Carol Odum

Dynamic public health professional with strong analytical, communication, and teamwork skills, demonstrating a proven ability to swiftly adapt to new environments. Committed to team success and continuous professional development, bringing a positive attitude and dedication to lifelong learning. Experienced in health data analysis and program evaluation, with a track record of transforming complex datasets into actionable insights that drive public health improvements. Recognized as a valued team player, emphasizing collaboration and adaptability, complemented by strategic thinking and exceptional analytical capabilities.

• Thrivent Retirement Choice Variable Annuity
• A Flexible Premium Deferred Variable Annuity
• Prepared for: Valued Client
• Prepared by: Shannon Storch, FIC, BFA, CEPA
• Thrivent Investment Management Inc.
• 600 Portland Avenue South, Suite 100
• Minneapolis, MN 55415
• 920-242-1446
• 2025 Thrivent All Rights Reserved.
• 36003 R09-24 Prepared on March 15, 2025 08:14:12 AM
• Illustration must be preceded or accompanied by a product prospectus.
• At Thrivent, we believe money is a tool, not a goal. Driven by a higher purpose at our core, we are committed to providing financial advice, investments, insurance, banking, and generosity programs to help people make the most of all they've been given.
• Independent insurance analysts have given Thrivent high marks for our financial strength and our claims-paying ability. They are an important sign of our financial strength. Ratings do not apply to the performance of investment products.
• A++ (Superior) AM Best
• Highest of 13 rating categories August 2024
• Aa2 (Excellent) Moody’s Investors Service
• Third highest of 21 rating categories July 2024
• AA- (Very Strong) S&P Global Ratings
• Second highest of 20 rating categories March 2024

• With Thrivent Income Builder
• Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider
• Initial Premium: $400,000
• Plan Type: Traditional IRA
• Potential for Growth
• Choose from a variety of investment options that cover a wide range of asset types. Because it's an annuity, your assets can grow without being taxable until you take money out. You can make changes whenever you want to diversify your assets—based on changes in the financial world or your own circumstances—to tailor your investment allocations to fit your risk profile. Your allocations to the Subaccounts must meet certain requirements. Please see the current Rate Sheet for Allocation Options and Percentages. You will be notified when any requirements change.
• Hypothetical Model Illustrated: Moderately Aggressive
• Equities 75%
• Fixed Income 25%
• Guaranteed Income For Life
• Thrivent Income Builder (GLWB) Rider provides a guaranteed lifetime withdrawal amount that will be there no matter what the future may bring.
• As soon as you take your first withdrawal, your guaranteed annual withdrawal amount will be calculated. For purposes of this illustration, withdrawals begin at Age 73:
• Guaranteed Annual Income Additional Income with Growth
• Total Annual Income
• Age 73 $25,000 $0 $25,000
• Age 83 $25,000 $12,088 $37,088
• Age 95 $25,000 $32,179 $57,179
• Cumulative at Age 95
• $550,000 $403,439 $953,439
• When you begin taking withdrawals, your Guaranteed Annual Income is calculated and guaranteed for life as long as you do not withdraw more than the guaranteed amount. And, you can receive additional income—over and above the initial Guaranteed Annual Income amount—based on how your Benefit Base may have increased.
• The projected amounts shown are hypothetical based on the historical performance of the Moderately Aggressive hypothetical model portfolio. The actual amount of additional income payable at the time you take withdrawals will depend on the investment options selected and the performance of those options within your account. For more information, see the detailed illustration pages attached, including a projection assuming 0% return with maximum contract charges.
• Protecting Your Legacy
• Death Benefit upon proof of death: $400,000
• Your loved ones receive a death benefit so your legacy may pass to them. The death benefit is calculated as the sum of premiums paid adjusted for withdrawals. Please refer to Death Benefits for more information.

