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Becoming a Parent or Grandparent

Children and grandchildren bring joy to a family, but they also bring new financial responsibilities. As you start planning your family, look to Thrivent Financial for guidance. We can help you create a wise financial strategy that aligns with your Christian values and provides for the new baby through the years.

Increasing Cost Of Raising A Child Infographic

Start preparing for your family's future

As your family grows, there's a lot to think about financially – things that might not have been on your mind before starting a family. We'll help you take steps to protect your family's financial future.

Consider life insurance for the new baby

It's natural to want to protect your new child or grandchild from some of life's bumps and bruises. So when it comes to protecting his or her financial future, you may want to consider juvenile life insurance from Thrivent. It can help start your new family member on a wise financial path early in life and protect his or her future insurability.

  • Create a potential funding source for college or the purchase of a first home.1
  • Help cover expenses and emotional needs if the child dies.

Fund education for your child or grandchild

When you invest in your child's or grandchild's education, you invest in your family's future. But with so many college savings options, like 529 plans and Coverdell Education Savings Accounts, where do you begin? Thrivent can help you navigate through all the options and save for college.

  • Save early to avoid overburdening your student with debt.
  • Balance competing goals – save for education and retirement.

Prepare for an unexpected illness or injury

With a growing family, you have more people to provide for. Help keep an income flowing into your household if you become sick or disabled. Disability income insurance can help pay your bills and other expenses if you can't work.

  • Help cover bills and other financial responsibilities.
  • Provide coverage for a stay-at-home spouse.

All your children will be taught by the Lord, and great will be their peace.