Optional Death Benefits

The Thrivent Financial Flexible Premium Deferred Variable Annuity offers a standard death benefit with every contract. With it, your beneficiaries are guaranteed the greater of the annuity's accumulated value or the value of all premiums paid adjusted for partial surrenders.

However, for an additional charge, you can supplement this standard benefit with one or more of the following optional death benefits.¹

Note: these additional death benefit options are not available if you choose the Guaranteed Lifetime Withdrawal Benefit rider. The Premium Accumulation Death Benefit (PADB) and Earnings Addition Death Benefit (EADB) are not available should you choose the Return Protection Allocation.

Maximum Anniversary Death Benefit (MADB)

With this option, your beneficiary will receive the greater of the basic death benefit and the highest accumulated value on any contract anniversary, adjusted for any premiums or subsequent surrenders. This death benefit option can never decrease in value, except due to partial surrenders.

This optional benefit is locked in when the annuitant attains age 80, except for adjustments for any premiums or surrenders after that date.

Premium Accumulation Death Benefit (PADB)

PADB ensures that your beneficiary will receive the greater of the basic death benefit and the value of all premiums, adjusted for partial surrenders, accumulated at 5%.

This optional benefit is capped at two times the amount of adjusted premiums and is locked in when the annuitant attains age 80, except for adjustments for any premiums or surrenders after that date.

This optional benefit is not available if the Return Protection Allocation feature is exercised.

Earnings Addition Death Benefit (EADB)

With EADB, your beneficiary will receive the basic death benefit amount, plus an extra amount of money that is intended to help the beneficiary pay income taxes on the death benefit gain.

On any day before the annuitant attains age 80, this optional benefit is 40% of the lesser of:

• The sum of premiums paid, adjusted for partial surrenders.
• The amount by which the accumulated value exceeds the sum of premiums paid, adjusted for partial surrenders.

After the annuitant attains age 80, this optional benefit is equal to the amount calculated above on the age-80 contract anniversary. It can never be less than zero.

This optional benefit is not available if the Return Protection Allocation feature is exercised.

Note: EADB is independent from the MADB and PADB death benefits. EADB may not be available in certain tax-qualified products.

As compensation for assuming the risks associated with the optional death benefits, the charges listed above are equivalent to an annual charge of your contract's accumulated value. For instance, 0.20% equals $2 annually for every $1,000 your contract's accumulated value.

• A 0.10% reduction applies if any two death benefits are elected.
• A 0.20% reduction applies if all three death benefits are elected.

Contact a Thrivent Financial representative to discuss your options and select the benefit that may work best for your unique situation. 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.

All death benefits are guaranteed by the claims-paying ability of Thrivent Financial for Lutherans.

¹ The contract owner may discontinue the optional death benefit(s) at any time and the mortality and expense charge will be adjusted accordingly. Upon the death of the annuitant, the beneficiary will receive the greatest of the basic death benefit, the MADB (if elected), and the PADB (if elected), increased by any EADB amount for the contract.

Variable annuity contracts, where available, are offered and underwritten by Thrivent Financial for Lutherans, Appleton, WI 54919-0001. The distributor is Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415-1665, 800-THRIVENT (800-847-4836), a wholly owned subsidiary of Thrivent Financial for Lutherans and member FINRA, SIPC.

Investing in a variable annuity contract involves risk, including the possible loss of principal. More complete information on the investment objectives, risks, charges and expenses of the variable annuity contract and underlying investment options is included in the prospectus (PDF, 936K), which investors should read and consider carefully before investing.

Contract Forms: W-BC-FPVA (05) Series W-BC-FPVA ID (05)

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