March, 24 2017

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Thrivent Financial Life Insurance Review 2016

Thrivent Financial Life Insurance Review 2016

Author
  • Price
  • Financial Strength

Thrivent Financial Life Insurance Review 2016

Pros: Financial Strength & Ratings– Thrivent Financial has the highest financial rating available from the leading rating agency A.M. Best with an A++ (Superior) grade and possess a 98 out of 100 Comdex score in 2016.  Awards– Thrivent Financial for Lutherans was an honoree for The World’s Most Ethical Companies designation in 2014.  Size– Thrivent Financial is a fortune 500 company (#335 in 2014) and is the largest fraternal benefit society in America with over two and a half million members. Volunteering– In 2013, the organization contributed nearly $183 million and its members volunteered more than 8.6 million volunteer hours.

Cons: Not too many cons with this company.

Bottom Line: Thrivent Financial for Lutherans life insurance is very impressive.  Thrivent is one of the few insurers in America to receive an A++ (Superior) financial rating from A.M. Best.  In addition, they have a near perfect Comdex rating (98 out of 100).  Thrivent is a Fortune 500 company with roughly 2.4 million members.  As their previous name implies (Thrivent Financial for Lutherans), Thrivent Financial is a Christian based organization.  In 2013, their members voted to allow non-Lutheran Christians to join and subsequently changed their name to Thrivent Financial. Overall, we were very impressed with Thrivent Financial’s life insurance products, ratings and rates.  As with all the company’s we review, we recommend that you receive a quote from Thrivent Financial and from the other top life insurance companies as well and choose the best company for you.

About

Type: Fraternal Benefit Society

Issued by: Thrivent Financial for Lutherans, Thrivent Life Insurance Company

Founded: 1902

Website: www.thrivent.com

Phone: (800) 847-4836

Address: 4321 N. Ballard Road, Appleton, WI 54919 and 625 Fourth Avenue S., Minneapolis, MN 55415

A.M Best Rating: A++ (Superior) Highest of 16 possible ratings

Comdex Ranking: 98 out of 100

BBB Rating: A+  

Life Insurance Products: Term Life Insurance (coverage available in 10, 15, 20 and 30 year terms), Whole Life Insurance Whole Life 65, Whole Life 121, Single Premium Whole Life, Survivor Whole Life, Whole Life Plus Term Protection, Universal Life and Variable Universal Life.

States Conducts Business in: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Washington, West Virginia, Wisconsin, Wyoming,

Competitors: New York Life, Northwestern Mutual, TIAA-CREF, MassMutual, Mutual of Omaha, Country Financial, John Hancock, Ohio National Life PennMutual, Principal, State Farm, Farmers, Allstate, American General Life, Banner Life, Protective Life, Primerica, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential, Midland, Cincinnati Life, ANICO, TIAA-CREF, Guardian, OneAmerica, Sagicor, Amica, Minnesota Life, RiverSource, Allianz Life Insurance Company, AAA, Erie.

Price Comparison

Sample rates for a $250,000 policy on a 20-year term at each company’s best health class, for a 40-year old male, non-smoker.

AgeThriventAIGMetLifePrudential
40$22.75$20.04$21.51$25.65