Market Link Pro II (NY) review

Yes, for the right buyer — and only if you live in New York, since that is the only state where it is approved. It is a good fit for someone who wants index-linked accumulation with a defined buffer against losses and likes the flexibility of choosing terms, buffers, and indices. It is a poor fit for someone who wants true principal protection, since a buffer only absorbs part of a decline, or for anyone shopping mainly for guaranteed lifetime income.

The main reason to buy Market Link Pro II is to capture more index upside than a fully protected fixed indexed annuity allows, while still having a meaningful cushion against losses. The 10% or 20% buffer means the contract takes the first slice of any market decline, which lets Jackson offer higher caps and participation rates than a zero-loss design could. The secondary reason is structural flexibility — you can match the term length and buffer to your own time horizon and risk tolerance rather than accepting a single fixed structure.

I think Market Link Pro II is best for a New York resident in the accumulation phase who understands they are taking on partial market risk, wants growth potential beyond what a CD or fixed annuity offers, and does not need to touch the money during the surrender period. It works for both qualified and non-qualified money. It is less attractive for conservative buyers who cannot tolerate any principal loss, for people who need reliable liquidity, and for anyone whose primary goal is turning the contract into a guaranteed income stream — there is no income rider here.

You are not buying a principal-protected annuity, and you are not buying direct stock ownership. You are buying a contract whose return is tied to an index, with a defined buffer that absorbs the first portion of any loss and a cap or participation rate that limits the gain. If you choose a 10% buffer and the index falls 15%, you absorb the 5% beyond the buffer. If the index rises, you earn up to the cap or your participation share. That distinction matters: a RILA sits between a fixed indexed annuity, which protects all principal but caps growth tightly, and a variable annuity, which exposes you to full market risk. The "Pro II" trades some downside protection for higher growth ceilings.

The contract lets you allocate across several crediting methods and index strategies. You choose an index — S&P 500, Russell 2000, MSCI EAFE, MSCI Emerging Markets, or the MSCI KLD 400 Social Index — a term length of one, three, or six years, and a buffer of 10% or 20%. The crediting methods include annual point-to-point with a cap, term-end-point strategies with a cap or participation rate over three- or six-year terms, and an annual performance-triggered method that credits a declared rate whenever the index is flat or positive (offered on the 10% buffer only).

The practical effect is that each combination behaves differently. A higher buffer absorbs more loss but generally comes with a lower cap. A longer term can carry a much higher ceiling — Jackson's materials cite caps up to 400% on six-year terms and participation rates of 100% to 130% depending on index and term, as of April 6, 2026 — but you commit to that index over the full term. There is also a fixed account, currently crediting 3.00% with a guaranteed floor of 1% to 3%. Performance-lock features let you lock in an index value during or at the end of a term. These rate figures are snapshots and will change; ask for the current rate sheet before allocating.

The most meaningful secondary feature is the buffer choice itself. Many structured products give you a single protection level. Here, choosing between a 10% and 20% buffer lets you dial the risk-versus-ceiling tradeoff to your own comfort. A 20% buffer absorbs more of a downturn, which matters most in a sharp market drop, while a 10% buffer typically pairs with higher caps. That flexibility is the real differentiator versus a more rigid structured note or a single-buffer RILA, and it is what lets a cautious buyer and a more aggressive buyer use the same contract differently.

This is a six-year commitment, not a source of short-term cash. Each contract year you can take the greater of earnings or 10% of remaining premium without a withdrawal charge, and that amount is immediately available. Anything above the free amount during the surrender period is subject to the charge schedule below and, importantly, to an interim value adjustment — Jackson's term for the market-based recalculation applied to any withdrawal taken before a term ends. That interim value can be higher or lower than your premium, so mid-term withdrawals carry real uncertainty. A market value adjustment also applies. Free withdrawals not used in a given year do not carry forward.

On the positive side, the contract is RMD-friendly: required minimum distributions can be taken free of withdrawal charges even when they exceed the 10% free amount. There is also an Extended Care Waiver, capped at $250,000 and usable once after the first contract anniversary, which provides some relief if you need care. Even with these provisions, the buffer and interim value structure mean this should not be treated as accessible savings.

Market Link Pro II has no explicit M&E charge, no product fee, and no administration charge, which is a genuine plus for a registered product — the cost is built into the caps and participation rates rather than billed separately. The tradeoffs are structural rather than line-item. The biggest one is that a buffer is not a floor: in a decline worse than your chosen buffer, you absorb the excess loss. Caps and participation rates limit your upside, and they reset at each term, so a future term could carry less attractive terms than the one you bought into. The interim value adjustment on early withdrawals adds another layer of variability. And because this is a RILA, your principal is genuinely at risk beyond the buffer — that is the defining trade in exchange for higher growth ceilings.

Legal Entity: Jackson National Life Insurance Company of New York

Parent: Jackson Financial Inc.

A.M. Best Rating: A