Company Information
Company Name
American National Life
Product Name
American National Palladium MYG Annuity 8
Description
The Palladium MYG is a single-premium fixed annuity with a guaranteed eight-year interest rate lock. After eight years, owners have a 30-day window to withdraw or transfer the full account value. If no action is taken, the annuity renews for two more years and completes a ten-year term at a new interest rate declared at that time.
This contract offers three rate bands. The highest rates are for deposits over $250K. Two lower interest rate bands are available for funds between $100K-$249.9K as well as $5K-$99.9K. Qualified and non-qualified funds are accepted and there are no surrender charges at passing.
AM Best Rating
A
URL
Product Type
MYGA
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
5.05%
Term
8 Years
Minimum Investment
$ 250,000
Maximum Investment
$3,000,000 without prior approval
Maximum Age
90
Surrender Schedule
8%, 8%, 7%, 6%, 5%, 4%, 3%, 0%
What We Like About This Annuity
Three rate bands are available and 10% contract liquidity is offered in all years from an A rated company. Up to $3 million accepted for larger accounts. No surrenders at death and a fair surrender schedule.
Notable Features
At no cost, this account provides Confinement, Terminal Illness, and Disability waivers giving consumers several ways to access their full account value during times of need.
Other Popular Products
Beyond fixed annuities, American National offers competitive indexed and immediate income annuities. Their whole life and guaranteed universal life policies are also popular with consumers.
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About American National Insurance Company
This large and well-diversified insurance company offers life, annuity, and property and casualty insurance nationwide. They’ve been in business for over 100 years and are widely recognized for their industry strength and consumer service.
Integrity, respect, service, financial strength, and teamwork are just a few of their most important core values. Company breadth and flexibility allow for unique coverage options that can be tailored to consumers’ needs.