (144,550,494 )     (24,157,542 )     22,393,894       (12,789,041 )     (7,554,764 )     18,130,412       (284,533,928 )     264,311,151       165,646,696       420,611,654  
   Contract owner charges (Note 3)
     (17,940,385 )     (2,821,602 )     (2,635,789 )     (533,939 )     (9,666,005 )     (763,103 )     (870,218 )     (1,233,324 )     (6,999,438 )     (14,743,948 )
Net increase (decrease) in net assets from contract transactions
     (354,906,972 )     (39,963,108 )     49,162,285       (10,345,488 )     61,007,850       31,879,217       (299,399,056 )     261,397,303       263,284,683       622,633,045  
                                                                                 
Net increase (decrease) in net assets
     401,710,508       56,530,596       145,492,875       2,499,520       261,851,502       37,510,262       (264,824,168 )     328,502,787       483,035,056       1,074,895,753  
                                                                                 
Net assets beginning of period
     2,718,583,763       340,857,655       239,760,325       71,565,169       841,333,051       53,928,364       264,824,168       63,316,970       607,048,491       1,285,268,988  
                                                                                 
Net assets end of period
   $ 3,120,294,271     $ 397,388,251     $ 385,253,200     $ 74,064,689     $ 1,103,184,553     $ 91,438,626     $ —     $ 391,819,757     $ 1,090,083,547     $ 2,360,164,741  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     219,540,023       35,365,061       18,134,020       10,481,364       25,822,105       3,883,957       29,602,328       5,802,155       32,654,324       103,714,160  
                                                                                 
      Units Issued
     11,134,384       3,166,644       8,749,956       2,589,511       7,138,374       3,668,281       2,713,801       23,160,904       18,335,198       63,422,068  
      Units Redeemed
     (36,910,851 )     (6,929,802 )     (5,992,306 )     (4,155,514 )     (5,719,780 )     (1,623,720 )     (32,316,129 )     (2,983,706 )     (6,416,477 )     (20,452,775 )
                                                                                 
Units Outstanding at December 31, 2013
     193,763,556       31,601,903       20,891,670       8,915,361       27,240,699       5,928,518       —       25,979,353       44,573,045       146,683,453  
 
(a) The period is from January 1, 2013 through acquisition September 13, 2013.
 
See notes to the financial statements.
 
64
 
Jackson National Separate Account I
  
Statements of Changes in Net Assets
  
For the Year Ended December 31, 2013
 
   
JNL/MC S&P SMid 60 Fund
    
JNL/MC Select Small-Cap Fund(b)
    
JNL/MC Small Cap Index Fund
    
JNL/MC Technology Sector Fund
    
JNL/MC Utilities Sector Fund(a)
    
JNL/MC Value Line 30 Fund
    
JNL/MC VIP Fund(b)
    
JNL/Morgan Stanley Mid Cap Growth Fund
    
JNL/Neuberger Berman Strategic Income Fund
    
JNL/Oppenheimer Global Growth Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 535,041     $ 589,700     $ (2,111,832 )   $ (3,617,958 )   $ 54,438     $ 1,311,035     $ 2,983,761     $ (464,340 )   $ (1,404,273 )   $ (2,262,742 )
   Net realized gain (loss) on investments
     17,604,202       35,905,401       91,578,750       18,220,106       (5,370 )     (711,126 )     21,092,617       1,816,220       407,441       16,559,950  
   Net change in unrealized appreciation (depreciation) on investments
     53,300,934       10,402,796       150,683,627       87,052,532       (35,868 )     106,750,012       17,113,896       8,075,791       (1,184,534 )     89,965,561  
Net increase (decrease) in net assets from operations
     71,440,177       46,897,897       240,150,545       101,654,680       13,200       107,349,921       41,190,274       9,427,671       (2,181,366 )     104,262,769  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     51,124,415       11,026,730       111,393,142       69,063,206       2,436,674       16,018,011       6,109,342       19,091,567       50,200,925       75,733,016  
   Surrenders and terminations
     (14,388,164 )     (19,845,436 )     (59,575,213 )     (22,700,600 )     (27,400 )     (43,035,647 )     (16,751,835 )     (1,220,285 )     (5,182,992 )     (25,933,196 )
   Transfers between Investment Divisions
     40,469,673       (288,108,460 )     321,554,757       24,497,958       554,097       (27,705,054 )     (260,444,306 )     20,842,975       25,159,176       75,933,031  
   Contract owner charges (Note 3)
     (2,084,820 )     (893,971 )     (5,788,295 )     (4,507,343 )     (256 )     (2,339,851 )     (953,295 )     (333,225 )     (1,127,813 )     (4,388,195 )
Net increase (decrease) in net assets from contract transactions
     75,121,104       (297,821,137 )     367,584,391       66,353,221       2,963,115       (57,062,541 )     (272,040,094 )     38,381,032       69,049,296       121,344,656  
                                                                                 
Net increase (decrease) in net assets
     146,561,281       (250,923,240 )     607,734,936       168,007,901       2,976,315       50,287,380       (230,849,820 )     47,808,703       66,867,930       225,607,425  
                                                                                 
Net assets beginning of period
     181,031,361       250,923,240       559,726,962       393,846,584       —       357,999,234       230,849,820       11,507,693       66,681,136       375,827,906  
                                                                                 
Net assets end of period
   $ 327,592,642     $ —     $ 1,167,461,898     $ 561,854,485     $ 2,976,315     $ 408,286,614     $ —     $ 59,316,396     $ 133,549,066     $ 601,435,331  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     15,482,587       17,075,434       34,611,596       53,037,859       —       35,092,355       19,596,647       1,212,452       6,392,609       25,291,835  
                                                                                 
      Units Issued
     9,757,167       1,846,398       26,132,107       18,431,916       348,175       3,042,028       795,958       4,323,776       10,296,072       10,432,417  
      Units Redeemed
     (4,524,611 )     (18,921,832 )     (8,060,611 )     (10,878,092 )     (35,920 )     (8,099,255 )     (20,392,605 )     (927,733 )     (3,681,587 )     (3,242,716 )
                                                                                 
Units Outstanding at December 31, 2013
     20,715,143       —       52,683,092       60,591,683       312,255       30,035,128       —       4,608,495       13,007,094       32,481,536  
 
(a) Commencement of operations April 29, 2013.
(b) The period is from January 1, 2013 through acquisition September 13, 2013.
 
See notes to the financial statements.
 
65
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
JNL/PIMCO Real Return Fund
    
JNL/PIMCO Total Return Bond Fund
    
JNL/PPM America Floating Rate Income Fund
    
JNL/PPM America High Yield Bond Fund
    
JNL/PPM America Mid Cap Value Fund
    
JNL/PPM America Small Cap Value Fund
    
JNL/PPM America Value Equity Fund
    
JNL/Red Rocks Listed Private Equity Fund
    
JNL/S&P 4 Fund
    
JNL/S&P Competitive Advantage Fund
  
Operations
                                                            
   Net investment income (loss)
   $ (6,763,096 )   $ (16,038,890 )   $ 5,061,312     $ 68,975,392     $ (1,836,127 )   $ (1,521,870 )   $ (309,105 )   $ 31,025,581     $ (13,040,488 )   $ (3,759,792 )
   Net realized gain (loss) on investments
     102,147,913       5,611,186       4,348,691       79,666,231       15,801,956       21,073,715       12,328,224       14,702,141       163,917,753       60,796,991  
   Net change in unrealized appreciation (depreciation) on investments
     (300,792,321 )     (139,002,070 )     7,438,543       (57,195,824 )     48,795,630       19,978,161       33,429,102       91,965,922       475,463,072       88,603,651  
Net increase (decrease) in net assets from operations
     (205,407,504 )     (149,429,774 )     16,848,546       91,445,799       62,761,459       39,530,006       45,448,221       137,693,644       626,340,337       145,640,850  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     211,962,764       516,444,069       328,040,490       225,908,872       40,990,736       22,196,232       12,681,946       63,654,831       573,088,799       77,124,683  
   Surrenders and terminations
     (111,312,766 )     (264,179,903 )     (39,880,669 )     (92,979,984 )     (10,912,018 )     (6,537,322 )     (12,736,883 )     (18,351,523 )     (98,374,751 )     (23,559,321 )
   Transfers between Investment Divisions
     (694,251,281 )     (899,639,600 )     500,557,987       (2,944,094 )     49,445,897       42,146,073       13,676,119       (30,906,259 )     621,925,793       127,852,173  
   Contract owner charges (Note 3)
     (17,248,396 )     (37,244,745 )     (6,005,603 )     (12,677,041 )     (1,941,364 )     (1,412,174 )     (1,021,237 )     (3,724,603 )     (17,806,229 )     (4,074,958 )
Net increase (decrease) in net assets from contract transactions
     (610,849,679 )     (684,620,179 )     782,712,205       117,307,753       77,583,251       56,392,809       12,599,945       10,672,446       1,078,833,612       177,342,577  
                                                                                 
Net increase (decrease) in net assets
     (816,257,183 )     (834,049,953 )     799,560,751       208,753,552       140,344,710       95,922,815       58,048,166       148,366,090       1,705,173,949       322,983,427  
                                                                                 
Net assets beginning of period
     2,175,078,995       4,251,064,074       278,372,496       1,362,795,543       115,388,032       94,059,329       112,313,637       346,531,159       1,217,211,551       293,492,476  
                                                                                 
Net assets end of period
   $ 1,358,821,812     $ 3,417,014,121     $ 1,077,933,247     $ 1,571,549,095     $ 255,732,742     $ 189,982,144     $ 170,361,803     $ 494,897,249     $ 2,922,385,500     $ 616,475,903  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     146,137,914       215,752,478       26,437,899       75,591,291       10,587,267       8,512,443       6,164,133       32,793,714       97,618,836       21,654,308  
                                                                                 
      Units Issued
     20,432,103       32,972,199       83,010,363       38,661,380       14,569,700       9,781,507       2,936,898       5,310,831       83,754,898       17,044,234  
      Units Redeemed
     (64,892,099 )     (70,300,457 )     (9,920,655 )     (33,147,024 )     (8,317,424 )     (5,572,089 )     (2,392,570 )     (4,712,912 )     (16,250,651 )     (6,414,526 )
                                                                                 
Units Outstanding at December 31, 2013
     101,677,918       178,424,220       99,527,607       81,105,647       16,839,543       12,721,861       6,708,461       33,391,633       165,123,083       32,284,016  
 
See notes to the financial statements.
 
66
 
Jackson National Separate Account I
Statements of Changes in Net Assets
For the Year Ended December 31, 2013
 
   
JNL/S&P Dividend Income & Growth Fund
    
JNL/S&P Intrinsic Value Fund
    
JNL/S&P Managed Aggressive Growth Fund
    
JNL/S&P Managed Conservative Fund
    
JNL/S&P Managed Growth Fund
    
JNL/S&P Managed Moderate Fund
    
JNL/S&P Managed Moderate Growth Fund
    
JNL/S&P Total Yield Fund
    
JNL/T. Rowe Price Established Growth Fund
    
JNL/T. Rowe Price Mid-Cap Growth Fund
  
Operations
                                                            
   Net investment income (loss)
   $ 4,429,152     $ (1,575,567 )   $ (8,908,591 )   $ (15,932,094 )   $ (20,785,358 )   $ (30,083,674 )   $ (49,810,686 )   $ (679,955 )   $ (22,649,368 )   $ (26,929,642 )
   Net realized gain (loss) on investments
     99,880,772       59,034,688       47,070,610       26,505,688       97,286,381       51,965,028       99,749,994       38,409,710       167,428,179       198,630,750  
   Net change in unrealized appreciation (depreciation) on investments
     194,431,826       89,040,640       216,258,862       34,922,269       597,622,486       220,517,650       616,087,032       45,625,350       366,843,323       355,896,318  
Net increase (decrease) in net assets from operations
     298,741,750       146,499,761       254,420,881       45,495,863       674,123,509       242,399,004       666,026,340       83,355,105       511,622,134       527,597,426  
                                                                                 
Contract transactions 1
                                                                                
   Purchase payments (Note 4)
     192,860,576       82,930,415       205,159,128       174,269,059       510,166,344       385,277,264       655,461,101       41,474,732       244,622,091       257,611,274  
   Surrenders and terminations
     (65,444,751 )     (25,090,784 )     (54,761,466 )     (130,352,585 )     (177,353,472 )     (171,120,434 )     (246,452,590 )     (14,133,583 )     (93,307,393 )     (96,961,818 )
   Transfers between Investment Divisions
     545,329,067       175,261,943       43,839,410       (192,377,409 )     192,431,068       (25,991,445 )     139,470,359       140,937,089       45,615,771       17,906,830  
   Contract owner charges (Note 3)
     (12,630,159 )     (4,216,351 )     (11,047,449 )     (17,317,116 )     (35,746,936 )     (31,114,282 )     (53,290,285 )     (2,206,025 )     (14,081,951 )     (17,107,896 )
Net increase (decrease) in net assets from contract transactions
     660,114,733       228,885,223       183,189,623       (165,778,051 )     489,497,004       157,051,103       495,188,585       166,072,213       182,848,518       161,448,390  
                                                                                 
Net increase (decrease) in net assets
     958,856,483       375,384,984       437,610,504       (120,282,188 )     1,163,620,513       399,450,107       1,161,214,925       249,427,318       694,470,652       689,045,816  
                                                                                 
Net assets beginning of period
     822,731,477       230,391,627       988,005,021       1,688,160,049       3,014,830,685       2,671,615,114       4,454,811,297       112,891,002       1,325,286,320       1,472,006,525  
                                                                                 
Net assets end of period
   $ 1,781,587,960     $ 605,776,611     $ 1,425,615,525     $ 1,567,877,861     $ 4,178,451,198     $ 3,071,065,221     $ 5,616,026,222     $ 362,318,320     $ 2,019,756,972     $ 2,161,052,341  
                                                                                 
1 Contract unit transactions
                                                                                
Units Outstanding at December 31, 2012
     66,372,579       17,948,593       62,718,514       130,694,974       184,989,723       197,840,305       272,199,349       10,414,822       39,722,692       28,526,725  
                                                                                 
      Units Issued
     58,016,397       23,447,785       18,511,430       22,961,624       43,995,736       36,275,854       52,204,365       20,128,960       11,631,161       7,315,746  
      Units Redeemed
     (12,923,557 )     (9,468,494 )     (8,378,267 )     (35,979,749 )     (17,025,805 )     (25,446,124 )     (24,466,714 )     (8,191,155 )     (7,353,579 )     (4,878,213 )
                                                                                 
Units Outstanding at December 31, 2013
     111,465,419       31,927,884       72,851,677       117,676,849       211,959,654       208,670,035       299,937,000       22,352,627       44,000,274       30,964,258  
 
See notes to the financial statements.
 
67
 
Jackson National Separate Account I
              
Statements of Changes in Net Assets
        
For the Year Ended December 31, 2013
              
 
   
JNL/T. Rowe Price Short-Term Bond Fund
    
JNL/T. Rowe Price Value Fund
    
JNL/WMC Balanced Fund
    
JNL/WMC Money Market Fund
    
JNL/WMC Value Fund
  
Operations
                              
   Net investment income (loss)
   $ (1,177,546 )   $ (1,624,475 )   $ 1,006,582     $ (19,535,789 )   $ 2,328,801  
   Net realized gain (loss) on investments
     660,124       92,012,252       108,397,347       5,275       49,895,962  
   Net change in unrealized appreciation (depreciation) on investments
     (8,946,638 )     138,051,048       327,407,297       —       81,300,656  
Net increase (decrease) in net assets from operations
     (9,464,060 )     228,438,825       436,811,226       (19,530,514 )     133,525,419  
                                         
Contract transactions 1
                                        
   Purchase payments (Note 4)
     143,562,840       155,966,744       469,331,859       784,446,124       66,239,894  
   Surrenders and terminations
     (47,130,469 )     (49,217,851 )     (143,123,136 )     (244,777,529 )     (30,425,139 )
   Transfers between Investment Divisions
     (30,454,671 )     70,246,358       165,322,955       (433,025,095 )     43,412,757  
   Contract owner charges (Note 3)
     (6,307,991 )     (6,430,787 )     (28,076,837 )     (14,137,555 )     (4,575,200 )
Net increase (decrease) in net assets from contract transactions
     59,669,709       170,564,464       463,454,841       92,505,945       74,652,312  
                                         
Net increase (decrease) in net assets
     50,205,649       399,003,289       900,266,067       72,975,431       208,177,731  
                                         
Net assets beginning of period
     647,090,687       570,473,227       2,294,283,336       1,195,107,544       430,498,430  
                                         
Net assets end of period
   $ 697,296,336     $ 969,476,516     $ 3,194,549,403     $ 1,268,082,975     $ 638,676,161  
                                         
1 Contract unit transactions
                                        
Units Outstanding at December 31, 2012
     61,301,432       34,539,227       73,603,848       97,906,679       19,603,130  
                                         
      Units Issued
     28,892,662       18,395,134       19,795,408       123,607,118       6,532,196  
      Units Redeemed
     (23,363,885 )     (9,781,720 )     (6,679,929 )     (116,930,791 )     (3,638,151 )
                                         
Units Outstanding at December 31, 2013
     66,830,209       43,152,641       86,719,327       104,583,006       22,497,175  
 
See notes to the financial statements.
 
68
 
Jackson National Separate Account I
Notes to Financial Statements
December 31, 2014
 
Note 1 – Organization

Jackson National Life Insurance Company (“Jackson”) established Jackson National Separate Account I (the “Separate Account”) on June 14, 1993. The Separate Account commenced operations on October 16, 1995, and is a unit investment trust registered with the Securities Exchange Commission (the “SEC”) under the Investment Company Act of 1940.

The Separate Account is a separate investment account of Jackson, its assets legally belong to Jackson and the obligations under the contracts are the obligation of Jackson. However, the contract assets in the Separate Account are not chargeable with liabilities arising out of any other business Jackson may conduct.

The Separate Account receives and invests, based on the directions of the contract owners, net premiums for individual flexible premium variable annuity contracts issued by Jackson. The contracts can be purchased on a non-tax qualified basis or in connection with certain plans qualifying for favorable federal income tax treatment. The Separate Account contained one-hundred sixty-nine (169) Investment Divisions during 2014, but currently contains one-hundred sixty-six (166) Investment Divisions as of December 31, 2014. These Investment Divisions each invested in Class A of the following mutual funds (collectively, the “Funds”) during the year ended December 31, 2014:
 
Curian Variable Series Trust
CG - Alt 100 Conservative Fund(1)(4)(5)
CG - Tactical Moderate Growth Fund(1)(4)
Curian/DoubleLine Total Return Fund
CG - Alt 100 Growth Fund(1)(4)(5)
Curian Dynamic Risk Advantage – Diversified Fund
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund
CG - Alt 100 Moderate Fund(1)(4)(5)
Curian Dynamic Risk Advantage – Growth Fund
Curian/Epoch Global Shareholder Yield Fund
CG - Conservative Fund(1)(4)
Curian Dynamic Risk Advantage – Income Fund
Curian/FAMCO Flex Core Covered Call Fund
CG - Equity 100 Fund(1)(4)
Curian Focused International Equity Fund
Curian/Franklin Templeton Frontier Markets Fund
CG - Equity Income Fund(1)(4)
Curian Focused U.S. Equity Fund
Curian/Franklin Templeton Natural Resources Fund
CG - Fixed Income 100 Fund(1)(4)
Curian Long Short Credit Fund(2)
Curian/Lazard International Strategic Equity Fund
CG - Growth Fund(1)(4)
Curian Tactical Advantage 35 Fund
Curian/Neuberger Berman Currency Fund
CG - Institutional Alt 65 Fund(1)(4)
Curian Tactical Advantage 60 Fund
Curian/Neuberger Berman Risk Balanced Commodity Strategy Fund
CG - Interest Rate Opportunities Fund(1)(4)
Curian Tactical Advantage 75 Fund
Curian/Nicholas Convertible Arbitrage Fund
CG - International Conservative Fund(1)(4)(5)
Curian/Aberdeen Latin America Fund
Curian/PIMCO Credit Income Fund
CG - International Growth Fund(1)(4)(5)
Curian/American FundsÒ Global Growth Fund
Curian/PineBridge Merger Arbitrage Fund
CG - International Moderate Fund(1)(4)(5)
Curian/American FundsÒ Growth Fund
Curian/Schroder Emerging Europe Fund
CG - Maximum Growth Fund(1)(4)
Curian/AQR Risk Parity Fund
Curian/T. Rowe Price Capital Appreciation Fund
CG - Moderate Fund(1)(4)
Curian/Ashmore Emerging Market Small Cap Equity Fund
Curian/The Boston Company Equity Income Fund
CG - Moderate Growth Fund(1)(4)
Curian/Baring International Fixed Income Fund
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund(6)
CG - Multi-Strategy Income Fund(1)(4)
Curian/BlackRock Global Long Short Credit Fund
Curian/UBS Global Long Short Fixed Income Opportunities Fund
CG - Real Assets Fund(1)(4)
Curian/CenterSquare International Real Estate Securities Fund(5)
Curian/Van Eck International Gold Fund
CG - Tactical Maximum Growth Fund(1)(4)
Curian/DFA U.S. Micro Cap Fund
  

69
 
Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014
 
Note 1 – Organization (continued)
 
  JNL Series Trust
JNL Disciplined Growth Fund(1)
JNL/Franklin Templeton Mutual Shares Fund
JNL/Morgan Stanley Mid Cap Growth Fund
JNL Disciplined Moderate Fund(1)
JNL/Franklin Templeton Small Cap Value Fund
JNL/Neuberger Berman Strategic Income Fund
JNL Disciplined Moderate Growth Fund(1)
JNL/Goldman Sachs Core Plus Bond Fund
JNL/Oppenheimer Global Growth Fund
JNL Institutional Alt 20 Fund(1)
JNL/Goldman Sachs Emerging Markets Debt Fund
JNL/PIMCO Real Return Fund
JNL Institutional Alt 35 Fund(1)
JNL/Goldman Sachs Mid Cap Value Fund
JNL/PIMCO Total Return Bond Fund
JNL Institutional Alt 50 Fund(1)
JNL/Goldman Sachs U.S. Equity Flex Fund
JNL/PPM America Floating Rate Income Fund(2)
JNL Institutional Alt 65 Fund(1)(7)
JNL/Invesco Global Real Estate Fund
JNL/PPM America High Yield Bond Fund(2)
JNL/Alliance Bernstein Dynamic Asset Allocation Fund
JNL/Invesco International Growth Fund
JNL/PPM America Mid Cap Value Fund(2)
JNL/American Funds Balanced Allocation Fund(1)
JNL/Invesco Large Cap Growth Fund
JNL/PPM America Small Cap Value Fund(2)
JNL/American Funds Blue Chip Income and Growth Fund
JNL/Invesco Mid Cap Value Fund
JNL/PPM America Value Equity Fund(2)
JNL/American Funds Global Bond Fund
JNL/Invesco Small Cap Growth Fund
JNL/Red Rocks Listed Private Equity Fund
JNL/American Funds Global Small Capitalization Fund
JNL/Ivy Asset Strategy Fund
JNL/S&P 4 Fund(1)
JNL/American Funds Growth Allocation Fund(1)
JNL/JPMorgan International Value Fund
JNL/S&P Competitive Advantage Fund
JNL/American Funds Growth-Income Fund
JNL/JPMorgan MidCap Growth Fund
JNL/S&P Dividend Income & Growth Fund
JNL/American Funds International Fund
JNL/JPMorgan U.S. Government & Quality Bond Fund
JNL/S&P International 5 Fund
JNL/American Funds New World Fund
JNL/Lazard Emerging Markets Fund
JNL/S&P Intrinsic Value Fund
JNL/AQR Managed Futures Strategy Fund
JNL/M&G Global Basics Fund(2)(6)
JNL/S&P Managed Aggressive Growth Fund
JNL/BlackRock Commodity Securities Strategy Fund
JNL/MC 10 x 10 Fund(1) (3)
JNL/S&P Managed Conservative Fund
JNL/BlackRock Global Allocation Fund
JNL/MC Bond Index Fund(3)
JNL/S&P Managed Growth Fund
JNL/BlackRock Large Cap Select Growth Fund
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund(3)
JNL/S&P Managed Moderate Fund
JNL/Boston Partners Global Long Short Equity Fund
JNL/MC Emerging Markets Index Fund(3)
JNL/S&P Managed Moderate Growth Fund
JNL/Brookfield Global Infrastructure and MLP Fund(5)
JNL/MC European 30 Fund(3)
JNL/S&P Mid 3 Fund
JNL/Capital Guardian Global Balanced Fund
JNL/MC Global Alpha Fund(3)
JNL/S&P Total Yield Fund
JNL/Capital Guardian Global Diversified Research Fund
JNL/MC Index 5 Fund(1) (3)
JNL/Scout Unconstrained Bond Fund
JNL/DFA U.S. Core Equity Fund
JNL/MC International Index Fund(3)
JNL/T. Rowe Price Established Growth Fund
JNL/Eagle SmallCap Equity Fund
JNL/MC Pacific Rim 30 Fund(3)
JNL/T. Rowe Price Mid-Cap Growth Fund
JNL/Eastspring Investments Asia ex-Japan Fund(2)
JNL/MC S&P 400 MidCap Index Fund(3)
JNL/T. Rowe Price Short-Term Bond Fund
JNL/Eastspring Investments China-India Fund(2)
JNL/MC S&P 500 Index Fund(3)
JNL/T. Rowe Price Value Fund
JNL/Franklin Templeton Founding Strategy Fund(1)
JNL/MC Small Cap Index Fund(3)
JNL/WMC Balanced Fund
JNL/Franklin Templeton Global Growth Fund
JNL/MC Utilities Sector Fund(3)
JNL/WMC Money Market Fund
JNL/Franklin Templeton Global Multisector Bond Fund
JNL/MMRS Conservative Fund
JNL/WMC Value Fund
JNL/Franklin Templeton Income Fund
JNL/MMRS Growth Fund
  
JNL/Franklin Templeton International Small Cap Growth Fund
JNL/MMRS Moderate Fund
  
 
70
 
Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014
 
Note 1 – Organization (continued)
 
  JNL Variable Fund LLC
JNL/MC 25 Fund(3)
JNL/MC Healthcare Sector Fund(3)
JNL/MC S&PÒ 24 Fund(3)
JNL/MC Communications Sector Fund(3)(7)
JNL/MC JNL 5 Fund(3)
JNL/MC S&PÒ SMid 60 Fund(3)
JNL/MC Consumer Brands Sector Fund(3)
JNL/MC JNL Optimized 5 Fund(3)
JNL/MC Technology Sector Fund(3)
JNL/MC Dow SM 10 Fund(3)
JNL/MC NasdaqÒ 25 Fund(3)
JNL/MC Value Line  30 Fund(3)
JNL/MC Financial Sector Fund(3)
JNL/MC NYSEÒ International 25 Fund(3)(6)
  
JNL/MC Global 15 Fund(3)
JNL/MC Oil & Gas Sector Fund(3)
  
 
Jackson National Asset Management, LLC (“JNAM”) serves as investment adviser for the Funds comprising the JNL Series Trust and the JNL Variable Fund LLC and Curian Capital, LLC (“Curian”) (collectively the “Advisers”) serves as investment adviser for the Funds comprising the Curian Variable Series Trust, both Advisers are wholly-owned subsidiaries of Jackson and receive fees for their services from each Fund.

During the year ended December 31, 2014, the following Funds changed names:
 
PRIOR FUND NAME
CURRENT FUND NAME
EFFECTIVE DATE
JNL/Brookfield Global Infrastructure Fund
JNL/Brookfield Global Infrastructure and MLP Fund
April 28, 2014
Curian/Urdang International REIT Fund
Curian/CenterSquare International Real Estate Securities Fund
September 15, 2014
CG - Institutional Alt 100 Conservative Fund
CG - Alt 100 Conservative Fund
September 15, 2014
CG - Institutional Alt 100 Growth Fund
CG - Alt 100 Growth Fund
September 15, 2014
CG - Institutional Alt 100 Moderate Fund
CG - Alt 100 Moderate Fund
September 15, 2014
CG - International Opportunities Conservative Fund
CG - International Conservative Fund
September 15, 2014
CG - International Opportunities Growth Fund
CG - International Growth Fund
September 15, 2014
CG - International Opportunities Moderate Fund
CG - International Moderate Fund
September 15, 2014
 
During the year ended December 31, 2014, the following Fund acquisitions were completed:
 
ACQUIRED FUND
ACQUIRING FUND
DATE OF ACQUISITION
JNL/M&G Global Basics Fund
JNL/Oppenheimer Global Growth Fund
April 28, 2014
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund
Curian/Nicholas Convertible Arbitrage Fund
April 28, 2014
JNL/MC NYSE International 25 Fund
JNL/MC International Index Fund
September 15, 2014
 
(1) The Fund is advised by JNAM or Curian which are affiliates of Jackson.
(2) The Fund is sub-advised by an affiliate of Jackson.
(3) MC denotes the sub-adviser Mellon Capital throughout these financial statements.
(4) CG denotes the Fund of Fund group Curian Guidance throughout these financial statements.
(5) The Fund’s name was changed during the year ended December 31, 2014 and was completed to align the Fund name with its investment strategy.
(6) This Fund is no longer available as of December 31, 2014.
(7) JNL Institutional Alt 65 Fund and JNL/MC Communications Sector Fund are closed to new contract owners.

71

Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014
 
Note 2 – Significant Accounting Policies
 
The following is a summary of significant accounting policies followed by the Separate Account in the preparation of its financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increase and decrease in net assets from operations during the reporting period. Actual results could differ from those estimates.

Investments

The Separate Account’s Investment Divisions’ investments in the corresponding Funds are stated at the closing net asset value (“NAV”) of the respective Fund, which represent fair value. The average cost method is used in determining the cost of the shares sold on withdrawals by the Investment Divisions of the Separate Account. Investments in the Funds are recorded on trade date for financial reporting purposes. Realized gain distributions and dividend income distributions received from the Funds are reinvested in additional shares of the Funds and are recorded as gain or income to the Investment Divisions of the Separate Account on the ex-dividend date.
 
Federal Income Taxes

The operations of the Separate Account are taxed as part of the operations of Jackson, which is taxed as a “life insurance company” under the provisions of the Internal Revenue Code. Under current law, no federal income taxes are payable with respect to the Separate Account. Therefore, no federal income tax provision is required.

Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 740 “Income Taxes” provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. FASB ASC Topic 740 establishes for all entities, a minimum threshold for financial statement recognition of the benefit of positions taken in filing tax returns (including whether an entity is taxable in a particular jurisdiction), and requires certain expanded tax disclosures. FASB ASC Topic 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Separate Account’s tax return to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax expense in the current year. The Interpretation requires that management evaluate the tax positions taken in the returns which remain subject to examination by the Internal Revenue Service and other tax jurisdictions. JNAM completed an evaluation of the Separate Account’s tax positions and based on that evaluation, determined that no provision for federal income tax is required in the Separate Account’s financial statements during the year ended December 31, 2014.

FASB ASC Topic 820, “Fair Value Measurement”

This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements. Various inputs are used in determining the value of an entity’s investments under FASB ASC Topic 820 guidance. The inputs used to value the securities in the Funds are summarized into three broad categories:

72
 
Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014
 
Note 2 – Significant Accounting Policies (continued)
 
·
Level 1 includes valuations based on quoted prices of identical securities in active markets, including valuations for securities listed on a national or foreign stock exchange or investments in mutual funds and securities lending collateral, which is valued as a practical expedient at its daily reported NAV.
·
Level 2 includes valuations determined from significant direct or indirect observable inputs. Direct observable inputs include broker quotes, third party prices, closing prices of similar securities in active markets, closing prices for identical or similar securities in non-active markets or corporate action or reorganization entitlement values. Indirect significant observable inputs include factors such as interest rates, yield curves, prepayment speeds or credit ratings. Level 2 includes valuations for fixed income securities, including certain term loans, over the counter derivatives, centrally cleared swap agreements, broker quotes in active markets, securities subject to corporate actions, securities valued at amortized cost, international equity securities priced by an independent statistical fair value pricing service, swap agreements valued by pricing services or ADRs and GDRs for which quoted prices in active markets are not available.
·
Level 3 includes valuations determined from significant unobservable inputs including an entity’s own assumptions in determining the fair value of the investment. Inputs used to determine the fair value of Level 3 securities include security specific inputs such as: credit quality, credit rating spreads, issuer news, trading characteristics, call features, maturity or anticipated cash flows; or industry specific inputs such as: trading activity of similar markets or securities, changes in the security’s underlying index or changes in comparable securities’ models. Level 3 valuations include securities that are priced based on single source broker quotes, term loans that do not meet certain liquidity thresholds, where prices may be unavailable due to halted trading, restricted to resale due to market events, private placements, newly issued or investments for which reliable quotes are otherwise not available.

The inputs or methodology used for valuing Funds are not necessarily an indication of the risk associated with investing in those Funds. The characterization of the underlying securities held by the Funds in accordance with FASB ASC Topic 820 differs from the characterization of the Separate Account’s Investment Divisions’ investment in the corresponding Funds. As of December 31, 2014, all of the Separate Account’s Investment Divisions’ investment in each of the corresponding Funds are valued as a practical expedient at their daily reported NAVs. Therefore, all investments in Funds have been categorized as Level 1.

For the year ended December 31, 2014, there were no transfers out of Level 1 securities.
 
Note 3 – Contract Charges

Under the term of the contracts, certain charges are allocated to the contract owner to compensate Jackson’s for providing the insurance benefits set forth in the contracts, administering the contracts, distributing the contracts, and assuming certain risks in connection with the contracts. These charges result in a reduction in contract unit value or redemptions of contract units in the number of contract units outstanding.

Contract Owner Charges

The following charges are assessed to the contract owner by redemption of contract units outstanding:

Contract Maintenance Charge

An annual contract maintenance charge of $35 - $50 is charged against each contract to reimburse Jackson for expenses incurred in establishing and maintaining records relating to the contract. The contract maintenance charge is assessed on each anniversary of the contract date that occurs prior to the annuity date or in conjunction with a total withdrawal, as applicable. This charge is only imposed if the contract value is less than $50,000 on the date when the charge is assessed. The charge is deducted by redemption of contract units.
 
73
 
Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014
 
Note 3 – Contract Charges (continued)

Transfer Charge

A transfer charge of $25 will apply to transfers made by contract owners between the Investment Divisions in excess of 15 transfers in a contract year. Contract year is defined as the succeeding twelve months from the contract issue date. Jackson may waive the transfer charge in connection with pre-authorized automatic transfer programs, or in those states where a lesser charge is required. This charge will be deducted from the amount transferred prior to the allocation to a different Investment Division.

Surrender or Contingent Deferred Sales Charge

During the first three to nine contract years, certain contracts include a provision for a charge upon the surrender or partial surrender of the contract. The amount assessed under the contract terms, if any, depends upon the cost associated with distributing the particular contracts. The amount, if any, is determined based on a number of factors, including the amount withdrawn, the contract year of surrender, or the number and amount of withdrawals in a calendar year. The surrender charges are assessed by Jackson and withheld from the proceeds of the withdrawals.

Optional Benefit Charges
 
Guaranteed Minimum Income Benefit Charge. If this benefit has been selected, Jackson will assess an annual charge of 0.40% to 0.87%, depending on the contract, of the Guaranteed Minimum Income Benefit (“GMIB”) base. The charge will be deducted each calendar quarter from the contract value by redemption of contract units.

Guaranteed Minimum Accumulation Benefit Charge. If this benefit has been selected, Jackson will assess an annual charge of 1.00% to 1.02% of the Guaranteed Value (“GV”). The charge will be deducted each calendar quarter from the contract value by redemption of contract units.

Guaranteed Minimum Withdrawal Benefit Charge. If this benefit has been selected, Jackson will assess an annual charge of 0.50% to 3.00%, depending on the contract, of the Guaranteed Withdrawal Balance (“GWB”). The charge will be deducted each calendar quarter from the contract value by redemption of contract units.

Guaranteed Minimum Death Benefit Charge. If any of the optional death benefits are selected that are available under the contract, Jackson will assess an annual charge of 0.60% to 1.80%, depending on the contract, of the Death Benefit base. The charge will be deducted each contract quarter from the contract value by redemption of contract units.

Asset-based Charges

The following charges are assessed to the contract owner by a reduction in contract unit value:

Insurance Charges

Jackson deducts a daily charge for administrative expenses from the net assets of the Separate Account equivalent to an annual rate of 0.15%. In designated products, this expense is waived for contracts valued greater than $1 million, refer to the product prospectus for eligibility. The administration charge is designed to reimburse Jackson for expenses incurred in administering the Separate Account and its contracts and reduces the contract unit value.
 
74
 
Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014
 
Note 3 – Contract Charges (continued)

Jackson deducts a daily base contract charge from the net assets of the Separate Account equivalent to an annual rate of 0.15% to 1.65% for the assumption of mortality and expense risks. The mortality risk assumed by Jackson is that the insured may receive benefits greater than those anticipated by Jackson. The expense risk assumed by Jackson is that the actual cost of administering the contracts of the Separate Account may exceed the amount received from the Administration Charge and the Contract Maintenance Charge.

Optional Benefit Charges

Earnings Protection Benefit Charge. If this benefit option has been selected, Jackson will make an additional deduction of 0.20% to 0.45%, depending on the contract chosen, on an annual basis of the average daily net assets of the contract owner’s allocations to the Investment Divisions.

Contract Enhancement Charge. If one of the contract enhancement benefits is selected, then for a period of five to nine contract years, Jackson will make an additional deduction based upon the average daily net assets of the contract owner’s allocations to the Investment Divisions. The amounts of these charges depend upon the contract enhancements selected and range from 0.395% to 0.832%.

Withdrawal Charge Period. If the optional three, four, or five-year withdrawal charge period feature is selected, Jackson will deduct 0.45%, 0.40%, or 0.30%, respectively, on an annual basis of the average daily net assets of the contract owner’s allocations to the Investment Divisions.

20% Additional Free Withdrawal Charge. If a contract owner selects the optional feature that permits you to withdraw up to 20% of premiums that are still subject to a withdrawal charge minus earnings during a contract year without withdrawal charge, Jackson will deduct 0.30% to 0.40% on an annual basis of the average daily net assets of the contract owner’s allocations to the Investment Divisions.

Optional Death Benefit Charges. If any of the optional death benefits are selected that are available under the contract, Jackson will make an additional deduction of 0.15% to 0.80% on an annual basis of the average daily net assets the contract owner’s allocations to the Investment Divisions, based on the optional death benefit selected.
 
Premium Taxes

Some states and other governmental entities charge premium taxes or other similar taxes. Jackson pays these taxes and may make a deduction from the value of the contract for them. Premium taxes generally range from 0% to 3.5% depending on the state.

Note 4 – Related Party Transactions

For contract enhancement benefits related to the optional benefits offered, Jackson contributed $7,965,508 and $12,920,132 to the Separate Account in the form of additional premium to contract owners’ accounts for the years ended December 31, 2014 and 2013, respectively. These amounts are included in purchase payments received from contract owners.
 
75
 
Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014

Note 5 – Purchases and Sales of Investments
 
For the year ended December 31, 2014, cost of purchases and proceeds from sales of the Investment Divisions’ investments in the corresponding Funds are as follows:
 
Curian Variable Series Trust
  
   
Cost of
Purchases
    
Proceeds
 from Sales
      
Cost of
Purchases
    
Proceeds
 from Sales
  
CG - Alt 100 Conservative Fund
   $ 24,874,078     $ 8,505,426  
Curian Tactical Advantage 75 Fund
   $ 49,545,538     $ 21,575,062  
CG - Alt 100 Growth Fund
     77,802,295       9,880,202  
Curian/Aberdeen Latin America Fund
     4,899,848       4,078,322  
CG - Alt 100 Moderate Fund
     116,645,045       60,201,522  
Curian/American Funds Global Growth Fund
     30,549,523       5,075,158  
CG - Conservative Fund
     66,370,268       25,126,119  
Curian/American Funds Growth Fund
     64,592,723       16,981,074  
CG - Equity 100 Fund
     44,296,235       14,784,049  
Curian/AQR Risk Parity Fund
     23,189,162       4,802,022  
CG - Equity Income Fund
     26,492,490       8,858,760  
Curian/Ashmore Emerging Market Small Cap Equity Fund
     3,219,802       1,023,710  
CG - Fixed Income 100 Fund
     33,800,256       11,345,810  
Curian/Baring International Fixed Income Fund
     5,341,337       2,430,558  
CG - Growth Fund
     126,048,683       16,183,355  
Curian/BlackRock Global Long Short Credit Fund
     46,527,415       14,991,191  
CG - Institutional Alt 65 Fund
     36,770,959       19,967,751  
Curian/CenterSquare International Real Estate Securities Fund
   7,106,819       2,354,871  
CG - Interest Rate Opportunities Fund
     31,969,178       12,265,542  
Curian/DFA U.S. Micro Cap Fund
     27,686,904       8,406,459  
CG - International Conservative Fund
     3,700,485       676,327  
Curian/DoubleLine Total Return Fund
     71,932,493       10,049,153  
CG - International Growth Fund
     5,845,543       2,275,729  
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund
 9,590,939       3,420,768  
CG - International Moderate Fund
     9,300,589       3,351,675  
Curian/Epoch Global Shareholder Yield Fund
     16,408,075       6,119,891  
CG - Maximum Growth Fund
     63,024,567       14,569,380  
Curian/FAMCO Flex Core Covered Call Fund
     54,845,407       14,954,293  
CG - Moderate Fund
     213,511,945       51,145,796  
Curian/Franklin Templeton Frontier Markets Fund
     18,217,604       6,605,078  
CG - Moderate Growth Fund
     266,179,894       44,809,793  
Curian/Franklin Templeton Natural Resources Fund
     29,330,765       9,067,923  
CG - Multi-Strategy Income Fund
     25,076,681       7,401,633  
Curian/Lazard International Strategic Equity Fund
     14,634,749       3,183,655  
CG - Real Assets Fund
     11,054,149       4,369,024  
Curian/Neuberger Berman Currency Fund
     7,833,562       4,768,785  
CG - Tactical Maximum Growth Fund
     39,999,068       13,322,568  
Curian/Neuberger Berman Risk Balanced Commodity Strategy Fund
 5,150,306       1,412,511  
CG - Tactical Moderate Growth Fund
     104,480,146       42,481,617  
Curian/Nicholas Convertible Arbitrage Fund
     46,069,873       19,321,855  
Curian Dynamic Risk Advantage – Diversified Fund
     69,509,036       75,531,405  
Curian/PIMCO Credit Income Fund
     20,563,838       7,224,355  
Curian Dynamic Risk Advantage – Growth Fund
     27,239,787       22,390,379  
Curian/PineBridge Merger Arbitrage Fund
     26,524,899       24,530,554  
Curian Dynamic Risk Advantage – Income Fund
     58,760,920       41,218,437  
Curian/Schroder Emerging Europe Fund
     4,471,576       2,681,661  
Curian Focused International Equity Fund
     3,222,161       401,078  
Curian/T. Rowe Price Capital Appreciation Fund
     81,120,191       7,739,774  
Curian Focused U.S. Equity Fund
     7,071,233       1,358,878  
Curian/The Boston Company Equity Income Fund
     24,875,217       9,106,089  
Curian Long Short Credit Fund
     11,601,347       3,753,621  
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund*
 1,932,105       19,955,889  
Curian Tactical Advantage 35 Fund
     21,757,642       8,802,099  
Curian/UBS Global Long Short Fixed Income Opportunities Fund
     12,995,426       5,150,554  
Curian Tactical Advantage 60 Fund
     45,835,512       16,809,372  
Curian/Van Eck International Gold Fund
     31,060,003       10,981,218  
 
76
 
Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014
 
Note 5 – Purchases and Sales of Investments (continued)
 
JNL Series Trust
  
   
Cost of
Purchases
    
Proceeds
 from Sales
      
Cost of
Purchases
    
Proceeds
 from Sales
  
JNL Disciplined Growth Fund
   $ 234,918,538     $ 104,840,214  
JNL/Goldman Sachs Core Plus Bond Fund
   $ 388,589,556     $ 237,159,886  
JNL Disciplined Moderate Fund
     351,185,087       160,210,269  
JNL/Goldman Sachs Emerging Markets Debt Fund
     35,779,722       58,760,820  
JNL Disciplined Moderate Growth Fund
     463,106,114       189,259,773  
JNL/Goldman Sachs Mid Cap Value Fund
     387,615,679       199,198,735  
JNL Institutional Alt 20 Fund
     271,476,281       271,645,098  
JNL/Goldman Sachs U.S. Equity Flex Fund
     202,626,096       77,795,203  
JNL Institutional Alt 35 Fund
     368,975,037       416,721,658  
JNL/Invesco Global Real Estate Fund
     503,818,482       239,682,919  
JNL Institutional Alt 50 Fund
     610,712,940       613,304,769  
JNL/Invesco International Growth Fund
     227,149,160       129,304,518  
JNL Institutional Alt 65 Fund
     47,662,750       155,343,462  
JNL/Invesco Large Cap Growth Fund
     324,442,221       213,140,895  
JNL/Alliance Bernstein Dynamic Asset Allocation Fund
     21,975,926       3,149,136  
JNL/Invesco Mid Cap Value Fund
     119,247,050       85,498,270  
JNL/American Funds Balanced Allocation Fund
     393,532,629       99,215,757  
JNL/Invesco Small Cap Growth Fund
     336,001,444       221,548,748  
JNL/American Funds Blue Chip Income and Growth Fund
     630,367,076       205,717,270  
JNL/Ivy Asset Strategy Fund
     924,557,883       625,849,914  
JNL/American Funds Global Bond Fund
     181,748,205       147,003,575  
JNL/JPMorgan International Value Fund
     161,308,684       111,829,452  
JNL/American Funds Global Small Capitalization Fund
     158,112,333       103,843,443  
JNL/JPMorgan MidCap Growth Fund
     449,596,141       238,664,763  
JNL/American Funds Growth Allocation Fund
     360,892,089       90,627,095  
JNL/JPMorgan U.S. Government & Quality Bond Fund
     419,008,349       340,774,539  
JNL/American Funds Growth-Income Fund
     900,883,866       306,330,726  
JNL/Lazard Emerging Markets Fund
     85,459,216       136,971,663  
JNL/American Funds International Fund
     267,355,931       90,789,218  
JNL/M&G Global Basics Fund*
     5,000,872       67,752,189  
JNL/American Funds New World Fund
     273,960,807       117,020,784  
JNL/MC 10 x 10 Fund
     99,801,890       68,740,351  
JNL/AQR Managed Futures Strategy Fund
     46,088,836       22,775,661  
JNL/MC Bond Index Fund
     304,303,374       183,133,742  
JNL/BlackRock Commodity Securities Strategy Fund
     269,806,770       243,240,315  
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund
   95,221,148       46,636,045  
JNL/BlackRock Global Allocation Fund
     1,125,794,193       448,815,757  
JNL/MC Emerging Markets Index Fund
     307,294,247       187,498,700  
JNL/BlackRock Large Cap Select Growth Fund
     256,176,375       167,290,498  
JNL/MC European 30 Fund
     264,737,570       131,766,770  
JNL/Boston Partners Global Long Short Equity Fund
     3,435,459       168,574  
JNL/MC Global Alpha Fund
     14,068,469       13,807,709  
JNL/Brookfield Global Infrastructure and MLP Fund
     623,756,201       151,912,411  
JNL/MC Index 5 Fund
     165,179,725       130,425,494  
JNL/Capital Guardian Global Balanced Fund
     78,396,666       87,727,835  
JNL/MC International Index Fund
     399,731,427       188,857,383  
JNL/Capital Guardian Global Diversified Research Fund
     70,455,618       70,583,691  
JNL/MC Pacific Rim 30 Fund
     71,117,264       44,213,233  
JNL/DFA U.S. Core Equity Fund
     272,748,158       111,754,324  
JNL/MC S&P 400 MidCap Index Fund
     550,139,856       384,282,860  
JNL/Eagle SmallCap Equity Fund
     355,878,591       322,291,180  
JNL/MC S&P 500 Index Fund
     1,210,970,623       644,110,214  
JNL/Eastspring Investments Asia ex-Japan Fund
     62,469,339       63,351,313  
JNL/MC Small Cap Index Fund
     386,445,958       414,081,921  
JNL/Eastspring Investments China-India Fund
     106,604,270       117,698,674  
JNL/MC Utilities Sector Fund
     44,051,901       7,935,906  
JNL/Franklin Templeton Founding Strategy Fund
     400,652,072       323,705,679  
JNL/MMRS Conservative Fund
     28,987,460       4,352,658  
JNL/Franklin Templeton Global Growth Fund
     233,382,543       127,247,018  
JNL/MMRS Growth Fund
     18,814,102       1,380,869  
JNL/Franklin Templeton Global Multisector Bond Fund
     376,234,215       206,821,362  
JNL/MMRS Moderate Fund
     48,983,728       5,407,777  
JNL/Franklin Templeton Income Fund
     837,611,763       377,622,820  
JNL/Morgan Stanley Mid Cap Growth Fund
     108,359,905       76,663,481  
JNL/Franklin Templeton International Small Cap Growth Fund
   199,606,351       125,457,095  
JNL/Neuberger Berman Strategic Income Fund
     268,116,141       73,064,518  
JNL/Franklin Templeton Mutual Shares Fund
     169,385,997       127,946,965  
JNL/Oppenheimer Global Growth Fund
     264,962,720       169,847,157  
JNL/Franklin Templeton Small Cap Value Fund
     271,643,199       191,527,771  
JNL/PIMCO Real Return Fund
     384,081,311       460,028,785  
 
77
 
Jackson National Separate Account I
Notes to Financial Statements (continued)
December 31, 2014
 
Note 5 – Purchases and Sales of Investments (continued)
 
JNL Series Trust (continued)
  
   
 
Cost of Purchases
    
Proceeds
 from Sales
      
 
Cost of Purchases
    
Proceeds
 from Sales
  
JNL/PIMCO Total Return Bond Fund
   $ 746,488,761     $ 979,905,615  
JNL/S&P Managed Growth Fund
   $ 1,003,103,272     $ 698,610,386  
JNL/PPM America Floating Rate Income Fund
     654,872,289       512,266,138  
JNL/S&P Managed Moderate Fund
     609,312,296       605,566,074  
JNL/PPM America High Yield Bond Fund
     1,131,364,509       978,218,722  
JNL/S&P Managed Moderate Growth Fund
     1,067,482,977       944,921,336  
JNL/PPM America Mid Cap Value Fund
     207,012,852       170,798,488  
JNL/S&P Mid 3 Fund
     88,134,806       12,123,781  
JNL/PPM America Small Cap Value Fund
     159,071,690       130,007,985  
JNL/S&P Total Yield Fund
     428,316,137       195,865,367  
JNL/PPM America Value Equity Fund
     102,128,844       81,286,107  
JNL/Scout Unconstrained Bond Fund
     19,544,619       3,296,793  
JNL/Red Rocks Listed Private Equity Fund
     163,504,770       107,924,587  
JNL/T. Rowe Price Established Growth Fund
     842,615,297       530,307,461  
JNL/S&P 4 Fund
     2,164,568,721       780,471,117  
JNL/T. Rowe Price Mid-Cap Growth Fund
     810,781,762       469,658,651  
JNL/S&P Competitive Advantage Fund
     359,269,661       208,307,132  
JNL/T. Rowe Price Short-Term Bond Fund
     481,130,404       353,835,752  
JNL/S&P Dividend Income & Growth Fund
     745,677,563       415,952,268  
JNL/T. Rowe Price Value Fund
     607,846,679       321,013,879  
JNL/S&P International 5 Fund
     2,592,538       109,913  
JNL/WMC Balanced Fund
     1,181,104,255       524,013,903  
JNL/S&P Intrinsic Value Fund
     694,008,364       285,682,959  
JNL/WMC Money Market Fund
     1,980,439,739       2,031,946,684  
JNL/S&P Managed Aggressive Growth Fund
     418,273,468       301,163,899  
JNL/WMC Value Fund
     168,360,938       172,250,157  
JNL/S&P Managed Conservative Fund
     313,144,340       398,974,562                    
 
JNL Variable Fund LLC
  
   
Cost of
Purchases
    
Proceeds
 from Sales
      
Cost of
Purchases
    
Proceeds
 from Sales
  
JNL/MC 25 Fund
   $ 304,831,226     $ 291,833,968  
JNL/MC JNL Optimized 5 Fund
   $ 107,489,934     $ 116,724,515  
JNL/MC Communications Sector Fund
     41,690,326       50,043,995  
JNL/MC Nasdaq 25 Fund
     526,912,318       212,154,167  
JNL/MC Consumer Brands Sector Fund
     210,981,225       209,736,759  
JNL/MC NYSE International 25 Fund**
     30,420,584       110,358,922  
JNL/MC Dow10 Fund
     153,553,573       209,427,096  
JNL/MC Oil & Gas Sector Fund
     581,938,333       371,890,121  
JNL/MC Financial Sector Fund
     249,699,535       174,643,163  
JNL/MC S&P 24 Fund
     111,955,768       140,896,438  
JNL/MC Global 15 Fund
     76,416,099       144,165,367  
JNL/MC S&P SMid 60 Fund
     245,332,861       148,600,100  
JNL/MC Healthcare Sector Fund
     1,024,133,387       389,021,946  
JNL/MC Technology Sector Fund
     443,799,741       212,757,115  
JNL/MC JNL 5 Fund
     439,546,311       829,985,928  
JNL/MC Value Line 30 Fund
     224,730,001       227,451,125  
 
*No longer available as of April 28, 2014.
**No longer available as of September 15, 2014.

