Fixed annuity review and rates

Guardian Eagle Flex

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 Because this annuity is tax-deferred, your money is not taxed until it’s withdrawn, so it will keep accumulating over time with a guaranteed minimum crediting interest rate.

Product Details
Issue Ages: 18-90
Minimum Premium: $100
Maximum Premium (per year): $100,000
Per Family: $500,000
Additional premiums (subsequent payments) accepted as a Lump Sum or periodic payments.
Qualified and Non-Qualified options available.

Liquidity Options
Interest: Available at any time after the first 30 days. Interest withdrawals are taken without incurring withdrawal charges. 
Penalty Free Withdrawal: 15% of the principal is available once per contract year, beginning in the second contract year. 

Interest Rates

Guaranteed Years Surrender Years Guaranteed Yield Current Yield
1 5 1.5% 3.5%
ELCO Mutual Life and Annuity
Founded: 1946
A.M. Best: B+
S&P: B+
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 15%
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, Inherited IRA, and NQ Stretch