Whole Life Insurance
Coverage to fit your goals, your timeline & your budget
Whole life insurance is designed to provide permanent, long-term coverage with the added benefit of guaranteed cash value. It offers a lifetime of life insurance protection plus guarantees for yourself – or those you love, as long as you pay the required premium.
Despite these benefits, however, many of us keep putting it off. According to a 2015 survey, people say they haven't bought life insurance, or more of it, because:
have other financial priorities.
are unsure of how much or what type to buy.
Source: LIMRA 2015 Insurance Barometer Study
What is whole life insurance?
It is permanent insurance that pays a guaranteed death benefit to your beneficiaries (as long as you pay the required premiums), accumulates cash value that's income tax-deferred, and has premiums that will never increase.
Plus, with a variety of options and features, whole life insurance can be tailored to your needs and goals, whether they include paying off a mortgage, replacing lost income or paying for extended care expenses.
Choose the payment period that fits your needs
Why pay premiums for the rest of your life when you can own a lifetime of guaranteed coverage in less time?
Whole life insurance lets you select from a number of different premium-payment periods – either a set number of years or to a specific age – based on your financial goals, timeline and budget. Depending on which option you choose, you could have permanent life insurance that's paid up in as little as 10 years!
Build up cash value
When you make premium payments, you're building cash value that is guaranteed to increase over time, and the earnings are tax-deferred. You'll aways know what it's worth at any time in the future – so there are no surprises. And the cash value continues to grow after your contract is paid up at rates that are guaranteed to never go down.
During your lifetime, you can borrow1 the cash value for a variety of reasons, such as to:
- Supplement your retirement income.
- Pay college tuition expenses.
- Fund future expenses, emergencies or opportunities.
The Thrivent Financial difference
At Thrivent, we do more than help you manage your finances. We help you make wise money choices through every phase of your life.
Want to learn more? Check out these resources so you'll be ready to discuss your insurance needs and goals with a knowledgeable Thrivent Financial representative.
This is a solicitation for insurance. A Thrivent representative may contact you.
Guarantees are backed by the financial strength and claims-paying ability of Thrivent Financial.
1 Loans and surrenders will decrease the death proceeds and the cash surrender value available to pay insurance costs. Surrenders may generate an income tax liability and may be subject to a decrease charge. A significant taxable event can occur if a contract terminates with outstanding debt. Contact your tax advisor for further details. Loans and surrenders may cause a contract to lapse or terminate without value. Loaned values may accumulate at a lower rate than unloaned values.