• Annuitant: Valued Client
• Age/Sex: 73 F
• Initial Premium: $400,000.00
• Plan Type: Traditional IRA
• Issue State: MD
• Living Benefit: Thrivent Income Builder (GLWB) Rider
• Guaranteed Withdrawal Frequency: Annually
• Death Benefit: Standard Death Benefit
• What is this illustration? This illustration shows how a Thrivent Retirement Choice Variable Annuity Contract could work for you. (It's issued by Thrivent, and distributed by Thrivent Investment Management Inc.) We hope it helps you see how the performance of the underlying investment accounts—either for good or for bad—could affect your contract's accumulated value, death benefit and optional riders over time. We based this illustration on hypothetical assumptions we made about what rates of return you could receive on your investments. Of course, because they are only assumptions, they do not project or predict investment results. The values you'll see are as of the end of the period unless we have indicated otherwise. Product features are subject to change.
• Gross Average Annual Return - The average annual gross return on your investment used to calculate values, before any contract, optional rider or investment fees are applied. It is used to calculate values based on the number of years illustrated.
• Year - Represents the number of full contract years assumed in this illustration. For historical illustration, the year will be represented by a date.
• Age - The age we use in creating this illustration is your age on the birthday that is nearest to the illustration date. The issue age for your contract depends on your age at the time of issue.
• Premium Payments - The initial amount of money used to purchase the annuity and any payments subsequently added to the contract after it was issued. Premium Payments greater than $1,000,000 need to be approved by the home office. This illustration assumes Premium Payments are made at the beginning of the period.
• Net Returns - The total annual return used to calculate values, after all contract fees, optional riders and investment fees are applied. It is used to calculate values based on the number of years shown in this illustration.
• Scheduled Surrenders - These are partial surrenders from the contract, including Guaranteed Annual Withdrawal Amount (GAWA). Surrender charges may apply over and above the scheduled surrender amount displayed. These partial surrenders are assumed to be at the beginning of the period. Excess surrenders beyond the guarantee will result in recalculation of your Guaranteed Annual Withdrawal Amount.
• Accumulated Value - The total cash value of the annuity, subject to gains and losses after all subaccount management fees, administrative charges, any applicable rider charges, and annual contract charges have been deducted.
• Surrender Value - The total cash surrender value is the Accumulated Value of the contract decreased by any surrender charges.
• Settlement Options - You have several options for creating a stream of income from your annuity (annuitization). These options include single life income with guaranteed period; joint and survivor life income with guaranteed period; income for a fixed period; and income of a fixed amount.
• These income options are available as soon as your contract is issued. However, if you annuitize your contract within three years from when we issued your contract, or three years from the date you made your latest premium payment, whichever is later, you may be subject to any applicable surrender charges. Provided there are no surrender charges, the amount available to elect income options is the Accumulated Value of the account.

• Thrivent Income Builder (GLWB) Rider - Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider that provides a Guaranteed Annual Withdrawal Amount for the life of the annuitant, as long as the rider is in force. Note that annual distributions may be required to begin no later than age 95.
• Guaranteed Annual Withdrawal Amount (GAWA) - The amount that can be withdrawn annually without reduction to future guaranteed values and is guaranteed to be paid each year even if the Accumulated Value is depleted by the GAWA. Guaranteed Annual Withdrawal Amounts are available at issue. These Guaranteed Annual Withdrawal Amounts are assumed to be at the beginning of the period.
• Annual Withdrawal Amount - The amount shown in the projection of values is the Guaranteed Annual Withdrawal Amount (GAWA) that could be withdrawn in the year shown, if your contract performed as illustrated. Once the GAWA withdrawals begin, they are guaranteed for life and will not be less than the amount available in the starting year as long as the withdrawals are no more than the GAWA. The withdrawal amount is calculated by applying the Guaranteed Withdrawal Percentage determined at time of initial withdrawal to the Benefit Base.
• GLWB Withdrawal Percentage - This percentage is set at time of initial withdrawal and is applied to the Benefit Base to determine the Guaranteed Annual Withdrawal Amount. This percentage is guaranteed.
• The Withdrawal Percentages are:
• Age Single Joint
• 50-59 4.00% 3.50%
• 60-64 4.75% 4.25%
• 65-69 6.00% 5.50%
• 70-74 6.25% 5.75%
• 75+ 6.50% 6.00%
• For joint, the age of the youngest covered person is used when determining the GLWB Withdrawal Percentage.
• GLWB Benefit Base - A value that is used to determine your annual withdrawal amount and benefit fees. Your initial Benefit Base is the premium you paid into the contract on the date of issue. The Benefit Base is eligible for increases and may decrease with partial surrenders. The Benefit Base is assumed to be at the beginning of the period. It is used only for calculating withdrawal benefits and it cannot be withdrawn and is not payable as part of death proceeds. In any year that your Accumulated Value exceeds the current Benefit Base on the contract anniversary, the Benefit Base will be stepped up to the new value and locked in.

