Whole Life Insurance

Whole life insurance might be the right choice if you want coverage that lasts for your entire life, with premiums that won't change and a guaranteed level death benefit – which means, as long as all required premiums are paid, you never have to wonder how much coverage you have.

In addition, you'll know what the cash value will be at any point in the future, and the value increases each year. Under current tax law, the cash value grows income tax-deferred and the cash value can be accessed with a contract loan. (A loan will decrease the death benefit and cash surrender value, and can potentially cause your contract to lapse. Loans may also affect your dividends. Interest is charged on a loan, and the interest is not tax deductible.)

Thrivent Financial for Lutherans offers the following Whole Life Insurance products:

Whole Life 65 and Whole Life 121

Depending on which type of whole life insurance you choose, you can choose how long you pay the premiums – either to age 65 or to age 121.

The annual premium for Whole Life 65 will be higher than for Whole Life 121 for the same amount of coverage. However, you are paying the annual premium for a shorter period of time. With Whole Life 65, you will have paid-up life insurance at age 65, with no more premiums to pay. Also, if you choose to pay a premium more frequently than annual, an additional charge will apply for both Whole Life 65 and Whole Life 121.

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Single Premium Whole Life

Like Whole Life 65 and Whole Life 121, Single Premium Whole Life provides lifelong insurance protection with guaranteed cash value and a guaranteed death benefit. However, rather than paying premiums over time, you pay just once, a single premium large enough to fund the contract for your lifetime.

Additional Benefits

  • Whole Life 65 and Single Premium Whole Life Can Be Purchased for a Child – Provide an early foundation of permanent life insurance for a child to carry forward into adulthood. You can also purchase an optional Guaranteed Purchase Option Benefit Rider along with a Whole Life 65 contract to preserve the child's right to get additional life insurance later.
  • Whole Life 65 and Whole Life 121 Offer the Additional Premium Option Benefit – This allows you to enhance your death benefit and cash value – without the financial commitment of having to continue paying those additional premiums in the future. When you pay additional premiums, Thrivent Financial will add Paid-Up Additions life insurance coverage to your contract. Evidence of insurability may be required.
  • Whole Life 65, Whole Life 121 and Single Premium Whole Life – Are eligible to earn dividends. These dividends can be used to purchase additional coverage, pay premiums, or provide you with funds now and in the future. Dividends are not guaranteed.

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Survivor Whole Life

  • Contract for Two – Insures two people under one contract. The insurance proceeds are paid at the death of the second insured. There is no benefit payment at the death of the first insured.
  • Choice – Based on the premium you wish to pay, you can choose the mix of Whole Life (called face amount) and Additional Protection (in the form of term insurance) that is best suited to your needs.
  • Flexibility – Survivor Whole Life can help provide funds to pay estate taxes and expenses, ensure business continuation, provide for dependent children, or make a charitable gift.
  • Dividend Distribution – You participate in Thrivent Financial's dividend distribution. (Dividends are not guaranteed.) This product is designed so that your dividends will be used to pay for the portion of your life insurance coverage in excess of the face amount.
  • Insurance Split Option – An additional benefit that allows the insured individuals to purchase two separate individual life insurance contracts in certain situations (i.e., business dissolution, divorce), regardless of health.

Similar to Whole Life 65 and Whole Life 121 if you choose to pay a premium more frequently than annual, an additional charge will apply.

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Ready to Talk About Life?

Contact a Thrivent Financial representative for costs and complete details of coverage. Like most insurance contracts, these have exclusions, limitations, reductions of benefits and terms under which the contracts may be continued in force or discontinued.

Contract forms: L-WX-WL (08), L-SX-SPWL (08), L-JX-SWL (08) Series. ICC08 L-WX-WL, ICC08 L-SX-SPWL, ICC08 L-JX-SWL, ICC12 L-WP-WLP, L-WP-WLP (12) Series

Rider forms: LR-XG-GPO (08), ICC08 LR-XG-GPO, LR-XS-SISO (08), ICC08 LR-XS-SISO


Please note that neither Thrivent Financial for Lutherans nor any of its agents give legal or tax advice. The brief discussion of taxes in this section is neither complete nor necessarily up-to-date; the laws and regulations are complex and subject to change. A transfer of the contract, a change in the owner or change in the beneficiary may have tax consequences depending on the particular circumstances. For complete details, consult with your attorney or tax advisor. The description of benefits in this section is brief and does not constitute, in itself, a contract.

Guarantees are backed by the financial strength and claims-paying ability of Thrivent Financial for Lutherans.


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