Palladium MYG NY
The Palladium MYG NY annuity is a great financial tool that guarantees growth, helping you maximize your financial potential. This product offers a fixed interest rate, ensuring your earnings grow steadily and securely - perfect for long-term savings. Plus, your earnings grow tax-deferred which means more money in your pocket, and freedom to choose the guarantee periods ranging from 3 to 10 years gives you the flexibility you need.
Plus, Palladium MYG also offers you access to your money when you need it most. In case of unexpected health care events, you can access your money without any surrender charges. With the option of withdrawing up to 10% of your annuity value annually, free of any charges or adjustments, your money is never out of reach. Upon your passing, your chosen beneficiary receives the full value of your annuity, free of additional expenses. Certainly, an excellent choice for a secure and promising future!
Palladium MYG NY
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 3.3% |
| 5 years | 3.5% |
| 6 years | 3.75% |
| 7 years | 3.95% |
| 10 years | 4.05% |
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 For earnings withdrawn before age 59½, a 10% federal tax penalty may apply to the taxable amount.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
10% of the beginning contract year annuity value may be withdrawn without penalty every year. Interest only may be withdrawn in the first year in NY.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.
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.
Riders
No Riders for Palladium MYG NY annuity.
Waivers
Annuitization
After 3rd year if annuitized for at least 5 years.
Surrender Window
When the guarantee period you’ve chosen comes to an end, Palladium MYG gives you flexibility and choice. At the end of your guarantee period, you can either: 1. Withdraw all money without penalty during a special 30-day window, or 2. Continue the annuity and earn an annual effective interest rate declared annually on the policy anniversary.
Disability
American National will waive the surrender charge for any full surrender or partial surrender when you are physically disabled or diagnosed with a disabling terminal illness. American National requires proof of such disability or disabling terminal illness, including written confirmation of receipt and approval of a claim for social security disability benefits. Proof of continued disability may be required through the date of any partial surrender.
Confinement
American National will waive the surrender charge for any full surrender or partial surrender made while you are confined in any of the following facilities for 30 or more consecutive days: 1) A hospital licensed or recognized as a general hospital; 2) A convalescent care facility; 3) A hospice facility licensed, certified or registered in accordance with state law. This waiver applies to full surrender or partial surrenders requested no later than 90 days after the last day of confinement to such facility. The confinement waiver is not available if you are confined to a hospital, convalescent care or hospice facility on the date of issue or if the application is signed by a power of attorney. You must be 80 years old or younger on the date of issue. The nursing home waiver does not include home health care.
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