Take the added stress of making funeral arrangements from your loved ones by planning ahead. Preneed insurance allows you to work with a funeral home to make these important decisions ahead of time and cover the costs associated with a funeral.
With ELCO Mutuals Preneed insurance, you'll work directly with a funeral home to make decisions about your funeral before your death. This means you still get to choose the funeral home of your choice and work with a funeral home director who knows you, your family, and your final wishes.
A single premium means this policy’s death benefit helps fund your funeral. The policy can be assigned to your funeral home, which will then own the rights and receive the death benefit as payment to cover your funeral expenses.
We offer great opportunities for financial growth. While they are not guaranteed, the potential dividends you may qualify for are delivered as one-year term additions.
Yes, there are single pay and multi-pay options available for preneed insurance. Single pay requires a larger sum of money up front (with a minimum premium of $500), while multi-pay allows this money to be spread over a longer period of time.
Eligibility for preneed policies varies depending on the payment option you select.
This product also requires you to answer two basic health questions to qualify.
When it comes time to funeral planning, waiting until someone passes means making decisions on the fly and wondering if you’re making the right choices. It can be overwhelming when your family is already grieving. With preneed insurance, you and your family can take time to consider your final wishes and ensure those are honored when the time comes. Whether burial or cremation, casket or urn, the choices are all yours. You can even make funeral arrangements that speak to who you are and capture your life the way you wish it to be remembered.
ELCO Mutual offers a variety of flexible options with opportunities for growth which helps mitigate the rising costs of funerals. In addition, our preneed insurance and strong partnerships with funeral homes means you get the support you need when you need it most.
ELCO Mutual has been assisting seniors with our financial planning since 1946 and counting. Our goal has remained the same throughout our long history: to provide personalized service, consumer friendly products, and stability for our policyholders.
Address:
916 Sherwood Drive
Lake Bluff, IL 60044
ELCO Business Hours:
Monday - Thursday 8 am - 4:30 pm (CST)
Friday 8 am - 1 pm (CST)
Talk to Us: 800.321.3526
Agency: 888.240.3351
PHS Fax: 847.295.6043
NB Fax: 847.295.6342
Claims Fax: 847.295.1145
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ELCO Mutual and its representatives are not legal or certified tax professionals. For tax and/or legal advice, please contact a licensed professional. ELCO Mutual contracts with independent licensed insurance producers and does not guarantee nor certify them as financial planners. Not insured by the FDIC or associated with any government program or agency. Annuities are not associated with a bank. Withdrawals taken from annuities before the age of 59 1/2 are subject to the IRS's 10% excise tax. Individual Retirement Accounts (IRAs) cannot be opened past the age in which Required Minimum Distributions (RMDS) begin. Dividends are declared by the company's board of directors and are not guaranteed. When purchasing a single premium whole life policy, please note that the policy is a Modified Endowment Contract (MEC). Any distributions taken by the owner may be taxable (including from the accelerated death benefit rider). Death benefits for life insurance contracts are contingent on any due premiums being paid. The information on this website is intended for informational and educational purposes only and is not intended to provide investment advice or a recommendation. Clients seeking advice should consult a licensed professional. All life insurance policies and annuities are underwritten and issued by ELCO Mutual Life and Annuity. Also known as ELCO Mutual Life and Annuity Company in Florida. Policy Forms: Platinum Eagle: (ICC19-SPL-19), Golden Eagle: (ICC19-WLP-19), Silver Eagle: (ICC19-FE19, ICC21-GBWL21, ICC19-MWL19, ICC21-GIWL21m ICC21-SPLR21), Preneed: (PNMPSI20, PNMPGI20, PNSPL20), DFD: (DFD21, DFD0113), Presidio Plus: (ICC21-TSPL21), Guardian Eagle Single Premium: (ICC19-MYGA[term length]-19), Guardian Eagle Flexible Premium: (ICC16-FPA16), and Immediate Annuities: (SPIA11 and ICC17-AIFXB17). Policy forms may vary by state.
