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Discover the Power of Annuities!

Planning for a secure financial future starts now, and annuities are here to help! With an annuity, you can earn tax-deferred interest and create a steady stream of income that ensures a comfortable retirement lifestyle. This tool is a guaranteed contract between you and ELCO Mutual, acting as a long-term retirement vehicle to safeguard you from outliving your hard-earned money. ELCO Mutual can provide annuities for qualified and non-qualified plans.


Choosing the right annuity for you is easy! Whether you prefer a one-time lump sum payment or a series of contributions over time, we've got you covered. When the time is right for you—be it right away or down the road—you can start receiving tax-deferred disbursements. Rest easy, knowing you'll always have a reliable source of income.

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Annuities We Offer

Prepare for a Rewarding Retirement!

At ELCO Mutual, we offer annuity products that perfectly align with your current budget. Whether you're ready to fund your annuity upfront or prefer to pay over time, we have the ideal product to help you embark on your journey towards a worry-free retirement. Get in touch with us today, and let's pave the way to your prosperous retirement!

Flexible Premium Deferred Annuities

This annuity gives you the choice of making one contribution or a series of payments.

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Single Premium Deferred Annuity

This annuity is funded by a single payment and grows with compound interest over a period of time.

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Medicaid Compliant Annuity

A single premium immediate annuity that can help accelerate financial eligibility for Medicaid benefits.

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Welcome to Guaranteed Peace of Mind!

Guaranteed terms, rates, and income–that's what our annuities are all about! Say goodbye to retirement stress with these flexible options tailored to meet your unique needs. Need to make additional contributions or extend your terms? No problem! We've got you covered to ensure you feel secure and prepared for the future.

Older people looking at Flexible Premium Deferred Annuity

Product Availability - Made Just for You!

You're one of a kind, and your life insurance policy with living benefits should be too. Our products cater to a wide variety of lifestyles and income levels, but we understand choosing the best fit can be difficult. Don't worry, we're here to help! Your current budget and future goals are essential factors in finding the perfect annuity for your financial success. Let our expert team guide you to your ideal match. Get in touch with us today, and let's embark on this journey together!

Is ELCO Mutual available in your state?

Click on your state to view all the available products.

* Qualified funds only.
† Deposit type only.

Download Our Free Guide

Everything You Need to Know About Deferred Annuities

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Flexible Premium Deferred Annuity

Guardian Eagle Flex Annuity

A flexible premium deferred annuity is a simplified product offering that is used to grow your money over time. While most annuities only allow for a single payment, this flexible product gives you the choice of making just one contribution or a series of payments—whichever better fits your budget. Because this annuity is tax-deferred, your money is not taxed until it’s withdrawn, so it will keep accumulating over time with a guaranteed minimum crediting interest rate.
Older people looking at Flexible Premium Deferred Annuity

Who qualifies for a flexible premium deferred annuity?

This product may be a good choice if you’re looking to grow your savings, prepare for retirement, and ensure future financial stability. The maximum issue age is 90 years old. Check out our available rates by downloading our rate card.
Download a Copy of the Rate Card

Single Premium Deferred Annuity

Guardian Eagle Multi-Year Guaranteed Annuity

A single premium deferred annuity is funded by a single payment and allows your money to grow over a period of time with compound interest. This means the interest builds on the amount that has already accrued, so the longer your money remains untouched, the more opportunity it will have to accumulate. These funds are tax-deferred, so you won’t pay any taxes on this money until it is withdrawn.

Download Brochure Rate Card
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Current MYGA Rates

Plan

1-Year

2-Year

3-Year

5-Year

7-Year

10-year
Initial Guaranteed Rate (APY*)

4.50%

4.50%

4.50%

4.85%

5.00%

5.00%

*Annual Percentage Yield

Products Details

Flexible Premium Deferred Annuity
Single Premium Deferred Annuity

Why choose a flexible premium deferred annuity?

This annuity gives you the ability to customize your retirement planning strategy and ensure that you are receiving continued growth for later in life. Additionally, you can open this annuity with as little as $100.
You may choose to contribute in many ways—the amount and frequency of each contribution is entirely up to you. Premium contributions can be as little as $100 with the total amount being as high as $100,000 per year (premiums exceeding $100,000 will require home office approval).
The longer your money grows, the more you will receive when it is withdrawn. We offer free withdrawal of interest after the first 30 days following your purchase, and 15% penalty-free withdrawal of the principal once per contract year after the first contract year. You may withdraw your money at any time; however, there is a withdrawal penalty period for the first five years of your contract.

