What is “cash value” and/or “surrender value” in terms of my life or annuity contract?
Cash value represents the gross value of your contract. This amount is determined in accordance with the contract. The surrender value is the net value that will be paid in the event you request your contract be surrendered. For example, surrender values for life insurance equals the basic cash value, surplus refunds if applicable, premium refunds less any premiums due and loan indebtedness. For some products, such as the fixed annuity, any applicable surrender charges would be deducted from the cash value. You may wish to review your life or annuity contract for more detailed information. You may also contact a Thrivent Financial representative, call Customer Service or complete an online customer service request form.
