ELCO Mutual receives financial strength rating upgrade from A.M. Best

ELCO Mutual Life & Annuity (ELCO) has been upgraded to B++ by A.M. Best. This financial strength rating (FSR) is assigned to insurers that have, in A.M. Best’s opinion, a good ability to meet insurance obligations.*

President & CEO of ELCO David Bruce said:

“We are pleased to receive our B++ rating from A.M. Best, the insurance industry’s leading rating agency. This upgrade recognizes management’s successful execution of several of the company’s key strategic initiatives, the value of ELCO’s agent partnerships, and the exceptional customer service provided by our experienced staff.”

ELCO is an industry leader in sales of Medicaid Compliant Annuities as well as providing life and annuity products for retirement and estate planning. A mutual company serving customers for over 77 years, ELCO will continue to cultivate, nurture, and enhance long-standing relationships with insurance professionals and policyholders by being a trusted partner providing tailored solutions to achieve financial goals.

*The B++ rating represents the higher end of the Good category and is the 5th highest of 13 ratings on A.M. Best’s FSR scale.

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.