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The Multi-Year Guarantee Series annuity* is designed for the long-term investor. You choose how long to invest your money—investing all or a portion in one or more guaranteed time periods.
This annuity offers multiple guarantee periods—typically between three and 10 years—so you can lock in several guaranteed rates. When a guarantee period ends, you have the option to reinvest your money at the current interest rate for whatever guarantee period you choose.
Flexibility
You can make premium payments to a Multi-Year Guarantee Series annuity at any time. Start with a $2,000 initial payment for an IRA account—or $5,000 for non-IRA account—and add additional premiums of $2,000 or more as often as you like.**
This flexibility adds to the "laddering" effect, which allows you to continue to reinvest your savings over time, or withdraw your money when you need it.***
Competitive long-term rates
A first-year bonus interest rate may be available depending on the accumulated value and guaranteed period you choose. With this option, you have the potential to lock in a higher rate than the regular rate for the first full year.
*This product is not available in all states.
**Subject to maximum annual IRA contribution limits.
***Surrender charges and a Market Value Adjustment (MVA) may apply to surrenders. If a taxpayer is younger than 59 1/2 at the time of distribution, a 10-percent federal tax penalty will apply to the taxable portion of the distribution unless a penalty-tax exception applies. The taxable portion of each annuity distribution is subject to income taxation.
Multi-Year Guarantee Series Features
Guaranteed interest rate
Competitive interest rates locked in for three- to 10-year
guarantee periods. In subsequent years, the initial rate
may change as interest rates fluctuate. Thrivent Financial
also guarantees the rate will never fall below a certain
level.* |
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Surrender charges-(Rolling and Resetting)****
| 1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| 7% |
7% |
7% |
6% |
5% |
4% |
3% |
2% |
1% |
0% |
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Market value adjustment
A market value adjustment (MVA), if applicable, will
be made if funds are withdrawn before the end of the
guarantee period.
Market value adjustments are waived during the 30-day period prior to the end of each guarantee period.
Surrender charge waivers+
The surrender charge is waived in the following situations:
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- Annuitization
- Death of annuitant
- Confinement to nursing home++
- Early Advantage (substantially equal periodic payments)
- Terminal illness
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Guarantees are backed by the financial strength of Thrivent Financial for Lutherans.
*Guaranteed minimum interest rates vary by state.
**$1,000 initial minimum premium to any guarantee period.
***Higher amounts permitted with approval.
****Charges are based on a percentage of the amount surrendered.
+Some limitations might apply.
++Nursing home confinement waiver is not available in all states.
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Your Thrivent Financial representative can help
Contact your financial representative for more information about a Flexible Premium Deferred Annuity or Single Premium Deferred Annuity from Thrivent Financial for Lutherans. He or she can provide you with costs, complete details of coverage, exclusions, reduction of benefits, and terms under which the contract may be continued in force or discontinued.
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