What's an Annuity?
An annuity is a contract you make with an insurer, such as Thrivent Financial for Lutherans, where 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. Deferred annuities offer tax-deferred growth and annuities can help provide a predictable source of income intended for retirement.
What is an Immediate Annuity?
An immediate annuity provides either a fixed or variable income payments for the time period you choose. Immediate annuities are purchased with a single premium and income payments usually begin right away.
What is a Deferred Fixed Annuity?
A deferred fixed annuity pays interest at a fixed rate, which is usually established when you purchase your annuity.1 It is either purchased with a single or multiple premiums, and taxes are deferred until you withdraw your money, usually at retirement.2
What is a Deferred Variable Annuity?
A deferred variable annuity has accumulated values that fluctuate over time according to the performance of the investment options and fixed accounts selected. Similar to deferred fixed annuities, it is either purchased with a single or multiple premiums, and taxes are deferred until you withdraw your money, usually at retirement.2
Contact a Thrivent Financial representative when evaluating any financial strategies, such as the purchase of annuities.
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.
Investing in variable annuities 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 prospectuses, which investors should read and consider carefully before investing. Prospectuses are available from a Thrivent Financial representative or at Thrivent.com.
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 exception applies.
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