Optional Living Benefits

Ease your worries about negative market performance or not having reliable income in retirement. For an additional fee, you can add one of the following living benefits to your Thrivent Financial Flexible Premium Deferred Variable Annuity.

Guaranteed Lifetime Withdrawal Benefit

Adding this feature to your variable annuity for an additional fee (current range is 0.50% to 1.25%, not to exceed a maximum of 1.25%) can provide you guaranteed income for the rest of your life, while your selected investment options are linked to the equity markets and you maintain control of your assets. If you are concerned about having income you can count on in retirement consider adding the Guaranteed Lifetime Withdrawal Benefit (GLWB). You have the ability to choose from three asset allocation subaccounts for your investment options. 100% of your premium payments must be placed into one of these subaccounts; restrictions apply for reallocating your premium payments to another subaccount. There may be other income options which may be more suitable; please consult a Thrivent Financial representative for more information. The GLWB rider can provide you with:

Lifetime Income Guarantee – Once you begin taking annuity distributions, your payment will not decrease – unless you take more than your guaranteed withdrawal amount � even if market performance depletes your account.
Annual Market Gain "lock-in" – On each contract anniversary date, any increase to your benefit base made that year will be automatically "locked in." The benefit base will step up to the contract anniversary accumulated value if it is greater otherwise, the benefit base is unchanged. If you are receiving distributions, the amount of the distributions can also increase due to these increases in your benefit base. The annual market gain lock occurs on or before the date you reach age 90.
Access to accumulated value – Even after you begin taking payouts, you'll still have full access to your accumulated value. Keep in mind that additional withdrawals could reduce your annual payment amount and may be subject to surrender charges.
Flexible Withdrawal Options – You can choose to take withdrawals annually, quarterly, monthly or not at all – whatever works best for you.
"Return of Investment" Death Benefit Guarantee – You'll receive your entire premium amount through annual withdrawals that continue to your beneficiaries until the total amount is paid out.

Return Protection Allocations

A great challenge for investors is trying to balance the benefit of capturing the potential for investment growth against the risk of a potential loss to their accumulated values This benefit option gives you access to the upside return potential linked to the equity and bond markets, reduced by the cost of the benefit itself (currently 0.75% annually, not to exceed a maximum of 0.75%), while assuring a guaranteed minimum accumulated value should there be a loss in the contract do to negative investment option performance. You must leave your accumulated value in your chosen 7- or 10-year allocation period for the duration of the period in order to see a potential benefit of the rider. You can choose from two options:

7-Year Return Protection Allocations – After a 7-year waiting period, you're guaranteed an accumulated value at least equal to the amount guaranteed in the contract. The actual value guaranteed depends on your selected asset allocation strategy and the subsequent asset allocation subaccount chosen (moderately conservative or moderate).
10-Year Return Protection Allocations – In this case you have a 10-year waiting period. After this period, you're guaranteed an accumulated value at least equal to the amount guaranteed in the contract. This option also offers you a moderately aggressive strategy option, with greater return potential.

You are not required to withdraw funds in a prescribed way and it is not necessary to annuitize your account to receive the benefit of the Return Protection Allocation.

You should choose this benefit only if you do not plan to access the funds until the end of the waiting period (7 or 10 years), since no prorated benefit is available at an earlier date.

Contact a Thrivent Financial representative to explore how these optional benefits might help you protect your retirement income. 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.

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

Distributions from nonqualified annuities are taxed as ordinary income on the gain portion only.
Distributions prior to age 59½ may be subject to a 10% federal tax penalty.

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.

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.

Contract Forms: W-BC-FPVA (05) Series W-BC-FPVA ID (05), WR-LW-GLWB (07)


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