Guardian Eagle (7-Year)
Guardian Eagle (7-Year)
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Ratings:
- A.M. Best B++
- Comdex 39
About Product
Premium Type
Single Premium with Additional
Fee withdrawal:
15% (From Year 2)
Market Value Adjustment
No
Return Of Premium
No
Minimum Contribution
$5,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, Inherited IRA, and NQ Stretch
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 7 years | 5% |
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 These funds are tax-deferred, so you won’t pay any taxes on this money until it is withdrawn.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.
Liquidity Options
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.
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
Riders
No Riders for Guardian Eagle (7-Year) annuity.
Waivers
No Waivers for Guardian Eagle (7-Year) annuity.
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