Last updated July 17, 2009
Thrivent Financial for Lutherans is a faith-based, not-for-profit membership organization boasting nearly 2.6 million members. Thrivent is a Fortune 500 financial services organization with the strength of more than $61 billion in assets.
Thrivent Financial for Lutherans was officially formed on January 1, 2002 with the merger of Aid Association for Lutherans and Lutheran Brotherhood. The merger formed one of the largest fraternal benefit societies in the United States. Today, Thrivent Financial for Lutherans maintains a network of 1,364 local chapters. It is listed on the Fortune 500.
Thrivent offers four different kinds of life insurance: term life, whole life, universal life and variable universal life. Term life insurance offers only a death benefit and is usually less expensive than permanent life insurance. Whole life insurance is permanent. It gives the insured guaranteed death benefits, level premiums, and cash value that increases each year. Universal life insurance allows the insured to increase or decrease the death benefit and the premium. Cash value in a universal contract earns interest at a current rate. Variable universal life insurance offers a flexible premium and the potential to build cash value. However, death benefits and other values may vary, because the insured determines how the cash is invested. The investment performance has no guarantees and could lose money.
Contact Thrivent Financial at:
Thrivent Financial for Lutherans
625 Fourth Avenue South
Minneapolis, MN 55415-1624
Telephone: (800) 847-4836
Sources: “About Us”, Thrivent Financial web site; “Thrivent Financial for Lutherans”, Wikipedia, May 2009; “Life Insurance,” Thrivent Financial web site, 2009, “Thrivent Financial for Lutherans,” A.M. Best web site, April 2009.