Guardian Eagle

Guardian Eagle Annuity is 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 These funds are tax-deferred, so you won’t pay any taxes on this money until it is withdrawn.

All of ELCO’s MYGAs are purchased with a single premium (a lump sum). Contract owners do have 90 days to make additional contributions to their annuity, but no additional funds can be added once that window passes. 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.

Continuation Option
The one, two and three-year contracts offer a 30-day window to continue the contract at a designated rate, while assuming the five-year withdrawal schedule, at the end of the initial term. During this window, clients can also withdraw the funds or transfer them into a new contract. The continuation rate (subsequent guarantee rate) for the one, two and three year term is designated at the time of sale.

Current Rollover Rates Under The Continuation Option
1 YR: 5.50%
2 YR: 5.50%
3 YR: 5.50%

Liquidity Options