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3 min read

What You Need to Know About Riders

Different types of life insurance are designed for different purposes, such as to replace the income of a breadwinner, pay off debt, or cover final expenses. Often, it’s useful to have a combination o...

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Aug 13, 2020 | 5 min read

The Ins and Outs of Underwriting for Life Insurance

Underwriting for life insurance can be an important part of qualifying for a life insurance policy. Some insurers may not want to offer a li...

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Feb 26, 2020 | 3 min read

Benefits of Buying Whole Life Insurance While You're Young

When you’re young, a host of opportunities are open to you. As a young adult, you set a course for where you think you want to be later in l...

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Feb 21, 2020 | 2 min read

The Difference Between Compound and Simple Interest

If you’re borrowing money, interest is the cost you pay to borrow. In the case of investment, interest is a way invested funds can generate ...

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Dec 11, 2019 | 4 min read

5 Things You Should Know If You’re Considering Whole Life Insurance

When you’re shopping for life insurance, you have a lot of choices. Whole life insurance can be an attractive option because it can build ca...

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Apr 25, 2018 | 5 min read

An Introduction to Life Insurance

Buying life insurance is about as exciting as buying your first minivan and as depressing as watching the movie Marley and Me. Still, owning...

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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. 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 the age in which Required Minimum Distributions (RMDS) begin. 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, ICC21-GBWL21, ICC19-MWL19, ICC21-GIWL21m ICC21-SPLR21), Preneed: (PNMPSI20, PNMPGI20, PNSPL20), DFD: (DFD21, DFD0113), Presidio Plus: (ICC21-TSPL21), 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.
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