|
Thrivent Flexible Premium Deferred
Variable Annuity |
Thrivent Variable Annuity Account A | |
| |
Updating Summary Prospectus | |
April 30, 2024 |
Content |
Description of Changes |
Fee Table |
The current Mortality and Expense Risk charge has been reduced from
1.25% to 1.15%.
The Fee Table was updated to reflect the new range of fees for Annual
Portfolio Company Expenses. |
Important Information You Should
Consider About the Contract |
The Annual Portfolio Company Expenses table was updated to reflect the
new range for the current fees associated with each
Portfolio. |
Appendix: Portfolios Available
Under the Contract |
The Annual Portfolio Company Expenses and performance data have been updated. |
FEES AND EXPENSES |
Location in
Statutory
Prospectus | |||
Charges for Early
Withdrawals |
There are no charges for making a full or partial withdrawal. |
| ||
Transaction
Charges |
There may be charges for other transactions. You may make 12 free subaccount transfers in each Contract Year. On subsequent subaccount transfers (other than the Dollar Cost Averaging and
Asset Rebalancing programs), you will incur a $10 transfer charge.
You will also pay a charge if you request a wire transfer of funds from your
Contract
to another financial institution. That financial institution may also
charge a fee to receive a wire. You will also pay a charge if you request to
have a check sent to you using an overnight mail
service. |
Charges – Transfer
Charge |
Ongoing Fees and
Expenses (annual
charges) |
The table below describes the fees and expenses that you may pay each
year, depending on the options you choose. Please refer to your
Contract specifications page for information about the specific fees you will pay each
year based on the options you have elected. |
Charges | ||
Annual Fee |
Minimum |
Maximum | ||
0.0% |
1.25% | |||
Investment Options (
Portfolio fees
and expenses as a percentage of
daily net assets)
Expenses may be higher or lower in
future years. More detail is contained
in the prospectus for each Portfolio. |
0.23% |
1.50% | ||
Because your Contract is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your Contract,
the following table shows the lowest and highest cost you could pay
each year, based on current charges. This estimate assumes that you
do not take withdrawals from the Contract, which could add surrender charges that substantially increase costs. | ||||
Lowest Annual Cost: $1,405 |
Highest Annual Cost: $2,681 | |||
Assumes: |
Assumes: | |||
Investment of $100,000 |
Investment of $100,000 | |||
5% annual appreciation |
5% annual appreciation | |||
Least expensive Portfolio fees and
expenses |
Most expensive Portfolio fees and
expenses | |||
No optional benefits or riders |
No optional benefits or riders | |||
No sales charges |
No sales charges | |||
No additional premium payments,
transfers or withdrawals |
No additional premium payments,
transfers or withdrawals | |||
RISKS |
Location in
Statutory
Prospectus | |||
Risk of Loss |
You can lose money investing in the
Contract. |
Principal Risks of
Investing in the
Contract | ||
Not a Short-Term
Investment |
The Contract is not a short-term investment and is not appropriate for you if
you need ready access to cash. |
Principal Risks of
Investing in the
Contract | ||
Risks Associated
with Investment
Options |
An investment in the
Contract is subject to the risk of poor investment
performance and can vary depending on the performance of the portfolios
Account) will have its own unique risks, and you should review the
prospectuses for the Portfolios before making an investment
decision. |
Principal Risks of
Investing in the
Contract | ||
Insurance
Company Risks |
Any obligations, guarantees or benefits are subject to the claims-paying ability
of Thrivent. More information about Thrivent, including its
financial strength ratings are available upon request by calling
(800) 847-4836 or by sending an email to
mail@thrivent.com. |
Principal Risks of Investing
in the Contract |
RESTRICTIONS |
Location in
Statutory
Prospectus | |||
Investments |
We reserve the right to add, delete, combine or substitute investment
options. We charge $10 for each transfer of
Accumulated Value you make in excess of
12 transfers per year.
You may not allocate or transfer less than $50 to either the subaccount(s) or
the
Fixed Account.
You may make only one transfer from the
Fixed Account in each Contract
year. The amount transferred from the
Fixed Account in any Contract Year
may not exceed the greater of $500 or 25% of the value in the
Fixed Account. |
Purchases and
Contract Value | ||
TAXES |
Location in
Statutory
Prospectus | |||
Tax Implications |
You should consult with a tax professional to determine the tax implications of
an investment in and withdrawals or benefits received under the
Contract.
There is no additional tax benefit if the
Contract is purchased through a
tax-qualified plan or individual retirement account (IRA). Withdrawals will be
subject to ordinary income tax and may be subject to a 10%
federal tax penalty, if under age 59 1∕2 and no exception applies. |
Taxes | ||
CONFLICTS OF INTEREST |
Location in
Statutory
Prospectus | |||
Investment
Professional
Compensation |
The financial advisor or professional will receive trailing compensation based
on the Contract’s
Accumulated Value. Financial advisors or professionals may
have an incentive to offer or recommend the
Contract over another
investment. They may also have an incentive to recommend you move to a
new product. |
Distribution of the
Contracts | ||
Exchanges |
Some financial advisors or professionals may have a financial incentive to
offer you a new contract in place of the one you already own. You
should only exchange your
Contract if you determine, after comparing the features, fees,
and risks of both contracts, that it is preferable for you to purchase the new
Contract
rather than continue to own the existing contract.
|
Taxes – Exchanges of
Annuity
Contracts |
The sum of the accumulated values for your Contract in subaccounts and the
Fixed Account. | |
A date on which annuity payments begin. | |
The Contract between you and us providing the individual flexible premium
deferred variable annuity. | |
An investment allocation option that credits an interest rate. The Fixed Account
is part of our General Account. The Fixed Account is not a subaccount.
