You know the importance of saving for retirement. But sometimes it's hard to know the best way to go about it. Annuities can help eliminate the guesswork by setting you up with a reliable retirement income stream.

illustration of woman drinking coffee and writing

Let's talk.

Fill out this form or call 855-303-7302 to have someone connect with you about your options.

To learn more about the privacy of your information, visit our privacy policy.

All fields required


Please provide a few more details to ensure we connect with you in the best way possible.

All fields required

Format: xxx-xxx-xxxx
How would you like to connect with Thrivent?
What is most important to you? (Select all that apply)


What Is an Annuity?

Annuities can help you plan confidently for the retirement you deserve. They provide monthly guaranteed income (which can supplement any Social Security and pensions), tax-deferred growth on your savings, and a way to provide for your loved ones.

There are various types of annuities and options to meet your needs.

The Difference Between Immediate And Deferred Annuities

Immediate Annuities

If you’re ready to start receiving steady income now and have a sum of money available (think an inheritance or Individual Retirement Account [IRA] rollover), an immediate annuity may be a good option. Simply put, you’ll be converting existing assets into monthly payments to ensure steady cash flow for now, and in the future.


  • Income payout options – like recurring payments over a fixed term, or until you die.
  • Payments begin right away.
  • Possible death benefit paid out to the people and causes of your choosing.

What to be aware of:

  • Since you start receiving payments immediately, there is no accumulation phase and therefore less potential for growth.

Deferred Annuities

Since deferred annuities aren’t returned to you in the form of steady retirement income for some time, they have potential for growth during the accumulation phase. If you value tax efficiency and want to choose when you start taking money out, deferred annuities might be a good option.


  • No income tax payments until you’re ready to take money out.
  • Potential for your principal to grow before you start receiving payments.
  • No annual contribution limits (unlike IRAs and 401[k]s).

What to be aware of:

  • You won’t get to enjoy the steady income it provides until an agreed-upon future date.

The Difference Between Fixed And Variable Rates

Fixed Annuities

With this option, your premiums earn interest at a minimum guaranteed rate or higher. Because of this, you can have better insight into the income you’ll receive in retirement.


  • Generally not affected by market volatility.
  • Principal protection and competitive interest rates.

What to be aware of:

  • The value of the annuity may not keep pace with inflation, given the set interest rates.

Variable Annuities

Variable annuity returns are based on market performance and can be key to your accumulation strategy. This option allows you to build (and potentially grow) your retirement funds. Through market investments made along the way, you’ll receive guaranteed monthly income when you retire.


  • Acts as an investment account that allows you to accumulate funds on a tax-deferred basis.
  • Funds are invested in variable subaccounts and therefore may keep up with – or outpace – inflation.
  • Pays out a designated portion of your lifetime payment, despite market volatility, with a guaranteed lifetime withdrawal benefit rider (available at an additional cost).

What to be aware of:

  • Investments are dependent on market risk and performance, and could lose principal.
Variable Annuities are distributed by Thrivent Investment Management Inc. Review their Form CRS Relationship Summary to learn more.

Prepare for Retirement With Expert Guidance

Explore annuities and other solutions to meet your retirement goals.
Connect with a licensed financial professional to navigate your options today.
Find a Rep