THE POLICY IS RIGHT
What are the durations available for Thrivent Term policies?
10-year, 15-year, 20-year, and 30-year
3 primary approaches to funding an extended care need are...
Self Funding
Transferring risk to an insurance policy
Spend down to qualify for medicaid.
A common distribution strategy among advisors is the 4% rule. Explain why this is good/bad. Group consensus on correct answer
The 4% rule is antiquated and assumes low performance and low yields. Currently we have MYGA's with 5% rates, GLWB products with as high as 6.5% distribution. DIA's that can pay out upwards of 9% or more. Opinion based answer, but 4% is antiquated and anyone using that as a metric deserves a more modern plan.
The fund with Thrivent Charitable that allows single or multiple gifts of cash, stock, or other appreciated asset to be invested and then later be distributed to any eligible 501(c)3 not-for-profit is called a?
Donor Advised Fund
Thrivent operates under this unique, tax-exempt corporate structure, meaning it is owned by and operated for its members rather than Wall Street stockholders.
What is a Fraternal Benefit Society?
The investment approach that involves investing a fixed amount at regular intervals regardless of whether the market is up or down is called?
Dollar cost averaging
The primary purpose of estate planning is what?
To determine who will receive assets upon death and ensure end-of-life wishes are carried out.
What is "Dedicated Planning" in its most simple term.
(As defined by Thrivent)
Investment service that provides written recommendations for a fee and ongoing advice and support.
(As defined by Thrivent)
Which rider is automatically included on all Thrivent Life insurance contracts?
Accelerated Death benefit for Terminal Illness Rider
Where can Long term care be provided for a client with a Thrivent LTC policy?
In their home.
Assisted living facility
Nursing home
Adult Daycare.
What are the penalties associated with taking money out of a MYGA prior to age 59 1/2 even if its non-qualified?
10% on top of any surrender charges
What major tax advantage is achieved by using a donor advised fund for a gift?
Avoiding Capital Gains Taxes
What is the maximum amount than can be applied for in a Thrivent Action Team?
$250
In a Thrivent Select, Shepherd, or Genesis investment, what are the primary differences?
Select is managed accounts with Thrivent funds and has the option of tax sensitivity
Shepherd is Vanguard funds with low fee and high diversification
Genesis is Blackrock holdings moderate fee and high diversification
The legal process that validates a will, settles debts, and distributes assets titled solely in a deceased person's name.
What is probate
What are 2 strategy areas commonly included in a dedicated plan. 7+ available answers
Retirement Income
College Planning
Income Distribution
Charitable giving
Tax efficiency planning
Estate Planning
Business Planning
What is the Issue age range for Accumulation VUL
Ages 0-80
Who is considered a caregiver according to Thrivent's LTC policies?
Spouse, Children, Professional Caregivers.
What is the 2026 elective deferral limit for 403b and 401k plans? not including catch up.
$24,500
In order to qualify for a federal deduction for a charitable gift, what type of deduction must you exceed to get a benefit?
Standard Deduction.
Bonus fact, 2026 Standard Deduction is $16,100 for single filers and $32,200 for married filing jointly under the age of 65. Additional standard deduction available for over 65
What are the 3 primary project types when applying for a Thrivent ACTION team?
Fundraiser, Service project, Education
For Coastal Financial Consultants, what are our breakpoints for investing, and what investments qualify?
1.25% up to 1 million
1% from 1 million to 3 million
0.8% from 3 million to 5 million
0.7% from 5 million +
ONLY investments in managed accounts qualify for breakpoints. Annuities, retail brokerage, and mutual funds have their own breakpoints
This is the legal term used when someone dies without a valid will?
Intestate
Which planning tier is generally designed for "Young professionals and New Families?"
Foundational
When writing a new whole life insurance policy, an advisor cannot go below this specific, five-figure minimum face amount.
What is $10,000
In a Thrivent LTC policy, what benefit multipliers are available? (How long can care coverage last?)
24, 36, 48, 60, and 96 months.
Under the Secure act 2.0 at what age does an RMD typically begin if reaching the RMD age prior to the year 2033?
Age 73 if after 2033 then its 75
At What age does an individual become eligible to make Qualified Charitable Deductions? QCD.
70 1/2 or older
Action team projects can be submitted any time during the year, provided they are submitted at least 14 days before the start date.
Incorrect statement. Projects must be applied at least 14 days out but no more than 120 days out.
Thrivent was officially formed on January 1 2002 following the merger of Lutheran Brotherhood and this organization
What is Aid association for Lutherans AAL.
Power of attorney is considered "Durable" if it has what feature?
Remains effective if the individual is disabled or incompetent.
When engaged in planning, we are ideally providing recommendations within 90 days. We MUST provide recommendations within what timeframe?
One year from the date of engagement of the plan.
What types of policies can you convert an eligible term policy into? Must name all. Hint there are 6
-Accumulation UL
-Accumulation VUL
-Single Premium Whole Life
-Survivor Whole Life
-Whole Life Plus Term
How many times does the elimination period have to be satisfied?
only once
What is the maximum 2026 SEP IRA contribution limit?
the lesser of 25% of compensation or $72,000
To qualify as a QCD, how must the distribution be made?
A direct transfer from the tax deferred account to the charity. Assets cannot pass to the individual or clients accounts first.
When searching the "Find my church" or "Find an organization" for Action teams, what database is being searched?
For non-retirement mutual fund accounts, clients can bypass the minimum $2000 initial minimum by setting up this minimum automatic investment plan.
What is $50/month
These assets experience a step-up in cost basis upon death
non-qualified stocks, bonds, mutual funds
property
gold, stamp collection, any form of security.
A client wants to stay "On Retainer" for financial planning and pay monthly recurring "subscription style" fee rather than engaging for specific services. This fee structure would satisfy that request.
What is an arrangement we are not allowed to implement and is not allowed at Thrivent.
What can life insurance policy dividend's be used for?
Purchasing additional insurance
Paying premiums
Paying out to the client.
Paying loans
What benefit does the return of premium rider provide?
A lump-sum payment to the estate equal to premiums paid minus benefits paid and accumulated dividends paid upon death.
A divorced spouse may claim Social Security benefits on an ex spouse's record even if the ex spouse hasn't filed for benefits yet provided the marriage lasted at least 10 years and assuming what other unique requirement?
They have been divorced for at least 2 years.
How would a QCD help reduce Medicare premiums?
QCD's are considered excluded from adjusted gross income AGI and would effectively lower the taxable income of the individual thereby not impacting IIRMA because of an RMD and keeping medicare premiums low.
In a Thrivent Action team virtual community impact card (Available immediately upon approval of an action team instead of waiting 2-3 weeks for the kit) what mobile wallet platforms can be used?
Apple Pay
Google Pay
Shown in both Gross and Net figures on the performance sheets, this metric represents the percentage of a mutual funds assets used to maintain and operate the fund.
What is the expense ratio
Trusts can own many types of assets. Can you give a specific example of a holding they cannot own and if they are the beneficiary of results in the highest tax in the tax code?
unfortunately, trusts can't hold tax deferred assets and income paid to the trust is taxed at the highest of all tax rates and pay at 40% (not even 37% income tax currently highest individual tax in 2026)
What is the maximum planning fee we can charge?
Trick question, technically there is no maximum but anything over $10,000 has to be approved by home office.
Fun fact, we are currently working on an $18,000/year plan.