Note 6 – Subsequent Events

Management evaluated subsequent events for the Separate Account through the date the financial statements are issued, and has concluded there are no events that require financial statement disclosure or adjustments to the financial statements.

78

Jackson National Separate Account I
        
Notes to Financial Statements (continued)
    
                                         
Note 7 - Financial Highlights
                                        
The following is a summary for each period in the five-year period ended December 31, 2014, of unit values, total returns and expense ratios for variable annuity contracts with the highest and lowest expense ratios in addition to certain other Investment Division data.  Unit values for Investment Divisions that do not have any assets at period end are calculated based on the net asset value of the underlying Fund less expenses charged directly to that Investment Division of the Separate Account.
 
   
CG - Alt 100 Conservative Fund(c)
    
CG - Alt 100 Growth Fund(c)
    
CG - Alt 100 Moderate Fund(a)
    
CG - Conservative Fund(a)
    
CG - Equity 100 Fund(b)
    
CG - Equity Income Fund(a)
    
CG - Fixed Income 100 Fund(b)
    
CG - Growth Fund(c)
    
CG - Institutional Alt 65 Fund(a)
    
CG - Interest Rate Opportunities Fund(c)
  
                                                             
Highest expense ratio
                                                            
Period ended December 31, 2014
                                                
                                                             
   Unit Value
   $ 9.928455     $ 10.188282     $ 10.481856     $ 10.712563     $ 13.365997     $ 12.833639     $ 9.761038     $ 11.159155     $ 11.220922     $ 9.737764  
   Total Return *
     0.12 %     0.93 %     1.00 %     2.43 %     3.53 %     7.27 %     0.87 %     2.87 %     1.32 %     -0.20 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2013
                                                                
                                                                                 
   Unit Value
   $ 9.916106     $ 10.094602     $ 10.377791     $ 10.458910     $ 12.909766     $ 11.964132     $ 9.676527     $ 10.848221     $ 11.074681     $ 9.757449  
   Total Return *
     -1.02 %***     0.65 %***     2.59 %     -0.40 %     25.57 %     15.34 %     -3.63 %     6.60 %***     7.28 %     -2.42 %***
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2012
                                                                
                                                                                 
   Unit Value
     n/a       n/a     $ 10.115887     $ 10.501283     $ 10.280954     $ 10.372755     $ 10.041477       n/a     $ 10.323314       n/a  
   Total Return *
     n/a       n/a       1.38 %***     5.20 %***     1.76 %***     2.32 %***     0.64 %***     n/a       2.67 %***     n/a  
   Ratio of Expenses **
     n/a       n/a       1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     n/a       1.25 %     n/a  
                                                                                 
Period ended December 31, 2011
                                                                  
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010                                                                  
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations September 10, 2012.
(c) Commencement of operations April 29, 2013.
 
79
 
Jackson National Separate Account I
        
Notes to Financial Statements (continued)
          
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
CG - Alt 100 Conservative Fund(c)
    
CG - Alt 100 Growth Fund(c)
    
CG - Alt 100 Moderate Fund(a)
    
CG - Conservative Fund(a)
    
CG - Equity 100 Fund(b)
    
CG - Equity Income Fund(a)
    
CG - Fixed Income 100 Fund(b)
    
CG - Growth Fund(c)
    
CG - Institutional Alt 65 Fund(a)
    
CG - Interest Rate Opportunities Fund(c)
  
                                                                   
Lowest expense ratio
                                                  
Period ended December 31, 2014
                                                      
                                                                   
   Unit Value
   $ 9.995148     $ 10.256716     $ 10.603814     $ 10.837483     $ 13.489320     $ 12.983096     $ 9.851467     $ 11.234131             $ 11.351738     $ 9.803181  
   Total Return *
     0.53 %     1.33 %     1.41 %     2.84 %     3.95 %     7.70 %     1.28 %     3.28 %             1.73 %     0.20 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %             0.85 %     0.85 %
                                                                                         
Period ended December 31, 2013
                                                                        
                                                                                         
   Unit Value
   $ 9.942871     $ 10.121845     $ 10.456632     $ 10.538630     $ 12.976876     $ 12.055147     $ 9.727185     $ 10.877509             $ 11.159072     $ 9.783791  
   Total Return *
     0.91 %***     4.84 %***     3.00 %     0.00 %     26.07 %     11.94 %***     -2.97 %***     7.44 %***             7.71 %     0.65 %***
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %             0.85 %     0.85 %
                                                                                         
Period ended December 31, 2012
                                                                                  
                                                                                         
   Unit Value
     n/a       n/a     $ 10.152050     $ 10.539085     $ 10.293138     $ 10.396103     $ 10.049198       n/a             $ 10.360450       n/a  
   Total Return *
     n/a       n/a       5.94 %***     6.22 %***     2.62 %***     2.47 %***     0.52 %***     n/a               7.36 %***     n/a  
   Ratio of Expenses **
     n/a       n/a       0.85 %     0.85 %     0.85 %     1.00 %     1.00 %     n/a               0.85 %     n/a  
                                                                                         
Period ended December 31, 2011
                                                                          
                                                                                         
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
                                                                                         
Period ended December 31, 2010
                                                                      
                                                                                         
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations September 10, 2012.
(c) Commencement of operations April 29, 2013.
 
80
 
Jackson National Separate Account I
    
Notes to Financial Statements (continued)
          
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
CG - Alt 100 Conservative Fund(c)
    
CG - Alt 100 Growth Fund(c)
    
CG - Alt 100 Moderate Fund(a)
    
CG - Conservative Fund(a)
    
CG - Equity 100 Fund(b)
    
CG - Equity Income Fund(a)
    
CG - Fixed Income 100 Fund(b)
    
CG - Growth Fund(c)
    
CG - Institutional Alt 65 Fund(a)
    
CG - Interest Rate Opportunities Fund(c)
  
                                                             
Investment Division data
                                              
Period ended December 31, 2014
                                            
                                                             
   Net Assets (in thousands)
   $ 34,297     $ 104,198     $ 330,093     $ 97,608     $ 78,822     $ 62,045     $ 44,387     $ 156,055     $ 124,348     $ 47,997  
   Units Outstanding (in thousands)
     3,444       10,192       31,305       9,073       5,868       4,809       4,527       13,932       11,019       4,914  
   Investment Income Ratio *
     0.55 %     0.84 %     1.09 %     0.84 %     0.60 %     3.93 %     1.47 %     0.47 %     0.83 %     1.65 %
                                                                                 
Period ended December 31, 2013
                                                                                
                                                                                 
   Net Assets (in thousands)
   $ 17,739     $ 37,070     $ 275,260     $ 55,255     $ 49,262     $ 43,192     $ 22,059     $ 43,816     $ 107,396     $ 28,938  
   Units Outstanding (in thousands)
     1,787       3,667       26,425       5,268       3,806       3,599       2,275       4,033       9,662       2,962  
   Investment Income Ratio *
     0.00 %     0.00 %     0.03 %     0.74 %     0.11 %     0.49 %     0.55 %     0.00 %     0.17 %     0.00 %
                                                                                 
Period ended December 31, 2012
                                                                                
                                                                                 
   Net Assets (in thousands)
     n/a       n/a     $ 135,531     $ 24,477     $ 3,443     $ 16,286     $ 6,020       n/a     $ 46,331       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       13,376       2,328       335       1,568       599       n/a       4,480       n/a  
   Investment Income Ratio *
     n/a       n/a       0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     n/a       0.00 %     n/a  
                                                                                 
Period ended December 31, 2011
                                                                                
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                                          
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations September 10, 2012.
(c) Commencement of operations April 29, 2013.
 
81
 
Jackson National Separate Account I
      
Notes to Financial Statements (continued)
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
CG - International Conservative Fund(b)
    
CG - International Growth Fund(b)
    
CG - International Moderate Fund(b)
    
CG - Maximum Growth Fund(a)
    
CG - Moderate Fund(a)
    
CG - Moderate Growth Fund(a)
    
CG - Multi-Strategy Income Fund(b)
    
CG - Real Assets Fund(b)
    
CG - Tactical Maximum Growth Fund(a)
    
CG - Tactical Moderate Growth Fund(a)
  
                                                             
Highest expense ratio
                                          
Period ended December 31, 2014
                                                
                                                             
   Unit Value
   $ 9.411909     $ 9.653876     $ 9.488808     $ 12.393887     $ 11.811656     $ 11.816159     $ 9.712107     $ 9.534736     $ 11.846077     $ 11.728280  
   Total Return *
     -3.25 %     -4.45 %     -4.41 %     2.96 %     2.42 %     2.82 %     0.66 %     -2.88 %     2.49 %     3.14 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2013
                                                                
                                                                                 
   Unit Value
   $ 9.727702     $ 10.103960     $ 9.926114     $ 12.036999     $ 11.532390     $ 11.492164     $ 9.648447     $ 9.817049     $ 11.558091     $ 11.371351  
   Total Return *
     -1.17 %***     -0.81 %***     -1.03 %***     17.30 %     10.76 %     10.37 %     -3.61 %***     -2.22 %***     13.92 %     11.22 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2012
                                                              
                                                                                 
   Unit Value
     n/a       n/a       n/a     $ 10.261285     $ 10.412286     $ 10.412310       n/a       n/a     $ 10.145630     $ 10.224428  
   Total Return *
     n/a       n/a       n/a       1.55 %***     3.07 %***     2.82 %***     n/a       n/a       1.01 %***     1.76 %***
   Ratio of Expenses **
     n/a       n/a       n/a       1.25 %     1.25 %     1.25 %     n/a       n/a       1.25 %     1.25 %
                                                                                 
Period ended December 31, 2011
                                                                
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                                  
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations April 29, 2013.
 
82
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
CG - International Conservative Fund(b)
    
CG - International Growth Fund(b)
    
CG - International Moderate Fund(b)
    
CG - Maximum Growth Fund(a)
    
CG - Moderate Fund(a)
    
CG - Moderate Growth Fund(a)
    
CG - Multi-Strategy Income Fund(b)
    
CG - Real Assets Fund(b)
    
CG - Tactical Maximum Growth Fund(a)
    
CG - Tactical Moderate Growth Fund(a)
  
                                                                   
Lowest expense ratio
                                                
Period ended December 31, 2014
                                                      
                                                                   
   Unit Value
   $ 9.475144     $ 9.719272     $ 9.552464     $ 12.541681     $ 11.949381     $ 11.953965     $ 9.777290     $ 9.598681             $ 11.983690     $ 11.865096  
   Total Return *
     -3.29 %***     -4.07 %     -4.02 %     3.38 %     2.83 %     3.23 %     1.06 %     -2.04 %***             2.90 %     3.55 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %             0.85 %     0.85 %
                                                                                     
Period ended December 31, 2013
                                                                          
                                                                                         
   Unit Value
   $ 9.744378     $ 10.131797     $ 9.952817     $ 12.131900     $ 11.620290     $ 11.579777     $ 9.674418     $ 9.833508             $ 11.645683     $ 11.458072  
   Total Return *
     -0.62 %***     1.32 %***     0.26 %***     17.78 %     11.20 %     10.81 %     2.00 %***     -3.00 %***             14.38 %     11.66 %
   Ratio of Expenses **
     1.00 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %             0.85 %     0.85 %
                                                                                         
Period ended December 31, 2012
                                                                                  
                                                                                         
   Unit Value
     n/a       n/a       n/a     $ 10.300908     $ 10.449759     $ 10.449811       n/a       n/a             $ 10.181703     $ 10.261265  
   Total Return *
     n/a       n/a       n/a       6.31 %***     5.03 %***     2.98 %***     n/a       n/a               0.56 %***     2.33 %***
   Ratio of Expenses **
     n/a       n/a       n/a       0.85 %     0.85 %     0.85 %     n/a       n/a               0.85 %     0.85 %
                                                                                         
Period ended December 31, 2011
                                                                                  
                                                                                         
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
                                                                                         
Period ended December 31, 2010
                                                                                  
                                                                                         
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a               n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations April 29, 2013.
 
83
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
CG - International Conservative Fund(b)
    
CG - International Growth Fund(b)
    
CG - International Moderate Fund(b)
    
CG - Maximum Growth Fund(a)
    
CG - Moderate Fund(a)
    
CG - Moderate Growth Fund(a)
    
CG - Multi-Strategy Income Fund(b)
    
CG - Real Assets Fund(b)
    
CG - Tactical Maximum Growth Fund(a)
    
CG - Tactical Moderate Growth Fund(a)
  
                                                             
Investment Division data
                                              
Period ended December 31, 2014
                                                        
                                                             
   Net Assets (in thousands)
   $ 4,659     $ 7,728     $ 10,278     $ 113,732     $ 334,274     $ 476,811     $ 37,647     $ 10,920     $ 92,147     $ 287,493  
   Units Outstanding (in thousands)
     494       798       1,080       9,114       28,148       40,122       3,865       1,142       7,729       24,366  
   Investment Income Ratio *
     1.06 %     0.72 %     1.12 %     0.66 %     0.77 %     0.71 %     1.66 %     1.12 %     0.55 %     0.87 %
                                                                                 
Period ended December 31, 2013
                                                                            
                                                                                 
   Net Assets (in thousands)
   $ 1,844     $ 4,524     $ 4,825     $ 65,551     $ 172,059     $ 252,989     $ 20,207     $ 4,999     $ 66,139     $ 228,188  
   Units Outstanding (in thousands)
     189       447       485       5,422       14,870       21,932       2,092       509       5,698       19,989  
   Investment Income Ratio *
     0.00 %     0.00 %     0.00 %     0.17 %     0.47 %     0.19 %     0.00 %     0.00 %     0.00 %     0.38 %
                                                                                 
Period ended December 31, 2012
                                                                            
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a     $ 20,322     $ 47,535     $ 65,697       n/a       n/a     $ 19,798     $ 69,877  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       1,976       4,559       6,299       n/a       n/a       1,948       6,823  
   Investment Income Ratio *
     n/a       n/a       n/a       0.00 %     0.00 %     0.00 %     n/a       n/a       0.00 %     0.00 %
                                                                                 
Period ended December 31, 2011
                                                                          
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                                          
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations April 29, 2013.
 
84
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
Curian Dynamic Risk Advantage - Diversified Fund(a)
    
Curian Dynamic Risk Advantage - Growth Fund(a)
    
Curian Dynamic Risk Advantage - Income Fund(a)
    
Curian Focused International Equity Fund(c)
    
Curian Focused U.S. Equity Fund(c)
    
Curian Long Short Credit Fund(b)
    
Curian Tactical Advantage 35 Fund(a)
    
Curian Tactical Advantage 60 Fund(a)
    
Curian Tactical Advantage 75 Fund(a)
    
Curian/Aberdeen Latin America Fund(b)
  
                                                             
Highest expense ratio
                                              
Period ended December 31, 2014
                                          
                                                             
   Unit Value
   $ 10.461190     $ 8.968955     $ 10.971928     $ 10.254829     $ 11.174002     $ 9.816534     $ 11.165427     $ 12.072145     $ 12.696731     $ 6.896162  
   Total Return *
     3.86 %     -5.40 %     6.82 %     -2.17 %     2.23 %     -2.66 %     2.74 %     3.23 %     3.26 %     -16.52 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Unit Value
   $ 10.072268     $ 9.481418     $ 10.271724     $ 10.481899     $ 10.930272     $ 10.084594     $ 10.868074     $ 11.694230     $ 12.295763     $ 8.260382  
   Total Return *
     0.83 %     0.51 %     0.17 %     4.98 %***     9.67 %***     0.77 %***     5.27 %     12.29 %     17.00 %     -17.40 %***
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Unit Value
   $ 9.989160     $ 9.433605     $ 10.254370       n/a       n/a       n/a     $ 10.323527     $ 10.413978     $ 10.508906       n/a  
   Total Return *
     0.11 %***     -6.27 %***     1.96 %***     n/a       n/a       n/a       2.59 %***     2.53 %***     3.28 %***     n/a  
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     n/a       n/a       n/a       1.25 %     1.25 %     1.25 %     n/a  
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations April 29, 2013.
(c) Commencement of operations September 16, 2013. 
 
85
 
Jackson National Separate Account I
        
Notes to Financial Statements (continued)
              
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
Curian Dynamic Risk Advantage - Diversified Fund(a)
    
Curian Dynamic Risk Advantage - Growth Fund(a)
    
Curian Dynamic Risk Advantage - Income Fund(a)
    
Curian Focused International Equity Fund(c)
    
Curian Focused U.S. Equity Fund(c)
    
Curian Long Short Credit Fund(b)
    
Curian Tactical Advantage 35 Fund(a)
    
Curian Tactical Advantage 60 Fund(a)
    
Curian Tactical Advantage 75 Fund(a)
    
Curian/Aberdeen Latin America Fund(b)
  
                                                                   
Lowest expense ratio
                                                  
Period ended December 31, 2014
                                                              
                                                                   
   Unit Value
   $ 10.583109     $ 9.073296     $ 11.099876     $ 10.307880     $ 11.231800     $ 9.882562     $ 11.295623     $ 12.212884       n/a     $ 12.844747     $ 6.942013  
   Total Return *
     4.28 %     -5.03 %     7.25 %     -4.03 %***     0.35 %***     -2.27 %     3.15 %     3.65 %     n/a       3.67 %     -16.18 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     n/a       0.85 %     0.85 %
                                                                                         
Period ended December 31, 2013
                                                                                  
                                                                                         
   Unit Value
   $ 10.148979     $ 9.553428     $ 10.350015     $ 10.489484     $ 10.936958     $ 10.111898     $ 10.950909     $ 11.783332       n/a     $ 12.389453     $ 8.282110  
   Total Return *
     1.24 %     0.91 %     0.57 %     4.81 %***     8.95 %***     4.42 %***     5.70 %     12.74 %     n/a       17.47 %     -16.31 %***
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     1.00 %     1.00 %     0.85 %     0.85 %     0.85 %     n/a       0.85 %     0.85 %
                                                                                         
Period ended December 31, 2012
                                                                                  
                                                                                         
   Unit Value
   $ 10.025057     $ 9.467308     $ 10.291284       n/a       n/a       n/a     $ 10.360690     $ 10.451438       n/a     $ 10.546713       n/a  
   Total Return *
     2.20 %***     -2.40 %***     4.56 %***     n/a       n/a       n/a       5.48 %***     7.21 %***     n/a       7.02 %***     n/a  
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     n/a       n/a       n/a       0.85 %     0.85 %     n/a       0.85 %     n/a  
                                                                                         
Period ended December 31, 2011
                                                                                  
                                                                                         
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                         
Period ended December 31, 2010
                                                                                  
                                                                                         
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations April 29, 2013.
(c) Commencement of operations September 16, 2013. 
 
86
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
Curian Dynamic Risk Advantage - Diversified Fund(a)
    
Curian Dynamic Risk Advantage - Growth Fund(a)
    
Curian Dynamic Risk Advantage - Income Fund(a)
    
Curian Focused International Equity Fund(c)
    
Curian Focused U.S. Equity Fund(c)
    
Curian Long Short Credit Fund(b)
    
Curian Tactical Advantage 35 Fund(a)
    
Curian Tactical Advantage 60 Fund(a)
    
Curian Tactical Advantage 75 Fund(a)
    
Curian/Aberdeen Latin America Fund(b)
  
                                                             
Investment Division data
                                                  
Period ended December 31, 2014
                                                        
                                                             
   Net Assets (in thousands)
   $ 244,166     $ 57,556     $ 173,807     $ 3,201     $ 6,295     $ 12,693     $ 45,820     $ 109,628     $ 98,243     $ 1,628  
   Units Outstanding (in thousands)
     23,214       6,377       15,762       311       562       1,290       4,083       9,033       7,688       235  
   Investment Income Ratio *
     0.00 %     0.00 %     2.02 %     0.00 %     0.03 %     2.20 %     0.86 %     0.72 %     0.67 %     1.14 %
                                                                                 
Period ended December 31, 2013
                                                                                
                                                                                 
   Net Assets (in thousands)
   $ 238,700     $ 55,489     $ 149,064     $ 425     $ 538     $ 5,576     $ 32,732     $ 80,235     $ 70,581     $ 1,216  
   Units Outstanding (in thousands)
     23,618       5,830       14,466       40       49       552       3,002       6,837       5,718       147  
   Investment Income Ratio *
     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     1.07 %
                                                                                 
Period ended December 31, 2012
                                                                                
                                                                                 
   Net Assets (in thousands)
   $ 98,448     $ 19,136     $ 72,577       n/a       n/a       n/a     $ 16,474     $ 23,236     $ 21,517       n/a  
   Units Outstanding (in thousands)
     9,840       2,025       7,067       n/a       n/a       n/a       1,593       2,228       2,044       n/a  
   Investment Income Ratio *
     0.00 %     0.00 %     2.78 %     n/a       n/a       n/a       2.03 %     2.11 %     2.12 %     n/a  
                                                                                 
Period ended December 31, 2011
                                                                                
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                                          
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations April 29, 2013.
(c) Commencement of operations September 16, 2013. 
 
87
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
Curian/American Funds Global Growth Fund(d)
    
Curian/American Funds Growth Fund(a)
    
Curian/AQR Risk Parity Fund(d)
    
Curian/Ashmore Emerging Market Small Cap Equity Fund(c)
    
Curian/Baring International Fixed Income Fund(c)
    
Curian/BlackRock Global Long Short Credit Fund(c)
    
Curian/CenterSquare International Real Estate Securities Fund(c)
    
Curian/DFA U.S. Micro Cap Fund(b)
    
Curian/DoubleLine Total Return Fund(d)
    
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund(c)
  
                                                             
Highest expense ratio
                                            
Period ended December 31, 2014
                                                            
                                                             
   Unit Value
   $ 11.046628     $ 14.397281     $ 10.686030     $ 9.214513     $ 9.180810     $ 10.008361     $ 9.215906     $ 14.398327     $ 10.478400     $ 9.763453  
   Total Return *
     0.79 %     6.64 %     6.61 %     -10.67 %     -3.80 %     -0.07 %     -0.46 %     0.78 %     5.17 %     3.43 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2013
                                                                                
                                                                                 
   Unit Value
   $ 10.960118     $ 13.500581     $ 10.023542     $ 10.314606     $ 9.543746     $ 10.015265     $ 9.258153     $ 14.286592     $ 9.963764     $ 9.440043  
   Total Return *
     7.92 %***     27.84 %     -1.04 %***     2.64 %***     -4.56 %***     0.38 %***     -7.42 %***     41.85 %     -0.35 %***     -5.95 %***
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2012
                                                                                
                                                                                 
   Unit Value
     n/a     $ 10.560434       n/a       n/a       n/a       n/a       n/a     $ 10.071414       n/a       n/a  
   Total Return *
     n/a       4.07 %***     n/a       n/a       n/a       n/a       n/a       0.79 %***     n/a       n/a  
   Ratio of Expenses **
     n/a       1.25 %     n/a       n/a       n/a       n/a       n/a       1.25 %     n/a       n/a  
                                                                                 
Period ended December 31, 2011
                                                                                
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                                          
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations September 10, 2012.
(c) Commencement of operations April 29, 2013.
(d) Commencement of operations September 16, 2013. 
 
88
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
Curian/American Funds Global Growth Fund(d)
    
Curian/American Funds Growth Fund(a)
    
Curian/AQR Risk Parity Fund(d)
    
Curian/Ashmore Emerging Market Small Cap Equity Fund(c)
    
Curian/Baring International Fixed Income Fund(c)
    
Curian/BlackRock Global Long Short Credit Fund(c)
    
Curian/CenterSquare International Real Estate Securities Fund(c)
    
Curian/DFA U.S. Micro Cap Fund(b)
    
Curian/DoubleLine Total Return Fund(d)
    
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund(c)
  
                                                               
Lowest expense ratio
                                                  
Period ended December 31, 2014
                                          
                                                             
   Unit Value
   $ 11.103818     $ 14.565242     $ 10.741330     $ 9.276444     $ 9.242422     $ 10.075609     $ 9.277903     $ 14.531571     $ 10.532615     $ 9.829141  
   Total Return *
     1.19 %     7.07 %     7.16 %***     -10.31 %     -3.42 %     0.33 %     -3.13 %***     1.19 %     5.59 %      3.84 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 10.972881     $ 13.603559     $ 10.030850     $ 10.342473     $ 9.569436     $ 10.042304     $ 9.273814     $ 14.361241     $ 9.975345     $ 9.465616  
   Total Return *
     5.73 %***     28.35 %     -0.97 %***     17.95 %***     -1.59 %***     0.47 %***     -6.98 %***     38.46 %***     -1.43 %***      -1.37 %***
   Ratio of Expenses **
     0.85 %     0.85 %     1.00 %     0.85 %     0.85 %     0.85 %     1.00 %     0.85 %     0.85 %      0.85 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
     n/a     $ 10.598506       n/a       n/a       n/a       n/a       n/a     $ 10.079232       n/a       n/a  
   Total Return *
     n/a       1.54 %***     n/a       n/a       n/a       n/a       n/a       3.60 %***     n/a       n/a  
   Ratio of Expenses **
     n/a       0.85 %     n/a       n/a       n/a       n/a       n/a       1.00 %     n/a       n/a  
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations September 10, 2012.
(c) Commencement of operations April 29, 2013.
(d) Commencement of operations September 16, 2013. 
 
89
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
Curian/American Funds Global Growth Fund(d)
    
Curian/American Funds Growth Fund(a)
    
Curian/AQR Risk Parity Fund(d)
    
Curian/Ashmore Emerging Market Small Cap Equity Fund(c)
    
Curian/Baring International Fixed Income Fund(c)
    
Curian/BlackRock Global Long Short Credit Fund(c)
    
Curian/CenterSquare International Real Estate Securities Fund(c)
    
Curian/DFA U.S. Micro Cap Fund(b)
    
Curian/DoubleLine Total Return Fund(d)
    
Curian/Eaton Vance Global Macro Absolute Return Advantage Fund(c)
  
                                                             
Investment Division data
                                                  
Period ended December 31, 2014
                                      
                                                             
   Net Assets (in thousands)
   $ 31,092     $ 98,155     $ 19,065     $ 3,354     $ 3,892     $ 53,933     $ 7,555     $ 33,715     $ 68,289     $ 14,150  
   Units Outstanding (in thousands)
     2,807       6,775       1,780       363       423       5,373       817       2,331       6,500       1,445  
   Investment Income Ratio *
     0.23 %     0.28 %     0.00 %     0.02 %     0.02 %     0.00 %     4.21 %     0.00 %     0.57 %     0.00 %
                                                                                 
Period ended December 31, 2013
                                                  
                                                                                 
   Net Assets (in thousands)
   $ 5,063     $ 45,214     $ 1,348     $ 1,527     $ 1,210     $ 22,308     $ 3,064     $ 16,188     $ 5,167     $ 7,451  
   Units Outstanding (in thousands)
     462       3,335       134       148       127       2,225       331       1,130       518       789  
   Investment Income Ratio *
     0.00 %     0.19 %     0.00 %     0.04 %     1.34 %     0.00 %     3.03 %     1.14 %     0.00 %     0.00 %
                                                                                 
Period ended December 31, 2012
                                                    
                                                                                 
   Net Assets (in thousands)
     n/a     $ 9,870       n/a       n/a       n/a       n/a       n/a     $ 508       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       933       n/a       n/a       n/a       n/a       n/a       50       n/a       n/a  
   Investment Income Ratio *
     n/a       0.00 %     n/a       n/a       n/a       n/a       n/a       0.00 %     n/a       n/a  
                                                                                 
Period ended December 31, 2011
                                                  
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                    
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
   
(a) Commencement of operations February 6, 2012.
(b) Commencement of operations September 10, 2012.
(c) Commencement of operations April 29, 2013.
(d) Commencement of operations September 16, 2013. 
 
90
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
Curian/Epoch Global Shareholder Yield Fund(a)
    
Curian/FAMCO Flex Core Covered Call Fund(a)
    
Curian/Franklin Templeton Frontier Markets Fund(b)
    
Curian/Franklin Templeton Natural Resources Fund(a)
    
Curian/Lazard International Strategic Equity Fund(c)
    
Curian/Neuberger Berman Currency Fund(b)
    
Curian/Neuberger Berman Risk Balanced Commodity Strategy Fund(d)
    
Curian/Nicholas Convertible Arbitrage Fund(a)
    
Curian/PIMCO Credit Income Fund(a)
    
Curian/PineBridge Merger Arbitrage Fund(a)
  
                                                             
Highest expense ratio
                                                
Period ended December 31, 2014
                                          
                                                             
   Unit Value
   $ 13.515623     $ 12.166470     $ 10.210372     $ 7.370775     $ 11.197435     $ 9.949394     $ 7.674929     $ 10.116505     $ 10.884088     $ 9.684090  
   Total Return *
     4.74 %     7.49 %     -16.03 %     -21.58 %     -2.65 %     2.08 %     -23.25 %***     -2.30 %     6.28 %     -1.83 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Unit Value
   $ 12.904367     $ 11.319214     $ 12.159927     $ 9.399502     $ 11.501897     $ 9.746359       n/a     $ 10.354623     $ 10.241245     $ 9.864683  
   Total Return *
     21.80 %     11.31 %     16.92 %     7.30 %     12.70 %***     -3.13 %     n/a       2.06 %     -2.92 %     -1.03 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     n/a       1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 10.595041     $ 10.169345     $ 10.400205     $ 8.760391       n/a     $ 10.061519       n/a     $ 10.145496     $ 10.549088     $ 9.967386  
   Total Return *
     2.34 %***     0.51 %***     4.52 %***     -10.04 %***     n/a       0.62 %***     n/a       1.68 %***     6.40 %***     -0.41 %***
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     n/a       1.25 %     n/a       1.25 %     1.25 %     1.25 %
                                                                                 
Period ended December 31, 2011
                                                      
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations February 6, 2012.
(b)
Commencement of operations September 10, 2012.
(c)
Commencement of operations April 29, 2013.
(d)
Commencement of operations April 28, 2014.
 
91
 
Jackson National Separate Account I
                  
Notes to Financial Statements (continued)
              
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
Curian/Epoch Global Shareholder Yield Fund(a)
    
Curian/FAMCO Flex Core Covered Call Fund(a)
    
Curian/Franklin Templeton Frontier Markets Fund(b)
    
Curian/Franklin Templeton Natural Resources Fund(a)
    
Curian/Lazard International Strategic Equity Fund(c)
    
Curian/Neuberger Berman Currency Fund(b)
    
Curian/Neuberger Berman Risk Balanced Commodity Strategy Fund(d)
    
Curian/Nicholas Convertible Arbitrage Fund(a)
    
Curian/PIMCO Credit Income Fund(a)
    
Curian/PineBridge Merger Arbitrage Fund(a)
  
                                                             
Lowest expense ratio
                                                
Period ended December 31, 2014
                                        
                                                             
   Unit Value
   $ 13.673002     $ 12.308186     $ 10.304870     $ 7.456477     $ 11.273334     $ 10.041467     $ 7.695611     $ 10.234182     $ 11.011005     $ 9.796913  
   Total Return *
     5.16 %     7.92 %     -15.70 %     -21.27 %     -2.26 %     2.49 %     -23.15 %***     -1.91 %     6.70 %      -1.44 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %      0.85 %
                                                                                 
Period ended December 31, 2013
                                                  
                                                                                 
   Unit Value
   $ 13.002517     $ 11.405341     $ 12.223473     $ 9.470833     $ 11.533634     $ 9.797282       n/a     $ 10.433262     $ 10.319305     $ 9.939768  
   Total Return *
     22.28 %     11.75 %     17.39 %     7.73 %     17.39 %***     -2.74 %     n/a       2.47 %     -2.53 %      -0.63 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     n/a       0.85 %     0.85 %      0.85 %
                                                                                 
Period ended December 31, 2012
                                                  
                                                                                 
   Unit Value
   $ 10.633015     $ 10.205813     $ 10.412815     $ 8.791627       n/a     $ 10.073701       n/a     $ 10.181738     $ 10.587055     $ 10.003149  
   Total Return *
     9.59 %***     -2.44 %***     2.52 %***     14.55 %***     n/a       -0.13 %***     n/a       0.43 %***     5.12 %***      -0.01 %***
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     n/a       0.85 %     n/a       0.85 %     0.85 %      0.85 %
                                                                                 
Period ended December 31, 2011
                                                    
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                    
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations February 6, 2012.
(b)
Commencement of operations September 10, 2012.
(c)
Commencement of operations April 29, 2013.
(d)
Commencement of operations April 28, 2014.
 
92
 
Jackson National Separate Account I
          
Notes to Financial Statements (continued)
      
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
Curian/Epoch Global Shareholder Yield Fund(a)
    
Curian/FAMCO Flex Core Covered Call Fund(a)
    
Curian/Franklin Templeton Frontier Markets Fund(b)
    
Curian/Franklin Templeton Natural Resources Fund(a)
    
Curian/Lazard International Strategic Equity Fund(c)
    
Curian/Neuberger Berman Currency Fund(b)
    
Curian/Neuberger Berman Risk Balanced Commodity Strategy Fund(d)
    
Curian/Nicholas Convertible Arbitrage Fund(a)
    
Curian/PIMCO Credit Income Fund(a)
    
Curian/PineBridge Merger Arbitrage Fund(a)
  
                                                             
Investment Division data
                                                
Period ended December 31, 2014
                                        
                                                             
   Net Assets (in thousands)
   $ 26,393     $ 106,385     $ 17,185     $ 26,805     $ 14,613     $ 14,461     $ 3,124     $ 64,332     $ 34,347     $ 65,411  
   Units Outstanding (in thousands)
     1,942       8,696       1,675       3,616       1,300       1,448       407       6,324       3,138       6,716  
   Investment Income Ratio *
     0.00 %     0.03 %     4.34 %     0.00 %     0.00 %     0.00 %     0.00 %     0.88 %     0.05 %     0.00 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 15,590     $ 59,229     $ 10,524     $ 19,294     $ 3,438     $ 10,984       n/a     $ 40,484     $ 19,395     $ 63,826  
   Units Outstanding (in thousands)
     1,204       5,215       863       2,045       298       1,124       n/a       3,897       1,887       6,448  
   Investment Income Ratio *
     5.64 %     1.99 %     0.00 %     0.00 %     0.00 %     1.40 %     n/a       0.01 %     1.86 %     0.00 %
                                                                                 
Period ended December 31, 2012
                                                    
                                                                                 
   Net Assets (in thousands)
   $ 1,648     $ 14,885     $ 497     $ 6,510       n/a     $ 3,768       n/a     $ 12,035     $ 12,982     $ 26,942  
   Units Outstanding (in thousands)
     155       1,461       48       742       n/a       374       n/a       1,184       1,229       2,699  
   Investment Income Ratio *
     3.09 %     2.32 %     0.00 %     1.24 %     n/a       0.00 %     n/a       0.00 %     2.20 %     0.00 %
                                                                                 
Period ended December 31, 2011
                                                    
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                    
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations February 6, 2012.
(b)
Commencement of operations September 10, 2012.
(c)
Commencement of operations April 29, 2013.
(d)
Commencement of operations April 28, 2014.
 
93
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
Curian/Schroder Emerging Europe Fund(c)
    
Curian/T. Rowe Price Capital Appreciation Fund(d)
    
Curian/The Boston Company Equity Income Fund(a)
    
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund(a)(e)
    
Curian/UBS Global Long Short Fixed Income Opportunities Fund(c)
    
Curian/Van Eck International Gold Fund(b)
    
JNL Disciplined Growth Fund
    
JNL Disciplined Moderate Fund
    
JNL Disciplined Moderate Growth Fund
    
JNL Institutional Alt 20 Fund
  
                                                             
Highest expense ratio
                                                
Period ended December 31, 2014
                                        
                                                             
   Unit Value
   $ 7.413804     $ 11.592747     $ 15.903884     $ 9.591200     $ 9.322874     $ 4.286313     $ 10.299709     $ 10.865604     $ 11.000732     $ 15.220732  
   Total Return *
     -28.14 %     10.34 %     9.69 %     -2.57 %     -5.61 %     -7.30 %     1.73 %     1.53 %     1.81 %     -0.87 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     3.145 %     3.695 %     3.145 %     3.06 %
                                                                                 
Period ended December 31, 2013
                                                      
                                                                                 
   Unit Value
   $ 10.316294     $ 10.506291     $ 14.498494     $ 9.843897     $ 9.876458     $ 4.623635     $ 10.124402     $ 10.702137     $ 10.805322     $ 15.353836  
   Total Return *
     3.17 %***     4.44 %***     35.12 %     -2.12 %     -1.31 %***     -48.54 %     20.22 %     12.86 %     18.88 %     10.45 %
   Ratio of Expenses **
     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     1.25 %     3.145 %     3.695 %     3.145 %     3.06 %
                                                                                 
Period ended December 31, 2012
                                                    
                                                                                 
   Unit Value
     n/a       n/a     $ 10.730038     $ 10.056710       n/a     $ 8.985564     $ 8.421673     $ 9.482585     $ 9.089241     $ 13.901659  
   Total Return *
     n/a       n/a       7.21 %***     -1.21 %***     n/a       -10.14 %***     11.03 %     9.18 %     10.67 %     7.79 %
   Ratio of Expenses **
     n/a       n/a       1.25 %     1.25 %     n/a       1.25 %     3.145 %     3.695 %     3.145 %     3.06 %
                                                                                 
Period ended December 31, 2011
                                                      
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a     $ 7.585200     $ 8.685114     $ 8.213126     $ 12.897292  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       -8.17 %***     -2.93 %     -3.93 %     -5.49 %
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       3.145 %     3.695 %     3.145 %     3.06 %
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a     $ 8.123943     $ 8.947058     $ 8.548681     $ 13.647188  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       9.39 %     7.07 %     9.78 %     9.65 %
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       3.01 %     3.695 %     3.145 %     3.06 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations February 6, 2012.
(b)
Commencement of operations September 10, 2012.
(c)
Commencement of operations April 29, 2013.
(d)
Commencement of operations September 16, 2013.
(e)
The period is from January 1, 2014 through the date the Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund was acquired by Curian/Nicholas Convertible Arbitrage Fund on April 28, 2014.  Unit values disclosed are as of April 25, 2014.
 
94
 
Jackson National Separate Account I
            
Notes to Financial Statements (continued)
          
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
Curian/Schroder Emerging Europe Fund(c)
    
Curian/T. Rowe Price Capital Appreciation Fund(d)
    
Curian/The Boston Company Equity Income Fund(a)
    
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund(a)(e)
    
Curian/UBS Global Long Short Fixed Income Opportunities Fund(c)
    
Curian/Van Eck International Gold Fund(b)
    
JNL Disciplined Growth Fund
    
JNL Disciplined Moderate Fund
    
JNL Disciplined Moderate Growth Fund
    
JNL Institutional Alt 20 Fund
  
                                                                   
Lowest expense ratio
                                                      
Period ended December 31, 2014
                                              
                                                                   
   Unit Value
   $ 7.463620     $ 11.652755     $ 16.085206     $ 9.676021     $ 9.385498     $ 4.326027     $ 12.713071     $ 14.010500             $ 13.577278     $ 17.130262  
   Total Return *
     -27.85 %     10.78 %     10.13 %     -2.44 %     -5.23 %     -6.92 %     4.46 %     4.82 %             4.54 %     1.20 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.50 %     0.50 %             0.50 %     1.00 %
                                                                                         
Period ended December 31, 2013
                                                                
                                                                                         
   Unit Value
   $ 10.344151     $ 10.518508     $ 14.605261     $ 9.918444     $ 9.903103     $ 4.647848     $ 12.170487     $ 13.365738             $ 12.987966     $ 16.927727  
   Total Return *
     10.61 %***     5.76 %***     35.66 %     -1.72 %     -1.88 %***     -48.34 %     23.44 %     16.53 %             22.07 %     12.75 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.50 %     0.50 %             0.50 %     1.00 %
                                                                                         
Period ended December 31, 2012
                                                              
                                                                                         
   Unit Value
     n/a       n/a     $ 10.765905     $ 10.092424       n/a     $ 8.996557     $ 9.859384     $ 11.470238             $ 10.640048     $ 15.014170  
   Total Return *
     n/a       n/a       14.37 %***     -1.42 %***     n/a       -12.37 %***     14.01 %     12.74 %             13.64 %     10.04 %
   Ratio of Expenses **
     n/a       n/a       0.85 %     0.85 %     n/a       0.85 %     0.50 %     0.50 %             0.50 %     1.00 %
                                                                                         
Period ended December 31, 2011
                                                                  
                                                                                         
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a     $ 8.647683     $ 10.174362             $ 9.362785     $ 13.644637  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       -3.62 %     0.22 %             -1.36 %     -4.59 %***
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       0.50 %     0.50 %             0.50 %     1.00 %
                                                                                         
Period ended December 31, 2010
                                                                  
                                                                                         
   Unit Value
     n/a       n/a       n/a       n/a       n/a       n/a     $ 8.972673     $ 10.152509             $ 9.491603     $ 14.119848  
   Total Return *
     n/a       n/a       n/a       n/a       n/a       n/a       12.17 %     10.55 %             12.72 %     11.82 %
   Ratio of Expenses **
     n/a       n/a       n/a       n/a       n/a       n/a       0.50 %     0.50 %             0.50 %     1.10 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations February 6, 2012.
(b)
Commencement of operations September 10, 2012.
(c)
Commencement of operations April 29, 2013.
(d)
Commencement of operations September 16, 2013.
(e)
The period is from January 1, 2014 through the date the Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund was acquired by Curian/Nicholas Convertible Arbitrage Fund on April 28, 2014.  Unit values disclosed are as of April 25, 2014.
 
95
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
Curian/Schroder Emerging Europe Fund(c)
    
Curian/T. Rowe Price Capital Appreciation Fund(d)
    
Curian/The Boston Company Equity Income Fund(a)
    
Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund(a)(e)
    
Curian/UBS Global Long Short Fixed Income Opportunities Fund(c)
    
Curian/Van Eck International Gold Fund(b)
    
JNL Disciplined Growth Fund
    
JNL Disciplined Moderate Fund
    
JNL Disciplined Moderate Growth Fund
    
JNL Institutional Alt 20 Fund
  
                                                             
Investment Division data
                                                  
Period ended December 31, 2014
                                          
                                                             
   Net Assets (in thousands)
   $ 2,421     $ 84,808     $ 46,575     $ —     $ 14,946     $ 26,145     $ 650,863     $ 1,200,467     $ 1,472,586     $ 1,687,366  
   Units Outstanding (in thousands)
     325       7,297       2,913       —       1,599       6,071       55,249       92,418       116,853       100,924  
   Investment Income Ratio *
     3.11 %     1.18 %     0.08 %     0.00 %     0.00 %     0.31 %     1.63 %     2.22 %     1.88 %     1.70 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 1,539     $ 9,228     $ 28,342     $ 18,424     $ 7,720     $ 11,291     $ 521,713     $ 1,026,832     $ 1,216,735     $ 1,697,533  
   Units Outstanding (in thousands)
     149       878       1,948       1,865       781       2,436       45,866       82,176       100,110       102,360  
   Investment Income Ratio *
     2.80 %     0.66 %     2.03 %     0.00 %     0.00 %     0.24 %     0.98 %     1.38 %     1.18 %     2.03 %
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Net Assets (in thousands)
     n/a       n/a     $ 3,063     $ 9,911       n/a     $ 5,078     $ 299,069     $ 710,906     $ 766,027     $ 1,348,029  
   Units Outstanding (in thousands)
     n/a       n/a       285       984       n/a       565       32,169       65,742       76,258       91,277  
   Investment Income Ratio *
     n/a       n/a       2.66 %     0.00 %     n/a       0.00 %     1.28 %     1.64 %     1.48 %     1.63 %
                                                                                 
Period ended December 31, 2011
                                                          
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a     $ 168,700     $ 427,042     $ 473,993     $ 871,892  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       20,490       44,150       53,139       64,683  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       1.09 %     1.34 %     1.12 %     1.00 %
                                                                                 
Period ended December 31, 2010
                                                    
                                                                                 
   Net Assets (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a     $ 128,516     $ 322,588     $ 350,989     $ 591,940  
   Units Outstanding (in thousands)
     n/a       n/a       n/a       n/a       n/a       n/a       14,919       33,094       38,463       42,185  
   Investment Income Ratio *
     n/a       n/a       n/a       n/a       n/a       n/a       1.41 %     1.11 %     1.20 %     0.70 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations February 6, 2012.
(b)
Commencement of operations September 10, 2012.
(c)
Commencement of operations April 29, 2013.
(d)
Commencement of operations September 16, 2013.
(e)
The period is from January 1, 2014 through the date the Curian/The Boston Company Multi-Alpha Market Neutral Equity Fund was acquired by Curian/Nicholas Convertible Arbitrage Fund on April 28, 2014.  Unit values disclosed are as of April 25, 2014.
 
96
 
Jackson National Separate Account I
                                                  
Notes to Financial Statements (continued)
                                      
                                                             
Note 7 - Financial Highlights (continued)
                                                        
                                                             
                                                             
                                                             
   
JNL Institutional Alt 35 Fund
    
JNL Institutional Alt 50 Fund
    
JNL Institutional Alt 65 Fund
    
JNL/ AllianceBernstein Dynamic Asset Allocation Fund(c)
    
JNL/American Funds Balanced Allocation Fund(b)
    
JNL/American Funds Blue Chip Income and Growth Fund(a)
    
JNL/American Funds Global Bond Fund(a)
    
JNL/American Funds Global Small Capitalization Fund(a)
    
JNL/American Funds Growth Allocation Fund(b)
    
JNL/American Funds Growth-Income Fund(a)
  
                                                             
Highest expense ratio
                                              
Period ended December 31, 2014
                                          
                                                             
   Unit Value
   $ 15.597831     $ 15.066773     $ 15.363890     $ 10.190116     $ 11.528573     $ 15.152218     $ 9.771061     $ 11.956709     $ 12.170692     $ 15.088660  
   Total Return *
     -1.16 %     -1.75 %     -1.96 %     1.50 %***     1.09 %     11.19 %     -1.97 %     -1.26 %     1.15 %     6.76 %
   Ratio of Expenses **
     3.05 %     3.61 %     3.61 %     1.25 %     3.095 %     3.36 %     3.16 %     3.06 %     2.845 %     3.16 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 15.780815     $ 15.334913     $ 15.671773       n/a     $ 11.404526     $ 13.627303     $ 9.967742     $ 12.109692     $ 12.032273     $ 14.133382  
   Total Return *
     9.08 %     6.44 %     5.61 %     n/a       5.14 %***     28.05 %     -5.97 %     24.04 %     17.47 %     28.80 %
   Ratio of Expenses **
     3.05 %     3.61 %     3.61 %     n/a       3.095 %     3.36 %     3.16 %     3.06 %     2.845 %     3.16 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 14.467107     $ 14.406968     $ 14.838820       n/a     $ 10.232479     $ 10.641810     $ 10.600572     $ 9.762384     $ 10.242546     $ 10.973233  
   Total Return *
     7.97 %     6.93 %     7.01 %     n/a       4.92 %***     9.67 %     2.48 %     14.34 %     0.92 %***     13.28 %
   Ratio of Expenses **
     3.05 %     3.61 %     3.61 %     n/a       2.71 %     3.36 %     3.16 %     3.06 %     2.845 %     3.16 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Unit Value
   $ 13.398793     $ 13.472850     $ 13.866809       n/a       n/a     $ 9.703216     $ 10.344191     $ 8.538274       n/a     $ 9.687223  
   Total Return *
     -6.69 %     -8.00 %     -8.78 %     n/a       n/a       -4.51 %     0.25 %***     -21.85 %     n/a       -5.34 %
   Ratio of Expenses **
     3.05 %     3.61 %     3.61 %     n/a       n/a       3.36 %     3.16 %     3.06 %     n/a       3.16 %
                                                                                 
Period ended December 31, 2010
                                                    
                                                                                 
   Unit Value
   $ 14.360051     $ 14.644693     $ 15.200878       n/a       n/a     $ 10.161091     $ 10.254727     $ 10.926025       n/a     $ 10.233282  
   Total Return *
     9.17 %***     10.51 %***     11.74 %     n/a       n/a       9.13 %***     3.64 %***     15.68 %***     n/a       7.04 %***
   Ratio of Expenses **
     3.05 %     3.61 %     3.61 %     n/a       n/a       3.36 %     2.845 %     3.06 %     n/a       3.16 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations May 3, 2010.
(b)
Commencement of operations April 30, 2012.
(c)
Commencement of operations April 28, 2014.
 
