# EDGAR Filing Document

**Accession Number:** 0001039305
**File Stem:** 0001193125-26-190601
**Filing Date:** 2026-4
**Character Count:** 1306400
**Document Hash:** 6849ef79e0c7e2f024fa1fd18ebae490
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-190601.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-190601

**CONFORMED SUBMISSION TYPE**: 485BPOS

**PUBLIC DOCUMENT COUNT**: 62

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**EFFECTIVENESS DATE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THRIVENT VARIABLE LIFE ACCOUNT I
- **CENTRAL INDEX KEY:** 0001039305

**ORGANIZATION NAME:**
- **EIN:** 396666871
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08289
- **FILM NUMBER:** 26913443

**BUSINESS ADDRESS:**
- **STREET 1:** 600 PORTLAND AVENUE SOUTH
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55415-4402
- **BUSINESS PHONE:** 6123407215

**MAIL ADDRESS:**
- **STREET 1:** 600 PORTLAND AVENUE SOUTH
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55415-4402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THRIVENT VARIABLE LIFE ACCOUNT 1
- **DATE OF NAME CHANGE:** 20020823

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AAL VARIABLE LIFE ACCOUNT I
- **DATE OF NAME CHANGE:** 19970710

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AAL VARIABLE LIFE ACCOUNT 1
- **DATE OF NAME CHANGE:** 19970514
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THRIVENT VARIABLE LIFE ACCOUNT I
- **CENTRAL INDEX KEY:** 0001039305

**ORGANIZATION NAME:**
- **EIN:** 396666871
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-103454
- **FILM NUMBER:** 26913442

**BUSINESS ADDRESS:**
- **STREET 1:** 600 PORTLAND AVENUE SOUTH
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55415-4402
- **BUSINESS PHONE:** 6123407215

**MAIL ADDRESS:**
- **STREET 1:** 600 PORTLAND AVENUE SOUTH
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55415-4402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THRIVENT VARIABLE LIFE ACCOUNT 1
- **DATE OF NAME CHANGE:** 20020823

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AAL VARIABLE LIFE ACCOUNT I
- **DATE OF NAME CHANGE:** 19970710

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AAL VARIABLE LIFE ACCOUNT 1
- **DATE OF NAME CHANGE:** 19970514

## Series and Classes Contracts Data

### THRIVENT VARIABLE LIFE ACCOUNT I (Series ID: S000002690)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000007342 | Series 2003  |  |

As filed with the U.S. Securities and Exchange Commission on April 29, 2026

**1933 Act Registration No. 333-103454** <br>**1940 Act Registration No. 811-08289**

------

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-6** 

---

| | |
|:---|:---|
| **REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933** | **☒** |
| **Pre-Effective Amendment No.**  | **☐** |
| **Post-Effective Amendment No. 23** | **☒** |
| **and/or** |  |
| **REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940** | **☒** |
| **Amendment No. 70** | **☒** |

---

**THRIVENT VARIABLE LIFE ACCOUNT I**

**(Exact Name of Registrant)**

**Thrivent Financial for Lutherans**

**(Name of Depositor)**

**600 Portland Avenue South, Suite 100** <br>**Minneapolis, Minnesota 55415**

**(Address of Principal Executive Offices)**

**Depositor's Telephone Number, including Area Code: 612-844-5499**

**Thomas P. Trier, JD** <br>**Director, Senior Counsel** <br>**Thrivent Financial for Lutherans** <br>**600 Portland Avenue South, Suite 100** <br>**Minneapolis, Minnesota 55415** <br>**(Name and Address of Agent for Service)**

It is proposed that this filing will become effective (check appropriate box):

☐ immediately upon filing pursuant to paragraph (b) of Rule 485

☒ on April 30, 2026, pursuant to paragraph (b) (1) of Rule 485

☐ 60 days after filing pursuant to paragraph (a)(1) of Rule 485

☐ on (date) pursuant to paragraph (a)(1) of Rule 485

If appropriate, check the following box:

☐ this post-effective amendment designates a new effective date for a previously filed post-effective amendment

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ![](g106025imgfb0d06af1.jpg) | Thrivent Variable Universal Life Insurance |
| ![](g106025imgfb0d06af1.jpg) |  |
| ![](g106025imgfb0d06af1.jpg) |  |
| ![](g106025imgfb0d06af1.jpg) | Thrivent Variable Life Account I |
| ![](g106025imgfb0d06af1.jpg) | Statutory Prospectus<br> **April 30, 2026** |

---

This prospectus describes key features of a flexible premium individual variable adjustable life insurance contract (the "Contract") previously offered by Thrivent Financial for Lutherans ("Thrivent") between 2004 and 2008. The Contract is a long-term investment designed to provide significant life insurance benefits. Even though we no longer issue new Contracts on this form as described in this prospectus, the Contract Owner ("you") may continue to allocate Net Premiums among investment alternatives with different investment objectives and make changes including increases in coverage pursuant to the terms of the Contract.

Additional general information about certain investment products, including variable life insurance contracts, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

**The Securities and Exchange Commission has not approved or disapproved this Contract or passed upon the adequacy of this statutory prospectus. Any representation to the contrary is a criminal offense.**

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Key Information](#xx_7bcef6dd-be9d-43d8-ad23-b5a81aaf2028_1) | 1 |
| [Overview of the Contract](#xx_008c028f-d213-4d02-946e-99640f624dd9_1) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Purpose](#xx_008c028f-d213-4d02-946e-99640f624dd9_1) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Premiums](#xx_008c028f-d213-4d02-946e-99640f624dd9_1) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Death Benefit](#xx_008c028f-d213-4d02-946e-99640f624dd9_1) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Death Proceeds](#xx_008c028f-d213-4d02-946e-99640f624dd9_1) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Death Benefit Guarantee](#xx_008c028f-d213-4d02-946e-99640f624dd9_1) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Access to Accumulated Value](#xx_008c028f-d213-4d02-946e-99640f624dd9_2) | 5 |
| [Fee Table](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_1) | 8 |
| [Principal Risks of Investing in the Contract](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_5) | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Investment Risk](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_5) | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risk of Lapse](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_5) | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Tax Risks](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_5) | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Surrender and Partial Surrender Risks](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_6) | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Loan Risks](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_6) | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Risks](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Short-Term Investment Risk](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Insurance Company Risk](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Risk](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Premium Payment Risk](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Fees and Charges](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risks Affecting our Administration of Your Contract](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Alternatives to the Contract](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Potentially Harmful Transfer Activity](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_7) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risk of Increase in Current Fees and Expenses](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_8) | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Cybersecurity Risk](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_8) | 15 |
| [Description of the Insurance Company, Registered Separate Account, and Portfolios](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_8) | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Insurance Company](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_8) | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Registered Separate Account](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_8) | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Portfolios](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_9) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Voting](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_9) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Important Notice Regarding Delivery of Documents](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_9) | 16 |
| [Charges](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_9) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Percent of Premium Charge](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_9) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Decrease Charge](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_9) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Transfer Charge](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_10) | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Monthly Deductions from Accumulated Value](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_10) | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Cost of Insurance Charge](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_11) | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Cost of Insurance Rates](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_11) | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Mortality and Expense Risk Charges](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_12) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Administrative Charge (Basic Monthly Charge)](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_12) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Rider or Additional Benefit Charge](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_13) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Fund Charges](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_13) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Variation or Reduction of Charges](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_13) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Compensation Paid to Financial Advisors and Professionals](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_13) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Maintenance of Solvency](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_13) | 20 |
| [General Description of the Contract](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_13) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Illustrations](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_14) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Replacement of Existing Insurance](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_14) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Term Conversion](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_14) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Misstatement of Age or Sex Provision](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_14) | 21 |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; [Suicide Exclusion Provision](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_15) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Ownership Rights](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_15) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Transfers](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_16) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Frequent Transfers among Variable Options](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_16) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Addition, Deletion, Combination, or Substitution of Investments](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_17) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_18) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Money Market Dollar Cost Averaging](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_18) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Automatic Asset Rebalancing Program](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_18) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; [General Account](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_18) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Termination](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_19) | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; [State Variations](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_19) | 26 |
| [Premiums](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_19) | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Flexible Premiums](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_19) | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Premium in Default and Grace Period](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_19) | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Net Premiums & Premium Allocation](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_20) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Electronic Payment Program](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_20) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Premium Limits](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_20) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Death Benefit Guarantee](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_21) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Accumulated Value](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_22) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_23) | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Loan Account](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_23) | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Variable Account](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_23) | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Cash Surrender Value](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_24) | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Timely Processing](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_24) | 31 |
| [Standard Death Benefits](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_24) | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Option 1 (Level Death Benefit Option)](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_25) | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Option 2 (Variable Death Benefit Option)](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_25) | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Changing Your Death Benefit Option](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_25) | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Changing Your Face Amount](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_25) | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Increasing Your Face Amount](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_26) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Decreasing Your Face Amount](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_26) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Death Claims](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_26) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Payment of Benefits](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_26) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Settlement Options](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_27) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Option 1: Interest](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_27) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Option 2: A Selected Amount of Income](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_27) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Option 3: A Specified Period](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_27) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Option 4: Life Payment](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_27) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Option 5: Joint & Survivor](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_28) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Abandoned Property Requirements](#xx_5d554c69-93e1-411a-8c7e-c349c5aaf3d0_28) | 35 |
| [Other Benefits Available Under the Contract](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_1) | 36 |
| [Surrenders and Withdrawals](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_4) | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Partial Surrenders](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_4) | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Surrender](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_4) | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Postponement of Payments](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_5) | 40 |
| [Loans](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_5) | 40 |
| [Lapse and Reinstatement](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_6) | 41 |
| [Taxes](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_7) | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp; [General](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_7) | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Estate, Gift and Generation-Skipping Transfer Tax Considerations](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_7) | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Tax Status of the Variable Account](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_7) | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Taxation of the Contract—In General](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_7) | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Tax Treatment of Death Proceeds](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_8) | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Tax Deferral During Accumulation Period](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_8) | 43 |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; [Taxation of Contracts that Are Not MECs](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_9) | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Taxation of Contracts that Are MECs](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_9) | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Aggregation of Contracts that Are MECs](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_10) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Contracts Not Owned by Individuals](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_10) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Section 1035 Exchanges](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_10) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Accelerated Death Benefits](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_11) | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Actions to Ensure Compliance with the Tax Law](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_11) | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Other Considerations](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_11) | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Medicare Hospital Insurance Tax](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Federal Income Tax Withholding](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Nonresident Aliens and Other Foreign Persons](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp; [FATCA Withholding](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_12) | 47 |
| [Distribution of the Contracts](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_12) | 47 |
| [Legal Proceedings](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_13) | 48 |
| [Financial Statements](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_13) | 48 |
| [Special Terms](#xx_b450b0e9-8047-4be1-9890-ea3fe19d0afa_14) | 49 |
| [Appendix: Portfolios Available Under the Contract](#xx_3ca05b7b-d162-41ae-b82a-d163717569fc_1) | 52 |

---

------

Key Information

Important Information You Should Consider About the [Contract.](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FEES AND EXPENSES** | **FEES AND EXPENSES** | **FEES AND EXPENSES** | **FEES AND EXPENSES** | **Location in**<br> **Statutory**<br> **Prospectus**<br>|
| &nbsp;&nbsp; Charges for Early <br> Withdrawals<br>| A [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) (early withdrawal charge) may be assessed upon <br> surrender, lapse or any decrease in the [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). A [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) will <br> be assessed for 10 years after each increase in [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). The [Decrease](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)<br> Charge will vary depending on the number of years since the last increase in <br> [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). The maximum amount that may be charged is $49.25 per <br> $1,000 of decrease in [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). For example, if you make an early <br> withdrawal, you could pay a [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) of up to $4,925 on a $100,000 <br> decrease. | A [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) (early withdrawal charge) may be assessed upon <br> surrender, lapse or any decrease in the [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). A [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) will <br> be assessed for 10 years after each increase in [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). The [Decrease](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)<br> Charge will vary depending on the number of years since the last increase in <br> [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). The maximum amount that may be charged is $49.25 per <br> $1,000 of decrease in [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). For example, if you make an early <br> withdrawal, you could pay a [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) of up to $4,925 on a $100,000 <br> decrease. | A [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) (early withdrawal charge) may be assessed upon <br> surrender, lapse or any decrease in the [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). A [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) will <br> be assessed for 10 years after each increase in [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). The [Decrease](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)<br> Charge will vary depending on the number of years since the last increase in <br> [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). The maximum amount that may be charged is $49.25 per <br> $1,000 of decrease in [Face Amount](#faceamount_f423613c-72bc-46cc-b97b-8c0bc83eae6b). For example, if you make an early <br> withdrawal, you could pay a [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96) of up to $4,925 on a $100,000 <br> decrease. | Charges<br> Fee Table<br>|
| &nbsp;&nbsp; Transaction <br> Charges<br>| In addition to [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)s (early withdrawal charges), you also may be <br> charged for other transactions such as when you pay a premium, transfer <br> accumulated value between investment options, make more than one partial <br> surrender in a [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4) or exercise your Accelerated Death Benefit Rider.<br> A premium charge of 5% is deducted upon receipt of most premiums.<br> A transfer charge applies to each transfer in excess of the first twelve transfers <br> made in a [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4). The maximum amount deducted is $25 per transfer.<br> You may add an Accelerated Death Benefit Rider to your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) at any time <br> without cost. The rider allows you to receive the present value of the death <br> benefit tax free if eligibility requirements are met, including doctor certification <br> that the [Insured](#insured_ace30c7c-907f-4fe7-a633-5145ae358d57) is terminally ill. A one-time charge of up to $150 will apply if <br> you exercise the benefit. The charge may be lower in some states. State <br> variations may apply.<br> An illustration charge of $25 applies upon each request in excess of one per <br> [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4). | In addition to [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)s (early withdrawal charges), you also may be <br> charged for other transactions such as when you pay a premium, transfer <br> accumulated value between investment options, make more than one partial <br> surrender in a [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4) or exercise your Accelerated Death Benefit Rider.<br> A premium charge of 5% is deducted upon receipt of most premiums.<br> A transfer charge applies to each transfer in excess of the first twelve transfers <br> made in a [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4). The maximum amount deducted is $25 per transfer.<br> You may add an Accelerated Death Benefit Rider to your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) at any time <br> without cost. The rider allows you to receive the present value of the death <br> benefit tax free if eligibility requirements are met, including doctor certification <br> that the [Insured](#insured_ace30c7c-907f-4fe7-a633-5145ae358d57) is terminally ill. A one-time charge of up to $150 will apply if <br> you exercise the benefit. The charge may be lower in some states. State <br> variations may apply.<br> An illustration charge of $25 applies upon each request in excess of one per <br> [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4). | In addition to [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)s (early withdrawal charges), you also may be <br> charged for other transactions such as when you pay a premium, transfer <br> accumulated value between investment options, make more than one partial <br> surrender in a [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4) or exercise your Accelerated Death Benefit Rider.<br> A premium charge of 5% is deducted upon receipt of most premiums.<br> A transfer charge applies to each transfer in excess of the first twelve transfers <br> made in a [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4). The maximum amount deducted is $25 per transfer.<br> You may add an Accelerated Death Benefit Rider to your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) at any time <br> without cost. The rider allows you to receive the present value of the death <br> benefit tax free if eligibility requirements are met, including doctor certification <br> that the [Insured](#insured_ace30c7c-907f-4fe7-a633-5145ae358d57) is terminally ill. A one-time charge of up to $150 will apply if <br> you exercise the benefit. The charge may be lower in some states. State <br> variations may apply.<br> An illustration charge of $25 applies upon each request in excess of one per <br> [Contract Year](#contractyear_13a66a54-15f8-4660-9c71-a9b0b04af0f4). | Charges<br> Fee Table<br>|
| &nbsp;&nbsp; Ongoing Fees and <br> Expenses (annual <br> charges) | In addition to [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)s (early withdrawal charges) and transaction <br> charges, investment in the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is subject to certain ongoing fees and <br> expenses (typically assessed monthly), including fees and expenses covering <br> the cost of insurance under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), mortality and expense risk charges, <br> basic monthly charges, interest on any [Debt](#debt_4ec67284-6e20-49eb-9331-1cd2bdd2e8e2), and the cost of optional benefits <br> available under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e). Some of these fees and expenses are set based <br> on characteristics of the [Insured](#insured_ace30c7c-907f-4fe7-a633-5145ae358d57) (e.g. age, sex (in most states), and rating <br> classification). See the specifications page of your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) for rates <br> applicable to your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e).<br> Investors will also bear expenses associated with [Portfolios](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) that correspond to <br> [Subaccount](#subaccount_65960ee4-d846-4589-a1e8-2bcca3f798b3)s available under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), as shown in the following table: | In addition to [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)s (early withdrawal charges) and transaction <br> charges, investment in the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is subject to certain ongoing fees and <br> expenses (typically assessed monthly), including fees and expenses covering <br> the cost of insurance under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), mortality and expense risk charges, <br> basic monthly charges, interest on any [Debt](#debt_4ec67284-6e20-49eb-9331-1cd2bdd2e8e2), and the cost of optional benefits <br> available under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e). Some of these fees and expenses are set based <br> on characteristics of the [Insured](#insured_ace30c7c-907f-4fe7-a633-5145ae358d57) (e.g. age, sex (in most states), and rating <br> classification). See the specifications page of your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) for rates <br> applicable to your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e).<br> Investors will also bear expenses associated with [Portfolios](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) that correspond to <br> [Subaccount](#subaccount_65960ee4-d846-4589-a1e8-2bcca3f798b3)s available under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), as shown in the following table: | In addition to [Decrease Charge](#decreasecharge_6dc85d71-afaa-4d46-9517-babc57ad5d96)s (early withdrawal charges) and transaction <br> charges, investment in the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is subject to certain ongoing fees and <br> expenses (typically assessed monthly), including fees and expenses covering <br> the cost of insurance under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), mortality and expense risk charges, <br> basic monthly charges, interest on any [Debt](#debt_4ec67284-6e20-49eb-9331-1cd2bdd2e8e2), and the cost of optional benefits <br> available under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e). Some of these fees and expenses are set based <br> on characteristics of the [Insured](#insured_ace30c7c-907f-4fe7-a633-5145ae358d57) (e.g. age, sex (in most states), and rating <br> classification). See the specifications page of your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) for rates <br> applicable to your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e).<br> Investors will also bear expenses associated with [Portfolios](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) that correspond to <br> [Subaccount](#subaccount_65960ee4-d846-4589-a1e8-2bcca3f798b3)s available under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), as shown in the following table: | Charges<br> Fee Table<br> [Appendix](#appendix_525b1b51-c22f-465a-89aa-bacb61ffd961) |
| &nbsp;&nbsp; Ongoing Fees and <br> Expenses (annual <br> charges) | **Annual Fee** | **Minimum** | **Maximum** | Charges<br> Fee Table<br> [Appendix](#appendix_525b1b51-c22f-465a-89aa-bacb61ffd961) |
| &nbsp;&nbsp; Ongoing Fees and <br> Expenses (annual <br> charges) | Annual Portfolio Expenses (deducted <br> from Portfolio assets)<br>| 0.22%<br>| 1.52%<br>| Charges<br> Fee Table<br> [Appendix](#appendix_525b1b51-c22f-465a-89aa-bacb61ffd961) |

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**1**

------

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| | | |
|:---|:---|:---|
| **RISKS** | **RISKS** | **Location in**<br> **Statutory**<br> **Prospectus**<br>|
| Risk of Loss | You can lose money by investing in this [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), including loss of your <br> premiums (principal), and your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) can lapse without value.<br> Additionally, [Debt](#debt_4ec67284-6e20-49eb-9331-1cd2bdd2e8e2) will reduce your [Cash Surrender Value](#cashsurrendervalue_fcfcaf72-3d10-4028-ac4f-c59a9640d90f), [Death Proceeds](#deathproceeds_6e33dc6a-4b1d-4361-bf4b-bffac7e3f524) and <br> the amount of premiums considered to meet the [Death Benefit Guarantee](#deathbenefitguaranteepremium_8447159a-aca0-4b41-8be2-122453d06a3f)<br> Premium requirement. If you surrender the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) or allow it to lapse while a <br> contract loan is outstanding, the amount of [Debt](#debt_4ec67284-6e20-49eb-9331-1cd2bdd2e8e2), to the extent it has not <br> previously been taxed, will be considered part of the amount you receive and <br> taxed accordingly. Loans may have tax consequences. | Principal Risks of <br> Investing in the <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br>|
| &nbsp;&nbsp; Not a Short-Term <br> Investment<br>| This [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is not designed for short-term investing and is not appropriate <br> for an investor who needs ready access to cash. The primary purpose of this <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is to provide [Death Proceeds](#deathproceeds_6e33dc6a-4b1d-4361-bf4b-bffac7e3f524) in the event of the [Insured's](#insured_ace30c7c-907f-4fe7-a633-5145ae358d57) death. <br> Surrender charges, expenses, and tax consequences generally make the <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) unsuitable as a short-term investment. | Principal Risks of <br> Investing in the <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br>|
| &nbsp;&nbsp; Risk Associated <br> with Investment <br> Options<br>| An investment in this [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is subject to the risk of poor investment <br> performance of the investment options you choose.<br> Each investment option has its own unique risks.<br> We do not guarantee any money you place in the [Subaccount](#subaccount_65960ee4-d846-4589-a1e8-2bcca3f798b3)s. The value of <br> each [Subaccount](#subaccount_65960ee4-d846-4589-a1e8-2bcca3f798b3) will increase or decrease, depending on the investment <br> performance of the corresponding [Portfolio](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) and fees and charges under the <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e). You could lose some or all of your money.<br> You should review the available [Portfolio](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d)s' prospectuses before making an <br> investment decision. | Principal Risks of <br> Investing in the <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br>|
| &nbsp;&nbsp; Insurance <br> Company Risks<br>| An investment in the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is subject to risks related to [Thrivent](#thrivent_262dbc2a-3fd3-400e-966b-3128e062a2f5), including <br> that any obligations, guarantees, and benefits of the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) are subject to <br> the claims-paying ability and financial strength of [Thrivent](#thrivent_262dbc2a-3fd3-400e-966b-3128e062a2f5). More information <br> about [Thrivent](#thrivent_262dbc2a-3fd3-400e-966b-3128e062a2f5), including its financial strength ratings, is available upon <br> request by calling 1-800-847-4836. | Principal Risks of <br> Investing in the <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br>|
| Contract Lapse | If your monthly deductions exceed your [Cash Surrender Value](#cashsurrendervalue_fcfcaf72-3d10-4028-ac4f-c59a9640d90f), then unless <br> your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) has an active [Death Benefit Guarantee](#deathbenefitguarantee_f166f35a-512a-44ce-9cec-2160c84d9bee) in effect your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br> will enter a 61-day grace period. We will notify you that your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) will lapse <br> (that is, terminate without value) if you do not send us a sufficient payment by <br> a specified date. No [Death Benefit](#deathbenefit_55312033-9f2a-407d-b07f-ed625d215d79) will be paid if the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is lapsed. We will <br> reinstate a [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) only if our requirements for reinstatement are satisfied, <br> which may include requiring new proof of insurability of the [Insured](#insured_ace30c7c-907f-4fe7-a633-5145ae358d57) person. | Lapse and <br> Reinstatement<br>|

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**2**

------

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| | | |
|:---|:---|:---|
| **RESTRICTIONS** | **RESTRICTIONS** | **Location in**<br> **Statutory**<br> **Prospectus**<br>|
| Investments | We place limits on frequent trading.<br> There is a $25 charge for each transfer when you transfer money between <br> investment options in excess of 12 times a year.<br> Thrivent reserves the right to remove or substitute [Portfolio](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) companies as <br> investment options that are available under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e).<br> We reserve the right to not accept any premiums when the [Death Benefit](#deathbenefit_55312033-9f2a-407d-b07f-ed625d215d79) is <br> based on the [Table of Factors](#tableoffactors_37916b15-f8a7-4551-bccd-e410f11aebea) in your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e).<br> We will also have the right to limit or refund a premium payment or make <br> distributions from the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) as necessary to continue to qualify the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br> as life insurance under federal tax law or to avoid the classification of your <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) as a "modified endowment contract" (MEC). | Frequent Trading <br> Among <br> [Subaccounts](#subaccount_65960ee4-d846-4589-a1e8-2bcca3f798b3) and <br> Other Transactions<br> Addition, Deletion, <br> Combination or <br> Substitution of <br> Investments<br> Premium Limits<br> Taxes<br>|
| Optional Benefits | Optional benefits may be subject to age and underwriting requirements. We <br> generally deduct any monthly costs for these Additional Benefits from the <br> [Accumulated Value](#accumulatedvalue_3172055f-4ca4-4b34-b652-1753b166cf94) as part of the monthly deduction. Optional benefits may <br> not be available for all ages or underwriting classes, may not be available after <br> original issue of the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) and may terminate at certain ages. We may stop <br> offering an optional benefit at any time prior to the time you elect to add it to <br> your Contract. | Other Benefits <br> Available Under <br> the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br>|
| **TAXES** | **TAXES** |  |
| Tax Implications | You should consult with a tax professional to determine the tax implications of <br> an investment in and payments received under this [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e).<br> Distributions from your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), if taxable, will be taxed at ordinary income tax <br> rates.<br> Depending on the total amount of premiums you pay and the frequency of <br> such payments, the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) may be treated as a MEC.<br> Distributions including loans and loan interest will be taxed on an "income first" <br> basis and may be subject to a penalty tax if taken before you are age 59 <sup>1</sup>∕2 if <br> your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) is a MEC.<br> The transfer of the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) or designation of a [Beneficiary](#beneficiary_5fbbd598-fbcb-4814-880c-ae4b3e4cad54) may have federal, <br> state, and/or local transfer and inheritance tax consequences, including the <br> impositions of gift, estate, and generation skipping transfer taxes. | Taxes |
| **CONFLICTS OF INTEREST** | **CONFLICTS OF INTEREST** | **Location in**<br> **Statutory**<br> **Prospectus**<br>|
| &nbsp;&nbsp; Investment <br> Professional <br> Compensation<br>| We no longer issue this [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) to new owners. Your financial advisor or <br> professional may receive compensation which may consist of commissions, <br> bonuses, asset-based compensation, and promotional incentives. This conflict <br> of interest may influence your financial advisor or professional to recommend <br> continued or larger future investments into this [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e), or another contract <br> issued by Thrivent, over another investment. | Distribution of the <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br>|
| Exchanges | Some investment professionals may have a financial incentive to offer you a <br> new contract in place of the one you own. You should only exchange your <br> contract if you determine, after comparing the features, fees, and risks of both <br> contracts, that it is better for you to purchase the new contract rather than <br> continue to own your existing contract. | Distribution of the <br> [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)<br>|

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**3**

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Overview of the Contract

This summary describes the Contract's important benefits and risks. The sections in the prospectus following this summary discuss the Contract's benefits and other provisions in more detail. For your convenience, we have provided [Special Terms](#specialterms_d2ad41e7-5898-4c3f-997b-095d58fc8c27) at the end of this prospectus that define certain words and phrases used in this prospectus.

**Purpose** 

The Contract is a flexible premium variable adjustable life insurance contract and is a long-term investment, not appropriate for a customer with near term liquidity needs. The primary purpose of the Contract is to provide a death benefit to beneficiaries upon the death of the Insured. Secondarily, the Accumulated Value in the Contract may provide a source of supplemental funds in the future.

**Premiums** 

You may pay premiums at any time and in any amount, subject to some restrictions. Insufficient premiums may result in a lapse of the Contract. Therefore, we recommend that you pay at least a Death Benefit Guarantee Premium to protect your Contract from lapsing. While there are no scheduled premium due dates, you may schedule planned periodic premiums and then you will receive billing statements for the amount you select. You may elect to receive billing statements quarterly, semi-annually or annually. In most cases, you may make changes in the frequency and payment amounts at any time by giving adequate Notice to our Service Center. Premiums may be allocated to the Subaccounts of the Variable Account and/or to the Fixed Account. Additional information about the Portfolios corresponding to the Subaccounts is provided in the [Appendix](#appendix_525b1b51-c22f-465a-89aa-bacb61ffd961) to this prospectus.

**Death Benefit**

***Option 1 (Level Death Benefit Option).*** Under this option and before age 100, the Death Benefit is the greater of the Face Amount or the death benefit factor multiplied by Accumulated Value. The death benefit factor depends on the Insured's Attained Age. The Death Benefit for this option generally remains level. The Death Benefit on any day on or after the Insured's Attained Age 100 is equal to the Accumulated Value on that day.

***Option 2 (Variable Death Benefit Option).***Under this option and before age 100, the Death Benefit is the greater of the Face Amount plus Accumulated Value, or the death benefit factor multiplied by Accumulated Value. The death benefit factor depends on the Insured's Attained Age. The Death Benefit for this option will vary over time, meaning it may increase or decrease. The Death Benefit on any day on or after the Insured's Attained Age 100 is equal to the Accumulated Value on that day.

**Death Proceeds**

We pay Death Proceeds to the Beneficiary upon receipt at our Service Center of due proof of death of the Insured. The Death Proceeds will equal the Death Benefit and any insurance on the life of the Insured provided by Additional Benefits less any Debt and the amount, if any, needed to cover monthly deductions through the month of death.

**Death Benefit Guarantee**

Two Death Benefit Guarantees were generally available at issue: a basic and an enhanced Death Benefit Guarantee. The Death Benefit Guarantee ensures that your Contract will remain in effect, even if the Cash Surrender Value is insufficient to pay the current monthly deductions, if the Death Benefit Guarantee requirements are met. (In some states, this feature is referred to as a "no-lapse guarantee.") The enhanced Death Benefit Guarantee was available for Contracts issued before age 70 and is in effect until the Insured reaches age 75 if the requirements are met. The Basic Death Benefit Guarantee is no longer active on any Contracts.

**4**

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**Access to Accumulated Value**

***Transfers****.* You may transfer accumulated value among the Subaccounts and the Fixed Account. You will not be charged for the first 12 transfers in a Contract Year. We will charge $25 for each additional transfer during a Contract Year. The minimum amount that may be transferred from a Subaccount or Fixed Account is $50, or if less, the total value in the Subaccount or the Fixed Account. There is no minimum amount that can be received by a Subaccount or Fixed Account.

***Automatic Asset Rebalancing Program****.* The Automatic Asset Rebalancing program transfers your Contract's Accumulated Value among Subaccounts (this excludes the Fixed Account) on a regular basis according to your instructions.

***Dollar Cost Averaging Program****.* Dollar Cost Averaging allows you to make regular transfers of predetermined amounts from your Money Market Subaccount to any or all of the other Subaccounts. The Dollar Cost Averaging amount from the Money Market Subaccount must be at least $50. You may choose to use the Money Market Subaccount as the source account at any time and for any length of time.

***Loans****.* You may borrow an amount equal to up to 90% (in most states) of the Accumulated Value of your Contract less any applicable Decrease Charge and existing Debt. The maximum annual interest rate is 5%. After the 10th Contract Year, you may borrow a portion of your Accumulated Value at an annual rate of 3% (preferred loan). For amounts that are left as collateral in the Loan Account, we pay an annual rate of 3%. Debt on non-preferred loan amounts will continue to increase unless it is repaid. Loans will impact your Contract's performance, must be repaid, could cause the Contract to lapse and may result in tax consequences. In your Contract, the discussion of the operation of the loan feature is described as a Loan Account. For additional information see *Loans* in this prospectus and in your Contract.

***Partial Surrenders****.* You may make a request to withdraw part of your Accumulated Value by giving us Notice. Decrease Charges may apply if the partial surrender results in a decrease in Face Amount and it has been less than 10 years since you increased the Face Amount. Partial surrenders may have tax consequences. Partial surrenders may decrease your Death Benefit and may impact the performance of the Contract including the number of years your Contract is expected to provide coverage. See *Charges* for more information on Decrease Charges.

***Surrenders.*** At any time while the Contract is in force and the Insured is living, you may surrender this Contract by giving us Notice. A surrender may result in a Decrease Charge depending on how long it has been since you last increased the Face Amount. For more information on Decrease Charges, see *Charges*. Surrenders may have tax consequences.

***Additional Benefits and Riders***

We offer several optional insurance benefits and riders that provide additional benefits under the Contract. There is a charge associated with most of these insurance benefits and riders. Your financial advisor or professional can help you determine whether any of these benefits and riders are suitable for you.

**Accidental Death Benefit (Optional Benefit)** <br>This benefit generally provides an additional death benefit when the Insured dies from accidental bodily injury. Subject to our overall limit on accidental death benefits, you may select the amount of coverage up to the same amount as the Face Amount of your Contract. Any accidental death benefit payable would be in addition to your basic death benefit. The charge for this rider, based on Issue Age, is a per-thousand rate multiplied by the accidental death amount.

**Disability Waivers (Optional Benefit)** <br>You may choose one of two different disability waivers. Waiver of monthly deductions provides that, in the event of your qualifying disability, we will waive your cost of insurance and expense deductions until the earlier of your age 100 or your recovery from disability. The charge for this rider is a percentage based on Attained Age multiplied by the amount of each monthly deduction. Waiver of selected amount credits the amount selected at issue. The charge for this rider is a percentage based on Attained Age multiplied by the selected amount.

**5**

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**Applicant Waiver of Selected Amount (Optional Benefit)** <br>This benefit enables the applicant on a Contract on the life of a minor to have selected amounts credited to the Contract if the applicant becomes disabled (as described above) or dies. Amounts will be credited until the end of the benefit period as defined in the rider. The charge for this benefit is a percentage based on Attained Age of the applicant and Issue Age of the Insured multiplied by the selected amount. The charge will apply until the rider terminates. The rider will terminate on the earliest of the following dates:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.The date the applicant reaches age 65 or the end of a benefit period, if later.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.The date control of the Contract is transferred to the Insured.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.The date the Contract terminates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The first monthly anniversary on or after the date we receive Notice to cancel the rider.

**Guaranteed Increase Option (Optional Benefit)** <br>Purchasing this option allows you to increase the amount of coverage without having to show evidence of insurability at certain pre-defined opportunities. The charge is a per-thousand rate multiplied by the size of the guaranteed increase amount. A new No-Lapse Guarantee Premium will be determined for any No Lapse Guarantee in effect on the date of increase.

**Child Term Life Insurance (Optional Benefit)** <br>This rider generally pays a benefit to the Beneficiary in the event of the death of a covered child of the Insured prior to the rider anniversary following the child's 25th birthday. Conversely, in the event of the death of the Insured, the rider for any covered child will become child paid-up term insurance in force to the child's 25th birthday. Beginning on the rider anniversary on or after the covered child's 21st birthday until the rider anniversary on or after that child's 25th birthday, the child will have the option to purchase his or her own life Contract without having to provide evidence of insurability. The charge for this benefit is a per-thousand rate multiplied by the amount of rider coverage. The charge does not depend upon the number of children insured.

This rider may be issued even if there are no eligible children at the time the Contract is issued. In this case, there is no charge for this rider while there are no covered children. If you notify us within six months of the first birth or adoption, your child, and any subsequent children, will be covered without evidence of insurability. Charges will begin six months after the date of birth or adoption.

**Term Life Insurance and Spouse Term Life Insurance (Optional Benefit)** <br>These riders provide additional term life insurance. The riders are available on the life of the Insured and/or on the life of the spouse of the Insured for up to 30 years. The charge for this benefit is a per-thousand cost of insurance rate multiplied by the amount of rider coverage.

**Cost of Living Adjustment Benefit (Optional Benefit)** <br>This benefit annually adjusts the Face Amount of the Contract and, if elected, your premium payments to keep pace with the Consumers' Price Index (CPI). The maximum increase is the smallest of 1) the CPI increase on a Contract Anniversary multiplied by the Face Amount rounded up to the next $100; 2) 10% of the Face Amount; and 3) $50,000. As a result of increasing the Face Amount, monthly deductions will increase. Furthermore, a new schedule of decrease charges will apply to any resulting increase in Face Amount. Any resulting increase to the Face Amount will also require a new Death Benefit Guarantee Premium amount to be determined. There is no separate charge to implement this benefit, however, by electing the benefit you should anticipate increasing costs associated with increasing your Face Amount. This benefit terminates at the earliest of the:

1)expiration date for the rider shown on page 5-COL of the Contract;

2)date the Contract terminates;

3)date the Contract owner rejects an increase in Face Amount under the rider;

4)effective date of any decrease in Face Amount;

**6**

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5)date the sum of the increases in Face Amount due to this rider equals or exceeds two times the Face Amount on the date of issue of the rider;

6)the effective date of any increase in Face Amount that has a rated Risk Class; and

7)the date the Contract owner gives Notice to cancel the rider.

**Accelerated Benefits Rider-Generally Available on Contracts Applied for Prior to January 15, 2008 (Optional Benefit)** <br>This rider pays a portion of the death benefit when requested if the Insured has a life expectancy of 12 months or less or has been in a nursing home for at least six consecutive months and is expected to remain there for the rest of his or her life. Tax consequences may result. See *Taxes*.

**Accelerated Death Benefit for Terminal Illness (Optional Benefit)** <br>You may add this rider at any time without cost. The rider allows you to receive the present value of the death benefit tax free if eligibility requirements are met. Eligibility requirements include doctor certification that the Insured is terminally ill. State variations apply.

**7**

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Fee Table

**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from the** [**Contract**](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)**. Please refer to your** [**Contract**](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) **specifications page for information about the specific fees you will pay each year based on the options you have selected.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the** [**Contract**](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)**, surrender or make withdrawals from the** [**Contract**](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)**, or transfer accumulated value between investment options.**

**Transaction Fees** 

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| | | |
|:---|:---|:---|
| **Charge** | **When Charge is Deducted** | **Amount Deducted** |
| **Percent of Premium Charge** | &nbsp;&nbsp;&nbsp; Upon receipt of each premium <br> payment<br>| 5% of each premium payment |
| **Premium Tax Charge** | Not currently applicable<sup>1</sup> | Not currently applicable<sup>1</sup> |
| **Decrease Charge**<sup>2</sup> | &nbsp;&nbsp;&nbsp; Upon surrender, lapse, or decrease <br> in the Face Amount<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum |  | &nbsp;&nbsp;&nbsp; $49.25 per $1,000 of decrease in <br> Face Amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum |  | &nbsp;&nbsp;&nbsp; $1.66 per $1,000 of decrease in <br> Face Amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for a male Insured, <br> Issue Age 40, in the standard <br> non-tobacco risk class with a <br> Face Amount of $225,000, in <br> the first Contract Year.<br>|  | &nbsp;&nbsp;&nbsp; $15.57 per $1,000 of decrease in <br> Face Amount<br>|
| **Transfer Charge** | &nbsp;&nbsp;&nbsp; Upon each transfer after the twelfth <br> in a Contract Year.<sup>3</sup><br>| $25 per transfer |
| **Accelerated Death Benefit** | On exercise of benefit<sup>4</sup> | $150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Illustration of Hypothetical** <br> **Values**<br>| Upon each request<sup>5</sup> | $25 per illustration |

---

<sup>1</sup> We are not currently subject to premium taxes. However, we reserve the right to impose a charge for these taxes in the future if we have to pay them. If imposed, the premium tax charge would be between 0% and 5% of premium payments.

<sup>2</sup> The Decrease Charge remains level for the first five years following an increase in Face Amount, and then decreases each Contract Year to zero after the 10th year following an increase in Face Amount. Decrease charges depend on the Insured's Issue Age, sex (in most states), amount of decrease in Face Amount, risk class and the amount of time since the last increase in Face Amount. The decrease charges shown in the table may not be representative of the charges you will pay. For decreases in Face Amount during the first 10 Contract Years following an increase in Face Amount, we calculate the amount of the Decrease Charge at the time of the decrease or surrender.

<sup>3</sup> We do not assess a transfer charge for the first twelve Subaccount transfers made each Contract Year.

<sup>4</sup> The charge may vary by state and may be lower in some states.

<sup>5</sup> The charge applies upon each request in excess of one per Contract Year. There is no charge for illustrations provided prior to Contract purchase.

**Periodic Charges Other Than Fund Operating Expenses** 

**The next table describes the fees and expenses that you will pay periodically during the time that you own the Contract, not including Fund fees and expenses.** 

**8**

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**Periodic Charges Other Than Fund Operating Expenses, cont.**

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| | |
|:---|:---|
| **Charge** | **When Deducted** |
| **Cost of Insurance Charge**<sup>6</sup> | &nbsp;&nbsp;&nbsp; On Date of Issue and monthly <br> thereafter<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum | &nbsp;&nbsp;&nbsp; $83.3333 per $1,000 of amount at <br> risk<sup>7</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum | &nbsp;&nbsp;&nbsp; $0.0106 per $1,000 of amount at <br> risk<sup>7</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for a male Insured, <br> Issue Age 40, in the standard <br> non-tobacco risk class with a <br> Face Amount of $225,000, in <br> the first Contract Year<br>| &nbsp;&nbsp;&nbsp; $0.19 per $1,000 of amount at <br> risk<sup>7</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mortality and Expense Risk** <br> **Charge**<br>A tiered charge based on <br> Subaccount Accumulated Value <br> up to $25,000<br>| &nbsp;&nbsp;&nbsp; On Date of Issue and monthly <br> thereafter<br>&nbsp;&nbsp;&nbsp; 0.07469% of the Subaccount <br> Accumulated Value within this <br> range<sup>8</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Administrative Charge (Basic** <br> **Monthly Charge)**<br>| &nbsp;&nbsp;&nbsp; On Date of Issue and monthly <br> thereafter<br>$9.00 for adults<sup>9</sup> |
| **Loan Interest** | &nbsp;&nbsp;&nbsp; On the monthly anniversary after a <br> loan is taken and monthly thereafter<br>&nbsp;&nbsp;&nbsp; 2% net interest rate on loan <br> balance.<sup>10</sup><br>|
| **Preferred Loan Interest** | &nbsp;&nbsp;&nbsp; On the monthly anniversary after a <br> loan is taken and monthly thereafter<br>&nbsp;&nbsp;&nbsp; 0% net interest rate on preferred <br> loan balance after the 10th <br> Contract Anniversary<sup>11</sup><br>|
| **Additional Benefit Charges:**<sup>12</sup> |  |
| ***Accidental Death Benefit*** | &nbsp;&nbsp;&nbsp; On the rider date of issue and <br> monthly thereafter<sup>13</sup><br>|

---

<sup>6</sup> Cost of insurance charges depend on the Insured's Issue Age, sex (in most states), amount at risk, Face Amount, risk class and duration of the Contract. The cost of insurance charges shown in the table are extremes and may not be representative of the charges you will pay. For more information on the calculation of this charge see *Charges*.

<sup>7</sup> The amount at risk is equal to the death benefit divided by 1.0024663, then less the Accumulated Value on the date the charge is deducted.

<sup>8</sup> After the 10th Contract Year the maximum annual rate dropped. For the first $25,000 the maximum annual rate is 0.90% of the Subaccount Accumulated Value. For Subaccount Accumulated Values in excess of $25,000 up to $100,000, the maximum annual rate is 0.80%. For Subaccount Accumulated Values in excess of $100,000, the maximum annual rate is 0.70%. This is a tiered charge. Actual current charges may be less. For additional information regarding this charge please see *Charges and Deductions* in this prospectus.

<sup>9</sup> Charge shown is for adults (Issue Age 18+ years) and is $9.00 per month. For juvenile (Issue Age 0-17) Contracts, the charge is $7.50 per month.

<sup>10</sup> You may borrow up to an amount such that the total loan amount does not exceed 90% of the Accumulated Value less decrease charges at the time of the loan request. We pay an annual rate of 3% on amounts that are left as collateral in the Loan Account, resulting in a maximum net interest rate of 2%.

<sup>11</sup> See the *Loans* section later in this prospectus for more information on preferred loans. We pay an annual rate of 3% on amounts that are left as collateral in the Loan Account, resulting in a maximum net interest rate of 0%.

<sup>12</sup> Charges for Additional Benefits may vary based on the Insured's Attained Age or Issue Age, sex (in most states), risk class, Face Amount, amount at risk, or rider coverage amount. Charges based on age may increase as the Insured ages. The charges noted apply if the rider is included in your Contract and the Contract and/or rider has not otherwise terminated. The rider charges shown in the table may not be representative of the charges you will pay. Before you purchase a Contract, we will provide you personalized illustrations of your future benefits under the Contract, based upon the Insured's age, sex, risk class, death benefit option chosen, Face Amount and riders requested.

<sup>13</sup> This charge applies until the Insured's Attained Age 70.

**9**

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**Periodic Charges Other Than Fund Operating Expenses, cont.**

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| | | |
|:---|:---|:---|
| **Charge** | **When Deducted** | **Amount Deducted** |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum |  | &nbsp;&nbsp;&nbsp; $1.0934 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum |  | &nbsp;&nbsp;&nbsp; $0.0058 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for a male Insured, <br> Issue Age 40, in the standard <br> risk class in the first Contract <br> Year<br>|  | &nbsp;&nbsp;&nbsp; $0.035 per $1,000 of rider <br> coverage amount<br>|
| ***Term Life Insurance Benefit*** | &nbsp;&nbsp;&nbsp; On the rider date of issue and <br> monthly thereafter<sup>14</sup><br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum |  | &nbsp;&nbsp;&nbsp; $83.3333 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum |  | &nbsp;&nbsp;&nbsp; $0.02 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for a male Insured, <br> Issue Age 40, in the standard <br> nontobacco risk class with a <br> Face Amount/rider coverage <br> amount of $225,000<sup>15</sup>, in the <br> first Contract Year<br>|  | &nbsp;&nbsp;&nbsp; $0.13 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Child Term Life Insurance** <br> **Benefit**<br>| &nbsp;&nbsp;&nbsp; On the rider date of issue and <br> monthly thereafter<sup>16</sup><br>| &nbsp;&nbsp;&nbsp; $0.45 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cost of Living Adjustment** <br> **Benefit**<br>|  | No charge for this benefit<sup>17</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ***Disability Waiver of Monthly*** <br> ***Deduction Benefit***<br>| &nbsp;&nbsp;&nbsp; On the rider date of issue and <br> monthly thereafter<sup>18</sup><br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum |  | &nbsp;&nbsp;&nbsp; 195.5% of the selected monthly <br> premium amount<sup>19</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum |  | &nbsp;&nbsp;&nbsp; 4.8% of the selected monthly <br> premium amount<sup>19</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for an Insured, Issue <br> Age 40, in the standard risk <br> class, in the first Contract Year.<br>|  | 7.7% of all monthly deductions<sup>19</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ***Disability Waiver of Selected*** <br> ***Amount Benefit***<br>| &nbsp;&nbsp;&nbsp; On the rider date of issue and <br> monthly thereafter<br>|  |

---

<sup>14</sup> The charge applies until the 30th rider anniversary.

<sup>15</sup> Any amount of coverage includes $90,000 of base coverage and $135,000 of term rider coverage with a total of $225,000.

<sup>16</sup> The charge applies until the child's Attained Age 25.

<sup>17</sup> This benefit will result in annual increases in Face Amount, which will result in increases in your overall cost of insurance deductions.

<sup>18</sup> The charge applies until the Insured's Attained Age 65.

<sup>19</sup> Monthly deductions include cost of insurance, benefit rider, administrative, and mortality and expense risk charges.

**10**

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**Periodic Charges Other Than Fund Operating Expenses, cont.**

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| | |
|:---|:---|
| **Charge** | **Amount Deducted** |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum | &nbsp;&nbsp;&nbsp; 98% of the selected monthly <br> premium amount<sup>20</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum | &nbsp;&nbsp;&nbsp; 1.9% of the selected monthly <br> premium amount<sup>20</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for a male Insured, <br> Issue Age 40, in the standard <br> risk class in the first Contract <br> Year<br>| &nbsp;&nbsp;&nbsp; 3.7% of the selected monthly <br> premium amount<sup>20</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ***Applicant Waiver of Selected*** <br> ***Amount Benefit***<br>&nbsp;&nbsp;&nbsp; On the rider date of issue and <br> monthly thereafter<sup>21</sup><br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum | &nbsp;&nbsp;&nbsp; 195% of the selected monthly <br> premium amount<sup>20</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum | &nbsp;&nbsp;&nbsp; 5% of the selected monthly <br> premium amount<sup>20</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for an Insured, Issue <br> Age 0 and applicant age 30, in <br> the standard risk class, in the <br> first Contract Year<br>| &nbsp;&nbsp;&nbsp; 6% of the selected monthly <br> premium amount<sup>20</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ***Guaranteed Increase Option*** <br> ***Benefit***<br>&nbsp;&nbsp;&nbsp; On the rider date of issue and <br> monthly thereafter<sup>22</sup><br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum | &nbsp;&nbsp;&nbsp; $0.21 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum | &nbsp;&nbsp;&nbsp; $0.03 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for an Insured, Issue <br> Age 0<br>| &nbsp;&nbsp;&nbsp; $0.03 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ***Spouse Term Life Insurance*** <br> ***Benefit***<br>&nbsp;&nbsp;&nbsp; On the rider date of issue and <br> monthly thereafter<sup>23</sup><br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum | &nbsp;&nbsp;&nbsp; $83.3333 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Minimum | &nbsp;&nbsp;&nbsp; $0.02 per $1,000 of rider <br> coverage amount<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge for a female Insured, <br> Issue Age 40, in the standard <br> nontobacco risk class with a <br> rider coverage amount of <br> $250,000, in the first Contract <br> Year<br>| &nbsp;&nbsp;&nbsp; $0.10 per $1,000 of rider <br> coverage amount<br>|

---

<sup>20</sup> Any amount selected by the Contract Owner at issue between a pre-defined range. The minimum amount is the basic Death Benefit Guarantee Premium amount and the maximum amount is the guideline level premium as described under the Internal Revenue Code.

<sup>21</sup> The charge stops when the rider terminates.

<sup>22</sup> This charge applies until the Insured's Attained Age 43.

<sup>23</sup> This charge applies until the rider coverage ends.

**11**

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**The next item shows the minimum and maximum total annual operating expenses charged by the** [**Portfolios**](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) **that investors will bear during the time that they own the** [**Contract**](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)**. This table shows the range (maximum and minimum) of fees and expenses (including management fees and other expenses) charged by the** [**Portfolios**](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d)**, expressed as an annual percentage of average daily net assets. A complete list of the** [**Portfolios**](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) **corresponding to** [**Subaccounts**](#subaccount_65960ee4-d846-4589-a1e8-2bcca3f798b3) **available under the** [**Contract**](#contract_17547b3e-a6b5-4582-a75d-107711000c3e)**, including their annual expenses, may be found at the back of this document in the** [**Appendix**](#appendix_525b1b51-c22f-465a-89aa-bacb61ffd961)**.** 

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| | | |
|:---|:---|:---|
| **Annual** [**Portfolio**](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) **Expenses** | **MINIMUM** | **MAXIMUM** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expenses that are deducted from [Portfolio](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) assets, including management fees, distribution <br> fees and other expenses.<br>| 0.22% | 1.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expenses that are deducted from [Portfolio](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) assets, after reimbursements and/or fee <br> waivers.\*<br>| 0.22% | 1.15%\* |

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\* The reimbursements and/or fee waivers will last until April 30, 2026, but may be terminated at any time in the future.

As a fraternal benefit society, Thrivent is also required to have a Maintenance of Solvency provision that could require you to pay us an amount to maintain our financial strength. For a complete discussion of the Maintenance of Solvency provision, see *Maintenance of Solvency* in the statutory prospectus*.*

Principal Risks of Investing in the Contract

**Investment Risk**

The Contract is not suitable as a short-term investment vehicle. If you invest your accumulated value in one or more Subaccounts, then you will be subject to the risk that investment performance of the Subaccounts will be unfavorable and that the accumulated value will decrease. The assets in each Subaccount are invested in a corresponding Portfolio of the Fund. A comprehensive discussion of the risks of each Portfolio may be found in the Fund's prospectus. You could lose everything you invest and your Contract could lapse without value, unless you pay additional premium. If you allocate premiums to the Fixed Account, then we credit your accumulated value in the Fixed Account with a declared rate of interest. You assume the risk that the rate may decrease, although the Fixed Account rate will never be lower than a guaranteed minimum annual effective rate of 3%.

**Risk of Lapse** 

If your monthly deductions exceed your Cash Surrender Value and a Death Benefit Guarantee is not in effect, your Contract will enter a 61-day (in most states) grace period. We will notify you that your Contract will lapse (that is, terminate without value) if you do not send us a sufficient payment by a specified date. Your Contract generally will not lapse:

♦

if you make timely payment of the minimum premium amount required to keep your Death Benefit Guarantee in effect; or

♦

if during the grace period you make a payment sufficient to cover the next two monthly deductions plus any additional amount necessary to bring your Cash Surrender Value to a positive balance before the end of the grace period. Subject to certain conditions, you may reinstate a lapsed Contract.

**Tax Risks**

We anticipate that the Contract should be deemed a life insurance contract under federal tax law. However, the federal income tax requirements applicable to the Contract are complex and there is limited guidance and some uncertainty about the application of the federal tax law to the Contract. Assuming that the Contract qualifies as a life insurance contract for federal income tax purposes, you should not be deemed to be in constructive receipt of Accumulated Value. However, the IRS could determine that a Contract Owner is in constructive receipt of the Accumulated Value if the Accumulated Value becomes equal to the Death Benefit, which can occur in some instances where the Insured is Attained Age 95 or older. In a case where there may be constructive receipt, an amount equal to the excess of the Accumulated Value over the investment in the contract could be includible in the Contract Owner's income at that time. Under current tax law, Death

**12**

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Proceeds payable under the Contract generally would be excludable from the gross income of the Beneficiary. As a result, the Beneficiary generally should not have to pay U.S. federal income tax on the Death Proceeds. However, the Death Proceeds may be subject to state and/or federal estate and/or inheritance tax.

Depending on the total amount of premiums you pay, the Contract may be treated as a MEC under federal tax laws. If a contract is treated as a MEC, then surrenders, partial surrenders, and loans under the Contract will be taxable as ordinary income to the extent there are earnings in the Contract. In addition, a 10% penalty tax may be imposed on surrenders, partial surrenders, and loans taken before you reach age 59 <sup>1</sup>∕2. If the Contract is not a MEC, distributions generally will be treated first as a return of your investment in the Contract and then as taxable income. Moreover, loans generally will not be treated as distributions. Finally, neither distributions nor loans from a Contract that is not a MEC are subject to the 10% penalty tax. See *Taxes*.

If the Contract lapses, a tax may result. Additionally, if the Contract lapses and is later reinstated, the Contract may be treated as a MEC.

We make no guarantees regarding any tax treatment—federal, state or local—of any Contract or of any transaction involving a Contract.

You should consult a qualified tax advisor for assistance in all Contract-related tax matters.

**Surrender and Partial Surrender Risks**

A Decrease Charge applies during the first 10 Contract Years after the Date of Issue and for 10 years after each increase in Face Amount. Depending on the amount of premium paid, or any decreases in Face Amount, there may be little or no Cash Surrender Value available to you at the time you surrender your Contract. You should purchase the Contract only if you have the financial ability to keep it in force for a substantial period of time. You should not purchase the Contract if you intend to surrender all or part of the Accumulated Value in the near future. We designed the Contract to meet long-term financial goals. The Contract is not suitable as a short-term investment.

Even if you do not ask to surrender your Contract, Decrease Charges may play a role in determining whether your Contract will lapse (terminate without value). This is because Decrease Charges affect the Cash Surrender Value, a measure we use to determine whether your Contract will enter a grace period (and possibly lapse). See *Risk of Lapse* in this section.

A partial surrender will reduce Accumulated Value, death benefit and the amount of premiums considered paid to meet the Death Benefit Guarantee Premium requirement. If you select a Level Death Benefit Option, a partial surrender also will generally reduce the Face Amount of the Contract.

A surrender or partial surrender may have tax consequences. See *Taxes*.

**Loan Risks**

A Contract loan will affect Accumulated Value over time because we transfer the amount of the loan from the Subaccounts and/or Fixed Account to the Loan Account where the value serves as collateral to assure repayment of the Loan. This loan collateral does not participate in the investment performance of the Subaccounts.

The non-preferred loan amounts will grow and must be repaid. If the loan is not repaid during the Insured's life, we reduce the amount we pay on the Insured's death by the amount of any outstanding Debt to repay the loan. A loan will reduce your Cash Surrender Value, Death Proceeds and the amount of premiums considered to meet the Death Benefit Guarantee Premium requirement. If you surrender the Contract or allow it to lapse while a Contract loan is outstanding, the Loan Account collateral will be used to repay the Debt and the amount of Debt, to the extent it has not previously been taxed, will be considered part of the amount you have received and taxed accordingly. A loan may have immediate tax consequences if your Contract is a MEC, even if you do not surrender the Contract or allow it to lapse. See *Taxes*.

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**Portfolio Risks**

A comprehensive discussion of the risks of each Portfolio in which the Subaccounts invest may be found in the summary prospectus for each Fund. Please refer to the summary prospectus for the Fund for more information. There is no assurance that any Portfolio will achieve its stated investment objective.

**Short-Term Investment Risk** 

The Contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. The Contract is more beneficial to investors with a long time horizon. Surrender charges, expenses, and tax consequences make the Contract unsuitable as a short-term investment.

**Insurance Company Risk** 

An investment in the Contract is subject to the risks related to Thrivent. Any obligations, guarantees, and benefits of the Contract are subject to the claims-paying ability and financial strength of Thrivent. If Thrivent experiences financial distress, it may not be able to meet its obligations to you. More information about Thrivent, including its financial strength ratings, is available upon request by calling 1-800-847-4836.

**Fixed Account Risk** 

Interest guarantees are subject to Thrivent's claims paying ability.

**Premium Payment Risk** 

We reserve the right to not accept premiums when the Death Benefit is based on the Table of Factors in your Contract. We will also have the right to limit or refund a premium payment or make distributions from the Contract as necessary to continue to qualify the Contract as life insurance under federal tax law or to avoid the classification of your Contract as a MEC.

**Fees and Charges** 

Deduction of Contract fees and charges, and optional benefit charges, may result in loss of principal. We reserve the right to increase the fees and charges under the Contract and optional benefits up to the maximum guaranteed fees and charges stated in your Contract or optional benefit rider.

**Risks Affecting our Administration of Your Contract** 

We and our service providers and business partners are subject to certain risks, including those resulting from system failures, cybersecurity events, pandemics and epidemics and other disasters. Such events can adversely impact us and our operations. These risks are common to all insurers and financial service providers and may materially impact our ability to administer the Contract (and to keep Contract owner information confidential).

**Alternatives to the Contract** 

Other contracts or investments may provide more favorable returns or benefits than the Contract.

**Potentially Harmful Transfer Activity** 

The Contract is not designed for frequent transfers by anyone. Frequent transfers between subaccounts may disrupt the underlying Portfolios and could negatively impact performance, by interfering with efficient management and reducing long-term returns, and increasing administrative costs. Frequent transfers may also dilute the value of shares of an underlying Portfolio. Neither the Contracts nor the underlying Portfolios are meant to promote any active trading strategy, like market timing. Allowing frequent transfers by one or some Contract Owners could be at the expense of other Contract Owners. To protect Contract Owners and the underlying Portfolios, we have policies and procedures to deter frequent transfers between and among the Subaccounts. We cannot guarantee that these policies and procedures will be effective in detecting and preventing all transfer activity that could potentially disadvantage or hurt the rights or interests of other Contract Owners.

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**Risk of Increase in Current Fees and Expenses** 

Certain insurance charges are currently assessed at less than their maximum levels. We may increase these current charges in the future up to the guaranteed maximum levels, based on changes in the Company's future expectations of relevant factors, as determined in its sole discretion. Although some Portfolios may have expense limitation agreements, the operating expenses of the Portfolios are not guaranteed and may increase or decrease over time. If fees and expenses are increased, you may need to increase the amount and/or frequency of Premium Payments to keep the Contract in force.

**Cybersecurity Risk** 

We and our service providers may be susceptible to operational, cybersecurity, and related risks. In general, cybersecurity events can result from deliberate or unintentional events. Cybersecurity events include, but are not limited to, acts or attempts to gain unauthorized access to information and/or information systems, or to otherwise disrupt operations. Cybersecurity events affecting us, a Subaccount, or our service providers have the ability to disrupt and impact your Contract and our operations, including but not limited to, financial losses, ability to calculate Contract values and benefits, corrupting data or preventing parties from sharing information necessary for our operations, preventing and/or slowing transactions, potentially subjecting us to regulatory fines and penalties, and creating additional compliance costs. Similar types of cybersecurity risks are also present for issuers or securities in which the Subaccounts may invest, which could result in material adverse consequences for such issuers and may cause the Subaccounts' investments in such companies to lose value. While we and our service providers have established reasonable controls to mitigate the risk of a cybersecurity event, there are inherent limitations in such controls, plans and systems. Additionally, while we do have control frameworks and we do perform due diligence on our service providers, we cannot fully control the cybersecurity plans and systems put in place by our service providers or any other third parties whose operations may affect the Subaccounts or your Contract. Although we attempt to minimize such failures through controls and oversight, it is not possible to identify all operation risks that may affect the Subaccounts or your Contract, or to develop processes and controls that completely eliminate or mitigate the occurrence of such failures or other disruptions in service. The value of an investment in a Subaccount may be adversely affected by the occurrence of the operational errors, failures, technological issues, or other similar events, and you may bear costs tied to these risks.

Description of the Insurance Company, Registered Separate Account, and [Portfolios](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d)

**Insurance Company** 

Thrivent Financial for Lutherans is the insurance company that issues the Contract with principal executive offices located at 600 Portland Ave S., Suite 100 Minneapolis, MN 55415. Thrivent is a not-for-profit financial services membership organization of Christians helping our members achieve financial security and give back to their communities. We were organized in 1902 as a fraternal benefit society under Wisconsin law, and comply with Internal Revenue Code Section 501(c)(8). We are licensed to sell insurance in all states and the District of Columbia. For more information, visit Thrivent.com.

**Registered Separate Account** 

Thrivent Variable Life Account I is the Registered Separate Account for the Contract. Thrivent Variable Life Account I is a segregated asset account established by the Board of Directors of Thrivent (then, Aid Association for Lutherans) on May 8, 1997, pursuant to the laws of the State of Wisconsin, and the first investment was made on March 31, 1998. The account meets the definition of "separate account" under the federal securities laws. The Variable Account is a unit investment trust, which is a type of investment company. It is registered with the Securities and Exchange Commission (SEC) under the 1940 Act. Such registration does not involve supervision by the SEC of the management or investment policies or practices of the Variable Account.

**15**

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Income, gains and losses credited to, or charged against, the separate account reflect the separate account's own investment experience and not the investment experience for the Insurance Company's other assets. The assets of the separate account may not be used to pay any liabilities of the Insurance Company other than those arising from the Contracts. The Insurance Company is obligated to pay all amounts promised to investors under the Contracts. Thrivent is relying on the exemption provided by rule 12h-7 under the Securities Exchange Act (17 CFR 240.12h-7).

**Portfolios** 

Information regarding each Portfolio, including its name, investment type, investment advisor and sub-advisor (if applicable), current expenses and performance is available in the Appendix to this prospectus. Each Portfolio has issued a prospectus containing more detailed information about the Portfolio. You can view these online at dfinview.com/Thrivent/VariableLife03. You can also request paper copy by calling our Service Center at 1-800-847-4836, or by sending an email request to mail@thrivent.com.

**Voting** 

To the extent required by law, we will vote the Portfolio's shares held in the Variable Account at regular and special shareholder meetings of the Portfolio in accordance with instructions received from persons having voting interests in the corresponding Subaccounts (investment options) of the Variable Account. If, however, the 1940 Act or any regulation thereunder should be amended or if the present interpretation thereof should change, and as a result we determine that we are permitted to vote the Fund's shares in our own right, we may elect to do so.

Any Portfolio shares held in the Variable Account for which we do not receive timely voting instructions, or which are not attributable to Contract Owners, will be voted by us in proportion to the instructions received from all Contract Owners. Any Portfolio shares held by us or our affiliates in General Accounts will, for voting purposes, be allocated to all separate accounts of ours and our affiliates having a voting interest in that Portfolio in proportion to each such separate account's votes. Voting instructions to abstain on any item to be voted upon will be applied on a pro rata basis to reduce the votes eligible to be cast.

Each person having a voting interest in a Subaccount will receive proxy materials, reports and other materials relating to the appropriate Portfolio.

**Important Notice Regarding Delivery of Documents** 

In response to concerns regarding multiple mailings, we send one copy of a prospectus to each household. This process is known as householding. This consolidation helps reduce printing and postage costs, thereby saving money. If you wish to receive additional copies, call us toll-free at 800-847-4836. If you wish to revoke householding in the future, you may write to us at P.O. Box 8075, Appleton, WI 54912-8075, or call us at 800-847-4836. We will begin to mail separate regulatory mailings within 30 days of receiving your request.

Charges

Charges are necessary to pay Death Benefits and to cover the expenses generated by issuing, distributing and administering the Contract. We expect to profit from one or more of the charges under the Contract. We can use these profits from any of these charges for any corporate purpose including our fraternal activities.

**Percent of Premium Charge**

We charge a Percent of Premium Charge of 5% on premiums. We use this charge to cover the costs of sales and other expenses.

**Decrease Charge**

If you elect to surrender your Contract, reduce the Face Amount, or if the Face Amount is decreased as a result of a partial surrender or Death Benefit Option change, we will reduce your Accumulated Value by the applicable Decrease Charge. Decrease Charges compensate us for expenses associated with underwriting, issuing and distributing the

**16**

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Contract. For decreases in the Face Amount or partial surrenders that result in a decrease in Face Amount during the first 10 Contract Years (or first 10 years following an increase in Face Amount), we calculate the amount of the Decrease Charge at the time of the reduction in Face Amount or surrender. We do not deduct this amount until the next Monthly Anniversary or upon surrender or lapse, if earlier. We do not impose any other charges (such as mortality and expense risk charges) on the Decrease Charge amount during this time. Because the Decrease Charge is not immediately deducted, you retain the investment risk on such amount prior to deduction and will bear any investment loss and benefit from any investment gain on such amounts. If the Decrease Charge applies to a partial surrender, the Decrease Charge will be deducted from the Subaccounts and Fixed Account in the same ratios as used for the partial surrender. If the Decrease Charge applies to other Face Amount decreases, the Decrease Charge will be deducted from the Subaccounts and Fixed Account in the same ratios as the monthly deduction is taken. New Decrease Charges apply to each Face Amount increase.

The Decrease Charge is assessed on a per thousand basis. The amount per thousand of Face Amount varies by sex (in most states), Face Amount, risk class and Issue Age. For the first five Contract Years, the Decrease Charge remains level then grades to zero after the 10th Contract Year. Beginning in the 11th year after the Date of Issue (assuming no increases in Face Amount), the Decrease Charge will be zero. We list your Decrease Charges in your Contract.

If you increase your Contract's Face Amount, a new Decrease Charge is applicable to the increase, in addition to any existing Decrease Charge. We list your actual Decrease Charges for the increased Face Amount separately on a supplementary Contract schedule. We mail the supplementary Contract schedule to you after we process the request for increase in Face Amount.

**Range of Decrease Charges as a Percentage of Face Amount Reduction** 

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Duration in Years Since Face** <br> **Amount Increase**<br>| **1** | **2** | **3** | **4** | **5** | **6** | **7** | **8** | **9** | **10** | **11** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lowest Possible Charge at <br> Any Age<br>| 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.14% | 0.11% | 0.08% | 0.06% | 0.03% | 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Highest Possible Charge at <br> Any Age<br>| 4.93% | 4.93% | 4.93% | 4.93% | 4.93% | 4.10% | 3.28% | 2.46% | 1.64% | 0.82% | 0.00% |

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If you decrease the Face Amount while the Decrease Charge applies, we assess a Decrease Charge on a per $1,000 basis. We subtract the amount of decrease first from any previous increases in the Face Amount, starting with the most recent and then as needed from the original Face Amount.

**Transfer Charge**

You may make up to twelve transfers per Contract Year from the Subaccounts without charge. We charge $25 for each transfer in excess of twelve per Contract Year. This charge is deducted from the Subaccounts and the Fixed Account in proportion to the amount transferred from each. Transfers resulting from Dollar Cost Averaging, asset rebalancing and loans do not count as transfers for the purpose of assessing this charge.

**Monthly Deductions from Accumulated Value**

We deduct certain charges from Accumulated Value on a monthly basis. We refer to these charges as monthly deductions. Monthly deductions are deducted from each Subaccount or Fixed Account on a basis proportional to the Accumulated Value less any loan interest in the Contract. With our approval, you may choose other allocations of the monthly deductions. We deduct charges each month, beginning with the Contract Date (effective retroactive to the Date of Issue, if different) then monthly thereafter on each Monthly Deduction Date, provided that day of the month is a Valuation Date. If that day of the month does not fall on a Valuation Date, we use the next Valuation Date. Because portions of the deductions (e.g., the cost of insurance) can vary from month to month, the aggregate monthly deductions also will vary.

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The monthly deductions consist of:

♦

the cost of insurance charge;

♦

the monthly mortality and expense risk charge;

♦

the monthly administrative charge; and

♦

charges for additional insurance benefits (riders), if any.

**Cost of Insurance Charge**

We assess a monthly cost of insurance charge to compensate us for underwriting the death benefit. The charge depends on a number of variables (including Issue Age, sex (in most states), risk class, rating class, duration, and Face Amount) that would cause it to vary from Contract to Contract.

The primary factors in the determination of the cost of insurance are the cost of insurance rate (or rates) and the net amount at risk. The cost of insurance charge for the initial Face Amount equals: the cost of insurance rate for the Insured's age shown in your Contract, multiplied by the initial net amount at risk of your Contract divided by 1,000. Factors that affect the amount at risk include investment performance, payment of premiums, charges, partial surrenders and surrenders. We deduct the cost of insurance charge on each date we assess monthly deductions, starting with your Contract Date (effective retroactive to the Date of Issue, if different).

We underwrite the applicant to determine the risk class using information provided in the application and in other sources permitted by law. The factors that we consider for underwriting include, but are not limited to:

♦

the amount of insurance applied for,

♦

the proposed Insured's age,

♦

outcome of medical testing,

♦

reports from physicians (attending physicians' statements); and/or

♦

other information such as financial information that may be required.

Based on this information, standard or preferred coverage may be offered, or if it is determined that risks for a proposed Insured are higher than would be the case for a healthy individual, the proposed Insured may receive a rating which increases cost of insurance rates or, in some cases, the proposed Insured may be declined.

**Cost of Insurance Rates**

Cost of insurance rates are determined for the initial Face Amount and each increase in Face Amount. Actual cost of insurance rates may change, and we will determine the actual monthly cost of insurance rates based on allowable factors.

Actual cost of insurance rates will never be greater than the guaranteed maximum cost of insurance rates in the Contract. These guaranteed rates are determined based upon the Insured's Attained Age and the applicable rate in the 1980 CSO Mortality Tables for Non-smokers and Smokers. We currently use cost of insurance rates that are generally lower than the guaranteed cost of insurance rates, and we reserve the right to raise those current rates.

Our current cost of insurance rates apply uniformly to all Insureds of the same Issue Age, Attained Age, sex, risk class and rating within the same band. Banding refers to the Face Amount. For purposes of this charge, the Insurance Coverage Amount includes any increases to the Face Amount made subsequent to the initial Face Amount and also includes the amount of any term rider coverage on the Insured under this Contract. Face Amounts within increasingly higher bands will generally result in a reduced cost of insurance on a per thousand basis. Any changes in the cost of insurance rates will apply uniformly to all Insureds of the same risk class within the same band. The bands for this charge are as follows:

**18**

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| |
|:---|
| **Banded Levels** |
| $25,000 to $99,999 |
| $100,000 to $249,999 |
| $250,000 to $499,999 |
| $500,000 to $999,999 |
| $1,000,000 and above |

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The cost of insurance rates generally increase as the Insured's Attained Age increases, and they vary with the number of years the Face Amount or any increase in Face Amount has been in force. The risk class of an Insured also will affect the cost of insurance rate. Insureds in the preferred risk class generally will have a lower cost of insurance rate than those in risk classes involving higher mortality risk.

Insureds in non-tobacco risk classes will generally have a lower cost of insurance rate than similarly situated Insureds in tobacco risk classes. We use the same guidelines in determining premiums for the cost of insurance for the Contract as we would for any other life insurance Contract of similar risk class we offer.

**Mortality and Expense Risk Charges**

The mortality and expense risk charge is a monthly charge for risks that we assume in the Contracts. The mortality risk assumed is that Insureds, as a group, may live for a shorter period of time than we estimate and, therefore, the cost of insurance charges specified in the Contract would be insufficient to meet actual claims. The expense risk is that expenses incurred in issuing and administering the Contracts and operating the Variable Account may be greater than the charges we assess for such expenses. We may use any profit to pay distribution, sales and other expenses.

The following table outlines our current annual mortality and expense risk charge that will be assessed from and based on the Accumulated Value of all of your Subaccounts. These charges are different in Maryland. No mortality and expense risk charges are deducted from the Fixed Account. This is a tiered charge based on your Accumulated Value at the time the charge is deducted.

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| | |
|:---|:---|
|  | **Maximum M&E Charge** |
|  | **For Contract Years:** |
| **Subaccount Accumulated Value** | **More than 10 years** |
| 0 up to $25,000 | **0.90%** |
| (monthly) | (0.07469) |
| Next $75,000 | **0.80%**  |
| (monthly) | (0.06642) |
| $100,000 and above | **0.70%**  |
| (monthly) | (0.05815) |

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**Administrative Charge (Basic Monthly Charge)**

We deduct a charge to cover administrative costs. This charge covers such expenses as premium billing and collection, Accumulated Value calculation, transaction confirmations and periodic reports. This charge is dependent upon the Issue Age of the Insured. For Contracts we issue to Insureds whose Issue Age is from 0 to 17, we charge a monthly charge of $7.50. We charge all others $9 per month.

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**Rider or Additional Benefit Charge**

If your Contract includes riders or additional benefits, we will deduct a monthly cost for those benefits from the Accumulated Value. Benefits include guaranteed increase option, disability waivers, applicant waiver and accidental death, term insurance rider, child term rider and spouse term insurance rider.

**Fund Charges**

The value of the net assets of each Subaccount reflects the investment advisory fee and other expenses incurred by the underlying Portfolios in which the Subaccount invests. For more information on these fees and expenses, refer to the Fund's summary prospectuses and *Fee Tables* above.

**Variation or Reduction of Charges**

We may vary the charges and other terms of the Contracts if special circumstances result in reduced sales expenses, administrative expenses, or various risks. These variations will not be unfairly discriminatory to the interests of other Contract Owners. Variations may occur in Contracts sold to members of a class of associated individuals, an employer or other entities representing an associated class.

**Compensation Paid to Financial Advisors and Professionals** 

Compensation consists of commissions, bonuses and promotional incentives. Increases in coverage pay at a first-year commission rate of 20% to 92% of commissionable premiums paid into the Contract. Your financial advisor or professional also receives a premium based trail compensation ranging from 0% to 7.448% annually.

Your financial advisor or professional may receive asset-based compensation in the amount of 0% to 0.312% of the Accumulated Value, if eligible. If you elect a settlement option, we pay commissions to the financial advisor or professional ranging from 0% to 0.980% of the premium applied to the settlement option, if eligible.

See *Distribution of the Contracts* for more information.

**Maintenance of Solvency**

The Maintenance of Solvency provision is a legal requirement of a fraternal benefit society. The provision can come into play only when the reserves of a fraternal benefit society become impaired. That means there would be a serious concern with the financial position of the society. It is extremely unlikely that Thrivent would be in an impaired condition considering its financial position. In the extraordinary event that our reserves become impaired, you may be required to make an extra payment. This can happen only in the rare event that the insurance commissioner issued an order declaring us to be in a hazardous condition. If that happened, our Board of Directors would work with the commissioner to determine each member's portion of the deficiency. You could submit additional funds, have the amount treated as a debt against the Contract, or take a reduction in benefits. Please be advised that a Maintenance of Solvency provision is applicable to all fraternal benefit societies, regardless of the financial position and ratings of the society. You may review our financial statements and reports from our independent public accounting firm in the Statement of Additional Information (SAI) found online at dfinview.com/Thrivent/VariableLife03

General Description of the Contract

While the Insured is alive, the Owner of the Contract may exercise every right and enjoy every benefit provided in the Contract.

For a Contract where the Insured and Owner of the Contract is younger than age 16 (juvenile), an adult must apply on behalf of the Insured in this case and retain control over the Contract. The adult is referred to as the applicant controller in the Contract. The applicant controller exercises certain rights of ownership on behalf of the juvenile. These rights are described in the Contract. The applicant controller may transfer control to another eligible person but cannot transfer ownership of the Contract.

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After the juvenile Insured/Owner attains age 16, control will transfer to the Insured/Owner on the earlier of:

♦

the Contract Anniversary after the Insured's 21st birthday;

♦

the date on which the applicant controller transfers control to the Insured/Owner by giving us Notice; or

♦

the date of death of the applicant controller.

If the person who has control of the Contract dies before the juvenile Insured attains age 16, control will be vested in an eligible person according to our bylaws. If we determine that it is best for the Insured, we may transfer control of the Contract to some other eligible person according to our bylaws.

**Illustrations** 

Your financial advisor or professional will provide you an illustration for your Contract upon your request. Illustrations show how the Death Benefit and Accumulated Value for the Contract would vary based on hypothetical future investment results. The hypothetical future investment results you choose to review in your illustrations should be based upon realistic expectations given your own individual situation. Illustrations for variable life insurance policies do not project or predict investment results. The illustrated values assume that non-guaranteed elements such as dividends, Contract charges and level investment returns will not change. The illustrated values also assume that the investment results are never a negative amount (below zero percent) even though negative investment results are likely to happen. Given the volatility of the securities markets over time, the illustrated scenario is unlikely to occur and actual values, Death Benefits, and certain expenses (which may vary with the investment performance of the Portfolios) will be more or less than those illustrated. In addition, the actual timing and amounts of payments, deductions, expenses and any values removed from the Contract will also impact product performance. Due to these variations, even a Portfolio that averaged the same return as illustrated will produce values which will be more or less than those which were originally illustrated.

**Replacement of Existing Insurance**

It may not be in your best interest to surrender, lapse, change or borrow from existing life insurance policies or annuity contracts to increase coverage under this Contract. You should compare your existing insurance and this Contract carefully. You should replace your existing insurance only when you determine additional coverage under this Contract is better for you. You may have to pay a surrender charge on your existing insurance, and this Contract imposes a new Decrease Charge period on the amount of the increase in coverage. If you surrender your existing insurance policy for cash and then increase coverage under this Contract, you may have to pay a tax, including possibly a penalty tax, on the surrender. If the premium is coming from the issuer of your existing insurance policy, the increase of coverage under this Contract may be delayed.

**Term Conversion**

Contract Owners may be eligible for a contractual conversion incentive to convert their Thrivent term insurance contract(s) or rider(s) to permanent coverage.

If you are eligible for and exercise the conversion privilege found in eligible Thrivent term contracts and riders, Thrivent will give you a credit toward the first premium payable for the new coverage. The amount of the credit will not be less than $1.00 per $1,000 of term insurance that is converted.

Review this opportunity with your financial advisor or professional to determine whether it is available to you and right for you.

**Misstatement of Age or Sex Provision** 

If the insured's age or sex has been misstated, adjustments will be made using one of the following methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. If misstatement is discovered upon the Insured's death, the Face Amount will be changed to be the amount that would have been provided by the most recent cost of insurance deduction using the correct age and sex. The Death Proceeds on the date of change will not be less than the Cash Surrender Value prior to the change.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. If misstatement is discovered while the Insured is living, the Accumulated Value will be changed to be the amount that would have been provided if the correct age and sex had been used to calculate values beginning on the Date of Issue. However, if this would result in termination of the Contract, the Accumulated Value will not change and the Face Amount will be changed as in (1) above. All future Contract charges will use the correct age and sex.

These methods will be revised as necessary for the Contract to continue to qualify as life insurance under federal tax rules.

**Suicide Exclusion Provision**

If the Insured dies by suicide within two years after the effective date of an increase in Face Amount, the Death Proceeds with respect to the increase are limited to the cost of insurance for the increase.

If your Contract was issued in North Dakota, Missouri or Colorado, the suicide exclusion period listed above is shortened to one year.

**Ownership Rights**

The Contract belongs to the Owner named in the application. While the Insured is living, the Owner may exercise all of the rights and options described in the Contract. The Insured is the Owner unless the application specifies another person as the Owner, or the Owner is changed after issue. If the Owner is not the Insured and dies before the Insured, ownership of the Contract will pass to the Owner's estate, unless a successor Owner has been designated. To the extent permitted by law, Contract benefits are not subject to any legal process for the payment of any claim against the payee, and no right or benefit will be subject to claims of creditors (except as may be provided by assignment). However, if the Issue Age was less than 16 and an applicant controller applied for the Contract, then you are the Owner but may not exercise ownership rights until control of the contract is transferred to you. Before control is transferred, only the applicant controller may exercise ownership rights on behalf of the Insured.

The Contract Owner may transfer ownership of the Contract, if the new owner is eligible under our Bylaws, or assign the Contract as collateral by giving Notice. Transfer of ownership will be effective as of the date you sign the Notice or, if the Notice is not dated, on the date the Notice is received at our Service Center.

Thrivent does not allow assignment of variable life insurance contracts to life settlement or viatical companies.

The Contract Owner may name one or more Beneficiaries to receive Death Proceeds. We restrict who may be named as a Beneficiary under your life insurance Contract. The named Beneficiaries must be eligible under our Bylaws. The Contract Owner will classify each Beneficiary as primary or contingent. Upon the Insured's death, we will pay the Death Proceeds to the Beneficiaries as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Proceeds will be paid to the primary Beneficiaries who are then alive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.If no primary Beneficiaries are living, proceeds will be paid to the surviving contingent Beneficiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.If no Beneficiary survives, proceeds will be paid to the Contract Owner or, if the Insured is the Contract Owner, to the Insured's estate.

Other designations or successions of Beneficiaries may be arranged with us. Any Beneficiary who dies simultaneously with the Insured or within 15 days after the Insured dies and before Death Proceeds have been paid will be deemed to have died before the Insured.

The Contract Owner may change the Beneficiary by giving Notice while the Insured is living. Notice must be received by the Service Center and approved before it will be effective. The effective date of the change will be the date the Owner signs the Notice or, if the Notice is not dated, the date it is received at our Service Center. We are not liable for any payment made or action taken by us before we receive Notice.

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**Transfers** 

While the Insured is alive and the Contract is in force, you may transfer the Accumulated Value among the Subaccounts and Fixed Account by submitting a proper Notice to our Service Center.

You may make twelve transfers per Contract Year without charge. There will be a charge of up to $25 for each transfer in excess of twelve excluding any automatic transfers from the DCA Money Market Subaccount. We consider all amounts transferred in the same Valuation Period to be one transfer for purposes of this charge. It is not dependent upon the number of originating or destination Subaccounts.

Only one transfer may be made from the Fixed Account in each Contract Year which, if made, counts toward the twelve allowable transfers. If the accumulated value in the Fixed Account immediately before the transfer is at least $2,000, the amount transferred may not exceed 25% of the accumulated value in the Fixed Account. Otherwise, the amount transferred may not exceed $500.

Any transfer among the Subaccounts or to the Fixed Account will result in the crediting and cancellation of Accumulation Units based on the Accumulation Unit Values. Calculations are made as of the end of the Valuation Period during which a proper transfer request is received. The minimum amount that may be transferred from a Subaccount or the Fixed Account is $50 or the entire Accumulated Value in that Subaccount or Fixed Account, if less.

**Frequent Transfers among** [**Variable Option**](#variableoptions_5f6c6529-6f1c-4fef-b442-ed23814b208d)**s** 

Frequent or unusual premium payments, withdrawals or transfers may dilute the value of the underlying fund shares if the trading takes advantage of any lag between a change in the value of an underlying fund's portfolio securities and the reflection of that change in the underlying fund's share price. In addition, frequent transactions may increase costs of the underlying fund, and may disrupt an underlying fund's portfolio management strategy, requiring it to maintain a relatively higher cash position and possibly resulting in lost opportunity costs and forced liquidations of securities held by the fund. We have policies and procedures to discourage frequent transactions. We use reasonable efforts to apply the policies and procedures uniformly.

As described in the Charges - Transfer Charge section, we impose a fee if transfers made within a given time period exceed a maximum contractual number. If we determine that you are engaging in excessive trading activity, we will request that you cease such activity immediately. If we determine that you are continuing to engage in excessive trading, we will restrict your Contract so that you can make transfers on only one business day each calendar month and any such transfers must be separated by at least 20 calendar days.

We also use a combination of monitoring Contract Owner activity and further restricting certain Contract Owner activity based on a history of frequent transactions. When monitoring Contract Owner activity, we may consider several factors to evaluate transaction activity including, but not limited to, the amount and frequency of premiums and withdrawals, the amount of time between transfers and trading patterns. In making this evaluation, we may consider transactions in multiple Contracts under common ownership or control.

We may also, without prior notice, limit, modify, restrict, suspend, or eliminate your right to continue frequent transactions. We monitor for frequent activity based upon established parameters that are applied consistently to all Contract Owners. Such parameters may include, without limitation, the length of the holding period between premium payments and withdrawals, the length of the holding period between Subaccount transfers, the number of transfers in a specified period, the dollar amount of transfers, and/or any combination of the foregoing. Exceptions may apply to Dollar Cost Averaging, automatic investment plans, systematic withdrawal plans or non-abusive re-balancing. We reserve the right, in our sole discretion, to identify other trading practices as abusive.

Although we seek to deter and prevent frequent trading practices, there are no guarantees that all activity can be detected or prevented. Contract Owners engaging in such trading practices use an evolving variety of strategies to avoid detection and it may not be possible for operational and technological systems to reasonably identify all frequent trading activity. Contract Owners still may be subject to their harmful effects if Thrivent is unable to detect and deter abusive trading practices.

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We may revise our policies and procedures in our sole discretion, at any time and without prior notice, as we deem necessary or appropriate to better detect and deter harmful trading activity, or to comply with state or federal regulatory requirements, or to impose additional or alternative restrictions on Contract Owners engaging in frequent transfers. In addition, our orders to purchase shares of the funds are generally subject to acceptance by the fund, and in some cases a fund may reject or reverse our purchase order. Therefore, we reserve the right to reject any Contract Owners' transfer request if our order to purchase shares of the Fund is not accepted by, or is reversed by, an applicable fund.

**Addition, Deletion, Combination, or Substitution of Investments**

Where permitted by applicable law and business need, we reserve the right to make certain changes to the structure and operation of the Variable Account, including, among others, the right to:

♦

Remove, combine, or add Subaccounts and make the new Subaccounts available to you at our discretion;

♦

Substitute shares of another Portfolio, which may have differences such as (among other things) different fees and expenses, objectives, and risks, for shares of an existing Portfolio in which your Subaccount invests at our discretion;

♦

Substitute or close Subaccounts to allocations of premiums or accumulated value, or both, and to existing investments or the investment of future premiums, or both, at any time in our discretion;

♦

Transfer assets supporting the Contract from one Subaccount to another or from the Variable Account to another Variable Account;

♦

Combine the Variable Account with other variable accounts, and/or create new variable accounts;

♦

Deregister the Variable Account under the 1940 Act, or operate the Variable Account as a management investment company under the 1940 Act, or as any other form permitted by law; and

♦

Modify the provisions of the Contract to reflect changes to the Subaccounts and the Variable Account and to comply with applicable law.

The Portfolios, which sell their shares to the Subaccounts, also may terminate these arrangements and discontinue offering their shares to the Subaccounts. We will not make any changes without receiving any necessary approval of the SEC and applicable state insurance departments. We will notify you of any changes.

Income, gains and losses, whether or not realized, from the assets in each Subaccount are credited to or charged against that Subaccount without regard to any of our other income, gains or losses. The value of the assets in the Variable Account is determined at the end of each Valuation Date.

If investment in the Fund or in any particular Portfolio is no longer possible, in our judgment it becomes inappropriate for the purposes of the Contract, or for any other reason in our sole discretion, we may close or combine any of the current Portfolios. We may close a Portfolio to new investment but continue to allow current investors to add additional premium payments, or we may combine the Portfolio with another Portfolio. The substituted investment option may have different fees and expenses. We will not make any substitutions without receiving any necessary approval of the SEC and state insurance departments, if applicable. You will be notified of any substitutions. This notification will include the name of the Portfolio being modified, the approximate date of the shareholder vote, the date any combination will be completed (if approved and if applicable), the date that the Portfolio will be closed to new investment selections, the date that funds can no longer be applied to the Portfolio and the description of where the current value will move to (if applicable) and where future premium payments (if any) will be applied. Subaccounts may be opened, closed or substituted with regard to any of the following as of any specified date: 1) existing accumulated value; 2) future payments; and 3) existing and/or future Contract Owners. The Fund sells its shares to the Subaccounts pursuant to a participation agreement and may terminate the agreement and discontinue offering its shares to the Subaccounts.

In addition, we reserve the right to make other structural and operational changes affecting the Variable Account.

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**We do not guarantee any money you place in the Subaccounts. The value of each Subaccount will increase or decrease, depending on the investment performance of the corresponding Portfolio and fees and charges under the Contract. You could lose some or all of your money.**

**Dollar Cost Averaging**

Your Contract provides a Dollar Cost Averaging program that allows you to have automatic periodic transfers made to one or more Subaccounts. Dollar Cost Averaging is generally suitable if you are making a substantial deposit to your Contract and desire to control the risk of investing at the top of a market cycle. Dollar Cost Averaging programs allow such investments to be made in equal installments over time in an effort to reduce such risk. Dollar Cost Averaging does not guarantee that your Contract's Accumulated Value will gain in value, nor will it protect against a decline in value if market prices fall. However, it can be an effective strategy to help meet your long-term goals. Dollar Cost Averaging does not allow you to make automatic transfers to the Fixed Account. You may participate in a Dollar Cost Averaging program by giving Notice.

**Money Market Dollar Cost Averaging**

You may establish a Dollar Cost Averaging program to make periodic transfers of at least $50 from the Money Market Subaccount to one or more other Subaccounts. Transfers will be made automatically on the date you select (except the 29th, 30th, or 31st of a month). Transfers will continue until the entire amount in the Thrivent Money Market Subaccount has been depleted or until we receive Notice from you to discontinue the program, whichever is sooner. If the amount remaining in the Thrivent Money Market Subaccount drops below the amount you established to be transferred, the entire remaining balance will be transferred on the next transfer date and the Money Market Dollar Cost Averaging program will be discontinued. If the program is discontinued and you want systematic transfers to resume from the Money Market Subaccount, you must provide us Notice and assure adequate funding in the Money Market Subaccount.

**Automatic Asset Rebalancing Program** 

As the value of your Subaccounts changes, the distribution of Accumulated Value among those Subaccounts also changes. The Automatic Asset Rebalancing program transfers your Contract's value among the variable investment options (this excludes the Fixed Accounts). You may elect to automatically rebalance your Accumulated Value in the Subaccounts periodically under the Automatic Asset Rebalancing program according to the percentage allocation you determine at the time of setting up this program.

Automatic Asset Rebalancing may be set up annually or semi-annually to begin on the date you select (except the 29th, 30th or 31st). Before you begin the program, you should determine your investment goals and risk tolerance. Use of this program will not ensure any gain nor protect against any loss in overall Accumulated Value.

You can elect to participate in the program at the time of Application or at a later time. To elect to participate in the program after Application, we must receive Notice at our Service Center from you. This request will override any previous allocations you may have selected. Rebalancing continues until you stop or change it. You can change your allocations at any time by giving us Notice. You can also stop or suspend the program by providing Notice to our Service Center. If you make additional premium payments or transfers into a Subaccount that was not previously included in the asset rebalancing program, those amounts will not be subject to rebalancing unless you revise your asset rebalancing program. Periodic rebalancing takes into account increases and decreases in accumulated values in each Subaccount. Any transfers resulting from rebalancing will not incur a transfer charge.

**General Account** 

The General Account consists of all assets owned by Thrivent other than those segregated in any variable account. Subject to applicable law, we have sole discretion over the investment of the General Account assets. You do not share directly in the investment returns of those assets. The Fixed Accounts are part of our General Account. We will declare effective annual interest rates for the Fixed Accounts. We guarantee that the effective annual interest rate will never be less than 3.0%. At our discretion, we may credit interest at a rate in excess of this guarantee. The Fixed Accounts have not been registered under the Securities Act of 1933 (1933 Act), and the Fixed Accounts have not been registered as an

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investment company under the Investment Company Act of 1940 (1940 Act). Accordingly, neither the Fixed Accounts nor any interests therein are generally subject to the provisions of the 1933 or 1940 Acts. Disclosures regarding the Fixed Accounts, however, may be subject to certain generally applicable provisions of the federal securities laws relating to the accuracy and completeness of statements in prospectuses.

**Termination**

Your Contract will terminate if the Insured dies, if you surrender the Contract, if you exercise the right to a full payout under the accelerated death benefit rider, if a premium required to keep the Contract in force has not been paid by the end of the grace period or due to an excess loan.

**State Variations** 

Any state variations in the Contract are covered in a special Contract form for use in that state and all material state variations are described in this prospectus. If you would like to review a specimen copy of the Contract and Additional Benefits, contact our Service Center.

Premiums

**Flexible Premiums**

This Contract is a flexible premium contract. Premiums may be paid at any time and in any amount, subject to some restrictions. All premium payments must be in U.S. dollars drawn on a U.S. bank. Generally, we do not accept cash, starter checks (checks without pre-printed registration), traveler's checks, credit card courtesy checks, most third-party checks or other types of payments defined as not acceptable in our standard procedures. There are no scheduled premium due dates. However, we have the ability to assist you by scheduling planned periodic premiums. Planned periodic premiums are premiums you elect to pay on a regular basis. We will send you billing statements for an amount you select. You may select quarterly, semi-annual or annual statements. You may also elect to make pre-authorized automatic premium payments using our electronic payment program. In most cases, you may make changes in frequency and payment amounts at any time with adequate notice.

You are responsible for monitoring and managing the amount of premiums you choose to pay and how those premiums are allocated to Subaccounts and the Fixed Account to help assure the Contract meets your needs. We recommend that you pay at least a Death Benefit Guarantee Premium to protect your Contract from lapsing. Paying this minimum premium amount ensures that your Contract will not lapse in the event the Cash Surrender Value is not sufficient to pay the monthly deductions. See *Death Benefit Guarantee*. In certain circumstances, a premium payment may cause the Contract to be characterized as a MEC. *See Taxes*. You should discuss the amount, frequency and allocation of your premiums with your financial advisor or professional.

**Premium in Default and Grace Period**

Unless a Death Benefit Guarantee is in effect, a premium is in default on a Monthly Anniversary if a monthly deduction to be made on that date would result in a Cash Surrender Value less than zero. You will be given 61 days from the date notice is mailed to you (in most states) to pay the required premium in order to avoid lapse. In addition, the Contract will lapse whenever the Contract Debt exceeds the Accumulated Value and 61 days have elapsed since we mailed notice to you. We will notify you of the premium required to keep the Contract in force. The amount indicated in the notice will be based on the Valuation Date on which the notice is produced. The amount needed to prevent the Contract from lapsing may increase or decrease daily based on fluctuations in the Subaccounts you selected.

You should discuss the amount of premium to be paid with your financial advisor or professional. The Contract will continue in force through the grace period.

If the Insured dies during the grace period, the Death Proceeds payable will be reduced by the amount of the monthly deductions due and unpaid, and the amount of any outstanding Contract Debt.

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**Net Premiums & Premium Allocation**

We deduct from each premium, including the initial premium, a Percent of Premium Charge of 5% for sales expenses. The remainder of the premium is the "Net Premium." The Percent of Premium Charge may not be deducted in certain situations. Net Premiums are the amounts we direct to the various Subaccounts and/or Fixed Account according to your allocation instructions.

We will allocate your Net Premium according to the allocation instructions on your application or most recent allocation instructions on file. Your allocation must be in whole percentages and total 100%. If the allocation request is not completed, is not in whole percentages, or does not total 100%, then the request will be treated as not in Good Order. We will process the allocation request when it is in Good Order. You may change your allocation percentages for future payments at any time by giving us Notice.

If we receive your premium before the close of regular trading on the New York Stock Exchange (NYSE) (usually 4:00 p.m. Eastern Time, the time we determine the value of the Accumulation Units) on a Valuation Date, allocation occurs at the end of the day in which we receive your payment. If we receive your premium on a non-Valuation Date or after the NYSE closes, the allocation occurs as of the end of the next Valuation Date.

**Electronic Payment Program**

Our electronic payment program allows you to make premium payments (or loan repayments) to your Contract on a regularly scheduled basis by having money automatically withdrawn from your checking or savings account, or other applicable payment source, rather than being billed. Under this plan, we draw from your account on the date you select and we will allocate premiums to the Subaccount(s) or Fixed Account according to your instructions. However, if the purchase date you have chosen falls on a weekend (or holiday) in any given month, we will treat your order as being received by us on the next Valuation Date. To set up the electronic payment program you may complete the applicable section on the application or, after the time of application, by giving us Notice. You should discuss the amount of premium to be withdrawn with your financial advisor or professional. The amount of premium withdrawn may not be enough to keep the contract in force.

**Premium Limits** 

IRS rules govern the tax treatment of life insurance contracts. We have the right to limit or refund a premium payment or make distributions from the Contract as necessary to continue to qualify the Contract as life insurance under federal tax law or to avoid the classification of your Contract as a MEC. If mandated under applicable law, we may be required to reject a premium payment.

In addition to excluding life insurance Death Benefits from the Beneficiary's gross income, the Internal Revenue Code of 1986, as amended (the "Code") also defers taxation on the income portion of the Accumulated Value, prior to receipt by the Contract Owner. To qualify for this treatment, federal tax law may limit the premiums you may pay and requires that the Accumulated Value be limited to a certain percentage of the Death Benefit. We will return the portion of any premium payment that causes the limit on premiums to be exceeded, unless the premium is required to keep the Contract in force.

We reserve the right to not accept premiums when the Death Benefit is based on the Table of Factors in your Contract, or to refuse to accept any premium that would increase the Death Benefit to comply with the requirements of the Code.

Additional premium limits will apply for contracts subject to the guideline premium test. In the event of a reduction in the Face Amount, or other changes to the Contract which cause the premiums paid or the Accumulated Value to exceed the applicable limit described in the Code regarding the definition of life insurance, we will refund any excess premiums and earnings thereon (and other Accumulated Value) as necessary to comply with the limit described in the Code, and in limited circumstances we may increase the Death Benefit. At Attained Age 100 and later (except on New York issued Contracts), we reserve the right to not accept premiums as described above.

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Your Contract could be classified as a MEC if premiums paid exceed certain dollar thresholds or if certain transactions are processed. Except as described below, we will apply only the portion of the premium payment(s) (including electronic payments) that will not cause the Contract to become a MEC and will return the balance to the premium payer without applying it to the Contract. The portion of the payment that is applied to the Contract will be credited as of the Valuation Date the payment was determined to be in Good Order. The premium refund to prevent MEC status may, in some situations, result in loss of the Death Benefit Guarantee (if applicable) on the Contract. Additionally, except as described below, a request for any transaction (such as a reduction in Face Amount) that would immediately cause the Contract to become a MEC will be deemed not in Good Order. We will notify you if a requested transaction would immediately cause your Contract to become a MEC and will not process that transaction unless and until we have received your instruction to proceed and allow MEC status.

The following exceptions apply to this MEC process:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. If the start of the next MEC Contract Year is within 30 calendar days of the date the premium is received, and allocating all or a portion of the payment on the first day of the next MEC Contract Year will not cause the Contract to become a MEC, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. upon receipt we will allocate, as described above, only the portion of the premium payment that will not cause the Contract to become a MEC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. we will wait to allocate the balance of the payment that can be applied without causing your Contract to become a MEC on the first day of the next MEC Contract Year or if the first day of the next MEC Contract Year is not a Valuation Date, then the payment will be allocated as of the next following Valuation Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. we will return to the premium payer, without allocating it to the Contract, any remaining balance that, as of the first day of the next MEC Contract Year, still would have caused the Contract to become a MEC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. no interest will be paid to you or the premium payer from the date of receipt of the premium payment to the date it is either allocated to your Contract or returned to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. If the amount of the premium payment that can be applied to your Contract is less than $1.00, then the payment will be refunded or held according to these processes. A payment in an amount less than $1.00 will not be applied to your Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. You may also provide instructions directing us to allocate any specific premium payment and/or process any specific transaction even if MEC status will result. Those instructions must indicate that you consent to your Contract being treated as a MEC. You should consult with your tax advisor before doing so. Those instructions must be received with the applicable premium payment or transaction request that will result in MEC status. We do not allow advance elections for future premium payments or future transactions that may result in MEC status on your Contract.

For more information on MECs, see *Taxes*.

**Death Benefit Guarantee**

A Death Benefit Guarantee ensures that your coverage will continue even if the Cash Surrender Value is insufficient to pay the current monthly deductions. However, the guarantee is contingent upon timely payment of a minimum premium amount known as the Death Benefit Guarantee Premium.

The Death Benefit Guarantee Premium is the minimum monthly premium required to keep your Death Benefit Guarantee in effect. We show your particular Death Benefit Guarantee Premiums in your Contract. The Death Benefit Guarantee Premium is calculated specifically for each Contract on the Date of Issue. The Death Benefit Guarantee will vary by Issue Age, sex, Face Amount, Death Benefit Option, risk class and substandard ratings. The charges in the calculation include:

♦

the cost of insurance;

♦

the monthly administrative charge of $9 ($7.50 for Insureds Issue Age 17 and under);

♦

the percent of premium charge; and

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♦

the charge for each additional benefit you choose.

Under the Contract, two Death Benefit Guarantees were generally available depending on the amount of your initial premium and Issue Age: the basic and the enhanced Death Benefit Guarantee. The basic Death Benefit Guarantee has expired on all Contracts. The enhanced Death Benefit Guarantee was available to you if the Insured's Issue Age was less than 70 and if you provided an initial premium payment that was at least the enhanced Death Benefit Guarantee Premium. Generally, the enhanced Death Benefit Guarantee provides a longer level of guarantee than the basic. The type of guarantee, the amount of the Death Benefit Guarantee Premium amount and termination date for the guarantee are shown on the schedule page of your Contract. The Enhanced Death Benefit Guarantee terminates no later than the Contract Anniversary on or next after the Insured's 75th birthday

Each month, we will determine if a Death Benefit Guarantee remains in effect. A Death Benefit Guarantee will remain in effect if, on each Monthly Deduction Date, the sum of all premiums paid and credited less any partial surrenders and loan amounts is greater than or equal to the sum of Death Benefit Guarantee Premiums for that guarantee since the Contract's Date of Issue. If the Contract includes a disability waiver of monthly deduction benefit, the Death Benefit Guarantee Premium will not be added to this sum on any monthly anniversary on which we waive or credit the monthly deduction under that rider.

If this requirement is not met, we will notify you that an insufficiency has occurred. We will allow you 61 days to pay sufficient premiums or loan repayments to satisfy the Death Benefit Guarantee. If you do not pay the required premium, the Death Benefit Guarantee will expire and we will not reinstate it (in most states). However, this does not necessarily terminate your Contract. See *Contract Lapse and Reinstatement.* 

If you change your Face Amount or riders, we will correspondingly change the Death Benefit Guarantee Premium. Any new Death Benefit Guarantee Premium applies from the effective date of the change.

Please note that the Death Benefit Guarantee will terminate automatically as determined by the type of Death Benefit Guarantee (described above). The termination date of the guarantee is listed on the schedule page of your Contract. After termination, the insurance coverage provided by the Contract will remain in force as long as your Cash Surrender Value is large enough to pay monthly deductions. See *Contract Lapse and Reinstatement*.

**Accumulated Value**

On the Contract Date, the Accumulated Value is the first Net Premium less any monthly deductions. After the Contract Date, Accumulated Value is equal to the sum of the accumulated values in the Contract's Subaccounts, Fixed Account and Loan Account and may change daily.

The Accumulated Value of your Contract, at any one time, is determined by: multiplying the total number of Accumulation Units for each Subaccount by its appropriate current Accumulation Unit Value; adding together the resulting values of each Subaccount; and adding any accumulated value in the Fixed Account and the Loan Account.

While loans are not deducted from Accumulated Value, loans do reduce the amount you would receive upon surrender of your Contract and the amount available to pay charges. Loans do not share in the investment performance of the Subaccounts and accrue interest charges which may result in less Accumulated Value in your Contract than if the amounts were allocated to the Fixed Account.

Over the life of your Contract, many factors determine its Accumulated Value. They include:

♦

premiums paid;

♦

the investment experience of the Subaccounts;

♦

interest credited to the Fixed Account, and Loan Account;

♦

loans taken and loan repayments;

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♦

interest charged for any loans taken;

♦

partial surrenders taken; and

♦

charges and deductions taken.

Because a Contract's Accumulated Value is based on the variables listed above, it cannot be predetermined. Accumulated value in the Subaccounts will largely be determined by market conditions and investment experience of the underlying Portfolios. The Owner will bear all such risk.

**Fixed Account**

The Fixed Account accumulated value reflects Net Premiums allocated to the Fixed Account, transfers of accumulated value to or from the Subaccounts and/or Loan Account, interest credited, partial surrenders and any deductions. Each day the accumulated value in the Fixed Account will change based upon these factors. For the current interest rate, please call our Service Center at 1-800-847-4836. Review your Contract for further detail.

**Loan Account**

You establish the Loan Account when you take out a loan. The amount used to secure the loan is transferred to the Loan Account. The Loan Account is affected by repayments, additional loans and interest credited to and charged against it. Each day the accumulated value in the Loan Account will change based on these factors.

The number of Accumulation Units in any Subaccount may increase or decrease at the end of each Valuation Period. This fluctuation depends on the transactions that occur in the Subaccount during the Valuation Period. When transactions occur, the actual dollar amounts of the transactions are converted to Accumulation Units. The number of Accumulation Units is determined by dividing the dollar amount of the transaction by the Accumulation Unit Value of the Subaccount at the end of the Valuation Period during which the transaction occurs.

**Variable Account** 

*Number of Accumulation Units*

The number of Accumulation Units in any Subaccount may increase or decrease at the end of each Valuation Period. This fluctuation depends on the transactions that occur in the Subaccount during the Valuation Period. When transactions occur, the actual dollar amounts of the transactions are converted to Accumulation Units. The number of Accumulation Units is determined by dividing the dollar amount of the transaction by the Accumulation Unit Value of the Subaccount at the end of the Valuation Period during which the transaction occurs.

The number of Accumulation Units in a Subaccount increases when the following transactions occur during the Valuation Period:

♦

Net Premiums are allocated to the Subaccount; or

♦

Accumulated Value is transferred to the Subaccount from another Subaccount or from the Fixed Account; or

♦

Debt is repaid.

The number of Accumulation Units in a Subaccount decreases when the following transactions occur during the Valuation Period:

♦

Accumulated value is transferred from the Subaccount to another Subaccount or to the Fixed Account, including loan transfers;

♦

surrenders, partial surrenders and Decrease Charges that are not the result of a partial surrender are taken from the Subaccount;

♦

monthly deductions or transfer charges are taken from the Subaccount; or

♦

Contract loans or accrued interest on loans are transferred from the Subaccount to the Loan Account.

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*Accumulation Unit Value*

For each Subaccount, the initial Accumulation Unit Value was set when the Subaccount was established. The Accumulation Unit Value may increase or decrease from one Valuation Period to the next.

The Accumulation Unit Value for a Subaccount for any Valuation Period is equal to:

♦

the net asset value of the corresponding Portfolio at the end of the Valuation Period;

♦

plus the amount of any dividend, capital gain or other distribution made by the Portfolio if the "ex-dividend" date occurs during the Valuation Period;

♦

plus or minus any cumulative credit or charge for taxes reserved which we determine has resulted from the operation of the Portfolio;

♦

divided by the total number of Accumulation Units held in the Subaccount at the end of the Valuation Period before any of the transactions, referred to in the *Number of Accumulation Units* subsection, have occurred.

**Cash Surrender Value**

The Cash Surrender Value is the total amount you will receive upon surrender of the Contract. It is equal to the Accumulated Value less any Decrease Charges and any outstanding Debt and any deferred monthly deductions. The Cash Surrender Value changes daily, reflecting, among other things, increases and decreases in the value of the Portfolios in which the assets of the Subaccounts are invested and interest credited in the Fixed Account and Loan Account, and any interest charged against the Loan Account. It is possible for the Cash Surrender Value of your Contract to decline to zero because of unfavorable investment performance or outstanding Debt or insufficient premium payments.

You will be advised as to the number of Accumulation Units which are credited to the Contract, the current Accumulation Unit Values, Subaccount accumulated value, Fixed Account accumulated value, and Loan Account accumulated value, the total Accumulated Value and the Cash Surrender Value at least annually.

**Timely Processing** 

We will process all requests in a timely fashion. Requests received in Good Order by us or our authorized designee prior to 4:00 p.m. Eastern Time (or sooner if the NYSE closes prior to 4:00 p.m. Eastern Time) on a Valuation Date will use the Accumulation Unit Value as of the close of regular trading on the NYSE on that Valuation Date. We will process requests received after that time using the Accumulation Unit Value as of the close of regular trading on the NYSE of the following Valuation Date. An online transaction payment will be applied on the effective date you select. This date can be the same day you perform the transaction as long as the request is received prior to 4:00 p.m. Eastern Time. The effective date cannot be a date prior to the date of the online transaction.

Once we issue your Contract, we will process payment of any amount due from any Subaccount within seven calendar days after we receive Notice. Payment may be postponed if the NYSE is closed. Postponement may also result for such other periods as the SEC may permit. Payment from the Fixed Accounts may be deferred up to six months.

Standard Death Benefits

The primary reason to buy a life insurance Contract is for the Death Benefit it provides in the event of the Insured's death. At the time of purchase, you must select between two Death Benefit Options: Option 1 (Level Death Benefit Option) or Option 2 (Variable Death Benefit Option). We determine the amount payable (Death Proceeds) depending on the Death Benefit Option in effect on the date of Insured's death. Death Proceeds payable upon the death of the Insured is the sum of the Death Benefit plus any insurance on the Insured's life provided by Additional Benefits less any Debt and the lesser of (1) unpaid monthly deductions or (2) any unpaid No-Lapse Guarantee Premium. We will also deduct any amount paid by us after the date of death and before we were notified of the death. The Death Benefit will be calculated as of the date of death.

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**Option 1 (Level Death Benefit Option)**

The Death Benefit for this option remains level, but in limited situations will vary. Prior to age 100, the Death Benefit is the greater of the Face Amount, or the death benefit factor multiplied by Accumulated Value. If you keep your Contract in force for several years and your Accumulated Value continues to increase, your Death Benefit may be increased by a death benefit factor. This factor helps to ensure that your Death Benefit is large enough to qualify as life insurance under federal tax law. The death benefit factor depends upon your Attained Age. Your Contract includes a Table of Factors. On or after age 100, the Death Benefit equals the Accumulated Value.

You should consider the Level Death Benefit Option if:

♦

you do not expect your insurance needs to generally increase; or

♦

you would like to minimize your insurance costs.

In general, the Level Death Benefit Option provides greater growth potential in Accumulated Value than the Variable Death Benefit Option. By choosing the Level Death Benefit Option, any increases in Accumulated Value reduce the actual risk amount and lower your cost of insurance.

**Option 2 (Variable Death Benefit Option)**

The Variable Death Benefit Option provides a Death Benefit that varies over time. Prior to age 100, the Death Benefit will be the greater of the Face Amount plus Accumulated Value, or the death benefit factor (described above) multiplied by Accumulated Value. The Death Benefit fluctuates correspondingly with your Accumulated Value. On or after age 100, the Death Benefit equals the Accumulated Value.

You should consider the Variable Death Benefit Option if:

♦

you expect your insurance needs to increase, or

♦

you would like to have the potential for an increasing death benefit.

In general, the variable option provides the potential for a greater death benefit than the level option.

**Changing Your Death Benefit Option**

You may ask to change your Death Benefit Option at any time before Attained Age 100. If we approve the change we will increase or decrease the Face Amount so your death benefit immediately after the change will be the same as immediately before the change.

If you change from the Level Death Benefit Option to the Variable Death Benefit Option, we will reduce your Face Amount by the amount of Accumulated Value on the date the change takes place. The decrease in Face Amount and any Decrease Charge will be applied to the most recent increase in Face Amount first, then to the next most recent increase(s) and finally to the initial Face Amount. We will not allow the change if it reduces your Face Amount below the minimum amount as defined on the schedule page of your Contract. If you change from the Variable Death Benefit Option to the Level Death Benefit Option, your Face Amount increases. The increase is determined so your death benefit immediately after the change will be the same as immediately before the change.

There may be tax consequences when you change your Death Benefit Option. Please consult your tax advisor before making any such change.

**Changing Your Face Amount**

You select the Face Amount when you apply for the Contract. You may change the Face Amount by giving us Notice. We will not permit any change that would result in your Contract being disqualified as a life insurance contract under Section 7702 of the Code and we will process a partial withdrawal to force out any premiums which exceed the maximum premium limitations after the change and that money will be refunded to you. Changing the Face Amount may have tax consequences and you should consult a tax advisor before doing so.

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**Increasing Your Face Amount**

Subject to our underwriting guidelines and policies, you have the right to increase the Face Amount at any time on or before the Insured's 80th birthday.

Any increase in Face Amount is subject to the following conditions:

♦

We must receive a written application at our Service Center.

♦

We require evidence of insurability which meets our standards.

♦

The increase amount must be for at least $25,000.

♦

The Cash Surrender Value must be sufficient to cover the monthly deduction on the effective date of the increase.

Increases in your Face Amount will result in additional charges to cover the increased amount at risk. We compute charges at the existing rates at the time of increase. The cost of insurance rates for each increase will vary based on factors such as sex (in most states), risk class, age and the time elapsed since issue. The increase will be effective on the date shown on the supplemental Contract schedule page we provide.

A new set of Decrease Charges will also apply to each increase in the Face Amount. We show these new charges on the supplemental Contract schedule page of your Contract. However, the Decrease Charges will only be assessed if your Face Amount is later decreased and the Decrease Charge is still in effect for that part of the Face Amount that was decreased. See *Charges* for additional information regarding this charge.

The two-year contestability provision will apply again with respect to each application for an increase in Face Amount,

**Decreasing Your Face Amount**

At any time before the Insured's Attained Age 100, you have the right to decrease your Face Amount. Requirements for decreasing your Face Amount are:

♦

we must receive Notice at our Service Center;

♦

the Face Amount remaining in effect cannot be less than the minimum amount defined at issue on the schedule page; and

♦

premiums and Accumulated Value must be in compliance with the Code limits.

The decrease will become effective as of the Monthly Deduction Date on or following the date we receive the request at the Service Center. We will subtract the decrease first from any previous increases in the Face Amount, starting with the most recent, then as needed from the original Face Amount.

We subtract a Decrease Charge from the Accumulated Value if a Decrease Charge is in effect for that part of the Face Amount decreased. We show you the Decrease Charges applicable to you on the *Table of Decrease Charges* in your Contract.

A decrease in your Face Amount may cause your Contract to be classified as a MEC and could have other tax consequences. Please consult your tax advisor before decreasing your Face Amount. See *Taxes*.

**Death Claims**

In the event of the death of the Insured, we must receive Notice of death at our Service Center. We will provide a claim form upon receiving the Notice. A financial advisor or professional may assist in making such a claim.

**Payment of Benefits**

In addition to traditional lump sum payments, other payment options are available. All or part of the life insurance proceeds from death or surrender may be placed in one of several settlement options. Proceeds distributed according to a settlement option do not vary with the investment performance of the Variable Account. Contract Owners may select or

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change a settlement option prior to, or after, the Insured's death. If you are the Contract Owner and the Insured, your Beneficiary may choose a settlement option at the time of making a claim for death benefits. If no settlement option is selected, we will pay the proceeds in the form of a lump sum payment. The minimum amount that we will apply to a settlement option is $2,000. Additionally, the resulting payment must be at least $50. Once the Beneficiary chooses a settlement option, we will provide a settlement option agreement. In the settlement option agreement, we will reflect guaranteed payments, if any.

