Palladium Match MYG (Bank Product)
Highlights
Premium Type
|
Single Premium
|
---|---|
Max age Qualified
|
90
|
Minimum Contribution
|
$5,000
|
Maximum Contribution
|
$3,000,000
|
Market value adjustment
|
|
Return of premium
|
|
Free withdrawal
|
10% |
Launch date
|
02/01/2024 |
Types of funds
|
Non-Qualified, 401k, Profit Sharing, IRA, Spousal IRA, Pension, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, KEOGH, Inherited IRA, and TSP |
Brochure
|
Open brochure |
Tax-deferred growth
This product allows for tax-deferred growth until you need the money from your annuity. While it is growing tax-deferred, you will receive compounded interest on the entire amount in the annuity and not on the after tax amount as you would with taxable products each year.
Annual effective interest rate
It pays an annual “effective interest rate” based upon compounding of both the principal and interest. Interest will be credited to the annuity, compounded daily, based on a 365 day year. Any withdrawals, including interestonly withdrawals, will reduce the amount of interest credited to your contract.
Systematic Withdrawals
May be requested at any time prior to maturity for interest-only or fixed amounts. Minimum withdrawal amount is $100.00 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 For earnings withdrawn before age 59½, a 10% federal tax penalty may apply to the taxable amount.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
10% of the beginning contract year annuity value may be withdrawn without a surrender charge every year.
Death Benefit
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.
Find out if the Palladium Match MYG (Bank Product) is the right product for you.
MYGA Interest Rates
Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
---|---|
3 years | 4.3% |
5 years | 5.05% |
7 years | 5.05% |
Riders
No Riders for Palladium Match MYG (Bank Product) annuity.
Waivers
Terminal Illness
Unavailable in states: CA
For those unexpected health care events in your life, Palladium MYG provides a Terminal Illness Waiver that allows you to have access to your money without any surrender charges, or any applicable market value adjustments.
Disability
For those unexpected health care events in your life, Palladium MYG provides a Disability Waiver that allows you to have access to your money without any surrender charges, or any applicable market value adjustments.
Confinement
Unavailable in states: CA
For those unexpected health care events in your life, Palladium MYG provides a Confinement Waiver that allows you to have access to your money without any surrender charges, or any applicable market value adjustments.
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