97
 
 
 
Jackson National Separate Account I
                                                  
Notes to Financial Statements (continued)
                                      
                                                             
Note 7 - Financial Highlights (continued)
                                                  
                                                             
                                                             
                                                             
   
JNL Institutional Alt 35 Fund
    
JNL Institutional Alt 50 Fund
    
JNL Institutional Alt 65 Fund
    
JNL/ AllianceBernstein Dynamic Asset Allocation Fund(c)
    
JNL/American Funds Balanced Allocation Fund(b)
    
JNL/American Funds Blue Chip Income and Growth Fund(a)
    
JNL/American Funds Global Bond Fund(a)
    
JNL/American Funds Global Small Capitalization Fund(a)
    
JNL/American Funds Growth Allocation Fund(b)
    
JNL/American Funds Growth-Income Fund(a)
  
                                                             
Lowest expense ratio
                                              
Period ended December 31, 2014
                                        
                                                             
   Unit Value
   $ 17.544505     $ 17.500552     $ 17.845286     $ 10.217741     $ 12.192220     $ 16.914989     $ 10.804894     $ 13.162274     $ 12.785507     $ 16.804732  
   Total Return *
     0.89 %     0.85 %     0.63 %***     -0.04 %***     3.23 %***     13.85 %     0.17 %     0.79 %     3.03 %***      9.25 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     0.85 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %      0.85 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 17.390028     $ 17.353083     $ 17.650593       n/a     $ 11.791486     $ 14.857839     $ 10.786833     $ 13.058859     $ 12.388475     $ 15.381331  
   Total Return *
     11.34 %     9.26 %     8.30 %     n/a       14.00 %     31.11 %     -3.92 %     26.63 %     19.54 %      31.81 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.10 %     n/a       1.10 %     1.00 %     1.00 %     1.00 %     1.10 %      0.85 %
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Unit Value
   $ 15.619143     $ 15.882983     $ 16.298169       n/a     $ 10.343515     $ 11.332119     $ 11.226519     $ 10.312913     $ 10.363348     $ 11.669432  
   Total Return *
     10.22 %     9.77 %     9.74 %     n/a       8.83 %***     12.30 %     4.71 %     16.72 %     1.97 %***      2.11 %***
   Ratio of Expenses **
     1.00 %     1.00 %     1.10 %     n/a       1.10 %     1.00 %     1.00 %     1.00 %     1.10 %      0.85 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Unit Value
   $ 14.171169     $ 14.469467     $ 14.851990       n/a       n/a     $ 10.090978     $ 10.721765     $ 8.835361       n/a     $ 10.041099  
   Total Return *
     -8.52 %***     -9.64 %***     -6.46 %     n/a       n/a       -6.39 %***     3.28 %     -22.38 %***     n/a       -3.27 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.10 %     n/a       n/a       1.00 %     1.00 %     1.00 %     n/a       1.00 %
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Unit Value
   $ 14.854626     $ 15.297268     $ 15.878350       n/a       n/a     $ 10.314502     $ 10.380934     $ 11.068974       n/a     $ 10.380945  
   Total Return *
     13.11 %     13.65 %     14.59 %     n/a       n/a       10.72 %***     0.95 %***     20.23 %***     n/a       5.26 %***
   Ratio of Expenses **
     1.10 %     1.10 %     1.10 %     n/a       n/a       1.10 %     1.00 %     1.10 %     n/a       1.00 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations May 3, 2010.
(b)
Commencement of operations April 30, 2012.
(c)
Commencement of operations April 28, 2014.
 
98
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL Institutional Alt 35 Fund
    
JNL Institutional Alt 50 Fund
    
JNL Institutional Alt 65 Fund
    
JNL/ AllianceBernstein Dynamic Asset Allocation Fund(c)
    
JNL/American Funds Balanced Allocation Fund(b)
    
JNL/American Funds Blue Chip Income and Growth Fund(a)
    
JNL/American Funds Global Bond Fund(a)
    
JNL/American Funds Global Small Capitalization Fund(a)
    
JNL/American Funds Growth Allocation Fund(b)
    
JNL/American Funds Growth-Income Fund(a)
  
                                                             
Investment Division data
                                                  
Period ended December 31, 2014
                                        
                                                             
   Net Assets (in thousands)
   $ 2,248,151     $ 3,167,812     $ 622,021     $ 18,690     $ 749,737     $ 1,747,477     $ 467,956     $ 370,905     $ 640,593     $ 2,316,145  
   Units Outstanding (in thousands)
     131,465       185,953       35,831       1,831       62,247       105,560       44,301       28,756       50,703       141,489  
   Investment Income Ratio *
     1.60 %     1.48 %     1.46 %     0.93 %     1.02 %     1.14 %     0.01 %     0.22 %     0.77 %     0.68 %
                                                                                 
Period ended December 31, 2013
                                                      
                                                                                 
   Net Assets (in thousands)
   $ 2,315,267     $ 3,197,208     $ 746,748       n/a     $ 439,310     $ 1,145,063     $ 433,086     $ 316,078     $ 357,689     $ 1,561,325  
   Units Outstanding (in thousands)
     136,061       188,513       43,103       n/a       37,487       78,386       40,893       24,614       29,048       103,723  
   Investment Income Ratio *
     1.67 %     1.31 %     1.00 %     n/a       0.78 %     1.17 %     2.11 %     0.70 %     0.61 %     0.83 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Net Assets (in thousands)
   $ 1,954,019     $ 2,705,104     $ 868,140       n/a     $ 142,838     $ 658,754     $ 445,074     $ 192,196     $ 100,620     $ 815,499  
   Units Outstanding (in thousands)
     127,331       173,523       54,075       n/a       13,849       58,871       40,202       18,876       9,734       71,037  
   Investment Income Ratio *
     1.78 %     1.88 %     2.38 %     n/a       0.00 %     1.02 %     2.05 %     0.73 %     0.00 %     0.85 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Net Assets (in thousands)
   $ 1,349,313     $ 1,759,138     $ 942,913       n/a       n/a     $ 379,981     $ 322,987     $ 121,399       n/a     $ 430,286  
   Units Outstanding (in thousands)
     96,468       123,288       64,231       n/a       n/a       37,953       30,387       13,853       n/a       43,195  
   Investment Income Ratio *
     0.88 %     0.86 %     0.73 %     n/a       n/a       0.67 %     1.01 %     0.37 %     n/a       0.53 %
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Net Assets (in thousands)
   $ 866,696     $ 1,045,302     $ 686,359       n/a       n/a     $ 139,612     $ 99,514     $ 74,487       n/a     $ 164,649  
   Units Outstanding (in thousands)
     58,741       68,822       43,558       n/a       n/a       13,568       9,619       6,748       n/a       15,914  
   Investment Income Ratio *
     0.76 %     0.77 %     0.67 %     n/a       n/a       0.00 %     0.00 %     0.00 %     n/a       0.00 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations May 3, 2010.
(b)
Commencement of operations April 30, 2012.
(c)
Commencement of operations April 28, 2014.
 
99
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/American Funds International Fund(a)
    
JNL/American Funds New World Fund(a)
    
JNL/AQR Managed Futures Strategy Fund(c)
    
JNL/BlackRock Commodity Securities Strategy Fund
    
JNL/BlackRock Global Allocation Fund(b)
    
JNL/BlackRock Large Cap Select Growth Fund
    
JNL/Boston Partners Global Long Short Equity Fund(e)
    
JNL/Brookfield Global Infrastructure and MLP Fund(d)
    
JNL/Capital Guardian Global Balanced Fund
    
JNL/Capital Guardian Global Diversified Research Fund
  
                                                             
Highest expense ratio
                                                    
Period ended December 31, 2014
                                          
                                                             
   Unit Value
   $ 10.950184     $ 10.036717     $ 11.193091     $ 7.800985     $ 10.905275     $ 26.763737     $ 9.823957     $ 14.820786     $ 9.741960     $ 21.719323  
   Total Return *
     -6.24 %     -11.07 %     7.73 %     -17.36 %     -1.76 %     5.02 %     -0.94 %***     4.08 %     -3.26 %     -1.53 %
   Ratio of Expenses **
     3.36 %     3.16 %     1.25 %     3.695 %     3.61 %     3.61 %     1.25 %     3.095 %     3.86 %     3.86 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Unit Value
   $ 11.679176     $ 11.285850     $ 10.389716     $ 9.439520     $ 11.100488     $ 25.483258       n/a     $ 14.240412     $ 10.070530     $ 22.056040  
   Total Return *
     17.10 %     7.43 %     5.75 %     5.54 %     10.26 %     34.06 %     n/a       19.68 %     11.17 %     18.57 %
   Ratio of Expenses **
     3.36 %     3.16 %     1.25 %     3.695 %     3.61 %     3.61 %     n/a       3.095 %     3.86 %     3.86 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 9.973414     $ 10.504839     $ 9.824353     $ 8.944331     $ 10.067701     $ 19.008526       n/a     $ 11.899161     $ 9.058602     $ 18.602188  
   Total Return *
     13.52 %     13.72 %     4.11 %***     -2.88 %     5.69 %     6.68 %     n/a       1.43 %***     8.75 %     12.58 %
   Ratio of Expenses **
     3.36 %     3.16 %     1.25 %     3.695 %     3.61 %     3.61 %     n/a       3.095 %     3.86 %     3.86 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Unit Value
   $ 8.785597     $ 9.237794       n/a     $ 9.209368     $ 9.525680     $ 17.818001       n/a     $ 10.347709     $ 8.329723     $ 16.523644  
   Total Return *
     -17.20 %     -16.96 %     n/a       -10.72 %     -7.22 %     -2.81 %     n/a       3.30 %***     -8.35 %     -8.11 %
   Ratio of Expenses **
     3.36 %     3.16 %     n/a       3.695 %     3.61 %     3.61 %     n/a       2.395 %     3.86 %     3.86 %
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Unit Value
   $ 10.610960     $ 11.124419       n/a     $ 10.315078     $ 10.267439     $ 18.334060       n/a       n/a     $ 9.088924     $ 17.982846  
   Total Return *
     7.01 %***     2.97 %***     n/a       13.18 %     2.04 %***     4.02 %***     n/a       n/a       4.89 %     7.54 %
   Ratio of Expenses **
     3.36 %     3.16 %     n/a       3.695 %     3.61 %     3.61 %     n/a       n/a       3.86 %     3.86 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations May 3, 2010.
(b)
Commencement of operations October 11, 2010.
(c)
Commencement of operations August 29, 2011.
(d)
Commencement of operations December 12, 2011.
(e)
Commencement of operations September 15, 2014.
 
100
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/American Funds International Fund(a)
    
JNL/American Funds New World Fund(a)
    
JNL/AQR Managed Futures Strategy Fund(c)
    
JNL/BlackRock Commodity Securities Strategy Fund
    
JNL/BlackRock Global Allocation Fund(b)
    
JNL/BlackRock Large Cap Select Growth Fund
    
JNL/Boston Partners Global Long Short Equity Fund(e)
    
JNL/Brookfield Global Infrastructure and MLP Fund(d)
    
JNL/Capital Guardian Global Balanced Fund
    
JNL/Capital Guardian Global Diversified Research Fund
  
                                                             
Lowest expense ratio
                                                
Period ended December 31, 2014
                                        
                                                             
   Unit Value
   $ 12.309601     $ 11.100310     $ 11.343131     $ 9.782449     $ 12.252870     $ 44.690461     $ 9.835465     $ 15.872403     $ 14.820796     $ 38.084548  
   Total Return *
     -3.86 %     -9.13 %     8.16 %     -14.97 %     0.99 %     7.80 %     1.46 %***     6.44 %     -0.46 %     1.33 %
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     0.85 %     0.85 %     1.00 %     0.85 %     0.85 %     1.00 %     1.00 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Unit Value
   $ 12.803656     $ 12.215079     $ 10.486958     $ 11.505133     $ 12.132655     $ 41.455971       n/a     $ 14.912251     $ 14.888685     $ 37.584509  
   Total Return *
     6.10 %***     9.78 %     6.18 %     8.58 %     13.34 %     37.61 %     n/a       22.39 %     14.40 %     22.01 %
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     0.85 %     0.85 %     1.00 %     n/a       0.85 %     1.00 %     1.00 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 10.620354     $ 11.126783     $ 9.876725     $ 10.595790     $ 10.704258     $ 30.126232       n/a     $ 12.184270     $ 13.014978     $ 30.805189  
   Total Return *
     16.24 %     16.21 %     5.06 %***     14.31 %***     5.99 %***     9.51 %     n/a       7.91 %***     11.91 %     15.85 %
   Ratio of Expenses **
     1.00 %     1.00 %     0.85 %     0.85 %     0.85 %     1.00 %     n/a       0.85 %     1.00 %     1.00 %
                                                                                 
Period ended December 31, 2011
                                                            
                                                                                 
   Unit Value
   $ 9.136696     $ 9.575052       n/a     $ 10.524754     $ 9.833592     $ 27.509862       n/a     $ 9.044877     $ 11.629393     $ 26.589486  
   Total Return *
     -19.39 %***     -17.68 %***     n/a       -8.29 %     -4.85 %***     -0.25 %     n/a       -9.72 %***     -5.70 %     4.60 %***
   Ratio of Expenses **
     1.00 %     1.00 %     n/a       1.00 %     1.00 %     1.00 %     n/a       1.15 %     1.00 %     1.00 %
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Unit Value
   $ 10.771157     $ 11.277446       n/a     $ 11.475773     $ 10.324763     $ 27.579329       n/a       n/a     $ 12.332504     $ 27.688199  
   Total Return *
     16.37 %***     25.58 %***     n/a       16.27 %     2.89 %***     11.55 %     n/a       n/a       7.93 %     10.55 %
   Ratio of Expenses **
     1.10 %     1.10 %     n/a       1.00 %     1.10 %     1.00 %     n/a       n/a       1.00 %     1.10 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations May 3, 2010.
(b)
Commencement of operations October 11, 2010.
(c)
Commencement of operations August 29, 2011.
(d)
Commencement of operations December 12, 2011.
(e)
Commencement of operations September 15, 2014.
 
101
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/American Funds International Fund(a)
    
JNL/American Funds New World Fund(a)
    
JNL/AQR Managed Futures Strategy Fund(c)
    
JNL/BlackRock Commodity Securities Strategy Fund
    
JNL/BlackRock Global Allocation Fund(b)
    
JNL/BlackRock Large Cap Select Growth Fund
    
JNL/Boston Partners Global Long Short Equity Fund(e)
    
JNL/Brookfield Global Infrastructure and MLP Fund(d)
    
JNL/Capital Guardian Global Balanced Fund
    
JNL/Capital Guardian Global Diversified Research Fund
  
                                                             
Investment Division data
                                                  
Period ended December 31, 2014
                                      
                                                             
   Net Assets (in thousands)
   $ 679,179     $ 701,141     $ 99,750     $ 843,028     $ 3,274,351     $ 693,281     $ 3,303     $ 853,801     $ 449,387     $ 408,782  
   Units Outstanding (in thousands)
     56,638       64,512       8,855       90,488       273,649       17,193       336       54,691       32,538       12,123  
   Investment Income Ratio *
     0.76 %     0.84 %     2.77 %     0.00 %     0.74 %     0.00 %     0.00 %     0.71 %     0.90 %     0.77 %
                                                                                 
Period ended December 31, 2013
                                                
                                                                                 
   Net Assets (in thousands)
   $ 531,621     $ 617,704     $ 75,699     $ 959,276     $ 2,635,571     $ 596,971       n/a     $ 395,362     $ 460,257     $ 402,702  
   Units Outstanding (in thousands)
     42,420       51,450       7,255       87,201       221,416       15,995       n/a       26,810       33,129       12,088  
   Investment Income Ratio *
     0.85 %     0.56 %     5.22 %     0.39 %     0.63 %     0.03 %     n/a       0.85 %     1.71 %     1.25 %
                                                                                 
Period ended December 31, 2012
                                                            
                                                                                 
   Net Assets (in thousands)
   $ 340,653     $ 443,043     $ 20,520     $ 891,760     $ 1,525,570     $ 444,455       n/a     $ 100,565     $ 394,421     $ 329,409  
   Units Outstanding (in thousands)
     32,462       40,340       2,083       87,617       144,546       16,379       n/a       8,305       32,328       12,054  
   Investment Income Ratio *
     1.20 %     1.08 %     0.00 %     0.00 %     0.00 %     0.15 %     n/a       0.07 %     2.04 %     1.22 %
                                                                                 
Period ended December 31, 2011
                                                            
                                                                                 
   Net Assets (in thousands)
   $ 200,814     $ 261,975       n/a     $ 797,267     $ 494,125     $ 424,724       n/a     $ 981     $ 351,568     $ 286,172  
   Units Outstanding (in thousands)
     22,150       27,587       n/a       77,839       50,563       17,111       n/a       95       32,124       12,111  
   Investment Income Ratio *
     0.72 %     0.60 %     n/a       0.58 %     0.67 %     0.34 %     n/a       0.00 %     1.08 %     0.94 %
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 97,917     $ 128,284       n/a     $ 685,623     $ 172,036     $ 395,677       n/a       n/a     $ 339,313     $ 289,989  
   Units Outstanding (in thousands)
     9,113       11,407       n/a       61,152       16,678       15,939       n/a       n/a       29,149       11,595  
   Investment Income Ratio *
     0.00 %     0.00 %     n/a       0.36 %     0.00 %     0.27 %     n/a       n/a       1.11 %     0.73 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations May 3, 2010.
(b)
Commencement of operations October 11, 2010.
(c)
Commencement of operations August 29, 2011.
(d)
Commencement of operations December 12, 2011.
(e)
Commencement of operations September 15, 2014.
 
102
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/DFA U.S. Core Equity Fund
    
JNL/Eagle SmallCap Equity Fund
    
JNL/Eastspring Investments Asia ex-Japan Fund
    
JNL/Eastspring Investments China-India Fund
    
JNL/Franklin Templeton Founding Strategy Fund
    
JNL/Franklin Templeton Global Growth Fund
    
JNL/Franklin Templeton Global Multisector Bond Fund(a)
    
JNL/Franklin Templeton Income Fund
    
JNL/Franklin Templeton International Small Cap Growth Fund
    
JNL/Franklin Templeton Mutual Shares Fund
  
                                                             
Highest expense ratio
                                                  
Period ended December 31, 2014
                                    
                                                             
   Unit Value
   $ 18.490528     $ 25.094707     $ 7.354734     $ 6.762681     $ 10.110812     $ 9.162504     $ 11.133070     $ 11.691774     $ 8.470816     $ 10.637323  
   Total Return *
     6.15 %     -1.15 %     1.91 %     7.45 %     -0.97 %     -5.83 %     -3.45 %     -0.42 %     -12.63 %     3.98 %
   Ratio of Expenses **
     3.40 %     3.91 %     3.61 %     3.61 %     3.61 %     3.61 %     3.06 %     3.56 %     3.61 %     3.145 %
                                                                                 
Period ended December 31, 2013
                                                      
                                                                                 
   Unit Value
   $ 17.418947     $ 25.385548     $ 7.216675     $ 6.293696     $ 10.210041     $ 9.729365     $ 11.530902     $ 11.741541     $ 9.695790     $ 10.230559  
   Total Return *
     30.65 %     25.47 %     -9.38 %     -5.81 %     19.57 %     25.73 %     0.41 %     10.09 %     27.72 %     24.32 %
   Ratio of Expenses **
     3.40 %     3.91 %     3.61 %     3.61 %     3.61 %     3.61 %     3.06 %     3.56 %     3.61 %     3.145 %
                                                                                 
Period ended December 31, 2012
                                                    
                                                                                 
   Unit Value
   $ 13.332700     $ 20.232227     $ 7.963310     $ 6.681762     $ 8.538913     $ 7.738394     $ 11.484302     $ 10.665178     $ 7.591647     $ 8.229251  
   Total Return *
     9.89 %     9.46 %     18.19 %     19.09 %     11.83 %     17.72 %     8.62 %***     8.27 %     22.74 %     10.14 %
   Ratio of Expenses **
     3.40 %     3.91 %     3.61 %     3.61 %     3.61 %     3.61 %     3.06 %     3.56 %     3.61 %     3.145 %
                                                                                 
Period ended December 31, 2011
                                                  
                                                                                 
   Unit Value
   $ 12.133220     $ 18.484335     $ 6.737610     $ 5.610913     $ 7.635375     $ 6.573777     $ 10.047064     $ 9.850961     $ 6.185254     $ 7.471934  
   Total Return *
     -4.15 %     -6.05 %     -23.98 %     -30.44 %     -4.85 %     -9.40 %     -0.11 %***     -1.04 %     -17.41 %     -3.73 %
   Ratio of Expenses **
     3.40 %     3.91 %     3.61 %     3.61 %     3.61 %     3.61 %     2.60 %     3.56 %     3.61 %     3.145 %
                                                                                 
Period ended December 31, 2010
                                                
                                                                                 
   Unit Value
   $ 12.658211     $ 19.673973     $ 8.863133     $ 8.066327     $ 8.024647     $ 7.256056       n/a     $ 9.954979     $ 7.488896     $ 7.761267  
   Total Return *
     8.12 %     30.45 %     15.17 %     12.78 %     6.47 %     3.27 %     n/a       8.63 %     16.27 %     8.00 %
   Ratio of Expenses **
     3.40 %     3.91 %     3.61 %     3.61 %     3.61 %     3.61 %     n/a       3.56 %     3.61 %     3.145 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations December 12, 2011.
 
103
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/DFA U.S. Core Equity Fund
    
JNL/Eagle SmallCap Equity Fund
    
JNL/Eastspring Investments Asia ex-Japan Fund
    
JNL/Eastspring Investments China-India Fund
    
JNL/Franklin Templeton Founding Strategy Fund
    
JNL/Franklin Templeton Global Growth Fund
    
JNL/Franklin Templeton Global Multisector Bond Fund(a)
    
JNL/Franklin Templeton Income Fund
    
JNL/Franklin Templeton International Small Cap Growth Fund
    
JNL/Franklin Templeton Mutual Shares Fund
  
                                                             
Lowest expense ratio
                                            
Period ended December 31, 2014
                                        
                                                             
   Unit Value
   $ 29.480809     $ 42.740674     $ 8.941792     $ 8.222087     $ 12.445079     $ 11.276954     $ 11.909965     $ 14.787338     $ 10.298111     $ 12.616592  
   Total Return *
     8.89 %***     1.77 %     4.77 %     10.46 %     1.65 %     -3.34 %***     -1.29 %     2.31 %     -10.19 %     6.23 %
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     0.85 %     1.00 %     1.00 %     0.85 %     0.85 %     0.85 %     1.00 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 26.381392     $ 41.995913     $ 8.535085     $ 7.443575     $ 12.243449     $ 11.585596     $ 12.065929     $ 14.453221     $ 11.466425     $ 11.876608  
   Total Return *
     33.82 %     29.18 %     -6.84 %     -3.17 %     22.73 %     28.92 %     2.65 %     7.41 %***     31.29 %     27.02 %
   Ratio of Expenses **
     1.00 %     1.00 %     0.85 %     0.85 %     1.00 %     1.10 %     0.85 %     0.85 %     0.85 %     1.00 %
                                                                                 
Period ended December 31, 2012
                                                      
                                                                                 
   Unit Value
   $ 19.713784     $ 32.510616     $ 9.161710     $ 7.687385     $ 9.975693     $ 8.986353     $ 11.754500     $ 12.650659     $ 8.733615     $ 9.350544  
   Total Return *
     12.56 %     12.70 %     1.96 %***     2.48 %***     14.80 %     20.72 %     13.28 %***     11.08 %     26.34 %***     12.53 %
   Ratio of Expenses **
     1.00 %     1.00 %     0.85 %     0.85 %     1.00 %     1.10 %     0.85 %     1.00 %     0.85 %     1.00 %
                                                                                 
Period ended December 31, 2011
                                                    
                                                                                 
   Unit Value
   $ 17.513600     $ 28.847748     $ 7.494181     $ 6.241003     $ 8.689677     $ 7.444175     $ 10.054309     $ 11.388721     $ 6.851335     $ 8.309360  
   Total Return *
     -1.83 %     -3.28 %     -21.98 %     -28.61 %     -2.34 %     -7.11 %     0.75 %***     1.51 %     -15.31 %     -1.65 %***
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.10 %     1.15 %     1.00 %     1.10 %     1.00 %
                                                                                 
Period ended December 31, 2010
                                                    
                                                                                 
   Unit Value
   $ 17.839236     $ 29.826055     $ 9.605093     $ 8.741630     $ 8.897977     $ 8.013670       n/a     $ 11.218832     $ 8.090292     $ 8.415078  
   Total Return *
     10.74 %     34.30 %     18.22 %     15.76 %     9.29 %     5.90 %     n/a       11.45 %     19.23 %     10.24 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.10 %     n/a       1.00 %     1.10 %     1.10 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations December 12, 2011.
 
104
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/DFA U.S. Core Equity Fund
    
JNL/Eagle SmallCap Equity Fund
    
JNL/Eastspring Investments Asia ex-Japan Fund
    
JNL/Eastspring Investments China-India Fund
    
JNL/Franklin Templeton Founding Strategy Fund
    
JNL/Franklin Templeton Global Growth Fund
    
JNL/Franklin Templeton Global Multisector Bond Fund(a)
    
JNL/Franklin Templeton Income Fund
    
JNL/Franklin Templeton International Small Cap Growth Fund
    
JNL/Franklin Templeton Mutual Shares Fund
  
                                                             
Investment Division data
                                                
Period ended December 31, 2014
                                        
                                                             
   Net Assets (in thousands)
   $ 567,701     $ 1,096,101     $ 128,090     $ 349,714     $ 1,557,952     $ 521,536     $ 737,969     $ 1,997,944     $ 424,814     $ 625,966  
   Units Outstanding (in thousands)
     21,391       28,002       14,982       44,455       130,142       48,136       63,092       142,444       43,002       51,540  
   Investment Income Ratio *
     0.60 %     0.00 %     0.99 %     0.86 %     1.63 %     0.82 %     3.83 %     3.33 %     0.81 %     0.77 %
                                                                                 
Period ended December 31, 2013
                                                    
                                                                                 
   Net Assets (in thousands)
   $ 370,944     $ 1,131,303     $ 123,981     $ 329,054     $ 1,467,588     $ 439,451     $ 600,386     $ 1,556,741     $ 419,451     $ 559,365  
   Units Outstanding (in thousands)
     15,206       29,432       15,122       45,975       124,335       38,995       50,412       113,194       38,005       48,751  
   Investment Income Ratio *
     1.01 %     0.08 %     1.24 %     0.93 %     2.02 %     1.44 %     2.51 %     4.10 %     1.10 %     0.91 %
                                                                                 
Period ended December 31, 2012
                                                  
                                                                                 
   Net Assets (in thousands)
   $ 181,723     $ 712,883     $ 140,464     $ 347,087     $ 1,153,798     $ 230,044     $ 297,966     $ 1,127,679     $ 241,752     $ 391,902  
   Units Outstanding (in thousands)
     9,997       23,891       15,874       46,690       119,513       26,253       25,535       92,341       28,647       43,187  
   Investment Income Ratio *
     0.93 %     0.00 %     0.64 %     0.75 %     2.20 %     1.65 %     0.34 %     4.85 %     1.60 %     1.54 %
                                                                                 
Period ended December 31, 2011
                                                    
                                                                                 
   Net Assets (in thousands)
   $ 136,793     $ 624,638     $ 100,655     $ 272,734     $ 1,002,736     $ 150,197     $ 3,209     $ 830,111     $ 159,531     $ 310,557  
   Units Outstanding (in thousands)
     8,442       23,617       13,732       44,632       118,697       20,586       319       75,202       23,703       38,323  
   Investment Income Ratio *
     0.56 %     0.00 %     0.41 %     0.34 %     1.46 %     0.95 %     0.00 %     4.30 %     1.52 %     2.60 %
                                                                                 
Period ended December 31, 2010
                                                    
                                                                                 
   Net Assets (in thousands)
   $ 109,852     $ 414,824     $ 141,098     $ 362,908     $ 980,170     $ 120,991       n/a     $ 647,703     $ 147,477     $ 242,092  
   Units Outstanding (in thousands)
     6,677       15,142       14,944       42,196       112,773       15,358       n/a       59,311       18,484       29,259  
   Investment Income Ratio *
     0.29 %     0.20 %     0.13 %     0.00 %     2.99 %     1.46 %     n/a       4.19 %     1.30 %     0.02 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations December 12, 2011.
 
105
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/Franklin Templeton Small Cap Value Fund
    
JNL/Goldman Sachs Core Plus Bond Fund
    
JNL/Goldman Sachs Emerging Markets Debt Fund
    
JNL/Goldman Sachs Mid Cap Value Fund
    
JNL/Goldman Sachs U.S. Equity Flex Fund
    
JNL/Invesco Global Real Estate Fund
    
JNL/Invesco International Growth Fund
    
JNL/Invesco Large Cap Growth Fund
    
JNL/Invesco Mid Cap Value Fund
    
JNL/Invesco Small Cap Growth Fund
  
                                                             
Highest expense ratio
                                                
Period ended December 31, 2014
                                      
                                                             
   Unit Value
   $ 14.571079     $ 15.820330     $ 11.055727     $ 16.217712     $ 11.754462     $ 13.446442     $ 12.454771     $ 13.791536     $ 18.854467     $ 19.493406  
   Total Return *
     -3.69 %     1.35 %     -8.31 %     8.80 %     10.49 %     10.84 %     -3.61 %     4.35 %     5.29 %     4.27 %
   Ratio of Expenses **
     3.91 %     3.91 %     3.61 %     3.91 %     3.06 %     3.71 %     3.91 %     3.75 %     3.695 %     3.51 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 15.129820     $ 15.609001     $ 12.057957     $ 14.906547     $ 10.638287     $ 12.131548     $ 12.920911     $ 13.217218     $ 17.907494     $ 18.695987  
   Total Return *
     29.23 %     -4.85 %     -11.11 %     27.64 %     30.15 %     -0.98 %     14.41 %     34.44 %     26.15 %     34.87 %
   Ratio of Expenses **
     3.91 %     3.91 %     3.61 %     3.91 %     3.06 %     3.71 %     3.91 %     3.75 %     3.695 %     3.51 %
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Unit Value
   $ 11.707585     $ 16.403977     $ 13.564714     $ 11.678392     $ 8.173614     $ 12.251585     $ 11.293065     $ 9.831170     $ 14.195139     $ 13.862312  
   Total Return *
     13.10 %     3.62 %     15.78 %     13.48 %     15.98 %     23.63 %     11.31 %     8.34 %     3.83 %     13.61 %
   Ratio of Expenses **
     3.91 %     3.91 %     3.61 %     3.91 %     3.06 %     3.71 %     3.91 %     3.75 %     3.695 %     3.51 %
                                                                                 
Period ended December 31, 2011
                                                          
                                                                                 
   Unit Value
   $ 10.351574     $ 15.830973     $ 11.716134     $ 10.291465     $ 7.047439     $ 9.910099     $ 10.145789     $ 9.074299     $ 13.672144     $ 12.202050  
   Total Return *
     -6.45 %     2.19 %     -8.04 %     -10.11 %     -13.32 %     -9.67 %     -10.45 %     -10.11 %     -9.08 %     -4.75 %
   Ratio of Expenses **
     3.91 %     3.91 %     3.61 %     3.91 %     3.06 %     3.71 %     3.91 %     3.75 %     3.695 %     3.51 %
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Unit Value
   $ 11.065011     $ 15.491362     $ 12.740806     $ 11.449489     $ 8.130127     $ 10.970794     $ 11.329284     $ 10.094858     $ 15.037352     $ 12.811152  
   Total Return *
     21.97 %     3.50 %     11.95 %     19.63 %     5.42 %     12.88 %     8.00 %     13.09 %     18.61 %     21.86 %
   Ratio of Expenses **
     3.91 %     3.91 %     3.61 %     3.91 %     3.06 %     3.71 %     3.91 %     3.75 %     3.695 %     3.51 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
106
 
Jackson National Separate Account I
                    
Notes to Financial Statements (continued)
                    
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/Franklin Templeton Small Cap Value Fund
    
JNL/Goldman Sachs Core Plus Bond Fund
    
JNL/Goldman Sachs Emerging Markets Debt Fund
    
JNL/Goldman Sachs Mid Cap Value Fund
    
JNL/Goldman Sachs U.S. Equity Flex Fund
    
JNL/Invesco Global Real Estate Fund
    
JNL/Invesco International Growth Fund
    
JNL/Invesco Large Cap Growth Fund
    
JNL/Invesco Mid Cap Value Fund
    
JNL/Invesco Small Cap Growth Fund
  
                                                             
Lowest expense ratio
                                              
Period ended December 31, 2014
                                        
                                                             
   Unit Value
   $ 19.585778     $ 28.017891     $ 13.131852     $ 21.486406     $ 14.013720     $ 17.727784     $ 22.716419     $ 19.814012     $ 29.683007     $ 27.674511  
   Total Return *
     -0.70 %     4.35 %     -5.75 %     12.01 %     7.88 %***     14.05 %     -0.61 %     7.25 %     8.16 %     7.08 %
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     1.00 %     0.85 %     0.85 %     0.85 %     1.00 %     1.00 %     0.85 %
                                                                                 
Period ended December 31, 2013
                                                            
                                                                                 
   Unit Value
   $ 19.723876     $ 26.850742     $ 13.932381     $ 19.182812     $ 12.277330     $ 15.543249     $ 22.856352     $ 18.473783     $ 27.442472     $ 25.845666  
   Total Return *
     33.25 %     -2.04 %     -8.62 %     31.41 %     32.86 %     1.89 %     17.97 %     38.19 %     29.60 %     38.51 %
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     1.00 %     1.00 %     0.85 %     0.85 %     1.00 %     1.00 %     0.85 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 14.802516     $ 27.408901     $ 15.246667     $ 14.597526     $ 9.240592     $ 15.254441     $ 19.374720     $ 13.368320     $ 21.174982     $ 18.660443  
   Total Return *
     16.84 %***     6.69 %     13.70 %***     16.84 %     18.40 %     10.94 %***     15.08 %***     11.37 %     6.67 %     11.09 %***
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     1.00 %     1.00 %     0.85 %     0.85 %     1.00 %     1.00 %     0.85 %
                                                                                 
Period ended December 31, 2011
                                                          
                                                                                 
   Unit Value
   $ 12.566719     $ 25.690746     $ 12.747546     $ 12.493934     $ 7.804539     $ 11.871410     $ 16.465808     $ 12.003511     $ 19.851042     $ 15.751828  
   Total Return *
     -3.69 %     5.20 %     -5.62 %     -7.47 %     -11.52 %     -7.19 %     -7.81 %     -7.61 %     -6.60 %     -2.34 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Unit Value
   $ 13.048587     $ 24.420522     $ 13.506371     $ 13.502182     $ 8.820425     $ 12.791583     $ 17.860560     $ 12.992248     $ 21.254205     $ 16.129274  
   Total Return *
     25.58 %     6.56 %     14.91 %     23.16 %     7.62 %     15.98 %     11.19 %     16.24 %     21.85 %     24.96 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
107
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/Franklin Templeton Small Cap Value Fund
    
JNL/Goldman Sachs Core Plus Bond Fund
    
JNL/Goldman Sachs Emerging Markets Debt Fund
    
JNL/Goldman Sachs Mid Cap Value Fund
    
JNL/Goldman Sachs U.S. Equity Flex Fund
    
JNL/Invesco Global Real Estate Fund
    
JNL/Invesco International Growth Fund
    
JNL/Invesco Large Cap Growth Fund
    
JNL/Invesco Mid Cap Value Fund
    
JNL/Invesco Small Cap Growth Fund
  
                                                             
Investment Division data
                                            
Period ended December 31, 2014
                                          
                                                             
   Net Assets (in thousands)
   $ 590,903     $ 774,773     $ 197,207     $ 718,036     $ 316,099     $ 1,284,168     $ 619,285     $ 565,050     $ 311,143     $ 608,506  
   Units Outstanding (in thousands)
     31,964       30,480       15,558       35,055       23,730       76,820       30,512       30,356       11,428       23,795  
   Investment Income Ratio *
     0.38 %     2.33 %     1.68 %     0.80 %     0.06 %     1.30 %     1.09 %     0.05 %     0.22 %     0.00 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 563,849     $ 605,070     $ 238,605     $ 553,903     $ 186,128     $ 925,175     $ 528,458     $ 511,566     $ 259,709     $ 475,736  
   Units Outstanding (in thousands)
     30,233       24,753       17,677       30,170       15,730       62,885       25,919       29,452       10,304       19,910  
   Investment Income Ratio *
     0.95 %     2.68 %     7.14 %     0.40 %     0.17 %     3.26 %     1.13 %     0.41 %     0.19 %     0.13 %
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 326,695     $ 732,593     $ 317,364     $ 370,054     $ 122,758     $ 722,381     $ 368,673     $ 328,821     $ 202,356     $ 220,180  
   Units Outstanding (in thousands)
     23,244       29,456       21,400       26,395       13,715       49,885       21,339       26,085       10,391       12,723  
   Investment Income Ratio *
     0.25 %     2.43 %     0.00 %     1.12 %     0.39 %     0.78 %     1.76 %     0.00 %     0.26 %     0.00 %
                                                                                 
Period ended December 31, 2011
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 261,576     $ 576,804     $ 325,784     $ 282,268     $ 92,895     $ 408,952     $ 283,951     $ 301,831     $ 206,248     $ 167,008  
   Units Outstanding (in thousands)
     21,600       24,660       26,008       23,437       12,224       35,711       18,827       26,626       11,308       11,220  
   Investment Income Ratio *
     0.28 %     2.12 %     4.64 %     0.63 %     0.12 %     2.76 %     0.70 %     0.16 %     0.67 %     0.00 %
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 235,996     $ 471,544     $ 363,805     $ 235,722     $ 109,598     $ 355,581     $ 273,458     $ 266,462     $ 196,396     $ 139,754  
   Units Outstanding (in thousands)
     18,698       21,206       27,289       18,038       12,702       28,708       16,716       21,671       10,055       9,144  
   Investment Income Ratio *
     0.48 %     2.52 %     1.30 %     0.60 %     0.66 %     4.61 %     0.82 %     0.28 %     0.52 %     0.00 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
108
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/Ivy Asset Strategy Fund
    
JNL/JPMorgan International Value Fund
    
JNL/JPMorgan MidCap Growth Fund
    
JNL/JPMorgan U.S. Government & Quality Bond Fund
    
JNL/Lazard Emerging Markets Fund
    
JNL/M&G Global Basics Fund(a)
    
JNL/MC 10 x 10 Fund
    
JNL/MC 25 Fund
    
JNL/MC Bond Index Fund
    
JNL/MC Communications Sector Fund
  
                                                             
Highest expense ratio
                                          
Period ended December 31, 2014
                                            
                                                             
   Unit Value
   $ 12.169467     $ 9.008259     $ 26.190385     $ 13.179311     $ 10.435151     $ 12.427481     $ 11.312659     $ 16.099934     $ 10.379965     $ 5.494634  
   Total Return *
     -7.44 %     -13.97 %     7.25 %     1.52 %     -8.62 %     -1.11 %     4.91 %     -1.91 %     1.56 %     1.68 %
   Ratio of Expenses **
     3.61 %     3.91 %     3.61 %     3.75 %     3.61 %     3.545 %     3.145 %     4.00 %     3.91 %     3.71 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Unit Value
   $ 13.147456     $ 10.470642     $ 24.419652     $ 12.981881     $ 11.419062     $ 12.567066     $ 10.783580     $ 16.413606     $ 10.220022     $ 5.403797  
   Total Return *
     19.27 %     16.82 %     37.00 %     -7.07 %     -4.60 %     0.83 %     23.75 %     31.49 %     -6.46 %     16.61 %
   Ratio of Expenses **
     3.61 %     3.91 %     3.61 %     3.75 %     3.61 %     3.545 %     3.145 %     4.00 %     3.91 %     3.71 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 11.023491     $ 8.963371     $ 17.824941     $ 13.968818     $ 11.969985     $ 12.463550     $ 8.714196     $ 12.482322     $ 10.925875     $ 4.634014  
   Total Return *
     13.09 %     12.65 %     12.11 %     -0.18 %     17.86 %     4.13 %     12.36 %     13.07 %     -0.37 %     15.94 %
   Ratio of Expenses **
     3.61 %     3.91 %     3.61 %     3.75 %     3.61 %     3.545 %     3.145 %     4.00 %     3.91 %     3.71 %
                                                                                 
Period ended December 31, 2011
                                                                
                                                                                 
   Unit Value
   $ 9.747802     $ 7.956627     $ 15.899613     $ 13.994311     $ 10.156056     $ 11.969358     $ 7.755443     $ 11.039085     $ 10.966479     $ 3.996745  
   Total Return *
     -10.77 %     -16.20 %     -9.22 %     5.80 %     -20.66 %     -14.95 %     -5.11 %     4.62 %     3.05 %     -6.70 %
   Ratio of Expenses **
     3.61 %     3.91 %     3.61 %     3.75 %     3.61 %     3.545 %     3.145 %     4.00 %     3.91 %     3.71 %
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Unit Value
   $ 10.923852     $ 9.494509     $ 17.514872     $ 13.226942     $ 12.800285     $ 14.073788     $ 8.173251     $ 10.552032     $ 10.641541     $ 4.283972  
   Total Return *
     1.72 %***     3.46 %     21.14 %     3.39 %     17.59 %     18.80 %     12.83 %     18.03 %     1.81 %     18.07 %
   Ratio of Expenses **
     3.61 %     3.91 %     3.61 %     3.75 %     3.61 %     3.545 %     3.145 %     4.00 %     3.91 %     3.71 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
The period is from January 1, 2014 through the date the JNL/M&G Global Basics Fund was acquired by JNL/Oppenheimer Global Growth Fund on April 28, 2014.  Unit values disclosed are as of April 25, 2014.
 
109
 
Jackson National Separate Account I
                        
Notes to Financial Statements (continued)
                  
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/Ivy Asset Strategy Fund
    
JNL/JPMorgan International Value Fund
    
JNL/JPMorgan MidCap Growth Fund
    
JNL/JPMorgan U.S. Government & Quality Bond Fund
    
JNL/Lazard Emerging Markets Fund
    
JNL/M&G Global Basics Fund(a)
    
JNL/MC 10 x 10 Fund
    
JNL/MC 25 Fund
    
JNL/MC Bond Index Fund
    
JNL/MC Communications Sector Fund
  
                                                             
Lowest expense ratio
                                                
Period ended December 31, 2014
                                      
                                                             
   Unit Value
   $ 14.069911     $ 14.705015     $ 45.031588     $ 23.291806     $ 13.255328     $ 14.313308     $ 13.234120     $ 25.626056     $ 15.434299     $ 8.560585  
   Total Return *
     -4.85 %     -11.43 %     10.25 %     0.30 %***     -6.06 %     -0.31 %     7.07 %     1.08 %     4.72 %     4.63 %
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     0.85 %     0.85 %     1.00 %     1.10 %     1.00 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 14.786813     $ 16.601959     $ 40.843937     $ 21.674062     $ 14.110266     $ 14.358472     $ 12.359803     $ 25.353152     $ 14.738494     $ 8.181687  
   Total Return *
     22.61 %     20.27 %     40.83 %     -4.47 %     -1.93 %     3.43 %     26.30 %     35.50 %     -3.55 %     14.72 %***
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     1.00 %     0.85 %     1.00 %     1.10 %     1.00 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 12.060489     $ 13.804428     $ 29.002075     $ 22.689155     $ 14.388358     $ 13.882337     $ 9.785758     $ 18.710849     $ 15.281543     $ 6.681961  
   Total Return *
     11.75 %***     15.99 %     9.41 %***     2.61 %     18.02 %***     6.82 %     14.69 %     16.53 %     -0.46 %***     19.14 %
   Ratio of Expenses **
     0.85 %     1.00 %     0.85 %     1.00 %     0.85 %     1.00 %     1.10 %     1.00 %     0.85 %     1.00 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Unit Value
   $ 10.338760     $ 11.901546     $ 24.544669     $ 22.112284     $ 11.774602     $ 12.995956     $ 8.532328     $ 16.057054     $ 14.655253     $ 5.608553  
   Total Return *
     -8.41 %     -13.73 %     -6.83 %     8.74 %     -18.57 %     -12.77 %     -3.16 %     7.79 %     6.09 %     -4.15 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.10 %     1.00 %     1.00 %     1.00 %
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Unit Value
   $ 11.288377     $ 13.795686     $ 26.343380     $ 20.334353     $ 14.458958     $ 14.897910     $ 8.810460     $ 14.896187     $ 13.814234     $ 5.851318  
   Total Return *
     8.72 %     6.51 %     24.35 %     6.28 %     20.70 %     21.86 %     15.16 %     21.63 %     4.82 %     21.31 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.10 %     1.00 %     1.00 %     1.00 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
The period is from January 1, 2014 through the date the JNL/M&G Global Basics Fund was acquired by JNL/Oppenheimer Global Growth Fund on April 28, 2014.  Unit values disclosed are as of April 25, 2014.
 
110
 
Jackson National Separate Account I
                    
Notes to Financial Statements (continued)
              
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/Ivy Asset Strategy Fund
    
JNL/JPMorgan International Value Fund
    
JNL/JPMorgan MidCap Growth Fund
    
JNL/JPMorgan U.S. Government & Quality Bond Fund
    
JNL/Lazard Emerging Markets Fund
    
JNL/M&G Global Basics Fund(a)
    
JNL/MC 10 x 10 Fund
    
JNL/MC 25 Fund
    
JNL/MC Bond Index Fund
    
JNL/MC Communications Sector Fund
  
                                                             
Investment Division data
                                              
Period ended December 31, 2014
                                      
                                                             
   Net Assets (in thousands)
   $ 2,903,055     $ 431,510     $ 740,281     $ 633,096     $ 492,895     $ —     $ 393,769     $ 866,941     $ 652,067     $ 122,345  
   Units Outstanding (in thousands)
     212,888       31,773       18,804       30,951       39,087       —       30,580       36,505       45,782       15,792  
   Investment Income Ratio *
     1.07 %     1.94 %     0.00 %     3.27 %     1.62 %     0.00 %     1.81 %     2.08 %     3.40 %     2.64 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 2,907,755     $ 439,950     $ 519,827     $ 544,463     $ 592,311     $ 62,756     $ 352,151     $ 943,196     $ 526,103     $ 127,354  
   Units Outstanding (in thousands)
     202,080       28,623       14,679       27,676       44,012       4,498       29,211       40,124       38,624       17,197  
   Investment Income Ratio *
     1.41 %     3.66 %     0.19 %     3.09 %     1.37 %     2.23 %     2.10 %     2.54 %     2.02 %     2.28 %
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 1,950,723     $ 312,525     $ 277,546     $ 825,483     $ 714,704     $ 65,953     $ 278,794     $ 601,581     $ 594,553     $ 92,760  
   Units Outstanding (in thousands)
     165,395       24,334       11,186       40,223       51,917       4,867       29,123       34,602       42,018       15,049  
   Investment Income Ratio *
     0.11 %     4.69 %     0.00 %     2.32 %     1.92 %     1.11 %     2.39 %     2.21 %     2.11 %     2.54 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Net Assets (in thousands)
   $ 1,322,819     $ 263,258     $ 199,952     $ 715,934     $ 738,739     $ 54,019     $ 244,930     $ 501,984     $ 597,160     $ 53,185  
   Units Outstanding (in thousands)
     129,612       23,696       9,357       35,866       64,678       4,233       29,259       33,587       43,197       10,225  
   Investment Income Ratio *
     0.15 %     2.74 %     0.00 %     2.84 %     1.00 %     0.20 %     1.49 %     2.59 %     2.94 %     2.69 %
                                                                                 
Period ended December 31, 2010
                                                      
                                                                                 
   Net Assets (in thousands)
   $ 843,628     $ 302,225     $ 171,540     $ 491,104     $ 973,071     $ 42,221     $ 228,626     $ 487,532     $ 533,405     $ 59,388  
   Units Outstanding (in thousands)
     75,384       23,388       7,588       26,522       69,140       2,870       26,356       35,167       40,776       10,912  
   Investment Income Ratio *
     0.01 %     2.81 %     0.00 %     2.71 %     0.59 %     0.79 %     2.09 %     2.46 %     2.62 %     2.66 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
The period is from January 1, 2014 through the date the JNL/M&G Global Basics Fund was acquired by JNL/Oppenheimer Global Growth Fund on April 28, 2014. 
 
111
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/MC Consumer Brands Sector Fund
    
JNL/MC Dow 10 Fund
    
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund(b)
    
JNL/MC Emerging Markets Index Fund(a)
    
JNL/MC European 30 Fund
    
JNL/MC Financial Sector Fund
    
JNL/MC Global 15 Fund
    
JNL/MC Global Alpha Fund
    
JNL/MC Healthcare Sector Fund
    
JNL/MC Index 5 Fund
  
                                                             
Highest expense ratio
                                                
Period ended December 31, 2014
                                            
                                                             
   Unit Value
   $ 15.868311     $ 10.132420     $ 14.100516     $ 8.792418     $ 13.007919     $ 8.592294     $ 12.909036     $ 8.855775     $ 18.342209     $ 11.201085  
   Total Return *
     6.88 %     5.49 %     3.82 %     -6.92 %     -9.38 %***     9.05 %     6.51 %     -4.12 %     20.70 %     1.57 %
   Ratio of Expenses **
     3.61 %     4.00 %     2.745 %     3.41 %     3.095 %     3.61 %     4.00 %     2.845 %     3.61 %     3.61 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Unit Value
   $ 14.846381     $ 9.605048     $ 13.581782     $ 9.445726     $ 13.923146     $ 7.879192     $ 12.119740     $ 9.236370     $ 15.196576     $ 11.028228  
   Total Return *
     36.10 %     25.40 %     8.18 %***     -7.37 %     26.68 %     28.62 %     8.86 %     -4.14 %     35.89 %     19.36 %
   Ratio of Expenses **
     3.61 %     4.00 %     2.745 %     3.41 %     3.05 %     3.61 %     4.00 %     2.845 %     3.61 %     3.61 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 10.908085     $ 7.659550     $ 10.050283     $ 10.197331     $ 10.990367     $ 6.125976     $ 11.133770     $ 9.635187     $ 11.182591     $ 9.239827  
   Total Return *
     19.08 %     6.89 %     -1.04 %***     4.72 %***     5.37 %     21.64 %     18.08 %     -4.65 %     14.34 %     9.90 %
   Ratio of Expenses **
     3.61 %     4.00 %     2.495 %     3.41 %     3.05 %     3.61 %     4.00 %     2.845 %     3.61 %     3.61 %
                                                                                 
Period ended December 31, 2011
                                                            
                                                                                 
   Unit Value
   $ 9.160024     $ 7.166008       n/a     $ 8.995976     $ 10.430452     $ 5.036198     $ 9.429313     $ 10.104784     $ 9.780146     $ 8.407176  
   Total Return *
     2.77 %     13.37 %     n/a       -1.25 %***     -10.13 %     -15.97 %     -11.85 %     0.00 %     6.96 %     -5.55 %
   Ratio of Expenses **
     3.61 %     4.00 %     n/a       2.76 %     3.05 %     3.61 %     4.00 %     2.845 %     3.61 %     3.61 %
                                                                                 
Period ended December 31, 2010
                                                            
                                                                                 
   Unit Value
   $ 8.913488     $ 6.321014       n/a       n/a     $ 11.605989     $ 5.993357     $ 10.697139     $ 10.104302     $ 9.143940     $ 8.900767  
   Total Return *
     23.58 %***     19.77 %     n/a       n/a       -3.53 %***     9.46 %     10.19 %     2.13 %***     0.19 %***     11.68 %
   Ratio of Expenses **
     3.61 %     4.00 %     n/a       n/a       3.05 %     3.61 %     4.00 %     2.845 %     3.61 %     3.61 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations August 29, 2011.
(b)
Commencement of operations April 30, 2012.
 
