ELCO Mutual Life & Annuity

Why ELCO Annuities?

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.

State Availability

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.

Guardian Eagle Flex

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:

• Free interest withdrawals at any time after 30 days
• A 15% penalty free withdrawal on the principle of the contract.
• Both flexible and single premium payment options.
• Qualified (IRA and Roth IRA) and non-qualified options.
• The ability to generate an income stream at any time.

Guardian Eagle

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.

Immediate Annuities (SPIA)

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.

• Payments for Life. This option insures income for you for your entire lifetime, regardless of how long you live.
• Payments for Life with a guaranteed number of payments.  This option will make payments to you for your lifetime. It also allows you to select a guaranteed number of payments that will be paid to you or your beneficiary(s) if you pass before the guaranteed number of payments has been made.
• Payments for a Fixed Period. This option lets you select the number of payments you want to receive in exchange for your premium.  If you pass before all payments have been made, the remaining payments will be made to your beneficiary(s).

New to Annuity Sales?

Annuity sales are a huge opportunity for independent agents in the senior market. If you want to learn how to sell annuities to seniors, you've come to the right place!

Check out our complete guide here: The Ultimate Guide to Selling Annuities In the Senior Market

Also, check out this video from annuity all-star, Michael Sams:

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