Disclosures

• Product, Cost and Compensation Guide (PDF, 108K) – Provides more detailed information about the products and services we offer, the costs associated with purchasing those products and services, and how your financial representative is compensated when you purchase them. (Mar. 2010)
• Business Continuity Plan
• Privacy Notice
• Financial Arrangements (Revenue Sharing) Disclosure (PDF, 15K)
• Municipal Securities – EMMA Fact Sheet (PDF, 758K)

Our Focus as a Fraternal Benefit Society

Our goal at Thrivent Financial for Lutherans is to continue building a long-term relationship with you to help you reach your financial goals, and to increase the value of your Thrivent Financial membership. As a fraternal benefit society, our mission is to improve the quality of your life, your family and your community. We believe financial security and caring for others are keys to that better quality. Security. Generosity. Community. That's what we're about.

We were founded more than 100 years ago to help people protect themselves and their families, and help others – essentially strengthening their families, communities and congregations. We created our own insurance and annuity products that help do that – Thrivent Financial for Lutherans annuities and insurance products. As you may expect, we make more money from the sale of Thrivent Financial annuities and insurance products and other proprietary products we create and offer you than from the sale of other companies' products, in other words, non-proprietary products. We offer those non-proprietary products to help make sure you have options available to help meet your financial needs, but we wanted to let you know the difference between proprietary and nonproprietary in terms of our revenue.

There's another major difference: our Thrivent Financial insurance and annuity products help create the dollars that make the grassroots membership support of communities and congregations possible. Funding for this support comes from tax-exemptions we have been provided as a fraternal benefit society. In effect, when we sell our Thrivent Financial insurance and annuity products, money we would otherwise pay in taxes is put into the membership programs and services that help our members and help them give back to the community. For example, through our network of groups of members around the country (called chapters or in some locations Thrivent communities), we provide resources and funding for our members to do local volunteering for charitable, educational, and patriotic purposes. Therefore, we focus on the distribution and sale of Thrivent Financial annuities and insurance products. Together with our members in their local chapters, Thrivent generated more than $135 million in 2010 to support communities, congregations and individuals in need. Additionally, Thrivent members volunteered more than 11 million hours through our outreach initiatives.

Financial Representative Product Access

All of Thrivent Financial's representatives licensed with Thrivent Financial and Thrivent Investment Management Inc., a registered broker-dealer and investment adviser, can offer and sell Thrivent Financial annuities and insurance products and other proprietary products, such as Thrivent Mutual Funds, as well as certain non-proprietary products. Certain Thrivent Financial representatives may have access to certain proprietary and non-proprietary products and services while other Thrivent Financial representatives do not have such access, based on their experience, licensing and other qualifications. If your financial representative is unable to offer a product or service that interests you, he or she may be able to work with another financial representative at no extra cost to you. We encourage you to talk with your financial representative about the products and services he or she may offer and explore the options available to you.

Financial Representative Bonus Compensation for Rollovers

For the period of January 2, 2012 through April 30, 2012, Thrivent financial representatives may receive compensation in the form of a cash bonus for your and others' retirement account rollovers. The cash bonus is primarily based on the number of new members or clients that elect to rollover one or more external retirement accounts into certain eligible products and services, including both proprietary and non-proprietary products and services, recommended by a financial representative as a rollover vehicle. The calculation of the bonus also takes into consideration rollover points based upon membership status. To be eligible for the bonus, the account being rolled over must come from an organization other than Thrivent Financial or its affiliates and must have a minimum rollover value and the financial representative must have a minimum of four total member or client rollovers. In summary, the cash bonus is based on obtaining a certain level of outside retirement rollover accounts in addition to accumulating points based on member status for each individual member or client that completes a rollover during the relevant period.

The bonus program is designed to encourage financial representatives to attract new members to Thrivent Financial for Lutherans and particularly to increase the number of benefit members. Benefit members are generally members of Thrivent Financial age 16 or older who have applied for and purchased proprietary insurance or annuity benefits from Thrivent Financial. Benefit members are essentially the "owners" of Thrivent Financial, and vote to elect the members of the Board of Directors. Persons who join Thrivent as members are also members in a local chapter of Thrivent Financial for Lutherans where they have the opportunity to serve as volunteer leaders and engage in charitable, educational, social, and patriotic activities. Please visit www.thrivent.com for further information on membership.

Although financial representatives recommend products and services they believe are suitable for you and your particular financial situation, as always, you should carefully evaluate each product, service and recommendation. If you have a question about this bonus compensation, please contact your financial representative.

Mutual Fund Products Compensation

Thrivent Investment Management Inc. ("Thrivent Investment Mgt.") is a Delaware corporation and a for-profit, indirect, wholly owned subsidiary of Thrivent Financial for Lutherans ("Thrivent Financial"). Thrivent Investment Mgt. is a dually registered investment adviser and broker/dealer and a member of FINRA and SIPC. Thrivent Investment Mgt. is also the principal underwriter and distributor of the shares of Thrivent Mutual Funds, which is composed of several series (and each series is a Thrivent Mutual Fund), and variable products issued by Thrivent Financial and Thrivent Life Insurance Company.