**Settlement Options** 

**Option 1: Interest**

Under this settlement option, the proceeds are left with Thrivent to accumulate interest. We will pay a rate of interest of at least 3% annually on the proceeds that remain with us. The payee may withdraw all or part of the proceeds at any time.

**Option 2: A Selected Amount of Income**

With this settlement option the payee elects to receive a fixed amount at regular intervals until the proceeds with interest have all been paid. The payment period may not exceed 30 years. Interest accumulates on the amount that remains with us until the proceeds are all paid out. For example, if your Beneficiary elected to receive $10,000, paid annually, we would pay $10,000 annually until we pay out all of the remaining proceeds. The final payment may be smaller than prior payments.

We will pay a rate of interest of at least 3% annually. The amount of interest may be greater than the guaranteed amount. Unless the income election was irrevocable, the payee may withdraw the Commuted Value of all remaining payments at any time. If the Commuted Value is withdrawn, we will make no further payments.

**Option 3: A Specified Period**

This option provides payments at regular intervals. The payee may elect a specified number of months or years but may not select a period exceeding the greater of 30 years or the payee's life expectancy.

We will pay a rate of interest of at least 3% annually on the proceeds that remain with us. The amount of interest we pay may be greater than the guaranteed amount. Unless the income election was irrevocable, the payee may withdraw the Commuted Value of any remaining payments at any time. If the Commuted Value is withdrawn, we will make no further payments.

**Option 4: Life Payment**

This settlement option is a form of annuity payment that continues until the annuitant's death. The payee is the person receiving the income. We make payments to the payee at regular intervals during the annuitant's life. Upon electing this option, the payee also selects a guaranteed period of not more than 360 months or selects no guaranteed period at all. If the annuitant dies during the guaranteed payment period, payments will continue to a Beneficiary named for the settlement option until the guaranteed payment period expires. The longer the guaranteed payment period, the lower the amount of regular payment. In other words, the payment amount the payee receives would be higher if the payee chose no guaranteed payment period. However, the risk the payee takes is that he or she may die shortly after we issue the settlement agreement. The agreement would then terminate and all payments would cease.

The amount of the payments depends on the age and, where permitted, sex of the annuitant at the time the settlement agreement is established. We show representative guaranteed payments in the settlement option section of the Contract. These rates are based on a guaranteed effective annual interest rate of 3% using the "Annuity 2000 Table" annuitant mortality table.

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**Option 5: Joint & Survivor**

This settlement option is another form of annuity payment or life income available when both annuitants are alive when the settlement option is chosen. We will pay an income as long as at least one of the two annuitants is alive. The amount of payments is determined based on the lives of both of the annuitants. The payees may select a guaranteed payment period of not more than 360 months or may select no guaranteed payment period at all.

Upon the death of one of the persons named to receive payments, we will continue to make payments of the same amount to the survivor for the remainder of the guaranteed payment period. At the end of this period, if the survivor is still living, the payments may be reduced if a reduction factor was chosen at issue. We pay the reduced amount until the survivor annuitant's death. If the survivor also dies during the guaranteed payment period, the remaining guaranteed payments continue to a designated Beneficiary. The Beneficiary has an option to take a lump sum payment. If no guaranteed payment period was selected, all payments will cease and the agreement terminates.

The amount of the payments depends on the age and, where permitted, sex of the annuitants at the time we issue the settlement agreement. In addition, any selection of a guaranteed payment period or any reduction factor will influence the payments. We show representative guaranteed payments in the settlement option section of the Contract. These rates are based on a guaranteed effective annual interest rate of 3% using the "Annuity 2000 Table" annuitant mortality table.

We may also offer other settlement options at our discretion.

**Abandoned Property Requirements** 

Every state has unclaimed property laws which generally declare insurance contracts to be abandoned after a period of inactivity. This period of inactivity is generally defined by states as three to five years from the Contract's maturity date, the date the Death Benefit is due and payable, or in some states, the date the insurer learns of the death of the Insured. For example, if the payment of the Death Benefit has been triggered, but, if after a thorough search and the passing of the state defined period of inactivity, we are still unable to locate the Beneficiary, or if the Beneficiary does not come forward to claim the Death Benefit proceeds, the Death Benefit proceeds will be paid to the abandoned property division or unclaimed property office of the state in which the Beneficiary or you last resided, as shown on our books and records, or to our state of domicile. This "escheatment" is revocable, however, and the state is obligated to pay the Death Benefit proceeds if your Beneficiary steps forward to claim them with the proper documentation. To prevent such escheatment, it is important that you update your Beneficiary designations, including addresses, if and as they change. Please contact your financial advisor or professional or call (800) 847-4836 for assistance in making such changes.

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Other Benefits Available Under the Contract

**In addition to the standard death benefits associated with your Contract, other standard and/or optional benefits may also be available to you. The following table summarizes information about those benefits. Information about the fees associated with each benefit included in the table may be found in the Fee Table.** 

---

| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is Benefit**<br> **Standard or**<br> **Optional**<br>| **Brief Description of**<br> **Restrictions/Limitations**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Accidental Death <br> Benefit<br>| Provides an additional death benefit when the <br> Insured dies from accidental bodily injury.<br>| Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Amount of coverage is subject <br> to limits.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Cost of Living <br> Adjustment Benefit<br>| Annually adjusts the Face Amount of the <br> Contract and, if elected, your premium <br> payments to keep pace with the Consumers' <br> Price Index.<br>| Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ As a result of increasing the <br> Face Amount, monthly <br> deductions will increase.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Guaranteed Increase <br> Option Benefit<br>| Allows you to increase the amount of coverage <br> without having to show evidence of insurability <br> at certain pre-defined opportunities.<br>| Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Only available at issue for <br> ages 0-37.<br> ♦ Terminates at age 43.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Disability Waiver of <br> Monthly Deductions<br>| In the event of the Insured's qualifying disability <br> before age 60, we will waive your cost of <br> insurance and other monthly deductions until <br> the earlier of the Insured's age 121 or recovery <br> from total disability.<br>| Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Can be issued at ages 0-60.<br> ♦ Terminates at age 65, or the <br> end of a benefit period, if <br> later.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Disability Waiver of <br> Selected Amount<br>| In the event of the Insured's qualifying disability, <br> this benefit will ensure that your planned <br> premiums continue during the Insured's <br> disability until the earlier of age 121 or recovery <br> from total disability.<br>| Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Can be issued at ages 0 – 60.<br> ♦ Terminates at age 65, or the <br> end of a benefit period, if <br> later.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Child Term Life <br> Insurance<br>| Generally pays a benefit to the Beneficiary in <br> the event of the death of a covered child of the <br> Insured prior to the rider anniversary following <br> the child's 25<sup>th</sup> birthday.<br>| Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Available for issue for children <br> up to age 18.<br>|
| Term Life Insurance | Provides additional term life insurance. | Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Available for Issue Ages 18 to <br> 65.<br> ♦ Terminates after 30 years.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Spouse Term Life <br> Insurance<br>| Provides term life insurance for spouse of the <br> Insured.<br>| Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Terms are available on the life <br> of the spouse of the Insured <br> for 10, 20, or 30 years.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Applicant Waiver of <br> Selected Amount<br>| This benefit enables the applicant on a Contract <br> on the life of a minor to have selected amounts <br> credited to the Contract in the event of the <br> applicant's qualifying disability or death.<br>| Optional | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Terminates at age 65 or the <br> end of a benefit period, if <br> later.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Accelerated Death <br> Benefit for Terminal <br> Illness Rider<br>| You may add this rider at any time without cost. <br> The rider allows you to receive the present <br> value of the death benefit tax free if eligibility <br> requirements are met. Eligibility requirements <br> include doctor certification that the Insured is <br> terminally ill. State variations apply.<br>| Standard | &nbsp;&nbsp;&nbsp;&nbsp; ♦ Any assignee, irrevocable <br> beneficiary or other party <br> with ownership rights must <br> consent to payment of the <br> Accelerated Benefit.<br>|

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**Examples** 

**Accidental Death Benefit (Optional)** 

A Contract is issued to an Insured at age 45, with a Face Amount of $250,000 and the Accidental Death Benefit rider is elected for $100,000. The Insured is underwritten and given Preferred Nontobacco risk class on the base coverage and standard rating on the rider. The charges for the rider are included in the monthly deductions collected for the next several years. At the Insured's age 57, he is killed in a vehicle collision. The cause of death is ruled accidental. His Beneficiaries received the death proceeds of $250,000 base coverage and $100,000 Accidental Death Benefit coverage, for a total of $350,000.

**Cost of Living Adjustment Benefit (Optional)** 

A Contract is issued to an Insured at age 45, with a Face Amount of $250,000 and the Cost of Living Adjustment (COLA) Benefit. There is no charge for including this COLA rider. The Insured is underwritten and given Preferred Nontobacco risk class on the base coverage. On each Contract Anniversary, the Owner is informed of the amount that the coverage will increase. The Owner is given the option to decline the increase, which will terminate the COLA rider. The amount of each increase is determined by the CPI rate from the previous year. The Owner chooses to continue to accept all increases, and the amount of coverage continues to increase. The Cost of Insurance rates charged reflect these increases. The waiver rider expires when the Insured reaches age 65. At that time, his coverage has increased by a total Face Amount of $371,400. The Face Amount remains at this amount until the Insured's death.

**Guaranteed Increase Option (Optional)** 

A Contract is issued to an Insured at age 12, with an initial Face Amount of $25,000 and a GIO rider of $25,000. The Insured's risk class at issue is Standard Nontobacco, so all GIO increases will be at this risk class, with no additional underwriting. In this example, the Owner accepts the GIO at the Option Dates at the times that the Insured is ages 18, 22, and 25. The Face Amount in total is then $100,000 after these increases (initial $25,000 + 3 increases of $25,000 each). At age 27, the Owner exercises a Special Option at the time of the marriage of the Insured, bringing the total Face Amount to $125,000. The next Option at age 28 is skipped, and the Owner declines the Option at ages 31, 34 and 37. The Options are accepted at ages 40 and 43. With these 2 increases of $25,000 each, the total Face Amount is $175,000 after the last increase, and the GIO expires.

**Disability Waiver of Monthly Deductions (Optional)** 

A Contract is issued to an Insured at age 45, with a Face Amount of $250,000 and the Disability Waiver of Monthly Deduction rider is elected. The Insured is underwritten and given Preferred Nontobacco risk class on the base coverage and standard rating on the waiver. The charges for the waiver benefit are included in the monthly deductions collected for the next several years. At the Insured's age 52, he is injured in an accident on April 1st and is unable to work. The Insured submits a waiver claim, which is reviewed and approved, effective October 1st (6 months after disability). The Accumulated Value of the Contract is incremented by the amount of the monthly deductions for those 6 months, and monthly deductions are waived from that date forward. The Insured submits regular proof of his disability. After 15 months of waived deductions, the Insured recovers sufficiently to begin a new occupation. The monthly deductions begin again after his recovery. The waiver rider expires when the Insured reaches age 65.

**Disability Waiver of Selected Amount (Optional)** 

A Contract is issued to an Insured at age 45, with a Face Amount of $250,000 and the Disability Waiver of Selected Amount rider is elected, with the amount of $500 per month. The Insured is underwritten and given Preferred Nontobacco risk class on the base coverage and standard rating on the waiver. The charges for the waiver benefit are included in the monthly deductions collected for the next several years. At the Insured's age 52, he is injured in an accident on April 1<sup>st</sup> and is unable to work. The Insured submits a waiver claim, which is reviewed and approved, effective October 1<sup>st</sup> (6 months after disability). The Accumulated Value of the Contract is incremented by the total Selected Amount for those 6 months, and the Selected Amount is credited monthly from that date forward. The Insured submits regular proof of his disability. After 15 months of waiver claim, the Insured recovers sufficiently to begin a new occupation. The crediting of the Selected Amount stops at the time of his recovery. The waiver rider expires when the Insured reaches age 65.

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**Child Term Life Insurance (Optional)** 

A Contract is issued to an Insured at age 45, with a Face Amount of $250,000, and a $20,000 child rider is elected. Two children are named to be covered by the rider, ages 10 and 12. The charges for the child rider are included in the monthly deductions collected for the next several years. When each child reaches age 21, they are informed of eligibility to purchase coverage without underwriting any time before they are age 25. Each child decides to utilize this option. The older child takes out a $100,000 Universal Life contract age 24, and the other child takes out a $100,000 Whole Life contract at age 23. The child rider terminates when the second child uses the purchase option.

**Term Life Insurance (Optional)** 

A Contract is issued to an Insured at age 30, with a Face Amount of $250,000, with a Super-Preferred Nontobacco risk class. When he is 36, he realizes he needs more coverage to cover the years until his children are through college and adds a 30-year term rider of $150,000. The charges for the term rider are included in the monthly deductions collected for the next several years. When the Insured is age 55, he decides that he does not want that extra coverage to expire after the original 30 years. He does a full conversion of the $150,000 term into the VUL Contract, and now has $400,000 of base coverage. The term rider terminates as a result of the conversion.

**Spouse Term Life Insurance (Optional)** 

A Contract is issued to an Insured at age 45, with a Face Amount of $250,000, with a Super-Preferred Nontobacco risk class. A spouse rider is included at issue on the Insured's wife, also age 45, for $125,000 for a 30-year term. The charges for the spouse term rider are included in the monthly deductions collected for the next several years. As the spouse approaches age 70, they decide not to convert her coverage, as the original 30-year term continues to meet their needs. The spouse becomes ill a few years later and dies at age 72. The $125,000 is paid out to her beneficiary. The spouse term rider terminates when her death claim is paid.

**Annual Increase Benefit (Optional)** 

A Contract is issued to an Insured at age 45, with a Face Amount of $250,000, with a Super-Preferred Nontobacco risk class. An AIB rider is included at issue, and the Insured chooses 5% annual increases, and also chooses to have the scheduled payments increase by 5% annually. The charges for the rider are included in the monthly deductions collected for the next several years. On each Contract Anniversary, the Contract increases by 5%. When the Insured retires at age 67, the Face Amount has increased to $731,900. He decides that he no longer needs ongoing increases in coverage and chooses to discontinue the AIB rider. The rider terminates when he provides Notice.

**Applicant Waiver of Selected Amount (Optional)** 

A Contract is issued to an Insured at age 5, with a Face Amount of $50,000 and the Applicant Waiver of Selected Amount rider is elected, with the amount of $25 per month. The Insured's father is the applicant controller and is age 35. The Insured and controller are underwritten, and a standard rating is given on the waiver. The charges for the waiver benefit are included in the monthly deductions collected for the next several years. When the father is age 42, he is injured in an accident on April 1<sup>st</sup> and is unable to work. A waiver claim is submitted, which is reviewed and approved, effective October 1<sup>st</sup> (6 months after disability). The Accumulated Value of the Contract is incremented by the total Selected Amount for those 6 months, and the Selected Amount is credited monthly from that date forward. Regular proof of his disability is submitted. After 15 months of waiver claim, the father recovers sufficiently to begin a new occupation. The crediting of the Selected Amount stops at the time of his recovery. The waiver rider expires when the Insured reaches age 21.

**Accelerated Death Benefits for Terminal Illness Rider (Standard)** 

A Contract is issued to an Insured at age 45, with a Face Amount of $250,000 and the Accelerated Death Benefit rider is automatically included. There is no charge for including this rider. The Contract continues for several years, with regular scheduled payments made and monthly deductions collected. When the Insured is age 68, he is diagnosed with a terminal illness. A claim is submitted to accelerate the entire Death Benefit, to pay for his medical care. The claim processing includes obtaining a certification from a qualified physician, which indicates that the Insured's diagnosis is terminal and his life expectancy is 24 months or less. A calculation is made to determine the present value of the Death Benefit, less a $150 processing fee. The Contract is terminated when that accelerated payment is made.

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Surrenders and Withdrawals

You may surrender your Contract and receive your Cash Surrender Value or make a partial surrender by giving us Notice at our Service Center. The surrender or partial surrender will not be processed until we receive your request in Good Order. You may obtain information as to a surrender or partial surrender by contacting your financial advisor or professional or calling our Service Center at (800) 847-4836. We do not accept telephone requests for surrenders.

**Partial Surrenders**

Partial surrenders offer you a way to access your Accumulated Value. You may withdraw part of your Cash Surrender Value by giving us Notice. Each partial surrender must be at least $200. You may not make a partial surrender if the remaining Cash Surrender Value would be less than $300. Partial surrenders are implemented by either the redemption of Accumulation Units and/or reduction in the Fixed Account balance. The partial surrender will be taken from the Subaccounts and Fixed Account according to the ratio that the Contract's Accumulated Value in the Subaccount or Fixed Account bears to the total Accumulated Value less any loan plus accrued interest of the Contract at the time of the partial surrender; or any other administrative option you choose that is available at the time of the partial surrender. An amount withdrawn may not be repaid.

A partial surrender may have tax consequences. It is important to note that if the Face Amount is decreased (including as a result of partial surrender), there is a possibility that the Contract might be classified as a MEC. See *Taxes*.

**For a Contract with Option 1 (Level Death Benefit Option):**

A partial surrender will reduce your Accumulated Value, Face Amount, death benefit and the amount of premiums considered to meet the Death Benefit Guarantee Premium requirements. If the death benefit is equal to the Face Amount at the time of the partial surrender, the amount of the reduction in the death benefit will be equal to the amount of the partial surrender. If the death benefit is greater than the Face Amount, (a) the Face Amount will be reduced by the amount (if any) by which the partial surrender amount exceeds the difference between the death benefit and the Face Amount, and (b) the new death benefit will be based on the death benefit factor, Accumulated Value, and Face Amount after the reduction.

The Face Amount remaining in effect after a partial surrender may not be less than the minimum Face Amount as defined on issue in the schedule pages of your Contract. We will not grant any request for a partial surrender that would reduce the Face Amount below this amount.

**For a Contract with Option 2 (Variable Death Benefit Option):**

A partial surrender will reduce the Accumulated Value, death benefit and the amount of premiums paid. Since the premiums paid are reduced, partial surrenders also affect the amount of premiums considered paid to meet the Death Benefit Guarantee Premium requirement. A partial surrender will not reduce the Face Amount. A partial surrender may have tax consequences. See *Taxes*.

**Surrender**

At any time while the Contract is in force and the Insured is living, you may surrender this Contract by sending Notice to our Service Center while the Insured is living. If you surrender your Contract, the surrender will be effective on the day we receive Notice.

Following a surrender, you will receive the Cash Surrender Value from the Contract. As an alternative to receiving the Cash Surrender Value, at any time while the Insured is living (and before Attained Age 100) you may surrender this Contract and elect to apply the Cash Surrender Value as a single premium to purchase Paid-Up Life Insurance on the Insured.

A surrender may result in a Decrease Charge depending on the amount of time since your last Face Amount increase, if applicable.

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A surrender will result in a Cash Surrender Value of $0, a Face Amount of $0 and a Death Benefit of $0. Insurance coverage ceases on the effective date of the surrender and the coverage cannot be reinstated.

A surrender of your Contract may have tax consequences. See *Taxes*.

**Postponement of Payments**

We typically process any surrender, partial surrender, death benefit, loan, transfer or settlement option within 7 days after receipt of all applicable written and telephone requests and/or proof of death of the Insured. We may postpone payment of any amount due from the Variable Account for a surrender, partial surrender, transfer, loan or on the death of the Insured whenever:

♦

the New York Stock Exchange is closed or trading is otherwise restricted;

♦

the SEC has determined that an emergency exists;

♦

the SEC requires that trading be restricted; or

♦

the SEC, by order, permits such postponement for the protection of Contract Owners.

We may also place a temporary hold on the disbursement of redemption proceeds, in accordance with the terms and conditions of SEC No-Action Relief under the Redemption Requirements of Section 22(e) of the Investment Company Act of 1940.

Except when used to pay premiums due on contracts with us, we also may postpone any transfer from the Fixed Accounts or payment of any portion of the amount payable upon surrender, partial surrender or loan from the Fixed Accounts for not more than six months from the day we receive Notice and, if required, your Contract.

Under applicable anti-money laundering rules and other regulations, certain transactions may be suspended, restricted or cancelled and any proceeds may be withheld.

If mandated under applicable law, we may be required to reject a premium payment and/or otherwise block access to a Contract Owner's account, and thereby refuse to pay any request for transfers, partial surrenders, surrenders or death benefits. Once restricted, money is held in that account until instructions are received from the appropriate authority.

Loans

While the Insured is living, you may, by giving Notice, obtain a loan from us using your Contract as security for the loan. The maximum available loan amount is an amount such that the total loan or loans will not exceed 90% (in most states) of Accumulated Value less Decrease Charges at the time of the loan request.

For Contract loans, interest will accrue on a daily basis at a maximum annual rate of 5% on the loan balance. On the 10th Contract Anniversary, any Debt that does not exceed 60% of the Accumulated Value will be automatically changed to a preferred loan. On each subsequent Contract Anniversary, we will automatically change to a preferred loan the portion of Debt, if any, that is not a preferred loan and does not increase the sum of preferred loans on this contract to more than 60% of the Accumulated Value on that date. On or after the 10th Contract Year, when you take a new loan we will add the new loan to Debt and then change to a preferred loan the portion of the Debt, if any, that is not a preferred loan and does not increase the sum of preferred loans on this contract to more than 60% of the Accumulated Value on that date. Interest will accrue on a daily basis at a maximum annual rate of 3% on any preferred loan balance. Loans and loan interest must be repaid either during the life of the Insured or from Death Benefits.

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When a loan is made, Accumulated Value will be transferred to the Loan Account to secure the loan. Accumulated Value will be transferred from the Subaccounts or Fixed Account according to the ratio that the Accumulated Value in the Subaccounts or Fixed Account bears to the total Accumulated Value less loan and loan interest; or according to any other administrative option you choose and available at the time of the loan. The amount transferred to the Loan Account will continue to be treated as part of the Contract's Accumulated Value. An interest rate of 3% will be credited to the Loan Account.

While your Contract is in force, you may repay, at any time, all or part of your loan. All loan repayments must be in U.S. dollars drawn on a U.S. bank. Generally, we do not accept cash, starter checks (checks without pre-printed registration), traveler's checks, credit card courtesy checks, or third-party checks.

Upon your request, we will set up a loan repayment schedule for you. When you repay all or part of a loan, we credit your Loan Account then transfer the repayment from the Loan Account to the Subaccounts and the Fixed Account. Repayments will be allocated according to your premium allocation. Total Accumulated Value does not increase as a result of a loan repayment. The longer the loan is outstanding, the greater the negative impact it will have on Accumulated Value growth.

A loan reduces your Cash Surrender Value, your Death Proceeds and the amount of premiums considered to meet the Death Benefit Guarantee Premium requirement. Depending upon investment performance of the Subaccounts and the amounts borrowed, loans may cause your Contract to lapse. If your Contract lapses with an outstanding loan, adverse tax consequences may result. You should carefully consider the impact on your Contract's Death Proceeds, before exercising these privileges.

A loan may have tax consequences. See *Taxes*.

Lapse and Reinstatement

**Lapse** <br>Your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) will lapse (that is, terminate without value) if:

♦

your monthly deductions are greater than your [Cash Surrender Value](#cashsurrendervalue_fcfcaf72-3d10-4028-ac4f-c59a9640d90f);

♦

the [Death Benefit Guarantee](#deathbenefitguarantee_f166f35a-512a-44ce-9cec-2160c84d9bee) is not in effect; and

♦

payment of the required premium to keep the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) in force is not received within 61 days of the date notification is mailed to you (in most states). If the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) lapses, a tax may result.

If the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) lapses, you have the right to reinstate your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) within certain limitations. The requirements for reinstatement and associated limitations are described below and in more detail in your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e). Reinstatement within 90 days of lapse and within the same calendar year as the lapse is most beneficial for minimizing any related taxes.

**Reinstatement** <br>You may reinstate the Contract any time within three years after it has lapsed (some states may require a longer period to be able to reinstate your Contract). You cannot reinstate a Contract that was surrendered by you. To reinstate your Contract you must provide evidence of insurability that meets our standards and submit the required payment equal to or more than:

♦

the amount to cover the monthly deductions that were not made during the grace period;

♦

an amount to keep this Contract in force for at least two months, based on unit values on the date of reinstatement; and

♦

repayment of any loan amount and loan interest.

The premium paid upon reinstatement will be used first to pay any unpaid monthly deductions that occurred during the grace period. Your Contract will then be reinstated as of the date we approve your application for reinstatement.

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We may contest the validity of the reinstated Contract based only upon statements made in the application for reinstatement for two years from the date of reinstatement.

Taxes

**General** 

The following discussion of the federal income tax treatment of the Contract is not exhaustive, does not purport to cover all situations, and is not intended as tax advice. The federal income tax treatment of the Contract is unclear in certain circumstances, and a qualified tax advisor should always be consulted with regard to the application of law to individual circumstances. This discussion is based on the Code, Treasury Department regulations, and interpretations existing on the date of this prospectus. These authorities, however, are subject to change by Congress, the Treasury Department, and judicial decisions.

This discussion generally does not address state or local tax consequences associated with the purchase of the Contract. In addition, WE MAKE NO GUARANTEE REGARDING ANY TAX TREATMENT—FEDERAL, STATE OR LOCAL—OF ANY CONTRACT OR OF ANY TRANSACTION INVOLVING A CONTRACT.

**Estate, Gift and Generation-Skipping Transfer Tax Considerations** 

The transfer of the Contract or designation of a Beneficiary may have federal, state, and/or local transfer and inheritance tax consequences, including the imposition of gift, estate, and generation skipping transfer taxes. For example, the transfer of the Contract to, or the designation as a Beneficiary of, or the payment of proceeds to, a person who is assigned to a generation which is two or more generations below the generation assignment of the Contract Owner may have generation-skipping transfer tax consequences in addition to gift and estate tax consequences under federal tax law.

The individual situation of each Contract Owner or Beneficiary will determine the extent, if any, to which federal, state, and local transfer and inheritance taxes may be imposed and how ownership or receipt of Contract proceeds will be treated for purposes of federal, state and local estate, inheritance, generation-skipping and other taxes. If this Contract is used with estate and gift tax planning in mind, you should consult with your tax advisor as to the most up-to-date information as to federal estate, gift, and generation skipping tax rules.

**Tax Status of the Variable Account** 

We are treated as the owner of the assets of the Variable Account for federal tax purposes. Also, the Variable Account is not separately taxed as a "regulated investment company" under the Code. Both the investment income and realized capital gains of the Variable Account (i.e., the income and capital gains distributed to the Variable Account by the Fund) are reinvested without tax under current law. We reserve the right in the future to make a charge against the Variable Account or the Accumulated Value of a Contract for any federal, state, or local income taxes that are incurred and that we determine to be properly attributable to the Variable Account or the Contract. We will promptly notify you of any such charge.

**Taxation of the Contract—In General** 

**Tax Status of the Contract** 

Section 7702 of the Code establishes a statutory definition of life insurance for federal tax purposes. Under this section of the Code, a Contract must satisfy either the Cash Value Accumulation Test or the Guideline Premium Test. While the requirements of this section of the Code are complex and limited guidance has been provided from the Internal Revenue Service (the "IRS") or otherwise, Thrivent believes that the Contract will meet the current statutory definition of life insurance, which places limitations on the Accumulated Values under both the Cash Value Accumulation Test and Guideline Premium Test, and premiums under the Guideline Premium Test, that can accumulate relative to the Death Benefit. As a result, the Death Benefit payable under the Contract will generally be excludable from the Beneficiary's gross income, and gains and other income credited under the Contract will not be taxable unless certain withdrawals are made

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(or deemed to be made) from the Contract prior to the Insured's death, as discussed below. This tax treatment generally will only apply, however, if (1) the investments of the Variable Account are "adequately diversified" in accordance with Treasury Department regulations, and (2) Thrivent, rather than the Contract Owner, is considered the owner of the assets of the Variable Account for federal income tax purposes.

The Code and Treasury Department regulations prescribe the manner in which the investments of a segregated asset account, such as the Variable Account, are to be "adequately diversified." If the Variable Account fails to comply with these diversification standards, the Contract will not be treated as a life insurance contract for federal income tax purposes and the Contract Owner would generally be taxed currently on the income on the Contract (as defined in the tax law). We expect that the Subaccounts of the Variable Account, through the Portfolios, will comply with the diversification requirements prescribed by the Code and Treasury Department regulations.

In certain circumstances, variable life insurance contract owners may be considered the owners, for federal income tax purposes, of the assets of a segregated asset account, such as the Variable Account, used to support their contracts. In those circumstances, income and gains from the segregated asset account would be includible in the contract owners' gross income on a current basis. The IRS has stated in published rulings that a variable contract owner will be considered the owner of the assets of a segregated asset account if the owner possesses incidents of ownership in those assets, such as the ability to exercise investment control over the assets. The ownership rights under the Contract are similar to, but differ in certain respects from, the ownership rights described in certain other IRS rulings where it was determined that contract owners were not owners of the assets of a segregated asset account. For example, the Owner of this Contract has the choice of more investment options to which to allocate premium payments and the Accumulated Value than were addressed in such rulings. These differences could result in the Contract Owner being treated as the owner of all or a portion of the assets of the Variable Account and thus subject to current taxation on the income and gains from those assets. In addition, we do not know what standards will be set forth in any further regulations or rulings which the Treasury Department or the IRS may issue. We, therefore, reserve the right to modify the Contract as necessary to attempt to prevent Contract Owners from being considered the owners of the assets of the Variable Account. However, there is no assurance that such efforts would be successful.

The remainder of this discussion assumes that the Contract will be treated as a life insurance contract for federal tax purposes.

**Tax Treatment of Death Proceeds** 

In general, the amount of the Death Proceeds payable from a Contract by reason of the death of the Insured is excludable from gross income under section 101 of the Code. Certain transfers of the Contract for valuable consideration, however, may result in a portion of the Death Proceeds being taxable.

If the Death Proceeds are not received in a lump sum and are, instead, applied under certain settlement options (other than settlement option 1), generally payments will be prorated between amounts attributable to the Death Proceeds, which will be excludable from the Beneficiary's income, and amounts attributable to interest (accruing after the Insured's death), which will be includible in the Beneficiary's income. If the Death Proceeds are applied under settlement option 1, the interest credited will be currently includible in the Beneficiary's income.

Death Proceeds may be subject to state and/or federal estate and/or inheritance tax. The entire amount of Death Proceeds will be included in the taxable estate of an Insured if the Insured possesses control (referred to as "incidents of ownership") over the Contract at the time of death or control has not been transferred more than three years prior to death. Many factors determine if an estate is subject to estate and/or inheritance tax such as the size of the taxable estate, timing of death and the applicable state law.

**Tax Deferral During Accumulation Period** 

Under existing provisions of the Code, except as described below, any increase in a Contract's Accumulated Value is generally not taxable to the Contract Owner unless amounts are received (or are deemed to be received) from the Contract prior to the Insured's death. Amounts received (or deemed to be received) from the Contract are treated as

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ordinary income for tax purposes. If there is a full surrender of the Contract, an amount equal to the excess of the amount received over the "investment in the contract" will generally be includible in the Contract Owner's income. The "investment in the contract" generally is the aggregate premiums and other consideration paid for the Contract, less the aggregate amount received under the Contract previously to the extent such amounts received were excludable from gross income.

As discussed below, the taxation of partial surrenders and other amounts deemed to be distributed from the Contract depends, in part, upon whether the Contract is considered a MEC for federal income tax purposes. The status of a Contract as a MEC also may affect whether a 10% penalty tax applies upon a surrender or other distribution, as discussed below.

**Taxation of Contracts that Are Not MECs** 

**Tax Treatment of Partial Surrenders from Contracts that Are Not MECs—In General** 

If the Contract is not a MEC (described below), the amount of any partial surrender from the Contract generally will be treated first as a non-taxable recovery of premium and then as income received from the Contract. Thus, a partial surrender from a Contract that is not a MEC generally will not be includible in income except to the extent it exceeds the investment in the contract immediately before the partial surrender.

**Tax Treatment of Loans from Contracts that Are Not MECs** 

If a Contract is not a MEC, a Contract loan generally will be treated as indebtedness of the Contract Owner. As a result, no part of any Contract loan will constitute income to the Contract Owner so long as the Contract remains in force. However, in those situations where the interest rate credited to the Loan Account equals or is nearly the same as the interest rate charged for the loan, it is possible that some or all of the loan proceeds may be includible in income. If a Contract lapses or is surrendered when a Contract loan is outstanding, the portion of the Accumulated Value applied to repay the Contract loan outstanding, including any accrued and unpaid loan interest, will be treated as the proceeds of a surrender for purposes of determining whether any amounts are includible in the Contract Owner's income. The amount of Debt over and above that secured by Accumulated Value is "excess debt" taxable as "cancellation of indebtedness".

Generally, interest paid on any Contract loans will not be tax deductible. A limited exception to this rule exists for certain interest paid in connection with certain "key person" insurance. Contract Owners should consult a tax advisor regarding the deductibility of interest incurred in connection with this Contract.

**Taxation of Contracts that Are MECs** 

**Characterization of a Contract as a MEC** 

In general, a Contract will be considered a MEC under section 7702A of the Code if (1) the Contract is received in exchange for a life insurance contract that was a MEC, or (2) the Contract is entered into on or after June 21, 1988 and premiums are paid into the Contract more rapidly than the rate defined by a "7-Pay Test." This test generally provides that a Contract will fail this test (and thus be considered a MEC) if the accumulated amount paid under the Contract at any time during the first 7 Contract Years exceeds the cumulative sum of the net level premiums which would have been paid to that time if the Contract provided for paid-up future benefits after the payment of 7 level annual premiums.

A material change of the Contract (as defined in the tax law) will generally result in a reapplication of the 7-Pay Test. In addition, any reduction in benefits during a 7-Pay testing period, including where a Contract lapses and is then reinstated more than 90 days later will affect the application of this test. For both material changes and reduction in benefits we will recalculate the applicable limit. The new limit may be higher or lower than the original 7-Pay Limit. We will monitor the Contracts and will attempt to notify Contract Owners on a timely basis if a Contract becomes a MEC or would become a MEC as a result of a transaction. The Contract Owner may then request that we take any steps that may be available to avoid treatment of the Contract as a MEC, if that is desired.

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**Tax Treatment of Partial Surrenders, Loans, Assignments, and Pledges Where a Contract is a MEC** 

If the Contract is a MEC, partial surrenders from the Contract will be treated first as withdrawals of income and then as a recovery of the investment in the Contract. Thus, partial surrenders will be includible in income to the extent the Accumulated Value exceeds the investment in the Contract. The receipt of any Contract loan, including any accrual of loan interest, will be treated as a withdrawal for tax purposes. In addition, distributions made within two years before a failure to meet the 7-Pay Test are treated as made under a MEC.

The discussion above regarding the tax treatment of deductibility of interest on loans and of lapses while loans are outstanding under the caption "Tax Treatment of Loans from Contracts that Are Not MECs" also generally applies to Contracts which are MECs.

If the Contract Owner assigns or pledges (or agrees to assign or pledge) any portion of the Accumulated Value, such portion will be treated as a withdrawal for tax purposes. If the entire Accumulated Value is assigned or pledged, subsequent increases in the Accumulated Value are also treated as withdrawals for as long as the assignment or pledge remains in place. The Contract Owner's investment in the Contract is increased by the amount includible in income with respect to any assignment, pledge, or loan, though it is not affected by any other aspect of the assignment, pledge, or loan (including its release or repayment). Before assigning, pledging, or requesting a loan under a Contract treated as a MEC, a Contract Owner should consult a tax advisor.

**Penalty Tax** 

Generally, proceeds of a full or partial surrender (or the amount of any deemed withdrawal, such as in the case of loans, assignments and pledges) from a MEC are subject to a penalty tax equal to 10% of the portion of the proceeds that is includible in income. This penalty tax does not apply where the surrender or deemed withdrawal is made (1) after the Contract Owner attains age 59<sup>1⁄2</sup>, (2) because the Contract Owner has become disabled (as defined in the tax law), or (3) as substantially equal periodic payments over the life or life expectancy of the Contract Owner (or the joint lives or life expectancies of the Contract Owner and his or her Beneficiary, as defined in the tax law).

**Aggregation of Contracts that Are MECs** 

All life insurance contracts which are treated as MECs and which are purchased by the same person(s) from Thrivent, or any of our affiliates, within the same calendar year will be aggregated and treated as one contract for purposes of determining the tax on withdrawals (including deemed withdrawals). Contracts issued by different companies that subsequently merge are not aggregated. The effects of such aggregation are not always clear; however, it could affect the amount of a full or partial surrender (or a deemed withdrawal) that is taxable and the amount which might be subject to the 10% penalty tax described above.

**Contracts Not Owned by Individuals** 

In the case of life insurance contracts issued to a non-natural taxpayer, or held for the benefit of such an entity, the tax law provides that a portion of the taxpayer's otherwise deductible interest expenses may not be deductible as a result of ownership of the contract even if no loans are taken under the contract. An exception to this rule is provided for certain life insurance contracts which cover the life of an individual who is a twenty percent owner, or an officer, director, or employee, of a trade or business at the time first covered by the Contract. Entities that are considering purchasing the Contract, or entities that will be beneficiaries under a Contract, should consult a tax advisor.

**Section 1035 Exchanges** 

Section 1035 of the Code provides that no gain or loss will be recognized on the exchange of a life insurance contract for another life insurance contract, endowment contract, annuity contract, or qualified long-term care insurance contract, provided that certain requirements are met. If the Contract is being issued in exchange for another life insurance contract, the requirements that must be met to receive tax-free treatment under Section 1035 of the Code include, but are not limited to: (1) the contracts must have the same insured, and (2) your old contract must be exchanged for the new contract either through an assignment of your old contract to the new insurer or by a direct transfer of the account value of the old contract to the new insurer. If your old contract was a MEC, the new life insurance contract also will be a MEC. You

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cannot exchange an endowment, annuity, or qualified long-term care insurance contract for a life insurance contract tax-free. If any money or other property is received in the exchange ("boot") that satisfies the requirements of section 1035 of the Code, gain (but not loss) will be recognized equal to the lesser of the gain realized on the exchange or the amount of the boot received.

Generally, the new contract will have the same investment in the contract as the exchanged contract. However, if boot is received in the exchange the investment in the contract may be adjusted. Special rules and procedures apply to section 1035 exchanges. These rules can be complex, and if you wish to take advantage of section 1035, you should consult a tax and/or legal advisor.

**Accelerated Death Benefits** 

If an Insured is "terminally ill," as defined in the tax law, accelerated death benefits paid under a life insurance contract generally will be excludable from income under section 101 of the Code. Exceptions apply for certain business-related contracts and in certain situations where a Contract has been transferred for value. Under the tax law, an individual is considered "terminally ill" if the individual has been certified by a physician (as defined in the tax law) as having an illness or physical condition which can reasonably be expected to result in death in 24 months or less after the date of the certification.

Amounts paid under the accelerated benefits for terminal illness rider incorporated into this Contract will in most circumstances satisfy this requirement.

**Actions to Ensure Compliance with the Tax Law** 

We believe that the values we have determined for the Contracts will comply with the federal tax definition of life insurance under section 7702 of the Code. We will monitor Contract values and take action as necessary to help assure compliance. We reserve the right to not accept any premiums when the Death Benefit is based on the Table of Factors in your Contract. We also reserve the right to increase the Death Benefit (which may result in larger charges under a Contract) or to take any other action deemed necessary to ensure the compliance of the Contract with the federal tax definition of life insurance.

**Other Considerations** 

Changing the Contract Owner, designating an irrevocable Beneficiary, exchanging the Contract, increasing and decreasing the Face Amount, changing from one Death Benefit Option to another, and other changes under the Contract may have tax consequences (other than those discussed herein) depending on the circumstances of such change or event. In addition, tax consequences may apply if you sell your Contract. This list and the discussion herein are not exhaustive. Other transactions with respect to a Contract may also have federal income or other tax consequences. Federal estate, and state and local estate, inheritance and other tax consequences of ownership or receipt of Contract proceeds depend on the circumstances of each Contract Owner or Beneficiary.

In the case of an "employer-owned life insurance contract" as defined in the tax law that is issued (or deemed to be issued) after August 17, 2006, the portion of the death benefit excludable from gross income generally will be limited to the premiums paid for the contract. However, this limitation on the death benefit exclusion will not apply if certain notice and consent requirements are satisfied and one of several exceptions is satisfied. These exceptions include circumstances in which the death benefit is payable to certain heirs of the insured or to acquire an ownership interest in a business, or where the contract covers the life of a director or an insured who is "highly compensated" within the meaning of the tax law. These rules, including the definition of an "employer-owned life insurance contract," are complex, and you should consult with your advisers for guidance as to their application.

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**Medicare Hospital Insurance Tax** 

A Medicare hospital insurance tax of 3.8% will apply to some types of investment income. This tax will apply to the taxable portion of (1) any proceeds distributed from the Contract as annuity payments pursuant to a settlement option prior to the death of the Insured, or (2) the proceeds of any sale or disposition of the Contract. This tax only applies to taxpayers with "modified adjusted gross income" that exceeds certain thresholds. For more information regarding this tax and whether it may apply to you, please consult your tax advisor.

**Federal Income Tax Withholding** 

We will withhold and remit to the federal government a part of the taxable portion of full and partial surrenders made under a Contract unless the Contract Owner notifies us in writing, and such Notice is received at the Service Center at or before the time of the full or partial surrender, that he or she elects not to have any amounts withheld. This election out of withholding is not permitted in certain circumstances. Regardless of whether the Contract Owner requests that no taxes be withheld or whether we withhold a sufficient amount of taxes, the Contract Owner will be responsible for the payment of any taxes including any penalty tax that may be due on the amounts received. The Contract Owner may also be required to pay penalties under the estimated tax rules if the Contract Owner's withholding and estimated tax payments are insufficient to satisfy the Contract Owner's tax liability.

**Nonresident Aliens and Other Foreign Persons** 

The discussion above provides general information regarding U.S. federal withholding tax consequences to life insurance purchasers that are U.S. citizens or residents. Purchasers or Beneficiaries that are not U.S. citizens or residents will generally be subject to U.S. federal withholding tax on taxable distributions (including taxable Death Benefit Proceeds) from life insurance policies at a 30% rate, unless a lower treaty rate applies. Prospective purchasers that are not U.S. citizens or residents and other foreign persons should consult with a tax advisor regarding federal tax withholding with respect to distributions from a Contract.

**FATCA Withholding** 

If the payee of a distribution (including the Death Benefit) from the Contract is a foreign financial institution ("FFI") or a non-financial foreign entity ("NFFE") within the meaning of the Code as amended by the Foreign Account Tax Compliance Act ("FATCA"), the distribution could be subject to U.S. federal withholding tax on the taxable amount of the distribution at a 30% rate irrespective of the status of any beneficial owner of the Contract or the nature of the distribution. The rules relating to FATCA are complex, and a tax advisor should be consulted if an FFI or NFFE is or may be designated as a payee with respect to the Contract.

Distribution of the Contracts

Thrivent Investment Management Inc., 600 Portland Avenue S., Suite 100, Minneapolis, Minnesota 55415, an indirect subsidiary of Thrivent, is a registered broker-dealer and acts as principal underwriter and distributor of the Contracts pursuant to a distribution agreement with us. Thrivent Investment Management Inc. also acts as the distributor of a number of other variable annuity and variable life insurance contracts we offer.

The financial advisor or professional in this transaction is a duly licensed registered representative of Thrivent Investment Management Inc. and is also an appointed insurance producer of Thrivent. Sales of Thrivent insurance products, which include variable annuity and variable life insurance contracts, help support our mission of service to congregations and communities. This gives both the organization and our members an opportunity to promote volunteerism, aid those in need, strengthen non-profit organizations and address critical community needs.

In addition, your financial advisor or professional may be paid differently depending on the product or service he or she recommends. As a result, your financial advisor or professional in this transaction may have a financial incentive to recommend that you purchase one product instead of another.

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From time to time and in accordance with applicable laws and regulations, financial advisors and professionals are eligible for various incentives. These include cash incentives such as bonuses and sales incentives, or other economic benefits. In addition to the commissions or other compensation paid when you purchase or invest in a product or account, your financial advisor or professional may also be paid additional compensation based on factors including the total volume of product sales, length of time that you continue to pay premiums or keep assets invested in the products sold.

Compensation consists of commissions, bonuses and promotional incentives. Increases in coverage pay at a first-year commission rate of 20% to 92% of commissionable premiums paid into the Contract. Your financial advisor or professional also receives a premium based trail compensation ranging from 0% to 7.448% annually.

Your financial advisor or professional may receive asset-based compensation in the amount of 0% to 0.312% of the Accumulated Value, if eligible. If you elect a settlement option, we pay commissions to the financial advisor or professional ranging from 0% to 0.980% of the premium applied to the settlement option, if eligible.

Financial advisors and professionals are eligible to be paid back a portion of what they spent on marketing their financial services to the public.

Legal Proceedings

There are no legal proceedings to which the Variable Account is a party or to which the assets of the Variable Account are subject. Neither Thrivent nor Thrivent Investment Management Inc. is involved in any litigation that is of material importance in relation to their financial condition or that relates to the Variable Account.

Financial Statements

The financial statements of Thrivent and the Variable Account are contained in the Statement of Additional Information. The SAI is available, without charge, upon request. You can view a copy of the SAI online at dfinview.com/Thrivent/VariableLife03 or you can request a copy by calling our Service Center at 1-800-847-4836, or by sending an email request to mail@thrivent.com.

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Special Terms

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| | |
|:---|:---|
| **Accumulated Value** | The total value of the Contract. Accumulated Value equals the sum of the <br> Subaccounts, the Fixed Account, and the Loan Account.<br>|
| **Accumulation Unit** | A unit of measure used to calculate the Accumulated Value in each <br> Subaccount of the Variable Account.<br>|
| **Accumulation Unit Value** | On any Valuation Date, the value of the Accumulation Unit of each <br> Subaccount of the Variable Account.<br>|
| **Additional Benefits** | Benefits provided by riders, if any, attached to the Contract. |
| **Attained Age** | Attained Age on any day is the Insured's age on the Contract Anniversary <br> on or immediately prior to that day.<br>|
| **Beneficiary**  | The person(s) named by the Contract Owner to receive the Death <br> Proceeds under the Contract. A Beneficiary need not be a natural person.<br>|
| **Cash Surrender Value** | The Accumulated Value of the Contract less any applicable Decrease <br> Charges and outstanding loan balances and any deferred monthly <br> deductions.<br>|
| **Contract**  | The flexible premium variable life insurance Contract offered by us, <br> (Thrivent) and described in this prospectus. The Contract consists of the <br> Contract, any additional riders or benefits, amendments, endorsements, the <br> application and our Articles of Incorporation and Bylaws.<br>|
| **Contract Anniversary** | The same day and month in each succeeding year as the Date of Issue. |
| **Contract Date** | The later of the Date of Issue or the date we receive in Good Order the first <br> premium payment at our Service Center.<br>|
| **Contract Year**  | The 12-month period following the Date of Issue or a Contract Anniversary. <br> The Contract Year is always based upon the time elapsed since the Date of <br> Issue.<br>|
| **Date of Issue**  | The date when we issue the Contract. This date will be specified in the <br> Contract and may be different from the Contract Date. The Date of Issue is <br> the date as of which we begin to apply deductions from your Accumulated <br> Value.<br>|
| **Death Benefit**  | The amount of the benefit that provides the basis for the Death Proceeds <br> calculation. The Death Benefit on any day depends on the Death Benefit <br> Option in effect on that day.<br>|
| **Death Benefit Guarantee** | A Contract provision that guarantees that insurance coverage will not lapse <br> if your Cash Surrender Value is not adequate to cover the current monthly <br> deductions as long as premium requirements are met and the guarantee is <br> in effect.<br>|
| **Death Benefit Guarantee Premium** | The minimum monthly premium required to keep the Death Benefit <br> Guarantee(s) in effect. Different combinations of age, sex, risk class, Face <br> Amount, Death Benefit Option and additional benefits will result in different <br> Death Benefit Guarantee Premiums.<br>|
| **Death Benefit Option** | Either of the two methods used to determine the Death Benefit. |
| **Death Proceeds**  | The amount paid upon the death of the Insured. |
| **Decrease Charge**  | A Decrease Charge compensates us for expenses associated with <br> underwriting, issuing and distributing the Contract. The charge will apply if <br> you increase the Face Amount and then within 10 years of that increase <br> you decrease the Face Amount or take a partial surrender that results in a <br> decrease in Face Amount. We calculate the amount of the Decrease <br> Charge at the time of the reduction in Face Amount or surrender. The <br> charge is based on the amount of the increase that is being decreased. <br> We do not deduct this amount until the next Monthly Anniversary or upon <br> surrender or lapse, if earlier.<br>|
| **Debt** | All unpaid contract loans plus accrued interest. |
| **Dollar Cost Averaging** | An elective program that systematically moves dollars from the Money <br> Market Subaccount.<br>|

---

**49**

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| | |
|:---|:---|
| **Face Amount**  | The amount of life insurance for which we issued the Contract. The Face <br> Amount of your Contract may change, as described in your Contract.<br>|
| **Fixed Account** | A cash value accumulation option that credits an interest rate. The Fixed <br> Account is part of our General Account. The Fixed Account is not a <br> Subaccount.<br>|
| **Fund** | Thrivent Series Fund, Inc., an open-end management investment company, <br> that consists of several Portfolios that underlie Subaccounts of the Variable <br> Account.<br>|
| **General Account** | The General Account includes all assets we own that are not in the Variable <br> Account or any other separate account.<br>|
| **Good Order** | Any request that is submitted with any and all required forms, information, <br> authorization, and funds, received at our Service Center in Appleton, <br> Wisconsin.<br>|
| **Insured**  | The person on whose life the Contract is issued. |
| **Issue Age** | The age of the Insured as of his or her last birthday on the Date of Issue. |
| **Level Death Benefit** | This Death Benefit Option generally remains level but could vary in limited <br> situations. It is also called Option 1 in your Contract.<br>|
| **Loan Account** | If there is a loan against the Contract, we set up a Loan Account for you. <br> The Loan Account is equal to the amount transferred from any Subaccount, <br> or the Fixed Account to secure the loan plus any interest credited.<br>|
| **MEC Contract Year** | The 12-month period following the Date of Issue or a Contract Anniversary <br> unless there has been a material change under IRC Section 7702A. A <br> material change of the Contract (as defined in the tax law) results in a MEC <br> Contract Year based upon the date of the material change. If there has <br> been more than one material change, the most recent material change will <br> determine the current MEC Contract Year.<br>|
| **Net Premium** | The amount invested in the Contract after a 5% charge is taken for sales <br> expenses. The percent of premium charge may not be deducted in certain <br> situations.<br>|
| **Notice** | A written request or notice signed by the Contract Owner, received in Good <br> Order by us at our Service Center and satisfactory in form and content to <br> us. While your Contract refers to written notice, administratively Notice may <br> meet this requirement.<br>|
| **Owner** | A person or entity who owns the Contract. |
| **Paid-Up Life Insurance** | A new whole life insurance contract with a reduced death benefit <br> determined based on the Cash Surrender Value applied as a single <br> premium to purchase the coverage. No further premiums will be required to <br> support the new, lower amount of coverage.<br>|
| **Portfolio**  | A portfolio of Thrivent Series Fund, Inc. which is the underlying investment <br> of a corresponding Subaccount which you may select for your Contract.<br>|
| **Percent of Premium Charge** | 5% of each premium. |
| **Service Center**  | Our office located at 4321 North Ballard Road, Appleton, Wisconsin <br> 54919-0001 or such other address as we may designate. Telephone: (800) <br> 847-4836. Email: mail@thrivent.com.<br>|
| **Subaccount**  | Your available investment options within the Variable Account. Each <br> Subaccount invests exclusively in the shares of a corresponding Portfolio of <br> the Fund.<br>|
| **Table of Factors**  | The table found in your Contract and used to help qualify your Contract as <br> a life insurance contract under federal tax law.<br>|
| **Thrivent** | Thrivent Financial for Lutherans, a fraternal benefit society organized under <br> the laws of the State of Wisconsin, owned by and operated for its members. <br> Thrivent is the issuer of the Contract.<br>|
| **Valuation Date** | Any day upon which the New York Stock Exchange is open for regular <br> trading.<br>|

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**50**

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| | |
|:---|:---|
| **Valuation Period** | The period from the end of one Valuation Date to the end of the next <br> Valuation Date.<br>|
| **Variable Account** | Thrivent Variable Life Account I, which is a separate account of Thrivent. |
| **Variable Death Benefit Option** | This Death Benefit Option will vary over time, corresponding with the <br> Accumulated Value. It is also called Option 2 in your Contract.<br>|
| **we, us, our** | Thrivent. |
| **you, your** | The Owner(s) of the Contract. |

---

**51**

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Appendix: Portfolios Available Under the Contract

The following is a list of [Portfolios](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) that correspond to subaccounts available under the [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e). More information about the [Portfolios](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) is available in the prospectuses for the [Portfolios](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d), which may be amended from time to time and can be found online at dfinview.com/Thrivent/VariableLife03. You can also request this information in paper at no cost by calling (800) 847-4836 or by sending an email request to mail@thrivent.com.

The current expenses and performance information below reflects fees and expenses of the [Portfolios](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) but does not reflect the other fees and expenses that your [Contract](#contract_17547b3e-a6b5-4582-a75d-107711000c3e) may charge. Expenses would be higher and performance would be lower if these charges were included. Each [Portfolio's](#portfolio_adfb4643-5366-4c44-a705-5e9bacd25e8d) past performance is not necessarily an indication of future performance.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **INVESTMENT** <br> **TYPE** | **PORTFOLIO AND ADVISER/SUBADVISER** | **CURRENT** <br>**EXPENSES** | **AVERAGE ANNUAL TOTAL RETURNS** <br>(as of 12/31/25) | **AVERAGE ANNUAL TOTAL RETURNS** <br>(as of 12/31/25) | **AVERAGE ANNUAL TOTAL RETURNS** <br>(as of 12/31/25) |
| &nbsp;&nbsp; **INVESTMENT** <br> **TYPE** | **PORTFOLIO AND ADVISER/SUBADVISER** | **CURRENT** <br>**EXPENSES** | **1 YEAR** | **5 YEAR** | **10 YEAR** |
| &nbsp;&nbsp; Aggressive <br> Allocation<br>| **Thrivent Aggressive Allocation Portfolio** | 0.85%<sup>1</sup> | 15.81% | 9.61% | 11.26% |
| Large Blend | **Thrivent All Cap Portfolio** | 0.66% | 18.05% | 11.90% | 12.43% |
| &nbsp;&nbsp; Conservative <br> Allocation<br>| **Thrivent Conservative Allocation Portfolio** | 0.50% | 10.17% | 4.03% | 5.42% |
| &nbsp;&nbsp; Moderately <br> Conservative <br> Allocation<br>| **Thrivent Dynamic Allocation Portfolio** | 0.68% | 12.62% | 5.92% | 6.84% |
| &nbsp;&nbsp; Diversified <br> Emerging <br> Mkts<br>| **Thrivent Emerging Markets Equity Portfolio** | 1.15%<sup>1</sup> | 32.20% | 2.10% | 7.47% |
| Large Blend | **Thrivent ESG Index Portfolio** | 0.36%<sup>1</sup> | 17.78% | 13.56% | N/A<sup>3</sup> |
| &nbsp;&nbsp; Global <br> Large-Stock <br> Blend<br>| **Thrivent Global Stock Portfolio** | 0.60% | 20.82% | 10.69% | 10.67% |
| &nbsp;&nbsp; Intermediate <br> Government<br>| **Thrivent Government Bond Portfolio** | 0.49% | 7.32% | 0.01% | 1.74% |
| Health | **Thrivent Healthcare Portfolio** | 0.92% | 13.07% | 4.62% | 7.37% |
| &nbsp;&nbsp; High Yield <br> Bond<br>| **Thrivent High Yield Portfolio** | 0.45% | 8.78% | 4.06% | 5.32% |
| &nbsp;&nbsp; Corporate <br> Bond<br>| **Thrivent Income Portfolio** | 0.44% | 7.93% | 0.38% | 3.60% |
| &nbsp;&nbsp; Foreign Large <br> Blend<br>| **Thrivent International Equity Portfolio** | 0.72% | 30.87% | 8.54% | 7.41% |
| &nbsp;&nbsp; Foreign Large <br> Blend<br>| **Thrivent International Index Portfolio** | 0.37% | 31.15% | 8.61% | N/A<sup>3</sup>  |
| Large Growth | **Thrivent Large Cap Growth Portfolio** | 0.43% | 16.95% | 12.89% | 16.35% |
| Large Blend | **Thrivent Large Cap Index Portfolio** | 0.22% | 17.62% | 14.17% | 14.54% |
| Large Value | **Thrivent Large Cap Value Portfolio** | 0.62% | 19.65% | 13.96% | 12.16% |
| &nbsp;&nbsp; Mid-Cap <br> Growth<br>| **Thrivent Mid Cap Growth Portfolio** | 0.89%<sup>1</sup> | 2.50% | 1.10% | N/A<sup>3</sup>  |
| &nbsp;&nbsp; Mid-Cap <br> Blend<br>| **Thrivent Mid Cap Index Portfolio** | 0.25% | 7.23% | 8.86% | 10.46% |
| &nbsp;&nbsp; Mid-Cap <br> Blend<br>| **Thrivent Mid Cap Stock Portfolio** | 0.66% | 4.73% | 6.86% | 11.30% |
| &nbsp;&nbsp; Mid-Cap <br> Value<br>| **Thrivent Mid Cap Value Portfolio** | 0.87%<sup>1</sup> | 10.82% | 11.31% | N/A<sup>3</sup> |
| &nbsp;&nbsp; Moderate <br> Allocation<br>| **Thrivent Moderate Allocation Portfolio** | 0.70%<sup>1</sup> | 13.63% | 7.13% | 8.38% |

---

**52**

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **INVESTMENT** <br> **TYPE** | **PORTFOLIO AND ADVISER/SUBADVISER** | **CURRENT** <br> **EXPENSES** | **AVERAGE ANNUAL TOTAL** <br> **RETURNS** <br> (as of 12/31/25) | **AVERAGE ANNUAL TOTAL** <br> **RETURNS** <br> (as of 12/31/25) | **AVERAGE ANNUAL TOTAL** <br> **RETURNS** <br> (as of 12/31/25) |
| &nbsp;&nbsp; **INVESTMENT** <br> **TYPE** | **PORTFOLIO AND ADVISER/SUBADVISER** | **CURRENT** <br> **EXPENSES** | **1 YEAR** | **5 YEAR** | **10 YEAR** |
| &nbsp;&nbsp; Moderately <br> Aggressive <br> Allocation<br>| **Thrivent Moderately Aggressive Allocation Portfolio** | 0.76%<sup>1</sup> | 15.46% | 8.30% | 9.69% |
| &nbsp;&nbsp; Moderately <br> Conservative <br> Allocation<br>| **Thrivent Moderately Conservative Allocation Portfolio** | 0.65%<sup>1</sup> | 12.10% | 4.49% | 6.04% |
| &nbsp;&nbsp; Money <br> Market - <br> Taxable<br>| **Thrivent Money Market Portfolio** | 0.31% | 4.06% | 3.05% | 1.93% |
| &nbsp;&nbsp; Multisector <br> Bond<br>| **Thrivent Multisector Bond Portfolio** | 0.74% | 7.93% | 2.43% | 3.47% |
| Real Estate | **Thrivent Real Estate Securities Portfolio** | 0.90% | 0.67% | 3.89% | 4.68% |
| &nbsp;&nbsp; Short-Term <br> Bond<br>| **Thrivent Short-Term Bond Portfolio** | 0.45% | 6.06% | 2.75% | 2.89% |
| Small Growth | **Thrivent Small Cap Growth Portfolio** | 0.94%<sup>1</sup> | 1.87% | 1.37% | N/A<sup>2</sup> |
| Small Blend | **Thrivent Small Cap Index Portfolio** | 0.24% | 5.80% | 7.06% | 9.57% |
| Small Blend | **Thrivent Small Cap Stock Portfolio** | 0.70% | 2.45% | 7.50% | 11.93% |

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<sup>1</sup>

Current expenses reflect temporary fee reductions.

<sup>2</sup>

The Fund is not showing Average Annual Total Returns information because the Fund commenced operation on 04/27/2018 and does not have annual returns for the period shown.

<sup>3</sup>

The Fund is not showing Average Annual Total Returns information because the Fund commenced operation on 04/29/2020 and does not have annual returns for the period shown.

**53**

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![](g106025thriventballard_2.jpg)

The Statement of Additional Information (SAI) dated April 30, 2026, contains more information about the Contract and Variable Account. The SAI has been filed with the SEC and is incorporated by reference into the prospectus. The SAI is available, without charge, upon request. You can view a copy of the SAI online at dfinview.com/Thrivent/VariableLife03. For a paper copy of the SAI, to request other information about the Contract, and to make other inquiries, you may call our Service Center at 1-800-847-4836 or you may send an email to mail@thrivent.com.

Reports and other information about Thrivent are available on the Securities Exchange Commission website at http://www.sec.gov. Copies of the information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

Thrivent is the marketing name for Thrivent Financial for Lutherans. Insurance products issued by Thrivent. Securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC, and a subsidiary of Thrivent. Licensed agent/producer of Thrivent. Registered representative of Thrivent Investment Management, Inc. Thrivent.com/disclosures.

Insurance products, securities and investment advisory services are provided by appropriately appointed and licensed financial advisors and professionals. Only individuals who are financial advisors are credentialed to provide investment advisory services. Visit Thrivent.com or FINRA's Broker Check for more information about our financial advisors.

Contract Form V-VQ-VUL(03) and state variations.

EDGAR Contract No. C000007342 21232PR R4-26

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**THRIVENT VARIABLE LIFE ACCOUNT I**

**Statement of Additional Information**

**Dated April 30, 2026**

**Flexible Premium Individual Variable Adjustable Life Insurance Contract**

**Offered By:**

**THRIVENT FINANCIAL FOR LUTHERANS** 

---

| | |
|:---|:---|
| **Service Center:** | **Corporate Office:** |
| 4321 North Ballard Road <br> Appleton, WI 54919-0001<br> Telephone: 800-847-4836<br> E-mail: mail@thrivent.com<br>| &nbsp;&nbsp; 600 Portland Avenue S., Suite 100<br> Minneapolis, MN 55415-4402<br> Telephone: 800-847-4836<br> E-mail: mail@thrivent.com<br>|

---

This Statement of Additional Information (SAI) contains additional information about the Registrant. The SAI has been filed with the SEC and is incorporated by reference into the prospectus. This SAI is not a prospectus and should be read together with the prospectus for the Contract dated April 30, 2026. Terms used in this SAI that are not otherwise defined herein have the same meanings given to them in the prospectus that is incorporated by reference. The SAI is available, without charge, upon request. You can view a copy of the SAI online at dfinview.com/Thrivent/VariableLife03. Alternatively, you can request a copy of the SAI, request other information about the Contract or make investor inquiries by calling our Service Center at 1-800-847-4836, or by sending an email to request to mail@thrivent.com.

---

| | |
|:---|:---|
| **TABLE OF CONTENTS** |  |
|  | **PAGE** |
| [GENERAL INFORMATION AND HISTORY](#xx_5300859c-bb50-4988-9280-af8744ebad89_1) | 2 |
| [SERVICES](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_1) | 3 |
| [PREMIUMS](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_1) | 3 |
| [ADDITIONAL INFORMATION ABOUT OPERATION OF CONTRACTS AND REGISTRANT](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_1) | 3 |
| [PRINCIPAL UNDERWRITER](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_2) | 4 |
| [ADDITIONAL INFORMATION ABOUT CHARGES](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_2) | 4 |
| [LAPSE AND REINSTATEMENT](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_3) | 5 |
| [LOANS](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_3) | 5 |
| [STANDARD AND POOR'S DISCLAIMER](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_4) | 6 |
| [MSCI DISCLAIMER](#xx_f9c1fc54-ceca-45cf-a09d-1a9b81c0dcd8_5) | 7 |
| [EXPERTS](#xx_11532acd-01dd-401e-a55e-e7eb26e2c2ae_1) | 8 |

---

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**GENERAL INFORMATION AND HISTORY**

**Depositor**

Thrivent, a fraternal benefit society owned by and operated for its members, was organized in 1902 under the laws of the State of Wisconsin. Thrivent is currently licensed to transact life insurance business in all 50 states and the District of Columbia. Thrivent began operating by its current name on or about May 21, 2002.

**Registrant**

Thrivent Variable Life Account I (the "Variable Account") is a separate account of ours, which was established on May 8, 1997 and the first investment was made on March 31, 1998. The Variable Account is registered with the Securities and Exchange Commission ("SEC") as a unit investment trust under the Investment Company Act of 1940. Such registration does not involve supervision by the SEC of the management or investment policies or practices of the Variable Account.

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**SERVICES**

**Service Agreements and Other Service Providers**

Assurance and audit services are currently provided by PricewaterhouseCoopers LLP, whose address is 45 South Seventh Street, Suite 3400, Minneapolis, Minnesota 55402.

There are no other service agreement contracts or service providers other than those described in this Statement of Additional Information. There is no custodian.

**PREMIUMS**

**Administrative Procedures**

If mandated under applicable law, we may be required to reject an initial premium.

Sometimes we are not able to accept premiums. We reserve the following rights to ensure compliance with provisions in the Internal Revenue Code to retain the tax deferral quality, or exclusion of increases in cash value and death benefits from gross income:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) to accept certain premiums;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) to refund premiums;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) to refund the earnings on premiums;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) to refund any necessary accumulated value; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) to increase death benefit.

**Automatic Premium Loans**

The Contract does not provide for automatic premium loans.

**ADDITIONAL INFORMATION ABOUT OPERATION OF CONTRACTS AND REGISTRANT**

**Incidental Benefits**

We offer Additional Benefits that you can add to your Contract. Certain riders are subject to age and underwriting requirements and may be added, if available, or cancelled at any time. The prospectus provides a detailed discussion regarding Additional Benefits.

**Surrender and Withdrawal**

The prospectus provides a detailed discussion regarding Surrenders and Withdrawals (referred to as Partial Surrenders and Loans in the Contract).

**Material Contracts Relating to the Registrant**

There are no material contracts relating to the operation or administration of the Variable Account not already disclosed.

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**PRINCIPAL UNDERWRITER**

**Identification**

Thrivent Investment Management Inc., 600 Portland Avenue S., Suite 100, Minneapolis, Minnesota 55415-4402 is a subsidiary of Thrivent and a registered broker-dealer. Thrivent Investment Management Inc. is a corporation organized under Delaware law in 1986 and it serves as the principal underwriter of the Contracts. Contracts are distributed by financial representatives of Thrivent Investment Management Inc. Thrivent Investment Management Inc. is a member of the Financial Industry Regulatory Authority (FINRA), and is a broker-dealer registered with the SEC under the Securities Exchange Act of 1934. It also serves as the principal underwriter of other variable accounts established by Thrivent. Thrivent Investment Management Inc.'s fiscal year operates on a calendar year basis.

**Offering and Commissions**

The Contract is no longer being sold, however, additional premium payments and coverage increases are allowed pursuant to Contract terms. Offerings of units issued under the terms of the Contracts are continuous.

The prospectus provides a detailed discussion regarding the determination of commissions and other compensation paid to financial representatives.

Thrivent paid underwriting commissions for the last three fiscal years as shown below. Of these amounts, Thrivent Investment Management Inc. retained $0.

---

| | | |
|:---|:---|:---|
| **2025** | **2024** | **2023** |
| $251645 | &nbsp;&nbsp; $415740 | &nbsp;&nbsp; $308768 |

---

**ADDITIONAL INFORMATION ABOUT CHARGES**

**Sales Load**

We charge a sales load, referred to as "Percent of Premium Charge" in the Contract, of 5% on each premium.

**Special Purchase Plans**

We currently do not have any programs such as group discounts that would result in a variation in, or elimination of, any applicable charges. In some situations, certain charges may be waived.

**Underwriting Procedures**

We require proof of insurability, which may include a medical examination. We offer people who do not use nicotine products the most favorable rates. If increased mortality risks are involved, there may be a higher cost of insurance charged. We reserve the right to change our underwriting requirements.

------

**Increases in Face Amount**

Subject to our underwriting guidelines and policies, the Contract Owner has the right to increase the Face Amount at any time before the Insured's 80th birthday. Increases in Face Amount will result in additional charges to cover the increased amount at risk. We compute charges at the existing rates at the time of increase. The cost of insurance rates for each increase will vary based on factors such as sex (in most states), risk class, age and the time elapsed since issue.

A new set of Decrease Charges will also apply to each increase in the Face Amount. The Decrease Charge applies to decreases in Face Amount during the first 10 years following an increase in Face Amount. The Decrease Charge remains level during the first five years following an increase in Face Amount, and then decreases each Contract Year to zero after the 10th year following an increase in Face Amount. Decrease Charges depend on the Insured's Issue Age, sex (in most states), amount of decrease in Face Amount, risk class and duration of the Contract. We will subtract the decrease first from any previous increases in the Face Amount, starting with the most recent, then as needed from the original Face Amount.

**LAPSE AND REINSTATEMENT**

The prospectus provides a detailed discussion regarding lapse and reinstatement provisions of the Contract.

**LOANS**

The prospectus provides a detailed discussion regarding loans.

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**STANDARD AND POOR'S DISCLAIMER**

The S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indexes are products of S&P Dow Jones Indices LLC or its affiliates ("SPDJI"), and have been licensed for use by Thrivent Financial for Lutherans ("Thrivent"). Standard & Poor's<sup>®</sup> and S&P<sup>®</sup> are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The trademarks have been licensed to SPDJI and have been sublicensed for use for certain purposes by Thrivent. Thrivent variable insurance products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, and of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of Thrivent variable insurance products or any member of the public regarding the advisability of purchasing variable insurance contracts generally or in the Thrivent variable insurance contracts particularly or the ability of the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indexes to track general market performance. S&P Dow Jones Indices only relationship to Thrivent with respect to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indexes is the licensing of the Indexes and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500, S&P MidCap 400, and S&P Small Cap 600 Indexes are determined, composed and calculated by S&P Dow Jones Indices without regard to Thrivent or the Thrivent variable insurance products. S&P Dow Jones Indices have no obligation to take the needs of Thrivent or the owners of the Thrivent variable insurance products into consideration in determining, composing or calculating the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indexes. S&P Dow Jones Indices is not responsible for and has not participated in the determination of the prices, and amount of the Thrivent variable insurance products or the timing of the issuance or sale of the Thrivent variable insurance contract or in the determination or calculation of the equation by which a Thrivent variable insurance product is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of the Thrivent variable insurance product. There is no assurance that investment products based on the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indexes will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

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**EXPERTS**

The statutory-basis financial statements as of December 31, 2025 and December 31, 2024 and for each of the three years in the period ended December 31, 2025 of Thrivent Financial for Lutherans and the financial statements as of December 31, 2025 and for each of the two years in the period ended December 31, 2025 of Thrivent Variable Life Account I included in this Statement of Additional Information have been so included in reliance on the reports of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

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**Report of Independent Auditors**

To the Board of Directors of Thrivent Financial for Lutherans

**Opinions**

We have audited the accompanying statutory-basis financial statements of Thrivent Financial for Lutherans (the "Company"), which comprise the statutory-basis statements of assets, liabilities and surplus as of December 31, 2025 and 2024, and the related statutory-basis statements of operations, of surplus, and of cash flow for each of the three years in the period ended December 31, 2025, including the related notes (collectively referred to as the "financial statements").

*Unmodified Opinion on Statutory Basis of Accounting*

In our opinion, the accompanying financial statements present fairly, in all material respects, the assets, liabilities and surplus of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025, in accordance with the accounting practices prescribed or permitted by the State of Wisconsin Office of the Commissioner of Insurance described in Note 1.

*Adverse Opinion on U.S. Generally Accepted Accounting Principles*

In our opinion, because of the significance of the matter discussed in the Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles section of our report, the accompanying financial statements do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of the Company as of December 31, 2025 and 2024, or the results of its operations or its cash flow for each of the three years in the period ended December 31, 2025.

**Basis for Opinions**

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (US GAAS). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

*Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles*

As described in Note 1 to the financial statements, the financial statements are prepared by the Company on the basis of the accounting practices prescribed or permitted by the State of Wisconsin Office of the Commissioner of Insurance, which is a basis of accounting other than accounting principles generally accepted in the United States of America.

The effects on the financial statements of the variances between the statutory basis of accounting described in Note 1 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material.

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**Report of Independent Auditors, continued**

**Responsibilities of Management for the Financial Statements**

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the accounting practices prescribed or permitted by the State of Wisconsin Office of the Commissioner of Insurance. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year after the date the financial statements are available to be issued.

**Auditors' Responsibilities for the Audit of the Financial Statements**

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with US GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with US GAAS, we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exercise professional judgment and maintain professional skepticism throughout the audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

/s/ PricewaterhouseCoopers LLP

Minneapolis, Minnesota <br>February 13, 2026

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**Thrivent Financial for Lutherans**

Statutory-Basis Statements of Assets, Liabilities and Surplus <br>As of December 31, 2025 and 2024 <br>(in millions)

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Admitted Assets** | **Admitted Assets** | **Admitted Assets** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | &nbsp;&nbsp; $54999 | &nbsp;&nbsp; $52993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks | &nbsp;&nbsp; 2230 | &nbsp;&nbsp; 1542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | &nbsp;&nbsp; 10960 | &nbsp;&nbsp; 10867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents and short-term investments | &nbsp;&nbsp; 1860 | &nbsp;&nbsp; 1437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract loans | &nbsp;&nbsp; 1085 | &nbsp;&nbsp; 1073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivables for securities | &nbsp;&nbsp; 391 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limited partnerships | &nbsp;&nbsp; 9240 | &nbsp;&nbsp; 10836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives | &nbsp;&nbsp; 742 | &nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets | &nbsp;&nbsp; 1175 | &nbsp;&nbsp; 688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total cash and invested assets | &nbsp;&nbsp; 82701 | &nbsp;&nbsp; 79733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued investment income | &nbsp;&nbsp; 606 | &nbsp;&nbsp; 615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due premiums and considerations | &nbsp;&nbsp; 129 | &nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Separate account assets | &nbsp;&nbsp; 38997 | &nbsp;&nbsp; 37442 |
| **Total Admitted Assets** | &nbsp;&nbsp; $122479 | &nbsp;&nbsp; $117954 |
| **Liabilities** | **Liabilities** | **Liabilities** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggregate reserves for life, annuity and health contracts | &nbsp;&nbsp; $57788 | &nbsp;&nbsp; $55220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposit liabilities | &nbsp;&nbsp; 5273 | &nbsp;&nbsp; 5566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract claims | &nbsp;&nbsp; 524 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Member dividends payable | &nbsp;&nbsp; 443 | &nbsp;&nbsp; 436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest maintenance reserve | &nbsp;&nbsp; 347 | &nbsp;&nbsp; 328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset valuation reserve | &nbsp;&nbsp; 2892 | &nbsp;&nbsp; 3030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers due to/(from) separate accounts, net | &nbsp;&nbsp; (730)<br>| &nbsp;&nbsp; (612)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for securities | &nbsp;&nbsp; 610 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities lending obligation | &nbsp;&nbsp; 551 | &nbsp;&nbsp; 553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | &nbsp;&nbsp; 852 | &nbsp;&nbsp; 879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Separate account liabilities | &nbsp;&nbsp; 38857 | &nbsp;&nbsp; 37324 |
| **Total Liabilities** | &nbsp;&nbsp; $107407 | &nbsp;&nbsp; $103426 |
| **Surplus** | **Surplus** | **Surplus** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unassigned funds | &nbsp;&nbsp; $15064 | &nbsp;&nbsp; $14513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other surplus | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 15 |
| **Total Surplus** | &nbsp;&nbsp; $15072 | &nbsp;&nbsp; $14528 |
| **Total Liabilities and Surplus** | &nbsp;&nbsp; $122479 | &nbsp;&nbsp; $117954 |

---

The accompanying notes are an integral part of these statutory-basis financial statements.

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**Thrivent Financial for Lutherans**

Statutory-Basis Statements of Operations <br>For the Years Ended December 31, 2025, 2024 and 2023 <br>(in millions)

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| **Revenues** | **Revenues** | **Revenues** | **Revenues** |
| Premiums | &nbsp;&nbsp; $5630 | &nbsp;&nbsp; $5948 | &nbsp;&nbsp; $5520 |
| Considerations for supplementary contracts with life contingencies | &nbsp;&nbsp; 193 | &nbsp;&nbsp; 454 | &nbsp;&nbsp; 230 |
| Net investment income | &nbsp;&nbsp; 3822 | &nbsp;&nbsp; 3830 | &nbsp;&nbsp; 3233 |
| Separate account fees | &nbsp;&nbsp; 779 | &nbsp;&nbsp; 769 | &nbsp;&nbsp; 739 |
| Amortization of interest maintenance reserve | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 88 |
| Other revenues | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 68 |
| **Total Revenues** | &nbsp;&nbsp; $10534 | &nbsp;&nbsp; $11123 | &nbsp;&nbsp; $9878 |
| **Benefits and Expenses** | **Benefits and Expenses** | **Benefits and Expenses** | **Benefits and Expenses** |
| Death benefits | &nbsp;&nbsp; $1335 | &nbsp;&nbsp; $1315 | &nbsp;&nbsp; $1289 |
| Surrender benefits | &nbsp;&nbsp; 4316 | &nbsp;&nbsp; 4700 | &nbsp;&nbsp; 4472 |
| Change in reserves | &nbsp;&nbsp; 2634 | &nbsp;&nbsp; 2796 | &nbsp;&nbsp; 1640 |
| Other benefits | &nbsp;&nbsp; 2439 | &nbsp;&nbsp; 2540 | &nbsp;&nbsp; 2237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total benefits | &nbsp;&nbsp; 10724 | &nbsp;&nbsp; 11351 | &nbsp;&nbsp; 9638 |
| Commissions | &nbsp;&nbsp; 383 | &nbsp;&nbsp; 351 | &nbsp;&nbsp; 280 |
| General insurance expenses | &nbsp;&nbsp; 1064 | &nbsp;&nbsp; 990 | &nbsp;&nbsp; 950 |
| Fraternal benefits and expenses | &nbsp;&nbsp; 280 | &nbsp;&nbsp; 223 | &nbsp;&nbsp; 169 |
| Transfers due to/(from) separate accounts, net | &nbsp;&nbsp; (2866)<br>| &nbsp;&nbsp; (2948)<br>| &nbsp;&nbsp; (2153)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses and net transfers | &nbsp;&nbsp; (1139)<br>| &nbsp;&nbsp; (1384)<br>| &nbsp;&nbsp; (754)<br>|
| **Total Benefits and Expenses** | &nbsp;&nbsp; $9585 | &nbsp;&nbsp; $9967 | &nbsp;&nbsp; $8884 |
| **Gain from Operations before Dividends and Capital Gains and Losses** | &nbsp;&nbsp; $949 | &nbsp;&nbsp; $1156 | &nbsp;&nbsp; $994 |
| Member dividends | &nbsp;&nbsp; 443 | &nbsp;&nbsp; 436 | &nbsp;&nbsp; 419 |
| **Gain from Operations before Capital Gains and Losses** | &nbsp;&nbsp; $506 | &nbsp;&nbsp; $720 | &nbsp;&nbsp; $575 |
| Realized capital gains and (losses), net | &nbsp;&nbsp; 209 | &nbsp;&nbsp; (122)<br>| &nbsp;&nbsp; (62)<br>|
| **Net Income** | &nbsp;&nbsp; $715 | &nbsp;&nbsp; $598 | &nbsp;&nbsp; $513 |

---

The accompanying notes are an integral part of these statutory-basis financial statements.

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**Thrivent Financial for Lutherans**

Statutory-Basis Statements of Surplus <br>For the Years Ended December 31, 2025, 2024 and 2023 <br>(in millions)

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| **Surplus, Beginning of Year** | &nbsp;&nbsp; $14528 | &nbsp;&nbsp; $14287 | &nbsp;&nbsp; $13768 |
| Prior year adjustment | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 40 |
| **Adjusted Balance – Beginning of Year** | &nbsp;&nbsp; $14528 | &nbsp;&nbsp; $14287 | &nbsp;&nbsp; $13808 |
| Net income | &nbsp;&nbsp; 715 | &nbsp;&nbsp; 598 | &nbsp;&nbsp; 513 |
| Change in unrealized investment gains and losses | &nbsp;&nbsp; (442)<br>| &nbsp;&nbsp; (89)<br>| &nbsp;&nbsp; (20)<br>|
| Change in non-admitted assets | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; (131)<br>| &nbsp;&nbsp; 32 |
| Change in asset valuation reserve | &nbsp;&nbsp; 138 | &nbsp;&nbsp; (243)<br>| &nbsp;&nbsp; (134)<br>|
| Change in surplus of separate account | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 22 |
| Deferred gain on Medicare supplement reinsurance | &nbsp;&nbsp; (8)<br>| &nbsp;&nbsp; (8)<br>| &nbsp;&nbsp; (8)<br>|
| Pension liability adjustment | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 98 | &nbsp;&nbsp; 74 |
| Change in reserve valuation basis | &nbsp;&nbsp; 67 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| **Surplus, End of Year** | &nbsp;&nbsp; $15072 | &nbsp;&nbsp; $14528 | &nbsp;&nbsp; $14287 |

---

The accompanying notes are an integral part of these statutory-basis financial statements.

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**Thrivent Financial for Lutherans**

Statutory-Basis Statements of Cash Flow <br>For the Years Ended December 31, 2025, 2024 and 2023 <br>(in millions)

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| **Cash from Operations** | **Cash from Operations** | **Cash from Operations** | **Cash from Operations** |
| Premiums | &nbsp;&nbsp; $5818 | &nbsp;&nbsp; $6396 | &nbsp;&nbsp; $5743 |
| Net investment income | &nbsp;&nbsp; 3137 | &nbsp;&nbsp; 2915 | &nbsp;&nbsp; 2672 |
| Other revenues | &nbsp;&nbsp; 834 | &nbsp;&nbsp; 836 | &nbsp;&nbsp; 807 |
|  | &nbsp;&nbsp; 9789 | &nbsp;&nbsp; 10147 | &nbsp;&nbsp; 9222 |
| Benefit and loss-related payments | &nbsp;&nbsp; (8038)<br>| &nbsp;&nbsp; (8598)<br>| &nbsp;&nbsp; (8010)<br>|
| Transfers (to)/from separate account, net | &nbsp;&nbsp; 2748 | &nbsp;&nbsp; 2899 | &nbsp;&nbsp; 2115 |
| Commissions and expenses | &nbsp;&nbsp; (1710)<br>| &nbsp;&nbsp; (1556)<br>| &nbsp;&nbsp; (1383)<br>|
| Member dividends | &nbsp;&nbsp; (436)<br>| &nbsp;&nbsp; (420)<br>| &nbsp;&nbsp; (376)<br>|
| Other | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 3 |
| **Net Cash from Operations** | &nbsp;&nbsp; $2353 | &nbsp;&nbsp; $2472 | &nbsp;&nbsp; $1571 |
| **Cash from Investments** | **Cash from Investments** | **Cash from Investments** | **Cash from Investments** |
| Proceeds from investments sold, matured or repaid: | Proceeds from investments sold, matured or repaid: | Proceeds from investments sold, matured or repaid: | Proceeds from investments sold, matured or repaid: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | &nbsp;&nbsp; $9386 | &nbsp;&nbsp; $6948 | &nbsp;&nbsp; $6153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks | &nbsp;&nbsp; 495 | &nbsp;&nbsp; 913 | &nbsp;&nbsp; 1142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | &nbsp;&nbsp; 932 | &nbsp;&nbsp; 705 | &nbsp;&nbsp; 661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limited partnerships | &nbsp;&nbsp; 3802 | &nbsp;&nbsp; 1305 | &nbsp;&nbsp; 821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | &nbsp;&nbsp; 378 | &nbsp;&nbsp; 227 | &nbsp;&nbsp; 449 |
|  | &nbsp;&nbsp; 14993 | &nbsp;&nbsp; 10098 | &nbsp;&nbsp; 9226 |
| Cost of investments acquired or originated: | Cost of investments acquired or originated: | Cost of investments acquired or originated: | Cost of investments acquired or originated: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | &nbsp;&nbsp; (11490)<br>| &nbsp;&nbsp; (9331)<br>| &nbsp;&nbsp; (6758)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks | &nbsp;&nbsp; (956)<br>| &nbsp;&nbsp; (985)<br>| &nbsp;&nbsp; (616)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | &nbsp;&nbsp; (1026)<br>| &nbsp;&nbsp; (710)<br>| &nbsp;&nbsp; (812)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limited partnerships | &nbsp;&nbsp; (1954)<br>| &nbsp;&nbsp; (1731)<br>| &nbsp;&nbsp; (1787)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | &nbsp;&nbsp; (716)<br>| &nbsp;&nbsp; (304)<br>| &nbsp;&nbsp; (393)<br>|
|  | &nbsp;&nbsp; (16142)<br>| &nbsp;&nbsp; (13061)<br>| &nbsp;&nbsp; (10366)<br>|
| Mortgage dollar rolls | &nbsp;&nbsp; (346)<br>| &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; (67)<br>|
| Change in net amounts due (to)/from broker | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (55)<br>|
| Change in collateral held for securities lending | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; (91)<br>| &nbsp;&nbsp; 352 |
| Change in contract loans | &nbsp;&nbsp; (12)<br>| &nbsp;&nbsp; (9)<br>| &nbsp;&nbsp; (17)<br>|
| **Net Cash from Investments** | &nbsp;&nbsp; $(1509 )<br>| &nbsp;&nbsp; $(3065 )<br>| &nbsp;&nbsp; $(926)<br>|
| **Cash from Financing and Miscellaneous Sources** | **Cash from Financing and Miscellaneous Sources** | **Cash from Financing and Miscellaneous Sources** | **Cash from Financing and Miscellaneous Sources** |
| Net deposits (payments) on deposit-type contracts | &nbsp;&nbsp; $(293)<br>| &nbsp;&nbsp; $19 | &nbsp;&nbsp; $23 |
| Other | &nbsp;&nbsp; (128)<br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; 152 |
| **Net Cash from Financing and Miscellaneous Sources** | &nbsp;&nbsp; $(421)<br>| &nbsp;&nbsp; $22 | &nbsp;&nbsp; $175 |
| **Net Change in Cash, Cash Equivalents and Short-Term Investments** | &nbsp;&nbsp; $423 | &nbsp;&nbsp; $(571)<br>| &nbsp;&nbsp; $820 |
| Cash, Cash Equivalents and Short-Term Investments, Beginning of Year | &nbsp;&nbsp; $1437 | &nbsp;&nbsp; $2008 | &nbsp;&nbsp; $1188 |
| **Cash, Cash Equivalents and Short-Term Investments, End of Year** | &nbsp;&nbsp; $1860 | &nbsp;&nbsp; $1437 | &nbsp;&nbsp; $2008 |

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The accompanying notes are an integral part of these statutory-basis financial statements.

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**Thrivent Financial for Lutherans**

Statutory-Basis Statements of Cash Flow <br>For the Years Ended December 31, 2025, 2024 and 2023 <br>(in millions)

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| <u>Supplemental disclosures for non-cash transactions not included above</u> | <u>Supplemental disclosures for non-cash transactions not included above</u> | <u>Supplemental disclosures for non-cash transactions not included above</u> | <u>Supplemental disclosures for non-cash transactions not included above</u> |
| Refinanced mortgage loans and mutual fund mortgage transfers | &nbsp;&nbsp; $79 | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $74 |
| Transferred collateral on collateralized fund obligation | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; 739 |
| FHLB conversion from borrowed money to funding agreements | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $900 |
| Mortgage foreclosure and capital contribution to Gold Ring Holdings, LLC | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $16 | &nbsp;&nbsp; $— <br>|
| Transfer from White Rose Opportunity Fund distribution | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $53 | &nbsp;&nbsp; $— <br>|
| Mortgage dollar rolls and tax free exchange purchases | &nbsp;&nbsp; $(7733 )<br>| &nbsp;&nbsp; $(2382 )<br>| &nbsp;&nbsp; $(1370 )<br>|
| Mortgage dollar rolls and tax free exchange sales | &nbsp;&nbsp; $7387 | &nbsp;&nbsp; $2380 | &nbsp;&nbsp; $1303 |
| CASL 2024-4 CLUB student loan purchase | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $(1842 )<br>| &nbsp;&nbsp; $— <br>|
| CASL 2024-4 CLUB student loan sale | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $1842 | &nbsp;&nbsp; $— <br>|
| 2025 Badger FBN purchases | &nbsp;&nbsp; $(2286 )<br>| &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $— <br>|
| 2025 Badger FBN sales | &nbsp;&nbsp; $2286 | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $— <br>|
| Non-cash contributions to Holdings, Inc. | &nbsp;&nbsp; $6 | &nbsp;&nbsp; $— <br>| &nbsp;&nbsp; $— <br>|
| Non-cash Initial Public Offering reverse stock split | &nbsp;&nbsp; $30 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

The accompanying notes are an integral part of these statutory-basis financial statements.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements

For the Years Ended December 31, 2025, 2024 and 2023

**1. Nature Of Operations And Significant Accounting Policies**

**<u>Nature of Operations</u>**

Thrivent Financial for Lutherans ("Thrivent") is a fraternal benefit society that provides life insurance, retirement products, disability income, long-term care insurance and Medicare supplement insurance to members. Thrivent is licensed to conduct business throughout the United States and distributes products to members primarily through a network of career financial representatives. Thrivent's members are offered additional financial products and services, such as investment funds and trust services, through subsidiaries and affiliates.

**<u>Significant Accounting Policies</u>** 

The accompanying statutory-basis financial statements have been prepared in accordance with statutory accounting practices ("SAP") prescribed or permitted by the State of Wisconsin Office of the Commissioner of Insurance. Thrivent has no prescribed or permitted practices.

The State of Wisconsin Office of the Commissioner of Insurance recognizes only SAP for determining and reporting the financial condition and results of operations of a fraternal benefit society in order to determine its solvency under Wisconsin's Insurance Laws. The National Association of Insurance Commissioners' ("NAIC") *Accounting Practices and Procedures Manual* ("NAIC SAP") has been adopted as a component of prescribed or permitted practices by the State of Wisconsin. NAIC SAP is comprised of the Preamble, the Statements of Statutory Accounting Principles ("SSAP"), and Appendices.

The significant accounting practices used in preparation of the statutory-basis financial statements are summarized as follows:

***Investments***

*<u>Bonds:</u>* Bonds are generally carried at amortized cost, depending on the nature of the security and as prescribed by NAIC guidelines. Discounts or premiums on bonds are amortized over the term of the securities using the modified scientific method. Interest income is recognized when earned. Bond exchange traded funds ("ETFs") on the Securities Valuation Office ("SVO") Identified Funds list are stated using the fair value measurement method.

*<u>Stocks:</u>* Common stocks of unaffiliated companies are stated at fair value. Common stocks of unconsolidated subsidiaries are carried at the stock's equity basis. Investments in mutual funds are carried at net asset value ("NAV"). Preferred stocks are carried at market value or amortized cost depending on the preferred stock's convertible characteristics and NAIC subgroup. Issues rated not in good standing are reported at lower of amortized cost or fair market value. Redeemable preferred stocks are reported at amortized costs unless they have an NAIC designation of 4, 5, or 6 which are reported at the lower of amortized cost or fair value. Perpetual preferred stocks are reported at fair value, not to exceed the current call price for the stock.

*<u>Mortgage Loans:</u>* Mortgage loans are generally carried at unpaid principal balances less valuation adjustments. Interest income is accrued on the unpaid principal balance using the loan's contractual interest rate. There are currently no mortgage loans with a discount or premium. Interest income and amortization of premiums and discounts are recorded as a component of net investment income along with prepayment fees and mortgage loan fees.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**1. Nature Of Operations And Significant Accounting Policies, continued**<br>

*<u>Real Estate:</u>* Home office real estate is valued at original cost, plus capital expenditures less accumulated depreciation and encumbrances. Depreciation expense is determined using the straight-line method over the estimated useful life of the properties. Real estate expected to be disposed is carried at the lower of cost or fair value, less estimated costs to sell.

*<u>Cash, Cash equivalents and Short-term Investments:</u>* Cash and cash equivalents include demand deposits, highly liquid investments purchased with an original maturity of three months or less and investments in money market mutual funds. Demand deposits and highly liquid investments are carried at amortized cost while investments in money market mutual funds are carried at fair value. Short-term investments have contractual maturities of one year or less at the time of acquisition. Included in short-term investments are commercial paper and agency notes, which are carried at amortized cost.

*<u>Contract Loans:</u>* Contract loans are generally carried at the loans' aggregate unpaid balances. Contract loans are collateralized by the cash surrender value of the associated insurance contracts.

*<u>Limited Partnerships</u>*<u>:</u> Limited partnerships consist primarily of equity limited partnerships which are generally valued using NAV as a practical expedient. For distributions received, income is recognized to the extent they do not exceed undistributed earnings. Distributions received in excess of undistributed earnings are recorded as a return of capital.

*<u>Other Invested Assets:</u>* Other invested assets include residual tranches, non-collateral loans, and surplus notes. Residual tranches are carried at either the lower of amortized cost or fair value. Interest income on residual tranches is recorded under the effective yield method using the Allowable Earned Yield, capped by the amount of cash distributions received. Non-collateral loans and surplus notes are carried at amortized cost.

*<u>Derivatives:</u>* Derivatives consist primarily of mortgage dollar rolls, call spread options, foreign currency swaps, and futures and are primarily carried at fair value. Thrivent uses a mortgage dollar roll program to enhance the yield on the mortgage-backed security ("MBS") portfolio. Mortgage dollar rolls are transactions whereby Thrivent sells an MBS to a counterparty and subsequently enters into a commitment to purchase another MBS security at a later date. Thrivent's mortgage dollar roll program generally includes a series of mortgage dollar rolls extending for more than a year. Thrivent had $509 million and $161 million in the mortgage dollar roll program as of December 31, 2025 and 2024, respectively. Mortgage dollar rolls are reported as bonds in 2024 within the Statements of Assets, Liabilities, and Surplus. As a result of the adoption of an accounting pronouncement in 2025, mortgage dollar rolls are now reported as derivatives in 2025. Given this reclassification, derivatives are reported separately in the Statements of Assets, Liabilities, and Surplus. Certain prior period amounts related to derivatives have been reclassified from other invested assets to derivatives.

*<u>Securities Lending:</u>* Securities loaned under Thrivent's securities lending agreement are carried at amortized cost or fair value, depending on the nature of the security and as prescribed by NAIC guidelines. Thrivent generally receives cash collateral in an amount that is in excess of the market value of the securities loaned, and the cash collateral is invested in highly-liquid, highly rated securities which are included in bonds and cash, cash equivalents and short-term investments. A liability is also recognized for the amount of the collateral. Market values of securities loaned and corresponding collateral are monitored daily, and additional collateral is obtained as necessary. Thrivent requires a minimum level of collateral to be held for loaned securities.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**1. Nature Of Operations And Significant Accounting Policies, continued**<br>

*<u>Offsetting Assets and Liabilities:</u>* Thrivent presents securities lending agreements and derivatives on a gross basis in the statutory-basis financial statements.

*<u>Unrealized Investment Gains and Losses:</u>* Unrealized investment gains and losses include changes in fair value of bonds, unaffiliated stocks, affiliated common stocks, affiliated mutual funds, ETFs, limited partnerships, derivatives and other invested assets and are reported as a direct increase or decrease to surplus.

*<u>Realized Capital Gains and Losses:</u>* Realized capital gains and losses on sales of investments are determined using the specific identification method for bonds and average cost method for stocks.

Thrivent's investments are periodically reviewed, and those securities where the current fair value is less than amortized cost are evaluated for indicators that show the decline in value is other-than-temporary. The review includes an evaluation of each security issuer's creditworthiness, such as the ability to generate operating cash flow while remaining current on all debt obligations, and any changes in credit ratings from third party agencies. Other factors include the severity and duration of the unrealized loss, Thrivent's ability to collect all amounts due according to the contractual terms of the debt security and Thrivent's ability and intent to hold the security for a period of time sufficient to allow for any anticipated recovery in the market.

The potential need to sell securities in an unrealized loss position which have no other indications of other-than-temporary impairment is evaluated based on the current market environment, near-term and long-term asset liability management strategies and target allocation strategies for various asset classes. Generally, Thrivent has the ability and intent to hold securities in an unrealized loss position for a period of time sufficient for the security to recover in value. Investments that are determined to be other-than-temporarily impaired are written down, primarily to fair value, and the write-down is included in realized capital gains and losses in the Statutory-Basis Statements of Operations. If, in response to changed conditions in the capital markets, Thrivent decides to sell a security in an unrealized loss position, a realized loss is recognized in the period that the decision is made to sell that security.

Certain realized capital gains and losses on fixed income securities sold prior to maturity are transferred to the interest maintenance reserve ("IMR").

*<u>Fair Value of Financial Instruments</u>*<u>:</u> In estimating the fair values for financial instruments, the significance of observable and unobservable inputs used to determine fair value is taken into consideration. Each of the financial instruments has been classified into one of three categories based on the evaluation. A Level 1 financial instrument is valued using quoted prices for identical assets in active markets. A Level 2 financial instrument is valued based on quoted prices for similar instruments in active markets that are accessible, quoted prices for identical or similar instruments in markets that are not active, or model-derived valuations where the significant value driver inputs are observable. A Level 3 financial instrument is valued using significant inputs that are unobservable.

***Separate Accounts***

Separate account assets and liabilities represent funds that are separately administered for variable annuity and variable life contracts, for which the contract holder, rather than Thrivent bears the investment risk. Fees charged on separate account contract holder account value, include mortality and expense charges, rider fees, and advisor fees and are recognized when due. Separate account assets, which consist of investment funds, are carried at fair value based on published NAVs and include the value of seed money. Separate account liability values are not guaranteed to the contract holder; however, general account reserves include provisions for the

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**1. Nature Of Operations And Significant Accounting Policies, continued**<br>

guaranteed minimum death and living benefits contained in the contracts. Reserve assumptions for these benefits are discussed in the Aggregate Reserves for Life, Annuity and Health Contracts section.

***Aggregate Reserves for Life, Annuity and Health Contracts***

Reserves for life contracts issued prior to 2020 are calculated primarily using the Commissioners' Reserve Valuation Method generally based upon the 1941, 1958, 1980, 2001, and 2017 Commissioners' Standard Ordinary and American Experience Mortality Tables with assumed interest rates ranging from 2.5% to 5.5%. Reserves on contracts issued on a substandard basis are valued using the valuation mortality rates for the substandard rating. Reserves for life contracts issued on or after January 1, 2020 and Term Life contracts issued from January 1, 2017 through December 31, 2019, are calculated using the Principles-Based Reserve (PBR) approach described in VM-20. The reserve held is the greatest of two model-based reserve calculations and a formulaic calculation called the Net Premium Reserve ("NPR").

Reserves for fixed annuities, supplementary contracts with life contingencies and other benefits are computed using recognized and accepted mortality tables and methods, which equal or exceed the minimum reserves calculated under the Commissioners' Annuity Reserve Valuation Method. Fixed indexed annuity reserves are calculated according to the Black-Scholes Projection Method described in Actuarial Guideline 35. Reserves for variable annuities with guaranteed death and living benefits, regardless of issue date, are computed on an aggregate basis using the requirements specified in VM-21, including assumptions for guaranteed minimum death benefits and living benefits. This approach uses the greatest of two stochastic modeling approaches (company prudent assumptions or industry prescribed assumptions) but is never less than the cash surrender value floor.

Accident and health contract reserves are generally calculated using the two-year preliminary term, one-year preliminary term and the net level premium methods based upon various morbidity tables. In addition, for long-term care and disability income products, a premium deficiency reserve is held to the extent future premiums and current reserves are less than the value of future expected claim payments and expenses.

The reserve assumptions inherent in these approaches are designed to be sufficient to provide for all contractual benefits. Thrivent waives deduction of deferred fractional premiums upon the death of insureds and returns any portion of the final premium beyond the date of death. Surrender values are not promised in excess of the legally computed reserves.

***Deposit Liabilities***

Deposit liabilities have been established on certain annuity and supplemental contracts, as well as funding agreements issued to the Federal Home Loan Bank of Chicago ("FHLB"), that do not subject Thrivent to mortality and morbidity risk. Changes in future benefits on these deposit-type contracts are classified as deposit-type transactions and thereby excluded from net additions to contract reserves.

***Contract Claims*** 

Claim liabilities are established in amounts estimated to cover incurred claims. These liabilities are based on individual case estimates for reported claims and estimates of unreported claims based on past experience.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**1. Nature Of Operations And Significant Accounting Policies, continued**<br>

***Interest Maintenance Reserve*** 

Thrivent is required to maintain an IMR which is primarily used to defer certain realized capital gains and losses on fixed income investments as prescribed by the NAIC in SSAP No. 7. (Asset Valuation Reserve and Interest Maintenance Reserve). Net realized capital gains and losses deferred to IMR are amortized into investment income over the estimated remaining term to maturity of the investment sold.

***Asset Valuation Reserve***

Thrivent is required to maintain an asset valuation reserve ("AVR"), which is a liability calculated using a formula prescribed by the NAIC in SSAP No. 7. The AVR is a general provision for future potential losses in the value of investments, unrelated to changes in interest rates. Increases or decreases in the AVR are reported as direct adjustments to surplus in the Statutory-Basis Statements of Surplus.

***Borrowed Money*** 

Borrowed money represents advances from Federal Home Loan Bank. The liability is primarily carried at an amount equal to unpaid principal balance, including accrued interest, net of unamortized discount or premium.

***Premiums and Considerations***

Traditional life insurance premiums are recognized as revenue when due. Variable life, universal life, annuity premiums and considerations of supplemental contracts with life contingencies are recognized when received. Health insurance premiums are recognized pro rata over the terms of the policies. Thrivent presents the impact of internal (1035 exchanges) on a net basis within the Summary of Operations.

***Fraternal Benefits and Expenses***

Fraternal benefits and expenses include all fraternal activities and expenses incurred to provide or administer fraternal benefits and programs related to Thrivent's fraternal charter. This includes activities and costs necessary to maintain Thrivent's fraternal lodge system. Thrivent conducts fraternal activities primarily through a lodge system where members participate in locally sponsored fraternal activities. Lodge activities are designed to create an opportunity for impact via social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes for the benefit of members and the public and are supported through a variety of lodge programs and services.

***Dividends to Members***

The majority of Thrivent's insurance products are participating in nature. Dividends on these policies to be paid to members in the subsequent 12 months are reflected in the Statutory-Basis Statements of Operations for the current year. Dividends are not currently being paid on most health insurance nor annuity contracts. Dividend scales are approved annually by Thrivent's Board of Directors.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**1. Nature Of Operations And Significant Accounting Policies, continued**<br>

***Income Taxes***

Thrivent, as a fraternal benefit society, qualifies as a tax-exempt organization under the Internal Revenue Code. Accordingly, income earned by Thrivent is generally exempt from taxation; therefore, no provision for income taxes has been recorded. Thrivent may pay income taxes on certain unrelated business activity such as debt-financed income.

***Basis of Presentation***

The accompanying statutory-basis financial statements of Thrivent have been prepared in accordance with accounting practices prescribed or permitted by the State of Wisconsin Office of the Commissioner of Insurance, which practices differ from U.S. generally accepted accounting principles ("GAAP"). Differences between GAAP financial statements and statutory-basis financial statements as of December 31, 2025 and 2024 and for the three years in the period ended December 31, 2025, have not been quantified but are presumed to be material.

The following describes the more significant statutory accounting policies that are different from GAAP accounting policies:

*Bonds and Preferred Stocks****:*** For GAAP purposes, investments in bonds and preferred stocks are reported at fair value with the change in fair value reported as a separate component of comprehensive income for available-for-sale securities and reported as realized gains or losses for trading securities.

*Common Stocks:* For GAAP purposes, investments in common stocks are reported at fair value with unrealized gains and losses reported as a component of net income.

*Limited Partnerships:* For GAAP purposes, the equity method reports the change in the equity value of the limited partnerships through earnings as a component of net investment income.

*Acquisition Costs:* For GAAP purposes, costs incurred that are directly related to the successful acquisition and issuance of new or renewal insurance contracts are deferred to the extent such costs are deemed recoverable from future profits and amortized on a constant level basis.

*Contract Liabilities:* For GAAP purposes, liabilities for future contract benefits and expenses are estimated based on expected experience or actual account balances.

*Non-Admitted Assets:* For GAAP purposes, certain assets, primarily furniture, equipment, receivables over 90 days old, values of certain entities and equity-method investments where audits are not performed, overfunded plan assets on qualified benefit plans and agents' debit balances, are not charged directly to equity and are not excluded from the balance sheet.

*Interest Maintenance Reserve:* For GAAP purposes, an IMR is not maintained.

*Asset Valuation Reserve:* For GAAP purposes, an AVR is not maintained.

*Premiums and Withdrawals:* For GAAP purposes, funds deposited and withdrawn on universal life and investment-type contracts are not recorded in the income statement.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**1. Nature Of Operations And Significant Accounting Policies, continued**<br>

*Consolidation:* For GAAP purposes, controlled subsidiaries are consolidated into the results of their parent.

***Use of Estimates***

The preparation of statutory-basis financial statements in conformity with SAP requires management to make estimates and assumptions that affect the amounts reported in the statutory-basis financial statements and accompanying notes. The more significant estimates relate to fair values of investments, reserves for life, health and annuity contracts and pension and other retirement benefit liabilities. Actual results could differ from those estimates.

***New Accounting Guidance***

In 2025, Thrivent adopted revisions to SSAP No. 26 (Bonds) and SSAP No. 43 (Asset-Backed Securities) for the principles-based bond definition, which included consideration of factors to determine whether certain investments qualify for reporting on the statutory financial statements as a bond. Additionally, the guidance revised SSAP No. 2 (Cash, Cash Equivalents, Drafts, and Short-Term Investments) to preclude asset-backed securities, mortgage loans and other invested assets from being reported as cash equivalents or short-term investments. The guidance is effective beginning January 1, 2025 and did not have a material impact on Thrivent's financial statements.

In 2025, Thrivent adopted updated guidance for residual tranches under SSAP No. 21 (Other Admitted Assets). Unrealized gains or losses as of December 31, 2024, were recognized as realized, with the market value becoming the January 1, 2025 cost basis. Interest income must follow the effective yield method using Allowable Earned Yield (AEY), capped by cash distributions. Thrivent reported a net realized gain of $15 million upon adoption.

In 2025, Thrivent adopted revisions to SSAP No. 43 (Asset-Backed Securities) that allow use of either prospective or retrospective methods for adjusting cash flows and prepayment assumptions. Thrivent elected the prospective method for all asset-backed securities effective January 1, 2025, with no impact to surplus.

In 2023, Thrivent adopted modifications to SSAP No. 34 (*Investment Income Due and Accrued*). The key revisions include adding new disclosures for Aggregate Deferred Interest and Paid-In-Kind (PIK) interest. The guidance is effective beginning December 31, 2023 and did not have a material impact on Thrivent's financial statements.

**<u>Prior Year Adjustment</u>** 

During 2023, Thrivent identified an adjustment impacting the beginning of year surplus balance related to deferred annuity contracts. As a result, reserves were decreased and surplus was increased by $40 million. Thrivent reported an increase to opening surplus of $40 million in 2023.

**<u>Subsequent Events</u>**

Thrivent evaluated events or transactions that may have occurred after the Statutory-Basis Statements of Assets, Liabilities and Surplus date for potential recognition or disclosure through February 13, 2026, the date the statutory-basis financial statements were available to be issued. There were no subsequent events or transactions which required recognition for disclosure.

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**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued<br>

**2. Investments**

**<u>Bonds</u>**

The admitted value and fair value of Thrivent's investment in bonds are summarized below (in millions):

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Admitted**<br> **Value** | **Gross Unrealized** | **Gross Unrealized** | **Fair**<br> **Value** |
|  | **Admitted**<br> **Value** | **Gains** | **Losses** | **Fair**<br> **Value** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| U.S. Government Obligations | &nbsp;&nbsp; $1648 | &nbsp;&nbsp; $11 | &nbsp;&nbsp; $(117)<br>| &nbsp;&nbsp; $1542 |
| Other U.S. Government Obligations | &nbsp;&nbsp; 178 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 178 |
| Non-U.S. Sovereign Jurisdiction Securities | &nbsp;&nbsp; 199 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; (13)<br>| &nbsp;&nbsp; 189 |
| Municipal Bonds – General Obligations (Direct and Guaranteed) | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 48 |
| Municipal Bonds – Special Revenue | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 77 |
| Project Finance Bonds Issued by Operating Entities | &nbsp;&nbsp; 1646 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; (95)<br>| &nbsp;&nbsp; 1570 |
| Corporate Bonds | &nbsp;&nbsp; 33967 | &nbsp;&nbsp; 737 | &nbsp;&nbsp; (1957)<br>| &nbsp;&nbsp; 32747 |
| Single Entity Backed Obligations | &nbsp;&nbsp; 642 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; (20)<br>| &nbsp;&nbsp; 628 |
| SVO-Identified Bond Exchange Traded Funds – Fair Value | &nbsp;&nbsp; 449 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 449 |
| Bonds Issued by Funds Representing Operating Entities | &nbsp;&nbsp; 4655 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; (158)<br>| &nbsp;&nbsp; 4545 |
| Bank Loans – Acquired | &nbsp;&nbsp; 245 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Issuer Credit Obligations | &nbsp;&nbsp; $43746 | &nbsp;&nbsp; $837 | &nbsp;&nbsp; $(2364)<br>| &nbsp;&nbsp; $42219 |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| Financial ABS – Agency Residential Mortgage-Backed Securities | &nbsp;&nbsp; $3410 | &nbsp;&nbsp; $18 | &nbsp;&nbsp; $(268)<br>| &nbsp;&nbsp; $3160 |
| Financial ABS – Non-Agency Residential Mortgage-Backed Securities | &nbsp;&nbsp; 1109 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; (91)<br>| &nbsp;&nbsp; 1028 |
| Financial ABS – Commercial Mortgage-Backed Securities | &nbsp;&nbsp; 1900 | &nbsp;&nbsp; 16 | &nbsp;&nbsp; (58)<br>| &nbsp;&nbsp; 1858 |
| Financial ABS – CLOs/CBOs/CDOs | &nbsp;&nbsp; 1320 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 1321 |
| Financial ABS - Other Financial Asset-Backed Securities | &nbsp;&nbsp; 3322 | &nbsp;&nbsp; 58 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 3379 |
| Financial ABS – Equity Backed Securities  | &nbsp;&nbsp; 37 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (5)<br>| &nbsp;&nbsp; 32 |
| Non-Financial ABS – Lease-Backed Securities | &nbsp;&nbsp; 69 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 68 |
| Non-Financial ABS – Practical Expedient – Other | &nbsp;&nbsp; 86 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (3)<br>| &nbsp;&nbsp; 83 |
| Non-Financial ABS – Full Analysis – Other | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| Total Asset-Backed Securities  | &nbsp;&nbsp; $11253 | &nbsp;&nbsp; $104 | &nbsp;&nbsp; $(428)<br>| &nbsp;&nbsp; $10929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Bonds | &nbsp;&nbsp; $54999 | &nbsp;&nbsp; $941 | &nbsp;&nbsp; $(2792)<br>| &nbsp;&nbsp; $53148 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Admitted**<br> **Value** | **Gross Unrealized** | **Gross Unrealized** | **Fair**<br> **Value** |
|  | **Admitted**<br> **Value** | **Gains** | **Losses** | **Fair**<br> **Value** |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| U.S. government and agency securities  | &nbsp;&nbsp; $1565 | &nbsp;&nbsp; $2 | &nbsp;&nbsp; $(149)<br>| &nbsp;&nbsp; $1418 |
| U.S. state and political subdivision securities | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; (3)<br>| &nbsp;&nbsp; 125 |
| Securities issued by foreign governments | &nbsp;&nbsp; 64 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; 60 |
| Corporate debt securities | &nbsp;&nbsp; 40714 | &nbsp;&nbsp; 466 | &nbsp;&nbsp; (3026)<br>| &nbsp;&nbsp; 38154 |
| Residential mortgage-backed securities | &nbsp;&nbsp; 4045 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; (517)<br>| &nbsp;&nbsp; 3534 |
| Commercial mortgage-backed securities | &nbsp;&nbsp; 1839 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; (113)<br>| &nbsp;&nbsp; 1729 |
| Collateralized debt obligations | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| Other debt obligations | &nbsp;&nbsp; 4039 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; (9)<br>| &nbsp;&nbsp; 4042 |
| Affiliated bonds | &nbsp;&nbsp; 607 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total bonds | &nbsp;&nbsp; $52993 | &nbsp;&nbsp; $498 | &nbsp;&nbsp; $(3821)<br>| &nbsp;&nbsp; $49670 |

---

The admitted value of corporate debt securities issued in foreign currencies was $966 million and <br> $819 million as of December 31, 2025 and 2024, respectively.

The admitted value and fair value of bonds, short-term investments and certain cash equivalents by contractual maturity are shown below (in millions). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

---

| | | |
|:---|:---|:---|
|  | **Admitted** <br> **Value**<br>| **Fair** <br> **Value**<br>|
| **December 31, 2025** |  |  |
| **Issuer Credit Obligations:** | **Issuer Credit Obligations:** | **Issuer Credit Obligations:** |
| Due in 1 year or less | &nbsp;&nbsp; $3978 | &nbsp;&nbsp; $3995 |
| Due after 1 year through 5 years | &nbsp;&nbsp; 13593 | &nbsp;&nbsp; 13546 |
| Due after 5 years through 10 years | &nbsp;&nbsp; 12841 | &nbsp;&nbsp; 12725 |
| Due after 10 years through 20 years | &nbsp;&nbsp; 7685 | &nbsp;&nbsp; 7347 |
| Due after 20 years | &nbsp;&nbsp; 7251 | &nbsp;&nbsp; 6212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuer Credit Obligations Total  | &nbsp;&nbsp; $45348 | &nbsp;&nbsp; $43825 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Admitted** <br> **Value**<br>| **Fair** <br> **Value**<br>|
| **Asset-Backed Securities:** | **Asset-Backed Securities:** | **Asset-Backed Securities:** |
| Due in 1 year or less | &nbsp;&nbsp; $10 | &nbsp;&nbsp; $10 |
| Due after 1 year through 5 years | &nbsp;&nbsp; 306 | &nbsp;&nbsp; 305 |
| Due after 5 years through 10 years | &nbsp;&nbsp; 757 | &nbsp;&nbsp; 753 |
| Due after 10 years through 20 years | &nbsp;&nbsp; 2731 | &nbsp;&nbsp; 2674 |
| Due after 20 years | &nbsp;&nbsp; 7449 | &nbsp;&nbsp; 7187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Securities Total | &nbsp;&nbsp; $11253 | &nbsp;&nbsp; $10929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Bonds | &nbsp;&nbsp; $56601 | &nbsp;&nbsp; $54754 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

The following table shows the fair value and gross unrealized losses aggregated by investment category and length of time that individual bonds have been in a continuous unrealized loss position (dollars in millions).

