DISCONTINUED PRODUCT - Product not available to new enrollees.
Thrivent Financial Flexible Premium Deferred Variable Annuity
Product ID: 13
Type:
Variable Annuity
Discontinued 
$223
0.68%
8 Years / 7.00%
Yes
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Address: - Product Details
- Fees and Charges
- Investment Options
An insurance contract that offers tax-deferred accumulation of assets to help meet your retirement goals. Variable insurance products are offered and underwritten by Thrivent Financial for Lutherans, Appleton, WI, 54919-0001 and distributed by Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN, 55415-1665, (1-800-THRIVENT; 1-800-847-4836), a wholly-owned subsidiary of Thrivent Financial for Lutherans. Member NASD. Member SIPC.
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A participant may allocate premiums under the contract to one or more of the subaccounts of the variable account, the Fixed Account, or, if available, Fixed Period Allocations. Certain investment options may be unavailable in some states. The accumulated value of the contract in the subaccounts and the amount of variable annuity payments will vary, primarily based on the investment experience of the portfolios whose shares are held in the subaccounts designated. The interest rate that applies to the fixed account or a fixed period allocation depends upon the date of the allocation and the allocation period selected.
On or before the Annuity Date, you may participate in an optional Automatic Asset Rebalancing program that allows you to elect a specific asset allocation to maintain over time. The sum of the rebalancing percentages must be 100% and each rebalancing allocation percentage must be a whole number not greater than 100%. You may select any date to begin the asset rebalancing program with semi-annual or annual asset rebalancing. The rebalancing will be done after all other transfers and allocations to or from the subaccounts for the valuation day. The asset rebalancing program does not allow you to include the Return Protection Allocation subaccounts, the Fixed Account or a Fixed Period Allocation in the rebalancing program.
Dollar Cost Averaging allows you to have automatic periodic transfers from one account to one or more subaccounts (restrictions may apply). Dollar Cost Averaging may be set up from the Fixed Account or from the Money Market Account. Dollar Cost Averaging is generally suitable if you are making a substantial deposit to your contract and desire to control the risk of investing at the top of a market cycle. Dollar Cost Averaging does not guarantee that your contract's accumulated value will gain in value, nor will it protect against a decline in value if market prices fall. However it can be an effective strategy to help meet your long-term goals. Dollar Cost Averaging transfers do not count against the 12 free transfers per year.
An owner can select payments based upon Life Expectancy tables, satisfying the Required Minimum Distribution, in a settlement option. There are several ways of doing this, depending upon if the owner is deceased or not. For further information, please speak to a financial representative.
This settlement option provides a guaranteed income for two people for life, based on the life expectancy of the individuals. The two payees do not have to be spouses, however. For example, two sisters could establish a joint life income. A guaranteed period may be elected for up to 360 months, but cannot exceed the joint life expectancy of the individuals.
This settlement option provides the owner with an income that cannot be outlived. If the owner dies before receiving payments equaling the original principal, there is not an additional death benefit. However, as long as the owner lives, payments continue even after the payments equal the amount of the original principal. In other words, it provides a guaranteed income for as long as the owner lives.
This settlement option provides the owner with an income for a certain period of time, or longer, if the owner lives longer than that certain period. In other words, it provides a guaranteed income for as long as the owner lives. If the contract owner selects a period certain and dies before the end of the period certain, a death benefit is paid to the beneficiary. If the contract owner dies after the period certain, no death benefit is paid. A guaranteed period may be elected for up to 360 months, but cannot exceed the owner's life expectancy.
In lieu of a payout agreement, the entire contract value may be payable in a lump sum, less any applicable charges.
Owner chooses the period of time over which the periodic payments are to be made, from 13 months to life expectancy. If the contract owner selects a period certain and dies before the end of the period certain, a death benefit is paid to the beneficiary. If the contract owner dies after the period certain, no death benefit is paid.
Variable Settlement Option or Specified Amount:
Variable Settlement Option: The variable settlement option allows the participant to select the investment options to match their investment style, risk tolerance and income needs. Income payments from the variable settlement option will fluctuate, depending on your investment choices, their respective performances and the assumed investment return selected. Specified Amount: Provides owner a fixed amount paid at agreed upon intervals. Income will be paid until the proceeds are paid in full, and must be paid within your life expectancy.
Variable Settlement Option: The variable settlement option allows the participant to select the investment options to match their investment style, risk tolerance and income needs. Income payments from the variable settlement option will fluctuate, depending on your investment choices, their respective performances and the assumed investment return selected. Specified Amount: Provides owner a fixed amount paid at agreed upon intervals. Income will be paid until the proceeds are paid in full, and must be paid within your life expectancy.
All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can
substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact
of fees, and the different types of fees please refer to the
Explanation of Fees piece located in the
Help & Resources.
Fees
|
|
$30.00 | Annually | Flat Dollar Amount | Yes | No | Yes |
|
|
$25.00 | At the time of transfer | Flat Dollar Amount | Yes | No | No |
|
|
1.15% - 1.25% | Annually | Range of Possible Percentages | No | No | No |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 7.00% |
| 2 | 6.00% |
| 3 | 5.00% |
| 4 | 4.00% |
| 5 | 3.00% |
| 6 | 2.00% |
| 7 | 1.00% |
| 8 | 0.00% |
*Expressed in contract years
Exceptions to the Surrender Charge:
Other Restrictions:
Percent of contract value:
10.00%
Death:
Yes
Disability:
Yes
Financial Hardship:
Yes
Nursing Home or Other Medical Expenses:
Yes
Substantially Equal Payments - Yes;
Annuitization of the contract if 3 years old or older -Yes;
Terminal Illness of Annuitant or Spouse and Unemployment as defined in contract - Yes.
