Jefferson National

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Jefferson National Life Insurance Company
Private
IndustryFinancial Services and Retirement
HeadquartersLouisville, Kentucky, USA
Key people
David Smilow, Chairman
Laurence P. Greenberg, President and CEO
David Lau, COO
ProductsAnnuities, Retirement products
Websitewww.jeffnat.com
 
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Jefferson National Life Insurance Company
Private
IndustryFinancial Services and Retirement
HeadquartersLouisville, Kentucky, USA
Key people
David Smilow, Chairman
Laurence P. Greenberg, President and CEO
David Lau, COO
ProductsAnnuities, Retirement products
Websitewww.jeffnat.com

Jefferson National Life Insurance Company provides retirement products (variable annuities) for fee-based and fee-only advisers and their clients. Jefferson National currently serves more than 60,000 customers nationwide and is licensed to sell annuities in 49 states and the District of Columbia (Referral needed).

Privately held and domiciled in Dallas, Texas, with operations in Louisville, Kentucky and offices in New York City.

History[edit]

Jefferson National was originally founded in 1937 in Indianapolis, Indiana. In 1990 the company was purchased by Conseco, and was renamed Conseco Variable Insurance Company. The company was purchased in a management buyout from Conseco by the current management team in October 2002 with backing from Trimaran Capital Partners. Following the acquisition, the Jefferson National name was restored. Jefferson National specializes in multi-manager annuities to serve fee-based and fee-only advisors and consumers.

Controversial CEO[edit]

CEO Mitch Caplan is the former CEO of ETrade. During the credit crisis of 2007, Caplan was criticized for investing in risky and complex debt instruments. He was fired by E-Trade on November 29, 2007. The Huffiington Post reported Caplan nearly bankrupted the company and could face possible jail time.[1] Fortunately for Caplan, he not only avoided jail time but he was also given $11,000,000 in severance pay, infuriating investors in the company he nearly destroyed.[2]

Monument Advisor[edit]

In 2005, Jefferson National launched Monument Advisor, the first no-load variable annuity with a flat insurance fee. The company claims this product saves customers an average of $2000 in annual insurance charges.[citation needed]

References[edit]

External links[edit]