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Less than 12 Months** | **Less than 12 Months** | **Less than 12 Months** | **12 Months or More** | **12 Months or More** | **12 Months or More** |
|  | **Number of** <br> **Securities**<br>| **Fair** <br> **Value**<br>| **Gross** <br> **Unrealized** <br> **Losses**<br>| **Number of** <br> **Securities**<br>| **Fair** <br> **Value**<br>| **Gross** <br> **Unrealized** <br> **Losses**<br>|
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Issuer Credit Obligations | &nbsp;&nbsp; 367 | &nbsp;&nbsp; $2749 | &nbsp;&nbsp; $(81)<br>| &nbsp;&nbsp; 2610 | &nbsp;&nbsp; $20486 | &nbsp;&nbsp; $(2284 )<br>|
| Asset-Backed Securities | &nbsp;&nbsp; 44 | &nbsp;&nbsp; 410 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 403 | &nbsp;&nbsp; 3620 | &nbsp;&nbsp; (426)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total bonds | &nbsp;&nbsp; 411 | &nbsp;&nbsp; $3159 | &nbsp;&nbsp; $(82)<br>| &nbsp;&nbsp; 3013 | &nbsp;&nbsp; $24106 | &nbsp;&nbsp; $(2710)<br>|
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| U.S. government and agency securities | &nbsp;&nbsp; 13 | &nbsp;&nbsp; $272 | &nbsp;&nbsp; $(8)<br>| &nbsp;&nbsp; 34 | &nbsp;&nbsp; $796 | &nbsp;&nbsp; $(141)<br>|
| U.S. state and political subdivision securities | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; 33 | &nbsp;&nbsp; (3)<br>|
| Securities issued by foreign governments | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; (4)<br>|
| Corporate debt securities | &nbsp;&nbsp; 921 | &nbsp;&nbsp; 5977 | &nbsp;&nbsp; (161)<br>| &nbsp;&nbsp; 2970 | &nbsp;&nbsp; 22523 | &nbsp;&nbsp; (2865)<br>|
| Residential mortgage-backed securities | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 495 | &nbsp;&nbsp; (7)<br>| &nbsp;&nbsp; 267 | &nbsp;&nbsp; 2756 | &nbsp;&nbsp; (510)<br>|
| Commercial mortgage-backed securities | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 232 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 145 | &nbsp;&nbsp; 1273 | &nbsp;&nbsp; (111)<br>|
| Other debt obligations | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 73 | &nbsp;&nbsp; 199 | &nbsp;&nbsp; (8)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total bonds | &nbsp;&nbsp; 1005 | &nbsp;&nbsp; $7065 | &nbsp;&nbsp; $(179)<br>| &nbsp;&nbsp; 3499 | &nbsp;&nbsp; $27629 | &nbsp;&nbsp; $(3642)<br>|

---

Based on Thrivent's current evaluation in accordance with Thrivent's impairment policy, a determination was made that the declines in the securities summarized above are temporary in nature and Thrivent has the ability and intent to hold securities in an unrealized loss position for a period of time sufficient for the security to recover in value.

**Stocks**

The cost and fair value of Thrivent's investment in stocks as of December 31 are presented below (in millions).

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Unaffiliated Preferred Stocks: | Unaffiliated Preferred Stocks: | Unaffiliated Preferred Stocks: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp; $501 | &nbsp;&nbsp; $448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross unrealized gains  | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross unrealized losses | &nbsp;&nbsp; (7)<br>| &nbsp;&nbsp; (20)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value | &nbsp;&nbsp; $518 | &nbsp;&nbsp; $445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Statement value | &nbsp;&nbsp; $516 | &nbsp;&nbsp; $451 |
| Unaffiliated Common Stocks: | Unaffiliated Common Stocks: | Unaffiliated Common Stocks: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp; $689 | &nbsp;&nbsp; $623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross unrealized gains | &nbsp;&nbsp; 208 | &nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross unrealized losses | &nbsp;&nbsp; (19)<br>| &nbsp;&nbsp; (18)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value/statement value | &nbsp;&nbsp; $878 | &nbsp;&nbsp; $758 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Affiliated Common Stocks: | Affiliated Common Stocks: | Affiliated Common Stocks: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp; $1384 | &nbsp;&nbsp; $314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross unrealized gains | &nbsp;&nbsp; 53 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross unrealized losses | &nbsp;&nbsp; (698)<br>| &nbsp;&nbsp; (102)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value/statement value | &nbsp;&nbsp; $739 | &nbsp;&nbsp; $258 |
| Affiliated Mutual Funds and ETFs: | Affiliated Mutual Funds and ETFs: | Affiliated Mutual Funds and ETFs: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp; $75 | &nbsp;&nbsp; $68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross unrealized gains | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross unrealized losses | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value/statement value | &nbsp;&nbsp; $97 | &nbsp;&nbsp; $75 |
| Total statement value | &nbsp;&nbsp; $2230 | &nbsp;&nbsp; $1542 |

---

**Mortgage Loans**

Thrivent invests in mortgage loans that principally involve commercial real estate consisting of first mortgage liens on completed income-producing properties. The carrying value of mortgage loans was $11.0 billion and $10.9 billion for the years ended December 31, 2025 and 2024, respectively. There was no allowance for credit losses as of December 31, 2025 or 2024.

Thrivent requires that all properties subject to mortgage loans have fire insurance at least equal to the value of the property.

The carrying values of mortgage loans by credit quality as of December 31 are presented below where restructured loans, in good standing, represent loans with reduced principal or interest rates below market (dollars in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **In good standing** | &nbsp;&nbsp; $10917 | &nbsp;&nbsp; $10849 |
| Restructured loans, in good standing | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 18 |
| Delinquent | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| In process of foreclosure | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total mortgage loans | &nbsp;&nbsp; $10960 | &nbsp;&nbsp; $10867 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Loans with Interest Rates Reduced During the Year:** | **Loans with Interest Rates Reduced During the Year:** | **Loans with Interest Rates Reduced During the Year:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weighted average interest rate reduction | 2.6<br> %<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total principal  | &nbsp;&nbsp; $36 | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of loans | &nbsp;&nbsp; 10 | &nbsp;&nbsp; —<br>|
| **Interest Rates for Loans Issued During the Year:** | **Interest Rates for Loans Issued During the Year:** | **Interest Rates for Loans Issued During the Year:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maximum | 7.0<br> %<br>| 9.3<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minimum | 3.6<br> %<br>| 5.5<br> %<br>|
| &nbsp;&nbsp;&nbsp; Maximum loan-to-value ratio for loans issued during the year, exclusive of purchase money <br> mortgages<br>| &nbsp;&nbsp; 79<br> %<br>| &nbsp;&nbsp; 65<br> %<br>|

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

The age analysis of mortgage loans as of December 31 are presented below (in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Current | &nbsp;&nbsp; $10959 | &nbsp;&nbsp; $10867 |
| 30 – 59 days past due | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| 60 – 89 days past due | &nbsp;&nbsp; 1 | &nbsp;&nbsp; —<br>|
| 90 – 179 days past due | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| 180+ days past due | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total mortgage loans | &nbsp;&nbsp; $10960 | &nbsp;&nbsp; $10867 |
| 90 – 179 Days Past Due and Accruing Interest: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest accrued | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| 180+ Days Past Due and Accruing Interest: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest accrued | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

The distribution of Thrivent's mortgage loans among various geographic regions of the United States as of December 31 are presented below:

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Geographic Region:** | **Geographic Region:** | **Geographic Region:** |
| Pacific | &nbsp;&nbsp; 27<br> %<br>| &nbsp;&nbsp; 29<br> %<br>|
| South Atlantic | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 21 |
| East North Central | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 7 |
| West North Central | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 7 |
| Mountain | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 7 |
| Mid-Atlantic | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 12 |
| West South Central | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 12 |
| Other | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; 100<br> %<br>| &nbsp;&nbsp; 100<br> %<br>|

---

The distribution of Thrivent's mortgage loans among various property types as of December 31 are presented below:

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Property Type:** | **Property Type:** | **Property Type:** |
| Industrial | &nbsp;&nbsp; 31<br> %<br>| &nbsp;&nbsp; 27<br> %<br>|
| Retail | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 16 |
| Office | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 11 |
| Church | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 7 |
| Apartments | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 32 |
| Other | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; 100<br> %<br>| &nbsp;&nbsp; 100<br> %<br>|

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

***Impaired loans***

A loan is determined to be impaired when it is considered probable that the principal and interest will not be collected according to the contractual terms of the loan agreement. For the years ended December 31, 2025 and 2024, Thrivent held impaired loans with carrying values of $26 million and $26 million, and unpaid principal balances of $33 million and $32 million for which there was no related allowance for credit losses recorded, respectively.

Any payments received on impaired loans are either applied against the principal or reported as net investment income, based on an assessment as to the collectability of the principal. Interest income on impaired loans that are delinquent are recognized upon receipt.

After loans become 180 days delinquent on principal or interest payments, or if the loans have been determined to be impaired, any accrued but uncollectible interest on the mortgage loans is non-admitted and charged to surplus in the period in which the loans are determined to be impaired. Generally, only after the loans become less than 180 days delinquent from the contractual due date will accrued interest be returned to admitted status. The amount of impairments included in realized capital losses due to debt restructuring was $0 for the year ended December 31, 2025, $8 million for the year ended December 31, 2024, and $8 million for the year ended December 31, 2023. The average recorded investment in impaired mortgage loans was $13 million and $26 million for the years ended December 31, 2025 and 2024, respectively. Interest income recognized on impaired mortgage loans was $1 million for the year ended December 31, 2025, $1 million for the year ended December 31, 2024, and $2 million for the year ended December 31, 2023.

In certain circumstances, Thrivent may restructure the terms of a troubled loan to maximize the collection of amounts due. During the years ended December 31, 2025 and 2024, Thrivent restructured three loans with a carrying value of $27 million and three loans with a carrying value of $10 million, respectively.

For the years ended December 31, 2025 and 2024, Thrivent held ten mortgage loans with a carrying value of $43 million and eight loans with a carrying value of $18 million, where loan restructures had occurred and the loans were in good standing, respectively. For the year ended December 31, 2025, the ten restructured mortgage loans had no payment defaults after modifications. For the year ended December 31, 2024, the eight restructured mortgage loans had no payment defaults after modifications.

During the year ended December 31, 2025 there were no mortgage loans derecognized as a result of foreclosure. In 2024, there was one mortgage loan with a carrying value of $16 million that was derecognized as a result of foreclosure.

**<u>Real Estate</u>**

Thrivent owns home office properties and held-for-sale properties. Held-for-sale properties are determined to be impaired when it is probable that the current book value plus costs to sell are greater than the fair market value of the property.

The components of real estate investments as of December 31 were as follows (in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Home office properties | &nbsp;&nbsp; $25 | &nbsp;&nbsp; $24 |
| Held-for-sale | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total before accumulated depreciation | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 24 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Accumulated depreciation | &nbsp;&nbsp; (6)<br>| &nbsp;&nbsp; (6)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total real estate | &nbsp;&nbsp; $19 | &nbsp;&nbsp; $18 |

---

In 2025, Thrivent contributed a property to Thrivent Holdings, Inc. ("Holdings") with a book value of $2 million. In 2024, Thrivent reclassified a corporate office building as held-for-sale. This property had a book value of $24 million and was impaired by $24 million to a book value of $0 in December 2024. In November 2024, Thrivent sold a portion of land for a cash payment of less than $1 million and recorded a realized gain of less than $1 million on the sale.

**<u>Derivative Financial Instruments</u>**

Thrivent uses derivative financial instruments in the normal course of business to manage investment risks, to reduce interest rate and duration imbalances determined in asset/liability analyses, and to offset risks associated with the guaranteed living benefits features of certain variable annuity products. The following table summarizes the carrying values, which primarily equal fair values, and the notional amounts of Thrivent's derivative financial instruments (in millions):

---

| | | | |
|:---|:---|:---|:---|
|  | **Carrying** <br> **Value**<br>| **Notional** <br> **Amount**<br>| **Realized** <br> **Gains/(Losses)**<br>|
| **As of and for the year ended December 31, 2025** | **As of and for the year ended December 31, 2025** | **As of and for the year ended December 31, 2025** | **As of and for the year ended December 31, 2025** |
| Assets: | Assets: | Assets: | Assets: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Call spread options | &nbsp;&nbsp; $170 | &nbsp;&nbsp; $1262 | &nbsp;&nbsp; $69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 117 | &nbsp;&nbsp; (176)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency swaps | &nbsp;&nbsp; 63 | &nbsp;&nbsp; 493 | &nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest rate swaps | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covered written call options | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage Dollar Rolls | &nbsp;&nbsp; 509 | &nbsp;&nbsp; 510 | &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchased Options | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (8)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | &nbsp;&nbsp; $742 | &nbsp;&nbsp; $2382 | &nbsp;&nbsp; $(100)<br>|
| Liabilities: | Liabilities: | Liabilities: | Liabilities: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Call spread options | &nbsp;&nbsp; $(102)<br>| &nbsp;&nbsp; $1308 | &nbsp;&nbsp; $(38)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 835 | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency swaps | &nbsp;&nbsp; (26)<br>| &nbsp;&nbsp; 481 | &nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covered written call options | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 404 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | &nbsp;&nbsp; $(129)<br>| &nbsp;&nbsp; $3028 | &nbsp;&nbsp; $(33)<br>|
| **As of and for the year ended December 31, 2024** | **As of and for the year ended December 31, 2024** | **As of and for the year ended December 31, 2024** | **As of and for the year ended December 31, 2024** |
| Assets: | Assets: | Assets: | Assets: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Call spread options | &nbsp;&nbsp; $141 | &nbsp;&nbsp; $1163 | &nbsp;&nbsp; $194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 97 | &nbsp;&nbsp; (205)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency swaps | &nbsp;&nbsp; 79 | &nbsp;&nbsp; 820 | &nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest rate swaps | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covered written call options | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

---

| | | | |
|:---|:---|:---|:---|
|  | **Carrying** <br> **Value**<br>| **Notional** <br> **Amount**<br>| **Realized** <br> **Gains/(Losses)**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | &nbsp;&nbsp; $220 | &nbsp;&nbsp; $2080 | &nbsp;&nbsp; $(1)<br>|
| Liabilities: | Liabilities: | Liabilities: | Liabilities: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Call spread options | &nbsp;&nbsp; $(81)<br>| &nbsp;&nbsp; $1231 | &nbsp;&nbsp; $(172)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 929 | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency swaps | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 78 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covered written call options | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | &nbsp;&nbsp; $(82)<br>| &nbsp;&nbsp; $2238 | &nbsp;&nbsp; $(170)<br>|

---

All gains and losses on derivatives are reflected in realized capital gains and losses in the statutory-basis financial statements except foreign currency swaps which are reflected in net investment income. Notional amounts do not represent amounts exchanged by the parties and therefore are not a measure of Thrivent's exposure. The settlement amounts exchanged are calculated based on the notional amounts and the other terms of the instruments, such as interest rates, exchange rates, security prices or financial and other indices.

***Call Spread Options***

Thrivent uses over-the-counter S&P 500 index call spread options (i.e. buying call options and selling cap call options) to manage risks associated with fixed indexed annuities. Purchased call spread options are reported at fair value in derivatives and written call spread options are reported at fair value in derivatives. The changes in the fair value of the call spread options are recorded in unrealized gains and losses.

***Covered Written Call Options***

Thrivent sells covered written call option contracts to enhance the return on residential mortgage-backed "To Be Announced" collateral that Thrivent owns. The premium received for these call options is recorded in other liabilities at book value at each reporting period. All positions in these contracts are settled at month end. Upon disposition of the options, the gains are recorded as a component of realized capital gains and losses. During the years ended December 31, 2025, 2024 and 2023, $2 million, less than $1 million and $0, respectively, was received in call premium.

***Futures***

Thrivent utilizes futures contracts to manage a portion of the risks associated with the guaranteed minimum accumulation benefit feature of variable annuity products and to manage foreign equity risk. Cash paid for the futures contracts is recorded in derivatives. The futures contracts are valued at fair value at each reporting period. The daily change in fair value from the contracts variation margin is recognized in unrealized gains and losses until the contract is closed and/or otherwise expired. Realized gains and losses are recognized when the contract is closed and/or otherwise expired.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

***Foreign Currency Swaps***

Thrivent utilizes foreign currency swaps to manage the risk associated with changes in the exchange rate of foreign currency to U.S. dollar payments for foreign denominated bonds. The swaps are reported at fair value with the change in the fair value recognized in unrealized gains and losses. Realized capital gains and losses are recognized upon settlement of the swap. No cash is exchanged at the outset of the swaps, and interest payments received are recorded as a component of net investment income.

***Mortgage Dollar Rolls***

Thrivent utilizes "To Be Announced" ("TBA") forward contracts within the Agency-backed mortgage-backed securities market to optimize yield and manage liquidity in an efficient way. Additionally, Thrivent employs a dollar roll strategy with TBA contracts where TBAs are sold to counterparties with a commitment to buy a substantially similar security at a later settlement date.

**<u>Securities Lending</u>**

Elements of the securities lending program as of December 31 are presented below (in millions).

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Loaned Securities: | Loaned Securities: | Loaned Securities: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carrying value | &nbsp;&nbsp; $533 | &nbsp;&nbsp; $554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value | &nbsp;&nbsp; 539 | &nbsp;&nbsp; 540 |
| Cash Collateral Reinvested: | Cash Collateral Reinvested: | Cash Collateral Reinvested: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Open  | &nbsp;&nbsp; $246 | &nbsp;&nbsp; $229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 days or less | &nbsp;&nbsp; 112 | &nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 - 60 days | &nbsp;&nbsp; 44 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 - 90 days | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 - 120 days | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 - 180 days | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 - 365 days | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 - 2 years | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 - 3 years | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greater than 3 years | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $551 | &nbsp;&nbsp; $552 |
| Cash collateral liabilities | &nbsp;&nbsp; $551 | &nbsp;&nbsp; $553 |

---

The maturity dates of the cash collateral liabilities generally match the maturity dates of the invested assets.

**<u>Collateral Received</u>**

Elements of reinvested collateral received in the securities lending program as of December 31 are presented below (in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Bonds: | Bonds: | Bonds: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carrying value | &nbsp;&nbsp; $20 | &nbsp;&nbsp; $100 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 100 |
| Short-term Investments: | Short-term Investments: | Short-term Investments: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carrying value | &nbsp;&nbsp; $110 | &nbsp;&nbsp; $50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 50 |
| Cash Equivalents: | Cash Equivalents: | Cash Equivalents: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carrying value | &nbsp;&nbsp; $420 | &nbsp;&nbsp; $402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value | &nbsp;&nbsp; 420 | &nbsp;&nbsp; 402 |
| Common Stocks: | Common Stocks: | Common Stocks: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carrying value | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Value | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

All collateral received is less than 1% of total admitted assets.

**<u>Wash Sales</u>**

In the normal course of Thrivent's investment management activities, securities are periodically sold and repurchased within 30 days of the sale date to enhance total return on the investment portfolio. At December 31, 2025, Thrivent completed 27 transactions, selling 23 securities with a book value totaling $3 million where the cost to repurchase within 30 days totaled $4 million. The net gain for securities sold and later repurchased totaled less than $0 million. At December 31, 2024, Thrivent completed 36 transactions, selling 31 securities with a book value totaling $2 million where the cost to repurchase within 30 days totaled $3 million. The net gain for securities sold and later repurchased totaled less than $1 million.

**<u>Reverse Repurchase Agreements</u>**

Thrivent has a tri-party reverse repurchase agreement ("repo") to purchase and resell short-term securities. The securities are classified as an NAIC designation of 1 and the maturity of the securities is three months to one year with a carrying value and fair value of $0 for the years ended December 31, 2025 and 2024. Thrivent is not permitted to sell or repledge these securities. The purchased securities are included in cash, cash equivalents and short-term investments in the accompanying Statutory-Basis Statements of Assets, Liabilities and Surplus. Thrivent received cash as collateral, having a fair value at least equal to 102% of the purchase price paid for the securities and Thrivent's designated custodian takes possession of the collateral. The collateral is not recorded in Thrivent's financial statements.

The fair value of the securities for the repo transactions accounted for each reporting period presented below (in millions):

---

| | | |
|:---|:---|:---|
| **December 31, 2025** | **Maximum** | **Ending**<br> **Balance**<br>|
| Bonds: | Bonds: | Bonds: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1st quarter | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd quarter | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3rd quarter | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4th quarter | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **December 31, 2024** | **Maximum** | **Ending**<br> **Balance**<br>|
| Bonds: | Bonds: | Bonds: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1st quarter | &nbsp;&nbsp; $140 | &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd quarter | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3rd quarter | &nbsp;&nbsp; 30 | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4th quarter | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

The fair value of the cash collateral under the repo transactions for each reporting period by remaining contractual maturity presented below (in millions):

---

| | | |
|:---|:---|:---|
| **December 31, 2025** | **Maximum** | **Ending**<br> **Balance**<br>|
| Overnight and Continuous: | Overnight and Continuous: | Overnight and Continuous: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1st quarter | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd quarter | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3rd quarter | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4th quarter | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **December 31, 2024** | **Maximum** | **Ending**<br> **Balance**<br>|
| Overnight and Continuous: | Overnight and Continuous: | Overnight and Continuous: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1st quarter | &nbsp;&nbsp; $143 | &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd quarter | &nbsp;&nbsp; 117 | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3rd quarter | &nbsp;&nbsp; 31 | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4th quarter | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

**<u>Federal Home Loan Bank Agreements</u>** 

FHLB membership requires an initial purchase of membership stock and gives Thrivent access to low-cost funding. Thrivent held membership stock of $0 as of December 31, 2025 and 2024, and activity-based stock of $91 million and $90 million as of December 31, 2025 and 2024, respectively. Any excess activity-based stock is periodically converted to membership stock by the FHLB. Thrivent's strategy is to utilize funds from the FHLB to optimize liquidity and for spread investment purposes. Additional FHLB activity-based stock purchases are required based upon the amount of funding agreements from the FHLB. Thrivent is required to post acceptable forms of collateral for any funding agreements from the FHLB. In the event of default, the FHLB's recovery on the collateral is limited to the amount of Thrivent's outstanding liability to the FHLB. FHLB activity is limited to the general account. As of December 31, 2025, Thrivent has an internally approved maximum borrowing capacity for the FHLB of $6 billion. Thrivent has an unused commitment amount of $4 billion for long-term contracts terminating in more than 12 months. Thrivent established this limit in accordance with its overall risk management process. As of December 31, 2025, Thrivent has a standby letter of credit agreement with the Federal Home Loan Bank of Chicago in the amount of $85 million.

The amount of collateral pledged to FHLB as of December 31 (in millions):

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | **Fair**<br> **Value**<br>| **Carrying**<br> **Value**<br>| **Aggregate**<br> **Total**<br> **Borrowing**<br>| **Fair**<br> **Value**<br>| **Carrying**<br> **Value**<br>| **Aggregate**<br> **Total**<br> **Borrowing**<br>|
| Total Collateral Pledged | &nbsp;&nbsp; $2826 | &nbsp;&nbsp; $3086 | &nbsp;&nbsp; $2010 | &nbsp;&nbsp; $2708 | &nbsp;&nbsp; $3114 | &nbsp;&nbsp; $2010 |

---

The maximum amount of collateral pledged to FHLB during the reporting period (in millions):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | **Fair**<br> **Value**<br>| **Carrying**<br> **Value**<br>| **Aggregate**<br> **Total**<br> **Borrowing**<br>| **Fair**<br> **Value**<br>| **Carrying**<br> **Value**<br>| **Aggregate**<br> **Total**<br> **Borrowing**<br>|
| Total Maximum Collateral Pledged | &nbsp;&nbsp; $2863 | &nbsp;&nbsp; $3191 | &nbsp;&nbsp; $2010 | &nbsp;&nbsp; $3242 | &nbsp;&nbsp; 3591 | &nbsp;&nbsp; $2010 |

---

During the third quarter of 2023, Thrivent transitioned $900 million in FHLB advances into funding agreements. These advances were previously reported as borrowed money and funding agreements are reported in deposit liabilities.

The fair value and carrying amount of the funding agreements, excluding accrued interest, were $2.0 billion and $2.0 billion as of December 31, 2025 and 2024, respectively. Interest accrues as of December 31, 2025 and 2024 at a weighted average rate of 3.9% and 4.5%, respectively. Interest paid in 2025 and 2024 was $86 million and $89 million, respectively. The outstanding deposit liabilities of $2.0 billion as of December 31, 2025 have scheduled maturity dates through 2028 and Thrivent has the discretion to roll those maturities into future borrowings or funding agreements.

The amount of funding agreements from FHLB as of December 31 (in millions):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **General Account** | **General Account** | **Funding Agreements**<br> **Reserves Established** | **Funding Agreements**<br> **Reserves Established** |
|  | **2025** | **2024** | **2025** | **2024** |
| Funding Agreements | &nbsp;&nbsp; $2010 | &nbsp;&nbsp; $2010 | &nbsp;&nbsp; $2017 | &nbsp;&nbsp; $2017 |
| Other | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggregate Total | &nbsp;&nbsp; $2010 | &nbsp;&nbsp; $2010 | &nbsp;&nbsp; $2017 | &nbsp;&nbsp; $2017 |

---

The Company does not have prepayment obligations for these funding agreements.

**<u>Pledged and Restricted Assets</u>**

Thrivent owns assets which are pledged to others as collateral or are otherwise restricted totaling $3.8 billion for both years ended December 31, 2025 and 2024. Total pledged and restricted assets, which primarily include collateral held under futures transactions, securities lending agreements, FHLB and reverse repurchase agreements are 3% of total admitted assets. Securities on deposit with state insurance departments were $2 million for both years ended December 31, 2025 and 2024.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

**<u>Net Investment Income</u>**

Investment income by type of investment for the years ended December 31 is presented below (in millions):

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| Bonds | &nbsp;&nbsp; $2395 | &nbsp;&nbsp; $2165 | &nbsp;&nbsp; $2107 |
| Preferred stock | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 20 |
| Unaffiliated common stocks | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 17 |
| Affiliated common stocks | &nbsp;&nbsp; 102 | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 77 |
| Mortgage loans | &nbsp;&nbsp; 438 | &nbsp;&nbsp; 431 | &nbsp;&nbsp; 417 |
| Real estate | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12 |
| Contract loans | &nbsp;&nbsp; 76 | &nbsp;&nbsp; 76 | &nbsp;&nbsp; 75 |
| Cash, cash equivalents and short-term investments | &nbsp;&nbsp; 88 | &nbsp;&nbsp; 74 | &nbsp;&nbsp; 63 |
| Limited partnerships | &nbsp;&nbsp; 749 | &nbsp;&nbsp; 1025 | &nbsp;&nbsp; 547 |
| Derivatives | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 11 |
| Other invested assets | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19 |
| Gross investment income | &nbsp;&nbsp; 3928 | &nbsp;&nbsp; 3929 | &nbsp;&nbsp; 3365 |
| Investment expenses | &nbsp;&nbsp; (105)<br>| &nbsp;&nbsp; (97)<br>| &nbsp;&nbsp; (130)<br>|
| Depreciation on real estate | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; (2)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income | &nbsp;&nbsp; $3822 | &nbsp;&nbsp; $3830 | &nbsp;&nbsp; $3233 |

---

Net investment income includes bonds sold or redeemed with a callable bond or tender feature. During 2025, there were 179 securities with a callable or tender feature sold or redeemed totaling $23 million. During 2024, there were 112 securities with a callable or tender feature sold or redeemed totaling $4 million.

**Investment Income Due and Accrued**

All investment income due and accrued with amounts that are over 90 days past due with the exception of mortgage loans that are in default for more than 180 days, are non-admitted. As of December 31, 2025 the total amount of gross, non-admitted and admitted amounts of interest income due and accrued is $606 million, $0 and $606 million, respectively. Aggregate deferred interest is $9 million as of December 31, 2025.

Cumulative amounts of paid-in-kind interest included in the current principal balances is zero.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**2. Investments, continued**<br>

**Realized Capital Gains and Losses**

Realized capital gains and losses for the years ended December 31 is presented below (in millions):

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| Net Gains and (Losses) on Sales: | Net Gains and (Losses) on Sales: | Net Gains and (Losses) on Sales: | Net Gains and (Losses) on Sales: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross gains | &nbsp;&nbsp; $149 | &nbsp;&nbsp; $149 | &nbsp;&nbsp; $93 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross losses | &nbsp;&nbsp; (83)<br>| &nbsp;&nbsp; (74)<br>| &nbsp;&nbsp; (140)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross gains | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 129 | &nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross losses | &nbsp;&nbsp; (27)<br>| &nbsp;&nbsp; (30)<br>| &nbsp;&nbsp; (64)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | &nbsp;&nbsp; (168)<br>| &nbsp;&nbsp; (205)<br>| &nbsp;&nbsp; (172)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | &nbsp;&nbsp; 381 | &nbsp;&nbsp; (13)<br>| &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gains and (losses) on sales | &nbsp;&nbsp; 301 | &nbsp;&nbsp; (44)<br>| &nbsp;&nbsp; (87)<br>|
| Provisions for Losses: | Provisions for Losses: | Provisions for Losses: | Provisions for Losses: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | &nbsp;&nbsp; (19)<br>| &nbsp;&nbsp; (3)<br>| &nbsp;&nbsp; (15)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (8)<br>| &nbsp;&nbsp; (8)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total provisions for losses | &nbsp;&nbsp; (19)<br>| &nbsp;&nbsp; (11)<br>| &nbsp;&nbsp; (23)<br>|
| Realized capital gains and (losses) | &nbsp;&nbsp; 283 | &nbsp;&nbsp; (55)<br>| &nbsp;&nbsp; (110)<br>|
| Transfers to interest maintenance reserve | &nbsp;&nbsp; (74)<br>| &nbsp;&nbsp; (67)<br>| &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gains and (losses), net | &nbsp;&nbsp; $209 | &nbsp;&nbsp; $(122)<br>| &nbsp;&nbsp; $(62)<br>|

---

Proceeds from the sale of investments in bonds were $8.8 billion, $7.3 billion and $5.1 billion for the years ended December 31, 2025, 2024 and 2023, respectively.

Thrivent recognized other-than-temporary impairments ("OTTI") during the year ended December 31, 2025 on asset-backed securities where the present value of cash flows expected to be collected was less than the amortized cost basis of the security. For the year ended December 31, 2025, the amortized cost basis for these securities, prior to any current-period OTTI was $37 million. The OTTI recognized in earnings as a realized loss totaled $1 million. The fair value of the securities as of the date impaired totaled $31 million. The amortized cost basis after the current-period impairment totaled $36 million. The remaining difference between fair value and amortized cost basis as of December 31, 2025 was not deemed to be OTTI.

**3. Policyholder Liabilities**

The following table contains general account aggregate reserves for life, annuity and health contracts as of December 31 (in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Life insurance reserves | &nbsp;&nbsp; $26426 | &nbsp;&nbsp; $26074 |
| Disability and long-term care active life reserves | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 70 |
| Disability and long-term care unpaid claims and claim reserves | &nbsp;&nbsp; 343 | &nbsp;&nbsp; 351 |
| Annuity reserves | &nbsp;&nbsp; 24107 | &nbsp;&nbsp; 21985 |
| Health contracts | &nbsp;&nbsp; 6845 | &nbsp;&nbsp; 6740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggregate reserves for life, annuity and health contracts | &nbsp;&nbsp; $57788 | &nbsp;&nbsp; $55220 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**3. Policyholder Liabilities, continued**<br>

Many of the contracts issued by Thrivent, primarily annuities, do not subject Thrivent to mortality or morbidity risk. These contracts may have certain limitations placed upon the amount of funds that can be withdrawn without penalties. The following table summarizes liabilities by withdrawal characteristics of individual annuities (dollars in millions):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **General**<br> **Account**<br>| **Separate**<br> **Account**<br> **Guaranteed**<br>| **Separate**<br> **Account**<br> **Nonguaranteed**<br>| **Total** | **% of Total** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | &nbsp;&nbsp; $6671 | &nbsp;&nbsp; $151 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $6822 | &nbsp;&nbsp; 12<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value less a surrender charge of 5% <br> or more<br>| &nbsp;&nbsp; 3853 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 3853 | &nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At fair value | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 34697 | &nbsp;&nbsp; 34697 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total with market value adjustment or at fair <br> value <br>| &nbsp;&nbsp; 10524 | &nbsp;&nbsp; 151 | &nbsp;&nbsp; 34697 | &nbsp;&nbsp; 45372 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment | &nbsp;&nbsp; 11885 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 11885 | &nbsp;&nbsp; 20 |
| Not subject to discretionary withdrawal | &nbsp;&nbsp; 1698 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 49 | &nbsp;&nbsp; 1747 | &nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $24107 | &nbsp;&nbsp; $151 | &nbsp;&nbsp; $34746 | &nbsp;&nbsp; $59004 | &nbsp;&nbsp; 100<br> %<br>|
| &nbsp;&nbsp;&nbsp; Amount to Move into Subject to Discretionary <br> Withdrawal in the Year After the Statement <br> Date:<br>| &nbsp;&nbsp; $286 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $286 |  |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | &nbsp;&nbsp; $3931 | &nbsp;&nbsp; $172 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $4103 | &nbsp;&nbsp; 7<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value less a surrender charge of 5% <br> or more<br>| &nbsp;&nbsp; 3628 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 3628 | &nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At fair value | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 33718 | &nbsp;&nbsp; 33718 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total with market value adjustment or at fair <br> value <br>| &nbsp;&nbsp; 7559 | &nbsp;&nbsp; 172 | &nbsp;&nbsp; 33718 | &nbsp;&nbsp; 41449 | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment | &nbsp;&nbsp; 12751 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 12751 | &nbsp;&nbsp; 23 |
| Not subject to discretionary withdrawal | &nbsp;&nbsp; 1675 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 49 | &nbsp;&nbsp; 1724 | &nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total  | &nbsp;&nbsp; $21985 | &nbsp;&nbsp; $172 | &nbsp;&nbsp; $33767 | &nbsp;&nbsp; $55924 | &nbsp;&nbsp; 100<br> %<br>|
| &nbsp;&nbsp;&nbsp; Amount to Move into Subject to Discretionary <br> Withdrawal in the Year After the Statement <br> Date: <br>| &nbsp;&nbsp; $638 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $638 |  |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**3. Policyholder Liabilities, continued**<br>

The following table summarizes liabilities by withdrawal characteristics of deposit type contracts with no life contingencies (dollars in millions):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **General**<br> **Account**<br>| **Separate**<br> **Account**<br> **Guaranteed**<br>| **Separate**<br> **Account**<br> **Nonguaranteed**<br>| **Total** | **% of Total** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value less a surrender charge of 5% <br> or more<br>| &nbsp;&nbsp; $2839 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $2839 | &nbsp;&nbsp; 54<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total with market value adjustment or at fair <br> value <br>| &nbsp;&nbsp; 2839 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 2839 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment | &nbsp;&nbsp; 331 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 331 | &nbsp;&nbsp; 6 |
| Not subject to discretionary withdrawal | &nbsp;&nbsp; 2103 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 2114 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $5273 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $11 | &nbsp;&nbsp; $5284 | &nbsp;&nbsp; 100<br> %<br>|
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: | Subject to Discretionary Withdrawal: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value less a surrender charge of 5% <br> or more<br>| &nbsp;&nbsp; $3134 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $3134 | &nbsp;&nbsp; 56<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total with market value adjustment or at fair <br> value <br>| &nbsp;&nbsp; 3134 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 3134 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment | &nbsp;&nbsp; 2349 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 2349 | &nbsp;&nbsp; 42 |
| Not subject to discretionary withdrawal | &nbsp;&nbsp; 83 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 12 | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $5566 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $12 | &nbsp;&nbsp; $5578 | &nbsp;&nbsp; 100<br> %<br>|

---

The above policyholder liabilities are recorded as partial components within the following captions of the Statutory-Basis Statements of Assets, Liabilities and Surplus as of December 31 (in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Aggregate reserves for annuity contracts  | &nbsp;&nbsp; $24107 | &nbsp;&nbsp; $21985 |
| Deposit liabilities | &nbsp;&nbsp; 5273 | &nbsp;&nbsp; 5566 |
| Liabilities related to separate accounts | &nbsp;&nbsp; 34907 | &nbsp;&nbsp; 33951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $64287 | &nbsp;&nbsp; $61502 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**3. Policyholder Liabilities, continued**<br>

The following table summarizes the analysis of life actuarial reserves by withdrawal characteristics (dollars in millions):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **General Account** | **General Account** | **General Account** | **Separate Account Nonguaranteed** | **Separate Account Nonguaranteed** | **Separate Account Nonguaranteed** |
|  | **Account**<br> **Value**<br>| **Cash**<br> **Value**<br>| **Reserve** | **Account**<br> **Value**<br>| **Cash**<br> **Value**<br>| **Reserve** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| &nbsp;&nbsp;&nbsp; Subject to Discretionary Withdrawal, Surrender <br> Values, or Policy Loans:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal life | &nbsp;&nbsp; $10485 | &nbsp;&nbsp; $10474 | &nbsp;&nbsp; $10497 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal life with secondary guarantees | &nbsp;&nbsp; 1936 | &nbsp;&nbsp; 1810 | &nbsp;&nbsp; 2041 | &nbsp;&nbsp; 2157 | &nbsp;&nbsp; 1973 | &nbsp;&nbsp; 1985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other permanent cash value life insurance | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 12673 | &nbsp;&nbsp; 13623 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable universal life | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 1233 | &nbsp;&nbsp; 1230 | &nbsp;&nbsp; 1238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp; Not Subject to Discretionary Withdrawals or No <br> Cash Values:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term policies without cash value | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; 889 | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accidental death benefits | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; 12 | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability death benefits | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability – active lives | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; 67 | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability – disable lives | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; 331 | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal | &nbsp;&nbsp; $12476 | &nbsp;&nbsp; $25012 | &nbsp;&nbsp; $27529 | &nbsp;&nbsp; $3390 | &nbsp;&nbsp; $3203 | &nbsp;&nbsp; $3223 |
| Reinsurance ceded | &nbsp;&nbsp; 872 | &nbsp;&nbsp; 1097 | &nbsp;&nbsp; 694 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $11604 | &nbsp;&nbsp; $23915 | &nbsp;&nbsp; $26835 | &nbsp;&nbsp; $3390 | &nbsp;&nbsp; $3203 | &nbsp;&nbsp; $3223 |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| &nbsp;&nbsp;&nbsp; Subject to Discretionary Withdrawal, Surrender <br> Values, or Policy Loans:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal life | &nbsp;&nbsp; $10440 | &nbsp;&nbsp; $10429 | &nbsp;&nbsp; $10458 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal life with secondary guarantees | &nbsp;&nbsp; 1775 | &nbsp;&nbsp; 1647 | &nbsp;&nbsp; 1885 | &nbsp;&nbsp; 1780 | &nbsp;&nbsp; 1613 | &nbsp;&nbsp; 1628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other permanent cash value life insurance | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 12475 | &nbsp;&nbsp; 13423 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable universal life | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 63 | &nbsp;&nbsp; 1128 | &nbsp;&nbsp; 1126 | &nbsp;&nbsp; 1133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp; Not Subject to Discretionary Withdrawals or No <br> Cash Values:<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term policies without cash value | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; 1031 | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accidental death benefits | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; 13 | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability death benefits | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability – active lives | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; 70 | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disability – disable lives | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; 340 | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves | &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; XXX | &nbsp;&nbsp; XXX | &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal | &nbsp;&nbsp; $12265 | &nbsp;&nbsp; $24601 | &nbsp;&nbsp; $27285 | &nbsp;&nbsp; $2908 | &nbsp;&nbsp; $2739 | &nbsp;&nbsp; $2761 |
| Reinsurance ceded | &nbsp;&nbsp; 760 | &nbsp;&nbsp; 955 | &nbsp;&nbsp; 788 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $11505 | &nbsp;&nbsp; $23646 | &nbsp;&nbsp; $26497 | &nbsp;&nbsp; $2908 | &nbsp;&nbsp; $2739 | &nbsp;&nbsp; $2761 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**3. Policyholder Liabilities, continued**<br>

Thrivent calculates premium deficiency reserves (PDR) for long-term care insurance policies. The PDR was zero as of December 31, 2025 and 2024, respectively. Additionally, in 2025 the claim incidence and claim termination assumptions were updated for the legacy business block.

Thrivent has insurance in force as of December 31, 2025 and 2024, totaling $2.0 billion and <br> $4.7 billion, respectively, where the gross premiums are less than the net premiums according to the standard valuation requirements set by the State of Wisconsin Office of the Commissioner of Insurance. Reserves associated with these policies as of December 31, 2025 and 2024, totaled $9 million and $17 million, respectively.

Deferred and uncollected life insurance premiums and annuity considerations were as follows (in millions):

---

| | | |
|:---|:---|:---|
|  | **Gross** | **Net of Loading** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Ordinary new business | &nbsp;&nbsp; $9 | &nbsp;&nbsp; $1 |
| Ordinary renewal | &nbsp;&nbsp; 87 | &nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $96 | &nbsp;&nbsp; $113 |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| Ordinary new business | &nbsp;&nbsp; $8 | &nbsp;&nbsp; $—<br>|
| Ordinary renewal | &nbsp;&nbsp; 84 | &nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $92 | &nbsp;&nbsp; $112 |

---

**4. Separate Accounts**

Thrivent administers and invests funds segregated into separate accounts for the exclusive benefit of variable annuity, variable immediate annuity and variable universal life contract holders. Variable life and variable annuity separate accounts of Thrivent are non-guaranteed, while Thrivent's multi-year guarantee separate account is a non-indexed guaranteed account. Within the non-guaranteed separate account, all variable deferred annuity contracts contain guaranteed death benefits and some contain guaranteed living benefits. The following table presents the explicit risk charges paid by separate account contract holders for these guarantees and the amounts paid for guaranteed death benefits for the years ended December 31 (in millions):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** | **2022** | **2021** |
| Risk charge paid | &nbsp;&nbsp; $132 | &nbsp;&nbsp; $119 | &nbsp;&nbsp; $118 | &nbsp;&nbsp; $114 | &nbsp;&nbsp; $119 |
| Payments for guaranteed benefits | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 6 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**4. Separate Accounts, continued**<br>

The following tables summarize information for the separate accounts (in millions):

---

| | | | |
|:---|:---|:---|:---|
|  | **Non-Indexed**<br> **Guarantee**<br>| **Non-**<br> **Guaranteed**<br>| **Total** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Reserves: | Reserves: | Reserves: | Reserves: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For accounts with assets at fair value | &nbsp;&nbsp; $151 | &nbsp;&nbsp; $37976 | &nbsp;&nbsp; $38127 |
| By Withdrawal Characteristics: | By Withdrawal Characteristics: | By Withdrawal Characteristics: | By Withdrawal Characteristics: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subject to Discretionary Withdrawal: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | &nbsp;&nbsp; $151 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At fair value | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 37917 | &nbsp;&nbsp; 37917 |
| Not subject to discretionary withdrawal | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 59 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $151 | &nbsp;&nbsp; $37976 | &nbsp;&nbsp; $38127 |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| Reserves: | Reserves: | Reserves: | Reserves: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For accounts with assets at fair value | &nbsp;&nbsp; $172 | &nbsp;&nbsp; $36539 | &nbsp;&nbsp; $36711 |
| By Withdrawal Characteristics: | By Withdrawal Characteristics: | By Withdrawal Characteristics: | By Withdrawal Characteristics: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subject to Discretionary Withdrawal: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | &nbsp;&nbsp; $172 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At fair value | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 36478 | &nbsp;&nbsp; 36478 |
| Not subject to discretionary withdrawal | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 61 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $172 | &nbsp;&nbsp; $36539 | &nbsp;&nbsp; $36711 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| Premiums, Considerations and Deposits: | Premiums, Considerations and Deposits: | Premiums, Considerations and Deposits: | Premiums, Considerations and Deposits: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-indexed guarantee | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $2 | &nbsp;&nbsp; $1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-guaranteed | &nbsp;&nbsp; 2938 | &nbsp;&nbsp; 2193 | &nbsp;&nbsp; 1473 |
| Total | &nbsp;&nbsp; $2938 | &nbsp;&nbsp; $2195 | &nbsp;&nbsp; $1474 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| Transfers to separate accounts | &nbsp;&nbsp; $2937 | &nbsp;&nbsp; $2194 | &nbsp;&nbsp; $1474 |
| Transfers from separate accounts | &nbsp;&nbsp; (5729)<br>| &nbsp;&nbsp; (5096)<br>| &nbsp;&nbsp; (3592)<br>|
| Other items | &nbsp;&nbsp; (74)<br>| &nbsp;&nbsp; (46)<br>| &nbsp;&nbsp; (35)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers to separate accounts, net | &nbsp;&nbsp; $(2866)<br>| &nbsp;&nbsp; $(2948)<br>| &nbsp;&nbsp; $(2153)<br>|

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued<br>

**5. Claims Liabilities**

Activity in the liabilities for accident and health, long-term care and disability benefits, included in aggregate reserves for life, annuity, and health contracts and contract claims, as presented below (in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Net balance at January 1 | &nbsp;&nbsp; $1186 | &nbsp;&nbsp; $1119 |
| Incurred Related to: | Incurred Related to: | Incurred Related to: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current year | &nbsp;&nbsp; 489 | &nbsp;&nbsp; 485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior years | &nbsp;&nbsp; (120)<br>| &nbsp;&nbsp; (56)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total incurred | &nbsp;&nbsp; 369 | &nbsp;&nbsp; 429 |
| Paid Related to: | Paid Related to: | Paid Related to: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current year | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior years | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total paid | &nbsp;&nbsp; 380 | &nbsp;&nbsp; 362 |
| Net balance at December 31 | &nbsp;&nbsp; $1175 | &nbsp;&nbsp; $1186 |

---

Thrivent uses estimates for determining the liability for accident and health, long-term care and disability benefits, which are based on historical claim payment patterns, and attempts to provide for potential adverse changes in claim patterns and severity. Thrivent annually reviews the claim payment experience to evaluate the methodology and assumptions that are used in determining Thrivent's estimate of ultimate claims experience.

**6. Reinsurance**

Thrivent participates in reinsurance in order to limit maximum losses and to diversify exposures. Life and accident and health reinsurance is accomplished through various plans of reinsurance, primarily coinsurance and yearly renewable term. For life insurance, Thrivent generally retains a maximum of $6 million for any single mortality risk. In 2022 Thrivent began ceding 80% of all Medicare Supplement business via a coinsurance agreement. In 2023 Thrivent entered into a yearly renewable term (YRT) agreement for indemnity reinsurance on newly issued disability insurance coverages.

Ceded balances would represent a liability of Thrivent in the event the reinsurers were unable to meet the obligations under the terms of the reinsurance agreements. Reinsurance contracts do not relieve an insurer from the contract's primary obligation to policyholders.

Reinsurance premiums, commissions, expense reimbursements, benefits and reserves related to reinsured long-duration contracts are accounted for over the life of the underlying reinsured contracts using assumptions consistent with those used to account for the underlying contracts. The cost of reinsurance related to short-duration contracts is accounted for over the reinsurance contract period. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liabilities and policy benefits associated with the reinsured policies.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**6. Reinsurance, continued**<br>

Reinsurance amounts included in the Statutory-Basis Statements of Operations for the years ended December 31 were as follows (in millions):

---

| | | | |
|:---|:---|:---|:---|
|  | **2025** | **2024** | **2023** |
| Direct premiums | &nbsp;&nbsp; $5853 | &nbsp;&nbsp; $6164 | &nbsp;&nbsp; $5731 |
| Reinsurance ceded | &nbsp;&nbsp; (223)<br>| &nbsp;&nbsp; (216)<br>| &nbsp;&nbsp; (211)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net premiums | &nbsp;&nbsp; $5630 | &nbsp;&nbsp; $5948 | &nbsp;&nbsp; $5520 |
| Reinsurance claims recovered | &nbsp;&nbsp; $211 | &nbsp;&nbsp; $177 | &nbsp;&nbsp; $180 |

---

Aggregate reserves and contract claim liabilities in the Statutory-Basis Statements of Assets, Liabilities and Surplus for the years ended December 31 were reduced by reinsurance ceded amounts as presented below (in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Life insurance | &nbsp;&nbsp; $694 | &nbsp;&nbsp; $788 |
| Accident-and-health | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $739 | &nbsp;&nbsp; $830 |

---

During 2022, Thrivent entered into a reinsurance agreement whereby certain Medicare supplement contracts were ceded to a third party. A gain of $39 million was recognized in other surplus funds and is being amortized over a five-year period.

The financial condition of Thrivent's reinsurers and amounts recoverable are periodically reviewed in order to evaluate the financial strength of the companies supporting the recoverable balances. Two reinsurers account for approximately 73% and 74% of the reinsurance recoverable as of December 31, 2025, and 2024, respectively.

Thrivent has no covered policies where certain term life and universal life insurance policies (XXX/AXXX risks) are ceded in accordance with the Term and Universal Life Insurance Reserve Financing Model Regulation (MDL-787) or Actuarial Guideline 48 where the Model Regulation has not been adopted by a state in which Thrivent is licensed.

Thrivent has no reinsurance contracts with features that are subject to the disclosure requirements within SSAP No. 61 related to reinsurance credits.

**7. Surplus**

Thrivent is subject to certain risk-based capital ("RBC") requirements as specified by the NAIC. Under those requirements, the amount of surplus maintained by a fraternal benefit society is to be determined based on various risk factors. Thrivent exceeds the RBC requirements as of December 31, 2025 and 2024.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**7. Surplus, continued**<br>

Unassigned funds as of December 31 includes adjustments related to the following items (in millions):

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Unrealized gains and (losses) | &nbsp;&nbsp; $102 | &nbsp;&nbsp; $545 |
| Non-admitted assets | &nbsp;&nbsp; (488)<br>| &nbsp;&nbsp; (486)<br>|
| Separate accounts | &nbsp;&nbsp; 141 | &nbsp;&nbsp; 118 |
| Asset valuation reserve | &nbsp;&nbsp; (2892)<br>| &nbsp;&nbsp; (3030)<br>|

---

The deferred gain from the 2022 medical supplement reinsurance agreement is included in other surplus funds as of December 31, 2022. The amount was recognized into other surplus and is being amortized over a five-year period.

**8. Fair Value of Financial Instruments**

The financial instruments of Thrivent have been classified, for disclosure purposes, into categories based on the evaluation of the significance of observable and unobservable inputs used to determine fair value.

**<u>Fair Value Descriptions</u>**

***Level 1 Financial Instruments***

Level 1 financial instruments reported at fair value include certain bonds, certain unaffiliated common stocks, cash equivalents, certain derivatives, and exchange traded funds. Bonds, unaffiliated common stocks, and exchange traded funds are primarily valued using quoted prices in active markets. Cash equivalents consist of money market mutual funds whose fair value is based on the quoted daily net asset values of the invested funds.

Level 1 financial instruments not reported at fair value include certain bonds, which are priced based on quoted market prices, and include primarily U.S. Treasury bonds.

***Level 2 Financial Instruments***

Level 2 financial instruments reported at fair value include certain unaffiliated common stocks, other invested assets, and certain derivatives, and are valued based on market quotes where the financial instruments are not considered actively traded. Mutual funds are reported at fair value, which are based on net asset values from fund managers. The fair values for separate account assets are based on published daily net asset values of the funds in which the separate accounts are invested.

Level 2 financial instruments not reported at fair value includes certain bonds, certain unaffiliated common stocks, unaffiliated preferred stocks, cash, cash equivalents and short-term investments, other invested assets, liabilities related to separate accounts and other liabilities.

Bonds not reported at fair value are priced using a third–party pricing vendor and include certain corporate debt securities and asset-backed securities. Pricing from a third–party pricing vendor varies by asset class but generally includes inputs such as estimated cash flows, benchmark yields, reported trades, issuer spreads, bids, offers, credit quality, industry events and economic events. If Thrivent is unable to obtain a price from a third–party pricing vendor, management may obtain broker quotes or utilize an internal pricing model specific to the asset. The internal pricing models apply practices that are standard among the industry and utilize observable market data.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**8. Fair Value of Financial Instruments, continued**<br>

Fair values of unaffiliated common stocks not reported at fair value primarily consist of FHLB activity-based stock and are based on direct quotes from FHLB.

Fair values of unaffiliated preferred stocks not reported at fair value are based on market quotes where these securities are not considered actively traded.

Cash and cash equivalents not reported at fair value consist of demand deposit and highly liquid investments purchased with an original maturity date of three months or less. Short-term investments not reported at fair value consist of investments in commercial paper and agency notes with contractual maturities of one year or less at the time of acquisition. The carrying amounts for cash, cash equivalents and short-term investments approximate the fair values.

Other invested assets not reported at fair value include investments in surplus notes in which the fair values are based on quoted market prices.

The carrying amounts of liabilities related to separate accounts reflect the amounts in the separate account assets and approximate the fair values.

Certain derivative liabilities are reported at fair value and are derived from broker quotes.

Fair values on funding agreements from the FHLB (included in deposit liabilities), are equal to unpaid principal balance, including accrued interest, net of unamortized discount or premium.

***Level 3 Financial Instruments***

Level 3 financial instruments reported at fair value include other invested assets and certain derivatives. The fair value is determined using independent broker quotes.

Level 3 financial instruments not reported at fair value include certain bonds, unaffiliated preferred stocks, mortgage loans, real estate, contract loans, limited partnerships, other invested assets, deferred annuities, other deposit contracts and other liabilities.

Level 3 bonds not reported at fair value include private placement debt securities and convertible bonds. Private placement debt securities are valued using internal pricing models specific to the assets using unobservable inputs such as issuer spreads, estimated cash flows, internal credit ratings and volatility adjustments. Market comparable discount rates ranging from 1% to 8% are used as the base rate in the discounted cash flows used to determine the fair value of certain assets. Increases or decreases in the credit spreads on the comparable assets could cause the fair value of assets to significantly decrease or increase, respectively. Additionally, Thrivent may adjust the base discount rate or the modeled price by applying an illiquidity premium, given the highly structured nature of certain assets. Convertible bonds are valued using third party broker quotes to determine fair value.

Unaffiliated preferred stocks are valued using third-party broker quotes to determine fair value.

The fair values for mortgage loans are estimated using discounted cash flow analyses based on interest rates currently being offered for similar loans to borrowers with similar credit ratings. Loans with similar characteristics are aggregated for purposes of the calculations.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**8. Fair Value of Financial Instruments, continued**<br>

The fair value of real estate properties held-for-sale is based on current market price assessments, current purchase agreements or market appraisals.

Contract loans are generally carried at the loans' aggregate unpaid balance which approximate the fair values.

Limited partnerships consist primarily of equity limited partnerships which are generally valued using NAV as a practical expedient.

Other invested assets primarily include residual tranches, non-collateral loans, and surplus notes. Residual tranches are carried at either the lower of amortized cost or fair value or the underlying audited equity of the investee. Non-collateral loans and surplus notes are carried at amortized cost.

Liabilities primarily include deferred annuities, other deposit contracts and certain derivatives. The fair values for deferred annuities and other deposit contracts, which include supplementary contracts without life contingencies, deferred income settlement options and refunds on deposit are estimated to be the cash surrender value payable upon immediate withdrawal. Derivatives fair values are derived from broker quotes.

**Financial Instruments Carried at Fair Value**

The fair values of Thrivent's financial instruments measured and reported at fair value are presented below (in millions).

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Assets: | Assets: | Assets: | Assets: | Assets: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | &nbsp;&nbsp; $538 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated preferred stocks | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 158 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated common stocks | &nbsp;&nbsp; 788 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents and short-term investments | &nbsp;&nbsp; 332 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Separate account assets | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 38997 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 38997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 572 | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 742 |
| Total | &nbsp;&nbsp; $1658 | &nbsp;&nbsp; $39727 | &nbsp;&nbsp; $170 | &nbsp;&nbsp; $41555 |
| Liabilities: | Liabilities: | Liabilities: | Liabilities: | Liabilities: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $26 | &nbsp;&nbsp; $101 | &nbsp;&nbsp; $127 |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| Assets: | Assets: | Assets: | Assets: | Assets: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | &nbsp;&nbsp; $541 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated preferred stocks | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 114 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated common stocks  | &nbsp;&nbsp; 667 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents and short-term investments | &nbsp;&nbsp; 342 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Separate account assets | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 37442 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 37442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 79 | &nbsp;&nbsp; 141 | &nbsp;&nbsp; 220 |
| Total | &nbsp;&nbsp; $1550 | &nbsp;&nbsp; $37635 | &nbsp;&nbsp; $141 | &nbsp;&nbsp; $39326 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**8. Fair Value of Financial Instruments, continued**<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities: | Liabilities: | Liabilities: | Liabilities: | Liabilities: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $1 | &nbsp;&nbsp; $81 | &nbsp;&nbsp; $82 |

---

***<u>Additional Information on Level 3 Financial Instruments carried at Fair Value</u>***

The following table shows the changes in fair values for the investments categorized as Level 3 (in millions).

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Assets: | Assets: | Assets: |
| Balance, January 1 | &nbsp;&nbsp; $141 | &nbsp;&nbsp; $161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales | &nbsp;&nbsp; (236)<br>| &nbsp;&nbsp; (489)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gains and (losses) net income | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized gains and (losses) surplus | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 177 |
| Balance, December 31 | &nbsp;&nbsp; $170 | &nbsp;&nbsp; $141 |
| Liabilities: | Liabilities: | Liabilities: |
| Balance, January 1 | &nbsp;&nbsp; $81 | &nbsp;&nbsp; $109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales | &nbsp;&nbsp; (50)<br>| &nbsp;&nbsp; (60)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gains and (losses) net income | &nbsp;&nbsp; (38)<br>| &nbsp;&nbsp; (169)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized gains and (losses) surplus | &nbsp;&nbsp; 53 | &nbsp;&nbsp; 151 |
| Balance, December 31 | &nbsp;&nbsp; $101 | &nbsp;&nbsp; $81 |

---

**<u>Transfers</u>**

During 2025, Thrivent transferred $131 million into Level 2 from Level 3 and $15 million into Level 3 from Level 2 for bonds and preferred stocks. During 2024, Thrivent transferred $34 million into Level 2 from Level 3 and $69 million into Level 3 from Level 2 for bonds and preferred stocks. There were no transfers between fair value levels for assets held at fair value. Transfers between fair value hierarchy levels are recognized at the end of the reporting period.

**<u>Valuation Assumptions</u>**

The results of the valuation methods presented in this footnote are significantly affected by the assumptions used, including discount rates and estimates of future cash flows. As a result, the derived fair value estimates, in many cases, could not be realized in immediate settlement of the financial instruments. These fair values are for certain financial instruments of Thrivent; accordingly, the aggregate fair value

amounts presented do not represent the underlying values.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**8. Fair Value of Financial Instruments, continued**<br>

**<u>Fair Value of All Financial Instruments</u>**

The carrying values and fair values of all financial instruments are presented below (in millions).

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Carrying**<br> **Value**  | **Fair Value** | **Fair Value** | **Fair Value** | **Fair Value** |
|  | **Carrying**<br> **Value**  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Financial Assets: | Financial Assets: | Financial Assets: | Financial Assets: | Financial Assets: | Financial Assets: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | &nbsp;&nbsp; $54999 | &nbsp;&nbsp; $1985 | &nbsp;&nbsp; $35695 | &nbsp;&nbsp; $15468 | &nbsp;&nbsp; $53148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated preferred stocks | &nbsp;&nbsp; 516 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 218 | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated common stocks | &nbsp;&nbsp; 878 | &nbsp;&nbsp; 787 | &nbsp;&nbsp; 91 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated common stock | &nbsp;&nbsp; 739 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 739 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated mutual funds and ETFs | &nbsp;&nbsp; 97 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 97 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | &nbsp;&nbsp; 10960 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 10330 | &nbsp;&nbsp; 10330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract loans | &nbsp;&nbsp; 1085 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1085 | &nbsp;&nbsp; 1085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents and short-term investments | &nbsp;&nbsp; 1860 | &nbsp;&nbsp; 332 | &nbsp;&nbsp; 1528 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limited partnerships | &nbsp;&nbsp; 9240 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 9240 | &nbsp;&nbsp; 9240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate – held-for-sale | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets held in separate accounts  | &nbsp;&nbsp; 38997 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 38997 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 38997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives | &nbsp;&nbsp; 742 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 572 | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets | &nbsp;&nbsp; 1175 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 73 | &nbsp;&nbsp; 1109 | &nbsp;&nbsp; 1182 |
| Financial Liabilities: | Financial Liabilities: | Financial Liabilities: | Financial Liabilities: | Financial Liabilities: | Financial Liabilities: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred annuities | &nbsp;&nbsp; $21302 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $20194 | &nbsp;&nbsp; $20194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other deposit contracts | &nbsp;&nbsp; 3047 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 2017 | &nbsp;&nbsp; 1030 | &nbsp;&nbsp; 3047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives | &nbsp;&nbsp; 129 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 26 | &nbsp;&nbsp; 101 | &nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Separate account liabilities | &nbsp;&nbsp; 38857 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 38857 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 38857 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**8. Fair Value of Financial Instruments, continued**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Carrying**<br> **Value** | **Fair Value** | **Fair Value** | **Fair Value** | **Fair Value** |
|  | **Carrying**<br> **Value** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| Financial Assets: | Financial Assets: | Financial Assets: | Financial Assets: | Financial Assets: | Financial Assets: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds  | &nbsp;&nbsp; $52993 | &nbsp;&nbsp; $1683 | &nbsp;&nbsp; $33315 | &nbsp;&nbsp; $14672 | &nbsp;&nbsp; $49670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated preferred stocks  | &nbsp;&nbsp; 451 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 168 | &nbsp;&nbsp; 277 | &nbsp;&nbsp; 445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated common stocks  | &nbsp;&nbsp; 758 | &nbsp;&nbsp; 667 | &nbsp;&nbsp; 91 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated common stock | &nbsp;&nbsp; 258 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 258 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated mutual funds and ETFs  | &nbsp;&nbsp; 75 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 75 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | &nbsp;&nbsp; 10867 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 9690 | &nbsp;&nbsp; 9690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract loans | &nbsp;&nbsp; 1073 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1073 | &nbsp;&nbsp; 1073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents and short-term investments | &nbsp;&nbsp; 1437 | &nbsp;&nbsp; 342 | &nbsp;&nbsp; 1095 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limited partnerships | &nbsp;&nbsp; 10836 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 10836 | &nbsp;&nbsp; 10836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate – held-for-sale | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets held in separate accounts | &nbsp;&nbsp; 37442 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 37442 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 37442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets  | &nbsp;&nbsp; 908 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 151 | &nbsp;&nbsp; 762 | &nbsp;&nbsp; 917 |
| Financial Liabilities: | Financial Liabilities: | Financial Liabilities: | Financial Liabilities: | Financial Liabilities: | Financial Liabilities: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred annuities | &nbsp;&nbsp; $19240 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $18394 | &nbsp;&nbsp; $18394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other deposit contracts | &nbsp;&nbsp; 3067 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 2017 | &nbsp;&nbsp; 1050 | &nbsp;&nbsp; 3067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | &nbsp;&nbsp; 82 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; 81 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Separate account liabilities | &nbsp;&nbsp; 37324 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 37324 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 37324 |

---

**9. Benefit Plans**

**<u>Pension and Other Postretirement Benefits</u>**

Thrivent has a qualified noncontributory pension plan that provides benefits to substantially all home office and field employees upon retirement. Thrivent also provides certain health care and life insurance benefits for substantially all retired home office and field personnel. Thrivent uses a measurement date of December 31 in the benefit plan disclosures.

The components of net periodic pension expense for Thrivent's qualified retirement and other plans for the years ended December 31 were as follows (in millions):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Pension Plan** | **Pension Plan** | **Pension Plan** | **Other Plans** | **Other Plans** | **Other Plans** |
|  | **2025** | **2024** | **2023** | **2025** | **2024** | **2023** |
| Service cost | &nbsp;&nbsp; $24 | &nbsp;&nbsp; $25 | &nbsp;&nbsp; $20 | &nbsp;&nbsp; $1 | &nbsp;&nbsp; $1 | &nbsp;&nbsp; $2 |
| Interest cost | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 53 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 |
| Expected return on plan assets | &nbsp;&nbsp; (85)<br>| &nbsp;&nbsp; (82)<br>| &nbsp;&nbsp; (74)<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| Other | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; (2)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net periodic cost | &nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp; $3 | &nbsp;&nbsp; $3 | &nbsp;&nbsp; $2 | &nbsp;&nbsp; $4 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**9. Benefit Plans, continued**<br>

The plans' amounts recognized in the statutory-basis financial statements as of December 31 were as follows (in millions):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension Plan** | **Pension Plan** | **Other Plans** | **Other Plans** |
|  | **2025** | **2024** | **2025** | **2024** |
| Change in Projected Benefit Obligation: | Change in Projected Benefit Obligation: | Change in Projected Benefit Obligation: | Change in Projected Benefit Obligation: | Change in Projected Benefit Obligation: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benefit obligation, beginning of year | &nbsp;&nbsp; $1061 | &nbsp;&nbsp; $1112 | &nbsp;&nbsp; $71 | &nbsp;&nbsp; $76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service cost | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest cost | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial (gain) loss | &nbsp;&nbsp; 25 | &nbsp;&nbsp; (63)<br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers from defined contribution plan | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benefits paid | &nbsp;&nbsp; (69)<br>| &nbsp;&nbsp; (68)<br>| &nbsp;&nbsp; (9)<br>| &nbsp;&nbsp; (11)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plan changes | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benefit obligation, end of year | &nbsp;&nbsp; $1101 | &nbsp;&nbsp; $1061 | &nbsp;&nbsp; $70 | &nbsp;&nbsp; $71 |
| Change in Plan Assets: | Change in Plan Assets: | Change in Plan Assets: | Change in Plan Assets: | Change in Plan Assets: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value of plan assets, beginning of year | &nbsp;&nbsp; $1302 | &nbsp;&nbsp; $1249 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actual return on plan assets | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employer contribution | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 9 | &nbsp;&nbsp; 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers from defined contribution plan | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benefits paid | &nbsp;&nbsp; (69)<br>| &nbsp;&nbsp; (68)<br>| &nbsp;&nbsp; (9)<br>| &nbsp;&nbsp; (11)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value of plan assets, end of year | &nbsp;&nbsp; $1405 | &nbsp;&nbsp; $1302 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|

---

The significant changes in actuarial (gain)/loss of the 2025 projected benefit obligation primarily relates to decreased discount and crediting rates and cost of living adjustment increase assumptions. The significant changes in actuarial (gain)/loss of the 2024 projected benefit obligation primarily relates to an increased discount rate and assumption changes.

The plans' amounts recognized in the statutory-basis financial statements funding statuses and accumulated benefit obligation as of December 31 were as follows (in millions):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension Plan** | **Pension Plan** | **Other Plans** | **Other Plans** |
|  | **2025** | **2024** | **2025** | **2024** |
| Funded Status: | Funded Status: | Funded Status: | Funded Status: | Funded Status: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued benefit costs | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $(94)<br>| &nbsp;&nbsp; $(100)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset (Liability) for pension benefits | &nbsp;&nbsp; 304 | &nbsp;&nbsp; 241 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total overfunded (unfunded) liabilities | &nbsp;&nbsp; $304 | &nbsp;&nbsp; $241 | &nbsp;&nbsp; $(70)<br>| &nbsp;&nbsp; $(71)<br>|
| Deferred Items: | Deferred Items: | Deferred Items: | Deferred Items: | Deferred Items: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net (gain) loss  | &nbsp;&nbsp; $(74)<br>| &nbsp;&nbsp; $(15)<br>| &nbsp;&nbsp; $(17)<br>| &nbsp;&nbsp; $(21)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net prior service cost | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (7)<br>| &nbsp;&nbsp; (8)<br>|
| Accumulated amounts recognized in periodic pension expenses | &nbsp;&nbsp; $230 | &nbsp;&nbsp; $226 | &nbsp;&nbsp; $(94)<br>| &nbsp;&nbsp; $(100)<br>|
| Accumulated benefit obligation | &nbsp;&nbsp; $1086 | &nbsp;&nbsp; $1044 | &nbsp;&nbsp; $70 | &nbsp;&nbsp; $71 |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**9. Benefit Plans, continued**<br>

The unfunded liabilities for the pension plan and other postretirement plans at December 31, 2025 and 2024, are included in other liabilities in the Statutory-Basis Statement of Assets, Liabilities and Surplus. Overfunded liabilities for the pension plan and other postretirement plans for statutory reporting purposes are deemed non-admitted assets and therefore are charged directly against surplus.

A summary of the deferred items in the Statutory-Basis Statement of Surplus as of December 31 is as follows (in millions):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Pension Plan** | **Pension Plan** | **Pension Plan** | **Other Plans** | **Other Plans** | **Other Plans** |
|  | **Net Prior**<br> **Service**<br> **Cost**<br>| **Net**<br> **Recognized**<br> **Gains and**<br> **(Losses)**<br>| **Total** | **Net Prior**<br> **Service**<br> **Cost**<br>| **Net**<br> **Recognized**<br> **Gains and**<br> **(Losses)**<br>| **Total** |
| Balance, January 1, 2024 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $87 | &nbsp;&nbsp; $87 | &nbsp;&nbsp; $(9)<br>| &nbsp;&nbsp; $(23)<br>| &nbsp;&nbsp; $(32)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net prior service cost recognized | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net (gain) loss arising during <br> the period<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (101)<br>| &nbsp;&nbsp; (101)<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) recognized | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1 |
| Balance, December 31, 2024 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $(14)<br>| &nbsp;&nbsp; $(14)<br>| &nbsp;&nbsp; $(8)<br>| &nbsp;&nbsp; $(21)<br>| &nbsp;&nbsp; $(29)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net prior service cost recognized | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net (gain) loss arising during <br> the period<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (59)<br>| &nbsp;&nbsp; (59)<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) recognized | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1 |
| Balance, December 31, 2025 | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $(73)<br>| &nbsp;&nbsp; $(73)<br>| &nbsp;&nbsp; $(7)<br>| &nbsp;&nbsp; $(17)<br>| &nbsp;&nbsp; $(24)<br>|

---

The amounts in unassigned funds expected as of December 31 to be recognized in the next fiscal year as components of periodic benefit cost were as follows (in millions):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension Plan** | **Pension Plan** | **Other Plans** | **Other Plans** |
|  | **2025** | **2024** | **2025** | **2024** |
| Net prior service cost | &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $—<br>|
| Net recognized gains/(losses) | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|

---

***Pension and Other Postretirement Benefit Factors***

Thrivent periodically evaluates the long-term earned rate assumptions, taking into consideration historical performance of the plans' assets as well as current asset diversification and investment strategy in determining the rate of return assumptions used in calculating the plans' benefit expenses and obligation. Those assumptions are summarized in the table below.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension Plan** | **Pension Plan** | **Other Plans** | **Other Plans** |
|  | **2025** | **2024** | **2025** | **2024** |
| Weighted Average Assumptions: | Weighted Average Assumptions: | Weighted Average Assumptions: | Weighted Average Assumptions: | Weighted Average Assumptions: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discount rate | 5.4<br> %<br>| 5.7<br> %<br>| 5.4<br> %<br>| 5.7<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected return on plan assets | 6.8 | 6.8 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rate of compensation increase | 4.8 | 4.8 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest crediting rate | 4.1 | 4.4 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**9. Benefit Plans, continued**<br>

The assumed health care cost trend rate used in measuring the postretirement health care benefit obligation was 8.5% and 6.7% in 2025 for pre-65 participants and post-65 participants, respectively, trending down to 4.5% in 2034. The assumed health care cost trend rates can have a significant impact on the amounts reported. The Medicare Prescription Drug, Improvement and Modernization Act of 2003 includes a federal subsidy to sponsors of retirement health care plans that provide a prescription benefit that is at least actuarially equivalent to Medicare Part D. Thrivent's Medicare prescription plan is fully insured and therefore the plan's insurer receives the federal subsidy.

The interest crediting rates are used for cash balance plans.

Estimated pension benefit payments for the next ten years are as follows: 2026 – $81 million; 2027 – $84 million; 2028 – $85 million; 2029 – $87 million; 2030 –$88 million; and 2031 to 2035 – $450 million.

Estimated other post-retirement benefit payments for the next ten years are as follows: 2026 – $8 million; 2027 – $8 million; 2028 – $7 million; 2029 – $6 million; 2030 – $6 million; and 2031 to 2035 – $28 million.

The minimum pension contribution required for 2025 under the Employee Retirement Income Security Act of 1974, as amended ("ERISA") guidelines will be determined in the first quarter of 2026.

***Pension Assets***

The assets of Thrivent's qualified pension plan are held in the Thrivent Defined Benefit Plan Trust. Thrivent has a benefit plan investment committee that sets investment guidelines, which are established based on market conditions, risk tolerance, funding requirements and expected benefit payments. A third party oversees the investment allocation process and monitors asset performance. As pension liabilities are long term in nature, Thrivent employs a long-term total return approach to maximize the long-term rate of return on plan assets for a prudent level of risk.

The investment portfolio contains a diversified portfolio of investment categories, including equities and fixed income securities. Allocations for plan assets for the years ended December 31 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Target Allocation** | **Target Allocation** | **Actual Allocation** | **Actual Allocation** |
|  | **2025** | **2024** | **2025** | **2024** |
| Equity securities | &nbsp;&nbsp; 57<br> %<br>| &nbsp;&nbsp; 56<br> %<br>| &nbsp;&nbsp; 58<br> %<br>| &nbsp;&nbsp; 51<br> %<br>|
| Private Equity | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12 |
| Fixed income and other securities | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed income and other securities | &nbsp;&nbsp; 100<br> %<br>| &nbsp;&nbsp; 100<br> %<br>| &nbsp;&nbsp; 100<br> %<br>| &nbsp;&nbsp; 100<br> %<br>|

---

Securities are also diversified in terms of domestic and international securities, short- and long-term securities, growth and value styles, large-cap and small-cap stocks, active and passive management and derivative-based styles. With prudent risk tolerance and asset diversification, the plan is expected to meet the pension obligations in the future.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**9. Benefit Plans, continued**<br>

The fair values of the pension plan assets by asset category are presented below (in millions):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| Bonds | &nbsp;&nbsp; $72 | &nbsp;&nbsp; $203 | &nbsp;&nbsp; $1 | &nbsp;&nbsp; $276 |
| Common stocks | &nbsp;&nbsp; 664 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 664 |
| Affiliated mutual funds – equity funds | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 97 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 157 |
| Short-term investments | &nbsp;&nbsp; 127 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 140 |
| Limited partnerships | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 164 | &nbsp;&nbsp; 164 |
| Derivatives | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 9 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $922 | &nbsp;&nbsp; $322 | &nbsp;&nbsp; $165 | &nbsp;&nbsp; $1409 |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| Bonds | &nbsp;&nbsp; $74 | &nbsp;&nbsp; $213 | &nbsp;&nbsp; $2 | &nbsp;&nbsp; $289 |
| Common stocks | &nbsp;&nbsp; 575 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 575 |
| Affiliated mutual funds – equity funds | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 99 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 99 |
| Short-term investments | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 146 | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 195 |
| Limited partnerships | &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 165 | &nbsp;&nbsp; 165 |
| Derivatives | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $697 | &nbsp;&nbsp; $458 | &nbsp;&nbsp; $167 | &nbsp;&nbsp; $1322 |

---

The fair value of the pension plan assets as presented in the table above does not include net accrued liabilities of $4 million and $20 million as of December 31, 2025 and 2024, respectively.

There were no transfers of the pension plan Level 1 and Level 2 fair value measurements during 2025 or 2024. Transfers between fair value hierarchy levels are recognized at the end of the reporting period.

**<u>Defined Contribution Plans</u>**

Thrivent also provides contributory and noncontributory defined contribution retirement benefits that cover substantially all home office and field employees. Eligible participants in the 401(k) plan may elect to contribute a percentage of their eligible earnings, and Thrivent will match participant contributions up to 6% of eligible earnings. In addition, Thrivent will contribute a percentage of eligible earnings for participants in a noncontributory plan for field employees. For the years ended December 31, 2025, 2024 and 2023, Thrivent contributed $52 million, $46 million and $42 million, respectively, to these plans.

As of December 31, 2025 and 2024, $43 million and $49 million of the assets of the defined contribution plans were respectively invested in a deposit administration contract issued by Thrivent.

**10. Commitments and Contingent Liabilities**

**<u>Litigation and Other Proceedings</u>**

Thrivent is involved in various lawsuits, contractual matters and other contingencies that have arisen in the normal course of business. Thrivent assesses exposure to these matters periodically and adjusts the provision accordingly. As of December 31, 2025, Thrivent believes adequate provision has been made for any losses that may result from these matters.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**10. Commitments and Contingent Liabilities, continued**<br>

**<u>Financial Instruments</u>**

Thrivent is a party to financial instruments with on and off-balance sheet risk in the normal course of business. These instruments involve, to varying degrees, elements of credit, interest rate, equity price or liquidity risk in excess of the amount recognized in the Statutory-Basis Statements of Assets, Liabilities and Surplus. Thrivent's exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and financial guarantees is limited to the contractual amount of these instruments.

**<u>Commitments to Extend Credit</u>**

Thrivent has commitments to extend credit for mortgage loans and other lines of credit of $89 million as of December 31, 2025. Commitments to purchase limited partnerships, private placement bonds and other invested assets were $4.7 billion as of December 31, 2025. Thrivent has commitments to extend credit to Thrivent Bank subject to a borrowing limit of $85 million. This agreement has a revolving one-year maturity and can be terminated by either party.

**<u>Financial Guarantees</u>**

Thrivent has entered into an agreement to provide a Letter of Credit totaling $37 million through 2036 to guarantee certain debt obligations of a third-party civic organization in the event certain conditions occur, as defined in the agreement. This agreement is secured by the financial assets of the third party. Thrivent will receive 0.75% per annum for any unused line of credit. As of December 31, 2025 there was $0 outstanding on this line of credit.

Thrivent has guaranteed to maintain the Tier I capital of an affiliate, Thrivent Trust Company, at a minimum of $6 million, as required by Thrivent Trust Company's primary regulator.

**<u>Leases</u>**

Thrivent has operating leases for certain office equipment and real estate. Rental expense for these items totaled $14 million for each of the years ended December 31, 2025, 2024 and 2023 respectively. Future minimum rental commitments, in aggregate, as of December 31, 2025 were $137 million for operating leases. The future minimum rental payments for the five succeeding years are as follows: 2026 – $16 million; 2027 – $14 million; 2028 – $13 million; 2029 - $11 million; 2030 - $11 million; and thereafter – $72 million.

Leasing is not a significant part of Thrivent's business activities as lessor.

**11. Related Party Transactions**

**<u>Investments in Subsidiaries and Affiliated Entities</u>**

Thrivent's directly-owned subsidiary, Thrivent Holdings, Inc. ("Holdings"), is valued in accordance with SSAP No. 97 (*Investments in Subsidiary, Controlled and Affiliated Entities*). Annually, Thrivent files a "Form Sub-2" with the NAIC in support of the valuation of Holdings. The filing in support of the December 31, 2024, values was completed on May 5, 2025 and Thrivent received a response from the NAIC that did not disallow the valuation method.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**11. Related Party Transactions, continued**<br>

The admitted values were $738 million and $258 million related to Holdings for the years ended December 31, 2025 and 2024, respectively. Non-admitted values related to Holdings were $0 and $95 million for the years ended December 31, 2025 and 2024, respectively.

During 2025, Thrivent received cash distributions of $879 million and $345 million from majority-owned limited partnerships Thrivent White Rose Funds ("WRF") and Twin Bridge Funds ("TBF"), respectively. Thrivent received cash distributions of $74 million from Thrivent Education Funding, LLC ("TEF"). During this period, Thrivent made cash contributions as contributed capital to WRF, TBF, Holdings, TEF, and Gold Ring Holdings, LLC in the amounts of $964 million, $369 million, $389 million, $69 million and $3 million, respectively.

During 2025, Thrivent received cash distributions of $94 million from Holdings, treated as dividends.

**<u>Other Related Party Transactions</u>**

Thrivent has invested $97 million and $75 million in various Thrivent mutual funds/ETFs as of December 31, 2025 and 2024, respectively.

Thrivent subsidiaries are provided administrative services from Thrivent in accordance with intercompany service agreements. The total value of services provided under these agreements totaled $183 million, $153 million and $144 million for the years ended December 31, 2025, 2024 and 2023, respectively. The net receivables due from affiliates for the years ended December 31, 2025 and 2024 were $14 million and $11 million, respectively, which is included in other assets in the Statutory-Basis Financial Statements of Assets, Liabilities and Surplus.

Thrivent has an agreement with an affiliate who distributes Thrivent's variable products. Under the terms of the agreement, Thrivent paid commissions, bonuses and other benefits to the affiliate totaling <br> $186 million, $156 million and $106 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Thrivent is the investment advisor for the Thrivent Series Portfolios in which the separate accounts assets are primarily invested. Advisor fees in the amount of $194 million, $196 million and $184 million for the years ended December 31, 2025, 2024 and 2023, respectively, were included in separate account fees in the Statutory-Basis Statement of Operations.

In December 2018, Thrivent acquired a variable funding note ("VFN") issued by TEF, an affiliate of Thrivent. The VFN is supported by an indenture collateralized by student loans. The VFN is reported as a bond in the accompanying Statutory-Basis Statement of Assets and had an outstanding balance of $0 as of December 31, 2025 and 2024. The VFN was paid off in full by TEF in December 2024 and Thrivent recorded an increase of less than $1 million to net investment income on the paydown.

In May 2022, a separate VFN was acquired from TEF that is supported by an indenture agreement, last amended in December 2022, and allows for a maximum aggregate principal amount of $750 million and is collateralized by point-of-sale unsecured consumer loans. The VFN is reported as a bond in the accompanying Statutory-Basis Statement of Assets and had an outstanding balance of $0 and $607 million as of December 31, 2025 and 2024, respectively. During 2025, Thrivent invested $184 million in the VFN and received $760 million of principal payments.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**11. Related Party Transactions, continued**<br>

In July 2022, Holdings purchased 69.4% of Blue Rock Holdco, LLC. ("Blue Rock"), for $222 million. As of December 31, 2025, Holdings currently owns 69.6% of Blue Rock. Blue Rock is a holding company operating as a marketing and servicing provider of student loans through various subsidiary entities. The admitted value of Holdings on Thrivent's balance sheet is valued in accordance with SSAP No. 97. As part of the purchase acquisition, Blue Rock purchased College Avenue Student Loans ("CASL") a private student loan originator and servicer.

In December 2022, Thrivent acquired an asset-backed security ("ABS") issued by CASL. The ABS is supported by an indenture collateralized by student loans. The ABS is reported as a bond in the accompanying Statutory-Basis Statement of Assets and had an outstanding balance of $0 as of December 31, 2025 and 2024. The ABS was paid off in full by CASL in December 2024.

In December 2023, White Rose CFO 2023 Holdings, LLC ("Issuer"), a wholly owned subsidiary of Thrivent, issued a Collateralized Fund Obligation (CFO) whereby debt was issued to third parties. Issuer made available to third party investors approximately $400 million in fixed rate debt. Upon issuance of the debt, approximately $364 million in net proceeds were returned from Issuer to Thrivent. Thrivent retained approximately $436 million of an equity investment in the CFO structure in the form of a residual tranche. During 2025, Thrivent received cash distributions of $42 million. The residual tranche is reported in Other Invested Assets in the accompanying Statutory-Basis Statement of Assets, Liabilities and Surplus and has a fair value of $401 million as of December 31, 2025.

In support of the CFO, Thrivent transferred their interest in portions of certain investments in WRF with a fair value of approximately $800 million to White Rose CFO 2023, LLC ("Asset HoldCo"), a wholly-owned, bankruptcy-remote subsidiary of Thrivent as underlying collateral for the CFO. These transferred WRF assets had a cost of approximately $739 million and carried an unrealized gain of approximately $61 million when they were transferred to Asset HoldCo. Thrivent then contributed its entire investment in Asset HoldCo to Issuer, with no impact to surplus. Thrivent is the named investment manager for the CFO structure and is entitled to a management fee as outlined in the executed investment management agreement between Asset HoldCo and Thrivent.

In December 2024, Thrivent acquired a multi-tranche debt security issued by CASL, which includes six debt tranches and a residual tranche that are collateralized by student loans. The individual tranches are reported as bonds and the residual tranche is reported as other invested assets in the accompanying Statutory-Basis Statement of Assets. These securities had an aggregate outstanding balance of $2 billion as of December 31, 2025.

In June 2025, Thrivent Bank launched via a merger with Thrivent Federal Credit Union. Thrivent contributed capital of $356 million to launch Thrivent Bank and to fund the Thrivent Federal Credit Union member buyout and is included in the above noted $389 million contribution to Holdings.

In August 2025, Thrivent launched Thrivent Investment Capital Advisors, LLC ("TICA"), a new registered investment advisor and indirect wholly-owned subsidiary of Thrivent. TICA is reported in affiliated common stocks in the accompanying Statutory-Basis Statement of Assets, Liabilities and Surplus and has a fair value of $5 million as of December 31, 2025.

------

**Thrivent Financial for Lutherans**

Notes to Statutory-Basis Financial Statements, continued

**11. Related Party Transactions, continued**<br>

In September 2025, Thrivent entered into an agreement, whereby certain private equity limited partnership interests with a fair value of $1.6 billion were contributed to Trout Holdings GP, LLC. In 2025, Thrivent received $820 million in cash and the agreement allowed for future cash payments on deferred funding dates of 25% or $280 million six months after the closing date. The cash payments subsequent to the closing date are secured by a corresponding interest in the underlying funds of Trout Holdings GP, LLC and these payments are reported in receivables for securities. Thrivent is taking a 30% equity stake in Trout Holdings GP, LLC and is reported in other invested assets and has fair value of $486 million as of December 31, 2025.

In December 2025, Thrivent entered into a Backstop Purchase Agreement, where Thrivent has agreed to provide a guarantee to a third party and CASL to purchase the loans originated and held at the third party should CASL breach their purchase obligation. Thrivent will be providing the guarantee up to the maximum backstop amount of $1 billion, which could create additional future exposure from multiple disbursement loans not fully disbursed by date of purchase. As of December 31, 2025, CASL has not breached their purchase obligation and Thrivent was not required to purchase loans under the terms of the agreement.

------

**Report of Independent Registered Public Accounting Firm**

To the Board of Directors of Thrivent Financial for Lutherans and the Contract Owners of Thrivent Variable Life Account I

**Opinions on the Financial Statements**

We have audited the accompanying statements of assets and liabilities of each of the subaccounts of Thrivent Variable Life Account I indicated in Note 1, as of December 31, 2025, the related statements of operations for the year then ended, and the statements of changes in net assets for each of the two years in the period ended December 31, 2025, including the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the subaccounts of Thrivent Variable Life Account I as of December 31, 2025, the results of each of their operations for the year then ended, and the changes in each of their net assets for each of the two years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinions**

These financial statements are the responsibility of the Thrivent Financial for Lutherans management. Our responsibility is to express an opinion on the financial statements of each of the subaccounts of Thrivent Variable Life Account I based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to each of the subaccounts of Thrivent Variable Life Account I in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of investments owned as of December 31, 2025 by correspondence with the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Minneapolis, Minnesota <br>April 29, 2026

We have served as the auditor of one or more of the subaccounts of Thrivent Variable Life Account I since 2014.

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

STATEMENTS OF ASSETS AND LIABILITIES

DECEMBER 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Subaccount** | **Investments**<br> **at fair value**<br>| **Net**<br> **Assets**<br>| **Series funds,**<br> **at cost**<br>| **Series funds**<br> **shares**<br> **owned**<br>|
| Aggressive Allocation | $463860329 | $463860329 | $375835185 | 22641801 |
| All Cap | $18934170  | $18934170  | $13922923  | &nbsp;&nbsp;&nbsp;&nbsp; 904392 |
| Conservative Allocation | $18793966  | $18793966  | $17982056  | 2342714 |
| Dynamic Allocation | $18536597  | $18536597  | $16744622  | 1138983 |
| Emerging Markets Equity | $9648713 | $9648713 | $8026120 | &nbsp;&nbsp;&nbsp;&nbsp; 589486 |
| ESG Index | $5122632 | $5122632 | $3558132 | &nbsp;&nbsp;&nbsp;&nbsp; 226602 |
| Global Stock | $47920779  | $47920779  | $36427947  | 2955464 |
| Government Bond | $11800195  | $11800195  | $12399208  | 1191362 |
| Healthcare | $15342691  | $15342691  | $13200089  | &nbsp;&nbsp;&nbsp;&nbsp; 562477 |
| High Yield | $12753802  | $12753802  | $13070098  | 2987398 |
| Income | $15499860  | $15499860  | $16157402  | 1718864 |
| International Equity | $45206896  | $45206896  | $33990700  | 3686356 |
| International Index | $14247840  | $14247840  | $11329060  | &nbsp;&nbsp;&nbsp;&nbsp; 830745 |
| Large Cap Growth | $188431893 | $188431893 | $139332569 | 3014998 |
| Large Cap Index | $360841331 | $360841331 | $201551421 | 4110246 |
| Large Cap Value | $42386589  | $42386589  | $34633966  | 1731442 |
| Mid Cap Growth | $6279304 | $6279304 | $5668109 | &nbsp;&nbsp;&nbsp;&nbsp; 406057 |
| Mid Cap Index | $104756933 | $104756933 | $87159085  | 4481446 |
| Mid Cap Stock | $80264753  | $80264753  | $75713356  | 4059290 |
| Mid Cap Value | $2908349 | $2908349 | $2570071 | &nbsp;&nbsp;&nbsp;&nbsp; 154085 |
| Moderate Allocation | $188426007 | $188426007 | $166862558 | 11973134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive <br> Allocation<br>| $616054124 | $616054124 | $510344979 | 34012274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative <br> Allocation<br>| $17576753  | $17576753  | $16726103  | 1299229 |
| Money Market | $12093203  | $12093203  | $12093203  | 12093203 |
| Multisector Bond | $6083303 | $6083303 | $6129087 | &nbsp;&nbsp;&nbsp;&nbsp; 657072 |
| Real Estate Securities | $11501744  | $11501744  | $11613506  | &nbsp;&nbsp;&nbsp;&nbsp; 482220 |
| Short-Term Bond | $8496312 | $8496312 | $8360167 | &nbsp;&nbsp;&nbsp;&nbsp; 855130 |
| Small Cap Growth | $8761521 | $8761521 | $8007499 | &nbsp;&nbsp;&nbsp;&nbsp; 506060 |
| Small Cap Index | $121453079 | $121453079 | $102764038 | 5637207 |
| Small Cap Stock | $51724977  | $51724977  | $47942030  | 2747294 |

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The accompanying notes are an integral part of these financial statements.

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Investment**<br> **Income**<br>| **Net**<br> **investment**<br> **income (loss)** | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | **Realized and unrealized gain (loss) on investments** | **Net gain**<br> **(loss) on**<br> **investments** | **Net increase**<br> **(decrease) in**<br> **net assets**<br> **resulting from**<br> **operations** |
| **Subaccount** | **Dividends** | **Net**<br> **investment**<br> **income (loss)** | **Net realized**<br> **gain (loss)**<br> **on sale of**<br> **investments**<br>| **Capital gain**<br> **distributions**<br>| **Change in**<br> **unrealized**<br> **appreciation**<br> **(depreciation)**<br> **of investments**<br>| **Net gain**<br> **(loss) on**<br> **investments** | **Net increase**<br> **(decrease) in**<br> **net assets**<br> **resulting from**<br> **operations** |
| Aggressive Allocation | $6659818 | $6659818 | $3158824 | $31905465 | $20523614 | $55587903 | $62247721 |
| All Cap | $92550 | $92550 | $283570 | $427452 | $1968815 | $2679837 | $2772387 |
| Conservative Allocation | $747014 | $747014 | $15153 | $—  | $852051 | $867204 | $1614218 |
| Dynamic Allocation | $581870 | $581870 | $84386 | $411488 | $1030419 | $1526293 | $2108163 |
| Emerging Markets Equity | $136920 | $136920 | $57972 | $125514 | $1971068 | $2154554 | $2291474 |
| ESG Index | $41686 | $41686 | $191248 | $—  | $537244 | $728492 | $770178 |
| Global Stock | $738419 | $738419 | $489157 | $3622537 | $3128094 | $7239788 | $7978207 |
| Government Bond | $437036 | $437036 | $(66780) | $—  | $415890 | $349110 | $786146 |
| Healthcare | $98381 | $98381 | $84474 | $34881 | $1544488 | $1663843 | $1762224 |
| High Yield | $760014 | $760014 | $(40401) | $—  | $286581 | $246180 | $1006194 |
| Income | $651766 | $651766 | $(58879) | $—  | $493121 | $434242 | $1086008 |
| International Equity | $908061 | $908061 | $535610 | $—  | $9235519 | $9771129 | $10679190 |
| International Index | $254533 | $254533 | $94437 | $—  | $2595204 | $2689641 | $2944174 |
| Large Cap Growth | $649297 | $649297 | $2400938 | $12493166 | $10675076 | $25569180 | $26218477 |
| Large Cap Index | $3256338 | $3256338 | $6650097 | $8936465 | $34080730 | $49667292 | $52923630 |
| Large Cap Value | $579449 | $579449 | $475606 | $4413357 | $1353988 | $6242951 | $6822400 |
| Mid Cap Growth | $—  | $—  | $56731 | $—  | $73619 | $130350 | $130350 |
| Mid Cap Index | $1124504 | $1124504 | $626412 | $4025948 | $1192271 | $5844631 | $6969135 |
| Mid Cap Stock | $612855 | $612855 | $520381 | $8085900 | $(5567411)  | $3038870 | $3651725 |
| Mid Cap Value | $29125 | $29125 | $34201 | $193315 | $27606 | $255122 | $284247 |
| Moderate Allocation | $4446652 | $4446652 | $948376 | $14021998 | $3073839 | $18044213 | $22490865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive <br> Allocation<br>| $10796064 | $10796064 | $4259099 | $34282706 | $32713495 | $71255300 | $82051364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative <br> Allocation<br>| $607896 | $607896 | $42818 | $834102 | $448061 | $1324981 | $1932877 |
| Money Market | $426994 | $426994 | $—  | $—  | $—  | $—  | $426994 |
| Multisector Bond | $264471 | $264471 | $(15694) | $—  | $167838 | $152144 | $416615 |
| Real Estate Securities | $268112 | $268112 | $36794 | $790622 | $(1022147)  | $(194731) | $73381 |
| Short-Term Bond | $350475 | $350475 | $7591 | $—  | $133573 | $141164 | $491639 |
| Small Cap Growth | $—  | $—  | $61496 | $—  | $113587 | $175083 | $175083 |
| Small Cap Index | $1418391 | $1418391 | $605519 | $4714161 | $113872 | $5433552 | $6851943 |
| Small Cap Stock | $302093 | $302093 | $530704 | $2888596 | $(2399318)  | $1019982 | $1322075 |

---

The accompanying notes are an integral part of these financial statements.

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2025

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Increase (decrease) in net assets from operations** | **Increase (decrease) in net assets from operations** | **Increase (decrease) in net assets from operations** | **Net Change**<br> **in Net**<br> **Assets from**<br> **Operations** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Net Change**<br> **in Net**<br> **Assets from**<br> **Unit**<br> **Transactions** | **Net Change**<br> **in Net Assets** | **Net Assets**<br> **Beginning of**<br> **Year** | **Net Assets**<br> **End of Year** |
| **Subaccount** | **Net**<br> **investment**<br> **income**<br> **(loss)**<br>| **Net realized**<br> **gain (loss) on**<br> **investments and**<br> **capital gain**<br> **distributions**<br>| **Change in net**<br> **unrealized**<br> **appreciation**<br> **(depreciation)**<br> **on**<br> **investments**<br>| **Net Change**<br> **in Net**<br> **Assets from**<br> **Operations** | **Proceeds**<br> **from units**<br> **issued**<br>| **Transfers for**<br> **contract benefits** <br>**and**<br> **terminations**<br>| **Cost of insurance** <br> **and administrative** <br> **charges**<br>| **Transfers**<br> **between**<br> **subaccounts**<br>| **Mortality and** <br> **expense risk** <br> **charges**<br>| **Asset based risk** <br> **charge**<br>| **Net Change**<br> **in Net**<br> **Assets from**<br> **Unit**<br> **Transactions** | **Net Change**<br> **in Net Assets** | **Net Assets**<br> **Beginning of**<br> **Year** | **Net Assets**<br> **End of Year** |
| Aggressive Allocation | $6659818 | $35064289 | $20523614 | $62247721 | $45503990 | $(15903712) | $(10333551) | $(593259) | $(1028888) | $(637157) | $17007423 | $79255144 | $384605185 | $463860329 |
| All Cap | $92550 | $711022 | $1968815 | $2772387 | $2725047 | $(376001) | $(398774) | $(106722) | $(46004) | $(11656) | $1785890 | $4558277 | $14375893  | $18934170  |
| Conservative Allocation | $747014 | $15153 | $852051 | $1614218 | $1879151 | $(540164) | $(481518) | $1356389 | $(40794) | $(20828) | $2152236 | $3766454 | $15027512  | $18793966  |
| Dynamic Allocation | $581870 | $495874 | $1030419 | $2108163 | $977185 | $(612650) | $(495894) | $(59802) | $(44516) | $(7540) | $(243217) | $1864946 | $16671651  | $18536597  |
| Emerging Markets Equity | $136920 | $183486 | $1971068 | $2291474 | $953448 | $(112674) | $(187041) | $(203545) | $(16650) | $(15230) | $418308 | $2709782 | $6938931 | $9648713 |
| ESG Index | $41686 | $191248 | $537244 | $770178 | $731183 | $(137235) | $(129868) | $(388688) | $(15273) | $(2626) | $57493 | $827671 | $4294961 | $5122632 |
| Global Stock | $738419 | $4111694 | $3128094 | $7978207 | $1943070 | $(1092396)  | $(881684) | $1282471 | $(114610) | $(15510) | $1121341 | $9099548 | $38821231  | $47920779  |
| Government Bond | $437036 | $(66780) | $415890 | $786146 | $989098 | $(356904) | $(320722) | $403855 | $(26313) | $(27345) | $661669 | $1447815 | $10352380  | $11800195  |
| Healthcare | $98381 | $119355 | $1544488 | $1762224 | $1385748 | $(72751) | $(300792) | $39396 | $(25759) | $(24866) | $1000976 | $2763200 | $12579491  | $15342691  |
| High Yield | $760014 | $(40401) | $286581 | $1006194 | $1656966 | $(389452) | $(327773) | $163584 | $(33520) | $(13896) | $1055909 | $2062103 | $10691699  | $12753802  |
| Income | $651766 | $(58879) | $493121 | $1086008 | $1766996 | $(213434) | $(373864) | $487965 | $(41244) | $(17358) | $1609061 | $2695069 | $12804791  | $15499860  |
| International Equity | $908061 | $535610 | $9235519 | $10679190 | $2553098 | $(1387157)  | $(810776) | $(181052) | $(98045) | $(40797) | $35271 | $10714461 | $34492435  | $45206896  |
| International Index | $254533 | $94437 | $2595204 | $2944174 | $2844550 | $(330974) | $(309026) | $1056673 | $(39905) | $(4339) | $3216979 | $6161153 | $8086687 | $14247840  |
| Large Cap Growth | $649297 | $14894104 | $10675076 | $26218477 | $20550298 | $(4920190)  | $(4035908)  | $2872682 | $(429783) | $(154771) | $13882328 | $40100805 | $148331088 | $188431893 |
| Large Cap Index | $3256338 | $15586562 | $34080730 | $52923630 | $38435721 | $(10788540) | $(7261691)  | $1574858 | $(728588) | $(374480) | $20857280 | $73780910 | $287060421 | $360841331 |
| Large Cap Value | $579449 | $4888963 | $1353988 | $6822400 | $4229116 | $(951947) | $(884716) | $993150 | $(99342) | $(31026) | $3255235 | $10077635 | $32308954  | $42386589  |
| Mid Cap Growth | $—  | $56731 | $73619 | $130350 | $1469494 | $(14198) | $(216270) | $(441923) | $(17599) | $(6388) | $773116 | $903466 | $5375838 | $6279304 |
| Mid Cap Index | $1124504 | $4652360 | $1192271 | $6969135 | $14325378 | $(2885917)  | $(2547305)  | $1315735 | $(216964) | $(170011) | $9820916 | $16790051 | $87966882  | $104756933 |
| Mid Cap Stock | $612855 | $8606281 | $(5567411)  | $3651725 | $7809753 | $(2491656)  | $(1820610)  | $(2241298) | $(205972) | $(74232) | $975985 | $4627710 | $75637043  | $80264753  |
| Mid Cap Value | $29125 | $227516 | $27606 | $284247 | $482386 | $(172379) | $(78626) | $(109402) | $(8447) | $(2398) | $111134 | $395381 | $2512968 | $2908349 |
| Moderate Allocation | $4446652 | $14970374 | $3073839 | $22490865 | $13251043 | $(4355884)  | $(5345514)  | $(750050) | $(438134) | $(204944) | $2156517 | $24647382 | $163778625 | $188426007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive <br> Allocation<br>| $10796064 | $38541805 | $32713495 | $82051364 | $50219473 | $(24917973) | $(14504181) | $(2247933) | $(1381596) | $(770372) | $6397418 | $88448782 | $527605342 | $616054124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative <br> Allocation<br>| $607896 | $876920 | $448061 | $1932877 | $865116 | $(445214) | $(613386) | $47070 | $(43557) | $(17701) | $(207672) | $1725205 | $15851548  | $17576753  |
| Money Market | $426994 | $—  | $—  | $426994 | $2276826 | $(2266947)  | $(407092) | $959116 | $(34581) | $(26140) | $501182 | $928176 | $11165027  | $12093203  |
| Multisector Bond | $264471 | $(15694) | $167838 | $416615 | $690333 | $(146073) | $(166454) | $206509 | $(17674) | $(7018) | $559623 | $976238 | $5107065 | $6083303 |
| Real Estate Securities | $268112 | $827416 | $(1022147)  | $73381 | $1019579 | $(243666) | $(298794) | $282693 | $(30420) | $(16414) | $712978 | $786359 | $10715385  | $11501744  |
| Short-Term Bond | $350475 | $7591 | $133573 | $491639 | $591896 | $(380985) | $(292390) | $57087 | $(26352) | $(14138) | $(64882) | $426757 | $8069555 | $8496312 |
| Small Cap Growth | $—  | $61496 | $113587 | $175083 | $1882907 | $(138430) | $(283994) | $(586635) | $(25437) | $(8676) | $839735 | $1014818 | $7746703 | $8761521 |
| Small Cap Index | $1418391 | $5319680 | $113872 | $6851943 | $13890626 | $(3229491)  | $(2764789)  | $814506 | $(254976) | $(155527) | $8300349 | $15152292 | $106300787 | $121453079 |
| Small Cap Stock | $302093 | $3419300 | $(2399318)  | $1322075 | $5215916 | $(1564481)  | $(1150421)  | $(3875797) | $(144433) | $(30894) | $(1550110)  | $(228035) | $51953012  | $51724977  |

---

The accompanying notes are an integral part of these financial statements.

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2024

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Increase (decrease) in net assets from operations** | **Increase (decrease) in net assets from operations** | **Increase (decrease) in net assets from operations** | **Net Change**<br> **in Net**<br> **Assets from**<br> **Operations** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Increase (decrease) in net assets from contract related transactions** | **Net Change**<br> **in Net**<br> **Assets from**<br> **Unit**<br> **Transactions** | **Net Change**<br> **in Net Assets** | **Net Assets**<br> **Beginning of**<br> **Year** | **Net Assets**<br> **End of Year** |
| **Subaccount** | **Net**<br> **investment**<br> **income**<br> **(loss)**<br>| **Net realized**<br> **gain (loss) on**<br> **investments and**<br> **capital gain**<br> **distributions**<br>| **Change in net**<br> **unrealized**<br> **appreciation**<br> **(depreciation)**<br> **on**<br> **investments**<br>| **Net Change**<br> **in Net**<br> **Assets from**<br> **Operations** | **Proceeds**<br> **from units**<br> **issued**<br>| **Transfers for**<br> **contract benefits** <br>**and**<br> **terminations**<br>| **Cost of insurance** <br> **and administrative** <br> **charges**<br>| **Transfers**<br> **between**<br> **subaccounts**<br>| **Mortality and** <br> **expense risk** <br> **charges**<br>| **Asset based risk** <br> **charge**<br>| **Net Change**<br> **in Net**<br> **Assets from**<br> **Unit**<br> **Transactions** | **Net Change**<br> **in Net Assets** | **Net Assets**<br> **Beginning of**<br> **Year** | **Net Assets**<br> **End of Year** |
| Aggressive Allocation | $5283114 | $15895123 | $30380596 | $51558833 | $39756366 | $(10718257) | $(9307343)  | $(1033514) | $(872765) | $(620549) | $17203938 | $68762771 | $315842414 | $384605185 |
| All Cap | $88181 | $533662 | $1703416 | $2325259 | $1735730 | $(384765) | $(328292) | $(464366) | $(35603) | $(11046) | $511658 | $2836917 | $11538976  | $14375893  |
| Conservative Allocation | $669782 | $(44511) | $353473 | $978744 | $1556797 | $(741757) | $(433604) | $(226120) | $(35374) | $(20878) | $99064 | $1077808 | $13949704  | $15027512  |
| Dynamic Allocation | $550753 | $30790 | $741811 | $1323354 | $940733 | $(634228) | $(476237) | $(184932) | $(41379) | $(6196) | $(402239) | $921115 | $15750536  | $16671651  |
| Emerging Markets Equity | $176875 | $492297 | $(132939) | $536233 | $917508 | $(277305) | $(158078) | $(223532) | $(13254) | $(13983) | $231356 | $767589 | $6171342 | $6938931 |
| ESG Index | $34806 | $34381 | $634974 | $704161 | $724797 | $(83513) | $(110055) | $116727 | $(11715) | $(2360) | $633881 | $1338042 | $2956919 | $4294961 |
| Global Stock | $734846 | $1586550 | $2790757 | $5112153 | $1858918 | $(1477749)  | $(826527) | $926213 | $(100742) | $(13382) | $366731 | $5478884 | $33342347  | $38821231  |
| Government Bond | $397766 | $(74939) | $(206331) | $116496 | $942351 | $(304158) | $(297832) | $532679 | $(23299) | $(25834) | $823907 | $940403 | $9411977 | $10352380  |
| Healthcare | $102224 | $873546 | $(989881) | $(14111) | $1571725 | $(675604) | $(308185) | $(273543) | $(23275) | $(29918) | $261200 | $247089 | $12332402  | $12579491  |
| High Yield | $634686 | $(66374) | $111555 | $679867 | $1286959 | $(398584) | $(297119) | $404147 | $(27030) | $(13946) | $954427 | $1634294 | $9057405 | $10691699  |
| Income | $519010 | $(131956) | $(10771) | $376283 | $1580549 | $(744530) | $(326651) | $1065784 | $(33969) | $(16265) | $1524918 | $1901201 | $10903590  | $12804791  |
| International Equity | $1081504 | $179580 | $183565 | $1444649 | $2059184 | $(1553718)  | $(737700) | $(158714) | $(85473) | $(38643) | $(515064) | $929585 | $33562850  | $34492435  |
| International Index | $184684 | $24596 | $(81325) | $127955 | $2384452 | $(135858) | $(214262) | $472640 | $(24998) | $(2227) | $2479747 | $2607702 | $5478985 | $8086687 |
| Large Cap Growth | $549839 | $10228257 | $22651369 | $33429465 | $14452673 | $(4087653)  | $(3186554)  | $1861187 | $(336840) | $(140470) | $8562343 | $41991808 | $106339280 | $148331088 |
| Large Cap Index | $3045799 | $9760414 | $42623216 | $55429429 | $31252256 | $(10209426) | $(6165513)  | $(1960029) | $(563956) | $(361228) | $11992104 | $67421533 | $219638888 | $287060421 |
| Large Cap Value | $482242 | $1285263 | $1868404 | $3635909 | $3309340 | $(1400725)  | $(740305) | $(27585) | $(80177) | $(28207) | $1032341 | $4668250 | $27640704  | $32308954  |
| Mid Cap Growth | $—  | $31612 | $405275 | $436887 | $1141496 | $(71020) | $(187656) | $333466 | $(13815) | $(7011) | $1195460 | $1632347 | $3743491 | $5375838 |
| Mid Cap Index | $1025997 | $1920391 | $7042610 | $9988998 | $11927726 | $(2639446)  | $(2254110)  | $1359645 | $(174888) | $(170391) | $8048536 | $18037534 | $69929348  | $87966882  |
| Mid Cap Stock | $373576 | $1110850 | $5176097 | $6660523 | $8067030 | $(2096845)  | $(1718851)  | $1321276 | $(184563) | $(75545) | $5312502 | $11973025 | $63664018  | $75637043  |
| Mid Cap Value | $29699 | $74046 | $118237 | $221982 | $457807 | $(55090) | $(72110) | $(218583) | $(6997) | $(2342) | $102685 | $324667 | $2188301 | $2512968 |
| Moderate Allocation | $3659678 | $7167689 | $8014934 | $18842301 | $13160644 | $(6412838)  | $(5083879)  | $(549572) | $(388820) | $(214946) | $510589 | $19352890 | $144425735 | $163778625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive <br> Allocation<br>| $9257790 | $20213215 | $34970488 | $64441493 | $47928063 | $(16108811) | $(13516099) | $(3050949) | $(1217089) | $(798584) | $13236531 | $77678024 | $449927318 | $527605342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative <br> Allocation<br>| $482028 | $152517 | $533120 | $1167665 | $827042 | $(317287) | $(580980) | $1109011 | $(39481) | $(19513) | $978792 | $2146457 | $13705091  | $15851548  |
| Money Market | $460875 | $—  | $—  | $460875 | $1657578 | $(1191204)  | $(374474) | $2693454 | $(32501) | $(27035) | $2725818 | $3186693 | $7978334 | $11165027  |
| Multisector Bond | $207017 | $(49604) | $52738 | $210151 | $553353 | $(458458) | $(137996) | $1061841 | $(13815) | $(7112) | $997813 | $1207964 | $3899101 | $5107065 |
| Real Estate Securities | $268295 | $487570 | $(427174) | $328691 | $1005826 | $(595203) | $(283477) | $181642 | $(28392) | $(17212) | $263184 | $591875 | $10123510  | $10715385  |
| Short-Term Bond | $294678 | $(8386) | $125950 | $412242 | $566972 | $(369644) | $(291099) | $878688 | $(24621) | $(15253) | $745043 | $1157285 | $6912270 | $8069555 |
| Small Cap Growth | $—  | $40397 | $645579 | $685976 | $1691865 | $(207696) | $(263202) | $(39580) | $(20587) | $(9579) | $1151221 | $1837197 | $5909506 | $7746703 |
| Small Cap Index | $1290188 | $663854 | $6127081 | $8081123 | $12089378 | $(2752399)  | $(2587562)  | $1672894 | $(218213) | $(157154) | $8046944 | $16128067 | $90172720  | $106300787 |
| Small Cap Stock | $304406 | $159598 | $4652087 | $5116091 | $4638524 | $(1256455)  | $(1072043)  | $1071088 | $(134626) | $(31918) | $3214570 | $8330661 | $43622351  | $51953012  |

---

The accompanying notes are an integral part of these financial statements.

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2025

**(1) ORGANIZATION**

The Thrivent Variable Life Account I (the Variable Account) is a unit investment trust registered under the Investment Company Act of 1940 and is a separate account of Thrivent Financial for Lutherans (Thrivent Financial). The Variable Account has 30 subaccounts, each of which invests in a corresponding portfolio of the Thrivent Series Fund, Inc. (each a Fund and collectively the Funds), as provided below. For each subaccount, the financial statements are comprised of a statement of assets and liabilities as of December 31, 2025, a related statement of operations for the year then ended and statements of changes in net assets for each of the two years in the period then ended, all presented to reflect a full twelve month period.

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| | |
|:---|:---|
| **Subaccount** | **Series** |
| Aggressive Allocation | Thrivent Series Fund, Inc. — Aggressive Allocation Portfolio |
| All Cap | Thrivent Series Fund, Inc. — All Cap Portfolio |
| Conservative Allocation | Thrivent Series Fund, Inc. — Conservative Allocation Portfolio |
| Dynamic Allocation | Thrivent Series Fund, Inc. — Dynamic Allocation Portfolio |
| Emerging Markets Equity | Thrivent Series Fund, Inc. — Emerging Markets Equity Portfolio |
| ESG Index | Thrivent Series Fund, Inc. — ESG Index Portfolio |
| Global Stock | Thrivent Series Fund, Inc. — Global Stock Portfolio |
| Government Bond | Thrivent Series Fund, Inc. — Government Bond Portfolio |
| Healthcare | Thrivent Series Fund, Inc. — Healthcare Portfolio |
| High Yield | Thrivent Series Fund, Inc. — High Yield Portfolio |
| Income | Thrivent Series Fund, Inc. — Income Portfolio |
| International Equity | Thrivent Series Fund, Inc. — International Equity Portfolio |
| International Index | Thrivent Series Fund, Inc. — International Index Portfolio |
| Large Cap Growth | Thrivent Series Fund, Inc. — Large Cap Growth Portfolio |
| Large Cap Index | Thrivent Series Fund, Inc. — Large Cap Index Portfolio |
| Large Cap Value | Thrivent Series Fund, Inc. — Large Cap Value Portfolio |
| Mid Cap Growth | Thrivent Series Fund, Inc. — Mid Cap Growth Portfolio |
| Mid Cap Index | Thrivent Series Fund, Inc. — Mid Cap Index Portfolio |
| Mid Cap Stock | Thrivent Series Fund, Inc. — Mid Cap Stock Portfolio |
| Mid Cap Value | Thrivent Series Fund, Inc. — Mid Cap Value Portfolio |
| Moderate Allocation | Thrivent Series Fund, Inc. — Moderate Allocation Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive <br> Allocation<br>| Thrivent Series Fund, Inc. — Moderately Aggressive Allocation Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative <br> Allocation<br>| Thrivent Series Fund, Inc. — Moderately Conservative Allocation Portfolio |
| Money Market | Thrivent Series Fund, Inc. — Money Market Portfolio |
| Multisector Bond | Thrivent Series Fund, Inc. — Multisector Bond Portfolio |
| Real Estate Securities | Thrivent Series Fund, Inc. — Real Estate Securities Portfolio |
| Short-Term Bond | Thrivent Series Fund, Inc. — Short-Term Bond Portfolio |
| Small Cap Growth | Thrivent Series Fund, Inc. — Small Cap Growth Portfolio |
| Small Cap Index | Thrivent Series Fund, Inc. — Small Cap Index Portfolio |
| Small Cap Stock | Thrivent Series Fund, Inc. — Small Cap Stock Portfolio |

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The Funds are registered under the Investment Company Act of 1940 as open-end, management investment companies. The Funds are managed by Thrivent Investment Management, Inc. which is an affiliate of Thrivent Financial.

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**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(1) ORGANIZATION - continued**<br>

The Variable Account is used to fund flexible premium variable universal life insurance contracts issued by Thrivent Financial. Under applicable insurance law, the assets and liabilities of the Variable Account are clearly identified and distinguished from the other assets and liabilities of Thrivent Financial. The assets of the Variable Account will not be charged with any liabilities arising out of any other business conducted by the insurance operations of Thrivent Financial.

A Fixed Account investment option is available for contract owners of the flexible premium variable universal life insurance contracts. Assets of the Fixed Account are combined with the general assets of Thrivent Financial and invested by Thrivent Financial as allowed by applicable law. Accordingly, the Fixed Account assets are not included in the Variable Account financial statements.

**(2) SIGNIFICANT ACCOUNTING POLICIES**

The Variable Account applies the accounting and reporting guidance for investment companies as outlined in Accounting Standards Codification (ASC) 946.

**Segment Reporting**

The subaccounts' operations constitute a single segment and therefore the single reportable segment of the Variable Account. The chief operating decision maker ("CODM"), Vice President — Solutions Pricing & Development, manages the business activities of the subaccounts and utilizes the net assets metric to allocate resources and assess performance of the subaccounts. The accounting policies used to measure the net assets of the subaccounts are the same as those described in Note 2.

**Valuation of Investments**

The investments in shares of the Funds are stated at fair value, which is the closing net asset value per share as determined by the Fund. The cost of shares sold and redeemed is determined on the average cost method. Dividend distributions received from the Fund are reinvested in additional shares of the Fund and recorded as income by the subaccount on the ex-dividend date. Series Fund shares owned represent the number of shares of the Fund owned by the subaccount.

**Federal Income Taxes**

Thrivent Financial qualifies as a tax-exempt organization under the Internal Revenue Code. Accordingly, no provision for income taxes has been charged against the Variable Account. Thrivent Financial reserves the right to charge for taxes in the future should Thrivent Financial's tax status change.

