Financial Stability of Medicaid Compliant Annuity Companies

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For more than 20 years,  I have been offering Medicaid Compliant Annuity products.  With respect to all of the insurance companies that I have dealt with, my favorite has always been Employees Life Company (Mutual) of Lake Bluff, Illinois.  In my office, we refer to the company as “ELCO.”

ELCO is is a small life and annuity insurance company that has been servicing the needs of many since 1946. Because it is a mutual company, all profits accumulate for the benefit  and protection of its policyholders.  At the end of the 2008 calendar year, ELCO had $290 million of total admitted assets, $272 million of total policyholder liabilities, and a $19 million surplus.  Additionally, at the end of the same period, ELCO generated $129+ million of total income, and spent $127+ million on operations, leaving a profit of $1.4 million.  That was an outstanding performance.

For 2009 and beyond, as a result of its conservative approach, I am confident that ELCO will continue to lead the way for Krause Financial Services, LLC., and its ability to provide the best Medicaid Compliant Annuities in those markets where ELCO is licensed to do business.

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