Providing Life Insurance and Annuities Since 1946

For over 70 years, ELCO Mutual Life and Annuity has been providing our customers service, stability, and protection. When the company was founded, it was called Employees Life Company and was located in downtown Chicago, Illinois. Over the years, the business has seen many changes—two mergers and several relocations, to our current home of Lake Bluff, Illinois—but our mission has remained the same: to help you grow and protect your hard-earned funds.

What Sets Us Apart

At ELCO Mutual, we take pride in the fact that every call to our office is answered by a real person, which is a trend that seems to be disappearing. We’ve been servicing the senior market for over 30 years and plan on continuing that tradition for years to come. We offer an array of products that can be used to help you prepare for retirement, including our line of multi-year guaranteed tax-deferred annuities and our unique portfolio of life insurance products. In addition to servicing the senior market, we also provide policies for every age group. We have the ability to quickly create new products, which is a strength that has helped establish us as a competent, successful partner for your insurance and annuity needs.

What is a mutual company?

Unlike stock-based companies, a mutual company is an organization completely owned by its policyholders. This is why we treat every client like they’re a part of our ELCO Mutual family. Any profits we accumulate can contribute to an annual dividend that all policyholders with participating contracts are eligible to receive. Unlike stock companies, which send their dividends to investors, we send our dividends right back to you.

Our Process

Making Financial Decisions and Retirement Solutions Simple

We are proud to offer a variety of annuity and life insurance products that accommodate a vast array of lifestyles and financial statuses. Find out which products are available in your state and contact us today to get started on the path to your financial future.

Annuities

Insurance Policies

A CLEAR PROCESS DESIGNED FOR YOU

You want to choose the best policy for your needs, and we want to make that process easy. That’s why we have created contracts that are simple to read, so you understand exactly what you’re getting. We also value transparency; there are no tricks or hidden fees.

IS ELCO MUTUAL IN MY STATE?

ELCO Mutual is authorized to conduct business in 43 states. We do not currently operate in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, or Vermont. Our available product offerings vary by state.

Hear From Our Customers

“As ELCO’s pre-need marketing agency, and drawing on past experience with other pre-need insurance carriers both as agents and funeral home employees, without a doubt there is no other company that places its focus primarily on policyholders. The funeral homes that make the choice to use ELCO are doing so because they are interested in gaining the best returns for their families, which ultimately, means the funding for funerals is going to be there when needed.”

- Jim and Julie Palm

Our Financial Officers

Each year, our policyholders elect our officers, who continue to serve the company's best interests. While investing our funds, paying claims, answering policyholder questions, and hiring and appointing new field representatives, our officers make each decision with the overall welfare of the company in mind. Collectively, they have hundreds of years of executive experience running the insurance operation.

Meet Our Officers

Want to learn more about ELCO Mutual?

Get in touch.

Contact a member of our team today to learn how we can help you.

ELCO Mutual and its representatives are not legal or certified tax professionals. For tax and/or legal advice, please contact a licensed professional. ELCO Mutual contracts with independent licensed insurance producers and does not guarantee nor certify them as financial planners. Continue Reading Not insured by the FDIC or associated with any government program or agency. Annuities are not associated with a bank. Withdrawals taken from annuities before the age of 59 1/2 are subject to the IRS's 10% excise tax. Individual Retirement Accounts (IRAs) cannot be opened past age 70 ½. Dividends are declared by the company's board of directors and are not guaranteed. When purchasing a single premium whole life policy, please note that the policy is a Modified Endowment Contract (MEC). Any distributions taken by the owner may be taxable (including from the accelerated death benefit rider). Death benefits for life insurance contracts are contingent on any due premiums being paid. The information on this website is intended for informational and educational purposes only and is not intended to provide investment advice or a recommendation. Clients seeking advice should consult a licensed professional. All life insurance policies and annuities are underwritten and issued by ELCO Mutual Life and Annuity. Also known as ELCO Mutual Life and Annuity Company in Florida. Policy Forms: Platinum Eagle: ICC19-SPL-19, Golden Eagle: ICC19-WLP-19, Silver Eagle: ICC19-FE19 and ICC19-MWL19, Preneed: PNGI-02 and PMP99R2, Guardian Eagle Single Premium: ICC19-MYGA[term length]-19, Guardian Eagle Flexible Premium: ICC16-FPA16, and Immediate Annuities: SPIA11 and ICC17-AIFXB17. Policy forms may vary by state. View Less

About ELCO