112
 
Jackson National Separate Account I
                      
Notes to Financial Statements (continued)
                  
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/MC Consumer Brands Sector Fund
    
JNL/MC Dow 10 Fund
    
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund(b)
    
JNL/MC Emerging Markets Index Fund(a)
    
JNL/MC European 30 Fund
    
JNL/MC Financial Sector Fund
    
JNL/MC Global 15 Fund
    
JNL/MC Global Alpha Fund
    
JNL/MC Healthcare Sector Fund
    
JNL/MC Index 5 Fund
  
                                                             
Lowest expense ratio
                                            
Period ended December 31, 2014
                                        
                                                             
   Unit Value
   $ 24.344867     $ 16.127848     $ 14.771573     $ 9.577086     $ 14.963565     $ 13.180218     $ 20.547277     $ 9.836620     $ 28.140409     $ 13.843271  
   Total Return *
     9.87 %     8.70 %     4.06 %***     -4.50 %***     -4.22 %***     12.10 %     9.76 %     -2.17 %     24.08 %     1.80 %***
   Ratio of Expenses **
     0.85 %     1.00 %     1.00 %     0.85 %     0.85 %     0.85 %     1.00 %     0.85 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 22.156954     $ 14.836565     $ 13.961531     $ 9.993648     $ 15.500268     $ 11.757308     $ 18.720798     $ 10.055266     $ 22.679696     $ 13.039753  
   Total Return *
     39.91 %     29.22 %     37.62 %     -5.11 %     29.31 %     16.38 %***     12.17 %     -2.21 %     39.70 %     22.39 %
   Ratio of Expenses **
     0.85 %     1.00 %     1.10 %     1.00 %     1.00 %     0.85 %     1.00 %     0.85 %     0.85 %     1.10 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 15.836182     $ 11.481733     $ 10.145041     $ 10.531939     $ 11.986924     $ 8.714376     $ 16.689518     $ 10.282233     $ 16.234801     $ 10.654331  
   Total Return *
     1.63 %***     10.15 %     0.80 %***     7.18 %***     0.27 %***     24.86 %     21.68 %     -0.24 %***     -3.43 %***     12.71 %
   Ratio of Expenses **
     0.85 %     1.00 %     1.10 %     1.00 %     1.00 %     1.00 %     1.00 %     0.85 %     0.85 %     1.10 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Unit Value
   $ 12.695583     $ 10.423578       n/a     $ 10.354126     $ 11.108943     $ 6.979045     $ 13.715652     $ 10.510301     $ 13.555164     $ 9.453252  
   Total Return *
     5.48 %     16.81 %     n/a       16.86 %***     -8.37 %     -13.75 %     -9.17 %     1.76 %     9.78 %     -3.15 %
   Ratio of Expenses **
     1.00 %     1.00 %     n/a       1.15 %     1.10 %     1.00 %     1.00 %     1.10 %     1.00 %     1.10 %
                                                                                 
Period ended December 31, 2010
                                                      
                                                                                 
   Unit Value
   $ 12.036436     $ 8.923432       n/a       n/a     $ 12.123107     $ 8.092060     $ 15.101143     $ 10.328476     $ 12.347713     $ 9.760839  
   Total Return *
     21.54 %     23.42 %     n/a       n/a       1.02 %     12.36 %     13.55 %     4.84 %     2.84 %     14.52 %
   Ratio of Expenses **
     1.00 %     1.00 %     n/a       n/a       1.10 %     1.00 %     1.00 %     1.10 %     1.00 %     1.10 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations August 29, 2011.
(b)
Commencement of operations April 30, 2012.
 
113
 
Jackson National Separate Account I
                        
Notes to Financial Statements (continued)
                
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/MC Consumer Brands Sector Fund
    
JNL/MC Dow 10 Fund
    
JNL/MC Dow Jones U.S. Contrarian Opportunities Index Fund(b)
    
JNL/MC Emerging Markets Index Fund(a)
    
JNL/MC European 30 Fund
    
JNL/MC Financial Sector Fund
    
JNL/MC Global 15 Fund
    
JNL/MC Global Alpha Fund
    
JNL/MC Healthcare Sector Fund
    
JNL/MC Index 5 Fund
  
                                                             
Investment Division data
                                              
Period ended December 31, 2014
                                      
                                                             
   Net Assets (in thousands)
   $ 517,690     $ 580,636     $ 98,137     $ 476,725     $ 245,362     $ 556,140     $ 382,908     $ 41,144     $ 1,902,635     $ 681,568  
   Units Outstanding (in thousands)
     23,443       38,977       6,735       50,803       17,013       46,590       20,132       4,290       74,574       51,594  
   Investment Income Ratio *
     0.56 %     0.00 %     0.46 %     1.17 %     1.19 %     0.89 %     0.00 %     10.32 %     0.58 %     1.39 %
                                                                                 
Period ended December 31, 2013
                                                            
                                                                                 
   Net Assets (in thousands)
   $ 494,514     $ 584,282     $ 61,672     $ 384,617     $ 133,957     $ 438,277     $ 412,420     $ 45,949     $ 985,262     $ 648,975  
   Units Outstanding (in thousands)
     24,591       42,547       4,450       38,940       8,872       41,209       23,806       4,671       47,835       51,033  
   Investment Income Ratio *
     0.71 %     0.00 %     0.80 %     0.83 %     1.59 %     0.91 %     0.00 %     0.00 %     0.75 %     1.56 %
                                                                                 
Period ended December 31, 2012
                                                            
                                                                                 
   Net Assets (in thousands)
   $ 215,723     $ 462,836     $ 6,762     $ 208,650     $ 28,206     $ 216,488     $ 419,858     $ 46,259     $ 405,054     $ 492,250  
   Units Outstanding (in thousands)
     15,046       43,454       669       19,953       2,405       26,845       27,156       4,587       27,468       47,205  
   Investment Income Ratio *
     0.49 %     0.00 %     0.00 %     0.06 %     3.88 %     1.00 %     0.00 %     0.00 %     0.90 %     1.58 %
                                                                                 
Period ended December 31, 2011
                                                              
                                                                                 
   Net Assets (in thousands)
   $ 107,189     $ 491,868       n/a     $ 3,375     $ 19,793     $ 151,291     $ 400,433     $ 50,622     $ 252,885     $ 380,323  
   Units Outstanding (in thousands)
     9,082       50,814       n/a       374       1,806       23,421       31,453       4,865       20,056       40,956  
   Investment Income Ratio *
     0.56 %     0.00 %     n/a       0.00 %     1.93 %     0.79 %     0.00 %     0.78 %     0.93 %     1.04 %
                                                                                 
Period ended December 31, 2010
                                                        
                                                                                 
   Net Assets (in thousands)
   $ 74,764     $ 376,875       n/a       n/a     $ 16,887     $ 172,834     $ 522,951     $ 38,606     $ 159,186     $ 302,372  
   Units Outstanding (in thousands)
     6,641       45,320       n/a       n/a       1,406       22,949       37,238       3,759       13,810       31,427  
   Investment Income Ratio *
     0.53 %     0.00 %     n/a       n/a       0.07 %     1.25 %     0.00 %     0.00 %     1.06 %     1.14 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations August 29, 2011.
(b)
Commencement of operations April 30, 2012.
 
114
 
Jackson National Separate Account I
                          
Notes to Financial Statements (continued)
                    
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/MC International Index Fund
    
JNL/MC JNL 5 Fund
    
JNL/MC JNL Optimized 5 Fund
    
JNL/MC Nasdaq 25 Fund
    
JNL/MC NYSE International 25 Fund(a)
    
JNL/MC Oil & Gas Sector Fund
    
JNL/MC Pacific Rim 30 Fund
    
JNL/MC S&P 24 Fund
    
JNL/MC S&P 400 MidCap Index Fund
    
JNL/MC S&P 500 Index Fund
  
                                                             
Highest expense ratio
                                              
Period ended December 31, 2014
                                            
                                                             
   Unit Value
   $ 12.508248     $ 14.155449     $ 10.998057     $ 17.382007     $ 7.704011     $ 24.719171     $ 14.209829     $ 13.456611     $ 19.300451     $ 13.052758  
   Total Return *
     -9.67 %     7.29 %     3.11 %     14.24 %     6.56 %     -13.79 %     0.10 %     1.81 %     5.06 %     8.75 %
   Ratio of Expenses **
     3.895 %     3.695 %     3.695 %     3.61 %     3.61 %     3.91 %     3.06 %     3.26 %     3.895 %     3.895 %
                                                                                 
Period ended December 31, 2013
                                                            
                                                                                 
   Unit Value
   $ 13.847698     $ 13.194238     $ 10.666349     $ 15.215740     $ 7.229997     $ 28.674301     $ 14.195485     $ 13.217836     $ 18.371028     $ 12.002518  
   Total Return *
     16.79 %     26.91 %     27.48 %     36.10 %     18.76 %     20.54 %     9.26 %     36.00 %     27.91 %     26.61 %
   Ratio of Expenses **
     3.895 %     3.695 %     3.695 %     3.61 %     3.61 %     3.91 %     3.06 %     3.26 %     3.895 %     3.895 %
                                                                                 
Period ended December 31, 2012
                                                                  
                                                                                 
   Unit Value
   $ 11.856901     $ 10.396853     $ 8.366950     $ 11.180078     $ 6.088157     $ 23.788550     $ 12.992143     $ 9.719095     $ 14.362100     $ 9.479910  
   Total Return *
     13.50 %     13.75 %     10.15 %     15.40 %     7.72 %     0.34 %     8.64 %     7.94 %     12.75 %     10.95 %
   Ratio of Expenses **
     3.895 %     3.695 %     3.695 %     3.61 %     3.61 %     3.91 %     3.06 %     3.26 %     3.895 %     3.895 %
                                                                                 
Period ended December 31, 2011
                                                                
                                                                                 
   Unit Value
   $ 10.446888     $ 9.140074     $ 7.595955     $ 9.687756     $ 5.651868     $ 23.708642     $ 11.959022     $ 9.004054     $ 12.737916     $ 8.544069  
   Total Return *
     -15.61 %     -5.61 %     -13.10 %     -1.62 %     -26.55 %     -0.68 %     -4.82 %     1.55 %     -5.87 %     -2.40 %
   Ratio of Expenses **
     3.895 %     3.695 %     3.695 %     3.61 %     3.61 %     3.91 %     3.06 %     3.26 %     3.895 %     3.895 %
                                                                                 
Period ended December 31, 2010
                                                            
                                                                                 
   Unit Value
   $ 12.378630     $ 9.683474     $ 8.741516     $ 9.847499     $ 7.694809     $ 23.870558     $ 12.565053     $ 8.866352     $ 13.532357     $ 8.753917  
   Total Return *
     2.73 %     12.86 %     9.55 %     13.04 %     -1.36 %     14.54 %     9.49 %     12.82 %     21.03 %     10.07 %
   Ratio of Expenses **
     3.895 %     3.695 %     3.695 %     3.61 %     3.61 %     3.91 %     3.06 %     3.26 %     3.895 %     3.895 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
The period is from January 1, 2014 through the date the JNL/MC NYSE International 25 Fund was acquired by JNL/MC International Index Fund on September 15, 2014.  Unit values disclosed are as of September 12, 2014.
 
115
 
Jackson National Separate Account I
                          
Notes to Financial Statements (continued)
                    
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/MC International Index Fund
    
JNL/MC JNL 5 Fund
    
JNL/MC JNL Optimized 5 Fund
    
JNL/MC Nasdaq 25 Fund
    
JNL/MC NYSE International 25 Fund(a)
    
JNL/MC Oil & Gas Sector Fund
    
JNL/MC Pacific Rim 30 Fund
    
JNL/MC S&P 24 Fund
    
JNL/MC S&P 400 MidCap Index Fund
    
JNL/MC S&P 500 Index Fund
  
                                                             
Lowest expense ratio
                                                  
Period ended December 31, 2014
                                      
                                                             
   Unit Value
   $ 18.559336     $ 18.655036     $ 13.892526     $ 23.060138     $ 9.442397     $ 39.723065     $ 16.309187     $ 16.369538     $ 28.637481     $ 19.367270  
   Total Return *
     -6.88 %     10.22 %     5.93 %     17.43 %     8.63 %***     -11.11 %     2.34 %     4.13 %     8.31 %     12.11 %
   Ratio of Expenses **
     0.85 %     1.00 %     1.00 %     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 19.930514     $ 16.925899     $ 13.115219     $ 19.636662     $ 8.605944     $ 44.690102     $ 15.936592     $ 15.719755     $ 26.440862     $ 17.274803  
   Total Return *
     15.30 %***     30.37 %     30.96 %     39.91 %     21.90 %     24.28 %     -3.10 %***     39.11 %     31.87 %     30.52 %
   Ratio of Expenses **
     0.85 %     1.00 %     1.00 %     0.85 %     1.00 %     0.85 %     0.85 %     1.00 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2012
                                                            
                                                                                 
   Unit Value
   $ 16.284647     $ 12.982674     $ 10.014324     $ 14.035644     $ 7.060098     $ 35.958048     $ 14.176805     $ 11.300460     $ 20.050957     $ 13.234863  
   Total Return *
     16.84 %     16.87 %     13.17 %     -1.15 %***     10.58 %     -2.23 %***     10.91 %     10.42 %     2.44 %***     1.28 %***
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     0.85 %     1.00 %     0.85 %     1.00 %     1.00 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2011
                                                          
                                                                                 
   Unit Value
   $ 13.937538     $ 11.108993     $ 8.849116     $ 11.702614     $ 6.384835     $ 34.109903     $ 12.782667     $ 10.234481     $ 16.994019     $ 11.398882  
   Total Return *
     -13.13 %     -3.04 %     -10.74 %     0.97 %     -24.61 %     2.25 %     -2.85 %     3.87 %     -3.11 %     0.46 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %
                                                                                 
Period ended December 31, 2010
                                                      
                                                                                 
   Unit Value
   $ 16.044721     $ 11.457330     $ 9.913614     $ 11.590048     $ 8.469371     $ 33.360487     $ 13.157268     $ 9.853359     $ 17.540101     $ 11.346466  
   Total Return *
     5.75 %     15.94 %     12.54 %     16.03 %     1.25 %     17.92 %     11.77 %     15.40 %     24.58 %     13.30 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
The period is from January 1, 2014 through the date the JNL/MC NYSE International 25 Fund was acquired by JNL/MC International Index Fund on September 15, 2014.  Unit values disclosed are as of September 12, 2014.
 
116
 
Jackson National Separate Account I
              
Notes to Financial Statements (continued)
          
                                                             
Note 7 - Financial Highlights (continued)
                                                        
 
   
JNL/MC International Index Fund
    
JNL/MC JNL 5 Fund
    
JNL/MC JNL Optimized 5 Fund
    
JNL/MC Nasdaq 25 Fund
    
JNL/MC NYSE International 25 Fund(a)
    
JNL/MC Oil & Gas Sector Fund
    
JNL/MC Pacific Rim 30 Fund
    
JNL/MC S&P 24 Fund
    
JNL/MC S&P 400 MidCap Index Fund
    
JNL/MC S&P 500 Index Fund
  
                                                             
Investment Division data
                                              
Period ended December 31, 2014
                                          
                                                             
   Net Assets (in thousands)
   $ 856,845     $ 2,985,710     $ 406,937     $ 750,348     $ —     $ 1,140,786     $ 115,034     $ 340,688     $ 1,279,352     $ 3,229,425  
   Units Outstanding (in thousands)
     49,801       168,381       30,605       34,745       —       31,703       7,314       21,742       48,284       179,675  
   Investment Income Ratio *
     3.45 %     2.04 %     1.98 %     0.22 %     1.72 %     1.19 %     2.54 %     0.72 %     0.94 %     1.33 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 730,995     $ 3,120,294     $ 397,388     $ 385,253     $ 74,065     $ 1,103,185     $ 91,439     $ 391,820     $ 1,090,084     $ 2,360,165  
   Units Outstanding (in thousands)
     39,549       193,764       31,602       20,892       8,915       27,241       5,929       25,979       44,573       146,683  
   Investment Income Ratio *
     2.62 %     2.59 %     2.88 %     0.88 %     3.56 %     1.24 %     3.93 %     1.87 %     0.86 %     1.46 %
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 519,993     $ 2,718,584     $ 340,858     $ 239,760     $ 71,565     $ 841,333     $ 53,928     $ 63,317     $ 607,048     $ 1,285,269  
   Units Outstanding (in thousands)
     33,781       219,540       35,365       18,134       10,481       25,822       3,884       5,802       32,654       103,714  
   Investment Income Ratio *
     2.80 %     2.90 %     2.84 %     0.25 %     3.90 %     1.10 %     1.89 %     0.48 %     1.08 %     1.74 %
                                                                                 
Period ended December 31, 2011
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 407,505     $ 2,666,784     $ 325,680     $ 147,276     $ 66,407     $ 796,202     $ 41,344     $ 53,979     $ 463,970     $ 892,032  
   Units Outstanding (in thousands)
     30,833       250,692       38,068       13,156       10,686       25,205       3,288       5,444       28,874       81,632  
   Investment Income Ratio *
     2.60 %     3.14 %     1.82 %     0.58 %     1.97 %     0.76 %     1.51 %     0.50 %     0.63 %     1.83 %
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 473,953     $ 3,150,482     $ 408,700     $ 113,840     $ 95,366     $ 593,299     $ 35,549     $ 45,375     $ 465,805     $ 811,001  
   Units Outstanding (in thousands)
     31,092       285,784       42,419       10,220       11,519       19,159       2,735       4,730       27,996       74,196  
   Investment Income Ratio *
     1.94 %     2.09 %     2.00 %     0.21 %     2.20 %     1.08 %     0.00 %     0.31 %     0.70 %     1.42 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
The period is from January 1, 2014 through the date the JNL/MC NYSE International 25 Fund was acquired by JNL/MC International Index Fund on September 15, 2014.
 
117
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/MC S&P SMid 60 Fund
    
JNL/MC Small Cap Index Fund
    
JNL/MC Technology Sector Fund
    
JNL/MC Utilities Sector Fund(b)
    
JNL/MC Value Line 30 Fund
    
JNL/MMRS Conservative Fund(c)
    
JNL/MMRS Growth Fund(c)
    
JNL/MMRS Moderate Fund(c)
    
JNL/Morgan Stanley Mid Cap Growth Fund(a)
    
JNL/Neuberger Berman Strategic Income Fund(a)
  
                                                             
Highest expense ratio
                                          
Period ended December 31, 2014
                                      
                                                             
   Unit Value
   $ 13.719307     $ 16.718627     $ 7.847701     $ 11.866305     $ 11.580311     $ 10.401640     $ 10.351860     $ 10.371888     $ 12.154486     $ 10.180932  
   Total Return *
     -0.17 %     0.65 %     16.22 %     24.63 %     3.81 %     3.43 %***     2.96 %***     3.41 %***     -3.29 %     0.26 %***
   Ratio of Expenses **
     3.61 %     3.895 %     3.71 %     1.25 %     3.695 %     1.25 %     1.25 %     1.25 %     2.95 %     3.05 %
                                                                                 
Period ended December 31, 2013
                                                    
                                                                                 
   Unit Value
   $ 13.742661     $ 16.610102     $ 6.752509     $ 9.520999     $ 11.154790       n/a       n/a       n/a     $ 12.568236     $ 10.031476  
   Total Return *
     32.04 %     33.15 %     21.59 %     -5.07 %***     29.94 %     n/a       n/a       n/a       12.43 %***     0.91 %***
   Ratio of Expenses **
     3.61 %     3.895 %     3.71 %     1.25 %     3.695 %     n/a       n/a       n/a       2.95 %     2.90 %
                                                                                 
Period ended December 31, 2012
                                                    
                                                                                 
   Unit Value
   $ 10.408048     $ 12.475036     $ 5.553673       n/a     $ 8.584787       n/a       n/a       n/a     $ 9.405834     $ 10.341022  
   Total Return *
     9.80 %     11.45 %     7.17 %     n/a       5.19 %     n/a       n/a       n/a       1.41 %***     3.61 %***
   Ratio of Expenses **
     3.61 %     3.895 %     3.71 %     n/a       3.695 %     n/a       n/a       n/a       2.845 %     2.845 %
                                                                                 
Period ended December 31, 2011
                                                      
                                                                                 
   Unit Value
   $ 9.479046     $ 11.193412     $ 5.182166       n/a     $ 8.160986       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     -10.98 %     -7.98 %     -3.95 %     n/a       -25.77 %     n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     3.61 %     3.895 %     3.71 %     n/a       3.695 %     n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                  
                                                                                 
   Unit Value
   $ 10.648049     $ 12.164682     $ 5.395146       n/a     $ 10.994154       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     16.48 %     21.50 %     8.02 %     n/a       18.01 %     n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     3.61 %     3.895 %     3.71 %     n/a       3.695 %     n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations April 30, 2012.
(b)
Commencement of operations April 29, 2013.
(c)
Commencement of operations April 28, 2014.
 
118
 
Jackson National Separate Account I
                          
Notes to Financial Statements (continued)
                
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/MC S&P SMid 60 Fund
    
JNL/MC Small Cap Index Fund
    
JNL/MC Technology Sector Fund
    
JNL/MC Utilities Sector Fund(b)
    
JNL/MC Value Line 30 Fund
    
JNL/MMRS Conservative Fund(c)
    
JNL/MMRS Growth Fund(c)
    
JNL/MMRS Moderate Fund(c)
    
JNL/Morgan Stanley Mid Cap Growth Fund(a)
    
JNL/Neuberger Berman Strategic Income Fund(a)
  
                                                             
Lowest expense ratio
                                                
Period ended December 31, 2014
                                          
                                                             
   Unit Value
   $ 16.955507     $ 24.806629     $ 12.226761     $ 11.946061     $ 15.496900     $ 10.429832     $ 10.380118     $ 10.400011     $ 12.770519     $ 10.725547  
   Total Return *
     2.62 %***     3.77 %     19.59 %     18.24 %***     6.81 %     2.34 %***     -0.65 %***     1.74 %***     -1.49 %     3.75 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     1.10 %     1.10 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Unit Value
   $ 16.358028     $ 23.906412     $ 10.223802     $ 9.537077     $ 14.508738       n/a       n/a       n/a     $ 12.963200     $ 10.338020  
   Total Return *
     35.53 %     37.26 %     25.11 %     -4.63 %***     4.05 %***     n/a       n/a       n/a       36.22 %     -1.19 %
   Ratio of Expenses **
     1.00 %     0.85 %     0.85 %     1.00 %     0.85 %     n/a       n/a       n/a       1.10 %     1.10 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 12.069629     $ 17.416440     $ 8.171569       n/a     $ 10.719987       n/a       n/a       n/a     $ 9.516360     $ 10.462631  
   Total Return *
     12.71 %     3.62 %***     -6.20 %***     n/a       8.07 %     n/a       n/a       n/a       5.43 %***     0.97 %***
   Ratio of Expenses **
     1.00 %     0.85 %     0.85 %     n/a       1.00 %     n/a       n/a       n/a       1.10 %     1.10 %
                                                                                 
Period ended December 31, 2011
                                                            
                                                                                 
   Unit Value
   $ 10.708353     $ 14.933609     $ 7.272040       n/a     $ 9.919046       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     -8.63 %     -5.29 %     -1.32 %     n/a       -23.75 %     n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     n/a       1.00 %     n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                            
                                                                                 
   Unit Value
   $ 11.719891     $ 15.767515     $ 7.369022       n/a     $ 13.008158       n/a       n/a       n/a       n/a       n/a  
   Total Return *
     19.56 %     25.07 %     10.99 %     n/a       21.23 %     n/a       n/a       n/a       n/a       n/a  
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     n/a       1.00 %     n/a       n/a       n/a       n/a       n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations April 30, 2012.
(b)
Commencement of operations April 29, 2013.
(c)
Commencement of operations April 28, 2014.
 
119
 
Jackson National Separate Account I
                      
Notes to Financial Statements (continued)
                  
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/MC S&P SMid 60 Fund
    
JNL/MC Small Cap Index Fund
    
JNL/MC Technology Sector Fund
    
JNL/MC Utilities Sector Fund(b)
    
JNL/MC Value Line 30 Fund
    
JNL/MMRS Conservative Fund(c)
    
JNL/MMRS Growth Fund(c)
    
JNL/MMRS Moderate Fund(c)
    
JNL/Morgan Stanley Mid Cap Growth Fund(a)
    
JNL/Neuberger Berman Strategic Income Fund(a)
  
                                                             
Investment Division data
                                                
Period ended December 31, 2014
                                          
                                                             
   Net Assets (in thousands)
   $ 392,884     $ 1,179,021     $ 902,611     $ 43,476     $ 432,100     $ 24,944     $ 17,561     $ 44,029     $ 84,870     $ 333,743  
   Units Outstanding (in thousands)
     24,281       51,331       81,458       3,654       29,824       2,395       1,694       4,240       6,711       31,464  
   Investment Income Ratio *
     0.62 %     1.01 %     0.69 %     0.00 %     0.23 %     0.00 %     0.00 %     0.00 %     0.00 %     1.06 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 327,593     $ 1,167,462     $ 561,854     $ 2,976     $ 408,287       n/a       n/a       n/a     $ 59,316     $ 133,549  
   Units Outstanding (in thousands)
     20,715       52,683       60,592       312       30,035       n/a       n/a       n/a       4,608       13,007  
   Investment Income Ratio *
     1.74 %     1.26 %     0.72 %     4.57 %     1.92 %     n/a       n/a       n/a       0.00 %     0.19 %
                                                                                 
Period ended December 31, 2012
                                                            
                                                                                 
   Net Assets (in thousands)
   $ 181,031     $ 559,727     $ 393,847       n/a     $ 357,999       n/a       n/a       n/a     $ 11,508     $ 66,681  
   Units Outstanding (in thousands)
     15,483       34,612       53,038       n/a       35,092       n/a       n/a       n/a       1,212       6,393  
   Investment Income Ratio *
     0.84 %     1.82 %     0.28 %     n/a       0.06 %     n/a       n/a       n/a       0.67 %     0.00 %
                                                                                 
Period ended December 31, 2011
                                                            
                                                                                 
   Net Assets (in thousands)
   $ 158,327     $ 411,164     $ 313,873       n/a     $ 366,236       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     15,191       29,011       46,394       n/a       38,660       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     0.71 %     0.77 %     0.20 %     n/a       0.00 %     n/a       n/a       n/a       n/a       n/a  
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 174,748     $ 444,511     $ 272,752       n/a     $ 547,478       n/a       n/a       n/a       n/a       n/a  
   Units Outstanding (in thousands)
     15,266       29,615       39,671       n/a       43,841       n/a       n/a       n/a       n/a       n/a  
   Investment Income Ratio *
     0.09 %     0.65 %     0.17 %     n/a       0.60 %     n/a       n/a       n/a       n/a       n/a  
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations April 30, 2012.
(b)
Commencement of operations April 29, 2013.
(c)
Commencement of operations April 28, 2014.
 
120
 
Jackson National Separate Account I
                          
Notes to Financial Statements (continued)
                  
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/Oppenheimer Global Growth Fund
JNL/PIMCO Real Return Fund
JNL/PIMCO Total Return Bond Fund
JNL/PPM America Floating Rate Income Fund(a)
JNL/PPM America High Yield Bond Fund
JNL/PPM America Mid Cap Value Fund
JNL/PPM America Small Cap Value Fund
JNL/PPM America Value Equity Fund
JNL/Red Rocks Listed Private Equity Fund
JNL/S&P 4 Fund
                                         
Highest expense ratio
                          
Period ended December 31, 2014
                            
                                         
   Unit Value
  
 $       13.952717
  
 $       11.503020
  
 $       13.116391
  
 $       10.024199
  
 $       13.506244
  
 $       14.330078
  
 $       13.551685
  
 $       19.361326
  
 $       12.893861
  
 $       17.164728
   Total Return *
  
-1.71%
  
-0.37%
  
-0.01%
  
-2.86%
  
-3.42%
  
6.53%
  
2.10%
  
8.51%
  
-2.85%
  
10.34%
   Ratio of Expenses **
  
3.61%
  
3.61%
  
3.91%
  
3.11%
  
3.61%
  
3.61%
  
3.61%
  
3.61%
  
3.51%
  
3.61%
                                         
Period ended December 31, 2013
                            
                                         
   Unit Value
  
 $       14.194996
  
 $       11.545747
  
 $       13.117925
  
 $       10.318816
  
 $       13.984681
  
 $       13.451379
  
 $       13.273272
  
 $       17.843244
  
 $       13.272425
  
 $       15.555573
   Total Return *
  
21.76%
  
-12.35%
  
-5.83%
  
1.12%
  
4.36%
  
36.08%
  
32.48%
  
35.26%
  
36.78%
  
38.54%
   Ratio of Expenses **
  
3.61%
  
3.61%
  
3.91%
  
3.11%
  
3.61%
  
3.61%
  
3.61%
  
3.61%
  
3.51%
  
3.61%
                                         
Period ended December 31, 2012
                            
                                         
   Unit Value
  
 $       11.657821
  
 $       13.172528
  
 $       13.930277
  
 $       10.204321
  
 $       13.399916
  
 $         9.884915
  
 $       10.018823
  
 $       13.192250
  
 $         9.703725
  
 $       11.228262
   Total Return *
  
16.25%
  
4.58%
  
3.93%
  
4.52%
  
12.60%
  
12.29%
  
15.43%
  
11.55%
  
25.76%
  
12.10%
   Ratio of Expenses **
  
3.61%
  
3.61%
  
3.91%
  
3.11%
  
3.61%
  
3.61%
  
3.61%
  
3.61%
  
3.51%
  
3.61%
                                         
Period ended December 31, 2011
                            
                                         
   Unit Value
  
 $       10.027837
  
 $       12.596112
  
 $       13.403110
  
 $         9.763142
  
 $       11.900255
  
 $         8.802847
  
 $         8.679633
  
 $       11.826380
  
 $         7.716122
  
 $       10.016290
   Total Return *
  
-11.47%
  
7.76%
  
0.82%
  
3.18%***
  
0.97%
  
-10.69%
  
-11.28%
  
-8.61%
  
-20.79%
  
2.12%
   Ratio of Expenses **
  
3.61%
  
3.61%
  
3.91%
  
3.11%
  
3.61%
  
3.61%
  
3.61%
  
3.61%
  
3.51%
  
3.61%
                                         
Period ended December 31, 2010
                          
                                         
   Unit Value
  
 $       11.326454
  
 $       11.688683
  
 $       13.294261
  
 n/a
  
 $       11.785726
  
 $         9.855985
  
 $         9.782878
  
 $       12.941093
  
 $         9.741513
  
 $         9.807963
   Total Return *
  
11.29%
  
0.26%***
  
3.45%
  
n/a
  
11.53%
  
24.98%
  
23.18%
  
9.65%***
  
8.76%***
  
9.76%
   Ratio of Expenses **
  
3.61%
  
3.61%
  
3.91%
  
n/a
  
3.61%
  
3.61%
  
3.61%
  
3.61%
  
3.51%
  
3.61%
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations January 1, 2011.
 
121
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/Oppenheimer Global Growth Fund
    
JNL/PIMCO Real Return Fund
    
JNL/PIMCO Total Return Bond Fund
    
JNL/PPM America Floating Rate Income Fund(a)
    
JNL/PPM America High Yield Bond Fund
    
JNL/PPM America Mid Cap Value Fund
    
JNL/PPM America Small Cap Value Fund
    
JNL/PPM America Value Equity Fund
    
JNL/Red Rocks Listed Private Equity Fund
    
JNL/S&P 4 Fund
  
                                                             
Lowest expense ratio
                                                    
Period ended December 31, 2014
                                      
                                                             
   Unit Value
   $ 19.936239     $ 14.328320     $ 21.957377     $ 10.971037     $ 21.495467     $ 17.266208     $ 16.163947     $ 32.328263     $ 15.220263     $ 20.867215  
   Total Return *
     0.89 %     2.42 %     3.10 %     -0.63 %     -0.72 %     9.51 %     4.80 %     11.38 %***     -0.23 %     13.43 %
   Ratio of Expenses **
     1.00 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %     1.00 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 19.759860     $ 13.990021     $ 21.298086     $ 11.041085     $ 21.650988     $ 15.766223     $ 15.423975     $ 28.490768     $ 15.255852     $ 18.396130  
   Total Return *
     24.98 %     -9.90 %     -2.91 %     3.43 %     7.28 %     39.89 %     35.99 %     38.69 %     40.46 %     42.42 %
   Ratio of Expenses **
     1.00 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %     1.10 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2012
                                                        
                                                                                 
   Unit Value
   $ 15.809947     $ 15.526658     $ 21.935375     $ 10.674570     $ 20.180869     $ 11.270586     $ 11.342241     $ 20.542233     $ 10.861040     $ 12.917126  
   Total Return *
     19.34 %     2.48 %***     0.51 %***     4.60 %***     10.59 %***     12.87 %***     18.49 %     14.39 %     20.39 %***     1.46 %***
   Ratio of Expenses **
     1.00 %     0.85 %     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %     1.10 %     0.85 %     0.85 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Unit Value
   $ 13.248085     $ 14.335478     $ 20.048385     $ 9.970069     $ 17.085087     $ 9.672001     $ 9.572316     $ 17.957638     $ 8.368520     $ 11.140221  
   Total Return *
     -9.13 %     10.61 %     3.79 %     -1.04 %***     3.63 %     -8.42 %     12.25 %***     -6.30 %     -18.78 %     12.09 %***
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.10 %     1.00 %     1.10 %     1.00 %     1.00 %
                                                                                 
Period ended December 31, 2010
                                                    
                                                                                 
   Unit Value
   $ 14.579247     $ 12.960938     $ 19.316750       n/a     $ 16.486250     $ 10.561409     $ 10.483034     $ 19.164505     $ 10.303812     $ 10.595861  
   Total Return *
     14.23 %     6.65 %     6.50 %     n/a       14.48 %     28.16 %     26.31 %     16.17 %     25.06 %     12.55 %
   Ratio of Expenses **
     1.00 %     1.00 %     1.00 %     n/a       1.00 %     1.10 %     1.10 %     1.10 %     1.00 %     1.10 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations January 1, 2011.
 
122
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/Oppenheimer Global Growth Fund
    
JNL/PIMCO Real Return Fund
    
JNL/PIMCO Total Return Bond Fund
    
JNL/PPM America Floating Rate Income Fund(a)
    
JNL/PPM America High Yield Bond Fund
    
JNL/PPM America Mid Cap Value Fund
    
JNL/PPM America Small Cap Value Fund
    
JNL/PPM America Value Equity Fund
    
JNL/Red Rocks Listed Private Equity Fund
    
JNL/S&P 4 Fund
  
                                                             
Investment Division data
                                            
Period ended December 31, 2014
                                    
                                                             
   Net Assets (in thousands)
   $ 693,161     $ 1,317,828     $ 3,192,629     $ 1,190,883     $ 1,605,817     $ 303,240     $ 199,124     $ 202,023     $ 497,609     $ 4,667,941  
   Units Outstanding (in thousands)
     37,217       96,758       162,080       111,124       83,318       18,261       12,753       7,084       33,704       233,025  
   Investment Income Ratio *
     0.59 %     0.70 %     3.28 %     2.34 %     5.53 %     0.51 %     0.27 %     5.03 %     6.82 %     2.34 %
                                                                                 
Period ended December 31, 2013
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 601,435     $ 1,358,822     $ 3,417,014     $ 1,077,933     $ 1,571,549     $ 255,733     $ 189,982     $ 170,362     $ 494,897     $ 2,922,386  
   Units Outstanding (in thousands)
     32,482       101,678       178,424       99,528       81,106       16,840       12,722       6,708       33,392       165,123  
   Investment Income Ratio *
     1.04 %     1.15 %     1.11 %     2.27 %     6.30 %     0.64 %     0.43 %     1.31 %     8.93 %     0.83 %
                                                                                 
Period ended December 31, 2012
                                                              
                                                                                 
   Net Assets (in thousands)
   $ 375,828     $ 2,175,079     $ 4,251,064     $ 278,372     $ 1,362,796     $ 115,388     $ 94,059     $ 112,314     $ 346,531     $ 1,217,212  
   Units Outstanding (in thousands)
     25,292       146,138       215,752       26,438       75,591       10,587       8,512       6,164       32,794       97,619  
   Investment Income Ratio *
     1.07 %     2.08 %     2.19 %     3.34 %     6.26 %     0.37 %     1.01 %     1.33 %     0.00 %     1.89 %
                                                                                 
Period ended December 31, 2011
                                                        
                                                                                 
   Net Assets (in thousands)
   $ 284,666     $ 1,526,239     $ 2,980,927     $ 129,210     $ 870,828     $ 87,886     $ 65,195     $ 97,154     $ 308,657     $ 956,114  
   Units Outstanding (in thousands)
     22,760       109,600       161,304       13,038       55,802       9,255       6,964       6,104       37,524       87,824  
   Investment Income Ratio *
     0.62 %     0.99 %     3.19 %     0.00 %     6.97 %     0.10 %     0.19 %     1.12 %     8.66 %     4.94 %
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 247,329     $ 972,580     $ 2,500,105       n/a     $ 721,610     $ 83,276     $ 58,322     $ 106,819     $ 279,890     $ 797,263  
   Units Outstanding (in thousands)
     17,907       76,831       140,076       n/a       47,902       8,009       5,650       6,283       27,501       76,365  
   Investment Income Ratio *
     0.85 %     1.48 %     2.29 %     n/a       7.60 %     0.00 %     0.21 %     1.21 %     0.25 %     0.00 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations January 1, 2011.
 
123
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/S&P Competitive Advantage Fund
    
JNL/S&P Dividend Income & Growth Fund
    
JNL/S&P International 5 Fund(b)
    
JNL/S&P Intrinsic Value Fund
    
JNL/S&P Managed Aggressive Growth Fund
    
JNL/S&P Managed Conservative Fund
    
JNL/S&P Managed Growth Fund
    
JNL/S&P Managed Moderate Fund
    
JNL/S&P Managed Moderate Growth Fund
    
JNL/S&P Mid 3 Fund(a)
  
                                                             
Highest expense ratio
                                                
Period ended December 31, 2014
                                            
                                                             
   Unit Value
   $ 17.874961     $ 15.548089     $ 9.425466     $ 19.046941     $ 14.048148     $ 10.847182     $ 13.923369     $ 12.038796     $ 12.646828     $ 11.210961  
   Total Return *
     6.15 %     9.77 %     -5.92 %***     13.85 %     2.65 %     -0.62 %     1.69 %     0.21 %     0.40 %     10.80 %***
   Ratio of Expenses **
     3.61 %     3.51 %     1.25 %     3.61 %     3.75 %     3.695 %     3.80 %     3.695 %     4.01 %     2.65 %
                                                                                 
Period ended December 31, 2013
                                                                
                                                                                 
   Unit Value
   $ 16.838644     $ 14.163602       n/a     $ 16.729426     $ 13.685008     $ 10.914940     $ 13.691565     $ 12.013979     $ 12.596786       n/a  
   Total Return *
     37.87 %     26.27 %     n/a       44.63 %     21.14 %     0.73 %     18.01 %     6.42 %     11.29 %     n/a  
   Ratio of Expenses **
     3.61 %     3.51 %     n/a       3.61 %     3.75 %     3.695 %     3.80 %     3.695 %     4.01 %     n/a  
                                                                                 
Period ended December 31, 2012
                                                            
                                                                                 
   Unit Value
   $ 12.213561     $ 11.216816       n/a     $ 11.566954     $ 11.296479     $ 10.835956     $ 11.601845     $ 11.289240     $ 11.318630       n/a  
   Total Return *
     12.48 %     8.90 %     n/a       10.05 %     11.57 %     4.82 %     11.03 %     6.89 %     9.26 %     n/a  
   Ratio of Expenses **
     3.61 %     3.51 %     n/a       3.61 %     3.75 %     3.695 %     3.80 %     3.695 %     4.01 %     n/a  
                                                                                 
Period ended December 31, 2011
                                                                  
                                                                                 
   Unit Value
   $ 10.858481     $ 10.299783       n/a     $ 10.510325     $ 10.125196     $ 10.337958     $ 10.449663     $ 10.561571     $ 10.359662       n/a  
   Total Return *
     6.62 %     8.56 %     n/a       2.75 %     -8.29 %     -0.61 %     -6.74 %     -2.81 %     -5.14 %     n/a  
   Ratio of Expenses **
     3.61 %     3.51 %     n/a       3.61 %     3.75 %     3.695 %     3.80 %     3.695 %     4.01 %     n/a  
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Unit Value
   $ 10.184414     $ 9.488017       n/a     $ 10.229163     $ 11.040307     $ 10.401392     $ 11.205082     $ 10.867131     $ 10.920968       n/a  
   Total Return *
     8.63 %     14.16 %     n/a       10.33 %     12.78 %     4.76 %     11.79 %     7.27 %     8.73 %     n/a  
   Ratio of Expenses **
     3.61 %     3.51 %     n/a       3.61 %     3.75 %     3.695 %     3.80 %     3.695 %     4.01 %     n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations April 28, 2014.
(b) Commencement of operations September 15, 2014.
 
124
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/S&P Competitive Advantage Fund
    
JNL/S&P Dividend Income & Growth Fund
    
JNL/S&P International 5 Fund(b)
    
JNL/S&P Intrinsic Value Fund
    
JNL/S&P Managed Aggressive Growth Fund
    
JNL/S&P Managed Conservative Fund
    
JNL/S&P Managed Growth Fund
    
JNL/S&P Managed Moderate Fund
    
JNL/S&P Managed Moderate Growth Fund
    
JNL/S&P Mid 3 Fund(a)
  
                                                             
Lowest expense ratio
                                              
Period ended December 31, 2014
                                          
                                                             
   Unit Value
   $ 21.731616     $ 18.769716     $ 9.436455     $ 23.157505     $ 22.261653     $ 14.294772     $ 22.245717     $ 15.865164     $ 20.928576     $ 11.344545  
   Total Return *
     13.35 %***     7.26 %***     -1.26 %***     16.41 %***     5.52 %     2.09 %     4.58 %     2.94 %     3.47 %     10.07 %***
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     0.85 %
                                                                                 
Period ended December 31, 2013
                                                        
                                                                                 
   Unit Value
   $ 19.734087     $ 16.498730       n/a     $ 19.606971     $ 21.097901     $ 14.001567     $ 21.271309     $ 15.411454     $ 20.227633       n/a  
   Total Return *
     41.51 %     29.48 %     n/a       48.46 %     24.52 %     3.48 %     21.36 %     9.33 %     14.69 %     n/a  
   Ratio of Expenses **
     1.00 %     1.00 %     n/a       1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     n/a  
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Unit Value
   $ 13.944943     $ 12.742209       n/a     $ 13.207260     $ 16.943113     $ 13.530606     $ 17.526999     $ 14.096669     $ 17.636234       n/a  
   Total Return *
     15.46 %     11.68 %     n/a       12.97 %     14.69 %     7.69 %     14.19 %     9.82 %     12.60 %     n/a  
   Ratio of Expenses **
     1.00 %     1.00 %     n/a       1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     n/a  
                                                                                 
Period ended December 31, 2011
                                                            
                                                                                 
   Unit Value
   $ 12.077498     $ 11.409605       n/a     $ 11.690770     $ 14.773287     $ 12.564577     $ 15.349276     $ 12.836407     $ 15.662054       n/a  
   Total Return *
     9.43 %     11.31 %     n/a       5.46 %     -5.74 %     2.10 %     -4.10 %     -0.16 %***     -2.25 %***     n/a  
   Ratio of Expenses **
     1.00 %     1.00 %     n/a       1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     n/a  
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Unit Value
   $ 11.036703     $ 10.250525       n/a     $ 11.085669     $ 15.672705     $ 12.306413     $ 16.005626     $ 12.777857     $ 15.820096       n/a  
   Total Return *
     11.50 %     17.06 %     n/a       13.25 %     15.92 %     7.62 %     14.96 %     10.09 %     11.94 %     n/a  
   Ratio of Expenses **
     1.00 %     1.00 %     n/a       1.00 %     1.00 %     1.00 %     1.00 %     1.10 %     1.10 %     n/a  
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations April 28, 2014.
(b) Commencement of operations September 15, 2014.
 
125
 
Jackson National Separate Account I
                                
Notes to Financial Statements (continued)
                        
                                         
Note 7 - Financial Highlights (continued)
                                    
 
   
JNL/S&P Competitive Advantage Fund
    
JNL/S&P Dividend Income & Growth Fund
    
JNL/S&P International 5 Fund(b)
    
JNL/S&P Intrinsic Value Fund
    
JNL/S&P Managed Aggressive Growth Fund
    
JNL/S&P Managed Conservative Fund
    
JNL/S&P Managed Growth Fund
    
JNL/S&P Managed Moderate Fund
    
JNL/S&P Managed Moderate Growth Fund
    
JNL/S&P Mid 3 Fund(a)
  
                                                             
Investment Division data
                                                
Period ended December 31, 2014
                                      
                                                             
   Net Assets (in thousands)
   $ 768,629     $ 2,242,010     $ 2,469     $ 1,041,965     $ 1,593,831     $ 1,508,870     $ 4,602,747     $ 3,148,395     $ 5,884,253     $ 80,071  
   Units Outstanding (in thousands)
     37,055       125,003       262       47,113       77,401       111,332       223,764       208,440       304,433       7,084  
   Investment Income Ratio *
     0.30 %     1.36 %     0.00 %     0.88 %     0.47 %     0.29 %     0.53 %     0.20 %     0.23 %     0.00 %
                                                                                 
Period ended December 31, 2013
                                                            
                                                                                 
   Net Assets (in thousands)
   $ 616,476     $ 1,781,588       n/a     $ 605,777     $ 1,425,616     $ 1,567,878     $ 4,178,451     $ 3,071,065     $ 5,616,026       n/a  
   Units Outstanding (in thousands)
     32,284       111,465       n/a       31,928       72,852       117,677       211,960       208,670       299,937       n/a  
   Investment Income Ratio *
     0.69 %     1.89 %     n/a       1.16 %     0.72 %     0.58 %     0.90 %     0.47 %     0.50 %     n/a  
                                                                                 
Period ended December 31, 2012
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 293,492     $ 822,731       n/a     $ 230,392     $ 988,005     $ 1,688,160     $ 3,014,831     $ 2,671,615     $ 4,454,811       n/a  
   Units Outstanding (in thousands)
     21,654       66,373       n/a       17,949       62,719       130,695       184,990       197,840       272,199       n/a  
   Investment Income Ratio *
     0.65 %     1.67 %     n/a       0.91 %     0.94 %     2.59 %     1.27 %     1.88 %     1.55 %     n/a  
                                                                                 
Period ended December 31, 2011
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 153,398     $ 529,069       n/a     $ 197,440     $ 748,866     $ 1,187,614     $ 2,273,056     $ 1,942,414     $ 3,240,548       n/a  
   Units Outstanding (in thousands)
     12,987       47,429       n/a       17,293       54,285       98,525       158,754       157,318       222,293       n/a  
   Investment Income Ratio *
     1.01 %     1.84 %     n/a       0.97 %     0.66 %     2.39 %     0.73 %     1.97 %     1.64 %     n/a  
                                                                                 
Period ended December 31, 2010
                                                          
                                                                                 
   Net Assets (in thousands)
   $ 83,408     $ 216,196       n/a     $ 105,541     $ 694,558     $ 886,035     $ 1,946,317     $ 1,514,845     $ 2,629,579       n/a  
   Units Outstanding (in thousands)
     7,689       21,452       n/a       9,700       47,392       74,750       130,135       122,023       176,006       n/a  
   Investment Income Ratio *
     0.75 %     1.79 %     n/a       0.75 %     0.76 %     2.60 %     1.05 %     2.16 %     1.39 %     n/a  
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations April 28, 2014.
(b) Commencement of operations September 15, 2014.
 
126
 
Jackson National Separate Account I
                            
Notes to Financial Statements (continued)
                    
                                     
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/S&P Total Yield Fund
    
JNL/Scout Unconstrained Bond Fund(a)
    
JNL/T. Rowe Price Established Growth Fund
    
JNL/T. Rowe Price Mid-Cap Growth Fund
    
JNL/T. Rowe Price Short-Term Bond Fund
    
JNL/T. Rowe Price Value Fund
    
JNL/WMC Balanced Fund
    
JNL/WMC Money Market Fund
    
JNL/WMC Value Fund
  
                                                       
Highest expense ratio
                                          
Period ended December 31, 2014
                                    
                                                       
   Unit Value
   $ 15.994421     $ 9.538972     $ 30.831434     $ 48.770099     $ 8.594441     $ 17.534083     $ 25.197477     $ 7.714836     $ 23.761523  
   Total Return *
     11.78 %     -4.61 %***     4.54 %     8.50 %     -3.14 %     8.90 %     5.77 %     -3.68 %     7.29 %
   Ratio of Expenses **
     3.61 %     1.25 %     3.91 %     3.91 %     3.61 %     3.91 %     3.80 %     3.75 %     3.70 %
                                                                         
Period ended December 31, 2013
                                                
                                                                         
   Unit Value
   $ 14.308556       n/a     $ 29.492504     $ 44.948972     $ 8.872603     $ 16.100834     $ 23.823488     $ 8.009515     $ 22.147785  
   Total Return *
     46.30 %     n/a       33.35 %     31.27 %     -3.45 %     31.88 %     14.88 %     -3.68 %     26.29 %
   Ratio of Expenses **
     3.61 %     n/a       3.91 %     3.91 %     3.61 %     3.91 %     3.80 %     3.75 %     3.70 %
                                                                         
Period ended December 31, 2012
                                                
                                                                         
   Unit Value
   $ 9.780077       n/a     $ 22.116964     $ 34.241931     $ 9.189697     $ 12.209024     $ 20.737850     $ 8.315507     $ 17.537698  
   Total Return *
     17.50 %     n/a       14.27 %     9.22 %     -1.20 %     14.74 %     5.98 %     -3.69 %     12.11 %
   Ratio of Expenses **
     3.61 %     n/a       3.91 %     3.91 %     3.61 %     3.91 %     3.80 %     3.75 %     3.70 %
                                                                         
Period ended December 31, 2011
                                                  
                                                                         
   Unit Value
   $ 8.323496       n/a     $ 19.355494     $ 31.351508     $ 9.301062     $ 10.640263     $ 19.567657     $ 8.634066     $ 15.643046  
   Total Return *
     -8.75 %     n/a       -4.96 %     -5.23 %     -2.21 %     -5.82 %     -0.57 %     -3.67 %     -5.61 %
   Ratio of Expenses **
     3.61 %     n/a       3.91 %     3.91 %     3.61 %     3.91 %     3.80 %     3.75 %     3.70 %
                                                                         
Period ended December 31, 2010
                                                  
                                                                         
   Unit Value
   $ 9.121174       n/a     $ 20.365095     $ 33.080837     $ 9.510825     $ 11.297764     $ 19.680014     $ 8.962684     $ 16.572366  
   Total Return *
     6.18 %     n/a       12.29 %     22.96 %     -0.72 %     11.45 %     6.70 %     -3.68 %     9.57 %
   Ratio of Expenses **
     3.61 %     n/a       3.91 %     3.91 %     3.61 %     3.91 %     3.80 %     3.75 %     3.70 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations April 28, 2014.
 
