- American National is a 120-year-old A-rated carrier owned by Brookfield Reinsurance since 2022, with $5.3B in direct annuity premiums.
- Flagship lineup is the Palladium MYGA series (3, 5, 6, 7, 10 year guarantee periods) and the Palladium MYG Max for higher rates without the 10% free withdrawal.
- The single premium immediate annuity was named a Barron's Top 100 Annuity in 2024 for competitive rates, payouts, and flexibility.
- One real weakness: the website makes side-by-side product comparison surprisingly difficult, requiring brochure-by-brochure review.
American National is one of the older carriers in the U.S. annuity market. Founded in 1905. A-rated by AM Best. Owned by Brookfield Reinsurance since 2022. And recognized as a Barron's Top 100 annuity provider for its single premium immediate annuity. This independent review covers what an American National annuity actually offers, the product lineup, financial strength, and the one notable weakness that does not get talked about enough.
Who issues an American National annuity?
The American National annuity is issued by one of two related companies. It depends on where you live. American National Insurance Company, headquartered in Galveston Texas, issues contracts in all states except New York. Business in New York is conducted 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. That is the standard structure for carriers writing business across state lines.
The parent organization is American National Group. It has been in financial services for more than 120 years. Brookfield Reinsurance acquired it in 2022. The deal brought the carrier under the umbrella of a large global asset manager. The company sells $5.3 billion in direct annuity premiums each year. It also offers insurance products beyond annuities, including life insurance and property and casualty coverage.
American National's financial strength
American National holds an A rating from AM Best. That sits in the "Excellent" tier on AM Best's 13-point scale. The company is also rated by Standard and Poor's and Fitch. That puts it in the small group of insurance company headquartered in the U.S. carrying ratings from multiple major agencies rather than just one.
The NAIC Complaint Index for American National sits at 0.97 for individual annuities. That means the company receives slightly fewer complaints than the industry average for its market size. It is a strong indicator on a long term contract. Customer service matters as much as the contract terms themselves over a 10-year period.
What products and services does American National offer?
American National's annuity lineup covers the main categories most retirement savers consider. The structure is straightforward.
Palladium Multi-Year Guarantee Annuity Series
The Palladium MYGA series is the flagship fixed annuity lineup. It has two main versions.
Palladium MYG is the base multi-year guaranteed annuity. Available guarantee periods are 3, 5, 6, 7, and 10 years. It includes a 10% annual penalty-free withdrawal feature. That matches the industry standard.
Palladium MYG Max mirrors the base product. It removes the 10% annual free withdrawal feature. In exchange you get a higher crediting rate. It is designed for clients who do not need immediate access to their funds. Available interest rate guarantee periods are also 3, 5, 6, 7, and 10 years. The Palladium MYG Max 6 includes a first-year interest rate enhancement.
Rate enhancements apply to premiums of $100,000 or more on either Palladium product. The highest enhancement is available for premiums of $250,000 or more. Smaller premium tiers receive a slightly lower crediting rate.
Indexed deferred annuities
American National offers a single premium fixed indexed annuity through the Strategy Index 7 and Strategy Index 10 contracts. Strategy Index 7 includes four indexed crediting options. Strategy Index 10 expands to six. Both protect principal against market losses. Both include an optional Lifetime Income Rider that guarantees an income stream for life, even if the annuity value falls to zero. The Smart Start Accumulator series is a newer indexed product. It includes a Best Entry Window feature that automatically captures the lowest index value within the first 90 days of the contract.
Single premium immediate annuity
The American National single premium immediate annuity was named a Barron's Top 100 Annuity in 2024. It was recognized for competitive rates, payouts, fees, liquidity, and flexibility. The product converts a lump sum into a predictable income stream. It offers both period certain and lifetime payout structures.
Standard waivers and riders
Most American National annuities include the standard industry waivers at no extra cost. The confinement waiver permits access to funds without surrender charges if the contract owner enters a qualifying long term care facility. The terminal illness waiver provides similar access in the event of a terminal diagnosis. A disability waiver is also available on most contracts. These waivers are not available in California. That is consistent with how state insurance regulation treats them.
The one real weakness
The most consistent criticism of American National is not about the products or the financial strength. It is about how hard the company makes it to find product information. The carrier does not provide a direct product comparison tool on its website. Many product details require downloading individual brochures and comparing them manually. For a buyer trying to evaluate Palladium MYG against Palladium MYG Max, that lack of side-by-side comparison is a real friction point.
This is a minor issue in the grand scheme of choosing an annuity. But it is the one thing buyers consistently note when they research American National themselves. Working with an independent reviewer or an advisor with access to product specs is the practical workaround.
Who an American National annuity actually fits
American National is a strong fit for conservative savers. The Palladium MYGA is competitive for buyers placing $100,000 or more who do not need annual access to the funds. The SPIA is a credible immediate income option. It is backed by Barron's recognition. The fixed indexed annuity offerings are reasonable but not category leaders. Carriers like Allianz or Athene specialize in fixed index annuity design and tend to lead the category.
It may not be the best fit for buyers who want a robust digital product research experience. It is not a fit if you need a registered index linked annuity, since American National does not offer one. And it may not be the rate leader on any given day, though the Palladium series is typically competitive.
The bottom line
The American National annuity lineup is solid, conservative, and backed by one of the longer-tenured carriers in the U.S. annuity market. The A rating signals financial strength. The multi-agency ratings coverage adds confidence. The low NAIC complaint index and the Brookfield Reinsurance ownership round out the picture. The product lineup covers the main retirement income needs without the complexity of some larger competitors. For a buyer who values stability and straightforward product structure over flashy product features, American National is a reasonable choice.
If you are considering an American National annuity or already own one, an independent review of how the specific product fits your overall retirement plan is worth doing before any decision.
Considering an American National annuity for your retirement?
Skip the brochure-by-brochure research. We'll compare the specific Palladium product against the best alternatives, with no sales pressure.
Book a Free Review →