Palladium® Multi-Year Guarantee Summary
Issue Ages
0–90 (annuitant and owner)
Minimum Single Premium
$5,000
Minimum Guaranteed Interest Rate Free Look Period Market Value Adjustment (MVA) / Excess Interest Deduction (EID)
The Minimum Guaranteed Interest Rate is declared by American National at issue and is guaranteed for all contract years.
All states 30 days
If you withdraw any amount during the Surrender Charge Free Withdrawal period in excess of the allotted 10% Surrender Charge Free Withdrawal amount, additional adjustments may be applied that could increase or decrease the total withdrawal amount. Values are determined by comparing market interest rates on the contract’s issue date to its surrender date. The MVA is not applicable in all states. May be requested at any time prior to maturity for interest-only or fixed amounts. Minimum withdrawal amount is $100.00 ($50 if paid by direct deposit). Please see contract for more information. Withdrawals of earnings are subject to income tax. For earnings withdrawn before age 59½, a 10% federal tax penalty may apply to the taxable amount. Withdrawals from the annuity will affect both the annuity value and the death benefit. 10% of the beginning contract year annuity value may be withdrawn without penalty every year. Interest only may be withdrawn in the first year in NY. At the end of the selected guarantee period, there is a 30-day window to withdraw all funds without a surrender charge and any applicable MVA.
Systematic Withdrawals
Surrender Charge Free Withdrawals
Surrender Charge Schedule
Year
1 2 3 4
5 6
7 8
9 10
11+
Charge 8% 8% 8% 7% 6% 5% 4% 3% 2% 1% 0% California 8% 8% 7% 6% 5% 4% 3% 2% 1% 0% 0%
Surrender Charge Waivers
Confinement Waiver, Disability Waiver, and Terminal Illness Waiver 5 (Restrictions apply. See contract for details.)
Death Benefit
Palladium® MYG: On the death of the owner, the death benefit will be the greater of the surrender value or the annuity value of the contract on the date proof of death is received by American National. Palladium® MYG–NY : On the death of the owner, before the maturity date of the contract, the death benefit will be the annuity value of the contract on the date proof of death is received by American National.
Contract Form Series MYG20; MYGNQ(NY); MYGPQ(NY); AI20 (Forms may vary by state). CA Form: MYG16(04). American National Insurance Company, headquartered in Galveston, Texas is licensed to conduct business in all states except New York. Business is conducted in New York by American National Life Insurance Company of New York, headquartered in Glenmont, New York. Each company has financial responsibility only for the products and services it issues. Not FDIC/NCUA insured | Not a deposit | Not insured by any federal government agency | No bank/CU guarantee | May lose value 1) The Interest Rate Guarantee Periods listed are subject to availability. Your agent can confirm which Interest Rate Guarantee Periods are currently available. 2) Information herein is not intended to be legal or tax advice. You should consult with your own attorney and tax advisor for your specific circumstance. 3) Tax-deferral puts you in charge of your income and taxes. Current U.S. tax law provides that earnings from an annuity are taxable only upon withdrawal as ordinary income. 4) Any withdrawals in excess of the surrender free amount are subject to surrender charges or market value adjustments. Withdrawals of earnings are subject to income tax. For earnings withdrawn prior to age 59½, a 10% federal tax penalty may apply. 5) Terminal and Confinement Waivers are not available in California. Terminal Illness Waiver is not available in New York.
AMERICAN NATIONAL INSURANCE COMPANY AMERICAN NATIONAL LIFE INSURANCE COMPANY OF NEW YORK
4884 | 05.23
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