About ELCO Mutual

Providing Life Insurance and Annuities Since 1946

For over 75 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.


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.


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.

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Hear From Our Agents

“As with any good and reputable business, you need a balance of good products and good service. ELCO provides me with the right products at the right time to fill the needs of my clients. Not only is the service prompt, but it is outstanding in all areas.”

- Kevin S.

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

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