127
 
Jackson National Separate Account I
                            
Notes to Financial Statements (continued)
                    
                                     
Note 7 - Financial Highlights (continued)
                            
 
   
JNL/S&P Total Yield Fund
    
JNL/Scout Unconstrained Bond Fund(a)
    
JNL/T. Rowe Price Established Growth Fund
    
JNL/T. Rowe Price Mid-Cap Growth Fund
    
JNL/T. Rowe Price Short-Term Bond Fund
    
JNL/T. Rowe Price Value Fund
    
JNL/WMC Balanced Fund
    
JNL/WMC Money Market Fund
    
JNL/WMC Value Fund
  
                                                       
Lowest expense ratio
                                              
Period ended December 31, 2014
                                  
                                                       
   Unit Value
   $ 19.445573     $ 9.564819     $ 56.232932     $ 86.374715     $ 10.919125     $ 27.470071     $ 44.970145     $ 13.634536     $ 33.080372  
   Total Return *
     12.91 %***     -3.82 %***     7.79 %     11.71 %     -0.42 %     12.29 %     8.93 %     -0.84 %     10.22 %
   Ratio of Expenses **
     0.85 %     0.85 %     0.85 %     1.00 %     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %
                                                                         
Period ended December 31, 2013
                                                
                                                                         
   Unit Value
   $ 16.769144       n/a     $ 52.169689     $ 77.323934     $ 10.965640     $ 24.464416     $ 41.281946     $ 13.750691     $ 30.012344  
   Total Return *
     50.17 %     n/a       37.49 %     35.15 %     -0.75 %     35.97 %     18.32 %     -0.85 %     29.74 %
   Ratio of Expenses **
     1.00 %     n/a       0.85 %     1.00 %     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %
                                                                         
Period ended December 31, 2012
                                                      
                                                                         
   Unit Value
   $ 11.166615       n/a     $ 37.943892     $ 57.215482     $ 11.048330     $ 17.991908     $ 34.890392     $ 13.867935     $ 23.132132  
   Total Return *
     20.62 %     n/a       6.85 %***     12.45 %     -0.12 %***     15.29 %***     -0.97 %***     -0.30 %***     15.19 %
   Ratio of Expenses **
     1.00 %     n/a       0.85 %     1.00 %     0.85 %     0.85 %     0.85 %     0.85 %     1.00 %
                                                                         
Period ended December 31, 2011
                                                    
                                                                         
   Unit Value
   $ 9.258036       n/a     $ 31.410950     $ 50.879218     $ 10.785135     $ 14.943349     $ 31.176294     $ 13.642602     $ 20.081933  
   Total Return *
     -6.34 %     n/a       -2.16 %     -2.44 %     0.37 %     -3.05 %     2.24 %     -0.99 %     -3.03 %
   Ratio of Expenses **
     1.00 %     n/a       1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %
                                                                         
Period ended December 31, 2010
                                                    
                                                                         
   Unit Value
   $ 9.884599       n/a     $ 32.104002     $ 52.149990     $ 10.745000     $ 15.412882     $ 30.491815     $ 13.778726     $ 20.709679  
   Total Return *
     8.98 %     n/a       15.60 %     26.59 %     1.91 %     14.74 %     9.73 %     -1.00 %     12.57 %
   Ratio of Expenses **
     1.00 %     n/a       1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %     1.00 %
 
*
Total return for period indicated, includes changes in the value of the underlying Fund, and reflects deductions for all items included in the expense ratio.  The total return does not include any expenses assessed through the redemption of units,inclusion of these expenses in the calculation would result in a reduction in the total return presented.  Total return for Investment Divisions with no assets at period end is calculated based on the total return of the underlying Fund less expenses that are charged directly to that Investment Division of the Separate Account.
**
Annualized contract expenses of Investment Divisions of the Separate Account, consist primarily of mortality and expense charges, for each period indicated.  The ratios include only those expenses that result in a direct reduction to unit values.Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Funds are excluded.
***
Total return is calculated from the effective date through the end of the reporting period. The effective date is the date when the optional benefit in the variable account was elected by a contract owner.
 
(a)
Commencement of operations April 28, 2014.
 
128
 
Jackson National Separate Account I
                            
Notes to Financial Statements (continued)
                    
                                     
Note 7 - Financial Highlights (continued)
                                
 
   
JNL/S&P Total Yield Fund
    
JNL/Scout Unconstrained Bond Fund(a)
    
JNL/T. Rowe Price Established Growth Fund
    
JNL/T. Rowe Price Mid-Cap Growth Fund
    
JNL/T. Rowe Price Short-Term Bond Fund
    
JNL/T. Rowe Price Value Fund
    
JNL/WMC Balanced Fund
    
JNL/WMC Money Market Fund
    
JNL/WMC Value Fund
  
                                                       
Investment Division data
                                      
Period ended December 31, 2014
                                  
                                                       
   Net Assets (in thousands)
   $ 582,104     $ 15,935     $ 2,315,476     $ 2,578,873     $ 818,121     $ 1,326,726     $ 4,024,876     $ 1,216,576     $ 668,419  
   Units Outstanding (in thousands)
     31,339       1,668       46,745       33,064       78,980       52,688       100,337       101,006       21,405  
   Investment Income Ratio *
     1.00 %     0.00 %     0.00 %     0.15 %     1.19 %     0.81 %     1.30 %     0.00 %     1.47 %
                                                                         
Period ended December 31, 2013
                                                    
                                                                         
   Net Assets (in thousands)
   $ 362,318       n/a     $ 2,019,757     $ 2,161,052     $ 697,296     $ 969,477     $ 3,194,549     $ 1,268,083     $ 638,676  
   Units Outstanding (in thousands)
     22,353       n/a       44,000       30,964       66,830       43,153       86,719       104,583       22,497  
   Investment Income Ratio *
     1.27 %     n/a       0.08 %     0.00 %     1.34 %     1.29 %     1.49 %     0.00 %     1.92 %
                                                                         
Period ended December 31, 2012
                                                      
                                                                         
   Net Assets (in thousands)
   $ 112,891       n/a     $ 1,325,286     $ 1,472,007     $ 647,091     $ 570,473     $ 2,294,283     $ 1,195,108     $ 430,498  
   Units Outstanding (in thousands)
     10,415       n/a       39,723       28,527       61,301       34,539       73,604       97,907       19,603  
   Investment Income Ratio *
     0.96 %     n/a       0.00 %     0.21 %     1.03 %     1.32 %     1.33 %     0.00 %     2.30 %
                                                                         
Period ended December 31, 2011
                                                          
                                                                         
   Net Assets (in thousands)
   $ 80,015       n/a     $ 901,594     $ 1,176,491     $ 493,477     $ 431,971     $ 1,709,811     $ 1,010,793     $ 362,133  
   Units Outstanding (in thousands)
     8,851       n/a       31,868       25,681       47,268       30,832       59,618       82,015       18,923  
   Investment Income Ratio *
     1.22 %     n/a       0.00 %     0.02 %     1.27 %     1.37 %     1.18 %     0.00 %     1.03 %
                                                                         
Period ended December 31, 2010
                                                        
                                                                         
   Net Assets (in thousands)
   $ 64,956       n/a     $ 782,772     $ 981,793     $ 334,098     $ 411,509     $ 1,228,148     $ 676,914     $ 353,077  
   Units Outstanding (in thousands)
     6,691       n/a       27,158       21,009       31,935       28,398       43,834       54,428       17,861  
   Investment Income Ratio *
     0.74 %     n/a       0.04 %     0.20 %     1.38 %     1.03 %     1.44 %     0.00 %     1.02 %
 
*
These amounts represent the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying Fund divided by the average net assets.  In some instances, the investment income ratio may be rounded to 0.00% even though the Investment Division received dividend income from the underlying Fund.
 
(a)
Commencement of operations April 28, 2014.
 
129
 
 
  KPMG LLP
Aon Center
Suite 5500
200 East Randolph Drive
Chicago, IL 60601-6436
 

 
 
Report of Independent Registered Public Accounting Firm
 
The Board of Directors
Jackson National Life Insurance Company and
Contract Owners of Jackson National Separate Account I:

 
We have audited the accompanying statement of assets and liabilities of each Investment Division within Jackson National Separate Account I (the “Company”), as of December 31, 2014, and the related statement of operations for the year or period then ended, the statements of changes in net assets for each of the years or periods in the two-year period then ended, and the financial highlights for each of the years or periods in the five-year period then ended. These financial statements and financial highlights are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2014, by correspondence with the transfer agent of the underlying mutual funds and other appropriate auditing procedures. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
 
In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each Investment Division within the Company as of December 31, 2014, the results of its operations for the year or period then ended, the changes in its net assets for each of the years or periods in the two-year period then ended, and the financial highlights for each of the years or periods in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.
 
 
Chicago, Illinois
March 25, 2015
 
 
 
KPMG LLP is a Delaware limited liability partnership, the U.S. member firm of KPMG International Cooperative (“KPMG International”), a Swiss entity.
  
 
 
 
 
 

APPENDIX B

 
 
 
 
Jackson National Life Insurance Company and Subsidiaries
 
Index to Consolidated Financial Statements
December 31, 2014 and 2013
 
 
 
 
 
 
KPMG LLP
Suite 500
191 West Nationwide Blvd.
Columbus, OH 43215-2568
 

The Board of Directors and Stockholder
Jackson National Life Insurance Company:
 
We have audited the accompanying consolidated balance sheets of Jackson National Life Insurance Company and Subsidiaries (the Company) as of December 31, 2014 and 2013, and the related consolidated income statements, consolidated statements of comprehensive income, equity, and cash flows for each of the years in the three-year period ended December 31, 2014. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
 
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Jackson National Life Insurance Company and Subsidiaries as of December 31, 2014 and 2013, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2014, in conformity with U.S. generally accepted accounting principles.
 
 
 
Columbus, Ohio
March 6, 2015
 
KPMG LLP is a Delaware limited liability partnership,
the U.S. member firm of KPMG International Cooperative
(“KPMG International”), a Swiss entity.
 
1
 
Jackson National Life Insurance Company and Subsidiaries
(In thousands, except per share information) 
 
   
December 31,
  
Assets
  
2014
    
2013
  
Investments:
            
Securities available for sale, at fair value:
            
Fixed maturities (amortized cost: 2014, $48,245,495; 2013, $48,620,014, including $142,642 and $164,803 at fair value under the fair value option at December 31, 2014 and 2013, respectively)
   $ 50,978,577     $ 49,729,105  
Trading securities, at fair value
     530,418       541,228  
Commercial mortgage loans, net of allowance
     5,998,253       6,080,080  
Policy loans (includes $3,156,550 and $3,131,161 at fair value under the fair value option at
          
December 31, 2014 and 2013, respectively)
     4,477,083       4,477,040  
Derivative instruments
     1,428,084       1,267,974  
Other invested assets (includes $1,176,633 and $1,310,369 at fair value under the fair value option
          
at December 31, 2014 and 2013, respectively)
     1,381,684       1,470,800  
Total investments
     64,794,099       63,566,227  
Cash and cash equivalents
     1,399,091       986,383  
Accrued investment income
     687,503       682,149  
Deferred acquisition costs
     7,455,336       6,212,220  
Reinsurance recoverable
     9,323,159       9,285,104  
Deferred income taxes, net
     13,956       110,393  
Other assets
     1,119,762       2,192,276  
Separate account assets
     127,459,274       108,787,279  
Total assets
   $ 212,252,180     $ 191,822,031  
                 
Liabilities and Equity
                
Liabilities
                
Reserves for future policy benefits and claims payable
   $ 13,574,469     $ 11,974,963  
Other contract holder funds
     57,685,319       57,884,519  
Funds held under reinsurance treaties, at fair value under fair value option
     3,431,854       3,396,987  
Debt
     328,737       284,489  
Securities lending payable
     196,633       95,754  
Derivative instruments
     391,805       852,953  
Other liabilities
     2,542,453       2,506,665  
Separate account liabilities
     127,459,274       108,787,279  
Total liabilities
     205,610,544       185,783,609  
                 
Equity
                
Common stock, $1.15 par value; authorized 50,000 shares;
                
issued and outstanding 12,000 shares
     13,800       13,800  
Additional paid-in capital
     3,816,079       3,801,965  
Shares held in trust
     (27,084 )     (22,752 )
Equity compensation reserve
     14,130       18,448  
Accumulated other comprehensive income, net of tax expense (benefit)
                
of $398,736 in 2014 and $(113,674) in 2013
     1,478,565       526,947  
Retained earnings
     1,311,175       1,657,406  
Total stockholder's equity
     6,606,665       5,995,814  
Noncontrolling interests
     34,971       42,608  
Total equity
     6,641,636       6,038,422  
Total liabilities and equity
   $ 212,252,180     $ 191,822,031  
 
See accompanying Notes to Consolidated Financial Statements.
 
2
 
Jackson National Life Insurance Company and Subsidiaries
(In thousands) 
 
   
Years Ended December 31,
  
   
2014
    
2013
    
2012
  
Revenues
                  
Fee income
   $ 4,512,152     $ 3,801,275     $ 2,787,122  
Premium
     264,341       286,771       176,270  
Net investment income
     3,002,581       3,144,646       2,780,562  
Net realized losses on investments:
                        
Total other-than-temporary impairments
     (56,161 )     (49,930 )     (172,730 )
Portion of other-than-temporary impairments included in
                        
other comprehensive income
     29,549       29,146       85,876  
Net other-than-temporary impairments
     (26,612 )     (20,784 )     (86,854 )
Other net investment losses
     (3,377,910 )     (1,969,669 )     (630,252 )
Total net realized losses on investments
     (3,404,522 )     (1,990,453 )     (717,106 )
Other income
     98,338       154,714       80,056  
Total revenues
     4,472,890       5,396,953       5,106,904  
Benefits and Expenses
                        
Death, other policy benefits and change in policy reserves, net of deferrals
     1,183,680       1,026,392       614,214  
Interest credited on other contract holder funds, net of deferrals
     1,563,202       1,636,071       1,460,021  
Interest expense
     38,417       42,036       44,561  
Operating costs and other expenses, net of deferrals
     1,616,062       1,480,719       1,251,244  
Amortization of deferred acquisition and sales inducement costs
     (263,564 )     284,618       443,676  
Total benefits and expenses
     4,137,797       4,469,836       3,813,716  
Pretax income before noncontrolling interests
     335,093       927,117       1,293,188  
Income tax (benefit) expense
     (10,407 )     166,997       355,433  
Net income
     345,500       760,120       937,755  
Less:  Net (loss) income attributable to noncontrolling interests
     (5,269 )     4,958       (1,736 )
Net income attributable to Jackson
   $ 350,769     $ 755,162     $ 939,491  
 
See accompanying Notes to Consolidated Financial Statements.
 
3
 
Jackson National Life Insurance Company and Subsidiaries
(In thousands)
 
   
Years Ended December 31,
  
   
2014
    
2013
    
2012
  
Net income
   $ 345,500     $ 760,120     $ 937,755  
                         
Other comprehensive income (loss), net of tax:
                        
Net unrealized gains (losses) on securities not other-than-temporarily impaired (net of tax expense (benefit) of: 2014 $543,831; 2013 $(807,429); 2012 $403,751)
     1,007,605       (1,487,770 )     764,562  
                         
Net unrealized losses on other-than-temporarily impaired securities (net of tax benefit of: 2014 $8,410; 2013 $7,984; 2012 $25,563)
     (15,618 )     (14,826 )     (47,474 )
                         
Reclassification adjustment for losses included in net income (net of tax benefit of: 2014 $23,011; 2013 $43,708; 2012 $27,836)
     (42,737 )     (81,170 )     (51,696 )
                         
Total other comprehensive income (loss)
     949,250       (1,583,766 )     665,392  
Comprehensive income (loss)
     1,294,750       (823,646 )     1,603,147  
        Less: Comprehensive (loss) income attributable to noncontrolling interests
       (7,637 )     1,876       13,003  
Comprehensive income (loss) attributable to Jackson
   $ 1,302,387     $ (825,522 )   $ 1,590,144  
 
See accompanying Notes to Consolidated Financial Statements.
 
4
 
Jackson National Life Insurance Company and Subsidiaries
(In thousands)
 
                           
Accumulated
                        
         
Additional
          
Equity
    
Other
          
Total
    
Non-
        
   
Common
    
Paid-In
    
Shares Held
    
Compensation
    
Comprehensive
    
Retained
    
Stockholder's
    
Controlling
    
Total
  
   
Stock
    
Capital
    
In Trust
    
Reserve
    
Income
    
Earnings
    
Equity
    
Interests
    
Equity
  
Balances as of December 31, 2011
   $ 13,800     $ 3,730,901     $ (16,779 )   $ 7,967     $ 1,456,978     $ 869,753     $ 6,062,620     $ 27,729     $ 6,090,349  
Net income
     —       —       —       —       —       939,491       939,491       (1,736 )     937,755  
Change in unrealized investment gains and losses, net of tax
     —       —       —       —       650,653       —       650,653       14,739       665,392  
Capital contribution
     —       36,011       —       —       —       —       36,011       —       36,011  
Dividends to stockholder
     —       —       —       —       —       (400,000 )     (400,000 )     —       (400,000 )
Shares acquired at cost
     —       —       (25,220 )     —       —       —       (25,220 )     —       (25,220 )
Shares distributed at cost
     —       —       16,934       —       —       —       16,934       —       16,934  
Reserve for equity compensation plans
     —       —       —       17,107       —       —       17,107       —       17,107  
Fair value of shares issued under equity
                                                                  
compensation plans
     —       —       —       (12,131 )     —       —       (12,131 )     —       (12,131 )
Balances as of December 31, 2012
     13,800       3,766,912       (25,065 )     12,943       2,107,631       1,409,244       7,285,465       40,732       7,326,197  
                                                                         
Net income
     —       —       —       —       —       755,162       755,162       4,958       760,120  
Change in unrealized investment gains and losses, net of tax
     —       —       —       —       (1,580,684 )     —       (1,580,684 )     (3,082 )     (1,583,766 )
Capital contribution
     —       35,053       —       —       —       —       35,053       —       35,053  
Dividends to stockholder
     —       —       —       —       —       (507,000 )     (507,000 )     —       (507,000 )
Shares acquired at cost
     —       —       (21,208 )     —       —       —       (21,208 )     —       (21,208 )
Shares distributed at cost
     —       —       23,521       —       —       —       23,521       —       23,521  
Reserve for equity compensation plans
     —       —       —       13,129       —       —       13,129       —       13,129  
Fair value of shares issued under equity
                                                                  
compensation plans
     —       —       —       (7,624 )     —       —       (7,624 )     —       (7,624 )
Balances as of December 31, 2013
     13,800       3,801,965       (22,752 )     18,448       526,947       1,657,406       5,995,814       42,608       6,038,422  
                                                                         
Net income
     —       —       —       —       —       350,769       350,769       (5,269 )     345,500  
Change in unrealized investment gains and losses, net of tax
     —       —       —       —       951,618       —       951,618       (2,368 )     949,250  
Capital contribution
     —       14,114       —       —       —       —       14,114       —       14,114  
Dividends to stockholder
     —       —       —       —       —       (697,000 )     (697,000 )     —       (697,000 )
Shares acquired at cost
     —       —       (32,640 )     —       —       —       (32,640 )     —       (32,640 )
Shares distributed at cost
     —       —       28,308       —       —       —       28,308       —       28,308  
Reserve for equity compensation plans
     —       —       —       10,266       —       —       10,266       —       10,266  
Fair value of shares issued under equity
                                                                  
compensation plans
     —       —       —       (14,584 )     —       —       (14,584 )     —       (14,584 )
Balances as of December 31, 2014
   $ 13,800     $ 3,816,079     $ (27,084 )   $ 14,130     $ 1,478,565     $ 1,311,175     $ 6,606,665     $ 34,971     $ 6,641,636  
 
See accompanying Notes to Consolidated Financial Statements.
 
5
 
Jackson National Life Insurance Company and Subsidiaries
(In thousands)
 
   
Years Ended December 31,
  
   
2014
    
2013
    
2012
  
Cash flows from operating activities:
                  
Net income
   $ 345,500     $ 760,120     $ 937,755  
Adjustments to reconcile net income to net cash provided by
                        
operating activities:
                        
Net realized gains on investments
     (83,997 )     (81,145 )     (28,487 )
Net losses on derivatives
     3,236,398       1,865,137       585,288  
Interest credited on other contract holder funds, gross
     1,577,180       1,650,459       1,473,482  
Mortality, expense and surrender charges
     (745,227 )     (743,799 )     (462,531 )
Amortization of discount and premium on investments
     67,724       49,408       39,699  
Deferred income tax expense
     (415,974 )     277,078       53,323  
Share-based compensation
     46,384       39,947       32,946  
Change in:
                        
Accrued investment income
     (5,354 )     (3,707 )     (10,276 )
Deferred sales inducements and acquisition costs
     (1,387,067 )     (848,133 )     (832,841 )
Trading portfolio activity, net
     10,810       (128,415 )     (88,260 )
Income taxes receivable (payable)
     134,624       86,261       25,030  
Other assets and liabilities, net
     395,956       85,812       245,722  
Net cash provided by operating activities
     3,176,957       3,009,023       1,970,850  
                         
Cash flows from investing activities:
                        
Sales, maturities and repayments of:
                        
Fixed maturities
     5,644,799       5,798,733       6,507,615  
Commercial mortgage loans
     1,392,066       1,339,273       918,780  
Purchases of:
                        
Fixed maturities
     (5,242,317 )     (5,543,494 )     (5,294,561 )
Commercial mortgage loans
     (1,314,647 )     (1,654,026 )     (1,137,725 )
Purchase of REALIC, net of cash acquired
     —       (17,696 )     (354,172 )
Other investing activities
     (1,087,486 )     (2,489,841 )     (1,413,375 )
Net cash used in investing activities
     (607,585 )     (2,567,051 )     (773,438 )
                         
Cash flows from financing activities:
                        
Policyholders' account balances:
                        
Deposits
     26,279,026       25,196,030       23,226,461  
Withdrawals
     (13,386,586 )     (11,810,633 )     (9,101,692 )
Net transfers to separate accounts
     (14,267,126 )     (14,094,490 )     (14,164,019 )
Net (payments on) proceeds from repurchase agreements
     (125,646 )     415,271       (100,709 )
Net proceeds from (payments on) Federal Home Loan Bank notes
     —       200,000       (150,000 )
Net proceeds from (payments on) debt
     45,000       (7,500 )     (5,000 )
Shares held in trust at cost, net
     (4,332 )     2,313       (8,286 )
Payment of cash dividends to Parent
     (697,000 )     (507,000 )     (400,000 )
Net cash used in financing activities
     (2,156,664 )     (606,009 )     (703,245 )
                         
Net increase (decrease) in cash and cash equivalents
     412,708       (164,037 )     494,167  
                         
Cash and cash equivalents, beginning of year
     986,383       1,150,420       656,253  
Cash and cash equivalents, end of year
   $ 1,399,091     $ 986,383     $ 1,150,420  
                         
Supplemental Cash Flow Information
                        
Income tax paid (received)
   $ 256,829     $ (241,921 )   $ 241,201  
Interest paid
   $ 21,798     $ 21,900     $ 22,011  
 
See accompanying Notes to Consolidated Financial Statements.
 
6
 
Jackson National Life Insurance Company and Subsidiaries
December 31, 2014 and 2013
 
1.
Business and Basis of Presentation

Jackson National Life Insurance Company (the “Company” or “Jackson”) is wholly owned by Brooke Life Insurance Company (“Brooke Life” or the “Parent”), which is ultimately a wholly owned subsidiary of Prudential plc (“Prudential”), London, England. Jackson, together with its New York life insurance subsidiary, is licensed to sell group and individual annuity products (including immediate, index linked and deferred fixed annuities and variable annuities), guaranteed investment contracts (“GICs”) and individual life insurance products, including variable universal life, in all 50 states and the District of Columbia.

The consolidated financial statements include accounts, after the elimination of intercompany accounts and transactions, of the following:

·  
Life insurers: Jackson and its wholly owned subsidiaries Jackson National Life Insurance Company of New York, Squire Reassurance Company LLC (“Squire Re”), VFL International Life Company SPC, LTD and Jackson National Life (Bermuda) LTD;
·  
Wholly owned broker-dealer, investment management and investment advisor subsidiaries: Jackson National Life Distributors, LLC, Jackson National Asset Management, LLC, Curian Clearing, LLC and Curian Capital, LLC;
 ·  
PGDS (US One) LLC (“PGDS”), a wholly owned subsidiary that provides information technology services to Jackson and certain affiliates;
·  
Hermitage Management, LLC, a wholly owned subsidiary that holds and manages certain real estate related investments;
·  
Other insignificant wholly owned subsidiaries; and
·  
Other insignificant partnerships, limited liability companies and variable interest entities (“VIEs”) in which Jackson has a controlling interest or is deemed the primary beneficiary.
 
Acquisition
On September 4, 2012, the Company acquired 100% of the equity of SRLC America Holding Corp. (“SRLC”) from Swiss Re Life Capital Ltd (“Swiss Re”) for a preliminary purchase price of $663.3 million, which was reduced by a $73.9 million current net operating loss carryback income tax recoverable, resulting in an initial cash payment of $589.4 million at the time of sale. Subsequent adjustments through December 31, 2012 reduced the preliminary purchase price from $663.3 million to $587.3 million, which was subject to final agreement with Swiss Re. In 2013, after finalizing the opening balance sheet and the resolution of purchase price discussions with Swiss Re, the final purchase price was settled at $605.1 million.

SRLC’s primary subsidiary was Reassure America Life Insurance Company (“REALIC”), which was merged into Jackson as of December 31, 2012. REALIC’s primary business activity involved the acquisition of blocks of life insurance, including corporate owned life insurance, disability income and/or annuity contracts in force. In addition to REALIC, SRLC had other insignificant subsidiaries. Subsequent to the purchase, SRLC was dissolved and its subsidiaries became direct subsidiaries of Jackson.

Basis of Presentation
The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Intercompany accounts and transactions have been eliminated upon consolidation. Certain amounts in the 2013 notes to the consolidated financial statements have been reclassified to conform to the 2014 presentation.

During 2014, the Company identified certain balance sheet misclassifications through the application of its internal controls over financial reporting. After consideration was given to both qualitative and quantitative factors, the misclassifications were considered to be immaterial to the previously issued December 31, 2013 consolidated financial statements. The 2013 balances were corrected and resulted in a reduction of reinsurance recoverable and reserves for future policy benefits and claims payable of $761.6 million and a reclassification from reserves for future policy benefits and claims payable to other contract holder funds of $4,411.4 million. These items had no impact on the consolidated income statements, consolidated statements of comprehensive income, consolidated statements of equity or consolidated statements of cash flows.

7
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
The preparation of the consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions about future events that affect the amounts reported in the financial statements and the accompanying notes. Significant estimates or assumptions, as further discussed in the notes, include: 1) valuation of investments and derivative instruments, including fair values of securities deemed to be in an illiquid market and the determination of when an impairment is other-than-temporary; 2) assessments as to whether certain entities are variable interest entities, the existence of reconsideration events and the determination of which party, if any, should consolidate the entity; 3) assumptions impacting future gross profits, including but not limited to, policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates, used in the calculation of amortization of deferred acquisition costs and deferred sales inducements; 4) assumptions used in calculating policy reserves and liabilities, including but not limited to, policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates; 5) assumptions as to future earnings levels being sufficient to realize deferred tax benefits; 6) estimates related to establishment of loan loss reserves, allowances on receivables, liabilities for lawsuits and state guaranty fund assessments; 7) assumptions and estimates associated with the Company’s tax positions which impact the amount of recognized tax benefits recorded by the Company; 8) value of guaranteed benefits; and 9) value of business acquired, its recoverability and amortization. These estimates and assumptions are based on management’s best estimates and judgments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors deemed appropriate. As facts and circumstances dictate, these estimates and assumptions may be adjusted. Since future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in estimates, including those resulting from continuing changes in the economic environment, will be reflected in the financial statements in the periods the estimates are changed.

2.
Summary of Significant Accounting Policies

Changes in Accounting Principles – Adopted in Current Year
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” in order to explicitly define the financial statement presentation requirements in GAAP. ASU No. 2013-11 provides that unrecognized tax benefits should be presented as a reduction of a deferred tax asset for a net operating loss or other tax credit carryforward when settlement in this manner is available under the tax law. Effective January 1, 2014, the Company adopted ASU No. 2013-11 with no impact on the Company’s consolidated financial statements.

In June 2013, the FASB issued ASU No. 2013-08, “Financial Services – Investment Companies – Amendments to the Scope, Measurement, and Disclosure Requirements,” which amends the criteria a company must meet to qualify as an investment company and provides comprehensive accounting guidance for assessing whether an entity is an investment company. Effective January 1, 2014, the Company adopted ASU No. 2013-08 with no impact on the Company’s consolidated financial statements.

Changes in Accounting Principles – Issued but Not Yet Adopted
In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern,” which defines management’s responsibility to evaluate whether there is substantial doubt about the organization’s ability to continue as a going concern and to provide related disclosures in the footnotes. Management is required to evaluate for each annual period whether it is probable that the entity will not be able to meet its obligations as they become due within one year after the date that financial statements are issued, or available to be issued. ASU No. 2014-15 is effective for periods beginning after December 15, 2016 and is not expected to have an impact on the Company’s consolidated financial statements.

In June 2014, the FASB issued ASU No. 2014-11, “Repurchase-to-Maturity Transactions, Repurchase Financings and Disclosures.” The new guidance changes the accounting for repurchase-to-maturity transactions and repurchase financing such that they will be consistent with secured borrowing accounting. In addition, the guidance requires new disclosures for all repurchase agreements and securities lending transactions. ASU No. 2014-11 is effective for periods beginning after December 15, 2014 and is not expected to have a material impact on the Company’s consolidated financial statements.
 
8
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers,” which clarifies the principles of recognizing revenue. This standard establishes the core principle of recognizing revenue to depict the transfer of promised goods or services in an amount that reflects the consideration the entity expects to be entitled in exchange for those goods or services. The FASB defines a five-step process which systematically identifies the various components of the revenue recognition process, culminating with the recognition of revenue upon satisfaction of an entity’s performance obligation. The guidance also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from cost incurred to obtain or fulfill a contract. This guidance does not apply to insurance contracts within the scope of Accounting Standards Codification Topic 944, “Financial Services – Insurance.” Early adoption is not permitted. ASU No. 2014-09 is effective retrospectively for periods beginning after December 15, 2016. The Company is currently assessing the impact of the guidance on the Company’s consolidated financial statements and disclosures.

Comprehensive Income
Comprehensive income includes all changes in stockholder’s equity (except those arising from transactions with owners/stockholders) and, in the Company’s case, includes net income and net unrealized gains or losses on available for sale securities.

Investments
Fixed maturities consist primarily of bonds, notes, and asset-backed securities. Acquisition discounts and premiums on fixed maturities are amortized into investment income through call or maturity dates using the effective interest method. Discounts and premiums on asset-backed securities are amortized over the estimated redemption period. Certain asset-backed securities are considered to be other than high quality or otherwise deemed to be high-risk, meaning the Company might not recover substantially all of its recorded investment due to unanticipated prepayment events. For these securities, changes in investment yields due to changes in estimated future cash flows are accounted for on a prospective basis. The carrying value of such securities was $662.8 million and $826.3 million as of December 31, 2014 and 2013, respectively.

Fixed maturities are generally classified as available for sale and are carried at fair value. For declines in fair value considered to be other-than-temporary, an impairment charge reflecting the difference between the amortized cost basis and fair value is included in net realized losses on investments. If management believes the Company does not intend to sell the security and is not more likely than not to be required to sell the security prior to recovery of its amortized cost basis, an amount representing the non-credit related portion of a loss is reclassified out of net realized losses on investments and into other comprehensive income. In determining whether an other-than-temporary impairment has occurred, and in calculating the non-credit related component of the total impairment loss, the Company considers a number of factors, which are further described in Note 3.

Equity securities are classified as trading. Trading securities are carried at fair value with changes in value included in net investment income.

Commercial mortgage loans are carried at the aggregate unpaid principal balance, adjusted for any applicable unamortized discount or premium, impairments or allowance for loan losses.

On a periodic basis, the Company assesses the commercial mortgage loan portfolio for the need for an allowance for loan losses. In determining its allowance for loan losses, the Company evaluates each loan to determine if it is probable that amounts due according to the contractual terms of the loan agreement will not be collected. The allowance includes loan specific reserves for loans that are determined to be non-performing as a result of this loan review process and a portfolio reserve for probable incurred but not specifically identified losses for performing loans. The loan specific portion of the loss allowance is based on the Company’s assessment as to ultimate collectability of loan principal and interest, or other value expected in lieu of loan principal and interest. This review contemplates a variety of factors which may include, but are not limited to, current economic conditions, the physical condition of the property, the financial condition of the borrower, and the near and long-term prospects for change in these conditions. In determining the portfolio reserve for incurred but not specifically identified losses, Jackson considers the current credit composition of the portfolio based on the results of its loan modeling analysis, which considers property type, default statistics, historical losses and other relevant factors to determine probability of default and other default loss estimates. Model assumptions are updated each quarter and, based upon actual loan
 
9
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
experience, are considered together with other relevant qualitative factors in making the final portfolio reserve calculations. The valuation allowance for commercial mortgage loans can increase or decrease from period to period based on these factors. Changes in the allowance for loan losses are recorded in net investment income.

Separately, the Company also reviews individual loans in the portfolio for impairment based on an assessment of the factors identified above. Impairment charges recognized are recorded initially against the established loan loss allowance and, if necessary, any additional amounts are recorded as realized losses. As deemed necessary based on cash flow expectations and other factors, Jackson may place loans on non-accrual status. In this case, all cash received is applied against the carrying value of the loan.

Policy loans are loans the Company issues to contract holders that use the cash surrender value of their life insurance policy or annuity contract as collateral. In connection with the acquisition of REALIC, the Company elected the fair value option upon acquisition of policy loans held as collateral for reinsurance, further described below. At December 31, 2014 and 2013, $3.2 billion and $3.1 billion of these loans were carried at fair value, respectively, which the Company believes is equal to the unpaid principal balances plus accrued investment income. At both December 31, 2014 and 2013, the Company had $1.3 billion of policy loans not held as collateral for reinsurance, which were carried at the unpaid principal balances.

Other invested assets primarily include investments in limited partnerships and real estate. The Company has elected the fair value option for limited partnerships, which is consistent with the role of these investments within the investment portfolio. Carrying values for limited partnership investments are determined by using the proportion of the Company’s investment in each fund (Net Asset Value (“NAV”) equivalent) as a practical expedient for fair value.

Real estate is carried at the lower of depreciated cost or fair value.

The Company holds interests in VIEs that represent primary beneficial interests. These consolidated VIEs are comprised of entities structured to hold and manage investments.

Realized gains and losses on sales of investments are recognized in income at the date of sale and are determined using the specific cost identification method.

In connection with the acquisition of REALIC, the Company elected the fair value option for certain assets which are held as collateral for reinsurance, as further described below. Accordingly, the Company established a funds held liability, for which the Company also elected the fair value option. The value of the funds held liability is equal to the fair value of the assets held as collateral. The income and any changes in unrealized gains and losses on these assets and the corresponding funds held liability are included in net investment income and have no impact on the Company’s consolidated income statements.

The changes in unrealized gains and losses on certain investments, which are classified as available for sale and the non-credit related portion of other-than-temporary impairment charges, are excluded from net income and included as a component of other comprehensive income and total equity, net of tax and the effect of the adjustment for deferred acquisition costs and deferred sales inducements. The changes in unrealized gains and losses on investments for which Jackson elected the fair value option are included in net investment income.

Derivative Instruments and Embedded Derivatives
The Company enters into financial derivative transactions, including, but not limited to, swaps, put-swaptions, futures and options to reduce and manage business risks. These transactions manage the risk of a change in the value, yield, price, cash flows, credit quality or degree of exposure with respect to assets, liabilities or future cash flows which the Company has acquired or incurred. The Company manages the potential credit exposure for over-the-counter derivative contracts through careful evaluation of the counterparty credit standing, collateral agreements, and master netting agreements. The Company is exposed to credit-related losses in the event of nonperformance by counterparties, however, it does not anticipate nonperformance. There were no charges due to nonperformance by derivative counterparties in 2014, 2013, or 2012.

The Company generally uses freestanding derivative instruments for hedging purposes. Additionally, certain liabilities, primarily trust instruments supported by funding agreements, index linked annuities and guarantees offered
 
10
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
in connection with variable annuities issued by the Company, may contain embedded derivative instruments. Further details regarding Jackson’s derivative positions are included in Note 4. The Company generally does not account for freestanding derivatives as either fair value or cash flow hedges as might be permitted if specific hedging documentation requirements were followed. Financial derivatives, including derivatives embedded in certain host liabilities that have been separated for accounting and financial reporting purposes, are carried at fair value. The results from freestanding derivative instruments and embedded derivatives, including net payments, realized gains and losses and changes in value, are reported in net income, as further detailed in Note 4.

Cash and Cash Equivalents
Cash and cash equivalents primarily include money market instruments and bank deposits.

Fair Value Measurement
Fair value measurements are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. All financial assets and liabilities measured at fair value are required to be classified into one of the following categories:
Level 1
Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 1 securities include U.S. Treasury securities and exchange traded equity securities and derivative instruments.

Level 2
Observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Most fixed maturity securities that are model priced using observable inputs are classified within Level 2. Also included are freestanding and embedded derivative instruments that are priced using models with observable market inputs.

Level 3
Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk). Limited partnership interests and those embedded derivative instruments that are valued using unobservable inputs are included in Level 3. Because Level 3 fair values, by their nature, contain unobservable market inputs, considerable judgment may be used to determine the Level 3 fair values. Level 3 fair values represent the Company’s best estimate of an amount that could be realized in a current market exchange absent actual market exchanges.

In many situations, inputs used to measure the fair value of an asset or liability may fall into different levels of the fair value hierarchy. In these situations, the Company determines the level in which the fair value falls based upon the lowest level input that is significant to the determination of the fair value. As a result, both observable and unobservable inputs may be used in the determination of fair values that the Company has classified within Level 3.

The Company determines the fair values of certain financial assets and liabilities based on quoted market prices, where available. The Company may also determine fair value based on estimated future cash flows discounted at the appropriate current market rate. When appropriate, fair values reflect adjustments for counterparty credit quality, the Company’s credit standing, liquidity and risk margins on unobservable inputs.

Where quoted market prices are not available, fair value estimates are made at a point in time, based on relevant market data, as well as the best information about the individual financial instrument. At times, illiquid market conditions may result in inactive markets for certain of the Company’s financial instruments. In such instances, there may be no or limited observable market data for these assets and liabilities. Fair value estimates for financial instruments deemed to be in an illiquid market are based on judgments regarding current economic conditions, liquidity discounts, currency, credit and interest rate risks, loss experience and other factors. These fair values are estimates and involve considerable uncertainty and variability as a result of the inputs selected and may differ materially from the values that would have been used had an active market existed. As a result of market inactivity, such calculated fair value estimates may not be realizable in an immediate sale or settlement of the instrument. In addition, changes in the underlying assumptions used in the fair value measurement technique could significantly affect these fair value estimates.
 
11
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Refer to Note 5 for further discussion of the methodologies used to determine fair values of the Company’s financial instruments.

Deferred Acquisition Costs
Under current accounting guidance, certain costs that are directly related to the successful acquisition of new or renewal insurance business can be capitalized as deferred acquisition costs. These costs primarily pertain to commissions and certain costs associated with policy issuance and underwriting. All other acquisition costs are expensed as incurred.

Deferred acquisition costs are increased by interest thereon and amortized into income in proportion to anticipated premium revenues for traditional life policies and in proportion to estimated gross profits, including realized gains and losses and derivative movements, for annuities and interest-sensitive life products. Due to volatility of certain factors that affect gross profits, including realized capital gains and losses and derivative movements, amortization may be a benefit or a charge in any given period. In the event of negative amortization, the related deferred acquisition cost balance is capped at the initial amount capitalized, plus interest. Unamortized deferred acquisition costs are written off when a contract is internally replaced and substantially changed.

As certain fixed maturities available for sale are carried at fair value, an adjustment is made to deferred acquisition costs equal to the change in amortization that would have occurred if such securities had been sold at their stated fair value and the proceeds reinvested at current yields. This adjustment, along with the change in net unrealized gains (losses) on fixed maturities available for sale, net of applicable tax, is credited or charged directly to equity as a component of other comprehensive income. At December 31, 2014 and 2013, deferred acquisition costs decreased by $725.9 million and $591.0 million, respectively, to reflect this adjustment.

For variable annuity business, the Company employs a mean reversion methodology that is applied with the objective of adjusting the amortization of deferred acquisition costs that would otherwise be highly volatile due to fluctuations in the level of future gross profits arising from changes in equity market levels. The mean reversion methodology achieves this objective by applying a dynamic adjustment to the assumption for short-term future investment returns. Under this methodology, the projected returns for the next five years are set such that, when combined with the actual returns for the current and preceding two years, the average rate of return over the eight-year period is 7.4% for both 2014 and 2013, after investment management fees. The mean reversion methodology does, however, include a cap and a floor of 15% and 0% per annum, respectively, on the projected return for each of the next five years. At December 31, 2014 and 2013, projected returns after the next five years were set at 7.4%. At December 31, 2014 and 2013, projected returns under mean reversion were within the range bounded by the 15% cap and 0% floor.

Deferred acquisition costs are reviewed periodically to ensure that the unamortized portion does not exceed the expected recoverable amounts. Any amount deemed unrecoverable is written off with a charge through deferred acquisition costs amortization. No such write-offs were required for 2014, 2013, and 2012.

Deferred Sales Inducements
Under current accounting guidance, certain sales inducement costs that are directly related to the successful acquisition of new or renewal insurance business can be capitalized as deferred sales inducement costs. Bonus interest on deferred fixed annuities and contract enhancements on index linked annuities and variable annuities are capitalized as deferred sales inducements and included in other assets. Deferred sales inducements are increased by interest thereon and amortized into income in proportion to estimated gross profits, including realized capital gains and losses and derivative movements. Due to volatility of certain factors that affect gross profits, including realized capital gains and losses and derivative movements, amortization may be a benefit or a charge in any given period. In the event of negative amortization, the related deferred sales inducements balance is capped at the initial amount capitalized, plus interest. Unamortized deferred sales inducements are written off when a contract is internally replaced and substantially changed.

As certain fixed maturities available for sale are carried at fair value, an adjustment is made to deferred sales inducements equal to the change in amortization that would have occurred if such securities had been sold at their stated fair value and the proceeds reinvested at current yields. This adjustment, along with the change in net unrealized gains (losses) on fixed maturities available for sale, net of applicable tax, is credited or charged directly to
 
12
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
equity as a component of other comprehensive income. At December 31, 2014 and 2013, deferred sales inducements decreased by $129.9 million and $104.8 million, respectively, to reflect this adjustment.
 
For variable annuity business, the Company employs the same mean reversion methodology as is employed for deferred acquisition costs as described above.

Deferred sales inducements are reviewed periodically to ensure that the unamortized portion does not exceed the expected recoverable amounts. Any amount deemed unrecoverable is written off with a charge through deferred sales inducements amortization. No such write-offs were required for 2014, 2013, and 2012.

Actuarial Assumption Changes (Unlocking)
Annually, or as circumstances warrant, the Company conducts a comprehensive review of the assumptions used for its estimates of future gross profits underlying the amortization of deferred acquisition costs and deferred sales inducements, as well as the valuation of the embedded derivatives and reserves for life insurance and annuity products with living benefit and death benefit guarantees. These assumptions include, but may not be limited to, policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates. Based on this review, the cumulative balances of deferred acquisition costs, deferred sales inducements and life and annuity guaranteed benefit reserves are adjusted with a corresponding benefit or charge to net income.

Reinsurance and Funds Held Under Reinsurance Treaties
The Company enters into assumed and ceded reinsurance agreements with other companies in the normal course of business. Ceded reinsurance agreements are reported on a gross basis on the Company’s consolidated balance sheets as an asset for amounts recoverable from reinsurers or as a component of other assets or liabilities for amounts, such as premiums, owed to or due from reinsurers. Reinsurance assumed and ceded premiums and benefits paid or provided are accounted for on bases consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Premium income and benefit expenses are reported net of reinsurance assumed and ceded.

In connection with and prior to the previously mentioned acquisition, REALIC entered into three retrocession reinsurance agreements (“retro treaties”) with Swiss Reinsurance Company Ltd. (“SRZ”). Pursuant to these retro treaties, the Company ceded to SRZ on a 100% coinsurance basis, subject to pre-existing reinsurance with other parties, certain blocks of business written or assumed by REALIC.

As a result of these retro treaties, the Company holds certain assets, primarily in the form of policy loans and fixed maturities, as collateral for the reinsurance recoverable. Investment income and realized gains or losses earned on assets held as collateral are paid by the Company to SRZ, pursuant to the terms of the treaties. Investment income and realized gains and losses are reported net of investment income and realized gains and losses on funds held under reinsurance treaties, with no net impact on the Company’s consolidated income statements.

The income credited to SRZ on the funds held for the retro treaties is based on the income earned on those assets, which results in an embedded derivative (total return swap). However, at acquisition, the Company elected the fair value option for the funds held liability, which is carried at fair value with changes in fair value reported in net investment income. Accordingly, the embedded derivative is not bifurcated or separately valued.

Value of Business Acquired
As a result of the acquisition of SRLC in 2012, the Company recorded an intangible asset representing the value of business acquired (“VOBA”), which is included in other assets. In connection with the acquisition of insurance policies and investment contracts, a portion of the purchase price is assigned to the right to receive future gross profits from the acquired insurance policies and investment contracts. This intangible asset, or VOBA, represents the actuarially estimated present value of future cash flows from the acquired policies. The Company established a VOBA intangible asset for the acquired traditional life insurance products and deferred annuity contracts, as a result of the acquisition of SRLC. This intangible asset will be amortized over the life of the business, which approximates 20 years. The unamortized VOBA balance is subject to recoverability testing at the end of each reporting period to ensure that the balance does not exceed the present value of anticipated gross profits.
 
13
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Income Taxes
The Company files income tax returns with the U.S. federal government and various state and local jurisdictions, as well as certain foreign jurisdictions.
 
Jackson files a consolidated federal income tax return with Brooke Life and Jackson National Life Insurance Company of New York. Jackson National Life (Bermuda) LTD and VFL International Life Company SPC, LTD are taxed as controlled foreign corporations of Jackson. With the exception of several insignificant wholly owned subsidiaries that aren’t included in the Jackson consolidated tax return, all other subsidiaries are limited liability companies with all of their interests owned by Jackson. Accordingly, they are not considered separate entities for income tax purposes and, therefore, are taxed as part of the operations of Jackson. Income tax expense is the lesser of the amount calculated on a separate company basis or Jackson’s pro-rata share of the actual liability as determined under the consolidated return taking into account only Jackson and Brooke Life.

Deferred federal income taxes arise from the recognition of temporary differences between the basis of assets and liabilities determined for financial reporting purposes and the basis determined for income tax purposes. Such temporary differences are principally related to the effects of recording certain invested assets at market value, the deferral of acquisition costs and sales inducements and the provisions for future policy benefits and expenses. Deferred tax assets and liabilities are measured using the tax rates expected to be in effect when such benefits are realized. Jackson is required to test the value of deferred tax assets for realizability. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available positive and negative evidence, it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. In determining the need for a valuation allowance, the Company considers the carryback eligibility of losses, reversal of existing temporary differences, estimated future taxable income and tax planning strategies.

The determination of the valuation allowance for Jackson’s deferred tax assets requires management to make certain judgments and assumptions regarding future operations that are based on historical experience and expectations of future performance. In order to recognize a tax benefit in the consolidated financial statements, there must be a greater than fifty percent chance of success of the Company’s position being sustained by the relevant taxing authority with regard to that tax position. Management’s judgments are potentially subject to change given the inherent uncertainty in predicting future performance, which is impacted by such factors as policyholder behavior, competitor pricing and other specific industry and market conditions.

The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits as a component of tax expense.
 
Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds
For traditional life insurance contracts, which include term and whole life, reserves for future policy benefits are determined using the net level premium method and assumptions as of the issue date or acquisition date as to mortality, interest, persistency and expenses plus provisions for adverse deviations. These assumptions are not unlocked unless the reserve is determined to be deficient. Mortality assumptions range from 25% to 175% of the 1975-1980 Basic Select and Ultimate tables depending on policy duration. Interest rate assumptions range from 2.5% to 6.0%. Lapse and expense assumptions are based on Company experience. The Company’s liability for future policy benefits also includes net liabilities for guaranteed benefits related to certain nontraditional long-duration life and annuity contracts, which are further discussed in Note 9.

Upon acquisition of REALIC, the Company recorded a fair value adjustment related to certain annuity and interest sensitive liability blocks of business to reflect the cost of the interest guarantees within the inforce liabilities, based on the difference between the guaranteed interest rate and an assumed new money guaranteed interest rate. This adjustment was recorded in reserves for future policy benefits and claims payable. This component of the acquired reserves is reassessed at the end of each period, taking into account changes in the inforce block. Any resulting change in the reserve is recorded as a change in reserve through the consolidated income statements.

For the Company’s interest-sensitive life contracts, liabilities approximate the policyholder’s account value, plus the remaining balance of the fair value adjustment related to the REALIC acquired business. For deferred annuities, the liability is the policyholder’s account value, plus the unamortized balance of the fair value adjustment related to the REALIC acquired business. For the fixed option on variable annuities, guaranteed investment contracts and other
 
14
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
investment contracts, the liability is the policyholder’s account value. The liability for index linked annuities is based on two components, 1) the imputed value of the underlying guaranteed host contract and 2) the fair value of the embedded option component of the contract.

The Company has formed both a special purpose vehicle and a statutory business trust, solely for the purpose of issuing Medium Term Note instruments to institutional investors, the proceeds of which are deposited with the Company and secured by the issuance of funding agreements.

Those Medium Term Note instruments issued in a foreign currency have been economically hedged for changes in exchange rates using cross-currency swaps. The fair value of derivatives embedded in funding agreements, including unrealized foreign currency gains and losses, are included in the carrying value of the trust instruments supported by funding agreements.

Trust instrument liabilities are adjusted to reflect the effects of foreign currency gains and losses using exchange rates as of the reporting date. Foreign currency gains and losses are included in other investment losses.

Jackson and Squire Re are members of the Federal Home Loan Bank of Indianapolis (“FHLBI”) primarily for the purpose of participating in the bank’s mortgage-collateralized loan advance program with short-term and long-term funding facilities. Members are required to purchase and hold a minimum amount of FHLBI capital stock plus additional stock based on outstanding advances. Advances are in the form of short-term or long-term notes or funding agreements issued to FHLBI.

The Company’s institutional products business is comprised of the guaranteed investment contracts, funding agreements and FHLBI funding agreement advances described above.

Contingent Liabilities
The Company is a party to legal actions and, at times, regulatory investigations. Given the inherent unpredictability of these matters, it is difficult to estimate their impact on the Company’s financial position. A reserve is established for contingent liabilities if it is probable that a loss has been incurred and the amount is reasonably estimable. It is possible that an adverse outcome in certain of the Company’s contingent liabilities, or the use of different assumptions in the determination of amounts recorded, could have a material effect upon the Company’s financial position. However, it is the opinion of management that the ultimate disposition of contingent liabilities is unlikely to have a material adverse effect on the Company’s financial position.

Separate Account Assets and Liabilities
The Company maintains separate account assets, which are reported at fair value. The related liabilities are reported at an amount equivalent to the separate account assets. At December 31, 2014 and 2013, the assets and liabilities associated with variable life and annuity contracts were $127.5 billion and $108.8 billion, respectively. Investment risks associated with market value changes are borne by the contract holders, except to the extent of minimum guarantees made by the Company. Refer to Note 9 for additional information regarding the Company’s contractual guarantees. Separate account net investment income, net investment realized and unrealized gains and losses, and the related liability changes are offset within the same line item in the consolidated income statements. Amounts assessed against the contract holders for mortality, administrative, and other services are reported in revenue as fee income.

Included in the above mentioned assets and liabilities is a Company issued group variable annuity contract designed for use in connection with and issued to the Company’s Defined Contribution Retirement Plan. These deposits are allocated to the Jackson National Separate Account – II, which had balances of $332.0 million and $290.6 million at December 31, 2014 and 2013, respectively. The Company receives administrative fees for managing the funds. These fees are recorded as earned and included in fee income in the consolidated income statements.

Debt
Liabilities for the Company’s debt are primarily carried at an amount equal to the unpaid principal balance. Original issuance discount or premium and any debt issue costs, if applicable, are recognized as a component of interest expense over the period the debt is expected to be outstanding. Refer to Note 10 for further information regarding the Company’s debt.
 
15
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Share-Based Compensation
As more fully described in Note 14, the Company has certain share award plans that are either equity settled or liability settled. For equity settled share award plans, the Company recognizes compensation expense based on a grant-date award fair value as determined using either the Black-Scholes model or the Monte Carlo model, ratably over the requisite service period of each individual grant, which generally equals the vesting period. For the liability settled share award plans, the associated compensation expense is recognized based on the change in fair value of the award at the end of each reporting period due to cash settlement alternatives.