**(2) SIGNIFICANT ACCOUNTING POLICIES**

**Estimates**

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

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**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(2) SIGNIFICANT ACCOUNTING POLICIES - continued**<br>

**Fair Value of Financial Instruments**

In estimating the fair values for financial instruments carried at fair value, the significance of observable and unobservable inputs used to determine fair value are taken into consideration. Each of the financial instruments must be classified into one of three categories based on that evaluation:

Level 1:

Fair value based on quoted prices for identical assets in active markets that are accessible.

Level 2:

Fair value based on quoted prices for similar instruments in active markets that are accessible; quoted prices for identical or similar instruments in markets that are not active; or model-derived valuations where the significant value driver inputs are observable.

Level 3:

Fair value based on significant value driver inputs that are not observable.

The Funds in the Accounts have been measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and are therefore not categorized in the fair value hierarchy.

**Subsequent Events**

Management has evaluated Variable Account related events and transactions that occurred during the period from the date of the Statement of Assets and Liabilities through the date of issuance of the Variable Account's financial statements. There were no events or transactions that occurred during the period that materially impacted the amounts or disclosures in the Variable Account's financial statements.

**(3) EXPENSE CHARGES AND OTHER TRANSACTIONS WITH AFFILIATES**

Amounts are paid to Thrivent Financial for mortality and expense risks assumed in connection with the contracts as a percentage of the subaccounts. No mortality and expense risk charges are deducted from the Fixed Account. The mortality and expense risk charges for each of the variable subaccounts are reported in the statements of changes in net assets. The rates are as follows for the four contract types within the Variable Account:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Thrivent Variable Life 2019 Series – annual rate is based on the subaccount accumulated value and is guaranteed not to exceed 1.00% for all contract years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Thrivent Variable Life 2008 Series – annual rate is based on the subaccount accumulated value and is guaranteed not to exceed 0.45% for all contract years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Thrivent Variable Life 2003 Series – annual rate is based on subaccount accumulated value and is guaranteed not to exceed 1.10% during the first 10 contract years and guaranteed not to exceed 0.90% thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Thrivent Variable Life 1997 Series – annual rate is based on the subaccount cash value and is guaranteed not to exceed 0.90% during the first 15 years and guaranteed not to exceed 0.40% thereafter.

Thrivent Financial deducts a monthly unit charge for the Thrivent Variable Life 2008 Series only. This charge covers the expenses associated with underwriting, issuing, or increasing the face amount. The charge applies for the first 120 months after issue and the first 120 months after an increase in face amount.

Thrivent Financial deducts an issue expense charge for the Thrivent Variable Life 1997 Series only. This charge covers the expenses associated with underwriting, issuing, or increasing the face amount. The charge applies for the first 36 months after issue and the first 36 months after an increase in face amount.

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**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(3) EXPENSE CHARGES AND OTHER TRANSACTIONS WITH AFFILIATES - continued**<br>

Thrivent Financial deducts an asset charge for Thrivent Variable Life 2008 Series only. This charge covers the expenses incurred in issuing and administering the contract and operating the Variable Account.

Prior to the allocation of premiums to the Variable Account, Thrivent Financial deducts a sales charge, based on the product, to cover a portion of the sales expenses incurred by Thrivent Financial.

Thrivent Financial charges a monthly administrative fee for administrative expenses.

Thrivent Financial assumes responsibility for providing the insurance benefit included in the contract. On a monthly basis, a cost of insurance charge is deducted proportionately from the value of each variable subaccount and/or Fixed Account funding option. The Fixed Account is part of the general account of Thrivent Financial and is not included in these financial statements. The cost of insurance charge depends on the attained age, risk classification, sex (in most states) and the current net amount at risk. The charges are calculated as follows for the four contract types wtihin the Variable Account:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Thrivent Variable Life 2019, 2008 and 2003 Series – For subaccounts, sufficient Accumulation Units are redeemed from each subaccount in the proportion that the Accumunlation value in each Subaccount bears to the Accumulation Value of the entire Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Thrivent Variable Life 1997 Series – For subaccounts, sufficient Accumulation Units are redeemed from each subaccount in the proportion that the cash value in each Subaccount bears to the Cash Value of the entire Contract.

Thrivent Financial assesses a transfer fee to each transfer from the subaccounts and Fixed Account in excess of the first twelve transfers made in a contract year.

Thrivent Financial, upon lapse, surrender or face amount reduction, will charge a decrease or surrender charge during the first 10 contract years and during the first 10 years following an increase in face amount. These charges are in part a deferred sales charge and in part a recovery of certain administrative costs. In no event will the surrender charge exceed the maximum allowed by state or federal law.

Thrivent Financial may charge an administrative fee for each partial surrender/withdrawal that is taken in excess of one per contract year. For Thrivent Variable Life 2003 Series only, the charge is applicable in the first 10 contract years only.

Thrivent Financial reserves the right to charge a fee for certain contract changes for Thrivent Variable Life 1997 Series only.

Additionally, during the year ended December 31, 2025, management fees were paid indirectly to Thrivent Financial in its capacity as advisor to the Thrivent Series Fund.

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**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)<br>

**(4) UNIT ACTIVITY**

Transactions in units (including transfers among subaccounts) were as follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units**<br> **Outstanding** <br> **at**<br> **January 1,**<br> **2024**<br>| **Units**<br> **Issued**<br>| **Units**<br> **Issued**<br> **as a**<br> **result of**<br> **merger**<br>| **Units**<br> **Redeemed**<br>| **Units**<br> **Outstanding** <br> **at**<br> **December 31,**<br> **2024**<br>| **Units**<br> **Issued**<br>| **Units**<br> **Redeemed**<br>| **Units**<br> **Outstanding** <br> **at**<br> **December 31,**<br> **2025**<br>|
| Aggressive Allocation | &nbsp;&nbsp; 10900146 | &nbsp;&nbsp; 3746695 |  | &nbsp;&nbsp; (2581202)<br>| &nbsp;&nbsp; 12065639 | &nbsp;&nbsp; 3215675 | &nbsp;&nbsp; (1984550)<br>| &nbsp;&nbsp; 13296764 |
| All Cap | &nbsp;&nbsp; 362769 | &nbsp;&nbsp; 149143 |  | &nbsp;&nbsp; (92640)<br>| &nbsp;&nbsp; 419272 | &nbsp;&nbsp; 213395 | &nbsp;&nbsp; (109106)<br>| &nbsp;&nbsp; 523561 |
| Conservative Allocation | &nbsp;&nbsp; 667103 | &nbsp;&nbsp; 202789 |  | &nbsp;&nbsp; (156355)<br>| &nbsp;&nbsp; 713537 | &nbsp;&nbsp; 271524 | &nbsp;&nbsp; (140576)<br>| &nbsp;&nbsp; 844485 |
| Dynamic Allocation | &nbsp;&nbsp; 511559 | &nbsp;&nbsp; 89548 |  | &nbsp;&nbsp; (84831)<br>| &nbsp;&nbsp; 516276 | &nbsp;&nbsp; 71069 | &nbsp;&nbsp; (57011)<br>| &nbsp;&nbsp; 530334 |
| Emerging Markets Equity | &nbsp;&nbsp; 430488 | &nbsp;&nbsp; 134688 |  | &nbsp;&nbsp; (103926)<br>| &nbsp;&nbsp; 461250 | &nbsp;&nbsp; 128561 | &nbsp;&nbsp; (100431)<br>| &nbsp;&nbsp; 489380 |
| ESG Index | &nbsp;&nbsp; 174241 | &nbsp;&nbsp; 91476 |  | &nbsp;&nbsp; (58818)<br>| &nbsp;&nbsp; 206899 | &nbsp;&nbsp; 69205 | &nbsp;&nbsp; (66585)<br>| &nbsp;&nbsp; 209519 |
| Global Stock | &nbsp;&nbsp; 1081586 | &nbsp;&nbsp; 190071 | &nbsp;&nbsp; 47571 | &nbsp;&nbsp; (185537)<br>| &nbsp;&nbsp; 1133691 | &nbsp;&nbsp; 202105 | &nbsp;&nbsp; (163214)<br>| &nbsp;&nbsp; 1172582 |
| Government Bond | &nbsp;&nbsp; 561700 | &nbsp;&nbsp; 179164 |  | &nbsp;&nbsp; (100408)<br>| &nbsp;&nbsp; 640456 | &nbsp;&nbsp; 162801 | &nbsp;&nbsp; (108338)<br>| &nbsp;&nbsp; 694919 |
| Healthcare | &nbsp;&nbsp; 405746 | &nbsp;&nbsp; 144020 |  | &nbsp;&nbsp; (89932)<br>| &nbsp;&nbsp; 459834 | &nbsp;&nbsp; 156646 | &nbsp;&nbsp; (92340)<br>| &nbsp;&nbsp; 524140 |
| High Yield | &nbsp;&nbsp; 411601 | &nbsp;&nbsp; 197035 |  | &nbsp;&nbsp; (113248)<br>| &nbsp;&nbsp; 495388 | &nbsp;&nbsp; 237544 | &nbsp;&nbsp; (142360)<br>| &nbsp;&nbsp; 590572 |
| Income | &nbsp;&nbsp; 634827 | &nbsp;&nbsp; 317246 |  | &nbsp;&nbsp; (180929)<br>| &nbsp;&nbsp; 771144 | &nbsp;&nbsp; 267306 | &nbsp;&nbsp; (130870)<br>| &nbsp;&nbsp; 907580 |
| International Equity | &nbsp;&nbsp; 2195686 | &nbsp;&nbsp; 239707 |  | &nbsp;&nbsp; (258735)<br>| &nbsp;&nbsp; 2176658 | &nbsp;&nbsp; 311110 | &nbsp;&nbsp; (287721)<br>| &nbsp;&nbsp; 2200047 |
| International Index | &nbsp;&nbsp; 380429 | &nbsp;&nbsp; 308246 |  | &nbsp;&nbsp; (145271)<br>| &nbsp;&nbsp; 543404 | &nbsp;&nbsp; 337790 | &nbsp;&nbsp; (151199)<br>| &nbsp;&nbsp; 729995 |
| Large Cap Growth | &nbsp;&nbsp; 2403118 | &nbsp;&nbsp; 1174901 |  | &nbsp;&nbsp; (690189)<br>| &nbsp;&nbsp; 2887830 | &nbsp;&nbsp; 1303782 | &nbsp;&nbsp; (705997)<br>| &nbsp;&nbsp; 3485615 |
| Large Cap Index | &nbsp;&nbsp; 5942726 | &nbsp;&nbsp; 2388630 |  | &nbsp;&nbsp; (1468681)<br>| &nbsp;&nbsp; 6862675 | &nbsp;&nbsp; 2426676 | &nbsp;&nbsp; (1288819)<br>| &nbsp;&nbsp; 8000532 |
| Large Cap Value | &nbsp;&nbsp; 857216 | &nbsp;&nbsp; 340404 |  | &nbsp;&nbsp; (230314)<br>| &nbsp;&nbsp; 967306 | &nbsp;&nbsp; 433471 | &nbsp;&nbsp; (247634)<br>| &nbsp;&nbsp; 1153143 |
| Mid Cap Growth | &nbsp;&nbsp; 268047 | &nbsp;&nbsp; 167821 |  | &nbsp;&nbsp; (86304)<br>| &nbsp;&nbsp; 349564 | &nbsp;&nbsp; 167638 | &nbsp;&nbsp; (118857)<br>| &nbsp;&nbsp; 398345 |
| Mid Cap Index | &nbsp;&nbsp; 2402875 | &nbsp;&nbsp; 1102541 |  | &nbsp;&nbsp; (613619)<br>| &nbsp;&nbsp; 2891797 | &nbsp;&nbsp; 1236764 | &nbsp;&nbsp; (647554)<br>| &nbsp;&nbsp; 3481007 |
| Mid Cap Stock | &nbsp;&nbsp; 1665036 | &nbsp;&nbsp; 731858 |  | &nbsp;&nbsp; (396422)<br>| &nbsp;&nbsp; 2000472 | &nbsp;&nbsp; 649081 | &nbsp;&nbsp; (434998)<br>| &nbsp;&nbsp; 2214555 |
| Mid Cap Value | &nbsp;&nbsp; 117123 | &nbsp;&nbsp; 43519 |  | &nbsp;&nbsp; (38055)<br>| &nbsp;&nbsp; 122587 | &nbsp;&nbsp; 45754 | &nbsp;&nbsp; (40323)<br>| &nbsp;&nbsp; 128018 |
| Moderate Allocation | &nbsp;&nbsp; 5920035 | &nbsp;&nbsp; 1332918 |  | &nbsp;&nbsp; (1082718)<br>| &nbsp;&nbsp; 6170235 | &nbsp;&nbsp; 974258 | &nbsp;&nbsp; (687367)<br>| &nbsp;&nbsp; 6457126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive <br> Allocation<br>| &nbsp;&nbsp; 16856485 | &nbsp;&nbsp; 3939696 |  | &nbsp;&nbsp; (2686687)<br>| &nbsp;&nbsp; 18109494 | &nbsp;&nbsp; 3653136 | &nbsp;&nbsp; (2655505)<br>| &nbsp;&nbsp; 19107125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative <br> Allocation<br>| &nbsp;&nbsp; 633634 | &nbsp;&nbsp; 204493 |  | &nbsp;&nbsp; (168608)<br>| &nbsp;&nbsp; 669519 | &nbsp;&nbsp; 100012 | &nbsp;&nbsp; (105236)<br>| &nbsp;&nbsp; 664295 |
| Money Market | &nbsp;&nbsp; 6688469 | &nbsp;&nbsp; 8041965 |  | &nbsp;&nbsp; (5670166)<br>| &nbsp;&nbsp; 9060268 | &nbsp;&nbsp; 9253977 | &nbsp;&nbsp; (8854887)<br>| &nbsp;&nbsp; 9459358 |
| Multisector Bond | &nbsp;&nbsp; 254093 | &nbsp;&nbsp; 127346 | &nbsp;&nbsp; 68051 | &nbsp;&nbsp; (114018)<br>| &nbsp;&nbsp; 335472 | &nbsp;&nbsp; 113527 | &nbsp;&nbsp; (66830)<br>| &nbsp;&nbsp; 382169 |
| Real Estate Securities | &nbsp;&nbsp; 359183 | &nbsp;&nbsp; 126325 |  | &nbsp;&nbsp; (85826)<br>| &nbsp;&nbsp; 399682 | &nbsp;&nbsp; 121944 | &nbsp;&nbsp; (64488)<br>| &nbsp;&nbsp; 457138 |
| Short-Term Bond | &nbsp;&nbsp; 457167 | &nbsp;&nbsp; 152329 |  | &nbsp;&nbsp; (96193)<br>| &nbsp;&nbsp; 513303 | &nbsp;&nbsp; 100280 | &nbsp;&nbsp; (94132)<br>| &nbsp;&nbsp; 519451 |
| Small Cap Growth | &nbsp;&nbsp; 371004 | &nbsp;&nbsp; 221882 |  | &nbsp;&nbsp; (149866)<br>| &nbsp;&nbsp; 443020 | &nbsp;&nbsp; 218534 | &nbsp;&nbsp; (165061)<br>| &nbsp;&nbsp; 496493 |
| Small Cap Index | &nbsp;&nbsp; 2574069 | &nbsp;&nbsp; 1141300 |  | &nbsp;&nbsp; (601145)<br>| &nbsp;&nbsp; 3114224 | &nbsp;&nbsp; 1276922 | &nbsp;&nbsp; (669608)<br>| &nbsp;&nbsp; 3721538 |
| Small Cap Stock | &nbsp;&nbsp; 1042057 | &nbsp;&nbsp; 428393 |  | &nbsp;&nbsp; (233456)<br>| &nbsp;&nbsp; 1236994 | &nbsp;&nbsp; 451355 | &nbsp;&nbsp; (334128)<br>| &nbsp;&nbsp; 1354221 |

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**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)<br>

**(5) PURCHASES AND SALES OF INVESTMENTS**

The aggregate costs of purchases and proceeds from sales of investments in the Funds for the year ended December 31, 2025 were as follows:

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| | | |
|:---|:---|:---|
| **Subaccount** | **Purchases** | **Sales** |
| Aggressive Allocation | &nbsp;&nbsp; $73537355  | &nbsp;&nbsp; $17964651  |
| All Cap | &nbsp;&nbsp; 3556560 | &nbsp;&nbsp; 1250669 |
| Conservative Allocation | &nbsp;&nbsp; 4225805 | &nbsp;&nbsp; 1326556 |
| Dynamic Allocation | &nbsp;&nbsp; 1962886 | &nbsp;&nbsp; 1212745 |
| Emerging Markets Equity | &nbsp;&nbsp; 1642788 | &nbsp;&nbsp; 962046 |
| ESG Index | &nbsp;&nbsp; 834700 | &nbsp;&nbsp; 735519 |
| Global Stock | &nbsp;&nbsp; 7850752 | &nbsp;&nbsp; 2368454 |
| Government Bond | &nbsp;&nbsp; 2011956 | &nbsp;&nbsp; 913251 |
| Healthcare | &nbsp;&nbsp; 2116865 | &nbsp;&nbsp; 982626 |
| High Yield | &nbsp;&nbsp; 2763720 | &nbsp;&nbsp; 947797 |
| Income | &nbsp;&nbsp; 3120295 | &nbsp;&nbsp; 859470 |
| International Equity | &nbsp;&nbsp; 4047890 | &nbsp;&nbsp; 3104558 |
| International Index | &nbsp;&nbsp; 4128857 | &nbsp;&nbsp; 657347 |
| Large Cap Growth | &nbsp;&nbsp; 35982904 | &nbsp;&nbsp; 8958112 |
| Large Cap Index | &nbsp;&nbsp; 46555117 | &nbsp;&nbsp; 13505034 |
| Large Cap Value | &nbsp;&nbsp; 10644384 | &nbsp;&nbsp; 2396342 |
| Mid Cap Growth | &nbsp;&nbsp; 1529259 | &nbsp;&nbsp; 756142 |
| Mid Cap Index | &nbsp;&nbsp; 18534607 | &nbsp;&nbsp; 3563238 |
| Mid Cap Stock | &nbsp;&nbsp; 16024009 | &nbsp;&nbsp; 6349272 |
| Mid Cap Value | &nbsp;&nbsp; 737512 | &nbsp;&nbsp; 403936 |
| Moderate Allocation | &nbsp;&nbsp; 29444263 | &nbsp;&nbsp; 8819093 |
| Moderately Aggressive Allocation | &nbsp;&nbsp; 80251644 | &nbsp;&nbsp; 28775456 |
| Moderately Conservative Allocation | &nbsp;&nbsp; 3013481 | &nbsp;&nbsp; 1779156 |
| Money Market | &nbsp;&nbsp; 5770670 | &nbsp;&nbsp; 4842495 |
| Multisector Bond | &nbsp;&nbsp; 1245163 | &nbsp;&nbsp; 421071 |
| Real Estate Securities | &nbsp;&nbsp; 2459208 | &nbsp;&nbsp; 687496 |
| Short-Term Bond | &nbsp;&nbsp; 1198178 | &nbsp;&nbsp; 912587 |
| Small Cap Growth | &nbsp;&nbsp; 2039744 | &nbsp;&nbsp; 1200008 |
| Small Cap Index | &nbsp;&nbsp; 18630400 | &nbsp;&nbsp; 4197497 |
| Small Cap Stock | &nbsp;&nbsp; 8840926 | &nbsp;&nbsp; 7200346 |

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**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)<br>

**(6) FINANCIAL HIGHLIGHTS**

A summary of units outstanding, unit values, net assets, expense ratios, investment income ratios and total return ratios for each of the five years in the period ended December 31, 2025 follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **2025** | **2024** | **2023** | **2022** | **2021** |
| **Aggressive Allocation** |  |  |  |  |  |
| Units | 13296764 | 12065639 | 10900146 | 9590436 | 8125078 |
| Unit value | $19.00-$57.68  | $16.40-$49.80  | $14.13-$42.91  | $11.84-$35.96  | $14.43-$43.82  |
| Net assets | $463860329  | $384605185  | $315842414  | $248009402  | $274953632  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.61<br> %<br>| 1.49<br> %<br>| 1.83<br> %<br>| 0.83<br> %<br>| 0.79<br> %<br>|
| Total return (c) | 15.81<br> %<br>| 16.08<br> %<br>| 19.31<br> %<br>| (17.92)<br> %<br>| 20.20<br> %<br>|
| **All Cap** |  |  |  |  |  |
| Units | 523561 | 419272 | 362769 | 275304 | 208585 |
| Unit value | $22.23-$104.63  | $18.83-$88.63  | $15.70-$73.92  | $12.86-$60.53  | $15.72-$74.00  |
| Net assets | $18934170  | $14375893  | $11538976  | $8369410  | $9224205  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 0.58<br> %<br>| 0.67<br> %<br>| 0.94<br> %<br>| 0.56<br> %<br>| 0.41<br> %<br>|
| Total return (c) | 18.05<br> %<br>| 19.90<br> %<br>| 22.13<br> %<br>| (18.21)<br> %<br>| 24.11<br> %<br>|
| **Conservative Allocation (1)** |  |  |  |  |  |
| Units | 844485 | 713537 | 667103 | 566950 | 468165 |
| Unit value | $13.25-$39.57  | $12.03-$35.92  | $11.22-$33.51  | $10.18-$30.41  | $11.62-$34.71  |
| Net assets | $18793966  | $15027512  | $13949704  | $11658671  | $12052329  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 4.52<br> %<br>| 4.67<br> %<br>| 3.88<br> %<br>| 2.89<br> %<br>| 2.97<br> %<br>|
| Total return (c) | 10.17<br> %<br>| 7.17<br> %<br>| 10.20<br> %<br>| (12.38)<br> %<br>| 6.87<br> %<br>|
| **Dynamic Allocationm (1)** |  |  |  |  |  |
| Units | 530334 | 516276 | 511559 | 492373 | 480763 |
| Unit value | $14.80-$47.26  | $13.14-$41.97  | $12.10-$38.66  | $10.76-$34.37  | $12.48-$39.86  |
| Net assets | $18536597  | $16671651  | $15750536  | $13983627  | $16418270  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 3.31<br> %<br>| 3.38<br> %<br>| 2.74<br> %<br>| 2.08<br> %<br>| 2.31<br> %<br>|
| Total return (c) | 12.62<br> %<br>| 8.56<br> %<br>| 12.46<br> %<br>| (13.77)<br> %<br>| 12.44<br> %<br>|
| **Emerging Markets Equity** <br> **(3)**<br>|  |  |  |  |  |
| Units | 489380 | 461250 | 430488 | 371873 | 324002 |
| Unit value | $14.94-$22.67  | $11.30-$17.15  | $10.37-$15.74  | $9.51-$14.42  | $12.83-$19.47  |
| Net assets | $9648713  | $6938931  | $6171342  | $5048556  | $6140894  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.69<br> %<br>| 2.67<br> %<br>| 2.99<br> %<br>| 0.83<br> %<br>| 0.16<br> %<br>|
| Total return (c) | 32.20<br> %<br>| 8.96<br> %<br>| 9.13<br> %<br>| (25.91)<br> %<br>| (4.73)<br> %<br>|

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(6) FINANCIAL HIGHLIGHTS - continued**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **2025** | **2024** | **2023** | **2022** | **2021** |
| **ESG Index** |  |  |  |  |  |
| Units | 209519 | 206899 | 174241 | 134563 | 84655 |
| Unit value | $24.45 | $20.76-$20.76  | $16.97 | $13.24 | $16.93 |
| Net assets | $5122632  | $4294961  | $2956919  | $1781354  | $1433569  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 0.91<br> %<br>| 0.95<br> %<br>| 1.02<br> %<br>| 0.55<br> %<br>| 0.00<br> %<br>|
| Total return (c) | 17.78<br> %<br>| 22.32<br> %<br>| 28.19<br> %<br>| (21.83)<br> %<br>| 30.78<br> %<br>|
| **Global Stock (2)** |  |  |  |  |  |
| Units | 1172582 | 1133691 | 1081586 | 1086410 | 1050095 |
| Unit value | $19.64-$51.56  | $16.26-$42.68  | $14.11-$37.03  | $11.56-$30.35  | $14.27-$37.45  |
| Net assets | $47920779  | $38821231  | $33342347  | $28088917  | $34387260  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.76<br> %<br>| 1.99<br> %<br>| 1.25<br> %<br>| 1.11<br> %<br>| 0.90<br> %<br>|
| Total return (c) | 20.82<br> %<br>| 15.25<br> %<br>| 22.03<br> %<br>| (18.97)<br> %<br>| 20.71<br> %<br>|
| **Government Bond** |  |  |  |  |  |
| Units | 694919 | 640456 | 561700 | 533164 | 504163 |
| Unit value | $10.70-$27.91  | $9.97-$26.01  | $9.86-$25.71  | $9.44-$24.63  | $10.54-$27.48  |
| Net assets | $11800195  | $10352380  | $9411977  | $8795708  | $9524020  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 3.91<br> %<br>| 4.03<br> %<br>| 3.26<br> %<br>| 2.18<br> %<br>| 1.33<br> %<br>|
| Total return (c) | 7.32<br> %<br>| 1.19<br> %<br>| 4.37<br> %<br>| (10.37)<br> %<br>| (1.52)<br> %<br>|
| **Healthcare (3)** |  |  |  |  |  |
| Units | 524140 | 459834 | 405746 | 336173 | 271018 |
| Unit value | $15.25-$49.62  | $13.49-$43.88  | $13.50-$43.91  | $12.96-$42.16  | $13.72-$44.63  |
| Net assets | $15342691  | $12579491  | $12332402  | $11062294  | $10735891  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 0.73<br> %<br>| 0.77<br> %<br>| 0.55<br> %<br>| 0.25<br> %<br>| 0.29<br> %<br>|
| Total return (c) | 13.07<br> %<br>| (0.06)<br> %<br>| 4.15<br> %<br>| (5.54)<br> %<br>| 12.77<br> %<br>|
| **High Yield** |  |  |  |  |  |
| Units | 590572 | 495388 | 411601 | 344511 | 295708 |
| Unit value | $12.75-$49.50  | $11.72-$45.50  | $10.95-$42.52  | $9.79-$38.02  | $10.91-$42.35  |
| Net assets | $12753802  | $10691699  | $9057405  | $7481409  | $7922881  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 6.40<br> %<br>| 6.41<br> %<br>| 6.03<br> %<br>| 5.43<br> %<br>| 4.59<br> %<br>|
| Total return (c) | 8.78<br> %<br>| 7.02<br> %<br>| 11.83<br> %<br>| (10.22)<br> %<br>| 4.40<br> %<br>|
| **Income** |  |  |  |  |  |
| Units | 907580 | 771144 | 634827 | 507240 | 446304 |
| Unit value | $11.42-$27.97  | $10.58-$25.92  | $10.26-$25.12  | $9.38-$22.98  | $11.15-$27.32  |
| Net assets | $15499860  | $12804791  | $10903590  | $8373071  | $9344833  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 4.59<br> %<br>| 4.42<br> %<br>| 4.15<br> %<br>| 3.49<br> %<br>| 2.78<br> %<br>|
| Total return (c) | 7.93<br> %<br>| 3.18<br> %<br>| 9.29<br> %<br>| (15.86)<br> %<br>| (0.47)<br> %<br>|

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(6) FINANCIAL HIGHLIGHTS - continued**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **2025** | **2024** | **2023** | **2022** | **2021** |
| **International Equity (1)** |  |  |  |  |  |
| Units | 2200047 | 2176658 | 2195686 | 2155251 | 2099063 |
| Unit value | $16.01-$21.18  | $12.24-$16.18  | $11.73-$15.52  | $9.94-$13.14  | $12.17-$16.09  |
| Net assets | $45206896  | $34492435  | $33562850  | $28057640  | $33609889  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 2.25<br> %<br>| 3.08<br> %<br>| 2.63<br> %<br>| 2.73<br> %<br>| 1.56<br> %<br>|
| Total return (c) | 30.87<br> %<br>| 4.28<br> %<br>| 18.11<br> %<br>| (18.35)<br> %<br>| 14.46<br> %<br>|
| **International Index** |  |  |  |  |  |
| Units | 729995 | 543404 | 380429 | 217794 | 77439 |
| Unit value | $19.52 | $14.88-$14.88  | $14.40 | $12.23 | $14.31 |
| Net assets | $14247840  | $8086687  | $5478985  | $2663603  | $1108507  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 2.25<br> %<br>| 2.65<br> %<br>| 2.08<br> %<br>| 2.52<br> %<br>| 0.17<br> %<br>|
| Total return (c) | 31.15<br> %<br>| 3.33<br> %<br>| 17.76<br> %<br>| (14.56)<br> %<br>| 10.86<br> %<br>|
| **Large Cap Growth** |  |  |  |  |  |
| Units | 3485615 | 2887830 | 2403118 | 1943005 | 1558518 |
| Unit value | $27.08-$141.89  | $23.16-$121.33  | $17.73-$92.89  | $12.05-$63.16  | $18.16-$95.17  |
| Net assets | $188431893  | $148331088  | $106339280  | $65908771  | $91906893  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 0.40<br> %<br>| 0.42<br> %<br>| 0.21<br> %<br>| 0.00<br> %<br>| 0.13<br> %<br>|
| Total return (c) | 16.95<br> %<br>| 30.61<br> %<br>| 47.07<br> %<br>| (33.63)<br> %<br>| 22.97<br> %<br>|
| **Large Cap Index** |  |  |  |  |  |
| Units | 8000532 | 6862675 | 5942726 | 4774086 | 3701271 |
| Unit value | $23.55-$94.68  | $20.02-$80.50  | $16.05-$64.53  | $12.74-$51.22  | $15.59-$62.69  |
| Net assets | $360841331  | $287060421  | $219638888  | $157721733  | $172553845  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.03<br> %<br>| 1.18<br> %<br>| 1.33<br> %<br>| 1.22<br> %<br>| 1.38<br> %<br>|
| Total return (c) | 17.62<br> %<br>| 24.73<br> %<br>| 26.01<br> %<br>| (18.30)<br> %<br>| 28.41<br> %<br>|
| **Large Cap Value** |  |  |  |  |  |
| Units | 1153143 | 967306 | 857216 | 765485 | 540592 |
| Unit value | $20.58-$85.32  | $17.20-$71.31  | $15.21-$63.06  | $13.48-$55.87  | $14.14-$58.61  |
| Net assets | $42386589  | $32308954  | $27640704  | $24408706  | $21075047  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.57<br> %<br>| 1.58<br> %<br>| 1.77<br> %<br>| 1.29<br> %<br>| 1.21<br> %<br>|
| Total return (c) | 19.65<br> %<br>| 13.09<br> %<br>| 12.87<br> %<br>| (4.68)<br> %<br>| 32.05<br> %<br>|
| **Mid Cap Growth** |  |  |  |  |  |
| Units | 398345 | 349564 | 268047 | 185771 | 105557 |
| Unit value | $15.76 | $15.38-$15.38  | $13.97 | $11.92 | $16.68 |
| Net assets | $6279304  | $5375838  | $3743491  | $2215154  | $1760944  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Total return (c) | 2.50<br> %<br>| 10.12<br> %<br>| 17.12<br> %<br>| (28.52)<br> %<br>| 11.80<br> %<br>|

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(6) FINANCIAL HIGHLIGHTS - continued**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **2025** | **2024** | **2023** | **2022** | **2021** |
| **Mid Cap Index** |  |  |  |  |  |
| Units | 3481007 | 2891797 | 2402875 | 1881554 | 1395069 |
| Unit value | $17.71-$87.05  | $16.52-$81.18  | $14.53-$71.43  | $12.51-$61.48  | $14.42-$70.87  |
| Net assets | $104756933  | $87966882  | $69929348  | $53616361  | $53718127  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.20<br> %<br>| 1.27<br> %<br>| 1.33<br> %<br>| 1.09<br> %<br>| 0.95<br> %<br>|
| Total return (c) | 7.23<br> %<br>| 13.64<br> %<br>| 16.19<br> %<br>| (13.25)<br> %<br>| 24.47<br> %<br>|
| **Mid Cap Stock** |  |  |  |  |  |
| Units | 2214555 | 2000472 | 1665036 | 1323790 | 1028633 |
| Unit value | $17.33-$81.00  | $16.55-$77.34  | $15.01-$70.14  | $13.14-$61.42  | $16.02-$74.86  |
| Net assets | $80264753  | $75637043  | $63664018  | $51366843  | $57692603  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 0.79<br> %<br>| 0.53<br> %<br>| 0.42<br> %<br>| 0.31<br> %<br>| 0.23<br> %<br>|
| Total return (c) | 4.73<br> %<br>| 10.28<br> %<br>| 14.19<br> %<br>| (17.96)<br> %<br>| 28.81<br> %<br>|
| **Mid Cap Value** |  |  |  |  |  |
| Units | 128018 | 122587 | 117123 | 109773 | 67431 |
| Unit value | $22.72 | $20.50-$20.50  | $18.68 | $16.49 | $17.40 |
| Net assets | $2908349  | $2512968  | $2188301  | $1810031  | $1173182  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.12<br> %<br>| 1.25<br> %<br>| 0.90<br> %<br>| 0.00<br> %<br>| 0.62<br> %<br>|
| Total return (c) | 10.82<br> %<br>| 9.72<br> %<br>| 13.31<br> %<br>| (5.23)<br> %<br>| 30.88<br> %<br>|
| **Moderate Allocation** |  |  |  |  |  |
| Units | 6457126 | 6170235 | 5920035 | 5584139 | 5179262 |
| Unit value | $16.28-$40.91  | $14.32-$36.00  | $12.66-$31.82  | $10.90-$27.39  | $13.00-$32.68  |
| Net assets | $188426007  | $163778625  | $144425735  | $123013719  | $143725741  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 2.57<br> %<br>| 2.36<br> %<br>| 2.58<br> %<br>| 1.62<br> %<br>| 1.50<br> %<br>|
| Total return (c) | 13.63<br> %<br>| 13.14<br> %<br>| 16.18<br> %<br>| (16.19)<br> %<br>| 12.69<br> %<br>|
| **Moderately Aggressive** <br> **Allocation**<br>|  |  |  |  |  |
| Units | 19107125 | 18109494 | 16856485 | 15383634 | 14013656 |
| Unit value | $17.36-$48.14  | $15.04-$41.69  | $13.17-$36.51  | $11.20-$31.05  | $13.56-$37.59  |
| Net assets | $616054124  | $527605342  | $449927318  | $369458531  | $430811263  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.92<br> %<br>| 1.86<br> %<br>| 2.53<br> %<br>| 1.29<br> %<br>| 1.20<br> %<br>|
| Total return (c) | 15.46<br> %<br>| 14.19<br> %<br>| 17.60<br> %<br>| (17.41)<br> %<br>| 16.35<br> %<br>|

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(6) FINANCIAL HIGHLIGHTS - continued**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **2025** | **2024** | **2023** | **2022** | **2021** |
| **Moderately Conservative** <br> **Allocation**<br>|  |  |  |  |  |
| Units | 664295 | 669519 | 633634 | 663523 | 706522 |
| Unit value | $13.89-$30.37  | $12.39-$27.09  | $11.43-$24.98  | $10.20-$22.29  | $11.96-$26.14  |
| Net assets | $17576753  | $15851548  | $13705091  | $12995682  | $16559489  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 3.67<br> %<br>| 3.25<br> %<br>| 2.86<br> %<br>| 2.10<br> %<br>| 1.77<br> %<br>|
| Total return (c) | 12.10<br> %<br>| 8.44<br> %<br>| 12.09<br> %<br>| (14.73)<br> %<br>| 7.20<br> %<br>|
| **Money Market** |  |  |  |  |  |
| Units | 9459358 | 9060268 | 6688469 | 6182402 | 4282319 |
| Unit value | $1.17-$1.44  | $1.12-$1.38  | $1.07-$1.32  | $1.02-$1.26  | $1.00-$1.24  |
| Net assets | $12093203  | $11165027  | $7978334  | $7020477  | $4873990  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 3.98<br> %<br>| 4.92<br> %<br>| 4.79<br> %<br>| 1.51<br> %<br>| 0.00<br> %<br>|
| Total return (c) | 4.06<br> %<br>| 5.07<br> %<br>| 4.88<br> %<br>| 1.36<br> %<br>| 0.00<br> %<br>|
| **Multisector Bond (12)** |  |  |  |  |  |
| Units | 382169 | 335472 | 254093 | 215012 | 206690 |
| Unit value | $11.87-$22.77  | $10.99-$21.09  | $10.45-$20.04  | $9.59-$18.40  | $10.71-$20.56  |
| Net assets | $6083303  | $5107065  | $3899101  | $3229705  | $3717026  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 4.83<br> %<br>| 4.91<br> %<br>| 4.91<br> %<br>| 4.03<br> %<br>| 3.00<br> %<br>|
| Total return (c) | 7.93<br> %<br>| 5.25<br> %<br>| 8.93<br> %<br>| (10.49)<br> %<br>| 1.80<br> %<br>|
| **Real Estate Securities** |  |  |  |  |  |
| Units | 457138 | 399682 | 359183 | 307596 | 267835 |
| Unit value | $11.44-$63.77  | $11.37-$63.34  | $11.01-$61.37  | $10.00-$55.72  | $13.44-$74.90  |
| Net assets | $11501744  | $10715385  | $10123510  | $8680589  | $11450373  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 2.41<br> %<br>| 2.57<br> %<br>| 2.14<br> %<br>| 1.14<br> %<br>| 1.38<br> %<br>|
| Total return (c) | 0.67<br> %<br>| 3.21<br> %<br>| 10.14<br> %<br>| (25.60)<br> %<br>| 42.11<br> %<br>|
| **Short-Term Bond (1)** |  |  |  |  |  |
| Units | 519451 | 513303 | 457167 | 457403 | 425884 |
| Unit value | $11.93-$19.31  | $11.25-$18.20  | $10.65-$17.23  | $10.01-$16.20  | $10.45-$16.91  |
| Net assets | $8496312  | $8069555  | $6912270  | $6571341  | $6526777  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 4.20<br> %<br>| 3.88<br> %<br>| 3.21<br> %<br>| 2.08<br> %<br>| 1.55<br> %<br>|
| Total return (c) | 6.06<br> %<br>| 5.63<br> %<br>| 6.38<br> %<br>| (4.19)<br> %<br>| 0.27<br> %<br>|

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(6) FINANCIAL HIGHLIGHTS - continued**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **2025** | **2024** | **2023** | **2022** | **2021** |
| **Small Cap Growth** |  |  |  |  |  |
| Units | 496493 | 443020 | 371004 | 263604 | 178416 |
| Unit value | $16.93-$19.46  | $16.62-$19.11  | $14.99-$17.24  | $13.65-$15.69  | $17.70-$20.35  |
| Net assets | $8761521  | $7746703  | $5909506  | $3878281  | $3476513  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Total return (c) | 1.87<br> %<br>| 10.84<br> %<br>| 9.86<br> %<br>| (22.91)<br> %<br>| 11.94<br> %<br>|
| **Small Cap Index** |  |  |  |  |  |
| Units | 3721538 | 3114224 | 2574069 | 2021097 | 1588266 |
| Unit value | $15.95-$97.23  | $15.08-$91.90  | $13.91-$84.75  | $12.01-$73.19  | $14.35-$87.44  |
| Net assets | $121453079  | $106300787  | $90172720  | $71345813  | $79164131  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 1.30<br> %<br>| 1.32<br> %<br>| 1.16<br> %<br>| 1.17<br> %<br>| 0.82<br> %<br>|
| Total return (c) | 5.80<br> %<br>| 8.44<br> %<br>| 15.79<br> %<br>| (16.30)<br> %<br>| 26.51<br> %<br>|
| **Small Cap Stock** |  |  |  |  |  |
| Units | 1354221 | 1236994 | 1042057 | 863867 | 733595 |
| Unit value | $17.99-$79.79  | $17.56-$77.89  | $15.77-$69.93  | $14.00-$62.10  | $15.64-$69.35  |
| Net assets | $51724977  | $51953012  | $43622351  | $36370654  | $38709839  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to net <br> assets (a)<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Investment income ratio (b) | 0.59<br> %<br>| 0.63<br> %<br>| 0.61<br> %<br>| 0.33<br> %<br>| 0.78<br> %<br>|
| Total return (c) | 2.45<br> %<br>| 11.37<br> %<br>| 12.62<br> %<br>| (10.46)<br> %<br>| 24.77<br> %<br>|

---

(a) These amounts only include items that flow through operations. All other charges made directly to contract owner accounts through the redemption of units and expenses of the underlying fund have been excluded.

(b) These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying mutual fund net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against the contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income is affected by the timing of the declaration of dividends by the underlying fund in which the subaccount invests.

(c) These amounts represent the total return for periods indicated, including changes in the value of the underlying fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units.

(1) The following name changes were effective April 30, 2025:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Conservative Allocation was formerly known as Diversified Income Plus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Dynamic Allocation was formerly known as Balanced Income Plus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

International Equity was formerly known as International Allocation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Multisector Bond was formerly known as Opportunity Income Plus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Short-Term Bond was formerly known as Limited Maturity Bond.

(2) The following mergers were effective July 26, 2024:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Low Volatility Equity merged into Global Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Multidimensional Income merged into Opportunity Income Plus.

(3) The following name changes were effective April 30, 2023:

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(6) FINANCIAL HIGHLIGHTS - continued**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Emerging Markets Equity was formerly known as Partner Emerging Markets Equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Healthcare was formerly known as Partner Healthcare.

**(7) UNIT FAIR VALUE**

Units, unit values and asset balances for each subaccount are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Year Ended December 31, 2025** | **Units** | **Unit Value** | **Assets in Accumulation** <br> **Period**<br>|
| Thrivent Flexible Premium Variable Life Insurance – 2019 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggressive Allocation | &nbsp;&nbsp; 5979992 | &nbsp;&nbsp; $19.00 | $113600707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Cap | &nbsp;&nbsp; 371522 | &nbsp;&nbsp; $22.23 | $8257412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conservative Allocation | &nbsp;&nbsp; 427209 | &nbsp;&nbsp; $13.25 | $5660739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynamic Allocation | &nbsp;&nbsp; 130361 | &nbsp;&nbsp; $14.80 | $1928990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging Markets Equity | &nbsp;&nbsp; 187242 | &nbsp;&nbsp; $14.94 | $2797879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ESG Index | &nbsp;&nbsp; 162764 | &nbsp;&nbsp; $24.45 | $3979499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Stock | &nbsp;&nbsp; 232946 | &nbsp;&nbsp; $19.64 | $4575471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Bond | &nbsp;&nbsp; 186734 | &nbsp;&nbsp; $10.70 | $1998969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Healthcare | &nbsp;&nbsp; 310336 | &nbsp;&nbsp; $15.25 | $4733571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; High Yield | &nbsp;&nbsp; 341983 | &nbsp;&nbsp; $12.75 | $4359871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income | &nbsp;&nbsp; 502622 | &nbsp;&nbsp; $11.42 | $5739855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Equity | &nbsp;&nbsp; 267770 | &nbsp;&nbsp; $16.01 | $4288331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Index | &nbsp;&nbsp; 617252 | &nbsp;&nbsp; $19.52 | $12047349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Growth | &nbsp;&nbsp; 2274452 | &nbsp;&nbsp; $27.08 | $61591161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Index | &nbsp;&nbsp; 4861376 | &nbsp;&nbsp; $23.55 | $114483429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Value | &nbsp;&nbsp; 687003 | &nbsp;&nbsp; $20.58 | $14141307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth | &nbsp;&nbsp; 269155 | &nbsp;&nbsp; $15.76 | $4242817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Index | &nbsp;&nbsp; 2339805 | &nbsp;&nbsp; $17.71 | $41442774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Stock | &nbsp;&nbsp; 1387563 | &nbsp;&nbsp; $17.33 | $24051723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value | &nbsp;&nbsp;&nbsp;&nbsp; 94475 | &nbsp;&nbsp; $22.72 | $2146308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderate Allocation | &nbsp;&nbsp; 2312215 | &nbsp;&nbsp; $16.28 | $37633001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive Allocation | &nbsp;&nbsp; 7222453 | &nbsp;&nbsp; $17.36 | $125402904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative Allocation | &nbsp;&nbsp;&nbsp;&nbsp; 87839 | &nbsp;&nbsp; $13.89 | $1220363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market | &nbsp;&nbsp; 2655243 | &nbsp;&nbsp; $1.17 | $3098259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multisector Bond | &nbsp;&nbsp; 210513 | &nbsp;&nbsp; $11.87 | $2498047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Securities | &nbsp;&nbsp; 217810 | &nbsp;&nbsp; $11.44 | $2492238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond | &nbsp;&nbsp; 119515 | &nbsp;&nbsp; $11.93 | $1426127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth | &nbsp;&nbsp; 356045 | &nbsp;&nbsp; $16.93 | $6027932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Index | &nbsp;&nbsp; 2390555 | &nbsp;&nbsp; $15.95 | $38135548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Stock | &nbsp;&nbsp; 750498 | &nbsp;&nbsp; $17.99 | $13504703 |
|  |  |  | **$667507284**  |

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(7) UNIT FAIR VALUE - continued**<br>

---

| | | | |
|:---|:---|:---|:---|
| **Year Ended December 31, 2025** | **Units** | **Unit Value** | **Assets in Accumulation** <br> **Period**<br>|
| Thrivent Flexible Premium Variable Life Insurance – 2008 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggressive Allocation | &nbsp;&nbsp; 4746637 | &nbsp;&nbsp; $42.56 | $202021468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Cap | &nbsp;&nbsp;&nbsp;&nbsp; 75853 | &nbsp;&nbsp; $49.74 | $3773263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conservative Allocation | &nbsp;&nbsp; 220198 | &nbsp;&nbsp; $27.20 | $5989725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynamic Allocation | &nbsp;&nbsp;&nbsp;&nbsp; 88781 | &nbsp;&nbsp; $29.84 | $2649123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging Markets Equity | &nbsp;&nbsp; 210294 | &nbsp;&nbsp; $22.67 | $4768309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ESG Index | &nbsp;&nbsp;&nbsp;&nbsp; 35181 | &nbsp;&nbsp; $24.45 | $860155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Stock | &nbsp;&nbsp; 115052 | &nbsp;&nbsp; $39.52 | $4547131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Bond | &nbsp;&nbsp; 260761 | &nbsp;&nbsp; $16.50 | $4303008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Healthcare | &nbsp;&nbsp; 163405 | &nbsp;&nbsp; $49.62 | $8108255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; High Yield | &nbsp;&nbsp; 123660 | &nbsp;&nbsp; $27.75 | $3432157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income | &nbsp;&nbsp; 157849 | &nbsp;&nbsp; $21.35 | $3370078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Equity | &nbsp;&nbsp; 577585 | &nbsp;&nbsp; $21.18 | $12231503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Index | &nbsp;&nbsp;&nbsp;&nbsp; 72293 | &nbsp;&nbsp; $19.52 | $1410985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Growth | &nbsp;&nbsp; 532753 | &nbsp;&nbsp; $83.69 | $44586136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Index | &nbsp;&nbsp; 1692182 | &nbsp;&nbsp; $66.13 | $111910657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Value | &nbsp;&nbsp; 212995 | &nbsp;&nbsp; $46.09 | $9817695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp; 83452 | &nbsp;&nbsp; $15.76 | $1315488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Index | &nbsp;&nbsp; 899528 | &nbsp;&nbsp; $49.11 | $44172799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Stock | &nbsp;&nbsp; 373636 | &nbsp;&nbsp; $52.61 | $19656643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value | &nbsp;&nbsp;&nbsp;&nbsp; 26263 | &nbsp;&nbsp; $22.72 | $596653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderate Allocation | &nbsp;&nbsp; 2107701 | &nbsp;&nbsp; $32.00 | $67455113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive Allocation | &nbsp;&nbsp; 6999151 | &nbsp;&nbsp; $36.50 | $255464207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative Allocation | &nbsp;&nbsp; 206773 | &nbsp;&nbsp; $24.81 | $5129805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market | &nbsp;&nbsp; 3874328 | &nbsp;&nbsp; $1.24 | $4789661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multisector Bond | &nbsp;&nbsp;&nbsp;&nbsp; 79869 | &nbsp;&nbsp; $19.04 | $1520406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Securities | &nbsp;&nbsp; 134623 | &nbsp;&nbsp; $26.58 | $3578651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond | &nbsp;&nbsp; 146244 | &nbsp;&nbsp; $16.23 | $2372959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp; 98648 | &nbsp;&nbsp; $19.46 | $1920007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Index | &nbsp;&nbsp; 848762 | &nbsp;&nbsp; $47.74 | $40518469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Stock | &nbsp;&nbsp; 196346 | &nbsp;&nbsp; $45.11 | $8857715 |
|  |  |  | **$881128224**  |

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(7) UNIT FAIR VALUE - continued**<br>

---

| | | | |
|:---|:---|:---|:---|
| **Year Ended December 31, 2025** | **Units** | **Unit Value** | **Assets in Accumulation** <br> **Period**<br>|
| Thrivent Flexible Premium Variable Life Insurance – 2003 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggressive Allocation | &nbsp;&nbsp; 2066970 | &nbsp;&nbsp; $57.68 | $119216341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Cap | &nbsp;&nbsp;&nbsp;&nbsp; 56443 | &nbsp;&nbsp; $85.71 | $4837817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conservative Allocation | &nbsp;&nbsp; 128966 | &nbsp;&nbsp; $34.49 | $4448401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynamic Allocation | &nbsp;&nbsp;&nbsp;&nbsp; 82399 | &nbsp;&nbsp; $38.16 | $3144664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging Markets Equity | &nbsp;&nbsp;&nbsp;&nbsp; 63942 | &nbsp;&nbsp; $22.67 | $1449862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ESG Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8291 | &nbsp;&nbsp; $24.45 | $202701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Stock | &nbsp;&nbsp; 310615 | &nbsp;&nbsp; $51.56 | $16015169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Bond | &nbsp;&nbsp; 165307 | &nbsp;&nbsp; $19.39 | $3205905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Healthcare | &nbsp;&nbsp;&nbsp;&nbsp; 39414 | &nbsp;&nbsp; $49.62 | $1955759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; High Yield | &nbsp;&nbsp;&nbsp;&nbsp; 94482 | &nbsp;&nbsp; $36.56 | $3454632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income | &nbsp;&nbsp; 180629 | &nbsp;&nbsp; $25.08 | $4530346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Equity | &nbsp;&nbsp; 743793 | &nbsp;&nbsp; $21.18 | $15750446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Index | &nbsp;&nbsp;&nbsp;&nbsp; 25158 | &nbsp;&nbsp; $19.52 | $491034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Growth | &nbsp;&nbsp; 464500 | &nbsp;&nbsp; $111.74 | $51901308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Index | &nbsp;&nbsp; 390721 | &nbsp;&nbsp; $88.15 | $34441057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Value | &nbsp;&nbsp; 179724 | &nbsp;&nbsp; $67.67 | $12162774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp; 28084 | &nbsp;&nbsp; $15.76 | $442707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Index | &nbsp;&nbsp; 145743 | &nbsp;&nbsp; $74.04 | $10790382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Stock | &nbsp;&nbsp; 236066 | &nbsp;&nbsp; $80.29 | $18954399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3730 | &nbsp;&nbsp; $22.72 | $84741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderate Allocation | &nbsp;&nbsp; 1556447 | &nbsp;&nbsp; $40.91 | $63670859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive Allocation | &nbsp;&nbsp; 3947269 | &nbsp;&nbsp; $48.14 | $190019069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative Allocation | &nbsp;&nbsp; 251417 | &nbsp;&nbsp; $30.37 | $7635073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market | &nbsp;&nbsp; 2174951 | &nbsp;&nbsp; $1.43 | $3117573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multisector Bond | &nbsp;&nbsp;&nbsp;&nbsp; 60033 | &nbsp;&nbsp; $22.35 | $1341923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Securities | &nbsp;&nbsp;&nbsp;&nbsp; 84634 | &nbsp;&nbsp; $49.05 | $4150924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond | &nbsp;&nbsp; 193139 | &nbsp;&nbsp; $18.27 | $3528019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp; 25745 | &nbsp;&nbsp; $19.46 | $501090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Index | &nbsp;&nbsp; 142700 | &nbsp;&nbsp; $68.65 | $9796646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Stock | &nbsp;&nbsp; 218458 | &nbsp;&nbsp; $65.40 | $14287122 |
|  |  |  | **$605528743**  |

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(7) UNIT FAIR VALUE - continued**<br>

---

| | | | |
|:---|:---|:---|:---|
| **Year Ended December 31, 2025** | **Units** | **Unit Value** | **Assets in Accumulation** <br> **Period**<br>|
| AAL Variable Universal Life – 1997 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggressive Allocation | &nbsp;&nbsp; 503165 | &nbsp;&nbsp; $57.68 | $29021813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Cap | &nbsp;&nbsp;&nbsp;&nbsp; 19743 | &nbsp;&nbsp; $104.63 | $2065678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conservative Allocation | &nbsp;&nbsp;&nbsp;&nbsp; 68112 | &nbsp;&nbsp; $39.57 | $2695101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynamic Allocation | &nbsp;&nbsp; 228793 | &nbsp;&nbsp; $47.26 | $10813820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging Markets Equity | &nbsp;&nbsp;&nbsp;&nbsp; 27902 | &nbsp;&nbsp; $22.67 | $632663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ESG Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3283 | &nbsp;&nbsp; $24.45 | $80277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Stock | &nbsp;&nbsp; 513969 | &nbsp;&nbsp; $44.32 | $22783008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Bond | &nbsp;&nbsp;&nbsp;&nbsp; 82117 | &nbsp;&nbsp; $27.91 | $2292313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Healthcare | &nbsp;&nbsp;&nbsp;&nbsp; 10985 | &nbsp;&nbsp; $49.62 | $545106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; High Yield | &nbsp;&nbsp;&nbsp;&nbsp; 30447 | &nbsp;&nbsp; $49.50 | $1507142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income | &nbsp;&nbsp;&nbsp;&nbsp; 66480 | &nbsp;&nbsp; $27.97 | $1859581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Equity | &nbsp;&nbsp; 610899 | &nbsp;&nbsp; $21.18 | $12936616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Index | &nbsp;&nbsp;&nbsp;&nbsp; 15292 | &nbsp;&nbsp; $19.52 | $298472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Growth | &nbsp;&nbsp; 213910 | &nbsp;&nbsp; $141.89 | $30353288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Index | &nbsp;&nbsp; 1056253 | &nbsp;&nbsp; $94.68 | $100006188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large Cap Value | &nbsp;&nbsp;&nbsp;&nbsp; 73421 | &nbsp;&nbsp; $85.32 | $6264813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp; 17654 | &nbsp;&nbsp; $15.76 | $278292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Index | &nbsp;&nbsp;&nbsp;&nbsp; 95931 | &nbsp;&nbsp; $87.05 | $8350978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Stock | &nbsp;&nbsp; 217290 | &nbsp;&nbsp; $81.00 | $17601988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3550 | &nbsp;&nbsp; $22.72 | $80647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderate Allocation | &nbsp;&nbsp; 480763 | &nbsp;&nbsp; $40.91 | $19667034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Aggressive Allocation | &nbsp;&nbsp; 938252 | &nbsp;&nbsp; $48.14 | $45167944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderately Conservative Allocation | &nbsp;&nbsp; 118266 | &nbsp;&nbsp; $30.37 | $3591512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market | &nbsp;&nbsp; 754836 | &nbsp;&nbsp; $1.44 | $1087710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multisector Bond | &nbsp;&nbsp;&nbsp;&nbsp; 31754 | &nbsp;&nbsp; $22.77 | $722927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Securities | &nbsp;&nbsp;&nbsp;&nbsp; 20071 | &nbsp;&nbsp; $63.77 | $1279931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond | &nbsp;&nbsp;&nbsp;&nbsp; 60553 | &nbsp;&nbsp; $19.31 | $1169207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp; 16055 | &nbsp;&nbsp; $19.46 | $312492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Index | &nbsp;&nbsp; 339521 | &nbsp;&nbsp; $97.23 | $33002416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Stock | &nbsp;&nbsp; 188919 | &nbsp;&nbsp; $79.79 | $15075437 |
|  |  |  | **$371544394**  |

---

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)<br>

**(8) SUBACCOUNT MERGERS**

A Special Meeting of shareholders of the Thrivent Low Volatillity Equity and Thrivent Multidimensional Income (the "Target Portfolios") which is a separate series of Thrivent Series Fund, Inc. ("the Fund"), was held on June 27, 2024. The Contractholders of each Subaccount voted in favor of merging the Target Portfolios into the Portfolios shown below ("the Acquiring Portfolios") effective July 26, 2024.

---

| | | |
|:---|:---|:---|
|  | **The Target Portfolio** | **The Acquiring Portfolio** |
| Merger 1 | Thrivent Low Volatility Equity | Thrivent Global Stock |
| Merger 2 | Thrivent Multidimensional Income | Thrivent Opportunity Income Plus |

---

The merger was accomplished by tax free exchanges as detailed below:

---

| | | |
|:---|:---|:---|
| **Merger 1** | **Net Assets as of** <br>**July 26, 2024**<br>| **Shares as of** <br>**July 26, 2024**<br>|
| Acquiring Portfolio | &nbsp;&nbsp; $36214185  | &nbsp;&nbsp; 2540954 |
| Target Portfolio | &nbsp;&nbsp; $1140267 | &nbsp;&nbsp; 93682 |
| After Acquisition | &nbsp;&nbsp; $37354452  | &nbsp;&nbsp; 2634636 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Merger 2** | **Net Assets as of** <br>**July 26, 2024**<br>| **Shares as of** <br>**July 26, 2024**<br>|
| Acquiring Portfolio | &nbsp;&nbsp; $3783796  | &nbsp;&nbsp; 421231 |
| Target Portfolio | &nbsp;&nbsp; $896774 | &nbsp;&nbsp; 99725 |
| After Acquisition | &nbsp;&nbsp; $4680570  | &nbsp;&nbsp; 520956 |

---

The target portfolios had the following unrealized appreciation/depreciation, accumulated net realized gains/losses and net investment income as of July 25, 2024.

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Net Investment** <br>**Income (loss)**<br>| **Accumulated Net** <br>**Realized Gain** <br>**(Loss)**<br>|
| Thrivent Low Volatility Equity | &nbsp;&nbsp; $(56789 )<br>| &nbsp;&nbsp; $45305 | &nbsp;&nbsp; $104060 |
| Thrivent Multidimensional Income | &nbsp;&nbsp; $43579  | &nbsp;&nbsp; 74078 | &nbsp;&nbsp; (85112)<br>|

---

Assuming the acquisition had been completed on January 1, 2024 the beginning of the annual reporting period of the Portfolios, the Acquiring Portfolio's unaudited pro forma results of operations for the year ended December 31, 2024, would have been as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Net Investment** <br>**Income (loss)**<br>| **Accumulated Net** <br>**Realized Gain** <br>**(Loss)**<br>|
| Thrivent Global Stock | &nbsp;&nbsp; $2733968  | &nbsp;&nbsp; $780151 | &nbsp;&nbsp; $1690609  |
| Thrivent Opportunity Income Plus | &nbsp;&nbsp; $96317 | &nbsp;&nbsp; $281095 | &nbsp;&nbsp; $(134716 )<br>|

---

Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition was completed, it is not practical to separate the amounts of revenue and earnings of the Target Portfolio that have been included in the Acquiring Portfolio's statement of operations since July 26, 2024.

Assuming the acquisition had been completed on January 1, 2023 the beginning of the annual reporting period of the Portfolios, the Acquiring Portfolio's unaudited pro forma results of operations for the year ended December 31, 2023, would have been as follows:

------

**THRIVENT VARIABLE LIFE ACCOUNT I (SERIES 2019, 2008, 2003, 1997)**

NOTES TO FINANCIAL STATEMENTS (continued)

**(8) SUBACCOUNT MERGERS - continued**<br>

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Net Investment** <br>**Income (loss)**<br>| **Accumulated Net** <br>**Realized Gain** <br>**(Loss)**<br>|
| Thrivent Global Stock | &nbsp;&nbsp; $5599546  | &nbsp;&nbsp; $397074 | &nbsp;&nbsp; $190489 |
| Thrivent Opportunity Income Plus | &nbsp;&nbsp; $216932 | &nbsp;&nbsp; $221562 | &nbsp;&nbsp; $(60641)<br>|

---

------

**<u>PART C. OTHER INFORMATION</u>**

**Exhibits**

Except as noted below, all required exhibits have been previously filed and are incorporated by reference from prior Registration Statements of the Depositor.

---

| | | |
|:---|:---|:---|
| **Exhibit** | **Description** | **Filed Herewith / Incorporated by reference** |
| &nbsp;&nbsp; (a)(i) | &nbsp;&nbsp; Resolution of the Board of Directors of <br> the Depositor authorizing the <br> establishment of the Registrant <br>| &nbsp;&nbsp; Initial registration statement on Form S-6EL24 of Thrivent <br> Variable Life Account I, Registration Statement No. 333-31011, <br> filed on July 10, 1997. <br>|
| &nbsp;&nbsp; (a)(ii) | &nbsp;&nbsp; [Resolution of the Board of Directors of](https://www.sec.gov/Archives/edgar/data/1039305/000103930502000014/resolution.htm)<br> [the Depositor authorizing the name](https://www.sec.gov/Archives/edgar/data/1039305/000103930502000014/resolution.htm)<br> [change of the Registrant to Thrivent](https://www.sec.gov/Archives/edgar/data/1039305/000103930502000014/resolution.htm)<br> [Variable Life Account I](https://www.sec.gov/Archives/edgar/data/1039305/000103930502000014/resolution.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 8 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-31011, filed on August 29, 2002.<br>|
| &nbsp;&nbsp; (b) | &nbsp;&nbsp; Custodian Agreement | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (c)(i) | &nbsp;&nbsp; [Specimen of Distribution Agreement](https://www.sec.gov/Archives/edgar/data/1173488/000119312517047681/d289449dex9924b3a.htm)<br> [with Registered Representatives](https://www.sec.gov/Archives/edgar/data/1173488/000119312517047681/d289449dex9924b3a.htm)<br>| &nbsp;&nbsp; Initial Filing of the registration statement on Form N-4 of <br> Thrivent Variable Annuity Account I, Registration Statement <br> 333-216125, filed on February 17, 2017.<br>|
| &nbsp;&nbsp; (c)(ii) | &nbsp;&nbsp; [Principal Underwriting Agreement](http://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99cii.htm) | &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|
| &nbsp;&nbsp; (d)(i) | &nbsp;&nbsp; [Specimen Flexible Premium Variable](https://www.sec.gov/Archives/edgar/data/1039305/000103930503000022/a42365.htm)<br> [Life Insurance Contracts](https://www.sec.gov/Archives/edgar/data/1039305/000103930503000022/a42365.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on December 15, 2003.<br>|
| &nbsp;&nbsp; (d)(ii) | &nbsp;&nbsp; [Contract Riders and Endorsements](https://www.sec.gov/Archives/edgar/data/1039305/000103930503000003/ex_dii.htm) | &nbsp;&nbsp; Initial registration statement on Form N-6 of Thrivent Variable <br> Life Account I, Registration Statement No. 333-103454, filed <br> on February 26, 2003.<br>|
| &nbsp;&nbsp; (d)(iii) | &nbsp;&nbsp; [Amendatory Agreement](https://www.sec.gov/Archives/edgar/data/1039305/000119312509082704/dex99diii.htm) | &nbsp;&nbsp; Post-Effective Amendment No. 6 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 21, 2009.<br>|
| &nbsp;&nbsp; (d)(iv) | &nbsp;&nbsp; [Amendatory Agreement](https://www.sec.gov/Archives/edgar/data/1039305/000119312511100478/dex99div.htm) | &nbsp;&nbsp; Post-Effective Amendment No. 8 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 18, 2011.<br>|
| &nbsp;&nbsp; (d)(v) | &nbsp;&nbsp; [Amendatory Agreement](https://www.sec.gov/Archives/edgar/data/1039305/000119312514161708/d608202dex99dv.htm) | &nbsp;&nbsp; Post Effective No. 11 to the registration statement on Form <br> N-6 of Thrivent Variable Life Account I, Registration Statement <br> No. 333-103454, filed on April 28, 2014.<br>|
| &nbsp;&nbsp; (e)  | &nbsp;&nbsp; [Application Form](https://www.sec.gov/Archives/edgar/data/1039305/000103930503000003/ex_e.htm) | &nbsp;&nbsp; Initial Filing to the registration statement on Form N-6 of <br> Thrivent Variable Life Account I, Registration Statement No. <br> 333-103454, filed on February 26, 2003.<br>|
| &nbsp;&nbsp; (f) | &nbsp;&nbsp; [Articles of Incorporation of Depositor](d278986dex99f.htm)<br> [and Bylaws of Depositor](d278986dex99f.htm)<br>| &nbsp;&nbsp; Filed herewith |
| &nbsp;&nbsp; (g)(i) | &nbsp;&nbsp; [Reinsurance Agreement with Swiss](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gi.htm)<br> [RE – I2107058US-18](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gi.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 20 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 26, 2023.<br>|
| &nbsp;&nbsp; (g)(ii) | &nbsp;&nbsp; [Reinsurance Agreement with Swiss](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gii.htm)<br> [RE – Amendment 6 to I94119US-07](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gii.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 20 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 26, 2023.<br>|
| &nbsp;&nbsp; (g)(iii) | &nbsp;&nbsp; [Reinsurance Agreement with Swiss](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99giii.htm)<br> [RE – Amendment 7 to I94119US-07](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99giii.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 20 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 26, 2023.<br>|
| &nbsp;&nbsp; (g)(iv) | &nbsp;&nbsp; [Coinsurance Agreement with SCOR](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gii.htm)<br> [Global Life - 6950-05](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gii.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|

---

------

---

| | | |
|:---|:---|:---|
| **Exhibit** | **Description** | **Filed Herewith / Incorporated by reference** |
| &nbsp;&nbsp; (g)(v) | &nbsp;&nbsp; [Coinsurance Agreement with SCOR](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99giii.htm)<br> [Global Life - Amendment 1 to 6950-05](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99giii.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|
| &nbsp;&nbsp; (g)(vi) | &nbsp;&nbsp; [Coinsurance Agreement with SCOR](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99giv.htm)<br> [Global Life - Amendment 2 to 6950-05](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99giv.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|
| &nbsp;&nbsp; (g)(vii) | &nbsp;&nbsp; [Coinsurance Agreement with SCOR](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gv.htm)<br> [Global Life - 201711.1](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gv.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|
| &nbsp;&nbsp; (g)(viii) | &nbsp;&nbsp; [Coinsurance Agreement with SCOR](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gvi.htm)<br> [Global Life - Amendment 1 to](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gvi.htm)<br> [201711.1](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gvi.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|
| &nbsp;&nbsp; (g)(ix) | &nbsp;&nbsp; [Coinsurance Agreement with SCOR](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gix.htm)<br> [Global Life – Amendment to 201711.1](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gix.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 11 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November April 25, 2025.<br>|
| &nbsp;&nbsp; (g)(x) | &nbsp;&nbsp; [Coinsurance Termination with SCOR](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gx.htm)<br> [Global Life – Amendment to 201711.1](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gx.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 11 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November April 25, 2025.<br>|
| &nbsp;&nbsp; (g)(xi) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gvii.htm)<br> [Reinsurance - 1582-00-00](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gvii.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|
| &nbsp;&nbsp; (g)(xii) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gviii.htm)<br> [Reinsurance - 1582-00-01](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gviii.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|
| &nbsp;&nbsp; (g)(xiii) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gxiii.htm)<br> [Reinsurance – Amendment 15852-](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gxiii.htm)<br> [00-06](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gxiii.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 11 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November April 25, 2025.<br>|
| &nbsp;&nbsp; (g)(xiv) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gix.htm)<br> [Reinsurance - 1582-01-00](https://www.sec.gov/Archives/edgar/data/1039305/000119312519302373/d822999dex99gix.htm)<br>| &nbsp;&nbsp; Pre-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November 27, 2019.<br>|
| &nbsp;&nbsp; (g)(xv) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gxv.htm)<br> [Reinsurance – Amendment 15852-](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gxv.htm)<br> [01-04](https://www.sec.gov/Archives/edgar/data/1039305/000119312525096551/d915296dex99gxv.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 11 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on November April 25, 2025.<br>|
| &nbsp;&nbsp; (g)(xvi) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxii.htm)<br> [Reinsurance – Amendment 15852-](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxii.htm)<br> [01-01](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxii.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 20 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 26, 2023.<br>|
| &nbsp;&nbsp; (g)(xvii) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxiii.htm)<br> [Reinsurance – Amendment 15852-](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxiii.htm)<br> [01-03](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxiii.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 20 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 26, 2023.<br>|
| &nbsp;&nbsp; (g)(xviii) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxiv.htm)<br> [Reinsurance- Amendment TLIC](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxiv.htm)<br> [Dissolution](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxiv.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 20 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 26, 2023.<br>|
| &nbsp;&nbsp; (g)(xix) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxv.htm)<br> [Reinsurance – Amendment 3453-](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxv.htm)<br> [00-13](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxv.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 20 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 26, 2023.<br>|
| &nbsp;&nbsp; (g)(xx) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxvi.htm)<br> [Reinsurance – Amendment 3453-](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxvi.htm)<br> [00-15](https://www.sec.gov/Archives/edgar/data/1039305/000119312523118218/d424212dex99gxvi.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 20 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 26, 2023.<br>|
| &nbsp;&nbsp; (g)(xxi) | &nbsp;&nbsp; [Reinsurance Agreement Amendment](https://www.sec.gov/Archives/edgar/data/1039305/000119312524117053/d726136dex99gxvii.htm)<br> [with RGA Claims Document Reduction](https://www.sec.gov/Archives/edgar/data/1039305/000119312524117053/d726136dex99gxvii.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 10 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on April 26, 2024.<br>|

---

------

---

| | | |
|:---|:---|:---|
| **Exhibit** | **Description** | **Filed Herewith / Incorporated by reference** |
| &nbsp;&nbsp; (g)(xxii) | &nbsp;&nbsp; [Reinsurance Agreement Amendment](https://www.sec.gov/Archives/edgar/data/1039305/000119312524117053/d726136dex99gxviii.htm)<br> [with RGA Express Claims Program](https://www.sec.gov/Archives/edgar/data/1039305/000119312524117053/d726136dex99gxviii.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 10 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on April 26, 2024.<br>|
| &nbsp;&nbsp; (g)(xxiii) | &nbsp;&nbsp; [Reinsurance Agreement Amendment](https://www.sec.gov/Archives/edgar/data/1039305/000119312524117053/d726136dex99gxix.htm)<br> [with Gen Re Express Claims Program](https://www.sec.gov/Archives/edgar/data/1039305/000119312524117053/d726136dex99gxix.htm)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 10 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-233397, filed on April 26, 2024.<br>|
| &nbsp;&nbsp; (g)(xxiv) | &nbsp;&nbsp; [Reinsurance Agreement with Munich](d278986dex99gxxiv.htm)<br> [American Reinsurance – 100176](d278986dex99gxxiv.htm)<br>| &nbsp;&nbsp; Filed herewith |
| &nbsp;&nbsp; (g)(xxv) | &nbsp;&nbsp; [Reinsurance Agreement with Optimum](d278986dex99gxxv.htm)<br> [Re Insurance – 2596-24AY05](d278986dex99gxxv.htm)<br>| &nbsp;&nbsp; Filed herewith |
| &nbsp;&nbsp; (g)(xxvi) | &nbsp;&nbsp; [Reinsurance Agreement with RGA](d278986dex99gxxvi.htm)<br> [Reinsurance – 18408](d278986dex99gxxvi.htm)<br>| &nbsp;&nbsp; Filed herewith |
| &nbsp;&nbsp; (g)(xxvii) | &nbsp;&nbsp; [Reinsurance Agreement with Swiss](d278986dex99gxxvii.htm)<br> [Re life & Health American](d278986dex99gxxvii.htm)<br> [125268954US-24](d278986dex99gxxvii.htm)<br>| &nbsp;&nbsp; Filed herewith |
| &nbsp;&nbsp; (h) | &nbsp;&nbsp; [Participation Agreement between](https://www.sec.gov/Archives/edgar/data/1039305/000119312504064690/dex99hi.txt)<br> [Depositor and Thrivent Series Fund,](https://www.sec.gov/Archives/edgar/data/1039305/000119312504064690/dex99hi.txt)<br> [Inc. dated December 15, 2003](https://www.sec.gov/Archives/edgar/data/1039305/000119312504064690/dex99hi.txt)<br>| &nbsp;&nbsp; Post-Effective Amendment No. 1 to the registration statement <br> on Form N-6 of Thrivent Variable Life Account I, Registration <br> Statement No. 333-103454, filed on April 19, 2004.<br>|
| &nbsp;&nbsp; (i) | &nbsp;&nbsp; Administrative Contracts | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (j) | &nbsp;&nbsp; Other Material Contracts  | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (k) | &nbsp;&nbsp; [Opinion & Consent of Counsel](d278986dex99k.htm) | &nbsp;&nbsp; Filed Herewith |
| &nbsp;&nbsp; (l) | &nbsp;&nbsp; Actuarial Opinion  | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (m) | &nbsp;&nbsp; Calculation | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (n) | &nbsp;&nbsp; [Consent of Independent Registered](d278986dex99n.htm)<br> [Public Accounting Firm](d278986dex99n.htm)<br>| &nbsp;&nbsp; Filed Herewith |
| &nbsp;&nbsp; (o) | &nbsp;&nbsp; Omitted Financial Statements | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (p) | &nbsp;&nbsp; Initial Capital Agreements | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (q) | &nbsp;&nbsp; Redeemability Exemption | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (r)  | &nbsp;&nbsp; Form of Initial Summary Prospectus | &nbsp;&nbsp; Not Applicable |
| &nbsp;&nbsp; (s) | &nbsp;&nbsp; [Power of Attorney for John C.](d278986dex99s.htm)<br> [Rademacher](d278986dex99s.htm)<br>| &nbsp;&nbsp; Filed herewith |

---

**Directors and Officers of the Insurance Company**

The directors, executive officers and, to the extent responsible for variable insurance operations, other officers of the Insurance Company, are listed below, unless otherwise indicated, their principal address is 600 Portland Avenue S., Suite 100, Minneapolis, MN 55415-4402.

---

| | |
|:---|:---|
| **Name and Principal Business Address** | **Positions and Offices with Insurance Company** |
| &nbsp;&nbsp; Deborah M. Ackerman | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Morotoluwa Adebiyi | &nbsp;&nbsp; Vice President and Chief Compliance Officer |
| &nbsp;&nbsp; N. Cornell Boggs III | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Kenneth A. Carow | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Bradford N. Creswell | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Lynn Crump-Caine | &nbsp;&nbsp; Chair of the Board of Directors |
| &nbsp;&nbsp; Eric J. Draut | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Paul R. Johnston | &nbsp;&nbsp; Executive Vice President, Chief Legal Officer, General <br> Counsel & Secretary<br>|
| &nbsp;&nbsp; Jill B. Louis | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Kathryn V. Marinello | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Brian J. McGrane | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Nichole B. Pechet | &nbsp;&nbsp; Director |

---

------

---

| | |
|:---|:---|
| **Name and Principal Business Address** | **Positions and Offices with Insurance Company** |
| &nbsp;&nbsp; John C. Rademacher | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Teresa J. Rasmussen | &nbsp;&nbsp; President, Chief Executive Officer, and Director |
| &nbsp;&nbsp; Angela S. Rieger | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; David S. Royal | &nbsp;&nbsp; Executive Vice President, Chief Financial & Investment <br> Officer<br>|

---

**Persons Controlled by or Under Common Control with the Insurance Company or the Registered Separate Account**

Registered Separate Account is a separate account of the Insurance Company. The Insurance Company is a fraternal benefit society organized under the laws of the State of Wisconsin and is owned by and operated for its members. It has no stockholders and is not subject to the control of any affiliated persons.

The following list shows the persons directly or indirectly controlled by Thrivent. Financial statements of Thrivent will be presented on a consolidated basis.

---

| | | |
|:---|:---|:---|
| **Thrivent Entities** | **Primary Business** | **State of**<br> **Organization**<br>|
| Thrivent | &nbsp;&nbsp;&nbsp;&nbsp; Fraternal benefit society <br> offering financial services <br> and products<br>| Wisconsin |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Financial Holdings, Inc.<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Holding company with no <br> independent operations<br>| Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; North Meadows Investment Ltd.<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Real estate development and <br> investment corporation<br>| Wisconsin |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Advisor Network, LLC<sup>2</sup> <br>| Investment adviser | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Asset Management, LLC<sup>2</sup> <br>| Investment adviser | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Bank<sup>2</sup> <br>| Industrial bank | Utah |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Distributors, LLC<sup>2</sup> <br>| Limited purpose broker-dealer | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Financial Investor Services Inc.<sup>2</sup> <br>| Transfer agent | Pennsylvania |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Insurance Agency Inc.<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Life and health insurance <br> agency<br>| Minnesota |
| &nbsp;&nbsp;&nbsp;&nbsp; Newman Financial Services, LLC<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Long-term care insurance <br> agency<br>| Minnesota |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Investment Capital Advisors, LLC<sup>2</sup> <br>| Investment adviser | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Investment Management Inc.<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Broker-dealer and investment <br> adviser<br>| Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Trust Company<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Federally chartered limited <br> purpose trust bank<br>| &nbsp;&nbsp;&nbsp;&nbsp; Federal <br> Charter<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Gold Ring Holdings, LLC<sup>1</sup> <br>| Holding vehicle | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent Education Funding, LLC<sup>1</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; White Rose CFO 2023 Holdings, LLC<sup>1</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; White Rose CFO 2023, LLC<sup>4</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; BADGER FBN 2025 HOLDINGS, LLC<sup>1</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; BADGER FBN 2025, LLC<sup>5</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Trout Holdings GP, LLC<sup>1</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Trout Holdings, L.P.<sup>1</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Blue Rock Holdco LLC<sup>2</sup> <br>| Holding vehicle | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Castle Lending Enterprises, LLC<sup>6</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; College Avenue Student Loans, LLC<sup>7</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; College Ave Student Loan Servicing LLC<sup>8</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; TLC 193 LLC<sup>9</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Museum Finance, LLC<sup>9</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; College Ave Administrator LLC<sup>8</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; College Ave Depositor, LLC<sup>8</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; College Ave Residual Holdings, LLC<sup>8</sup> <br>| Special purpose entity | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; College Ave Holdings 2019-A, LLC<sup>8</sup> <br>| Special purpose entity | Delaware |

---

------

---

| | | |
|:---|:---|:---|
| **Thrivent Entities** | **Primary Business** | **State of**<br> **Organization**<br>|
| Thrivent White Rose GP II, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund II Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP III, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund III Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP IV, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund IV Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP V, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund V Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP VI, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund VI Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP VII, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund VII Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund VII Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP VIII, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund VIII Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP IX, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund IX Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund IX Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP X, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund X Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund X Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP XI, LLC<sup>9</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XI Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XI Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP XII, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XII Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XII Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP XIII, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XIII Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XIII Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP XIV, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XIV Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XIV Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP XV Fund of Funds, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XV Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Feeder XV Fund of Funds, LLC<sup>12</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP XV Equity Direct, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XV Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Feeder XV Equity Direct, LLC<sup>12</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP XVI Fund of Funds, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XVI Fund of Funds, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Feeder XVI Fund of Funds, LLC<sup>12</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose GP XVI Equity Direct, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Fund XVI Equity Direct, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Feeder XVI Equity Direct, LLC<sup>12</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Opportunity Fund GP, LLC<sup>1</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Opportunity Fund, LP<sup>1</sup> <br>| Investment subsidiary | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate GP, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Fund I Fund of Funds, L.P.<sup>11</sup> <br>| Private equity real estate fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate GP II, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Fund II, L.P.<sup>11</sup> <br>| Private equity real estate fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate GP III, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Fund III, L.P.<sup>11</sup> <br>| Private equity real estate fund | Delaware |

---

------

---

| | | |
|:---|:---|:---|
| **Thrivent Entities** | **Primary Business** | **State of**<br> **Organization**<br>|
| Thrivent White Rose Real Estate GP IV, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Fund IV, L.P.<sup>11</sup> <br>| Private equity real estate fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Feeder IV, LLC<sup>12</sup> <br>| Private equity real estate fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate GP V, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Fund V, L.P.<sup>11</sup> <br>| Private equity real estate fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Feeder V, LLC<sup>12</sup> <br>| Private equity real estate fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate GP VI, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Fund VI, L.P.<sup>11</sup> <br>| Private equity real estate fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Real Estate Feeder VI, LLC<sup>12</sup> <br>| Private equity real estate fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance GP, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance Fund, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance GP II, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance Fund II, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance GP III, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance Fund III, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance Feeder III, LLC<sup>12</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance GP IV, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance Fund IV, L.P.<sup>11</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Endurance Feeder IV, LLC<sup>12</sup> <br>| Private equity fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Private Credit GP I, LLC<sup>10</sup> <br>| General partner | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Private Credit Fund I Structured Note LP<sup>11</sup> <br>| Private credit fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Thrivent White Rose Private Credit Fund I LP<sup>11</sup> <br>| Private credit fund | Delaware |
| &nbsp;&nbsp;&nbsp;&nbsp; Twin Bridge Capital Partners, LLC<sup>13</sup> <br>| Investment adviser | Delaware |

---

<sup>1</sup>

Wholly owned subsidiary of Thrivent.

<sup>2</sup>

Wholly owned subsidiary of Thrivent Financial Holdings, Inc. Thrivent is the ultimate controlling entity.

<sup>3</sup>

Wholly owned subsidiary of Thrivent Insurance Agency Inc. Thrivent is the ultimate controlling entity.

<sup>4</sup>

Wholly owned subsidiary of White Rose CFO 2023 Holdings, LLC. Thrivent is the ultimate controlling entity.

<sup>5</sup>

Wholly owned subsidiary of BADGER FBN 2025 HOLDINGS, LLC. Thrivent is the ultimate controlling entity.

<sup>6</sup>

Directly controlled by Blue Rock HoldCo LLC. Thrivent is the ultimate controlling entity.

<sup>7</sup>

Directly controlled by Castle Lending Enterprises, LLC. Thrivent is the ultimate controlling entity.

<sup>8</sup>

Directly controlled by College Avenue Student Loans, LLC. Thrivent is the ultimate controlling entity.

<sup>9</sup>

Directly controlled by College Ave Student Loan Servicing, LLC. Thrivent is the ultimate controlling entity.

<sup>10</sup>

Directly controlled by Thrivent Investment Capital Advisors, LLC, which is the managing member of the limited liability company. Thrivent owns an interest in the limited liability company and is the ultimate controlling entity.

<sup>11</sup>

Directly controlled by its general partner. Thrivent is the ultimate controlling entity. The fund is a pooled investment vehicle organized primarily for the purpose of investing assets of Thrivent's general account.

<sup>12</sup>

Directly controlled by Thrivent Investment Capital Advisors, LLC, which is the managing member of the limited liability company. The fund is a pooled investment vehicle organized as a feeder fund of the fund. Thrivent is the ultimate controlling entity.

<sup>13</sup>

Directly controlled by Thrivent. Investment advisory clients include Pacific Street Fund, Twin Bridge Narrow Gate Fund, Twin Bridge Titan Fund, and Twin Bridge Amplify Fund limited partnerships.

The subsidiaries of Thrivent are shown above. In addition, Thrivent Series Fund, Inc. is an investment company registered under the Investment Company Act of 1940, offering its shares to the separate accounts identified below; and the shares of the Fund held in connection with certain of the accounts are voted by Thrivent in accordance with voting instructions obtained from the persons who own, or are receiving payments under, variable annuity or variable life insurance contracts issued in connection with the separate accounts, or in the same proportions as the shares which are so voted.

1. Thrivent Variable Life Account I

2. Thrivent Variable Insurance Account A

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Thrivent Variable Insurance Account B

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Thrivent Variable Insurance Account C

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Thrivent Variable Annuity Account I

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Thrivent Variable Annuity Account II

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Thrivent Variable Annuity Account A

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Thrivent Variable Annuity Account B

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Thrivent Variable Annuity Account C

**Indemnification**

Section 33 of the Insurance Company's Bylaws, Article VIII the Fund's Articles of Incorporation, Section 4.01 of the Fund's First Amended and Restated Bylaws, and Section Eight of Thrivent Investment Management Inc.'s Articles of Incorporation, contain provisions requiring the indemnification by the Insurance Company, the Funds, and Thrivent Investment Management Inc. of their respective directors, officers and certain other individuals for any liability arising based on their duties as directors, officers or agents of the Insurance Company, Fund or Thrivent Investment Management Inc., unless, in the case of the Fund, such liability arises due to the willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of such office.

Section 8 of the Participation Agreement between the Insurance Company, the Accounts and the Fund contains a provision in which the Fund and Insurance Company mutually agree to indemnify and hold the other party (including its Officers, agents, and employees) harmless for any and all loss, cost damage and expense, including reasonable attorney's fees, incurred by the other party arising out of their performance under the Agreement, unless such liability is incurred as a result of the party's gross negligence, bad faith, or willful misfeasance or reckless disregard of its obligations and duties under the Agreement.

In addition, Section XII of the Investment Advisory Agreement between the Fund and the Insurance Company contain provisions in which the Fund and Insurance Company mutually agree to indemnify and hold the other party (including its officers, agents, and employees) harmless for any and all loss, cost damage and expense, including reasonable attorney's fees, incurred by the other party arising out of their performance under the Agreement, unless such liability is incurred as a result of the party's gross negligence, bad faith, or willful misfeasance or reckless disregard of its obligations and duties under the Agreement.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of Registrant, pursuant to the foregoing provisions or otherwise, Registrant has been advised that, in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Insurance Company, the Fund, or Thrivent Investment Management Inc. of expenses incurred or paid by a director or officer or controlling person of Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person of Registrant in connection with the securities being registered, the Insurance Company, the Fund, or Thrivent Investment Management Inc. will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether or not such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**Principal Underwriter**

*(a) Other activity.* Thrivent Investment Management Inc. is the principal underwriter of the Contracts.

*(b) Management.* The directors and principal officers of Thrivent Investment Management Inc. are set out below. Unless otherwise indicated, the principal business address of each person named below is 600 Portland Avenue S., Suite 100, Minneapolis, MN 55415-4402.

---

| | |
|:---|:---|
| **Name and Principal Business Address** | **Position and Offices with Underwriter** |
| &nbsp;&nbsp; Nicholas M. Cecere | &nbsp;&nbsp; Executive Vice President, Chief Distribution Officer, and <br> Director<br>|
| &nbsp;&nbsp; Thomas J. Birr<br> 4321 North Ballard Road<br> Appleton WI 54919<br>| &nbsp;&nbsp; Vice President |
| &nbsp;&nbsp; Arika V. Johnson | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; David J. Kloster | &nbsp;&nbsp; President and Director |
| &nbsp;&nbsp; Andrea C. Golis | &nbsp;&nbsp; Chief Compliance Officer |
| &nbsp;&nbsp; Andrew D. Norgard | &nbsp;&nbsp; Treasurer  |

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| | |
|:---|:---|
| **Name and Principal Business Address** | **Position and Offices with Underwriter** |
| &nbsp;&nbsp; Paul R. Johnston | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Caleb A. Bousu | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Kathleen M. Koelling<br> 4321 North Ballard Road<br> Appleton WI 54919<br>| &nbsp;&nbsp; Vice President, Privacy Officer |
| &nbsp;&nbsp; Tonia Nicole James Gilchrist | &nbsp;&nbsp; Chief Legal Officer and Secretary |
| &nbsp;&nbsp; Sharon K. Minta<br> 4321 North Ballard Road<br> Appleton WI 54919<br>| &nbsp;&nbsp; Anti-Money Laundering Officer |
| &nbsp;&nbsp; Cynthia J. Nigbur | &nbsp;&nbsp; Assistant Secretary  |
| &nbsp;&nbsp; Jessica E. English | &nbsp;&nbsp; Assistant Secretary |
| &nbsp;&nbsp; Maria E. Sanchez | &nbsp;&nbsp; Assistant Secretary |
| &nbsp;&nbsp; Mary E. Faulkner<br> 4321 North Ballard Road<br> Appleton WI 54919<br>| &nbsp;&nbsp; Vice President Chief Information Security Officer |

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*(c) Compensation from Registrant.* Not Applicable.

**Location of Accounts and Records**

The accounts and records of Registrant are located at the offices of Depositor at 600 Portland Avenue S., Suite 100, Minneapolis, Minnesota 55415-4402 and 4321 North Ballard Road, Appleton, Wisconsin 54919.

**Management Services** 

Not Applicable.

**Fee Representation**

Depositor represents that, as to the flexible premium variable life contracts that are the subject of this registration statement, File No. 333-103454, that the fees and charges deducted under the contracts, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by the Depositor.

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**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under rule 485(b) under the Securities Act and has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Minneapolis, and the State of Minnesota on this 29th day of April, 2026.

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| | |
|:---|:---|
| Thrivent Variable Life Account I<br> (Registrant) | Thrivent Variable Life Account I<br> (Registrant) |
| By: | /s/Tonia Nicole James Gilchrist  |
|  | Vice President and Managing Counsel on behalf of the <br> Registrant<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Thrivent Financial for Lutherans<br> (Depositor) | Thrivent Financial for Lutherans<br> (Depositor) |
| By: | /s/Tonia Nicole James Gilchrist  |
|  | Vice President and Managing Counsel on behalf of the <br> Depositor<br>|

---

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities indicated below.

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| | |
|:---|:---|
| &nbsp;&nbsp; Teresa J. Rasmussen\*  | &nbsp;&nbsp; President, Chief Executive Officer and Director<br> (Principal Executive Officer) |
|  | &nbsp;&nbsp; President, Chief Executive Officer and Director<br> (Principal Executive Officer) |
| &nbsp;&nbsp; David S. Royal\* | &nbsp;&nbsp; Executive Vice President, Chief Financial & <br> Investment Officer<br>|
| &nbsp;&nbsp; Paul R. Johnston\* | &nbsp;&nbsp; Executive Vice President, Chief Legal Officer, <br> General Counsel & Secretary<br>|
| &nbsp;&nbsp; Deborah M. Ackerman\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; N. Cornell Boggs III\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Kenneth A. Carow\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Bradford N. Creswell\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Lynn Crump-Caine\* | &nbsp;&nbsp; Chair of the Board of Directors |
| &nbsp;&nbsp; Eric J. Draut\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Jill B. Louis\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Kathryn V. Marinello\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Brian J. McGrane\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Nichole B. Pechet\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; John C. Rademacher\* | &nbsp;&nbsp; Director |
| &nbsp;&nbsp; Angela S. Rieger\* | &nbsp;&nbsp; Director |

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\* Tonia Nicole James Gilchrist, by signing her name hereto, does hereby sign this document on behalf of each of the above-named directors and officers of Thrivent Financial for Lutherans pursuant to powers of attorney duly executed by such persons.

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| | |
|:---|:---|
| &nbsp;&nbsp; /s/Tonia Nicole James Gilchrist | &nbsp;&nbsp; April 29, 2026 |
| &nbsp;&nbsp; Tonia Nicole James Gilchrist<br> Attorney-in-Fact<br>| &nbsp;&nbsp; Date |

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**INDEX TO EXHIBITS**

The exhibits below represent only those exhibits which are newly filed with this Registration Statement. See Part C – Other Information for exhibits not listed below.

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| | |
|:---|:---|
| **Exhibit Number** | **Name of Exhibit** |
| &nbsp;&nbsp; (f) | &nbsp;&nbsp; Articles of Incorporation of and Bylaws of the Depositor |
| &nbsp;&nbsp; (g)(xxiv) | &nbsp;&nbsp; Reinsurance Agreement with Munich American Reassurance – 100176 |
| &nbsp;&nbsp; (g)(xxv) | &nbsp;&nbsp; Reinsurance Agreement with Optimum Re Insurance - 2596-24AY05 |
| &nbsp;&nbsp; (g)(xxvi) | &nbsp;&nbsp; Reinsurance Agreement with RGA Reinsurance – 18408 |
| &nbsp;&nbsp; (g)(xxvii) | &nbsp;&nbsp; Reinsurance Agreement with Swiss Re Life & Health America 125268954US-24 |
| &nbsp;&nbsp; (k) | &nbsp;&nbsp; Opinion & Consent of Counsel |
| &nbsp;&nbsp; (n) | &nbsp;&nbsp; Consent of Independent Registered Public Accounting Firm |
| &nbsp;&nbsp; (s) | &nbsp;&nbsp; Power of Attorney for John C. Rademacher |

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## Ex-99.(F)

![LOGO](g95392dsp001.jpg)

**Articles of Incorporation and Bylaws** 

**Preface** 

The Thrivent Financial for Lutherans Articles of Incorporation and Bylaws printed in this brochure are part of your fraternal contract with Thrivent Financial for Lutherans. (See Bylaws section 4). They set the framework within which all programs, operations, and policies of this fraternal benefit society must fall. Members of

**Articles of Incorporation** 

**As amended June 5, 2013** 

**I** 

**Name** 

The name of this fraternal benefit society shall be "Thrivent Financial for Lutherans" and shall hereafter be referred to in these Articles of Incorporation as "the Society."

**II** 

**Place of Business** 

The principal office of the Society shall be at Appleton, Wisconsin.

**III** 

**Powers** 

For the purposes set forth in these articles, the Society, a Wisconsin corporation organized and operating under the laws governing Fraternals, shall have all the powers granted by law.

**IV** 

**Purpose** 

The purpose of the Society is to associate Christians and their families who support the mission of the Society and thereby enable them through membership in the Society to aid themselves and others with programs of:

1. Insurance and other benefits permissible under the laws governing Fraternals; and

2. Fraternal and benevolent activities in local branches; and

3. Assistance to Lutheran and other Christian congregations and their institutions; and

4. Assistance to such other lawful social, intellectual, educational, charitable, benevolent, moral, fraternal,
patriotic or religious endeavors as the board of directors may determine.

the Thrivent Financial for Lutherans Board of Directors, as representatives of all members of the society, use the articles and bylaws to make decisions about corporate objectives, policies, and strategy. These decisions, in turn, dictate the course of management decisions.

**V** 

**Supreme Governing Body** 

The supreme governing body shall be a board of directors made up of benefit members of the Society. The board shall consist of no fewer than 10 but no more than 12 elective directors, such appointive directors as the board may appoint and not more than two principal officers of the society designated by the board from time to time, all in a manner prescribed in the bylaws. The elective directors shall be elected by the benefit members in a manner prescribed in the bylaws, and shall constitute not less than two-thirds of the members of the board in number.

**VI** 

**Membership** 

**1.** **Classes of members.** There shall be the following classes of members:

**A.** **Benefit member.** A benefit member is a person of age 16 or more who has been accepted for membership in
accordance with eligibility rules as determined by resolution of the board of directors and who is an applicant member on a certificate of membership and insurance pursuant to rules determined by resolution of the board of directors, or who receives
a settlement agreement benefit by virtue of such insurance. Benefit members may participate in the affairs and activities of the local branch in which they are members and may also hold office therein. Benefit members shall also have the right to
vote in the corporate and insurance affairs of the Society according to the articles and bylaws.

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**B.** **Associate member.** An associate member is a person age 16 or more who has been accepted for membership in
accordance with eligibility rules as determined by resolution of the board of directors and who is issued a certificate of membership. Associate members may participate in the affairs and activities of the local branch in which they are members, and
may hold office therein, but shall not have the right to vote in the corporate and insurance affairs of the Society.

**C.** **Youth member.** A youth member is a person under age 16 who has been accepted for membership in accordance
with eligibility rules as determined by resolution of the board of directors and who is issued a certificate of membership or is issued a certificate of membership and insurance pursuant to paragraph 2 of this Article VI. Youth members may
participate in the affairs and activities of the local branch in which they are members that are offered to youth members, but shall not have the right to hold office or vote in local branch affairs or vote in the corporate and insurance affairs of
the Society.

**2.** **Juveniles.** The Society may insure the lives or disability of children younger than the minimum age for
benefit membership but otherwise eligible for benefit membership. Such insurance shall be issued upon the application of some adult person who shall not by reason thereof, nor by reasons of any benefit providing waiver of premiums, become a benefit
member. At age 16 the insured juvenile shall become a benefit member.

**VII** 

**Branches** 

Local branches may be chartered by the board of directors in a manner prescribed in the bylaws, and shall have such powers as the board of directors shall determine.

**VIII** 

**Bylaws** 

The board of directors shall have power to make bylaws, and to repeal or amend them. Notice of changes to the bylaws shall be given to benefit members and applicants for juvenile insurance in a manner prescribed in the bylaws.

**IX** 

**Action Without Meeting** 

Any action required or permitted to be taken at a board of directors meeting may be taken by written action signed by two-thirds of the directors then in office. A written consent under this provision has the same force and effect as a vote of the board of directors taken at a meeting.

**X** 

**Amendments** 

These articles may be amended or repealed in whole or in part by a majority of the votes cast by benefit members. Before submitting such changes to a vote of the benefit members, the board of directors shall approve such changes by an affirmative vote of a majority of the full board. Upon adoption by the benefit members such changes shall be filed with the Commissioner of Insurance of the state of Wisconsin and shall be published in the official publication in a manner prescribed in the bylaws.

**Notice of Changes to Bylaws** 

The following changes to the bylaws of the Society were adopted by the board of directors on August 14, 2025. Text that is added to the bylaws is shown by underline. Text that is deleted from the bylaws is shown by stricken text.

**Bylaws** 

**As amended August 14, 2025** 

**Definitions** 

**Section 1.** Wherever the term "the Society" appears in these bylaws, it means this fraternal benefit society as named in Article I of the Articles of Incorporation. Wherever the term "board" appears in these bylaws, it means "board of directors."

**Application for Membership** 

**Section 2.** Application for membership shall be upon a form in use by the Society. Application for youth membership shall be completed by an adult person on behalf of the applicant for youth membership.

**Juvenile Insurance** 

**Section 3.** Application for juvenile insurance shall be upon a form in use by the Society and shall be accompanied by evidence of insurability (if required) which is acceptable to the Society under its rules and regulations. Juvenile certificates shall be under the control of the adult applicant for the period provided in the certificate. If it be in the best interest of the juvenile as determined by the Society, the applicant may be divested of control of a juvenile certificate. If the applicant has been divested of control of the juvenile certificate or if the applicant has died, control shall be vested in the legally appointed guardian of the juvenile. If a guardian is not appointed, control shall be vested in a person who shall appear to the Society to be an appropriate person to control the certificate by reason of being responsible for the support and maintenance of such juvenile, or by reason of relationship.

**Fraternal Contract** 

**Section 4.** The certificate of membership and insurance, together with any riders or endorsements attached to it, the application, the declaration of insurability (if any) signed by the applicant, the articles of incorporation and bylaws and all amendments to them, constitute

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the entire contract when it is issued. Any subsequent changes to the articles of incorporation or bylaws shall be binding upon the applicant benefit member, certificate owner, beneficiaries and other persons affected, and shall govern and control in all respects, except that no changes shall destroy or diminish benefits promised in the certificate when it was issued.

**Beneficiaries** 

**Section 5.** Any of the following persons may be designated as a beneficiary: the applicant benefit member, wife, husband, child, parent or other person related to the benefit member by blood, marriage or legal adoption; foster parents of the benefit member; betrothed of the benefit member; dependents of the benefit member; or, where not prohibited by law, the estate of the benefit member. With the consent of the Society, any of the following may also be designated as beneficiary: a charitable institution; church or church organization; educational institution; a nonprofit corporation; any corporation, community chest, fund or foundation described in section 501(c)(3) of the Internal Revenue Code of 1954 and its subsequent amendments, and operated exclusively for religious, charitable, scientific, literary or educational purposes; or a person, corporation, partnership or other legal entity which has an interest in the benefit member, provided that the proceeds are for the benefit, direct or indirect, of the benefit member or the benefit member's family or dependents. Wherever the applicable laws conflict with the above, only beneficiaries permitted by such laws may be designated.

**Section 6.** Unless the beneficiary designation calls for some other method of distribution, if some beneficiaries of the same class die before the insured, the death proceeds shall be paid in full to the surviving beneficiaries of the same class. Each shall share equally the portion of the death benefit proceeds not otherwise disposed of in the certificate. If all beneficiaries, however designated, are dead when the insured dies, the death benefit proceeds—where not otherwise required by law—shall be paid to the owner or to the owner's estate.

A beneficiary shall not have or acquire any claim against the Society until the insured dies unless otherwise provided by law.

**Section 7.** No beneficiary change shall take effect unless received by the Society at its principal office or corporate headquarters. When it is received, any change shall take effect as of the date the request for beneficiary change was signed, as long as the request for change was mailed or actually delivered to the Society while the insured was alive. Such beneficiary change shall be null and void where the Society has made a good faith payment of the proceeds or has taken other action before receiving the change.

**Settlement Options** 

**Section 8.** In addition to the settlement options offered in the certificate, the Society may offer any other

manner of settlement made available by the Society at the time certificate proceeds are to be paid.

**Maintenance of Solvency** 

**Section 9.** If the Society's reserves for any class of certificates, other than those portions of any certificate that provide variable benefits based on the experience of a separate account authorized under Section 10, become impaired, the board may require that benefit members pay the Society an equitable amount to eliminate the deficiency. If the amount is not paid, it shall be charged as an indebtedness against the certificate and shall draw interest at the lower rate of either what is specified in the certificate for certificate loans or what is specified in the certificate under the maintenance of solvency provision. If the owner of the certificate agrees, an equivalent reduction in benefits can be chosen instead of the payment or indebtedness charged against the certificate.

**Separate Accounts** 

**and Variable Contracts** 

**Section 10.** The board of directors may provide for the establishment and operation of one or more separate accounts in accordance with applicable law. The Society may issue contracts on a variable basis that provide for the dollar amount of benefits or other contractual payments or values to vary so as to reflect the investment results of such separate accounts. The board of directors may adopt special procedures or create legal entities necessary or appropriate for the conduct of the business and affairs of any variable contract and separate account. Any provisions of the bylaws that are inconsistent with the provisions of this bylaw shall not apply to any variable contract or separate account.

**Resolution of Disputes** 

**Section 11.** 

**(a)** **Purpose.** The purpose of this section is to prescribe the sole means to present and resolve grievances,
complaints or disputes between members, insureds, certificate owners or beneficiaries and the Society or its directors, officers, agents and employees. Procedures set forth in this section are meant to provide prompt, fair and efficient
opportunities for dispute resolution, consistent with the fraternal nature of the Society, without the delay and expense of formal legal proceedings.

**(b)** **Scope.** Except as expressly limited herein (see Subsection 11(e)), this section applies to all past,
current and future benefit certificates, members, insureds, certificate owners, beneficiaries and the Society. It applies to all claims, actions, disputes and grievances of any kind or nature whatsoever. It includes, but is not limited to, claims
based on breach of benefit contract, as well as claims based on fraud, misrepresentation, violation of statute, discrimination, denial of civil rights, conspiracy, defamation, and infliction of distress, against the Society or its directors,
officers, agents or

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employees. To the extent permitted by applicable law, this section applies to all claims, actions, disputes and grievances brought by the Society against members, insureds, certificate owners or beneficiaries. In the event that a court or arbitrator of competent jurisdiction deems any party or claim in a dispute not subject to this section, this section shall remain in full force and effect as to any remaining parties or claims involved in such dispute. This section does not apply to any claims or disputes relating to major medical insurance certificates or interpleader actions to determine proper owner, beneficiary or payee.

**(c)** **Procedures.** No lawsuits or any other actions may be brought for any claims or disputes covered by this
section. The following are the steps and procedure for presenting and resolving disputes:

• **Step 1. Appeal.** Appeal of the dispute to a designated reviewer within the Society as appropriate to the dispute.

• **Step 2. Mediation.** If Step 1 does not result in a mutually satisfactory resolution, either party has the right to have the matter mediated in accordance with the applicable mediation rules of the American
Arbitration Association (or the rules of another neutral organization as agreed upon by the parties). The mediation shall be administered by a neutral organization agreed upon by the parties.

• **Step 3. Arbitration.** If Step 2 does not result in a mutually satisfactory resolution, the matter will be resolved by binding arbitration in accordance with the applicable arbitration rules as prescribed by
the American Arbitration Association (or the rules of another neutral organization mutually agreed upon) as applicable to the type of matter in dispute. The arbitration shall be administered by a neutral organization agreed upon by the parties. The
decision of the arbitrator shall be final and binding, subject only to the right to appeal such decision as provided in the arbitration rules and applicable laws. The member, insured, certificate owner or beneficiary shall have the right to be
represented by legal counsel of his or her choosing at any time at his or her own expense (unless, as provided in Section 11(f) below, he or she is awarded attorneys fees). If an issue in dispute is subject to law that prohibits parties from
agreeing to submit future disputes to binding arbitration, arbitration results shall be nonbinding, unless the parties agree to binding arbitration after the claim or dispute has arisen. The Society will take reasonable measures to assure that the
dispute resolution process proceeds promptly.

**(d)** **Costs.** The administrative costs of the mediation and/or arbitration (including fees and expenses of
mediators or arbitrators, filing fees, reasonable and necessary court reporting fees) shall be paid

by the Society. Provided, however, unless awarded pursuant to Section 11(f) below, each party shall bear its own attorney's fees, expert fees and discovery costs.

**(e)** **Restriction of Joinder of Disputes.** The procedures of this section are designed to afford individual
members, insureds, certificate owners, beneficiaries and the Society a prompt, fair and efficient means of resolving individual disputes. Accordingly, no disputes may be brought forward in a representative group or on behalf of or against any
"class" of persons, and the disputes of multiple members, insureds, certificate owners or beneficiaries (other than immediate family) may not be joined together for purposes of these procedures without the express written consent of both
(i) all members, insureds, certificate owners and beneficiaries affected thereby and (ii) the Society. The restriction on joinder of disputes contained in this Subsection 11(e) is a condition upon which the agreement to arbitrate contained
in Subsections 11(b) and (c) depends. Thus, should a court or arbitrator of competent jurisdiction deem the restriction on joinder of disputes contained in this Subsection 11(e) unenforceable or otherwise void, there shall be no agreement to
arbitrate.

**(f)** **Remedies.** This paragraph applies to any claim or dispute resolved through binding arbitration as
provided in Section 11(c) above, and it applies to any action in a court of law in the event that a court or arbitrator of competent jurisdiction deems any party or claim in a dispute not subject to binding arbitration. The parties to a dispute
may be awarded any and all damages or other relief allowed for the claim in dispute by applicable federal or state law, including attorney's fees and expenses if such attorney's fees and expenses are deemed appropriate under applicable
law. Exemplary or punitive damages may be awarded to the extent permitted under applicable federal or state law.

**Receipt of Payments not a Waiver** 

**Section 12.** If the Society receives and temporarily holds a payment or premium, this shall not constitute a waiver of any of its defenses. If a certificate has lapsed or been forfeited, or if the Society has received a notice of cancellation, the payment of any premium for the certificate shall not revive or continue the certificate, whether made on notice of premium due or otherwise, and the payment shall be returned to the person making it.

**Board of Directors** 

**Section 13.** The affairs of the Society shall be managed under the direction of the board. The board shall meet at least quarterly. The first regular meeting of each calendar year shall be held during the month of February, on specific dates as set by the board. All meetings shall be held at the principal office or corporate headquarters of the Society unless some

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other place is designated by the chair of the board or board. Regular or special meetings of the board of directors or its committees may also be conducted by other means of communication, as prescribed by Wisconsin law, if so designated by the board, the chair of the board, the chief executive officer, or the chair of a committee of the board with respect to committee meetings. Special meetings may be called by the chief executive officer, chair of the board, or upon written request to the secretary by at least five directors. The chief executive officer, the chair of the board, or secretary shall notify the directors of the date, time and place of special meetings at least two calendar days before the date of the meetings. Notice may be communicated in person; by mail or other method of delivery; by telephone, including voicemail, answering machine or answering service; or by any other electronic means. Written notice includes written documents in any form, including electronic transmission. Written notice shall be deemed to be given to a director at the earliest of (a) when actually received by the director, (b) five days after a written notice is deposited in the U.S. mail addressed to the director and post-paid, or (c) on the date shown on the return receipt, if sent by registered or certified mail, return receipt requested, and the receipt is signed by or on behalf of the addressee. For purposes of this section, notice by electronic transmission is written notice. Oral notice is effective when communicated. Except in the case of removal of a director from office for cause, directors may waive their right to receive notice individually, and the board, by unanimous vote of the full board, may suspend the requirement to give such notice.

**Section 14.** The board shall elect a chair of the board from among its members for a term of up to one year. The chair shall preside at all meetings of the board and perform such other duties as may be designated by the board. If the chair of the board is a principal officer of the Society, he or she shall be responsible only to the board.

**Section 15.** A majority of the members of the board shall constitute a quorum to transact all business unless otherwise required in the articles of incorporation or bylaws of the Society.

**Election Or Appointment Of Directors** 

**Section 16.** Ten to 12 benefit members shall be elected to the board for terms of office of four years each, the total number serving and the number to be elected in a given year as determined from time to time by resolution of the board of directors, with no less than two or more than four directors being elected in a year when an election is held. The process of election to be conducted in the following manner: The board, as well as each branch, shall have the right to nominate benefit members as candidates for director. All nominations must be reported to the secretary of the Society within the

time specified by the board. The secretary shall report the nominations to the board. The board shall then direct the secretary to prepare the ballot and give notice of the election, specifying the time and procedures for election. A vote shall be taken on the candidates by mail, or such other legal means as the board should determine, and shall be reported in the manner and within the time specified in the notice of election. Those elective directors whose terms do not expire with the current election shall constitute the Election Committee. The tabulation of results of the election shall be done by an independent firm selected by the board to report to the Election Committee. The Election Committee shall declare the two to four (depending on the number to be elected) candidates receiving the highest number of valid votes to be duly elected for a four-year term beginning with the first regular meeting of the board in February of the calendar year following election. All elective director terms shall end in February at the end of such four years. Directors shall hold office for the term for which they are elected, unless a director's death, resignation, removal, or ineligibility to serve on the board occurs or the term of a successor begins before the end of such term. Directors may be elected for successive terms, subject to service limitations and other eligibility restrictions in these bylaws.

**Section 17.** Vacancies in elective directorship positions shall be filled as soon as possible by an affirmative vote of a majority of the remaining elective directors. Such directors shall fill the unexpired terms and shall be considered elective directors.

**Section 18.** Except as provided in Section 19, benefit members of the Society are not eligible for election to the board for an initial term unless they are eligible to serve the duration of one full four-year term under the age limitation stated in Section 20 of these bylaws. Employees of the Society, employees of subsidiaries or affiliates of the Society, and persons who sell or manage the sale of Society's insurance or insurance of another insurer that is a direct competitor of the Society are not eligible for election to the board. Former employees of the Society, former employees of subsidiaries or affiliates of the Society, and persons who formerly sold or managed the sale of the Society's insurance or insurance of another insurer that is a direct competitor of the Society, are not eligible for election to the board until the expiration of two years from the date of termination of their employment or agency. The board of directors may determine other eligibility rules and requirements for candidates for election to the board of directors.

**Section 19.** The board may appoint up to four benefit members of the Society to serve as appointive directors for a term of office of up to one year. Terms of appointive directors end at the

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beginning of the next regular February meeting of the board after appointment. The board may also appoint not more than two principal officers of the Society to serve as directors as the board shall from time to time determine to be in the Society's best interest. Any appointment or reappointment shall require the affirmative vote of a majority of the elective directors. An appointive director shall be eligible for election pursuant to Section 16 or appointment pursuant to Section 19 if the date of initial appointment as an appointive director preceded such director's 69th birthday and if the director is otherwise eligible for election under these bylaws.

**Section 20.** No elective, appointive, or principal officer director shall serve beyond January 31 of the calendar year after the calendar year in which age 75 is attained. No director, except a principal officer director serving at the pleasure of the board, shall serve beyond January 31 of the calendar year after the calendar year in which twelve years of service as a director is completed. A director may be removed from office for cause by an affirmative vote of a majority of the full board at a meeting of the board called for that purpose.

**Conflicts Of Interest** 

**Section 21.** 

**(a)** **Conflict of Interest Policy.** It is the policy of the Society to identify and manage conflicts of
interest on the part of its directors, officers, employees and agents which might impair their independence of judgment or influence their decisions or actions with respect to the Society's business. The board of directors shall by resolution
adopt rules for the required disclosure and evaluation of conflicts of interest by directors, officers and such other persons as the board may determine. If a conflict is determined to exist for a director, officer, or other person under rules and
procedures established by the board with respect to a decision under consideration by the board or a committee of the board, such director, officer or other person shall not vote on the decision or use personal influence to affect the decision.
However, any director disclosing a conflict of interest may be counted in determining the presence of a quorum. Failure of a director to disclose a conflict of interest as required by resolution of the board or a failure of a director to eliminate a
conflict of interest determined by a majority of the full board to be an unacceptable conflict of interest shall be cause for removal of a director under section 20 of these bylaws.

**(b)** **Persons Not Eligible to Serve as Director.** No person shall be eligible for election or appointment as a
director of the Society who is the spouse, parent, child, brother, sister,

brother- or sister-in-law, parent-in-law, son-in-law or daughter-in-law of a principal officer or general agent of the Society. If a family relationship referred to in this section begins during the time that a person is serving a term as a director, such director is eligible to complete his or her current term as a director, but is not eligible for reelection or reappointment to the board after expiration of his or her current term. If a director with a family relationship referred to in this section is a principal officer of the Society serving at the pleasure of the board at the time the relationship begins, the board shall determine the period of time the director may remain on the board. Any person having employment, a directorship, or other relationship that is not permitted for directors of the Society pursuant to applicable law or regulation is not eligible to serve as a director.

**(c)** **Approval of Employment.** Directors and former directors, except for directors that are principal officers
serving at the pleasure of the board, are not eligible for employment, consulting, or providing other service for payment with the Society or subsidiaries or affiliates of the Society unless such employment, contract, or agency relationship begins
after termination as a director and is approved by an affirmative vote of two-thirds of the directors then in office.

**Committees of Directors** 

**Section 22.** The board by resolution adopted by a majority of the full board may designate a governance committee and one or more additional committees of directors. Each committee shall consist of three or more directors who serve by appointment of the board. Each committee shall have such authority as delegated to it by the board. A majority of the members of each committee of directors shall constitute a quorum for the transaction of all committee business. Vacancies occurring on committees of directors shall be filled by the board as soon as possible.

**Officers of the Society** 

**Section 23.** The principal officers of the Society shall be the chief executive officer, president, secretary, treasurer, and all other senior executives designated by such titles as recommended by the chief executive officer. Principal officers shall be appointed by the board and shall serve at the pleasure of the board. Officers other than principal officers shall be appointed by the chief executive officer.

**Section 24.** The board shall elect the person who shall serve as chief executive officer of the Society. The chief executive officer shall be responsible only to the board. All other officers and employees of the

------

Society shall be under the chief executive officer's supervision and control. Subject to the control and direction of the board, all activities and operations of the Society shall be under the chief executive officer's supervision and control.

**Section 25.** The board shall establish reasonable compensation for directors and principal officers. The chief executive officer shall establish compensation for officers under his or her supervision and control, other than principal officers, in accordance with policies established by the board.

**Official Publication** 

**Section 26.** The Society shall have an official publication. The name of the publication shall be determined by resolution of the board of directors. Any notice, report or statement required by law, including notice of election, may be published in the official publication. If Society records show that two or more members or applicants for juvenile insurance have the same mailing address, an official publication mailed to one of them is deemed mailed to all of them at the same address unless a separate copy is requested.

All amendments to the Articles of Incorporation and Bylaws of the Society shall be published in the official publication not later than four months after the date of filing such amendments with the Commissioner of Insurance of the state of Wisconsin.

An affidavit by the secretary of the Society certifying that the official publication was mailed in accordance with this section shall be submitted to the board at its next meeting after publication of any notice, report or statement required by law. The affidavits shall be filed in the records of the secretary's office.

**Fiscal Year** 

**Section 27.** The fiscal year of the Society shall begin on the first day of January and end on the 31st day of December.

**Annual Report** 

**Section 28.** An annual statement of the transactions of each fiscal year shall be prepared and published in the official publication within six months following the close of each fiscal year.

