ELCO Mutual Guardian Eagle 10
Current Fixed Rate
Rate Effective Date October 1, 2026
The ELCO Mutual Guardian Eagle 10 is a straightforward ten-year fixed annuity that offers access to 15% of the principal in all years, including year 1. After 10 years, owners can maintain their account (penalty-free) at a non-guaranteed interest rate, withdraw, transfer, annuitize, or renew for a new guaranteed term.
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 monthly withdrawals of accrued interest and 15% of the remaining principal in all years, including year 1. The full contract value is available at death, with 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 (Multi-Year Guaranteed Annuity)
Term
10 Years
Free Withdrawals Yr1 / Yr2+
15% / 15%
Additional Withdrawal Information
Accrued interest is available anytime, plus one annual penalty-free withdrawal of 15% of remaining principal. For the 10-year MYGA, the 15% withdrawal is available after 30 days.
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0%
Maximum Age
85
Minimum Investment
$10,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
This is a long term ten-year annuity with no MVA. It can be a great policy to purchase when long term interest rates are near their peek. Additional funds can be added in the first 90 days after policy issue. The contract also offers 15% free withdrawals all years.
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.