• During the accumulation phase, we will pay Death Proceeds upon the death of an Owner, or the Annuitant if the Owner is a Non-Natural Person. The Death Benefit is calculated at the end of the valuation period during which we receive at our Service Center a certified copy of the death certificate.
• Death Proceeds - The amount of Death Proceeds is the greatest of the following: the Accumulated Value, the Standard Death Benefit and the Thrivent Income Builder (GLWB) Rider Death Benefit.
• Once calculated, these Death Proceeds continue to be subject to the investment experience of the Subaccounts. When based on the investment experience of the Subaccounts, Death Proceeds may increase or decrease daily and are not guaranteed for a minimum dollar amount. Only when a beneficiary provides the claim form and all claim requirements are in good order will that beneficiary's share of the Death Proceeds be removed from the market. In the case of multiple beneficiaries, we must receive a claim form in good order from each beneficiary. We process each claim independently at the time we receive each claim form. Therefore, beneficiaries receiving equal percentages on the Beneficiary Form may receive different dollar amounts.
• Standard Death Benefit - The Standard Death Benefit is equal to the sum of premiums adjusted for partial surrenders. As of the day a Partial Surrender is taken, the sum is decreased by the same proportion as the Accumulated Value was decreased by the amount taken.
• Thrivent Income Builder (GLWB) Rider Death Benefit - The GLWB Death Benefit is the sum of premiums less the amount of withdrawals that are not excess withdrawals, adjusted pro-rata for excess withdrawals.

• Annuitant: Valued Client
• Hypothetical Model: Moderately Aggressive
• Gross Average Annual Return: 10.08%
• Living Benefit: Thrivent Income Builder (GLWB) Rider
• Death Benefit: Standard Death Benefit
• Year Age Premium Payments Net Returns Scheduled Surrenders Accumulated Value Surrender Value Annual Withdrawal Amount Guaranteed Withdrawal Percentage Benefit Base
• Death Proceeds
• 1 73
• 400,000 26.05% 25,000 472,688 446,438 25,000 6.25% 400,000 472,688
• 2 74
• 14.16% 29,543 505,885 479,635 29,543 6.25% 472,688 505,885
• 3 75
• 1.09% 31,618 479,458 456,958 31,618 6.25% 505,885 479,458
• 4 76
• 10.70% 31,618 495,777 477,027 31,618 6.25% 505,885 495,777
• 5 77
• 23.61% 31,618 573,759 558,759 31,618 6.25% 505,885 573,759
• 6 78
• -3.57% 35,860 518,670 507,420 35,860 6.25% 573,759 518,670
• 7 79
• 22.91% 35,860 593,404 585,904 35,860 6.25% 573,759 593,404
• 8 80
• 4.00% 37,088 578,595 578,595 37,088 6.25% 593,404 578,595
• 9 81
• 6.37% 37,088 575,992 575,992 37,088 6.25% 593,404 575,992
• 10 82
• -3.28% 37,088 521,237 521,237 37,088 6.25% 593,404 521,237
• 11 83
• 28.73% 37,088 623,262 623,262 37,088 6.25% 593,404 623,262
• 12 84
• 14.47% 38,954 668,844 668,844 38,954 6.25% 623,262 668,844
• 13 85
• 23.69% 41,803 775,588 775,588 41,803 6.25% 668,844 775,588
• 14 86
• 19.89% 48,474 871,772 871,772 48,474 6.25% 775,588 871,772
• 15 87
• 11.94% 54,466 914,867 914,867 54,466 6.25% 871,772 914,867
• 16 88
• -7.37% 57,179 794,466 794,466 57,179 6.25% 914,867 794,466
• 17 89
• -10.46% 57,179 660,144 660,144 57,179 6.25% 914,867 660,144
• 18 90
• -17.95% 57,179 494,749 494,749 57,179 6.25% 914,867 494,749
• 19 91
• 17.17% 57,179 512,688 512,688 57,179 6.25% 914,867 512,688
• 20 92
• 4.24% 57,179 474,833 474,833 57,179 6.25% 914,867 474,833
• 21 93
• -0.89% 57,179 413,932 413,932 57,179 6.25% 914,867 413,932
• 22 94
• 7.00% 57,179 381,722 381,722 57,179 6.25% 914,867 381,722
• 23 † 95
• -0.28% 57,179 323,619 323,619 57,179 6.25% 914,867 323,619
• 24 96
• -32.46% 57,179 179,063 179,063 57,179 6.25% 914,867 179,063
• 25 97
• 7.29% 57,179 131,732 131,732 57,179 6.25% 914,867 131,732
• 26 98
• -8.03% 57,179 68,570 68,570 57,179 6.25% 914,867 68,570
• 27 99
• 0.00% 57,179 0 0 57,179 6.25% 914,867 0
• Annual Withdrawal Amount of $57,179 continues for life
• These values do not reflect the Required Minimum Distributions (RMDs) on a qualified account which must be taken annually starting the year required by IRS regulations. If RMDs are not illustrated for some or all years, the actual results you experience will be less if you subsequently take RMDs for any of those years.
• The amounts shown in bold are the years in which the Benefit Base is stepped up due to market performance. In these years, the Credit Base is increased to equal the Benefit Base. A new 10-year crediting period begins and future 6% credits are based on this amount, up to the maximum age of 80 or when withdrawals begin.
• In lieu of annuitization a Required Withdrawal Amount will be sent at the end of each contract year. If the Thrivent Income Builder is cancelled at age 95 or beyond, the entire annuity contract value must be paid out or annuitized.
• In this Year, the Accumulated Value is reduced to zero. Since the Benefit Base is not zero, a settlement option will be issued that pays the Guaranteed Annual Withdrawal Amount each Year while at least one Covered Person is living. Based on the hypothetical values in this illustration, the cumulative income at age 95 would be $953,439.
• # Contract will terminate due to partial surrender.
• Illustrated future changes do not occur automatically and must be requested by the owner at the time the change is desired. Due to contract requirements, certain future changes may not be illustrated as requested.
• The illustration is based on the historical performance of the hypothetical model selected. The performance data illustrated represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Refer to the Expenses and Charges section of this illustration or your prospectus for more detailed information.
• Hypothetical values are calculated using net returns, considering all applicable fees and expenses for this illustration.
• Premiums and any scheduled surrenders are assumed to be paid at the beginning of the period. Death proceeds, accumulated value, and surrender value are end of year.

