Jackson National Life Global Funding U.S. $8,000,000,000

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1 BASE PROSPECTUS SUPPLEMENT Jackson National Life Global Funding U.S. $8,000,000,000 GLOBAL DEBT ISSUANCE PROGRAM This supplement (this Base Prospectus Supplement ) is supplemental to and must be read in conjunction with the Offering Memorandum dated August 10, 2006 (the Offering Memorandum ) prepared by Jackson National Life Global Funding (the "Trust"), under the Trust's global medium-term note program for the issuance of senior secured medium-term notes (the "Notes"). Application has been made to the Irish Financial Services Authority as competent authority for the purposes of Directive 2003/71/EC (the Prospectus Directive ) for this Base Prospectus Supplement to be approved. This document constitutes a Base Prospectus Supplement for the purposes of the Prospectus Directive. References herein to this document are to this Base Prospectus Supplement incorporating Annex 1 and Annex 2 hereto. Annex 1 of this Base Prospectus Supplement includes a description of certain recent developments (the "Recent Developments") related to the filing with the Michigan Office of Financial and Insurance Services by Jackson National Life Insurance Company ("Jackson") of its quarterly unaudited unconsolidated statutory financial statements as of and for the period ended June 30, 2006 (including any notes thereto, and excluding schedules, the "Second Quarter 2006 Statutory Financial Statements"). Annex 2 of this Base Prospectus Supplement contains the text of the Second Quarter 2006 Statutory Financial Statements. Copies of the Recent Developments and the Second Quarter 2006 Statutory Financial Statements will be made available for inspection at the offices of the parties at whose offices documents are to be available for inspection as identified in General Information in the Offering Memorandum dated August 10, Except as disclosed in this Base Prospectus Supplement, there has been no other significant new factor, material mistake or inaccuracy relating to the information included in the Offering Memorandum since the publication of the Offering Memorandum. Each of the Issuer and Jackson accepts responsibility that, having taken all reasonable care to ensure that such is the case, the information contained in this Base Prospectus Supplement is, to the best of their knowledge, in accordance with the facts and does not omit anything likely to affect the import of such information. Base Prospectus Supplement dated August 23, 2006

2 ANNEX 1 Six months ended June 30, 2006 RECENT DEVELOPMENTS PREMIUMS AND ANNUITY CONSIDERATIONS totaled $4,496.7 million for the six months ended June 30, 2006 as compared with $3,622.9 million for the same period in Variable annuity premiums received in the first six months of 2006 of $3,170.2 million were up 54% compared to $2,059.2 million for the same period in 2005, reflecting customers continued preference for equity based returns and Jackson s strong product offering. Sales of fixedindexed annuities ("FIAs") during the first six months of the year totaled $523.8 million, a decrease of 6% compared to $554.5 million in the same period a year ago. Fixed annuity sales of $553.4 million were down 26% compared to $751.6 million for the comparable period in Low interest rates and a flat yield curve have limited customer demand for fixed annuities and continued uncertainty in the regulatory environment has dampened interest in FIAs. Sales of institutional products, which are treated as deposits for statutory accounting purposes and a market in which Jackson participates on an opportunistic basis, of $1,160.0 million in the first half of 2006 were down 23% compared to the same period in NET INCOME totaled $209.4 million for the six months ended June 30, 2006, compared to $326.7 million for the six months ended June 30, The decrease in net income is primarily due to the inclusion of certain Life Insurance Company of Georgia pre-close restructuring transaction gains totaling $83.7 million, net of tax, in 2005 and a higher effective tax rate in In accordance with statutory accounting principles, prior year net income has been restated to reflect the December 31, 2005 merger with the Life Insurance Company of Georgia as if it had happened effective January 1, Accordingly, net income for the six months ended June 30, 2005 includes $97.1 million from the Life Insurance Company of Georgia, in large part due to the aforementioned restructuring transactions. CAPITAL AND SURPLUS increased to $3.7 billion at June 30, 2006 compared to $3.4 billion at December 31, The increase of $253.0 million is comprised of net income ($209.4 million), unrealized gains on derivative positions ($47.9 million), unrealized gains on limited partnerships ($31.2 million), unrealized gains on common stocks, mutual funds and subsidiaries ($9.4 million) and other net increases ($4.3 million) offset partially by an increase in the asset valuation reserve ($43.1 million), an increase in reinsurance in unauthorized companies ($4.9 million) and an increase in non-admitted assets ($1.2 million). TOTAL ADMITTED ASSETS increased to $63.7 billion at June 30, 2006 from $60.7 billion at December 31, This increase is primarily attributable to the growth in assets supporting variable annuity liabilities. Jackson s investment portfolio is broadly diversified with over 1,400 issuers. Below investment grade bonds totaled 5.9% of cash and invested assets at June 30, 2006, unchanged from December 31, Jackson s bond portfolio included $4.3 million of bonds that were in default as of June 30, 2006 compared to $4.0 million at December 31, 2005.

3 Second Quarter 2006 Statutory Financial Statements ANNEX 2

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