Thrivent Mutual Funds are distributed by financial representatives licensed with Thrivent Investment Mgt. ("financial representatives"). Most financial representatives are independent contractors, while certain others are employees of Thrivent Financial and one of its affiliates, and are compensated by Thrivent Investment Mgt. primarily in the form of commissions for the sale of Thrivent Mutual Funds and for servicing Thrivent Mutual Fund accounts. Commissions received by financial representatives will not result in any additional charges to you, other than as already described in the Thrivent Mutual Funds prospectus.

Compensation for Financial Representatives Who Are Independent Contractors

Financial representatives who are independent contractors are paid a commission that ranges between 58% and 66% of the applicable sales load for the sale of Class A shares of a Thrivent Mutual Fund. The commission rate is based on a financial representative's volume of gross dealer concession from certain investment products. Sales of Institutional Class shares of Thrivent Mutual Funds generate commissions that range from 2.5 to 15 basis points annually of the ongoing account value, depending on the particular Thrivent Mutual Fund. The preceding pay-outs do not apply to sales of Thrivent Mutual Funds through a managed account.

In addition, independent contractor financial representatives, which sell and/or service Class A shares of a Thrivent Mutual Fund, are paid a portion of the Rule 12b-1 fee¹ that you pay as a Class A shareholder of that Fund. The portion of the Rule 12b-1 fee that is paid to a financial representative ranges from 45% to 90% of the Rule 12b-1 fee. This range depends on the particular financial representative's volume of gross dealer concession from certain investment products.

Compensation for Financial Representatives Who Are Employees

Financial representatives participating in the Thrivent new financial representative employee trainee program and financial representatives who support our Financial Advice Center are employees of Thrivent Financial. Rather than earning a commission for the sales and service of Thrivent Mutual Funds, these financial representatives earn a salary. Financial representatives supporting the Financial Advice Center have the potential to receive an additional bonus opportunity based on the revenue and profitability of the Financial Advice Team.

Financial representatives sell mutual fund products of Thrivent Financial and may sell those of other mutual fund companies. Generally, it is more profitable for Thrivent Financial if you purchase products that are distributed by Thrivent Investment Mgt. and advised by one of its affiliates, such as Thrivent Mutual Funds, instead of those issued by other mutual fund companies. Thrivent Investment Mgt. and, in certain instances, an unaffiliated third party may from time to time offer marketing incentives, promotions or reimbursements to individual financial representatives or groups of financial representatives. As permissible under applicable regulations, these incentive programs may provide cash and/or non-cash incentive compensation to financial representatives for the sale of various products and services, including Thrivent Mutual Funds.

While Thrivent Investment Mgt. and its financial representatives seek to provide you with suitable products based on your investing needs and objectives, you should be aware that the receipt of additional incentives may create a conflict of interest. Incentive programs are subject to industry regulations and are addressed in Thrivent Investment Mgt.'s internal compliance policies, which, in some cases, limit these payments, items and benefits.

If you have questions, please contact your financial representative or call 800-THRIVENT (800-847-4863).

Financial Representative Crossover Program

Thrivent Financial for Lutherans pays its financial representatives based on product sales within two types of product lines. The first product line is for life, health and annuity products and the second is for investment products (i.e., such as mutual funds and managed accounts). These two product lines each have their own financial representative payment grid. Within each of the grids are different financial representative payment levels based on the volume of product sales within the applicable product line grid. As the financial representatives increase his or her product sales of a specific product, he or she is paid higher compensation within the applicable product line payment grid. Beginning October 1, 2010, Thrivent will pay financial representatives who attain a certain level of life, health and annuity product line sales (including proprietary and non-proprietary life, health and annuity products as applicable), a higher amount of compensation on their investment product line sales. Therefore, sales of life, health and annuity products could help increase the amount a financial representative is paid for investment product line sales.

Although our financial representatives recommend products and services they determine are suitable for you and your particular financial situation, as always, you should carefully evaluate each product and recommendation.

Variable Insurance Products Compensation

Thrivent Investment Management Inc. ("Thrivent Investment Mgt.") is a Delaware corporation and a for-profit, indirect, wholly owned subsidiary of Thrivent Financial for Lutherans ("Thrivent Financial"). Thrivent Investment Mgt. is a dually registered investment adviser and broker-dealer and a member of FINRA and SIPC. Thrivent Investment Mgt. is also the principal underwriter and distributor of the shares of Thrivent Mutual Funds and variable insurance products issued by Thrivent Financial and Thrivent Life Insurance Company, including (but not limited to) variable universal life, variable deferred annuity, variable immediate annuity and variable settlement options ("variable insurance products").

Thrivent Financial variable insurance products are distributed by financial representatives licensed with Thrivent Investment Mgt. ("financial representatives"). Most financial representatives are independent contractors, while certain others are employees of Thrivent Financial and one of its affiliates, and are compensated by Thrivent Investment Mgt. for the sale and service of Thrivent financial variable insurance products primarily in the form of commissions.

Commissions received by financial representatives will not result in any additional charges to you, other than as already described in the Thrivent Financial variable insurance product prospectuses.

