ELCO Mutual Guardian Eagle 1
Current Fixed Rate
Rate Effective Date October 1, 2026
The ELCO Mutual Guardian Eagle 1 is a short, one-year annuity policy that matures after 12 months. During a 30-day window at maturity, owners can fully withdraw all of their funds – or transfer them into a new contract with ELCO or any other investment company.
Alternatively, owners can continue the contract at a designated rate while assuming the five-year withdrawal schedule. The continuation rate (subsequent 4-year guaranteed rate) is declared at the time of sale and is currently 5.00%.
Free interest withdrawals are allowed during the 12-month maturity window. The policy is 100% liquid after 12 months, and the full account value is available for withdrawal. Additional contributions are permitted within the first 90 days of the contract. No additional funds may be added thereafter.
Qualified and non-qualified funds are accepted, including NQ Stretch accounts and Inherited IRAs. There are no surrender charges if the owner/annuitant passes away during the maturity window.
More Annuity options from: ELCO Mutual Life
Notable Features
This annuity offers withdrawals of the accrued interest each month. The full contract value is available at death, and there is no Market Value Adjustment. The policy also offers a unique continuation feature with a declared rate at the time of purchase.
Nursing Home, Terminal Illness, and Annuitization riders are offered at no additional cost for added liquidity. Please see the brochure and contract for more details.
Additional Details
Product Type
MYGA
Term
1 Year
Free Withdrawals Yr1 / Yr2+
Int / 100%
Additional Withdrawal Information
This very short one year annuity allows for free interest withdrawals after 30 days. At the end of the one-year term the account offers a 30-day window to withdraw all funds (principal and interest) with no penalty. It is 100% liquid after 12 months.
Surrender Schedule
5%, 0%
Maximum Age
90
Minimum Investment
$20,000
Maximum Investment
$500,000 without prior approval
What We Like About This Annuity
This is a short, one-year annuity with a competitive rate of return. Additional funds can be added in the first 90 days after policy issue. The continuation feature allows consumers to lock in a potentially higher rate for a full five-year term after the 12 month maturity window.
Other Popular Products
ELCO offers flexible premium and Medicaid-compliant annuities. Additionally, they specialize in unique whole life insurance policies with living benefits and final expense life insurance plans for burial coverage.
About ELCO Mutual Life
ELCO Mutual Life
AM Best Rating: B++ Good (5th of 13 ratings)
https://www.elcomutual.com/
About ELCO Mutual Life & Annuity
ELCO Life and Annuity is a mutually held insurance company doing business since 1946. They are known for consumer-friendly products, safety and stability, and reliable policy service for consumers.
Their fixed annuities are popular because of their generous liquidity options, lack of a Market Value Adjustment feature, and shorter durations with continuation options. They are one of only a few companies to offer a one-year annuity term.
They offer annuities and life insurance in 44 states and the District of Columbia. Currently, they do offer policies in Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, or Vermont. Product availability can vary by state.