Guardian Eagle Flex
ELCO Mutual Life & Annuity
4.25%
5-yr guarantee
15%
Free W/D
44
States
Live product data
Rates as of May 28, 2026, based on the latest AdvisorWorld scan of CANNEX data.
5-year guaranteed rate
4.25% guaranteed for 5 years
A single-term 5-year multi-year guaranteed annuity from ELCO Mutual Life and Annuity, a policyholder-owned mutual carrier — one flat declared rate locked for 5 years, a 5-year surrender ladder whose final-year charge steps down sharply, and a state-availability footprint published as a restricted allow list rather than a full 49-state filing.
Best fit
Buyers inside the filing's restricted-allow-list state footprint who want a single, contractually guaranteed rate locked in for a 5-year term from a policyholder-owned mutual carrier, prefer a single-term filing without a menu of guarantee periods to navigate, and value a surrender ladder whose final-year charge drops sharply in the same year the guaranteed rate ends.
AM Best
B++ Good
Surrender period
5 years
Free withdrawal
15%/yr
Availability
44 states
Product analyst notes
How to think about this contract
Why it can stand out
- Surrender ladder ends with a sharp step-down in the final year — the published schedule holds at a flat upper-single-digit charge for the first four years and then drops to a low single-digit charge in year five, so a buyer who needs an unplanned partial exit in the final year of the contract pays a materially smaller charge than the rate that applied through years one to four.
- Single-term filing with the lock-up window matched to the rate-lock window — the 5-year guarantee period and the 5-year surrender schedule end in the same contract year, so there is no surrender penalty extending beyond the period the contract has actually committed to a guaranteed rate.
- Backed by a policyholder-owned mutual carrier — ELCO Mutual Life and Annuity is owned by its contract holders rather than outside shareholders, so operating surplus is available to support contract guarantees rather than being routed to shareholders, and the carrier's financial-strength view is published by three independent agencies (A.M. Best, KBRA, Weiss Ratings).
What to confirm
- This filing is the restricted-distribution variant in the Guardian Eagle family. The live state availability list runs an allow-list footprint of 44 jurisdictions — not a 49-state non-NY filing — so buyers in jurisdictions outside that allow list cannot purchase this contract on this filing. Confirm availability for the state of issue before relying on this product in a plan.
- 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 view is corroborated across multiple agencies, but a buyer locking principal for the 5-year term should weigh ELCO's rating against A- and A-rated alternatives operating at materially larger balance-sheet scale, especially for deposits above state-guaranty-association coverage limits.
- There is exactly one guarantee period on this filing — 5 years — so a buyer who wants a 3-, 7-, or 10-year fixed-rate window from the same carrier cannot get that horizon here. The sibling Guardian Eagle (non-Flex) filing publishes 3-, 5-, 7-, and 10-year terms on the same chassis; confirm the desired lock-in window matches this filing before signing.
- 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 5-year guarantee period with no income-rider chassis. This contract is built for rate certainty over a single fixed 5-year window, not for legacy enhancement, an upfront bonus, or guaranteed lifetime income.
Not ideal for
Buyers in jurisdictions outside the restricted allow-list footprint (confirm state availability before considering this contract), buyers who require a top-tier A.M. Best rating before locking principal, buyers who need a 3-, 7-, or 10-year fixed-rate window (the sibling Guardian Eagle non-Flex filing covers those terms), or buyers who want market-linked upside, a guaranteed-lifetime-withdrawal rider, a premium bonus, or a death benefit with roll-up or step-up — a single-term restricted-distribution MYGA from a mid-tier mutual carrier is not built to deliver any of those things.
Guaranteed Rates by Term
| Term | Guaranteed Rate |
|---|---|
| 5-Year | 4.25% |
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
5%
Yr 3
5%
Yr 4
5%
Yr 5
1%
After
0%
Nursing home waiver, Terminal illness waiver, Surrender waivers
Carrier Ratings
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