**Branches** 

**Section 29.** Branches of the Society shall be called "chapters," "Thrivent communities," or by other names as determined by the Board of Directors. Branches shall be created and maintained to foster voluntary activity for aiding such lawful social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious endeavors as the branch determines in accord with policies of the board; to provide members with the opportunity to take part in social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, and

religious activities of the Society; to participate in and support local, regional, and national programs of the Society; and to provide members with the opportunity to participate in the process of selection of candidates for the board of directors of the Society.

**Section 30.** Branches may be chartered by resolution of the board upon petition to it by benefit or associate members. The number of required member signatures shall be determined by the board. The petition shall verify acceptance of the Articles of Incorporation and Bylaws of the Society and the applicable constitution for branches. Branch charters may be granted by the board pursuant to such petitions when the board determines it to be in the best interests of the Society. Charters may be amended or withdrawn when the board determines it to be in the best interests of the Society. The form of petitions, charters and constitutions for branches shall be adopted by the board. There may be more than one form of petition and constitution for branches.

**Section 31.** Regular meetings of the branches shall be held at least once every three months or at least as frequently as may otherwise be required by law. Meetings or other procedures for election of branch officers and branch board members and the selection of candidates for the board of directors of the Society shall be held as prescribed by the board or adopted under authority delegated by the board.

**Section 32.** Branches may voluntarily join together to assist each other in the performance of their activities, subject to the general supervision and control of the board.

**Indemnification and Fidelity Bonds** 

**Section 33.** The Society, to the fullest extent permitted by present and future law, shall indemnify any person who is or was a director, officer or employee of the Society and any person who at the request of the Society is or was a director, officer, employee or trustee of another corporation, partnership, joint venture, trust or other enterprise, or any director, officer or employee who is or was serving in a fiduciary capacity with regard to any employee benefit plan, against liability for any proceeding in connection with performance of his or her duties, and pay as incurred expenses in connection therewith. In a proceeding related to the entitlement to indemnification or advancement and reasonableness of expenses, the Society intends that such rights may only be nullified by clear and convincing evidence. The rights conferred by this section shall vest immediately at the time a person becomes a director, officer, employee or trustee and shall at all times be equivalent for current and former directors, officers, employees or trustees, provided, however, that no amendment to these Bylaws shall reduce the indemnification rights of former directors, officers, employees or trustees.

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The Society may purchase and maintain insurance on behalf of any such individual against liability asserted against and expenses incurred by the individual for any proceeding in connection with performance of his or her duties regardless of whether the Society is required or authorized to indemnify or allow expenses to the individual against the same liability. If such insurance is purchased, the amounts shall be reported on a regular basis to the board or its designated committee.

The Society shall maintain fidelity bonds on the officers and employees and report on such bonds on a regular basis to the board or its designated committee.

**Amendments** 

**Section 34.** These bylaws may be repealed or

amended in whole or in part at any regular meeting of the board or any special meeting called for that purpose. Notice of the proposed change shall be mailed or personally delivered to directors at least 30 calendar days before the date of the meeting. Directors may waive their right to receive notice individually and the board, by unanimous vote of the full board, may suspend the requirement to give such notice. The number of votes required to repeal or amend these bylaws at a meeting of the board shall be an affirmative vote of a majority of the full board. These bylaws may also be repealed or amended in whole or in part at any time by written action signed by two-thirds of the directors then in office. Any changes to these bylaws shall be effective from the date of passage or at such other date as stipulated by the board and shall be filed promptly after adoption with the Commissioner of Insurance of the state of Wisconsin. After filing, the

![LOGO](g95392dsp008.jpg)

4321 N. Ballard Rd., Appleton, WI 54919-0001 <br> Thrivent.com 800-847-4836 3415 R8-25

## Ex-99.(G)(Xxiv)

**Reinsurance Agreement 100176** 

**This Automatic Self Administered YRT Reinsurance Agreement** 

Effective **January 1, 2025**

(hereinafter referred to as the "Agreement")

is made between

**Thrivent Financial for Lutherans** 

(hereinafter referred to as the "Company")

and

**Munich American Reassurance Company** 

Georgia

(hereinafter referred to as the "Reinsurer")

Treaty #100176 Execution Copy_7_16_2025 <br> Confidential (C3)

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**Table of Contents** 

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| | | |
|:---|:---|:---|
|  **Article 1** | **Article 1** | 4 |
| 1.1 | General | 4 |
| 1.2 | Scope of Coverage | 4 |
|  **Article 2** | **Article 2** | 5 |
| 2.1 | Automatic Reinsurance | 5 |
| 2.2 | Facultative Reinsurance | 6 |
|  **Article 3** | **Article 3** | 7 |
| 3.1 | Automatic Submissions | 7 |
| 3.2 | Facultative Submissions | 7 |
|  **Article 4** | **Article 4** | 8 |
| 4.1 | Commencement of Automatic Reinsurance Liability | 8 |
| 4.2 | Commencement of Facultative Reinsurance Liability | 8 |
| 4.3 | Conditional Receipt or Temporary Insurance Agreement Liability | 8 |
|  **Article 5** | **Article 5** | 9 |
| 5.1 | Premium Accounting | 9 |
| 5.2 | Currency | 9 |
| 5.3 | Non-Payment of Premiums | 9 |
|  **Article 6** | **Article 6** | 10 |
| 6.1 | Right of Offset | 10 |
|  **Article 7** | **Article 7** | 11 |
| 7.1 | Conversions | 11 |
| 7.2 | Policy Changes | 11 |
| 7.3 | Reductions | 12 |
| 7.4 | Lapses | 13 |
| 7.5 | Reinstatements | 13 |
| 7.6 | Reinsurance Limits | 13 |
|  **Article 8** | **Article 8** | 14 |
| 8.1 | Retention Limit Change | 14 |
| 8.2 | Rate Increases | 14 |
| 8.3 | Recapture | 14 |
|  **Article 9** | **Article 9** | 16 |
| 9.1 | Claims Notice and Consultation | 16 |
| 9.2 | Claim Proofs | 16 |
| 9.3 | Claims Payment | 17 |
| 9.4 | Claims Practices | 18 |
| 9.5 | Contested Claims | 18 |
| 9.6 | Claims Expenses | 19 |
| 9.7 | Extra Contractual Obligations | 19 |
| 9.8 | Misstatement of Age or Sex | 19 |

---

Treaty #100176 Execution Copy_7_16_2025 <br> Confidential (C3)

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| | | |
|:---|:---|:---|
|  **Article 10** | **Article 10** | 20 |
| 10.1 | Errors and Omissions in Administration of Reinsurance | 20 |
| 10.2 | Dispute Resolution | 20 |
| 10.3 | Arbitration | 20 |
|  **Article 11** | **Article 11** | 23 |
| 11.1 | Insolvency | 23 |
|  **Article 12** | **Article 12** | 25 |
| 12.1 | Premium Tax | 25 |
|  **Article 13** | **Article 13** | 26 |
| 13.1 | Entire Agreement | 26 |
| 13.2 | Inspection of Records | 26 |
| 13.3 | Utmost Good Faith | 27 |
| 13.4 | Confidentiality | 27 |
| 13.5 | Security | 30 |
| 13.6 | OFAC Compliance | 31 |
|  **Article 14** | **Article 14** | 33 |
| 14.1 | Representations and Warranties | 33 |
|  **Article 15** | **Article 15** | 34 |
| 15.1 | Material Changes | 34 |
|  **Article 16** | **Article 16** | 35 |
| 16.1 | Duration of Agreement | 35 |
| 16.2 | Severability | 35 |
| 16.3 | Construction | 35 |
| 16.4 | Credit for Reinsurance | 35 |
| 16.5 | Non-Waiver | 36 |
| 16.6 | Retrocession | 36 |
| 16.7 | Governing Law | 36 |
| 16.8 | Interest | 37 |
| 16.9 | No License of Name | 37 |
| 16.10 | Counterparts | 37 |

---

---

| | | |
|:---|:---|:---|
| **Execution** | **Execution** | 38 |
| **Exhibits** | **Exhibits** | 39 |
| A | Business Covered | 39 |
| A-1 | Business Guidelines | 41 |
| A-2 | Facultative Submissions | 42 |
| B | Reinsurance Application | 43 |
| C | General Terms | 44 |
| C-1 | Rates and Terms for Specific Plans | 45 |
| D | Company's Retention Limits | 60 |
| E | Automatic Acceptance Limits | 61 |
| F | Reinsurance Reports | 62 |

---

Treaty #100176 Execution Copy_7_16_2025 <br> Confidential (C3)

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**Article 1** 

1.1 **General** 

This Agreement is an indemnity reinsurance agreement solely between the Company and the Reinsurer. The acceptance of risks under this Agreement by the Reinsurer will create no right or legal relation between the Reinsurer and the insured, owner, beneficiary, or assignee of any insurance policy of the Company. The Reinsurer shall not be liable for any claims, suits or actions as a result of any misconduct, negligence, fraud or criminal activity of any kind committed by the Company or its representatives.

This Agreement will be binding upon the parties hereto and their respective successors and assigns including any rehabilitator, conservator, liquidator or statutory successor of either party. Neither the Company nor the Reinsurer may assign its rights, duties, and obligations under this Agreement to any other party without the prior written consent of the other party. Neither party may effect any novation of this Agreement without the other party's prior written consent.

Day or days, when used in this Agreement, will mean calendar days.

1.2 **Scope of Coverage** 

This Agreement applies to all directly issued insurance policies and supplemental benefits and riders listed in Exhibit A (hereinafter referred to as "policies" or "policy") and issued in a jurisdiction in which the Company is properly licensed. On and after the effective date of this Agreement, the Company will cede and the Reinsurer will accept its share of the benefits specified in Exhibit A in accordance with the terms of this Agreement. The policies accepted by the Reinsurer will be hereinafter referred to as "Reinsured Policies."

The Company may not reinsure the retained amounts specified in Exhibit D on any basis without the Reinsurer's prior written consent.

Treaty #100176 Confidential (C3) 4 Execution Copy_7_16_2025

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**Article 2** 

2.1 **Automatic Reinsurance** 

The Company will automatically cede and the Reinsurer will automatically accept its share of the Company's policies provided that,:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The Company has retained on each life the amount set out in Exhibit D according to the age and mortality rating
at the time of underwriting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The total of the new ultimate face amount of reinsurance requested and the amount already reinsured on that
life under this Agreement and all other life agreements between the Reinsurer and the Company, does not exceed the Automatic Binding Limit set out in Exhibit E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The total new ultimate face amount of insurance on that life in force and applied for with all companies,
including the Company, does not exceed the Jumbo Limit set out in Exhibit E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The application is on a life for which the current or any previous application had not been submitted by the
Company on a facultative basis to the Reinsurer or any other reinsurer within the last three years, unless the reason for the previous facultative submission was for exceeding the Automatic Binding Limit or exceeding the Jumbo Limit and no longer
applies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) The policy is not purchased as part of a premium financing program or third party investment program, unless
such programs have been approved in writing by the Reinsurer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) The Company applies its underwriting guidelines that are in effect at time of policy issuance. In the absence
of underwriting guidelines on any particular topic or condition or if the underwriting guidelines dictate that individual consideration is required, including but not limited to referrals to a medical doctor, the Company will make underwriting
decisions in good faith utilizing the care, skill and diligence with which a reasonably prudent underwriter would use in the same or similar circumstances.

For purposes of this Agreement, "ultimate face amount" will mean, to the best of the Company's knowledge, the projected maximum face amount at the time of underwriting, including any contractual increases, that could be reached based on reasonable assumptions made about the policy.

If the Company is already on the risk for its retention under previously issued policies, the Reinsurer will automatically accept reinsurance for newly issued policies according to the limits set out in Exhibit E, provided the Company has complied with the business guidelines specified in Exhibit A-1 (hereinafter the "Business Guidelines") that would have applied if the new policy had been fully retained by the Company.

Automatic reinsurance will be on a YRT basis using the YRT Rates for Full Underwriting or Accelerated Underwriting specified in Exhibit C-1.

Treaty #100176 Confidential (C3) 5 Execution Copy_7_16_2025

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2.2 **Facultative Reinsurance** 

Policies that do not qualify for automatic reinsurance hereunder may be submitted to the Reinsurer on a facultative basis. Additionally, policies that qualify for automatic reinsurance may be submitted to the Reinsurer for facultative consideration. If a policy that qualifies for automatic reinsurance is submitted to the Reinsurer or other reinsurers for facultative consideration, the policy will be treated as if proposed on a facultative basis.

Facultative reinsurance will be on a YRT basis using the YRT Rates for Full Underwriting specified in Exhibit C-1.

Treaty #100176 Confidential (C3) 6 Execution Copy_7_16_2025

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**Article 3** 

3.1 **Automatic Submissions** 

The Company will report Reinsured Policies ceded automatically to the Reinsurer according to the terms specified in Exhibit F.

Upon request, the Company will provide the Reinsurer copies of the application, underwriting papers and other information pertaining to any automatic cession under this Agreement.

3.2 **Facultative Submissions** 

Applications for reinsurance on a facultative basis will be made in accordance with Exhibit A-2. Unless the Reinsurer provides written consent to an extension, the Company will have the number of days specified in Exhibit A-2 from the date of the Reinsurer's final offer in which to place the policy with the insured/owner, after which the Reinsurer's offer will expire without further notice or obligation.

The terms of this Agreement will apply to each accepted facultative offer, unless the offer specifies different terms.

Treaty #100176 Confidential (C3) 7 Execution Copy_7_16_2025

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**Article 4** 

4.1 **Commencement of Automatic Reinsurance Liability** 

The Reinsurer's liability for any Reinsured Policy accepted automatically will begin simultaneously with the Company's contractual liability for that policy.

4.2 **Commencement of Facultative Reinsurance Liability** 

The Reinsurer's liability for facultative reinsurance will begin simultaneously with the Company's contractual liability if the Company has accepted, during the lifetime of the insured, the Reinsurer's offer of coverage. However, the Reinsurer will be bound to facultative policies that are placed with the Reinsurer by the Company in accordance with the Company's reasonably documented facultative acceptance procedures.

The Reinsurer will have no liability for any application submitted for facultative consideration if the Reinsurer declined facultative coverage or made an offer of coverage that was not accepted by the Company as required by the terms of this Agreement.

4.3 **Conditional Receipt or Temporary Insurance Agreement Liability** 

Automatic reinsurance coverage provided by the Reinsurer for the Company's conditional receipt or temporary insurance agreement will begin simultaneously with the Company's contractual liability and is limited to the Reinsurer's share, as shown in Exhibit A, of amounts accepted within the Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit E.

For facultative applications submitted to the Reinsurer, the Reinsurer's liability under a conditional receipt or a temporary insurance agreement will begin simultaneously with the Company's contractual liability if the Reinsurer has received notice from the Company that the Reinsurer's facultative offer has been accepted. The Reinsurer's liability is limited to its share, as shown in Exhibit A, of amounts accepted within the Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit E.

If the proposed insured dies prior to the completion of the underwriting process, the Reinsurer will continue underwriting the risk to determine if a facultative offer would have been made on the risk. If so, the Reinsurer will accept liability for the risk, subject to the limits specified in the paragraph above.

After a policy has been issued, no reinsurance benefits are payable under this pre-issue coverage provision.

Treaty #100176 Confidential (C3) 8 Execution Copy_7_16_2025

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**Article 5** 

5.1 **Premium Accounting** 

The Company will pay the Reinsurer premiums in accordance with the terms specified in Exhibit C-1.

The method and requirements for reporting and remitting premiums are specified in Exhibit F.

5.2 **Currency** 

All payments due under this Agreement will be made in U.S. Dollars.

5.3 **Non-Payment of Premiums** 

The payment of reinsurance premiums is a condition to the liability of the Reinsurer for reinsurance provided by this Agreement. In the event that undisputed reinsurance premiums are not paid within 60 days of the due date, the Reinsurer may terminate reinsurance for all Reinsured Policies having reinsurance premiums in arrears. If the Reinsurer elects to terminate any Reinsured Policies after such 60 day period, it will then give the Company at least 90 days' prior written notice of its intention to terminate such reinsurance. If all reinsurance premiums in arrears, including any which may become in arrears during such 90 day notice period, are not paid before the end of the notice period, the Reinsurer's obligations for those Reinsured Policies will be limited to obligations relating to events arising on or before the last date for which reinsurance premiums have been paid in full for each Reinsured Policy.

If reinsurance is terminated according to this Article, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

Terminated reinsurance may be reinstated, subject to approval by the Reinsurer, within 30 days of the date of termination, and upon payment of all reinsurance premiums in arrears including any interest accrued thereon. The Reinsurer will have no liability for any claims incurred between the date of termination and the date of the reinstatement of the reinsurance, including claims on Policies that were backdated prior to the date of termination. The Reinsurer's right to terminate reinsurance will not prejudice its right to collect premiums, and applicable interest as specified in Exhibit C, for the period reinsurance was in force, through and including the 90 day notice period.

The Company shall not intentionally fail to pay reinsurance premiums in order to force the Reinsurer to terminate this Agreement so that the Company may increase its Retention Limit or to reinsure the Policies with another reinsurer.

Treaty #100176 Confidential (C3) 9 Execution Copy_7_16_2025

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**Article 6** 

6.1 **Right of Offset** 

Any undisputed amounts due, by either of the parties to this Agreement, whether they arise out of this Agreement or out of any other reinsurance relationship between the parties, may be offset and only the balance will be allowed or paid. This right to offset is not diminished by the insolvency of either party. The intent of the parties is that offset and recoupment shall be permitted to the maximum extent allowed by law.

Treaty #100176 Confidential (C3) 10 Execution Copy_7_16_2025

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**Article 7** 

7.1 **Conversions** 

Subject to the provisions of this Section 7.1, Company shall retain all the risk resulting from the contractual term conversion of any coverage reinsured under this Agreement (other than contractual term conversions of facultative policies), with such converted policies being referred to herein as "Conversion Policies." For the avoidance of doubt, (i) Company shall cede all the risk resulting from the contractual term conversion of facultative policies to the Reinsurer for the term of this Agreement, without the option to submit Elections (as defined below); and (ii) Conversion Policies shall be considered Reinsured Policies for the purposes of this Agreement.

Notwithstanding, Company may elect to cede Conversion Policies at the time of conversion by providing the Reinsurer at least 60 days written notice of its intent to submit such risks ("an Election"). Conversely, if Company is then ceding Conversion Policies, it may make an Election to retain such risks upon providing at least 60 days written notice to the Reinsurer. Company is limited to one Election every two calendar years.

This Section 7.1 shall not apply retroactively to any Conversion Policies converted prior to the effective date of an Election and shall only apply to Conversion Policies on a prospective basis.

In the event any Conversion Policies are ceded to the Reinsurer (or retained by Company) under this Section 7.1, all eligible Conversion Policies must be ceded (or retained by Company) until the Company makes a subsequent Election.

For purposes of illustration, Company may make an Election by giving written notice on or prior to May 2, 2026, of its intent to cede Conversion Policies to Reinsurer effective July 1, 2026. Effective July 1, 2026, all Conversion Policies will be ceded to the Reinsurer; Conversion Policies that were retained by Company prior to July 1, 2026, shall remain retained by Company. If Company later decides to retain such Conversion Policies, the earliest it may do so is January 1, 2028, and in such event, it must provide written notice to the Reinsurer by November 2, 2027.

If a Reinsured Policy is converted according to the policy's terms and the applicable provisions of the Business Guidelines, the Company will notify the Reinsurer as specified in Exhibit F. The amount to be reinsured will be determined on the same basis as used for the original Reinsured Policy (excess of retention or quota share) but will not exceed the amount reinsured as of the date of conversion unless mutually agreed otherwise.

Reinsurance will be on a YRT basis using the YRT Rates for Conversions specified in the applicable Exhibit C-1. Premiums are based on the issue age, risk class, and duration of the original policy unless a risk class reconsideration has been applied.

7.2 **Policy Changes** 

"Policy changes" refers to the variety of actions that may be made to a policy after issue. These actions include, but are not limited to, replacements, exchanges, changes in plans, a change in the face amount of the policy or the addition of a covered rider. If there is a change affecting the reinsurance on a Reinsured Policy, the Company will inform the Reinsurer in the subsequent Transaction Report specified in Exhibit F.

Treaty #100176 Confidential (C3) 11 Execution Copy_7_16_2025

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Except as provided in this Article, whenever a Reinsured Policy is changed and the Company's underwriting guidelines do not require that full evidence of insurability be obtained, the terms of this Agreement will apply to the changed Reinsured Policy using point in scale rates, whether the change is made before or after any cancellation of this Agreement for new business. The suicide and contestability periods applicable to the original Reinsured Policy will apply to the reissued Reinsured Policy and the duration for premium payment will be measured from the effective date of the original Reinsured Policy.

Whenever a Reinsured Policy is changed and the Company's underwriting guidelines require that full evidence of insurability be obtained and the suicide and contestability periods will be based on the reissued policy date, unless otherwise required by applicable law, the terms of this Agreement will apply to the changed Reinsured Policy if the change is made before cancellation of this Agreement for new business. Such Reinsured Policy changes taking place after the Agreement is cancelled for new business will not be reinsured without the Reinsurer's prior written consent. Unless otherwise agreed, first year premium rates and allowances as specified in Exhibit C-1 will apply to the amount underwritten as well as for a non-contractual increase.

Policy changes to Reinsured Policies will be subject to the Reinsurer's prior written approval, if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The new ultimate face amount of the policy, including any contractual increases, would be in excess of the
Automatic Binding Limit in effect at the time of the change, as set out in Exhibit E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The new ultimate face amount of the policy, including any contractual increases, and the amount already in
force in all companies on the same life exceeds the Jumbo Limit stated in Exhibit E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The policy was reinsured on a facultative basis, unless the policy change is only a reduction in death benefit
amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Evidence of insurability is not obtained if required in the Company's underwriting guidelines; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) If the change includes a policy with features such as, but not limited to, riders or options that are different
from the original policy.

7.3 **Reductions** 

Unless specified otherwise in this Agreement, if the amount of a Reinsured Policy issued by the Company is reduced, then the amount of reinsurance on that Reinsured Policy will be reduced effective the same date by the same proportion as the reduction under the original Reinsured Policy.

If the reinsurance for a Reinsured Policy has been placed with more than one reinsurer, the reduction will be applied to all reinsurers pro rata to the amounts originally reinsured with each reinsurer.

Treaty #100176 Confidential (C3) 12 Execution Copy_7_16_2025

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The Company's retention shall only be calculated upon a policy's issue date. A subsequent reduction to one of the Company's policies (whether reinsured or not reinsured hereunder) will not require the Company to recalculate and/or maintain its required retention as specified in Exhibit D of this Agreement.

In the event of the reduction of a policy or policies reinsured under this Agreement, the Reinsurer will refund any unearned reinsurance premiums. The reinsured portion of any policy fee will be deemed earned for the entire policy year if the policy was reinsured during any portion of that policy year.

7.4 **Lapses** 

When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date.

If a policy issued by the Company lapses and reduced paid-up insurance is elected under the terms of that policy, the amount of the corresponding reinsurance on the Reinsured Policy will be reduced according to the terms of Article 7.3.

If the Company allows the policy to remain in force under its automatic premium loan regulations, the corresponding reinsurance on the Reinsured Policy will continue unchanged and in force as long as such regulations remain in effect, except as otherwise provided in this Agreement.

7.5 **Reinstatements** 

If a policy reinsured on an automatic basis is reinstated according to its terms and the Company's reinstatement rules, the Reinsurer will, automatically reinstate the reinsurance. The Reinsurer's approval is required for the reinstatement of reinsurance on a facultative policy if the Company's regular reinstatement rules indicate that evidence of insurability, in addition to a statement of good health, is required.

To the extent the Reinsured Policy requires payment of premiums in arrears, the Company will pay all reinsurance premiums in arrears on reinstated policies and such premiums will be subject to Article 16.8 and Exhibit F.

7.6 **Reinsurance Limits** 

The Company will not submit a policy to the Reinsurer unless the amount of reinsurance on the policy equals or exceeds the Minimum Initial Reinsurance Limit ceded to the Reinsurer as specified in Exhibit C.

Treaty #100176 Confidential (C3) 13 Execution Copy_7_16_2025

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**Article 8** 

8.1 **Retention Limit Change** 

The Company may change its retention limit (hereinafter "Retention Limit", defined as the Company's maximum retention limits on any single life on a corporate level) at any time by providing the Reinsurer with written notice of the new Retention Limit at least 30 days prior to the effective date. Changes to the Company's Retention Limits in Exhibit D will not affect the Reinsured Policies in force at the time of such a change except as specifically provided for elsewhere in this agreement and will not affect the Automatic Binding Limit or Jumbo Limit in Exhibit E unless mutually agreed in writing by the Company and the Reinsurer.

If the Company decreases its Retention Limit, no reinsurance may be ceded on an automatic basis until the parties have reviewed and either expressly affirmed or revised the terms specified in the applicable Exhibit and the Automatic Binding Limit set out in Exhibit E.

8.2 **Rate Increases** 

The reinsurance rates as set out in Exhibit C-1 are guaranteed for one policy year. The Reinsurer reserves the right to increase the rates for reinsurance but not to exceed the valuation net premiums for YRT insurance calculated using the minimum statutory mortality rates and the maximum statutory interest rate for each year of issue. The Reinsurer will inform the Company of a rate increase at least 90 days before it takes effect. The percentage rate increase will apply to each policy on the policy anniversary date following the effective date of the increase.

If the Company raises its retail premiums or cost of insurance charges on any in force business reinsured under this Agreement, it shall provide the Reinsurer with 30 days prior written notice of the increase. The Reinsurer reserves the right to increase rates on such business by a corresponding amount. Any such increase in reinsurance rates shall become effective on the same date that the Company's increase in retail premiums or cost of insurance charges becomes effective.

8.3 **Recapture** 

The Company may recapture if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company increases its Retention Limit to reduce the amount of in force reinsurance ceded on an automatic
basis provided, however, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) No recapture is made until the Reinsured Policy has been in force through the end of the level premium period.
For a conversion, the recapture terms of the original policy will apply and the duration for the recapture period will be measured from the effective date of the original policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Recapture will be effected on the next anniversary of each Reinsured Policy eligible for recapture unless
agreed otherwise by both parties; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The Company gives the Reinsurer 30 days written notice of its intention to recapture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The Company has maintained, from the time the policy was issued, its quota share retention as set out in
Exhibit D.

The amount of reinsurance eligible for recapture will be the difference between the amount originally retained and the amount the Company would have retained on the same quota share basis had the new retention been in effect at the time of issue. If there is reinsurance with other reinsurers on risks eligible for recapture, the reduction will be applied pro rata to the total outstanding reinsurance. In applying its increased Retention Limit to Reinsured Policies, the age and mortality rating at the time of issue will be used to determine the amount of the Company's increased retention.

Recapture is optional, but if any reinsured business is recaptured, all business eligible must be recaptured in a consistent manner.

The parties' obligations for any recaptured business will be limited to those relating to events or circumstances arising or occurring before the recapture date. If a cession eligible for recapture has been overlooked by the Company, the liability of the Reinsurer will be limited to the refund of the amount of premiums accepted by the Reinsurer after the date of recapture, less allowances or claims paid, if any.

No recapture will be permitted if the Company has either obtained or increased stop loss reinsurance coverage as justification for the increase in its Retention Limit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Reinsurer does one of the following, regardless of the Reinsured Policies' duration in force:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Increases its reinsurance premium rates on any block of in force business under this agreement on which the
Company has not raised its retail premiums or cost of insurance charges; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Increases its reinsurance premium rates on any block of in force business by an amount greater than the
corresponding increase made by the Company to its retail premiums or cost of insurance charges.

If the Company elects to recapture, it must notify the Reinsurer of its intention to do so before the rate increase takes effect. The recapture will be effective on the next anniversary of each Reinsured Policy eligible for recapture unless agreed otherwise by both parties. Upon recapture pursuant to this provision, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

The Company shall not be liable for a fee to recapture reinsurance. Recapture will be effected by way of the Company not remitting applicable premiums.

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**Article 9** 

9.1 **Claims Notice and Consultation** 

The Company is responsible for the settlement of claims in accordance with applicable law and policy terms. It is the Company's sole decision to determine whether a claim is payable under the policy. The Reinsurer agrees to accept the determination of the Company based on the Company's standard claims practices and subject to the terms of this Agreement. For purposes of this Article, Reinsured Policies include conditional receipts and temporary insurance agreements covered under the terms of this Agreement. It is a condition to the Reinsurer's obligation to pay a claim that the Company notify the Reinsurer in writing as soon as possible.

The Company may request a recommendation from the Reinsurer on any claim on a Reinsured Policy.

9.2 **Claim Proofs** 

The parties agree to apply the Reinsurer's Document Reduction Program (DRP) to claims which fall under the terms of this Agreement and meet the criteria described below.

The Company will provide the Reinsurer with the following documentation of the claim as specified below, if the face amount of the claim is greater than $1,000,000:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Copies of claimant statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. A copy of the death certificate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Proof of claim payments

The DRP will not apply to the following claims:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Claims where the death of the insured occurred outside of the United States, Canada, Puerto Rico, or Guam; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Claims where the face amount of the claim exceeds $1,000,000; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Claims where an accidental death payment is payable; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Claims for accelerated death benefits; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Claims where fraud is identified; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Claims in litigation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Claims where an exception to standard claims practices is made.

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The Reinsurer will continue to receive all data elements currently required and received through the Company's TAI system for reinsured claims under the DRP. The data elements required for each claim will include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Insured's Name,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Policy Number,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Issue Date,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Policy Duration,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Face Amount,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Net Amount at Risk,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Post Mortem Interest to be paid on the claim (including from and to dates and interest rate used),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h) Investigation and other expenses to be paid on claim,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) Legal expenses to be paid on claim,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) Date of Birth,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k) Gender,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l) Date of Death,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m) Cause of Death (if available),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n) Location of Loss

The Reinsurer reserves the right to request additional documentation at any time from the Company for any claim. The Company agrees that it will continue to obtain the usual proof of death on all claims.

The Reinsurer has the right to audit the Company's claims paying practices and procedures on claims that fall within the DRP criteria outlined above.

9.3 **Claims Payment** 

The Reinsurer will be liable to the Company for its share of the benefits owed under the express contractual terms of the Reinsured Policies and as specified under the terms of this Agreement. The Reinsurer will not participate in any ex gratia payments made by the Company (i.e., payments the Company is not required to make under the Reinsured Policy terms.) The payment of death benefits by the Reinsurer will be in one lump sum regardless of the mode of settlement under the Reinsured Policy. Benefit payments from the Reinsurer will be due within 30 days of the claim satisfying the requirements established under this Agreement. The Reinsurer's share of any interest payable under the terms of a Reinsured Policy or applicable law which is based on the death benefits paid by the Company, will be payable provided that the Reinsurer will not be liable for interest accruing on or after the date of the Company's payment of benefits nor for interest paid on premium refunds, policy dividends, or any other component other than the death benefit. Post Mortem Interest payment is limited to reasonable and based on state regulations or contractual wording, as applicable. The Reinsurer's share will be based upon the net amount at risk at the time of death and at the same interest rate and days used by the Company to calculate their interest paid.

The Reinsurer will make payment to the Company for each such claim.

For claims on Accelerated Benefit riders reinsured under this Agreement, the benefit amount payable by the Reinsurer will be calculated by multiplying the total accelerated death benefit rider payout by the ratio of the reinsured Net Amount at Risk, as defined in Exhibit C-1, to the face amount of the Reinsured Policy.

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9.4 **Claims Practices** 

It is the Company's sole decision to determine whether to investigate, contest, compromise or litigate a claim; however, the Company is responsible for investigating, contesting, compromising or litigating Reinsured Policy claims in accordance with applicable law and policy terms.

The Reinsurer shall not be liable for any Claim Exception made by the Company related to any Policy reinsured under this Agreement. A "Claim Exception" is a decision made by the Company to deny or pay a claim that is (i) inconsistent or contrary to the terms of the applicable Policy, (ii) contrary to the Company's Claims Procedures, (iii) inconsistent with applicable law, or (iv) made solely to alleviate or reduce the Company's risk of exposure as a result of negligence or misconduct by it or its Representatives.

The Company acknowledges that it obtains certified death certificates for death claims that are over $500,000 and obtains a copy of the non-certified death certificate for death claims of $500,000 or less.

9.5 **Litigated Claims** 

The Company will notify the Reinsurer promptly of its intention to investigate, contest, compromise, or litigate any claim involving a Reinsured Policy (hereinafter a "Litigated Claim"). If the Reinsurer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Does not support the contest of the Litigated Claim, the Reinsurer will pay the Company its full share of the
reinsurance benefit, and will not share in any subsequent reduction or increase in liability or in any subsequent expenses incurred by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Supports the Company's decision to contest the Litigated Claim and the Litigated Claim results in a
reduction or increase in liability, the Reinsurer will share in any reduction or increase in proportion to its share of the risk on the Litigated Claim.

If the Reinsurer supports the decision to contest the claim, the Company will promptly advise the Reinsurer of all significant developments, including notice of legal proceedings (including, but not limited to, consumer complaints or actions by governmental authorities) initiated in connection with the Litigated Claim.

If the Reinsurer discovers information that causes the Reinsurer to disagree with the Company's course of action with respect to a litigated claim, then the Reinsurer may opt out of the litigation, pay its full share of the reinsurance benefit plus its proportionate share of Statutory Interest and Litigation Expenses incurred as of the opt out date, and incur no further liability related to the claim including, but not limited to, any liability for any further Litigation Expenses.

In no event shall the Reinsurer reimburse the Company for any Statutory Penalties, Compensatory Damages or Punitive Damages.

If the Company returns premiums to the policy owner or beneficiary as a result of rescinding a policy or payment of the limited suicide benefit, the Reinsurer will refund net reinsurance premiums received on that policy to the Company.

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9.6 **Claims Expenses** 

The Reinsurer will pay its share of reasonable investigation and legal expenses incurred in investigating, adjudicating or litigating a claim, except as otherwise provided in Section 9.7.

9.7 **Extra Contractual Obligations** 

For purposes of this Agreement, "Extra Contractual Obligations" are any obligations or expenses other than contractual obligations incurred by the Company, its affiliates, directors, officers, employees, agents or other representatives and arising under the express written terms and conditions of a policy, including but not limited to, punitive damages, bad faith damages, compensatory damages, and other damages or fines or penalties which may arise from the acts, errors or omissions of the Company or its affiliates, directors, officers, employees, agents or other representatives.

The Reinsurer is not liable for Extra Contractual Obligations associated with a contested claim unless it concurred in writing and in advance with the claim actions which were the basis for the Extra Contractual Obligations. In these situations, the Company and the Reinsurer will share in Extra Contractual Obligations, in equitable proportions, but all factors being equal, the Reinsurer's assessments would be in proportion to the risk accepted for the Reinsured Policy involved.

The Reinsurer will not be liable for any Extra Contractual Obligations resulting from the Company's failure to implement the agreed upon course of action, such as the filing of timely pleadings or meeting court or statutory deadlines, etc.

9.8 **Misstatement of Age or Sex** 

In the event of a change in the amount payable under a Reinsured Policy due to a misstatement in age or sex, the Reinsurer's liability will change proportionately. The Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and amounts at risk for the correct ages and sex, and the proper adjustment for the difference in reinsurance premiums, without interest, will be made.

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**Article 10** 

10.1 **Errors and Omissions in Administration of Reinsurance** 

Any unintentional or accidental failure to comply with the terms of this Agreement which can be shown to be the result of a clerical error or oversight relating to the administration of reinsurance by either party will not constitute a breach of this Agreement. Upon discovery, the error will be promptly corrected so that both parties are restored to the position they would have occupied had the clerical error or oversight not occurred. In the event a payment is corrected, the party receiving the payment may charge interest, calculated according to the terms specified in Exhibit C. Should it not be possible to restore both parties to this position, the party responsible for the clerical error or oversight will be responsible for any resulting liabilities and expenses.

If the Company has failed to cede reinsurance as provided under this Agreement or has failed to comply with reporting requirements with respect to business ceded hereunder, the Reinsurer may require the Company to audit its records for similar errors and take reasonable actions necessary to correct errors and avoid similar errors.

10.2 **Dispute Resolution** 

As a condition to the parties' right to arbitration under this Agreement, either the Company or the Reinsurer will give written notification to the other party of any dispute relating to or arising from this Agreement, including, but not limited to, the formation or breach thereof. Within 30 days of notification, both parties must designate an officer of their respective companies to attempt to resolve the dispute. The officers will meet at a mutually agreeable location as soon as possible and as often as necessary to attempt to negotiate a resolution of the dispute. The format for discussions will be determined mutually by the officers.

If these officers are unable to resolve the dispute within 30 days of their first meeting, the parties may agree in writing to extend the negotiation period for an additional 30 days. If the matter is not resolved within 30 days of the first meeting or the additional 30 day period, if any, then either party may demand arbitration pursuant to Article 10.3. The discussions and all information exchanged for the purposes of such discussions will be confidential and without prejudice.

10.3 **Arbitration** 

If the Company and the Reinsurer are unable to resolve any dispute arising from this Agreement, including but not limited to the formation or breach thereof, pursuant to Article 10.2, the matter will be referred to arbitration.

The arbitration will be held in Minneapolis, Minnesota, or another place as the parties may mutually agree, and the Governing Law specified in Article 16.7 shall govern the arbitration panel's interpretation and application of this Agreement; provided, however, that the arbitration panel shall be permitted to consider the customs and practices of the life insurance and reinsurance industry in the interpretation of this Agreement. Except as set forth in this Section 10.3. the arbitration will be conducted in accordance with the ARIAS U.S. Rules for the Resolution of U.S. Insurance and Reinsurance Disputes.

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Unless the parties agree otherwise, all disputes shall be submitted to an arbitration panel composed of two arbitrators and an umpire chosen in accordance with the procedures set forth below.

The members of the arbitration panel shall be disinterested persons who are current or former officers of life insurance or reinsurance companies, other than the parties to this Agreement, their affiliates or subsidiaries.

The party requesting arbitration (hereinafter referred to as the "claimant") shall appoint an arbitrator and give written notice thereof by certified mail or by a courier service producing evidence of receipt by the receiving party, to the other party (hereinafter referred to as the "respondent") together with its notice of arbitration setting forth the nature of the dispute. Within 60 days after receiving such notice, the respondent shall also appoint an arbitrator and notify the claimant thereof by certified mail or by a courier service producing evidence of receipt by the receiving party. If the respondent fails to appoint an arbitrator within 60 days after receiving a notice of intention to arbitrate, the claimant's arbitrator shall appoint an arbitrator on behalf of the respondent.

Before instituting a hearing, the two arbitrators so appointed shall choose an umpire. If the arbitrators fail to agree on the appointment of an umpire, the umpire shall be selected pursuant to the ARIAS U.S. Umpire Selection Procedures in effect at the date of the arbitration demand.

Within 30 days after the appointment of the arbitrators, the panel shall schedule an organizational meeting, and determine a timely period for discovery, discovery procedures and schedules for hearings. The panel shall have the power to fix all procedural rules relating to the arbitration proceeding.

The Panel will award the remedy sought by the party seeking relief to the extent the remedy is provided for in this Agreement or otherwise reasonably compensates the damaged party for the economic effect of any demonstrated breach. Such remedies may include, but will not be limited to, monetary damages, revisions to the terms of the Agreement, including adjustments to premiums or allowances paid or to be paid, or any combination of the foregoing. In no event shall the Panel have the authority to award punitive or exemplary damages.

The Panel shall issue an order, appropriate for confirmation in a court of competent jurisdiction, to resolve all matters in dispute. In addition, the Panel shall issue a written opinion setting forth the reasons for the award, with citations to the record of the hearing that support the reasoning.

The decision of the Panel will be final and binding upon the parties and their respective successors and assigns. Each party hereby consents to the entry of a judgment confirming or enforcing the award in the United States District Court for the District of Minnesota and/or in any other court of competent jurisdiction.

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Within 20 days after the transmittal of an award, either party, upon notice to the other party, may request the Panel to correct any clerical, typographical, or computational errors in the award. The other party will be given ten days to respond to the request. The Panel will dispose of the request within 20 days of its receipt of such request and any response thereto. The Panel will not be empowered to re-determine the merits of any claim already decided.

Each party will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Bear its own fees and expenses in connection with the arbitration, including the fees of any outside counsel,
its party appointed arbitrator and witness fees, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Share equally in the fees of the umpire and the costs of the arbitration, such as hearing rooms, court
reporters, etc.

It is the intent of the parties that these arbitration provisions replace and be in lieu of any statutory arbitration provision, if permitted by law.

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**Article 11** 

11.1 **Insolvency** 

A party to this Agreement will be deemed "insolvent" when it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory
successor (hereinafter referred to as the "Authorized Representative") of its properties or assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Is adjudicated as bankrupt or insolvent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Files or consents to the filing of a petition in bankruptcy, seeks reorganization or an arrangement with
creditors or takes advantage of any bankruptcy, dissolution, liquidation, rehabilitation, conservation or similar law or statute; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Becomes the subject of an order to rehabilitate or an order to liquidate as defined by the insurance code of
the jurisdiction of the party's domicile.

In the event of the insolvency of the Company, all reinsurance ceded, renewed or otherwise becoming effective under this Agreement will be payable by the Reinsurer directly to the Company or to its Authorized Representative on the basis of the liability of the Company for benefits under the Reinsured Policies without diminution because of the insolvency of the Company.

The Reinsurer will be liable only for benefits reinsured as benefits become due under the terms of the Reinsured Policies and will not be or become liable for any amounts or reserves to be held by the Company as to the Reinsured Policies or for any damages or payments resulting from the termination or restructure of the Policies that are not otherwise expressly covered by this Agreement. The Company or its Authorized Representative will give written notice to the Reinsurer of all pending claims against the Company on any Reinsured Policies within a reasonable time after filing in the insolvency proceedings. While a claim is pending, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceedings where the claim is to be adjudicated, any defense or defenses which it may deem available to the Company or its Authorized Representative.

The expense incurred by the Reinsurer will be chargeable, subject to court approval, against the Company as part of the expense of its insolvency proceedings to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer. Where two or more reinsurers are involved in the same claim and a majority in interest elect to interpose a defense to such claim, the expense will be apportioned in accordance with the terms of the Agreement as though such expense had been incurred by the Company.

In the event of the insolvency of the Reinsurer, the Company may cancel this Agreement for new business by promptly providing the Reinsurer or its Authorized Representative with written notice of cancellation, to be effective as of the date on which the Reinsurer's insolvency is established by the authority responsible for such determination. Any requirement for a notification period prior to the cancellation of the Agreement would not apply under such circumstances.

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In addition, in the event of the insolvency of the Reinsurer, the Company may provide the Reinsurer or its Authorized Representative with written notice of its intent to recapture all reinsurance in force under this Agreement regardless of the duration the reinsurance has been in force or the amount retained by the Company on the Reinsured Policies. The effective date of a recapture due to insolvency will be at the election of the Company and at any date after the insolvency (as defined above) of the Reinsurer. If the Company elects to recapture reinsurance under this Article, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

In the event of the insolvency of either party, the rights or remedies of this Agreement will remain in full force and effect.

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**Article 12** 

12.1 **Premium Tax** 

The Reinsurer will not reimburse the Company for premium taxes.

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**Article 13** 

13.1 **Entire Agreement** 

This Agreement and the Exhibits hereto constitute the entire agreement between the parties with respect to the business reinsured hereunder and supersede any and all oral or written prior or contemporaneous representations, warranties, statements of intent, courses of dealing, agreements or understandings between the parties pertaining to the subject matter of this Agreement, including the Reinsurer's right to increase rates as set forth in this Agreement and the Exhibits ("Understandings"). There are no Understandings between the parties other than as expressed in this Agreement and the Exhibits hereto. In the event of any express conflict between the Agreement and the Exhibits hereto, the Exhibits hereto will control.

Any change or modification to this Agreement and the Exhibits hereto will be null and void unless made by written amendment and signed by both parties.

13.2 **Inspection of Records** 

The Reinsurer, or its duly authorized representatives, shall have the right, for as long as liabilities remain outstanding under this Agreement, to inspect all books, electronic files, original papers, records, and documents related to the Policies reinsured under this Agreement at either the office of the Company or through secure remote access. The Reinsurer shall determine the frequency of such inspections and the number of claims or files for its review. If the Reinsurer inspects the records at the offices of the Company, the Company shall provide a reasonable workspace for the inspection and access to such records during regular business hours. Whether the inspection is conducted at the offices of the Company or remotely, the Company shall cooperate with and facilitate the inspection, and upon the request of the Reinsurer, shall make available to the Reinsurer such officers and employees of the Company as the Reinsurer may reasonably request to provide information concerning the reinsured business and the records inspected. The Reinsurer's right to inspect records includes access to records controlled or provided by third parties.

The Reinsurer or its duly appointed representatives will have access to records of the Company, whether written or electronic, concerning the business reinsured hereunder for the purpose of inspecting, auditing and photocopying those records. The Reinsurer's inspection, audit or photocopying of records will be limited to records related to the business reinsured under this Agreement, including but not limited to, underwriting, claims and administration and will not apply: (1) to records related to the reinsurance bidding process for this Agreement; (2) to privileged information; or (3) during the pendency of any related arbitration.

Company or its duly appointed representatives will have access to records of the Reinsurer, whether written or electronic, concerning the business reinsured hereunder for the purpose of inspecting, auditing and photocopying those records. The Company's inspection or auditing of records will be limited to records related to adherence to privacy and data security standards of this Agreement.

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Such access will be provided at the office of the party being inspected and will be during reasonable business hours. Subject to the limitations set forth above, assuming the party inspecting records has continued to perform its undisputed portion of its obligations under this Agreement, the party being inspected may not withhold access to information and records on the grounds that the inspecting party is in breach.

The right of access as specified above will survive until all of the obligations under this Agreement have terminated or been fully discharged.

13.3 **Utmost Good Faith** 

All matters with respect to this Agreement require the utmost good faith of each of the parties.

13.4 **Confidentiality** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As used herein, "Company Trade Secret Information" means any information or compilation of
information possessed by the Company, its affiliates or subsidiaries, which derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can
obtain economic value from its disclosure or use. Without limiting the generality of the foregoing, "Company Trade Secret Information" includes but is not limited to: (i) all information concerning member, client and prospect
programs; (ii) information concerning Company's existing business, business systems, business and marketing plans and information systems; (iii) information concerning the Company contained in the Company's databases;
(iv) details of the Company's reinsurance program; (v) all "nonpublic personal information" (as hereinafter defined) about the Company's executives, officers, Board of Directors, employees, agents or subcontractors;
(vi) all information protected by rights embodied in copyrights, whether registered or unregistered (including all derivative works), patents or pending patent applications, and any other intellectual property rights of the Company; and
(vii) any attorney-client work-product privileged information; *provided, however,* that this Section 13.4(a) shall not apply to information which is: (i) in the public domain through no fault of the Reinsurer; (ii) already known
to the Reinsurer without obligations of confidentiality prior to its receipt from Company; (iii) developed independently by the Reinsurer without use of Confidential Information received from Company; or (iv) received from a third party without
similar restriction and without breach of this or a similar agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As used herein, "Customer Information" means all information possessed by the Company, in whatever
form, whether or not identified as such, pertaining to its members, clients, customers and other individuals seeking to obtain products, services or benefits from the Company, including information concerning or related to proposed, current and
former policy owners, insureds, applicants and beneficiaries of policies issued by the Company. Customer Information includes, but is not limited to: (i) all information contained in the Company's member, client and customer lists;
(ii) all information specifically designated as being personal or confidential; and (iii) all "nonpublic personal information," as that term is defined in Title V of the federal Financial Services Modernization Act of 1999 as
amended, and

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all "personal information," as that term is defined in the California Consumer Privacy Act of 2018 as amended, or as such terms (or similar terms) are defined by any other foreign (as applicable), federal or state law; *provided, however,* that this Section 13.4(b) shall not apply to information that is in the public domain through no fault of the Reinsurer (information that is in the public domain shall mean information that is lawfully made available from federal, state, or local governmental records).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As used herein, "Company Trade Secret Information" and "Customer Information" shall be
defined collectively as "Confidential Information".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Reinsurer acknowledges that the use, privacy and security of Confidential Information is regulated by
various foreign, federal, state and local laws, rules, regulations, and self-regulatory frameworks (collectively, "Applicable Laws"). With respect to Confidential Information, the Reinsurer warrants and represents that it shall comply
with any such Applicable Laws regarding the use, privacy and security of such Confidential Information. If a charge of non-compliance by the Reinsurer occurs with respect to any Applicable Laws, or if the Reinsurer determines that it can no longer
meet its obligations under Applicable Laws, the Reinsurer shall promptly notify Company of such charges/determination in writing and promptly remediate the event, action and circumstances giving rise to such charge/determination. The Reinsurer will
maintain all of the Company's Confidential Information in strict confidence, and will not at any time or for any reason disclose any Confidential Information to any non-permissible third party without the prior written consent of Company, and
even then, the Reinsurer shall limit access to and disclosure of such Confidential Information to such third party's employees and consultants on a "need to know" basis only, which basis is only that which is required for the
performance of the Reinsurer's obligations hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Reinsurer will not use any of the Company's Confidential Information for any purpose whatsoever
except for the purposes necessary to fulfill its obligations as set forth under this Agreement or as otherwise permitted by this Agreement. Reinsurer may use Company's Confidential Information for purposes of risk analysis and risk management.
The Reinsurer agrees to ensure, by agreement, instruction or otherwise, compliance with the same restrictions and conditions that apply throughout this Agreement by its employees, agents, consultants, and others who are permitted access to or use of
Confidential Information; where the Reinsurer permits a subcontractor to access or use the Confidential Information, the Reinsurer agrees to ensure by written agreement the subcontractor's compliance with the same restrictions and conditions
that apply throughout this Agreement. All Company Confidential Information shall remain the sole and exclusive property of the Company. No right, title or interest in the Confidential Information shall be conveyed by release of the Confidential
Information. No Company Confidential Information shall be sold, assigned, leased or otherwise disposed of to third parties by the Reinsurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Reinsurer shall implement appropriate safeguards to ensure the security and protect against unauthorized
access to or use of Company's Confidential Information. The Reinsurer shall implement and comply with all appropriate and reasonable administrative, physical, and technical safeguards as required by Applicable Laws that protect the
confidentiality, integrity, and availability of Confidential Information that it stores, creates, receives, uses, maintains or transmits on behalf of Company. The Reinsurer shall ensure by agreement and practice that any employee, agent,
subcontractor, consultant or any others who are permitted access to Company's Confidential Information agrees to implement reasonable and appropriate safeguards to protect it that are at least as stringent and comprehensive as those set forth
in this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) At the request of Company, the Reinsurer will provide to Company documentation (i) describing the safeguards
the Reinsurer has implemented to protect the confidentiality, integrity, and availability of Confidential Information, and (ii) verifying that the use of Company's Confidential Information complies with this Agreement and all Applicable
Laws; Company may request information regarding these safeguards from the Reinsurer. In the event Company, the Reinsurer, or an independent third-party identifies one or more material vulnerabilities ("Vulnerabilities") in the
Reinsurer's safeguards, the Reinsurer shall (at its sole cost and expense) take reasonable steps to remediate the identified Vulnerabilities; the Reinsurer shall provide Company with contemporaneous updates relating to the corrective actions
being taken to remediate the Vulnerabilities, and shall provide, at Company's request, and at no additional cost to Company, a written attestation that such Vulnerabilities have been satisfactorily remediated. If the Reinsurer is required by
law (i.e., a civil, criminal, or regulatory inquiry, investigation, subpoena, or summons by foreign, federal, state, or local authorities) to disclose any Confidential Information, the Reinsurer shall, if legally permitted, notify Company
immediately and shall cooperate with Company, at Company's expense, in responding to the request, which could include seeking a reasonable protective order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Reinsurer agrees to return (or if specifically requested to do so by Company, destroy and provide proof of
destruction) the Confidential Information or any part thereof upon request of Company, subject to any retention obligations contained elsewhere in this Agreement, and upon expiration of the retention periods established by Reinsurer's record
retention policies and the Reinsurer's determination that it no longer has a need for such Confidential Information. The Reinsurer shall implement and follow secure disposal procedures in accordance with any and all Applicable Laws. The
Reinsurer may maintain additional limited copies of any Confidential Information for the limited purposes of backup and disaster recovery; however, all protections under this Agreement will be extended to such Confidential Information, and further
use and disclosure may only be permitted for backup and disaster recovery purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Reinsurer agrees to promptly notify the Company (but in no event more than forty-eight (48) hours
after the occurrence) if it becomes aware of or discovers, or reasonably suspects, any use or disclosure of the Confidential Information that is not authorized by this Agreement. Notification to the Company shall be communicated to the designated
Company contact by telephone (920-628-2359) and subsequently via written letter (Attn: Privacy Office) and email (<u>privacy@thrivent.com</u>), and shall include all information available to allow the Company to provide or delegate notification of
breach consistent with applicable foreign, federal and state law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Reinsurer further acknowledges and agrees that unauthorized disclosure, dissemination or use of the
Company's Confidential Information without the Company's prior written consent, or that is not otherwise permitted under this Agreement, may constitute a serious violation of Applicable Laws, as well as a breach of this Agreement, and
may subject the Company to claims and damages, including attorney's fees, for which the Reinsurer hereby agrees to be responsible and will indemnify the Company with regard to a breach of the Company's Confidential Information. In
addition, the Reinsurer agrees to be responsible and reimburse the Company for all costs related to providing notice to customers and individuals affected, identity theft protection, and any and all claims, fines, and damages related to the breach.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Reinsurer agrees that if there is a breach or threatened breach of the provisions of this Article, the
Company will not have an adequate remedy in money or damages and will be entitled to injunctive relief and/or specific performance; provided, however, no specification in this Article of any particular remedy shall be construed as a waiver or
prohibition of any other remedies in the event of a breach or threatened breach of this Agreement. In the event that the Company determines that the Reinsurer has breached any material provision of this Agreement that applies to Confidential
Information, the Company shall notify the Reinsurer and the Reinsurer shall, provided the breach is subject to cure, satisfactorily address any such breach within ninety (90) days. If the Company determines, in its sole reasonable discretion,
that the Reinsurer has failed to remediate such breach within the ninety (90) day period, the Company has the right to terminate this Agreement. Notwithstanding this, the Company may not unreasonably fail to recognize a cured breach in an
effort to terminate this Agreement.

13.5 **Security** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Security of Confidential Information. The Reinsurer shall, and shall ensure that its personnel and third-party
contractors, safeguard and prevent the unauthorized disclosure of the Company's Confidential Information as defined in and in accordance with this Agreement and Section 13.4, Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Regulatory Compliance. The Reinsurer shall, and shall ensure that its personnel and third-party contractors,
(i) comply with applicable federal, state and local laws, rules, and regulations relating to the privacy, confidentiality, protection, retention, continuity, availability, and security of the Company's Confidential Information, and (ii)
only access and use the Company's Confidential Information as necessary to fulfill its obligations as set forth under this Agreement or as otherwise permitted by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) NIST Compliance. The Reinsurer agrees that all systems and technologies of the Reinsurer, the Reinsurer
personnel, and third-party contractors which store, access, transmit, create, receive or maintain the Company's Confidential Information conform to the relevant standards of the most recent NIST Cyber-Security Framework's standards and
controls (<u>http://www.nist.gov/cyberframework</u>) or other relevant industry standards that provide a similar level of security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Incident Notification. The Reinsurer shall promptly (but in no event more than forty-eight (48) hours
after becoming aware of or discovering or reasonably suspecting) notify the Company of any use or disclosure of the Company's Confidential Information that is not authorized by this Agreement. Notification shall be communicated to the
designated the Company contact by telephone (920-628-2359), and subsequently via written letter (Attn: Privacy Office) and email (privacy@thrivent.com), and shall include the approximate date and time of the occurrence and a summary of relevant
facts, including a description of the impacted data and the measures being taken to address the occurrence.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Verification of Breach Resolution. The Reinsurer shall provide contemporaneous updates relating to the
corrective actions being taken to resolve any such data breach, in addition to mitigating action to prevent future similar data breaches from occurring. If the parties reasonably and mutually agree in good faith that it is appropriate, the Company
may request, and the Reinsurer shall provide at no additional cost to the Company, a third-party verification of such breach resolution before resuming or conducting future business with the Reinsurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Security Accreditation. Upon request by the Company, no more than once per year, the Reinsurer shall provide
the Company with responses to a reasonable data security questionnaire. In the event Reinsurer has a SOC 2 type 2 audit report prepared by an independent third-party auditor that evaluates its controls related to, among other things, security,
availability, processing integrity, confidentiality, and privacy over a specified period, Reinsurer will provide a copy to Company annually.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Right to Perform Due Diligence and Assessments. The Reinsurer agrees to cooperate with the Company's
reasonable requests to perform due diligence and assessments, including but not limited to (i) responding in good faith to reasonable requests to change or modify this Agreement as it relates to the Company's regulatory compliance, and
responding in good faith to any requests due to the Company fulfilling its compliance with state or federal legal requirements to perform Due Diligence and Assessments, and promptly responding to Company's requests for assistance in responding
to regulatory inquiries and investigations, and (ii) providing information, including an overview of system audit information and incident response information, to validate ongoing compliance by the Reinsurer, the Reinsurer personnel, and
third-party contractors with the security (e.g., the adequacy of required controls and practices performed) and confidentiality obligations hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Reinsurer agrees to establish, implement and periodically test commercially reasonable business continuity,
cybersecurity and disaster recovery plans as are customary in the case of companies in similar lines of business of comparable size, complexity and type as the Reinsurer. Company shall be entitled to review an executive summary of such policies and
plans upon reasonable advance notice to Reinsurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Location and Control of Services. The method and means of providing the Services shall be under the exclusive
control, management, and supervision of the Reinsurer. While the Services shall be provided solely in and/or from the United States, Canada, or Germany, Company Confidential Information shall remain stored and resident in the United States at all
times and on computing equipment and data storage device residing therein. Reinsurer complies with all applicable regulations regarding the handling of data.

13.6 **OFAC Compliance** 

The parties represent that they are using, and shall use, best efforts to continue to be in compliance with all laws, regulations, judicial and administrative orders applicable to the Reinsured Policies as they pertain to the sanction laws administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC"), as such laws may be amended from time to time (collectively the "Laws"). Neither party shall be required to take any action under this Agreement that would violate said Laws, including, but not limited to, making any payments in violation of the Laws.

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In the event the Company is found not to be in compliance with any of the Laws material to this Agreement, this Agreement will remain in effect and the Company will indemnify the Reinsurer for any direct loss the Reinsurer suffers as a result of the non-compliance, and will seek to remedy the non-compliance as soon as reasonably possible.

Should either party discover or otherwise become aware that a reinsurance transaction has been entered into or a payment has been made in violation of the Laws, the party who first becomes aware of the violation of the Laws shall notify the other party, and the parties shall cooperate in order to take all necessary corrective actions.

The parties agree that such reinsurance transaction shall be null, void and of no effect from its inception, to the same extent as if the reinsurance transaction had never been entered into. In such event, each party shall be restored to the position it would have occupied if the violation had not occurred, including the return of any payments received, unless prohibited by law.

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**Article 14** 

14.1 **Representations and Warranties** 

The Company makes no representations and warranties as to the future experience or profitability arising from the Reinsured Policies.

Each party represents and warrants that as of the Effective Date of this Agreement and at the time of executing this Agreement, if later, it is solvent on a statutory basis in all states in which it does business or is licensed.

This Article will not terminate or expire until all Reinsured Policies have been discharged or terminated in full.

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**Article 15** 

15.1 **Material Changes** 

"Material" or "materially" for purposes of this Agreement will mean facts that a prudent reinsurer or insurer would consider as reasonably likely to affect the Reinsurer's experience under the Agreement. Prior to the execution of this Agreement, the Company has provided to the Reinsurer the Business Guidelines for use in its assessment of the risks covered hereunder. The Company represents and warrants that, to the best of its knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) It has disclosed to the Reinsurer all information which is material to the risks being assumed hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The Business Guidelines were complete and accurate when disclosed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) There has been no material change in the Business Guidelines between the "as of" dates of the
information and the date of Agreement execution.

This Agreement will not cover policies affected by such material changes unless the Reinsurer has agreed in writing in advance with the material changes. In the event the Reinsurer does not respond within thirty (30) days, it shall be deemed to have accepted such proposed changes.

If Reinsured Policies are not covered due to an unapproved material change, all payments between the Company and the Reinsurer with respect to the affected Policies shall be refunded, excluding items relating to reserves or interest on reserves. No liability shall remain with the Reinsurer with respect to such Policies.

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**Article 16** 

16.1 **Duration of Agreement** 

This Agreement is unlimited as to its duration.

The Reinsurer or the Company may terminate this Agreement for new business at any time by giving ninety (90) days prior written notice or pursuant to Article 15.1 (Material Changes) of this Agreement. If, however, notice of termination is given during the three calendar month period following risk commencement date of this Agreement, termination for new business will become effective on the last day of that calendar quarter. During the notice period, the Company will continue to cede and the Reinsurer will continue to be liable for new policies covered under the terms of this Agreement.

The Reinsurer will remain liable for all Reinsured Policies in force as of the date of the termination, until their natural expiration, unless the parties mutually decide otherwise or as specified otherwise in this Agreement. All provisions of this Agreement will survive its termination to the extent necessary to carry its purpose.

If the Reinsurer has made a facultative offer prior to the termination date of this Agreement and the Company has accepted that facultative offer before the termination of this Agreement or the termination of the Reinsurer's offer, whichever comes later, the Reinsurer will be liable to honor the facultative offer even if the effective date of the policy falls beyond the termination date of this Agreement.

16.2 **Severability** 

Determination that any provision of this Agreement is invalid or unenforceable will not affect or impair the validity or the enforceability of the remaining provisions of this Agreement.

16.3 **Construction** 

This Agreement will be construed and administered without regard to authorship and without any presumption or rule of construction in favor of either party. This Agreement is between sophisticated parties, each of which has reviewed the Agreement and is fully knowledgeable about its terms and conditions.

16.4 **Credit for Reinsurance** 

The parties intend that the Company will receive statutory reserve credit in its state of domicile for reinsurance provided under this Agreement. The parties agree to use reasonable efforts to ensure that such reserve credit will remain available to the Company.

If the Company loses statutory reserve credit in part or in total due to a change in law or regulation (or a change in the interpretation or application of existing law or regulation by a regulator) or due to a failure by the Reinsurer to maintain in effect a required license or accreditation in the Company's state of domicile (hereinafter a "Reserve Credit Event"), then the parties will take the steps specified below. The parties will provide prompt notice of the occurrence of any Reserve Credit Event.

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Upon the occurrence of any Reserve Credit Event, the Reinsurer shall establish on behalf of the Company such trust accounts, letters of credit, premiums withheld by the Company, or a combination thereof as may be required by applicable law in order to permit the Company to obtain credit for such reinsurance. The Reinsurer will have the option of determining the method of funding to be utilized so long as the Company is satisfied that such method will provide such statutory financial statement credit.

The Reinsurer also agrees to take any additional action as may be required so as to comply with the requirements imposed by the insurance laws and regulations of the State of Wisconsin and of any other State or jurisdiction having jurisdiction over the Company in order to give the Company at all times full statutory financial statement credit for the reinsurance being provided under this Agreement, including by amending this Agreement to add required credit for reinsurance provisions.

If a Reserve Credit Event is not cured within sixty (60) days and the Reinsurer fails to establish or maintain collateral as set forth above, then the Company may recapture the business ceded under this Agreement. In that event, the Company and the Reinsurer will negotiate in good faith the terms of a mutually agreed recapture of the reinsurance provided hereunder.

16.5 **Non-Waiver** 

A waiver by either party of any violation, or the default by the other party in its adherence to any term of this Agreement, will not constitute a waiver of any other or subsequent violation or default. No prior transaction or dealing between the parties will establish any custom, usage or precedent waiving or modifying any provision of the Agreement. The failure of either party to enforce any part of this Agreement will not constitute a waiver of any right to do so.

16.6 **Retrocession** 

The Reinsurer may reinsure or retrocede any risks or business assumed hereunder. In the case any risks or business ceded to the Reinsurer under this treaty is retroceded to an unaffiliated company, the Reinsurer will inform the Company of the general nature of the retrocession including identification of the retrocessionaire.

16.7 **Governing Law** 

This Agreement shall be governed by the laws of the State of Wisconsin.

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16.8 **Interest** 

Each party reserves the right to charge interest on undisputed overdue balances, pursuant to the terms of this Agreement. If applicable, interest will be calculated according to the terms specified in Exhibit C.

16.9 **No License of Name** 

Neither Party shall use the other Party's trade name, logos, trademark, service marks, or any related property, or refer to or identify the other Party, in any advertising, publicity releases (including references on any customer lists or posting on public facing web-sites), or promotional or marketing correspondence to others.

16.10 **Counterparts**

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one Agreement, and any of the parties hereto may execute this Agreement by signing any such counterpart. The parties agree that transmission of signature on the original signature page via electronic means, either by facsimile or electronic mail, shall constitute valid execution of this Agreement and that there shall be no obligation to exchange copies of such original "wet" signatures. When this Agreement has been fully executed by the Company and the Reinsurer, it will become effective as of the Effective Date specified in Exhibit A.

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**Execution** 

Signed for and on behalf of **Thrivent Financial for Lutherans**

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| | | | |
|:---|:---|:---|:---|
| By: | ![LOGO](g95392dsp046a.jpg) <br>| By: | ![LOGO](g95392dsp046b.jpg) <br>|
| Title: | Senior Vice President, Chief Actuary | Title: | Vice President, Solutions Pricing & Development |
| Date: | 7/21/2025 \| 7:19:38 AM CDT | Date: | 7/30/2025 \| 10:57:38 AM EDT |

---

Signed for and on behalf of **Munich American Reassurance Company**

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| | | | |
|:---|:---|:---|:---|
| By: | ![LOGO](g95392dsp046c.jpg) <br>| By: | ![LOGO](g95392dsp046d.jpg) <br>|
| Title: | AVP & Actuary, Individual Life Pricing | Title: | Assistant Vice President, Treaty |
| Date: | 7/17/2025 \| 8:24:42 AM EDT | Date: | 7/17/2025 \| 9:28:52 AM EDT |

---

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**Exhibit A** 

**Business Covered** 

**Agreement Effective Date:** 

January 1, 2025. The commencement dates for specific plans are shown below.

**Coverage:** 

The policies on the plans shown below which have policy issue dates falling in the period that begins with the Commencement Date and ends with the Termination Date and that qualify for automatic reinsurance are covered according to the Basis specified below, provided that the policies are issued to legal permanent residents of the United States, Canada, Puerto Rico, or Guam, or the policies are issued to insureds that meet the "Field Guidelines for Non-U.S. Persons" which were provided to the Reinsurer and are listed in Exhibit A-1, Business Guidelines. Policies may be backdated up to 6 months to save age.

Professional Athletes will not be reinsured on an automatic basis. A Professional Athlete is defined as an individual who is a team member, which includes players, coaches, trainers, and managers, in any of the five major U.S. professional sports—Major League Baseball (MLB), Major League Soccer (MLS), National Football League (NFL), the National Basketball Association (NBA), or National Hockey League (NHL).

Basis:

Reinsurer Share: 20.1% on a First Dollar Quota Share basis (30% of the 67%) not to exceed the maximum Automatic Binding Limit and Jumbo Limit stated in Exhibit E. If the Company has filled its maximum retention on the life as specified in Exhibit D, the percentage the Reinsurer will automatically accept will increase to 30%.

Any change in the net amount at risk due to changes in the cash value applicable to the policy will be shared proportionately between the Company and its reinsurers.

**Plans, Riders and Benefits:** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Issue Ages (ALB)** | **Issue Ages (ALB)** | **Issue Ages (ALB)** |
| **Product** <br> **Identification** | **Form No.** | **Commencement<br>Date** | **Non-NY** | **Non-NY** | **NY** | |
| **Product** <br> **Identification** |  |  | **Smoker**  | **Non**<br> **Smoker** | **Smoker**  | <br>**Non**<br> **Smoker** |
| 10 Year Term |  | January 1, 2025 | 18 - 75 | 18 - 75 | 18 - 70 | 18 - 70 |
| 15 Year Term |  | January 1, 2025 | 18 - 70 | 18 - 70 | 18 - 65 | 18 - 65 |
| 20 Year Term |  | January 1, 2025 | 18 - 65 | 18 - 65 | 18 - 60 | 18 - 60 |
| 30 Year Term |  | January 1, 2025 | 18 - 50 | 18 - 55 | 18 - 50 | 18 - 50 |
| Accelerated Death Benefit for Terminal Illness Rider\* |  | January 1, 2025 | Follows base policy | Follows base policy | Follows base policy | Follows base policy |

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**\*** Accelerated Death Benefit for Terminal Illness Rider is reinsured at no additional cost. 

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Disability Waiver not reinsured.

For products sold with a term conversion privilege, there are two options:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Basic term conversion – allows for conversion from issue date to end of day before 5<sup>th</sup> contract anniversary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Extended term conversion – allows for conversion from issue date to end of day before the earlier of
(i) contract anniversary at end of level period; or (ii) when the insured reaches attained age 70 for issue ages 18 – 64.

**Company's State of Domicile**: Wisconsin

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**Exhibit A-1** 

**Business Guidelines** 

The Company affirms that the following have been supplied to the Reinsurer and are in use as of the effective date of this Agreement:

1. Policy Form(s)

2. Policy Application Form(s)

3. Underwriting Guidelines and Rules

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Life Insurance Age and Amount Grid

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Build Charts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Preferred Criteria

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Field Guidelines for Non-U.S. Persons

4. LTIV Product Paper

5. Declaration of Insurability

The Company affirms that the following Underwriting Manual is in use as of the effective date of this Agreement:

Swiss Re's LifeGuide

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**Exhibit A-2** 

**Facultative Submissions** 

The Company may submit on a facultative basis to the Reinsurer any application for a policy which meets the conditions outlined in Article 2.2. by sending to the Reinsurer an Application for Reinsurance, a sample of which is included as Exhibit B. The Application for Reinsurance will include copies of all underwriting evidence that is available for risk assessment, including copies of the application for insurance, medical examiners' reports, attending physicians' statements, inspection reports, and other papers bearing on the insurability of the risk as requested by the Reinsurer. The Company will also notify the Reinsurer of any outstanding underwriting requirements at the time of the facultative submission. Any subsequent information pertinent to the risk assessment will be transmitted to the Reinsurer immediately.

After consideration of the Application for Reinsurance and related papers, the Reinsurer will promptly inform the Company of its underwriting decision. The Reinsurer's facultative offer will expire at the end of 120 days, unless otherwise specified by the Reinsurer. If the Company accepts the Reinsurer's offer and the policy is placed in force in accordance with the Business Guidelines provided to the Reinsurer, the Company will duly notify the Reinsurer according to the New Business report specified in Exhibit F. The Reinsurer's share of liability for such policy will commence at the time specified in Article 4.2 of the Agreement.

If any risk is submitted to more than one reinsurer for consideration, the Company's rules for placement of facultative cases will apply.

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**Exhibit B**![LOGO](g95392dsp051.jpg)

Reinsurance Application From: Company Name ı Applicant's Name Social Security Number Last First Middle Date of Birth Age Sex Plan Preferred Smoker Nonsmoker Reunderwriting Curr Residence For Premium Tax Policy Number Policy Date Preliminary Term From Type of Application Facultative Automatic Placement Date Self Administered (Bulk) Terms YRT Coinsurance Decrement Cash Values Reserves Age Basis Retention Code Full Reduced Nil Reinsurance Amounts Basic Coverage Additional Coverage Waiver Premium Benefit Accidental Death Benefit Other Benefits Previous Insurance In force Of Which We Retained - Insurance Now Applied For - Of Which We Retain - Reinsurance This Cession - Extra Premium Rating If Substandard - Coinsurance Premium - \*For YRT cases state Gross Premiums and Expiry Ages for benefits WP AD Other Amount of Premium to be Waived Annual Decrement for Amount at Risk Additional Information or Remarks Date By

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**Exhibit C** 

**General Terms** 

1. **Premium Tax**:

The Reinsurer will not reimburse the Company for premium taxes.

2. **Dividend Payments**:

The Reinsurer will not reimburse the Company for dividends paid to policyholders.

3. **Policy Loans**:

The Reinsurer will not participate in policy loans or other forms of indebtedness as respects the Reinsured Policies.

4. **Cash Surrender Values**:

The Reinsurer will not reimburse the Company for cash surrender values paid to the policyholder.

5. **Reinsurance Limits**:

**Minimum Initial Automatic Reinsurance Limit ceded to the Reinsurer:** $0

**Minimum Final Automatic Reinsurance Limit ceded to the Reinsurer:** $0

**Minimum Initial Facultative Reinsurance Limit:** $250,001 (face amount)

6. **Interest Calculation on Late Payments**: Interest will accrue from the due date at a rate equal to the
Secured Overnight Financing Rate (SOFR) 180 day average as reported on the New York Federal Reserve website on the due date or, if the due date is not a business day, on the next business day after the due date, plus 25 basis points per annum to be
compounded and adjusted every three months after such due date.

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**Exhibit C-1** 

**Rates and Terms for Level Term IV (10, 15, 20, and 30 year level term)** 

1. **Reinsurance Structure**: YRT

2. **Age Basis**: Last

3. **Premium Mode**: Annual in Advance

4. **Billing Frequency**: Monthly

5. **Premiums**:

**Basic Premiums**:

The Company will pay to the Reinsurer a basic premium calculated by multiplying the net amount at risk of the Reinsured Policy, as defined in the Net Amounts At Risk provision of this Exhibit, by the appropriate rate from the 2015 VBT Select & Ultimate, Gender and Smoker distinct set of rates which have been included at the end of this Exhibit, subject to the percentages shown below. The Company will continue to pay the appropriate premium to the Reinsurer as long as the Reinsured Policy is in force.

The following percentages will be applied to the reinsurance premiums payable hereunder:

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**Exhibit C-1** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Full Underwriting** | | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | <br>**Class** | **All ages** | **Ages 18-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non- tob | 0% | 71% | 63% |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 76% | 67% |
|  10 Year<br> Male | Preferred Non-tob | 0% | 81% | 72% |
|  10 Year<br> Male | Standard Non-tob | 0% | 110% | 97% |
|  10 Year<br> Male | Preferred Tob | 0% | 80% | 72% |
|  10 Year<br> Male | Standard Tob | 0% | 100% | 90% |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 55% | 59% |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 59% | 64% |
|  10 Year<br> Female | Preferred Non-tob | 0% | 63% | 68% |
|  10 Year<br> Female | Standard Non-tob | 0% | 85% | 92% |
|  10 Year<br> Female | Preferred Tob | 0% | 66% | 65% |
|  10 Year<br> Female | Standard Tob | 0% | 81% | 80% |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 63% | 57% |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 68% | 62% |
|  15 Year<br> Male | Preferred Non-tob | 0% | 72% | 66% |
|  15 Year<br> Male | Standard Non-tob | 0% | 98% | 89% |
|  15 Year<br> Male | Preferred Tob | 0% | 75% | 68% |
|  15 Year<br> Male | Standard Tob | 0% | 93% | 84% |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 53% | 49% |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 57% | 53% |
|  15 Year<br> Female | Preferred Non-tob | 0% | 61% | 56% |
|  15 Year<br> Female | Standard Non-tob | 0% | 82% | 77% |
|  15 Year<br> Female | Preferred Tob | 0% | 65% | 64% |
|  15 Year<br> Female | Standard Tob | 0% | 80% | 79% |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 51% | 43% |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 54% | 46% |
|  20 Year<br> Male | Preferred Non-tob | 0% | 58% | 49% |
|  20 Year<br> Male | Standard Non-tob | 0% | 79% | 66% |
|  20 Year<br> Male | Preferred Tob | 0% | 59% | 52% |
|  20 Year<br> Male | Standard Tob | 0% | 74% | 64% |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 44% | 39% |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 47% | 42% |
|  20 Year<br> Female | Preferred Non-tob | 0% | 50% | 44% |
|  20 Year<br> Female | Standard Non-tob | 0% | 68% | 60% |
|  20 Year<br> Female | Preferred Tob | 0% | 53% | 50% |
|  20 Year<br> Female | Standard Tob | 0% | 66% | 62% |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 59% | 46% |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 63% | 50% |
|  30 Year<br> Male | Preferred Non-tob | 0% | 68% | 53% |
|  30 Year<br> Male | Standard Non-tob | 0% | 92% | 72% |
|  30 Year<br> Male | Preferred Tob | 0% | 69% | 61% |
|  30Year<br> Male | Standard Tob | 0% | 85% | 76% |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 53% | 45% |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 57% | 48% |
|  30 Year<br> Female | Preferred Non-tob | 0% | 61% | 52% |
|  30 Year<br> Female | Standard Non-tob | 0% | 82% | 70% |
|  30 Year<br> Female | Preferred Tob | 0% | 60% | 62% |
|  30 Year<br> Female | Standard Tob | 0% | 74% | 77% |

---

Treaty #100176 Confidential (C3) 46 Execution Copy_7_16_2025

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**Exhibit C-1** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Accelerated Underwriting** | **Accelerated Underwriting** | **Vear1** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-50** | **Ages51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 88% | **77x** |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 95% | 82% |
|  10 Year<br> Male | Preferred Non-tob | 0% | 101% | 88% |
|  10 Year<br> Male | Standard Non-tob | 0% | 138% | 120% |
|  10 Year<br> Male | Preferred Tob | 0% | 94% | 79% |
|  10 Year<br> Male | Standard Tob | 0% | 117% | 98% |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 67% | 60% |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 71% | 64% |
|  10 Year<br> Female | Preferred Non-tob | 0% | 76% | 69% |
|  10 Year<br> Female | Standard Non-tob | 0% | 103% | 94% |
|  10 Year<br> Female | Preferred Tob | 0% | 68% | 64% |
|  10 Year<br> Female | Standard Tob | 0% | 83% | 80% |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 78% | 68% |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 84% | 73% |
|  15 Year<br> Male | Preferred Non-tob | 0% | 89% | 77% |
|  15 Year<br> Male | Standard Non-tob | 0% | 122% | 105% |
|  15 Year<br> Male | Preferred Tob | 0% | 86% | 74% |
|  15 Year<br> Male | Standard Tob | 0% | 107% | 91% |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 62% | 55% |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 66% | 59% |
|  15 Year<br> Female | Preferred Non-tob | 0% | 70% | 63% |
|  15 Year<br> Female | Standard Non-tob | 0% | 95% | 85% |
|  15 Year<br> Female | Preferred Tob | 0% | 64% | 62% |
|  15 Year<br> Female | Standard Tob | 0% | 79% | 76% |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 61% | 50% |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 65% | 53% |
|  20 Year<br> Male | Preferred Non-tob | 0% | 70% | 57% |
|  20 Year<br> Male | Standard Non-tob | 0% | 95% | 77% |
|  20 Year<br> Male | Preferred Tob | 0% | 67% | 56% |
|  20 Year<br> Male | Standard Tob | 0% | 82% | 70% |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 48% | 42% |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 52% | 45% |
|  20 Year<br> Female | Preferred Non-tob | 0% | 55% | 48% |
|  20 Year<br> Female | Standard Non-tob | 0% | 75% | 65% |
|  20 Year<br> Female | Preferred Tob | 0% | 52% | 49% |
|  20 Year<br> Female | Standard Tob | 0% | 65% | 61% |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 65% | 49% |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 70% | 52% |
|  30 Year<br> Male | Preferred Non-tob | 0% | 74% | 56% |
|  30 Year<br> Male | Standard Non-tob | 0% | 101% | 76% |
|  30 Year<br> **Male** | Preferred Tob | 0% | 72% | 63% |
|  30 Year<br> Male | Standard Tob | 0% | 89% | 78% |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 56% | 46% |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 60% | 50% |
|  30 Year<br> Female | Preferred Non-tob | 0% | 63% | 53% |
|  30 Year<br> Female | Standard Non-tob | 0% | 86% | 72% |
|  30 Year<br> Female | Preferred Tob | 0% | 59% | 60% |
|  30 Year<br> Female | Standard Tob | 0% | 73% | 75% |

---

Treaty #100176 Confidential (C3) 47 Execution Copy_7_16_2025

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**Exhibit C-1** 

Accelerated underwriting follows the Company's underwriting guidelines. Policies issued and classified as Accelerated Pass will use Accelerated Underwriting YRT rates applied. All other business submitted for Accelerated (failed and holdout) will use Full Underwriting YRT rates applied.

**Post Level Period YRT Rates:** 

---

| | | |
|:---|:---|:---|
| **Post-level Term** | **Post-level Term** | **Post-level Term** |
|  T10 | 225% | of Level Term Rate |
|  T15 | 225% | of Level Term Rate |
|  T20 | 225% | of Level Term Rate |
|  T30 | 125% | of Level Term Rate |

---

**Table Extra Premiums/Multiple Extra Premiums:** 

The Reinsurer shall receive its proportionate share of any extra premiums payable due to additional mortality risk.

Table extra premiums are equal to 25% of the standard Non-Tobacco or standard Tobacco premium (whichever is appropriate) for each assessed table of extra mortality. The Multiple Extra Premium is developed by adding all Table Extra premiums to the standard basic premium.

**Expanded Standard Rate Class:** 

The Company allows applicants with up to 65 debits to be issued as standard cases for automatic business. The Company will pay the Reinsurer the standard class on those cases. Program does not apply to facultative business.

**Supplementary Rider(s):** 

For the Accelerated Death Benefit for Terminal Illness rider specified in Exhibit A which is reinsured on a YRT basis, there is no additional reinsurance premium.

In the event of an accelerated benefit claim, the Reinsurer will pay the Company its proportionate share of any eligible accelerated benefits in one lump sum. Payment of the Accelerated Death Benefit rider will reduce the policy's face amount and the reinsurance proportionately. Reinsurance coverage of the remaining portion of the policy's face amount will continue for as long as the policy remains in force.

6. **Other Allowances**:

**On Multiple Extra Premiums:** Not applicable

**On Supplementary Riders:** Not applicable

**On Flat Extra Premiums:**

The reinsurance premium remitted to the Reinsurer will include any flat extra premium minus the allowances shown below.

---

| | | |
|:---|:---|:---|
| **Type** | **First Year** | **Renewal** |
|  Temporary (1-5 years) | 10% | 10% |
|  Permanent (6+ years) | 75% | 10% |

---

Treaty #100176 Confidential (C3) 48 Execution Copy_7_16_2025

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**Exhibit C-1** 

7. **Policy Fee:** There is no policy fee applicable.

8. **Reinsured Net Amounts At Risk:** 

For term plans, the net amount at risk will be based on the reinsured face amount. For permanent plans NAR will be based on face amount less cash value.

9. **Rate Basis:** 

The rates in this subsection are on a non-participating basis.

10. **Experience Monitoring:** 

Company agrees to periodically provide updated distribution, lapse, and mortality experience data upon request.

11. **YRT Rates For Conversions:** 

Premiums are based on the issue age, risk class, and duration of the original policy unless a risk class reconsideration has been applied.

The following percentages are to be applied to the 2015 VBT ALB Select and Ultimate Gender and Smoker distinct table.

Treaty #100176 Confidential (C3) 49 Execution Copy_7_16_2025

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**Exhibit C-1** 

---

| | | | |
|:---|:---|:---|:---|
| **Conversions** | | | |
| **Term** | <br>**Class** | <br>**Conversion Duration** |<br>**Rate** |
|  10 Year | Preferred best Non-tob | 5-Jan | 90% |
|  10 Year | Super Preferred Non-tob | 5-Jan | 92% |
|  10 Year | Preferred Non-tob | 5-Jan | 100% |
|  10 Year | Standard Non-tob | 5-Jan | 131% |
|  10 Year | Preferred Tob | 5-Jan | 98% |
|  10 Year | Standard Tob | 5-Jan | 119% |
|  10 Year | Preferred best Non-tob | 8-Jun | 100% |
|  10 Year | Super Preferred Non-tob | 8-Jun | 103% |
|  10 Year | Preferred Non-tob | 8-Jun | 111% |
|  10 Year | Standard Non-tob | 8-Jun | 146% |
|  10 Year | Preferred Tob | 8-Jun | 108% |
|  10 Year | Standard Tob | 8-Jun | 133% |
|  10 Year | Preferred best Non-tob | 10-Sep | 109% |
|  10 Year | Super Preferred Non-tob | 10-Sep | 112% |
|  10 Year | Preferred Non-tob | 10-Sep | 121% |
|  10 Year | Standard Non-tob | 10-Sep | 159% |
|  10 Year | Preferred Tob | 10-Sep | 118 |
|  10 Year | Standard Tob | 10-Sep | 145 |
|  15 Year | Preferred best Non-tob | 7-Jan | 80% |
|  15 Year | Super Preferred Non-tob | 7-Jan | 84% |
|  15 Year | Preferred Non-tob | 7-Jan | 91% |
|  15 Year | Standard Non-tob | 7-Jan | 117% |
|  15 Year | Preferred Tob | 7-Jan | 92% |
|  15 Year | Standard Tob | 7-Jan | 111% |
|  15 Year | Preferred best Non-tob | 12-Aug | 89% |
|  15 Year | Super Preferred Non-tob | 12-Aug | 93% |
|  15 Year | Preferred Non-tob | 12-Aug | 101% |
|  15 Year | Standard Non-tob | 12-Aug | 130% |
|  15 Year | Preferred Tob | 12-Aug | 102% |
|  15 Year | Standard Tob | 12-Aug | 124% |
|  15 Year | Preferred best Non-tob | 13-15 | 97 |
|  15 Year | Super Preferred Non-tob | 13-15 | 102% |
|  15 Year | Preferred Non-tob | 13-15 | 110 |
|  15 Year | Standard Non-tob | 13-15 | 142% |
|  15 Year | Preferred Tob | 13-15 | 111% |
|  15 Year | Standard Tob | 13-15 | 135% |

---

Treaty #100176 Confidential (C3) 50 Execution Copy_7_16_2025

------

**Exhibit C-1** 

---

| | | | |
|:---|:---|:---|:---|
| **Conversions** | | | |
| **Term** | <br>**Class** | <br>**Conversion Duration** |<br>**Rate** |
|  20 Year | Preferred best Non-tob | 1-9 | 64% |
|  20 Year | Super Preferred Non-tob | 1-9 | 67% |
|  20 Year | Preferred Non-tob | 1-9 | 72% |
|  20 Year | Standard Non-tob | 1-9 | 94% |
|  20 Year | Preferred Tob | 1-9 | 72% |
|  20 Year | Standard Tob | 1-9 | 88% |
|  20 Year | Preferred best Non-tob | 10-15 | 71% |
|  20 Year | Super Preferred Non-tob | 10-15 | 74% |
|  20 Year | Preferred Non-tob | 10-15 | 80% |
|  20 Year | Standard Non-tob | 10-15 | 104% |
|  20 Year | Preferred Tob | 10-15 | 80% |
|  20 Year | Standard Tob | 10-15 | 97% |
|  20 Year | Preferred best Non-tob | 16-20 | 78% |
|  20 Year | Super Preferred Non-tob | 16-20 | 81% |
|  20 Year | Preferred Non-tob | 16-20 | 87% |
|  20 Year | Standard Non-tob | 16-20 | 114% |
|  20 Year | Preferred Tob | 16-20 | 87% |
|  20 Year | Standard Tob | 16-20 | 106% |
|  30 Year | Preferred best Non-tob | 1-14 | 70% |
|  30 Year | Super Preferred Non-tob | 1-14 | 74% |
|  30 Year | Preferred Non-tob | 1-14 | 79% |
|  30 Year | Standard Non-tob | 1-14 | 106% |
|  30 Year | Preferred Tob | 1-14 | 82% |
|  30 Year | Standard Tob | 1-14 | 101% |
|  30 Year | Preferred best Non-tob | 15-25 | 78% |
|  30 Year | Super Preferred Non-tob | 15-25 | 82% |
|  30 Year | Preferred Non-tob | 15-25 | 88% |
|  30 Year | Standard Non-tob | 15-25 | 118% |
|  30 Year | Preferred Tob | 15-25 | 91% |
|  30 Year | Standard Tob | 15-25 | 112% |
|  30 Year | Preferred best Non-tob | 26-30 | 85% |
|  30 Year | Super Preferred Non-tob | 26-30 | 90%% |
|  30 Year | Preferred Non-tob | 26-30 | 96% |
|  30 Year | Standard Non-tob | 26-30 | 129% |
|  30 Year | Preferred Tob | 26-30 | 99% |
|  30 Year | Standard Tob | 26-30 | 122% |

---

Treaty #100176 Confidential (C3) 51 Execution Copy_7_16_2025

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![LOGO](g95392dsp060.jpg)

2015 VBT FEMALE NONSMOKER ALB Duration Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.27 0.27 0.26 0.27 0.27 0.27 0. 26 0.26 0.27 0.28 0.30 0.32 0.34 0.36 0.40 0.47 0.54 0.62 0.70 0.77 0.83 0.86 0.87 0.87 0.88 0.88 43 19 0.26 0.25 0.25 0.25 0.25 0.25 0.24 0.24 0.26 0.28 0.30 0.32 0.33 0.36 0.41 0.48 0.57 0.66 0.75 0.81 0.86 0.87 0.87 0.88 0.88 0.88 44 20 0.21 0.22 0.23 0.24 0.23 0.22 0.22 0.23 0.26 0.28 0.30 0.31 0.33 0.36 0.43 0.51 0.60 0.68 0.76 0.83 0.87 0.87 0.88 0.88 0.88 0.90 45 21 0.17 0.20 0.22 0.22 0.21 0.20 0.21 0.23 0.26 0.29 0.30 0.31 0.33 0.38 0.45 0.54 0.62 0.69 0.77 0.84 0.87 0.88 0.88 0.88 0.90 0.94 46 22 0.15 0.19 0.20 0.19 0.18 0.19 0.21 0.24 0.27 0.29 0.30 0.32 0.35 0.41 0.49 0.56 0.63 0.70 0.78 0.84 0.88 0.88 0.88 0.90 0.94 0.99 47 23 0.14 0.18 0.18 0.17 0.17 0.19 0.22 0.25 0.28 0.30 0.31 0.33 0.37 0.44 0.52 0.59 0.64 0.71 0.78 0.84 0.88 0.88 0.90 0.94 0.99 1.05 48 24 0.12 0.15 0.16 0.16 0.17 0.19 0.22 0.25 0.28 0.30 0.33 0.36 0.41 0.49 0.56 0.60 0.65 0.71 0.78 0.84 0.88 0.90 0.94 0.99 1.05 1.13 49 25 0.10 0.13 0.14 0.15 0.17 0.20 0.23 0.26 0.29 0.32 0.35 0.40 0.46 0.53 0.59 0.62 0.67 0.73 0.79 0.85 0.90 0.94 0.99 1.05 1.13 1.23 50 26 0.09 0.12 0.14 0.15 0.17 0.20 0.23 0.27 0.31 0.35 0.39 0.44 0.51 0.58 0.61 0.64 0.69 0.75 0.82 0.88 0.94 0.99 1.05 1.13 1.23 1.35 51 27 0.08 0.12 0.14 0.16 0.18 0.20 0.24 0.29 0.33 0.38 0.43 0.49 0.56 0.61 0.64 0.67 0.72 0.78 0.85 0.92 0.99 1.05 1.13 1.23 1.35 1.51 52 28 0.07 0.12 0.14 0.16 0.18 0.21 0.26 0.31 0.36 0.41 0.47 0.53 0.60 0.64 0.66 0.70 0.75 0.82 0.89 0.97 1.05 1.13 1.23 1.35 1.51 1.70 53 29 0.07 0.13 0.15 0.16 0.19 0.23 0.28 0.34 0.39 0.45 0.50 0.56 0.62 0.66 0.69 0.73 0.80 0.88 0.96 1.04 1.13 1.23 1.35 1.51 1.70 1.90 54 30 0.07 0.13 0.15 0.17 0.20 0.25 0.31 0.37 0.42 0.47 0.53 0.59 0.65 0.68 0.72 0.78 0.86 0.95 1.03 1.12 1.23 1.35 1.51 1.70 1.90 2.10 55 31 0.08 0.14 0.16 0.19 0.22 0.28 0.34 0.40 0.45 0.50 0.55 0.61 0.67 0.72 0.77 0.84 0.94 1.03 1.11 1.22 1.35 1.51 1.70 1.90 2.10 2.30 56 32 0.08 0.14 0.18 0.21 0.26 0.31 0.37 0.42 0.46 0.51 0.57 0.63 0.71 0.77 0.84 0.92 1.02 1.11 1.21 1.34 1.51 1.70 1.90 2.10 2.30 2.49 57 33 0.08 0.15 0.20 0.24 0.29 0.34 0.40 0.45 0.48 0.53 0.59 0.66 0.75 0.83 0.92 1.00 1.11 1.21 1.33 1.50 1.70 1.90 2.10 2.30 2.49 2.69 58 34 0.09 0.15 0.22 0.28 0.33 0.37 0.43 0.47 0.50 0.55 0.61 0.71 0.82 0.91 1.00 1.09 1.20 1.32 1.48 1.68 1.90 2.10 2.30 2.49 2.69 2.91 59 35 0.10 0.16 0.25 0.31 0.36 0.41 0.47 0.50 0.52 0.57 0.66 0.78 0.90 1.00 1.09 1.19 1.31 1.45 1.64 1.87 2.10 2.30 2.49 2.69 2.91 3.16 60 36 0.10 0.18 0.27 0.34 0.40 0.45 0.49 0.52 0.55 0.62 0.73 0.86 0.99 1.09 1.18 1.29 1.42 1.59 1.81 2.06 2.30 2.49 2.69 2.91 3.16 3.46 61 37 0.11 0.18 0.29 0.38 0.44 0.49 0.52 0.55 0.59 0.68 0.81 0.94 1.08 1.18 1.28 1.39 1.55 1.74 1.98 2.24 2.49 2.69 2.91 3.16 3.46 3.80 62 38 0.12 0.19 0.31 0.40 0.47 0.51 0.54 0.58 0.65 0.76 0.90 1.04 1.17 1.27 1.37 1.51 1.68 1.90 2.15 2.43 2.69 2.91 3.16 3.46 3.80 4.19 63 39 0.13 0.21 0.32 0.42 0.50 0.54 0.58 0.64 0.72 0.85 0.99 1.13 1.26 1.37 1.48 1.63 1.83 2.06 2.33 2.63 2.91 3.16 3.46 3.80 4.19 4.61 64 40 0.14 0.22 0.33 0.43 0.53 0.58 0.63 0.70 0.79 0.94 1.09 1.22 1.35 1.47 1.61 1.78 1.99 2.24 2.52 2.84 3.16 3.46 3.80 4.19 4.61 5.06 65 41 0.14 0.23 0.34 0.45 0.56 0.63 0.69 0.76 0.88 1.03 1.18 1.31 1.45 1.60 1.76 1.95 2.18 2.43 2.73 3.10 3.46 3.80 4.19 4.61 5.06 5.55 66 42 0.15 0.25 0.35 0.49 0.61 0.68 0.74 0.82 0.96 1.12 1.27 1.40 1.57 1.75 1.93 2.15 2.39 2.67 3.00 3.39 3.80 4.19 4.61 5.06 5.55 6.09 67 43 0.17 0.26 0.37 0.55 0.66 0.73 0.79 0.90 1.05 1.21 1.36 1.51 1.71 1.92 2.13 2.36 2.62 2.92 3.28 3.73 4.19 4.61 5.06 5.55 6.09 6.68 68 44 0.19 0.26 0.40 0.61 0.71 0.78 0.85 0.98 1.13 1.30 1.46 1.64 1.88 2.11 2.34 2.59 2.87 3.20 3.61 4.10 4.61 5.06 5.55 6.09 6.68 7.36 69 45 0.21 0.27 0.45 0.67 0.76 0.84 0.92 1.06 1.22 1.39 1.57 1.80 2.07 2.33 2.57 2.84 3.17 3.54 3.99 4.50 5.06 5.55 6.09 6.68 7.36 8.16 70 46 0.23 0.28 0.51 0.72 0.82 0.91 1.01 1.16 1.32 1.50 1.71 1.98 2.29 2.57 2.83 3.14 3.50 3.91 4.39 4.94 5.55 6.09 6.68 7.36 8.16 9.11 71 47 0.25 0.29 0.60 0.78 0.89 0.99 1.11 1.26 1.43 1.62 1.87 2.19 2.54 2.83 3.13 3.48 3.88 4.32 4.84 5.42 6.09 6.68 7.36 8.16 9.11 10.22 72 48 0.26 0.33 0.71 0.86 0.99 1.09 1.22 1.38 1.54 1.76 2.04 2.40 2.80 3.11 3.43 3.83 4.28 4.76 5.31 5.94 6.68 7.36 8.16 9.11 10.22 11.52 73 49 0.27 0.41 0.82 0.97 1.09 1.20 1.35 1.50 1.68 1.92 2.24 2.63 3.03 3.38 3.73 4.18 4.68 5.20 5.80 6.51 7.36 8.16 9.11 10.22 11.52 13.03 74 50 0.28 0.54 0.94 1.08 1.20 1.33 1.48 1.63 1.83 2.11 2.46 2.85 3.26 3.63 4.04 4.56 5.10 5.66 6.32 7.14 8.16 9.11 10.22 11.52 13.03 14.75 75 51 0.28 0.68 1.03 1.17 1.31 1.46 1.61 1.78 2.02 2.34 2.71 3.09 3.49 3.90 4.39 4.97 5.54 6.14 6.91 7.90 9.11 10.22 11.52 13.03 14.75 16.74 76 52 0.29 0.80 1.10 1.26 1.42 1.59 1.76 1.97 2.24 2.60 2.97 3.33 3.75 4.21 4.78 5.42 6.04 6.76 7.68 8.83 10.22 11.52 13.03 14.75 16.74 19.06 77 53 0.30 0.85 1.14 1.34 1.55 1.74 1.95 2.19 2.51 2.88 3.25 3.60 4.04 4.58 5.23 5.95 6.69 7.58 8.66 9.95 11.52 13.03 14.75 16.74 19.06 21.79 78 54 0.31 0.87 1.19 1.40 1.70 1.92 2.17 2.45 2.80 3.18 3.53 3.89 4.39 5.03 5.79 6.62 7.49 8.54 9.83 11.39 13.03 14.75 16.74 19.06 21.79 25.08 79 55 0.32 0.88 1.21 1.48 1.88 2.15 2.43 2.74 3.11 3.47 3.81 4.21 4.80 5.56 6.44 7.42 8.47 9.69 11.20 13.03 14.75 16.74 19.06 21.79 25.08 28.96 80 56 0.33 0.89 1.23 1.59 2.11 2.42 2.73 3.05 3.41 3.74 4.08 4.55 5.27 6.18 7.21 8.36 9.61 11.01 12.71 14.75 16.74 19.06 21.79 25.08 28.96 33.07 81 57 0.34 0.91 1.25 1.76 2.38 2.72 3.04 3.35 3.67 3.98 4.36 4.95 5.83 6.89 8.11 9.45 10.88 12.47 14.42 16.74 19.06 21.79 25.08 28.96 33.07 37.34 82 58 0.36 0.94 1.30 2.01 2.68 3.03 3.34 3.61 3.90 4.23 4.70 5.45 6.53 7.79 9.19 10.74 12.39 14.20 16.42 19.06 21.79 25.08 28.96 33.07 37.34 42.23 83 59 0.40 0.97 1.43 2.30 3.00 3.33 3.59 3.83 4.11 4.52 5.14 6.12 7.42 8.86 10.48 12.25 14.12 16.13 18.72 21.79 25.08 28.96 33.07 37.34 42.23 48.98 84 60 0.47 1.01 1.67 2.57 3.29 3.58 3.80 4.03 4.37 4.91 5.75 6.98 8.50 10.16 11.99 13.97 16.06 18.38 21.47 25.08 28.96 33.07 37.34 42.23 48.98 56.73 85 61 0.56 1.09 1.97 2.79 3.53 3.77 3.97 4.26 4.72 5.46 6.56 8.05 9.77 11.64 13.66 15.87 18.31 21.29 24.94 28.96 33.07 37.34 42.23 48.98 56.73 64.43 86 62 0.67 1.23 2.32 3.03 3.71 3.94 4.20 4.62 5.25 6.22 7.60 9.33 11.25 13.30 15.54 18.06 21.13 24.67 28.96 33.07 37.34 42.23 48.98 56.73 64.43 73.25 87 63 0.79 1.47 2.66 3.30 3.82 4.16 4.60 5.20 5.99 7.21 8.85 10.78 12.86 15.10 17.63 20.80 24.51 28.71 33.07 37.34 42.23 48.98 56.73 64.43 73.25 83.31 88 64 0.89 1.81 2.93 3.47 3.97 4.51 5.18 5.92 6.92 8.46 10.32 12.36 14.60 17.03 19.96 24.02 28.27 33.07 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 89 65 0.99 2.06 3.14 3.60 4.18 5.00 5.84 6.77 8.09 9.96 12.00 14.12 16.55 19.40 22.82 27.48 32.67 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 90 66 1.09 2.16 3.30 3.72 4.48 5.56 6.61 7.82 9.49 11.69 13.91 16.23 18.74 22.07 25.92 31.16 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 91 67 1.21 2.25 3.43 3.92 4.92 6.22 7.52 9.06 11.09 13.65 16.11 18.61 21.58 25.27 29.13 35.36 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 92 68 1.35 2.33 3.57 4.27 5.50 7.01 8.57 10.45 12.90 15.84 18.48 21.46 25.10 28.99 33.81 41.15 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 93 69 1.49 2.43 3.72 4.69 6.20 7.91 9.73 11.98 14.90 18.28 21.34 24.93 28.87 33.63 40.58 48.85 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 94

Treaty #100176 Confidential (C3) 52 Execution Copy_7_16_2025

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![LOGO](g95392dsp061.jpg)

2015 VBT FEMALE NONSMOKER ALB Duration Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 1.65 2.56 3.92 5.19 7.01 8.87 10.96 13.65 17.11 20.99 24.75 28.57 33.37 39.75 48.11 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 95 71 1.83 2.73 4.17 5.86 7.88 9.88 12.28 15.48 19.56 24.06 28.36 32.43 38.54 46.37 55.62 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 96 72 2.03 2.94 4.50 6.67 8.80 10.93 13.69 17.47 22.32 27.50 32.20 37.15 44.49 53.73 63.93 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 97 73 2.30 3.22 4.93 7.55 9.74 12.05 15.22 19.72 25.45 31.28 36.40 42.64 51.28 61.91 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 98 74 2.64 3.54 5.49 8.49 10.73 13.25 16.96 22.31 28.96 35.50 41.04 48.50 58.46 70.81 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 99 75 3.04 3.93 6.19 9.49 11.79 14.61 18.98 25.26 32.94 40.21 46.82 55.89 67.43 81.09 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 100 76 3.46 4.40 7.06 10.57 12.96 16.18 21.29 28.66 37.50 45.50 54.40 65.34 78.58 93.36 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 101 77 3.92 4.98 8.09 11.75 14.29 17.98 24.00 32.65 42.76 51.89 63.09 76.08 91.56 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 102 78 4.39 5.69 9.33 13.06 15.77 20.10 27.26 37.41 48.83 60.21 73.61 89.26 105.58 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 103 79 4.72 6.55 10.80 14.48 17.48 22.66 31.23 43.11 56.52 70.91 87.01 104.70 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 104 80 5.02 7.57 12.46 16.02 19.49 25.94 36.12 50.03 65.71 82.79 101.96 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 105 81 5.52 8.75 14.30 17.72 22.49 30.40 42.24 58.63 77.18 97.47 117.74 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 106 82 6.22 10.12 16.46 20.53 26.67 36.05 50.48 70.70 93.70 116.08 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 107 83 7.21 11.70 19.04 24.76 31.92 43.30 63.20 88.67 114.60 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 108 84 8.32 13.64 22.51 29.86 38.51 53.73 80.84 109.01 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 109 85 9.33 16.25 27.15 36.02 47.49 71.17 101.08 129.33 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 110 86 10.31 19.60 32.75 43.45 61.90 95.09 125.71 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 111 87 11.40 23.65 39.51 54.83 85.07 123.76 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 112 88 12.62 28.28 47.64 72.38 114.48 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 113 89 13.95 33.53 60.19 98.09 142.34 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 114 90 16.69 42.09 86.52 133.89 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 115 91 22.98 60.53 129.36 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 116 92 34.41 90.93 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 117 93 52.25 120.48 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 78.02 160.08 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 113.49 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

Treaty #100176 Confidential (C3) 53 Execution Copy_7_16_2025

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![LOGO](g95392dsp062.jpg)

2015 VBT FEMALE SMOKER ALB DurationIssue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.27 0.27 0.26 0.27 0.27 0.30 0.33 0.33 0.34 0.34 0.36 0.38 0.41 0.44 0.47 0.57 0.69 0.79 0.94 1.09 1.23 1.34 1.44 1.53 1.62 1.71 43 19 0.26 0.25 0.25 0.25 0.28 0.31 0.32 0.33 0.34 0.36 0.38 0.41 0.44 0.47 0.57 0.68 0.79 0.93 1.08 1.22 1.34 1.44 1.53 1.62 1.71 1.82 44 20 0.21 0.22 0.23 0.25 0.29 0.31 0.31 0.33 0.36 0.38 0.41 0.44 0.47 0.57 0.68 0.79 0.92 1.06 1.20 1.33 1.44 1.53 1.62 1.71 1.82 1.96 45 21 0.18 0.20 0.23 0.27 0.29 0.30 0.31 0.34 0.38 0.40 0.44 0.47 0.57 0.68 0.78 0.92 1.05 1.18 1.31 1.43 1.53 1.62 1.71 1.82 1.96 2.15 46 22 0.18 0.21 0.24 0.26 0.28 0.30 0.33 0.37 0.40 0.43 0.47 0.57 0.68 0.78 0.92 1.04 1.17 1.30 1.41 1.52 1.62 1.71 1.82 1.96 2.15 2.35 47 23 0.19 0.21 0.23 0.25 0.28 0.31 0.35 0.40 0.43 0.47 0.55 0.68 0.78 0.91 1.04 1.16 1.28 1.40 1.50 1.61 1.71 1.82 1.96 2.15 2.35 2.58 48 24 0.20 0.21 0.23 0.26 0.29 0.33 0.38 0.43 0.47 0.54 0.66 0.77 0.91 1.03 1.15 1.27 1.39 1.49 1.59 1.70 1.82 1.96 2.15 2.35 2.58 2.84 49 25 0.19 0.20 0.23 0.27 0.31 0.36 0.41 0.46 0.52 0.63 0.75 0.88 1.02 1.14 1.26 1.37 1.48 1.58 1.69 1.80 1.96 2.15 2.35 2.58 2.84 3.13 50 26 0.18 0.20 0.24 0.29 0.34 0.39 0.44 0.51 0.60 0.72 0.85 1.00 1.14 1.26 1.36 1.47 1.58 1.68 1.80 1.95 2.15 2.35 2.58 2.84 3.13 3.45 51 27 0.18 0.21 0.26 0.31 0.36 0.42 0.48 0.57 0.68 0.81 0.96 1.11 1.25 1.36 1.46 1.57 1.68 1.79 1.92 2.14 2.35 2.58 2.84 3.13 3.45 3.80 52 28 0.18 0.22 0.28 0.33 0.39 0.46 0.54 0.64 0.77 0.92 1.07 1.22 1.35 1.45 1.55 1.66 1.79 1.92 2.09 2.34 2.58 2.84 3.13 3.45 3.80 4.18 53 29 0.19 0.24 0.30 0.36 0.43 0.51 0.61 0.73 0.87 1.02 1.17 1.30 1.43 1.53 1.64 1.76 1.91 2.09 2.30 2.57 2.84 3.13 3.45 3.80 4.18 4.61 54 30 0.20 0.25 0.32 0.40 0.48 0.58 0.69 0.82 0.97 1.12 1.25 1.38 1.51 1.62 1.73 1.89 2.09 2.29 2.54 2.82 3.13 3.45 3.80 4.18 4.61 5.09 55 31 0.21 0.27 0.35 0.44 0.54 0.65 0.78 0.91 1.05 1.20 1.33 1.46 1.60 1.72 1.86 2.06 2.29 2.53 2.81 3.10 3.45 3.80 4.18 4.61 5.09 5.64 56 32 0.22 0.30 0.40 0.50 0.61 0.74 0.87 1.00 1.13 1.28 1.41 1.54 1.70 1.85 2.04 2.27 2.52 2.80 3.07 3.41 3.80 4.18 4.61 5.09 5.64 6.26 57 33 0.24 0.33 0.45 0.57 0.69 0.82 0.95 1.07 1.20 1.35 1.49 1.64 1.84 2.03 2.24 2.50 2.78 3.07 3.38 3.76 4.18 4.61 5.09 5.64 6.26 6.95 58 34 0.26 0.37 0.51 0.65 0.77 0.90 1.02 1.14 1.27 1.43 1.58 1.79 2.02 2.24 2.48 2.76 3.06 3.37 3.74 4.16 4.61 5.09 5.64 6.26 6.95 7.71 59 35 0.29 0.42 0.57 0.72 0.85 0.97 1.09 1.21 1.35 1.51 1.75 1.99 2.23 2.48 2.74 3.05 3.37 3.73 4.16 4.61 5.09 5.64 6.26 6.95 7.71 8.56 60 36 0.32 0.46 0.63 0.79 0.91 1.03 1.15 1.28 1.42 1.70 1.98 2.19 2.46 2.73 3.02 3.36 3.73 4.15 4.60 5.09 5.64 6.26 6.95 7.71 8.56 9.51 61 37 0.35 0.51 0.69 0.85 0.98 1.10 1.22 1.36 1.62 1.95 2.18 2.42 2.71 3.02 3.34 3.72 4.14 4.60 5.09 5.64 6.26 6.95 7.71 8.56 9.51 10.55 62 38 0.38 0.55 0.75 0.91 1.04 1.17 1.30 1.55 1.87 2.15 2.40 2.67 3.00 3.34 3.71 4.13 4.59 5.09 5.64 6.26 6.95 7.71 8.56 9.51 10.55 11.68 63 39 0.41 0.59 0.80 0.97 1.11 1.25 1.47 1.78 2.06 2.37 2.65 2.95 3.32 3.70 4.10 4.59 5.09 5.64 6.25 6.94 7.71 8.56 9.51 10.55 11.68 12.92 64 40 0.43 0.62 0.84 1.04 1.19 1.38 1.68 1.97 2.27 2.61 2.93 3.27 3.67 4.10 4.54 5.08 5.63 6.25 6.93 7.70 8.56 9.51 10.55 11.68 12.92 14.26 65 41 0.44 0.65 0.90 1.11 1.29 1.56 1.85 2.17 2.51 2.88 3.24 3.62 4.07 4.54 5.02 5.63 6.25 6.93 7.69 8.54 9.51 10.55 11.68 12.92 14.26 15.70 66 42 0.46 0.68 0.95 1.20 1.42 1.72 2.04 2.39 2.77 3.19 3.59 4.01 4.50 4.99 5.56 6.24 6.92 7.68 8.53 9.48 10.55 11.68 12.92 14.26 15.70 17.23 67 43 0.47 0.71 1.03 1.32 1.57 1.89 2.25 2.65 3.07 3.53 3.97 4.43 4.94 5.51 6.16 6.92 7.67 8.51 9.46 10.50 11.68 12.92 14.26 15.70 17.23 18.84 68 44 0.49 0.76 1.12 1.46 1.73 2.10 2.49 2.93 3.40 3.91 4.39 4.85 5.43 6.10 6.83 7.66 8.50 9.45 10.50 11.65 12.92 14.26 15.70 17.23 18.84 20.57 69 45 0.51 0.82 1.23 1.61 1.92 2.32 2.76 3.24 3.76 4.32 4.81 5.33 6.02 6.77 7.57 8.48 9.44 10.49 11.64 12.86 14.26 15.70 17.23 18.84 20.57 22.49 70 46 0.55 0.89 1.35 1.78 2.12 2.57 3.06 3.60 4.17 4.73 5.27 5.91 6.68 7.51 8.40 9.41 10.48 11.63 12.85 14.14 15.70 17.23 18.84 20.57 22.49 24.48 71 47 0.58 0.97 1.48 1.97 2.36 2.85 3.40 3.99 4.57 5.19 5.85 6.56 7.41 8.34 9.33 10.44 11.62 12.84 14.12 15.57 17.23 18.84 20.57 22.49 24.48 26.55 72 48 0.62 1.05 1.63 2.18 2.62 3.17 3.77 4.37 5.01 5.76 6.49 7.27 8.22 9.24 10.33 11.55 12.84 14.12 15.49 17.08 18.84 20.57 22.49 24.48 26.55 28.81 73 49 0.67 1.14 1.79 2.41 2.91 3.52 4.15 4.81 5.57 6.40 7.20 8.04 9.09 10.21 11.40 12.73 14.12 15.48 17.00 18.64 20.57 22.49 24.48 26.55 28.81 31.28 74 50 0.72 1.25 1.97 2.67 3.24 3.90 4.58 5.34 6.19 7.12 7.98 8.90 10.05 11.28 12.57 13.99 15.48 16.99 18.62 20.30 22.49 24.48 26.55 28.81 31.28 34.03 75 51 0.77 1.36 2.17 2.96 3.61 4.32 5.09 5.95 6.89 7.93 8.87 9.91 11.13 12.46 13.85 15.38 16.97 18.60 20.29 22.13 24.48 26.55 28.81 31.28 34.03 37.08 76 52 0.83 1.49 2.40 3.28 4.03 4.81 5.68 6.62 7.68 8.83 9.87 11.06 12.33 13.77 15.30 16.92 18.59 20.28 22.10 24.08 26.55 28.81 31.28 34.03 37.08 40.46 77 53 0.90 1.63 2.64 3.64 4.49 5.37 6.33 7.39 8.56 9.83 10.99 12.29 13.69 15.23 16.88 18.57 20.27 22.07 24.05 26.30 28.81 31.28 34.03 37.08 40.46 44.19 78 54 0.97 1.79 2.91 4.04 5.02 6.00 7.08 8.25 9.55 10.94 12.25 13.64 15.20 16.84 18.56 20.26 22.04 24.02 26.24 28.75 31.28 34.03 37.08 40.46 44.19 48.74 79 55 1.06 1.97 3.22 4.49 5.62 6.71 7.92 9.22 10.64 12.16 13.62 15.13 16.82 18.54 20.25 22.01 23.99 26.21 28.62 31.28 34.03 37.08 40.46 44.19 48.74 54.43 80 56 1.15 2.17 3.56 5.00 6.31 7.53 8.87 10.30 11.85 13.50 15.07 16.69 18.47 20.24 21.97 23.97 26.18 28.57 31.11 34.03 37.08 40.46 44.19 48.74 54.43 61.02 81 57 1.24 2.39 3.95 5.58 7.10 8.45 9.92 11.49 13.17 14.93 16.59 18.28 20.10 21.94 23.84 26.08 28.52 31.06 33.85 37.08 40.46 44.19 48.74 54.43 61.02 68.45 82 58 1.36 2.64 4.38 6.24 7.99 9.48 11.09 12.79 14.59 16.46 18.20 19.94 21.87 23.79 25.90 28.35 31.02 33.82 36.91 40.46 44.19 48.74 54.43 61.02 68.45 76.39 83 59 1.48 2.92 4.89 7.00 8.99 10.62 12.37 14.19 16.11 18.06 19.88 21.76 23.71 25.82 28.20 30.89 33.79 36.87 40.28 44.19 48.74 54.43 61.02 68.45 76.39 84.02 84 60 1.62 3.25 5.46 7.85 10.11 11.88 13.76 15.70 17.71 19.73 21.70 23.60 25.67 28.10 30.76 33.67 36.82 40.19 44.02 48.74 54.43 61.02 68.45 76.39 84.02 93.23 85 61 1.78 3.62 6.10 8.81 11.36 13.26 15.26 17.30 19.37 21.54 23.48 25.46 27.90 30.63 33.51 36.63 40.11 43.90 48.66 54.43 61.02 68.45 76.39 84.02 93.23 104.03 86 62 1.96 4.03 6.84 9.90 12.74 14.76 16.86 18.97 21.19 23.31 25.26 27.65 30.40 33.32 36.38 39.80 43.74 48.50 54.43 61.02 68.45 76.39 84.02 93.23 104.03 114.61 87 63 2.16 4.50 7.67 11.12 14.23 16.36 18.54 20.78 22.95 25.05 27.36 30.17 32.88 35.91 39.21 43.25 48.25 54.32 61.02 68.45 76.39 84.02 93.23 104.03 114.61 125.99 88 64 2.38 5.01 8.60 12.48 15.83 18.05 20.34 22.55 24.67 27.23 29.89 32.74 35.19 38.41 42.21 47.54 53.88 61.02 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 89 65 2.62 5.58 9.64 13.99 17.52 19.83 22.12 24.24 26.82 29.78 32.60 35.13 37.55 41.31 46.13 53.01 60.71 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 90 66 2.88 6.19 10.82 15.66 19.28 21.61 23.80 26.36 29.38 32.46 35.07 37.43 40.78 45.62 52.06 60.09 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 91 67 3.16 6.86 12.15 17.52 21.09 23.31 25.91 28.96 32.08 35.00 37.32 40.64 45.53 51.89 59.82 68.13 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 92 68 3.48 7.58 13.64 19.56 22.80 25.40 28.54 31.68 34.55 37.20 40.50 45.44 51.72 59.56 67.80 75.95 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 93 69 3.81 8.36 15.31 21.79 24.85 28.04 31.24 34.02 36.83 40.40 45.35 51.55 59.29 67.48 75.51 83.75 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 94

