Annuities

An annuity is a contract you make with an insurer (in this case, Thrivent Financial for Lutherans). When you purchase an annuity, the insurer agrees to repay your money – plus the interest it earns – either in a lump sum or over a period of time you select.

The Benefits of an Annuity

Annuities can take the guesswork out of planning for the future. Deferred annuities offer tax-deferred growth and can provide a predictable source of income. Immediate annuities offer a predictable source of income immediately. Some annuities even provide payments for life, so you can't outlive your income.

Annuities also provide a death benefit for your loved ones. Proceeds from an annuity can pass directly to your beneficiaries, bypassing the time-consuming and costly probate process.

Which Annuity Should You Choose?

The type of annuity that's best for you will depend on your individual needs and financial goals.

• Immediate Fixed Annuities – Can help you turn a recently received or inherited lump sum of money into retirement income for your lifetime, regardless of how long you live. Your income payments will begin right away.
• Deferred Fixed Annuities – Pay interest at a fixed rate, which is usually established when you purchase your annuity.¹ A deferred fixed annuity may be right for you if you want guaranteed, dependable growth and plan to take income down the road, such as during retirement.²
• Variable Annuities – Have values that fluctuate over time, according to the performance of the investment options and fixed accounts selected. Investments in fixed accounts earn at least a minimum interest rate guaranteed in the contract.

An annuity can be a valuable part of your retirement plan. Contact a Thrivent Financial representative to discuss which type of annuity may best help you meet your financial goals. He or she can provide you with costs, complete details of coverage, exclusions, reduction of benefits, and terms under which the contract may be continued in force or discontinued.

Contract Forms: A-IA-SPIA (07), A-IP-SPIAP (07), A-IX-SPIAX (07), A-AF-FPDA (04), A-AS-SPDA (04), A-CF-FPDAC (04), W-BC-FPVA (05) Series, A-IA-SPIA ID (07), A-IP-SPIAP ID (07), A-IX-SPIAX ID (07), A-AF-FPDA ID (04), A-AS-SPDA ID (04), A-CF-FPDAC ID (04), W-BC-FPVA ID (05), A-AS-SPDAN TX (06), A-AS-SPDAB TX (06), A-AS-SPDANI WA (04), A-AS-SPDAB WA (04)

Guarantees are backed by the financial strength and claims paying ability of Thrivent Financial for Lutherans.

Variable annuities are subject to market risk and sold by prospectus. The prospectus contains more complete information, including investment objectives, risk factors, surrender charges, fees and expenses, which should be carefully considered before investing.

¹ Current interest rates are guaranteed for one full year. In subsequent years, the rate may change as interest rates fluctuate but will never fall below the guaranteed minimum rate listed in the contract.

² The taxable portion of each annuity distribution is subject to income taxation. If a taxpayer is younger than 59½ at the time of distribution, a 10% federal tax penalty will apply to the taxable portion of the distribution unless a penalty-tax exception applies.

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