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Grandmother Gives Gift of Uninsurable Child Life Insurance

A grandmother turns love & concern into a financial safety net

Dianne Stephens and her two grandchildren who are now insured thanks to Thrivent.

Dianne Stephens of Columbia, Missouri, adores her grandchildren, Jayla, 9, and Dylan, 3. "They are lively, happy kids with very busy lives," she says.

But unlike most kids, Jayla and Dylan spend several hours a day getting treatments to help them breathe. That's because they have cystic fibrosis, a genetic disorder.

"It's such a devastating diagnosis," says Michelle Kemp, the children's mother and Dianne's daughter. "How will we keep the kids safe? How will we manage their illness? Then very quickly, you start to worry about how you'll afford all of the medical care."

Dianne tried to purchase life insurance for them. But over and over, she was told the children were uninsurable. 

From frustration to relief

Then Dianne ran into friend and Thrivent Financial representative Tom Ittner, of Jefferson City, Missouri.

"I told Dianne that I thought we could do something for her grandchildren," says Tom.

In the months that followed, Tom and Dianne reviewed many options. They settled on an Uninsurable Child Life Insurance Benefit for each child.

Dianne also wanted to personally help the children. Since she's over age 70½, Dianne is required to take an annual distribution from her retirement plan.

She purchased a life insurance contract and transfers most of her required distribution into the contract. It will go to Jayla and Dylan as a tax-free benefit when she dies.

Tom helped Michelle and her husband, Jason, diversify their retirement assets and short-term savings into a variety of Thrivent investment products.

"It's a blessing to help families put strategies in place that truly safeguard their financial futures," Tom says.

Learn the benefits of membership

Through the Uninsurable Child Life Insurance Benefit, $10,000 of life insurance coverage may be purchased for an eligible child who has been declined for life insurance. Additional eligibility requirements may apply.

For important eligibility and application process details, contact a Thrivent Financial representative. Search for a representative near you or call Thrivent toll-free at 800-847-4836.

Read this entire article from the March 2016 issue of Thrivent magazine.

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