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Recent News About Annuities

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5 min read

Tax Deferral: The Power of Compound Interest | ELCO Mutual

The old saying “There are two things you can’t avoid: Death and taxes” is a popular phrase for a reason. However, while the Internal Revenue Service (IRS) is often strict with taxation-related issues,...

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Apr 19, 2023 | 5 min read

Tax Deferral: The Power of Compound Interest | ELCO Mutual

The old saying “There are two things you can’t avoid: Death and taxes” is a popular phrase for a reason. However, while the Internal Revenue...

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Feb 09, 2023 | 0 min read

1099 and 5498 Informative Guides for Tax Season

The 2024 tax season is approaching, and with that comes confusing paperwork. If you currently hold an annuity with ELCO Mutual, you should e...

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Better Future Secondary White-Gold

ELCO Mutual has been assisting seniors with our financial planning since 1946 and counting. Our goal has remained the same throughout our long history: to provide personalized service, consumer friendly products, and stability for our policyholders.

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Address:
916 Sherwood Drive
Lake Bluff, IL 60044

ELCO Business Hours:
Monday - Thursday 8 am - 4:30 pm (CST)
Friday 8 am - 1 pm (CST)

Talk to Us: 800.321.3526
Agency: 888.240.3351
PHS Fax: 847.295.6043
NB Fax: 847.295.6342
Claims Fax: 847.295.1145

© 2025 All rights reserved.

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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