Why it earned this rating
Our assessment
The MYG MAX 7 combines a competitive 7-year rate with the MAX structure's rate premium. For a committed saver who can genuinely go seven years without access, this product maximizes what a 7-year MYGA can deliver.
The short version
I think the MYG MAX 7 deserves serious consideration from savers who are truly parking money for seven years and want maximum guaranteed return. Compare the rate against the standard and Match MYG 7 at your premium level — the premium may be meaningful enough to justify the liquidity trade. It's not right for everyone, but for the right buyer it performs well.
Key facts
American National Insurance Company, founded 1905, A (Excellent) A.M. Best. The MYG MAX 7 is the longest standard duration in the MAX series and typically earns the best rate for committed savers in the 7-year MYGA category from American National.
The full review
Is American National Palladium MYG MAX 7 a Good Annuity?
Yes, for the right buyer. If you have a 7-year commitment and want maximum rate, this delivers. The carrier is strong and the product structure is transparent.
Why Someone Would Buy This Annuity
A 58-year-old planning to retire at 65 who wants to lock in a guaranteed rate on a portion of their savings for the full run-up to retirement, with no income needed until they stop working. The MAX structure maximizes the amount at retirement.
Who This Annuity Is Best For
Pre-retirees with a clear 7-year horizon and sufficient other liquid assets. Savers doing a 401k or prior annuity rollover who don't plan to draw on the funds during the accumulation period. Not suited for anyone who might realistically need the money during the 7-year term.
What You're Really Buying Here
The highest guaranteed rate American National offers for a 7-year commitment, with 100% principal protection and tax-deferred compounding. Full access at the 30-day window at year seven.
How the Core Feature Works
Fixed rate at issue, locked in for seven years. No free withdrawal during the guarantee period. At the end of year seven, a 30-day window allows full or partial withdrawal without charges. Emergency waivers available for qualifying events during the term.
Why the Secondary Feature Matters
$100,000+ premium enhancement. With no withdrawals for seven years, full compounding of the enhanced rate on a larger deposit produces a materially better outcome than the standard or Match MYG 7 at equivalent deposit levels — assuming the MAX rate is higher, which it's designed to be.
Liquidity and Surrender Schedule
No free withdrawal during 7-year guarantee period. 30-day access window at end of year 7. Underlying schedule: 8,8,7.4,6.5,5.6,4.7,3.7,2.8,1.9,0.9,0. Emergency waivers: confinement, disability, terminal illness (CA: disability only).
Fees and Tradeoffs
No explicit fees. Not available in New York.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Multi-Year Guaranteed Annuity (MYGA) — MAX Series |
| Surrender Period | 7-Year Guarantee Period (underlying 10-yr schedule) |
| Issue Ages | 0–90 |
| Minimum Premium | $5,000 |
| Interest Rate | Highest in MAX series for this duration; guaranteed 7 years; higher for $100k+ |
| 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 7 is a serious product for serious savers with a 7-year commitment. If you're going to park money for seven years anyway, getting the best rate available for doing so is logical. Compare the rate premium against the standard Palladium MYG 7 and Match MYG 7 at your deposit level — if the difference is meaningful, the trade is worth it.
- Death Benefit
- Greater of the surrender value or the annuity value of the contract on the date proof of death is received by American National.
- Minimum Guaranteed Surrender Value
- 90% of premium accumulated at 0.15% to 3% interest (varies by state)
- Withdrawal Provisions
- Surrender-charge waivers: Terminal Illness Waiver, Confinement Waiver, and Disability Waiver (restrictions apply; Terminal Illness and Confinement waivers unavailable in California).