Guardian Eagle
Highlights
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Premium Type
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Single Premium with Additional
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Max age Qualified
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90
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Minimum Contribution
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$5,000
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Maximum Contribution
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$500,000
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Market value adjustment
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Return of premium
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Free withdrawal
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1st year: -100% 2nd+ year: 15% |
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Types of funds
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Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, Inherited IRA, and NQ Stretch |
Brochure
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Open brochure |
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
- 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
Find out if the Guardian Eagle is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 1 years | 5% |
| 2 years | 5% |
| 3 years | 5.25% |
| 4 years | 4.05% |
| 5 years | 5.5% |
Riders
No Riders for Guardian Eagle annuity.
Waivers
Nursing Home
A nursing home feature can waive all withdrawal charges for qualifying conditions at no additional cost.
Terminal Illness
A terminal illness feature can waive all withdrawal charges for qualifying conditions at no additional cost.
Surrender Window
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.
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