Thrivent Financial for Lutherans - Planning: Tools and Services

Planning Tools & Services > Life Events > Having a Baby

Having a Baby

Congratulations on the new addition to your family!

A baby is a precious gift that can bring more joy to your life than you ever thought possible. One look from that tiny face, and you know you'll do everything you can to provide for your baby's every need-now and for years to come.

With the rising costs of education, it's important to think about your child's future now. Thrivent Financial for Lutherans can provide products, services and benefits both for your child's present and future.

Insurance

___	Life insurance is becoming even more important. With the addition of a child to your family, you may now be thinking about your desire to provide college funding for the future. Life insurance can help to provide for educational expenses if you die prematurely.
		Term life insurance may be appropriate, providing coverage for your immediate needs at a low cost.
		Permanent life insurance should be a consideration now. It provides lifetime coverage plus cash value accumulation, which you can access in the future to help offset college costs.
		If you already own life insurance, you should review your coverage - having a baby may mean that you'll want to increase the amount of coverage you have.
		If your current life insurance contract includes a Guaranteed Purchase Option (or Guaranteed Insurability Option), having a baby allows you to increase the amount of your protection, regardless of your health.
		The life insurance calculator can help you estimate how much coverage you'll want to have.
___	Permanent life insurance should be considered to insure your baby's life. These types of insurance can help to protect your child's financial future by ensuring that your child has coverage as an adult, even if there is an unfortunate change in health.
		Including a Guaranteed Purchase Option will allow your child to purchase additional coverage as an adult, regardless of health.
___	Disability income insurance can help reduce the financial impact if a disability prevents you from earning an income - which is increasingly important as your family grows.

Investments

___	Education funding options from Thrivent Investment Management Inc. help you prepare for the expense of higher education. Options include:
		UGMA/UTMA Custodial Accounts
		Coverdell Education Savings Accounts.
		529-College Savings Plans.

Banking

___	Goal Savings Accounts with Thrivent Financial Bank, opened with just $25, are a great use for baby gifts of money your child receives. As your child grows, you can help him or her learn about the importance of saving and watch the savings account grow, too.
___	Online banking with bill pay makes banking from home easy.

Planning Tools & Services

___	A LifeMap® financial plan will help you set a course for your financial journey with the development of an objective, in-depth financial plan.
___	Education Planning Calculator: Estimate how much it will take to put your child through college.
___	Education Center: Read informative articles about education planning.
___	Seminars: Learn education planning strategies.

Fraternal

___	A baptismal medallion is a beautiful way to commemorate your child's special day.
___	Simply Giving^® makes your church contributions or Lutheran school tuition payments easy through electronic funds transfer—right from your checking or savings account.
___	Your Will Planning Guide, available online in Members/Chapters, can help you begin the process of creating a will. (First-time users will need to register.)
___	Educational and informational benefits are available to members at no cost.
___	Order benefits online in Members/Chapters. (First-time users will need to register.)
___	The Child Insurability Benefit provides $5,000 of Life Paid-up at 65 to children age 0 through 15 who have medical conditions that make them uninsurable.

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Locate Your Financial Representative

Your Thrivent Financial representative is there to answer your questions about life insurance or investments as you plan for one of the biggest purchases you'll ever make—your home. Call or e-mail your financial representative today!