ELCO Mutual Guardian Eagle 10
Current Fixed Rate
5.00%
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 deposits are accepted in the first 90 days of the contract. This policy can be issued with both qualified and non-qualified funds, and there are no surrender penalties upon death. This account is a suitable choice for those wanting to lock in higher rates for a longer term.
More Annuity options from: ELCO Mutual Life
Notable Features
This annuity offers 15% withdrawals of the principal in all ten years. It is one of the most liquid MYGAs available. The full contract value is available at passing.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
10 Years
Free Withdrawals Yr1 / Yr2+
15% / 15%
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. 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 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 company doing business since 1946. They are known for consumer-friendly products, safety and stability, and reliable policy service for consumers.
They offer annuities and life insurance in 44 states and the District of Columbia. Currently, they do not do business in Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, or Vermont. Product availability can vary by state.