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6 min read

Understanding Hybrid Annuities to Maximize Financial Security

If you’re making retirement plans, then you’ve probably considered annuities. But, have you considered a hybrid annuity? Annuities are designed to provide a steady stream of income through retirement,...

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Mar 07, 2024 | 6 min read

What is a Required Minimum Distribution? 7 Things to Know About RMDs

Whether you’re approaching retirement or you’re already well accustomed to your new lifestyle after working, there are important things you ...

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Feb 29, 2024 | 7 min read

What is the Role of Life Insurance for Financial Wellness?

What actions have you taken recently to ensure your financial wellness? This might include opening up a savings account, making contribution...

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Feb 22, 2024 | 6 min read

How Your Health Can Affect Your Life Insurance Premiums

In the United States, the average life expectancy is 80 years, a number that seems to be trending in the positive direction after it took a ...

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Feb 15, 2024 | 6 min read

Do You Pay Taxes on Life Insurance? All About 1099s

Once again, tax season is here. If you’re like a lot of Americans, you probably have questions about life insurance and any payouts you’ve r...

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Feb 08, 2024 | 6 min read

Weighing the Pros and Cons of Group Life Insurance

Anyone who just started a new job has likely taken a look at the included benefits. Did you notice group life insurance as an option? For so...

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Feb 01, 2024 | 7 min read

6 Benefits of Buying an Annuity

Throughout your whole career, you’ve been accustomed to regular income from your employer. Although you might’ve been saving up for retireme...

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Jan 25, 2024 | 8 min read

MYGAs vs Certificates of Deposits: What You Need to Know

The world of financial planning is complicated enough, but when options are similar, it can grow even more confusing. Long considered altern...

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Jan 18, 2024 | 9 min read

8 Frequently Asked Life Insurance Questions and Answers

Navigating life insurance options can quickly become complex. There are several policy options with different requirements for applications,...

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Jan 11, 2024 | 6 min read

Understanding Life Insurance Payouts

Life insurance policies are, essentially, agreements. When you purchase a life insurance policy, you agree to pay monthly premiums and, in e...

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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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