Compensation for Financial Representatives Who Are Independent Contractors

Financial representatives who are independent contractors are paid a commission that is a percentage of the commissionable premium paid on variable insurance products manufactured by Thrivent Financial or Thrivent Life Insurance Company and distributed through Thrivent Investment Mgt. The percentage of the commissionable premium paid as a commission varies based on the specific products:

• Flexible Premium Deferred Variable Annuity – Commission rates vary by the age of the annuitant, the product and the age of the contract.
• Single Premium Immediate Variable Annuity – Commission rates vary by the expected duration of the income stream.
• Variable Settlement Option – Commission rates vary by the expected duration of the income stream and the age of the annuitant.
• Variable Universal Life Insurance – Commission rates vary by the age of the insured and the length of time the contract is expected to run.

Approximately 50% of the net dealer concession paid to Thrivent Investment Mgt. for variable insurance products manufactured by unaffiliated product manufacturers but distributed through Thrivent Investment Mgt. is paid as a commission to the financial representative.

Financial representatives who are independent contractors may also receive bonuses:

• Representing an additional portion of the commission paid on the sale of variable insurance products. These bonuses are based on the financial representative's sales volume of certain products and the financial representative's accumulated sales credits.
• Representing between 0 and 32 basis points annually of the Thrivent Financial variable insurance product account values that they service and between 0 and 11.2% of the premiums on Thrivent Financial variable universal life products that they sell. The bonus is based on the financial representative's level of sales volume, success in increasing membership, ability to retain assets and value of clients' accounts with Thrivent Financial and its affiliates.

Compensation for Financial Representatives Who Are Employees

Financial representatives participating in the Thrivent new financial representative employee trainee program and financial representatives who support the Financial Advice Center are employees of Thrivent Financial. Rather than earning a commission for the sales and service of Thrivent Financial variable insurance products, these financial representatives earn a salary. Financial representatives supporting the Financial Advice Center have the potential to receive an additional bonus opportunity based on the revenue and profitability of the Financial Advice Team.

Financial representatives sell variable insurance products of Thrivent Financial and Thrivent Life Insurance Company and may, in certain limited circumstances, sell those of approved unaffiliated companies. Generally, it is more profitable for Thrivent Financial if you purchase products that are issued by Thrivent Financial and Thrivent Life Insurance Company instead of those issued by other variable insurance product companies. Thrivent Financial and, in certain instances, an unaffiliated third party may from time to time offer marketing incentives, promotions or reimbursements to individual financial representatives or groups of financial representatives. As permissible under applicable regulations, these incentive programs may provide cash and/or non-cash incentive compensation to financial representatives for the sale of various products and services, including Thrivent Financial variable insurance products.

While Thrivent Financial and its financial representatives seek to provide you with suitable products based on your insurance and investing needs and objectives, you should be aware that the receipt of additional incentives may create a conflict of interest. Incentive programs are subject to industry regulations and are addressed in Thrivent Financial’s internal compliance policies, which, in some cases, limit these payments, items and benefits.

If you have questions, please contact your financial representative or call 800-THRIVENT (800-847-4863).

New Member Bonus Compensation

As of January 1, 2011, our financial representatives can receive compensation in the form of a cash bonus for bringing more benefit members into Thrivent Financial. (Benefit members are generally members of Thrivent Financial age 16 and older who have applied for and purchased proprietary insurance or annuity benefits from Thrivent Financial.) There are three components to the cash bonus program. All financial representatives are eligible for the first component. The first component is a cash bonus for bringing a certain number of eligible new benefit members to Thrivent Financial. This bonus is not paid for each individual eligible new benefit member, but is paid when a certain level of eligible new benefit members is reached. For example a financial representative will receive a payment of $1000 if they bring 12 eligible new benefit members to Thrivent Financial, subject to certain other conditions. A second component is only available for certain financial representatives. These financial representatives will be eligible to receive an additional $1,000 by attaining New Member Masters status when they bring at least 20 eligible new benefit members to Thrivent Financial. Additionally, the top 10 New Member Masters will also receive $1,000. Therefore, a financial representative who attains New Member Status will be eligible for an additional $2,000. A third component to the cash bonus program is available only to new financial representatives who are in their first two and a half years of service with Thrivent Financial. This component includes the receipt of a cash bonus of up to $150 for each eligible new benefit member brought to Thrivent Financial.

Although Thrivent Financial representatives recommend products and services they believe are suitable for you and your particular financial situation, as always, you should carefully evaluate each product and recommendation.

Field Leadership Compensation

Our home office employees, as well as our field management personnel who manage our financial representatives, are eligible to receive variable compensation, based on the amount of sales by the financial representatives of life, health and annuity products issued by Thrivent and other insurers.

If you have questions, contact your financial representative or call 800-THRIVENT (800-847-4836).

¹ 12b-1 fees are fees that may be charged by mutual funds to cover promotion, distribution, marketing and shareholder-servicing expenses, and compensation to financial representatives.

	Download Adobe Acrobat Reader (needed to view .pdf files)

201000255