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If you're 25, the chances are one in three that before you reach 65, you are likely to have a long-term1 loss of earned income due to a disability.2
Protect your earned income and help keep your savings intact
The purchase of Disability Income (DI) Insurance from Thrivent Financial for Lutherans is one option you have to protect your ability to earn an income.
If you are unable to work due to a qualifying illness or accident, this vital coverage can help cover all, or a portion of, your monthly obligations up to the amount of coverage you purchased. You can avoid the need to deplete savings, which may negatively impact your future lifestyle.
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This illustration assumes $2,000 per year is saved from ages 21 to 65 and the savings accumulates at an interest rate of 6% for a total growth of $425,000 by age 65. If the savings program is interrupted at ages 35 and 36 by a disability resulting in a $2,000 per month withdrawal to meet living expenses, the total accumulated savings at age 65 will be approximately $145,000. The savings has been depleted by more than 65%.
Disability income insurance is flexible and works in a variety of situations. Whether your employer provides disability coverage, or if your self-employed… Thrivent Financial's disability income insurance contract can work for you.
Protect your retirement assets for tomorrow
If you become disabled and are unable to work for your employer, thus receiving no wages, you and your employer are ineligible to contribute to your employer-sponsored plan, such as a 401(k) or pension. And, you may be required to move your plan to another institution, or an IRA. This may not be advantageous, depending on market conditions, vesting schedules or the loss of matching funds. Also, if you need to borrow or withdraw from your retirement account, you'll not only deplete your retirement assets, you may also incur additional taxes or penalties.
Your financial representative with Thrivent Financial for Lutherans can help
Contact your financial representative with Thrivent Financial for Lutherans for more information about Thrivent Financial's disability income insurance. 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.
Product features may not be available in all states and may vary by age and occupation class.
1 Long-term loss is defined as a disability lasting 90 days or longer.
2 1985 Comissioner's Individual Disability Table A. (Most recent data available.)
| Contract Forms: #12124, #12125, ID12124, | ID12125, TX12124, TX12125
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| 20348WB | R4-04 |
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