ELCO Mutual Life and Annuity is a life insurance and annuity company that has been servicing the needs of many since 1946. ELCO offers 3 annuity types including FPDA, SPDA, and SPIA.
ELCO has an AM Best Rating of B.
Elco's Flexible Premium Tax Deferred Annuities are available in the following states: AL, AR, AZ, CO, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, NC, NE, NM, OH, OK, PA, TN, TX, UT, WI, AND WV.
Elco's Multi-Year Guaranteed Deferred Annuities area vailable in the following states: AK, AL, AR, AZ, CA, CO, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NM, NV, OH, OK, PA, SC SD, TN, TX, UT, WI, WV, AND WY.
Elco's Single Premium Immediate Annuities are available in the following states: AL, AR, AZ, CO, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NM, NV, OH, OK, PA, SC, SD, TN, TX, UT, VA, WI, AND WY.
Flexible Premium Tax Deferred Annuity (FPDA)
One of the most notable advantages of ELCO’s Guardian Eagle annuities may come from what isn’t in the contract. These annuities do not contain Market Value Adjustments (MVAs) or interest rate reductions for the contract’s benefits. ELCO designed its deferred annuities to be straightforward and provide all benefits at no additional cost to the client. These annuities offer many more options as well, such as:
Single Premium Deferred Annuity (SPDA)
ELCO’s SPDA’s offer the additional flexibility of allowing additional premiums during the first 90 days of the contract.
Short terms of 1, 2, 4 and 5 year contracts are available as well as a longer term 7 year and ten-year plans. Interest yields are generally higher with the longer term contracts.
Another advantage of ELCO is that the interest rate is guaranteed for the term you select. This is a great feature which allows you to know exactly what the accumulation results will be from your invested funds.
An Immediate Annuity is purchased with a premium up front paid to an insurance company in exchange for payments made to the purchaser (or designated payee) by the insurance company. Payments can be made to you in a flexible manner. You may choose monthly or annual payments.
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