To our ELCO community:
Topics: News
The 2023 tax season is approaching, and with that comes confusing paperwork. If you currently hold an annuity with ELCO Mutual, you should expect to receive a 1099-R or 5498 from us in the mail. To help you better understand these forms, we've created a guide for each that explains different sections of the forms and answers some common questions we receive during tax season. If you'd like to learn more about your 1099-R or 5498 click the links below and download the guides today!
Every March, we think about the contributions that women have made in our society. We think about their impact on our lives and what we could learn from them. What started as just International Women’s Day, which is still celebrated on March 8th, has now expanded into a whole month titled “Women’s History Month.” We have had the honor of many women making history in the walls of ELCO Mutual. To kick off Women’s History Month, we want to highlight the matriarch of ELCO: Patti Bruce.
Topics: News
On March 2nd Corporate Secretary Richard Leach will be retiring and starting a new chapter in his life. His 42 years of service are much appreciated by ELCO, agents, ELCO partners, and policyholders.
Topics: News
It is with a heavy heart that we announce the passing of our fearless leader, William D. Bruce. He passed away on Friday, February 11, 2022. He was 93 years young. It is only fitting that he waited until 1:00 PM to pass away, as ELCO closes at 1:00 PM on Fridays. W.D. lived and breathed ELCO and he taught us all the meaning of hard work. He worked for ELCO for 68 years, sitting as ELCO’s CEO for 43 years. W.D. also holds the record of 42 years without using a sick day, a testament to his dedication to ELCO Mutual. His ELCO story is an inspiring one about ...
Topics: News
In honor of National Golf Month, we want to take this time to celebrate ELCO’s most experienced golfer, W.D. Bruce. He is our Chairman Emeritus and golfed for over 50 years. What started as a hobby quickly became a passion of his and sparked an annual event held at ELCO Mutual celebrating his favorite sport and former leadership.
Topics: News
We are pleased to announce that AM Best, the world’s most tenured insurance rating agency, has upgraded ELCO Mutual’s financial strength rating from a B to B+.
Topics: Life Insurance, News, Financial Strength Rating, AM Best
Each year on the first Wednesday of every month, people come together to celebrate the global phenomenon known as Global Running Day. What started as just another national day in 2009 (originally known as National Running Day) quickly evolved into this worldwide celebration very well-known not just in the running community but to anyone who wants to be more active. Running might be seen as an individual sport, but this could not be further from the truth. Half marathoner and ELCO’s Marketing Specialist, Jessica Weis, says, “The running community is so ...
May is Mental Health Awareness Month. We hear all the time about how we can take care of our physical bodies. Doctors tell us to eat healthy, exercise, and even set aside time to get our annual physical. Understandably, we often forget to take care of our emotional and psychological state of mind. Our physical and mental well-being go hand in hand and lead to us being the best version of ourselves. In honor of this important topic, ELCO is bringing you tips on how you can improve your mental health.
ELCO Joins the Fight Against Hunger Due to the pandemic, Feeding America has estimated that up to 1 in 9 people in our community face hunger, including 1 in 6 children. In response to this, Northern Illinois Food Bank held their annual Fight Against Hunger 5k/10k. We at ELCO were thrilled to sponsor the event and have a few employees participate. We are proud of our employees who were willing to go the distance for such a good cause. Race participants were limited this year and race organizers followed all CDC guidelines including a mask policy, staggered ...
Topics: News
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
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