If you’re interested in working with ELCO Mutual but are still looking for additional information about our company or process, read the answers to some of the questions we most commonly receive from agents.
ELCO Mutual does business in 43 states and the District of Columbia. We do not currently do business in the states of Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, or Vermont.
Product availability varies by state.
ELCO Mutual requires that you have at least $1,000,000 of liability coverage in order to be contracted. If you have any questions, please contact us.
ELCO Mutual utilizes a simplified underwriting process that doesn't require any medical exams. We use basic health questions and a quick phone call to determine eligibility and price.
ELCO Mutual has an average turnaround time of approximately 48-72 hours. These times will vary depending on the amount of information we receive, the debit check, and the background investigation.
Contracting directly with ELCO Mutual is generally allowed for some of our products. However, there are certain products that require the use of our national marketers. For more information, please contact us.
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 ReadingNot 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