Thrivent Life Insurance Review

Wide variety of plans and a charitable focus

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Our Take 

Thrivent Life Insurance offers many different types of policies, as well as investments, banking, and financial planning, making it a comprehensive one-stop shop for financial needs. We particularly like their not-for-profit status and member benefits, including the option to start up community projects and give charitably through Thrivent. 

  • Pros and Cons
  • Key Takeaways
  • Specifications
Pros and Cons
  • Wide variety of life insurance products to choose from

  • Some quotes available online

  • Life Insurance Calculator to help determine how much life insurance you need

  • Selection of riders to add-on

  • No live chat or support

  • No ability to apply online

  • Online quotes only for term policies

  • No final expense policies

Key Takeaways
  • Thrivent is a large not-for-profit life insurance provider. 
  • The company offers five different types of policies with four different riders. 
  • Thrivent has strong customer service and financial strength ratings. 
  • Year Founded 1902
  • Kinds of Plans Term, whole, whole plus term, universal, variable
  • Number of Plans 5
  • Payment Options Online and by mail
  • Official Website


Thrivent Financial offers a variety of life insurance policies, including both term and whole life. We researched Thrivent’s financial stability, policy options, rider availability, online tools capacity, and customer service to help you compare how Thrivent stacks up to the best life insurance policies

Company Overview

Thrivent is a Fortune 500 company that was founded in 1902 in Appleton, Wisconsin. It serves more than 2.3 million customers with $162 billion in assets, and life insurance is available in every state. Thrivent operates at a not-for-profit and is member-owned, giving its members unique opportunities to be charitable with both their time and money. 

While it does offer quotes and the ability to see how much insurance you may need online, you are required to contact a representative to apply for a policy. 

Available Plans 

Thrivent offers six different types of life insurance: term, whole life, survivor whole life, whole life plus term, universal, and variable. 


Term policies through Thrivent are available in 10-, 15-, 20- and 30-year lengths. Coverage is available starting from $100,000. There's no stated maximum coverage with these policies. Additionally, Thrivent’s term policies sometimes pay dividends but never build cash value. 

Quotes are available for term policies online and there are four different health classifications: Standard, Preferred, Super-preferred, and Preferred-Best. The health classification you receive will depend on your underwriting results. You will be charged the best rate you qualify for but you may also be charged a higher rate or due to your health, you may not be able to receive coverage. 

Whole Life

Whole life is coverage that lasts for a lifetime and there are several different ways to pay for it. Thrivent offers the ability to pay for a whole life policy in 20 or 30 years, throughout the insured’s life, to age 70, or with a single payment. 

The 20-pay means the insured makes 20 annual payments; the 30-pay means they will make 30 annual payments; and the whole life means they will make payments for the duration of their life. The shorter the time frame chosen, the higher the premium payments will be. Once a contract is paid for, in 20 or 30 years, for example, the coverage remains intact for the rest of the insured’s life. 

Whole Life policies at Thrivent include: 

  • Protection for the insured’s lifetime
  • Premiums that last for a certain number of years or a lifetime
  • Guaranteed cash value growth
  • Potential to earn dividends

Whole Life Plus Term

Thrivent’s whole life plus term offers customers the option to have complete coverage but at a more reasonable price point. Whole Life plus term policies: 

  • Include both whole life protection for lifetime plus term insurance renewed annually up to age 95
  • Guaranteed cash value growth
  • Give the potential to earn dividends

Whole life plus policies also offer the option to purchase paid-up additions for an additional premium, increasing the contract’s cash value and accelerating the replacement of a one-year term life policy with a whole life policy

Survivor Whole Life

Another type of permanent life insurance offered by Thrivent, this policy covers two individuals with the benefit paid out after the death of the second person insured. You can choose a mix of whole life and other protections based on the premiums you prefer to pay.

Universal Life

Thrivent’s universal life policy is great for those looking for flexibility in payments and coverage. With a universal life policy, there is no minimum premium payment due to keep coverage in place. If you reduce or skip payments, you may lower your coverage amount. Note that if your needs change, you may want to lower your coverage to keep the policy in force.

Additional payments may increase coverage amount or cash value accumulation, and the cash value is credited interest based on current rates which may change over time but will not go below a guaranteed minimum.

Universal life policies with Thrivent offer: 

  • Flexible premium payments, including how much to pay towards your policy each month, and the ability to change payment amounts and frequency at anytime
  • Ability to adjust the amount of death benefit 
  • Cash value that follows market performance or has a minimum interest rate
  • Access to cash value for potential supplemental income

Variable Universal Life

Thrivent’s variable universal life gives customers the ability to have life insurance coverage with an investment component. Like their universal life policies, you can change how much and how often you make payments. Although making payment changes can affect how quickly your policy accumulates cash, it’s an option if your income changes. 

Variable universal life policies with Thrivent offer: 

  • Flexible premiums payments just like universal life policies
  • Investment options; contracts include the ability to choose investments that fit risk and goals tolerance
  • Access to cash value for supplemental income 

Available Riders

Riders are optional add-ons that can be added to life insurance policies to increase flexibility or coverage options. Typically riders cost an additional premium to add on, although some might be included with your policy. 

