Why it earned this rating
Our assessment
The WealthQuest Citadel 7 Diamond is a clean traditional fixed annuity that stands out for its absence of a Market Value Adjustment — a meaningful consumer-friendly feature. No MVA simplifies the risk picture significantly for buyers who want 7-year safety without the MVA variable. The flexible premium and systematic withdrawal capability add practical utility.
The short version
I think the Citadel 7 Diamond's most notable feature is the absence of a Market Value Adjustment. Many traditional fixed annuities and MYGAs include an MVA that can reduce surrender values in rising rate environments. The Citadel 7 Diamond doesn't have this, which simplifies the risk picture significantly. The tradeoff may be a slightly lower rate compared to MVA-bearing products. For buyers who want absolutely no MVA risk, this is worth considering.
Key facts
American National Insurance Company, founded 1905, A (Excellent) A.M. Best. The WealthQuest Citadel 7 Diamond is a flexible-premium traditional fixed annuity with a 7-year declining surrender schedule, no MVA, 10% annual free withdrawal, and three crisis waivers. Policy Form WQ703-NQ, PQ.
The full review
Is American National WealthQuest Citadel 7 Diamond a Good Annuity?
Yes, for conservative savers who want simplicity and no MVA risk. The product is well-structured, the carrier is financially strong, and the no-MVA feature is genuinely valuable compared to many traditional fixed annuities.
Why Someone Would Buy This Annuity
A conservative retiree who wants a 7-year safe harbor for a portion of their savings, wants 10% annual access from day one (systematic or lump sum), doesn't want any exposure to indexes or volatility-linked adjustments, and specifically wants to avoid the MVA risk that comes with many comparable products.
Who This Annuity Is Best For
Conservative savers ages 50–80 who want the simplest possible 7-year fixed annuity with no MVA exposure. Buyers who value the flexible premium feature for ongoing contributions. Not appropriate for buyers seeking market participation, higher yields through indexing, or competitive MYGA-level rates.
What You're Really Buying Here
A flexible-premium traditional fixed annuity with a guaranteed declared interest rate, 100% principal protection, 10% annual free withdrawal (lump sum or systematic), no MVA on surrenders or withdrawals, and three crisis waivers. Seven-year declining surrender schedule. Death benefit passes full value to beneficiaries without surrender charges.
How the Core Feature Works
American National declares an interest rate that credits to the annuity annually. Your principal is 100% protected — it cannot decrease regardless of interest rate movements. You can take up to 10% of the annuity value per year without surrender charges, either as a scheduled systematic withdrawal or a lump sum. The systematic withdrawal feature supports payments as low as $50 per month via direct deposit, making it practical for income supplement planning. There is no MVA — the amount you receive on excess withdrawals or surrender is simply your annuity value minus the applicable surrender charge.
Why the Secondary Feature Matters
No Market Value Adjustment is the headline secondary feature. Compare this to the Palladium MYG 7, which includes an MVA on excess withdrawals. The MVA can work for or against you depending on interest rate movements since purchase — in a rising rate environment, it reduces your surrender value. The Citadel 7 Diamond removes this variable entirely. The tradeoff is typically a slightly lower declared rate, but the simplified risk profile may be worth it for many conservative buyers.
Liquidity and Surrender Schedule
7-year declining surrender: 7,7,7,6,5,4,2. No MVA on withdrawals or surrenders. Free withdrawal: 10% of AV per year. Systematic withdrawal available (interest only or fixed amount, monthly/quarterly/semi-annual/annual; minimum $50/month direct deposit). Emergency waivers: Nursing Home or Hospital Confinement (60+ consecutive days, licensed facility, owner ≤80 at issue), Disability (SS eligible, <65 at issue), Terminal Illness (diagnosed after issue). Waiver availability varies by state.
Fees and Tradeoffs
No explicit annual fees. No MVA. Minimum guaranteed interest rate varies by state. This is an older product — confirm current rate competitiveness.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Flexible Premium Traditional Fixed Annuity |
| Surrender Period | 7 Years (7,7,7,6,5,4,2) |
| Issue Ages | Not specified; owner must be ≤80 at issue for confinement waiver |
| Minimum Premium | Not stated; typical minimum applies |
| Interest Rate | Declared by American National; 100% principal guaranteed |
| Minimum Guaranteed Interest Rate | Varies by state |
| Market Value Adjustment | None |
| Free Withdrawal | 10% of AV per year; systematic withdrawals available |
| Surrender Schedule | 7, 7, 7, 6, 5, 4, 2 |
| Waivers | Nursing Home/Hospital (60+ days, age ≤80), Disability (<65, SS eligible), Terminal Illness |
| Death Benefit | Full annuity value; no surrender charges; avoids probate with named beneficiary |
| Policy Form | WQ703-NQ, PQ; WQ703-NQ2, PQ2 (Rev. 12/07) |
Carrier snapshot
American National Insurance Company, founded 1905, Galveston, Texas. A.M. Best: A (Excellent). Part of Brookfield Reinsurance since 2022.
Final take
The WealthQuest Citadel 7 Diamond is a solid traditional fixed annuity that stands out for its absence of a Market Value Adjustment. For conservative buyers who want 7-year safety without the complexity of indexing or the MVA risk of most MYGAs, this is worth considering. Compare the current rate against the Palladium MYG 7 — if the rate is reasonably close and you want no MVA exposure, the Citadel 7 Diamond may be the better fit.