Life Insurance: Protection With Possibilities
The fear of the unknown – especially when it comes to your finances, family and future – is daunting. Life insurance can help give you a sense of security.
From term to permanent and everything in between, life insurance is a wise and caring way to help fulfill your promises.
Learn about different types of coverage and make your plan to start living life with less worry.
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Why life insurance?
Life insurance is more than its death benefit. It can help fulfill your promises to the people who rely on you financially and emotionally.
Reasons to have it can vary, from covering funeral costs and transferring wealth, to supplementing retirement income and helping replace lost wages – just to name a few.
More people protect their things with insurance than protect their loved ones with life insurance.1
8 in 10 Americans say family is the most important to them, but only 59% have life insurance to protect them.1
- Coverage for a limited time (10, 15, 20 or 30 years).
- Generally lower premium than permanent insurance; death benefit only.
- Protect future insurability with conversion to permanent.
Permanent (Whole & Universal) Insurance2
- Lifetime coverage (assuming premiums are paid).
- Source of funds for retirement, education and other opportunities.3
- Access to cash value.3
Converting Term to Permanent2
- Opportunity to upgrade your insurance to meet changing needs.
- No new underwriting or health check if face value not changing.
This is a solicitation for insurance. A Thrivent financial professional may contact you.
1 LIMRA 2018 Insurance Barometer Study
2 All life insurance provides income tax-free death benefit to beneficiaries if payments are current. Under current tax law [IRC Sec. 101(a)(1)], death proceeds are generally excludable from the beneficiary's gross income. However, death proceeds may be subject to state and federal estate and/or inheritance tax.
3 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.