• Annuitant: Valued Client
• Hypothetical Model: Moderately Aggressive
• Gross Average Annual Return: 10.08%
• Living Benefit: Thrivent Income Builder (GLWB) Rider
• Death Benefit: Standard Death Benefit
• Year Age Premium Payments Net Returns Scheduled Surrenders Accumulated Value Surrender Value Annual Withdrawal Amount Guaranteed Withdrawal Percentage Benefit Base
• Death Proceeds
• 1 73
• 400,000 25.10% 25,000 469,129 442,879 25,000 6.25% 400,000 469,129
• 2 74
• 12.93% 29,321 496,671 470,421 29,321 6.25% 469,129 496,671
• 3 75
• -0.04% 31,042 465,423 442,923 31,042 6.25% 496,671 465,423
• 4 76
• 9.39% 31,042 475,169 456,419 31,042 6.25% 496,671 475,169
• 5 77
• 22.40% 31,042 542,765 527,765 31,042 6.25% 496,671 542,765
• 6 78
• -4.68% 33,923 485,026 473,776 33,923 6.25% 542,765 485,026
• 7 79
• 21.43% 33,923 547,761 540,261 33,923 6.25% 542,765 547,761
• 8 80
• 2.85% 34,235 528,139 528,139 34,235 6.25% 547,761 528,139
• 9 81
• 5.13% 34,235 519,221 519,221 34,235 6.25% 547,761 519,221
• 10 82
• -4.49% 34,235 463,199 463,199 34,235 6.25% 547,761 463,199
• 11 83
• 27.05% 34,235 545,019 545,019 34,235 6.25% 547,761 545,019
• 12 84
• 13.22% 34,235 578,314 578,314 34,235 6.25% 578,314 578,314
• 13 85
• 22.40% 36,145 663,598 663,598 36,145 6.25% 578,314 663,598
• 14 86
• 18.63% 41,475 738,006 738,006 41,475 6.25% 663,598 738,006
• 15 87
• 10.73% 46,125 766,091 766,091 46,125 6.25% 738,006 766,091
• 16 88
• -8.45% 47,881 657,523 657,523 47,881 6.25% 766,091 657,523
• 17 89
• -11.73% 47,881 538,125 538,125 47,881 6.25% 766,091 538,125
• 18 90
• -19.48% 47,881 394,746 394,746 47,881 6.25% 766,091 394,746
• 19 91
• 14.36% 47,881 396,690 396,690 47,881 6.25% 766,091 396,690
• 20 92
• 1.55% 47,881 354,208 354,208 47,881 6.25% 766,091 354,208
• 21 93
• -4.01% 47,881 294,038 294,038 47,881 6.25% 766,091 294,038
• 22 94
• 2.66% 47,881 252,710 252,710 47,881 6.25% 766,091 252,710
• 23 † 95
• -5.68% 47,881 193,205 193,205 47,881 6.25% 766,091 193,205
• 24 96
• -39.14% 47,881 88,443 88,443 47,881 6.25% 766,091 88,443
• 25 97
• -33.56% 47,881 26,950 26,950 47,881 6.25% 766,091 26,950
• 26 98
• 0.00% 47,881 0 0 47,881 6.25% 766,091 0
• Annual Withdrawal Amount of $47,881 continues for life
• These values do not reflect the Required Minimum Distributions (RMDs) on a qualified account which must be taken annually starting the year required by IRS regulations. If RMDs are not illustrated for some or all years, the actual results you experience will be less if you subsequently take RMDs for any of those years.
• The amounts shown in bold are the years in which the Benefit Base is stepped up due to market performance. In these years, the Credit Base is increased to equal the Benefit Base. A new 10-year crediting period begins and future 6% credits are based on this amount, up to the maximum age of 80 or when withdrawals begin.
• In lieu of annuitization a Required Withdrawal Amount will be sent at the end of each contract year. If the Thrivent Income Builder is cancelled at age 95 or beyond, the entire annuity contract value must be paid out or annuitized.
• In this Year, the Accumulated Value is reduced to zero. Since the Benefit Base is not zero, a settlement option will be issued that pays the Guaranteed Annual Withdrawal Amount each Year while at least one Covered Person is living. Based on the hypothetical values in this illustration, the cumulative income at age 95 would be $845,380.
• # Contract will terminate due to partial surrender.
• Illustrated future changes do not occur automatically and must be requested by the owner at the time the change is desired. Due to contract requirements, certain future changes may not be illustrated as requested.
• The illustration is based on the historical performance of the hypothetical model selected. The performance data illustrated represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Refer to the Expenses and Charges section of this illustration or your prospectus for more detailed information.
• Hypothetical values are calculated using net returns, considering all applicable fees and expenses for this illustration.
• Premiums and any scheduled surrenders are assumed to be paid at the beginning of the period. Death proceeds, accumulated value, and surrender value are end of year.

