Thrivent life insurance review: Low rates for Christians

Thrivent offers competitive rates on life insurance policies, but applicants must attest to being Christian.

Headshot of Logan Sachon

By

Logan SachonLogan SachonSenior Managing Editor, Life Insurance & ResearchLogan Sachon is the senior managing editor of life insurance and research at Policygenius, where she edits life insurance content and leads life insurance surveys and data studies. As a journalist, her work has appeared in The Guardian, Business Insider, CNN Money, BuzzFeed, Money Under 30, VICE, New York Magazine, and elsewhere.

Edited by

Adam MorganAdam MorganEditorial DirectorAdam Morgan is an editorial director at Policygenius who leads the life insurance team. Previously, he led editorial teams matrixed across multiple financial publications at Red Ventures — including Bankrate, NextAdvisor, Million Mile Secrets, and others.

Updated|1 min read

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Thrivent

Thrivent logo

Policygenius rating

Our proprietary ratings methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the “Ratings methodology” section for more details.
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4.5

AM Best rating

A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

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The bottom line

Thrivent has high customer experience and financial ratings and competitive rates, but it only offers products to people who attest that they are Christian. 

Note: Thrivent products are not available through the Policygenius marketplace.

Pros

  • Competitive rates

  • Whole life policies may pay dividends

Cons

  • Products only available to people who attest to being Christian

  • Term life not available in NY

Basic coverages offered

  • Term life insurance: Thrivent’s term life insurance product is available to people age 18 to 75 for terms of 10, 15, 20, and 30 years. Coverage is available for $100,000 to $2 million. 

  • Whole life insurance: Thrivent's whole life insurance is participating whole life, meaning policyholders may be eligible for dividends. Thrivent also offers whole life insurance for children

  • Universal life insurance: Thrivent offers universal life insurance, a permanent policy with flexible premiums.  

  • Variable universal life insurance: Thrivent’s variable universal life insurance product is called Thrivent Accumulation Variable Universal Life. VUL products feature cash value investing options.

Additional coverages offered

  • Accelerated death benefit for terminal illness rider: For no additional cost, the accelerated death benefit rider provides part of the death benefit if you are diagnosed with a terminal illness.

  • Disability waiver of premium rider: For an additional cost, the waiver of premium rider waives premiums during a period of disability.

Ratings methodology

Price

4.1/5

Our price rating scale compares insurance companies’  life insurance rates for a sample $1 million 20-year term policy for a 35-year-old female non-smoker with a Standard Plus health classification. Thrivent’s rates put it in the second most affordable category according to our rating system. 

Customer experience

5.0/5

Our customer experience scale uses data from the National Association of Insurance Commissioners (NAIC) complaint index. Thrivent has a score of at 0.02, which means it receives fewer complaints than expected for a company of its size. (That number would be 1.0.)

Transparency

3.6/5

Our transparency rating scale measures how easily shoppers and policyholders can find information about an insurer on its website. Thrivent gets points for having clear contact information, a support hub, and for displaying financial information, but lost points for not having its policy details, including coverage amounts, term lengths, and average rates, clearly posted. It also lost points for not having a chat feature.

Financial strength

4.9/5

Our financial strength rating is a weighted combination of three industry-leading metrics to measure a company’s financial health: A.M. Best, Standard & Poor’s, and Moody’s. Thrivent has an A++ rating from A.M. Best, an AA+ rating from Standard & Poor’s, and an Aa2 rating from Moody’s. 

A closer look at Thrivent 

Who is Thrivent best for? 

Thrivent requires its life insurance applicants to also apply for membership in its fraternal benefits organization, and to agree to a statement of Christian Common bond. Applicants must select that they are “Christian, seeking to live out my faith” or the “spouse of a Christian who seeks to live out his or her faith.”

What makes Thrivent unique?

Thrivent’s requirement of Christian identification sets it apart from other life insurance companies, including other fraternal benefit associations like Foresters Financial.

Who should consider a different life insurance company?

Anyone who is not willing or able to sign Thrivent’s statement of Christian common bond should look for life insurance coverage elsewhere.

Thrivent life insurance rates

Thrivent does not publish its life insurance rates.

Thrivent’s history, reputation, and social responsibility

Thrivent Financial for Lutherans was founded 2002 through the merger of the Aid Association for Lutherans (AAL), which was founded in 1902, and the Lutheran Brotherhood, which was founded in 1917. The company, known as Thrivent, is based in Minneapolis, MN. [1]  

The company is a membership-owned fraternal organization. In 2013, its membership voted to extend membership to all Christians, not just Lutherans. [2] Thrivent defines a Christian as one who believes in the Apostles Creed. Insurance policy applicants must also apply for membership and sign a statement of Christian Common Bond, attesting that they or their spouse are a “Christian living out [their] faith.” [3]

Thrivent calls itself "the original purpose-based company," and helps its clients with guidance and resources to make contributions to their communities through volunteering and impact investing. [4]

Thrivent in the news

  • In January 2023, Thrivent announced it would distribute $400 million in dividend payments and credited rate enhancements to its clients in 2023. (Thrivent)

  • In August 2023, Thrivent was named number 351 on the Fortune 500 list of the biggest U.S. companies. (Fortune)

Thrivent vs. other life insurance companies

Compare Thrivent to similar life insurance companies using the table below.

Company

Policygenius rating

AM Best rating

Cost

Thrivent

4.5/5

A+

$$

Guardian

4.5/5

A++

$$

Lincoln Financial

4.8/5

A

$

Symetra

4.3/5

A

$$

Protective

4.8/5

A+

$

Pacific Life

4.8/5

A+

$

MassMutual

4.9/5

A++

$$$

AIG

4.6/5

A

$

Banner Life

5.0/5

A+

$

Transamerica

4.6/5

A

$

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Frequently asked questions

What is Thrivent?

Thrivent is the marketing name for Thrivent Financial for Lutherens, a membership-owned fraternal organization that provides financial services and insurance products to people who identify as Christian.

Is Thrivent financial only for Lutherans?

No, in 2013 Thrivent extended membership to all people who identify as Christian and make a statement of Christian Common Bond.

Is Thrivent a good company?

Yes, Thrivent has high ratings for customer service and financial stability, including a A++ rating from A.M. Best.

How do I contact Thrivent?

To contact Thrivent, including the claims support team, call 800.847.4836 or visit the Thrivent website.

References

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Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of our

editorial standards.
  1. Thrivent

    . "

    History

    ." Accessed February 02, 2023.

  2. Twin Cities Business

    . "

    Thrivent Financial: Not Just For Lutherans Anymore

    ." Accessed February 02, 2023.

  3. Thrivent

    . "

    Thrivent's Christian Calling

    ." Accessed February 02, 2023.

  4. Thrivent

    . "

    About Us

    ." Accessed February 02, 2023.

Author

Logan Sachon is the senior managing editor of life insurance and research at Policygenius, where she edits life insurance content and leads life insurance surveys and data studies. As a journalist, her work has appeared in The Guardian, Business Insider, CNN Money, BuzzFeed, Money Under 30, VICE, New York Magazine, and elsewhere.

Editor

Adam Morgan is an editorial director at Policygenius who leads the life insurance team. Previously, he led editorial teams matrixed across multiple financial publications at Red Ventures — including Bankrate, NextAdvisor, Million Mile Secrets, and others.

Questions about this page? Email us at .

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