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Universal life insurance

Coverage that lasts your entire life—plus access to your contract’s cash value and the ability to adjust your premium payments.
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Next Steps

  1. We will review your request and get back to you within 24–48 hours.
  2. We will match you with a financial advisor that meets your needs.
  3. There is no obligation to buy at any time.
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What does universal life insurance offer?
This solution helps you support loved ones after you pass away and meet major financial needs throughout your life. You also get some flexibility not available with all life insurance options.

Flexible payments
Adjust your premiums over time, changing how much—and how often—you pay. Note: Premium adjustments may affect your contract’s cash value.1

Cash value
Access your contract’s cash value to help cover major expenses—such as college tuition—or provide income during retirement. Cash value growth is based, in part, on a credited interest rate with a guaranteed minimum return. Earnings may accumulate on a tax-deferred basis, and withdrawals may be tax-free.2

Death benefit
Provide beneficiaries with a payout if you pass away while coverage is in place. While the contract is active, you may adjust the death benefit amount.

Potential for permanent protection
As long as your contract retains sufficient cash value, coverage can remain in place throughout your entire life.
Free learning tool
How much life insurance do you need?
Enter your current assets, expenses and income. You can also adjust the inflation rate and your expected rate of return to see how these variables could impact your insurance needs.
Photograph of Karsten Lundring and his wife, Kirsten
Karsten Lundring and his wife, Kirsten, continue to enjoy the benefits of life insurance they first purchased years ago.

The power of permanent life insurance

Many of Thrivent's own team members rely on permanent life insurance for their personal financial needs. Former managing partner Karsten Lundring of Thousand Oaks, CA, has used this flexible solution to help cover the down payment on his family's first house—and to provide a portion of his income in retirement.

Frequently asked questions

Learn more about how this solution’s flexibility can serve your overall financial strategy.
How does universal life insurance work?
Universal life insurance works by providing a death benefit for your beneficiaries and a cash value component for you—which can grow at an interest rate set by your insurance company, with the assurance of a guaranteed minimum interest rate. You also have some flexibility with your universal life insurance premiums and death benefit. You can change how much and how often you pay your premiums over time. And you may be able to adjust your death benefit as life, and your need for coverage, changes.

Explore the features of universal life insurance
What are the pros and cons of universal life insurance?
Universal life insurance offers advantages like a flexible premium and death benefit, access to cash value with tax-deferred growth potential, and lifelong protection (as long as your contract remains in force). But there can be some tradeoffs, including higher risk and a need for regular monitoring of your policy to make sure it stays adequately funded and doesn’t lapse.

Compare universal life insurance benefits & drawbacks
How does universal life insurance compare with term life insurance?
Universal life insurance is a type of permanent life insurance that can potentially provide lifelong coverage and cash value that you can access while you’re living. Term life insurance, on the other hand, only covers you for a specific number of years (typically between 10 and 30) and pays out a death benefit directly to your beneficiaries if you die during that period. With a universal life insurance contract, your premiums are flexible, while they’re level in most term contracts. Universal life insurance also has a higher price tag—and a few more rules and risks—than term life insurance.

See the difference: universal vs. term life insurance
Universal life insurance or whole life insurance—which is right for you?
Universal and whole life insurance are both types of permanent life insurance. Because of this, they share some features like a death benefit, cash value and a certain amount of guaranteed investment growth. However, there are some key differences: Your death benefit and premiums never change with whole life insurance, but can sometimes be adjusted with universal life insurance. And while there’s potential for dividends and guaranteed growth on the cash value in your whole life contract, universal life insurance comes with more risks, since its interest rates fluctuate based on the market.

Compare universal & whole life insurance
What are the differences between universal and variable universal life insurance?
As types of permanent life insurance, universal and variable universal life (VUL) insurance function very similarly. Both offer flexible premiums and a cash value component. But the main difference is that the cash value in a VUL contract doesn’t earn a minimum interest rate like most universal life insurance contracts do. Instead, VUL allows you to invest your cash value in investment subaccounts—exposing you to more market risk, but also more potential for greater earnings.

Compare universal & variable universal life insurance
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Connect with us
I’m interested in learning more about
*Please select an insurance option.
Who will we contact?

To learn more about the privacy of your information, visit our privacy policy.

What is your contact information?
Form Submission Failure

Unfortunately the form submissions has failed. Please go back and try submitting the form again or come back later and try again.

Illustration of a person trimming a tree shaped like a padlock
We’re excited to connect with you!

We'll be in touch soon.

a high five

Next Steps

  1. We will review your request and get back to you within 24–48 hours.
  2. We will match you with a financial advisor that meets your needs.
  3. There is no obligation to buy at any time.
Investing involves risk, including the possible loss of principal. The VUL prospectus will contain more information on its investment objectives, risks, charges and expenses, which investors should read carefully and consider before investing. Available at Thrivent.com.
Paying large, additional premium amounts can cause your life insurance contract to become a modified endowment contract. This affects how you are taxed. Note that there are also limits to how much you can pay into your contract.

Removing money from your contract can result in potential charges and income changes that affect your taxes. If you have a modified endowment contract, your actions may not be tax-free. Withdrawing money decreases the contract’s cash value and the value of your death benefit. It can also cause your contract to lapse. If you remove money, it will take you longer to meet your contract goals. Always talk with your tax advisor and financial professional to learn about those implications up front.

Coverage may terminate prior to the maturity date even if scheduled premiums are paid in a timely manner.

Increases and decreases have limitations related to contract size and your age. Increases may require evidence of insurability. Decrease charges may apply to a decrease in coverage.

Monthly deductions include cost of insurance, monthly charges and additional costs associated with optional riders.

Loans and surrenders will decrease the death proceeds and the value available to pay insurance costs which may cause the contract to terminate without value. Surrenders may generate an income tax liability and charges may apply. A significant taxable event can occur if a contract terminates with outstanding debt. Contact your tax advisor for further details. Loaned values may accumulate at a lower rate than unloaned values.

If requested, a licensed insurance agent/producer may contact you and financial solutions, including insurance may be solicited.

Guarantees based on the financial strength and claims paying ability of Thrivent.

This contract has exclusions, limitations and terms under which the benefits may be reduced, or the contract may be discontinued. For costs and complete details of coverage, contact your licensed insurance agent/producer.

Thrivent and its financial advisors and professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
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