Term Life
Term life insurance is an affordable option that protects your family or business for a specified period of time. It can also be a smart initial step when you need permanent life insurance coverage, but your budget can't currently handle the corresponding premiums.
With the affordability of term life insurance premiums, you can purchase the full amount of life insurance coverage you need now. And with the conversion privilege included in Thrivent Financial's term life insurance contracts, you can convert to permanent life insurance coverage later, regardless of your health at that time.
When considering a term life insurance product, be sure to ask:
- How much coverage will I have? For how long? Is the coverage level?
- Can I continue the coverage? Will I need to prove I'm in good health to renew it?
- How much is the premium? Is the premium guaranteed to stay level? For how long? What happens to the premiums after that?
- Can I convert to permanent life insurance? For what period of time? To what permanent life insurance product(s)?
Thrivent Financial Level Term Life
Thrivent Financial for Lutherans offers a number of Level Term life insurance choices for adult life insurance needs.
Level term life insurance provides level coverage, and allows you to choose the length of time you'd like the premiums guaranteed to remain level – either 10, 15, 20 or 30 years.
Following the initial level premium period you chose, you can continue your coverage to age 95 by paying increasing premiums.
During the initial level premium period (but not past age 70), you can convert your level term life insurance coverage to any permanent individual life insurance contract offered by Thrivent Financial for Lutherans.
If you are age 65 or older when you purchase the contract, conversion is available for the first five years.
Let's Talk Term
Contact a Thrivent Financial representative for costs and complete details of coverage. Like most insurance contracts, this contract has exclusions, limitations, reductions of benefits and terms under which the contract may be continued in force or discontinued.
Please note that neither Thrivent Financial for Lutherans nor any of its agents give legal or tax advice. A transfer of the contract, a change in the owner or change in the beneficiary may have tax consequences depending on the particular circumstances. For complete details, consult with your attorney or tax advisor.
Guarantees are backed by the financial strength and claims-paying ability of Thrivent Financial for Lutherans.
Contract Forms: L-LX-LT (09) Series, ICC09 L-LX-LT
200903749 9/09