Why it earned this rating
Our assessment
The Palladium MYG MAX 3 is designed to maximize the guaranteed rate by trading annual free withdrawal access for a potentially higher rate. For a 3-year product, this is a real tradeoff — three years without any penalty-free access is meaningful. Well-built but the liquidity restriction brings the rating down modestly.
The short version
I think the MYG MAX series is best suited for savers who are certain they won't need access during the term. For a 3-year commitment, "certain" is more achievable than it is for 7 or 10 years. If you have that clarity, and the rate premium justifies it, the MYG MAX 3 earns its place.
Key facts
American National Insurance Company, founded 1905, A (Excellent) A.M. Best. The Palladium MYG MAX is a rate-optimized MYGA that trades the annual free withdrawal provision for a potentially higher guaranteed rate.
The full review
Is American National Palladium MYG MAX 3 a Good Annuity?
It depends on your liquidity needs. The rate may be higher than other 3-year MYGAs, but the total illiquidity during the 3-year term is a meaningful restriction that not every buyer is comfortable with.
Why Someone Would Buy This Annuity
A saver who has money that is truly set-aside for three years — perhaps proceeds from a home sale waiting for a new purchase, or a rollover being parked while planning a larger financial move — and who wants to extract maximum yield from it during that window.
Who This Annuity Is Best For
Savers who are certain they won't need any of the money for three years. Not appropriate for anyone who might need liquidity during the term, even in an emergency situation that doesn't qualify for the waiver provisions.
What You're Really Buying Here
Maximum guaranteed rate for 3 years with 100% principal protection and tax deferral. No free withdrawal during the guarantee period — only a 30-day access window at the end of the guarantee period without charges.
How the Core Feature Works
Fixed rate declared at issue, locked in for three years. No free withdrawal during the term. At the end of the 3-year guarantee period, a 30-day window opens during which you can withdraw any amount without surrender charges or MVA. Outside that window during the surrender period, excess withdrawals trigger surrender charges and the MVA. The underlying surrender schedule for MYG MAX runs 10 years (8,8,7.4,6.5,5.6,4.7,3.7,2.8,1.9,0.9) — the guarantee period ends at year three but the surrender schedule may extend beyond it.
Why the Secondary Feature Matters
Rate enhancement for $100,000+ premiums. Over a 3-year period at a higher rate tier, the incremental interest can be meaningful on a large deposit.
Liquidity and Surrender Schedule
No free withdrawal during guarantee period. 30-day access window at end of guarantee period. Underlying surrender schedule: 8,8,7.4,6.5,5.6,4.7,3.7,2.8,1.9,0.9,0 (10 years). Emergency waivers for confinement, disability, and terminal illness (not all in CA).
Fees and Tradeoffs
No explicit fees. Rate is net. Not available in New York.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Multi-Year Guaranteed Annuity (MYGA) — MAX Series |
| Surrender Period | 3-Year Guarantee Period (underlying 10-yr schedule) |
| Issue Ages | 0–90 |
| Minimum Premium | $5,000 |
| Interest Rate | Higher rate optimized; guaranteed for 3-year term; $100k+ band available |
| Free Withdrawal | None during term; 30-day access window at end of guarantee period |
| Market Value Adjustment | Yes, on excess withdrawals |
| MGSV | Greater of full AV or CSV |
| Waivers | Confinement, Disability, Terminal Illness (CA: Disability only) |
| 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. Part of Brookfield Reinsurance since 2022. A.M. Best: A (Excellent).
Final take
The MYG MAX 3 earns its place for savers who want maximum rate and have true certainty about not needing access. The 30-day window at maturity is the key exit mechanism — plan to use it or to roll the contract at that point. Just be clear-eyed about the illiquidity during the 3-year term.