Insurance > Permanent Life Insurance > Universal Life Insurance
Universal Life Insurance

Universal Life Insurance can be ideal if you want the protection of permanent life insurance combined with flexibility to keep pace with life’s changes. As those changes occur, you can be confident that your life insurance contract can adjust to meet your needs.

The protection provided by Universal Life Insurance is:

Stable
The minimum guaranteed interest rate for your accumulated value helps ensure long-term growth that helps protect you against inflation. Your accumulated value is guaranteed to earn at least 3% annually (increasing to 3.25% annually starting in year 11).

Flexible
You can adjust premium payments and your coverage to fit the changes in your life.

Accessible
You decide how and when to use your accumulated value to meet your financial goals.

Life insurance that can meet your financial goals
The primary benefit of life insurance is to help your family financially in the event of your death by providing funds to cover expenses or help replace lost Social Security and pension benefits. But with Universal Life Insurance, you also have the benefit of using the accumulated value during your lifetime:

• Supplement retirement income
• Pay college costs for you or your children
• Transfer wealth to your heirs
• Maximize charitable gifts

Use accumulated value as you choose
As your accumulated value grows, you can access it in a few ways:

• Contract loans are available at any time, subject to interest charges. After you have owned your contract for 10 years, the interest rate on any outstanding or new loans may be reduced.
• Partial surrenders allow you to withdraw a portion of your contract’s accumulated value as long as enough cash surrender value remains to keep the contract in force. Contractual charges may apply.

While these options help make your Universal Life Insurance contract more flexible, partial surrenders and/or unpaid debt will reduce your death benefit and the accumulated value available to pay your insurance costs, and may result in the lapse of your contract. A significant taxable event may result if the contract lapses with outstanding debt. Your tax advisor can provide more details.

Customize your coverage
You may purchase optional benefits with your life insurance contract for an additional cost.

• Consolidate coverage for the entire family to cover short-term needs on one contract.
  • Term Life Insurance Benefit
  • Spouse Term Life Insurance Benefit
  • Child Term Life Insurance Benefit
• Waivers help coverage continue even if you become disabled.
  • Disability Waiver of Monthly Deduction Benefit
  • Disability Waiver of Selected Amount Benefit
  • Applicant Waiver of Selected Amount Benefit
• Increase or add coverage to meet life’s changes.
  • Annual Increase Benefit
  • Guaranteed Increase Option Benefit
  • Accidental Death Benefit

This information applies to Flexible Premium Adjustable Life Insurance contract forms U-UM-UL (07) and ICC07 U-UM-UL.

Guarantees are backed by the financial strength and claims-paying ability of Thrivent Financial for Lutherans.

Contact your financial representative for costs and complete details of coverage. Like most insurance contracts, this contract has exclusions, limitations, reductions of benefits and terms under which the contract may be continued in force or discontinued.

Please note that neither Thrivent Financial for Lutherans nor any of its agents give legal or tax advice. The brief discussion of taxes in this section is neither complete nor necessarily up-to-date; the laws and regulations are complex and subject to change. A transfer of the contract, a change in the owner or change in the beneficiary may have tax consequences depending on the particular circumstances. For complete details, consult with your attorney or tax advisor. The description of benefits in this section is brief and does not constitute, in itself, a contract.

20318WE   R5-08