• Annuitant: Valued Client
• Hypothetical Model: Moderately Aggressive
• Gross Average Annual Return: 0.00%
• Living Benefit: Thrivent Income Builder (GLWB) Rider
• Death Benefit: Standard Death Benefit
• Year Age Premium Payments Net Returns Scheduled Surrenders Accumulated Value Surrender Value Guar Annual Withdrawal Amount Guaranteed Withdrawal Percentage Benefit Base
• Death Proceeds
• 1 73
• 400,000 -3.94% 25,000 360,224 335,024 25,000 6.25% 400,000 375,000
• 2 74
• -4.91% 25,000 318,776 295,030 25,000 6.25% 400,000 350,000
• 3 75
• -5.32% 25,000 278,141 259,039 25,000 6.25% 400,000 325,000
• 4 76
• -5.86% 25,000 238,302 223,431 25,000 6.25% 400,000 300,000
• 5 77
• -6.50% 25,000 199,244 188,244 25,000 6.25% 400,000 275,000
• 6 78
• -7.63% 25,000 160,690 153,452 25,000 6.25% 400,000 250,000
• 7 79
• -9.23% 25,000 123,410 118,910 25,000 6.25% 400,000 225,000
• 8 80
• -12.00% 25,000 86,604 86,604 25,000 6.25% 400,000 200,000
• 9 81
• -17.99% 25,000 50,519 50,519 25,000 6.25% 400,000 175,000
• 10 82
• -40.86% 25,000 15,092 15,092 25,000 6.25% 400,000 150,000
• 11 # 83
• 0.00% 25,000 0 0 25,000 6.25% 400,000 0
• Guaranteed Annual Withdrawal Amount of $25,000 continues for life
• These values do not reflect the Required Minimum Distributions (RMDs) on a qualified account which must be taken annually starting the year required by IRS regulations. If RMDs are not illustrated for some or all years, the actual results you experience will be less if you subsequently take RMDs for any of those years.
• The amounts shown in bold are the years in which the Benefit Base is stepped up due to market performance. In these years, the Credit Base is increased to equal the Benefit Base. A new 10-year crediting period begins and future 6% credits are based on this amount, up to the maximum age of 80 or when withdrawals begin.
• In lieu of annuitization a Required Withdrawal Amount will be sent at the end of each contract year. If the Thrivent Income Builder is cancelled at age 95 or beyond, the entire annuity contract value must be paid out or annuitized.
• In this Year, the Accumulated Value is reduced to zero. Since the Benefit Base is not zero, a settlement option will be issued that pays the Guaranteed Annual Withdrawal Amount each Year while at least one Covered Person is living. Based on the hypothetical values in this illustration, the cumulative income at age 95 would be $550,000.
• # Contract will terminate due to partial surrender.
• Illustrated future changes do not occur automatically and must be requested by the owner at the time the change is desired. Due to contract requirements, certain future changes may not be illustrated as requested.
• The illustration is based on the historical performance of the hypothetical model selected. The performance data illustrated represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Refer to the Expenses and Charges section of this illustration or your prospectus for more detailed information.
• Hypothetical values are calculated using net returns, considering all applicable fees and expenses for this illustration.
• Premiums and any scheduled surrenders are assumed to be paid at the beginning of the period. Death proceeds, accumulated value, and surrender value are end of year.