For the current interest rate, please call our Service Center at
1-800-847-4836. | |
A mutual fund in which a subaccount invests. Each subaccount invests
exclusively in the shares of a corresponding Portfolio. |
|
A retirement plan that receives favorable tax treatment under Section 401, 403,
408, 408A, or similar provisions of the Internal Revenue
Code. | |
Thrivent, 4321 North Ballard Road, Appleton, Wisconsin, 54919-0001, telephone, 1-800-847-4836, or such other office as we may specify in a notice to the Contract Owner. |
INVESTMENT
TYPE |
PORTFOLIO AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE ANNUAL TOTAL RETURNS
(as of 12/31/23) | ||
1 YEAR |
5 YEAR |
10 YEAR | |||
Allocation -
85%+ Equity |
Thrivent Aggressive Allocation Portfolio |
0.77%1 |
19.31% |
11.56% |
8.61% |
Large Growth |
Thrivent All Cap Portfolio |
0.68% |
22.13% |
14.75% |
10.10% |
Allocation -
30% to 50%
Equity |
Thrivent Balanced Income Plus Portfolio |
0.66% |
12.46% |
6.86% |
5.32% |
Allocation -
15% to 30%
Equity |
Thrivent Diversified Income Plus Portfolio |
0.49% |
10.20% |
4.73% |
4.13% |
Diversified
Emerging
Mkts |
Thrivent Emerging Markets Equity Portfolio |
1.15%1 |
9.13% |
3.32% |
1.88% |
Large Blend |
Thrivent ESG Index Portfolio |
0.36%1 |
28.19% |
N/A4 |
N/A4 |
Global
Large-Stock
Blend |
Thrivent Global Stock Portfolio |
0.63% |
22.03% |
11.08% |
7.95% |
Intermediate
Government |
Thrivent Government Bond Portfolio |
0.46% |
4.37% |
0.90% |
1.63% |
Health |
Thrivent Healthcare Portfolio |
0.85%1 |
4.15% |
10.65% |
8.88% |
High Yield
Bond |
Thrivent High Yield Portfolio |
0.47% |
11.83% |
4.25% |
3.66% |
Corporate
Bond |
Thrivent Income Portfolio |
0.44% |
9.29% |
3.04% |
3.09% |
Foreign Large
Blend |
Thrivent International Allocation Portfolio |
0.75% |
18.11% |
6.70% |
3.47% |
Foreign Large
Blend |
Thrivent International Index Portfolio |
0.42% |
17.76% |
N/A4 |
N/A4
|
Large Growth |
Thrivent Large Cap Growth Portfolio |
0.43% |
47.07% |
17.99% |
13.82% |
Large Blend |
Thrivent Large Cap Index Portfolio |
0.23% |
26.01% |
15.42% |
11.74% |
Large Value |
Thrivent Large Cap Value Portfolio |
0.63% |
12.87% |
13.04% |
9.37% |
Short-Term
Bond |
Thrivent Limited Maturity Bond Portfolio |
0.45% |
6.38% |
2.17% |
1.97% |
Global
Large-Stock
Blend |
Thrivent Low Volatility Equity Portfolio5 |
0.90%1 |
8.06% |
7.58% |
N/A2 |
Mid-Cap
Growth |
Thrivent Mid Cap Growth Portfolio |
0.85%1 |
17.12% |
N/A4 |
N/A4
|
Mid-Cap
Blend |
Thrivent Mid Cap Index Portfolio |
0.25% |
16.19% |
12.36% |
8.98% |
INVESTMENT
TYPE |
PORTFOLIO AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE ANNUAL TOTAL
RETURNS
(as of 12/31/23) | ||
1 YEAR |
5 YEAR |
10 YEAR | |||
Mid-Cap
Blend |
Thrivent Mid Cap Stock Portfolio |
0.66% |
14.19% |
13.12% |
10.96% |
Mid-Cap
Value |
Thrivent Mid Cap Value Portfolio |
0.89%1 |
13.31% |
N/A4 |
N/A4 |
Allocation -
50% to 70%
Equity |
Thrivent Moderate Allocation Portfolio |
0.64%1 |
16.18% |
8.15% |
6.24% |
Allocation -
70% to 85%
Equity |
Thrivent Moderately Aggressive Allocation Portfolio |
0.71%1 |
17.60% |
9.56% |
7.25% |
Allocation -
30% to 50%
Equity |
Thrivent Moderately Conservative Allocation Portfolio |
0.61%1 |
12.09% |
5.42% |
4.48% |
Money
Market -
Taxable |
Thrivent Money Market Portfolio |
0.31% |
4.88% |
1.66% |
1.02% |
Multisector
Bond |
Thrivent Multidimensional Income Portfolio6 |
0.98%1 |
8.36% |
3.88% |
N/A2
|
Multisector
Bond |
Thrivent Opportunity Income Plus Portfolio |
0.70% |
8.93% |
2.37% |
2.51% |
Real Estate |
Thrivent Real Estate Securities Portfolio |
0.87% |
10.14% |
7.12% |
7.41% |
Small Growth |
Thrivent Small Cap Growth Portfolio |
0.94%1 |
9.86% |
13.60% |
N/A3 |
Small Blend |
Thrivent Small Cap Index Portfolio |
0.24% |
15.79% |
10.78% |
8.41% |
Small Blend |
Thrivent Small Cap Stock Portfolio |
0.70% |
12.62% |
14.55% |
10.63% |