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American National Insurance Company Review & Ratings

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    American National Insurance Company (ANICO)

    American National Insurance Company is a publicly-traded corporation that conducts business in all 50 states and Puerto Rico. It was founded in 1905 and has become a very successful and well-rounded insurance company over the last century.

    Headquartered in Galveston, Texas, the company has more than 3,000 employees and a network of agents that stretch across all 50 states and Puerto Rico…servicing more than 5 million policyholders.

    American National also operates several wholly-owned subsidiaries to do business or underwrite policies for health, life and property and casualty insurance. American National is the ultimate parent company. 

    American National Insurance Company Ratings

    American National is rated A by A.M., and am A Rating from Standard & Poor’s, and a Comdex Score of 79. These ratings are current as of November 2020. If you’d like you can read the complete American National Best’s Credit Report and their Standard & Poor’s Rating Report for more comprehensive financial information.

    Assets & Liabilities


    American National Insurance Company Subsidiaries

    Through its subsidiaries, American National Property And Casualty Holdings, Inc., American National, also offers health, life, and property insurance.

    American national insurance company review with picture of wooden blocks spelling risk.

    American National Insurance Company
    American National Insurance Company (ANICO) was founded in 1905 and is headquartered in Galveston, Texas. American National Insurance Company sells life insurance and annuity products in all states except New York. 

    Standard Life and Accident Insurance Company
    Standard Life and Accident Insurance Company (SLAICO) focuses on selling individual ancillary products, worksite products, supplemental health insurance, and life insurance with Medicare Supplements and accounts for the majority of premiums in the individual health line. SLAICO is based in League City, Texas.

    Garden State Life Insurance Company
    Garden State Life Insurance Company (GSL) will be marketing Medicare supplement products beginning January 1, 2020, and is developing additional products for 2020 and beyond. Garden State Life Insurance Company is authorized to do business in the state of New York. Garden State is based in Galveston, Texas.

    American National Life Insurance Company of Texas
    American National Life Insurance Company of Texas (ANTEX) sells whole life and supplemental health products offered through independent agents. ANTEX is based in Galveston, Texas.

    American National Life Insurance Company of New York
    American National Life Insurance Company of New York (ANICONY) was incorporated under the laws of New York as Farm Family Life Insurance Company in 1953 and is licensed in New York and twelve other states to sell life insurance, annuities, and accident, and health insurance. 

    Farm Family Casualty Insurance Company
    United Farm Family Insurance Company
    The Farm Family group of insurance companies, headquartered in Glenmont, New York, serves the needs of policyholders with property and casualty insurance products. Farm Family has been providing insurance protection for families and businesses in rural and suburban areas of the Northeast and Great Atlantic regions since the 1950s. 

    American National Property And Casualty Company
    American National Property And Casualty Company (ANPAC®) is a property and casualty insurance company with its home office located in Springfield, Missouri. ANPAC’s Multiple Line exclusive agents offer a combination of life insurance, annuities, property and casualty insurance for personal lines, agribusiness, targeted commercial exposures, and other insurance-related services. Multiple Line agents serve individuals, families, and business owners. 

    American National Annuities

    AnnuityFeesAnnuity TypeMinimum Initial Premium
    Century Plus Fixed AnnuityLifetime Income Rider: 0.90%Fixed Annuity$5,000
    Palladium Multi-Year Guarantee AnnuityNo annual contract feesFixed Annuity$5,000
    ANICO Strategy Indexed AnnuityNo annual contract feesIndexed Annuity$0
    WealthQuest Citadel Seven Diamond AnnuityNo annual contract feesFlexible premium deferred annuity$2,000
    WealthQuest Citadel Five DiamondNo annual contract feesFixed deferred annuity$0

    ANICO Century Plus Fixed Annuity

    If you are looking for a safe and steady way to grow your savings, you may be interested in a fixed annuity. Fixed Annuities guarantee a fixed interest rate for the life of the contract, similar to a certificate of deposit (CD). 

    Working with American National, you’d have access to Century Plus. This is a single premium fixed deferred annuity. You would purchase the contract with a lump sum and earn interest until you retire and begin taking payments.

    Unlike a CD, earnings grow tax-deferred – both if you use qualified funds from an individual retirement account (IRA) or 401(k) or non-qualified money. You’ll owe taxes once you start receiving payments (or if you make an early withdrawal).

    The minimum initial premium for the Century Plus annuity is $5,000. The maximum issue age is 80. This annuity offers an interest rate enhancement of 5% for the first year. 

    At the end of each contract year, the interest rate resets, but will never be lower than the guaranteed minimum interest rate, which is based on the National Association of Insurance Commissioners (NAIC) Index and in effect for the life of the contract. We provide the current interest rate details below. 



    You have access to up to 10% of your annuity value at the beginning of each contract year without incurring a withdrawal or surrender charge.  

    For additional fees, you can add special features to your annuity contract. In the industry, these are known as riders. American National offers the Lifetime Income Rider (LIR), which must be elected at the time of purchasing the annuity. 