Revenue and Expense Recognition
Premiums for traditional life insurance are reported as revenues when due. Benefits, claims and expenses are associated with earned revenues in order to recognize profit over the lives of the contracts. This association is accomplished through provisions for future policy benefits and the deferral and amortization of certain acquisition costs.

Deposits on interest-sensitive life products and investment contracts, principally deferred annuities and guaranteed investment contracts, are treated as policyholder deposits and excluded from revenue. Revenues consist primarily of investment income and charges assessed against the account value for mortality charges, surrenders, variable annuity benefit guarantees and administrative expenses. Fee income also includes revenues related to asset management fees and certain service fees. Surrender benefits are treated as repayments of the policyholder account. Annuity benefit payments are treated as reductions to the policyholder account. Death benefits in excess of the policyholder account are recognized as an expense when incurred. Expenses consist primarily of the interest credited to policyholder deposits. Underwriting and other direct acquisition expenses are associated with gross profit in order to recognize profit over the life of the business. This is accomplished through deferral and amortization of acquisition costs and sales inducements. Expenses not related to policy acquisition are recognized when incurred.

Investment income is not accrued on securities in default and otherwise where the collection is uncertain. In these cases, receipts of interest on such securities are used to reduce the cost basis of the securities.

Subsequent Events
The Company has evaluated events through March 6, 2015, which is the date the consolidated financial statements were available to be issued.

3.
Investments

Investments are comprised primarily of fixed-income securities, primarily publicly-traded corporate and government bonds, asset-backed securities and commercial mortgage loans. Asset-backed securities include mortgage-backed and other structured securities. The Company generates the majority of its general account deposits from interest-sensitive individual annuity contracts, life insurance products and guaranteed investment contracts on which it has committed to pay a declared rate of interest. The Company’s strategy of investing in fixed-income securities and loans aims to ensure matching of the asset yield with the amounts credited to the interest-sensitive liabilities and to earn a stable return on its investments.
 
16
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Fixed Maturities
The following table sets forth the composition of the fair value of fixed maturities at December 31, 2014, classified by rating categories as assigned by nationally recognized statistical rating organizations (“NRSRO”), the National Association of Insurance Commissioners (“NAIC”), or if not rated by such organizations, the Company’s affiliated investment advisor. At December 31, 2014, the carrying value of investments rated by the Company’s affiliated investment advisor totaled $256.6 million. For purposes of the table, if not otherwise rated higher by a NRSRO, NAIC Class 1 investments are included in the A rating; Class 2 in BBB; Class 3 in BB and Classes 4 through 6 in B and below.
 
  Percent of Total Fixed Maturities Carrying Value
Investment Rating
       December 31, 2014  
AAA
      22.2%
AA
      6.4%
A      31.6%
BBB
      34.8%
Investment grade
      95.0%
BB
      2.8%
B and below
      2.2%
Below investment grade
      5.0%
Total fixed maturities
      100.0%

At December 31, 2014, based on ratings by NRSROs, of the total carrying value of fixed maturities in an unrealized loss position, 83% were investment grade, 7% were below investment grade and 10% were not rated. Unrealized losses on fixed maturities that were below investment grade or not rated were approximately 28% of the aggregate gross unrealized losses on available for sale fixed maturities.

Corporate securities in an unrealized loss position were diversified across industries. As of December 31, 2014, the industries accounting for the larger percentage of unrealized losses included energy (31% of fixed maturities gross unrealized losses) and basic industry (8%). The largest unrealized loss related to a single corporate obligor was $7.4 million at December 31, 2014.
 
17
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
At December 31, 2014 and 2013, the amortized cost, gross unrealized gains and losses, fair value and non-credit other-than-temporary impairment (“OTTI”) of available for sale fixed maturities, including $142.6 million and $164.8 million in securities carried at fair value under the fair value option, were as follows (in thousands):
 
         
Gross
    
Gross
              
   
Amortized
    
Unrealized
    
Unrealized
    
Fair
    
Non-credit
  
December 31, 2014
  
Cost (1)
    
Gains
    
Losses
    
Value
    
OTTI (2)
  
Fixed Maturities
                              
U.S. government securities
   $ 4,839,189     $ 318,904     $ 23,373     $ 5,134,720     $ —  
Other government securities
     1,061,471       5,088       9,445       1,057,114       —  
Public utilities
     4,197,016       445,398       5,803       4,636,611       —  
Corporate securities
     31,436,874       1,923,803       191,462       33,169,215       —  
Residential mortgage-backed
     2,365,030       90,801       23,545       2,432,286       (46,350 )
Commercial mortgage-backed
     3,397,229       226,476       16,766       3,606,939       137  
Other asset-backed securities
     948,686       28,005       34,999       941,692       (21,846 )
Total fixed maturities
   $ 48,245,495     $ 3,038,475     $ 305,393     $ 50,978,577     $ (68,059 )
 
         
Gross
    
Gross
              
   
Amortized
    
Unrealized
    
Unrealized
    
Fair
    
Non-credit
  
December 31, 2013
  
Cost (1)
    
Gains
    
Losses
    
Value
    
OTTI (2)
  
Fixed Maturities
                              
U.S. government securities
   $ 4,923,547     $ 116,113     $ 522,827     $ 4,516,833     $ —  
Other government securities
     1,160,904       247       163,165       997,986       (150 )
Public utilities
     4,190,566       323,127       61,707       4,451,986       —  
Corporate securities
     30,876,619       1,732,115       550,449       32,058,285       —  
Residential mortgage-backed
     2,901,888       61,468       60,532       2,902,824       (17,496 )
Commercial mortgage-backed
     3,578,810       293,747       45,670       3,826,887       (4,154 )
Other asset-backed securities
     987,680       19,266       32,642       974,304       (3,790 )
Total fixed maturities
   $ 48,620,014     $ 2,546,083     $ 1,436,992     $ 49,729,105     $ (25,590 )
 
 (1)Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option.
 
(2) Represents the amount of non-credit OTTI gains (losses) recognized in other comprehensive income on securities for which credit impairments have been recorded.
 
The amortized cost, gross unrealized gains and losses, and fair value of fixed maturities at December 31, 2014, by contractual maturity, are shown below (in thousands). Actual maturities may differ from contractual maturities where securities can be called or prepaid with or without early redemption penalties.
 
         
Gross
    
Gross
        
   
Amortized (1)
    
Unrealized
    
Unrealized
        
   
Cost
    
Gains
    
Losses
    
Fair Value
  
Due in 1 year or less
   $ 1,492,621     $ 26,739     $ 90     $ 1,519,270  
Due after 1 year through 5 years
     8,990,596       775,738       8,001       9,758,333  
Due after 5 years through 10 years
     22,076,976       1,165,875       138,291       23,104,560  
Due after 10 years through 20 years
     2,967,120       246,546       9,184       3,204,482  
Due after 20 years
     6,007,237       478,295       74,517       6,411,015  
Residential mortgage-backed
     2,365,030       90,801       23,545       2,432,286  
Commercial mortgage-backed
     3,397,229       226,476       16,766       3,606,939  
Other asset-backed securities
     948,686       28,005       34,999       941,692  
Total
   $ 48,245,495     $ 3,038,475     $ 305,393     $ 50,978,577  
 
(1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option.
 
18
 
 Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Fixed maturities with a carrying value of $116.0 million and $105.4 million at December 31, 2014 and 2013, respectively, were on deposit with regulatory authorities, as required by law in various states in which business is conducted.

At December 31, 2014 and 2013, fixed maturities include $129.7 million and $144.6 million, respectively, held in trust pursuant to the retro treaties with SRZ.

Residential mortgage-backed securities (“RMBS”) include certain RMBS, which are collateralized by residential mortgage loans and are neither explicitly nor implicitly guaranteed by U.S. government agencies (“non-agency RMBS”). The Company’s non-agency RMBS include investments in securities backed by prime, Alt-A, and subprime loans as follows (in thousands):

         
Gross
    
Gross
        
   
Amortized
    
Unrealized
    
Unrealized
    
Fair
  
December 31, 2014
  
Cost
    
Gains
    
Losses
    
Value
  
Prime
   $ 404,048     $ 17,209     $ 3,973     $ 417,284  
Alt-A
     361,607       19,156       2,854       377,909  
Subprime
     371,339       7,715       13,931       365,123  
Total non-agency RMBS
   $ 1,136,994     $ 44,080     $ 20,758     $ 1,160,316  
 
         
Gross
    
Gross
        
   
Amortized
    
Unrealized
    
Unrealized
    
Fair
  
December 31, 2013
  
Cost
    
Gains
    
Losses
    
Value
  
Prime
   $ 516,277     $ 13,852     $ 6,730     $ 523,399  
Alt-A
     443,920       6,093       5,451       444,562  
Subprime
     442,376       6,433       25,475       423,334  
Total non-agency RMBS
   $ 1,402,573     $ 26,378     $ 37,656     $ 1,391,295  
 
The Company defines its exposure to non-agency residential mortgage loans as follows. Prime loan-backed securities are collateralized by mortgage loans made to the highest rated borrowers. Alt-A loan-backed securities are collateralized by mortgage loans made to borrowers who lack credit documentation or necessary requirements to obtain prime borrower rates. Subprime loan-backed securities are collateralized by mortgage loans made to borrowers that have a FICO score of 680 or lower.
 
19
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
The following table summarizes the number of securities, fair value and the related amount of gross unrealized losses aggregated by investment category and length of time that individual fixed maturities have been in a continuous loss position (dollars in thousands):

   
December 31, 2014
    
December 31, 2013
  
                                     
   
Less than 12 months
    
Less than 12 months
  
   
Gross
                
Gross
              
   
Unrealized
          
# of
    
Unrealized
          
# of
  
   
Losses
  
Fair Value
    
securities
    
Losses
    
Fair Value
    
securities
  
U.S. government securities
   $ 518     $ 36,181       4     $ 40,578     $ 1,090,585       10  
Other government securities
     100       31,717       2       81,564       556,464       34  
Public utilities
     496       47,956       12       48,065       978,938       90  
Corporate securities
     95,577       2,722,165       267       398,549       8,198,063       693  
Residential mortgage-backed
     1,190       109,022       20       21,660       747,039       77  
Commercial mortgage-backed
     728       171,336       10       23,436       772,286       61  
Other asset-backed securities
     13,647       201,095       31       2,454       201,089       31  
Total temporarily impaired
                                                
securities
   $ 112,256     $ 3,319,472       346     $ 616,306     $ 12,544,464       996  
 
   
12 months or longer
    
12 months or longer
  
   
Gross
                
Gross
              
   
Unrealized
          
# of
    
Unrealized
          
# of
  
   
Losses
    
Fair Value
    
securities
    
Losses
    
Fair Value
    
securities
  
U.S. government securities
   $ 22,854     $ 1,387,984       14     $ 482,249     $ 1,631,975       11  
Other government securities
     9,345       577,550       22       81,601       352,888       14  
Public utilities
     5,307       195,916       29       13,642       84,753       22  
Corporate securities
     95,886       2,658,508       255       151,900       1,176,967       142  
Residential mortgage-backed
     22,355       385,243       91       38,872       614,345       142  
Commercial mortgage-backed
     16,038       319,483       36       22,234       132,909       21  
Other asset-backed securities
     21,352       165,403       26       30,188       164,027       28  
Total temporarily impaired
                                                
securities
   $ 193,137     $ 5,690,087       473     $ 820,686     $ 4,157,864       380  
 
      Total       Total  
   
Gross
                
Gross
              
   
Unrealized
          
# of
    
Unrealized
          
# of
  
   
Losses
    
Fair Value
    
securities
    
Losses
    
Fair Value
    
securities
  
U.S. government securities
   $ 23,372     $ 1,424,165       18     $ 522,827     $ 2,722,560       21  
Other government securities
     9,445       609,267       24       163,165       909,352       48  
Public utilities
     5,803       243,872       41       61,707       1,063,691       112  
Corporate securities
     191,463       5,380,673       522       550,449       9,375,030       835  
Residential mortgage-backed
     23,545       494,265       111       60,532       1,361,384       219  
Commercial mortgage-backed
     16,766       490,819       46       45,670       905,195       82  
Other asset-backed securities
     34,999       366,498       57       32,642       365,116       59  
Total temporarily impaired
                                                
securities
   $ 305,393     $ 9,009,559       819     $ 1,436,992     $ 16,702,328       1,376  
 
Other-Than-Temporary Impairments on Available For Sale Securities
The Company periodically reviews its available for sale fixed maturities on a case-by-case basis to determine if any decline in fair value to below cost or amortized cost is other-than-temporary. Factors considered in determining whether a decline is other-than-temporary include the length of time a security has been in an unrealized loss position, the severity of the unrealized loss and the reasons for the decline in value and expectations for the amount and timing of a recovery in fair value.
 
20
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Securities the Company determines are underperforming or potential problem securities are subject to regular review. To facilitate the review, securities with significant declines in value, or where other objective criteria evidencing credit deterioration have been met, are included on a watch list. Among the criteria for securities to be included on a watch list are: credit deterioration that has led to a significant decline in fair value of the security; a significant covenant related to the security has been breached; or an issuer has filed or indicated a possibility of filing for bankruptcy, has missed or announced it intends to miss a scheduled interest or principal payment, or has experienced a specific material adverse change that may impair its creditworthiness.

In performing these reviews, the Company considers the relevant facts and circumstances relating to each investment and exercises considerable judgment in determining whether a security is other-than-temporarily impaired. Assessment factors include judgments about an obligor’s current and projected financial position, an issuer’s current and projected ability to service and repay its debt obligations, the existence of, and realizable value of, any collateral backing the obligations and the macro-economic and micro-economic outlooks for specific industries and issuers. This assessment may also involve assumptions regarding underlying collateral such as prepayment rates, default and recovery rates, and third-party servicing capabilities.

Among the specific factors considered are whether the decline in fair value results from a change in the credit quality of the security itself, or from a downward movement in the market as a whole, and the likelihood of recovering the carrying value based on the near-term prospects of the issuer. Unrealized losses that are considered to be primarily the result of market conditions (e.g., minor increases in interest rates, temporary market illiquidity or volatility, or industry-related events) and where the Company also believes there exists a reasonable expectation for recovery in the near term are usually determined to be temporary. To the extent that factors contributing to impairment losses recognized affect other investments, such investments are also reviewed for other-than-temporary impairment and losses are recorded when appropriate.

In addition to the review procedures described above, investments in asset-backed securities where market prices are depressed are subject to a review of their future estimated cash flows, including expected and stress case scenarios, to identify potential shortfalls in contractual payments. These estimated cash flows are developed using available performance indicators from the underlying assets including current and projected default or delinquency rates, levels of credit enhancement, current subordination levels, vintage, expected loss severity and other relevant characteristics. These estimates reflect a combination of data derived by third parties and internally developed assumptions. Where possible, this data is benchmarked against third-party sources.

Even in the case of severely depressed market values on asset-backed securities, the Company places significant reliance on the results of its cash flow testing and its lack of an intent to sell these securities until their fair values recover when reaching other-than-temporary impairment conclusions with regard to these securities. Other-than-temporary impairment charges are recorded on asset-backed securities when the Company forecasts a contractual payment shortfall.

The Company recognizes other-than-temporary impairments on debt securities in an unrealized loss position when any of the following circumstances exists:
 
    ·  
The Company does not expect full recovery of the amortized cost based on the discounted cash flows estimated to be collected;
    ·  
The Company intends to sell a security; or,
    ·  
It is more likely than not that the Company will be required to sell a security prior to recovery.
 
For mortgage-backed securities, credit impairment is assessed using a cash flow model that estimates the cash flows on the underlying mortgages, using the security-specific collateral characteristics and transaction structure. The model estimates cash flows from the underlying mortgage loans and distributes those cash flows to various tranches of securities, considering the transaction structure and any subordination and credit enhancements existing in that structure. The cash flow model incorporates actual cash flows on the mortgage-backed securities through the current period and then projects the remaining cash flows using a number of assumptions, including prepayment speeds, default rates and loss severity.
 
21
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Specifically for prime and Alt-A RMBS, the assumed default percentage is dependent on the severity of delinquency status, with foreclosures and real estate owned receiving higher rates, but also includes the currently performing loans. As of December 31, 2014 and 2013, assumed default rates for delinquent loans ranged from 15% to 100%. At December 31, 2014 and 2013, assumed loss severities were applied to generate and analyze cash flows of each security and ranged from 25% to 70%.

These estimates reflect a combination of data derived by third parties and internally developed assumptions. Where possible, this data is benchmarked against other third-party sources. In addition, these estimates are extrapolated along a default timing curve to estimate the total lifetime pool default rate.

Other-than-temporary impairments are calculated as the difference between amortized cost and fair value. For other-than-temporarily impaired securities where Jackson does not intend to sell the security and it is not more likely than not that Jackson will be required to sell the security prior to recovery, total other-than-temporary impairments are reduced by the non-credit portion of the other-than-temporary impairments, which are recognized in other comprehensive income. The resultant net other-than-temporary impairments recorded in net income reflect only the credit loss on the other-than-temporarily impaired securities. The amortized cost of the other-than-temporarily impaired securities is reduced by the amount of this credit loss.

For securities that were deemed to be other-than-temporarily impaired and for which a non-credit loss was recorded in other comprehensive income, the amount recorded as an unrealized gain (loss) represents the difference between the fair value and the new amortized cost basis of the securities. The unrealized gain (loss) on other-than-temporarily impaired securities is recorded in other comprehensive income.

The following table summarizes net realized losses on investments (in thousands):
 
   
Years Ended December 31,
  
   
2014
    
2013
    
2012
  
Available-for-sale securities
                  
Realized gains on sale
   $ 166,300     $ 135,023     $ 173,337  
Realized losses on sale
     (57,383 )     (34,448 )     (65,495 )
Impairments:
                        
Total other-than-temporary impairments
     (56,161 )     (49,930 )     (172,730 )
Portion of other-than-temporary impairments
                        
included in other comprehensive income
     29,549       29,146       85,876  
Net other-than-temporary impairments
     (26,612 )     (20,784 )     (86,854 )
Other
     1,692       1,354       7,499  
Net realized gains on non-derivative investments
     83,997       81,145       28,487  
Net losses on derivative instruments
     (3,488,519 )     (2,071,598 )     (745,593 )
Total net realized losses on investments
   $ (3,404,522 )   $ (1,990,453 )   $ (717,106 )

The net losses on derivative instruments included in the above table are further detailed in Note 4.

The aggregate fair value of securities sold at a loss for the years ended December 31, 2014, 2013, and 2012 was $790.3 million, $640.4 million, and $649.0 million, respectively, which was approximately 93%, 95%, and 91% of book value, respectively.
 
22
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
The following summarizes the current year activity for credit losses recognized in net income on debt securities where an other-than-temporary impairment was identified and the non-credit portion of the other-than-temporary impairment was included in other comprehensive income (in thousands):
 
   
Years Ended December 31,
  
   
2014
    
2013
  
Cumulative credit loss beginning balance
   $ 318,204     $ 364,186  
Additions:
                
New credit losses
     8,802       5,310  
Incremental credit losses
     14,522       12,268  
Reductions:
                
Securities sold, paid down or disposed of
     (56,384 )     (60,996 )
Securities where there is intent to sell
     (8,272 )     (2,564 )
Cumulative credit loss ending balance
   $ 276,872     $ 318,204  
 
There are inherent uncertainties in assessing the fair values assigned to the Company’s investments and in determining whether a decline in fair value is other-than-temporary. The Company’s reviews of net present value and fair value involve several criteria including economic conditions, credit loss experience, other issuer-specific developments and estimated future cash flows. These assessments are based on the best available information at the time. Factors such as market liquidity, the widening of bid/ask spreads and a change in the cash flow assumptions can contribute to future price volatility. If actual experience differs negatively from the assumptions and other considerations used in the consolidated financial statements, unrealized losses currently reported in accumulated other comprehensive income may be recognized in the consolidated income statements in future periods.

The Company currently has no intent to sell securities with unrealized losses considered to be temporary until they mature or recover in value and believes that it has the ability to do so. However, if the specific facts and circumstances surrounding an individual security, or the outlook for its industry sector change, the Company may sell the security prior to its maturity or recovery and realize a loss.

Commercial Mortgage Loans
Commercial mortgage loans of $6.0 billion and $6.1 billion at December 31, 2014 and 2013, respectively, are reported net of an allowance for loan losses of $5.8 million and $11.5 million at each date, respectively. At December 31, 2014, commercial mortgage loans were collateralized by properties located in 44 states. Jackson’s commercial mortgage loan portfolio does not include single-family residential mortgage loans, and is therefore not exposed to the risk of defaults associated with residential subprime mortgage loans. Jackson periodically reviews these loans for impairment and, during 2014, 2013, and 2012, recognized impairment charges against the allowance for loan losses of $9.0 million, $1.0 million, and $8.4 million, respectively. In addition, Jackson recorded impairments as a realized loss of $2.7 million during 2014 and $3.2 million during 2013. In 2012, Jackson did not record any impairments as a realized loss.
 
23
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
The following table provides a summary of the allowance for losses in the Company’s commercial mortgage loan portfolio at December 31, 2014 and 2013 (in thousands):
 
   
Years Ended December 31,
  
Allowance for loan losses:
  
2014
    
2013
  
Balance at beginning of year
   $ 11,532     $ 20,395  
Charge-offs
     (9,043 )     (1,049 )
Recoveries
     524       —  
Net charge-offs
     (8,519 )     (1,049 )
Provision (reduction) for loan losses
     2,741       (7,814 )
Balance at end of year
   $ 5,754     $ 11,532  
 
The following table provides a summary of the allowance for losses in Jackson’s commercial mortgage loan portfolio (in thousands):

   
December 31, 2014
    
December 31, 2013
  
   
Allowance
for Loan
Losses		    
Recorded
Investment
    
Allowance
for Loan
Losses		    
Recorded
Investment
  
                         
Individually evaluated for impairment
   $ —     $ 20,701     $ 352     $ 79,371  
Collectively evaluated for impairment
     5,754       5,977,552       11,180       6,000,709  
Total
   $ 5,754     $ 5,998,253     $ 11,532     $ 6,080,080  

As of December 31, 2014 and 2013, the Company’s commercial mortgage loan portfolio is current and accruing interest. Delinquency status is determined from the date of the first missed contractual payment.
 
24
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Under Jackson’s policy for monitoring commercial mortgage loans, all impaired commercial mortgage loans are closely evaluated subsequent to impairment. The table below summarizes the recorded investment, unpaid principal balance, related loan allowance, average recorded investment and investment income recognized on impaired loans during 2014 and 2013 (in thousands):
 
   
Recorded
Investment
  
Unpaid
Principal
Balance
  
Related Loan
Allowance
  
Average
Recorded
Investment
  
Investment
Income
Recognized
  
December 31, 2014:
                      
Impaired Loans with a Valuation Allowance
                      
Office
  
$
—
   $ —  
$
—
  
$
663
  
$
34
  
Impaired Loans without a Valuation Allowance
                                
Apartment
    
821
    
821
    
—
    
839
    
66
  
Hotel
    
19,880
    
19,880
    
—
    
41,762
    
2,735
  
Office
    
—
    
—
    
—
    
13,850
    
3,507
  
Warehouse
    
—
    
—
    
—
    
2,678
    
344
  
Total
    
20,701
    
20,701
    
—
    
59,129
    
6,652
  
Total Impaired Loans
                                
Apartment
    
821
    
821
    
—
    
839
    
66
  
Hotel
    
19,880
    
19,880
    
—
    
41,762
    
2,735
  
Office
    
—
    
—
    
—
    
14,513
    
3,541
  
Warehouse
    
—
    
—
    
—
    
2,678
    
344
  
Total
  
$
20,701
  
$
20,701
  
$
—
  
$
59,792
  
$
6,686
 
   
Recorded
Investment
  
Unpaid
Principal
Balance
  
Related Loan
Allowance
  
Average
Recorded
Investment
  
Investment
Income
Recognized
  
December 31, 2013:
                      
Impaired Loans with a Valuation Allowance
                      
Office
  
$
7,950
   $ 9,173  
$
352
  
$
5,827
  
$
391
  
Impaired Loans without a Valuation Allowance
                                
Apartment
    
863
    
863
    
—
    
15,175
    
843
  
Hotel
    
49,721
    
52,978
    
—
    
61,608
    
3,266
  
Office
    
20,837
    
20,837
    
—
    
25,013
    
1,169
  
Warehouse
    
—
    
—
    
—
    
2,100
    
164
  
Total
    
71,421
    
74,678
    
—
    
103,896
    
5,442
  
Total Impaired Loans
                                
Apartment
    
863
    
863
    
—
    
15,175
    
843
  
Hotel
    
49,721
    
52,978
    
—
    
61,608
    
3,266
  
Office
    
28,787
    
30,010
    
352
    
30,840
    
1,560
  
Warehouse
    
—
    
—
    
—
    
2,100
    
164
  
Total
  
$
79,371
  
$
83,851
  
$
352
  
$
109,723
  
$
5,833
 
25
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
The following tables provide information about the credit quality of commercial mortgage loans (in thousands):

         December 31, 2014  
               
Greater than
     In the    
Total
  
   
In Good
           90 Days    
Process of
    
Carrying
  
   
Standing
    
Restructured
    
Delinquent
    
Foreclosure
    
Value
  
Apartment
   $ 1,917,788     $ —     $ —     $ —     $ 1,917,788  
Hotel
     529,418       19,880       —       —       549,298  
Office
     707,001       —       —       —       707,001  
Retail
     1,149,619       —       —       —       1,149,619  
Warehouse
     1,674,547       —       —       —       1,674,547  
Total
   $ 5,978,373     $ 19,880     $ —     $ —     $ 5,998,253  
 
      December 31, 2013  
                   
Greater than
      In the    
Total
  
   
In Good
               90 Days    
Process of
    
Carrying
  
   
Standing
    
Restructured
    
Delinquent
    
Foreclosure
    
Value
  
Apartment
   $ 1,891,670     $ —     $ —     $ —     $ 1,891,670  
Hotel
     494,660       49,721       —       —       544,381  
Office
     740,004       28,787       —       —       768,791  
Retail
     1,149,405       —       —       —       1,149,405  
Warehouse
     1,725,833       —       —       —       1,725,833  
Total
   $ 6,001,572     $ 78,508     $ —     $ —     $ 6,080,080

During 2014, there were no commercial mortgage loans involved in troubled debt restructuring.

The following table provides information about commercial mortgage loans involved in a troubled debt restructuring during 2013 (in thousands, except number of contracts):

         
Pre-Modification
    
Post-Modification
  
   
Number of
    
Outstanding
       Outstanding  
    Contracts       Recorded Investment    
Recorded Investment
  
Troubled Debt Restructuring
                  
Office
     1     $ 6,477     $ 7,950  
 
Securitizations
In 2001, Jackson executed the Morgan Stanley Dean Witter Capital I, Series 2001-PPM (“MSDW”) securitization transaction, contributing commercial mortgages to MSDW and retaining a beneficial interest. Effective January 1, 2010, as a result of adoption of accounting guidance on certain investment funds, the Company was deemed to be the primary beneficiary of MSDW and, therefore, consolidated MSDW. As such, Jackson’s consolidated financial statements include MSDW assets of $14.6 million and $25.4 million at December 31, 2014 and 2013, respectively.

In 2004, Jackson acquired a $47.5 million debt interest in a limited purpose entity, SERVES 2004-1 (“SERVES 3”), formed to pass through leveraged investment returns based on the performance of an underlying reference pool of syndicated bank loans totaling up to $300.0 million. As a result of the additional exposure to SERVES 3 upon entering into option put and forbearance agreements in 2008 and 2009, Jackson determined that it was the primary beneficiary and, accordingly, consolidated SERVES 3 in its financial statements. In August 2013, SERVES 3 was unwound.

Other Invested Assets
Other invested assets primarily include investments in limited partnerships and real estate. At December 31, 2014 and 2013, investments in limited partnerships had carrying values of $1,176.6 million and $1,310.4 million, respectively. At December 31, 2014 and 2013, real estate totaling $205.1 million and $160.4 million, respectively, included foreclosed properties with a book value of $0.7 million in both years.
 
26
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Securities Lending
The Company has entered into securities lending agreements with agent banks whereby blocks of securities are loaned to third parties, primarily major brokerage firms. As of December 31, 2014 and 2013, the estimated fair value of loaned securities was $189.2 million and $93.6 million, respectively. The agreements require a minimum of 102 percent of the fair value of the loaned securities to be held as collateral, calculated on a daily basis. To further minimize the credit risks related to these programs, the financial condition of counterparties is monitored on a regular basis. At December 31, 2014 and 2013, cash collateral received in the amount of $196.6 million and $95.8 million, respectively, was invested by the agent banks and included in cash and cash equivalents of the Company. A securities lending payable is included in liabilities for the amount of cash collateral received.

Securities lending transactions are used to generate income. Income and expenses associated with these transactions are reported as net investment income.
 
     Repurchase Agreements
The Company routinely enters into repurchase agreements whereby the Company agrees to sell and repurchase securities. These agreements are accounted for as financing transactions, with the assets and associated liabilities included in the consolidated balance sheets. During 2014 and 2013, short-term borrowings under such agreements averaged $97.6 million and $229.4 million, respectively, with weighted average interest rates of 0.12% and 0.08% during 2014 and 2013, respectively. At December 31, 2014 and 2013, the outstanding balance was $289.6 million and $415.3 million, respectively, which was included within other liabilities in the consolidated balance sheets. Interest expense totaled $0.1 million, $0.2 million, and $0.3 million in 2014, 2013, and 2012, respectively. The highest level of short-term borrowings at any month end was $289.6 million in 2014 and $691.5 million in 2013.

Investment Income
The sources of net investment income were as follows (in thousands):
 
    Years Ended December 31,  
   
2014
    
2013
    
2012
  
Fixed maturities
   $ 2,271,890     $ 2,240,592     $ 2,134,759  
Commercial mortgage loans
     296,056       307,361       294,581  
Limited partnerships
     153,378       267,892       136,649  
Derivative instruments
     252,121       206,461       160,305  
Policy loans
     395,857       391,089       172,212  
Other investment income
     4,926       56,838       30,442  
Total investment income
     3,374,228       3,470,233       2,928,948  
Less: income on funds held under reinsurance treaties
     (305,760 )     (263,196 )     (93,021 )
Less: investment expenses
     (65,887 )     (62,391 )     (55,365 )
Net investment income
   $ 3,002,581     $ 3,144,646     $ 2,780,562

Investment income of $3.6 million, $64.9 million, and $25.0 million was recognized on trading securities held at December 31, 2014, 2013 and 2012, respectively. In addition, investment income (loss) of $9.1 million, $(25.1) million and $0.8 million, respectively, was recognized on securities carried at fair value recorded through income.

During 2014, investment income was reduced by $305.8 million for expense incurred on the liability for funds held under reinsurance treaties, including $296.1 million on policy loans, $2.5 million of fixed maturity income and a $7.2 million gain on fixed maturities with fair value recorded through the income statement. During 2013, investment income was reduced by $263.2 million for expense incurred on the liability for funds held under reinsurance treaties, including $287.1 million on policy loans, $5.5 million of fixed maturity income and a $29.6 million loss on fixed maturities with fair value recorded through the income statement. The net investment income on derivative instruments included in the above table is further detailed in Note 4.
 
4.
Derivative Instruments
 
Jackson’s business model includes the acceptance, monitoring and mitigation of risk. Specifically, Jackson considers, among other factors, exposures to interest rate and equity market movements, foreign exchange rates and
 
27
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
other asset or liability prices. The Company uses derivative instruments to mitigate or reduce these risks in accordance with established policies and goals. Jackson’s derivative holdings, while effective in managing defined risks, are not structured to meet accounting requirements to be designated as hedging instruments. As a result, freestanding derivatives are carried at fair value with changes recorded in other investment losses.

Cross-currency swaps, which embody spot and forward currency swaps and, in some cases, interest rate and equity index swaps, are entered into for the purpose of hedging the Company issued foreign currency denominated trust instruments supported by funding agreements. Cross-currency swaps serve to hedge foreign currency exchange risk embedded in the funding agreements and are carried at fair value. The fair value of derivatives embedded in funding agreements, including unrealized foreign currency translation gains and losses, are included in the carrying value of the trust instruments supported by funding agreements. Foreign currency translation gains and losses associated with funding agreement hedging activities are included in other net investment losses.

Credit default swaps, with maturities up to five years, are agreements where the Company has purchased default protection on certain underlying corporate bonds held in its portfolio. These contracts allow the Company to sell the protected bonds at par value to the counterparty if a defined “default event” occurs, in exchange for periodic payments made by the Company for the life of the agreement. Credit default swaps are carried at fair value. The Company does not currently sell default protection using credit default swaps or other similar derivative instruments.

Put-swaption contracts provide the purchaser with the right, but not the obligation, to require the writer to pay the present value of a long-term interest rate swap at future exercise dates. The Company purchases and writes put-swaptions for hedging purposes with original maturities of up to 10 years. Put-swaptions hedge against movements in interest rates. Written put-swaptions may be entered into in conjunction with associated put-swaptions purchased from the same counterparties, referred to as linked put-swaptions. Linked put-swaptions have identical notional amounts and strike prices, but have different underlying swap terms. Linked put-swaptions are presented at the fair value of the net position for each pair of contracts. Non-linked put-swaptions are carried at fair value.

Equity index futures contracts and equity index options (including various call and put options, interest rate-contingent options, and put spreads), which are used to hedge the Company’s equity risk, including obligations associated with its fixed index annuities and guarantees in variable annuity products, are carried at fair value. These insurance products contain embedded options whose fair values are reported in other contract holder funds and reserves for future policy benefits and claims payable.

Total return swaps, for which the Company receives returns based on reference pools of assets in exchange for short-term floating rate payments based on notional amounts, are held for both hedging and investment purposes, and are carried at fair value.

Interest rate swap agreements used for hedging purposes generally involve the exchange of fixed and floating payments based on a notional contract amount over the period for which the agreement remains outstanding without an exchange of the underlying notional amount. Interest rate swaps are carried at fair value.
 
28
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
A summary of the aggregate contractual or notional amounts and fair values of the Company’s freestanding derivative instruments is as follows (in thousands):

      December 31, 2014
   
Assets
    
Liabilities
        
   
Contractual/
          
Contractual/
          
Net
  
   
Notional
    
Fair
    
Notional
    
Fair
    
Fair
  
   
Amount (1)
    
Value
    
Amount (1)
    
Value
    
Value
  
Cross-currency swaps
   $ 10,530     $ 2,241     $ —     $ —     $ 2,241  
Equity index call options
     6,500,000       14,324       —       —       14,324  
Equity index futures
     —       —       6,567,680       —       —  
Equity index put options
     72,750,000       342,284       —       —       342,284  
Interest rate swaps
     15,000,000       974,643       8,150,000       (391,475 )     583,168  
Put-swaptions
     5,750,000       94,592       250,000       (330 )     94,262  
Total
   $ 100,010,530     $ 1,428,084     $ 14,967,680     $ (391,805 )   $ 1,036,279  
 
    December 31, 2013
   
Assets
    
Liabilities
        
   
Contractual/
          
Contractual/
          
Net
  
   
Notional
    
Fair
    
Notional
    
Fair
    
Fair
  
   
Amount (1)
    
Value
    
Amount (1)
    
Value
    
Value
  
Credit default swaps
   $ —     $ —     $ 25,000     $ (363 )   $ (363 )
Cross-currency swaps
     358,896       79,846       —       —       79,846  
Equity index call options
     5,548,700       218,624       —       —       218,624  
Equity index futures
     —       —       6,075,630       —       —  
Equity index put options
     42,550,000       119,739       —       —       119,739  
Interest rate swaps
     12,000,000       794,520       13,200,000       (796,468 )     (1,948 )
Put-swaptions
     1,500,000       55,245       6,500,000       (56,122 )     (877 )
Total
   $ 61,957,596     $ 1,267,974     $ 25,800,630     $ (852,953 )   $ 415,021  
 
(1) The notional amount for swaps and put-swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions.

29
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
The following tables reflect the results of the Company’s derivatives, including gains (losses) and change in fair value of freestanding derivative instruments and embedded derivatives (in thousands):
 
   
Year Ended December 31, 2014
  
   
Other
    
Net
        
   
Investment
    
Investment
        
   
Gains (Losses)
    
Income
    
Net Gain (Loss)
  
Credit default swaps
   $ 363     $ (363 )   $ —  
Equity index call options
     (47,177 )     —       (47,177 )
Equity index futures
     (751,595 )     —       (751,595 )
Equity index put options
     (725,175 )     —       (725,175 )
Fixed index annuity embedded derivatives
     (267,544 )     —       (267,544 )
Interest rate swaps
     585,021       252,381       837,402  
Put-swaptions
     198,504       103       198,607  
Variable annuity embedded derivatives
     (2,480,916 )     —       (2,480,916 )
Total
   $ (3,488,519 )   $ 252,121     $ (3,236,398 )
 
   
Year Ended December 31, 2013
  
   
Other
    
Net
        
   
Investment
    
Investment
        
   
Gains (Losses)
    
Income
    
Net Gain (Loss)
  
Credit default swaps
   $ 6,791     $ (7,479 )   $ (688 )
Equity index call options
     187,474       —       187,474  
Equity index futures
     (1,746,460 )     —       (1,746,460 )
Equity index put options
     (800,394 )     —       (800,394 )
Fixed index annuity embedded derivatives
     (455,149 )     —       (455,149 )
Interest rate swaps
     (895,185 )     210,166       (685,019 )
Put-swaptions
     (248,510 )     48       (248,462 )
Total return swaps
     —       3,726       3,726  
Variable annuity embedded derivatives
     1,879,835       —       1,879,835  
Total
   $ (2,071,598 )   $ 206,461     $ (1,865,137 )
 
   
Year Ended December 31, 2012
  
   
Other
    
Net
        
   
Investment
    
Investment
        
   
Gains (Losses)
    
Income
    
Net Gain (Loss)
  
Credit default swaps
   $ 2,376     $ (10,046 )   $ (7,670 )
Equity index call options
     (48,567 )     —       (48,567 )
Equity index futures
     (855,912 )     —       (855,912 )
Equity index put options
     (783,303 )     —       (783,303 )
Fixed index annuity embedded derivatives
     (156,489 )     —       (156,489 )
Interest rate swaps
     167,075       171,600       338,675  
Put-swaptions
     106,914       (727 )     106,187  
Total return swaps
     —       (522 )     (522 )
Variable annuity embedded derivatives
     822,313       —       822,313  
Total
   $ (745,593 )   $ 160,305     $ (585,288 )
 
30
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
All of Jackson’s trade agreements for freestanding, over-the-counter derivatives contain credit downgrade provisions that allow a party to assign or terminate derivative transactions if the counterparty’s credit rating declines below an established limit. At December 31, 2014 and 2013, the fair value of Jackson’s net derivative assets by counterparty were $1,050.8 million and $692.8 million, respectively, and held collateral was $1,065.1 million and $787.7 million, respectively, related to these agreements. At December 31, 2014 and 2013, the fair value of Jackson’s net derivative liabilities by counterparty was $14.5 million and $277.7 million, respectively, and provided collateral was $18.5 million and $208.2 million, respectively, related to these agreements. If all of the downgrade provisions had been triggered at December 31, 2014 or 2013, in aggregate, Jackson would have had to disburse $10.3 million and $164.5 million, respectively, to counterparties, representing the net fair values of derivatives by counterparty, less collateral held.

Offsetting Assets and Liabilities
The Company’s derivative instruments, repurchase agreements and securities lending agreements are subject to master netting arrangements and collateral arrangements. A master netting arrangement with a counterparty creates a right of offset for amounts due to and due from that same counterparty that is enforceable in the event of a default or bankruptcy. The Company recognizes amounts subject to master netting arrangements on a gross basis within the consolidated balance sheets.

The following tables present the gross and net information about the Company’s financial instruments subject to master netting arrangements (in thousands):
 
    December 31, 2014  
         
Gross
                                
         
Amounts
    
Net Amounts
    
Gross Amounts Not Offset
        
   
Gross
    
Offset in the
    
Presented in
    
in the Consolidated Balance Sheets
        
   
Amounts
    
Consolidated
    
the Consolidated
    
Financial
     Cash    
Securities
    
Net
  
   
Recognized
    
Balance Sheets
    
Balance Sheets
    
Instruments(1)
    
Collateral
    
Collateral (2)
    
Amount
  
Financial Assets:
                                          
Derivative assets
   $ 1,428,084     $ —     $ 1,428,084     $ 377,316     $ 108,563     $ 894,033     $ 48,172  
                                                         
Financial Liabilities:
                                                        
Derivative liabilities
   $ 391,805     $ —     $ 391,805     $ 377,316     $ —     $ 8,848     $ 5,641  
Securities loaned
     196,633       —       196,633       —       196,633       —       —  
Repurchase agreements
     289,625       —       289,625       —       —       289,625       —  
Total financial liabilities
   $ 878,063     $ —     $ 878,063     $ 377,316     $ 196,633     $ 298,473     $ 5,641  
 
    December 31, 2014  
         
Gross
                                
         
Amounts
    
Net Amounts
    
Gross Amounts Not Offset
        
   
Gross
    
Offset in the
    
Presented in
    
in the Consolidated Balance Sheets
        
   
Amounts
    
Consolidated
    
the Consolidated
    
Financial
     Cash    
Securities
    
Net
  
      Recognized       Balance Sheets    
Balance Sheets
       Instruments(1)       Collateral    
Collateral (2)
    
Amount
  
Financial Assets:
                                          
Derivative assets
   $ 1,267,974     $ —     $ 1,267,974     $ 575,206     $ 6,540     $ 686,228     $ —  
                                                         
Financial Liabilities:
                                                        
Derivative liabilities
   $ 852,953     $ —     $ 852,953     $ 575,206     $ —     $ 208,221     $ 69,526  
Securities loaned
     95,754       —       95,754       —       95,754       —       —  
Repurchase agreements
     415,271       —       415,271       —       —       415,271       —  
Total financial liabilities
   $ 1,363,978     $ —     $ 1,363,978     $ 575,206     $ 95,754     $ 623,492     $ 69,526  
 
(1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the consolidated balance sheets.
(2) Excludes initial margin amounts for exchange-traded derivatives.

In the above tables, the amounts of assets or liabilities presented in the Company’s consolidated balance sheets are offset first by financial instruments that have the right of offset under master netting or similar arrangements with any remaining amount reduced by the amount of cash and securities collateral. The actual amount of collateral may be greater than amounts presented in the tables. The above tables exclude net embedded derivative liabilities of $3,090.3 million and $343.9 million for 2014 and 2013, respectively, as these derivatives are not subject to master
 
31
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
netting arrangements. In addition, repurchase agreements are presented within other liabilities in the consolidated balance sheets.
 
5.
 Fair Value Measurements
 
The following table summarizes the fair value and carrying value of Jackson’s financial instruments (in thousands). The basis for determining the fair value of each instrument is described in Note 2.

   
December 31, 2014
    
December 31, 2013
  
                         
   
Carrying Value
    
Fair Value
    
Carrying Value
    
Fair Value
  
Assets
                        
Fixed maturities(1)
   $ 50,978,577     $ 50,978,577     $ 49,729,105     $ 49,729,105  
Trading securities
     530,418       530,418       541,228       541,228  
Commercial mortgage loans
     5,998,253       6,289,683       6,080,080       6,302,268  
Policy loans (1)
     4,477,083       4,477,083       4,477,040       4,477,040  
Derivative instruments
     1,428,084       1,428,084       1,267,974       1,267,974  
Limited partnerships
     1,176,633       1,176,633       1,310,369       1,310,369  
Cash and cash equivalents
     1,399,091       1,399,091       986,383       986,383  
GMIB reinsurance recoverable
     338,694       338,694       136,147       136,147  
Embedded derivative assets
     —       —       939,224       939,224  
Separate account assets
     127,459,274       127,459,274       108,787,279       108,787,279
 
Liabilities
                        
Other contract holder funds and reserves for future policy
                        
benefits and claims payable
                        
Annuity reserves (2)
   $ 39,788,696     $ 43,818,946     $ 38,809,845     $ 40,927,655  
Reserves for guaranteed investment contracts
     1,878,038       1,890,937       1,840,191       1,840,641  
Trust instruments supported by funding agreements
     1,315,639       1,335,450       803,688       821,224  
Federal Home Loan Bank funding agreements
     1,873,843       1,839,594       1,773,829       1,773,014  
Funds held under reinsurance treaties
     3,431,854       3,431,854       3,396,987       3,396,987  
Debt
     328,737       394,309       284,489       346,601  
Securities lending payable
     196,633       196,633       95,754       95,754  
Derivative instruments
     391,805       391,805       852,953       852,953  
Repurchase agreements
     289,625       289,625       415,271       415,271  
Federal Home Loan Bank advances
     200,015       200,015       200,011       200,011  
Separate account liabilities
     127,459,274       127,459,274       108,787,279       108,787,279
 
(1) Includes items carried at fair value under the fair value option, for which there is a corresponding liability within funds held under reinsurance treaties.
(2) Annuity reserves represent only the components of other contract holder funds and reserves for future policy benefits and claims payable that are considered to be financial instruments.
 
The following is a discussion of the methodologies used to determine fair values of the financial instruments measured on both a recurring and nonrecurring basis reported in the following tables.

Fixed Maturity and Trading Securities
The fair values for fixed maturity and trading securities are determined using information available from independent pricing services, broker-dealer quotes, or internally derived estimates. Priority is given to publicly available prices from independent sources, when available. Securities for which the independent pricing service does not provide a quotation are either submitted to independent broker-dealers for prices or priced internally. Typical inputs used by these three pricing methods include, but are not limited to, reported trades, benchmark yields, credit spreads, liquidity premiums and/or estimated cash flows based on default and prepayment assumptions.

As a result of typical trading volumes and the lack of specific quoted market prices for most fixed maturities, independent pricing services will normally derive the security prices through recently reported trades for identical or similar securities, making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recently reported trades, the independent pricing services and broker-dealers may use matrix or pricing model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at relevant market rates. Certain securities are priced using broker-
 
32
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
dealer quotes, which may utilize proprietary inputs and models. Additionally, the majority of these quotes are non-binding.

Included in the pricing of asset-backed securities are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and prepayment assumptions believed to be relevant for the underlying collateral. Actual prepayment experience may vary from these estimates.

Internally derived estimates may be used to develop a fair value for securities for which the Company is unable to obtain either a reliable price from an independent pricing service or a suitable broker-dealer quote. These fair value estimates may incorporate Level 2 and Level 3 inputs and are generally derived using expected future cash flows, discounted at market interest rates available from market sources based on the credit quality and duration of the instrument. For securities that may not be reliably priced using these internally developed pricing models, a fair value may be estimated using indicative market prices. These prices are indicative of an exit price, but the assumptions used to establish the fair value may not be observable or corroborated by market observable information and, therefore, represent Level 3 inputs.

The Company performs a monthly analysis on the prices and credit spreads received from third parties to ensure that the prices represent a reasonable estimate of the fair value. This process involves quantitative and qualitative analysis and is overseen by investment and accounting professionals. Examples of procedures performed include, but are not limited to, initial and ongoing review of third party pricing service methodologies, review of pricing statistics and trends, back testing recent trades and monitoring of trading volumes. In addition, the Company considers whether prices received from independent broker-dealers represent a reasonable estimate of fair value through the use of internal and external cash flow models, which are developed based on spreads and, when available, market indices. As a result of this analysis, if the Company determines there is a more appropriate fair value based upon the available market data, the price received from the third party may be adjusted accordingly.

For those securities that were internally valued at December 31, 2014 and 2013, the pricing model used by the Company utilizes current spread levels of similarly rated securities to determine the market discount rate for the security. Furthermore, appropriate risk premiums for illiquidity and non-performance are incorporated in the discount rate. Cash flows, as estimated by the Company using issuer-specific default statistics and prepayment assumptions, are discounted to determine an estimated fair value. 

On an ongoing basis, the Company reviews the independent pricing services’ valuation methodologies and related inputs, and evaluates the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy distribution based upon trading activity and the observability of market inputs. Based on the results of this evaluation, each price is classified into Level 1, 2, or 3. Most prices provided by independent pricing services, including broker-dealer quotes, are classified into Level 2 due to their use of market observable inputs.

Commercial Mortgage Loans
Fair values are generally determined by discounting expected future cash flows at current market interest rates, inclusive of a credit spread, for similar quality loans. For loans whose value is dependent upon the underlying property, fair value is determined to be the estimated value of the collateral. Certain characteristics considered significant in determining the spread or collateral value may be based on internally developed estimates. As a result, these investments have been classified as Level 3 within the fair value hierarchy.

Policy Loans
Policy loans are funds provided to policyholders in return for a claim on the policies values and function like demand deposits which are redeemable upon repayment, death or surrender, and there is only one market price at which the transaction could be settled – the then current carrying value. The funds provided are limited to the cash surrender value of the underlying policy. The nature of policy loans is to have a negligible default risk as the loans are fully collateralized by the value of the policy. Policy loans do not have a stated maturity and the balances and accrued interest are repaid either by the policyholder or with proceeds from the policy. Due to the collateralized nature of policy loans and unpredictable timing of payments, the Company believes the carrying value of policy loans approximates fair value.
 
33
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
Freestanding Derivative Instruments
Freestanding derivative instruments are reported at fair value, which reflects the estimated amounts, net of payment accruals, which the Company would receive or pay upon sale or termination of the contracts at the reporting date. Changes in fair value are included in other investment losses. Freestanding derivatives priced using third party pricing services incorporate inputs that are predominantly observable in the market. Inputs used to value derivatives include, but are not limited to, interest rate swap curves, credit spreads, interest rates, counterparty credit risk, equity volatility and equity index levels.

Freestanding derivative instruments classified as Level 1 include futures, which are traded on active exchanges. Freestanding derivative instruments classified as Level 2 include interest rate swaps, cross currency swaps, credit default swaps, put-swaptions and equity index call and put options. These derivative valuations are determined by third-party pricing services using pricing models with inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data.

Limited Partnerships
Fair value for limited partnership interests, which are included in other invested assets, is determined using the proportion of Jackson’s investment in each fund (“NAV equivalent”) as a practical expedient for fair value. No adjustments to these amounts were deemed necessary at December 31, 2014 or 2013.

The Company’s limited partnership investments are not redeemable and distributions received are generally the result of liquidation of the underlying assets of the partnerships. The term of Jackson’s interest in the partnerships is generally ten years, but may be extended for a period of time under provisions within the partnership agreements, if applicable. The Company generally has the ability under the partnership agreements to sell its interest to another limited partner with the prior written consent of the general partner. It is not probable and there is no instance where Jackson contemplated selling a limited partnership interest for an amount different from its NAV equivalent.

Cash and Cash Equivalents
Cash and cash equivalents primarily include money market instruments and bank deposits. Certain money market instruments are valued using unadjusted quoted prices in active markets and are classified as Level 1.

Separate Account Assets and Liabilities
Separate account assets are comprised of investments in mutual funds, which are categorized as Level 1 assets. The value of separate account liabilities are set equal to the value of separate account assets.

Other Contract Holder Funds
Fair values for immediate annuities without mortality features are derived by discounting the future estimated cash flows using current market interest rates for similar maturities. Fair values for deferred annuities, including index linked annuities, are determined using projected future cash flows discounted at current market interest rates.

Fair values for guaranteed investment contracts are based on the present value of future cash flows discounted at current market interest rates.

Fair values for trust instruments supported by funding agreements are based on the present value of future cash flows discounted at current market interest rates, plus the fair value of any embedded derivatives that are not required to be reported separately.

Fair values of the FHLBI funding agreements are based on the present value of future cash flows discounted at current market interest rates.

Funds Held Under Reinsurance Treaties
The fair value of the funds held is equal to the fair value of the assets held as collateral, which primarily consist of policy loans and fixed maturities.

