This beneficiary designation is effective and revokes all previous beneficiary designations upon: 1) successful completion of the electronic signature process online, or 2) submission to and approval by the Service Center.
The beneficiaries named may select any available method of settlement when the death proceeds become payable.
If any beneficiary dies at the same time as the insured or within 15 days after the insured dies and before the death proceeds are paid, Thrivent Financial will pay the death proceeds as though that beneficiary died before the insured, unless otherwise provided.
If two or more persons are named as primary beneficiaries, the death proceeds will be paid equally to the survivors or survivor, unless otherwise directed. The same shall be true for contingent beneficiaries if no primary beneficiaries survive. If none of the beneficiaries survive, proceeds shall be paid to the owner or to the owner's estate.
Thrivent Financial for Lutherans is a fraternal benefit society. To comply with laws, proceeds from the contract(s) must be paid for the benefit, direct or indirect, of its members, their family, dependents or other eligible beneficiaries as permitted by the bylaws of Thrivent Financial. When naming a trust beneficiary, the beneficiaries of the trust must qualify as eligible beneficiaries. If the trust beneficiaries are ineligible under the bylaws, the proceeds will not be paid to the trust and will be paid as if the trust was no longer in existence. Payment according to the terms of the contract shall fully discharge Thrivent Financial from all liability.
Children, sons, daughters, brothers, sisters, half-brothers, half-sisters, grandchildren, great grandchildren, granddaughters and grandsons are the only acceptable group designations. All group designations listed which are named in the singular will include all members of that group at time of death of the insured.
The words "children," "issue," "grandchildren" and "children of a deceased child" shall include adopted children, adopted issue, adopted grandchildren and adopted children of a deceased child unless otherwise specified.
When the term "per stirpes" is used, Thrivent Financial will pay the death proceeds to those designated beneficiaries who survive the insured by 15 days; except that if any named beneficiary predeceases the insured or dies within 15 days after the insured, leaving issue surviving the insured, the share of such deceased beneficiary shall be paid to that beneficiary's issue in equal shares. If a designated beneficiary dies without leaving children (e.g., issue), that beneficiary's share of the death benefit proceeds will be distributed among the remaining designated beneficiaries in proportionate shares. Thrivent Financial accepts the term "per stirpes" when the individual named is related to the benefit member by blood, marriage or legal adoption.
The interest of any beneficiary is subject to any collateral assignment of the contract.
The terms "annuitant" and "insured" are interchangeable regardless of where they appear on this form.
The term "payee" replaces the term "insured" and the term "successor payee"replaces the term "beneficiary" whenever this form is used in connection with designations under settlement agreements, except that the successor payee(s) must be indicated in relationship to the payee and not the member.
If this contract has joint annuitants who are also joint owners, then each annuitant will be the other annuitant's sole primary beneficiary. If there are joint annuitants who are also joint owners, we will pay the death proceeds to the primary or contingent beneficiaries listed on this beneficiary designation only when there is no surviving annuitant.
In order to aid in locating your beneficiary upon your death, provide your beneficiary's date of birth, Social Security number, address and phone number, if available. When naming a group designation, please provide us with this information for the current members of that group.
If you have ever signed a marital property agreement with your spouse or former spouse or lived in a community property state while married, your spouse or former spouse may have rights to the death proceeds of your contract/account even if you choose not to name your spouse as beneficiary. Thrivent Financial is not responsible for determining whether your contract/account or death proceeds are subject to community property laws or a marital property agreement or whether you should obtain spousal consent when naming your beneficiary. Thrivent Financial will not be liable for acting in accordance with the designation on file unless we have received a properly documented community property or marital property agreement claim prior to paying death proceeds.
When specific dollar amounts are used in the designation and death proceeds are insufficient to pay as designated, proceeds will be paid in the same proportion that a beneficiary's designated dollar amount has to the sum of all designated dollar amounts for that beneficiary class.
Any beneficiary change request completed to comply with the requirements for the Long Term Care Rider (LTC) is conditional upon the approval of the LTC rider issued. If the LTC rider is not approved, the beneficiary change is null and void.
When naming multiple individuals to receive a share of the proceeds and an individual predeceases the insured, this share of the proceeds will be paid to the surviving individual(s) named to receive that portion.
If a trust owns a contract, but the designated beneficiary is not the trust, legal and tax issues may arise. It is the responsibility of the trustee to ensure that the beneficiary designation is consistent with the objectives of the trust.