Goldstein Scorecard: B (dated October 4, 2026). See how it is graded.
Jackson MarketProtector Review: Caps, Surrender Charges and Contract Minimums
Written & reviewed by Hans Goldstein, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Facts verified against Jackson’s MarketProtector rate sheet (JMI19917F1 10/26), product overview (JMI19561 02/26) and AM Best on October 4, 2026 · Updated
Jackson MarketProtector is a fixed index annuity issued by Jackson National Life Insurance Company, sold with a 5- or 7-year withdrawal charge period. On Jackson’s rate sheet effective October 5, 2026, the 5-year S&P 500 annual cap is 7.75% (8.80% at $100,000 and up), the fixed account pays 3.70%, and the contract minimum cap is 1.00%. Minimum premium is $25,000. AM Best rates Jackson National Life A (Excellent).
Correction (October 4, 2026): an earlier version of this page was titled “Jackson MarketGrowth FIA.” Jackson does not sell a product by that name: its fixed index annuity lineup lists Jackson Income Assurance 7 and 10 (and Advisory versions) and the MarketProtector family. This page now reviews Jackson MarketProtector, the accumulation product the old page described, from Jackson’s rate sheet and product overview. The old S&P, Moody’s, Fitch, Weiss, KBRA and COMDEX scores, the service and renewal “tiers” and the star rating were removed because they could not be verified at a primary source.
What MarketProtector is
MarketProtector is an individual modified single premium deferred fixed annuity with index-linked interest and a market value adjustment (contract forms FIA260, ICC19 FIA260, FIA260-CB2, ICC20 FIA260-CB2), issued by Jackson National Life Insurance Company of Lansing, Michigan. You put money in the fixed account, in index options linked to the S&P 500 or MSCI EAFE, or both. Each indexed option year Jackson credits interest by one of three methods: an annual cap, a performance trigger (a set rate if the index is flat or up), or a participation rate minus a spread. Index losses are not credited. Withdrawal charges and the MVA can still reduce what you receive if you leave early.
Jackson’s lineup shows three related versions. MarketProtector Advisory is the fee-based version sold through advisors, with its own rate sheet and a 10-year option. MarketProtector III and MarketProtector Advisory III are versions with their own fact sheets; the MarketProtector III rate sheet carries higher contract minimums (2.00% for the 5-year period, 3.00% for 7 and 10 years). Ask which version you are being shown, because the minimums differ.
MarketProtector rates effective October 5, 2026
| Option (annual reset point to point) | 5-year: under $100k | 5-year: $100k+ | 7-year: under $100k | 7-year: $100k+ |
|---|---|---|---|---|
| S&P 500 cap | 7.75% | 8.80% | 7.90% | 8.90% |
| S&P 500 performance trigger | 6.75% | 7.50% | 6.85% | 7.55% |
| S&P 500 participation rate / spread | 62% / 2.00% | 67% / 2.00% | 63% / 2.00% | 67% / 2.00% |
| MSCI EAFE cap | 8.45% | 9.80% | 8.60% | 9.90% |
| MSCI EAFE performance trigger | 7.00% | 7.80% | 7.05% | 7.85% |
| MSCI EAFE participation rate / spread | 66% / 2.00% | 73% / 2.00% | 67% / 2.00% | 73% / 2.00% |
| Fixed account interest rate | 3.70% | 4.00% | 3.95% | 4.25% |
The 10-year option shows “N/A” on this rate sheet. For the fee-based version, Jackson’s MarketProtector Advisory rate sheet (JMI19917AF1 10/26) shows S&P 500 caps of 9.10%, 9.35% and 9.45% for the 5-, 7- and 10-year periods under $100,000 (10.15%, 10.40% and 10.50% at $100,000 and up), and fixed account rates of 4.30%, 4.65% and 4.70%, effective October 5, 2026. An advisory fee charged by your advisor is separate from the contract.
Contract minimums: the numbers that protect you after year one
| Contract minimum | MarketProtector and MarketProtector Advisory | MarketProtector III |
|---|---|---|
| Minimum annual cap | 1.00% (5-year), 1.05% (7-year), 1.10% (10-year) | 2.00% (5-year), 3.00% (7- and 10-year) |
| Minimum performance trigger rate | 1.00% (5-year), 1.05% (7-year), 1.10% (10-year) | 2.00% (5-year), 3.00% (7- and 10-year) |
| Minimum participation rate | 10% | Not offered on the III rate sheet |
| Maximum spread | 10% | Not offered on the III rate sheet |
| Fixed account minimum interest rate | 2.40% for contracts issued now; Jackson declares it each calendar year between 1% and 3%, and it does not change once your contract is issued | |
Read the gap between the current and the minimum numbers. A 7.75% cap today can be reset at any indexed option anniversary to as low as 1.00% on the 5-year MarketProtector. The participation-with-spread option can fall to 10% participation with a 10% spread, which would credit nothing unless the index rose more than 100%. Jackson has the right to do that; whether it will is unknown, so price the contract on the minimums, not on today’s rates.
