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Planning: Tools & Services > Education Center > A Shopper’s Guide to Life Insurance
A Shopper’s Guide to Life Insurance

Shopping for life insurance is no different than shopping for anything else: Before you open your checkbook, protect yourself by doing a little homework. Here are three helpful hints to make sure you’re shopping smart.

Measure your needs
It’s the most common question asked about life insurance: How do I know how much I need? One rule of thumb says to buy enough insurance to cover five to seven times your annual gross income. The fact is that there is no hard-and-fast rule—the answer depends on an array of variables, including your age, income, goals, health and so on. It’s best to have these factors evaluated by a professional, but a great place to get started is with an online calculator.

Check the ratings
Before purchasing a contract, check the financial condition of the insurance company you’re considering. An easy way to do this is to evaluate the financial strength ratings that are assigned by a number of independent rating agencies. See for yourself How Thrivent Financial Rates.

Visit with an agent
There is no better guide to evaluating your insurance needs than your own local life insurance agent. In the case of Thrivent Financial, that means making an appointment with your financial representative. He or she will ask you a series of questions about your income, net worth and personal goals. You should also be prepared to answer some basic questions about your medical history and personal habits. Depending on the type of contract you desire, a physical examination may need to be scheduled.

 
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Appleton Office:
4321 N. Ballard Road
Appleton, WI 54919-0001 USA
800-THRIVENT
(800-847-4836)
E-mail: mail@thrivent.com

Minneapolis Office:
625 Fourth Avenue S.
Minneapolis, MN 55415-1624 USA
800-THRIVENT
(800-847-4836)
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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 Wednesday, April 13, 2005 at 9:12 AM