Treaty #100176 Confidential (C3) 54 Execution Copy_7_16_2025

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![LOGO](g95392dsp063.jpg)

2015 VBT FEMALE SMOKER ALB Duration Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 4.18 9.18 17.18 24.23 27.50 30.72 33.44 36.09 39.91 45.17 51.38 59.02 67.15 75.07 83.16 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 95 71 4.58 10.08 19.26 26.89 30.15 32.77 35.26 39.02 44.30 50.82 58.57 66.83 74.63 82.57 92.20 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 96 72 5.02 11.05 21.55 29.51 32.03 34.32 38.01 43.27 49.74 57.66 66.30 73.64 81.98 91.45 103.28 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 97 73 5.50 12.13 24.07 31.22 33.29 36.90 42.12 48.50 56.34 65.21 73.27 80.18 89.61 102.72 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 98 74 6.05 13.34 26.82 32.20 35.70 40.87 47.14 54.85 62.39 72.50 79.80 88.50 101.02 114.22 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 99 75 6.66 14.70 29.29 34.42 39.53 45.66 53.19 60.83 68.22 79.41 88.20 100.85 113.89 125.44 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 100 76 7.36 16.22 31.41 38.10 44.06 51.36 59.17 66.67 74.99 87.90 100.68 113.38 124.87 137.67 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 101 77 8.16 17.94 33.68 42.34 49.36 57.96 65.12 73.31 82.99 99.41 112.78 123.80 136.91 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 102 78 9.06 19.86 36.15 47.20 56.17 64.10 71.64 81.11 93.21 110.82 122.57 135.53 149.77 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 103 79 10.08 22.07 38.85 53.04 63.29 69.86 79.23 91.67 103.14 121.01 133.79 148.96 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 104 80 11.28 24.62 41.98 58.38 68.95 77.23 88.02 102.01 112.13 131.42 147.12 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 105 81 12.67 27.46 45.58 62.57 74.14 85.06 96.28 110.25 124.49 144.10 161.92 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 106 82 14.25 30.65 49.51 66.96 79.69 92.02 103.30 121.03 139.98 160.31 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 107 83 16.04 34.23 53.73 71.53 85.47 98.30 113.34 134.76 157.90 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 108 84 18.10 38.24 58.25 76.19 91.00 106.46 127.26 152.93 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 109 85 20.45 42.67 62.97 80.75 97.36 117.22 145.39 173.42 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 110 86 23.10 47.54 67.74 85.02 105.35 133.94 169.28 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 111 87 26.09 52.83 72.38 91.33 119.83 163.14 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 112 88 29.42 58.48 76.81 103.51 147.14 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 113 89 33.08 64.37 83.74 121.12 178.83 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 114 90 38.03 68.71 102.02 160.89 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 115 91 46.10 85.22 153.21 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 116 92 58.51 119.95 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 117 93 75.79 149.35 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 98.63 188.48 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 128.07 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

Treaty #100176 Confidential (C3) 55 Execution Copy_7_16_2025

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![LOGO](g95392dsp064.jpg)

2015 VBT MALE NONSMOKER ALB Duration Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.66 0.69 0.71 0.71 0.69 0.69 0.68 0.66 0.57 0.52 0.50 0.47 0.46 0.49 0.52 0.58 0.66 0.77 0.89 1.01 1.11 1.17 1.24 1.31 1.40 1.48 43 19 0.60 0.62 0.66 0.63 0.62 0.61 0.61 0.56 0.49 0.46 0.46 0.45 0.45 0.50 0.55 0.59 0.68 0.80 0.92 1.04 1.14 1.20 1.27 1.35 1.44 1.54 44 20 0.51 0.57 0.57 0.55 0.53 0.52 0.51 0.47 0.43 0.44 0.44 0.45 0.46 0.51 0.57 0.62 0.71 0.82 0.94 1.07 1.16 1.22 1.29 1.38 1.49 1.59 45 21 0.45 0.52 0.47 0.44 0.43 0.43 0.42 0.40 0.38 0.41 0.43 0.45 0.48 0.53 0.59 0.64 0.73 0.84 0.97 1.09 1.17 1.23 1.30 1.41 1.53 1.65 46 22 0.41 0.43 0.39 0.37 0.36 0.36 0.36 0.35 0.35 0.40 0.43 0.46 0.49 0.56 0.62 0.66 0.76 0.88 1.01 1.11 1.17 1.23 1.30 1.43 1.58 1.71 47 23 0.35 0.36 0.33 0.31 0.31 0.31 0.31 0.33 0.34 0.40 0.43 0.47 0.52 0.59 0.64 0.69 0.79 0.92 1.04 1.12 1.18 1.23 1.31 1.45 1.63 1.79 48 24 0.30 0.31 0.28 0.27 0.27 0.27 0.29 0.32 0.34 0.41 0.45 0.50 0.55 0.61 0.67 0.73 0.84 0.97 1.07 1.12 1.19 1.24 1.35 1.51 1.70 1.88 49 25 0.26 0.27 0.25 0.25 0.25 0.26 0.28 0.32 0.35 0.42 0.47 0.53 0.58 0.65 0.71 0.78 0.90 1.02 1.09 1.13 1.19 1.28 1.43 1.61 1.80 1.99 50 26 0.22 0.24 0.23 0.24 0.24 0.26 0.29 0.33 0.36 0.45 0.51 0.57 0.62 0.69 0.77 0.85 0.97 1.06 1.11 1.16 1.24 1.37 1.55 1.74 1.95 2.16 51 27 0.20 0.22 0.22 0.24 0.25 0.27 0.31 0.35 0.39 0.48 0.55 0.62 0.67 0.75 0.83 0.91 1.02 1.10 1.15 1.22 1.33 1.49 1.68 1.89 2.12 2.36 52 28 0.18 0.20 0.21 0.25 0.27 0.30 0.33 0.38 0.42 0.53 0.60 0.67 0.72 0.81 0.90 0.97 1.07 1.14 1.22 1.31 1.45 1.63 1.84 2.06 2.31 2.58 53 29 0.16 0.18 0.22 0.25 0.28 0.31 0.34 0.39 0.44 0.55 0.63 0.69 0.75 0.84 0.93 1.01 1.12 1.21 1.30 1.42 1.58 1.78 2.00 2.25 2.53 2.80 54 30 0.15 0.16 0.22 0.26 0.28 0.31 0.34 0.40 0.47 0.57 0.65 0.70 0.76 0.86 0.95 1.07 1.19 1.29 1.39 1.54 1.72 1.94 2.19 2.46 2.75 3.02 55 31 0.14 0.15 0.22 0.26 0.29 0.32 0.36 0.42 0.52 0.61 0.68 0.73 0.80 0.89 1.00 1.13 1.26 1.37 1.50 1.66 1.87 2.12 2.39 2.68 2.97 3.22 56 32 0.14 0.15 0.23 0.28 0.31 0.34 0.40 0.46 0.57 0.66 0.71 0.76 0.84 0.94 1.07 1.21 1.34 1.47 1.61 1.80 2.03 2.30 2.60 2.90 3.18 3.43 57 33 0.14 0.16 0.25 0.29 0.32 0.37 0.44 0.51 0.62 0.70 0.75 0.80 0.89 1.01 1.14 1.29 1.43 1.57 1.73 1.94 2.21 2.51 2.82 3.13 3.40 3.66 58 34 0.15 0.17 0.27 0.31 0.36 0.41 0.47 0.57 0.66 0.73 0.78 0.85 0.96 1.09 1.22 1.37 1.53 1.68 1.87 2.11 2.41 2.74 3.06 3.36 3.64 3.93 59 35 0.15 0.18 0.29 0.34 0.40 0.45 0.51 0.62 0.70 0.76 0.83 0.92 1.04 1.17 1.31 1.47 1.63 1.80 2.02 2.30 2.64 2.99 3.32 3.62 3.92 4.28 60 36 0.15 0.20 0.31 0.38 0.44 0.49 0.57 0.67 0.74 0.81 0.90 1.00 1.13 1.27 1.42 1.58 1.75 1.95 2.21 2.53 2.91 3.27 3.61 3.92 4.28 4.74 61 37 0.15 0.21 0.34 0.41 0.48 0.54 0.63 0.71 0.78 0.88 0.99 1.10 1.23 1.38 1.53 1.70 1.90 2.13 2.44 2.81 3.21 3.58 3.92 4.28 4.72 5.27 62 38 0.15 0.24 0.37 0.44 0.51 0.60 0.68 0.76 0.85 0.97 1.09 1.21 1.35 1.51 1.67 1.85 2.08 2.36 2.72 3.14 3.55 3.91 4.28 4.70 5.24 5.88 63 39 0.16 0.28 0.41 0.49 0.56 0.65 0.73 0.82 0.93 1.07 1.19 1.32 1.48 1.65 1.82 2.03 2.30 2.64 3.06 3.50 3.90 4.28 4.68 5.18 5.84 6.54 64 40 0.18 0.33 0.45 0.53 0.62 0.70 0.78 0.88 1.02 1.17 1.30 1.44 1.62 1.81 2.01 2.26 2.58 2.99 3.44 3.88 4.28 4.68 5.12 5.76 6.48 7.25 65 41 0.21 0.37 0.49 0.57 0.67 0.75 0.84 0.96 1.11 1.27 1.42 1.57 1.78 2.00 2.22 2.52 2.92 3.38 3.85 4.28 4.67 5.09 5.64 6.37 7.15 8.02 66 42 0.24 0.41 0.52 0.62 0.72 0.79 0.89 1.04 1.21 1.38 1.53 1.71 1.95 2.20 2.47 2.83 3.30 3.80 4.27 4.67 5.07 5.56 6.22 7.01 7.88 8.86 67 43 0.29 0.44 0.56 0.68 0.76 0.84 0.96 1.13 1.31 1.48 1.65 1.87 2.15 2.43 2.75 3.18 3.71 4.22 4.67 5.05 5.50 6.12 6.89 7.77 8.72 9.79 68 44 0.33 0.47 0.60 0.74 0.81 0.90 1.05 1.23 1.41 1.59 1.80 2.06 2.37 2.69 3.06 3.55 4.12 4.64 5.05 5.48 6.00 6.78 7.68 8.65 9.69 10.88 69 45 0.38 0.50 0.65 0.80 0.87 0.99 1.16 1.35 1.53 1.73 1.98 2.27 2.61 2.97 3.40 3.94 4.53 5.03 5.48 5.98 6.61 7.58 8.58 9.65 10.82 12.16 70 46 0.43 0.52 0.71 0.86 0.95 1.10 1.30 1.48 1.66 1.89 2.19 2.52 2.88 3.26 3.74 4.33 4.95 5.46 5.95 6.52 7.34 8.50 9.60 10.79 12.14 13.69 71 47 0.47 0.55 0.77 0.94 1.05 1.24 1.45 1.62 1.81 2.10 2.44 2.78 3.15 3.58 4.10 4.74 5.39 5.94 6.48 7.18 8.22 9.57 10.77 12.12 13.65 15.48 72 48 0.50 0.58 0.84 1.02 1.18 1.40 1.60 1.77 2.00 2.35 2.72 3.06 3.44 3.90 4.48 5.17 5.85 6.44 7.09 7.97 9.23 10.74 12.10 13.62 15.40 17.55 73 49 0.52 0.64 0.92 1.11 1.32 1.56 1.74 1.92 2.22 2.63 3.01 3.34 3.73 4.24 4.88 5.63 6.35 7.00 7.79 8.87 10.36 11.99 13.56 15.37 17.43 19.89 74 50 0.52 0.72 1.01 1.22 1.48 1.70 1.87 2.09 2.47 2.94 3.31 3.65 4.05 4.63 5.34 6.14 6.91 7.65 8.62 9.91 11.56 13.30 15.14 17.29 19.72 22.48 75 51 0.53 0.82 1.12 1.35 1.63 1.82 1.99 2.29 2.76 3.26 3.62 4.01 4.43 5.10 5.90 6.75 7.57 8.44 9.61 11.11 12.91 14.77 16.86 19.35 22.18 25.32 76 52 0.53 0.93 1.24 1.51 1.77 1.94 2.15 2.52 3.07 3.60 3.97 4.39 4.90 5.70 6.58 7.50 8.40 9.50 10.80 12.49 14.45 16.50 18.85 21.68 24.89 28.46 77 53 0.54 1.04 1.38 1.71 1.92 2.09 2.35 2.80 3.42 3.95 4.36 4.83 5.52 6.45 7.42 8.39 9.47 10.74 12.24 14.10 16.20 18.63 21.40 24.58 28.04 31.99 78 54 0.54 1.13 1.54 1.88 2.06 2.24 2.58 3.15 3.80 4.34 4.80 5.41 6.32 7.37 8.38 9.45 10.68 12.12 13.94 16.02 18.34 21.22 24.42 27.96 31.81 36.04 79 55 0.59 1.19 1.71 2.03 2.21 2.44 2.88 3.56 4.22 4.79 5.37 6.18 7.25 8.36 9.43 10.64 12.05 13.79 15.91 18.27 20.96 24.22 27.81 31.77 36.04 40.76 80 56 0.70 1.24 1.88 2.19 2.40 2.70 3.28 4.01 4.67 5.31 6.06 7.09 8.29 9.41 10.57 11.98 13.70 15.74 18.14 20.81 23.88 27.50 31.68 36.04 40.76 46.15 81 57 0.85 1.28 2.04 2.37 2.64 3.03 3.75 4.50 5.17 5.92 6.87 8.09 9.37 10.55 11.87 13.53 15.61 17.97 20.66 23.68 27.24 31.37 35.97 40.76 46.15 52.27 82 58 1.05 1.35 2.17 2.57 2.87 3.44 4.25 5.00 5.71 6.63 7.78 9.13 10.50 11.86 13.38 15.33 17.81 20.50 23.47 26.82 30.96 35.72 40.76 46.15 52.27 59.31 83 59 1.26 1.46 2.27 2.72 3.13 3.90 4.74 5.49 6.31 7.42 8.78 10.25 11.74 13.26 15.02 17.36 20.25 23.31 26.65 30.56 35.26 40.57 46.15 52.27 59.31 67.48 84 60 1.44 1.62 2.38 2.82 3.45 4.35 5.20 5.99 6.96 8.28 9.82 11.41 13.00 14.70 16.83 19.62 22.94 26.42 30.30 34.87 40.24 46.15 52.27 59.31 67.48 76.96 85 61 1.56 1.84 2.50 2.98 3.82 4.79 5.64 6.52 7.68 9.19 10.84 12.52 14.25 16.26 18.85 22.11 25.88 29.90 34.52 39.81 45.87 52.27 59.31 67.48 76.96 87.87 86 62 1.63 2.12 2.68 3.24 4.24 5.22 6.09 7.10 8.46 10.14 11.89 13.68 15.62 18.03 21.10 24.84 29.11 33.74 39.19 45.28 52.27 59.31 67.48 76.96 87.87 100.29 87 63 1.69 2.41 2.95 3.62 4.72 5.67 6.60 7.77 9.33 11.17 13.00 14.90 17.15 19.98 23.52 27.83 32.83 38.39 44.71 51.75 59.31 67.48 76.96 87.87 100.29 114.02 88 64 1.76 2.72 3.29 4.09 5.26 6.18 7.19 8.55 10.31 12.31 14.24 16.29 18.88 22.14 26.13 31.12 37.06 43.66 51.18 59.31 67.48 76.96 87.87 100.29 114.02 128.76 89 65 1.83 3.05 3.72 4.62 5.89 6.78 7.91 9.46 11.43 13.65 15.73 17.99 20.97 24.66 29.12 35.10 42.41 50.14 58.75 67.48 76.96 87.87 100.29 114.02 128.76 144.17 90 66 1.93 3.35 4.19 5.22 6.60 7.50 8.77 10.52 12.74 15.26 17.63 20.20 23.61 27.79 32.76 39.79 48.73 57.78 67.48 76.96 87.87 100.29 114.02 128.76 144.17 159.79 91 67 2.06 3.63 4.71 5.90 7.30 8.35 9.77 11.75 14.30 17.24 20.04 23.21 26.96 31.69 37.24 45.32 55.69 65.94 76.96 87.87 100.29 114.02 128.76 144.17 159.79 175.30 92 68 2.23 3.92 5.27 6.66 8.07 9.32 10.91 13.18 16.32 19.68 23.08 26.87 31.15 36.68 42.96 52.22 63.81 75.42 87.87 100.29 114.02 128.76 144.17 159.79 175.30 190.25 93 69 2.41 4.19 5.85 7.45 8.93 10.28 12.11 15.04 18.54 22.38 26.71 30.99 36.46 42.86 50.84 60.94 74.06 87.04 100.29 114.02 128.76 144.17 159.79 175.30 190.25 203.94 94

Treaty #100176 Confidential (C3) 56 Execution Copy_7_16_2025

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![LOGO](g95392dsp065.jpg)

2015 VBT MALE NONSMOKER ALB Duration Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 2.59 4.41 6.38 8.21 9.69 11.24 13.60 17.08 20.74 25.22 30.76 36.30 42.68 50.52 59.16 70.86 85.79 100.29 114.02 128.76 144.17 159.79 175.30 190.25 203.94 218.45 95 71 2.78 4.62 6.93 8.99 10.50 12.56 15.41 19.04 23.33 28.87 35.82 42.56 50.11 58.75 67.43 81.45 98.11 114.02 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 96 72 3.01 4.90 7.55 9.90 11.75 14.28 17.40 21.36 26.78 33.59 42.11 49.94 58.42 67.28 79.18 95.56 112.86 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 97 73 3.30 5.31 8.37 11.07 13.39 16.27 19.90 24.45 31.08 39.19 49.69 58.35 67.20 78.00 93.41 111.93 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 98 74 3.65 5.86 9.37 12.50 15.22 18.66 22.99 28.34 36.22 45.73 58.19 67.13 77.53 91.65 108.77 127.96 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 99 75 3.99 6.42 10.44 14.17 17.42 21.52 26.60 32.99 42.24 53.01 66.84 77.14 90.91 107.84 126.69 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 100 76 4.24 6.83 11.26 15.64 19.59 24.28 30.18 38.43 48.97 60.81 76.46 89.99 107.32 126.31 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 101 77 4.42 7.13 11.91 16.91 21.46 27.05 33.75 44.56 56.24 69.32 88.55 105.91 125.47 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 102 78 4.61 7.47 12.67 18.28 23.43 29.97 37.78 50.32 63.25 78.93 102.53 122.95 143.48 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 103 79 4.78 7.80 13.45 19.74 25.52 32.60 41.98 55.30 70.08 89.81 118.04 141.66 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 104 80 5.07 8.34 14.72 21.90 28.33 36.23 47.46 61.70 80.04 104.19 135.37 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 105 81 5.54 9.21 16.68 25.02 32.42 41.40 55.05 72.28 94.85 125.34 155.65 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 106 82 6.24 10.50 19.46 29.31 38.22 48.80 65.69 88.25 117.04 152.45 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 107 83 7.27 12.50 23.82 36.00 47.19 61.04 82.30 113.08 148.82 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 108 84 8.57 15.11 29.54 44.82 59.35 78.13 105.78 140.92 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 109 85 10.25 18.42 36.78 56.17 75.65 100.97 133.91 167.51 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 110 86 12.32 22.63 46.13 71.55 97.66 129.69 165.42 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 111 87 14.55 27.50 57.18 90.24 124.30 163.40 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 112 88 16.83 32.62 69.54 111.42 153.75 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 113 89 19.34 38.13 83.50 136.22 182.90 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 114 90 23.37 52.47 113.46 172.67 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 115 91 31.59 79.88 165.78 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 116 92 46.10 117.11 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 117 93 68.04 150.88 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 98.17 192.89 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 137.03 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

Treaty #100176 Confidential (C3) 57 Execution Copy_7_16_2025

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![LOGO](g95392dsp066.jpg)

2015 VBT MALE SMOKER ALB Duration Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.67 0.70 0.72 0.75 0.78 0.80 0.83 0.85 0.84 0.83 0.82 0.82 0.84 0.88 0.95 1.02 1.10 1.19 1.30 1.42 1.58 1.79 2.01 2.24 2.46 2.65 43 19 0.64 0.66 0.69 0.71 0.73 0.76 0.78 0.78 0.78 0.78 0.78 0.80 0.85 0.91 0.98 1.06 1.15 1.25 1.40 1.57 1.77 2.00 2.23 2.44 2.63 2.79 44 20 0.60 0.63 0.65 0.67 0.69 0.71 0.73 0.73 0.73 0.74 0.76 0.81 0.87 0.95 1.03 1.11 1.21 1.37 1.56 1.76 1.98 2.21 2.43 2.61 2.77 2.94 45 21 0.56 0.58 0.60 0.62 0.64 0.67 0.68 0.68 0.70 0.72 0.77 0.84 0.91 0.99 1.08 1.17 1.34 1.54 1.74 1.96 2.20 2.41 2.60 2.75 2.92 3.13 46 22 0.52 0.53 0.54 0.58 0.61 0.63 0.64 0.65 0.69 0.74 0.80 0.87 0.95 1.04 1.14 1.31 1.52 1.72 1.94 2.18 2.40 2.58 2.74 2.91 3.12 3.34 47 23 0.48 0.49 0.51 0.55 0.58 0.59 0.61 0.65 0.70 0.76 0.84 0.91 1.00 1.10 1.28 1.50 1.69 1.91 2.15 2.38 2.57 2.72 2.89 3.10 3.33 3.57 48 24 0.44 0.47 0.49 0.52 0.55 0.57 0.61 0.66 0.73 0.80 0.88 0.96 1.06 1.23 1.46 1.66 1.88 2.12 2.35 2.55 2.71 2.89 3.09 3.32 3.56 3.83 49 25 0.41 0.45 0.47 0.50 0.53 0.57 0.63 0.69 0.77 0.85 0.93 1.02 1.17 1.41 1.62 1.85 2.09 2.32 2.53 2.70 2.88 3.09 3.31 3.56 3.83 4.13 50 26 0.37 0.43 0.46 0.49 0.53 0.59 0.66 0.73 0.81 0.90 0.99 1.10 1.33 1.56 1.80 2.04 2.28 2.50 2.68 2.88 3.09 3.31 3.55 3.82 4.13 4.47 51 27 0.34 0.41 0.45 0.49 0.55 0.62 0.70 0.78 0.87 0.97 1.07 1.22 1.48 1.73 1.98 2.22 2.45 2.65 2.86 3.08 3.30 3.55 3.82 4.12 4.47 4.86 52 28 0.32 0.40 0.47 0.52 0.60 0.67 0.75 0.83 0.93 1.04 1.18 1.35 1.63 1.90 2.14 2.37 2.59 2.81 3.07 3.30 3.54 3.81 4.12 4.46 4.85 5.28 53 29 0.31 0.42 0.51 0.58 0.66 0.74 0.81 0.90 1.01 1.15 1.31 1.50 1.78 2.04 2.26 2.49 2.74 3.01 3.29 3.54 3.81 4.11 4.46 4.85 5.28 5.77 54 30 0.31 0.44 0.56 0.65 0.73 0.81 0.88 0.97 1.11 1.28 1.45 1.64 1.91 2.15 2.37 2.62 2.93 3.23 3.53 3.80 4.11 4.45 4.84 5.28 5.76 6.32 55 31 0.32 0.47 0.61 0.71 0.80 0.87 0.95 1.06 1.23 1.42 1.60 1.77 2.03 2.26 2.50 2.81 3.15 3.47 3.80 4.10 4.45 4.84 5.27 5.76 6.31 6.94 56 32 0.33 0.50 0.66 0.77 0.87 0.94 1.03 1.18 1.36 1.56 1.74 1.90 2.14 2.39 2.68 3.02 3.39 3.73 4.10 4.44 4.83 5.27 5.75 6.30 6.93 7.65 57 33 0.33 0.52 0.70 0.81 0.92 1.02 1.13 1.31 1.50 1.70 1.83 2.01 2.27 2.57 2.88 3.25 3.65 4.04 4.44 4.83 5.26 5.75 6.29 6.92 7.64 8.46 58 34 0.34 0.54 0.74 0.85 0.97 1.10 1.24 1.44 1.63 1.79 1.91 2.15 2.45 2.77 3.11 3.52 3.96 4.38 4.82 5.26 5.74 6.29 6.91 7.64 8.46 9.39 59 35 0.35 0.56 0.78 0.89 1.03 1.19 1.37 1.56 1.72 1.85 2.05 2.33 2.65 3.00 3.37 3.82 4.30 4.76 5.25 5.73 6.28 6.90 7.63 8.45 9.38 10.45 60 36 0.37 0.59 0.84 0.96 1.12 1.30 1.49 1.65 1.76 1.97 2.24 2.53 2.88 3.26 3.67 4.16 4.68 5.18 5.73 6.27 6.89 7.62 8.45 9.38 10.45 11.66 61 37 0.39 0.64 0.91 1.06 1.23 1.41 1.58 1.69 1.87 2.16 2.45 2.76 3.15 3.57 4.02 4.54 5.11 5.66 6.26 6.88 7.62 8.44 9.37 10.44 11.66 13.03 62 38 0.42 0.70 1.00 1.16 1.33 1.50 1.63 1.80 2.07 2.38 2.69 3.03 3.46 3.92 4.41 4.98 5.59 6.19 6.87 7.61 8.44 9.37 10.44 11.66 13.03 14.53 63 39 0.46 0.77 1.09 1.26 1.43 1.56 1.74 2.00 2.30 2.63 2.97 3.35 3.82 4.33 4.87 5.48 6.13 6.79 7.60 8.43 9.36 10.44 11.66 13.02 14.52 16.18 64 40 0.51 0.85 1.18 1.35 1.50 1.68 1.94 2.23 2.55 2.91 3.29 3.71 4.23 4.80 5.39 6.04 6.73 7.56 8.43 9.36 10.44 11.65 13.02 14.52 16.17 17.98 65 41 0.56 0.93 1.25 1.44 1.62 1.88 2.18 2.49 2.83 3.23 3.64 4.12 4.71 5.33 5.97 6.66 7.53 8.43 9.36 10.43 11.65 13.02 14.51 16.16 17.97 19.89 66 42 0.61 1.01 1.32 1.54 1.80 2.10 2.43 2.78 3.15 3.58 4.05 4.59 5.25 5.93 6.62 7.45 8.42 9.35 10.43 11.65 13.02 14.51 16.14 17.97 19.89 21.90 67 43 0.66 1.08 1.41 1.69 2.00 2.35 2.72 3.09 3.50 3.98 4.51 5.12 5.85 6.60 7.39 8.37 9.35 10.43 11.65 13.02 14.51 16.13 17.96 19.89 21.89 24.05 68 44 0.70 1.16 1.53 1.86 2.23 2.63 3.03 3.43 3.88 4.44 5.04 5.73 6.55 7.37 8.28 9.34 10.43 11.65 13.02 14.50 16.12 17.95 19.88 21.89 24.03 26.41 69 45 0.75 1.25 1.67 2.06 2.49 2.93 3.36 3.81 4.32 4.95 5.64 6.43 7.33 8.25 9.27 10.42 11.65 13.02 14.50 16.11 17.94 19.88 21.88 24.02 26.37 29.08 70 46 0.82 1.36 1.82 2.29 2.78 3.27 3.73 4.22 4.81 5.54 6.33 7.27 8.23 9.26 10.39 11.64 13.02 14.49 16.09 17.93 19.88 21.88 24.01 26.33 29.02 32.11 71 47 0.89 1.48 2.01 2.56 3.11 3.63 4.13 4.68 5.36 6.21 7.22 8.22 9.25 10.39 11.64 13.02 14.49 16.08 17.92 19.88 21.87 24.00 26.29 28.96 32.06 35.47 72 48 0.97 1.61 2.24 2.88 3.49 4.03 4.58 5.20 5.99 7.15 8.22 9.23 10.39 11.64 13.02 14.49 16.07 17.91 19.87 21.87 23.98 26.24 28.90 32.00 35.44 39.08 73 49 1.06 1.76 2.50 3.26 3.90 4.48 5.07 5.79 7.03 8.22 9.21 10.36 11.64 13.02 14.48 16.06 17.90 19.87 21.87 23.97 26.20 28.84 31.94 35.40 39.02 42.83 74 50 1.16 1.93 2.81 3.69 4.38 4.97 5.69 6.84 8.21 9.20 10.33 11.61 13.02 14.48 16.04 17.89 19.87 21.86 23.91 26.16 28.77 31.88 35.37 38.96 42.76 46.60 75 51 1.27 2.13 3.18 4.20 4.91 5.61 6.73 8.07 9.18 10.30 11.59 13.00 14.48 16.03 17.87 19.87 21.85 23.84 26.06 28.71 31.82 35.33 38.90 42.70 46.52 50.33 76 52 1.40 2.34 3.61 4.79 5.55 6.59 7.89 9.09 10.27 11.56 12.97 14.46 16.02 17.86 19.83 21.84 23.77 25.97 28.65 31.76 35.30 38.84 42.64 46.44 50.15 54.04 77 53 1.54 2.59 4.11 5.47 6.42 7.67 8.90 10.24 11.54 12.95 14.44 16.01 17.84 19.80 21.81 23.70 25.87 28.59 31.71 35.26 38.78 42.57 46.37 49.97 53.79 57.84 78 54 1.70 2.88 4.69 6.24 7.40 8.66 10.03 11.51 12.93 14.43 15.99 17.82 19.77 21.78 23.64 25.78 28.53 31.65 35.23 38.72 42.51 46.29 49.80 53.54 57.69 61.88 79 55 1.88 3.21 5.35 7.10 8.38 9.77 11.28 12.91 14.41 15.98 17.81 19.74 21.75 23.57 25.68 28.46 31.59 35.19 38.65 42.44 46.21 49.62 53.29 57.54 61.88 66.27 80 56 2.08 3.58 6.09 8.06 9.46 10.98 12.63 14.40 15.97 17.79 19.71 21.72 23.50 25.59 28.40 31.53 35.16 38.59 42.38 46.13 49.44 53.04 57.36 61.88 66.27 70.94 81 57 2.31 4.00 6.88 9.10 10.62 12.28 14.07 15.96 17.78 19.68 21.69 23.43 25.49 28.34 31.47 35.12 38.53 42.32 46.05 49.26 52.80 57.17 61.83 66.27 70.94 76.84 82 58 2.56 4.48 7.73 10.22 11.86 13.64 15.55 17.54 19.64 21.66 23.36 25.39 28.28 31.41 35.09 38.47 42.25 45.98 49.08 52.55 56.99 61.77 66.27 70.94 76.84 84.42 83 59 2.84 5.01 8.61 11.39 13.15 15.04 17.05 19.15 21.39 23.30 25.30 28.22 31.36 35.05 38.41 42.19 45.90 48.90 52.30 56.80 61.72 66.25 70.94 76.84 84.42 93.03 84 60 3.15 5.60 9.51 12.60 14.46 16.45 18.38 20.60 22.99 25.20 28.15 31.30 35.02 38.35 42.12 45.82 48.73 52.05 56.61 61.66 66.18 70.94 76.84 84.42 93.03 102.79 85 61 3.49 6.24 10.42 13.81 15.77 17.67 19.42 21.73 24.27 27.32 30.47 33.79 38.29 42.06 45.74 48.55 51.80 56.43 61.60 66.15 70.89 76.84 84.42 93.03 102.79 113.76 86 62 3.86 6.92 11.32 15.00 17.07 18.93 20.41 22.62 25.35 28.62 31.93 35.34 40.13 45.67 48.37 51.55 56.24 61.54 66.01 70.72 76.84 84.42 93.03 102.79 113.76 125.86 87 63 4.25 7.63 12.20 16.17 18.41 20.14 21.64 23.98 27.08 30.10 33.42 36.73 41.46 48.19 51.30 56.06 61.48 65.88 70.48 76.67 84.42 93.03 102.79 113.76 125.86 138.82 88 64 4.66 8.34 13.06 17.36 19.69 21.40 23.42 26.22 29.27 32.51 35.73 38.74 43.44 51.06 55.87 61.42 65.75 70.24 76.42 84.42 93.03 102.79 113.76 125.86 138.82 152.25 89 65 5.08 9.06 13.93 18.63 21.15 23.25 25.73 28.67 31.66 35.56 38.46 42.12 46.02 53.88 60.63 65.62 70.00 76.23 84.29 93.03 102.79 113.76 125.86 138.82 152.25 165.84 90 66 5.51 9.79 14.86 20.07 23.03 25.50 28.29 31.33 34.64 38.29 41.73 45.61 48.85 57.07 64.20 69.76 76.06 84.08 93.03 102.79 113.76 125.86 138.82 152.25 165.84 179.17 91 67 5.97 10.57 15.89 21.79 25.24 28.06 31.11 34.31 37.66 41.34 45.19 48.66 54.15 60.88 68.54 75.16 83.90 92.63 102.79 113.76 125.86 138.82 152.25 165.84 179.17 192.04 92 68 6.46 11.42 17.10 23.84 27.76 30.86 34.09 37.34 40.69 44.78 48.48 53.70 60.13 65.52 74.23 82.31 92.30 102.19 113.76 125.86 138.82 152.25 165.84 179.17 192.04 204.12 93 69 7.01 12.38 18.50 26.20 30.52 33.82 37.10 40.45 44.21 48.30 53.25 59.38 64.52 71.40 81.57 90.75 101.72 113.38 125.86 138.82 152.25 165.84 179.17 192.04 204.12 214.85 94

Treaty #100176 Confidential (C3) 58 Execution Copy_7_16_2025

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![LOGO](g95392dsp067.jpg)

2015 VBT MALE SMOKER ALB Duration Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 7.65 13.48 20.08 28.80 33.45 36.81 40.24 44.09 48.23 52.80 58.62 63.80 69.17 78.44 89.93 100.30 113.03 125.86 138.82 152.25 165.84 179.17 192.04 204.12 214.85 226.52 95 71 8.38 14.70 21.83 31.58 36.42 40.00 43.96 48.13 52.71 57.87 63.26 68.62 75.51 86.37 98.91 112.06 125.64 138.82 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 96 72 9.21 16.04 23.70 34.39 39.35 43.42 47.84 52.05 57.04 62.42 68.04 74.45 83.41 94.74 110.30 124.77 138.64 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 97 73 10.14 17.46 25.64 37.18 42.70 47.15 51.28 55.76 60.80 66.93 73.97 81.06 91.42 107.32 123.27 137.54 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 98 74 11.14 18.93 27.63 39.96 46.12 50.53 53.74 58.44 65.17 72.96 80.81 89.87 104.73 121.84 136.13 151.70 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 99 75 12.20 20.44 29.68 42.76 48.69 52.99 56.33 62.51 71.27 79.92 89.52 103.57 120.03 134.43 150.99 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 100 76 13.32 22.01 31.84 45.62 51.36 55.87 60.79 69.33 78.34 88.46 102.11 117.60 132.21 150.00 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 101 77 14.50 23.67 34.14 48.61 54.71 59.81 66.90 76.23 86.70 100.05 114.78 129.21 147.91 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 102 78 15.78 25.45 36.64 51.76 59.13 64.63 73.60 84.34 97.37 111.53 125.78 144.95 164.97 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 103 79 17.17 27.40 39.38 55.33 64.20 70.44 81.40 94.16 107.75 121.80 141.24 163.59 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 104 80 18.73 29.55 42.55 59.35 69.03 77.87 90.43 103.54 117.13 136.44 160.96 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 105 81 20.48 32.08 46.20 63.61 74.23 85.77 98.91 111.91 130.60 156.75 178.32 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 106 82 22.54 35.01 50.18 68.07 79.78 92.78 106.13 123.81 151.15 176.62 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 107 83 24.96 38.27 54.46 72.72 85.57 99.12 116.05 144.14 174.09 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 108 84 27.69 41.84 59.03 77.45 91.10 107.34 135.72 168.88 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 109 85 30.74 45.74 63.82 82.09 97.47 125.90 161.00 189.83 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 110 86 34.14 49.95 68.65 86.43 114.67 150.42 185.46 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 111 87 37.88 54.34 73.36 96.63 137.11 178.97 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 112 88 41.90 59.26 77.85 115.37 159.56 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 113 89 46.11 64.79 86.43 138.24 191.25 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 114 90 51.16 72.96 119.89 178.71 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 115 91 58.87 95.41 177.41 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 116 92 70.75 132.60 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 117 93 87.36 161.79 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 108.95 199.78 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 137.03 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

Treaty #100176 Confidential (C3) 59 Execution Copy_7_16_2025

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**Exhibit D** 

**Company's Retention Limits** 

**Company's Retention Limits:** 

The Company will retain 33% of each policy, not to exceed the Company's Retention Limits stated below.

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $6000000 |

---

Treaty #100176 Confidential (C3) 60 Execution Copy_7_16_2025

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**Exhibit E** 

**Automatic Acceptance Limits** 

**1.** **Automatic Binding Limit:** 

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $20000000 |

---

The pool maximum automatic binding amounts above exclude the Company's Retention.

**2.** **Jumbo Limit:** 

The Company will not cede any risk automatically if the total amount in force and applied for on the life with all insurance companies, including any amount to be replaced, exceeds the applicable amounts shown below.

$35,000,000

**3.** **Conditional Receipt or Temporary Insurance Agreement Liability:** 

The amount of coverage provided by the Reinsurer will be limited to its share of the following amounts per life provided by the Company's Conditional Receipt (or Interim Receipt) or Temporary Insurance Agreement.

---

| |
|:---|
| Maximum Amount |
| $3000000 |

---

Treaty #100176 Confidential (C3) 61 Execution Copy_7_16_2025

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**Exhibit F** 

**Reinsurance Reports** 

The Company acknowledges that timely and correct compliance with the reporting requirements of this Agreement are a material element of the Company's responsibilities hereunder and an important basis of the Reinsurer's ability to reinsure the risks hereunder. Consistent and material non-compliance with reporting requirements, including extended delays, will constitute a material breach of the terms of this Agreement.

Remittance: The Company will self-administer reinsurance transactions. Reinsurance premiums are payable as specified in the Premium Mode provision in the applicable Exhibit. During each accounting period, as defined below, the Company will report to the Reinsurer all first year and renewal premiums which became due during the previous accounting period. Reporting of business transactions should begin within 90 days of the latter of the effective date or the execution date of the Agreement, including policies with zero first year premium. Any adjustments made necessary by changes in reinsurance effective during a previous accounting period will also be reported.

The Company will take credit, without interest, for any unearned premiums arising due to reductions, cancellations or death claims. The unearned premiums refunded will be net of allowances and policy fees.

The Company will pay the balance of premiums in arrears due under a reinstated Reinsured Policy.

If a net balance is due to the Reinsurer, the Company will forward a remittance in settlement with its report. If the net balance is due to the Company, the Reinsurer will forward a remittance in settlement within 30 days of receipt of the report.

**Report Requirements:** 

The Company will send to the Reinsurer the following TAI reports electronically, by the times indicated below:

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| | | |
|:---|:---|:---|
| **Report** | **Accounting Period** | **Due Date** |
| 1. Transaction Report: | Monthly | 25th day after month end |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) New Business<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Renewal Business<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Changes & Terminations |  |  |
| 2. Inforce Report | Monthly | 25th day after month end |
| 3. Policy Exhibit | Monthly | 25th day after month end |

---

Treaty #100176 Confidential (C3) 62 Execution Copy_7_16_2025

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**Minimum Data Requirements for Electronic Administration:** 

Policy record details for new business, renewal business and changes and terminations (Reports #1, 2 and 3 in Report Requirements, above) may be reported as separate reports or combined into one report, hereinafter referred to as the Billings and Transactions Report. Nonetheless, the data elements specified below for the Billings and Transactions Report must be provided for each reported record.

**Billings and Transactions Report:** 

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| | |
|:---|:---|
| **General** |  |
| 1. Reporting Period Dates | Specifies the beginning and ending date of the reporting period represented on the statement file. |
| **Insured Data** |  |
| 2. Last Name | Represents the surname or family name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components |
| 3. First Name | Represents the given name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components. |
| 4. Middle Name or Middle Initial (if available) | Represents the middle name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components. |
| 5. Date of Birth | Specifies the date on which the insured was born; this field must be provided on each insured on a joint policy. |
| 6. Sex | Indicates the gender of the insured; this field must be provided on each insured on a joint policy. |
| 7. Tobacco Use Code | Indicates whether the insured is a smoker or user of tobacco products. |
| 8. Rating | Indicates whether the insured is standard, substandard, or uninsurable. |
| 9. Residence | State, province, or other geographical code that indicates where the insured resides. |
| 10. Insured Sequence Number | Specifies the number assigned by the ceding company to delineate one insured from another on a policy with multiple insureds. |
| **Coverage Data** |  |
| 11. Currency | Indicates the currency to be applied in calculating monetary amounts, if currency within this treaty is a variable on a by policy basis. |
| 12. Reinsurance Method | Indicates whether the policy is being ceded on an automatic or facultative basis. |
| 13. Policy Number | Specifies the number assigned by the ceding company to the policy record. |
| 14. Coverage Sequence Number | Specifies the number assigned by the ceding company to delineate one coverage or benefit from another on a policy with multiple coverages or benefits. |

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Treaty #100176 Confidential (C3) 63 Execution Copy_7_16_2025

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---

| | |
|:---|:---|
| 15. Issue Date | The date the policy or benefit was issued. |
| 16. Reinsurance Effective Date (if different than issue date) | Specifies the date upon which the reinsurance coverage goes into effect, if it goes into effect on a date other than the issue date. Can also be used to specify the original Policy Issue Date on a<br> contractual policy conversion. |
| 17. Plan Code | Specifies the plan of insurance being provided to<br> the insured; there must be a separate plan code for each coverage. |
| 18. Joint Life Indicator | Indicates that the coverage is a joint coverage and that multiple lives are involved with the coverage. |
| 19. Smoker Code | Indicates that the coverage has been issued at<br> either non-smoker or smoker rates. |
| 20. Preferred Risk Class | Indicates the level of classification between the preferred and standard categories; there may be more than one level of the preferred classification available, and this will indicate the specific level for this policy. |
| 21. Mortality Rating | Specifies the exact rating assigned to the policy: premium rates will be based on this rating; this rating is generally expressed as a percentage. |
| 22. Flat Extra Rate | Specifies a flat rate per thousand to be charged on the policy. |
| 23. Flat Extra Duration | Specifies the number of years that the flat extra rating will be charged. |
| 24. Direct Face Amount | Specifies the face amount of the benefit issued to the insured before the purchase of any reinsurance. |
| 25. Reinsured Face Amount | Specifies the face amount of the reinsurance purchased. |
| 26. Reinsured Amount at Risk | Specifies the net amount at risk for the current year's reinsurance benefits. |
| 27. Death Benefit Option | Specifies the option used to calculate the policy net amount at risk on Universal Life products, only. |
| 28. Coverage Maturity or Expiry Date | Specifies the date on which the insurance coverage will cease, based on the type of plan issued to the insured. |
| 29. Issue Age | From date of issue, the age at which premiums will be charged when the case does not use a rated age. |
| 30. Rated Age | From the date of issue, the age at which premiums will be charged when the age is increased for substandard reasons, or when the age is an equivalent age for joint products. |
| 31. Transaction Code | Indicates the specific action that has occurred to cause a policy to appear on the billing or transaction report, such as New Business, Renewal, Lapse, Death etc. |
| 32. Transaction Effective Date | Specifies the date on which the transaction is applied to the insured's policy. |
| 33. Standard Premium | The premium to be paid for the reinsured benefit; this must be specified for each benefit provided on a policy record. |

---

Treaty #100176 Confidential (C3) 64 Execution Copy_7_16_2025

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---

| | |
|:---|:---|
| 34. Substandard Premium | In the event that a mortality rating has been assigned, this is the substandard portion of the premium to be paid for the reinsured benefit; this must be specified for each benefit provided on a policy record. |
| 35. Flat Extra Premium | The premium to be paid the reinsurer for any flat extra premiums assigned to the policy. |
| 36. Fees | Any additional fees to be charged, such as policy fees |
| 37. Standard Allowance | The allowance to be taken for the reinsured benefit; this must be specified for each benefit provided on a policy record. |
| 38. Substandard Allowance | In the event that a mortality rating has been assigned, this is the portion of the allowance to be taken for the substandard premium; this must be specified for each benefit provided on a policy record. |
| 39. Flat Extra Allowance | In the event a flat extra rating has been assigned to the policy, this is the portion of the allowance to be taken on the flat extra premium; this must be specified for each flat extra premium provided on a policy record. |
| 40. Fee Allowance | The allowance to be taken for any fees paid on the record. |

---

**Inforce List:** 

As required, a complete listing of all policy records considered to be in force under this Agreement must also be provided to the Reinsurer (Report #2 in Report Requirements, above). Each record on the Inforce List must contain data elements 1–30, as specified in the above listing of data requirements.

**Reporting System:** The system used by the Company to administer its reinsurance is: **TAI**

The Company will inform the Reinsurer at least one reporting period in advance of any change in the reporting format or data prior to its use in reports to the Reinsurer. The Company will provide the Reinsurer with a test file containing such a change prior to its implementation in the production of reports.

**Notification of Acceptance of Facultative Offer:** The Company will promptly advise the Reinsurer of its acceptance of the Reinsurer's underwriting decision pertaining to facultative business by sending notice to the Reinsurer on the next New Business Report, providing the full details of the facultative new business.

**Additional Information:** Upon request, the Company will promptly provide the Reinsurer with any additional information related to the Reinsured Policies and which the Reinsurer requires in order to complete its financial statements.

Treaty #100176 Confidential (C3) 65 Execution Copy_7_16_2025

## Ex-99.(G)(Xxv)

**Reinsurance Agreement 2596-24AY05** 

**This Automatic Self Administered YRT Reinsurance Agreement** 

Effective **January 1, 2025**

(hereinafter referred to as the "Agreement")

is made between

**Thrivent Financial for Lutherans** 

(hereinafter referred to as the "Company")

and

**Optimum Re Insurance Company** 

Texas

(hereinafter referred to as the "Reinsurer")

------

**Table of Contents** 

---

| | | |
|:---|:---|:---|
|  **Article 1** | **Article 1** | **4** |
| 1.1 | General | 4 |
| 1.2 | Scope of Coverage | 4 |
|  **Article 2** | **Article 2** | **5** |
| 2.1 | Automatic Reinsurance | 5 |
| 2.2 | Facultative Reinsurance | 6 |
|  **Article 3** | **Article 3** | **7** |
| 3.1 | Automatic Submissions | 7 |
| 3.2 | Facultative Submissions | 7 |
|  **Article 4** | **Article 4** | **8** |
| 4.1 | Commencement of Automatic Reinsurance Liability | 8 |
| 4.2 | Commencement of Facultative Reinsurance Liability | 8 |
| 4.3 | Conditional Receipt or Temporary Insurance Agreement Liability | 8 |
|  **Article 5** | **Article 5** | **9** |
| 5.1 | Premium Accounting | 9 |
| 5.2 | Currency | 9 |
| 5.3 | Non-Payment of Premiums | 9 |
|  **Article 6** | **Article 6** | **10** |
| 6.1 | Right of Offset | 10 |
|  **Article 7** | **Article 7** | **11** |
| 7.1 | Conversions | 11 |
| 7.2 | Policy Changes | 11 |
| 7.3 | Reductions | 12 |
| 7.4 | Lapses | 13 |
| 7.5 | Reinstatements | 13 |
| 7.6 | Reinsurance Limits | 13 |
|  **Article 8** | **Article 8** | **14** |
| 8.1 | Retention Limit Change | 14 |
| 8.2 | Rate Increases | 14 |
| 8.3 | Recapture | 14 |
|  **Article 9** | **Article 9** | **16** |
| 9.1 | Claims Notice and Consultation | 16 |
| 9.2 | Claim Proofs | 16 |
| 9.3 | Claims Payment | 17 |
| 9.4 | Claims Practices | 18 |
| 9.5 | Contested Claims | 18 |
| 9.6 | Claims Expenses | 18 |
| 9.7 | Extra Contractual Obligations | 18 |
| 9.8 | Misstatement of Age or Sex | 19 |
|  **Article 10** | **Article 10** | **20** |

---

------

---

| | | |
|:---|:---|:---|
| 10.1 | Errors and Omissions in Administration of Reinsurance | 20 |
| 10.2 | Dispute Resolution | 20 |
| 10.3 | Arbitration | 20 |
|  **Article 11** | **Article 11** | **23** |
| 11.1 | Insolvency | 23 |
|  **Article 12** | **Article 12** | **25** |
| 12.1 | Premium Tax | 25 |
|  **Article 13** | **Article 13** | **26** |
| 13.1 | Entire Agreement | 26 |
| 13.2 | Inspection of Records | 26 |
| 13.3 | Utmost Good Faith | 27 |
| 13.4 | Confidentiality | 27 |
| 13.5 | Security | 30 |
| 13.6 | OFAC Compliance | 31 |
|  **Article 14** | **Article 14** | **33** |
| 14.1 | Representations and Warranties | 33 |
|  **Article 15** | **Article 15** | **34** |
| 15.1 | Material Changes | 34 |
|  **Article 16** | **Article 16** | **35** |
| 16.1 | Duration of Agreement | 35 |
| 16.2 | Severability | 35 |
| 16.3 | Construction | 35 |
| 16.4 | Credit for Reinsurance | 35 |
| 16.5 | Non-Waiver | 36 |
| 16.6 | Governing Law | 36 |
| 16.7 | Interest | 36 |
| 16.8 | No License of Name | 37 |
| 16.9 | Counterparts | 37 |
| **Execution** | **Execution** | 38 |
| **Exhibits** | **Exhibits** | 39 |
| A | Business Covered | 39 |
| A-1 | Business Guidelines | 41 |
| A-2 | Facultative Submissions | 42 |
| B | Reinsurance Application | 43 |
| C | General Terms | 44 |
| C-1 | Rates and Terms for Specific Plans | 45 |
| D | Company's Retention Limits | 60 |
| E | Automatic Acceptance Limits | 61 |
| F | Reinsurance Reports | 62 |

---

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**Article 1** 

1.1 **General** 

This Agreement is an indemnity reinsurance agreement solely between the Company and the Reinsurer. The acceptance of risks under this Agreement by the Reinsurer will create no right or legal relation between the Reinsurer and the insured, owner, beneficiary, or assignee of any insurance policy of the Company.

This Agreement will be binding upon the parties hereto and their respective successors and assigns including any rehabilitator, conservator, liquidator or statutory successor of either party. Neither party may effect any novation of this Agreement without the other party's prior written consent.

Day or days, when used in this Agreement, will mean calendar days.

**1.2** **Scope of Coverage** 

This Agreement applies to all directly issued insurance policies and supplemental benefits and riders listed in Exhibit A (hereinafter referred to as "policies" or "policy") and issued in a jurisdiction in which the Company is properly licensed. On and after the effective date of this Agreement, the Company will cede and the Reinsurer will accept its share of the benefits specified in Exhibit A in accordance with the terms of this Agreement. The policies accepted by the Reinsurer will be hereinafter referred to as "Reinsured Policies."

The Company may not reinsure the retained amounts specified in Exhibit D on any basis without the Reinsurer's prior written consent.

------

**Article 2** 

2.1 **Automatic Reinsurance** 

The Company will automatically cede and the Reinsurer will automatically accept its share of the Company's policies provided that, to the best of the Company's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The Company has retained on each life the amount set out in Exhibit D according to the age and mortality rating
at the time of underwriting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The total of the new ultimate face amount of reinsurance requested and the amount already reinsured on that
life under this Agreement and all other life agreements between the Reinsurer and the Company, does not exceed the Reinsurer's quota share (as found in Exhibit A, Basis) of the Automatic Binding Limit set out in Exhibit E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The total new ultimate face amount of insurance on that life in force and applied for with all companies,
including the Company, does not exceed the Jumbo Limit set out in Exhibit E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The application is on a life for which the current or any previous application had not been submitted by the
Company on a facultative basis to the Reinsurer or any other reinsurer within the last three years, unless the reason for the previous facultative submission was for exceeding the Automatic Binding Limit or exceeding the Jumbo Limit and no longer
applies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) The policy is not purchased as part of a premium financing program or third party investment program, unless
such programs have been approved in writing by the Reinsurer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) The Company applies its underwriting guidelines that are in effect at time of policy issuance. In the absence
of underwriting guidelines on any particular topic or condition or if the underwriting guidelines dictate that individual consideration is required, including but not limited to referrals to a medical doctor, the Company will make underwriting
decisions in good faith utilizing the care, skill and diligence with which a reasonably prudent underwriter would use in the same or similar circumstances; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) The policy contains a standard contestable period and a standard suicide exclusion, in each case, as permitted
by applicable law.

For purposes of this Agreement, "ultimate face amount" will mean, to the best of the Company's knowledge, the projected maximum face amount at the time of underwriting, including any contractual increases, that could be reached based on reasonable assumptions made about the policy.

If the Company is already on the risk for its retention under previously issued policies, the Reinsurer will automatically accept reinsurance for newly issued policies according to the limits set out in Exhibit E and the Reinsurer's share set out in Exhibit A, provided the Company has complied with the business guidelines specified in Exhibit A-1 (hereinafter the "Business Guidelines") that would have applied if the new policy had been fully retained by the Company.

------

Automatic reinsurance will be on a YRT basis using the YRT Rates for Full Underwriting or Accelerated Underwriting specified in Exhibit C-1.

2.2 **Facultative Reinsurance** 

Policies that do not qualify for automatic reinsurance hereunder may be submitted to the Reinsurer on a facultative basis. Additionally, policies that qualify for automatic reinsurance may be submitted to the Reinsurer for facultative consideration. If a policy that qualifies for automatic reinsurance is submitted to the Reinsurer or other reinsurers for facultative consideration, the policy will be treated as if proposed on a facultative basis.

Facultative reinsurance will be on a YRT basis using the YRT Rates for Full Underwriting specified in Exhibit C-1.

------

**Article 3** 

3.1 **Automatic Submissions** 

The Company will report Reinsured Policies ceded automatically to the Reinsurer according to the terms specified in Exhibit F.

Upon request, the Company will provide the Reinsurer copies of the application, underwriting papers and other information pertaining to any automatic cession under this Agreement.

3.2 **Facultative Submissions** 

Applications for reinsurance on a facultative basis will be made in accordance with Exhibit A-2. Unless the Reinsurer provides written consent to an extension, the Company will have the number of days specified in Exhibit A-2 from the date of the Reinsurer's final offer in which to place the policy with the insured/owner, after which the Reinsurer's offer will expire without further notice or obligation.

The terms of this Agreement will apply to each accepted facultative offer, unless the offer specifies different terms.

------

**Article 4** 

4.1 **Commencement of Automatic Reinsurance Liability** 

The Reinsurer's liability for any Reinsured Policy accepted automatically will begin simultaneously with the Company's contractual liability for that policy.

4.2 **Commencement of Facultative Reinsurance Liability** 

The Reinsurer's liability for facultative reinsurance will begin simultaneously with the Company's contractual liability if the Company has accepted, during the lifetime of the insured, the Reinsurer's offer of coverage. However, the Reinsurer will be bound to facultative policies that are placed with the Reinsurer by the Company in accordance with the Company's reasonably documented facultative acceptance procedures.

The Reinsurer will have no liability for any application submitted for facultative consideration if the Reinsurer declined facultative coverage or made an offer of coverage that was not accepted by the Company as required by the terms of this Agreement.

4.3 **Conditional Receipt or Temporary Insurance Agreement Liability** 

Automatic reinsurance coverage provided by the Reinsurer for the Company's conditional receipt or temporary insurance agreement will begin simultaneously with the Company's contractual liability and is limited to the Reinsurer's share, as shown in Exhibit A, of amounts accepted within the Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit E.

For facultative applications submitted to the Reinsurer, the Reinsurer's liability under a conditional receipt or a temporary insurance agreement will begin simultaneously with the Company's contractual liability if the Reinsurer has received notice from the Company that the Reinsurer's facultative offer has been accepted. The Reinsurer's liability is limited to its share, as shown in Exhibit A, of amounts accepted within the Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit E.

If the proposed insured dies prior to the completion of the underwriting process, the Reinsurer will continue underwriting the risk to determine if a facultative offer would have been made on the risk. If so, the Reinsurer will accept liability for the risk, subject to the limits specified in the paragraph above.

After a policy has been issued, no reinsurance benefits are payable under this pre-issue coverage provision.

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**Article 5** 

5.1 **Premium Accounting** 

The Company will pay the Reinsurer premiums in accordance with the terms specified in Exhibit C-1.

The method and requirements for reporting and remitting premiums are specified in Exhibit F.

The term *<u>unearned premiums</u>* as used throughout this Agreement means net of allowances and policy fees, if any.

5.2 **Currency** 

All payments due under this Agreement will be made in U.S. Dollars.

5.3 **Non-Payment of Premiums** 

The payment of reinsurance premiums is a condition precedent to the liability of the Reinsurer for reinsurance provided by this Agreement. In the event that undisputed reinsurance premiums are not paid within 60 days of the due date, the Reinsurer may terminate reinsurance for all Reinsured Policies having reinsurance premiums in arrears. If the Reinsurer elects to terminate any Reinsured Policies after such 60 day period, it will then give the Company at least 60 days' prior written notice of its intention to terminate such reinsurance. If all reinsurance premiums in arrears, including any which may become in arrears during such 60 day notice period, are not paid before the end of the notice period, the Reinsurer's obligations for those Reinsured Policies will be limited to obligations relating to events arising on or before the last date for which reinsurance premiums have been paid in full for each Reinsured Policy.

If reinsurance is terminated according to this Article, unearned premiums, net of undisputed outstanding balances, will be paid by the party with the positive balance.

Terminated reinsurance may be reinstated, subject to approval by the Reinsurer, within 30 days of the date of termination, and upon payment of all reinsurance premiums in arrears including any interest accrued thereon. The Reinsurer will have no liability for any claims incurred between the date of termination and the date of the reinstatement of the reinsurance. The Reinsurer's right to terminate reinsurance will not prejudice its right to collect premiums, and applicable interest as specified in Exhibit C, for the period reinsurance was in force, through and including the 60 day notice period.

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**Article 6** 

6.1 **Right of Offset** 

Any undisputed amounts due, by either of the parties to this Agreement, whether they arise out of this Agreement or out of any other reinsurance relationship between the parties, may be offset and only the balance will be allowed or paid. This right will continue to exist after the termination of this Agreement, or of any business relationship between the parties. This right to offset is not diminished by the insolvency of either party.

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**Article 7** 

7.1 **Conversions** 

Subject to the provisions of this Section 7.1, Company shall retain all the risk resulting from the contractual term conversion of any coverage reinsured under this Agreement (other than contractual term conversions of facultative policies), with such converted policies being referred to herein as "Conversion Policies." For the avoidance of doubt, (i) Company shall cede all the risk resulting from the contractual term conversion of facultative policies to the Reinsurer for the term of this Agreement, without the option to submit Elections (as defined below); and (ii) Conversion Policies shall be considered Reinsured Policies for the purposes of this Agreement.

Notwithstanding, Company may elect to cede Conversion Policies at the time of conversion by providing the Reinsurer at least 60 days written notice of its intent to submit such risks ("an Election"). Conversely, if Company is then ceding Conversion Policies, it may make an Election to retain such risks upon providing at least 60 days written notice to the Reinsurer. Company is limited to one Election every two calendar years.

This Section 7.1 shall not apply retroactively to any Conversion Policies converted prior to the effective date of an Election and shall only apply to Conversion Policies on a prospective basis.

In the event any Conversion Policies are ceded to the Reinsurer (or retained by Company) under this Section 7.1, all eligible Conversion Policies must be ceded (or retained by Company) until the Company makes a subsequent Election.

For purposes of illustration, Company may make an Election by giving written notice on or prior to May 2, 2026, of its intent to cede Conversion Policies to Reinsurer effective July 1, 2026. Effective July 1, 2026, all Conversion Policies will be ceded to the Reinsurer; Conversion Policies that were retained by Company prior to July 1, 2026, shall remain retained by Company. If Company later decides to retain such Conversion Policies, the earliest it may make an Election to do so is January 1, 2028, and in such event, it must provide written notice to the Reinsurer by November 2, 2027.

If a Reinsured Policy is converted according to the policy's terms and the applicable provisions of the Business Guidelines, the Company will notify the Reinsurer as specified in Exhibit F. The amount to be reinsured will be determined on the same basis as used for the original Reinsured Policy (excess of retention or quota share) but will not exceed the amount reinsured as of the date of conversion unless mutually agreed otherwise.

Reinsurance will be on a YRT basis using the YRT Rates for Conversions specified in the applicable Exhibit C-1. Premiums are based on the issue age, risk class, and duration of the original policy (i.e. point-in-scale) unless a risk class reconsideration has been applied.

7.2 **Policy Changes** 

"Policy changes" refers to the variety of actions that may be made to a policy after issue. These actions include, but are not limited to, replacements, exchanges, changes in plans, a change in the face amount of the policy or the addition of a covered rider. If there is a change affecting the reinsurance on a Reinsured Policy, the Company will inform the Reinsurer in the subsequent Transaction Report specified in Exhibit F.

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Except as provided in this Article, whenever a Reinsured Policy is changed and the Company's underwriting guidelines do not require that full evidence of insurability be obtained, the terms of this Agreement will apply to the changed Reinsured Policy using point-in-scale rates, whether the change is made before or after any cancellation of this Agreement for new business. The suicide and contestability periods applicable to the original Reinsured Policy will apply to the reissued Reinsured Policy and the duration for premium payment will be measured from the effective date of the original Reinsured Policy.

Whenever a Reinsured Policy is changed and the Company's underwriting guidelines require that full evidence of insurability be obtained and the suicide and contestability periods will be based on the reissued policy date, unless otherwise required by applicable law, the terms of this Agreement will apply to the changed Reinsured Policy if the change is made before cancellation of this Agreement for new business. Such Reinsured Policy changes taking place after the Agreement is cancelled for new business will not be reinsured without the Reinsurer's prior written consent. Unless otherwise agreed, first year premium rates and allowances as specified in Exhibit C-1 will apply to the amount underwritten as well as for a non-contractual increase.

Policy changes to Reinsured Policies will be subject to the Reinsurer's prior written approval, if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The new ultimate face amount of the policy, including any contractual increases, would be in excess of the
Automatic Binding Limit in effect at the time of the change, as set out in Exhibit E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The new ultimate face amount of the policy, including any contractual increases, and the amount already in
force in all companies on the same life exceeds the Jumbo Limit stated in Exhibit E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The policy was reinsured on a facultative basis, unless the policy change is only a reduction in death benefit
amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Evidence of insurability is not obtained if required in the Company's underwriting guidelines; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) If the change includes a policy with features such as, but not limited to, riders or options that are different
from the original policy.

7.3 **Reductions** 

Unless specified otherwise in this Agreement, if the amount of a Reinsured Policy is reduced, then the amount of reinsurance on that Reinsured Policy will be reduced effective the same date by the same proportion as the reduction under the original Reinsured Policy.

If the reinsurance for a Reinsured Policy has been placed with more than one reinsurer, the reduction will be applied to all reinsurers pro rata to the amounts originally reinsured with each reinsurer.

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The Company's retention shall only be calculated upon a policy's issue date. A subsequent reduction to one of the Company's policies (whether reinsured or not reinsured hereunder) will not require the Company to recalculate and/or maintain its required retention as specified in Exhibit D of this Agreement.

In the event of the reduction of a policy or policies reinsured under this Agreement, the Reinsurer will refund any unearned reinsurance premiums.

7.4 **Lapses** 

When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date.

If a policy issued by the Company lapses and reduced paid-up insurance is elected under the terms of that policy, the amount of the corresponding reinsurance on the Reinsured Policy will be reduced according to the terms of Article 7.3.

If the Company allows the policy to remain in force under its automatic premium loan regulations, the corresponding reinsurance on the Reinsured Policy will continue unchanged and in force as long as such regulations remain in effect, except as otherwise provided in this Agreement.

7.5 **Reinstatements** 

If a policy reinsured on an automatic basis is reinstated according to its terms and the Company's reinstatement rules, the Reinsurer will automatically reinstate the reinsurance. The Reinsurer's approval is required for the reinstatement of reinsurance on a facultative policy if the Company's regular reinstatement rules indicate that evidence of insurability, in addition to a statement of good health, is required.

To the extent the Reinsured Policy requires payment of premiums in arrears, the Company will pay all reinsurance premiums in arrears on reinstated policies and such premiums will be subject to Article 16.8 and Exhibit F.

7.6 **Reinsurance Limits** 

The Company will not submit a policy to the Reinsurer unless the amount of reinsurance on the policy equals or exceeds the Minimum Initial Reinsurance Limit ceded to the Reinsurer as specified in Exhibit C.

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**Article 8** 

8.1 **Retention Limit Change** 

The Company may change its retention limit (hereinafter "Retention Limit") at any time by providing the Reinsurer with written notice of the new Retention Limit at least 30 days prior to the effective date. Changes to the Company's Retention Limits in Exhibit D will not affect the Reinsured Policies in force at the time of such a change except as specifically provided for elsewhere in this agreement and will not affect the Automatic Binding Limit or Jumbo Limit in Exhibit E unless mutually agreed in writing by the Company and the Reinsurer.

If the Company decreases its Retention Limit, no reinsurance may be ceded on an automatic basis until the parties have reviewed and either expressly affirmed or revised the terms specified in the applicable Exhibit and the Automatic Binding Limit set out in Exhibit E.

8.2 **Rate Increases** 

The reinsurance rates as set out in Exhibit C-1 are guaranteed for one policy year. The Reinsurer reserves the right to increase the rates for reinsurance but not to exceed the valuation net premiums for YRT insurance calculated using the minimum statutory mortality rates and the maximum statutory interest rate for each year of issue. The Reinsurer will inform the Company of a rate increase at least 90 days before it takes effect. The percentage rate increase will apply to each policy on its next policy anniversary date beginning on the effective date of the increase.

If the Company raises its retail premiums or cost of insurance charges on any in force business reinsured under this Agreement, it shall provide the Reinsurer with 30 days prior written notice of the increase. The Reinsurer reserves the right to increase rates on such business by a corresponding amount by informing the Company of its intention to do so (i) within 30 days of the Company's notice. The increase to the reinsurance premium rates will apply to each policy at the same time as the increase by the Company.

8.3 **Recapture** 

The Company may recapture if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company increases its Retention Limit to reduce the amount of in force reinsurance ceded on an automatic
basis provided, however, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) No recapture is made until the Reinsured Policy has been in force through the end of the level premium period.
For a conversion, the recapture terms of the original policy will apply and the duration for the recapture period will be measured from the effective date of the original policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Recapture will be effected on the next anniversary of each Reinsured Policy eligible for recapture unless
agreed otherwise by both parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The Company gives the Reinsurer 30 days prior written notice of its intention to recapture; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The Company has maintained, from the time the policy was issued, its quota share retention as set out in
Exhibit D.

The amount of reinsurance eligible for recapture from the Reinsurer will be the Reinsurer's share of the reinsurance times the difference between the amount originally retained and the amount the Company would have retained on the same quota share basis had the new retention been in effect at the time of issue. If there is reinsurance with other reinsurers on risks eligible for recapture, the reduction will be applied pro rata to the total outstanding reinsurance. In applying its increased Retention Limit to Reinsured Policies, the age and mortality rating at the time of issue will be used to determine the amount of the Company's increased retention.

If such recapture is elected by the Company, all business eligible must be recaptured in a consistent manner.

The parties' obligations for any recaptured business will be limited to those relating to events or circumstances arising or occurring before the recapture date. If a cession eligible for recapture has been overlooked by the Company, the liability of the Reinsurer will be limited to the refund of the amount of premiums accepted by the Reinsurer after the date of recapture, less allowances or claims paid, if any, for the overlooked amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Reinsurer does one of the following, regardless of the Reinsured Policies' duration in force:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Increases its reinsurance premium rates on any block of in-force business under this agreement on which the Company has not raised its retail premiums or cost of insurance charges; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Increases its reinsurance premium rates on any block of in force business by an amount greater than the
corresponding increase made by the Company to its retail premiums or cost of insurance charges.

If the Company elects to recapture, it must notify the Reinsurer of its intention to do so before the rate increase takes effect. The recapture will be effective on the next anniversary of each Reinsured Policy eligible for recapture unless agreed otherwise by both parties. Upon recapture pursuant to this provision, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

The Company shall not be liable for a fee to recapture reinsurance. Recapture will be effected by way of the Company not remitting applicable premiums.

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**Article 9** 

9.1 **Claims Notice and Consultation** 

The Company is responsible for the settlement of claims in accordance with applicable law and policy terms. It is the Company's sole decision to determine whether a claim is payable under the policy.

The Reinsurer agrees to accept the determination of the Company based on the Company's standard claims practices and subject to the terms of this Agreement. For purposes of this Article, Reinsured Policies include conditional receipts and temporary insurance agreements covered under the terms of this Agreement.

It is a condition to the Reinsurer's obligation to pay a claim that the Company notify the Reinsurer in writing as soon as possible. A Late Reported Claim is a claim where the Company has not notified the Reinsurer within three years of the Company's receipt of notice of the claim. In the event of multiple or repetitive Late Reported Claims of a material nature, the Reinsurer's liability with respect to such claims will be limited to a refund of the reinsurance premium paid by the Company.

The Company may request a recommendation from the Reinsurer on any claim on a Reinsured Policy.

9.2 **Claim Proofs** 

The parties agree to apply the Reinsurer's Document Reduction Program (DRP) to claims which fall under the terms of this Agreement and meet the criteria described below.

The Company will provide the Reinsurer with the following documentation of the claim as specified below, if the face amount of the claim is greater than $1,000,000:

1) Copies of claimant statements

2) A copy of the certified death certificate

3) Proof of claim payments

The DRP will not apply to the following claims:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Claims where the death of the insured occurred outside of the United States, Canada, Puerto Rico, or Guam; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Claims where the face amount of the claim exceeds $1,000,000; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Claims where an accidental death payment is payable; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Claims for accelerated death benefits; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Claims where fraud is identified; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Claims in litigation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Claims where an exception to standard claims practices is made.

The Reinsurer will continue to receive all data elements currently required and received through the Company's TAI system for reinsured claims under the DRP. The data elements required for each claim will include, but are not limited to:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Insured's Name,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Policy Number,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Issue Date,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Policy Duration,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Face Amount,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Net Amount at Risk,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Post Mortem Interest to be paid on the claim (including from and to dates and interest rate used),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h) Investigation and other expenses to be paid on claim,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) Legal expenses to be paid on claim,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) Date of Birth,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k) Gender,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l) Date of Death,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m) Cause of Death (if available),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n) Location of Loss

The Reinsurer reserves the right to request additional documentation at any time from the Company for any claim. The Company agrees that it will continue to obtain the usual proof of death on all claims.

The Reinsurer has the right to audit the Company's claims paying practices and procedures on claims that fall within the DRP criteria outlined above.

**9.3** **Claims Payment** 

The Reinsurer will be liable to the Company for its share of the benefits owed under the express contractual terms of the Reinsured Policies and as specified under the terms of this Agreement. The Reinsurer will not participate in any ex gratia payments made by the Company (i.e., payments the Company is not required to make under the Reinsured Policy terms.) The payment of death benefits by the Reinsurer will be in one lump sum regardless of the mode of settlement under the Reinsured Policy. Benefit payments from the Reinsurer will be due within 30 days of the claim satisfying the requirements established under this Agreement. The Reinsurer's share of any interest payable under the terms of a Reinsured Policy or applicable law which is based on the death benefits paid by the Company will be payable provided that the Reinsurer will not be liable for interest accruing on or after the date of the Company's payment of benefits nor for interest paid on premium refunds, policy dividends, or any other component other than the death benefit. The Reinsurer's share will be based upon the net amount at risk at the time of death and at the same interest rate and days used by the Company to calculate their interest paid.

The Reinsurer will make payment to the Company for each such claim.

For claims on Accelerated Benefit riders reinsured under this Agreement, the benefit amount payable by the Reinsurer will be calculated by multiplying the total accelerated death benefit rider payout by the ratio of the Reinsured Amount at Risk, as defined in Exhibit C-1, to the face amount of the Reinsured Policy.

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9.4 **Claims Practices** 

It is the Company's sole decision to determine whether to investigate, contest, compromise or litigate a claim; however, the Company is responsible for investigating, contesting, compromising or litigating Reinsured Policy claims in accordance with applicable law and policy terms.

The Company obtains certified death certificates for death claims that are over $500,000 and accepts a copy of the non-certified death certificate for death claims of $500,000 or less.

9.5 **Contested Claims** 

The Company will notify the Reinsurer promptly of its intention to investigate, contest, compromise, or litigate any claim involving a Reinsured Policy (hereinafter a "Contested Claim"). If the Reinsurer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) does not support the contest of the Contested Claim, the Reinsurer will pay the Company its full share of the
reinsurance benefit, and will not share in any subsequent reduction or increase in liability or in any subsequent expenses incurred by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) does not object to the Company's decision to contest the Contested Claim pursuant to (a) above, then
the Company will promptly advise the Reinsurer of all significant developments, including notice of legal proceedings (including, but not limited to, consumer complaints or actions by governmental authorities) initiated in connection with the
Contested Claim. If the Contested Claim results in a reduction or increase in liability, the Reinsurer will share in any reduction or increase in proportion to its share of the risk on the Contested Claim.

If the Company returns premiums to the policy owner or beneficiary as a result of rescinding a policy, or if the Company pays a suicide benefit, the Reinsurer will refund net reinsurance premiums received on that policy to the Company.

9.6 **Claims Expenses** 

The Reinsurer will pay its proportionate share of reasonable investigation and legal expenses incurred in investigating, adjudicating or litigating a claim, except as otherwise provided in Section 9.7.

9.7 **Extra-Contractual Obligations** 

For purposes of this Agreement, "Extra-Contractual Obligations" are any obligations or expenses other than contractual obligations incurred by the Company, its affiliates, directors, officers, employees, agents or other representatives and arising under the express written terms and conditions of a policy, including but not limited to, punitive damages, bad faith damages, compensatory damages, and other damages or fines or penalties which may arise from the acts, errors or omissions of the Company or its affiliates, directors, officers, employees, agents or other representatives.

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The Reinsurer is not liable for Extra-Contractual Obligations associated with a Contested Claim unless it concurred in writing and in advance with the claim actions which were the basis for the Extra-Contractual Obligations. In these situations, the Company and the Reinsurer will share in Extra-Contractual Obligations, in equitable proportions, but all factors being equal, the Reinsurer's assessments would be in proportion to the risk accepted for the Reinsured Policy involved.

The Reinsurer will not be liable for any Extra-Contractual Obligations resulting from the Company's failure to implement the agreed upon course of action or comply with procedural deadlines, such as the filing of timely pleadings or meeting court or statutory deadlines.

9.8 **Misstatement of Age or Sex** 

In the event of a change in the amount payable under a Reinsured Policy due to a misstatement in age or sex, the Reinsurer's liability will change proportionately, subject to the terms of this Agreement. The Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and amounts at risk for the correct ages and sex, and the proper adjustment for the difference in reinsurance premiums, without interest, will be made.

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**Article 10** 

10.1 **Errors and Omissions in Administration of Reinsurance** 

Any unintentional or accidental failure to comply with the terms of this Agreement which can be shown to be the result of an oversight or clerical error relating to the administration of reinsurance by either party will not constitute a breach of this Agreement. Upon discovery, the error will be promptly corrected so that both parties are restored to the position they would have occupied had the oversight or clerical error not occurred. In the event a payment is corrected, the party receiving the payment may charge interest, calculated according to the terms specified in Exhibit C. Should it not be possible to restore both parties to this position, the party responsible for the oversight or clerical error will be responsible for any resulting liabilities and expenses.

If the Company has failed to cede reinsurance as provided under this Agreement or has failed to comply with reporting requirements with respect to business ceded hereunder, the Reinsurer may require the Company to audit its records for similar errors and take reasonable actions necessary to correct errors and avoid similar errors.

10.2 **Dispute Resolution** 

As a condition to the parties' right to arbitration under this Agreement, either the Company or the Reinsurer will give written notification to the other party of any dispute relating to or arising from this Agreement, including, but not limited to, the formation or breach thereof. Within 30 days of notification, both parties must designate an officer of their respective companies to attempt to resolve the dispute. The officers will meet at a mutually agreeable location as soon as possible and as often as necessary to attempt to negotiate a resolution of the dispute. The format for discussions will be determined mutually by the officers.

If these officers are unable to resolve the dispute within 30 days of their first meeting, the parties may agree in writing to extend the negotiation period for an additional 30 days. If the matter is not resolved within 30 days of the first meeting or the additional 30 day period, if any, then either party may demand arbitration pursuant to Article 10.3. The discussions and all information exchanged for the purposes of such discussions will be confidential and without prejudice.

10.3 **Arbitration** 

If the Company and the Reinsurer are unable to resolve any dispute arising from this Agreement, including but not limited to the formation or breach thereof, pursuant to Article 10.2, the matter will be referred to arbitration.

The arbitration will be held in Minneapolis, Minnesota, or another place as the parties may mutually agree, and the Governing Law specified in Article 16.7 shall govern the arbitration panel's interpretation and application of this Agreement.

Unless the parties agree otherwise, all disputes shall be submitted to an arbitration panel composed of two arbitrators and an umpire chosen in accordance with the procedures set forth below.

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The members of the arbitration panel shall be disinterested persons who are (a) current or former officers of life insurance or reinsurance companies, other than the parties to this Agreement, their affiliates or subsidiaries, or (b) professionals with no less than 10 years of experience in or serving the life insurance or reinsurance industries; provided, however, the experience in the life insurance or reinsurance industries was not as an employee of the parties to this Agreement, their affiliates or subsidiaries.

The party requesting arbitration (hereinafter referred to as the "claimant") shall appoint an arbitrator and give written notice thereof by certified mail or by a courier service producing evidence of receipt by the receiving party, to the other party (hereinafter referred to as the "respondent") together with its notice of intention to arbitrate. Within 30 days after receiving such notice, the respondent shall also appoint an arbitrator and notify the claimant thereof by certified mail or by a courier service producing evidence of receipt by the receiving party. If the respondent fails to appoint an arbitrator within 30 days after receiving a notice of intention to arbitrate, the claimant's arbitrator shall appoint an arbitrator on behalf of the respondent.

Before instituting a hearing, the two arbitrators so appointed shall choose an umpire. If, within 30 days after the appointment of the arbitrator chosen by the respondent, the two arbitrators fail to agree upon the appointment of an umpire, the parties agree to refer the matter to Judicial Arbitration and Mediation Services ("JAMS") for the appointment of the umpire. In the event the matter is referred to JAMS, as respects the umpire, the parties agree to waive the requirement that the umpire candidates be (a) current or former officers of life insurance or reinsurance companies, other than the parties to this Agreement, their affiliates or subsidiaries, or (b) professionals with no less than 10 years of experience in or serving the life insurance or reinsurance industries, and agree to the appointment of a retired state or federal judge as the umpire.

JAMS shall send the parties a list of umpire candidates comprised of at least five (5) retired state or federal judges. JAMS shall also provide each party with a brief description of the background and experience of each umpire candidate.

Within seven (7) calendar days of service upon the parties of the list of names, each party may strike two (2) names, and shall rank the remaining umpire candidates in order of preference. The remaining umpire candidate with the highest composite ranking shall be appointed the umpire.

Any disclosures regarding the selected umpire shall be made as required by law or within ten (10) calendar days from the date of appointment. Such disclosures may be provided in electronic format, provided that JAMS will produce a hard copy to any party that requests it. The parties and their representatives shall disclose to JAMS any circumstance likely to give rise to justifiable doubt as to the umpire's impartiality or independence, including any bias or any financial or personal interest in the result of the Arbitration or any past or present relationship with the parties or their representatives. The obligation of the umpire, the Parties and their representatives to make all required disclosures continues throughout the Arbitration process.

Within 30 days after the notice of appointment of all arbitrators, the panel shall schedule an organizational meeting, and determine a timely period for discovery, discovery procedures and schedules for hearings. The panel shall have the power to fix all procedural rules relating to the arbitration proceeding.

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The customs and practices of the life insurance and reinsurance industries may be considered by the Panel if the Agreement does not address an issue raised by the parties or the Panel finds the Agreement to be ambiguous, but only insofar as such customs and practices are consistent with the terms of this Agreement, and only then if it is permitted by the applicable law that the panel is bound to follow.

The Panel will award the remedy sought by the party seeking relief to the extent the remedy is provided for in this Agreement or otherwise reasonably compensates the damaged party for the economic effect of any demonstrated breach. Such remedies may include, but will not be limited to, monetary damages, revisions to the terms of the Agreement, including adjustments to premiums or allowances paid or to be paid, or any combination of the foregoing. In no event shall the Panel have the authority to award punitive or exemplary damages.

The Panel shall issue an order, appropriate for confirmation in a court of competent jurisdiction, to resolve all matters in dispute. In addition, the Panel shall issue a written opinion setting forth the reasons for the award, with citations to the record of the hearing that support the reasoning.

The decision of the Panel will be final and binding upon the parties and their respective successors and assigns. Each party hereby consents to the entry of a judgment confirming or enforcing the award in the United States District Court for the District of Minnesota and/or in any other court of competent jurisdiction.

Within 20 days after the transmittal of an award, either party, upon notice to the other party, may request the Panel to correct any clerical, typographical, or computational errors in the award. The other party will be given ten days to respond to the request. The Panel will dispose of the request within 20 days of its receipt of such request and any response thereto. The Panel will not be empowered to re-determine the merits of any claim already decided.

Each party will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Bear its own fees and expenses in connection with the arbitration, including the fees of any outside counsel,
its party appointed arbitrator and witness fees, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Share equally in the fees of the umpire, the fees or charges, if any, related to the appointment of the umpire
by JAMS, and the costs of the arbitration, such as hearing rooms, court reporters, etc.

It is the intent of the parties that these arbitration provisions replace and be in lieu of any statutory arbitration provision, if permitted by law.

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**Article 11** 

11.1 **Insolvency** 

A party to this Agreement will be deemed "insolvent" when it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory
successor (hereinafter referred to as the "Authorized Representative") of its properties or assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Is adjudicated as bankrupt or insolvent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Files or consents to the filing of a petition in bankruptcy, seeks reorganization or an arrangement with
creditors or takes advantage of any bankruptcy, dissolution, liquidation, rehabilitation, conservation or similar law or statute; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Becomes the subject of an order to rehabilitate or an order to liquidate as defined by the insurance code of
the jurisdiction of the party's domicile.

In the event of the insolvency of the Company, all reinsurance ceded, renewed or otherwise becoming effective under this Agreement will be payable by the Reinsurer directly to the Company or to its Authorized Representative on the basis of the liability of the Company for benefits under the Reinsured Policies without diminution because of the insolvency of the Company.

The Reinsurer will be liable only for benefits reinsured as benefits become due under the terms of the Reinsured Policies and will not be or become liable for any amounts or reserves to be held by the Company as to the Reinsured Policies or for any damages or payments resulting from the termination or restructure of the Policies that are not otherwise expressly covered by this Agreement. The Company or its Authorized Representative will give written notice to the Reinsurer of all pending claims against the Company on any Reinsured Policies within a reasonable time after filing in the insolvency proceedings. While a claim is pending, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceedings where the claim is to be adjudicated, any defense or defenses which it may deem available to the Company or its Authorized Representative.

The expense incurred by the Reinsurer will be chargeable, subject to court approval, against the Company as part of the expense of its insolvency proceedings to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer. Where two or more reinsurers are involved in the same claim and a majority in interest elect to interpose a defense to such claim, the expense will be apportioned in accordance with the terms of the Agreement as though such expense had been incurred by the Company.

In the event of the insolvency of the Reinsurer, the Company may cancel this Agreement for new business by promptly providing the Reinsurer or its Authorized Representative with written notice of cancellation, to be effective as of the date on which the Reinsurer's insolvency is established by the authority responsible for such determination. Any requirement for a notification period prior to the cancellation of the Agreement would not apply under such circumstances.

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In addition, in the event of the insolvency of the Reinsurer, the Company may provide the Reinsurer or its Authorized Representative with written notice of its intent to recapture all reinsurance in force under this Agreement regardless of the duration the reinsurance has been in force or the amount retained by the Company on the Reinsured Policies. The effective date of a recapture due to insolvency will be at the election of the Company and at any date after the insolvency (as defined above) of the Reinsurer. If the Company elects to recapture reinsurance under this Article, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

In the event of the insolvency of either party, the rights or remedies of this Agreement will remain in full force and effect.

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**Article 12** 

12.1 **Premium Tax** 

The Reinsurer will not reimburse the Company for premium taxes.

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**Article 13** 

13.1 **Entire Agreement** 

This Agreement and the Exhibits hereto constitute the entire agreement between the parties with respect to the business reinsured hereunder and supersede any and all oral or written prior or contemporaneous representations, warranties, statements of intent, courses of dealing, agreements or understandings between the parties pertaining to the subject matter of this Agreement, including the Reinsurer's right to increase rates as set forth in this Agreement and the Exhibits ("Understandings"). There are no Understandings between the parties other than as expressed in this Agreement and the Exhibits hereto. In the event of any express conflict between the Agreement and the Exhibits hereto, the Exhibits hereto will control.

Any change or modification to this Agreement and the Exhibits hereto will be null and void unless made by written amendment and signed by both parties.

13.2 **Inspection of Records** 

The Reinsurer or its duly appointed representatives will have access to records of the Company, whether written or electronic, concerning the business reinsured hereunder for the purpose of inspecting, auditing and photocopying those records. The Reinsurer's inspection, audit or photocopying of records will be limited to records related to the business reinsured under this Agreement, including but not limited to, underwriting, claims and administration and will not apply: (1) to records related to the reinsurance bidding process for this Agreement; (2) to privileged information; or (3) during the pendency of any related arbitration.

Company or its duly appointed representatives will have access to records of the Reinsurer, whether written or electronic, concerning the business reinsured hereunder for the purpose of inspecting, auditing and photocopying those records. The Company's inspection or auditing of such records will be limited to records related to the administration, underwriting, and claims processing under this Agreement and will not apply: (1) to records related to facultative cessions for which no offer was made by the Reinsurer or accepted by the Company; (2) to records related to retrocession (3) to privileged information; (4) during the pendency of any related arbitration; (5) records related to the reinsurance bidding process for this Agreement; (6) to financial and other records related to the Agreement's performance; or (7) to analysis related to the Company's business procedures and practices.

Subject to reasonable notice provided by the inspecting party, such access will be provided at the office of the party being inspected and will be during reasonable business hours. Subject to the limitations set forth above, assuming the party inspecting records has continued to perform its undisputed portion of its obligations under this Agreement, the party being inspected may not withhold access to information and records on the grounds that the inspecting party is in breach.

The right of access as specified above will survive until all of the obligations under this Agreement have terminated or been fully discharged.

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13.3 **Utmost Good Faith** 

All matters with respect to this Agreement require the utmost good faith of each of the parties.

13.4 **Confidentiality** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As used herein, "Company trade secret information" means any information or compilation of
information possessed by the Company, its affiliates or subsidiaries, which derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can
obtain economic value from its disclosure or use. Without limiting the generality of the foregoing, "Company trade secret information" includes but is not limited to: (i) all information concerning member, client and prospect
programs; (ii) information concerning Company's existing business, business systems, business and marketing plans and information systems; (iii) information concerning the Company contained in the Company's databases; (iv) the
nature of the work to be performed by the Reinsurer for the Company; (v) all "nonpublic personal information" (as hereinafter defined) about the Company's executives, officers, Board of Directors, employees, agents or
subcontractors; (vi) all information protected by rights embodied in copyrights, whether registered or unregistered (including all derivative works), patents or pending patent applications, and any other intellectual property rights of the
Company; and (vii) any attorney-client work-product privileged information; *provided, however*, that this Section 13.4(a) shall not apply to information which is: (i) in the public domain through no fault of the Reinsurer;
(ii) already known to the Reinsurer without obligations of confidentiality prior to its receipt from the Company; (iii) developed independently by the Reinsurer without use of Confidential Information received from the Company; or
(iv) received from a third party without similar restriction and without breach of this or a similar agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As used herein, "Customer Information" means all information possessed by the Company, in whatever
form, whether or not identified as such, pertaining to its members, clients, customers and other individuals seeking to obtain products, services or benefits from the Company, including information concerning or related to proposed, current and
former policy owners, insureds, applicants and beneficiaries of policies issued by the Company. Customer Information includes, but is not limited to: (i) all information contained in the Company's member, client and customer lists;
(ii) all information specifically designated as being personal or confidential; and (iii) all "nonpublic personal information," as that term is defined in Title V of the federal Financial Services Modernization Act of 1999 as
amended, and all "personal information," as that term is defined in the California Consumer Privacy Act of 2018 as amended, or as such terms (or similar terms) are defined by any other foreign (as applicable), federal or state law; *provided, however*, that this Section 13.4(b) shall not apply to information that is in the public domain through no fault of the Reinsurer (information that is in the public domain shall mean information that is lawfully made available
from federal, state, or local governmental records).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As used herein, "Company trade secret information" and "Customer Information" shall be
defined collectively as "Confidential Information".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Reinsurer acknowledges that the use, privacy and security of Confidential Information is regulated by
various foreign, federal, state and local laws, rules, regulations, and self-regulatory frameworks (collectively, "Laws"). With respect to Confidential Information, the Reinsurer warrants and represents that it shall comply with any such
applicable Laws regarding the use, privacy and security of such Confidential Information. If a charge of non-compliance by the Reinsurer occurs with respect to any applicable Laws, or if the Reinsurer
determines that it can no longer meet its obligations under applicable Laws, the Reinsurer shall promptly notify the Company of such charges/determination in writing and promptly remediate the event, action and circumstances giving rise to such
charge/determination. The Reinsurer will maintain all of the Company's Confidential Information in strict confidence, and will not at any time or for any reason disclose any Confidential Information to any non-permissible third party without the prior written consent of the Company, and even then, the Reinsurer shall limit access to and disclosure of such Confidential Information to such third party's
employees and consultants on a "need to know" basis only, which basis is only that which is required for the performance of the Reinsurer's obligations hereunder. The Reinsurer's retrocessionaire(s), as applicable to the
business reinsured hereunder, are permissible third parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Reinsurer will not use any of the Company's Confidential Information for any purpose whatsoever
except for the purposes necessary to fulfill its obligations as set forth under this Agreement or as otherwise permitted by this Agreement. The Reinsurer agrees to ensure, by agreement, instruction or otherwise, compliance with the same restrictions
and conditions that apply throughout this Agreement by its employees, agents, consultants, and others who are permitted access to or use of Confidential Information; where the Reinsurer permits a subcontractor to access or use the Confidential
Information, the Reinsurer agrees to ensure by written agreement the subcontractor's compliance with the same restrictions and conditions that apply throughout this Agreement. All Company Confidential Information shall remain the sole and
exclusive property of the Company. No right, title or interest in the Confidential Information shall be conveyed by release of the Confidential Information. No Company Confidential Information shall be sold, assigned, leased or otherwise disposed of
to third parties by the Reinsurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Reinsurer shall implement appropriate safeguards to ensure the security and protect against unauthorized
access to or use of the Company's Confidential Information. The Reinsurer shall implement and comply with all appropriate and reasonable administrative, physical, and technical safeguards as required by Applicable Laws that protect the
confidentiality, integrity, and availability of Confidential Information that it stores, creates, receives, uses, maintains or transmits on behalf of the Company. The Reinsurer shall ensure by agreement and practice that any employee, agent,
subcontractor, consultant, retrocessionaire, or any others who are permitted access to the Company's Confidential Information agrees to implement reasonable and appropriate safeguards to protect it that are at least as stringent and
comprehensive as those set forth in this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) At the request of the Company, the Reinsurer will provide to the Company documentation (i) describing the
safeguards the Reinsurer has implemented to protect the confidentiality, integrity, and availability of Confidential Information, and (ii) verifying that the use of the Company's Confidential Information complies with this Agreement and all
applicable Laws; the Company may visit the Reinsurer's site to inspect these safeguards and/or receive information regarding these safeguards from the Reinsurer. In the event the Company, the Reinsurer, or an independent third-party identifies
one or more material vulnerabilities ("Vulnerabilities") in the Reinsurer's safeguards, the Reinsurer shall (at its sole cost and expense) take reasonable steps to remediate the identified Vulnerabilities; the Reinsurer shall
provide the Company with contemporaneous updates relating to the corrective actions being taken to remediate the Vulnerabilities, and shall provide, at the Company's request, and at no additional cost to the Company, a written attestation that
such Vulnerabilities have been satisfactorily remediated. If the Reinsurer is required by law (i.e., a civil, criminal, or regulatory inquiry, investigation, subpoena, or summons by foreign, federal, state, or local authorities) to disclose any
Confidential Information, the Reinsurer shall, if legally permitted, notify the Company immediately and shall cooperate with the Company, at the Company's expense, in responding to the request, which could include seeking a reasonable
protective order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Reinsurer agrees to return (or if specifically requested to do so by the Company, destroy and provide proof
of destruction) the Confidential Information or any part thereof (i) upon request of the Company, or (ii) subject to any retention obligations contained elsewhere in this Agreement, upon the Reinsurer's determination that it no
longer has a need for such Confidential Information. The Reinsurer shall implement and follow secure disposal procedures in accordance with any and all applicable Laws. The Reinsurer may maintain additional limited copies of any Confidential
Information for the limited purposes of backup and disaster recovery; however, all protections under this Agreement will be extended to such Confidential Information, and further use and disclosure may only be permitted for backup and disaster
recovery purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Reinsurer agrees to promptly notify the Company (but in no event more than forty-eight (48) hours
after the occurrence) if it becomes aware of or discovers, or reasonably suspects, any use or disclosure of the Confidential Information that is not authorized by this Agreement. Notification to the Company shall be communicated to the designated
the Company contact by telephone (920-628-2359) and subsequently via written letter (Attn: Privacy Office) and email (<u>privacy@thrivent.com</u>), and shall include all
information available to allow the Company to provide or delegate notification of breach consistent with applicable foreign, federal and state law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Reinsurer further acknowledges and agrees that unauthorized disclosure, dissemination or use of the
Company's Confidential Information without the Company's prior written consent, or that is not otherwise permitted under this Agreement, may constitute a serious violation of applicable Laws, as well as a breach of this Agreement, and
may subject the Company to claims and damages, including attorney's fees, for which the Reinsurer hereby agrees to be responsible and will indemnify the Company with regard to a breach of the Company's Confidential Information. In
addition, the Reinsurer agrees to be responsible and reimburse the Company for all costs related to providing notice to customers and individuals affected, identity theft protection, and any and all claims, fines, and damages related to the breach.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Reinsurer agrees that if there is a breach or threatened breach of the provisions of this Article, the
Company will not have an adequate remedy in money or damages and will be entitled to injunctive relief and/or specific performance; provided, however, no specification in this Article of any particular remedy shall be construed as a waiver or
prohibition of any other remedies in the event of a breach or threatened breach of this Agreement. In the event that the Company determines that the Reinsurer has breached any material provision of this Agreement that applies to Confidential
Information, the Company shall notify the Reinsurer and the Reinsurer shall, provided the breach is subject to cure, satisfactorily address any such breach within thirty (30) days. If the Company determines, in its sole reasonable discretion,
that the Reinsurer has failed to remediate such breach within the thirty (30) day period, the Company has the right to terminate this Agreement. Notwithstanding this, the Company may not unreasonably fail to recognize a cured breach in an
effort to terminate this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The specific terms and conditions of this Agreement are confidential and shall not be disclosed by a party to
any third party without prior written approval of the other party, except as necessary for retrocession, risk management or financing purposes, external audit, court order, or as required by law or regulation. This obligation of confidentiality is
mutual to both the Company and the Reinsurer.

13.5 **Security** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Security of Confidential Information. The Reinsurer shall, and shall ensure that its personnel and third-party
contractors, safeguard and prevent the unauthorized disclosure of the Company's Confidential Information as defined in and in accordance with this Agreement and Section 13.4, Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Regulatory Compliance. The Reinsurer shall, and shall ensure that its personnel and third-party contractors
(including any applicable retrocessionaires), (i) comply with applicable foreign, federal, state and local laws, rules, and regulations relating to the privacy, confidentiality, protection, retention, continuity, availability, and security of the
Company's Confidential Information, and (ii) only access and use the Company's Confidential Information as necessary to fulfill its obligations as set forth under this Agreement or as otherwise permitted by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) ISO 27001 Compliance. The Reinsurer agrees that all systems and technologies of the Reinsurer, the Reinsurer
personnel, and third-party contractors which store, access, transmit, create, receive or maintain the Company's Confidential Information conform to ISO 27001's standards and controls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Incident Notification. The Reinsurer shall promptly (but in no event more than forty-eight (48) hours
after becoming aware of or discovering) notify the Company of any use or disclosure of the Company's Confidential Information that is not authorized by this Agreement, or if the Confidential Information is reasonably likely to have been
accessed or used without authorization. Notification shall be communicated to the designated Company contact by telephone (920-628-2359), and subsequently via written
letter (Attn: Privacy Office) and email (privacy@thrivent.com), and shall include the approximate date and time of the occurrence and a summary of relevant facts, including a description of the impacted data and the measures being taken to address
the occurrence.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Verification of Breach Resolution. The Reinsurer shall provide contemporaneous updates relating to the
corrective actions being taken to resolve any such data breach, in addition to mitigating action to prevent future similar data breaches from occurring. If appropriate, the Company may request, and the Reinsurer shall provide at no additional cost
to the Company, a third-party verification of such breach resolution before resuming or conducting future business with the Reinsurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Security Accreditation. Upon request by the Company, no more than once per year, the Reinsurer shall provide
the Company with responses to a data security questionnaire. In the event Reinsurer has an audit report prepared by an independent third-party auditor that evaluates its controls related to, among other things, security, availability, processing
integrity, confidentiality, and privacy over a specified period (i.e., a SOC 2 type 2 Audit Report), Reinsurer will provide a copy to Company annually upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Right to Perform Due Diligence and Assessments. The Reinsurer agrees to cooperate with the Company's
reasonable requests to perform due diligence and assessments, including but not limited to (i) responding in good faith to reasonable requests to change or modify this Agreement as it relates to the Company's regulatory compliance, and
responding in good faith to any requests due to the Company fulfilling its compliance with state or federal legal requirements to perform Due Diligence and Assessments, and promptly responding to Company's requests for assistance in responding
to regulatory inquiries and investigations, (ii) providing information, including system audit information and incident response information, if any, to validate ongoing compliance by the Reinsurer, the Reinsurer personnel, and third-party
contractors when applicable with the security (e.g., the adequacy of required controls and practices performed) and confidentiality obligations hereunder, and (iii) providing Company with audit reports by qualified auditing entities, if any,
upon request by Company, if Reinsurer leverages artificial intelligence to fulfill its obligations as set forth under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Reinsurer agrees to establish, implement and periodically test commercially reasonable business continuity,
cybersecurity and disaster recovery plans as are customary in the case of companies in similar lines of business of comparable size, complexity and type as the Reinsurer. Company shall be entitled to review an executive summary of such policies and
plans upon reasonable advance notice to Reinsurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Location and Control of Services. The method and means of providing the Services shall be under the exclusive
control, management, and supervision of the Reinsurer. The Services (including data storage), shall be provided solely in the continental United States and/or Canada and on computing equipment and data storage device residing therein.

13.6 **OFAC Compliance** 

The parties represent that they are using, and shall use, best efforts to continue to be in compliance with all laws, regulations, judicial and administrative orders applicable to the Reinsured Policies as they pertain to the sanction laws administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC"), as such laws may be amended from time to time (collectively the "Laws"). Neither party shall be required to take any action under this Agreement that would violate said Laws, including, but not limited to, making any payments in violation of the Laws.

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Should either party discover or otherwise become aware that a reinsurance transaction has been entered into or a payment has been made in violation of the Laws, the party who first becomes aware of the violation of the Laws shall notify the other party, and the parties shall cooperate in order to take all necessary corrective actions.

The parties agree that such reinsurance transaction shall be null, void and of no effect from its inception, to the same extent as if the reinsurance transaction had never been entered into. In such event, each party shall be restored to the position it would have occupied if the violation had not occurred, including the return of any payments received, unless prohibited by law.

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**Article 14** 

14.1 **Representations and Warranties** 

The Company makes no representations and warranties as to the future experience or profitability arising from the Reinsured Policies.

Each party represents and warrants that as of the Effective Date of this Agreement and at the time of executing this Agreement, if later, it is solvent on a statutory basis in all states in which it does business or is licensed.

This Article will not terminate or expire until all Reinsured Policies have been discharged or terminated in full.

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**Article 15** 

15.1 **Material Changes** 

"Material" or "materially" for purposes of this Agreement will mean facts that a prudent reinsurer or insurer would consider as reasonably likely to affect the Reinsurer's experience under the Agreement. Prior to the execution of this Agreement, the Company has provided to the Reinsurer the Business Guidelines as outlined in Exhibit A-1 for use in its assessment of the risks covered hereunder. The Company represents and warrants that, to the best of its knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) It has disclosed to the Reinsurer all information which is material to the risks being assumed hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The Business Guidelines were complete and accurate when disclosed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) There has been no material change in the Business Guidelines between the "as of" dates of the
information and the date of Agreement execution.

This Agreement will not cover policies affected by such material changes unless the Reinsurer has agreed in writing in advance with the material changes. In the event the Reinsurer does not respond within thirty (30) days and the Company has followed up with a new communication, it shall be deemed to have accepted such proposed changes.

If Reinsured Policies are not covered due to an unapproved material change, the parties agree that such reinsurance transaction shall be null, void and of no effect from its inception, and all payments between the Company and the Reinsurer with respect to the affected Policies shall be refunded. No liability shall remain with the Reinsurer with respect to such Policies.

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**Article 16** 

16.1 **Duration of Agreement** 

This Agreement is unlimited as to its duration.

The Reinsurer or the Company may terminate this Agreement for new business at any time by giving 90 days prior written notice or pursuant to Article 15.1 (Material Changes) of this Agreement. During the notice period, the Company will continue to cede and the Reinsurer will continue to be liable for new policies covered under the terms of this Agreement.

The Reinsurer will remain liable for all Reinsured Policies in force as of the date of the termination, until their natural expiration, unless the parties mutually decide otherwise or as specified otherwise in this Agreement. All provisions of this Agreement will survive its termination to the extent necessary to carry its purpose.

If the Reinsurer has made a facultative offer prior to the termination date of this Agreement and the Company has accepted that facultative offer before the termination of this Agreement or the termination of the Reinsurer's offer, whichever comes later, the Reinsurer will be liable to honor the facultative offer even if the effective date of the policy falls beyond the termination date of this Agreement.

16.2 **Severability** 

Determination that any provision of this Agreement is invalid or unenforceable will not affect or impair the validity or the enforceability of the remaining provisions of this Agreement.

16.3 **Construction** 

This Agreement will be construed and administered without regard to authorship and without any presumption or rule of construction in favor of either party. This Agreement is between sophisticated parties, each of which has reviewed the Agreement and is fully knowledgeable about its terms and conditions.

16.4 **Credit for Reinsurance** 

The parties intend that the Company will receive statutory reserve credit in its state of domicile for reinsurance provided under this Agreement. The parties agree to use reasonable efforts to ensure that such reserve credit will remain available to the Company.

If the Company loses statutory reserve credit in part or in total due to a change in law or regulation (or a change in the interpretation or application of existing law or regulation by a regulator) or due to a failure by the Reinsurer to maintain in effect a required license or accreditation in the Company's state of domicile provided the Reinsurer is licensed or accredited in that state as of this Agreement's Effective Date (hereinafter a "Reserve Credit Event"), then the parties will take the steps specified below. The parties will provide prompt notice of the occurrence of any Reserve Credit Event.

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Upon the occurrence of any Reserve Credit Event, the Reinsurer shall establish on behalf of the Company such trust accounts, letters of credit, premiums withheld by the Company, or a combination thereof as may be required by applicable law in order to permit the Company to obtain credit for such reinsurance. The Reinsurer will have the option of determining the method of funding to be utilized so long as the Company is satisfied that such method will provide such statutory financial statement credit.

The Reinsurer also agrees to take any additional action as may be required so as to comply with the requirements imposed by the insurance laws and regulations of the state of Wisconsin and of any other state or jurisdiction having jurisdiction over the Company, provided the Reinsurer is licensed or accredited in that state or jurisdiction as of this Agreement's Effective Date, in order to give the Company at all times full statutory financial statement credit for the reinsurance being provided under this Agreement, including by amending this Agreement to add required credit for reinsurance provisions.

If a Reserve Credit Event is not cured and the Reinsurer fails to establish or maintain collateral as set forth above, then the Company may recapture the business ceded under this Agreement. In that event, the Company and the Reinsurer will negotiate in good faith the terms of a mutually agreed recapture of the reinsurance provided hereunder.

16.5 **Non-Waiver** 

A waiver by either party of any violation, or the default by the other party in its adherence to any term of this Agreement, will not constitute a waiver of any other or subsequent violation or default. No prior transaction or dealing between the parties will establish any custom, usage or precedent waiving or modifying any provision of the Agreement. The failure of either party to enforce any part of this Agreement will not constitute a waiver of any right to do so.

16.6 **Governing Law** 

This Agreement shall be governed by the laws of the State of Wisconsin.

16.7 **Interest** 

Each party reserves the right to charge interest on undisputed overdue balances, pursuant to the terms of this Agreement. If applicable, interest will be calculated according to the terms specified in Exhibit C.

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16.8 **No License of Name** 

Neither Party shall use the other Party's trade name, logos, trademark, service marks, or any related property, or refer to or identify the other Party, in any advertising, publicity releases (including references on any customer lists or posting on public facing web-sites), or promotional or marketing correspondence to others.

16.9 C **ounterparts** 

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one Agreement, and any of the parties hereto may execute this Agreement by signing any such counterpart. The parties agree that transmission of signature on the original signature page via electronic means, either by facsimile or electronic mail, shall constitute valid execution of this Agreement and that there shall be no obligation to exchange copies of such original "wet" signatures. When this Agreement has been fully executed by the Company and the Reinsurer, it will become effective as of the Effective Date specified in Exhibit A.

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**Execution** 

Signed for and on behalf of **Thrivent Financial for Lutherans**

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| | | | |
|:---|:---|:---|:---|
| By: | ![LOGO](g95392dsp111a.jpg) <br>| By: | ![LOGO](g95392dsp111b.jpg) <br>|
| Title: | SVP, Chief Actuary | Title: | VP, Solutions Pricing & Development |
| Date: | 8/5/2025 \| 7:17:15 AM CDT | Date: | 7/30/2025 \| 3:48:24 PM CDT |

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Signed for and on behalf of **Optimum Re Insurance Company**

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| | | | |
|:---|:---|:---|:---|
| By: | /s/ Sébastien Blondeau | By: | /s/ Richard Houde |
| Title: | President & COO | Title: | Chief Risk Officer |
| Date: | July 29, 2025 | Date: | July 29, 2025 |

---

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**Exhibit A** 

**Business Covered** 

**Agreement Effective Date:** 

January 1, 2025. The commencement dates for specific plans are shown below.

**Coverage:** 

The policies on the plans shown below which have policy issue dates falling in the period that begins with the Commencement Date and ends with the Termination Date and that qualify for automatic reinsurance are covered according to the Basis specified below, provided that the policies are issued to legal permanent residents of the United States, Canada, Puerto Rico, or Guam, or the policies are issued to insureds that meet the "Field Guidelines for Non-U.S. Persons" which were provided to the Reinsurer and are listed in Exhibit A-1, Business Guidelines. Policies may be backdated up to 6 months to save age.

Professional Athletes will not be reinsured on an automatic basis. A Professional Athlete is defined as an individual who is a team member, which includes players, coaches, trainers, and managers, in any of the five major U.S. professional sports - Major League Baseball (MLB), Major League Soccer (MLS), National Football League (NFL), the National Basketball Association (NBA), or National Hockey League (NHL).

**Basis:** 

Reinsurer Share: 6.7% on a First Dollar Quota Share basis (10% of the 67%) not to exceed the maximum Automatic Binding Limit and Jumbo Limit stated in Exhibit E. If the Company has filled its maximum retention on the life as specified in Exhibit D, the percentage the Reinsurer will automatically accept will increase to 10%.

Any change in the net amount at risk due to changes in the cash value applicable to the policy will be shared proportionately between the Company and its reinsurers.

**Plans, Riders and Benefits:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Product Identification** | **Commencement<br>Date** | **Issue Ages (ALB)** | **Issue Ages (ALB)** | **Issue Ages (ALB)** | **Issue Ages (ALB)** |
| **Product Identification** | **Commencement<br>Date** | **Non-NY** | **Non-NY** | **NY** | **NY** |
| **Product Identification** | **Commencement<br>Date** | **Smoker** | **Non<br>Smoker** | **Smoker** | **Non<br>Smoker** |
|  10 Year Term | January 1, 2025 | 18 - 75 | 18 - 75 | 18 - 70 | 18 - 70 |
|  15 Year Term | January 1. 2025 | 18 - 70 | 18 - 70 | 18 - 65 | 18 - 65 |
|  20 Year Term | January 1, 2025 | 18 - 65 | 18 - 65 | 18 - 60 | 18 - 60 |
|  30 Year Term | January 1, 2025 | 18 - 50 | 18 - 55 | 18 - 50 | 18 - 50 |
|  Accelerated Death Benefit for Terminal Illness Rider\* | January 1, 2025 | Follows base policy | Follows base policy | Follows base policy | Follows base policy |

---

------

\* Accelerated Death Benefit for Terminal Illness Rider is reinsured at no additional cost.

Disability Waiver not reinsured.

For products sold with a term conversion privilege, there are two options:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Basic term conversion – allows for conversion from issue date to end of day before 5<sup>th</sup> contract anniversary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Extended term conversion – allows for conversion from issue date to end of day before the earlier of
(i) contract anniversary at end of level period; or (ii) when the insured reaches attained age 70 for issue ages 18 – 64.

**Company's State of Domicile:** Wisconsin

------

**Exhibit A-1** 

**Business Guidelines** 

The Company affirms that the following have been supplied to the Reinsurer and are in use as of the effective date of this Agreement:

1. Policy Form(s)

2. Policy Application Form(s)

3. Underwriting Guidelines and Rules

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Life Insurance Age and Amount Grid

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Build Charts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Preferred Criteria

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Field Guidelines for Non-U.S. Persons

4. LTIV Product Paper

5. Declaration of Insurability

The Company affirms that the following Underwriting Manual is in use as of the effective date of this Agreement:

Swiss Re's LifeGuide

------

**Exhibit A-2** 

**Facultative Submissions** 

The Company may submit on a facultative basis to the Reinsurer any application for a policy which meets the conditions outlined in Article 2.2. by sending to the Reinsurer an Application for Reinsurance, a sample of which is included as Exhibit B. The Application for Reinsurance will include copies of all underwriting evidence that is available for risk assessment, including copies of the application for insurance, medical examiners' reports, attending physicians' statements, inspection reports, and other papers bearing on the insurability of the risk as requested by the Reinsurer. The Company will also notify the Reinsurer of any outstanding underwriting requirements at the time of the facultative submission. Any subsequent information pertinent to the risk assessment will be transmitted to the Reinsurer immediately.

After consideration of the Application for Reinsurance and related papers, the Reinsurer will promptly inform the Company of its underwriting decision. The Reinsurer's facultative offer will expire at the end of 120 days, unless otherwise specified by the Reinsurer. If the Company accepts the Reinsurer's offer and the policy is placed in force in accordance with the Business Guidelines provided to the Reinsurer, the Company will duly notify the Reinsurer according to the New Business report specified in Exhibit F. The Reinsurer's share of liability for such policy will commence at the time specified in Article 4.2 of the Agreement.

If any risk is submitted to more than one reinsurer for consideration, the Company's rules for placement of facultative cases will apply.

------

**Exhibit B**![LOGO](g95392dsp051.jpg)

Reinsurance Application From: Company Name Company Name Applicant's Name Last First Middle Date of Birth Age Sex Social Security Number Plan Preferred Smoker Nonsmoker Reunderwriting Curr Residence For Premium Tax Policy Number Policy Date Preliminary Term From Type of Application Facultative Automatic Placement Date Self Administered (Bulk) Terms YRT Coinsurance Decrement Cash Values Reserves Age Basis Retention Code Full Reduced Nil Reinsurance Amounts Basic Coverage Additional Coverage Waiver Premium Accidental Death Other Benefits Benefit Benefit Previous Insurance In force Of Which We Retained - Insurance Now Applied For - Of Which We Retain - Reinsurance This Cession - Extra Premium Rating If Substandard - Coinsurance Premium - \*For YRT cases state Gross Premiums WP AD Other Amount of Premium Annual Decrement for and Expiry Ages for benefits to be Waived Amount at Risk Additional Information or Remarks Date By

------

**Exhibit C** 

**General Terms** 

1. **Premium Tax:** 

The Reinsurer will not reimburse the Company for premium taxes.

2. **Dividend Payments:** 

The Reinsurer will not reimburse the Company for dividends paid to policyholders.

3. **Policy Loans:** 

The Reinsurer will not participate in policy loans or other forms of indebtedness as respects the Reinsured Policies.

4. **Cash Surrender Values:** 

The Reinsurer will not reimburse the Company for cash surrender values paid to the policyholder.

5. **Reinsurance Limits:** 

**Minimum Initial Automatic Reinsurance Limit ceded to the Reinsurer: $0** 

**Minimum Final Automatic Reinsurance Limit ceded to the Reinsurer: $0** 

**Minimum Initial Facultative Reinsurance Limit: $0** 

6. **Interest Calculation on Late Payments:** Interest will accrue from the due date at a rate equal to the
Secured Overnight Financing Rate (SOFR) 180 day average as reported on the New York Federal Reserve website on the due date or, if the due date is not a business day, on the next business day after the due date, plus 25 basis points per annum to be
compounded and adjusted every three months after such due date.

------

**Exhibit C-1** 

**Rates and Terms for Level Term IV (10, 15, 20, and 30 year level term)** 

1. **Reinsurance Structure:** YRT

2. **Age Basis:** Last

3. **Premium Mode:** Annually in Advance

4. **Billing Frequency:** Monthly

5. **Premiums:** 

**Basic Premiums:** 

The Company will pay to the Reinsurer a basic premium calculated by multiplying the Reinsured Amount at Risk of the Reinsured Policy, as defined in the Reinsured Amount At Risk provision of this Exhibit, by the appropriate percentage (shown below) of the appropriate rate from the 2015 VBT Select & Ultimate, Gender and Smoker distinct set of rates ("2015 VBT") which have been included at the end of this Exhibit. The Company will continue to pay the appropriate premium to the Reinsurer as long as the Reinsured Policy is in force.