• Tax Consideration
• This illustration does not reflect the effect of income taxes and penalty taxes. While withdrawals may or may not be depicted within this illustration, withdrawals of taxable amounts from the contract during the accumulation phase will be subject to ordinary income tax. If the taxpayer has not attained age 59 1/2 at the time of the distribution, the taxable portion of the withdrawal may also be subject to a 10% federal income tax penalty. This penalty along with other income taxes is not reflected in this illustration.
• IRA
• Most annuities have a tax-deferred feature. So do many retirement plans under the Internal Revenue Code. As a result, when you use an annuity to fund a retirement plan that is tax deferred, your annuity will not provide any necessary or additional tax deferral for that retirement plan. But annuities do have features other than tax deferral that may help you reach your retirement goals. You should consult your tax advisor prior to making a purchase for an explanation of the tax implications to you.
• Starting the year IRS regulations specify, you must take an annual RMD. With the Thrivent Income Builder on your contract, you will be able to take the RMD amount each year, even if it is greater than your Guaranteed Annual Withdrawal Amount, without a recalculation of the Benefit Base.
• This information is based on our understanding of Tax Law. It is general in nature and is not intended as tax or legal advice.
• Hypothetical Returns
• The gross hypothetical returns illustrated should be reasonable, based on your assessed risk tolerance, time horizon and proposed premium allocations at the time of this illustration.

• Fixed Account (if available)
• You may allocate transfers and premiums to the Fixed Account as long as they fall within the Thrivent Income Builder (GLWB) Rider allocation requirements.
• Premiums and transfers allocated to the Fixed Account are guaranteed a current credited interest rate for 12 months. After 12 months the credited interest rate may increase or decrease but will never be less than the Fixed Account guaranteed interest rate shown in your contract. Interest will be compounded daily.
• For purposes of this illustration, interest rates credited on any allocations to the Fixed Account are not directly reflected in the hypothetical non-guaranteed rates of return illustrated.
• Required Asset Rebalancing
• When Thrivent Income Builder (GLWB) Rider is on the contract, the subaccounts are automatically rebalanced quarterly according to the allocation percentages you have chosen. The Allocation percentages you choose must follow the requirements of the Thrivent Income Builder (GLWB) Rider.

