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With the Flexible Premium Deferred Variable Annuity, you can access your accumulated value in a variety of ways:
Partial or full surrender
You can withdraw part or all of your accumulated value through a partial or full surrender. See the prospectus for details. Please note that a surrender is subject to income taxation and a potential 10% federal income tax penalty if it occurs prior to age 59 ½ . You should consult your tax adviser to see if you qualify for any exceptions to this penalty.
- After seven years, you’ll have full access to all of your funds without any surrender charges being assessed, regardless of when the money was paid into the contract.
- During the first seven years, you may take a partial surrender for an amount up to 10% of your accumulated value each year with no surrender charge. During these years, any additional amounts withdrawn will be subject to surrender charges based on the schedule shown below:
| Surrender Charges |
| Year 1 |
7% |
| Year 2 |
6% |
| Year 3 |
5% |
| Year 4 |
4% |
| Year 5 |
3% |
| Year 6 |
2% |
| Year 7 |
1% |
The surrender charge schedule begins on the issue date of the contract and is not extended if any subsequent premium payments are made. This way, all of your money is accessible to you under the same terms at the same time.
Thrivent Financial waives surrender charges in the following instances*
- Nursing home confinement
- Loss of job
- Total disability
- Terminal illness
- Annuitizing your contract after three years
*Some waivers are not available in all states.
Great ways to access your funds in retirement
Planned retirement income program
You have the ability to use the dollars accumulated in your account to help fund your Thrivent Retirement Income Program. Your financial representative can tell you more about how this program works.
Systematic partial surrender
You can establish a systematic partial surrender that provides periodic payments on a monthly, quarterly, semiannual or annual basis.
Annuitize your contract and receive income for life or a set period of time
You can receive regular income payments that you can’t outlive. You can choose to receive payments to last for your life or for the lives of you and your spouse. Alternatively, you can receive a regular stream of income for a set period of years or receive a set amount of money periodically.
Your financial representative with Thrivent Financial for Lutherans can help
Contact your financial
representative for more information about the Flexible Premium Deferred
Variable Annuity from Thrivent Financial for Lutherans. He or she can provide
you with costs, complete details of coverage, exclusions, reduction of benefits,
and terms under which the contract may be continued in force or discontinued.
Download a prospectus for the
Thrivent Financial for Lutherans Variable Annuity. The prospectus contains
more complete information on charges and expenses. You
should read the prospectus carefully before you invest or send money.
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