    The rider guarantees an enhanced interest rate (declared at the time that your contract is issued) for up to 10 years. This results in your income base being larger than your annuity value without the enhanced rate for several years. This is important because if you annuitize during those years, you will have a higher income base on which your lifetime payments are calculated.

    The Century Plus fixed annuity also comes with a death benefit that ensures that your beneficiary will receive the greater of your annuity value or surrender value of your account. 


    The Century Plus annuity has no front-end sales charges or annual contract fees. But if you withdraw more than the allowed 10% of your account value, you’ll face a surrender charge. We provide a schedule of these withdrawal fees below. 


    Palladium Multi Year Guaranteed Annuity (MYGA)

    The Palladium Multi-Year Guarantee Annuity (MYGA) provides a guaranteed fixed interest rate for periods of 5 to 10 years. Current base interest rates range from 1.85% to 2.20%. The more you invest and the longer your contract, the higher your interest rate. In some cases, American National may provide a 5% interest bump for the first year of your contract.

    You can buy an annuity with a minimum initial premium of $5,000. The maximum issue age is 85. While your money remains invested, it grows tax-deferred. This means you won’t owe taxes on your earnings until you make payments (or make an early withdrawal). 

    Within 30 days after the end of the guaranteed period, you can withdraw all your money without incurring surrender charges from American National. Or if you’re not ready to annuitize, you can extend the annuity contract at a new interest rate, which is good for a year, and minimum guaranteed interest rate, which will remain in place for the life of the contract. 

    This annuity comes with confinement and disability benefits at no additional cost. This means that should you need to be confined to, say, a nursing home for more than 30 consecutive days or become disabled, as defined by the contract, the company would waive the surrender charge on an early withdrawal.  

    The ANICO Palladium MYGA also has a standard death benefit. In the event of your death, American National would pass the full value of your annuity to your designated beneficiary without taking surrender charges or additional expenses. 

    Take note that some free features work differently in New York. 


    As with most fixed annuities, the Palladium MYG doesn’t require annual contract fees. However, American National would levy a surrender charge for early withdrawals, based on the following schedule:   


    ANICO Strategy Index Plus Fixed Index Annuity

    The ANICO Strategy Indexed Annuity (ASIA) PLUS gives you the opportunity for additional growth in line with the movement of the S&P 500 Index. Your crediting interest rate (your money isn’t actually in the stock market) then reflects the overall performance of some of the largest companies in the country. 

    The annuity also provides a 0% interest floor. This means you won’t lose money in the event the index goes down (you just won’t earn anything that year).

    American National offers two types of indexed annuities. They are the ASIA PLUS 10 and the ASIA PLUS 7. The components of both are very similar. The difference between the two is that the surrender period is 7 years for the Asia Plus 7 and 10 years for the ASIA Plus 10.  The Surrender charge period is basically the length of the contract and the time frame before you can begin taking withdrawals without incurring any withdrawal fees (surrender charges). 

    These annuities of multiple index crediting methods:

    Declared rate: American National allows you to allocate a portion of your initial premium toward a set interest rate basket, in which interest is compounded and credited daily. 

    Specified rate: This is a guaranteed minimum rate that would stay put during a one-year segment term. If the index goes up or remains the same at the end of that term, the interest earnings equal to the specified rate multiplied by the annuity value. In any other case, the company credits interest at the minimum guaranteed interest rate for indexed strategies (currently 1%). 

    Cap: The maximum interest rate you can be credited.

    Participation rate: A percentage that insurance companies set, which is multiplied by the actual return on the index to calculate the interest rate credited to your account. So if the index goes up by 8% and the participation rate is 70%, your annuity would earn 5.6% (70% of 8%). 

    Point-to-point performance with a capping strategy: This strategy credits interest based on the change in the index from its closing value at the end of the segment term to its value on the first day of the second segment term. So a “one-year-point-to-point” means the segment spans a year or the closing index value at the end of one year and the opening value of the next. The company would credit you the difference, up to a cap, or 1% if the difference is negative. 

    The table below provides current interest rates and crediting strategies: 

    ASIA Plus 7

    American National WealthQuest Citadel 7 Diamond

    The WealthQuest Citadel Seven Diamond Annuity is a flexible premium fixed deferred annuity. This means you can make additional payments after your initial premium to increase your account value. The interest rate at the time that you buy the annuity is guaranteed for two years, though the annuity can be for seven years. Here are the current interest rate terms below. 

    You can sign up for this annuity with a minimum initial premium of $2,000 for a qualified account or $5,000 for a non-qualified account. You can access up to 10% of your annuity value at the beginning of each contract year without incurring a surrender charge. 

    It also comes with a standard death benefit that provides your beneficiary with the account value on the date that proof of death is received by American National. This annuity does not have disability or confinement waivers. 

    You can annuitize or start receiving payments as of the 10th contract anniversary or on your 90th birthday. 


    The WealthQuest Citadel Seven Diamond Annuity doesn’t require any front-end sales fees or annual administrative fees. But you’d face a surrender charge if you take out more than the allowed 10%, according to the following schedule:


    Additionally, the IRS may levy a 10% penalty tax if you take money out before turning 59.5. You will also income taxes on any pretax money or tax-deferred earnings. 

    American National Life Insurance Company Contact Information

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