American National Palladium MYG 10
Current Fixed Rates Bands
The American National Palladium MYG 10 is a single-premium fixed annuity with a guaranteed ten-year interest rate lock. After ten years, owners have a 30-day window to withdraw or transfer the full account value. If no action is taken, the annuity renews at the declared guaranteed minimum interest rate 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.
Free 10% annual withdrawals are available all years. Both qualified and non-qualified funds are accepted. There are no surrender charges at passing.
Another fixed annuity option from American National is the Palladium MYG Annuity Max 10, which offers higher rates and less liquidity.
More Annuity options from: American National Life
Notable Features
At no cost, this policy provides Confinement, Terminal Illness, and Disability surrender-charge waivers if certain conditions are met. This policy also allows for penalty-free IRA Required Minimum Distributions.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
10 Years
Free Withdrawals Yr1 / Yr2+
10% / 10%
Additional Withdrawal Information
This policy allows for 10% free withdrawals (based on the beginning contract year annuity value) each year. It also includes penalty-free RMD withdrawals for IRA owners.
Surrender Schedule
8%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0%
Maximum Age
90
Minimum Investment
$250,000
Maximum Investment
$3,000,000
What We Like About This Annuity
This fixed annuity offers 10% free withdrawals and is offered by an A rated insurance company. There are three rate bands to tailor account size. Up to $3 million is accepted for jumbo annuity accounts. There are no surrender penalties at death.
Other Popular Products
Beyond fixed annuities, American National offers competitive indexed annuities for growth (with rate locks for the entire term) and strong immediate income annuity policies. Their whole life and guaranteed universal life policies are also popular with consumers.
About American National Life
American National Life
AM Best Rating: A Excellent (3rd of 13 ratings)
https://www.americannational.com/home
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.
American National is rated A (Excellent) with AM Best, Fitch, and S&P. Their Comdex score is 75, further reassuring investors of overall financial strength.
Integrity, respect, service, financial strength, and teamwork are just a few of their most important core values. The company’s breadth and flexibility enable it to offer unique coverage options tailored to meet consumers’ insurance and annuity needs.