Why it earned this rating
Our assessment
The 10-year Palladium MYG earns the highest rate in the series and makes sense for savers who genuinely have a decade-long horizon. American National's carrier quality is solid, the product is clean, and a decade of tax-deferred compounding at a competitive rate can produce meaningful accumulation.
The short version
The Palladium MYG 10 is a serious product for serious long-term savers. I think it belongs in the conversation when someone is looking to optimize their safe money allocation over a decade. The key question is whether the rate is competitive against other 10-year MYGAs at the time of purchase, because the carrier quality is already confirmed.
Key facts
American National Insurance Company has been operating since 1905, holds an A (Excellent) rating from A.M. Best, and is now part of Brookfield Reinsurance. The Palladium MYG 10 is the longest-duration option in the series and typically offers the highest rate.
The full review
Is American National Palladium MYG 10 a Good Annuity?
Yes, for buyers who match the profile. A decade of locked-in guaranteed accumulation with no market risk is exactly what a portion of a conservative retirement portfolio should do. The carrier is financially strong and has a long history of honoring its contracts.
Why Someone Would Buy This Annuity
A 55-year-old who wants to grow safe money until age 65 and retire with a known lump sum. Or a retiree who has more assets than they'll need in the near term and wants to maximize the guaranteed return on the excess portion. Or someone doing a 1035 exchange from a legacy annuity into a higher-rate MYGA.
Who This Annuity Is Best For
Ages 45–70 with a genuine 10-year window. Savers who have other liquid assets covering living expenses. Anyone prioritizing principal certainty and tax deferral over any upside potential. Not suitable for anyone who might realistically need principal access in the first decade beyond the 10% annual free withdrawal.
What You're Really Buying Here
The highest guaranteed rate in American National's MYGA lineup, with 100% principal protection and a full decade of tax-deferred compounding. At year ten, you get everything back plus interest — no games, no market exposure, no complexity.
How the Core Feature Works
American National locks in a guaranteed rate at issue that holds for all ten years. The rate compounds annually. Beginning in year two, 10% of the annuity value per year is accessible without surrender charges or MVA. Year one is limited to interest credited. The full 10-year surrender schedule runs 8,8,8,7,6,5,4,3,2,1,0. After year ten, the contract is fully liquid.
Why the Secondary Feature Matters
Premium band rates: $100,000+ earns a higher rate. Over ten years, even a 25-basis-point rate premium on a $100,000 deposit adds up to thousands of dollars in additional accumulation. Always ask for the rate at your specific deposit level.
Liquidity and Surrender Schedule
10-year surrender period. Charges: 8,8,8,7,6,5,4,3,2,1 for years 1–10. Fully liquid at year eleven. Free withdrawal: 10% of AV per year starting year 2 (interest only year 1). Emergency waivers for nursing home confinement, terminal illness, and disability.
Fees and Tradeoffs
No explicit fees. Rate is net. Not available in New York. MVA applies on excess withdrawals during the 10-year surrender period — in a rising rate environment, an early exit can be costly.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Multi-Year Guaranteed Annuity (MYGA) |
| Surrender Period | 10 Years |
| Issue Ages | 0–90 |
| Minimum Premium | $5,000 |
| Interest Rate | Highest in series; guaranteed fixed for full 10-year term; higher rates for $100k+ |
| Free Withdrawal | Interest only year 1; 10% of AV per year starting year 2 |
| Market Value Adjustment | Yes, on excess withdrawals during surrender period |
| MGSV | Greater of full AV or CSV |
| Waivers | Nursing Home, Terminal Illness, Disability (vary by state) |
| Death Benefit | Greater of full AV or CSV, no surrender charges |
| State Availability | Not available in New York |
Carrier snapshot
American National Insurance Company, founded 1905, Galveston, Texas. A.M. Best: A (Excellent). Part of Brookfield Reinsurance since 2022. Over a century of honoring policyholder obligations.
Final take
The Palladium MYG 10 is a strong choice for savers who can genuinely commit to ten years. The rate should be the best in the series, the carrier is financially solid, and the tax-deferred compounding over a decade can produce meaningful results. Confirm the rate is competitive at the time of purchase, and be honest with yourself about whether you can truly live within the 10% annual withdrawal limit for ten years.