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Thrivent Long Term Care Review


ConsumersAdvocate.org Rating: 4.2 / 5 (Excellent)
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With headquarters in Minneapolis and Appleton, Minnesota, Thrivent is a non-profit organization that provides long-term care and other types of insurance, as well as a full array of financial services to its members. The company is accredited by the Better Business Bureau. It has been in business since 1902 and operates as a fraternal benefits society.
 
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How is Thrivent rated?

Breakdown

4.5/5
Benefit Limits
4.0/5
Policies & Coverage
4.0/5
Customer Service

Overall Rating: 4.2 / 5 (Excellent)

Thrivent offers its members a standard long-term insurance policy, as well as a life and long-term care insurance bundle. Their financial strength ratings are high, and they have a long track record in the insurance industry. Their policies are easily customizable and they offer a broad range of riders that cater to each member's specific insurance needs.

Policies & Coverage

Policies & Coverage - 4 / 5

Thrivent offers two options for long-term care insurance. Their members can choose between their standard long-term care insurance and their CareForward insurance, which bundles life insurance and long-term care insurance. Coverage for both includes residential care facilities like nursing homes, assisted living facilities and hospices, adult day care and home care. Both can be customized to include additional benefits through Thrivent's many riders. Some of these riders include cash benefits, annual increase benefits, and inflation benefits.

The Thrivent Long-Term Care Insurance policy includes features like care coordination services, caregiver training, respite care, and more. Their care coordination services are a great feature that lets a health care coordinator take the reigns of the insured person's care plan, which allows the insured and their family members to rest easy knowing they will be cared for. Other benefits for both plans include alternate care, bed reservation, and international care.
Policy Types
Individual / Standard
Hybrid Life and Long Term Care
Types of Covered Care
In-Home Care
Assisted Living / Adult Day Care
Nursing Home
Hospice Care
Available Policy Riders
Inflation Protection
Shared Care
Return of Premium
Spouse Survivorship
Nonforfeiture
Available Discounts
Partner / Household
Preferred Health

Inflation Protection

Thrivent's inflation protection comes in the form of their LTC Inflation Benefit Rider. Members can choose from three available compound interests and durations: 5% interest for the life of the contract, 3% interest for the life of the contract, or 3% interest for 20 years from issue.

Claims & Benefits

Benefit Limits - 4.5 / 5

Like most long-term care insurances, Thrivent's eligibility requirements include the policy holder's physical or cognitive inability to perform two or more daily living activities. This has to be certified by a licensed health care practitioner.

Thrivent's maximum monthly benefit amounts start at $1,500 and can go up to $15,000 in $100 increments. The maximum amount of years of long-term care benefits provided by Thrivent is 8 years, or 96 months.
Lifetime Benefit Period
8 years
Unlimited Lifetime Benefit Period?
No
Elimination Period
30 days, 90 days, or 180 days
Eligibility Requirements
Activities of Daily Living Limitations
Physician Certification / Letter
Alzheimer's or Cognitive Impairment

Financial Strength & Ratings

Financial Strength - 4 / 5

The company is registered under the name Thrivent Financial for Lutherans, as Thrivent is their marketing name. It received a superior financial strength rating from AM Best on June 2022 and retained its rating AA+ from S & P Global. Moody's awarded it an insurance financial strength rating of Aa2. All of these high ratings indicate that Thrivent is capable of paying their policyholders' claims and poses a very low credit risk.
Underwriter
Thrivent Financial for Lutherans
Moody's Financial Rating
Aa2
AM Best Financial Rating
A++
Standard & Poor's Financial Rating
AA+
*The above information reflects the financial strength of the underwriter of the Thrivent long term care insurance policies: Thrivent Financial for Lutherans.

Thrivent Reputation

Customer Service - 4 / 5

Thrivent has two registered profiles on the BBB website, one for each headquarters. Its oldest profile, registered under Thrivent Financial, claims the company has been accredited by the Better Business Bureau since 1999 and holds a rating of A+. The customer review rating is 1.52/5 and the company has closed a total of 11 complaints in the last three years.
BBB Rating
A+
Number of BBB Positive Reviews
3
Number of BBB Negative Reviews
20

Contact & Additional Information

Company Type
Underwriter
Year Founded
1902
Homepage URL
https://www.thrivent.com
Company Phone
(800) 847-4836
Headquarters Address
600 Portland Avenue S., Suite 100, Minneapolis, MN, 55415

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Customer Comments & Reviews

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W
woke
3/1/2024
Thrivent is having criminal charges brought upon them and being sued for bank fraud on clients personal checking account with their employee(s) personally doing withdrawals out of checking acct with Capitol One and the normal premium pyt comes out as an ACH as it does once a month for 2 policies but when a PERSON does it will show as a WITHDRAWAL . Capitol One FRAUD DEPT confirmed it was fraud and it was very strange how they would wait hours and then do a withdrawal again and it was very strange they would take a chance doing this when the bank can see it is fraud being committed which is a crime a FELONY because it was over 128.00 dollars each time and they. We have contacted the Ins... Read More

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