Benefits and Features of Business Overhead Expense Insurance

• Guaranteed renewable or noncancelable contracts: A guaranteed renewable contract guarantees to provide coverage as long as you continue to pay premiums. The premium cost could increase with this type of contract. A noncancelable contract guarantees to provide coverage if you pay the premium, and also guarantees that the premium will not increase.
• Total disability: Some contracts define total disability as the inability of the insured to perform any work for which he/she is qualified. Other contracts may define total disability as the inability of the insured to perform the duties of his or her regular occupation. Some contracts may change occupation definitions after a specified period of disability.
• Partial disability benefits: Partial disability benefits usually pay a set amount for a set period of time. Some contracts require total disability for a period of time before partial benefits are paid.
• Deductible/elimination/waiting period: This is a period of time after disability occurs for which you will not receive benefits. Select a waiting period based on the maximum length of time you will be able to meet your expenses with short-term savings. The shorter the waiting period, the higher the premium.
• Maximum benefit: This is the length of time benefits are paid for a disability. The longer the maximum benefit, the higher the premium.
• Benefit amount: The benefit amount is based on the amount of business expenses at the time of purchase. Most contracts limit coverage to cover only the expected fixed expenses, not unpredictable or fluctuating expenses, so there is an incentive to return to work. Generally the amount of coverage a person is eligible for is directly related to the type of occupation they are in.
• Future purchase option: This option gives you the right to increase the monthly benefit. It can be an important feature if expenses are likely to rise.
• Waiver of premium: Many companies offer a benefit that waives the payment of any premiums due during a period of total disability.
• Exchange benefit: Allows the insured to exchange a business overhead expense contract for an individual disability income insurance product if they are no longer self-employed.
• Carry-over provision: Because a business's expenses are not the same from month to month, the carry-over provision allows the insured to carry over unused benefits into future months.

Your financial representative with Thrivent Financial for Lutherans can help
To learn more about Thrivent Financial for Lutherans' business overhead expense insurance, contact your financial representative with Thrivent Financial for Lutherans. He or she can provide you with costs, complete details of coverage, exclusions, reduction of benefits, and terms under which contracts may be continued in force or discontinued.

Contract Forms: H2-GB-GRBOE-1,	H2-NB-NCBOE-1
20347WC	N11-02