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Affordable life insurance to protect your family or business
Term life insurance provides protection at a reasonable cost during a specific period of time. It can be ideal for short-term life insurance needs, such as when your family is growing, while you have a mortgage, or when you start a business.
Purchasing term life insurance can also be a smart initial step when you need permanent life insurance coverage, but your budget can't currently handle the corresponding premiums. With the affordability of term life insurance premiums, you can afford to purchase the full amount of life insurance coverage you need now. And with the conversion privilege included in most term life insurance contracts, you can convert to permanent life insurance coverage later, regardless of health.
Selecting a term life insurance contract
There are many term life insurance products in the marketplace. When considering a life insurance product, be sure to ask:
- How much coverage will I have? For how long? Is the coverage level?
- Can I continue the coverage? Will I need to prove I'm in good health to renew it?
- How much is the premium? Is the premium guaranteed to stay level? For how long? What happens to the premiums after that?
- Can I convert to permanent life insurance? For what period of time? To what permanent life insurance product(s)?
Tax-free death benefit
One of the most significant advantages of life insurance is that the entire amount of the death benefit passes to your beneficiaries free of income taxes.
Thrivent Financial for Lutherans offers a number of Level Term Life Insurance choices for adult life insurance needs.
Your financial representative with Thrivent Financial for Lutherans understands the features of term life insurance and can explain why a certain type of contract may best suit your situation.
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.
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