Contract basics
| Item | MarketProtector |
|---|---|
| Withdrawal charges, 5-year option (completed years 0 to 5) | 9.00%, 8.25%, 7.25%, 6.50%, 5.50%, then 0% |
| Withdrawal charges, 7-year option (completed years 0 to 7) | 9.00%, 8.25%, 7.25%, 6.50%, 5.50%, 4.50%, 3.75%, then 0% |
| Market value adjustment | Yes, on certain amounts withdrawn or annuitized during the indexed option period; can raise or lower the amount; may not apply in all states |
| Free withdrawal | Up to 10% of accumulation value (set at the start of the contract year) each contract year, free of withdrawal charges and MVA; unused amounts do not carry over |
| RMDs | RMDs from this contract can be taken free of withdrawal charges and MVA, even above 10% |
| Minimum single premium | $25,000; additional premium ($500 minimum) only in the first contract year |
| Issue age / maturity age | Up to 85 / 95 |
| Guaranteed minimum value | 87.5% of premium accumulated at the contract’s minimum interest rate, adjusted for withdrawals; a full withdrawal is never less than this |
| Included waivers | Extended care (90 consecutive days in a nursing home or hospital) and terminal illness: up to 100% of value without withdrawal charge, once, after the first contract anniversary, limited to $250,000; MVA may apply |
| Optional income rider | IncomeAccelerator: 1.10% a year single life, 1.25% joint; Jackson may raise it by up to 0.20% on each fifth indexed option anniversary, to a maximum of 2.20% (2.50% joint) |
To see what an early exit would cost on your own amount, use the annuity surrender charge calculator. To project growth at a cap or fixed rate you choose, use the annuity calculator. If you are weighing the IncomeAccelerator rider, compare it with plain annuitization in the income rider vs annuitization calculator.
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Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | A | AM Best Financial Strength Rating A (Excellent), stable, affirmed December 18, 2025 |
| Rate or cap competitiveness | C | 5-year fixed account 3.70% (4.00% at $100k+) vs 5-year MYGAs from A-rated-or-better insurers at about 5.80% to 6.00% on September 24, 2026; 5-year S&P 500 cap 7.75% |
| Guaranteed floor | C | Minimum cap 1.00% (5-year), minimum participation 10%, maximum spread 10%; fixed account minimum 2.40% for new issues |
| Liquidity | B | 5- or 7-year charge, 9.00% in year 1; 10% free each year; RMDs free; MVA applies |
| Costs | A- | No annual contract fee in the base contract; optional IncomeAccelerator 1.10% (single) or 1.25% (joint) |
| Transparency | A | Public, dated rate sheets with contract minimums and full withdrawal charge schedules |
| Guaranteed minimum cap | 1.00% / 1.05% / 1.10% | Annual reset point-to-point cap for the 5-, 7- and 10-year option periods, Jackson MarketProtector rate sheet jmi19917f1 (checked October 4, 2026). MarketProtector III (Morgan Stanley): 2.00% (5-year) or 3.00% (7- and 10-year), MarketProtector III rate sheet jmi19917ms1. |
| Minimum participation rate | 10% | All indexed option periods, Jackson MarketProtector rate sheet jmi19917f1. |
| Maximum spread | 10% | All indexed option periods, Jackson MarketProtector rate sheet jmi19917f1. |
| Overall | B | Strong insurer and clear disclosure; low contract minimums and a fixed account well below the MYGA benchmark |
How these contract minimums compare across products: guaranteed minimum caps across FIAs (October 2026).
Pros and cons
Pros
- Short terms for an FIA: 5 or 7 years, with charges gone after the term.
- Jackson publishes current caps, triggers and participation rates with an effective date, plus the contract minimums.
- 10% free withdrawal each year, and RMDs from the contract are free of charges and MVA.
- Index losses are not credited, and the guaranteed minimum value (87.5% of premium at the minimum interest rate) sets a floor on a full withdrawal.
- Higher rates at $100,000 and up (for example, 8.80% vs 7.75% on the 5-year S&P 500 cap).
Cons
- The 1.00% minimum cap and 10% minimum participation leave a wide gap below today’s rates.
- The fixed account (3.70% on the 5-year) pays well under the 5-year MYGA benchmark.
- An MVA applies to early withdrawals above the free amount in most states.
- Only two indexes (S&P 500 and MSCI EAFE), and premium is accepted only in the first contract year.
Who it’s for, and when to look elsewhere
Fits: someone who wants index-linked interest with no index losses credited, a 5- or 7-year commitment, and a large, A-rated insurer, and who is comfortable that the cap can reset each year down to the contract minimum.
Look elsewhere if: you mainly want a known rate. A MYGA locks a declared rate for the whole term. For comparison, A-rated-or-better insurers were paying about 5.80% to 6.00% on 5-year MYGAs and the best nationally available 5-year CDs about 4.35% to 4.50% APY on September 24, 2026 (AnnuityRateWatch carrier data; DepositAccounts). Current rates: MYGA rates. Also look elsewhere if you may need more than 10% a year in the first 5 to 7 years.