The following percentages will be applied to the 2015 VBT for the basic premiums payable hereunder:

------

**Exhibit C-1** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Full Underwriting** | **Full Underwriting** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 66.3% | 58.6% |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 75.1% | 61.4% |
|  10 Year<br> Male | Preferred Non-tob | 0% | 87.8% | 71.2% |
|  10 Year<br> Male | Standard Non-tob | 0% | 117.7% | 97.4% |
|  10 Year<br> Male | Preferred Tob | 0% | 77.6% | 65.6% |
|  10 Year<br> Male | Standard Tob | 0% | 90.7% | 73.4% |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 66.8% | 57.9% |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 71.5% | 59.8% |
|  10 Year<br> Female | Preferred Non-tob | 0% | 80.8% | 67.2% |
|  10 Year<br> Female | Standard Non-tob | 0% | 108.6% | 83.2% |
|  10 Year<br> Female | Preferred Tob | 0% | 67.9% | 58.8% |
|  10 Year<br> Female | Standard Tob | 0% | 87.5% | 67.3% |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 56.9% | 55.4% |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 64.3% | 57.5% |
|  15 Year<br> Male | Preferred Non-tob | 0% | 75.1% | 66.0% |
|  15 Year<br> Male | Standard Non-tob | 0% | 100.6% | 88.2% |
|  15 Year<br> Male | Preferred Tob | 0% | 69.5% | 63.6% |
|  15 Year<br> Male | Standard Tob | 0% | 81.1% | 70.6% |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 58.9% | 55.8% |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 62.9% | 57.1% |
|  15 Year<br> Female | Preferred Non-tob | 0% | 70.9% | 63.5% |
|  15 Year<br> Female | Standard Non-tob | 0% | 94.6% | 77.5% |
|  15 Year<br> Female | Preferred Tob | 0% | 61.9% | 58.1% |
|  15 Year<br> Female | Standard Tob | 0% | 79.4% | 66.0% |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 52.0% | 52.2% |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 58.2% | 54.7% |
|  20 Year<br> Male | Preferred Non-tob | 0% | 66.9% | 62.3% |
|  20 Year<br> Male | Standard Non-tob | 0% | 88.0% | 79.7% |
|  20 Year<br> Male | Preferred Tob | 0% | 64.6% | 61.8% |
|  20 Year<br> Male | Standard Tob | 0% | 74.4% | 68.1% |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 54.2% | 54.2% |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 57.6% | 55.6% |
|  20 Year<br> Female | Preferred Non-tob | 0% | 64.4% | 61.4% |
|  20 Year<br> Female | Standard Non-tob | 0% | 86.0% | 74.5% |
|  20 Year<br> Female | Preferred Tob | 0% | 58.5% | 57.7% |
|  20 Year<br> Female | Standard Tob | 0% | 74.2% | 65.6% |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 47.2% | 52.0% |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 51.9% | 54.7% |
|  30 Year<br> Male | Preferred Non-tob | 0% | 58.3% | 60.4% |
|  30 Year<br> Male | Standard Non-tob | 0% | 76.0% | 72.9% |
|  30 Year<br> Male | Preferred Tob | 0% | 59.3% | 61.5% |
|  30 Year<br> Male | Standard Tob | 0% | 67.7% | 66.9% |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 50.2% | 55.7% |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 52.8% | 57.4% |
|  30 Year<br> Female | Preferred Non-tob | 0% | 58.6% | 62.1% |
|  30 Year<br> Female | Standard Non-tob | 0% | 78.5% | 72.7% |
|  30 Year<br> Female | Preferred Tob | 0% | 55.3% | 59.6% |
|  30 Year<br> Female | Standard Tob | 0% | 69.3% | 66.6% |

---

------

**Exhibit C-1** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Accelerated Underwriting** | **Accelerated Underwriting** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 85.5% | 74.7% |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 96.2% | 81.0% |
|  10 Year<br> Male | Preferred Non-tob | 0% | 111.9% | 96.6% |
|  10 Year<br> Male | Standard Non-tob | 0% | 149.6% | 130.1% |
|  10 Year<br> Male | Preferred Tob | 0% | 98.7% | 87.8% |
|  10 Year<br> Male | Standard Tob | 0% | 115.4% | 100.3% |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 76.3% | 65.2% |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 81.4% | 68.9% |
|  10 Year<br> Female | Preferred Non-tob | 0% | 91.9% | 78.5% |
|  10 Year<br> Female | Standard Non-tob | 0% | 124.4% | 101.5% |
|  10 Year<br> Female | Preferred Tob | 0% | 77.0% | 67.99% |
|  10 Year<br> Female | Standard Tob | 0% | 99.0% | 80.8% |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 70.0% | 68.5% |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 79.0% | 73.4% |
|  15 Year<br> Male | Preferred Non-tob | 0% | 92.5% | 86.4% |
|  15 Year<br> Male | Standard Non-tob | 0% | 124.0% | 114.5% |
|  15 Year<br> Male | Preferred Tob | 0% | 85.5% | 82.6% |
|  15 Year<br> Male | Standard Tob | 0% | 99.8% | 93.7% |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 65.0% | 61.3% |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 68.4% | 64.1% |
|  15 Year<br> Female | Preferred Non-tob | 0% | 78.4% | 72.4% |
|  15 Year<br> Female | Standard Non-tob | 0% | 104.4% | 92.4% |
|  15 Year<br> Female | Preferred Tob | 0% | 68.3% | 65.1% |
|  15 Year<br> Female | Standard Tob | 0% | 87.5% | 76.8% |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 63.6% | 63.7% |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 71.1% | 67.3% |
|  20 Year<br> Male | Preferred Non-tob | 0% | 81.6% | 78.1% |
|  20 Year<br> Male | Standard Non-tob | 0% | 107.3% | 101.0% |
|  20 Year<br> Male | Preferred Tob | 0% | 78.7% | 78.5% |
|  20 Year<br> Male | Standard Tob | 0% | 90.8% | 87.7% |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 59.5% | 58.7% |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 63.2% | 60.7% |
|  20 Year<br> Female | Preferred Non-tob | 0% | 70.7% | 67.8% |
|  20 Year<br> Female | Standard Non-tob | 0% | 94.8% | 84.6% |
|  20 Year<br> Female | Preferred Tob | 0% | 64.1% | 64.0% |
|  20 Year<br> Female | StandardTob | 0% | 81.3% | 74.0% |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 57.2% | 63.0% |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 62.4% | 66.4% |
|  30 Year<br> Male | Preferred Non-tob | 0% | 69.8% | 73.6% |
|  30 Year<br> Male | Standard Non-tob | 0% | 91.2% | 89.6% |
|  30 Year<br> Male | Preferred Tob | 0% | 71.0% | 76.5% |
|  30 Year<br> Male | Standard Tob | 0% | 81.3% | 83.8% |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 54.6% | 60.8% |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 57.3% | 62.7% |
|  30 Year<br> Female | Preferred Non-tob | 0% | 63.5% | 67.9% |
|  30 Year<br> Female | Standard Non-tob | 0% | 86.5% | 78.8% |
|  30 Year<br> Female | Preferred Tob | 0% | 59.8% | 65.9% |
|  30 Year<br> Female | Standard Tob | 0% | 75.1% | 73.8% |

---

------

**Exhibit C-1** 

Accelerated underwriting follows the Company's underwriting guidelines. Policies issued and classified as Accelerated Pass will use Accelerated Underwriting YRT rates. All other business submitted for Accelerated (failed and holdout) will use Full Underwriting YRT rates.

**Post-Level Term Period YRT Rates**: 200% of the applicable 2015 VBT ALB Select and Ultimate Gender and Smoker distinct table on a point-in-scale basis.

**Table Extra Premiums/Multiple Extra Premiums:** 

The Reinsurer shall receive its proportionate share of any extra premiums payable due to additional mortality risk.

Table extra premiums are equal to 25% of the standard Non-Tobacco or standard Tobacco premium (whichever is appropriate) for each assessed table of extra mortality. The Multiple Extra Premium is developed by adding all Table Extra premiums to the standard basic premium.

**Expanded Standard Rate Class:** 

The Company allows applicants with up to 65 debits to be issued as standard cases for automatic business. The Company will pay the Reinsurer the standard class on those cases. This program does not apply to facultative business.

**Supplementary Rider(s):** 

For the Accelerated Death Benefit for Terminal Illness rider specified in Exhibit A, there is no additional reinsurance premium.

In the event of an accelerated benefit claim, the Reinsurer will pay the Company its proportionate share of any eligible accelerated benefits in one lump sum. Payment of the Accelerated Death Benefit rider will reduce the policy's face amount and the reinsurance proportionately. Reinsurance coverage of the remaining portion of the policy's face amount will continue for as long as the policy remains in force.

6. **Allowances:** 

**On Multiple Extra Premiums:** Not applicable

**On Supplementary Riders:** Not applicable

**On Flat Extra Premiums:** 

The reinsurance premium remitted to the Reinsurer will include any flat extra premium minus the allowances shown below.

---

| | | |
|:---|:---|:---|
| **Type** | **First Year** | **Renewal** |
|  Temporary (1-5 years) | 15% | 15% |
|  Permanent (6+ years) | 85% | 15% |

---

------

**Exhibit C-1** 

7. **Policy Fee:** There is no policy fee applicable.

8. **Reinsured Amount At Risk:** 

The Reinsured Amount at Risk is the Reinsurer's proportionate share of the net amount at risk. For term plans, the net amount at risk will be based on the face amount. For permanent plans, the net amount at risk will be based on face amount less cash value.

9. **Rate Basis:** 

The rates in this subsection are on a non-participating basis.

10. **Experience Monitoring:** 

Company agrees to periodically provide updated distribution, lapse, and mortality experience data upon request.

11. **YRT Rates For Conversions:** 

Premiums are based on the issue age, risk class, and duration of the original policy (i.e. point-in-scale) unless a risk class reconsideration has been applied.

The following percentages are to be applied to the 2015 VBT ALB Select and Ultimate Gender and Smoker distinct table according to the conversion duration, meaning the attained policy duration at the time of conversion.

------

**Exhibit C-1** 

---

| | | | |
|:---|:---|:---|:---|
| **Conversions** | **Conversions** | **Conversions** | **Conversions** |
| **Term** | **Class** | **Conversion Duration** | **Rate** |
|  10 Year | Preferred best Non-tob | 1-5 | 73.6% |
|  10 Year | Super Preferred Non-tob | 1-5 | 80.7% |
|  10 Year | Preferred Non-tob | 1-5 | 88.5% |
|  10 Year | Standard Non-tob | 1-5 | 101.9% |
|  10 Year | Preferred Tob | 1-5 | 95.8% |
|  10 Year | Standard Tob | 1-5 | 105.3% |
|  10 Year | Preferred best Non-tob | 6-8 | 75.8% |
|  10 Year | Super Preferred Non-tob | 6-8 | 83.1% |
|  10 Year | Preferred Non-tob | 6-8 | 91.1% |
|  10 Year | Standard Non-tob | 6-8 | 104.9% |
|  10 Year | Preferred Tob | 6-8 | 98.7% |
|  10 Year | Standard Tob | 6-8 | 108.5% |
|  10 Year | Preferred best Non-tob | 9-10 | 76.6% |
|  10 Year | Super Preferred Non-tob | 9-10 | 84.6% |
|  10 Year | Preferred Non-tob | 9-10 | 92.2% |
|  10 Year | Standard Non-tob | 9-10 | 107.4% |
|  10 Year | Preferred Tob | 9-10 | 100.2% |
|  10 Year | Standard Tob | 9-10 | 111.7% |
|  15 Year | Preferred best Non-tob | 1-7 | 73.6% |
|  15 Year | Super Preferred Non-tob | 1-7 | 80.7% |
|  15 Year | Preferred Non-tob | 1-7 | 88.5% |
|  15 Year | Standard Non-tob | 1-7 | 101.9% |
|  15 Year | Preferred Tob | 1-7 | 95.8% |
|  15 Year | Standard Tob | 1-7 | 105.3% |
|  15 Year | Preferred best Non-tob | 8-12 | 75.8% |
|  15 Year | Super Preferred Non-tob | 8-12 | 83.1% |
|  15 Year | Preferred Non-tob | 8-12 | 91.1% |
|  15 Year | Standard Non-tob | 8-12 | 104.9% |
|  15 Year | Preferred Tob | 8-12 | 98.7% |
|  15 Year | Standard Tob | 8-12 | 108.5% |
|  15 Year | Preferred best Non-tob | 13-15 | 87.3% |
|  15 Year | Super Preferred Non-tob | 13-15 | 96.2% |
|  15 Year | Preferred Non-tob | 13-15 | 104.8% |
|  15 Year | Standard Non-tob | 13-15 | 123.5% |
|  15 Year | Preferred Tob | 13-15 | 99.8% |
|  15 Year | Standard Tob | 13-15 | 111.3% |

---

------

**Exhibit C-1** 

---

| | | | |
|:---|:---|:---|:---|
|  20 Year | Preferred best Non-tob | 1-9 | 73.6% |
|  20 Year | Super Preferred Non-tob | 1-9 | 80.7% |
|  20 Year | Preferred Non-tob | 1-9 | 88.5% |
|  20 Year | Standard Non-tob | 1-9 | 101.9% |
|  20 Year | Preferred Tob | 1-9 | 95.8% |
|  20 Year | Standard Tob | 1-9 | 105.3% |
|  20 Year | Preferred best Non-tob | 10-15 | 75.8% |
|  20 Year | Super Preferred Non-tob | 10-15 | 83.1% |
|  20 Year | Preferred Non-tob | 10-15 | 91.1% |
|  20 Year | Standard Non-tob | 10-15 | 104.9% |
|  20 Year | Preferred Tob | 10-15 | 98.7% |
|  20 Year | Standard Tob | 10-15 | 108.5% |
|  20 Year | Preferred best Non-tob | 16-20 | 92.1% |
|  20 Year | Super Preferred Non-tob | 16-20 | 101.4% |
|  20 Year | Preferred Non-tob | 16-20 | 111.1% |
|  20 Year | Standard Non-tob | 16-20 | 130.5% |
|  20 Year | Preferred Tob | 16-20 | 105.4% |
|  20 Year | Standard Tob | 16-20 | 116.5% |
|  30 Year | Preferred best Non-tob | 1-14 | 73.6% |
|  30 Year | Super Preferred Non-tob | 1-14 | 80.7% |
|  30 Year | Preferred Non-tob | 1-14 | 88.5% |
|  30 Year | Standard Non-tob | 1-14 | 101.9% |
|  30 Year | Preferred Tob | 1-14 | 95.8% |
|  30 Year | Standard Tob | 1-14 | 105.3% |
|  30 Year | Preferred best Non-tob | 15-25 | 75.8% |
|  30 Year | Super Preferred Non-tob | 15-25 | 83.1% |
|  30 Year | Preferred Non-tob | 15-25 | 91.1% |
|  30 Year | Standard Non-tob | 15-25 | 104.9% |
|  30 Year | Preferred Tob | 15-25 | 98.7% |
|  30 Year | Standard Tob | 15-25 | 108.5% |
|  30 Year | Preferred best Non-tob | 26-30 | 92.1% |
|  30 Year | Super Preferred Non-tob | 26-30 | 102.4% |
|  30 Year | Preferred Non-tob | 26-30 | 112.6% |
|  30 Year | Standard Non-tob | 26-30 | 136.2% |
|  30 Year | Preferred Tob | 26-30 | 109.5% |
|  30 Year | Standard Tob | 26-30 | 118.8% |

---

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![LOGO](g95392dsp060.jpg)

2015 VBT FEMALE NONSMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.27 0.27 0.26 0.27 0.27 0.27 0.26 0.26 0.27 0.28 0.30 0.32 0.34 0.36 0.40 0.47 0.54 0.62 0.70 0.77 0.83 0.86 0.87 0.87 0.88 0.88 43 19 0.26 0.25 0.25 0.25 0.25 0.25 0.24 0.24 0.26 0.28 0.30 0.32 0.33 0.36 0.41 0.48 0.57 0.66 0.75 0.81 0.86 0.87 0.87 0.88 0.88 0.88 44 20 0.21 0.22 0.23 0.24 0.23 0.22 0.22 0.23 0.26 0.28 0.30 0.31 0.33 0.36 0.43 0.51 0.60 0.68 0.76 0.83 0.87 0.87 0.88 0.88 0.88 0.90 45 21 0.17 0.20 0.22 0.22 0.21 0.20 0.21 0.23 0.26 0.29 0.30 0.31 0.33 0.38 0.45 0.54 0.62 0.69 0.77 0.84 0.87 0.88 0.88 0.88 0.90 0.94 46 22 0.15 0.19 0.20 0.19 0.18 0.19 0.21 0.24 0.27 0.29 0.30 0.32 0.35 0.41 0.49 0.56 0.63 0.70 0.78 0.84 0.88 0.88 0.88 0.90 0.94 0.99 47 23 0.14 0.18 0.18 0.17 0.17 0.19 0.22 0.25 0.28 0.30 0.31 0.33 0.37 0.44 0.52 0.59 0.64 0.71 0.78 0.84 0.88 0.88 0.90 0.94 0.99 1.05 48 24 0.12 0.15 0.16 0.16 0.17 0.19 0.22 0.25 0.28 0.30 0.33 0.36 0.41 0.49 0.56 0.60 0.65 0.71 0.78 0.84 0.88 0.90 0.94 0.99 1.05 1.13 49 25 0.10 0.13 0.14 0.15 0.17 0.20 0.23 0.26 0.29 0.32 0.35 0.40 0.46 0.53 0.59 0.62 0.67 0.73 0.79 0.85 0.90 0.94 0.99 1.05 1.13 1.23 50 26 0.09 0.12 0.14 0.15 0.17 0.20 0.23 0.27 0.31 0.35 0.39 0.44 0.51 0.58 0.61 0.64 0.69 0.75 0.82 0.88 0.94 0.99 1.05 1.13 1.23 1.35 51 27 0.08 0.12 0.14 0.16 0.18 0.20 0.24 0.29 0.33 0.38 0.43 0.49 0.56 0.61 0.64 0.67 0.72 0.78 0.85 0.92 0.99 1.05 1.13 1.23 1.35 1.51 52 28 0.07 0.12 0.14 0.16 0.18 0.21 0.26 0.31 0.36 0.41 0.47 0.53 0.60 0.64 0.66 0.70 0.75 0.82 0.89 0.97 1.05 1.13 1.23 1.35 1.51 1.70 53 29 0.07 0.13 0.15 0.16 0.19 0.23 0.28 0.34 0.39 0.45 0.50 0.56 0.62 0.66 0.69 0.73 0.80 0.88 0.96 1.04 1.13 1.23 1.35 1.51 1.70 1.90 54 30 0.07 0.13 0.15 0.17 0.20 0.25 0.31 0.37 0.42 0.47 0.53 0.59 0.65 0.68 0.72 0.78 0.86 0.95 1.03 1.12 1.23 1.35 1.51 1.70 1.90 2.10 55 31 0.08 0.14 0.16 0.19 0.22 0.28 0.34 0.40 0.45 0.50 0.55 0.61 0.67 0.72 0.77 0.84 0.94 1.03 1.11 1.22 1.35 1.51 1.70 1.90 2.10 2.30 56 32 0.08 0.14 0.18 0.21 0.26 0.31 0.37 0.42 0.46 0.51 0.57 0.63 0.71 0.77 0.84 0.92 1.02 1.11 1.21 1.34 1.51 1.70 1.90 2.10 2.30 2.49 57 33 0.08 0.15 0.20 0.24 0.29 0.34 0.40 0.45 0.48 0.53 0.59 0.66 0.75 0.83 0.92 1.00 1.11 1.21 1.33 1.50 1.70 1.90 2.10 2.30 2.49 2.69 58 34 0.09 0.15 0.22 0.28 0.33 0.37 0.43 0.47 0.50 0.55 0.61 0.71 0.82 0.91 1.00 1.09 1.20 1.32 1.48 1.68 1.90 2.10 2.30 2.49 2.69 2.91 59 35 0.10 0.16 0.25 0.31 0.36 0.41 0.47 0.50 0.52 0.57 0.66 0.78 0.90 1.00 1.09 1.19 1.31 1.45 1.64 1.87 2.10 2.30 2.49 2.69 2.91 3.16 60 36 0.10 0.18 0.27 0.34 0.40 0.45 0.49 0.52 0.55 0.62 0.73 0.86 0.99 1.09 1.18 1.29 1.42 1.59 1.81 2.06 2.30 2.49 2.69 2.91 3.16 3.46 61 37 0.11 0.18 0.29 0.38 0.44 0.49 0.52 0.55 0.59 0.68 0.81 0.94 1.08 1.18 1.28 1.39 1.55 1.74 1.98 2.24 2.49 2.69 2.91 3.16 3.46 3.80 62 38 0.12 0.19 0.31 0.40 0.47 0.51 0.54 0.58 0.65 0.76 0.90 1.04 1.17 1.27 1.37 1.51 1.68 1.90 2.15 2.43 2.69 2.91 3.16 3.46 3.80 4.19 63 39 0.13 0.21 0.32 0.42 0.50 0.54 0.58 0.64 0.72 0.85 0.99 1.13 1.26 1.37 1.48 1.63 1.83 2.06 2.33 2.63 2.91 3.16 3.46 3.80 4.19 4.61 64 40 0.14 0.22 0.33 0.43 0.53 0.58 0.63 0.70 0.79 0.94 1.09 1.22 1.35 1.47 1.61 1.78 1.99 2.24 2.52 2.84 3.16 3.46 3.80 4.19 4.61 5.06 65 41 0.14 0.23 0.34 0.45 0.56 0.63 0.69 0.76 0.88 1.03 1.18 1.31 1.45 1.60 1.76 1.95 2.18 2.43 2.73 3.10 3.46 3.80 4.19 4.61 5.06 5.55 66 42 0.15 0.25 0.35 0.49 0.61 0.68 0.74 0.82 0.96 1.12 1.27 1.40 1.57 1.75 1.93 2.15 2.39 2.67 3.00 3.39 3.80 4.19 4.61 5.06 5.55 6.09 67 43 0.17 0.26 0.37 0.55 0.66 0.73 0.79 0.90 1.05 1.21 1.36 1.51 1.71 1.92 2.13 2.36 2.62 2.92 3.28 3.73 4.19 4.61 5.06 5.55 6.09 6.68 68 44 0.19 0.26 0.40 0.61 0.71 0.78 0.85 0.98 1.13 1.30 1.46 1.64 1.88 2.11 2.34 2.59 2.87 3.20 3.61 4.10 4.61 5.06 5.55 6.09 6.68 7.36 69 45 0.21 0.27 0.45 0.67 0.76 0.84 0.92 1.06 1.22 1.39 1.57 1.80 2.07 2.33 2.57 2.84 3.17 3.54 3.99 4.50 5.06 5.55 6.09 6.68 7.36 8.16 70 46 0.23 0.28 0.51 0.72 0.82 0.91 1.01 1.16 1.32 1.50 1.71 1.98 2.29 2.57 2.83 3.14 3.50 3.91 4.39 4.94 5.55 6.09 6.68 7.36 8.16 9.11 71 47 0.25 0.29 0.60 0.78 0.89 0.99 1.11 1.26 1.43 1.62 1.87 2.19 2.54 2.83 3.13 3.48 3.88 4.32 4.84 5.42 6.09 6.68 7.36 8.16 9.11 10.22 72 48 0.26 0.33 0.71 0.86 0.99 1.09 1.22 1.38 1.54 1.76 2.04 2.40 2.80 3.11 3.43 3.83 4.28 4.76 5.31 5.94 6.68 7.36 8.16 9.11 10.22 11.52 73 49 0.27 0.41 0.82 0.97 1.09 1.20 1.35 1.50 1.68 1.92 2.24 2.63 3.03 3.38 3.73 4.18 4.68 5.20 5.80 6.51 7.36 8.16 9.11 10.22 11.52 13.03 74 50 0.28 0.54 0.94 1.08 1.20 1.33 1.48 1.63 1.83 2.11 2.46 2.85 3.26 3.63 4.04 4.56 5.10 5.66 6.32 7.14 8.16 9.11 10.22 11.52 13.03 14.75 75 51 0.28 0.68 1.03 1.17 1.31 1.46 1.61 1.78 2.02 2.34 2.71 3.09 3.49 3.90 4.39 4.97 5.54 6.14 6.91 7.90 9.11 10.22 11.52 13.03 14.75 16.74 76 52 0.29 0.80 1.10 1.26 1.42 1.59 1.76 1.97 2.24 2.60 2.97 3.33 3.75 4.21 4.78 5.42 6.04 6.76 7.68 8.83 10.22 11.52 13.03 14.75 16.74 19.06 77 53 0.30 0.85 1.14 1.34 1.55 1.74 1.95 2.19 2.51 2.88 3.25 3.60 4.04 4.58 5.23 5.95 6.69 7.58 8.66 9.95 11.52 13.03 14.75 16.74 19.06 21.79 78 54 0.31 0.87 1.19 1.40 1.70 1.92 2.17 2.45 2.80 3.18 3.53 3.89 4.39 5.03 5.79 6.62 7.49 8.54 9.83 11.39 13.03 14.75 16.74 19.06 21.79 25.08 79 55 0.32 0.88 1.21 1.48 1.88 2.15 2.43 2.74 3.11 3.47 3.81 4.21 4.80 5.56 6.44 7.42 8.47 9.69 11.20 13.03 14.75 16.74 19.06 21.79 25.08 28.96 80 56 0.33 0.89 1.23 1.59 2.11 2.42 2.73 3.05 3.41 3.74 4.08 4.55 5.27 6.18 7.21 8.36 9.61 11.01 12.71 14.75 16.74 19.06 21.79 25.08 28.96 33.07 81 57 0.34 0.91 1.25 1.76 2.38 2.72 3.04 3.35 3.67 3.98 4.36 4.95 5.83 6.89 8.11 9.45 10.88 12.47 14.42 16.74 19.06 21.79 25.08 28.96 33.07 37.34 82 58 0.36 0.94 1.30 2.01 2.68 3.03 3.34 3.61 3.90 4.23 4.70 5.45 6.53 7.79 9.19 10.74 12.39 14.20 16.42 19.06 21.79 25.08 28.96 33.07 37.34 42.23 83 59 0.40 0.97 1.43 2.30 3.00 3.33 3.59 3.83 4.11 4.52 5.14 6.12 7.42 8.86 10.48 12.25 14.12 16.13 18.72 21.79 25.08 28.96 33.07 37.34 42.23 48.98 84 60 0.47 1.01 1.67 2.57 3.29 3.58 3.80 4.03 4.37 4.91 5.75 6.98 8.50 10.16 11.99 13.97 16.06 18.38 21.47 25.08 28.96 33.07 37.34 42.23 48.98 56.73 85 61 0.56 1.09 1.97 2.79 3.53 3.77 3.97 4.26 4.72 5.46 6.56 8.05 9.77 11.64 13.66 15.87 18.31 21.29 24.94 28.96 33.07 37.34 42.23 48.98 56.73 64.43 86 62 0.67 1.23 2.32 3.03 3.71 3.94 4.20 4.62 5.25 6.22 7.60 9.33 11.25 13.30 15.54 18.06 21.13 24.67 28.96 33.07 37.34 42.23 48.98 56.73 64.43 73.25 87 63 0.79 1.47 2.66 3.30 3.82 4.16 4.60 5.20 5.99 7.21 8.85 10.78 12.86 15.10 17.63 20.80 24.51 28.71 33.07 37.34 42.23 48.98 56.73 64.43 73.25 83.31 88 64 0.89 1.81 2.93 3.47 3.97 4.51 5.18 5.92 6.92 8.46 10.32 12.36 14.60 17.03 19.96 24.02 28.27 33.07 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 89 65 0.99 2.06 3.14 3.60 4.18 5.00 5.84 6.77 8.09 9.96 12.00 14.12 16.55 19.40 22.82 27.48 32.67 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 90 66 1.09 2.16 3.30 3.72 4.48 5.56 6.61 7.82 9.49 11.69 13.91 16.23 18.74 22.07 25.92 31.16 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 91 67 1.21 2.25 3.43 3.92 4.92 6.22 7.52 9.06 11.09 13.65 16.11 18.61 21.58 25.27 29.13 35.36 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 92 68 1.35 2.33 3.57 4.27 5.50 7.01 8.57 10.45 12.90 15.84 18.48 21.46 25.10 28.99 33.81 41.15 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 93 69 1.49 2.43 3.72 4.69 6.20 7.91 9.73 11.98 14.90 18.28 21.34 24.93 28.87 33.63 40.58 48.85 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 94

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![LOGO](g95392dsp126.jpg)

2015 VBT FEMALE NONSMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 1.65 2.56 3.92 5.19 7.01 8.87 10.96 13.65 17.11 20.99 24.75 28.57 33.37 39.75 48.11 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 95 71 1.83 2.73 4.17 5.86 7.88 9.88 12.28 15.48 19.56 24.06 28.36 32.43 38.54 46.37 55.62 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 96 72 2.03 2.94 4.50 6.67 8.80 10.93 13.69 17.47 22.32 27.50 32.20 37.15 44.49 53.73 63.93 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 97 73 2.30 3.22 4.93 7.55 9.74 12.05 15.22 19.72 25.45 31.28 36.40 42.64 51.28 61.91 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 98 74 2.64 3.54 5.49 8.49 10.73 13.25 16.96 22.31 28.96 35.50 41.04 48.50 58.46 70.81 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 99 75 3.04 3.93 6.19 9.49 11.79 14.61 18.98 25.26 32.94 40.21 46.82 55.89 67.43 81.09 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 100 76 3.46 4.40 7.06 10.57 12.96 16.18 21.29 28.66 37.50 45.50 54.40 65.34 78.58 93.36 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 101 77 3.92 4.98 8.09 11.75 14.29 17.98 24.00 32.65 42.76 51.89 63.09 76.08 91.56 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 102 78 4.39 5.69 9.33 13.06 15.77 20.10 27.26 37.41 48.83 60.21 73.61 89.26 105.58 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 103 79 4.72 6.55 10.80 14.48 17.48 22.66 31.23 43.11 56.52 70.91 87.01 104.70 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 104 80 5.02 7.57 12.46 16.02 19.49 25.94 36.12 50.03 65.71 82.79 101.96 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 105 81 5.52 8.75 14.30 17.72 22.49 30.40 42.24 58.63 77.18 97.47 117.74 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 106 82 6.22 10.12 16.46 20.53 26.67 36.05 50.48 70.70 93.70 116.08 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 107 83 7.21 11.70 19.04 24.76 31.92 43.30 63.20 88.67 114.60 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 108 84 8.32 13.64 22.51 29.86 38.51 53.73 80.84 109.01 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 109 85 9.33 16.25 27.15 36.02 47.49 71.17 101.08 129.33 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 110 86 10.31 19.60 32.75 43.45 61.90 95.09 125.71 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 111 87 11.40 23.65 39.51 54.83 85.07 123.76 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 112 88 12.62 28.28 47.64 72.38 114.48 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 113 89 13.95 33.53 60.19 98.09 142.34 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 114 90 16.69 42.09 86.52 133.89 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 115 91 22.98 60.53 129.36 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 116 92 34.41 90.93 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 117 93 52.25 120.48 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 78.02 160.08 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 113.49 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

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![LOGO](g95392dsp127.jpg)

2015 VBT FEMALE SMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.27 0.27 0.26 0.27 0.27 0.30 0.33 0.33 0.34 0.34 0.36 0.38 0.41 0.44 0.47 0.57 0.69 0.79 0.94 1.09 1.23 1.34 1.44 1.53 1.62 1.71 43 19 0.26 0.25 0.25 0.25 0.28 0.31 0.32 0.33 0.34 0.36 0.38 0.41 0.44 0.47 0.57 0.68 0.79 0.93 1.08 1.22 1.34 1.44 1.53 1.62 1.71 1.82 44 20 0.21 0.22 0.23 0.25 0.29 0.31 0.31 0.33 0.36 0.38 0.41 0.44 0.47 0.57 0.68 0.79 0.92 1.06 1.20 1.33 1.44 1.53 1.62 1.71 1.82 1.96 45 21 0.18 0.20 0.23 0.27 0.29 0.30 0.31 0.34 0.38 0.40 0.44 0.47 0.57 0.68 0.78 0.92 1.05 1.18 1.31 1.43 1.53 1.62 1.71 1.82 1.96 2.15 46 22 0.18 0.21 0.24 0.26 0.28 0.30 0.33 0.37 0.40 0.43 0.47 0.57 0.68 0.78 0.92 1.04 1.17 1.30 1.41 1.52 1.62 1.71 1.82 1.96 2.15 2.35 47 23 0.19 0.21 0.23 0.25 0.28 0.31 0.35 0.40 0.43 0.47 0.55 0.68 0.78 0.91 1.04 1.16 1.28 1.40 1.50 1.61 1.71 1.82 1.96 2.15 2.35 2.58 48 24 0.20 0.21 0.23 0.26 0.29 0.33 0.38 0.43 0.47 0.54 0.66 0.77 0.91 1.03 1.15 1.27 1.39 1.49 1.59 1.70 1.82 1.96 2.15 2.35 2.58 2.84 49 25 0.19 0.20 0.23 0.27 0.31 0.36 0.41 0.46 0.52 0.63 0.75 0.88 1.02 1.14 1.26 1.37 1.48 1.58 1.69 1.80 1.96 2.15 2.35 2.58 2.84 3.13 50 26 0.18 0.20 0.24 0.29 0.34 0.39 0.44 0.51 0.60 0.72 0.85 1.00 1.14 1.26 1.36 1.47 1.58 1.68 1.80 1.95 2.15 2.35 2.58 2.84 3.13 3.45 51 27 0.18 0.21 0.26 0.31 0.36 0.42 0.48 0.57 0.68 0.81 0.96 1.11 1.25 1.36 1.46 1.57 1.68 1.79 1.92 2.14 2.35 2.58 2.84 3.13 3.45 3.80 52 28 0.18 0.22 0.28 0.33 0.39 0.46 0.54 0.64 0.77 0.92 1.07 1.22 1.35 1.45 1.55 1.66 1.79 1.92 2.09 2.34 2.58 2.84 3.13 3.45 3.80 4.18 53 29 0.19 0.24 0.30 0.36 0.43 0.51 0.61 0.73 0.87 1.02 1.17 1.30 1.43 1.53 1.64 1.76 1.91 2.09 2.30 2.57 2.84 3.13 3.45 3.80 4.18 4.61 54 30 0.20 0.25 0.32 0.40 0.48 0.58 0.69 0.82 0.97 1.12 1.25 1.38 1.51 1.62 1.73 1.89 2.09 2.29 2.54 2.82 3.13 3.45 3.80 4.18 4.61 5.09 55 31 0.21 0.27 0.35 0.44 0.54 0.65 0.78 0.91 1.05 1.20 1.33 1.46 1.60 1.72 1.86 2.06 2.29 2.53 2.81 3.10 3.45 3.80 4.18 4.61 5.09 5.64 56 32 0.22 0.30 0.40 0.50 0.61 0.74 0.87 1.00 1.13 1.28 1.41 1.54 1.70 1.85 2.04 2.27 2.52 2.80 3.07 3.41 3.80 4.18 4.61 5.09 5.64 6.26 57 33 0.24 0.33 0.45 0.57 0.69 0.82 0.95 1.07 1.20 1.35 1.49 1.64 1.84 2.03 2.24 2.50 2.78 3.07 3.38 3.76 4.18 4.61 5.09 5.64 6.26 6.95 58 34 0.26 0.37 0.51 0.65 0.77 0.90 1.02 1.14 1.27 1.43 1.58 1.79 2.02 2.24 2.48 2.76 3.06 3.37 3.74 4.16 4.61 5.09 5.64 6.26 6.95 7.71 59 35 0.29 0.42 0.57 0.72 0.85 0.97 1.09 1.21 1.35 1.51 1.75 1.99 2.23 2.48 2.74 3.05 3.37 3.73 4.16 4.61 5.09 5.64 6.26 6.95 7.71 8.56 60 36 0.32 0.46 0.63 0.79 0.91 1.03 1.15 1.28 1.42 1.70 1.98 2.19 2.46 2.73 3.02 3.36 3.73 4.15 4.60 5.09 5.64 6.26 6.95 7.71 8.56 9.51 61 37 0.35 0.51 0.69 0.85 0.98 1.10 1.22 1.36 1.62 1.95 2.18 2.42 2.71 3.02 3.34 3.72 4.14 4.60 5.09 5.64 6.26 6.95 7.71 8.56 9.51 10.55 62 38 0.38 0.55 0.75 0.91 1.04 1.17 1.30 1.55 1.87 2.15 2.40 2.67 3.00 3.34 3.71 4.13 4.59 5.09 5.64 6.26 6.95 7.71 8.56 9.51 10.55 11.68 63 39 0.41 0.59 0.80 0.97 1.11 1.25 1.47 1.78 2.06 2.37 2.65 2.95 3.32 3.70 4.10 4.59 5.09 5.64 6.25 6.94 7.71 8.56 9.51 10.55 11.68 12.92 64 40 0.43 0.62 0.84 1.04 1.19 1.38 1.68 1.97 2.27 2.61 2.93 3.27 3.67 4.10 4.54 5.08 5.63 6.25 6.93 7.70 8.56 9.51 10.55 11.68 12.92 14.26 65 41 0.44 0.65 0.90 1.11 1.29 1.56 1.85 2.17 2.51 2.88 3.24 3.62 4.07 4.54 5.02 5.63 6.25 6.93 7.69 8.54 9.51 10.55 11.68 12.92 14.26 15.70 66 42 0.46 0.68 0.95 1.20 1.42 1.72 2.04 2.39 2.77 3.19 3.59 4.01 4.50 4.99 5.56 6.24 6.92 7.68 8.53 9.48 10.55 11.68 12.92 14.26 15.70 17.23 67 43 0.47 0.71 1.03 1.32 1.57 1.89 2.25 2.65 3.07 3.53 3.97 4.43 4.94 5.51 6.16 6.92 7.67 8.51 9.46 10.50 11.68 12.92 14.26 15.70 17.23 18.84 68 44 0.49 0.76 1.12 1.46 1.73 2.10 2.49 2.93 3.40 3.91 4.39 4.85 5.43 6.10 6.83 7.66 8.50 9.45 10.50 11.65 12.92 14.26 15.70 17.23 18.84 20.57 69 45 0.51 0.82 1.23 1.61 1.92 2.32 2.76 3.24 3.76 4.32 4.81 5.33 6.02 6.77 7.57 8.48 9.44 10.49 11.64 12.86 14.26 15.70 17.23 18.84 20.57 22.49 70 46 0.55 0.89 1.35 1.78 2.12 2.57 3.06 3.60 4.17 4.73 5.27 5.91 6.68 7.51 8.40 9.41 10.48 11.63 12.85 14.14 15.70 17.23 18.84 20.57 22.49 24.48 71 47 0.58 0.97 1.48 1.97 2.36 2.85 3.40 3.99 4.57 5.19 5.85 6.56 7.41 8.34 9.33 10.44 11.62 12.84 14.12 15.57 17.23 18.84 20.57 22.49 24.48 26.55 72 48 0.62 1.05 1.63 2.18 2.62 3.17 3.77 4.37 5.01 5.76 6.49 7.27 8.22 9.24 10.33 11.55 12.84 14.12 15.49 17.08 18.84 20.57 22.49 24.48 26.55 28.81 73 49 0.67 1.14 1.79 2.41 2.91 3.52 4.15 4.81 5.57 6.40 7.20 8.04 9.09 10.21 11.40 12.73 14.12 15.48 17.00 18.64 20.57 22.49 24.48 26.55 28.81 31.28 74 50 0.72 1.25 1.97 2.67 3.24 3.90 4.58 5.34 6.19 7.12 7.98 8.90 10.05 11.28 12.57 13.99 15.48 16.99 18.62 20.30 22.49 24.48 26.55 28.81 31.28 34.03 75 51 0.77 1.36 2.17 2.96 3.61 4.32 5.09 5.95 6.89 7.93 8.87 9.91 11.13 12.46 13.85 15.38 16.97 18.60 20.29 22.13 24.48 26.55 28.81 31.28 34.03 37.08 76 52 0.83 1.49 2.40 3.28 4.03 4.81 5.68 6.62 7.68 8.83 9.87 11.06 12.33 13.77 15.30 16.92 18.59 20.28 22.10 24.08 26.55 28.81 31.28 34.03 37.08 40.46 77 53 0.90 1.63 2.64 3.64 4.49 5.37 6.33 7.39 8.56 9.83 10.99 12.29 13.69 15.23 16.88 18.57 20.27 22.07 24.05 26.30 28.81 31.28 34.03 37.08 40.46 44.19 78 54 0.97 1.79 2.91 4.04 5.02 6.00 7.08 8.25 9.55 10.94 12.25 13.64 15.20 16.84 18.56 20.26 22.04 24.02 26.24 28.75 31.28 34.03 37.08 40.46 44.19 48.74 79 55 1.06 1.97 3.22 4.49 5.62 6.71 7.92 9.22 10.64 12.16 13.62 15.13 16.82 18.54 20.25 22.01 23.99 26.21 28.62 31.28 34.03 37.08 40.46 44.19 48.74 54.43 80 56 1.15 2.17 3.56 5.00 6.31 7.53 8.87 10.30 11.85 13.50 15.07 16.69 18.47 20.24 21.97 23.97 26.18 28.57 31.11 34.03 37.08 40.46 44.19 48.74 54.43 61.02 81 57 1.24 2.39 3.95 5.58 7.10 8.45 9.92 11.49 13.17 14.93 16.59 18.28 20.10 21.94 23.84 26.08 28.52 31.06 33.85 37.08 40.46 44.19 48.74 54.43 61.02 68.45 82 58 1.36 2.64 4.38 6.24 7.99 9.48 11.09 12.79 14.59 16.46 18.20 19.94 21.87 23.79 25.90 28.35 31.02 33.82 36.91 40.46 44.19 48.74 54.43 61.02 68.45 76.39 83 59 1.48 2.92 4.89 7.00 8.99 10.62 12.37 14.19 16.11 18.06 19.88 21.76 23.71 25.82 28.20 30.89 33.79 36.87 40.28 44.19 48.74 54.43 61.02 68.45 76.39 84.02 84 60 1.62 3.25 5.46 7.85 10.11 11.88 13.76 15.70 17.71 19.73 21.70 23.60 25.67 28.10 30.76 33.67 36.82 40.19 44.02 48.74 54.43 61.02 68.45 76.39 84.02 93.23 85 61 1.78 3.62 6.10 8.81 11.36 13.26 15.26 17.30 19.37 21.54 23.48 25.46 27.90 30.63 33.51 36.63 40.11 43.90 48.66 54.43 61.02 68.45 76.39 84.02 93.23 104.03 86 62 1.96 4.03 6.84 9.90 12.74 14.76 16.86 18.97 21.19 23.31 25.26 27.65 30.40 33.32 36.38 39.80 43.74 48.50 54.43 61.02 68.45 76.39 84.02 93.23 104.03 114.61 87 63 2.16 4.50 7.67 11.12 14.23 16.36 18.54 20.78 22.95 25.05 27.36 30.17 32.88 35.91 39.21 43.25 48.25 54.32 61.02 68.45 76.39 84.02 93.23 104.03 114.61 125.99 88 64 2.38 5.01 8.60 12.48 15.83 18.05 20.34 22.55 24.67 27.23 29.89 32.74 35.19 38.41 42.21 47.54 53.88 61.02 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 89 65 2.62 5.58 9.64 13.99 17.52 19.83 22.12 24.24 26.82 29.78 32.60 35.13 37.55 41.31 46.13 53.01 60.71 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 90 66 2.88 6.19 10.82 15.66 19.28 21.61 23.80 26.36 29.38 32.46 35.07 37.43 40.78 45.62 52.06 60.09 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 91 67 3.16 6.86 12.15 17.52 21.09 23.31 25.91 28.96 32.08 35.00 37.32 40.64 45.53 51.89 59.82 68.13 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 92 68 3.48 7.58 13.64 19.56 22.80 25.40 28.54 31.68 34.55 37.20 40.50 45.44 51.72 59.56 67.80 75.95 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 93 69 3.81 8.36 15.31 21.79 24.85 28.04 31.24 34.02 36.83 40.40 45.35 51.55 59.29 67.48 75.51 83.75 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 94

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2015 VBT FEMALE SMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 4.18 9.18 17.18 24.23 27.50 30.72 33.44 36.09 39.91 45.17 51.38 59.02 67.15 75.07 83.16 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 95 71 4.58 10.08 19.26 26.89 30.15 32.77 35.26 39.02 44.30 50.82 58.57 66.83 74.63 82.57 92.20 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 96 72 5.02 11.05 21.55 29.51 32.03 34.32 38.01 43.27 49.74 57.66 66.30 73.64 81.98 91.45 103.28 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 97 73 5.50 12.13 24.07 31.22 33.29 36.90 42.12 48.50 56.34 65.21 73.27 80.18 89.61 102.72 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 98 74 6.05 13.34 26.82 32.20 35.70 40.87 47.14 54.85 62.39 72.50 79.80 88.50 101.02 114.22 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 99 75 6.66 14.70 29.29 34.42 39.53 45.66 53.19 60.83 68.22 79.41 88.20 100.85 113.89 125.44 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 100 76 7.36 16.22 31.41 38.10 44.06 51.36 59.17 66.67 74.99 87.90 100.68 113.38 124.87 137.67 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 101 77 8.16 17.94 33.68 42.34 49.36 57.96 65.12 73.31 82.99 99.41 112.78 123.80 136.91 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 102 78 9.06 19.86 36.15 47.20 56.17 64.10 71.64 81.11 93.21 110.82 122.57 135.53 149.77 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 103 79 10.08 22.07 38.85 53.04 63.29 69.86 79.23 91.67 103.14 121.01 133.79 148.96 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 104 80 11.28 24.62 41.98 58.38 68.95 77.23 88.02 102.01 112.13 131.42 147.12 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 105 81 12.67 27.46 45.58 62.57 74.14 85.06 96.28 110.25 124.49 144.10 161.92 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 106 82 14.25 30.65 49.51 66.96 79.69 92.02 103.30 121.03 139.98 160.31 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 107 83 16.04 34.23 53.73 71.53 85.47 98.30 113.34 134.76 157.90 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 108 84 18.10 38.24 58.25 76.19 91.00 106.46 127.26 152.93 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 109 85 20.45 42.67 62.97 80.75 97.36 117.22 145.39 173.42 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 110 86 23.10 47.54 67.74 85.02 105.35 133.94 169.28 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 111 87 26.09 52.83 72.38 91.33 119.83 163.14 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 112 88 29.42 58.48 76.81 103.51 147.14 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 113 89 33.08 64.37 83.74 121.12 178.83 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 114 90 38.03 68.71 102.02 160.89 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 115 91 46.10 85.22 153.21 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 116 92 58.51 119.95 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 117 93 75.79 149.35 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 98.63 188.48 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 128.07 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

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![LOGO](g95392dsp129.jpg)

2015 VBT MALE NONSMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.66 0.69 0.71 0.71 0.69 0.69 0.68 0.66 0.57 0.52 0.50 0.47 0.46 0.49 0.52 0.58 0.66 0.77 0.89 1.01 1.11 1.17 1.24 1.31 1.40 1.48 43 19 0.60 0.62 0.66 0.63 0.62 0.61 0.61 0.56 0.49 0.46 0.46 0.45 0.45 0.50 0.55 0.59 0.68 0.80 0.92 1.04 1.14 1.20 1.27 1.35 1.44 1.54 44 20 0.51 0.57 0.57 0.55 0.53 0.52 0.51 0.47 0.43 0.44 0.44 0.45 0.46 0.51 0.57 0.62 0.71 0.82 0.94 1.07 1.16 1.22 1.29 1.38 1.49 1.59 45 21 0.45 0.52 0.47 0.44 0.43 0.43 0.42 0.40 0.38 0.41 0.43 0.45 0.48 0.53 0.59 0.64 0.73 0.84 0.97 1.09 1.17 1.23 1.30 1.41 1.53 1.65 46 22 0.41 0.43 0.39 0.37 0.36 0.36 0.36 0.35 0.35 0.40 0.43 0.46 0.49 0.56 0.62 0.66 0.76 0.88 1.01 1.11 1.17 1.23 1.30 1.43 1.58 1.71 47 23 0.35 0.36 0.33 0.31 0.31 0.31 0.31 0.33 0.34 0.40 0.43 0.47 0.52 0.59 0.64 0.69 0.79 0.92 1.04 1.12 1.18 1.23 1.31 1.45 1.63 1.79 48 24 0.30 0.31 0.28 0.27 0.27 0.27 0.29 0.32 0.34 0.41 0.45 0.50 0.55 0.61 0.67 0.73 0.84 0.97 1.07 1.12 1.19 1.24 1.35 1.51 1.70 1.88 49 25 0.26 0.27 0.25 0.25 0.25 0.26 0.28 0.32 0.35 0.42 0.47 0.53 0.58 0.65 0.71 0.78 0.90 1.02 1.09 1.13 1.19 1.28 1.43 1.61 1.80 1.99 50 26 0.22 0.24 0.23 0.24 0.24 0.26 0.29 0.33 0.36 0.45 0.51 0.57 0.62 0.69 0.77 0.85 0.97 1.06 1.11 1.16 1.24 1.37 1.55 1.74 1.95 2.16 51 27 0.20 0.22 0.22 0.24 0.25 0.27 0.31 0.35 0.39 0.48 0.55 0.62 0.67 0.75 0.83 0.91 1.02 1.10 1.15 1.22 1.33 1.49 1.68 1.89 2.12 2.36 52 28 0.18 0.20 0.21 0.25 0.27 0.30 0.33 0.38 0.42 0.53 0.60 0.67 0.72 0.81 0.90 0.97 1.07 1.14 1.22 1.31 1.45 1.63 1.84 2.06 2.31 2.58 53 29 0.16 0.18 0.22 0.25 0.28 0.31 0.34 0.39 0.44 0.55 0.63 0.69 0.75 0.84 0.93 1.01 1.12 1.21 1.30 1.42 1.58 1.78 2.00 2.25 2.53 2.80 54 30 0.15 0.16 0.22 0.26 0.28 0.31 0.34 0.40 0.47 0.57 0.65 0.70 0.76 0.86 0.95 1.07 1.19 1.29 1.39 1.54 1.72 1.94 2.19 2.46 2.75 3.02 55 31 0.14 0.15 0.22 0.26 0.29 0.32 0.36 0.42 0.52 0.61 0.68 0.73 0.80 0.89 1.00 1.13 1.26 1.37 1.50 1.66 1.87 2.12 2.39 2.68 2.97 3.22 56 32 0.14 0.15 0.23 0.28 0.31 0.34 0.40 0.46 0.57 0.66 0.71 0.76 0.84 0.94 1.07 1.21 1.34 1.47 1.61 1.80 2.03 2.30 2.60 2.90 3.18 3.43 57 33 0.14 0.16 0.25 0.29 0.32 0.37 0.44 0.51 0.62 0.70 0.75 0.80 0.89 1.01 1.14 1.29 1.43 1.57 1.73 1.94 2.21 2.51 2.82 3.13 3.40 3.66 58 34 0.15 0.17 0.27 0.31 0.36 0.41 0.47 0.57 0.66 0.73 0.78 0.85 0.96 1.09 1.22 1.37 1.53 1.68 1.87 2.11 2.41 2.74 3.06 3.36 3.64 3.93 59 35 0.15 0.18 0.29 0.34 0.40 0.45 0.51 0.62 0.70 0.76 0.83 0.92 1.04 1.17 1.31 1.47 1.63 1.80 2.02 2.30 2.64 2.99 3.32 3.62 3.92 4.28 60 36 0.15 0.20 0.31 0.38 0.44 0.49 0.57 0.67 0.74 0.81 0.90 1.00 1.13 1.27 1.42 1.58 1.75 1.95 2.21 2.53 2.91 3.27 3.61 3.92 4.28 4.74 61 37 0.15 0.21 0.34 0.41 0.48 0.54 0.63 0.71 0.78 0.88 0.99 1.10 1.23 1.38 1.53 1.70 1.90 2.13 2.44 2.81 3.21 3.58 3.92 4.28 4.72 5.27 62 38 0.15 0.24 0.37 0.44 0.51 0.60 0.68 0.76 0.85 0.97 1.09 1.21 1.35 1.51 1.67 1.85 2.08 2.36 2.72 3.14 3.55 3.91 4.28 4.70 5.24 5.88 63 39 0.16 0.28 0.41 0.49 0.56 0.65 0.73 0.82 0.93 1.07 1.19 1.32 1.48 1.65 1.82 2.03 2.30 2.64 3.06 3.50 3.90 4.28 4.68 5.18 5.84 6.54 64 40 0.18 0.33 0.45 0.53 0.62 0.70 0.78 0.88 1.02 1.17 1.30 1.44 1.62 1.81 2.01 2.26 2.58 2.99 3.44 3.88 4.28 4.68 5.12 5.76 6.48 7.25 65 41 0.21 0.37 0.49 0.57 0.67 0.75 0.84 0.96 1.11 1.27 1.42 1.57 1.78 2.00 2.22 2.52 2.92 3.38 3.85 4.28 4.67 5.09 5.64 6.37 7.15 8.02 66 42 0.24 0.41 0.52 0.62 0.72 0.79 0.89 1.04 1.21 1.38 1.53 1.71 1.95 2.20 2.47 2.83 3.30 3.80 4.27 4.67 5.07 5.56 6.22 7.01 7.88 8.86 67 43 0.29 0.44 0.56 0.68 0.76 0.84 0.96 1.13 1.31 1.48 1.65 1.87 2.15 2.43 2.75 3.18 3.71 4.22 4.67 5.05 5.50 6.12 6.89 7.77 8.72 9.79 68 44 0.33 0.47 0.60 0.74 0.81 0.90 1.05 1.23 1.41 1.59 1.80 2.06 2.37 2.69 3.06 3.55 4.12 4.64 5.05 5.48 6.00 6.78 7.68 8.65 9.69 10.88 69 45 0.38 0.50 0.65 0.80 0.87 0.99 1.16 1.35 1.53 1.73 1.98 2.27 2.61 2.97 3.40 3.94 4.53 5.03 5.48 5.98 6.61 7.58 8.58 9.65 10.82 12.16 70 46 0.43 0.52 0.71 0.86 0.95 1.10 1.30 1.48 1.66 1.89 2.19 2.52 2.88 3.26 3.74 4.33 4.95 5.46 5.95 6.52 7.34 8.50 9.60 10.79 12.14 13.69 71 47 0.47 0.55 0.77 0.94 1.05 1.24 1.45 1.62 1.81 2.10 2.44 2.78 3.15 3.58 4.10 4.74 5.39 5.94 6.48 7.18 8.22 9.57 10.77 12.12 13.65 15.48 72 48 0.50 0.58 0.84 1.02 1.18 1.40 1.60 1.77 2.00 2.35 2.72 3.06 3.44 3.90 4.48 5.17 5.85 6.44 7.09 7.97 9.23 10.74 12.10 13.62 15.40 17.55 73 49 0.52 0.64 0.92 1.11 1.32 1.56 1.74 1.92 2.22 2.63 3.01 3.34 3.73 4.24 4.88 5.63 6.35 7.00 7.79 8.87 10.36 11.99 13.56 15.37 17.43 19.89 74 50 0.52 0.72 1.01 1.22 1.48 1.70 1.87 2.09 2.47 2.94 3.31 3.65 4.05 4.63 5.34 6.14 6.91 7.65 8.62 9.91 11.56 13.30 15.14 17.29 19.72 22.48 75 51 0.53 0.82 1.12 1.35 1.63 1.82 1.99 2.29 2.76 3.26 3.62 4.01 4.43 5.10 5.90 6.75 7.57 8.44 9.61 11.11 12.91 14.77 16.86 19.35 22.18 25.32 76 52 0.53 0.93 1.24 1.51 1.77 1.94 2.15 2.52 3.07 3.60 3.97 4.39 4.90 5.70 6.58 7.50 8.40 9.50 10.80 12.49 14.45 16.50 18.85 21.68 24.89 28.46 77 53 0.54 1.04 1.38 1.71 1.92 2.09 2.35 2.80 3.42 3.95 4.36 4.83 5.52 6.45 7.42 8.39 9.47 10.74 12.24 14.10 16.20 18.63 21.40 24.58 28.04 31.99 78 54 0.54 1.13 1.54 1.88 2.06 2.24 2.58 3.15 3.80 4.34 4.80 5.41 6.32 7.37 8.38 9.45 10.68 12.12 13.94 16.02 18.34 21.22 24.42 27.96 31.81 36.04 79 55 0.59 1.19 1.71 2.03 2.21 2.44 2.88 3.56 4.22 4.79 5.37 6.18 7.25 8.36 9.43 10.64 12.05 13.79 15.91 18.27 20.96 24.22 27.81 31.77 36.04 40.76 80 56 0.70 1.24 1.88 2.19 2.40 2.70 3.28 4.01 4.67 5.31 6.06 7.09 8.29 9.41 10.57 11.98 13.70 15.74 18.14 20.81 23.88 27.50 31.68 36.04 40.76 46.15 81 57 0.85 1.28 2.04 2.37 2.64 3.03 3.75 4.50 5.17 5.92 6.87 8.09 9.37 10.55 11.87 13.53 15.61 17.97 20.66 23.68 27.24 31.37 35.97 40.76 46.15 52.27 82 58 1.05 1.35 2.17 2.57 2.87 3.44 4.25 5.00 5.71 6.63 7.78 9.13 10.50 11.86 13.38 15.33 17.81 20.50 23.47 26.82 30.96 35.72 40.76 46.15 52.27 59.31 83 59 1.26 1.46 2.27 2.72 3.13 3.90 4.74 5.49 6.31 7.42 8.78 10.25 11.74 13.26 15.02 17.36 20.25 23.31 26.65 30.56 35.26 40.57 46.15 52.27 59.31 67.48 84 60 1.44 1.62 2.38 2.82 3.45 4.35 5.20 5.99 6.96 8.28 9.82 11.41 13.00 14.70 16.83 19.62 22.94 26.42 30.30 34.87 40.24 46.15 52.27 59.31 67.48 76.96 85 61 1.56 1.84 2.50 2.98 3.82 4.79 5.64 6.52 7.68 9.19 10.84 12.52 14.25 16.26 18.85 22.11 25.88 29.90 34.52 39.81 45.87 52.27 59.31 67.48 76.96 87.87 86 62 1.63 2.12 2.68 3.24 4.24 5.22 6.09 7.10 8.46 10.14 11.89 13.68 15.62 18.03 21.10 24.84 29.11 33.74 39.19 45.28 52.27 59.31 67.48 76.96 87.87 100.29 87 63 1.69 2.41 2.95 3.62 4.72 5.67 6.60 7.77 9.33 11.17 13.00 14.90 17.15 19.98 23.52 27.83 32.83 38.39 44.71 51.75 59.31 67.48 76.96 87.87 100.29 114.02 88 64 1.76 2.72 3.29 4.09 5.26 6.18 7.19 8.55 10.31 12.31 14.24 16.29 18.88 22.14 26.13 31.12 37.06 43.66 51.18 59.31 67.48 76.96 87.87 100.29 114.02 128.76 89 65 1.83 3.05 3.72 4.62 5.89 6.78 7.91 9.46 11.43 13.65 15.73 17.99 20.97 24.66 29.12 35.10 42.41 50.14 58.75 67.48 76.96 87.87 100.29 114.02 128.76 144.17 90 66 1.93 3.35 4.19 5.22 6.60 7.50 8.77 10.52 12.74 15.26 17.63 20.20 23.61 27.79 32.76 39.79 48.73 57.78 67.48 76.96 87.87 100.29 114.02 128.76 144.17 159.79 91 67 2.06 3.63 4.71 5.90 7.30 8.35 9.77 11.75 14.30 17.24 20.04 23.21 26.96 31.69 37.24 45.32 55.69 65.94 76.96 87.87 100.29 114.02 128.76 144.17 159.79 175.30 92 68 2.23 3.92 5.27 6.66 8.07 9.32 10.91 13.18 16.32 19.68 23.08 26.87 31.15 36.68 42.96 52.22 63.81 75.42 87.87 100.29 114.02 128.76 144.17 159.79 175.30 190.25 93 69 2.41 4.19 5.85 7.45 8.93 10.28 12.11 15.04 18.54 22.38 26.71 30.99 36.46 42.86 50.84 60.94 74.06 87.04 100.29 114.02 128.76 144.17 159.79 175.30 190.25 203.94 94

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![LOGO](g95392dsp130.jpg)

2015 VBT MALE NONSMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 2.59 4.41 6.38 8.21 9.69 11.24 13.60 17.08 20.74 25.22 30.76 36.30 42.68 50.52 59.16 70.86 85.79 100.29 114.02 128.76 144.17 159.79 175.30 190.25 203.94 218.45 95 71 2.78 4.62 6.93 8.99 10.50 12.56 15.41 19.04 23.33 28.87 35.82 42.56 50.11 58.75 67.43 81.45 98.11 114.02 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 96 72 3.01 4.90 7.55 9.90 11.75 14.28 17.40 21.36 26.78 33.59 42.11 49.94 58.42 67.28 79.18 95.56 112.86 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 97 73 3.30 5.31 8.37 11.07 13.39 16.27 19.90 24.45 31.08 39.19 49.69 58.35 67.20 78.00 93.41 111.93 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 98 74 3.65 5.86 9.37 12.50 15.22 18.66 22.99 28.34 36.22 45.73 58.19 67.13 77.53 91.65 108.77 127.96 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 99 75 3.99 6.42 10.44 14.17 17.42 21.52 26.60 32.99 42.24 53.01 66.84 77.14 90.91 107.84 126.69 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 100 76 4.24 6.83 11.26 15.64 19.59 24.28 30.18 38.43 48.97 60.81 76.46 89.99 107.32 126.31 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 101 77 4.42 7.13 11.91 16.91 21.46 27.05 33.75 44.56 56.24 69.32 88.55 105.91 125.47 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 102 78 4.61 7.47 12.67 18.28 23.43 29.97 37.78 50.32 63.25 78.93 102.53 122.95 143.48 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 103 79 4.78 7.80 13.45 19.74 25.52 32.60 41.98 55.30 70.08 89.81 118.04 141.66 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 104 80 5.07 8.34 14.72 21.90 28.33 36.23 47.46 61.70 80.04 104.19 135.37 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 105 81 5.54 9.21 16.68 25.02 32.42 41.40 55.05 72.28 94.85 125.34 155.65 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 106 82 6.24 10.50 19.46 29.31 38.22 48.80 65.69 88.25 117.04 152.45 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 107 83 7.27 12.50 23.82 36.00 47.19 61.04 82.30 113.08 148.82 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 108 84 8.57 15.11 29.54 44.82 59.35 78.13 105.78 140.92 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 109 85 10.25 18.42 36.78 56.17 75.65 100.97 133.91 167.51 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 110 86 12.32 22.63 46.13 71.55 97.66 129.69 165.42 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 111 87 14.55 27.50 57.18 90.24 124.30 163.40 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 112 88 16.83 32.62 69.54 111.42 153.75 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 113 89 19.34 38.13 83.50 136.22 182.90 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 114 90 23.37 52.47 113.46 172.67 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 115 91 31.59 79.88 165.78 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 116 92 46.10 117.11 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 117 93 68.04 150.88 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 98.17 192.89 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 137.03 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

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![LOGO](g95392dsp131.jpg)

2015 VBT MALE SMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.67 0.70 0.72 0.75 0.78 0.80 0.83 0.85 0.84 0.83 0.82 0.82 0.84 0.88 0.95 1.02 1.10 1.19 1.30 1.42 1.58 1.79 2.01 2.24 2.46 2.65 43 19 0.64 0.66 0.69 0.71 0.73 0.76 0.78 0.78 0.78 0.78 0.78 0.80 0.85 0.91 0.98 1.06 1.15 1.25 1.40 1.57 1.77 2.00 2.23 2.44 2.63 2.79 44 20 0.60 0.63 0.65 0.67 0.69 0.71 0.73 0.73 0.73 0.74 0.76 0.81 0.87 0.95 1.03 1.11 1.21 1.37 1.56 1.76 1.98 2.21 2.43 2.61 2.77 2.94 45 21 0.56 0.58 0.60 0.62 0.64 0.67 0.68 0.68 0.70 0.72 0.77 0.84 0.91 0.99 1.08 1.17 1.34 1.54 1.74 1.96 2.20 2.41 2.60 2.75 2.92 3.13 46 22 0.52 0.53 0.54 0.58 0.61 0.63 0.64 0.65 0.69 0.74 0.80 0.87 0.95 1.04 1.14 1.31 1.52 1.72 1.94 2.18 2.40 2.58 2.74 2.91 3.12 3.34 47 23 0.48 0.49 0.51 0.55 0.58 0.59 0.61 0.65 0.70 0.76 0.84 0.91 1.00 1.10 1.28 1.50 1.69 1.91 2.15 2.38 2.57 2.72 2.89 3.10 3.33 3.57 48 24 0.44 0.47 0.49 0.52 0.55 0.57 0.61 0.66 0.73 0.80 0.88 0.96 1.06 1.23 1.46 1.66 1.88 2.12 2.35 2.55 2.71 2.89 3.09 3.32 3.56 3.83 49 25 0.41 0.45 0.47 0.50 0.53 0.57 0.63 0.69 0.77 0.85 0.93 1.02 1.17 1.41 1.62 1.85 2.09 2.32 2.53 2.70 2.88 3.09 3.31 3.56 3.83 4.13 50 26 0.37 0.43 0.46 0.49 0.53 0.59 0.66 0.73 0.81 0.90 0.99 1.10 1.33 1.56 1.80 2.04 2.28 2.50 2.68 2.88 3.09 3.31 3.55 3.82 4.13 4.47 51 27 0.34 0.41 0.45 0.49 0.55 0.62 0.70 0.78 0.87 0.97 1.07 1.22 1.48 1.73 1.98 2.22 2.45 2.65 2.86 3.08 3.30 3.55 3.82 4.12 4.47 4.86 52 28 0.32 0.40 0.47 0.52 0.60 0.67 0.75 0.83 0.93 1.04 1.18 1.35 1.63 1.90 2.14 2.37 2.59 2.81 3.07 3.30 3.54 3.81 4.12 4.46 4.85 5.28 53 29 0.31 0.42 0.51 0.58 0.66 0.74 0.81 0.90 1.01 1.15 1.31 1.50 1.78 2.04 2.26 2.49 2.74 3.01 3.29 3.54 3.81 4.11 4.46 4.85 5.28 5.77 54 30 0.31 0.44 0.56 0.65 0.73 0.81 0.88 0.97 1.11 1.28 1.45 1.64 1.91 2.15 2.37 2.62 2.93 3.23 3.53 3.80 4.11 4.45 4.84 5.28 5.76 6.32 55 31 0.32 0.47 0.61 0.71 0.80 0.87 0.95 1.06 1.23 1.42 1.60 1.77 2.03 2.26 2.50 2.81 3.15 3.47 3.80 4.10 4.45 4.84 5.27 5.76 6.31 6.94 56 32 0.33 0.50 0.66 0.77 0.87 0.94 1.03 1.18 1.36 1.56 1.74 1.90 2.14 2.39 2.68 3.02 3.39 3.73 4.10 4.44 4.83 5.27 5.75 6.30 6.93 7.65 57 33 0.33 0.52 0.70 0.81 0.92 1.02 1.13 1.31 1.50 1.70 1.83 2.01 2.27 2.57 2.88 3.25 3.65 4.04 4.44 4.83 5.26 5.75 6.29 6.92 7.64 8.46 58 34 0.34 0.54 0.74 0.85 0.97 1.10 1.24 1.44 1.63 1.79 1.91 2.15 2.45 2.77 3.11 3.52 3.96 4.38 4.82 5.26 5.74 6.29 6.91 7.64 8.46 9.39 59 35 0.35 0.56 0.78 0.89 1.03 1.19 1.37 1.56 1.72 1.85 2.05 2.33 2.65 3.00 3.37 3.82 4.30 4.76 5.25 5.73 6.28 6.90 7.63 8.45 9.38 10.45 60 36 0.37 0.59 0.84 0.96 1.12 1.30 1.49 1.65 1.76 1.97 2.24 2.53 2.88 3.26 3.67 4.16 4.68 5.18 5.73 6.27 6.89 7.62 8.45 9.38 10.45 11.66 61 37 0.39 0.64 0.91 1.06 1.23 1.41 1.58 1.69 1.87 2.16 2.45 2.76 3.15 3.57 4.02 4.54 5.11 5.66 6.26 6.88 7.62 8.44 9.37 10.44 11.66 13.03 62 38 0.42 0.70 1.00 1.16 1.33 1.50 1.63 1.80 2.07 2.38 2.69 3.03 3.46 3.92 4.41 4.98 5.59 6.19 6.87 7.61 8.44 9.37 10.44 11.66 13.03 14.53 63 39 0.46 0.77 1.09 1.26 1.43 1.56 1.74 2.00 2.30 2.63 2.97 3.35 3.82 4.33 4.87 5.48 6.13 6.79 7.60 8.43 9.36 10.44 11.66 13.02 14.52 16.18 64 40 0.51 0.85 1.18 1.35 1.50 1.68 1.94 2.23 2.55 2.91 3.29 3.71 4.23 4.80 5.39 6.04 6.73 7.56 8.43 9.36 10.44 11.65 13.02 14.52 16.17 17.98 65 41 0.56 0.93 1.25 1.44 1.62 1.88 2.18 2.49 2.83 3.23 3.64 4.12 4.71 5.33 5.97 6.66 7.53 8.43 9.36 10.43 11.65 13.02 14.51 16.16 17.97 19.89 66 42 0.61 1.01 1.32 1.54 1.80 2.10 2.43 2.78 3.15 3.58 4.05 4.59 5.25 5.93 6.62 7.45 8.42 9.35 10.43 11.65 13.02 14.51 16.14 17.97 19.89 21.90 67 43 0.66 1.08 1.41 1.69 2.00 2.35 2.72 3.09 3.50 3.98 4.51 5.12 5.85 6.60 7.39 8.37 9.35 10.43 11.65 13.02 14.51 16.13 17.96 19.89 21.89 24.05 68 44 0.70 1.16 1.53 1.86 2.23 2.63 3.03 3.43 3.88 4.44 5.04 5.73 6.55 7.37 8.28 9.34 10.43 11.65 13.02 14.50 16.12 17.95 19.88 21.89 24.03 26.41 69 45 0.75 1.25 1.67 2.06 2.49 2.93 3.36 3.81 4.32 4.95 5.64 6.43 7.33 8.25 9.27 10.42 11.65 13.02 14.50 16.11 17.94 19.88 21.88 24.02 26.37 29.08 70 46 0.82 1.36 1.82 2.29 2.78 3.27 3.73 4.22 4.81 5.54 6.33 7.27 8.23 9.26 10.39 11.64 13.02 14.49 16.09 17.93 19.88 21.88 24.01 26.33 29.02 32.11 71 47 0.89 1.48 2.01 2.56 3.11 3.63 4.13 4.68 5.36 6.21 7.22 8.22 9.25 10.39 11.64 13.02 14.49 16.08 17.92 19.88 21.87 24.00 26.29 28.96 32.06 35.47 72 48 0.97 1.61 2.24 2.88 3.49 4.03 4.58 5.20 5.99 7.15 8.22 9.23 10.39 11.64 13.02 14.49 16.07 17.91 19.87 21.87 23.98 26.24 28.90 32.00 35.44 39.08 73 49 1.06 1.76 2.50 3.26 3.90 4.48 5.07 5.79 7.03 8.22 9.21 10.36 11.64 13.02 14.48 16.06 17.90 19.87 21.87 23.97 26.20 28.84 31.94 35.40 39.02 42.83 74 50 1.16 1.93 2.81 3.69 4.38 4.97 5.69 6.84 8.21 9.20 10.33 11.61 13.02 14.48 16.04 17.89 19.87 21.86 23.91 26.16 28.77 31.88 35.37 38.96 42.76 46.60 75 51 1.27 2.13 3.18 4.20 4.91 5.61 6.73 8.07 9.18 10.30 11.59 13.00 14.48 16.03 17.87 19.87 21.85 23.84 26.06 28.71 31.82 35.33 38.90 42.70 46.52 50.33 76 52 1.40 2.34 3.61 4.79 5.55 6.59 7.89 9.09 10.27 11.56 12.97 14.46 16.02 17.86 19.83 21.84 23.77 25.97 28.65 31.76 35.30 38.84 42.64 46.44 50.15 54.04 77 53 1.54 2.59 4.11 5.47 6.42 7.67 8.90 10.24 11.54 12.95 14.44 16.01 17.84 19.80 21.81 23.70 25.87 28.59 31.71 35.26 38.78 42.57 46.37 49.97 53.79 57.84 78 54 1.70 2.88 4.69 6.24 7.40 8.66 10.03 11.51 12.93 14.43 15.99 17.82 19.77 21.78 23.64 25.78 28.53 31.65 35.23 38.72 42.51 46.29 49.80 53.54 57.69 61.88 79 55 1.88 3.21 5.35 7.10 8.38 9.77 11.28 12.91 14.41 15.98 17.81 19.74 21.75 23.57 25.68 28.46 31.59 35.19 38.65 42.44 46.21 49.62 53.29 57.54 61.88 66.27 80 56 2.08 3.58 6.09 8.06 9.46 10.98 12.63 14.40 15.97 17.79 19.71 21.72 23.50 25.59 28.40 31.53 35.16 38.59 42.38 46.13 49.44 53.04 57.36 61.88 66.27 70.94 81 57 2.31 4.00 6.88 9.10 10.62 12.28 14.07 15.96 17.78 19.68 21.69 23.43 25.49 28.34 31.47 35.12 38.53 42.32 46.05 49.26 52.80 57.17 61.83 66.27 70.94 76.84 82 58 2.56 4.48 7.73 10.22 11.86 13.64 15.55 17.54 19.64 21.66 23.36 25.39 28.28 31.41 35.09 38.47 42.25 45.98 49.08 52.55 56.99 61.77 66.27 70.94 76.84 84.42 83 59 2.84 5.01 8.61 11.39 13.15 15.04 17.05 19.15 21.39 23.30 25.30 28.22 31.36 35.05 38.41 42.19 45.90 48.90 52.30 56.80 61.72 66.25 70.94 76.84 84.42 93.03 84 60 3.15 5.60 9.51 12.60 14.46 16.45 18.38 20.60 22.99 25.20 28.15 31.30 35.02 38.35 42.12 45.82 48.73 52.05 56.61 61.66 66.18 70.94 76.84 84.42 93.03 102.79 85 61 3.49 6.24 10.42 13.81 15.77 17.67 19.42 21.73 24.27 27.32 30.47 33.79 38.29 42.06 45.74 48.55 51.80 56.43 61.60 66.15 70.89 76.84 84.42 93.03 102.79 113.76 86 62 3.86 6.92 11.32 15.00 17.07 18.93 20.41 22.62 25.35 28.62 31.93 35.34 40.13 45.67 48.37 51.55 56.24 61.54 66.01 70.72 76.84 84.42 93.03 102.79 113.76 125.86 87 63 4.25 7.63 12.20 16.17 18.41 20.14 21.64 23.98 27.08 30.10 33.42 36.73 41.46 48.19 51.30 56.06 61.48 65.88 70.48 76.67 84.42 93.03 102.79 113.76 125.86 138.82 88 64 4.66 8.34 13.06 17.36 19.69 21.40 23.42 26.22 29.27 32.51 35.73 38.74 43.44 51.06 55.87 61.42 65.75 70.24 76.42 84.42 93.03 102.79 113.76 125.86 138.82 152.25 89 65 5.08 9.06 13.93 18.63 21.15 23.25 25.73 28.67 31.66 35.56 38.46 42.12 46.02 53.88 60.63 65.62 70.00 76.23 84.29 93.03 102.79 113.76 125.86 138.82 152.25 165.84 90 66 5.51 9.79 14.86 20.07 23.03 25.50 28.29 31.33 34.64 38.29 41.73 45.61 48.85 57.07 64.20 69.76 76.06 84.08 93.03 102.79 113.76 125.86 138.82 152.25 165.84 179.17 91 67 5.97 10.57 15.89 21.79 25.24 28.06 31.11 34.31 37.66 41.34 45.19 48.66 54.15 60.88 68.54 75.16 83.90 92.63 102.79 113.76 125.86 138.82 152.25 165.84 179.17 192.04 92 68 6.46 11.42 17.10 23.84 27.76 30.86 34.09 37.34 40.69 44.78 48.48 53.70 60.13 65.52 74.23 82.31 92.30 102.19 113.76 125.86 138.82 152.25 165.84 179.17 192.04 204.12 93 69 7.01 12.38 18.50 26.20 30.52 33.82 37.10 40.45 44.21 48.30 53.25 59.38 64.52 71.40 81.57 90.75 101.72 113.38 125.86 138.82 152.25 165.84 179.17 192.04 204.12 214.85 94

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![LOGO](g95392dsp132.jpg)

2015 VBT MALE SMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 7.65 13.48 20.08 28.80 33.45 36.81 40.24 44.09 48.23 52.80 58.62 63.80 69.17 78.44 89.93 100.30 113.03 125.86 138.82 152.25 165.84 179.17 192.04 204.12 214.85 226.52 95 71 8.38 14.70 21.83 31.58 36.42 40.00 43.96 48.13 52.71 57.87 63.26 68.62 75.51 86.37 98.91 112.06 125.64 138.82 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 96 72 9.21 16.04 23.70 34.39 39.35 43.42 47.84 52.05 57.04 62.42 68.04 74.45 83.41 94.74 110.30 124.77 138.64 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 97 73 10.14 17.46 25.64 37.18 42.70 47.15 51.28 55.76 60.80 66.93 73.97 81.06 91.42 107.32 123.27 137.54 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 98 74 11.14 18.93 27.63 39.96 46.12 50.53 53.74 58.44 65.17 72.96 80.81 89.87 104.73 121.84 136.13 151.70 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 99 75 12.20 20.44 29.68 42.76 48.69 52.99 56.33 62.51 71.27 79.92 89.52 103.57 120.03 134.43 150.99 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 100 76 13.32 22.01 31.84 45.62 51.36 55.87 60.79 69.33 78.34 88.46 102.11 117.60 132.21 150.00 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 101 77 14.50 23.67 34.14 48.61 54.71 59.81 66.90 76.23 86.70 100.05 114.78 129.21 147.91 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 102 78 15.78 25.45 36.64 51.76 59.13 64.63 73.60 84.34 97.37 111.53 125.78 144.95 164.97 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 103 79 17.17 27.40 39.38 55.33 64.20 70.44 81.40 94.16 107.75 121.80 141.24 163.59 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 104 80 18.73 29.55 42.55 59.35 69.03 77.87 90.43 103.54 117.13 136.44 160.96 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 105 81 20.48 32.08 46.20 63.61 74.23 85.77 98.91 111.91 130.60 156.75 178.32 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 106 82 22.54 35.01 50.18 68.07 79.78 92.78 106.13 123.81 151.15 176.62 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 107 83 24.96 38.27 54.46 72.72 85.57 99.12 116.05 144.14 174.09 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 108 84 27.69 41.84 59.03 77.45 91.10 107.34 135.72 168.88 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 109 85 30.74 45.74 63.82 82.09 97.47 125.90 161.00 189.83 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 110 86 34.14 49.95 68.65 86.43 114.67 150.42 185.46 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 111 87 37.88 54.34 73.36 96.63 137.11 178.97 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 112 88 41.90 59.26 77.85 115.37 159.56 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 113 89 46.11 64.79 86.43 138.24 191.25 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 114 90 51.16 72.96 119.89 178.71 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 115 91 58.87 95.41 177.41 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 116 92 70.75 132.60 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 117 93 87.36 161.79 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 108.95 199.78 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 137.03 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

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**Exhibit D** 

**Company's Retention Limits** 

**Company's Retention Limits:** 

The Company will retain 33% of each policy, not to exceed the Company's Retention Limits stated below.

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $6000000 |

---

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**Exhibit E** 

**Automatic Acceptance Limits** 

**1. Automatic Binding Limit (to the pool):** 

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18—75 | $20000000 |

---

The pool maximum automatic binding amounts above exclude the Company's Retention.

**2. Jumbo Limit:** 

The Company will not cede any risk automatically if the total amount in force and applied for on the life with all insurance companies, including any amount to be replaced, exceeds the applicable amounts shown below.

$35,000,000

**3. Conditional Receipt or Temporary Insurance Agreement Liability:** 

The amount of coverage provided by the Reinsurer will be limited to its share of the following amounts per life provided by the Company's Conditional Receipt (or Interim Receipt) or Temporary Insurance Agreement.

---

| |
|:---|
| Maximum Amount |
| $3000000 |

---

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**Exhibit F** 

**Reinsurance Reports** 

The Company acknowledges that timely and correct compliance with the reporting requirements of this Agreement are a material element of the Company's responsibilities hereunder and an important basis of the Reinsurer's ability to reinsure the risks hereunder. Consistent and material non-compliance with reporting requirements, including extended delays, will constitute a material breach of the terms of this Agreement.

**Remittance:** The Company will self-administer reinsurance transactions. Reinsurance premiums are payable as specified in the Premium Mode provision in the applicable Exhibit. During each accounting period, as defined below, the Company will report to the Reinsurer all first year and renewal premiums which became due during the previous accounting period. Reporting of business transactions should begin within 90 days of the latter of the effective date or the execution date of the Agreement, including policies with zero first year premium. Any adjustments made necessary by changes in reinsurance effective during a previous accounting period will also be reported.

The Company will take credit, without interest, for any unearned premiums arising due to reductions, cancellations or death claims. The unearned premiums refunded will be net of allowances and policy fees.

The Company will pay the balance of premiums in arrears due under a reinstated Reinsured Policy.

If a net balance is due to the Reinsurer, the Company will forward a remittance in settlement with its report. If the net balance is due to the Company, the Reinsurer will forward a remittance in settlement within 30 days of receipt of the report.

**Report Requirements:** 

The Company will send to the Reinsurer the following TAI reports electronically, by the times indicated below:

---

| | |
|:---|:---|
| **Report** | **Accounting Period** |
| 1. Transaction Report: | Monthly 25<sup>th</sup> day after month end |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) New Business | 25<sup>th</sup> day after month end |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Renewal Business |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Changes & Terminations |  |
| 2. Inforce Report | Monthly |
| 3. Policy Exhibit | Monthly 25<sup>th</sup> day after month end |

---

------

**Minimum Data Requirements for Electronic Administration:** 

Policy record details for new business, renewal business and changes and terminations (Reports #1, 2 and 3 in Report Requirements, above) may be reported as separate reports or combined into one report, hereinafter referred to as the Billings and Transactions Report. Nonetheless, the data elements specified below for the Billings and Transactions Report must be provided for each reported record.

**Billings and Transactions Report:** 

---

| | |
|:---|:---|
| **General** |  |
| 1. Reporting Period Dates | Specifies the beginning and ending date of the reporting period represented on the statement file. |
| **Insured Data** |  |
| 2. Last Name | Represents the surname or family name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components |
| 3. First Name | Represents the given name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components. |
| 4. Middle Name or Middle Initial (if available) | Represents the middle name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components. |
| 5. Date of Birth | Specifies the date on which the insured was born;<br> this field must be provided on each insured on a joint policy. |
| 6. Sex | Indicates the gender of the insured; this field must be provided on each insured on a joint policy. |
| 7. Tobacco Use Code | Indicates whether the insured is a smoker or user of tobacco products. |
| 8. Rating | Indicates whether the insured is standard, substandard, or uninsurable. |
| 9. Residence | State, province, or other geographical code that indicates where the insured resides. |
| 10. Insured Sequence Number | Specifies the number assigned by the ceding company to delineate one insured from another on a policy with multiple insureds. |
| **Coverage Data** |  |
| 11. Currency | Indicates the currency to be applied in calculating monetary amounts, if currency within this treaty is a variable on a by policy basis. |
| 12. Reinsurance Method | Indicates whether the policy is being ceded on an automatic or facultative basis. |
| 13. Policy Number | Specifies the number assigned by the ceding company to the policy record. |
| 14. Coverage Sequence Number | Specifies the number assigned by the ceding company to delineate one coverage or benefit from another on a policy with multiple coverages or benefits. |

---

------

---

| | |
|:---|:---|
| 15. Issue Date | The date the policy or benefit was issued. |
| 16. Reinsurance Effective Date (if different than issue date) | Specifies the date upon which the reinsurance coverage goes into effect, if it goes into effect on a date other than the issue date. Can also be used to specify the original Policy Issue Date on a contractual policy conversion. |
| 17. Plan Code | Specifies the plan of insurance being provided to the insured; there must be a separate plan code for each coverage. |
| 18. Joint Life Indicator | Indicates that the coverage is a joint coverage and that multiple lives are involved with the coverage. |
| 19. Smoker Code | Indicates that the coverage has been issued at either non-smoker or smoker rates. |
| 20. Preferred Risk Class | Indicates the level of classification between the preferred and standard categories; there may be more than one level of the preferred classification available, and this will indicate the specific level for this policy. |
| 21. Mortality Rating | Specifies the exact rating assigned to the policy; premium rates will be based on this rating; this rating is generally expressed as a percentage. |
| 22. Flat Extra Rate | Specifies a flat rate per thousand to be charged on the policy. |
| 23. Flat Extra Duration | Specifies the number of years that the flat extra rating will be charged. |
| 24. Direct Face Amount | Specifies the face amount of the benefit issued to the insured before the purchase of any reinsurance. |
| 25. Reinsured Face Amount | Specifies the face amount of the reinsurance purchased. |
| 26. Reinsured Amount at Risk | Specifies the net amount at risk for the current year's reinsurance benefits. |
| 27. Death Benefit Option | Specifies the option used to calculate the policy net amount at risk on Universal Life products, only. |
| 28. Coverage Maturity or Expiry Date | Specifies the date on which the insurance coverage will cease, based on the type of plan issued to the insured. |
| 29. Issue Age | From date of issue, the age at which premiums will be charged when the case does not use a rated age. |
| 30. Rated Age | From the date of issue, the age at which premiums will be charged when the age is increased for substandard reasons, or when the age is an equivalent age for joint products. |
| 31. Transaction Code | Indicates the specific action that has occurred to cause a policy to appear on the billing or transaction report, such as New Business, Renewal, Lapse, Death etc. |
| 32. Transaction Effective Date | Specifies the date on which the transaction is applied to the insured's policy. |
| 33. Standard Premium | The premium to be paid for the reinsured benefit; this must be specified for each benefit provided on a policy record. |

---

------

---

| | |
|:---|:---|
| 34. Substandard Premium | In the event that a mortality rating has been assigned, this is the substandard portion of the premium to be paid for the reinsured benefit: this must be specified for each benefit provided on a policy record. |
| 35. Flat Extra Premium | The premium to be paid the reinsurer for any flat extra premiums assigned to the policy. |
| 36. Fees | Any additional fees to be charged, such as policy fees |
| 37. Standard Allowance | The allowance to be taken for the reinsured benefit: this must be specified for each benefit provided on a policy record. |
| 38. Substandard Allowance | In the event that a mortality rating has been assigned, this is the portion of the allowance to be taken for the substandard premium: this must be specified for each benefit provided on a policy record. |
| 39. Flat Extra Allowance | In the event a flat extra rating has been assigned to the policy, this is the portion of the allowance to be taken on the flat extra premium: this must be specified for each flat extra premium provided on a policy record. |
| 40. Fee Allowance | The allowance to be taken for any fees paid on the record. |

---

**Inforce List:** 

As required, a complete listing of all policy records considered to be in force under this Agreement must also be provided to the Reinsurer (Report #2 in Report Requirements, above). Each record on the Inforce List must contain data elements 1–30, as specified in the above listing of data requirements.

**Reporting System**: The system used by the Company to administer its reinsurance is: TAI

The Company will inform the Reinsurer at least one reporting period in advance of any change in the reporting format or data prior to its use in reports to the Reinsurer. The Company will provide the Reinsurer with a test file containing such a change prior to its implementation in the production of reports.

**Notification of Acceptance of Facultative Offer:** The Company will promptly advise the Reinsurer of its acceptance of the Reinsurer's underwriting decision pertaining to facultative business by sending notice to the Reinsurer on the next New Business Report, providing the full details of the facultative new business.

**Additional Information:** Upon request, the Company will promptly provide the Reinsurer with any additional information related to the Reinsured Policies and which the Reinsurer requires in order to complete its financial statements.

## Ex-99.(G)(Xxvi)

**Reinsurance Agreement 18408-00-00** 

**This Automatic Self Administered YRT Reinsurance Agreement** 

Effective **January 1, 2025**

(hereinafter referred to as the "Agreement")

is made between

**Thrivent Financial for Lutherans** 

(hereinafter referred to as the "Company")

and

**RGA Reinsurance Company** 

(hereinafter referred to as the "Reinsurer")

------

**Table of Contents** 

---

| | | |
|:---|:---|:---|
|  **Article 1** | **Article 1** | **4** |
| 1.1 | General | 4 |
| 1.2 | Scope of Coverage | 4 |
|  **Article 2** | **Article 2** | **5** |
| 2.1 | Automatic Reinsurance | 5 |
| 2.2 | Facultative Reinsurance | 6 |
|  **Article 3** | **Article 3** | **7** |
| 3.1 | Automatic Submissions | 7 |
| 3.2 | Facultative Submissions | 7 |
|  **Article 4** | **Article 4** | **8** |
| 4.1 | Commencement of Automatic Reinsurance Liability | 8 |
| 4.2 | Commencement of Facultative Reinsurance Liability | 8 |
| 4.3 | Conditional Receipt or Temporary Insurance Agreement Liability | 8 |
|  **Article 5** | **Article 5** | **9** |
| 5.1 | Premium Accounting | 9 |
| 5.2 | Currency | 9 |
| 5.3 | Non-Payment of Premiums | 9 |
|  **Article 6** | **Article 6** | **10** |
| 6.1 | Right of Offset | 10 |
|  **Article 7** | **Article 7** | **11** |
| 7.1 | Conversions | 11 |
| 7.2 | Policy Changes | 11 |
| 7.3 | Reductions | 12 |
| 7.4 | Lapses | 13 |
| 7.5 | Reinstatements | 13 |
| 7.6 | Reinsurance Limits | 14 |
|  **Article 8** | **Article 8** | **15** |
| 8.1 | Retention Limit Change | 15 |
| 8.2 | Rate Increases | 15 |
| 8.3 | Recapture | 16 |
|  **Article 9** | **Article 9** | **18** |
| 9.1 | Claims Notice and Consultation | 18 |
| 9.2 | Claim Proofs | 18 |
| 9.3 | Claims Payment | 19 |
| 9.4 | Claims Practices | 19 |
| 9.5 | Contested Claims | 20 |
| 9.6 | Claims Expenses | 20 |
| 9.7 | Extra Contractual Obligations | 20 |
| 9.8 | Misstatement of Age or Sex | 21 |

---

18408-00-00 2

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---

| | | |
|:---|:---|:---|
|  **Article 10** | **Article 10** | **22** |
| 10.1 | Errors and Omissions in Administration of Reinsurance | 22 |
| 10.2 | Dispute Resolution | 22 |
| 10.3 | Arbitration | 23 |
|  **Article 11** | **Article 11** | **26** |
| 11.1 | Insolvency | 26 |
|  **Article 12** | **Article 12** | **28** |
| 12.1 | Premium Tax | 28 |
|  **Article 13** | **Article 13** | **29** |
| 13.1 | Entire Agreement | 29 |
| 13.2 | Inspection of Records | 29 |
| 13.3 | Utmost Good Faith | 30 |
| 13.4 | Confidentiality | 30 |
| 13.5 | Security | 33 |
| 13.6 | OFAC Compliance | 35 |
| 13.7 | Foreign Account Tax Compliance Act (FATCA) | 35 |
|  **Article 14** | **Article 14** | **36** |
| 14.1 | Representations and Warranties | 36 |
|  **Article 15** | **Article 15** | **37** |
| 15.1 | Material Changes | 37 |
|  **Article 16** | **Article 16** | **38** |
| 16.1 | Duration of Agreement | 38 |
| 16.2 | Severability | 38 |
| 16.3 | Construction | 38 |
| 16.4 | Credit for Reinsurance | 39 |
| 16.5 | Non-Waiver | 40 |
| 16.6 | Retrocession | 40 |
| 16.7 | Governing Law | 40 |
| 16.8 | Interest | 40 |
| 16.9 | Advertising/Publicity | 40 |
| 16.10 | Counterparts | 41 |
|  **Execution** | **Execution** | **42** |
|  **Exhibits** | **Exhibits** | **43** |
|  A | Business Covered | 43 |
|  A-1 | Business Guidelines | 45 |
|  A-2 | Facultative Submissions | 46 |
|  B | Reinsurance Application | 47 |
|  C | General Terms | 48 |
|  C-1 | Rates and Terms for Specific Plans | 49 |
|  D | Company's Retention Limits | 69 |
|  E | Automatic Acceptance Limits | 70 |
|  F | Reinsurance Reports | 71 |

---

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**Article 1** 

1.1 **General** 

This Agreement is an indemnity reinsurance agreement solely between the Company and the Reinsurer. The acceptance of risks under this Agreement by the Reinsurer will create no right or legal relation between the Reinsurer and the insured, owner, beneficiary, or assignee of any insurance policy of the Company.

This Agreement will be binding upon the parties hereto and their respective successors and assigns including any rehabilitator, conservator, liquidator or statutory successor of either party. Neither party may effect any novation of this Agreement without the other party's prior written consent.

Day or days, when used in this Agreement, will mean calendar days.

1.2 **Scope of Coverage** 

This Agreement applies to all directly issued insurance policies and supplemental benefits and riders listed in Exhibit A (hereinafter referred to as "policies" or "policy") and issued in a jurisdiction in which the Company is properly licensed. On and after the Effective Date of this Agreement, the Company will cede and the Reinsurer will accept its share of the benefits specified in Exhibit A in accordance with the terms of this Agreement. The policies accepted by the Reinsurer will be hereinafter referred to as "Reinsured Policies."

The Company may not reinsure the retained amounts specified in Exhibit D on any basis without the Reinsurer's prior written consent.

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**Article 2** 

2.1 **Automatic Reinsurance** 

The Company will automatically cede and the Reinsurer will automatically accept its share of the Company's policies provided that, to the best of the Company's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The Company has retained on each life the amount set out in Exhibit D according to the age and mortality rating
at the time of underwriting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The total of the new ultimate face amount of reinsurance requested and the amount already reinsured on that
life under this Agreement and all other life agreements between the Reinsurer and the Company, does not exceed the Automatic Binding Limit set out in Exhibit E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The total new ultimate face amount of insurance on that life in force and applied for with all companies,
including the Company, and any amounts to be replaced, does not exceed the Jumbo Limit set out in Exhibit E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The application is on a life for which the current or any previous application had not been submitted by the
Company on a facultative basis to the Reinsurer or any other reinsurer within the last three (3) years, unless the reason for the previous facultative submission was for exceeding the Automatic Binding Limit or exceeding the Jumbo Limit and no
longer applies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) The policy is not purchased as part of a premium financing program or third-party investment program, unless
such programs have been approved in writing by the Reinsurer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) The Company applies its underwriting guidelines that are in effect at time of policy issuance. In the absence
of underwriting guidelines on any particular topic or condition or if the underwriting guidelines dictate that individual consideration is required, including but not limited to referrals to a medical doctor, the Company will make underwriting
decisions in good faith utilizing the care, skill and diligence with which a reasonably prudent underwriter would use in the same or similar circumstances.

For purposes of this Agreement, "ultimate face amount", as referenced in b) and c) above, will mean, to the best of the Company's knowledge, the projected maximum face amount at the time of underwriting, including any contractual increases, that could be reached based on reasonable assumptions made about the policy.

If the Company is already on the risk for its retention under previously issued policies, the Reinsurer will automatically accept reinsurance for newly issued policies according to the limits set out in Exhibit E, provided the Company has complied with the business guidelines specified in Exhibit A-1 (hereinafter the "Business Guidelines") that would have applied if the new policy had been fully retained by the Company.

Automatic reinsurance will be on a YRT basis using the YRT Rates for Full Underwriting or Accelerated Underwriting specified in Exhibit C-1.

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2.2 **Facultative Reinsurance** 

Policies that do not qualify for automatic reinsurance hereunder may be submitted to the Reinsurer on a facultative basis. Additionally, policies that qualify for automatic reinsurance may be submitted to the Reinsurer for facultative consideration. If a policy that qualifies for automatic reinsurance is submitted to the Reinsurer or other reinsurers for facultative consideration, the policy will be treated as if proposed on a facultative basis.

Facultative reinsurance will be on a YRT basis using the YRT Rates for Full Underwriting specified in Exhibit C-1.

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**Article 3** 

3.1 **Automatic Submissions** 

The Company will report Reinsured Policies ceded automatically to the Reinsurer according to the terms specified in Exhibit F.

Upon request, the Company will provide the Reinsurer copies of the application, underwriting papers and other information pertaining to any automatic cession under this Agreement.

3.2 **Facultative Submissions** 

Applications for reinsurance on a facultative basis will be made in accordance with Exhibit A-2. Unless the Reinsurer provides written consent to an extension, the Company will have the number of days specified in Exhibit A-2 from the date of the Reinsurer's final offer in which to place the policy with the insured/owner, after which the Reinsurer's offer will expire without further notice or obligation.

The terms of this Agreement will apply to each accepted facultative offer, unless the offer specifies different terms.

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**Article 4** 

4.1 **Commencement of Automatic Reinsurance Liability** 

The Reinsurer's liability for any Reinsured Policy accepted automatically will begin simultaneously with the Company's contractual liability for that policy.

4.2 **Commencement of Facultative Reinsurance Liability** 

The Reinsurer's liability for facultative reinsurance will begin simultaneously with the Company's contractual liability if the Company has accepted, during the lifetime of the insured, the Reinsurer's offer of coverage. However, the Reinsurer will be bound to facultative policies that are placed with the Reinsurer by the Company in accordance with the Company's reasonably documented facultative acceptance procedures and the terms of this Agreement

The Reinsurer will have no liability for any application submitted for facultative consideration if the Reinsurer declined facultative coverage or made an offer of coverage that was not accepted by the Company as required by the terms of this Agreement.

4.3 **Conditional Receipt or Temporary Insurance Agreement Liability** 

Automatic reinsurance coverage provided by the Reinsurer for the Company's conditional receipt or temporary insurance agreement will begin simultaneously with the Company's contractual liability and is limited to the Reinsurer's share, as shown in Exhibit A, of amounts accepted within the Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit E.

For facultative applications submitted to the Reinsurer, the Reinsurer's liability under a conditional receipt or a temporary insurance agreement will begin simultaneously with the Company's contractual liability if the Reinsurer has received notice from the Company that the Reinsurer's facultative offer has been accepted. The Reinsurer's liability is limited to its share, as shown in Exhibit A, of amounts accepted within the Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit E.

If the proposed insured dies prior to the completion of the underwriting process, the Reinsurer will continue underwriting the risk to determine if a facultative offer would have been made on the risk. If so, the Reinsurer will accept liability for the risk, subject to the limits specified in the paragraph above.

After a policy has been issued, no reinsurance benefits are payable under this pre-issue coverage provision.

18408-00-00 8

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**Article 5** 

5.1 **Premium Accounting** 

The Company will pay the Reinsurer premiums in accordance with the terms specified in Exhibit C-1.

The method and requirements for reporting and remitting premiums are specified in Exhibit F.

5.2 **Currency** 

All payments due under this Agreement will be made in U.S. Dollars.

5.3 **Non-Payment of Premiums** 

The payment of reinsurance premiums is a condition to the liability of the Reinsurer for reinsurance provided by this Agreement. In the event that undisputed reinsurance premiums are not paid within sixty (60) days of the due date, the Reinsurer may terminate reinsurance for all Reinsured Policies having reinsurance premiums in arrears. If the Reinsurer elects to terminate any Reinsured Policies after such sixty (60)-day period, it will then give the Company at least ninety (90)-days' prior written notice of its intention to terminate such reinsurance. If all reinsurance premiums in arrears, including any which may become in arrears during such ninety (90)-day notice period, are not paid before the end of the notice period, the Reinsurer's obligations for those Reinsured Policies will be limited to obligations relating to events arising on or before the last date for which reinsurance premiums have been paid in full for each Reinsured Policy.

If reinsurance is terminated according to this Article, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

Terminated reinsurance may be reinstated, subject to approval by the Reinsurer, within thirty (30) days of the date of termination, and upon payment of all reinsurance premiums in arrears including any interest accrued thereon. The Reinsurer will have no liability for any claims incurred between the date of termination and the date of the reinstatement of the reinsurance. The Reinsurer's right to terminate reinsurance will not prejudice its right to collect premiums, and applicable interest as specified in Exhibit C, for the period reinsurance was in force, through and including the ninety (90)-day notice period.

The Company may not force termination through the non-payment of reinsurance premiums to avoid the Agreement's requirements or to transfer the reinsured policies to another party.

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**Article 6** 

6.1 **Right of Offset** 

Any undisputed amounts due, by either of the parties to this Agreement, whether they arise out of this Agreement or out of any other reinsurance relationship between the parties, may be offset and only the balance will be allowed or paid. This right will continue to exist after the termination of this Agreement, or of any business relationship between the parties. This right to offset is not diminished by the insolvency of either party.

18408-00-00 10

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**Article 7** 

7.1 **Conversions** 

Subject to the provisions of this Section 7.1, Company shall retain all the risk resulting from the contractual term conversion of any coverage reinsured under this Agreement (other than contractual term conversions of facultative policies), with such converted policies being referred to herein as "Conversion Policies." For the avoidance of doubt, (i)

Company shall cede all the risk resulting from the contractual term conversion of facultative policies to the Reinsurer for the term of this Agreement, without the option to submit Elections (as defined below); and (ii) Conversion Policies shall be considered Reinsured Policies for the purposes of this Agreement.

The Company may request to cede Conversion Policies by providing the Reinsurer a written request and the appropriate documentation to allow the Reinsurer to review and determine if the current reinsurance rates are appropriate. The Reinsurer will notify the Company within sixty (60) days of receiving the appropriate documentation, if it accepts the request and whether reinsurance rates will be adjusted. If the Reinsurer accepts the request, but adjusts reinsurance rates, the Company shall have an additional sixty (60) days to accept or reject such adjusted rates. For the avoidance of doubt, if the Company rejects the Reinsurer's adjusted rates, the Company shall continue retaining all the risk resulting from the contractual term conversions of Conversion Policies.

If Conversion Policies are ceded to the Reinsurer, the change will be effective on the date agreed by the parties and shall not apply retroactively to any Conversion Policies converted prior to the agreed effective date.

Whether Conversion Policies are ceded to the Reinsurer or retained by the Company under this article 7.1, all eligible Conversion Policies must be ceded or retained.

If a Reinsured Policy is converted according to the policy's terms and the applicable provisions of the Business Guidelines, the Company will notify the Reinsurer as specified in Exhibit F. The amount to be reinsured for the Conversion Policy will be determined on the same basis as used for the original Reinsured Policy (excess of retention or quota share) but can never exceed the amount reinsured on the original Reinsured Policy as of the date of conversion unless mutually agreed otherwise. Riders and benefits not attached to the original policy and reinsured hereunder that are added at the time of conversion will not be reinsured under this Agreement without prior approval of the Reinsurer.

Reinsurance of Conversion Policies will be on a YRT basis using the YRT Rates for Conversions specified in the applicable Exhibit C-1.

7.2 **Policy Changes** 

"Policy changes" refers to the variety of actions that may be made to a policy after issue. These actions include, but are not limited to, replacements, exchanges, changes in plans, a change in the face amount of the policy or the addition of a covered rider. If there is a change affecting the reinsurance on a Reinsured Policy, the Company will inform the Reinsurer in the subsequent Transaction Report specified in Exhibit F.

18408-00-00 11

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Except as provided in this Article, whenever a Reinsured Policy is changed and the Company's underwriting guidelines do not require that full evidence of insurability be obtained, the terms of this Agreement will apply to the changed Reinsured Policy using point in scale rates, whether the change is made before or after any cancellation of this Agreement for new business. The suicide and contestability periods applicable to the original Reinsured Policy will apply to the reissued Reinsured Policy and the duration for premium payment will be measured from the effective date of the original Reinsured Policy.

Whenever a Reinsured Policy is changed and the Company's underwriting guidelines require that full evidence of insurability be obtained and the suicide and contestability periods will be based on the reissued policy date, unless otherwise required by applicable law, the terms of this Agreement will apply to the changed Reinsured Policy if the change is made before cancellation of this Agreement for new business. Such Reinsured Policy changes taking place after the Agreement is cancelled for new business will not be reinsured without the Reinsurer's prior written consent. Unless otherwise agreed, first year premium rates and allowances as specified in Exhibit C-1 will apply to the amount underwritten as well as for a non-contractual increase.

Policy changes to Reinsured Policies will be subject to the Reinsurer's prior written approval, if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The new ultimate face amount of the policy, including any contractual increases, would be in excess of the
Automatic Binding Limit in effect at the time of the change, as set out in Exhibit E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The new ultimate face amount of the policy, including any contractual increases, and the amount already in
force in all companies on the same life exceeds the Jumbo Limit stated in Exhibit E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The policy was reinsured on a facultative basis, unless the policy change is only a reduction in death benefit
amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Evidence of insurability is not obtained if required in the Company's underwriting guidelines; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) If the change includes a policy with features such as, but not limited to, riders or options that are different
from the original policy.

7.3 **Reductions** 

Unless specified otherwise in this Agreement, if the amount of a Reinsured Policy issued by the Company is reduced, then the amount of reinsurance on that Reinsured Policy will be reduced effective the same date by the same proportion as the reduction under the original Reinsured Policy.

If the reinsurance for a Reinsured Policy has been placed with more than one reinsurer, the reduction will be applied to all reinsurers pro-rata to the amounts originally reinsured with each reinsurer.

18408-00-00 12

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The Company's retention shall only be calculated upon a policy's issue date. A subsequent reduction to one of the Company's policies (whether reinsured or not reinsured hereunder) will not require the Company to recalculate and/or maintain its required retention as specified in Exhibit D of this Agreement.

In the event of the reduction of a policy or policies reinsured under this Agreement, the Reinsurer will refund any unearned reinsurance premiums. The reinsured portion of any policy fee will be deemed earned for the entire policy year if the policy was reinsured during any portion of that policy year.

7.4 **Lapses** 

When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date.

If a policy issued by the Company lapses and reduced paid-up insurance is elected under the terms of that policy, the amount of the corresponding reinsurance on the Reinsured Policy will be reduced according to the terms of Article 7.3.

If the Company allows the policy to remain in force under its automatic premium loan regulations, the corresponding reinsurance on the Reinsured Policy will continue unchanged and in force as long as such regulations remain in effect, except as otherwise provided in this Agreement.

7.5 **Reinstatements** 

If a policy reinsured on an automatic basis is reinstated according to its terms and the Company's reinstatement rules, the Reinsurer will automatically reinstate the reinsurance. The Reinsurer's approval is required for the reinstatement of reinsurance on a facultative policy if the Company's regular reinstatement rules indicate that evidence of insurability, in addition to a statement of good health, is required. Any policy reinstatement exceptions deviating from established procedures and rules previously disclosed to the Reinsurer must be approved by the Reinsurer prior to ceding the reinstatement to the Reinsurer.

If the policy being considered for reinstatement is subject to new underwriting based on the Company's established procedures and rules, the policy must comply with the Automatic Binding and the Jumbo Limits at the time of reinstatement. A new suicide and contestable period shall also apply.

The Company will pay the Reinsurer all reinsurance premiums due from the lapse effective date to the date of reinstatement and such premiums will be subject to Article 16.8 and Exhibit F.

The Reinsurer will have no liability for the reinstatement or compromise of a lapsed policy under the following circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the Company failed to comply with applicable state regulations on lapse and reinstatements; or

18408-00-00 13

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. the policy was reinstated due to settlement or judgment wherein the policy was lapsed for a longer time period
than that stated in the Company's established reinstatement guidelines.

7.6 **Reinsurance Limits** 

The Company will not submit a policy to the Reinsurer unless the amount of reinsurance on the policy equals or exceeds the Reinsurance Limits ceded to the Reinsurer as specified in Exhibit C.

18408-00-00 14

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**Article 8** 

8.1 **Retention Limit Change** 

If, the Company increase its retention limit (hereinafter "Retention Limit", it will provide the Reinsurer with written notice of the new Retention Limit at least thirty (30) days prior to the effective date. Increases to the Company's Retention Limits in Exhibit D will not affect the Reinsured Policies in force at the time of such a change except as specifically provided for elsewhere in this Agreement and will not affect the Automatic Binding Limit or Jumbo Limit in Exhibit E unless mutually agreed in writing by the Company and the Reinsurer.

If the Company decreases its Retention Limit, no reinsurance may be ceded on an automatic basis until the parties have reviewed and either expressly affirmed or revised the terms specified in the applicable Exhibit and the Automatic Binding Limit set out in Exhibit E.

8.2 **Rate Increases** 

The reinsurance rates as set out in Exhibit C-1 are guaranteed for one policy year.

If the Company raises its retail premiums or cost of insurance charges on any in force business reinsured under this Agreement, it shall provide the Reinsurer with thirty (30) days prior written notice of the increase. The Reinsurer reserves the right to increase rates on such business by a corresponding amount by informing the Company of its intention to do so (i) within thirty (30) days of the Company's notice and (ii) at least sixty (60) days prior to the effective date of the increase to reinsurer rates.

The reinsurance rates as set out in Exhibit C-1 are guaranteed for one policy year. After one year following the Effective Date of this Agreement, the Reinsurer may exercise its right to increase the reinsurance premium rates. The Reinsurer will provide the Company written notice at least ninety (90) days prior to the effective date of a reinsurance premium rate increase. The rate increase will go into effect immediately following the ninety (90) day notice period or on the date specified in the notice, if later.

In no event will such increased reinsurance premium rates be higher than the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. 125% of the applicable rates in Exhibit C-1; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. for term policies during the level term period, 125% of the 2017 CSO Loaded Tables, Sex, Tobacco Distinct,
Ultimate Only, ALB mortality tables; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. for term policies during the post-level term period, 300% of the 2017 CSO Loaded Tables, Sex, Tobacco Distinct,
Ultimate Only, ALB mortality tables; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. for Conversion Policies, 225% of the 2017 CSO Loaded Tables, Sex, Tobacco Distinct, Ultimate Only, ALB
mortality tables.

The maximum reinsurance premium limits above will be increased by twenty-five (25) percent per table for table rated policies and by the amount of any applicable Flat Extra.

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8.3 **Recapture** 

The Company may recapture if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company increases its Retention Limit to reduce the amount of in force reinsurance ceded on an automatic
basis provided, however, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) No recapture is made until the Reinsured Policy has been in force through the end of the level premium period.
For a Conversion Policy, the recapture terms of the original policy will apply and the duration for the recapture period will be measured from the effective date of the original policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Recapture will be effected on the next anniversary of each Reinsured Policy eligible for recapture unless
agreed otherwise by both parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The Company gives the Reinsurer thirty (30) days written notice of its intention to recapture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The Company has maintained, from the time the policy was issued, its quota share retention as set out in
Exhibit D; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) The Company retained its maximum Retention Limit for the age and mortality rating at the time the policy was
issued. No recapture will be allowed for any policies where the Company's established special retention limits less than the Company's maximum Retention Limits for the plan, issue age, and mortality rating at the time the policy was
issued; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) No recapture will be made if the Company has either obtained or increased reinsurance coverage, including, but
not limited to, stop loss, as justification for the increase in Retention Limits.

The amount of reinsurance eligible for recapture will be the difference between the amount originally retained and the amount the Company would have retained on the same quota share basis had the new retention been in effect at the time of issue. If there is reinsurance with other reinsurers on risks eligible for recapture, the reduction will be applied pro rata to the total outstanding reinsurance. In applying its increased Retention Limit to Reinsured Policies, the age and mortality rating at the time of issue will be used to determine the amount of the Company's increased retention.

Recapture is optional, but if any reinsured business is recaptured, all business eligible must be recaptured in a consistent manner. The Company may not revoke its election to recapture for policies becoming eligible at future anniversaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Reinsurer does one of the following, regardless of the Reinsured Policies' duration in force:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Increases its reinsurance premium rates on any block of in force business under this agreement on which the
Company has not raised its retail premiums or cost of insurance charges; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Increases its reinsurance premium rates on any block of in force business by an amount greater than the
corresponding increase made by the Company to its retail premiums or cost of insurance charges.

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If the Company elects to recapture, it must notify the Reinsurer of its intention to do so before the rate increase takes effect. The recapture will be effective on the next anniversary of each Reinsured Policy eligible for recapture unless agreed otherwise by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Reinsurer is deemed insolvent and the terms and conditions of Article 11.1 are satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. A Reserve Credit Event occurs and is not cured pursuant to Article 16.4.

Upon recapture pursuant to this Article 8.3, a terminal settlement shall be made such that the parties shall settle all amounts due and payable with respect to the recaptured policies reinsured hereunder as stated below. All such settlements shall be made as of the recapture effective date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Reinsurer will refund to the Company any unearned reinsurance premiums.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Reinsurer will pay to the Company all claims eligible for coverage under the Agreement incurred and
reported to the Reinsurer prior to the recapture effective date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Company will pay the Reinsurer any due and unpaid reinsurance premium.

The parties' obligations for any recaptured business will be limited to those relating to events or circumstances arising or occurring before the recapture date. The Reinsurer will be obligated to pay to the Company all claims attributable to the recaptured amounts that were eligible for coverage under the Agreement, incurred prior to the recapture effective date and reported to the Reinsurer The Reinsurer shall have no liability with respect to claims incurred on or after the recapture effective date or claims reported to the Reinsurer after two (2) years from the recapture effective date regardless of the date on which such claims were incurred. The Company agrees to conduct appropriate Death Master File searches on its entire block of in force policies (and lapsed and surrendered policies for a period of time in accordance with the Company's compliance procedures) at least semi-annually or in compliance with state regulations, whichever is more frequent. If a cession eligible for recapture has been overlooked by the Company, the liability of the Reinsurer will be limited to the refund of the amount of premiums accepted by the Reinsurer after the date of recapture, less allowances or claims paid, if any. However, if a claim is incurred prior to the recapture effective date, but reported to the Reinsurer after this two (2) year period after the recapture effective date, the Company may consult with the Reinsurer, and the parties will work in good faith to resolve.

The Company shall not be liable for a fee to recapture reinsurance. Recapture will be effected by way of the Company not remitting applicable premiums.

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**Article 9** 

9.1 **Claims Notice and Consultation** 

The Company is responsible for the settlement of claims in accordance with applicable law and policy terms. It is the Company's sole decision to determine whether a claim is payable under the policy. The Reinsurer agrees to accept the determination of the Company based on the Company's standard claims practices and subject to the terms of this Agreement and the terms of the underlying policy. For purposes of this Article, Reinsured Policies include conditional receipts and temporary insurance agreements covered under the terms of this Agreement. It is a condition to the Reinsurer's obligation to pay a claim that the Company notify the Reinsurer in writing.

9.2 **Claim Proofs** 

The parties agree to apply the Reinsurer's Document Reduction Program (DRP) to claims which fall under the terms of this Agreement and meet the criteria described below.

The Company will provide the Reinsurer with the following documentation of the claim as specified below, if the face amount of the claim is greater than $1,000,000:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Copies of claimant statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. A copy of the death certificate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Proof of claim payments

The DRP will not apply to the following claims:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Claims where the death of the insured occurred outside of the United States, Canada, Puerto Rico, or Guam; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Claims where the face amount of the claim exceeds $1,000,000; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Claims where an accidental death payment is payable; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Claims for accelerated death benefits; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Claims where fraud is identified; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Claims in litigation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Claims where an exception to standard claims practices is made.

The Reinsurer will continue to receive all data elements currently required and received through the Company's TAI system for reinsured claims under the DRP. The data elements required for each claim will include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Insured's Name,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Policy Number,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Issue Date,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Policy Duration,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Face Amount,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Net Amount at Risk,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Post Mortem Interest to be paid on the claim (including from and to dates and interest rate used),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h) Investigation and other expenses to be paid on claim,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) Legal expenses to be paid on claim,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) Date of Birth,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k) Gender,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l) Date of Death,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m) Cause of Death (if available),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n) Location of Loss

The Reinsurer reserves the right to request additional documentation at any time from the Company for any claim. The Company agrees that it will continue to obtain the usual proof of death on all claims.

