American National Annuities: Navigating the Options for Your Retirement Income

As a financial services conglomerate, American National offers a variety of life insurance, accident insurance and property insurance policies, plus other financial investment products. First founded in Galveston, Texas, in 1905 as American National Insurance Company, it has grown to include several large subsidiaries. The company sells insurance and investment products in all 50 states.

American National enjoys “A” ratings from major credit ratings agencies, including Fitch and S&P Global Ratings. These ratings indicate that the company is financially stable and has enough money to meet current and future financial obligations, including those for long-term products like annuities.

American National offers three annuity products: index deferred annuities, fixed deferred annuities and a single premium immediate annuity. Each offers different annuity rates to meet customers’ needs.

American National’s index deferred annuities deliver fluctuating interest rates that move up and down according to a stock index that approximates stock market performances. These annuities have higher-than-average growth potential but also protect your principal from stock market losses. Your interest rate can never fall below zero, and your premium deposits can never lose value.

American National’s index deferred annuity products include ANICO Strategy Indexed Annuity (ASIA) PLUS.

American National’s fixed deferred annuities provide a guaranteed interest rate for the duration of the annuity term. Once payouts start, you’ll receive the same-sized payments each month. This option works well for people who want an annuity that carries minimal risk.

Unlike most annuities, American National’s single premium immediate annuity pays out just one month after you purchase it. This product guarantees its interest rate and regular payments for as long as your funds last. It’s an ideal investment for people who want to spread their income across several years to make their cash flow more predictable and to lower their overall tax burden.

American National’s single premium immediate annuity product is the Palladium Single Premium Immediate Annuity.

Take potential fees and charges into account when you buy an annuity. American National charges no administrative fees on any of its standard annuities, making it one of the most cost-effective options on the market.

Some of American National’s annuities, including the ANICO Strategy Indexed Annuity and the Century Plus Annuity, have optional lifetime income riders, which entitle you to ongoing payments even if your initial premium runs out. The premium on a lifetime rider costs up to 1% of the contract amount plus any interest your premium accumulates.

If you withdraw more than 10% of your premium amount in any year, you’ll owe surrender charges on that money. The amount depends on the specific annuity policy, but it can be as high as 10% of your withdrawal amount during the first year of the term. The rate falls each year after that until the term is up.

American National has two customer service departments for annuity customers. You can contact the Bill Pay & Policy Service department of American National’s annuities division by phone at 800-252-9546 or by email at customerservicecenter@americannational.com.

If you have claims questions, contact the Life & Annuity claim service department 800-615-7372 or by email at annuity.lifeclaimsdept@americannational.com.

American National also has a service-oriented online portal. You must register for an account by providing your policy number and verifying your identity.