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Independent Review of American National Palladium Century 1 Annuity

What’s Covered In This Review

In this review, we’ll cover the following information on the American National Palladium Century 1 Annuity:
  • Product TypeAmerican_National_Logo
  • Fees
  • Current Rates
  • Realistic long term return expectations
  • How it is used
  • How it is most poorly used

Annuities can be complex. That’s where having an Annuity Investigator who loves math comes in. We make the complex, simple.

If you’re considering a financial vehicle that can offer you the protection of your principal, along with a guaranteed lifetime income in retirement, then the American National Palladium Century 1 fixed annuity could be a viable option for you. This fixed annuity has a number of guarantees that are actually built directly into it – which can be quite appealing.

But, prior to moving full steam ahead with purchasing this annuity, it is essential that you first get a more in-depth understanding of how it works – and how it may or may not be aligned with your specific financial goals and needs. Then, after you have a deeper knowledge with regard to its inner workings, you will be much more comfortable with what you decide. Over the past several years, annuities have become more popular. One reason for this is because these products are able to offer an ongoing, guaranteed income in retirement. Therefore, those who know that they can rely on an annuity for income – regardless of how long they live – can eliminate the fear of outliving their savings in the future. But, even though this can be highly reassuring, it is also important that you realize that the purchase of any annuity should be considered a long-term commitment – and that these products will typically have a “surrender period” that lasts for several years. Because of that, if you happen to change your mind after you have purchased an annuity, it can be fairly costly to get out. Unfortunately, though, really knowing what it is that you’re getting into with an annuity product can be somewhat challenging. This is because these products oftentimes contain a myriad of “fine print” that can be highly confusing. Also, what can add even more confusion in regards to these products actually has less to do with the annuities themselves, but rather the way in which these products are sold to consumers. This is where we come in.

Annuity and Retirement Income Planning Advice That You Can Trust

If you’ve never been to our website before, then please allow us to personally welcome you to We encompass a team of experienced financial professionals who are highly focused on providing you with the most comprehensive and non-biased annuity reviews that can be found on the Internet today. There may be many reasons why you are looking for more information about annuities via the Internet. You may have heard friends, family, and/or co-workers talking about these financial products. You may also have attended a seminar recently about annuities, where the presenter offered you a free lunch or dinner in return for allowing him or her to present their product to you. This, in fact, may even be what has led you to this website right now. As you have conducted your annuity research, you may have noticed that there is a great deal of conflicting information about these products online. Even some very reputable websites that are devoted to marketing their annuities for sale will try to grab your attention (for the primary purpose of getting your contact information) by making claims like the following:
  • Guaranteed Income For Life
  • Highest Payouts
  • Lowest Fees
  • Top Rated A+ Companies
  • Get Your Quote Now!
Yet, while these claims may all sound great, it is essential to find out if they’re really true. If this is your mission, then you have found yourself in the right place. We have been conducting annuity reviews for many years – far longer than our competitors have been. And we dare say that the website that you are on at this moment is the only place where you can get the full picture of annuities – including the good, the bad, and even the ugly. The insurance sales agents who offer annuities will often times do their best to paint a nice, rosy picture of just how safe these financial vehicles are. However, what they will sometimes not say is that there are also some drawbacks – even with safe and secure fixed annuity products. This means that it is to your benefit to know just exactly what you are considering before you plunk a sizeable chunk of your savings down into it. This annuity review is here to help you in decoding all of that “fine print” about annuities so that you will have a more thorough knowledge of whether this particular annuity may help you to achieve your financial goals. So, if you are ready to begin, let’s go ahead and dive on in!

The American National Palladium Century 1 Fixed Annuity

Product NamePalladium Century 1
IssuerAmerican National Insurance Company
Type of ProductFixed Annuity
Standard & Poor's RatingA
Phone Number(800) 252-9546

Opening Thoughts on the American National Palladium Century 1 Annuity

American National Insurance Company was founded in 1905, operating under the ideals of “strong management, prudent investment, and financial strength.” Over the past century, the company has grown into a well-respected member of the life insurance industry. The company offers a wide variety of insurance protection, such as life, health, and accident insurance, as well as retirement annuities, which can help its customers to ensure that they will have an ongoing, guaranteed income for the remainder of their lives. Due to its strong financial foundation, along with its positive reputation for quickly paying out its policyholder claims, American National has received high ratings from the insurer rating agencies – including an A from A.M. Best Company, and an A from Standard & Poor’s. Headquartered in Galveston, Texas, American National Insurance Company has more than 3,000 employees in its home office, as well as in affiliated offices in Glenmont, New York, and Springfield, Missouri. Over the past decade or so, the demand for annuities has skyrocketed. One reason for this is because of many retirees – as well as those who are planning to retire – no longer feel comfortable putting their hard earned dollars into a volatile stock market. In fact, one of the biggest fears on peoples’ minds today is that of running out of money in retirement. Because of that, both couples and individuals are looking for a safer place to put their savings, where they can obtain a nice return, along with a pension-like income in the future. A fixed annuity can provide them with just exactly that. However, due in large part to today’s low-interest rate environment, the return that has been offered on fixed annuities may not be enough for those who are in retirement to beat – or even to meet – future inflation. So, if you do plan to use the income from a fixed annuity as your primary source of future retirement income, then it could become difficult to maintain your ongoing purchasing power down the road.