Debt
Fair values for the Company’s surplus notes and other long-term debt are generally determined by prices obtained from independent broker dealers or discounted cash flow models. Such prices are derived from market observable
 
34
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
inputs and are classified as Level 2. Values for mortgage loans issued by consolidated VIEs are based on the VIEs’ values, which may include unobservable inputs and are classified as Level 3 and are also included in debt.

Securities Lending Payable
The Company’s securities lending payable is set equal to the cash collateral received. Due to the short-term nature of the loans, carrying value is a reasonable estimate of fair value and is classified as Level 2.

Repurchase Agreements
Carrying value of the Company’s repurchase agreements, which are included in other liabilities, is considered a reasonable estimate of fair value due to their short-term maturities and are classified as Level 2.

Federal Home Loan Bank Advances
Carrying value of the Company’s Federal Home Loan Bank advances, which are included in other liabilities, is considered a reasonable estimate of fair value due to their short-term maturities and are classified as Level 2.

Certain Guaranteed Benefits
Variable annuity contracts issued by the Company offer various guaranteed minimum death, withdrawal, income and accumulation benefits. Certain benefits, primarily non-life contingent guaranteed minimum withdrawal benefits (“GMWB”), guaranteed minimum accumulation benefits (“GMAB”) and the reinsurance recoverable on the Company’s guaranteed minimum income benefits (“GMIB”), are recorded at fair value. Guaranteed benefits that are not subject to fair value accounting are accounted for as insurance benefits.

Non-life contingent GMWBs and GMABs are recorded at fair value with changes in fair value recorded in other investment losses. The fair value of the reserve is based on the expectations of future benefit payments and certain future fees associated with the benefits. At the inception of the contract, the Company attributes to the derivative a portion of total fees collected from the contract holder, which is then held static in future valuations. Those fees, generally referred to as the attributed fees, are set such that the present value of the attributed fees is equal to the present value of future claims expected to be paid under the guaranteed benefit at the inception of the contract. In subsequent valuations, both the present value of future benefits and the present value of attributed fees are revalued based on current market conditions and policyholder behavior assumptions. The difference between each of the two components represents the fair value of the embedded derivative. Jackson discontinued offering the GMAB in 2011.

Jackson’s GMIB book is reinsured through an unrelated party and, due to the net settlement provisions of the reinsurance agreement, this contract meets the definition of a derivative. Accordingly, the GMIB reinsurance agreement is recorded at fair value, with changes in fair value recorded in other investment losses. Due to the inability to economically reinsure or hedge new issues of the GMIB, the Company discontinued offering the benefit in 2009.

Fair values for GMWB and GMAB embedded derivatives, as well as GMIB reinsurance recoverables, are calculated using internally developed models because active, observable markets do not exist for those guaranteed benefits.

The fair value calculation is based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires numerous estimates and subjective judgments related to capital market inputs, as well as actuarially determined assumptions related to expectations concerning policyholder behavior. Capital market inputs include expected market rates of return, market volatility, correlations of market index returns to funds, fund performance and discount rates. The more significant actuarial assumptions include benefit utilization by policyholders under varying conditions, fund allocation, persistency, mortality, and withdrawal rates. Best estimate assumptions plus risk margins are used as applicable.
 
At each valuation date, the Company assumes expected returns based on LIBOR swap rates as of that date to determine the value of expected future cash flows produced in a stochastic process. Volatility assumptions are based on a weighting of available market data for implied market volatility for durations up to 10 years, grading to a historical volatility level by year 15, where such long-term historical volatility levels contain an explicit risk margin. Additionally, non-performance risk is incorporated into the calculation through the use of discount rates based on a AA corporate credit curve as an approximation of Jackson’s own credit risk. Other risk margins, particularly for
 
35
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013
 
policyholder behavior, are also incorporated into the model through the use of best estimate assumptions, plus a risk margin. Estimates of future policyholder behavior are subjective and are based primarily on the Company’s experience.

As markets change, mature and evolve and actual policyholder behavior emerges, management continually evaluates the appropriateness of its assumptions for this component of the fair value model.

The use of the models and assumptions described above requires a significant amount of judgment. Management believes the aggregation of each of these components results in an amount that the Company would be required to transfer for a liability, or receive for an asset, to or from a willing buyer or seller, if one existed, for those market participants to assume the risks associated with the guaranteed benefits and the related reinsurance. However, the ultimate settlement amount of the asset or liability, which is currently unknown, could likely be significantly different than this fair value.

Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables summarize the Company’s assets and liabilities that are carried at fair value by hierarchy levels (in thousands):
 
    December 31, 2014  
   
Total
    
Level 1
    
Level 2
    
Level 3
  
Assets
                        
Fixed maturities
                        
U.S. government securities
   $ 5,134,720     $ 5,134,720     $ —     $ —  
Other government securities
     1,057,114       —       1,057,114       —  
Public Utilities
     4,636,611       —       4,636,611       —  
Corporate securities
     33,169,215       —       33,168,934       281  
Residential mortgage-backed
     2,432,286       —       2,432,275       11  
Commercial mortgage-backed
     3,606,939       —       3,597,553       9,386  
Other asset-backed securities
     941,692       —       930,202       11,490  
Trading securities
     530,418       493,692       —       36,726  
Policy loans
     3,156,550       —       —       3,156,550  
Derivative instruments
     1,428,084       —       1,428,084       —  
Limited partnerships
     1,176,633       —       —       1,176,633  
GMIB reinsurance recoverable
     338,694       —       —       338,694  
Separate account assets
     127,459,274       127,459,274       —       —  
Total
   $ 185,068,230     $ 133,087,686     $ 47,250,773     $ 4,729,771
 
Liabilities
                        
Embedded derivative liabilities (1)
   $ 3,090,287     $ —     $ 1,346,047     $ 1,744,240  
Funds held under reinsurance treaties
     3,431,854       —       —       3,431,854  
Derivative instruments
     391,805       —       391,805       —  
Separate account liabilities (2)
     127,459,274       127,459,274       —       —  
Total
   $ 134,373,220     $ 127,459,274     $ 1,737,852     $ 5,176,094
 
(1) Includes the embedded derivative liabilities related to GMWB reserves and fixed index annuities.
(2) The value of the separate account liabilities is set equal to the value of the separate account assets.
 
36
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
    December 31, 2014   
   
Total
    
Level 1
    
Level 2
    
Level 3
  
Assets
                        
Fixed maturities
                        
U.S. government securities
   $ 4,516,833     $ 4,516,833     $ —     $ —  
Other government securities
     997,986       —       997,986       —  
Public Utilities
     4,451,985       —       4,451,985       —  
Corporate securities
     32,058,285       —       32,039,272       19,013  
Residential mortgage-backed
     2,902,825       —       2,902,811       14  
Commercial mortgage-backed
    3,826,887       —       3,826,429       458  
Other asset-backed securities
     974,304       —       964,755       9,549  
Trading securities
     541,228       470,752       —       70,476  
Policy loans
     3,131,161       —       —       3,131,161  
Derivative instruments
     1,267,974       —       1,267,974       —  
Limited partnerships
     1,310,369       —       —       1,310,369  
GMIB reinsurance recoverable
     136,147       —       —       136,147  
Embedded derivative assets (1)
     939,224       —       —       939,224  
Separate account assets
     108,787,279       108,787,279       —       —  
Total
   $ 165,842,487     $ 113,774,864     $ 46,451,212     $ 5,616,411
 
Liabilities
                        
Embedded derivative liabilities (2)
   $ 1,283,153     $ —     $ 1,283,153     $ —  
Funds held under reinsurance treaties
     3,396,987       —       —       3,396,987  
Derivative instruments
     852,953       —       852,953       —  
Separate account liabilities (3)
     108,787,279       108,787,279       —       —  
Total
   $ 114,320,372     $ 108,787,279     $ 2,136,106     $ 3,396,987
 
(1) Includes the embedded derivatives related to GMWB reserves.
(2) Includes the embedded derivative liabilities related to fixed index annuities.
(3) The value of the separate account liabilities is set equal to the value of the separate account assets.
 
37
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)

Level 3 Assets and Liabilities by Price Source
The table below presents the balances of Level 3 assets and liabilities measured at fair value with their corresponding pricing sources (in thousands).
 
    December 31, 2014  
Assets
  
Total
    
Internal
    
External
  
Fixed Maturities
                  
Corporate securities
   $ 281     $ 281     $ —  
Residential mortgage-backed
     11       11       —  
Commercial mortgage-backed
     9,386       9,386       —  
Other asset-backed securities
     11,490       11,490       —  
Trading securities
     36,726       249       36,477  
Policy loans
     3,156,550       3,156,550       —  
Limited partnerships
     1,176,633       —       1,176,633  
GMIB reinsurance recoverable
     338,694       338,694       —  
Total
   $ 4,729,771     $ 3,516,661     $ 1,213,110
 
Liabilities
                  
Embedded derivative liabilities (1)
   $ 1,744,240     $ 1,744,240     $ —  
Funds held under reinsurance treaties
     3,431,854       3,431,854       —  
Total
   $ 5,176,094     $ 5,176,094     $ —  

    December 31, 2013  
Assets
  
Total
    
Internal
    
External
  
Fixed Maturities
                  
Corporate securities
   $ 19,013     $ 19,013     $ —  
Residential mortgage-backed
     14       14       —  
Commercial mortgage-backed
     458       458       —  
Other asset-backed securities
     9,549       9,549       —  
Trading securities
     70,476       249       70,227  
Policy loans
     3,131,161       3,131,161       —  
Limited partnerships
     1,310,369       —       1,310,369  
GMIB reinsurance recoverable
     136,147       136,147       —  
Embedded derivative assets (1)
     939,224       939,224       —  
Total
   $ 5,616,411     $ 4,235,815     $ 1,380,596  
 
Liabilities
                  
Funds held under reinsurance treaties
   $ 3,396,987     $ 3,396,987     $ —  
 
(1) Includes the embedded derivatives related to GMWB reserves.
 
External pricing sources for securities represent unadjusted prices from independent pricing services and independent indicative broker quotes where pricing inputs are not readily available. Limited partnership interests are valued using externally prepared financial statements provided by partnership management.
 
38
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
Quantitative Information Regarding Internally-Priced Level 3 Assets and Liabilities
The table below presents quantitative information on significant internally-priced Level 3 assets and liabilities (in thousands):
 
      As of December 31, 2014  
                           
Impact of Increase
  
                      Range in bps    
in Input on Fair
  
   
Fair Value
    
Valuation Technique(s)
    
Unobservable Input(s)
     (Weighted Average)    
Value
  
Assets
                              
Fixed maturities
                              
Commercial mortgage-backed
   $ 9,386    
Discounted cash flow
    
Discount rate
     0-275 (138)    
Decrease
  
Other asset-backed securities
     11,490    
Discounted cash flow
    
Discount rate
     262-486 (414)    
Decrease
  
Policy loans
     3,156,550    
Outstanding balance
     N/A     N/A     N/A  
GMIB reinsurance recoverable
     338,694    
Discounted cash flow
    
See below
    
See below
    
See below
  
Total
   $ 3,516,120                          
                                 
Liabilities
                                
Embedded derivative liabilities
   $ 1,744,240    
Discounted cash flow
    
See below
    
See below
    
See below
  
Funds held under reinsurance treaties
     3,431,854    
Carrying value of asset
     N/A     N/A     N/A  
Total
   $ 5,176,094                          
 
      As of December 31, 2013  
                           
Impact of Increase
  
                      Range in bps    
in Input on Fair
  
   
Fair Value
    
Valuation Technique(s)
    
Unobservable Input(s)
    
(Weighted Average)
    
Value
  
Assets
                              
Fixed maturities
                              
Corporate securities
   $ 19,013    
Discounted cash flow
    
Discount rate
     1054-1129 (1092)    
Decrease
  
Other asset-backed securities
     9,549    
Discounted cash flow
    
Discount rate
     239-529 (447)    
Decrease
  
Policy loans
     3,131,161    
Outstanding balance
     N/A     N/A     N/A  
GMIB reinsurance recoverable
     136,147    
Discounted cash flow
    
See below
    
See below
    
See below
  
Embedded derivative assets
     939,224    
Discounted cash flow
    
See below
    
See below
    
See below
  
Total
   $ 4,235,094                        

Liabilities
                              
Funds held under reinsurance treaties
   $ 3,396,987    
Carrying value of asset
     N/A     N/A     N/A  

Sensitivity to Changes in Unobservable Inputs
The following is a general description of sensitivities of significant unobservable inputs and their impact on the fair value measurement for the assets and liabilities reflected in the table above.

Internally-priced corporate securities classified in Level 3 include private debt securities for which no price comparatives or spread levels can be observed. For these securities, a discounted cash flow model was used and the primary unobservable input is an internally-developed discount rate. Significant increases (decreases) in the discount rate would result in a significantly lower (higher) fair value measurement.

Commercial mortgage-backed securities and other asset-backed securities classified in Level 3 are fair valued using a discounted cash flow model. Unobservable inputs include an internally developed discount rate. Significant increases (decreases) in the discount rate would result in a significantly lower (higher) fair value measurement.

As of December 31, 2014, corporate securities of $281 thousand, residential mortgage-backed securities of $11 thousand, and trading securities of $249 thousand are fair valued using techniques incorporating unobservable inputs and are classified in Level 3 of the fair value hierarchy. As of December 31, 2013, residential mortgage-backed securities of $14 thousand, commercial mortgage-backed securities of $458 thousand, and trading securities of $249 thousand are fair valued using techniques incorporating unobservable inputs and are classified in Level 3 of the fair value hierarchy. For these assets, their unobservable inputs and ranges of possible inputs do not materially affect their fair valuations and have been excluded from the quantitative information in the table above.
 
39
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The GMIB reinsurance recoverable fair value calculation is based on the present value of future cash flows comprised of future expected reinsurance benefit receipts, less future attributed premium payments to reinsurers, over the lives of the contracts. Estimating these cash flows requires actuarially determined assumptions related to expectations concerning policyholder behavior and long-term market volatility. The more significant policyholder behavior actuarial assumptions include benefit utilization, fund allocation, persistency, and mortality. In general, an increase (decrease) in assumed benefit utilization would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in allocation to equity funds would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in assumed persistency would increase (decrease) the fair value of the reinsurance recoverable; an increase (decrease) in assumed mortality would decrease (increase) the fair value of the reinsurance recoverable; and an increase (decrease) in long-term market volatility would increase (decrease) the fair value of the reinsurance recoverable.
 
Embedded derivative liabilities classified in Level 3 represent the fair value of GMWB and GMAB liabilities. These fair value calculations are based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires actuarially determined assumptions related to expectations concerning policyholder behavior and long-term market volatility. The more significant actuarial assumptions include benefit utilization, fund allocation, persistency, and mortality. In general, an increase (decrease) in assumed benefit utilization would increase (decrease) the fair value of the liabilities; an increase (decrease) in allocation to equity funds would increase (decrease) the fair value of the liabilities; an increase (decrease) in assumed persistency would increase (decrease) the fair value of the liabilities; an increase (decrease) in assumed mortality would decrease (increase) the fair value of the liabilities; and an increase (decrease) in long-term market volatility would increase (decrease) the fair value of the liabilities.
 
40
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The tables below provide rollforwards for 2014 and 2013 of the financial instruments for which significant unobservable inputs (Level 3) are used in the fair value measurement. Gains and losses in the table below include changes in fair value due partly to observable and unobservable factors. The Company utilizes derivative instruments to manage the risk associated with certain assets and liabilities. However, the derivative instruments hedging the related risks may not be classified within the same fair value hierarchy level as the associated assets and liabilities. Therefore, the impact of the derivative instruments reported in Level 3 may vary significantly from the total income effect of the hedged instruments. Additionally, the Company’s policy for determining and disclosing transfers between levels is to recognize transfers using beginning of period balances.
 
      Total Realized/Unrealized Gains          
      (Losses) Included in                  
                     
Purchases,
              
   
Fair Value
                
Sales,
    
Transfers
    
Fair Value
  
   
as of
          
Other
    
Issuances
    
in and/or
    
as of
  
   
January 1,
    
Net
    
Comprehensive
    
and
    
(out of)
    
December 31,
  
(in thousands)
  
2014
    
Income
    
Income
    
Settlements
    
Level 3
    
2014
  
Assets
                                    
Fixed maturities
                                    
Corporate securities
   $ 19,013     $ 822     $ 1,642     $ (21,196 )   $ —     $ 281  
Residential mortgage-backed
     14       17       —       (20 )     —       11  
Commercial mortgage-backed
     458       (2,175 )     1,882       (526 )     9,747       9,386  
Other asset-backed securities
     9,549       272       100       4,055       (2,486 )     11,490  
Trading securities
     70,476       (4,151 )     —       (29,599 )     —       36,726  
Policy loans
     3,131,161       2,251       —       23,138       —       3,156,550  
Limited partnerships
     1,310,369       (125,719 )     —       (8,017 )     —       1,176,633  
GMIB reinsurance recoverable
     136,147       202,547       —       —       —       338,694  
 
Liabilities
                                    
Embedded derivative liabilities
   $ 939,224     $ (2,683,464 )   $ —     $ —     $ —     $ (1,744,240 )
Funds held under reinsurance treaties
     (3,396,987 )     (15,879 )     —       (18,988 )     —       (3,431,854 )
 
         Total Realized/Unrealized Gains                  
          (Losses) Included in                  
                      Purchases,                
   
Fair Value
                
Sales,
    
Transfers
    
Fair Value
  
 
   
as of
          
Other
    
Issuances
    
in and/or
    
as of
  
 
   
January 1,
    
Net
 
   Comprehensive    
and
    
(out of)
    
December 31,
  
 
(in thousands)
  
2013
     Income    
Income
    
Settlements
    
Level 3
    
2013
  
 
Assets
                                
Fixed maturities
                                
Corporate securities
   $ 42,739     $ 793     $ (1,754 )   $ (11,406 )   $ (11,359 )   $ 19,013  
Residential mortgage-backed
     31       (2 )     —       (15 )     —       14  
Commercial mortgage-backed
     —       1,068       (1,068 )     —       458       458  
Other asset-backed securities
     6,623       2,879       651       (8,776 )     8,172       9,549  
Trading securities
     69,823       2,237       —       (1,584 )     —       70,476  
Policy loans
     2,994,756       6,787       —       129,618       —       3,131,161  
Limited partnerships
     1,219,515       252,955       —       (162,101 )     —       1,310,369  
GMIB reinsurance recoverable
     416,528       (280,381 )     —       —       —       136,147  
                                                   
Liabilities
                                                  
Embedded derivative liabilities
   $ (1,220,993 )   $ 2,160,217     $ —     $ —     $ —     $ 939,224  
Derivative instruments
     (3,765 )     3,765       —       —       —       —  
Funds held under reinsurance treaties
     (3,285,118 )     4,924       —       (116,793 )     —       (3,396,987 )
 
41
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The components of the amounts included in purchases, sales, issuances and settlements for years ended December 31, 2014 and 2013 shown above are as follows (in thousands):
 
      December 31, 2014  
   
Purchases
    
Sales
    
Issuances
    
Settlements
    
Total
  
Assets
                              
Fixed maturities
                              
Corporate securities
   $ 42     $ (21,238 )   $ —     $ —     $ (21,196 )
Residential mortgage-backed
     —       (20 )     —       —       (20 )
Commercial mortgage-backed
     —       (526 )     —       —       (526 )
Other asset-backed securities
     5,000       (945 )     —       —       4,055  
Trading securities
     1,009       (30,608 )     —       —       (29,599 )
Policy loans
     —       —       312,213       (289,075 )     23,138  
Limited partnerships
     166,539       (174,556 )     —       —       (8,017 )
        Total   $ 172,590     $ (227,893 )   $ 312,213     $ (289,075 )   $ (32,165 )
 
Liabilities                                        
Funds held under reinsurance treaties
   $ —     $ —     $ (478,489 )   $ 459,501     $ (18,988 )
 
   
December 31, 2013
  
   
Purchases
    
Sales
    
Issuances
    
Settlements
    
Total
  
Assets
                              
Fixed maturities
                              
Corporate securities
   $ 239     $ (11,645 )   $ —     $ —     $ (11,406 )
Residential mortgage-backed
     —       (15 )     —       —       (15 )
Other asset-backed securities
     —       (8,776 )     —       —       (8,776 )
Trading securities
     625       (2,209 )     —       —       (1,584 )
Policy loans
     —       —       226,647       (97,029 )     129,618  
Limited partnerships
     132,713       (294,814 )     —       —       (162,101 )
Total
   $ 133,577     $ (317,459 )   $ 226,647     $ (97,029 )   $ (54,264 )
 
Liabilities
                              
Funds held under reinsurance treaties
   $ —     $ —     $ (341,662 )   $ 224,869     $ (116,793 )
 
As a result of the Company being able to obtain pricing from an independent pricing service utilizing significant observable inputs, securities with a fair value of $2.5 million and $34.4 million were transferred from Level 3 to Level 2 during 2014 and 2013, respectively. During 2014 and 2013, the Company transferred securities with a fair value of $9.7 million and $31.7 million, respectively, from Level 2 to Level 3 as a result of the use of significant unobservable inputs as the Company was not able to obtain pricing from an independent, third-party price service. There were no transfers between Level 1 and 2 of the fair value hierarchy in 2014 or 2013.
 
42
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The portion of gains (losses) included in net income or other comprehensive income attributable to the change in unrealized gains and losses on Level 3 financial instruments still held at December 31, 2014 and 2013 was as follows (in thousands):
 
   
2014
    
2013
  
Assets
            
Fixed maturities
            
Corporate securities
   $ —     $ (1,013 )
Residential mortgage-backed
     17       12  
Commercial mortgage-backed
     (292 )     —  
Other asset-backed securities
     100       3,394  
Trading securities
     (4,136 )     2,237  
Limited partnerships
     (125,309 )     253,187  
GMIB reinsurance recoverable
     202,547       (280,381 )
 
Liabilities
            
Embedded derivative liabilities
   $ (2,683,464 )   $ 2,160,217  
Funds held under reinsurance treaties
     (13,959 )     10,915  
 
Nonrecurring Fair Value Measurements
The table below presents the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value (in thousands).
 
        December 31, 2014      December 31, 2013  
 
Fair Value
        
 
Hierarchy
 
Level
  
Carrying Value
    
Fair Value
    
Carrying Value
    
Fair Value
  
Assets
                          
Commercial mortgage loans
Level 3
   $ 5,998,253     $ 6,289,683     $ 6,080,080     $ 6,302,268  
Policy loans
Level 3
     1,320,533       1,320,533       1,345,879       1,345,879
 
Liabilities
                          
Other contract holder funds
                          
Annuity reserves (1)
Level 3
   $ 36,698,409     $ 40,728,659     $ 37,526,692     $ 39,644,502  
Reserves for guaranteed investment contracts
Level 3
     1,878,038       1,890,937       1,840,191       1,840,641  
Trust instruments supported by funding agreements
Level 3
     1,315,639       1,335,450       803,688       821,224  
Federal Home Loan Bank funding agreements
Level 3
     1,873,843       1,839,594       1,773,829       1,773,014  
Debt - mortgage loans (2)
Level 3
     29,309       29,309       30,088       30,088  
Debt - all other
Level 2
     299,428       365,000       254,401       316,513  
Securities lending payable
Level 2
     196,633       196,633       95,754       95,754  
Repurchase agreements
Level 2
     289,625       289,625       415,271       415,271  
Federal Home Loan Bank advances
Level 2
     200,015       200,015       200,011       200,011
 
(1) Annuity reserves represent only the components of other contract holder funds that are considered to be financial instruments.
(2) Represents mortgage loans associated with certain consolidated VIEs.

Fair Value Option
As described in Note 2, in connection with the acquisition of REALIC, the Company elected the fair value option for certain assets, which are held as collateral for reinsurance. Accordingly, the Company established a funds held liability, for which the Company also elected the fair value option. The value of the funds held liability is equal to the fair value of the assets held as collateral. The income and any changes in unrealized gains and losses on these assets and the corresponding funds held liability are included in net investment income and have no impact on the Company’s consolidated income statements. Income and changes in unrealized gains and losses on other assets for which the Company has elected the fair value option are immaterial to the Company’s consolidated financial statements.
 
43
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
6.
 Deferred Acquisition Costs and Deferred Sales Inducements
 
The balances of and changes in deferred acquisition costs, as of and for the years ended December 31, were as follows (in thousands):
   
2014
    
2013
    
2012
  
Balance, beginning of year
   $ 6,212,220     $ 4,822,587     $ 4,395,174  
Deferrals of acquisition costs
     1,093,265       1,077,016       1,105,124  
Amortization related to:
                        
Operations
     (708,735 )     (544,047 )     (443,296 )
Derivatives
     1,012,613       217,606       147,992  
Net realized gains
     (19,141 )     (14,905 )     (3,594 )
Total amortization
     284,737       (341,346 )     (298,898 )
Unrealized investment (gains) losses
     (134,886 )     653,963       (378,813 )
Balance, end of year
   $ 7,455,336     $ 6,212,220     $ 4,822,587
 
The balances of and changes in deferred sales inducements, which are reported in other assets, as of and for the years ended December 31, were as follows (in thousands):
 
     
2014
      
2013
      
2012
  
 Balance, beginning of year
   $ 784,285     $ 560,141     $ 602,486  
Deferrals of sales inducements
     30,238       55,735       171,393  
Amortization related to:
                        
Operations
     (122,943 )     (135,270 )     (131,317 )
Derivatives
     105,082       194,553       (12,796 )
Net realized gains
     (3,312 )     (2,555 )     (665 )
Total amortization
     (21,173 )     56,728       (144,778 )
Unrealized investment (gains) losses
     (25,078 )     111,681       (68,960 )
Balance, end of year
   $ 768,272     $ 784,285     $ 560,141  
 
44
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
7.
Reinsurance

The Company assumes and cedes reinsurance from and to other insurance companies in order to limit losses from large exposures; however, if the reinsurer is unable to meet its obligations, the originating issuer of the coverage retains the liability. The Company reinsures certain of its risks to other reinsurers under a yearly renewable term, coinsurance, or modified coinsurance basis. The Company regularly monitors the financial strength rating of reinsurers.

The Company has also acquired certain lines of business that are wholly ceded to non-affiliates. These include both direct and assumed accident and health business, direct and assumed life insurance business, and certain institutional annuities.

Jackson’s GMIBs are reinsured with an unrelated party and, due to the net settlement provisions of the reinsurance agreement, meet the definition of a derivative. Accordingly, the GMIB reinsurance agreement is recorded at fair value on the Company’s consolidated balance sheets, with changes in fair value recorded in other net investment losses.

As a pre-closing condition to the acquisition, and after receipt of all required regulatory approvals, REALIC entered into three retro treaties with SRZ. Pursuant to these retro treaties, REALIC ceded to SRZ on a 100% coinsurance basis, subject to pre-existing reinsurance with other parties, certain blocks of business written or assumed by REALIC. These blocks of business include the disability income and accident and health business written or assumed by REALIC, a mix of life and annuity insurance business written or assumed by REALIC, and the corporate owned life insurance business assumed by REALIC. The effective date of the three retrocession agreements was July 1, 2012.

Pursuant to the retro treaties, the Company holds certain assets, primarily policy loans and fixed maturities, as collateral. This collateral is reported as a liability as funds held under reinsurance treaties on the consolidated balance sheets. At both December 31, 2014 and 2013, this funds held liability was $3.4 billion.

The effect of reinsurance on premium was as follows (in thousands):

   
Years Ended December 31,
  
   
2014
    
2013
    
2012
  
Direct premium:
                  
Life
   $ 642,010     $ 668,878     $ 411,112  
Accident and health
     65,024       70,214       28,989  
Plus reinsurance assumed:
                        
Life
     67,558       66,242       28,233  
Accident and health
     11,893       13,602       4,765  
Less reinsurance ceded:
                        
Life
     (427,173 )     (429,499 )     (243,470 )
Annuity guaranteed benefits
     (18,054 )     (18,850 )     (19,605 )
Accident and health
     (76,917 )     (83,816 )     (33,754 )
Total premium
   $ 264,341     $ 286,771     $ 176,270  
 
45
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The effect of reinsurance on benefits was as follows (in thousands):

   
Years Ended December 31,
  
   
2014
    
2013
    
2012
  
Direct benefits:
                  
Life
   $ 1,407,976     $ 1,331,828     $ 939,727  
Accident and health
     108,323       142,827       55,005  
Annuity guaranteed benefits
     60,121       69,403       86,651  
Plus reinsurance assumed:
                        
Life
     244,807       384,181       118,284  
    Accident and health
     32,694       32,723       11,941  
Less reinsurance ceded:
                        
Life
     (599,852 )     (577,884 )     (292,834 )
Accident and health
     (141,017 )     (175,550 )     (66,946 )
Deferral of contract enhancements
     (16,258 )     (41,396 )     (157,931 )
Change in reserves, net of reinsurance
     86,886       (139,740 )     (79,683 )
Total benefits
   $ 1,183,680     $ 1,026,392     $ 614,214  

Components of the Company’s reinsurance recoverable as of December 31 were as follows (in thousands):

   
December 31,
  
   
2014
    
2013
  
Reserves:
            
Life
   $ 7,134,878     $ 7,197,629  
Accident and health
     623,795       658,165  
Guaranteed minimum income benefits
     338,694       136,147  
Other annuity benefits
     240,385       252,601  
Claims liability
     977,022       1,032,977  
Other
     8,385       7,585  
Total
   $ 9,323,159     $ 9,285,104  

Included in the reinsurance recoverable were reserves ceded to Brooke Life of $39.3 million and $42.1 million at December 31, 2014 and 2013, respectively. The largest amount ceded to any reinsurer at December 31, 2014 totaled $6.3 billion, which was primarily related to the retro treaties, which are fully collateralized.

The following table sets forth the Company’s net life insurance in-force (in millions):

   
December 31,
  
   
2014
    
2013
  
Direct life insurance in-force
   $ 249,709     $ 266,587  
Amounts assumed from other companies
     23,592       24,733  
Amounts ceded to other companies
     (150,422 )     (160,270 )
Net life insurance in-force
   $ 122,879     $ 131,050  

Prior to the Company’s acquisition of REALIC, reserve requirements for certain term policies with a ceding insurer were in dispute between the ceding insurer and Swiss Re. Under the terms of the purchase agreement, Jackson was obligated to continue the negotiations. In October 2013, all parties agreed on a resolution, which resulted in the ceding insurer recapturing a portion of the business that was ceded to the Company, resulting in additional income of $10.9 million. There were no similar transactions in 2014.
 
46
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 

8.
Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds

The following table sets forth the Company’s reserves for future policy benefits and claims payable balances as of December 31 (in thousands):

   
2014
    
2013
  
Traditional life
   $ 6,610,023     $ 6,877,626  
Guaranteed benefits
     3,526,259       1,496,350  
Claims payable
     867,401       907,389  
Accident and health
     1,436,681       1,505,714  
Other
     1,134,105       1,187,884  
Total
   $ 13,574,469     $ 11,974,963  

For traditional life insurance contracts, which include term and whole life, reserves are determined using the net level premium method and assumptions as of the issue date or acquisition date as to mortality, interest rates, persistency and expenses, plus provisions for adverse deviation.

The Company’s liability for future policy benefits also includes liabilities for guaranteed benefits related to certain nontraditional long-duration life and annuity contracts, which are further discussed in Note 9.

The following table sets forth the Company’s liabilities for other contract holder funds balances as of December 31 (in thousands):

   
2014
    
2013
  
Interest-sensitive life
   $ 13,369,749     $ 13,523,818  
Variable annuity fixed option
     6,808,521       6,950,944  
Fixed annuity
     19,843,325       20,260,118  
Fixed index annuity
     12,596,205       12,731,932  
GICs, funding agreements and FHLB advances
     5,067,519       4,417,707  
Total
   $ 57,685,319     $ 57,884,519  

For interest-sensitive life contracts, liabilities approximate the policyholder’s account value, plus the remaining balance of the fair value adjustment related to the REALIC acquired business, which is further discussed below. The liability for fixed index annuities is based on two components, 1) the imputed value of the underlying guaranteed host contract, and 2) the fair value of the embedded option component of the contract. For fixed annuities and other investment contracts, as detailed in the above table, the liability is the policyholder’s account value, plus the unamortized balance of the fair value adjustment related to the REALIC acquired business. At December 31, 2014, the Company had interest sensitive life business with minimum guaranteed interest rates ranging from 2.5% to 6.0%, with a 4.65% average guaranteed rate and fixed interest rate annuities with minimum guaranteed rates ranging from 1.0% to 5.5% and a 2.47% average guaranteed rate.

Upon acquisition of REALIC, the Company recorded a fair value adjustment related to certain annuity and interest sensitive liability blocks of business to reflect the cost of the interest guarantees within the inforce liabilities, based on the difference between the guaranteed interest rate and an assumed new money guaranteed interest rate. This adjustment was recorded in reserves for future policy benefits and claims payable. This component of the acquired reserve is reassessed at the end of each period, taking into account changes in the inforce block. Any resulting change in the reserve is recorded as a change in reserve through the consolidated income statements.
 
47
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
At both December 31, 2014 and 2013, approximately 88% of the Company’s fixed interest rate annuity account values correspond to crediting rates that are at the minimum guaranteed interest rates. The following tables show the distribution of the fixed interest rate annuities’ account values within the presented ranges of minimum guaranteed interest rates at December 31 (in millions):
 
      2014  
Minimum
    
Account Value
  
Guaranteed Interest Rate
    
Fixed
    
Fixed Index
    
Variable
    
Total
  
1.0%     $ 2,071.1     $ 1,477.2     $ 2,571.4     $ 6,119.7  
>1.0% - 2.0%
       1,903.4       7,463.8       2,906.6       12,273.8  
>2.0% - 3.0%
       9,294.1       3,655.2       1,330.5       14,279.8  
>3.0% - 4.0%
       1,932.2       —       —       1,932.2  
>4.0% - 5.0%
       2,442.8       —       —       2,442.8  
>5.0% - 5.5%
       321.9       —       —       321.9  
Total
     $ 17,965.5     $ 12,596.2     $ 6,808.5     $ 37,370.2  
 
      2013  
Minimum    
Account Value
  
Guaranteed Interest Rate
    
Fixed
    
Fixed Index
    
Variable
    
Total
  
1.0%     $ 1,480.2     $ 1,108.7     $ 2,395.9     $ 4,984.8  
>1.0% - 2.0%
       2,666.1       7,922.6       3,202.4       13,791.1  
>2.0% - 3.0%
       9,390.1       3,700.6       1,352.6       14,443.3  
>3.0% - 4.0%
       2,010.6       —       —       2,010.6  
>4.0% - 5.0%
       2,481.6       —       —       2,481.6  
>5.0% - 5.5%
       327.1       —       —       327.1  
Total
     $ 18,355.7     $ 12,731.9     $ 6,950.9     $ 38,038.5  
 
At December 31, 2014 and 2013, approximately 81% and 82%, respectively, of the Company’s interest sensitive life business account values correspond to crediting rates that are at the minimum guaranteed interest rates. The following table shows the distribution of the interest sensitive life business account values within the presented ranges of minimum guaranteed interest rates, excluding the business that is subject to the previously mentioned retro treaties, at December 31 (in millions):
 
Minimum
     Account Value - Interest Sensitive Life  
Guaranteed Interest Rate
   2014    
2013
  
>2.0% - 3.0%
   $ 303.6     $ 301.0  
>3.0% - 4.0%
     3,532.7       3,613.5  
>4.0% - 5.0%
     3,074.1       3,160.0  
>5.0% - 6.0%
     2,360.2       2,412.6  
Subtotal
     9,270.6       9,487.1  
Retro treaties
     4,099.1       4,036.7  
Total
   $ 13,369.7     $ 13,523.8

The Company has established a European Medium Term Note program, with up to $5.8 billion in aggregate principal amount outstanding at any one time. Jackson National Life Funding, LLC was formed as a special purpose vehicle solely for the purpose of issuing Medium Term Note instruments to institutional investors, the proceeds of which are deposited with Jackson and secured by the issuance of funding agreements. Carrying values totaled nil and $0.2 billion at December 31, 2014 and 2013, respectively.

The Company has established a $12.0 billion aggregate Global Medium Term Note program. Jackson National Life Global Funding was formed as a statutory business trust, solely for the purpose of issuing Medium Term Note instruments to institutional investors, the proceeds of which are deposited with Jackson and secured by the issuance
 
48
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
of funding agreements. The carrying values at December 31, 2014 and 2013 totaled $1.3 billion and $0.6 billion, respectively.

Those Medium Term Note instruments issued in a foreign currency have been hedged for changes in exchange rates using cross-currency swaps. The fair value of derivatives embedded in funding agreements, as well as unrealized foreign currency transaction gains and losses, are included in the carrying value of the trust instruments supported by funding agreements.

Trust instrument liabilities are adjusted to reflect the effects of foreign currency translation gains and losses using exchange rates as of the reporting date. Foreign currency translation gains and losses are included in net other investment losses.

Jackson and Squire Re are members of the FHLBI primarily for the purpose of participating in the bank’s mortgage-collateralized loan advance program with short-term and long-term funding facilities. Advances are in the form of short-term or long-term notes or funding agreements issued to FHLBI. At December 31, 2014 and 2013, the Company held $108.1 million and $115.1 million, respectively, of FHLBI capital stock, supporting $2.1 billion and $2.0 billion in funding agreements, short-term and long-term borrowing capacity in 2014 and 2013, respectively.
 
9.
Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees
 
The Company issues variable contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder (“traditional variable annuities”). The Company also issues variable annuity and life contracts through separate accounts where the Company contractually guarantees to the contract holder (“variable contracts with guarantees”) either a) return of no less than total deposits made to the account adjusted for any partial withdrawals, b) total deposits made to the account adjusted for any partial withdrawals plus a minimum return, or c) the highest account value on a specified anniversary date adjusted for any withdrawals following the contract anniversary. These guarantees include benefits that are payable in the event of death (GMDB), at annuitization (GMIB), at specified dates during the accumulation period (GMWB) or at the end of a specified period (GMAB).
 
The assets supporting the variable portion of both traditional variable annuities and variable contracts with guarantees are carried at fair value and reported as summary total separate account assets with an equivalent summary total reported for separate account liabilities. Liabilities for guaranteed benefits are general account obligations and are reported in reserves for future policy benefits and claims payable. Amounts assessed against the contract holders for mortality, administrative, and other services are reported in revenue as fee income. Changes in liabilities for minimum guarantees are reported within death, other policy benefits and change in policy reserves within the consolidated income statements with the exception of changes in embedded derivatives, which are included in other net investment losses. Separate account net investment income, net investment realized and unrealized gains and losses, and the related liability changes are offset within the same line item in the consolidated income statements.
 
49
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
At December 31, 2014 and 2013, the Company provided variable annuity contracts with guarantees, for which the net amount at risk (“NAR”) is the amount of guaranteed benefit in excess of current account value, as follows (dollars in millions):
 
                           
Average
                           
Period
                     
Weighted
    
until
December 31, 2014
  
Minimum
    
Account
    
Net Amount
    
Average
    
Expected
   
Return
    
Value
    
at Risk
    
Attained Age
    
Annuitization
Return of net deposits plus a minimum return
                            
GMDB
     0-6%   $ 100,332.3     $ 2,282.0    
65.0 years
      
GMWB - Premium only
     0%     3,354.6       50.0            
GMWB
     0-5% *     411.7       26.1            
GMAB - Premium only
     0%     82.2       0.1            
Highest specified anniversary account value minus
                                  
withdrawals post-anniversary
                                  
GMDB
             10,261.6       301.4    
65.0 years
      
GMWB - Highest anniversary only
             3,322.4       133.2            
GMWB
             1,293.7       90.9            
Combination net deposits plus minimum return, highest
                                  
specified anniversary account value minus
                                  
withdrawals post-anniversary
                                  
GMDB
     0-6%     6,202.9       471.4    
67.5 years
      
GMIB
     0-6%     2,486.9       561.6          
1.4 years
GMWB
     0-8% *     89,383.7       3,169.6            
 
                           
Average
                           
Period
                     
Weighted
    
until
December 31, 2013
  
Minimum
    
Account
    
Net Amount
    
Average
    
Expected
   
Return
    
Value
    
at Risk
    
Attained Age
    
Annuitization
Return of net deposits plus a minimum return
                            
GMDB
     0-6%   $ 87,759.0     $ 2,067.8    
64.7 years
      
GMWB - Premium only
     0%     3,742.8       59.2            
GMWB
     0-5% *     478.5       29.7            
GMAB - Premium only
     0%     95.1       0.2            
Highest specified anniversary account value minus
                                  
withdrawals post-anniversary
                                  
GMDB
             9,146.4       221.2    
64.6 years
      
GMWB - Highest anniversary only
             3,376.5       154.0            
GMWB
             1,449.3       104.0            
Combination net deposits plus minimum return, highest
                                  
specified anniversary account value minus
                                  
withdrawals post-anniversary
                                  
GMDB
     0-6%     5,833.0       360.1    
66.9 years
      
GMIB
     0-6%     2,720.0       524.5          
2.4 years
GMWB
     0-8% *     76,340.6       1,801.2            
 
* Ranges shown based on simple interest. The upper limits of 5% or 8% simple interest are approximately equal to 4.1% and 6%, respectively, on a compound interest basis over a typical 10-year bonus period.
 
50
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
Amounts shown as GMWB above include a ‘not-for-life’ component up to the point at which the guaranteed withdrawal benefit is exhausted, after which benefits paid are considered to be ‘for-life’ benefits. The liability related to this ‘not-for-life’ portion is valued as an embedded derivative, while the ‘for-life’ benefits are valued as an insurance liability (see below). For this table, the net amount at risk of the ‘not-for-life’ component is the undiscounted excess of the guaranteed withdrawal benefit over the account value, and that of the ‘for-life’ component is the estimated value of additional life contingent benefits paid after the guaranteed withdrawal benefit is exhausted.

Account balances of contracts with guarantees were invested in variable separate accounts as follows (in millions):

   
December 31,
  
Fund type:
  
2014
    
2013
  
Equity
   $ 78,075.2     $ 67,128.6  
Bond
     17,369.3       16,633.6  
Balanced
     20,117.6       17,884.1  
Money market
     1,052.1       1,164.1  
Total
   $ 116,614.2     $ 102,810.4  

GMDB liabilities reflected in the general account were as follows (in millions):
 
   
2014
    
2013
  
Balance at January 1
   $ 579.1     $ 480.1  
Incurred guaranteed benefits
     266.9       167.5  
Paid guaranteed benefits
     (59.3 )     (68.5 )
Balance at December 31
   $ 786.7     $ 579.1  
 
The GMDB liability is determined by estimating the expected value of death benefits in excess of the projected account balance and recognizing the excess ratably over the accumulation period based on total expected assessments. The Company regularly evaluates estimates used and adjusts the liability balance through the income statement, within death, other policy benefits and change in policy reserves, if actual experience or other evidence suggests that earlier assumptions should be revised.

The following assumptions and methodology were used to determine the GMDB liability at both December 31, 2014 and 2013 (except where otherwise noted):
1)  
Use of a series of deterministic investment performance scenarios, based on historical average market volatility.
2)  
Mean investment performance assumption of 7.4% after investment management fees, but before investment advisory fees and mortality and expense charges.
3)  
Mortality equal to 61% to 100% of the Annuity 2000 table.
4)  
Lapse rates varying by contract type, duration and degree the benefit is in-the-money and ranging from 0.5% to 40.0%, with an average of 4.0% during the surrender charge period and 9.0% thereafter in 2014 and 2013.
5)  
Discount rates: 7.4% on 2014 and 2013 issues, 8.4% on 2012 and prior issues.
 
Most GMWB reserves are considered to be derivatives under current accounting guidance and are recognized at fair value, as previously defined, with the change in fair value reported in net income. The fair value of these liabilities is determined using stochastic modeling and inputs as further described in Note 5. The fair valued GMWB had a reserve liability of $1,744.4 million at December 31, 2014, and was reported in reserves for future policy benefits and claims payable. The fair valued GMWB had an asset value of $938.7 million at December 31, 2013 and was reported in other assets.

Jackson has also issued certain GMWB products that guarantee payments over a lifetime. Reserves for the portion of these benefits after the point where the guaranteed withdrawal balance is exhausted are calculated similar to the GMDB liability with the sole exception that the reserve calculation uses a series of stochastic investment performance scenarios. At December 31, 2014 and 2013, these GMWB reserves totaled $53.0 million and $9.7 million, respectively, and were reported in reserves for future policy benefits and claims payable.
 
51
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
GMAB benefits were offered on some variable annuity plans. However, the Company no longer offers these benefits. The GMAB had an asset value of $0.2 million and $0.5 million at December 31, 2014 and 2013, respectively.

The direct GMIB liability is determined at each period end by estimating the expected value of the annuitization benefits in excess of the projected account balance at the date of annuitization and recognizing the excess ratably over the accumulation period based on total expected assessments. The Company regularly evaluates estimates used and adjusts the liability balance through the income statement within death, other policy benefits and change in policy reserves, if actual experience or other evidence suggests that earlier assumptions should be revised. The assumptions used for calculating the direct GMIB liability at December 31, 2014 and 2013 are consistent with those used for calculating the GMDB liability. At December 31, 2014 and 2013, GMIB reserves before reinsurance totaled $29.4 million and $20.7 million, respectively.

Other Liabilities – Insurance and Annuitization Benefits
The Company has established additional reserves for life insurance business for universal life (“UL”) plans with secondary guarantees, interest-sensitive life (“ISWL”) plans that exhibit “profits followed by loss” patterns and account balance adjustments to tabular guaranteed cash values on one interest-sensitive life plan. The Company also has a small closed block of two-tier annuities, where different crediting rates are used for annuitization and surrender benefit calculations. A liability is established to cover future annuitization benefits in excess of surrender values. The total liability for this block is the surrender value, plus the annuitization reserve.

Liabilities for these benefits have been established according to the methodologies described below:

       December 31, 2014  
December 31, 2013
             
Weighted
            
Weighted
         
Net Amount
  
Average
        
Net Amount
  
Average
   
Liability
    
at Risk
  
Attained
  
Liability
    
at Risk
  
Attained
Benefit Type
  
(in millions)
    
(in millions)
  
Age
  
(in millions)
    
(in millions)
  
Age
UL insurance benefit *
   $ 809.8     $ 28,103.8  
59.5 years
   $ 793.3     $ 29,865.8  
58.8 years
Two-tier annuitization
     2.5       22.4  
66.2 years
     2.9       23.6  
65.5 years
ISWL account balance
                                    
adjustment
     100.4       n/a  
n/a
     90.8       n/a  
n/a

* Amounts for the UL benefits are for the total of the plans containing any policies having projected non-zero excess benefits, and thus may include some policies with zero projected excess benefits.

The following assumptions and methodology were used to determine the UL insurance benefit liability at December 31, 2014 and 2013:
1)  
Use of a series of deterministic premium persistency scenarios.
2)  
Other experience assumptions similar to those used in amortization of deferred acquisition costs.
3)  
Discount rates equal to credited interest rates, approximately 4.0% to 5.5%.
 
The following assumptions and methodology were used to determine the two-tier annuitization benefit liability at December 31, 2014 and 2013:
1)  
Use of a series of deterministic scenarios, varying by surrender rate and annuitization rate.
2)  
Other experience assumptions similar to those used in amortization of deferred acquisition costs.
3)  
Discount rates equal to credited interest rates, approximately 3.0% to 4.0%.
 
52
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
10.
Debt

The aggregate carrying value of borrowings was as follows (in thousands):

             
   
2014
    
2013
  
Surplus notes
   $ 249,428     $ 249,401  
Mortgage loans
     29,309       30,088  
FHLBI mortgage loan
     —       5,000  
FHLBI bank loan
     50,000       —  
Total
   $ 328,737     $ 284,489  
                 
Due in less than 1 year
   $ 15,492          
Due in more than 1 to 5 years
     13,817          
Due after 5 years
     299,428          
Total
   $ 328,737          

Surplus notes
On March 15, 1997, the Company issued 8.15% surplus notes in the principal amount of $250.0 million due March 15, 2027. These surplus notes were issued pursuant to Rule 144A under the Securities Act of 1933, and are unsecured and subordinated to all present and future indebtedness, policy claims and other creditor claims and may not be redeemed at the option of the Company or any holder prior to maturity.

Under Michigan Insurance Law, for statutory reporting purposes, the surplus notes are not part of the legal liabilities of the Company and are considered surplus funds. Payments of interest or principal may only be made with the prior approval of the commissioner of insurance of the state of Michigan and only out of surplus earnings which the commissioner determines to be available for such payments under Michigan Insurance Law. Interest is payable semi-annually on March 15th and September 15th of each year. Interest expense on the notes was $20.4 million in 2014, 2013, and 2012.

Mortgage loans
At December 31, 2014 and 2013, certain consolidated real estate VIEs had outstanding mortgage loans with a weighted average interest rate of 4.4%, with maturities through 2016. Interest expense totaled $1.3 million, $1.3 million, and $1.4 million in 2014, 2013, and 2012, respectively.

Federal Home Loan Bank Loan
In 2014, the Company received a loan from the FHLBI under its community investment program, which is due January 31, 2034. The loan accrues interest at 0.14% and the outstanding balance was $50.0 million at December 31, 2014. During 2014, interest expense totaled $71 thousand. At December 31, 2014, the loan was collateralized by mortgage-related securities and commercial mortgage loans with a carrying value of $67.4 million.
 
11.
Federal Home Loan Bank Advances
 
The Company entered into a short-term advance program with the FHLBI in which interest rates were either fixed or variable based on the FHLBI cost of funds or market rates. Advances of $200.0 million were outstanding at December 31, 2014 and 2013 and were recorded in other liabilities. The Company paid interest of $23 thousand, $0.1 million and $0.3 million on such advances in 2014, 2013 and 2012, respectively. At December 31, 2014, advances were collateralized by mortgage-related securities and commercial mortgage loans with a value of $270.7 million.
 
53
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 

12.
Income Taxes
 
The components of the provision for federal, state and local income taxes were as follows (in thousands):

      Years Ended December 31,  
   
2014
    
2013
    
2012
  
Current tax expense (benefit)
   $ 405,567     $ (110,081 )   $ 302,110  
Deferred tax (benefit) expense
     (415,974 )     277,078       53,323  
Federal income tax (benefit) expense
   $ (10,407 )   $ 166,997     $ 355,433

The federal income tax provisions differ from the amounts determined by multiplying pre-tax income attributable to Jackson by the statutory federal income tax rate of 35% for 2014, 2013 and 2012 as follows (in thousands):
 
   
Years Ended December 31,
  
   
2014
    
2013
    
2012
  
Income taxes at statutory rate
   $ 117,283     $ 324,491     $ 452,615  
Dividends received deduction
     (125,394 )     (136,844 )     (107,412 )
Other
     (2,296 )     (20,650 )     10,230  
Federal income tax (benefit) expense
   $ (10,407 )   $ 166,997     $ 355,433  
                         
Effective tax rate
     -3.1%     18.0%     27.5%
 
Federal income taxes paid (refunded) were $ 256.8 million, $(241.9) million, and $241.2 million in 2014, 2013, and 2012, respectively.

