Company Information
Company Name
ELCO Mutual Life
Product Name
ELCO Mutual Guardian Eagle 10
Description
This is a straightforward ten-year annuity offering access to interest gains as well as 15% of the annuity principal in all tern years. After ten years, the entire account is available for withdrawal or transfer. This account is a good choice for those looking to lock in higher rates for one of the longest terms available.
AM Best Rating
B++
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
15% / 15%
Rate
5.00%
Term
10 Years
Minimum Investment
$ 10,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0%
What We Like About This Annuity
This is a long term ten-year annuity with no MVA. It can be a great policy to purchase when long term interest rates are near their peek. Additional funds can be added in the first 90 days after policy issue.
Notable Features
This annuity offers 15% withdrawals of the principal in all ten years. It is one of the most liquidy MYGAs available. The full contract value is available at passing.
Other Popular Products
ELCO offers flexible premium and Medicaid compliant annuities. Additionally, they specialize in unique whole life insurance policies with living benefits and final expense plans.
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About ELCO Mutual Life & Annuity
ELCO Life and Annuity is a mutually held company doing business since 1946. They are known for consumer-friendly products, safety and stability, and reliable policy service for consumers.
They offer annuities and life insurance in 44 states and the District of Columbia. Currently, they do not do business in Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, or Vermont. Product availability can vary by state.