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Guardian Eagle

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 These funds are tax-deferred, so you won’t pay any taxes on this money until it is withdrawn.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

Continuation Option
The  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 two and three year term  is designated at the time of sale.

Current Rollover Rates Under The Continuation Option
2 YR: 4.00%
3 YR: 4.40%

Liquidity Options 
  • Free Withdrawal: 15% of the principal (remaining principal, not original) once per contract year beginning in the second contract year.
  • Accrued Interest is available at any time

MYGA Interest Rates

Annual percentage yield (APY)
earned over the investment term
1 years 4.75%
2 years 4.9%
3 years 5%
4 years 4.05%
5 years 5.25%

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