Questions to ask your agent
- Which version is this (MarketProtector, Advisory, III or Advisory III), and what are its guaranteed minimum cap, trigger rate, participation rate and maximum spread, in writing?
- What is the full surrender (withdrawal charge) schedule by year in my state, and how does the MVA work if rates rise?
- Does my premium qualify for the $100,000-and-up rates, and when would the higher rates stop applying?
- What fixed account minimum interest rate is locked into my contract (currently 2.40% on new issues)?
- How are you paid on this product? Commission comes from Jackson, is built into pricing and is not deducted from premium; ask the percentage and whether the 7-year option pays more than the 5-year. See how annuity commissions work.
From my desk
When I review a MarketProtector illustration, I go first to the rate sheet footnote, not the rate table. The footnote is where Jackson states the 1.00% minimum cap, the 10% minimum participation rate and the 10% maximum spread, and those are the only crediting numbers the contract promises after the first indexed option year. I also check which version is on the application, because MarketProtector III carries 2.00% and 3.00% minimum caps instead of 1.00%.
The number buyers most often misread on this product type is the cap. A 7.75% cap is a ceiling for one year, not an expected return; in a year the S&P 500 is flat or down, the cap option credits 0%. The performance trigger (6.75% on the 5-year) is easier to read: if the index ends the year flat or up, that rate is credited.
To compare with a MYGA, I put the MYGA’s declared rate next to MarketProtector’s fixed account and the minimums. Hypothetical: on $100,000 for 5 years, a MYGA declared at 5.80% would grow to about $132,600 before tax; MarketProtector would need index credits averaging close to that every year to keep pace, with a cap that can be reset lower. If that trade does not appeal, the MYGA is usually the simpler answer. For a second set of eyes on a quote, see annuity second opinion.
About Hans Goldstein: independent licensed insurance producer. CA Life License #4273294. NPN #20602398. Phone: 213-414-2808. Email: hans@hansgoldstein.com.
Related reviews
- Jackson Elite Access II review (Jackson’s variable annuity, a different product type)
- How annuity crediting actually works (caps, triggers, participation rates and spreads)
- FIA cap rates in 2026
- Are annuities FDIC insured? (state guaranty limits)
Frequently asked questions
Q: Is there a Jackson MarketGrowth annuity?
A: No. Jackson’s fixed index annuity lineup, checked October 4, 2026, lists Jackson Income Assurance 7 and 10 (with Advisory versions) and MarketProtector, MarketProtector Advisory, MarketProtector III and MarketProtector Advisory III. There is no product named MarketGrowth. The accumulation FIA from Jackson is MarketProtector, reviewed on this page.
Q: What is the current MarketProtector S&P 500 cap?
A: 7.75% on the 5-year option and 7.90% on the 7-year option for premium under $100,000 (8.80% and 8.90% at $100,000 and up), effective October 5, 2026, per Jackson’s rate sheet. Rates are declared each indexed option year.
Q: What is the minimum cap on MarketProtector?
A: 1.00% for the 5-year period, 1.05% for 7 years and 1.10% for 10 years. On MarketProtector III it is 2.00% for 5 years and 3.00% for 7 and 10 years.
Q: What are the MarketProtector withdrawal charges?
A: On the 5-year option: 9.00%, 8.25%, 7.25%, 6.50%, 5.50%, then 0%. On the 7-year option: 9.00%, 8.25%, 7.25%, 6.50%, 5.50%, 4.50%, 3.75%, then 0%. An MVA can also apply. Up to 10% a year can be withdrawn free of both.
Q: What is the minimum premium for MarketProtector?
A: $25,000 single premium, with additional premium of at least $500 allowed only in the first contract year. Maximum issue age is 85.
Q: How is MarketProtector taxed?
A: Growth is tax-deferred. Earnings are taxed as ordinary income when withdrawn, and withdrawals before age 59½ may carry a 10% additional tax unless an exception applies.
Get a second opinion before you sign
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A fixed indexed annuity ties up your money for 7 to 15 years. Cap rates renew annually and can drop. Income riders have separate benefit bases that aren't cash. Get an independent review before you commit your retirement savings to a multi-year contract.
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Sources (checked October 4, 2026)
- Jackson, MarketProtector rates (JMI19917F1 10/26), rates effective October 5, 2026.
- Jackson, MarketProtector Advisory rates (JMI19917AF1 10/26), rates effective October 5, 2026.
- Jackson, MarketProtector III rates (JMI19917MS1 10/26), rates effective October 5, 2026.
- Jackson, MarketProtector product overview (JMI19561 02/26).
- Jackson, Fixed index annuities product lineup, checked October 4, 2026.
- AM Best, AM Best Upgrades Issuer Credit Ratings of Jackson National Life Insurance Company and Its Affiliates, December 18, 2025.
- MYGA and CD benchmark: AnnuityRateWatch carrier rate data and DepositAccounts, September 24, 2026.
Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.