Before getting into the gritty details, here are some legal disclosures…

This is an independent product review, and it is not to be considered as a recommendation to purchase or to sell an annuity. American National Insurance Company has not endorsed this review in any way, nor do we receive any compensation for offering this review. This review is meant to be an independent review at the request of readers so that they may see our perspective when breaking down the positives and the negatives of this particular annuity product. Prior to purchasing any insurance or investment product, you should be sure to do your own due diligence and consult a properly licensed professional if you have any specific questions that relate to your individual circumstances. All names, marks, and materials that were used for this review are the property of their respective owners. For additional information on how to compare annuities so that you can decide which may be the best one for you, click here to get access to our free annuity report.

How American National Describes the Palladium Century 1 Annuity

Based on the Palladium Century annuity literature, the Century 1 fixed annuity “can provide some of the assurance you need for your financial process for the long term.” The Palladium Century annuity is a fixed deferred annuity, which can provide the assurance of a guaranteed interest rate, a guaranteed death benefit, and tax deferral on all of the accumulation that takes place within the annuity. This annuity will also waive the normal surrender charges that may otherwise be incurred if funds from the annuity are needed and the annuitant is confined to a licensed hospital or convalescent home, or if he or she becomes physically disabled or diagnosed with a disabling terminal illness.

How a Financial Advisor Might “Pitch” this Annuity

If you have been approached by an insurance or financial advisor regarding the American National Palladium Century 1 fixed annuity, it is likely that he or she placed a focus on the fixed rate guarantee, as well as the ability to attain an ongoing lifetime income with this annuity. In fact, if you have reviewed any literature regarding annuities of late, then you may have noticed that financial and insurance companies will do a great job of ensuring that their products sound very enticing. For example, based on the above description of the American National Palladium Century 1 annuity, you may feel that this could be a good product for you. But, when you really take a close look at it, you may find within the fine print that some of the features of this annuity can come at a cost. For example, while it does offer an interest rate guarantee, the reality is that the guarantee is only offered for one year on the initial premium that you submit. After that, the rates will be declared annually. And, according to the product brochure, “a renewal interest rate may be higher or lower than the current declared interest rate.” So, once you have locked up your money in this annuity, it can be extremely costly if you opt to take most or all of your funds out of it if another product comes along that may fit your needs better. Knowing just exactly what to look for in an annuity can be hard. But it is essential to understand just exactly what you are getting into, as it could determine your future income – and in turn, your future lifestyle in retirement. In order to learn more about what you should look for when purchasing an annuity, click here.

What About the American National Palladium Century 1 Annuity Fees?

In addition to knowing how your money may perform over time in a fixed annuity, it can also be wise to know just exactly what type of fees you will be charged – both during the accumulation phase of the annuity, as well as after you begin to receive the income from it. With regard to the American National Palladium Century 1 annuity, there is an up-front sales commission that is paid out to the agent who sells the annuity. In addition, there will typically be administrative and/or contract fees. There are also surrender charges that could be imposed if you withdraw more than 10 percent of your overall contract value during the first full seven years of the annuity contract. These are as follows:
American National Palladium Century

The Annuity Gator’s End Take on the American National Palladium Century 1 Annuity

Where it works best: The American National Palladium Century 1 fixed annuity will generally work best for those who are looking for:
  • Safety/protection of principal
  • Slow but steady growth over time
  • Guaranteed lifetime income stream
Where it works the worst: This particular annuity will generally not work well for those who:
  • Want to have access to their funds during the early years of the contract
  • Want to get a high return on their money
  • Will not be using the lifetime income feature
Comparing the benefits on annuities can seem difficult. But we make it much more simple to understand, once you know how. In order to download our free report on what to look for in an annuity, just click here.

In Summary

There are numerous criteria that should be considered when you are deciding on which annuity may be best for you and your specific needs. In any case, though, annuities should always be considered to be long-term endeavors – and because of that, fixed annuities can often times be more appealing to people who are seeking ongoing retirement income as versus a high return. However, even though the American National Palladium Century 1 fixed annuity does offer some attractive features, it may also still fall short – especially when compared to some of the other options that may be available to you. So, if you are wondering whether or not the American National Palladium Century 1 fixed annuity is right for you – or if you still have any additional questions that you need some assistance with in terms of making your decision – then feel free to reach out to us via our secure contact form here. American National Palladium Century

Any Additional Questions on the American National Palladium Century 1 Annuity? Did You Happen to Notice Any Mistakes in this Review?

We realize that this annuity review was rather lengthy, so thank you for bearing with us. If you did find the review to be beneficial, please feel free to spread the word and share it with others as they, too, may also find the information in it to be useful. Also, we realize just how often the information on annuities can change or be updated. With that in mind, if you did happen to notice any information that needs to be corrected as you read through the review, please let us know and we will be happy to get that taken care of. If you are still concerned about whether this annuity is right for you, or if this annuity review caused you any confusion, please reach out to us with your concerns or any other questions that you may have. Are there any other annuities that you would like to see reviewed on our website? No problem! Our team of highly trained annuity “geeks” will get on it. Just simply click here and let us know the name of the annuity (or annuities) that you are interested in learning more about and we will work to get that information on our side as quickly as possible. Best, The Annuity Gator American National Palladium Century 1 Annuity

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