Premium Waiver Benefit

With this waiver, premiums can be waived if you become disabled. If you decide to convert to permanent insurance during the disability period, premiums will continue to be waived. It's available for term life insurance policies. 

Guaranteed Purchase Options (GPO)

The Guaranteed Purchase Options rider is available on whole life policies. It gives the options for insured up to the age of 17 to preserve their future insurability. 

Guaranteed Increase Options (GIO)

The Guaranteed Increase Options rider is available on the universal and variable universal policies. It helps preserve future insurability for those insured up to the age of 17. 

Customer Service: Sufficient

Thrivent offers several ways to get in touch, either as a prospective or an existing customer: 

  • A customer service line that will help connect you with a local Thrivent representative: 800-492-1231
  • A client services line for existing customers, open Monday-Friday from 7:00 a.m. to 6:00 p.m. CST: 800-847-4836
  • Financial representatives available Monday-Friday from 8:00 a.m. to 6:00 p.m. CST: 888-834-7434
  • An online form to have a Thrivent representative call you

You can also access the member portal that allows current members to view their policies, pay premiums, communicate with their representatives, and manage their accounts.

There is no live chat option for customer service. If you have a question about Thrivent’s policies or becoming a member, you’ll have to speak to someone over the phone.

Customer Satisfaction: Above Average

According to the National Association of Insurance Commissioners (NAIC) complaint index, Thrivent received six complaints in 2018, three complaints in 2019, and three complaints in 2020. The average complaint score is a 1, but Thrivent was rated only a .13 on the complaint index, putting it well below average.

Thrivent was not rated in the J.D. Power Life Insurance survey. 

Financial Strength: Superior

Thrivent has been rated A++ by AM Best for its financial stability, which is the highest rating of the 16 that A.M. Best awards. The AM Best rating reflects Thrivent’s strong management of financial resources and ability to pay their claims. 

Cancellation Policy: Limited Information Online

It is possible to cancel a Thrivent life insurance policy, though there is not a lot of information available online about fees associated with cancellation. To learn more, you will have to discuss it with a financial representative. It’s also a good idea to inquire about the free-look period, which would allow you to review the policy for a certain time and cancel risk-free if needed.

You can find the Life Surrender Request form online, which gives you the option to fully or partially surrender your policy. 

Before finalizing the details of your policy, be sure that you are familiar with the cancellation policy including how much it will cost you if you do need to cancel. 

Price of Thrivent Life Insurance: Quotes Available Online

Quotes are available for term products online, while quotes for other policies are available by speaking to a representative. To receive a quote you must enter your age, location, gender, and tobacco use status. 

A 35-year-old female with no tobacco use was quoted the following for $1,000,000 30-year term of coverage: 

  • Standard health classification: $106.21/month
  • Preferred health classification: $89.87/month
  • Super-preferred health classification: $66.65/month
  • Preferred-best health classification: $55.47/month

A 35-year-old male with no tobacco use was quoted the following for $1,000,000 of 30-year term coverage: 

  • Standard health classification: $135.45/month
  • Preferred health classification: $112.23/month
  • Super-preferred health classification: $79.55/month
  • Preferred-best health classification: $66.65/month

Even though you can obtain a quote online, you won’t be able to apply. You can fill out a form or call the number given to discuss options or a representative can reach out to you via email or phone. 

How Thrivent Compares to Other Life Insurance

Thrivent is a strong competitor in the life insurance space, with plenty of policy and rider options for member customization. With its online quote availability, above-average customer service, and unique charitable giving focus, it is a great choice for those looking for coverage from a not-for-profit provider. 

Thrivent Life Insurance vs. Northwestern Mutual Life Insurance Review 

Both Thrivent and Northwestern Mutual were founded in Wisconsin and offer a variety of term and whole life insurance policies. Northwestern Mutual offers 12 different policy options, while Thrivent offers five, but both companies have superior ratings by AM Best and strong customer service reviews. 

There are also several other key differences including:

  • Northwestern Mutual only offers a 10- and 20-year term policy, while Thrivent offers 10-, 15-, 20- and 30-year options. 
  • Northwestern Mutual offers an accelerated care rider, while Thrivent does not. 
  • Thrivent offers the option to pay whole life premiums for 20 or 30 years, with one lump sum (single premium), and to ages 70 or 95 while Northwestern Mutual only offers 65- and 90-year payment options. 

Although both companies are good choices, Thrivent has more options for payment lengths as well as a nonprofit status and charitable focus. The ability to choose how long to make payments helps customers fit life insurance into their budget, and due to Thrivent’s nonprofit status, customers have the opportunity to share their time and wealth with communities that need it. 

Read our full review of Northwestern Mutual.

Final Verdict

As a not-for-profit life insurance company, Thrivent provides a wide array of policy options and riders to fit different needs. Although it offers limited information online about its policies, it’s easy to connect with a financial representative for more information. Thrivent’s life insurance calculator helps potential customers determine how much protection they need, and once you become a member, you can log in to allocate Thrivent funds to your favorite organizations. 

Overall, Thrivent has great customer service with a generosity-focused mission that helps members obtain the coverage they need while giving back to their communities.


All of our reviews of life insurance companies are based on extensive research and analysis of each company’s offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features, and reported customer experiences. Visit our life insurance review methodology for the full breakdown of what we evaluated for over two dozen companies.