Jackson National Life Insurance Company announced recently the launch of a tax-deferral caluclator to expand its lineup of online tools to help advisors.

“The tool allows advisors to clearly see the benefits of tax deferral and of potentially using an annuity,” said Tim Munsie, head of RIA, Platform Distribution and Planning for Jackson National Life Distributors. “It allows them to bring in some of the unique information which really shapes what their individual tax picture looks like.”

The calculator provides a comprehensive and tailored view of what an individual's plan looks like if it includes tax-deferred options such as annuities. Using the tool, an advisor can compare the accumulation values and after-tax withdrawals of an investment taxed annually versus deferring the tax until withdrawals occur, the firm said.

It can also provide a variety of scenarios based on the circumstance of the client such as if they are an individual or an organization. Finally, the tool is fully customizable as it offers a snapshot of a client's portfolio throughout various stages of life, according to Jackson.

“This tool is a new frontier for Jackson to be able to provide what used to be really general high-level analyses now at much more of a unique level to take into account some of the really unique aspects of an individual’s tax situation which … is unique to all of us,” Munsie said.

Jackson is working with FinMason, a Boston-based financial technology, investment data and analytics firm, which is helping Jackson create a more user-friendly report for advisors to present to their clients, according to Munsie.

“They’re able to generate a client-friendly report that is compliance-approved to help communicate that story in a way that is simple but also sophisticated,” he said. “[We want to] bring that in a way where we can give [clients] a really comprehensive view on what the benefits of a tax-deferral would look like.”

The calculator does not specifically focus on Jackson products but serves as a tool that focuses on investment styes rather than products, according to Munsie.

“It’s really carrier agnostic [and] it’s the benefit of a core value of an annuity,” he said.  Before you can earn the right to say why our product is suitable, we need to make sure they understand why annuities make sense for their clients and that’s really the consultative approach that we take when working with fiduciaries.” 

The calculator is currently live and available on Jackson’s public platform, Munsie said. There is no fee associated with using it.