Intro
When it comes to planning for long-term care, choosing the right insurance policy isn't just about protecting your finances—it's about aligning your plan with your values.
Thrivent Financial is a not-for-profit fraternal benefit society where members share a common bond: Christianity. With a commitment to serving its members and communities, Thrivent offers long-term care insurance (LTCi) policies that combine financial security with a focus on purpose and values.
Thrivent stands out for:
- Christian focus: Your premiums support a mission.
- Rock-solid company: Financially highly rated.
- Two different policies: Choose the policy that's right for you.
- Shared care benefit rider: Give your partner more benefits.
- More tax savings: Lower your overall policy costs.
As you consider your options, let "LTC" guide you: Learn about options, Talk with family, and Create a plan that supports your shared future. If you're looking for a policy that not only provides financial protection but also aligns with a greater sense of purpose, this policy should be considered in your plan.
Post jargon
benefit: the amount LTCi pays for covered care expenses
benefit period: the maximum time LTCi pays for care after criteria are met
benefit pool: total amount available in LTCi for care expenses
cash indemnity: pays the full benefit, regardless of the actual care costs
death benefit: a payout to a beneficiary from a hybrid policy after the insured passes away
elimination period: the waiting period after criteria are met before benefits start
exclusion: an insurance rule that denies benefits for specific risks
inflation protection: LTCi benefit that adjusts for rising costs
premium: the payment to maintain insurance
rider: an insurance add-on
underwriting: insurer’s review process to decide coverage and cost
➡️ Explore all the LTC jargon
Standard benefits
Thrivent also comes with many standard benefits of modern LTCi policies:
- Guaranteed premiums: Your costs can never...go...up (except for lifetime payments with the traditional policy).
- Guaranteed benefits: Your payouts always match your policy terms.
- Benefit triggers: Coverage starts when you need help with two ADLs or cognitive decline.
- Broad coverage: Includes home health care, adult day care, assisted living, nursing homes, memory care, CCRCs, care coordination, respite care, and hospice.
- Inflation protection (optional): Keeps your benefits aligned with rising costs.
- Death benefit: If you never use your benefits, your family receives a payout upon your death for the hybrid policy.
- Money-back option: Cancel your policy anytime and get some or all of your money back with the hybrid policy.
What's special about Thrivent?
In a competitive market, policies often include standout features to set themselves apart. Let’s take a closer look at what makes Thrivent special.
Christian focus
Your premium goes to more than just your insurance policy but to an organization that gives back to their community.
To become a member of Thrivent and purchase insurance, you need to select one of the following qualification types:
- I am a Christian, seeking to live out my faith; or
- I am the spouse of a Christian who seeks to live out his or her faith.
Once you're a member, you can lead Action Teams to meet a need in your community, direct Choice Dollars to causes, help in disaster relief, and even get involved in homebuilding.
Check out this 30-second video from their Follow Your Heart campaign.
Rock-solid company
Thrivent is the highest-rated insurer we offer, with the highest rating available from AM Best at A++. Buying insurance from a strong company ensures reliable claims, quality service, and long-term peace of mind. If Thrivent ever went bankrupt, there would probably be bigger problems on Earth than this.
Two different policies
In this post, we'll review the two LTCi policies offered by Thrivent:
- 'Standalone' traditional policy
- 'Careforward' hybrid policy
By offering two policies, customers can evaluate both for their relative costs and benefits.
Shared care benefit rider
If you and your partner have identical Thrivent LTC policies, this rider lets you share each other's benefits. If you use up all your coverage but still need care, you can tap into your partner's remaining benefits. And if you use 100% of their coverage, you can purchase an extra 24 months of benefits for them—no extra underwriting needed.
More tax savings
Their traditional policy offers greater tax deduction opportunities. It also qualifies as a partnership policy, which can help protect some of your assets from MedicAID spend-down requirements if you deplete your LTCi benefits.
The details
If this policy sounds intriguing, we'll cast our line into the details and reel in everything you need to know.
We rate each policy’s benefits, premiums, underwriting, and company on a three-star scale, with three stars being the best.
Benefits
Benefits are what the policy pays for covered care expenses.
Thrivent offers fewer financial benefits than others we sell. However, if you like this policy's features, request a personal quote—benefits vary by gender, age, health, and state.
Premium
Premiums are the payments made to maintain insurance coverage.
Most Thrivent premiums are guaranteed not to increase, and the policies offer a variety of premium options.
Underwriting
Underwriting is how an insurance company evaluates your health and history to determine coverage and pricing.
Thrivent's underwriting process is more thorough and slower compared to other insurers we offer.
Company
Choose a top-rated insurer for reliable LTC coverage. We work only with financially strong companies to ensure they’ll be there when it counts.
Thrivent boasts exceptional financial strength and holds the highest ratings among all the insurers we offer.
Comparisons
How does this policy stack up against others? Focus on what matters most to you to find the best fit.
Benefits
Compare the benefits of all the LTCi policies we offer. In the table, you can:
- Search for any detail.
- Tap any column title to sort.
- Scroll right to view more columns. ➡️
Next steps
If this policy seems like a good fit, take the quiz below and include 'Thrivent' in the notes section at the final step.
Wrap up
If you value knowing your premium supports more than just your insurance policy—contributing to an organization dedicated to giving back to the community—Thrivent could be an excellent choice. With unmatched financial strength among the insurers we offer, Thrivent provides exceptional stability.
However, if maximizing your benefit pool is your top priority, we recommend exploring multiple quotes, as you might find more competitive options from other policies we offer.
