Jackson National Life Insurance Company has introduced Jackson Policy Preserver, a new rider designed to help advisers and their clients prevent a policy from lapsing if the policy's loan value exceeds the accumulated cash value.

Jackson said that Policy Preserver is available at no additional charge within one of its universal life (UL) and three of its variable universal life (VUL) insurance products.

For newly-issued, qualifying policies, Jackson will automatically attach Policy Preserver to the base policy at no charge. The company will also attach the rider to existing, in-force policies.

Jackson’s Policy Preserver rider is available on Jackson Accumulator UL, Perspective Investor VUL, Ultimate Investor VUL, and JNL Advisor VUL.

Ray Trueblood, vice president of life marketing strategy business at Jackson National Life Distributors, said: Jackson’s UL and VUL products are designed with the flexibility to help boomers focus on generating cash values for asset accumulation purposes and obtain the protection that only life insurance can provide.