Guardian Eagle
ELCO Mutual Life & Annuity
5%
10-yr guarantee
15%
Free W/D
45
States
Live product data
Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.
Lead-term guaranteed rate
5% guaranteed for 10 years
A multi-term multi-year guaranteed annuity from ELCO Mutual Life and Annuity, a policyholder-owned mutual carrier — flat declared rates across four terms (3, 5, 7, and 10 years) on a 5-year surrender ladder, with the annual free-withdrawal allowance and state-availability footprint visible directly on this page.
Best fit
Buyers who want a flat, contractually guaranteed rate from a policyholder-owned mutual carrier with the flexibility to pick a 3-, 5-, 7-, or 10-year guarantee period inside a single filing, value carrier financial-strength views corroborated across multiple independent agencies, and want the posted rates, free-withdrawal allowance, and state-availability list visible on the page rather than gated behind a brochure.
AM Best
B++ Good
Surrender period
5 years
Free withdrawal
15%/yr
Availability
45 states
Product analyst notes
How to think about this contract
Why it can stand out
- Term menu offers four distinct lock-in windows inside a single filing — guaranteed rates are published at 3, 5, 7, and 10 years — so a buyer can match the rate-lock horizon to a short, medium, or long planning window without switching to a different product or a different carrier.
- Backed by a policyholder-owned mutual carrier — ELCO Mutual Life and Annuity is owned by its contract holders rather than outside shareholders, so the structural alignment of the carrier sits with the people who hold its contracts, and operating surplus is available to support contract guarantees rather than being routed to shareholders.
- Carrier financial-strength view on this filing is corroborated across multiple independent agencies — A.M. Best, Kroll Bond Rating Agency, and Weiss Ratings all publish opinions on ELCO — so the strength read is not a single-source data point even though ELCO is a smaller mid-tier carrier than the household-name groups.
- Posted rates, the surrender schedule, the annual free-withdrawal allowance, and the state availability list are all visible directly on this page from the live MYGA feed, rather than gated behind a sales brochure or an advisor-only PDF.
What to confirm
- Carrier financial-strength rating sits in the upper-mid tier, not the top tier — A.M. Best rates ELCO B++ (Good), which is two notches below A and four notches below A+. The carrier's solvency view is rated favorably and corroborated across multiple agencies, but a buyer locking principal for a 10-year horizon should weigh the carrier's rating against A- and A-rated alternatives that operate at materially larger balance-sheet scale, especially for deposits above the state-guaranty-association coverage limit.
- The surrender ladder is shorter than the longest guarantee period — the published schedule runs 5 years while the term menu reaches 10 years. After year 5 the surrender charge falls to zero, but the contract continues to credit the chosen guaranteed rate through the end of the elected term, so a buyer who locks the 7- or 10-year term commits to a rate for longer than the surrender window protects against an unplanned exit. Confirm the rate-lock window matches the planning horizon before signing.
- Posted rates on this page assume a specific premium band and issue-age scenario from the live feed; deposits in lower or higher bands, or for materially different issue ages, may earn a different guaranteed rate, so the headline does not apply universally — verify the rate that applies to the actual deposit size and age before relying on it.
- There is no premium bonus, no death-benefit roll-up, and no guaranteed-lifetime-withdrawal rider on this filing — the death benefit is the standard contract beneficiary value, and the contract credits a flat rate over the chosen term with no income-rider chassis layered on. This contract is built for rate certainty over the chosen term, not for legacy enhancement, an upfront bonus, or guaranteed lifetime income.
Not ideal for
Buyers who require a top-tier A.M. Best rating before locking principal, want short-window liquidity beyond the annual free-withdrawal allowance, expect market-linked upside through index crediting, want a guaranteed-lifetime-withdrawal rider, want a premium bonus, or want a death benefit with roll-up or step-up — a fixed-rate deferred MYGA from a mid-tier mutual carrier is not built to deliver any of those things.
Guaranteed Rates by Term
| Term | Guaranteed Rate |
|---|---|
| 1-Year | 3.5% |
| 2-Year | 3.5% |
| 3-Year | 5.15% |
| 5-Year | 5.4% |
| 7-Year | 5% |
| 10-Year | 5% |
Key Features
Free withdrawal
15%/yrAnnual amount that may be available without surrender charges, subject to contract terms.
Surrender waivers
2Nursing home waiver, Terminal illness waiver
Death benefit
Standard Death BenefitBeneficiary value depends on contract terms, withdrawals, and rider elections.
Annuitization options
Single and jointContract conversion options should be confirmed before purchase.
Fund types
Non-qualified, QualifiedAvailability can vary by state and product terms.
Surrender Schedule
Yr 1
5%
Yr 2
4%
Yr 3
3%
Yr 4
2%
Yr 5
1%
After
0%
Nursing home waiver, Terminal illness waiver, Surrender waivers
Carrier Ratings
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