Annual Policyholder's Meeting Change

During the beginning of 2020, ELCO Mutual's Board of Directors met for their quarterly meeting. Many positive changes came from this first meeting as ELCO Mutual saw new officers elected and added a new member to its team. In addition to these developments, another adjustment was made.

The Annual Policyholder's Meeting will now take place on the first Thursday of every March, starting at 2:00 pm local time. This new meeting time goes into effect 2021 as the next annual meeting will take place on March 4, 2021.

The common question many of us hear is, "How does this affect me?" Well, in most cases, it doesn't. The only difference is when the meeting occurs each year, which was previously outlined in the policy. Because the date and time were depicted, ELCO Mutual sent an endorsement to its policyowners to notify them of the change and to provide them with the new, most up to date information.

If you received a letter, please make sure to attach it to our policy/contract for your records. As mentioned before, the change does not affect any policies or contracts outside of the meeting date and time.

If you are a policyowner or an agent, please do not hesitate to call ELCO Mutual's home office with further questions.

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.