• Current Expenses
• This illustration reflects the current charges of the optional features you have selected. It does not reflect costs associated with features you have not selected. If you choose to add optional features, it will increase your costs and reduce the return assumptions. Some of these optional features must be selected on the issue date and cannot be added once your contract is issued. All benefits and features may not be available in all states. Thrivent reserves the right to increase these charges up to the maximum charge stated in the contract at its discretion.
• Maximum Expenses
• This illustration reflects the maximum charges of the optional features you have selected. It does not reflect costs associated with features you have not selected. If you choose to add optional features, it will increase costs and reduce returns assumptions. Some optional features must be selected at the issue date and cannot be added once the contract is issued. All benefits and features may not be available in all states. Contract expenses are defined below.
• Contract Expenses Current Maximum
• Mortality & Expense Risk Charge 1.25% 1.25%
• Standard Death Benefit Expense 0.00% 0.00%
• Optional Living Benefits Income Builder (applied to Benefit Base) 1.45% 2.50%
• Portfolio Expenses
• The fund expenses are net of any Fund Advisor voluntary waivers and are as of the most recent fiscal year end. Any voluntary waivers or reimbursements by the Fund Advisor may be discontinued at any time.
• Subaccount Investment Expenses Current Net Annual Portfolio Operating Expense
• Thrivent Moderately Aggressive Allocation Portfolio 0.71%
• All Subaccounts Average
• (equally weighted) 0.82%
• Assumes the Accumulated Value is at all times invested equally across all available subaccounts, which is not actually possible and is used for illustrative purposes only.
• Other Charges
• There is an annual contract charge of $50 on each anniversary if the accumulated value is less than $50,000. You can refer to the prospectus for details.
• All net surrenders are processed at the beginning of the period. A full or partial surrender of the Accumulated Value may result in surrender charges. Each premium is assigned its own 7-year surrender charge schedule from the date it is received. Partial surrenders, for surrender charge purposes, will be determined on a first-in, first-out basis.
• Year Percent Applied Year Percent Applied
• 1 7% 5 4%
• 2 7% 6 3%
• 3 6% 7 2%
• 4 5% 8 or later 0%

• The value of a variable annuity will fluctuate up and down, based on the performance of the variable investment options, and you may experience a gain or loss. Actual investment results will be more or less than those shown and will depend on a number of factors, including the choice and investment experience of the eligible variable investment options and frequency of premiums. If the actual portfolio returns differ from those that have been assumed on an average or individual contract year basis, the values for your contract will be different than those shown. Partial surrenders will reduce the value of the contract and the contract benefits and may be subject to surrender charges.
• Variable annuities are insurance products that are complex long-term investment vehicles. Before you invest, be sure to ask your financial professional about the variable annuity's features, benefits, risks, and fees, and whether the variable annuity is appropriate for you, based upon your financial situation and objectives.
• This illustration must be preceded or accompanied by a current prospectus for the Thrivent Retirement Choice Variable Annuity. The prospectus contains more complete information on the investment objectives, risks, charges and expenses of the variable annuity and the underlying investment options, which investors should read and consider carefully before investing. Any guarantees provided under this contract are based on the claims-paying ability of the issuer. There is no guarantee of the investment performance or safety of the variable investment options in this variable annuity.

• Investing involves risk, including the possible loss of principal. The product prospectus, portfolios' prospectuses, and summary prospectuses contain more complete information on investment objectives, risks, charges and expenses along with other information, which investors should read carefully and consider before investing. Available at Thrivent.com.
• Thrivent is the marketing name for Thrivent Financial for Lutherans. Insurance products issued by Thrivent. Not available in all states. The principal underwriter and distributor of variable insurance products is Thrivent Investment Management Inc., member FINRA and SIPC and a subsidiary of Thrivent. Thrivent.com/disclosures.

• If you have any questions about this Thrivent Retirement Choice Variable Annuity illustration, please contact:
• Shannon Storch, FIC, BFA, CEPA
• 605 North Bentz Street
• Suite 202
• Frederick, MD 21701
• 920-242-1446
• This is for illustration purposes only. It is not a contract. Please see prospectus for more details.
• Applies to contract Thrivent Retirement Choice Variable Annuity, form(s) ICC20 W-BZ-FPVA, ICC20 WR-ZG-GLWB.
• Thrivent
• 600 Portland Ave. S.
• Minneapolis, MN 55415
• Client Services: 800-847-4836
• Thrivent and its financial advisors and professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
• Insurance products, securities and investment advisory services are provided by appropriately appointed and licensed financial advisors and professionals. Only individuals who are financial advisors are credentialed to provide investment advisory services. Visit Thrivent.com or FINRA’s BrokerCheck for more information about our financial advisors.