Employees Life Company was founded in 1946 and first opened its doors in downtown Chicago, Illinois. Over the past 70 plus years, they have seen many changes, including three moves, two mergers, and one significant name change. Today they are known as ELCO Mutual Life & Annuity and are located in Lake Bluff, IL.

ELCO Mutual

Should you pass away before the end of your contract, the accumulated value of the annuity, including interest, will be passed to your beneficiary without any charges or fees. If the beneficiary is your spouse, he/she can continue the contract as the owner for the remainder of the term.

At the end of the contract term, you'll have a 30-day window where you'll be able to withdraw the money invested, reinvest it in another fixed annuity, or turn it into guaranteed income via annuitization. If you do nothing, any money left in the contract will earn a guaranteed minimum interest rate, accessible with no surrender charges. Any withdrawals made before you turn 59 1/2 (other than rollovers to an IRA) will be charged a 10% penalty by the IRS.

Only

Guardian Eagle Single Premium Deferred Annuity

Savings

Investment Account

401(k)

401(a)

403(b)

457(b)

Roth IRA

1035 Exchange

Check

Wire Transfer

Checking

Roth IRA Exchange

Traditional IRA Exchange

At the end of the contract term, you'll have a 30-day window where you'll be able to withdraw the money invested, reinvest it in another fixed annuity, or turn it into guaranteed income via annuitization. If you do nothing, your contract will assume a 5-year surrender charge period and earn a rate designated at the time of renewal. Any withdrawals made before you turn 59 1/2 (other than rollovers to an IRA) will be charged a 10% penalty by the IRS.

At the end of the contract term, you'll have a 30-day window where you'll be able to withdraw the money invested, reinvest it in another fixed annuity, or turn it into guaranteed income via annuitization. If you do nothing, contracts for 2-3 year terms will assume a 5-year surrender charge period and earn a rate designated at the time of renewal. For contracts with 4-5 year terms, any money left in the contract will earn a guaranteed minimum interest rate accessible with no surrender charges. Any withdrawals made before you turn 59 1/2 (other than rollovers to an IRA) will be charged a 10% penalty by the IRS.

Fixed Annuity Products

Guardian Eagle Single Premium Deferred Annuity

Guardian Eagle Single Premium Deferred Annuity

Guardian Eagle Single Premium Deferred Annuity

Guardian Eagle Single Premium Deferred Annuity

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