The tax effects of significant temporary differences that gave rise to deferred tax assets and liabilities were as follows (in thousands):

   
December 31,
  
   
2014
    
2013
  
Gross deferred tax asset
            
Difference between financial reporting and the tax basis of:
            
Policy reserves and other insurance items
   $ 3,616,046     $ 2,807,663  
Other-than-temporary impairments and other investment items
     70,069       107,736  
Deferred compensation
     73,761       62,302  
Net operating loss carryforward
     86,270       89,696  
Other, net
     63,740       28,847  
Total gross deferred tax asset
     3,909,886       3,096,244  
 
Gross deferred tax liability
            
Difference between financial reporting and the tax basis of:
            
Deferred acquisition costs and sales inducements
     (2,460,711 )     (2,034,230 )
Net unrealized gains on available for sale securities
     (1,417,521 )     (925,387 )
Other, net
     (17,698 )     (26,234 )
Total gross deferred tax liability
     (3,895,930 )     (2,985,851 )
                 
Net deferred tax asset
   $ 13,956     $ 110,393  

The Company is required to evaluate the recoverability of its deferred tax assets and establish a valuation allowance, if necessary, to reduce its deferred tax asset to an amount that is more likely than not to be realizable. Considerable judgment and the use of estimates are required when determining whether a valuation allowance is necessary and, if so, the amount of such valuation allowance. When evaluating the need for a valuation allowance, the Company considers many factors, including: the nature and character of the deferred tax assets and liabilities; taxable income in prior carryback years; future reversals of temporary differences; the length of time carryovers can be utilized; and any
 
54
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
tax planning strategies the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes as of December 31, 2014, it is more likely than not that the deferred tax assets, will be realized. At December 31, 2014 and 2013, the Company did not have a valuation allowance.

At December 31, 2014, the Company had a federal tax ordinary loss carryforward of $246.5 million which begins to expire in 2026, that was attributable to the Company’s acquisition of REALIC. Section 382 of the Internal Revenue Code imposes limitations on the utilization of net operating loss carryforwards. The Section 382 limitation is an annual limitation on the amount of pre-acquisition NOLs that a corporation may use to offset post-acquisition income. Section 382 further limits certain unrealized built-in losses at the time of acquisition. The annual limitation is approximately $21.0 million.

In 2007, the Internal Revenue Service (“IRS”) issued Revenue Ruling 2007-54 that would have changed accepted industry and IRS interpretations of the statutes governing the computation of the Dividends Received Deduction (“DRD”) on separate account assets held in connection with variable annuity and life contracts, but that ruling was suspended by Revenue Ruling 2007-61. Revenue Ruling 2007-61 also announced the Treasury Department’s and the IRS’s intention to issue regulations with respect to certain computational aspects of the DRD on separate account assets held in connection with variable contracts. In February 2014, the IRS issued Revenue Ruling 2014-7, which merely republishes the noncontroversial first holding of Revenue 2007-54 regarding the amount of life insurance reserves taken into account for tax purposes for a variable annuity when some or all of the reserves are part of the Company’s separate account reserves. The new revenue ruling modifies and supersedes Revenue Ruling 2007-54, which effectively revokes the controversial second holding of Revenue Ruling 2007-54 that had a negative impact on DRD computations. The new ruling also states that Revenue Ruling 2007-61 is obsolete. This administrative action does not foreclose future regulations on the computation of the Company’s share of the DRD. However, it is likely that any regulations that the IRS proposes for issuance in this area will be subject to public notice and comment, at which time insurance companies and other interested parties will have the opportunity to raise legal and practical questions about the content, scope and application of such regulations. Although regulations that represent a substantial change in an interpretation of the law are generally given a prospective effective date, there is no assurance that the change will not be retrospectively applied. As a result, depending on the ultimate timing and substance of any such regulations, which are unknown at this time, such future regulations could result in the elimination of some or all of the separate account DRD tax benefit that the Company receives. In January 2010, Jackson received a formal Notice of Assessment from the IRS disallowing the separate account DRD for 2003, 2005 and 2006. Jackson did not agree with the assessment and filed a protest with the Appellate Division of the IRS. In February 2013, the IRS fully conceded the separate account DRD issue, for the years under examination, in favor of the Company after obtaining approval from the Joint Committee on Taxation.

In February 2012, Brooke Life received a Notice of Proposed Adjustment from the IRS, regarding an assessment related to its tax treatment of interest expense on intercompany debt in 2007 and 2008. Due to the intercompany tax sharing agreement, the effect of an adjustment, if any, would impact Jackson’s total stockholder’s equity. The total aggregate exposure to the Company’s stockholder’s equity is approximately $160.4 million. Brooke Life did not agree with the assessment, believed its current position was sustainable and filed a protest with the Appellate Division of the IRS. In March 2014, the IRS fully conceded the debt/equity issue for years under examination in favor of the Company.

The Company has considered both permanent and temporary positions in determining the unrecognized tax benefit rollforward. The total amount of unrecognized benefits represent tax positions for which there is uncertainty about the timing of certain deductions. The timing of such deductions would not affect the annual effective tax rate, excluding the impact of interest and penalties.

The Company has not recorded any amounts for penalties related to unrecognized tax benefits during 2014, 2013, or 2012.

Based on information available as of December 31, 2014, the Company believes that, in the next 12 months, there are no positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease.
 
55
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
13.
Commitments, Contingencies, and Guarantees
 
The Company and its subsidiaries are involved in litigation arising in the ordinary course of business. It is the opinion of management that the ultimate disposition of such litigation will not have a material adverse affect on the Company’s financial condition. Jackson has been named in civil litigation proceedings, which appear to be substantially similar to other class action litigation brought against many life insurers including allegations of misconduct in the sale of insurance products. The Company accrues for legal contingencies once the contingency is deemed to be probable and reasonably estimable. At December 31, 2014 and 2013, Jackson recorded accruals totaling $8.5 million and $18.4 million, respectively.

State guaranty funds provide payments for policyholders of insolvent life insurance companies. These guaranty funds are financed by assessing solvent insurance companies based on location, volume and types of business. The Company estimated its reserve for future state guaranty fund assessments based on data received from the National Organization of Life and Health Insurance Guaranty Associations. Based on data received, the Company’s reserve for future state guaranty fund assessments was $5.4 million and $21.7 million at the end of 2014 and 2013, respectively. Related premium tax offsets were $3.0 million and $9.1 million at December 31, 2014 and 2013, respectively. While Jackson cannot predict the amount and timing of any future assessments, the Company believes the reserve is adequate for all anticipated payments for known insolvencies.
 
In the first quarter of 2014, Jackson commenced a review of its wholly owned subsidiaries (Curian Capital, LLC and Curian Clearing, LLC). During its review, Jackson discovered that Curian Capital’s receipt of certain fees may have been inconsistent with applicable regulations. Jackson promptly reported these issues to regulatory authorities and retained independent outside legal counsel to conduct a thorough investigation. As of December 31, 2014, Curian Capital has recorded expenses of $61.5 million related to actual expenses incurred/customer payments and a provision for currently estimable outstanding exposures related to these issues. The reserve represents Jackson’s best estimate of the outstanding exposure as of December 31, 2014. Continuing work and regulatory discussions may result in future expenses. These expenses are not estimable at this time. Based on current information, however, management believes that any additional exposure is unlikely to be material to Jackson.

At December 31, 2014, the Company had unfunded commitments related to its investments in limited partnerships and limited liability companies totaling $516.5 million. At December 31, 2014, unfunded commitments related to fixed-rate commercial mortgage loans and other fixed maturities totaled $114.2 million.

The Company has received regulatory inquiries on an industry-wide matter relating to claims settlement practices and compliance with unclaimed property laws. Concurrently, some regulators and state legislatures have required life insurance companies to take additional steps to identify unreported deceased policy and contract holders. Additionally, certain states are contracting with independent firms to perform specific unclaimed property audits or targeted market conduct examinations covering claims settlement practices and procedures for escheating unclaimed property. Any regulatory audits, related examination activity and internal reviews may result in additional payments to beneficiaries, escheatment of funds deemed abandoned under state laws, administrative penalties and changes in the Company’s procedures for the identification of unreported claims and handling of escheatable property.

Jackson continually reviews active and recently terminated policies compared to vendors’ databases of known deaths. At December 31, 2014 and 2013, Jackson accrued $20.0 million and $21.1 million, respectively, for estimated remaining exposure relating to these inquiries.

The Company has two separate service agreements with third party administrators to provide policyholder administrative services. These agreements, subject to certain termination provisions, have ten-year terms and expire in 2019 and 2020.
 
56
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The Company leases office space, land and equipment under several operating leases that expire at various dates through 2051. Certain leases include escalating lease rates, lease abatements and other incentives and, as a result, at December 31, 2014, Jackson recorded a liability of $8.8 million for future lease payments. Lease expense was $29.8 million, $30.7 million, and $28.1 million in 2014, 2013, and 2012, respectively. At December 31, 2014, future minimum payments under these noncancellable operating leases were as follows (in thousands):

2015
   $ 20,386  
2016
     18,110  
2017
     11,732  
2018
     10,048  
2019
     9,400  
Thereafter
     24,347  
Total
   $ 94,023
 
14.
Share-Based Compensation
 
Certain officers participate in various share award plans relating to Prudential shares and/or American Depositary Receipts (“ADR’s”) that are tradable on the New York Stock Exchange and are described below.

The Group Performance Share Plan (“GPSP”) is a Prudential incentive plan in which all executive directors of Prudential and other senior executives can participate. Awards are granted in the form of a nil cost option with a vesting period of three years. The performance measure for the awards is that Prudential’s Total Shareholder Return (“TSR”) outperforms an index comprised of peer companies over a three-year period. Vesting of the awards between each performance period is on a straight line sliding scale basis ranging from 0% (less than the peer index TSR return) to 100% (more than 120% of the peer index TSR return). Participants are entitled to the value of reinvested dividends that would have accrued on the shares that vest.

The Business Unit Performance Plan (“BUPP”) is a Prudential incentive plan created to provide a common framework under which awards would be made to Chief Executive Officers (“CEO”) of Prudential’s business units. Awards under this nil cost plan for Jackson’s CEO are based on compound annual growth in Jackson Shareholder Capital Value on a European Embedded Value (“EEV”) basis with performance measured over three years. Awards granted in 2009 and later are settled in ADR’s after vesting. Participants are entitled to receive the value of reinvested dividends over the performance period for those shares/ADR’s that vest. The compound annual growth parameters for the awards are based on factors relevant to the U.S. business and vesting between each performance point is on a straight line sliding scale basis ranging from 0% (less than 8% growth) to 100% (more than 12% growth).

In 2011, the Company granted one-off type retention awards to certain key senior executives within Jackson. These awards were subject to the prior approval of the Jackson Remuneration Committee and are nil cost options with a contingent right to receive Prudential ADR’s. The awards are contingent upon continued employment of the recipient through the award vesting date. There are no performance measurements with these awards.

The Company classifies all of the above plans as equity settled plans and, therefore, reflects the net reserve related to the compensation expense and the value of the shares distributed under this plan within the statement of equity. At December 31, 2014 and 2013, the Company had $14.1 million and $18.4 million, respectively, reserved for future payments under these plans.

The Company also has a performance-related share award plan which, subject to the prior approval of the Jackson Remuneration Committee, may grant share awards to eligible employees in the form of a contingent right to receive Prudential ADR’s, or a conditional allocation of Prudential ADR’s. These share awards are based on the compound annual EEV imputed growth in shareholder value of the U.S. business, have vesting periods of four years and are at nil cost to the employee. Share awards vest between 0% (less than 8% growth) and 150% (more than 17.5% growth) of the grant amounts dependent on the compound annual growth rate attained over the performance period. Award holders do not have any right to dividends or voting rights attached to the ADR’s granted during the performance period. In 2013, this plan was replaced by the Prudential Long-Term Incentive Plan (“PLTIP”) as further described below.
 
57
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The PLTIP is a Prudential incentive plan in which the Company may grant share awards to eligible employees in the form of a contingent right to receive Prudential ADR’s, or a conditional allocation of Prudential ADR’s, subject to the prior approval of the Jackson Remuneration Committee. These share awards vest based on the achievement of planned IFRS pretax operating income for the U.S. business, have vesting periods of three years and are at nil cost to the employee. Share awards vest between 0% (less than 90% of plan) and 100% (more than 110% of plan) of the grant amounts dependent on IFRS pretax operating income attained over the performance period. Award holders do not have any right to dividends or voting rights attached to the ADR’s granted during the performance period. Upon vesting, a number of ADRs equivalent to the value of dividends that otherwise would have been received over the performance period are added to vested awards.

The Company classifies these plans as liability settled plans and, therefore, reflects the accrued compensation expense and the value of the shares distributed under the plans within other liabilities. At December 31, 2014 and 2013, the Company had $54.2 million and $31.3 million, respectively, accrued for future payments under these plans.

The Company either acquires shares/ADR’s or reimburses Prudential for the costs of any shares/ADR’s that were distributed to participants in the above plans, or may be distributed in the future. The shares/ADR’s acquired for all the share-award plans are held at cost in a trust account for future distributions. The Company reflects the costs of shares/ADR’s held within the consolidated statement of equity as shares held in trust. At December 31, 2014 and 2013, the Company had $27.1 million and $22.8 million of shares/ADR’s held at cost in the trust, respectively.

The Company recognizes share-based compensation expense associated with the equity settled plans based on the grant-date award fair value as determined using either the Black-Scholes model or the Monte Carlo model ratably over the requisite service period of each individual grant, which generally equals the vesting period. For the liability settled share award plans, compensation expense is recognized based on the change in fair value of the award at the end of each reporting period due to the plans’ cash settlement alternatives.

Total expense related to these share-based performance related compensation plans was as follows (in millions):
 
  For the Years Ended December 31,
   
2014
    
2013
    
2012
  
Group Performance Share Plan
   $ 3.9     $ 4.9     $ 8.0  
Business Unit Performance Plan
     3.4       5.0       7.2  
Retention Share Plan
     2.9       3.2       2.0  
Jackson performance plan
     5.6       16.8       15.8  
Prudential LTIP plan
     30.6       10.0       —  
Total compensation expense related to
                        
incentive plans
   $ 46.4     $ 39.9     $ 33.0  
                         
Income tax benefit
   $ 16.2     $ 14.0     $ 11.5  
 
The total unrecognized compensation expense related to all share-based plans at December 31, 2014 was $64.4 million with a weighted average remaining period of 2.26 years.

During 2014, there were no new grants under the GPSP, BUPP, retention or performance plans.
 
58
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The weighted average share/ADR fair values of share-based awards granted by plan during 2014, 2013 and 2012 were as follows:
 
   
2014
    
2013
    
2012
  
Weighted Average Fair Value:
                  
Group Performance Share Plan
   $ —     $ —     $ 12.11  
Business Unit Performance Plan
   $ —     $ —     $ 20.89  
Jackson performance plan
   $  —     $ —     $ 24.24  
Prudential LTIP plan
   $ 42.89     $ 32.55       —  
 
The weighted average fair value for the Company’s performance awards represents the average Prudential ADR price for the thirty days following Prudential’s unaudited annual earnings release date. The fair value amounts relating to the equity settled plans were determined using either the Black-Scholes or Monte Carlo option-pricing models. These models are used to calculate fair values for options and awards at the grant date based on the quoted market price of the stock at the measurement date, the dividend yield, expected volatility, risk-free interest rates and expected term.

The following assumptions were used in 2012 in determining the GPSP fair value:
 
   
2012
  
Dividend yield
     3.63%
Expected volatility
     32.80%
Risk-free interest rate
     0.30%
Expected life
  
3 years
  
Weighted average share price
   $ 12.11  
 
The expected volatility is measured as the standard deviation of expected share price returns based on statistical analysis of daily share prices over a period up to the grant date equal to the expected life of the options. Risk-free interest rates are United Kingdom gilt rates with projections for three-year terms to match corresponding vesting periods. Dividend yield is determined as the average yield over the year of the grant and expected dividends are not incorporated into the measurement of fair value. For the GPSP, volatility and correlation between Prudential and an index constructed from a simple average of the Total Shareholder Return growth of ten companies is required. Changes to the subjective input assumptions could materially affect the fair value estimate. At December 31, 2014 and 2013, there were no outstanding non-vested Prudential shares granted.
 
59
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
Outstanding non-vested Prudential ADR’s granted were as follows:

    GPSP     BUPP    
Performance Award Plan
    
Prudential LTIP plan
  
                                                   
         
Weighted
          
Weighted
          
Weighted
           Weighted  
         
Average
          
Average
          
Average Grant
           Average  
         
Grant Date
          
Grant Date
          
Date Fair
           Grant Date  
   
ADR's
    
Fair Value
    
ADR's
    
Fair Value
    
ADR's
    
Value
    
ADR's
     Fair Value  
At December 31, 2012
     349,673       $ 10.68       349,673     $ 18.83       849,017     $ 16.19       —     $ —  
                                                                   
Granted
     —         —       —       —       —       —       1,395,667       32.55  
Exercised
     100,813         8.33       100,813       15.48       346,957       10.31       —       —  
Lapsed/Forfeited
     50,408         8.33       50,408       15.48       25,036       21.19       19,444       32.14  
At December 31, 2013
     198,452         12.47       198,452       21.39       477,024       20.21       1,376,223       32.56  
                                                                   
Granted
     —         —       —       —       —       —       1,115,709       42.89  
Exercised
     98,824         12.84       99,824       21.89       217,638       15.97       —       —  
Lapsed/Forfeited
     —         —       —       —       16,844       23.75       117,301       35.57  
At December 31, 2014
     99,628       $ 12.11       98,628     $ 20.89       242,542     $ 23.76       2,374,631     $ 37.26
 
At December 31, 2014, there were 94,971 non-vested Prudential ADR grants related to the one-off retention award plan, with a weighted average grant date price of $19.09.
 
15.
Statutory Accounting Capital and Surplus

The Company is required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the insurance department of the state of domicile. Statutory accounting practices primarily differ from GAAP by charging policy acquisition costs to expense as incurred and establishing future policy benefit liabilities using different actuarial assumptions, as well as valuing investments and certain assets and accounting for deferred income taxes on a different basis.

Under Michigan Insurance Law, while Jackson must provide notification to the Michigan commissioner of insurance prior to payment of any dividend, ordinary dividends on capital stock may only be distributed out of earned surplus, excluding any unrealized capital gains and the effect of permitted practices (referred to as adjusted earned surplus). At December 31, 2014, the adjusted earned surplus of the Company was $934.6 million. Ordinary dividends are also limited to the greater of 10% of statutory surplus as of the preceding year-end, excluding any increase arising from the application of permitted practices, or the statutory net income, excluding any net realized investment gains, for the twelve month period ended on the preceding December 31. The commissioner may approve payment of dividends in excess of these amounts, which would be deemed an extraordinary dividend. The maximum amount that would qualify as an ordinary dividend, which would consequently be free from restriction and available for payment of dividends to Brooke Life in 2015, is estimated to be $857.9 million, subject to the availability of adjusted earned surplus as of the dividend date.

The Company received capital contributions from its parent of $14.1 million, $35.1 million, and $36.0 million in 2014, 2013, and 2012, respectively, from Brooke Life’s forgiveness of intercompany tax liabilities. Dividend payments from the Company to its parent were $697.0 million, $507.0 million, and $400.0 million in 2014, 2013, and 2012, respectively.

Statutory capital and surplus of the Company, as reported in its Annual Statement, was $4.5 billion and $4.4 billion at December 31, 2014 and 2013, respectively. Statutory net income of the Company, as reported in its Annual Statement, was $878.3 million, $741.3 million, and $847.2 million in 2014, 2013, and 2012, respectively.

The commissioner has granted Jackson a permitted practice that allows Jackson to carry interest rate swaps at book value, as if the requirements for statutory hedge accounting were in place, instead of at fair value as would have been otherwise required. Jackson is required to demonstrate the effectiveness of its interest rate swap program pursuant to the Michigan Insurance Code. This permitted practice expires on October 1, 2015. At December 31, 2014 and 2013,
 
60
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
the effect of the permitted practice (decreased) increased statutory surplus by $(555.1) million and $1.2 million, net of tax, respectively. The permitted practice had no impact on statutory net income.

Under Michigan Insurance Law, VOBA is reported as an admitted asset if certain criteria are met. In relation to the acquisition of REALIC and pursuant to Michigan Insurance Law, the Company reported $376.6 million and $425.8 million of statutory basis VOBA at December 31, 2014 and 2013, respectively, which is fully admissible.

The NAIC has developed certain risk-based capital (“RBC”) requirements for life insurance companies. Under those requirements, compliance is determined by a ratio of a company’s total adjusted capital, calculated in a manner prescribed by the NAIC (“TAC”) to its authorized control level RBC, calculated in a manner prescribed by the NAIC (“ACL RBC”). Companies below specific trigger points or ratios are classified within certain levels, each of which requires specified corrective action. The minimum level of TAC before corrective action commences is twice ACL RBC (“Company action level RBC”). At December 31, 2014, the Company’s TAC was more than 400% of the Company action level RBC.

In addition, on the basis of statutory financial statements that insurers file with the state insurance regulators, the NAIC annually calculates twelve financial ratios to assist state regulators in monitoring the financial condition of insurance companies. A usual range of results for each ratio is used as a benchmark and departure from the usual range on four or more of the ratios can lead to inquiries from individual state insurance departments. In 2014 and 2013, there were no significant exceptions with any ratios.

16.
Other Related Party Transactions

The Company’s investment portfolio is managed by PPM America, Inc. (“PPMA”), a registered investment advisor, and PPM Finance, Inc. (collectively, “PPM”). PPM is ultimately a wholly owned subsidiary of Prudential. The Company paid $45.0 million, $45.7 million, and $38.7 million to PPM for investment advisory services during 2014, 2013, and 2012, respectively.

National Planning Holdings, Inc. (“NPH”), Jackson’s affiliated broker-dealer network, distributes products issued by Jackson and receives commissions and fees from Jackson. Commissions and fees paid by Jackson to NPH during 2014, 2013, and 2012 totaled $106.4 million, $102.1 million, and $99.6 million, respectively.

Jackson has entered into shared services administrative agreements with both NPH and PPMA. Under the shared services administrative agreements, Jackson charged $9.8 million, $7.1 million, and $7.3 million of certain management and corporate services costs to these affiliates in 2014, 2013, and 2012, respectively.

Jackson provides a $40.0 million revolving credit facility to Nicole Finance, Inc., an upstream holding company. The loan, executed in 2011, is unsecured, matures in December 2016, accrues interest at 1.27% per annum and has a commitment fee of 0.10% per annum. The outstanding balance at December 31, 2014 and 2013 was nil and $9.5 million, respectively. The highest outstanding loan balance during 2014 and 2013 was $16.8 million and $26.0 million, respectively. During 2014, 2013, and 2012, interest and commitment fees totaled $0.1 million, $0.2 million, and $0.2 million, respectively.

Jackson provides a $40.0 million revolving credit facility to PPMA. The loan is unsecured, matures in September 2018, accrues interest at LIBOR plus 2% per annum and has a commitment fee of 0.25% per annum. There were no advances on the loan in 2014 or 2013. Interest and commitment fees totaled $0.1 million each year for 2014, 2013, and 2012.

Jackson provides a $20.0 million revolving credit facility to Brooke Holdings, LLC, an upstream holding company. The loan is unsecured, matures in June 2019, accrues interest at LIBOR plus 2% per annum and has a commitment fee of 0.25% per annum. The outstanding balance at December 31, 2014 and 2013 was $0.1 million and nil, respectively. The highest outstanding loan balance during 2014 and 2013 was $0.1 million and nil, respectively. Interest and commitment fees totaled $0.1 million each year for 2014, 2013, and 2012.

Jackson provides, through its PGDS subsidiary, information technology services to certain Prudential affiliates. Jackson recognized $18.6 million, $20.2 million, and $21.6 million of revenue associated with these services during
 
61
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
2014, 2013, and 2012, respectively. This revenue is included in other income in the accompanying consolidated income statements. This revenue is substantially equal to the costs incurred by PGDS to provide the services, which are reported in general and administrative expenses in the consolidated income statements.

17.
Benefit Plans

The Company has a defined contribution retirement plan covering substantially all employees and certain affiliates. To be eligible to participate in the Company’s contribution, an employee must have attained the age of 21, completed at least 1,000 hours of service in a 12-month period and passed their 12-month employment anniversary. In addition, the employee must be employed on the applicable January 1 or July 1 entry date. The Company’s annual contributions, as declared by the board of directors, are based on a percentage of eligible compensation paid to participating employees during the year. In addition, the Company matches a participant’s elective contribution, up to 6 percent of eligible compensation, to the plan during the year. The Company’s expense related to this plan was $25.9 million, $25.4 million, and $20.9 million in 2014, 2013, and 2012, respectively.
 
The Company maintains non-qualified voluntary deferred compensation plans for certain agents and employees of Jackson and certain affiliates. At December 31, 2014 and 2013, the liability for such plans totaled $496.9 million and $419.5 million, respectively, and is reported in other liabilities. Jackson invests in selected mutual funds in amounts similar to participant elections as a hedge against significant movement in the payout liability. The Company’s expense related to these plans, including a match of elective deferrals for the agents’ deferred compensation plan, was $30.2 million, $56.4 million, and $25.5 million in 2014, 2013, and 2012, respectively. Investment income from the mutual funds totaled $13.2 million, $40.7 million, and $18.9 million in 2014, 2013, and 2012, respectively.
 
18.
Operating Costs and Other Expenses
 
The following table is a summary of the Company’s operating costs and other expenses (in thousands):
 
    For the Years Ended December 31,  
   
2014
    
2013
    
2012
  
Commission expenses
   $ 1,922,651     $ 1,752,884     $ 1,646,678  
General and administrative expenses
     786,676       804,851       709,690  
Deferral of policy acquisition costs
     (1,093,265 )     (1,077,016 )     (1,105,124 )
Total operating costs and other expenses
   $ 1,616,062     $ 1,480,719     $ 1,251,244  

19.
Reclassifications Out of Accumulated Other Comprehensive Income
 
The following table represents changes in the balance of AOCI, net of income tax, related to unrealized investment gains (losses) (in thousands):
 
   
December 31,
  
   
2014
    
2013
  
Balance, beginning of year
   $ 526,947     $ 2,107,631  
OCI before reclassifications
     991,987       (1,502,596 )
Amounts reclassified from AOCI
     (42,737 )     (81,170 )
Less: Comprehensive loss attributable
                
to noncontrolling interest
     2,368       3,082  
Balance, end of year
   $ 1,478,565     $ 526,947  
 
62
 
Jackson National Life Insurance Company and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2014 and 2013 
 
The following table represents amounts reclassified out of AOCI (in thousands):

   
Amounts Reclassified
  
Affected Line Item in the
AOCI Components
  
from AOCI
  
Consolidated Income Statement
                                     December 31,
   
2014
    
2013
    
Net unrealized investment loss:
              
Net realized loss on investments
   $ (59,422 )   $ (123,157 )
Other net investment losses
Other-than-temporary impairments
     (6,326 )     (1,721 )
Total other-than-temporary impairments
Net unrealized loss before income taxes
     (65,748 )     (124,878 )  
Income tax benefit
     23,011       43,708    
Reclassifications, net of income taxes
   $ (42,737 )   $ (81,170 )  
 
63

 
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:

Jackson National Separate Account - I:

Report of Independent Registered Public Accounting Firm
                       Statements of Assets and Liabilities as of December 31, 2014
                       Statements of Operations for the period ended December 31, 2014
                       Statements of Changes in Net Assets for the periods ended December 31, 2014 and 2013
                       Notes to Financial Statements

Jackson National Life Insurance Company:

Report of Independent Registered Public Accounting Firm
                       Consolidated Balance Sheets as of December 31, 2014 and 2013
                       Consolidated Income Statements for the years ended December 31, 2014, 2013, and 2012
                       Consolidated Statements of Stockholder's Equity and Comprehensive Income for the years ended
                       December 31, 2014, 2013, and 2012
                       Consolidated Statements of Cash Flows for the years ended December 31, 2014, 2013, and 2012
                       Notes to Consolidated Financial Statements

(b) Exhibits

Exhibit                Description
No.

1. Resolution of Depositor's Board of Directors authorizing the establishment of the Registrant, incorporated herein by reference to the Registrant's Post-Effective Amendment No. 9 filed on April 21, 1999 (File Nos. 033-82080 and 811-08664).

2. Not Applicable.

3.

a. Amended and Restated General Distributor Agreement dated June 1, 2006, incorporated herein by reference to the Registrant's Registration Statement filed on August 10, 2006 (File Nos. 333-136472 and 811-08664).

b. Specimen of Selling Agreement (V2565 01/12), incorporated herein by reference to the Registrant's Pre-Effective Amendment No. 1, filed on April 24, 2012 (File Nos. 333-178774 and 811-08664).

c. Specimen of Selling Agreement (V2565 08/12), incorporated herein by reference to Registrant's Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).

d. Specimen of Selling Agreement (V2565 06/14), incorporated herein by reference to Registrant's Post-Effective Amendment No. 13, filed on September 11, 2014 (File Nos. 333-183048 and 811-08664).

4.

a.
Specimen of the Perspective II Fixed and Variable Annuity Contract, incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

b.
Specimen of Section 403(b) Tax Sheltered Annuity Endorsement, incorporated herein by reference to the Registrant's Registration Statement filed on August 19, 2004 (File Nos. 333-118368 and 811-08664).

c.
Specimen of Retirement Plan Endorsement, incorporated herein by reference to the Registrant's Registration Statement filed on August 19, 2004 (File Nos. 333-118368 and 811-08664).

d.
Specimen of Individual Retirement Annuity Endorsement, incorporated herein by reference to the Registrant's Registration Statement filed on August 19, 2004 (File Nos. 333-118368 and 811-08664).

e.
Specimen of Roth Individual Retirement Annuity Endorsement, incorporated herein by reference to the Registrant's Registration Statement filed on August 19, 2004 (File Nos. 333-118368 and 811-08664).

f.
Specimen of Charitable Remainder Trust Endorsement, incorporated herein by reference to the Registrant's Pre-Effective Amendment filed on December 23, 2004 (File Nos. 333-118368 and 811-08664).

g.
Specimen of Earnings Protection Benefit Endorsement, incorporated herein by reference to the Registrant's Registration Statement filed on November 21, 2001 (File Nos. 333-73850 and 811-08664).

h.
Specimen of the Highest Quarterly Anniversary Value Guaranteed Minimum Death Benefit (HQAV) Endorsement (7595 04/09), incorporated herein by reference to the Registrant's Post-Effective Amendment No.12, filed on April 2, 2009 (File Nos. 333-119656 and 811-08664).

i.
Specimen of the Reduced Administration Charge Endorsement (7536 09/09), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 71, filed on September 24, 2009 (File Nos. 333-70472 and 811-08664).

j.
Specimen of the [2%] Contract Enhancement Endorsement (7567 12/09), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 80, filed on April 30, 2010 (File Nos. 333-70472 and 811-08664).

k.
Specimen of the [3%] Contract Enhancement Endorsement (7568 12/09), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 80, filed on April 30, 2010 (File Nos. 333-70472 and 811-08664).

l.
Specimen of the [4%] Contract Enhancement Endorsement (7569 12/09), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 80, filed on April 30, 2010 (File Nos. 333-70472 and 811-08664).

m.
Specimen of the [5%] Contract Enhancement Endorsement (7570 12/09), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 80, filed on April 30, 2010 (File Nos. 333-70472 and 811-08664).

n.
Specimen of the Guaranteed Minimum Withdrawal Benefit With [5] Year Step-Up (SafeGuard Max) Endorsement (7633 05/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 80, filed on April 30, 2010 (File Nos. 333-70472 and 811-08664).

o.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit With [5%] Bonus and Annual Step-Up Endorsement (7640 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

p.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit With [5%] Bonus and Annual Step-Up to the Highest Quarterly Contract Value Endorsement (7641 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

q.
Specimen of Joint For Life Guaranteed Minimum Withdrawal Benefit With [5%] Bonus and Annual Step-Up Endorsement (7642 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

r.
Specimen of Joint For Life Guaranteed Minimum Withdrawal Benefit With [5%] Bonus and Annual Step-Up to the Highest Quarterly Contract Value Endorsement (7643 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

s.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit With [6%] Bonus and Annual Step-Up Endorsement (7646 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

t.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit With [6%] Bonus and Annual Step-Up to the Highest Quarterly Contract Value Endorsement (7647 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

u.
Specimen of Joint For Life Guaranteed Minimum Withdrawal Benefit With [6%] Bonus and Annual Step-Up Endorsement (7648 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

v.
Specimen of Joint For Life Guaranteed Minimum Withdrawal Benefit With [6%] Bonus and Annual Step-Up to the Highest Quarterly Contract Value Endorsement (7649 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

w.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit With [6%] Bonus, Annual Step-Up and Death Benefit Endorsement (7650 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

x.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit With [7%] Bonus and Annual Step-Up Endorsement (7652 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

y.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit With [7%] Bonus and Annual Step-Up to the Highest Quarterly Contract Value Endorsement (7653 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

z.
Specimen of Joint For Life Guaranteed Minimum Withdrawal Benefit With [7%] Bonus and Annual Step-Up Endorsement (7654 10/10), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 88, filed on October 5, 2010 (File Nos. 333-70472 and 811-08664).

aa.
Specimen of [5%] Guaranteed Minimum Withdrawal Benefit with Annual Step-Up Endorsement (AutoGuard 5) (7659 05/11), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 91, filed on January 18, 2011 (File Nos. 333-70472 and 811-08664).

bb.
Specimen of [6%] Guaranteed Minimum Withdrawal Benefit with Annual Step-Up Endorsement (AutoGuard 6) (7660 05/11), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 91, filed on January 18, 2011 (File Nos. 333-70472 and 811-08664).

cc.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit with Annual Step-Up and Transfer of Assets Endorsement (Jackson Select Protector) (7667 05/11), incorporated herein by reference to the Registrant's Post-Effective Amendment No. 91, filed on January 18, 2011 (File Nos. 333-70472 and 811-08664).

dd.
Specimen of Guaranteed Minimum Withdrawal Benefit for Stretch RMDs Endorsement (MarketGuard Stretch) (7668 04/12), incorporated herein by reference to the Registrant's Pre-Effective Amendment No. 1, filed on April 24, 2012 (File Nos. 333-178774 and 811-08664).

ee.
Specimen of For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount Endorsement (LifeGuard Freedom 6 Net) (7669 04/12), incorporated herein by reference to the Registrant's Pre-Effective Amendment No. 1, filed on April 24, 2012 (File Nos. 333-178774 and 811-08664).

ff.
Specimen of Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up and Earnings-Sensitive Withdrawal Amount Endorsement (LifeGuard Freedom 6 Net with Joint Option) (7670 04/12), incorporated herein by reference to the Registrant's Pre-Effective Amendment No. 1, filed on April 24, 2012 (File Nos. 333-178774 and 811-08664).

gg.
Specimen of the [5%] Roll-Up Guaranteed Minimum Death Benefit Endorsement (7596 04/12), incorporated herein by reference to the Registrant's Pre-Effective Amendment No. 1, filed on April 24, 2012 (File Nos. 333-178774 and 811-08664).

hh.
Specimen of the Combination [5%] Roll-Up and Highest Quarterly Anniversary Value Guaranteed Minimum Death Benefit Endorsement (7597 04/12), incorporated herein by reference to the Registrant's Pre-Effective Amendment No. 1, filed on April 24, 2012 (File Nos. 333-178774 and 811-08664).

ii.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [5]% Bonus And Annual Step-Up Endorsement (7700 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

jj.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [6]% Bonus And Annual Step-Up Endorsement (7701 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

kk.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [7]% Bonus And Annual Step-Up Endorsement (7702 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

ll.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [5]% Bonus And Annual Step-Up To The Highest Quarterly Contract Value Endorsement (7704 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

mm.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [6]% Bonus And Annual Step-Up To The Highest Quarterly Contract Value Endorsement (7705 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

nn.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [7]% Bonus And Annual Step-Up To The Highest Quarterly Contract Value Endorsement (7706 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

oo.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With [5]% Bonus And Annual Step-Up Endorsement (7707 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

pp.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With [6]% Bonus And Annual Step-Up Endorsement (7708 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

qq.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With [7]% Bonus And Annual Step-Up Endorsement (7709 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

rr.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With [5]% Bonus And Annual Step-Up To The Highest Quarterly Contract Value Endorsement (7710 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

ss.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With [6]% Bonus And Annual Step-Up To The Highest Quarterly Contract Value Endorsement (7711 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

tt.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [6]% Bonus, Annual Step-Up And Death Benefit Endorsement (7712 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

uu.
Form of For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount Endorsement (7713 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

vv.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount Endorsement (7714 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

ww.
Form of Guaranteed Minimum Withdrawal Benefit Endorsement (7678 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 1, filed on January 18, 2013 (File Nos. 333-183048 and 811-08664).

xx.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [5]% Bonus And Annual Step-Up Endorsement (7700 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).

yy.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [6]% Bonus And Annual Step-Up Endorsement (7701 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).

zz.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [7]% Bonus And Annual Step-Up Endorsement (7702 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).

aaa.
Form of For Life Guaranteed Minimum Withdrawal Benefit With [6]% Bonus, Annual Step-Up And Death Benefit Endorsement (7712 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).

bbb.
Form of For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount Endorsement (7713 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).

ccc.
Form of Guaranteed Minimum Withdrawal Benefit Endorsement (7678 04/13), incorporated herein by reference to Registrant's Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).

ddd.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With [5]% Bonus And Annual Step-Up Endorsement (7707), incorporated herein by reference to Registrant's Post-Effective Amendment No. 8, filed on September 12, 2013 (File Nos. 333-183048 and 811-08664).

eee.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With [6]% Bonus And Annual Step-Up Endorsement (7708), incorporated herein by reference to Registrant's Post-Effective Amendment No. 8, filed on September 12, 2013 (File Nos. 333-183048 and 811-08664).

fff.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With [7]% Bonus And Annual Step-Up Endorsement (7709), incorporated herein by reference to Registrant's Post-Effective Amendment No. 8, filed on September 12, 2013 (File Nos. 333-183048 and 811-08664).

ggg.
Form of Joint For Life Guaranteed Minimum Withdrawal Benefit With Bonus, Annual Step-Up And Earnings-Sensitive Withdrawal Amount Endorsement (7714), incorporated herein by reference to Registrant's Post-Effective Amendment No. 8, filed on September 12, 2013 (File Nos. 333-183048 and 811-08664).

5.

a.
Form of the Perspective II Variable and Fixed Annuity Application (V620 04/12), incorporated herein by reference to the Registrant's Pre-Effective Amendment No. 1, filed on April 24, 2012 (File Nos. 333-178774 and 811-08664).

b.
Form of the Variable and Fixed Annuity Application (V3573 04/12), incorporated herein by reference to the Registrant's Pre-Effective Amendment No. 1, filed on April 24, 2012 (File Nos. 333-178774 and 811-08664).

6.

a.
Articles of Incorporation of Depositor, incorporated herein 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 herein by reference to the Registrant's Post-Effective Amendment No. 3 filed on April 30, 1996 (File Nos. 033-82080 and 811-08664).

c.
Amended By-laws of Jackson National Life Insurance Company, incorporated herein by reference to the Registration Statement, filed on December 31, 2012 (File Nos. 333-185768 and 811-04405).

7. Not Applicable.

8. Amended and Restated Administrative Services Agreement between Jackson National Asset Management, LLC and Jackson National Life Insurance Company, incorporated herein by reference to Registrant's Post-Effective Amendment No. 4, filed on April 23, 2013 (File Nos. 333-183048 and 811-08664).

9. Opinion and Consent of Counsel, attached hereto.

10. Consent of Independent Registered Public Accounting Firm, attached hereto.

11. Not Applicable.

12. Not Applicable.

Item 25. Directors and Officers of the Depositor

Name and Principal Business Address
Positions and Offices with Depositor
   
Richard D. Ash
Senior Vice President, Chief Actuary & Appointed Actuary
1 Corporate Way
  
Lansing, MI 48951
  
   
Steve P. Binioris
Senior Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Michele M. Binkley
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Dennis A. Blue
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Barrett M. Bonemer
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Pamela L. Bottles
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
David L. Bowers
Vice President
300 Innovation Drive
  
Franklin, TN 37067
  
   
John H. Brown
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Gregory P. Cicotte
Executive Vice President, Head of U.S. Wealth Management and Distribution
7601 Technology Way
  
Denver, CO 80237
  
   
David A. Collins
Vice President & Deputy Chief Risk Officer
1 Corporate Way
  
Lansing, MI 48951
  
   
Michael A. Costello
Senior Vice President, Treasurer & Controller
1 Corporate Way
  
Lansing, MI 48951
  
   
James B. Croom
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
William Devanney
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Charles F. Field, Jr.
Vice President
300 Innovation Drive
  
Franklin, TN 37067
  
   
Dana R. Malesky Flegler
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Devkumar D. Ganguly
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Julia A. Goatley
Senior Vice President, Chief Compliance & Governance Officer
1 Corporate Way
& Assistant Secretary
Lansing, MI 48951
  
   
Guillermo E. Guerra
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
John K. Haack
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   

Robert W. Hajdu
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Laura L. Hanson
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Robert L. Hill
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Thomas P. Hyatte
Senior Vice President, Chief Risk Officer & Director
1 Corporate Way
  
Lansing, MI 48951
  
   
Thomas A. Janda
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Scott Klus
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Toni L. Klus
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Leandra R. Knes
Director
225 W. Wacker Drive
  
Suite 1200
  
Chicago, IL 60606
  
   
Richard C. Liphardt
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Machelle A. McAdory
Senior Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Diahn M. McHenry
Vice President
5913 Executive Drive
  
Lansing, MI 48911
  
   
Thomas J. Meyer
Senior Vice President,
1 Corporate Way
General Counsel & Secretary
Lansing, MI 48951
  
   
Dean M. Miller
Vice President
300 Connell Drive
  
Suite 2100
  
Berkeley Heights, NJ 07922
  
   
Keith R. Moore
Senior Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Jacky Morin
Vice President
300 Connell Drive
  
Suite 2100
  
Berkeley Heights, NJ 09722
  
   
P. Chad Myers
Executive Vice President, Chief Financial Officer & Director
1 Corporate Way
  
Lansing, MI 48951
  
   
Russell E. Peck
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Laura L. Prieskorn
Senior Vice President & Chief Administration Officer
1 Corporate Way
  
Lansing, Michigan 48951
  
   
Dana S. Rapier
Vice President
5913 Executive Drive
  
Lansing, MI 48911
  
   
Stacey L. Schabel
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
William R. Schulz
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Muhammad S. Shami
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
James R. Sopha
Chief Operating Officer & Director
1 Corporate Way
  
Lansing, MI 48951
  
   
Kenneth H. Stewart
Senior Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Heather R. Strang
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Marcia L. Wadsten
Vice President
1 Corporate Way
  
Lansing, MI 48951
  
   
Bonnie G. Wasgatt
Senior Vice President & Chief Information Officer
1 Corporate Way
  
Lansing, MI 48951
  
   
Michael A. Wells
President, Chief Executive Officer & Chairman
300 Innovation Drive
  
Franklin, TN 37067
  

Item 26. Persons Controlled by or Under Common Control with the Depositor or Registrant.

The Registrant is a separate account of Jackson National Life Insurance Company ("Depositor"), a stock life insurance company organized under the laws of the state of Michigan.  The Depositor is a wholly owned subsidiary of Brooke Life Insurance Company and is ultimately a wholly owned subsidiary of Prudential plc (London, England), a publicly traded life insurance company in the United Kingdom.

The following organizational chart for Prudential plc indicates those persons who are controlled by or under common control with the Depositor. No person is controlled by the Registrant.

The organizational chart for Prudential plc is incorporated herein by reference to Exhibit 26 of Post-Effective Amendment No. 19, filed on April 20, 2015 (File Nos. 333-183048 and 811-08664).

Item 27. Number of Contract Owners as of February 18, 2015

Perspective II Contracts:

Qualified – 307,408
Non-Qualified – 143,807

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 IV, the Jackson National Separate Account V, the JNLNY Separate Account I, the JNLNY Separate Account II, the JNLNY Separate Account IV, the Jackson Sage Variable Annuity Account A, the Jackson Sage Variable Life Account A, the Jackson SWL Variable Annuity Fund I, the JNL Series Trust, JNL Variable Fund LLC, JNL Investors Series Trust, and Curian Variable Series Trust.

b)
Directors and Officers of Jackson National Life Distributors LLC:

Name and Business Address
Positions and Offices with Underwriter
   
Greg Cicotte
Manager
7601 Technology Way
  
Denver, CO  80237
  
   

Michael A. Costello
Manager
1 Corporate Way
  
Lansing, MI 48951
  
   
Thomas P. Hyatte
Manager
1 Corporate Way
  
Lansing, MI 48951
  
   
Thomas J. Meyer
Manager & Secretary
1 Corporate Way
  
Lansing, MI 48951
  
   
Stephen M. Ash
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Jeffrey Bain
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Brad Baker
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Tori Bullen
Senior Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Richard Catts
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Maura Collins
Executive Vice President, Chief Financial Officer & FinOP
7601 Technology Way
  
Denver, CO 80237
  
   
Christopher Cord
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Julia A. Goatley
Assistant Secretary
1 Corporate Way
  
Lansing, MI 48951
  
   
Mark Godfrey
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Luis Gomez
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Kevin Grant
Senior Vice President
7601 Technology Way
  
Denver, CO 80237
  
   

Elizabeth Griffith
Vice President
300 Innovation Drive
  
Franklin, TN 37067
  
   
Kelli Hill
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Thomas Hurley
Senior Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Mark Jones
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Doug Mantelli
Senior Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Jennifer Meyer
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Steven O'Connor
Vice President
7601 Technology Way
  
Denver, CO  80237
  
   
Allison Pearson
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
John Poulsen
Executive Vice President, Sales Strategy
1640 Powers Ferry Road
  
Bldg. 20
  
Marietta, GA 30067
  
   
Jeremy D. Rafferty
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Alison Reed
Executive Vice President, Operations
7601 Technology Way
  
Denver, CO 80237
  
   
Kristan L. Richardson
Assistant Secretary
1 Corporate Way
  
Lansing, MI 48951
  
   
Scott Romine
President & Chief Executive Officer
7601 Technology Way
  
Denver, CO  80237
  
   
Kezia Samuel
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   

Marilynn Scherer
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Kathleen Schofield
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Marc Socol
Executive Vice President, National Sales Manager
7601 Technology Way
  
Denver, CO 80237
  
   
Melissa Sommer
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Daniel Starishevsky
Senior Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Ryan Strauser
Vice President
7601 Technology Way
  
Denver, VO 80237
  
   
Brian Sward
Senior Vice President
7601 Technology Way
  
Denver, CO  80237
  
   
Jeremy Swartz
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Robin Tallman
Vice President & Controller
7601 Technology Way
  
Denver, CO 80237
  
   
Katie Turner
Vice President
7601 Technology Way
  
Denver, CO  80237
  
   
Brad Whiting
Vice President
7601 Technology Way
  
Denver, CO 80237
  
   
Daniel Wright
Senior Vice President & Chief Compliance Officer
7601 Technology Way
  
Denver, CO 80237
  
   
Phil Wright
Vice President
7601 Technology Way
  
Denver, CO 80237
  


(c)

Name of Principal Underwriter
Net Underwriting           Discounts and Commissions
Compensation on Redemption or               Annuitization
Brokerage Commissions
Compensation
 
Jackson National Life           Distributors LLC
 
Not Applicable
 
Not Applicable
 
Not Applicable
 
Not Applicable

Item. 30. Location of Accounts and Records

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

Jackson National Life Insurance Company
Institutional Marketing Group Service Center
1 Corporate Way
Lansing, Michigan 48951

Jackson National Life Insurance Company
7601 Technology Way
Denver, Colorado 80237

Jackson National Life Insurance Company
225 West Wacker Drive, Suite 1200
Chicago, IL  60606

Item. 31. Management Services

Not Applicable.

Item. 32. Undertakings and Representations

a)
Jackson National Life Insurance Company 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 the Registration Statement to be signed on its behalf, in the City of Lansing, and State of Michigan, on this 21st day of April, 2015.

Jackson National Separate Account - I
(Registrant)

Jackson National Life Insurance Company


By:   /s/ THOMAS J. MEYER                                                                                                  
Thomas J. Meyer
Senior Vice President, General Counsel
and Secretary

Jackson National Life Insurance Company
(Depositor)


By:    /s/ THOMAS J. MEYER                                                                                                  
Thomas J. Meyer
Senior Vice President, General Counsel
and Secretary

As required by the Securities Act of 1933, this post-effective amendment to the Registration Statement has been signed by the following persons in the capacities and on the dates indicated.


   
*                                                                                    
April 21, 2015
Michael A. Wells, President, Chief
  
Executive Officer, Director and Chairman
  
   
   
   
*                                                                                    
April 21, 2015
James R. Sopha, Chief Operating Officer
  
and Director
  
   
   
   
*                                                                                    
April 21, 2015
P. Chad Myers, Executive Vice President,
Chief Financial Officer and Director
  
   
   
   
*                                                                                    
April 21, 2015
Michael A. Costello, Senior Vice President,
  
Treasurer and Controller
  

   
   
   
*                                                                                    
April 21, 2015
Leandra R. Knes, Director
  
   
   
   
*                                                                                    
April 21, 2015
Thomas P. Hyatte, Senior Vice President,
Chief Risk Officer and Director
  


* By:    /s/ THOMAS J. MEYER                                                                                                  
Thomas J. Meyer, as Attorney-in-Fact,
pursuant to Power of Attorney filed herewith.

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 appoint Michael A. Wells, P. Chad Myers, Thomas J. Meyer, Susan S. Rhee, and Anthony L. Dowling (each with power to act without the others) his/her attorney-in-fact and agent, with full power of substitution and resubstitution, for and in his/her name, place and stead, in any and all capacities, to sign applications and registration  statements,  and any and all amendments, with power to affix the corporate seal and to attest it, and to file the applications, registration statements, and amendments, with all exhibits and  requirements, in accordance with the Securities Act of 1933, the Securities and Exchange Act of 1934, and/or the Investment Company Act of 1940.  This Power of Attorney concerns Jackson National Separate Account - I (File Nos. 033-82080, 333-70472, 333-73850, 333-118368, 333-119656, 333-132128, 333-136472, 333-155675, 333-172874, 333-172875, 333-172877, 333-175718, 333-175719, 333-176619, 333-178774, 333-183048, 333-183049, 333-183050, and 333-192971), Jackson National Separate Account III (File No. 333-41153), Jackson National Separate Account IV (File Nos. 333-108433 and 333-118131), and Jackson National Separate Account V (File No. 333-70697), as well as any future separate account(s) and/or future file number(s) within any separate account(s) that the Depositor establishes through which securities, particularly variable annuity contracts and variable universal life insurance policies, are to be offered for sale.  The undersigned grant to each attorney-in-fact and agent full authority to take all necessary actions to effectuate the above as fully, to all intents and purposes, as he/she could do in person, thereby ratifying and confirming all that said attorneys-in-fact and agents, or any one of them, may lawfully do or cause to be done by virtue hereof.  This instrument may be executed in one or more counterparts.

IN WITNESS WHEREOF, the undersigned have executed this Power of Attorney effective as of the 28th day of October, 2014.

/s/  MICHAEL A. WELLS
_____________________________________________
Michael A. Wells, President, Chief Executive Officer,
Chairman and Director

/s/  JAMES R. SOPHA
_____________________________________________
James R. Sopha, Chief Operating Officer and Director

/s/  P. CHAD MYERS
_____________________________________________
P. Chad Myers, Executive Vice President, Chief Financial
Officer and Director

/s/  THOMAS P. HYATTE
_____________________________________________
Thomas P. Hyatte, Senior Vice President, Chief Risk
Officer and Director

/s/  MICHAEL A. COSTELLO
_____________________________________________
Michael A. Costello, Senior Vice President, Treasurer
and Controller

/s/  LEANDRA R. KNES
_____________________________________________
Leandra R. Knes, Director




EXHIBIT LIST

Exhibit No.                          Description


9. Opinion and Consent of Counsel.

10. Consent of Independent Registered Public Accounting Firm.