Yes, we offer plans for varying lengths of time, up to 10 years.
This annuity allows the owner to select from a variety of options once the guaranteed term concludes. Owners have a 30-day window after the 24 month guaranteed period to take a total free withdrawal of principal and interest, open a new annuity, transfer the funds to another company, or annuitize the contract into an income stream. If none of the options are selected, the policy will continue as a 5-year plan at an interest rate determined at the time of sale. The contract will assume the predetermined rate for the remaining three years and have the same withdrawal charges as the 5-year plan. Additional premiums may be added during the first 90 days after policy issue. The maximum issue age for this plan is 90 years old (age-nearest-birthday).
This plan includes
Form #ICC19-MYGA2-19
This annuity allows the owner to select from a variety of options once the guaranteed term concludes. Owners have a 30-day window after the 36 month guaranteed period to take a total free withdrawal of principal and interest, open a new annuity, transfer the funds to another company, or annuitize the contract into an income stream. If none of the options are selected, the policy will continue as a 5-year plan at an interest rate determined at the time of sale. The contract will assume the predetermined rate for the remaining two years and have the same withdrawal charges as the 5-year plan. Additional premiums may be added during the first 90 days after policy issue. The maximum issue age for this plan is 90 years old (age-nearest-birthday).
This plan includes
Form #ICC19-MYGA3-19
Additional premiums may be added to this plan during the first 90 days after policy issue. The maximum issue age is 90 years old.
This plan includes
Form #ICC19-MYGA5-19
Additional premiums may be added to this plan during the first 90 days after policy issue. The maximum issue age is 85 years old.
This plan includes
Form #ICC19-MYGA7-19
Additional premiums may be added during the first 90 days after issue. The maximum issue age for this plan is 85 years old.
This plan includes
Form #ICC19-MYGA9-19
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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. 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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Talk to a Person: 800.321.3526
Agency: 888.240.3351
Policy Services Fax: 847.295.6043
New Business Fax: 847.295.6342
Claims Fax: 847.295.1145