Fixed annuity review and rates
Palladium MYG
The Palladium MYG - NY is a single premium deferred annuity. A single premium fixed deferred annuity that offers six guaranteed interest rate periods: 5–10 years. Certain guarantee periods include a first year interest rate enhancement. After the initial guarantee period, funds are available for full surrender without incurring surrender charges during a 30-day.
Systematic Withdrawals
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 For earnings withdrawn before age 59½, a 10% federal tax penalty may apply to the taxable amount.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.
Surrender charge free withdrawals
Interest only in first year. Starting in year two, 10% of the annuity value at beginning of each contract year may be taken without surrender charge.
No guarantee of principal
Note:
We will accept the following Inherited IRA:
Systematic Withdrawals
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 For earnings withdrawn before age 59½, a 10% federal tax penalty may apply to the taxable amount.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.
Surrender charge free withdrawals
Interest only in first year. Starting in year two, 10% of the annuity value at beginning of each contract year may be taken without surrender charge.
No guarantee of principal
Note:
We will accept the following Inherited IRA:
- Non-Spouse ONLY if the original owner passed away prior to 01/01/2020.
- If the DOD is on or after 01/01/2020 we will only accept Spousal Inherited IRAs.
Interest Rates
| Guaranteed Years | Surrender Years | Guaranteed Yield | Current Yield |
|---|---|---|---|
| 5 | 5 | 2.9% | 2.9% |
| 5 | 5 | 3% | 3% |
| 6 | 6 | 3.1% | 3.1% |
| 6 | 6 | 3.2% | 3.2% |
| 7 | 7 | 3.2% | 3.2% |
| 7 | 7 | 3.3% | 3.3% |
| 10 | 10 | 3.35% | 3.35% |
| 10 | 10 | 3.45% | 3.45% |
| 5 | 5 | 3.15% | 3.15% |
| 6 | 6 | 3.35% | 3.35% |
| 7 | 7 | 3.45% | 3.45% |
| 10 | 10 | 3.6% | 3.6% |
| 3 | 3 | 3.3% | 3.3% |
| 3 | 3 | 3.15% | 3.15% |
| 3 | 3 | 3.05% | 3.05% |
American National Life Insurance Company of New York
Founded:
1953
A.M. Best:
A
Fitch:
A
S&P:
A
Brochure
Free withdrawal
1st year: 0%
2nd+ year: 10%
2nd+ year: 10%
Types of funds
Non-Qualified, 401k, Profit Sharing, IRA, Spousal IRA, Pension, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, Inherited IRA, and TSP