Thrivent offers a wide range of financial advisement services as well as consumer products like long-term care insurance. LTC insurance is one of Thrivent’s most popular offerings, thanks in part to the varied benefits and easy-to-use LTC cost calculator. If you are considering insurance to help pay for assisted living, in-home care, or another form of long-term care, Thrivent is a great option. In this guide, we’ll provide an in-depth review of Thrivent’s current long-term care insurance offerings and help you decide if Thrivent is the right LTC insurance carrier for you.
Thrivent offers a traditional LTC insurance plan that you can customize to meet your needs. You can expect the following standard coverage options from every Thrivent LTC plan:
Thrivent also offers the following perks and benefits, regardless of the customization options you choose:
There are also many ways to customize your plan so that it can meet your care-based requirements and budget. Once you begin the application process, you’ll have the option to choose the exact benefits and plan options you want. Some of the most important decisions you’ll need to make include:
You can apply and be accepted for a Thrivent long-term care insurance plan if you’re anywhere between 18 and 79 years of age. Since you can access a personal care manager and ample benefits for informal caregivers, a Thrivent LTC plan is often best for older adults who want assistance coordinating their care, but may also have friends or family members who can provide assistance with certain daily needs.
Did You Know? Once you turn 65, there’s a 70 percent chance that you will need long-term care at some point.1
In addition to the traditional LTC insurance plan, Thrivent offers CareForward, which is a hybrid plan combining long-term care and life insurance. With CareForward, you get all of the same benefits and options as the traditional plan, plus a death benefit that varies based on the amount of long-term care benefits you use during your lifetime. One of the biggest perks of choosing CareForward is that your premiums are guaranteed to stay the same for the duration of your plan.
Both of Thrivent’s plans also offer dividend plans to help increase the value of your benefits over time. This is a substantial bonus compared to other popular providers like Lincoln Financial or Nationwide, neither of which offer dividend payments.
Pro Tip: Looking for the right LTC plan to meet your needs? Read our guide on the best long-term care plans for older adults!
And though it will likely have no effect on your ability to acquire a Thrivent LTC plan and use the benefits, it’s also important to consider the company’s religious affiliation. Thrivent is a Christian business and previously only offered policies to Christians. Over the past few years, the company quietly removed these restrictions and made its products available to applicants of all faiths. Still, it’s important to consider that the company specifically designs its business and products around Christian values, which may or may not align with your personal beliefs or interests.
After you’ve decided on some of the most important elements of your plan, you’ll also have the option to add various riders and extra perks, such as:
You cannot get a quote for a Thrivent LTC plan online, and Thrivent offers very little pricing transparency. That said, the carrier has many customization options that are specifically designed to help reduce your out-of-pocket costs, like lower monthly benefits and longer elimination periods (twice as long as many competitors).
FYI: If you’re confused about the price of an LTC insurance plan, read our guide on the cost of long-term care insurance to learn more.
According to data from the American Association for Long-Term Care Insurance, the average annual cost of an LTC plan for a 65-year-old could range anywhere from $1,700 to $7,225.2 However, the lack of pricing transparency makes it difficult to know where Thrivent falls within this range. While Thrivent offers a very comprehensive cost calculator to estimate your lifetime LTC costs, it does not offer quotes or estimates for the cost of your insurance plan. Alternatively, providers like Mutual of Omaha make it easy to estimate the cost of long-term care and the cost of your plan in seconds.3
Thrivent implements different underwriting processes depending on specific age ranges.4 Here’s what you can expect based on your age:
If you do not have a physician’s statement from within the last two years, you may be required to meet additional requirements. It’s also important to note that Thrivent has various “preferred” criteria, such as a BMI between 18 and 30, and “uninsurable” conditions, such as Alzheimer's. Compared to providers like Brighthouse Financial, which has somewhat lax underwriting requirements, Thrivent is relatively strict. This can make it harder to qualify for a plan with an affordable premium.
Thrivent has relatively high ratings as a business, though its customer satisfaction varies based on reviews published online. Here are a few of the relevant ratings to consider:
Based on high ratings from A.M Best and Standard and Poor’s, Thrivent has strong credit and financial records. The ratings from NAIC and BBB indicate that Thrivent receives relatively few complaints compared to insurance carriers of comparable sizes. To put these scores in perspective, MassMutual received the same rating from both A.M Best and Standard and Poor’s, though slightly lower ratings of 0.03 from NAIC and “A” from BBB.
It’s important to note that Thrivent has a BBB customer rating of just 1.59 out of 5 stars based on 27 reviews. This indicates that, while the company receives relatively few official complaints, some customers have not had overly positive experiences. Nonetheless, Thrivent outperforms many of its competitors when it comes to both finances and overall customer satisfaction.
Thrivent offers enough LTC customization options to meet the needs of most older adults. Plus, with a great cost calculator to see how much you’ll likely spend on long-term care, Thrivent makes it easier to decide if LTC insurance is the right choice for you. However, it would be better for many applicants if Thrivent offered better pricing transparency and a more inclusive underwriting policy. Still, Thrivent has great credentials as an insurance carrier, making it one of the better long-term care insurance carriers on the market.
When evaluating the quality of long-term care offerings, we focus on the benefits that a carrier or plan can provide to older adults. We specifically look at pricing, coverage, optional offerings, and long-term value, particularly in comparison to plans from other carriers. Ultimately, an LTC insurance policy should help reduce financial stress if and when you require help with activities of daily living (ADLs). If a plan can offer ample coverage without breaking the bank, we believe it is a worthwhile option to consider.
Thrivent is a Christian company, specifically with roots in Lutheran teachings. In years past, the company only offered employment and even products and services to Christians. Today, Thrivent has loosened its faith-based restrictions to include more people.
Yes, long-term care through Thrivent can be a good option for couples, as it offers survivorship riders and hybrid plans with death benefits.
No, Thrivent LTC plans do not cover any kind of care for the treatment of alcohol or drug use.
Yes, Thrivent has a strong financial history, generally positive customer feedback, and high ratings from A.M Best and the Better Business Bureau.
Administration for Community Living. (2020, Feb 18). How Much Care Will You Need?
American Association for Long-Term Care Insurance. (2022). Long-Term Care Insurance Facts – Data – Statistics – 2022 Reports.
Mutual of Omaha. (2023). Determine Your Long-Term Care Insurance Need.
Thrivent. UNDERWRITING GUIDE.