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Living Better

Flying high: Mike Tindall (with his vintage airplane) uses his whole-life insurance policy to protect his family and enhance his life. Photo by Dave KaphingstDon’t try to tell Thrivent Financial for Lutherans member Mike Tindall that life insurance has little value as a savings vehicle. Typically a means of setting aside dollars for future needs like college funds, life insurance, as Mike discovered, also can enhance your life in different ways. He recently drew on his policy’s cash value to buy a vintage airplane—a 1946 Fairchild 24W.

Tindall, 49, a chiropractor in Webster City, Iowa, explains that his father took out a whole-life policy on him from a Thrivent Financial predecessor organization shortly after he was born and kept it in force until he reached adulthood. Since he married wife Tracy and began having children, he has raised the benefit on the policy several times and also uses it as an additional savings vehicle.

His first consideration has been to ensure that the death benefit remains high enough to protect his wife and three children in the event of his death—covering the mortgage and college expenses, and providing an income for Tracy. “But if the policy allows me to live life a little better,” he says, “that’s great, too.”

Following in the footsteps of his father, Tindall purchased permanent policies for each of his kids when they were infants. He hopes that by the time his children are ready to make a big step, like buying a house, the cash value might provide a nice down payment.

—J.G.

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Thrivent Financial for Lutherans, Appleton, WI 54919-0001, is authorized to conduct business in all 50 states and the District of Columbia. NAIC # 2938-56014. Products issued by Thrivent Financial for Lutherans are available to applicants who meet membership, insurability, U.S. citizenship and residency requirements. Not all products described are available in all states. Thrivent Financial representatives are licensed insurance agents. Insurance and retirement products, where available, are individual contracts, (not group coverage), and issued by Thrivent Financial for Lutherans. Investment products are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415-1665, a wholly owned subsidiary of Thrivent Financial for Lutherans. Member FINRA. Member SIPC. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc.

Bank products and trust services are offered through Thrivent Financial Bank, 2000 E. Milestone Dr., Appleton, WI 54919-0006 (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, investment products, securities, trust, and investment management services and accounts are not deposits, are not FDIC insured, are not insured by any federal government agency, and are not guaranteed by Thrivent Financial Bank. Variable insurance contracts, investment products, trust, and investment management accounts may go down in value.

©1995-2008 Thrivent Financial for Lutherans

This document was last updated on Thursday, April 5, 2007 at 8:00 AM