Years 1-4: 5% charge
Year 5: 1% charge
Year 6 and beyond: 0% charge
The Guardian Eagle Flex has a 4.25% APY current crediting interest rate. This rate is subject to change, but will not drop below the guaranteed minimum of 3.00% APY.

Why choose a single premium deferred annuity?

This annuity ensures you will have money for later in life, and it provides great opportunities for accumulation of your contributed funds. In addition, Guardian Eagle offers beneficial liquidity options. ELCO Mutual offers 15% of the remaining principal once per contract year beginning in the second contract year—compared to only 10% allowed by most other companies—and interest is free at any time.

Our Guardian Eagle plan
  • Features hard-to-beat interest rates
  • Includes no hidden fees
  • Has no market value adjustments (MVAs)
  • Provides tremendous liquidity options
  • Is supported by a company with proven longevity
  • Offers a guaranteed minimum interest rate of 3.00% APY after the guaranteed term.
  • May be annuitized at any time, free of charge
    • If annuitized, the minimum annuitization period must equal or exceed the contract’s guaranteed term.
One contribution can be made at the time of purchase, with an allowance for additional contributions within the first 90 days of the issue date. Guardian Eagle can also be funded by qualified rollovers or from the transfer of other non-qualified funds. The minimum amount required to open a  Guardian Eagle contract varies based on the term. You can open a one-year contract with a minimum of $20,000. All other guaranteed terms have a minimum of $10,000 for non-qualified funds and $5,000 for qualified funds. 
There are various Guardian Eagle plans available, and the best time to withdraw your money depends on your plan choice.

Yes, we offer plans for varying lengths of time, up to 10 years.

Why choose an ELCO Mutual annuity?

With an annuity through ELCO Mutual, you are in the driver's seat, which means the choices are yours. Our annuities are designed with you in mind, so we offer different terms and interest rates to suit your style.

An ELCO Mutual annuity can help you accumulate funds without exposure to the risks you may face with stocks. All of our annuities are available for non-qualified as well as individual retirement accounts (IRAs). Some of our annuities are also available as Roth IRA plans.

ELCO Mutual and its representatives are not legal or certified tax professionals. For tax and/or legal advice, please contact a licensed professional. ELCO Mutual contracts with independent licensed insurance producers and does not guarantee nor certify them as financial planners. Not insured by the FDIC or associated with any government program or agency. Annuities are not associated with a bank. Withdrawals taken from annuities before the age of 59 1/2 are subject to the IRS's 10% excise tax. Individual Retirement Accounts (IRAs) cannot be opened past the age in which Required Minimum Distributions (RMDS) begin. Dividends are declared by the company's board of directors and are not guaranteed. When purchasing a single premium whole life policy, please note that the policy is a Modified Endowment Contract (MEC). Any distributions taken by the owner may be taxable (including from the accelerated death benefit rider). Death benefits for life insurance contracts are contingent on any due premiums being paid. The information on this website is intended for informational and educational purposes only and is not intended to provide investment advice or a recommendation. Clients seeking advice should consult a licensed professional. All life insurance policies and annuities are underwritten and issued by ELCO Mutual Life and Annuity. Also known as ELCO Mutual Life and Annuity Company in Florida. Policy Forms: Platinum Eagle: (ICC19-SPL-19), Golden Eagle: (ICC19-WLP-19), Silver Eagle: (ICC19-FE19, ICC21-GBWL21, ICC19-MWL19, ICC21-GIWL21m ICC21-SPLR21), Preneed: (PNMPSI20, PNMPGI20, PNSPL20), DFD: (DFD21, DFD0113), Presidio Plus: (ICC21-TSPL21), Guardian Eagle Single Premium: (ICC19-MYGA[term length]-19), Guardian Eagle Flexible Premium: (ICC16-FPA16), and Immediate Annuities: (SPIA11 and ICC17-AIFXB17). Policy forms may vary by state.
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