Underlying Investment Option Changes for October 2009

Direxion Evolution VP Managed Bond Fund and Evolution VP All-Cap Equity Fund Liquidations

The Board of Trustees of the Direxion Insurance Trust has determined to close the following underlying funds:Evolution VP Managed Bond Fund and Evolution VP All-Cap Equity Fund (the "Funds"). These funds are investment options in Jefferson National variable annuity contract(s). Completion of the liquidation is planned for, on or about, December 23, 2009. Please be advised that Jefferson National is not affiliated with the Direxion Insurance Trust and has no control or influence over whether or not to liquidate the funds.

In light of the Trustees' action, and their reasons for acting, Jefferson National Life has taken the following actions:

  1. Effective October 30, 2009, we will no longer accept purchase payments allocated to these funds. Completion of the liquidations is planned for, on or about, December 23, 2009. If no action is taken prior to the liquidation date the account value invested in these funds will be automatically transferred into the JNF Money Market Portfolio, as will any future allocations unless you, or your client, instruct otherwise.

Legg Mason Underlying Fund Option Name Changes

Effective November 2, 2009, the names of the following underlying investment options, available in Jefferson National variable annuity contracts, will change:

Former Name New Name
Legg Mason Aggressive Growth Legg Mason CBA Aggressive Growth
Legg Mason Capital and Income Legg Mason CBA Equity Income Builder
Legg Mason Fundamental Value Legg Mason CBA Fundamental Value
Legg Mason Global High Yield Bond Legg Mason WA Global High Yield Bond
Legg Mason Large Cap Growth Legg Mason CBA Large Cap Growth
Legg Mason Strategic Bond Legg Mason WA Strategic Bond

If you have any questions please call our Customer Service Center at 866-667-0561.

 

An investor should carefully consider the investment objectives, risks, charges and expenses of the investment before investing or sending money. For a prospectus containing this and additional information, please contact your financial professional. Read it carefully before investing. The summary of product features is not intended to be all-inclusive. Restrictions may apply. The contracts have exclusions and limitations, and may not be available in all states or at all times.

Variable annuities are investments subject to market fluctuation and risk, including possible loss of principal. Your units, when you make a withdrawal or surrender, may be worth more or less than your original investment.

Variable annuities are long-term investments to help you meet retirement and other long-range goals. Withdrawal of tax-deferred accumulations are subject to ordinary income tax. Withdrawals made prior to age 59 ½ may incur a 10% IRS tax penalty. Jefferson National does not offer tax advice. Annuities are not deposits or obligations of, or guaranteed by any bank, nor are they FDIC insured.

Monument Advisor is issued by Jefferson National Life Insurance Company (Dallas, TX) and distributed by Jefferson National Securities Corporation, FINRA member. Policy series JNL-2300-1, JNL-2300-2.

Form #: jef-alert_archive-20070817