Variable universal life insurance
With more control over your cash value, you can provide financial protection for your family and make investment choices guided by your goals.
What does variable universal life insurance offer?
![Middle-aged couple enjoying dinner outside with a few others](https://cdn.thrivent.com/dims4/default/107121f/2147483647/strip/true/crop/400x300+0+0/resize/800x600!/quality/90/?url=http%3A%2F%2Fthrivent-brightspot.s3.amazonaws.com%2F5d%2F18%2Fffb69d814a819c77cd21adac7018%2Frectangle-294.jpg)
Variable universal life insurance is a type of permanent life insurance. As long as your contract retains sufficient cash value, coverage can remain in place throughout your entire life.
![Child on a smiling woman's lap](https://cdn.thrivent.com/dims4/default/62e8948/2147483647/strip/true/crop/400x300+0+0/resize/800x600!/quality/90/?url=http%3A%2F%2Fthrivent-brightspot.s3.amazonaws.com%2F06%2F50%2Fa1a45e9b42c4bb74d42f8e96647a%2Fimage.jpg)
If you pass away while coverage is in place, your contract will provide a financial payout to your beneficiaries. Those can be family members, other loved ones, or organizations that support causes you care about. While you have coverage, you can adjust the amount of the death benefit your contract will provide. But be aware: Increasing coverage may require an underwriting process.
![Couple dancing in a bedroom](https://cdn.thrivent.com/dims4/default/d6aa6ef/2147483647/strip/true/crop/400x300+0+0/resize/800x600!/quality/90/?url=http%3A%2F%2Fthrivent-brightspot.s3.amazonaws.com%2F56%2F00%2Ff3a9ae3b4d8d9bbeea130cfb7379%2Fcash-value.jpg)
Your contract includes cash value, which you can access while you’re living to help accomplish financial goals. You can borrow from your cash value to help cover major expenses—such as college tuition—or provide income during retirement. Your cash value may grow on a tax-deferred basis, and withdrawals may be tax-free.
![An elderly couple having fun outside](https://cdn.thrivent.com/dims4/default/eaa6bd7/2147483647/strip/true/crop/400x300+0+0/resize/800x600!/quality/90/?url=http%3A%2F%2Fthrivent-brightspot.s3.amazonaws.com%2Fba%2Fad%2F26e5b7f749f2ba83eac4e9c2d1a5%2Fflexible-payments.jpg)
As with any universal life insurance contract, you have opportunities to adjust your premiums, changing how much—and how often—you pay. That flexibility can be helpful if you experience income fluctuations. But keep in mind: Any premium adjustments you make may affect the growth of your contract’s cash value. Reducing premiums may also lead to a lapse in coverage if the contract doesn’t retain sufficient cash value.
![Woman smiling and scrolling through her phone](https://cdn.thrivent.com/dims4/default/fc005d4/2147483647/strip/true/crop/400x300+0+0/resize/800x600!/quality/90/?url=http%3A%2F%2Fthrivent-brightspot.s3.amazonaws.com%2Fae%2Fcf%2F90352aac4e22b7cd48e4f88daf77%2Finvestment-options.jpg)
With variable universal life insurance, you can influence the growth of your contract’s cash value by choosing how to invest it. Select from a range of options managed by dedicated financial professionals. Pick solutions that align with your goals and reflect the amount of risk you’re comfortable taking on.
Variable universal life FAQs
Learn more about how you can shape this insurance solution to suit your financial goals.
How does variable universal life insurance work?
Variable universal life insurance (VUL) is a type of permanent life insurance that works by providing a death benefit for your beneficiaries and a cash value component for you—which is invested in subaccounts for potential to produce greater returns. You also have some flexibility with your VUL 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 variable universal life insurance
What are the pros and cons of variable universal life insurance?
Variable 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 you don’t lose too much money if the market drops and forces your contract to lapse. While there are no caps to how high your cash value earnings can be, there’s also no floor for how low they can go.
Compare variable universal life insurance benefits & drawbacks
Variable universal vs. universal life insurance—which is right for you?
As types of permanent life insurance, variable universal life (VUL) and universal life 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 variable universal & universal life insurance
How does variable universal life insurance compare with whole life insurance?
Variable universal life insurance (VUL) 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 VUL. And while there’s potential for dividends and guaranteed growth on the cash value in your whole life contract, variable universal life insurance comes with more risks (but possibly more rewards), since its cash value is invested in a variety of subaccounts.
Compare variable universal & whole life insurance
Free learning tool
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.
Get the details you're looking for
Learn more about Thrivent variable universal life insurance. See investment, prospectus and performance information.
Connect
Personalized financial guidance requires a personal connection. We can help.
Coverage increases and decreases have limitations related to contract size and age of insured. Increases may require evidence of insurability. Decreased charges may apply to a decrease in coverage. Coverage may be terminated prior to maturity date even if scheduled premiums are paid in a timely manner.
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. Loaned values may accumulate at a lower rate than unloaned values. Contact your tax advisor for further details.
If requested, a licensed insurance agent/producer may contact you and financial solutions, including insurance may be solicited.
Thrivent and its financial professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
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.
2.2.1.4