The Reinsurer has the right to audit the Company's claims paying practices and procedures on claims that fall within the DRP criteria outlined above.

**9.3** **Claims Payment** 

The Reinsurer will be liable to the Company for its share of the benefits owed under the express contractual terms of the Reinsured Policies and as specified under the terms of this Agreement. The Reinsurer will not participate in any ex-gratia payments made by the Company (i.e., payments the Company is not required to make under the Reinsured Policy terms.) The payment of death benefits by the Reinsurer will be in one lump sum regardless of the mode of settlement under the Reinsured Policy. Benefit payments from the Reinsurer will be due within thirty (30) days of the claim satisfying the requirements established under this Agreement. The Reinsurer's share of any interest payable under the terms of a Reinsured Policy or applicable law which is based on the death benefits paid by the Company, will be payable provided that the Reinsurer will not be liable for interest accruing on or after the date of the Company's payment of benefits nor for interest paid on premium refunds, policy dividends, or any other component other than the death benefit. The Reinsurer's share will be based upon the net amount at risk divided by the policy death benefit at the time of death and at the same interest rate and days used by the Company to calculate their interest paid.

The Reinsurer will make payment to the Company for each such claim.

For claims on Accelerated Benefit riders reinsured under this Agreement, the benefit amount payable by the Reinsurer will be calculated by multiplying the total accelerated death benefit rider payout by the ratio of the Reinsured Net Amount at Risk, as defined in Exhibit C-1, to the face amount of the Reinsured Policy.

9.4 **Claims Practices** 

It is the Company's sole decision to determine whether to investigate, contest, compromise or litigate a claim; however, the Company is responsible for investigating, contesting, compromising or litigating Reinsured Policy claims in accordance with applicable law and policy terms.

The Company acknowledges that it obtains certified death certificates for death claims that are over $500,000 and obtains a copy of the non-certified death certificate for death claims of $500,000 or less.

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9.5 **Contested Claims** 

The Company will notify the Reinsurer promptly of its intention to investigate, contest, compromise, or litigate any claim involving a Reinsured Policy (hereinafter a "Contested Claim"). If the Reinsurer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Does not support the contest of the Contested Claim, the Reinsurer will pay the Company its full share of the
reinsurance benefit, and will not share in any subsequent reduction or increase in liability or in any subsequent expenses incurred by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Supports the Company's decision to contest the Contested Claim and the Contested Claim results in a
reduction or increase in liability, the Reinsurer will share in any reduction or increase in proportion to its share of the risk on the Contested Claim.

If the Reinsurer supports the decision to contest the claim, the Company will promptly advise the Reinsurer of all significant developments, including notice of legal proceedings (including, but not limited to, consumer complaints or actions by governmental authorities) initiated in connection with the Contested Claim.

If the Company returns premiums to the policy owner or beneficiary as a result of rescinding a policy, or if the Company pays a suicide benefit, the Reinsurer will refund net reinsurance premiums received on that policy to the Company.

9.6 **Claims Expenses** 

The Reinsurer will pay its share of reasonable investigation and legal expenses incurred in investigating, adjudicating or litigating a claim, except as otherwise provided in Section 9.7, in proportion to its share of the risk on the claim.

The Reinsurer will not reimburse the Company for routine claim and administration expenses, including but not limited to the Company's home office expenses, compensation of salaried officers and employees, and any legal expenses other than third-party expenses incurred by the Company. Claim investigation expenses do not include expenses incurred by the Company as a result of a dispute or contest arising out of conflicting claims of entitlement to policy proceeds or benefits.

9.7 **Extra Contractual Obligations** 

For purposes of this Agreement, "Extra Contractual Obligations" are any obligations or expenses other than contractual obligations incurred by the Company, its affiliates, directors, officers, employees, agents or other representatives and arising under the express written terms and conditions of a policy, including but not limited to, punitive damages, bad faith damages, compensatory damages, and other damages or fines or penalties which may arise from the acts, errors or omissions of the Company or its affiliates, directors, officers, employees, agents or other representatives.

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In no event shall the Reinsurer be liable for any Extra-Contractual Obligations awarded against the Company as a result of any act, omission or course of conduct committed solely by the Company, its agents or representatives in connection with claims under this Agreement, nor for any legal fees or expenses incurred in the defense of such claims.

9.8 **Misstatement of Age or Sex** 

In the event of a change in the amount payable under a Reinsured Policy due to a misstatement in age or sex, the Reinsurer's liability will change proportionately. The

Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and amounts at risk for the correct ages and sex, and the proper adjustment for the difference in reinsurance premiums, without interest, will be made.

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**Article 10** 

10.1 **Errors and Omissions in Administration of Reinsurance** 

Any unintentional or accidental failure to comply with the terms of this Agreement which can be shown to be the result of an oversight or clerical error relating to the administration of reinsurance by either party will not constitute a breach of this Agreement. Upon discovery, the error will be promptly corrected so that both parties are restored to the position they would have occupied had the oversight or clerical error not occurred. In the event a payment is corrected, the party receiving the payment may charge interest, calculated according to the terms specified in Exhibit C. Should it not be possible to restore both parties to this position, the party responsible for the oversight or clerical error will be responsible for any resulting liabilities and expenses.

If the Company has failed to cede reinsurance as provided under this Agreement or has failed to comply with reporting requirements with respect to business ceded hereunder, the Reinsurer may require the Company to audit its records for similar errors and take reasonable actions necessary to correct errors and avoid similar errors.

Issues arising out of the application of the underwriting guidelines and Automatic guidelines as described in Article 2, or grossly negligent, deliberate acts are the responsibility of the Company and its liability insurer, if any, but not that of the Reinsurer. Additionally, in no instance shall this Article apply for Facultatively submitted business where the Company has i) issued a case that was postponed or declined by the Reinsurer, ii) incorrectly advised the Reinsurer to close its file, or iii) incorrectly notifies the Reinsurer of the amount of the offer accepted.

10.2 **Dispute Resolution** 

As a condition to the parties' right to arbitration under this Agreement, either the Company or the Reinsurer will give written notification to the other party of any dispute relating to or arising from this Agreement, including, but not limited to, the formation or breach thereof. Within thirty (30) days of notification, both parties must designate an officer of their respective companies to attempt to resolve the dispute. The officers will meet at a mutually agreeable location as soon as possible and as often as necessary to attempt to negotiate a resolution of the dispute. The format for discussions will be determined mutually by the officers.

If these officers are unable to resolve the dispute within thirty (30) days of their first meeting, the parties may agree in writing to extend the negotiation period for an additional thirty (30) days. If the matter is not resolved within thirty (30) days of the first meeting or the additional thirty (30) day period, if any, then either party may demand arbitration pursuant to Article 10.3. The discussions and all information exchanged for the purposes of such discussions will be confidential and without prejudice.

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10.3 **Arbitration** 

If the Company and the Reinsurer are unable to resolve any dispute arising from this Agreement, including but not limited to the formation or breach thereof, pursuant to Article 10.2, the matter will be referred to arbitration.

The arbitration will be held in Minneapolis, Minnesota, or another place as the parties may mutually agree, and the Governing Law specified in Article 16.7 shall govern the arbitration panel's interpretation and application of this Agreement.

Unless the parties agree otherwise, all disputes shall be submitted to an arbitration panel composed of two arbitrators and an umpire chosen in accordance with the procedures set forth below.

The members of the arbitration panel shall be disinterested persons who are (a) current or former officers of life insurance or reinsurance companies, other than the parties to this Agreement, their affiliates or subsidiaries, or (b) professionals with no less than ten (10) years of experience in or serving the life insurance or reinsurance industries; provided, however, the experience in the life insurance or reinsurance industries was not as an employee of the parties to this Agreement, their affiliates or subsidiaries.

The party requesting arbitration (hereinafter referred to as the "claimant") shall appoint an arbitrator and give written notice thereof by certified mail or by a courier service producing evidence of receipt by the receiving party, to the other party (hereinafter referred to as the "respondent") together with its notice of intention to arbitrate. Within thirty (30) days after receiving such notice, the respondent shall also appoint an arbitrator and notify the claimant thereof by certified mail or by a courier service producing evidence of receipt by the receiving party. If the respondent fails to appoint an arbitrator within thirty (30) days after receiving a notice of intention to arbitrate, the claimant's arbitrator shall appoint an arbitrator on behalf of the respondent.

Before instituting a hearing, the two arbitrators so appointed shall choose an umpire. If, within twenty (20) days after the appointment of the arbitrator chosen by the respondent, the two arbitrators fail to agree upon the appointment of an umpire, the parties agree to refer the matter to Judicial Arbitration and Mediation Services ("JAMS") for the appointment of the umpire. In the event the matter is referred to JAMS, as respects the umpire, the parties agree to waive the requirement that the umpire candidates be (a) current or former officers of life insurance or reinsurance companies, other than the parties to this Agreement, their affiliates or subsidiaries, or (b) professionals with no less than ten (10) years of experience in or serving the life insurance or reinsurance industries, and agree to the appointment of a retired state or federal judge as the umpire.

JAMS shall send the parties a list of umpire candidates comprised of at least five (5) retired state or federal judges. JAMS shall also provide each party with a brief description of the background and experience of each umpire candidate.

Within seven (7) calendar days of service upon the parties of the list of names, each party may strike two (2) names and shall rank the remaining umpire candidates in order of preference. The remaining umpire candidate with the highest composite ranking shall be appointed the umpire.

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Any disclosures regarding the selected umpire shall be made as required by law or within ten (10) calendar days from the date of appointment. Such disclosures may be provided in electronic format, provided that JAMS will produce a hard copy to any party that requests it. The parties and their representatives shall disclose to JAMS any circumstance likely to give rise to justifiable doubt as to the umpire's impartiality or independence, including any bias or any financial or personal interest in the result of the Arbitration or any past or present relationship with the parties or their representatives. The obligation of the umpire, the Parties and their representatives to make all required disclosures continues throughout the Arbitration process.

Within thirty (30) days after the notice of appointment of all arbitrators, the panel shall schedule an organizational meeting, and determine a timely period for discovery, discovery procedures and schedules for hearings. The panel shall have the power to fix all procedural rules relating to the arbitration proceeding.

The customs and practices of the life insurance and reinsurance industries may be considered by the Panel if the Agreement does not address an issue raised by the parties or the Panel finds the Agreement to be ambiguous, but only insofar as such customs and practices are consistent with the terms of this Agreement, and only then if it is permitted by the applicable law that the panel is bound to follow.

The Panel will award the remedy sought by the party seeking relief to the extent the remedy is provided for in this Agreement or otherwise reasonably compensates the damaged party for the economic effect of any demonstrated breach. Such remedies may include, but will not be limited to, monetary damages, revisions to the terms of the Agreement, including adjustments to premiums or allowances paid or to be paid, or any combination of the foregoing. In no event shall the Panel have the authority to award punitive or exemplary damages.

The Panel shall issue an order, appropriate for confirmation in a court of competent jurisdiction, to resolve all matters in dispute. In addition, the Panel shall issue a written opinion setting forth the reasons for the award, with citations to the record of the hearing that support the reasoning.

The decision of the Panel will be final and binding upon the parties and their respective successors and assigns. Each party hereby consents to the entry of a judgment confirming or enforcing the award in the United States District Court for the District of Minnesota and/or in any other court of competent jurisdiction.

Within twenty (20) days after the transmittal of an award, either party, upon notice to the other party, may request the Panel to correct any clerical, typographical, or computational errors in the award. The other party will be given ten days to respond to the request. The Panel will dispose of the request within twenty (20) days of its receipt of such request and any response thereto. The Panel will not be empowered to re-determine the merits of any claim already decided.

Each party will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Bear its own fees and expenses in connection with the arbitration, including the fees of any outside counsel,
its party appointed arbitrator and witness fees, and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Share equally in the fees of the umpire, the fees or charges, if any, related to the appointment of the umpire
by JAMS, and the costs of the arbitration, such as hearing rooms, court reporters, etc.

It is the intent of the parties that these arbitration provisions replace and be in lieu of any statutory arbitration provision, if permitted by law.

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**Article 11** 

11.1 **Insolvency** 

A party to this Agreement will be deemed "insolvent" when it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory
successor (hereinafter referred to as the "Authorized Representative") **  of its properties or assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Is adjudicated as bankrupt or insolvent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Files or consents to the filing of a petition in bankruptcy, seeks reorganization or an arrangement with
creditors or takes advantage of any bankruptcy, dissolution, liquidation, rehabilitation, conservation or similar law or statute; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Becomes the subject of an order to rehabilitate or an order to liquidate as defined by the insurance code of
the jurisdiction of the party's domicile.

In the event of the insolvency of the Company, all reinsurance ceded, renewed or otherwise becoming effective under this Agreement will be payable by the Reinsurer directly to the Company or to its Authorized Representative on the basis of the liability of the Company for benefits under the Reinsured Policies without diminution because of the insolvency of the Company.

The Reinsurer will be liable only for benefits reinsured as benefits become due under the terms of the Reinsured Policies and will not be or become liable for any amounts or reserves to be held by the Company as to the Reinsured Policies or for any damages or payments resulting from the termination or restructure of the Policies that are not otherwise expressly covered by this Agreement. The Company or its Authorized Representative will give written notice to the Reinsurer of all pending claims against the Company on any Reinsured Policies within a reasonable time after filing in the insolvency proceedings. While a claim is pending, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceedings where the claim is to be adjudicated, any defense or defenses which it may deem available to the Company or its Authorized Representative.

The expense incurred by the Reinsurer will be chargeable, subject to court approval, against the Company as part of the expense of its insolvency proceedings to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer. Where two or more reinsurers are involved in the same claim and a majority in interest elect to interpose a defense to such claim, the expense will be apportioned in accordance with the terms of the Agreement as though such expense had been incurred by the Company.

In the event of the insolvency of the Reinsurer, the Company may cancel this Agreement for new business by promptly providing the Reinsurer or its Authorized Representative with written notice of cancellation, to be effective as of the date on which the Reinsurer's insolvency is established by the authority responsible for such determination. Any requirement for a notification period prior to the cancellation of the Agreement would not apply under such circumstances.

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In addition, in the event of the insolvency of the Reinsurer, the Company may provide the Reinsurer or its Authorized Representative with written notice of its intent to recapture all reinsurance in force under this Agreement regardless of the duration the reinsurance has been in force or the amount retained by the Company on the Reinsured Policies but only if the undisputed amounts due from the Reinsurer to the Company have gone unpaid for more than ninety (90) days (the "payment delinquency period"). The Company agrees to immediately notify RGA US Mortality Claims Management via email (USMMClaimsManagement@RGARe.com) of any undisputed claim that remains pending for sixty (60) days. The Company must make the recapture election within ninety (90) days of the Reinsurer's insolvency, or the end of the payment delinquency period, if later. Recapture must be effective no earlier than the date of Reinsurer's insolvency and no later than the reinsurance premium due date immediately following the notice of intent to recapture. The recapture is further subject to the terms of Article 8.3.

In the event of the insolvency of either party, the rights or remedies of this Agreement will remain in full force and effect.

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**Article 12** 

12.1 **Premium Tax** 

The Reinsurer will not reimburse the Company for premium taxes.

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**Article 13** 

13.1 **Entire Agreement** 

This Agreement and the Exhibits hereto constitute the entire agreement between the parties with respect to the business reinsured hereunder and supersede any and all prior representations, warranties, agreements or understandings between the parties pertaining to the subject matter of this Agreement. There are no understandings between the parties other than as expressed in this Agreement and the Exhibits hereto. In the event of any express conflict between the Agreement and the Exhibits hereto, the Exhibits hereto will control.

Any change or modification to this Agreement and the Exhibits hereto will be null and void unless made by written amendment and signed by both parties.

13.2 **Inspection of Records** 

The Reinsurer or its duly appointed representatives will have access to records of the Company, whether written or electronic, concerning the business reinsured hereunder for the purpose of inspecting, auditing and photocopying those records. The Reinsurer's inspection, audit or photocopying of records will be limited to records related to the business reinsured under this Agreement, including but not limited to, underwriting, claims and administration and will not apply: (1) to records related to the reinsurance bidding process for this Agreement; (2) to privileged information; or (3) during the pendency of any related arbitration.

Company or its duly appointed representatives will have access to records of the Reinsurer, whether written or electronic, concerning the business reinsured hereunder for the purpose of inspecting, auditing and photocopying those records. The Company's inspection or auditing of records will be limited to records related to the administration of this Agreement and will not apply: (1) to records related to facultative cessions for which no offer was made by the Reinsurer or accepted by the Company; (2) to privileged information; (3) during the pendency of any related arbitration; (4) records related to the reinsurance bidding process for this Agreement; (5) to financial and other records related to the Agreement's performance; or (6) to analysis related to the Company's business procedures and practices.

Such access will be provided at the office of the party being inspected and will be during reasonable business hours. Subject to the limitations set forth above, assuming the party inspecting records has continued to perform its undisputed portion of its obligations under this Agreement, the party being inspected may not withhold access to information and records on the grounds that the inspecting party is in breach.

The Reinsurer's right of access as specified above will survive three (3) years after all of the Reinsurer's obligations under this Agreement have terminated or been fully discharged.

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13.3 **Utmost Good Faith** 

All matters with respect to this Agreement require the utmost good faith of each of the parties.

13.4 **Confidentiality** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As used herein, "Company trade secret information" means any information or compilation of
information possessed by the Company, its affiliates or subsidiaries, which derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can
obtain economic value from its disclosure or use. Without limiting the generality of the foregoing, "Company trade secret information" includes but is not limited to: (i) all information concerning member, client and prospect
programs; (ii) information concerning Company's existing business, business systems, business and marketing plans and information systems; (iii) information concerning the Company contained in the Company's databases;
(iv) the nature of the work to be performed by the Reinsurer for the Company; (v) all "nonpublic personal information" (as hereinafter defined) about the Company's executives, officers, Board of Directors, employees,
agents or subcontractors; (vi) all information protected by rights embodied in copyrights, whether registered or unregistered (including all derivative works), patents or pending patent applications, and any other intellectual property rights
of the Company; and (vii) any attorney-client work-product privileged information; *provided, however*, that this Section 13.4(a) shall not apply to information which is: (i) in the public domain through no fault of the
Reinsurer; (ii) already known to the Reinsurer without obligations of confidentiality prior to its receipt from the Company; (iii) developed independently by the Reinsurer without use of Confidential Information received from the Company;
or (iv) received from a third party without similar restriction and without breach of this or a similar agreement, or is approved for disclosure in writing by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As used herein, "Customer Information" means all information possessed by the Company, in whatever
form, whether or not identified as such, pertaining to its members, clients, customers and other individuals seeking to obtain products, services or benefits from the Company, including information concerning or related to proposed, current and
former policy owners, insureds, applicants and beneficiaries of policies issued by the Company. Customer Information includes, but is not limited to: (i) all information contained in the Company's member, client and customer lists;
(ii) all information specifically designated as being personal or confidential; and (iii) all medical/health information; and (iv) all "nonpublic personal information," as that term is defined in Title V of the federal
Financial Services Modernization Act of 1999 as amended, and all "personal information," as that term is defined in the California Consumer Privacy Act of 2018 as amended, or as such terms (or similar terms) are defined by any other
foreign (as applicable), federal or state law; *provided, however*, that this Section 13.4(b) shall not apply to information that is in the public domain through no fault of the Reinsurer (information that is in the public domain shall
mean information that is lawfully made available from federal, state, or local governmental records).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As used herein, "Company trade secret information" and "Customer Information" shall be
defined collectively as "Confidential Information".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Reinsurer acknowledges that the use, privacy and security of Confidential Information is regulated by
various foreign, federal, state and local laws, rules, regulations, and self-regulatory frameworks that are applicable to its use and possession of such Confidential Information (collectively, "Applicable Laws"). With respect to
Confidential Information, the Reinsurer warrants and represents that it shall comply with any such Applicable Laws regarding the use, privacy and security of such Confidential Information. If a charge of non-compliance by the Reinsurer occurs with respect to any Applicable Laws, or if the Reinsurer determines that it can no longer meet its obligations under Applicable Laws, the Reinsurer shall promptly notify
the Company of such charges/determination in writing and promptly remediate the event, action and circumstances giving rise to such charge/determination. The Reinsurer will maintain all of the Company's Confidential Information in strict
confidence, and will not at any time or for any reason disclose any Confidential Information to any non-permissible third party without the prior written consent of the Company except: (i) to those of its
and its affiliates, personnel or subcontractors who need to know the Company' Confidential Information for purposes, including but not limited to (a) fulfill its obligations or exercise its rights under this Agreement, (b) aggregate
data with other companies' data for the purpose of creating mortality or lapse models, provided the data is not identifiable as belonging to a party or an insured, (c) perform the Reinsurer's internal risk-management functions,
analysis, research, benchmarking and data management practices, including but not limited to, the storage, access and maintenance of such data at its secure locations, and (d) retrocede risks covered by the Agreement or otherwise comply with
such retrocessionaire's requirements; and (ii) where it is required by a court to disclose Confidential Information, or there is a statutory obligation to do so, but only to the minimum extent necessary to comply with such court order or
statutory obligation, including disclosures to any insurance regulatory or self-regulatory authority (including the National Association of Insurance Commissioners) upon request of such authority or in the course of an audit or examination of the
Reinsurer's records and / or financial condition, or to the limited extent necessary to make proper disclosures in its quarterly or annual statement filings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Reinsurer will not use any of the Company's Confidential Information for any purpose whatsoever
except for the purposes necessary to fulfill its obligations as set forth under this Agreement or as otherwise permitted by this Agreement. The Reinsurer agrees to ensure, by agreement, instruction or otherwise, compliance with the same restrictions
and conditions that apply throughout this Agreement by its employees, agents, consultants, and others who are permitted access to or use of Confidential Information. All Company Confidential Information shall remain the sole and exclusive property
of the Company. No right, title or interest in the Confidential Information shall be conveyed by release of the Confidential Information. No Company Confidential Information shall be sold, assigned, leased or otherwise disposed of to third parties
by the Reinsurer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Reinsurer shall implement appropriate safeguards designed to ensure the security and protect against
unauthorized access to or use of Company's Confidential Information. The Reinsurer shall implement and comply with all appropriate and reasonable administrative, physical, and technical safeguards as required by Applicable Laws that are
designed to protect the confidentiality, integrity, and availability of Confidential Information that it stores, creates, receives, uses, maintains or transmits on behalf of the Company. The Reinsurer shall ensure by agreement or other obligations
and practice that any employee, agent, subcontractor, consultant or any others who are permitted access to the Company's Confidential Information agrees to abide by Reinsurer's policy an practices for employees and to implement
reasonable and appropriate safeguards to protect it that are at least as stringent and comprehensive as those set forth in this Agreement for third party entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) No more than once during any 12-month period, unless more frequently
required by Applicable Law or an applicable regulatory body, the Company may ask Reinsurer reasonable security, audit, scanning, discovery, and testing questions, and Reinsurer shall respond with completed questionnaires, third-party attestations,
and other summary statements to the extent Reinsurer makes them generally available to its customers. If the Reinsurer is required by law (i.e., a civil, criminal, or regulatory inquiry, investigation, subpoena, or summons by foreign, federal,
state, or local authorities) to disclose any Confidential Information, the Reinsurer shall, if legally permitted, promptly notify the Company and shall cooperate with the Company, at the Company's expense, in responding to the request, which
could include seeking a reasonable protective order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Reinsurer agrees to destroy the Confidential Information or any part thereof (i) upon request of the
Company after the termination of the Agreement, and (ii) subject to its retention policies and any retention obligations contained elsewhere in this Agreement, upon the Reinsurer's determination that it no longer has a need for such
Confidential Information. The Reinsurer shall implement and follow secure disposal procedures in accordance with any and all Applicable Laws. The Reinsurer may maintain additional limited copies of any Confidential Information for the limited
purposes of backup and disaster recovery; however, all protections under this Agreement will be extended to such Confidential Information, and further use and disclosure may only be permitted for backup and disaster recovery purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Reinsurer agrees to promptly notify the Company (in accordance with Applicable Laws but in no event more
than seventy-two (72) hours after the occurrence) if it becomes aware of or discovers, or reasonably suspects based upon documentary evidence, any use or disclosure of the Confidential Information that is
not authorized by this Agreement. Notification to the Company shall be communicated to the designated Company contact by telephone (920-628-2359) and subsequently via
written letter (Attn: Privacy Office) and email (<u>privacy@thrivent.com</u>), and shall include relevant details regarding the disclosure known to the Reinsurer at the time in accordance with its standard policies and procedures which may include
(i) the date and time at which the disclosure occurred and was discovered, (ii) the scope and type(s) of Confidential Information impacted by the disclosure and (iii) the status of the disclosure and all remediation measures taken.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Reinsurer further acknowledges and agrees that unauthorized disclosure, dissemination or use of the
Company's Confidential Information without the Company's prior written consent, or that is not otherwise permitted under this Agreement, may constitute a serious violation of Applicable Laws, as well as a breach of this Agreement. In the
event of an unauthorized disclosure, dissemination, or use of the Company's Confidential Information without the Company's prior written consent, the Reinsurer shall reimburse Company for its reasonable, direct, out-of-pocket costs arising from such event that are incurred only after consultation with Reinsurer, including (i) notice to persons affected and to law enforcement
agencies, regulatory bodies or other third parties as required to comply with laws or regulations; (ii) credit monitoring, identity theft protection or other similar mitigation products for a period of at least twelve (12) months or such
longer time as is required by Applicable Laws; and (iii) retaining a call center or developing any internal or external communication materials if reasonably necessary in order to respond to inquiries regarding the event for such period as is
required by Applicable Laws.

EXCEPT FOR DAMAGES OCCASIONED BY THE WILLFUL MISCONDUCT OR GROSS NEGLIGENCE OF REINSURER, OR DAMAGES OCCASIONED BY REINSURER'S BREACH OF ITS OBLIGATIONS WITH RESPECT TO CONFIDENTIAL INFORMATION, IN NO EVENT SHALL THE REINSURER OR ITS AFFILIATES BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL OR INDIRECT DAMAGES OF ANY KIND (COLLECTIVELY, "CONSEQUENTIAL DAMAGES"), INCLUDING LOST PROFITS OR LOSS OF GOODWILL, OR EXEMPLARY, PUNITIVE, OR SPECIAL DAMAGES ON ANY CLAIM OR DEMAND AGAINST IT BY ANOTHER PARTY ITS AFFILIATES OR ANY OTHER PERSONS, WHETHER IN CONTRACT, EQUITY, TORT (INCLUDING BREACH OF WARRANTY, NEGLIGENCE, AND STRICT LIABILITY IN TORT) OR OTHERWISE, EVEN IF, AND WHETHER OR NOT, REINSURER OR ITS AFFILIATES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES IN ADVANCE OR IF DAMAGES ARE REASONABLY FORESEEABLE. COMPANY AND ITS AFFILIATES HEREBY WAIVE ITS RIGHTS TO BRING ANY CLAIM FOR CONSEQUENTIAL DAMAGES AGAINST THE REINSURER OR ITS RELATED INDEMNIFIED PARTIES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Reinsurer agrees that if there is a breach or threatened breach of the provisions of this Article, the
Company may not have an adequate remedy in money or damages and will be entitled to seek injunctive relief and/or specific performance; provided, however, no specification in this Article of any particular remedy shall be construed as a waiver or
prohibition of any other remedies in the event of a breach or threatened breach of this Agreement. In the event that the Company determines that the Reinsurer has breached any material provision of this Agreement that applies to Confidential
Information, the Company shall notify the Reinsurer and the Reinsurer shall, provided the breach is subject to cure, satisfactorily address any such breach within thirty (30) days. If the Company determines, in its sole reasonable discretion,
that the Reinsurer has failed to remediate such breach within the thirty (30) day period, the Company has the right to terminate this Agreement. Notwithstanding this, the Company may not unreasonably fail to recognize a cured breach in an
effort to terminate this Agreement.

13.5 **Security** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Security of Confidential Information. The Reinsurer shall, and shall ensure that its personnel and third-party
contractors, implement and follow its policies that are designed to safeguard and prevent the unauthorized disclosure of the Company's Confidential Information as defined in and in accordance with this Agreement and Section 13.4,
Confidential Information.

18408-00-00 33

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Regulatory Compliance. The Reinsurer shall, and shall require that its personnel and third-party contractors,
(i) comply with applicable foreign, federal, state and local laws, rules, and regulations relating to the privacy, confidentiality, protection, retention, continuity, availability, and security of the Company's Confidential Information,
and (ii) only access and use the Company's Confidential Information as necessary to fulfill its obligations as set forth under this Agreement or as otherwise permitted by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) NIST Compliance. The Reinsurer agrees that all systems and technologies of the Reinsurer, the Reinsurer
personnel, and third-party contractors which store, access, transmit, create, receive or maintain the Company's Confidential Information conform to industry standard security practices which may include the relevant standards of the most
recent NIST Cyber-Security Framework's standards and controls (<u>http://www.nist.gov/cyberframework</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Verification of Breach Resolution. The Reinsurer shall provide contemporaneous updates relating to the
corrective actions being taken to resolve any such data breach, in addition to mitigating action to prevent future similar data breaches from occurring.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Security Accreditation. Upon request by the Company, no more than once per year, the Reinsurer shall provide
the Company with a copy of its current certified SOC 2 type 2 Audit Report, or a comparable industry standard report, for systems of the Reinsurer and the Reinsurer personnel (or comparable industry-standard successor report prepared by independent
third-party auditor).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Right to Perform Due Diligence and Assessments. The Reinsurer agrees to cooperate with the Company's
reasonable requests to perform due diligence and assessments, including but not limited to (i) responding in good faith to reasonable requests to change or modify this Agreement as it relates to the Company's regulatory compliance, and
responding in good faith to any requests due to the Company fulfilling its compliance with state or federal legal requirements to perform Due Diligence and Assessments, and (ii) providing information, including system audit information and
incident response information, to validate ongoing compliance by the Reinsurer, the Reinsurer personnel, and third-party contractors with the security (e.g., the adequacy of required controls and practices performed) and confidentiality obligations
hereunder. Assessments cannot be performed more often than once in any consecutive twelve (12) month period, unless more frequently required by Applicable Law or an applicable regulatory body.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Reinsurer agrees to establish, implement and periodically test commercially reasonable business continuity,
cybersecurity and disaster recovery plans as are customary in the case of companies in similar lines of business of comparable size, complexity and type as the Reinsurer. The Company shall be entitled to review an executive summary of such policies
and plans upon reasonable advance notice to Reinsurer as a part of such assessments outlined in (f).

18408-00-00 34

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Location and Control of Services. The method and means of providing the reinsurance services shall be under the
exclusive control, management, and supervision of the Reinsurer or if affiliates. Company acknowledges and agrees that Reinsurer is a global company and may utilize global resources to support the services, provided that the Confidential Information
shall at all times be stored in the U.S.

13.6 **OFAC Compliance** 

The parties represent that they are using, and shall use, best efforts to continue to be in compliance with all laws, regulations, judicial and administrative orders applicable to the Reinsured Policies as they pertain to the sanction laws administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC"), as such laws may be amended from time to time (collectively the "Laws"). Neither party shall be required to take any action under this Agreement that would violate said Laws, including, but not limited to, making any payments in violation of the Laws.

Should either party discover or otherwise become aware that a reinsurance transaction has been entered into or a payment has been made in violation of the Laws, the party who first becomes aware of the violation of the Laws shall notify the other party, and the parties shall cooperate in order to take all necessary corrective actions.

The parties agree that such reinsurance transaction shall be null, void and of no effect from its inception, to the same extent as if the reinsurance transaction had never been entered into. In such event, each party shall be restored to the position it would have occupied if the violation had not occurred, including the return of any payments received, unless prohibited by law.

13.7 **Foreign Account Tax Compliance Act (FATCA)** 

Both the Reinsurer and the Company agree to provide all information necessary to comply with the Foreign Account Tax Compliance Act (FATCA) consistent with Sections 1471 – 1474 of the U.S. Internal Revenue Code and any Treasury Regulations, or other guidance issued pursuant thereto, including, without limitation, as applicable, Forms W-9, Forms W-8BEN-E, any information necessary for the parties to enter into an agreement described in Section 1471(b) of the U.S. Internal Revenue Code and to comply with the terms of that agreement or to comply with the terms of any inter-governmental agreements between the U.S. and any other jurisdictions relating to FATCA. This information shall be provided promptly upon reasonable request by either party to this Agreement and promptly upon learning that any such information previously provided has become obsolete or incorrect.

The parties to this Agreement acknowledge that if they fail to supply such information on a timely basis, it may be subject to a 30% U.S. withholding tax imposed on payments of U.S. source income.

18408-00-00 35

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**Article 14** 

14.1 **Representations and Warranties** 

The Company makes no representations and warranties as to the future experience or profitability arising from the Reinsured Policies.

Each party represents and warrants that as of the Effective Date of this Agreement and at the time of executing this Agreement, if later, it is solvent on a statutory basis in all states in which it does business or is licensed.

This Article will not terminate or expire until all Reinsured Policies have been discharged or terminated in full.

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**Article 15** 

15.1 **Material Changes** 

"Material" or "materially" for purposes of this Agreement will mean facts that a prudent reinsurer or insurer would consider as reasonably likely to affect the Reinsurer's experience under the Agreement. Prior to the execution of this Agreement, the Company has provided to the Reinsurer the Business Guidelines, as shown in Exhibit A-1 for use in its assessment of the risks covered hereunder. The Company represents and warrants that, to the best of its knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) It has disclosed to the Reinsurer all information which is material to the risks being assumed hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The Business Guidelines were complete and accurate when disclosed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) There has been no material change in the Business Guidelines between the "as of" dates of the
information and the date of Agreement execution.

The Ceding Company will promptly notify the Reinsurer of any proposed material changes to all the aforementioned, as well as any changes to policyholder non-guaranteed elements on Conversion Policies (excluding changes to interest crediting rates or indexing parameters). This Agreement will not cover policies affected by such material changes unless the Reinsurer has agreed in writing in advance with the material changes. For any material change, the Ceding Company agrees to provide twenty (20) days' advance written notice to the Reinsurer, and the Reinsurer agrees to provide its decision in writing with regard to the proposed change within twenty (20) days. If there is no response from the Reinsurer, the Ceding Company will follow up with the Reinsurer before expiration of the review period. The Reinsurer's failure to respond within twenty (20) days will constitute its acceptance of these changes

If Reinsured Policies are not covered due to an unapproved material change, all payments between the Company and the Reinsurer with respect to the affected Policies shall be refunded, excluding items relating to reserves or interest on reserves. No liability shall remain with the Reinsurer with respect to such Policies.

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**Article 16** 

16.1 **Duration of Agreement** 

This Agreement is unlimited as to its duration.

The Reinsurer or the Company may terminate this Agreement for new business at any time by giving ninety (90) days prior written notice or pursuant to Article 15.1 (Material Changes) of this Agreement. If, however, notice of termination is given during the three calendar month period following the Effective Date of this Agreement, termination for new business will become effective on the last day of that calendar quarter. During the ninety (90) day notice period, the Company will continue to cede and the Reinsurer will continue to accept new policies covered under the terms of this Agreement.

The Reinsurer will remain liable for all Reinsured Policies in force as of the date of the termination, until their natural expiration, or until the contractual termination of reinsurance under the terms of this Agreement, whichever occurs first, unless the parties mutually decide otherwise or as specified otherwise in this Agreement. All provisions of this Agreement will survive its termination to the extent necessary to carry its purpose.

If the Reinsurer has made a facultative offer prior to the termination date of this Agreement and the Company has accepted that facultative offer before the termination of this Agreement or the termination of the Reinsurer's offer, whichever comes later, the Reinsurer will be liable to honor the facultative offer even if the effective date of the policy falls beyond the termination date of this Agreement.

16.2 **Severability** 

Determination that any provision of this Agreement is invalid or unenforceable will not affect or impair the validity or the enforceability of the remaining provisions of this Agreement.

16.3 **Construction ** ** 

This Agreement will be construed and administered without regard to authorship and without any presumption or rule of construction in favor of either party. This Agreement is between sophisticated parties, each of which has reviewed the Agreement and is fully knowledgeable about its terms and conditions.

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16.4 **Credit for Reinsurance** 

The parties intend that the Company will be eligible to receive statutory reserve credit in its state of domicile for reinsurance provided under this Agreement. The parties agree to use reasonable efforts to ensure that such reserve credit will remain available to the Company.

If the Company loses statutory reserve credit due to a failure by the Reinsurer to maintain in effect a required license or accreditation in the Company's state of domicile (hereinafter a "Reserve Credit Event"), then the parties will take the steps specified below. The parties will provide prompt notice of the occurrence of any Reserve Credit Event.

Upon the occurrence of any Reserve Credit Event, the Reinsurer shall take all commercially reasonable steps to establish on behalf of the Company a "Mitigation Measure" as defined below. The Reinsurer will have the option of determining the Mitigation Measure(s) to be utilized so long as the Company is satisfied that such method will provide such statutory financial statement credit. If a Mitigation Measure, or combination thereof, is established, the Reinsurer will only be required to provide the Mitigation Measure(s) until the loss of license or accreditation is cured.

If a Reserve Credit Event is not cured and the Reinsurer fails to establish or maintain a Mitigation Measure, or combination thereof, as set forth above within sixty (60) days following the Reserve Credit Event ("Credit for Reinsurance Cure Period"), then the Company may recapture the business ceded under this Agreement. The Company will provide written notice to the Reinsurer within ninety (90) calendar days of the expiration of the Credit for Reinsurance Cure Period should it elect to recapture under this <u>Article 16.4</u>. The effective date of the recapture will be no earlier than the date on which the Reserve Credit Event occurred and no later than ninety (90) days following the Company's notice of intent to recapture. The recapture will be further subject to the terms of Article 8.3. While the Mitigation Measure(s) is/are maintained in an amount and form which cures the Reserve Credit Event, the recapture right pursuant to this <u>Article 16.4</u> will not be applicable.

"Mitigation Measure" shall be defined as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Assets in trust in an amount necessary to secure the reserve ceded by the Company to the Reinsurer under this
Agreement in a form acceptable under the credit for reinsurance laws and regulations of the Company's state of domicile; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Clean, irrevocable letters of credit in an amount necessary to secure the reserve ceded by the Company to the
Reinsurer under this Agreement in a form acceptable under the credit for reinsurance laws and regulations of the Company's state of domicile; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. A novation to an affiliate reinsurer of the Reinsurer to which the Company has consented; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Funds withheld by the Company from the Reinsurer in an amount necessary to secure the reserve ceded by the
Company to the Reinsurer under this Agreement under the credit for reinsurance laws and regulations of the Ceding Company's state of domicile; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Some combination of (a), (b), (c), and/or (d) above; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Some other accommodation or form of security offered by the Reinsurer and acceptable to the Company.

16.5 **Non-Waiver** 

A waiver by either party of any violation, or the default by the other party in its adherence to any term of this Agreement, will not constitute a waiver of any other or subsequent violation or default. No prior transaction or dealing between the parties will establish any custom, usage or precedent waiving or modifying any provision of the Agreement. The failure of either party to enforce any part of this Agreement will not constitute a waiver of any right to do so.

16.6 **Retrocession** 

The Reinsurer may reinsure or retrocede any risks or business assumed hereunder.

16.7 **Governing Law** 

This Agreement shall be governed by the laws of the State of Wisconsin.

16.8 **Interest** 

Each party reserves the right to charge interest on undisputed overdue balances, pursuant to the terms of this Agreement. If applicable, interest will be calculated according to the terms specified in Exhibit C.

16.9 **Advertising/Publicity** 

Neither Party shall use the other Party's trade name, logos, trademark, service marks, or any related property, or refer to or identify the other Party, in any advertising, publicity releases (including references on any customer lists or posting on public facing web-sites), or promotional or marketing correspondence to others.

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16.10 **Counterparts** 

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one Agreement, and any of the parties hereto may execute this Agreement by signing any such counterpart. The parties agree that transmission of signature on the original signature page via electronic means, either by facsimile or electronic mail, shall constitute valid execution of this Agreement and that there shall be no obligation to exchange copies of such original "wet" signatures. When this Agreement has been fully executed by the Company and the Reinsurer, it will become effective as of the Effective Date specified in Exhibit A.

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**Execution** 

Signed for and on behalf of **Thrivent Financial for Lutherans**

---

| | | | |
|:---|:---|:---|:---|
| By: | ![LOGO](g95392dsp180a.jpg) <br>| By: | ![LOGO](g95392dsp180b.jpg) <br>|
| Title: | SVP, Chief Actuary | Title: | VP, Solutions Pricing & Development |
| Date: | August 6, 2025 | Date: | August 6, 2025 |
| Signed for and on behalf of **RGA Reinsurance Company** | Signed for and on behalf of **RGA Reinsurance Company** | Signed for and on behalf of **RGA Reinsurance Company** | Signed for and on behalf of **RGA Reinsurance Company** |
| By: | ![LOGO](g95392dsp249c.jpg) <br>| By: | ![LOGO](g95392dsp180d.jpg) <br>|
| Title: | Authorized Signatory | Title: | Authorized Signatory |
| Date: | August 1, 2025 | Date: | August 1, 2025 |

---

18408-00-00 42

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**Exhibit A** 

**Business Covered** 

**Agreement Effective Date:** 

January 1, 2025. The commencement dates for specific plans are shown below.

**Coverage:** 

The policies on the plans shown below which have policy issue dates falling in the period that begins with the Commencement Date and ends with the Termination Date and that qualify for automatic reinsurance are covered according to the Basis specified below, provided that the policies are issued to legal permanent residents of the United States, Canada, Puerto Rico, or Guam, or the policies are issued to insureds that meet the "Field Guidelines for Non-U.S. Persons" which were provided to the Reinsurer and are listed in Exhibit A-1, Business Guidelines. Policies may be backdated up to six (6) months to save age.

Professional Athletes will not be reinsured on an automatic basis. A Professional Athlete is defined as an individual who is a team member, which includes players, coaches, trainers, and managers, in any of the five major U.S. professional sports—Major League Baseball (MLB), Major League Soccer (MLS), National Football League (NFL), the National Basketball Association (NBA), or National Hockey League (NHL).

**Basis:**

Reinsurer Share: 20.1% of each policy on a First Dollar quota share basis thirty (30)% of the 67%) not to exceed the maximum Automatic Binding Limit and Jumbo Limit stated in Exhibit E. If the Company has filled its maximum retention on the life as specified in Exhibit D, the percentage the Reinsurer will automatically accept will increase to thirty (30)% of amounts in excess of the maximum retention limit on the life.

Any change in the net amount at risk due to changes in the cash value applicable to the policy will be shared proportionately between the Company and its reinsurers.

**Plans, Riders and Benefits:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Product Identification** | **Form No.** | **Commencement<br>Date** | **Issue Ages (ALB)** | **Issue Ages (ALB)** | **Issue Ages (ALB)** | **Issue Ages (ALB)** |
| | **Form No.** | **Commencement<br>Date** | **Non-NY** | **Non-NY** | **NY** | **NY** |
| | **Form No.** | **Commencement<br>Date** | **Smoker** | **Non<br>Smoker** | **Smoker** | **Non<br>Smoker** |
|  10 Year Term |  | January 1, 2025 | 18 - 75 | 18 - 75 | 18 - 70 | 18 - 70 |
|  15 Year Term |  | January 1, 2025 | 18 - 70 | 18 - 70 | 18 - 65 | 18 - 65 |
|  20 Year Term |  | January 1, 2025 | 18 - 65 | 18 - 65 | 18 - 60 | 18 - 60 |
|  30 Year Term Accelerated |  | January 1, 2025 | 18 -<br>50 | 18 -<br>55 | 18 - 50 | 18 - 50 |
|  Death Benefit for Terminal Illness Rider\* |  | January 1, 2025 | Follows base policy | Follows base policy | Follows base policy | Follows base policy |

---

\* Accelerated Death Benefit for Terminal Illness Rider is reinsured at no additional cost.

18408-00-00 43

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Disability Waiver not reinsured.

For products sold with a term conversion privilege, there are two options:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Basic term conversion – allows for conversion from issue date to end of day before 5th contract
anniversary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Extended term conversion – allows for conversion from issue date to end of day before the earlier of
(i) contract anniversary at end of level period; or (ii) when the insured reaches attained age 70 for issue ages 18 – 64.

**Company's State of Domicile:** Wisconsin

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**Exhibit A-1** 

**Business Guidelines** 

The Company affirms that the following have been supplied to the Reinsurer and are in use as of the Effective Date of this Agreement:

1. Policy Form(s)

2. Policy Application Form(s)

3. Underwriting Guidelines and Rules

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Life Insurance Age and Amount Grid

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Build Charts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Preferred Criteria

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Field Guidelines for Non-U.S. Persons **  

4. LTIV (Level Term IV) Product Paper

5. Declaration of Insurability

The Company affirms that the following Underwriting Manual is in use as of the Effective Date of this Agreement:

Swiss Re's LifeGuide

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**Exhibit A-2** 

**Facultative Submissions** 

The Company may submit on a facultative basis to the Reinsurer any application for a policy which meets the conditions outlined in Article 2.2. by sending to the Reinsurer an Application for Reinsurance, a sample of which is included as Exhibit B. The Application for Reinsurance will include copies of all underwriting evidence that is available for risk assessment, including copies of the application for insurance, medical examiners' reports, attending physicians' statements, inspection reports, and other papers bearing on the insurability of the risk as requested by the Reinsurer. The Company will also notify the Reinsurer of any outstanding underwriting requirements at the time of the facultative submission. Any subsequent information pertinent to the risk assessment will be transmitted to the Reinsurer immediately.

The Company has the responsibility to clearly identify the ultimate death benefit as the face amount to be reinsured at the time a request for coverage is made so that the Reinsurer's underwriters are aware of the highest projected Policy Death Benefit amount. The highest Reinsured Net Amount at Risk can never exceed the amount of the Reinsurer's offer. Year-to-year changes in risk will be shared proportionately, determined by the amount of retention relative to the amount of reinsurance, unless specified otherwise.

After consideration of the Application for Reinsurance and related papers, the Reinsurer will promptly inform the Company of its underwriting decision. The Reinsurer's facultative offer will expire at the end of 120 days, unless otherwise specified by the Reinsurer. If the Company accepts the Reinsurer's offer and the policy is placed in force in accordance with the Business Guidelines provided to the Reinsurer, the Company will duly notify the Reinsurer as described below. The Reinsurer's share of liability for such policy will commence at the time specified in Article 4.2 of the Agreement.

In order to accept any Facultative offer made by the Reinsurer to the Ceding Company, the Ceding Company must: (1) notify the Reinsurer of its acceptance of the offer, including the amount accepted, (2) issue the policy within one hundred twenty (120) days after the date of the Reinsurer's offer (the "Acceptance Period"); and (3) report the policy to the Reinsurer, according to the New Business report specified in Exhibit F, within ninety (90) days of the end of the Acceptance Period (the "Offer Expiration Period"). If the above requirements are not completed by the end of the Offer Expiration Period, the Reinsurer's Facultative offer shall expire and no reinsurance coverage shall exist on the risk. Notwithstanding the preceding, if the Reinsurer does not receive a formal acceptance notification, the Reinsurer will deem the reporting of the policy to the Reinsurer by the end of the Offer Expiration Period as the acceptance of the Facultative offer and the extent of coverage will be determined by the amount reported to the Reinsurer as of such time.

If any risk is submitted to more than one reinsurer for consideration, the Company's rules for placement of facultative cases will apply. Article 10.1 – Errors and Omissions, shall not apply to the acceptance or failure to accept the Reinsurer's Facultative offer and to the amount of such offer accepted.

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**Exhibit B**![LOGO](g95392dsp185.jpg)

Reinsurance Application From: Company Name Last Applicant's Name Social Security Number Plan Curr Residence For Premium Tax Type of Application Facultative Automatic Decrement Cash Values Reserves Reinsurance Amounts Basic Coverage Previous Insurance In force Of Which We Retained - Insurance Now Applied For - Of Which We Retain - Reinsurance This Cession - Extra Premium Rating If Substandard - Coinsurance Premium - \*For YRT cases state Gross Premiums and Expiry Ages for benefits Additional Information or Remarks Date Policy Number Placement Date WP By First Additional Coverage AD Company Name Preferred Self Administered (Bulk) Age Basis Other Middle Smoker Policy Date Retention Code Waiver Premium Accidental Death Benefit Amount of Premium Date of Birth Nonsmoker Terms YRT to be Waived Preliminary Term From Full Benefit Age Reunderwriting Coinsurance Reduced Other Benefits Annual Decrement for Amount at Risk Sex Nil

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**Exhibit C** 

**General Terms** 

1. **Premium Tax:** 

The Reinsurer will not reimburse the Company for premium taxes.

2. **Dividend Payments:** 

The Reinsurer will not reimburse the Company for dividends paid to policyholders.

3. **Policy Loans:** 

The Reinsurer will not participate in policy loans or other forms of indebtedness as respects the Reinsured Policies.

4. **Cash Surrender Values:** 

The Reinsurer will not reimburse the Company for cash surrender values paid to the policyholder.

5. **Reinsurance Limits:** 

**Minimum Initial Automatic Reinsurance Limit ceded to the Reinsurer:** $0

**Minimum Final Automatic Reinsurance Limit ceded to the Reinsurer:** $0

**Minimum Initial Facultative Reinsurance Limit:** $0

6. **Interest Calculation on Late Payments:** Interest will accrue from the due date at a rate equal to the
Secured Overnight Financing Rate (SOFR) 180 day average as reported on the New York Federal Reserve website on the due date or, if the due date is not a business day, on the next business day after the due date, plus 25 basis points per annum to be
compounded and adjusted every three months after such due date.

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**Exhibit C-1** 

**Rates and Terms for Level Term IV (10, 15, 20, and thirty (30) year level term)** 

1. **Reinsurance Structure:** YRT

2. **Age Basis:** Last

3. **Premium Mode:** Annual in Advance

4. **Billing Frequency:** Monthly

5. **Premiums:** 

**Basic Premiums:** 

The Company will pay to the Reinsurer a basic premium calculated by multiplying the Reinsured Net Amount at Risk of the Reinsured Policy, as defined in this Exhibit, by the appropriate rate from the 2015 VBT Select & Ultimate, Gender and Smoker distinct set of rates which have been included at the end of this Exhibit, subject to the percentages shown below. The Company will continue to pay the appropriate premium to the Reinsurer as long as the Reinsured Policy is in force.

Accelerated underwriting follows the Company's underwriting guidelines. Policies issued and classified as Accelerated Pass will use Accelerated Underwriting percentages. All other business submitted for Accelerated (failed and holdout) will use Full Underwriting percentages. The following percentages will be applied to the reinsurance premiums payable hereunder:

18408-00-00 49

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Full Underwriting $100,000-$249,999** | **Full Underwriting $100,000-$249,999** | **Year 1** | **Level** | **Period - Years 2+** | **Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-40** | **Ages 41-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 85 | 59 | 55 |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 92 | 64 | 62 |
|  10 Year<br> Male | Preferred Non-tob | 0% | 104 | 79 | 77 |
|  10 Year<br> Male | Standard Non-tob | 0% | 144 | 101 | 96 |
|  10 Year<br> Male | Preferred Tob | 0% | 110 | 74 | 68 |
|  10 Year<br> Male | Standard Tob | 0% | 136 | 89 | 82 |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 81 | 52 | 52 |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 86 | 58 | 56 |
|  10 Year<br> Female | Preferred Non-tob | 0% | 108 | 78 | 75 |
|  10 Year<br> Female | Standard Non-tob | 0% | 137 | 95 | 91 |
|  10 Year<br> Female | Preferred Tob | 0% | 98 | 78 | 72 |
|  10 Year<br> Female | Standard Tob | 0% | 118 | 91 | 86 |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 68 | 52 | 52 |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 75 | 56 | 57 |
|  15 Year<br> Male | Preferred Non-tob | 0% | 85 | 67 | 72 |
|  15 Year<br> Male | Standard Non-tob | 0% | 119 | 86 | 87 |
|  15 Year<br> Male | Preferred Tob | 0% | 86 | 70 | 68 |
|  15 Year<br> Male | Standard Tob | 0% | 111 | 82 | 80 |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 66 | 49 | 49 |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 69 | 51 | 53 |
|  15 Year<br> Female | Preferred Non-tob | 0% | 92 | 71 | 73 |
|  15 Year<br> Female | Standard Non-tob | 0% | 117 | 83 | 84 |
|  15 Year<br> Female | Preferred Tob | 0% | 80 | 71 | 70 |
|  15 Year<br> Female | Standard Tob | 0% | 104 | 83 | 83 |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 60 | 47 | 47 |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 68 | 55 | 57 |
|  20 Year<br> Male | Preferred Non-tob | 0% | 76 | 65 | 71 |
|  20 Year<br> Male | Standard Non-tob | 0% | 108 | 80 | 82 |
|  20 Year<br> Male | Preferred Tob | 0% | 86 | 68 | 66 |
|  20 Year<br> Male | Standard Tob | 0% | 110 | 80 | 78 |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 56 | 45 | 47 |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 62 | 54 | 57 |
|  20 Year<br> Female | Preferred Non-tob | 0% | 85 | 66 | 67 |
|  20 Year<br> Female | Standard Non-tob | 0% | 108 | 80 | 82 |
|  20 Year<br> Female | Preferred Tob | 0% | 79 | 70 | 68 |
|  20 Year<br> Female | Standard Tob | 0% | 103 | 79 | 78 |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 56 | 54 | 51 |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 60 | 58 | 55 |
|  30 Year<br> Male | Preferred Non-tob | 0% | 71 | 69 | 66 |
|  30 Year<br> Male | Standard Non-tob | 0% | 97 | 90 | 83 |
|  30 Year<br> Male | Preferred Tob | 0% | 77 | 73 | 68 |
|  30 Year<br> Male | Standard Tob | 0% | 95 | 88 | 80 |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 55 | 52 | 49 |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 59 | 57 | 55 |
|  30 Year<br> Female | Preferred Non-tob | 0% | 78 | 75 | 71 |
|  30 Year<br> Female | Standard Non-tob | 0% | 97 | 91 | 84 |
|  30 Year<br> Female | Preferred Tob | 0% | 75 | 73 | 71 |
|  30 Year<br> Female | Standard Tob | 0% | 93 | 88 | 82 |

---

18408-00-00 50

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Full Underwriting $250,000 - $1,000,000** | **Full Underwriting $250,000 - $1,000,000** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All<br>ages** | **Ages 18-40** | **Ages 41-50** | **Ages 51+** |
| 10 Year Male | Preferred best Non-tob | 0% | 74 | 56 | 52 |
| 10 Year Male | Super Preferred Non-tob | 0% | 82 | 57 | 55 |
| 10 Year Male | Preferred Non-tob | 0% | 89 | 71 | 70 |
| 10 Year Male | Standard Non-tob | 0% | 124 | 94 | 89 |
| 10 Year Male | Preferred Tob | 0% | 87 | 70 | 64 |
| 10 Year Male | Standard Tob | 0% | 107 | 84 | 77 |
| 10 Year Female | Preferred best Non-tob | 0% | 75 | 52 | 52 |
| 10 Year Female | Super Preferred Non-tob | 0% | 79 | 54 | 53 |
| 10 Year Female | Preferred Non-tob | 0% | 96 | 70 | 68 |
| 10 Year Female | Standard Non-tob | 0% | 120 | 85 | 81 |
| 10 Year Female | Preferred Tob | 0% | 84 | 70 | 65 |
| 10 Year Female | Standard Tob | 0% | 101 | 82 | 77 |
| 15 Year Male | Preferred best Non-tob | 0% | 61 | 48 | 48 |
| 15 Year Male | Super Preferred Non-tob | 0% | 70 | 55 | 55 |
| 15 Year Male | Preferred Non-tob | 0% | 76 | 59 | 64 |
| 15 Year Male | Standard Non-tob | 0% | 101 | 80 | 81 |
| 15 Year Male | Preferred Tob | 0% | 73 | 67 | 65 |
| 15 Year Male | Standard Tob | 0% | 94 | 80 | 78 |
| 15 Year Female | Preferred best Non-tob | 0% | 56 | 49 | 49 |
| 15 Year Female | Super Preferred Non-tob | 0% | 57 | 51 | 52 |
| 15 Year Female | Preferred Non-tob | 0% | 76 | 63 | 65 |
| 15 Year Female | Standard Non-tob | 0% | 96 | 80 | 80 |
| 15 Year Female | Preferred Tob | 0% | 69 | 66 | 65 |
| 15 Year Female | Standard Tob | 0% | 89 | 77 | 77 |
| 20 Year Male | Preferred best Non-tob | 0% | 55 | 46 | 47 |
| 20 Year Male | Super Preferred Non-tob | 0% | 63 | 49 | 51 |
| 20 Year Male | Preferred Non-tob | 0% | 70 | 56 | 63 |
| 20 Year Male | Standard Non-tob | 0% | 93 | 80 | 82 |
| 20 Year Male | Preferred Tob | 0% | 72 | 66 | 64 |
| 20 Year Male | Standard Tob | 0% | 93 | 80 | 78 |
| 20 Year Female | Preferred best Non-tob | 0% | 52 | 43 | 45 |
| 20 Year Female | Super Preferred Non-tob | 0% | 55 | 50 | 53 |
| 20 Year Female | Preferred Non-tob | 0% | 72 | 67 | 68 |
| 20 Year Female | Standard Non-tob | 0% | 91 | 77 | 79 |
| 20 Year Female | Preferred Tob | 0% | 69 | 66 | 64 |
| 20 Year Female | Standard Tob | 0% | 88 | 77 | 76 |
| 30 Year Male | Preferred best Non-tob | 0% | 52 | 51 | 50 |
| 30 Year Male | Super Preferred Non-tob | 0% | 57 | 56 | 54 |
| 30 Year Male | Preferred Non-tob | 0% | 66 | 64 | 62 |
| 30 Year Male | Standard Non-tob | 0% | 85 | 83 | 80 |
| 30 Year Male | Preferred Tob | 0% | 70 | 69 | 67 |
| 30 Year Male | Standard Tob | 0% | 86 | 83 | 80 |
| 30 Year Female | Preferred best Non-tob | 0% | 52 | 51 | 49 |
| 30 Year Female | Super Preferred Non-tob | 0% | 55 | 55 | 55 |
| 30 Year Female | Preferred Non-tob | 0% | 69 | 69 | 68 |
| 30 Year Female | Standard Non-tob | 0% | 87 | 84 | 80 |
| 30 Year Female | Preferred Tob | 0% | 68 | 67 | 66 |
| 30 Year Female | Standard Tob | 0% | 84 | 81 | 78 |

---

18408-00-00 51

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Full Underwriting $1,000,001 - $3,000,000** | **Full Underwriting $1,000,001 - $3,000,000** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-40** | **Ages 41-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 71 | 57 | 53 |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 80 | 60 | 57 |
|  10 Year<br> Male | Preferred Non-tob | 0% | 92 | 76 | 72 |
|  10 Year<br> Male | Standard Non-tob | 0% | 119 | 97 | 90 |
|  10 Year<br> Male | Preferred Tob | 0% | 86 | 70 | 64 |
|  10 Year<br> Male | Standard Tob | 0% | 103 | 85 | 77 |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 72 | 56 | 54 |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 75 | 58 | 56 |
|  10 Year<br> Female | Preferred Non-tob | 0% | 93 | 74 | 69 |
|  10 Year<br> Female | Standard Non-tob | 0% | 114 | 89 | 83 |
|  10 Year<br> Female | Preferred Tob | 0% | 82 | 71 | 65 |
|  10 Year<br> Female | Standard Tob | 0% | 98 | 85 | 78 |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 61 | 48 | 48 |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 68 | 55 | 55 |
|  15 Year<br> Male | Preferred Non-tob | 0% | 78 | 64 | 66 |
|  15 Year<br> Male | Standard Non-tob | 0% | 98 | 82 | 82 |
|  15 Year<br> Male | Preferred Tob | 0% | 70 | 66 | 64 |
|  15 Year<br> Male | Standard Tob | 0% | 86 | 78 | 77 |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 54 | 49 | 49 |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 60 | 52 | 53 |
|  15 Year<br> Female | Preferred Non-tob | 0% | 72 | 66 | 67 |
|  15 Year<br> Female | Standard Non-tob | 0% | 89 | 81 | 81 |
|  15 Year<br> Female | Preferred Tob | 0% | 67 | 66 | 65 |
|  15 Year<br> Female | Standard Tob | 0% | 84 | 77 | 77 |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 55 | 47 | 47 |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 63 | 52 | 53 |
|  20 Year<br> Male | Preferred Non-tob | 0% | 71 | 62 | 65 |
|  20 Year<br> Male | Standard Non-tob | 0% | 91 | 83 | 84 |
|  20 Year<br> Male | Preferred Tob | 0% | 68 | 65 | 64 |
|  20 Year<br> Male | Standard Tob | 0% | 85 | 78 | 77 |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 52 | 45 | 46 |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 55 | 53 | 54 |
|  20 Year<br> Female | Preferred Non-tob | 0% | 71 | 68 | 68 |
|  20 Year<br> Female | Standard Non-tob | 0% | 88 | 79 | 80 |
|  20 Year<br> Female | Preferred Tob | 0% | 66 | 65 | 63 |
|  20 Year<br> Female | Standard Tob | 0% | 83 | 76 | 75 |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 52 | 52 | 52 |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 57 | 57 | 57 |
|  30 Year<br> Male | Preferred Non-tob | 0% | 67 | 67 | 67 |
|  30 Year<br> Male | Standard Non-tob | 0% | 84 | 84 | 84 |
|  30 Year<br> Male | Preferred Tob | 0% | 65 | 65 | 65 |
|  30 Year<br> Male | Standard Tob | 0% | 80 | 80 | 80 |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 54 | 54 | 54 |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 58 | 58 | 58 |
|  30 Year<br> Female | Preferred Non-tob | 0% | 71 | 71 | 71 |
|  30 Year<br> Female | Standard Non-tob | 0% | 87 | 87 | 87 |
|  30 Year<br> Female | Preferred Tob | 0% | 64 | 64 | 64 |
|  30 Year<br> Female | Standard Tob | 0% | 78 | 78 | 78 |

---

18408-00-00 52

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Full Underwriting $3,000,001 +** | **Full Underwriting $3,000,001 +** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-40** | **Ages 41-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 66 | 58 | 53 |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 77 | 64 | 59 |
|  10 Year<br> Male | Preferred Non-tob | 0% | 95 | 82 | 75 |
|  10 Year<br> Male | Standard Non-tob | 0% | 114 | 100 | 92 |
|  10 Year<br> Male | Preferred Tob | 0% | 84 | 71 | 65 |
|  10 Year<br> Male | Standard Tob | 0% | 98 | 85 | 77 |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 68 | 61 | 56 |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 73 | 63 | 58 |
|  10 Year<br> Female | Preferred Non-tob | 0% | 91 | 78 | 71 |
|  10 Year<br> Female | Standard Non-tob | 0% | 107 | 94 | 86 |
|  10 Year<br> Female | Preferred Tob | 0% | 80 | 72 | 66 |
|  10 Year<br> Female | Standard Tob | 0% | 95 | 87 | 79 |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 61 | 49 | 49 |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 65 | 55 | 55 |
|  15 Year<br> Male | Preferred Non-tob | 0% | 79 | 69 | 69 |
|  15 Year<br> Male | Standard Non-tob | 0% | 93 | 83 | 83 |
|  15 Year<br> Male | Preferred Tob | 0% | 67 | 63 | 63 |
|  15 Year<br> Male | Standard Tob | 0% | 78 | 75 | 75 |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 53 | 49 | 49 |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 61 | 54 | 54 |
|  15 Year<br> Female | Preferred Non-tob | 0% | 68 | 68 | 68 |
|  15 Year<br> Female | Standard Non-tob | 0% | 82 | 81 | 81 |
|  15 Year<br> Female | Preferred Tob | 0% | 65 | 64 | 64 |
|  15 Year<br> Female | Standard Tob | 0% | 77 | 76 | 76 |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 54 | 47 | 47 |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 63 | 54 | 54 |
|  20 Year<br> Male | Preferred Non-tob | 0% | 73 | 69 | 69 |
|  20 Year<br> Male | Standard Non-tob | 0% | 89 | 85 | 85 |
|  20 Year<br> Male | Preferred Tob | 0% | 63 | 63 | 63 |
|  20 Year<br> Male | Standard Tob | 0% | 75 | 75 | 75 |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 51 | 46 | 46 |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 55 | 55 | 55 |
|  20 Year<br> Female | Preferred Non-tob | 0% | 69 | 69 | 69 |
|  20 Year<br> Female | Standard Non-tob | 0% | 86 | 81 | 81 |
|  20 Year<br> Female | Preferred Tob | 0% | 62 | 62 | 62 |
|  20 Year<br> Female | Standard Tob | 0% | 74 | 74 | 74 |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 52 | 52 | 52 |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 58 | 58 | 58 |
|  30 Year<br> Male | Preferred Non-tob | 0% | 68 | 68 | 68 |
|  30 Year<br> Male | Standard Non-tob | 0% | 84 | 84 | 84 |
|  30 Year<br> Male | Preferred Tob | 0% | 60 | 60 | 60 |
|  30 Year<br> Male | Standard Tob | 0% | 72 | 72 | 72 |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 57 | 57 | 57 |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 59 | 59 | 59 |
|  30 Year<br> Female | Preferred Non-tob | 0% | 71 | 71 | 71 |
|  30 Year<br> Female | Standard Non-tob | 0% | 86 | 86 | 86 |
|  30 Year<br> Female | Preferred Tob | 0% | 60 | 60 | 60 |
|  30 Year<br> Female | Standard Tob | 0% | 73 | 73 | 73 |

---

18408-00-00 53

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Accelerated Underwriting $100,000 - $249,999** | **Accelerated Underwriting $100,000 - $249,999** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-40** | **Ages 41-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 106 | 74 | 69 |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 115 | 80 | 77 |
|  10 Year<br> Male | Preferred Non-tob | 0% | 131 | 99 | 97 |
|  10 Year<br> Male | Standard Non-tob | 0% | 158 | 111 | 106 |
|  10 Year<br> Male | Preferred Tob | 0% | 121 | 82 | 76 |
|  10 Year<br> Male | Standard Tob | 0% | 149 | 98 | 90 |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 93 | 60 | 59 |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 99 | 67 | 65 |
|  10 Year<br> Female | Preferred Non-tob | 0% | 124 | 90 | 86 |
|  10 Year<br> Female | Standard Non-tob | 0% | 144 | 99 | 95 |
|  10 Year<br> Female | Preferred Tob | 0% | 108 | 86 | 80 |
|  10 Year<br> Female | Standard Tob | 0% | 131 | 99 | 95 |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 86 | 65 | 65 |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 94 | 71 | 71 |
|  15 Year<br> Male | Preferred Non-tob | 0% | 105 | 84 | 91 |
|  15 Year<br> Male | Standard Non-tob | 0% | 131 | 94 | 95 |
|  15 Year<br> Male | Preferred Tob | 0% | 95 | 76 | 74 |
|  15 Year<br> Male | Standard Tob | 0% | 123 | 90 | 88 |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 75 | 56 | 56 |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 80 | 58 | 61 |
|  15 Year<br> Female | Preferred Non-tob | 0% | 106 | 81 | 84 |
|  15 Year<br> Female | Standard Non-tob | 0% | 123 | 86 | 88 |
|  15 Year<br> Female | Preferred Tob | 0% | 87 | 78 | 77 |
|  15 Year<br> Female | Standard Tob | 0% | 114 | 91 | 91 |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 75 | 59 | 60 |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 85 | 69 | 72 |
|  20 Year<br> Male | Preferred Non-tob | 0% | 95 | 81 | 88 |
|  20 Year<br> Male | Standard Non-tob | 0% | 119 | 88 | 91 |
|  20 Year<br> Male | Preferred Tob | 0% | 94 | 74 | 73 |
|  20 Year<br> Male | Standard Tob | 0% | 121 | 88 | 86 |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 65 | 52 | 54 |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 71 | 62 | 66 |
|  20 Year<br> Female | Preferred Non-tob | 0% | 98 | 76 | 77 |
|  20 Year<br> Female | Standard Non-tob | 0% | 114 | 84 | 86 |
|  20 Year<br> Female | Preferred Tob | 0% | 86 | 76 | 74 |
|  20 Year<br> Female | Standard Tob | 0% | 114 | 86 | 86 |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 70 | 67 | 64 |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 75 | 73 | 70 |
|  30 Year<br> Male | Preferred Non-tob | 0% | 89 | 86 | 83 |
|  30 Year<br> Male | Standard Non-tob | 0% | 107 | 99 | 91 |
|  30 Year<br> Male | Preferred Tob | 0% | 84 | 79 | 74 |
|  30 Year<br> Male | Standard Tob | 0% | 105 | 97 | 88 |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 64 | 60 | 56 |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 68 | 66 | 63 |
|  30 Year<br> Female | Preferred Non-tob | 0% | 90 | 86 | 82 |
|  30 Year<br> Female | Standard Non-tob | 0% | 102 | 95 | 87 |
|  30 Year<br> Female | Preferred Tob | 0% | 83 | 81 | 78 |
|  30 Year<br> Female | Standard Tob | 0% | 102 | 96 | 90 |

---

18408-00-00 54

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Accelerated Underwriting $250,000 - $1,000,000** | **Accelerated Underwriting $250,000 - $1,000,000** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-40** | **Ages 41-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 93 | 70 | 65 |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 102 | 72 | 69 |
|  10 Year<br> Male | Preferred Non-tob | 0% | 111 | 89 | 87 |
|  10 Year<br> Male | Standard Non-tob | 0% | 137 | 103 | 98 |
|  10 Year<br> Male | Preferred Tob | 0% | 96 | 77 | 71 |
|  10 Year<br> Male | Standard Tob | 0% | 118 | 93 | 85 |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 87 | 60 | 59 |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 91 | 62 | 60 |
|  10 Year<br> Female | Preferred Non-tob | 0% | 110 | 81 | 78 |
|  10 Year<br> Female | Standard Non-tob | 0% | 126 | 89 | 86 |
|  10 Year<br> Female | Preferred Tob | 0% | 92 | 77 | 71 |
|  10 Year<br> Female | Standard Tob | 0% | 111 | 90 | 85 |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 76 | 60 | 61 |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 88 | 69 | 69 |
|  15 Year<br> Male | Preferred Non-tob | 0% | 95 | 74 | 80 |
|  15 Year<br> Male | Standard Non-tob | 0% | 111 | 88 | 90 |
|  15 Year<br> Male | Preferred Tob | 0% | 81 | 73 | 71 |
|  15 Year<br> Male | Standard Tob | 0% | 104 | 88 | 86 |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 65 | 56 | 56 |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 66 | 58 | 60 |
|  15 Year<br> Female | Preferred Non-tob | 0% | 87 | 72 | 75 |
|  15 Year<br> Female | Standard Non-tob | 0% | 101 | 84 | 84 |
|  15 Year<br> Female | Preferred Tob | 0% | 76 | 72 | 71 |
|  15 Year<br> Female | Standard Tob | 0% | 98 | 85 | 84 |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 69 | 57 | 58 |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 79 | 61 | 64 |
|  20 Year<br> Male | Preferred Non-tob | 0% | 87 | 71 | 78 |
|  20 Year<br> Male | Standard Non-tob | 0% | 102 | 88 | 91 |
|  20 Year<br> Male | Preferred Tob | 0% | 80 | 72 | 71 |
|  20 Year<br> Male | Standard Tob | 0% | 102 | 88 | 86 |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 59 | 50 | 51 |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 64 | 57 | 61 |
|  20 Year<br> Female | Preferred Non-tob | 0% | 84 | 77 | 78 |
|  20 Year<br> Female | Standard Non-tob | 0% | 96 | 81 | 83 |
|  20 Year<br> Female | Preferred Tob | 0% | 75 | 72 | 71 |
|  20 Year<br> Female | Standard Tob | 0% | 97 | 85 | 83 |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 65 | 64 | 62 |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 71 | 69 | 67 |
|  30 Year<br> Male | Preferred Non-tob | 0% | 83 | 81 | 78 |
|  30 Year<br> Male | Standard Non-tob | 0% | 94 | 91 | 88 |
|  30 Year<br> Male | Preferred Tob | 0% | 77 | 75 | 73 |
|  30 Year<br> Male | Standard Tob | 0% | 95 | 92 | 88 |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 60 | 58 | 56 |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 64 | 64 | 63 |
|  30 Year<br> Female | Preferred Non-tob | 0% | 79 | 79 | 78 |
|  30 Year<br> Female | Standard Non-tob | 0% | 91 | 88 | 84 |
|  30 Year<br> Female | Preferred Tob | 0% | 74 | 73 | 72 |
|  30 Year<br> Female | Standard Tob | 0% | 92 | 89 | 86 |

---

18408-00-00 55

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Accelerated Underwriting $1,000,001 - $3,000,000** | **Accelerated Underwriting $1,000,001 - $3,000,000** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All ages** | **Ages 18-40** | **Ages 41-50** | **Ages 51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 79 | 63 | 58 |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 88 | 66 | 62 |
|  10 Year<br> Male | Preferred Non-tob | 0% | 101 | 83 | 79 |
|  10 Year<br> Male | Standard Non-tob | 0% | 132 | 106 | 99 |
|  10 Year<br> Male | Preferred Tob | 0% | 94 | 77 | 71 |
|  10 Year<br> Male | Standard Tob | 0% | 113 | 94 | 86 |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 80 | 62 | 59 |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 83 | 64 | 60 |
|  10 Year<br> Female | Preferred Non-tob | 0% | 102 | 81 | 76 |
|  10 Year<br> Female | Standard Non-tob | 0% | 126 | 98 | 92 |
|  10 Year<br> Female | Preferred Tob | 0% | 90 | 78 | 72 |
|  10 Year<br> Female | Standard Tob | 0% | 108 | 94 | 86 |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 67 | 53 | 53 |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 75 | 60 | 60 |
|  15 Year<br> Male | Preferred Non-tob | 0% | 86 | 70 | 73 |
|  15 Year<br> Male | Standard Non-tob | 0% | 107 | 90 | 91 |
|  15 Year<br> Male | Preferred Tob | 0% | 77 | 72 | 71 |
|  15 Year<br> Male | Standard Tob | 0% | 95 | 86 | 84 |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 60 | 54 | 54 |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 65 | 57 | 58 |
|  15 Year<br> Female | Preferred Non-tob | 0% | 79 | 73 | 74 |
|  15 Year<br> Female | Standard Non-tob | 0% | 99 | 89 | 89 |
|  15 Year<br> Female | Preferred Tob | 0% | 73 | 72 | 71 |
|  15 Year<br> Female | Standard Tob | 0% | 92 | 85 | 84 |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 60 | 52 | 52 |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 69 | 57 | 58 |
|  20 Year<br> Male | Preferred Non-tob | 0% | 79 | 69 | 72 |
|  20 Year<br> Male | Standard Non-tob | 0% | 101 | 91 | 92 |
|  20 Year<br> Male | Preferred Tob | 0% | 74 | 71 | 71 |
|  20 Year<br> Male | Standard Tob | 0% | 93 | 86 | 84 |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 57 | 49 | 50 |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 61 | 58 | 59 |
|  20 Year<br> Female | Preferred Non-tob | 0% | 77 | 75 | 75 |
|  20 Year<br> Female | Standard Non-tob | 0% | 97 | 87 | 88 |
|  20 Year<br> Female | Preferred Tob | 0% | 72 | 71 | 70 |
|  20 Year<br> Female | Standard Tob | 0% | 91 | 84 | 83 |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 57 | 57 | 57 |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 63 | 63 | 63 |
|  30 Year<br> Male | Preferred Non-tob | 0% | 74 | 74 | 74 |
|  30 Year<br> Male | Standard Non-tob | 0% | 93 | 93 | 93 |
|  30 Year<br> Male | Preferred Tob | 0% | 72 | 72 | 72 |
|  30 Year<br> Male | Standard Tob | 0% | 88 | 88 | 88 |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 59 | 59 | 59 |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 63 | 63 | 63 |
|  30 Year<br> Female | Preferred Non-tob | 0% | 77 | 77 | 77 |
|  30 Year<br> Female | Standard Non-tob | 0% | 96 | 96 | 96 |
|  30 Year<br> Female | Preferred Tob | 0% | 71 | 71 | 71 |
|  30 Year<br> Female | Standard Tob | 0% | 86 | 86 | 86 |

---

18408-00-00 56

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**Exhibit C-1** 

**Post Level Period YRT Rates**: three hundred (300)% of the 2015 VBT ALB Select and Ultimate Gender and Smoker distinct table on a point-in-scale basis.

**Table Extra Premiums/Multiple Extra Premiums:** 

Excluding policies that qualify for the Expanded Standard Rate Class described below, the Reinsurer shall receive its proportionate share of any extra premiums payable due to additional mortality risk.

Table extra premiums are equal to 25% of the standard Non-Tobacco or standard Tobacco premium (whichever is appropriate) for each assessed table of extra mortality and assessed all years. The Multiple Extra Premium is developed by adding all Table Extra premiums to the standard basic reinsurance premium.

**Expanded Standard Rate Class:** 

The Company allows applicants with up to sixty-five (65) debits to be issued as standard cases for automatic business. The Company will pay the Reinsurer the standard class on those cases. Program does not apply to facultative business.

**Supplementary Rider(s):** 

For the Accelerated Death Benefit for Terminal Illness rider specified in Exhibit A which is reinsured on a YRT basis, there is no additional reinsurance premium.

In the event of an accelerated benefit claim, the Reinsurer will pay the Company its proportionate share of the net amount at risk of any eligible accelerated benefits in one lump sum. For Conversion Policies, the Reinsurer will not participate in any portion of the accelerated benefit payment that is offset by a reduction to the policy cash value. Payment of the Accelerated Death Benefit rider will reduce the policy's face amount and the reinsurance proportionately. Reinsurance coverage of the remaining portion of the policy's face amount will continue for as long as the policy remains in force, and the Company will continue to pay reinsurance premiums on the portion of the policy that remains inforce..

6. **Other Allowances:** 

**On Multiple Extra Premiums:** Not applicable

**On Supplementary Riders:** Not applicable

**On Flat Extra Premiums:**

The reinsurance premium remitted to the Reinsurer will include any flat extra premium minus the allowances shown below.

---

| | | |
|:---|:---|:---|
| **Type** | **First Year** | **Renewal** |
|  Temporary (1-5 years) | 20% | 20% |
|  Temporary (6+ years) | 100% | 20% |
|  Permanent | 100% | 20% |

---

18408-00-00 57

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**Exhibit C-1** 

7. **Policy Fee:** There is no policy fee applicable.

8. **Reinsured Net Amounts At Risk:** 

For term policies, the Reinsured Net Amount at Risk will be equal to the reinsured face amount. For Conversion Policies, the Reinsured Net Amount Risk will be based on the Reinsurer Share of the policy, as specified in Exhibit A, multiplied by the policy net amount at risk defined as face amount less cash value.

9. **Rate Basis:** 

The rates in this subsection are on a non-participating basis.

10. **Experience Monitoring:** 

Company agrees to periodically provide updated distribution, lapse, and mortality experience data upon request.

11. **YRT Rates For Conversions:** 

At the time of conversion, the Reinsurer will pay the Company a return of unearned premium of the policy to reflect the time period from the date of conversion to the next policy anniversary. The return of unearned premium will be based on the reinsurance premiums for the original policy. The Company will pay the Reinsurer a pro-rated premium for the time period from the date of the conversion until the next anniversary date of the original policy based on the YRT Rates For Conversion as defined herein. If the conversion occurs on a policy anniversary, no return of unearned premium and no pro-rated premium will be needed. Premiums for Conversion Policies on policy anniversaries on and after the date of conversion are based on the issue age and risk class of the original policy unless a risk class reconsideration has been applied. Conversion premiums will be assessed point-in-scale with duration measured from the issue date of the original policy. The YRT Rates For Conversion are described below.

The following percentages, which vary by original term plan, risk class, and duration at the time of conversion, are to be applied to the 2015 VBT ALB Select and Ultimate Gender and Smoker distinct table.

18408-00-00 58

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---

| | | | |
|:---|:---|:---|:---|
| **Conversions: All face amounts** | **Conversions: All face amounts** | **Conversions: All face amounts** | **Conversions: All face amounts** |
| **Term** | **Class** | **Conversion Duration** | **Rate** |
|  10 Year | Preferred best Non-tob | 1-5 | 75 |
|  10 Year | Super Preferred Non-tob | 1-5 | 80 |
|  10 Year | Preferred Non-tob | 1-5 | 100 |
|  10 Year | Standard Non-tob | 1-5 | 125 |
|  10 Year | Preferred Tob | 1-5 | 90 |
|  10 Year | Standard Tob | 1-5 | 110 |
|  10 Year | Preferred best Non-tob | 6-8 | 80 |
|  10 Year | Super Preferred Non-tob | 6-8 | 90 |
|  10 Year | Preferred Non-tob | 6-8 | 110 |
|  10 Year | Standard Non-tob | 6-8 | 135 |
|  10 Year | Preferred Tob | 6-8 | 105 |
|  10 Year | Standard Tob | 6-8 | 125 |
|  10 Year | Preferred best Non-tob | 9-10 | 100 |
|  10 Year | Super Preferred Non-tob | 9-10 | 130 |
|  10 Year | Preferred Non-tob | 9-10 | 145 |
|  10 Year | Standard Non-tob | 9-10 | 180 |
|  10 Year | Preferred Tob | 9-10 | 150 |
|  10 Year | Standard Tob | 9-10 | 175 |
|  15 Year | Preferred best Non-tob | 1-7 | 75 |
|  15 Year | Super Preferred Non-tob | 1-7 | 80 |
|  15 Year | Preferred Non-tob | 1-7 | 100 |
|  15 Year | Standard Non-tob | 1-7 | 125 |
|  15 Year | Preferred Tob | 1-7 | 90 |
|  15 Year | Standard Tob | 1-7 | 110 |
|  15 Year | Preferred best Non-tob | 8-12 | 80 |
|  15 Year | Super Preferred Non-tob | 8-12 | 90 |
|  15 Year | Preferred Non-tob | 8-12 | 110 |
|  15 Year | Standard Non-tob | 8-12 | 135 |
|  15 Year | Preferred Tob | 8-12 | 105 |
|  15 Year | Standard Tob | 8-12 | 125 |
|  15 Year | Preferred best Non-tob | 13-15 | 115 |
|  15 Year | Super Preferred Non-tob | 13-15 | 155 |
|  15 Year | Preferred Non-tob | 13-15 | 175 |
|  15 Year | Standard Non-tob | 13-15 | 210 |
|  15 Year | Preferred Tob | 13-15 | 175 |
|  15 Year | Standard Tob | 13-15 | 210 |

---

18408-00-00 59

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---

| | | | |
|:---|:---|:---|:---|
|  20 Year | Preferred best Non-tob | 1-9 | 75.0 |
|  20 Year | Super Preferred Non-tob | 1-9 | 80.0 |
|  20 Year | Preferred Non-tob | 1-9 | 100.0 |
|  20 Year | Standard Non-tob | 1-9 | 125.0 |
|  20 Year | Preferred Tob | 1-9 | 90.0 |
|  20 Year | Standard Tob | 1-9 | 110.0 |
|  20 Year | Preferred best Non-tob | 10-15 | 80.0 |
|  20 Year | Super Preferred Non-tob | 10-15 | 90.0 |
|  20 Year | Preferred Non-tob | 10-15 | 110.0 |
|  20 Year | Standard Non-tob | 10-15 | 135.0 |
|  20 Year | Preferred Tob | 10-15 | 105.0 |
|  20 Year | Standard Tob | 10-15 | 125.0 |
|  20 Year | Preferred best Non-tob | 16-20 | 135.0 |
|  20 Year | Super Preferred Non-tob | 16-20 | 185.0 |
|  20 Year | Preferred Non-tob | 16-20 | 215.0 |
|  20 Year | Standard Non-tob | 16-20 | 255.0 |
|  20 Year | Preferred Tob | 16-20 | 195.0 |
|  20 Year | Standard Tob | 16-20 | 240.0 |
|  30 Year | Preferred best Non-tob | 1-14 | 75.0 |
|  30 Year | Super Preferred Non-tob | 1-14 | 80.0 |
|  30 Year | Preferred Non-tob | 1-14 | 100.0 |
|  30 Year | Standard Non-tob | 1-14 | 125.0 |
|  30 Year | Preferred Tob | 1-14 | 90.0 |
|  30 Year | Standard Tob | 1-14 | 110.0 |
|  30 Year | Preferred best Non-tob | 15-25 | 80.0 |
|  30 Year | Super Preferred Non-tob | 15-25 | 90.0 |
|  30 Year | Preferred Non-tob | 15-25 | 110.0 |
|  30 Year | Standard Non-tob | 15-25 | 135.0 |
|  30 Year | Preferred Tob | 15-25 | 105.0 |
|  30 Year | Standard Tob | 15-25 | 125.0 |
|  30 Year | Preferred best Non-tob | 26-30 | 135.0 |
|  30 Year | Super Preferred Non-tob | 26-30 | 185.0 |
|  30 Year | Preferred Non-tob | 26-30 | 215.0 |
|  30 Year | Standard Non-tob | 26-30 | 255.0 |
|  30 Year | Preferred Tob | 26-30 | 195.0 |
|  30 Year | Standard Tob | 26-30 | 240.0 |

---

18408-00-00 60

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![LOGO](g95392dsp199.jpg)

2015 VBT FEMALE NONSMOKER ALB DurationIssue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.27 0.27 0.26 0.27 0.27 0.27 0.26 0.26 0.27 0.28 0.30 0.32 0.34 0.36 0.40 0.47 0.54 0.62 0.70 0.77 0.83 0.86 0.87 0.87 0.88 0.88 43 19 0.26 0.25 0.25 0.25 0.25 0.25 0.24 0.24 0.26 0.28 0.30 0.32 0.33 0.36 0.41 0.48 0.57 0.66 0.75 0.81 0.86 0.87 0.87 0.88 0.88 0.88 44 20 0.21 0.22 0.23 0.24 0.23 0.22 0.22 0.23 0.26 0.28 0.30 0.31 0.33 0.36 0.43 0.51 0.60 0.68 0.76 0.83 0.87 0.87 0.88 0.88 0.88 0.90 45 21 0.17 0.20 0.22 0.22 0.21 0.20 0.21 0.23 0.26 0.29 0.30 0.31 0.33 0.38 0.45 0.54 0.62 0.69 0.77 0.84 0.87 0.88 0.88 0.88 0.90 0.94 46 22 0.15 0.19 0.20 0.19 0.18 0.19 0.21 0.24 0.27 0.29 0.30 0.32 0.35 0.41 0.49 0.56 0.63 0.70 0.78 0.84 0.88 0.88 0.88 0.90 0.94 0.99 47 23 0.14 0.18 0.18 0.17 0.17 0.19 0.22 0.25 0.28 0.30 0.31 0.33 0.37 0.44 0.52 0.59 0.64 0.71 0.78 0.84 0.88 0.88 0.90 0.94 0.99 1.05 48 24 0.12 0.15 0.16 0.16 0.17 0.19 0.22 0.25 0.28 0.30 0.33 0.36 0.41 0.49 0.56 0.60 0.65 0.71 0.78 0.84 0.88 0.90 0.94 0.99 1.05 1.13 49 25 0.10 0.13 0.14 0.15 0.17 0.20 0.23 0.26 0.29 0.32 0.35 0.40 0.46 0.53 0.59 0.62 0.67 0.73 0.79 0.85 0.90 0.94 0.99 1.05 1.13 1.23 50 26 0.09 0.12 0.14 0.15 0.17 0.20 0.23 0.27 0.31 0.35 0.39 0.44 0.51 0.58 0.61 0.64 0.69 0.75 0.82 0.88 0.94 0.99 1.05 1.13 1.23 1.35 51 27 0.08 0.12 0.14 0.16 0.18 0.20 0.24 0.29 0.33 0.38 0.43 0.49 0.56 0.61 0.64 0.67 0.72 0.78 0.85 0.92 0.99 1.05 1.13 1.23 1.35 1.51 52 28 0.07 0.12 0.14 0.16 0.18 0.21 0.26 0.31 0.36 0.41 0.47 0.53 0.60 0.64 0.66 0.70 0.75 0.82 0.89 0.97 1.05 1.13 1.23 1.35 1.51 1.70 53 29 0.07 0.13 0.15 0.16 0.19 0.23 0.28 0.34 0.39 0.45 0.50 0.56 0.62 0.66 0.69 0.73 0.80 0.88 0.96 1.04 1.13 1.23 1.35 1.51 1.70 1.90 54 30 0.07 0.13 0.15 0.17 0.20 0.25 0.31 0.37 0.42 0.47 0.53 0.59 0.65 0.68 0.72 0.78 0.86 0.95 1.03 1.12 1.23 1.35 1.51 1.70 1.90 2.10 55 31 0.08 0.14 0.16 0.19 0.22 0.28 0.34 0.40 0.45 0.50 0.55 0.61 0.67 0.72 0.77 0.84 0.94 1.03 1.11 1.22 1.35 1.51 1.70 1.90 2.10 2.30 56 32 0.08 0.14 0.18 0.21 0.26 0.31 0.37 0.42 0.46 0.51 0.57 0.63 0.71 0.77 0.84 0.92 1.02 1.11 1.21 1.34 1.51 1.70 1.90 2.10 2.30 2.49 57 33 0.08 0.15 0.20 0.24 0.29 0.34 0.40 0.45 0.48 0.53 0.59 0.66 0.75 0.83 0.92 1.00 1.11 1.21 1.33 1.50 1.70 1.90 2.10 2.30 2.49 2.69 58 34 0.09 0.15 0.22 0.28 0.33 0.37 0.43 0.47 0.50 0.55 0.61 0.71 0.82 0.91 1.00 1.09 1.20 1.32 1.48 1.68 1.90 2.10 2.30 2.49 2.69 2.91 59 35 0.10 0.16 0.25 0.31 0.36 0.41 0.47 0.50 0.52 0.57 0.66 0.78 0.90 1.00 1.09 1.19 1.31 1.45 1.64 1.87 2.10 2.30 2.49 2.69 2.91 3.16 60 36 0.10 0.18 0.27 0.34 0.40 0.45 0.49 0.52 0.55 0.62 0.73 0.86 0.99 1.09 1.18 1.29 1.42 1.59 1.81 2.06 2.30 2.49 2.69 2.91 3.16 3.46 61 37 0.11 0.18 0.29 0.38 0.44 0.49 0.52 0.55 0.59 0.68 0.81 0.94 1.08 1.18 1.28 1.39 1.55 1.74 1.98 2.24 2.49 2.69 2.91 3.16 3.46 3.80 62 38 0.12 0.19 0.31 0.40 0.47 0.51 0.54 0.58 0.65 0.76 0.90 1.04 1.17 1.27 1.37 1.51 1.68 1.90 2.15 2.43 2.69 2.91 3.16 3.46 3.80 4.19 63 39 0.13 0.21 0.32 0.42 0.50 0.54 0.58 0.64 0.72 0.85 0.99 1.13 1.26 1.37 1.48 1.63 1.83 2.06 2.33 2.63 2.91 3.16 3.46 3.80 4.19 4.61 64 40 0.14 0.22 0.33 0.43 0.53 0.58 0.63 0.70 0.79 0.94 1.09 1.22 1.35 1.47 1.61 1.78 1.99 2.24 2.52 2.84 3.16 3.46 3.80 4.19 4.61 5.06 65 41 0.14 0.23 0.34 0.45 0.56 0.63 0.69 0.76 0.88 1.03 1.18 1.31 1.45 1.60 1.76 1.95 2.18 2.43 2.73 3.10 3.46 3.80 4.19 4.61 5.06 5.55 66 42 0.15 0.25 0.35 0.49 0.61 0.68 0.74 0.82 0.96 1.12 1.27 1.40 1.57 1.75 1.93 2.15 2.39 2.67 3.00 3.39 3.80 4.19 4.61 5.06 5.55 6.09 67 43 0.17 0.26 0.37 0.55 0.66 0.73 0.79 0.90 1.05 1.21 1.36 1.51 1.71 1.92 2.13 2.36 2.62 2.92 3.28 3.73 4.19 4.61 5.06 5.55 6.09 6.68 68 44 0.19 0.26 0.40 0.61 0.71 0.78 0.85 0.98 1.13 1.30 1.46 1.64 1.88 2.11 2.34 2.59 2.87 3.20 3.61 4.10 4.61 5.06 5.55 6.09 6.68 7.36 69 45 0.21 0.27 0.45 0.67 0.76 0.84 0.92 1.06 1.22 1.39 1.57 1.80 2.07 2.33 2.57 2.84 3.17 3.54 3.99 4.50 5.06 5.55 6.09 6.68 7.36 8.16 70 46 0.23 0.28 0.51 0.72 0.82 0.91 1.01 1.16 1.32 1.50 1.71 1.98 2.29 2.57 2.83 3.14 3.50 3.91 4.39 4.94 5.55 6.09 6.68 7.36 8.16 9.11 71 47 0.25 0.29 0.60 0.78 0.89 0.99 1.11 1.26 1.43 1.62 1.87 2.19 2.54 2.83 3.13 3.48 3.88 4.32 4.84 5.42 6.09 6.68 7.36 8.16 9.11 10.22 72 48 0.26 0.33 0.71 0.86 0.99 1.09 1.22 1.38 1.54 1.76 2.04 2.40 2.80 3.11 3.43 3.83 4.28 4.76 5.31 5.94 6.68 7.36 8.16 9.11 10.22 11.52 73 49 0.27 0.41 0.82 0.97 1.09 1.20 1.35 1.50 1.68 1.92 2.24 2.63 3.03 3.38 3.73 4.18 4.68 5.20 5.80 6.51 7.36 8.16 9.11 10.22 11.52 13.03 74 50 0.28 0.54 0.94 1.08 1.20 1.33 1.48 1.63 1.83 2.11 2.46 2.85 3.26 3.63 4.04 4.56 5.10 5.66 6.32 7.14 8.16 9.11 10.22 11.52 13.03 14.75 75 51 0.28 0.68 1.03 1.17 1.31 1.46 1.61 1.78 2.02 2.34 2.71 3.09 3.49 3.90 4.39 4.97 5.54 6.14 6.91 7.90 9.11 10.22 11.52 13.03 14.75 16.74 76 52 0.29 0.80 1.10 1.26 1.42 1.59 1.76 1.97 2.24 2.60 2.97 3.33 3.75 4.21 4.78 5.42 6.04 6.76 7.68 8.83 10.22 11.52 13.03 14.75 16.74 19.06 77 53 0.30 0.85 1.14 1.34 1.55 1.74 1.95 2.19 2.51 2.88 3.25 3.60 4.04 4.58 5.23 5.95 6.69 7.58 8.66 9.95 11.52 13.03 14.75 16.74 19.06 21.79 78 54 0.31 0.87 1.19 1.40 1.70 1.92 2.17 2.45 2.80 3.18 3.53 3.89 4.39 5.03 5.79 6.62 7.49 8.54 9.83 11.39 13.03 14.75 16.74 19.06 21.79 25.08 79 55 0.32 0.88 1.21 1.48 1.88 2.15 2.43 2.74 3.11 3.47 3.81 4.21 4.80 5.56 6.44 7.42 8.47 9.69 11.20 13.03 14.75 16.74 19.06 21.79 25.08 28.96 80 56 0.33 0.89 1.23 1.59 2.11 2.42 2.73 3.05 3.41 3.74 4.08 4.55 5.27 6.18 7.21 8.36 9.61 11.01 12.71 14.75 16.74 19.06 21.79 25.08 28.96 33.07 81 57 0.34 0.91 1.25 1.76 2.38 2.72 3.04 3.35 3.67 3.98 4.36 4.95 5.83 6.89 8.11 9.45 10.88 12.47 14.42 16.74 19.06 21.79 25.08 28.96 33.07 37.34 82 58 0.36 0.94 1.30 2.01 2.68 3.03 3.34 3.61 3.90 4.23 4.70 5.45 6.53 7.79 9.19 10.74 12.39 14.20 16.42 19.06 21.79 25.08 28.96 33.07 37.34 42.23 83 59 0.40 0.97 1.43 2.30 3.00 3.33 3.59 3.83 4.11 4.52 5.14 6.12 7.42 8.86 10.48 12.25 14.12 16.13 18.72 21.79 25.08 28.96 33.07 37.34 42.23 48.98 84 60 0.47 1.01 1.67 2.57 3.29 3.58 3.80 4.03 4.37 4.91 5.75 6.98 8.50 10.16 11.99 13.97 16.06 18.38 21.47 25.08 28.96 33.07 37.34 42.23 48.98 56.73 85 61 0.56 1.09 1.97 2.79 3.53 3.77 3.97 4.26 4.72 5.46 6.56 8.05 9.77 11.64 13.66 15.87 18.31 21.29 24.94 28.96 33.07 37.34 42.23 48.98 56.73 64.43 86 62 0.67 1.23 2.32 3.03 3.71 3.94 4.20 4.62 5.25 6.22 7.60 9.33 11.25 13.30 15.54 18.06 21.13 24.67 28.96 33.07 37.34 42.23 48.98 56.73 64.43 73.25 87 63 0.79 1.47 2.66 3.30 3.82 4.16 4.60 5.20 5.99 7.21 8.85 10.78 12.86 15.10 17.63 20.80 24.51 28.71 33.07 37.34 42.23 48.98 56.73 64.43 73.25 83.31 88 64 0.89 1.81 2.93 3.47 3.97 4.51 5.18 5.92 6.92 8.46 10.32 12.36 14.60 17.03 19.96 24.02 28.27 33.07 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 89 65 0.99 2.06 3.14 3.60 4.18 5.00 5.84 6.77 8.09 9.96 12.00 14.12 16.55 19.40 22.82 27.48 32.67 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 90 66 1.09 2.16 3.30 3.72 4.48 5.56 6.61 7.82 9.49 11.69 13.91 16.23 18.74 22.07 25.92 31.16 37.34 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 91 67 1.21 2.25 3.43 3.92 4.92 6.22 7.52 9.06 11.09 13.65 16.11 18.61 21.58 25.27 29.13 35.36 42.23 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 92 68 1.35 2.33 3.57 4.27 5.50 7.01 8.57 10.45 12.90 15.84 18.48 21.46 25.10 28.99 33.81 41.15 48.98 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 93 69 1.49 2.43 3.72 4.69 6.20 7.91 9.73 11.98 14.90 18.28 21.34 24.93 28.87 33.63 40.58 48.85 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 94

18408-00-00 61

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![LOGO](g95392dsp200.jpg)

2015 VBT FEMALE NONSMOKER ALB Duration Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 1.65 2.56 3.92 5.19 7.01 8.87 10.96 13.65 17.11 20.99 24.75 28.57 33.37 39.75 48.11 56.73 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 95 71 1.83 2.73 4.17 5.86 7.88 9.88 12.28 15.48 19.56 24.06 28.36 32.43 38.54 46.37 55.62 64.43 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 96 72 2.03 2.94 4.50 6.67 8.80 10.93 13.69 17.47 22.32 27.50 32.20 37.15 44.49 53.73 63.93 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 97 73 2.30 3.22 4.93 7.55 9.74 12.05 15.22 19.72 25.45 31.28 36.40 42.64 51.28 61.91 73.25 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 98 74 2.64 3.54 5.49 8.49 10.73 13.25 16.96 22.31 28.96 35.50 41.04 48.50 58.46 70.81 83.31 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 99 75 3.04 3.93 6.19 9.49 11.79 14.61 18.98 25.26 32.94 40.21 46.82 55.89 67.43 81.09 94.39 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 100 76 3.46 4.40 7.06 10.57 12.96 16.18 21.29 28.66 37.50 45.50 54.40 65.34 78.58 93.36 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 101 77 3.92 4.98 8.09 11.75 14.29 17.98 24.00 32.65 42.76 51.89 63.09 76.08 91.56 106.38 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 102 78 4.39 5.69 9.33 13.06 15.77 20.10 27.26 37.41 48.83 60.21 73.61 89.26 105.58 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 103 79 4.72 6.55 10.80 14.48 17.48 22.66 31.23 43.11 56.52 70.91 87.01 104.70 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 104 80 5.02 7.57 12.46 16.02 19.49 25.94 36.12 50.03 65.71 82.79 101.96 119.27 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 105 81 5.52 8.75 14.30 17.72 22.49 30.40 42.24 58.63 77.18 97.47 117.74 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 106 82 6.22 10.12 16.46 20.53 26.67 36.05 50.48 70.70 93.70 116.08 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 107 83 7.21 11.70 19.04 24.76 31.92 43.30 63.20 88.67 114.60 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 108 84 8.32 13.64 22.51 29.86 38.51 53.73 80.84 109.01 133.19 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 109 85 9.33 16.25 27.15 36.02 47.49 71.17 101.08 129.33 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 110 86 10.31 19.60 32.75 43.45 61.90 95.09 125.71 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 111 87 11.40 23.65 39.51 54.83 85.07 123.76 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 112 88 12.62 28.28 47.64 72.38 114.48 147.81 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 113 89 13.95 33.53 60.19 98.09 142.34 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 114 90 16.69 42.09 86.52 133.89 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 115 91 22.98 60.53 129.36 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 116 92 34.41 90.93 163.12 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 117 93 52.25 120.48 180.74 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 78.02 160.08 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 113.49 201.27 223.74 248.02 273.79 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

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![LOGO](g95392dsp201.jpg)

2015 VBT FEMALE SMOKER ALB DurationIssue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.27 0.27 0.26 0.27 0.27 0.30 0.33 0.33 0.34 0.34 0.36 0.38 0.41 0.44 0.47 0.57 0.69 0.79 0.94 1.09 1.23 1.34 1.44 1.53 1.62 1.71 43 19 0.26 0.25 0.25 0.25 0.28 0.31 0.32 0.33 0.34 0.36 0.38 0.41 0.44 0.47 0.57 0.68 0.79 0.93 1.08 1.22 1.34 1.44 1.53 1.62 1.71 1.82 44 20 0.21 0.22 0.23 0.25 0.29 0.31 0.31 0.33 0.36 0.38 0.41 0.44 0.47 0.57 0.68 0.79 0.92 1.06 1.20 1.33 1.44 1.53 1.62 1.71 1.82 1.96 45 21 0.18 0.20 0.23 0.27 0.29 0.30 0.31 0.34 0.38 0.40 0.44 0.47 0.57 0.68 0.78 0.92 1.05 1.18 1.31 1.43 1.53 1.62 1.71 1.82 1.96 2.15 46 22 0.18 0.21 0.24 0.26 0.28 0.30 0.33 0.37 0.40 0.43 0.47 0.57 0.68 0.78 0.92 1.04 1.17 1.30 1.41 1.52 1.62 1.71 1.82 1.96 2.15 2.35 47 23 0.19 0.21 0.23 0.25 0.28 0.31 0.35 0.40 0.43 0.47 0.55 0.68 0.78 0.91 1.04 1.16 1.28 1.40 1.50 1.61 1.71 1.82 1.96 2.15 2.35 2.58 48 24 0.20 0.21 0.23 0.26 0.29 0.33 0.38 0.43 0.47 0.54 0.66 0.77 0.91 1.03 1.15 1.27 1.39 1.49 1.59 1.70 1.82 1.96 2.15 2.35 2.58 2.84 49 25 0.19 0.20 0.23 0.27 0.31 0.36 0.41 0.46 0.52 0.63 0.75 0.88 1.02 1.14 1.26 1.37 1.48 1.58 1.69 1.80 1.96 2.15 2.35 2.58 2.84 3.13 50 26 0.18 0.20 0.24 0.29 0.34 0.39 0.44 0.51 0.60 0.72 0.85 1.00 1.14 1.26 1.36 1.47 1.58 1.68 1.80 1.95 2.15 2.35 2.58 2.84 3.13 3.45 51 27 0.18 0.21 0.26 0.31 0.36 0.42 0.48 0.57 0.68 0.81 0.96 1.11 1.25 1.36 1.46 1.57 1.68 1.79 1.92 2.14 2.35 2.58 2.84 3.13 3.45 3.80 52 28 0.18 0.22 0.28 0.33 0.39 0.46 0.54 0.64 0.77 0.92 1.07 1.22 1.35 1.45 1.55 1.66 1.79 1.92 2.09 2.34 2.58 2.84 3.13 3.45 3.80 4.18 53 29 0.19 0.24 0.30 0.36 0.43 0.51 0.61 0.73 0.87 1.02 1.17 1.30 1.43 1.53 1.64 1.76 1.91 2.09 2.30 2.57 2.84 3.13 3.45 3.80 4.18 4.61 54 30 0.20 0.25 0.32 0.40 0.48 0.58 0.69 0.82 0.97 1.12 1.25 1.38 1.51 1.62 1.73 1.89 2.09 2.29 2.54 2.82 3.13 3.45 3.80 4.18 4.61 5.09 55 31 0.21 0.27 0.35 0.44 0.54 0.65 0.78 0.91 1.05 1.20 1.33 1.46 1.60 1.72 1.86 2.06 2.29 2.53 2.81 3.10 3.45 3.80 4.18 4.61 5.09 5.64 56 32 0.22 0.30 0.40 0.50 0.61 0.74 0.87 1.00 1.13 1.28 1.41 1.54 1.70 1.85 2.04 2.27 2.52 2.80 3.07 3.41 3.80 4.18 4.61 5.09 5.64 6.26 57 33 0.24 0.33 0.45 0.57 0.69 0.82 0.95 1.07 1.20 1.35 1.49 1.64 1.84 2.03 2.24 2.50 2.78 3.07 3.38 3.76 4.18 4.61 5.09 5.64 6.26 6.95 58 34 0.26 0.37 0.51 0.65 0.77 0.90 1.02 1.14 1.27 1.43 1.58 1.79 2.02 2.24 2.48 2.76 3.06 3.37 3.74 4.16 4.61 5.09 5.64 6.26 6.95 7.71 59 35 0.29 0.42 0.57 0.72 0.85 0.97 1.09 1.21 1.35 1.51 1.75 1.99 2.23 2.48 2.74 3.05 3.37 3.73 4.16 4.61 5.09 5.64 6.26 6.95 7.71 8.56 60 36 0.32 0.46 0.63 0.79 0.91 1.03 1.15 1.28 1.42 1.70 1.98 2.19 2.46 2.73 3.02 3.36 3.73 4.15 4.60 5.09 5.64 6.26 6.95 7.71 8.56 9.51 61 37 0.35 0.51 0.69 0.85 0.98 1.10 1.22 1.36 1.62 1.95 2.18 2.42 2.71 3.02 3.34 3.72 4.14 4.60 5.09 5.64 6.26 6.95 7.71 8.56 9.51 10.55 62 38 0.38 0.55 0.75 0.91 1.04 1.17 1.30 1.55 1.87 2.15 2.40 2.67 3.00 3.34 3.71 4.13 4.59 5.09 5.64 6.26 6.95 7.71 8.56 9.51 10.55 11.68 63 39 0.41 0.59 0.80 0.97 1.11 1.25 1.47 1.78 2.06 2.37 2.65 2.95 3.32 3.70 4.10 4.59 5.09 5.64 6.25 6.94 7.71 8.56 9.51 10.55 11.68 12.92 64 40 0.43 0.62 0.84 1.04 1.19 1.38 1.68 1.97 2.27 2.61 2.93 3.27 3.67 4.10 4.54 5.08 5.63 6.25 6.93 7.70 8.56 9.51 10.55 11.68 12.92 14.26 65 41 0.44 0.65 0.90 1.11 1.29 1.56 1.85 2.17 2.51 2.88 3.24 3.62 4.07 4.54 5.02 5.63 6.25 6.93 7.69 8.54 9.51 10.55 11.68 12.92 14.26 15.70 66 42 0.46 0.68 0.95 1.20 1.42 1.72 2.04 2.39 2.77 3.19 3.59 4.01 4.50 4.99 5.56 6.24 6.92 7.68 8.53 9.48 10.55 11.68 12.92 14.26 15.70 17.23 67 43 0.47 0.71 1.03 1.32 1.57 1.89 2.25 2.65 3.07 3.53 3.97 4.43 4.94 5.51 6.16 6.92 7.67 8.51 9.46 10.50 11.68 12.92 14.26 15.70 17.23 18.84 68 44 0.49 0.76 1.12 1.46 1.73 2.10 2.49 2.93 3.40 3.91 4.39 4.85 5.43 6.10 6.83 7.66 8.50 9.45 10.50 11.65 12.92 14.26 15.70 17.23 18.84 20.57 69 45 0.51 0.82 1.23 1.61 1.92 2.32 2.76 3.24 3.76 4.32 4.81 5.33 6.02 6.77 7.57 8.48 9.44 10.49 11.64 12.86 14.26 15.70 17.23 18.84 20.57 22.49 70 46 0.55 0.89 1.35 1.78 2.12 2.57 3.06 3.60 4.17 4.73 5.27 5.91 6.68 7.51 8.40 9.41 10.48 11.63 12.85 14.14 15.70 17.23 18.84 20.57 22.49 24.48 71 47 0.58 0.97 1.48 1.97 2.36 2.85 3.40 3.99 4.57 5.19 5.85 6.56 7.41 8.34 9.33 10.44 11.62 12.84 14.12 15.57 17.23 18.84 20.57 22.49 24.48 26.55 72 48 0.62 1.05 1.63 2.18 2.62 3.17 3.77 4.37 5.01 5.76 6.49 7.27 8.22 9.24 10.33 11.55 12.84 14.12 15.49 17.08 18.84 20.57 22.49 24.48 26.55 28.81 73 49 0.67 1.14 1.79 2.41 2.91 3.52 4.15 4.81 5.57 6.40 7.20 8.04 9.09 10.21 11.40 12.73 14.12 15.48 17.00 18.64 20.57 22.49 24.48 26.55 28.81 31.28 74 50 0.72 1.25 1.97 2.67 3.24 3.90 4.58 5.34 6.19 7.12 7.98 8.90 10.05 11.28 12.57 13.99 15.48 16.99 18.62 20.30 22.49 24.48 26.55 28.81 31.28 34.03 75 51 0.77 1.36 2.17 2.96 3.61 4.32 5.09 5.95 6.89 7.93 8.87 9.91 11.13 12.46 13.85 15.38 16.97 18.60 20.29 22.13 24.48 26.55 28.81 31.28 34.03 37.08 76 52 0.83 1.49 2.40 3.28 4.03 4.81 5.68 6.62 7.68 8.83 9.87 11.06 12.33 13.77 15.30 16.92 18.59 20.28 22.10 24.08 26.55 28.81 31.28 34.03 37.08 40.46 77 53 0.90 1.63 2.64 3.64 4.49 5.37 6.33 7.39 8.56 9.83 10.99 12.29 13.69 15.23 16.88 18.57 20.27 22.07 24.05 26.30 28.81 31.28 34.03 37.08 40.46 44.19 78 54 0.97 1.79 2.91 4.04 5.02 6.00 7.08 8.25 9.55 10.94 12.25 13.64 15.20 16.84 18.56 20.26 22.04 24.02 26.24 28.75 31.28 34.03 37.08 40.46 44.19 48.74 79 55 1.06 1.97 3.22 4.49 5.62 6.71 7.92 9.22 10.64 12.16 13.62 15.13 16.82 18.54 20.25 22.01 23.99 26.21 28.62 31.28 34.03 37.08 40.46 44.19 48.74 54.43 80 56 1.15 2.17 3.56 5.00 6.31 7.53 8.87 10.30 11.85 13.50 15.07 16.69 18.47 20.24 21.97 23.97 26.18 28.57 31.11 34.03 37.08 40.46 44.19 48.74 54.43 61.02 81 57 1.24 2.39 3.95 5.58 7.10 8.45 9.92 11.49 13.17 14.93 16.59 18.28 20.10 21.94 23.84 26.08 28.52 31.06 33.85 37.08 40.46 44.19 48.74 54.43 61.02 68.45 82 58 1.36 2.64 4.38 6.24 7.99 9.48 11.09 12.79 14.59 16.46 18.20 19.94 21.87 23.79 25.90 28.35 31.02 33.82 36.91 40.46 44.19 48.74 54.43 61.02 68.45 76.39 83 59 1.48 2.92 4.89 7.00 8.99 10.62 12.37 14.19 16.11 18.06 19.88 21.76 23.71 25.82 28.20 30.89 33.79 36.87 40.28 44.19 48.74 54.43 61.02 68.45 76.39 84.02 84 60 1.62 3.25 5.46 7.85 10.11 11.88 13.76 15.70 17.71 19.73 21.70 23.60 25.67 28.10 30.76 33.67 36.82 40.19 44.02 48.74 54.43 61.02 68.45 76.39 84.02 93.23 85 61 1.78 3.62 6.10 8.81 11.36 13.26 15.26 17.30 19.37 21.54 23.48 25.46 27.90 30.63 33.51 36.63 40.11 43.90 48.66 54.43 61.02 68.45 76.39 84.02 93.23 104.03 86 62 1.96 4.03 6.84 9.90 12.74 14.76 16.86 18.97 21.19 23.31 25.26 27.65 30.40 33.32 36.38 39.80 43.74 48.50 54.43 61.02 68.45 76.39 84.02 93.23 104.03 114.61 87 63 2.16 4.50 7.67 11.12 14.23 16.36 18.54 20.78 22.95 25.05 27.36 30.17 32.88 35.91 39.21 43.25 48.25 54.32 61.02 68.45 76.39 84.02 93.23 104.03 114.61 125.99 88 64 2.38 5.01 8.60 12.48 15.83 18.05 20.34 22.55 24.67 27.23 29.89 32.74 35.19 38.41 42.21 47.54 53.88 61.02 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 89 65 2.62 5.58 9.64 13.99 17.52 19.83 22.12 24.24 26.82 29.78 32.60 35.13 37.55 41.31 46.13 53.01 60.71 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 90 66 2.88 6.19 10.82 15.66 19.28 21.61 23.80 26.36 29.38 32.46 35.07 37.43 40.78 45.62 52.06 60.09 68.45 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 91 67 3.16 6.86 12.15 17.52 21.09 23.31 25.91 28.96 32.08 35.00 37.32 40.64 45.53 51.89 59.82 68.13 76.39 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 92 68 3.48 7.58 13.64 19.56 22.80 25.40 28.54 31.68 34.55 37.20 40.50 45.44 51.72 59.56 67.80 75.95 84.02 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 93 69 3.81 8.36 15.31 21.79 24.85 28.04 31.24 34.02 36.83 40.40 45.35 51.55 59.29 67.48 75.51 83.75 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 94

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![LOGO](g95392dsp202.jpg)

Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 4.18 9.18 17.18 24.23 27.50 30.72 33.44 36.09 39.91 45.17 51.38 59.02 67.15 75.07 83.16 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 95 71 4.58 10.08 19.26 26.89 30.15 32.77 35.26 39.02 44.30 50.82 58.57 66.83 74.63 82.57 92.20 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 96 72 5.02 11.05 21.55 29.51 32.03 34.32 38.01 43.27 49.74 57.66 66.30 73.64 81.98 91.45 103.28 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 97 73 5.50 12.13 24.07 31.22 33.29 36.90 42.12 48.50 56.34 65.21 73.27 80.18 89.61 102.72 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 98 74 6.05 13.34 26.82 32.20 35.70 40.87 47.14 54.85 62.39 72.50 79.80 88.50 101.02 114.22 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 99 75 6.66 14.70 29.29 34.42 39.53 45.66 53.19 60.83 68.22 79.41 88.20 100.85 113.89 125.44 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 100 76 7.36 16.22 31.41 38.10 44.06 51.36 59.17 66.67 74.99 87.90 100.68 113.38 124.87 137.67 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 101 77 8.16 17.94 33.68 42.34 49.36 57.96 65.12 73.31 82.99 99.41 112.78 123.80 136.91 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 102 78 9.06 19.86 36.15 47.20 56.17 64.10 71.64 81.11 93.21 110.82 122.57 135.53 149.77 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 103 79 10.08 22.07 38.85 53.04 63.29 69.86 79.23 91.67 103.14 121.01 133.79 148.96 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 104 80 11.28 24.62 41.98 58.38 68.95 77.23 88.02 102.01 112.13 131.42 147.12 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 105 81 12.67 27.46 45.58 62.57 74.14 85.06 96.28 110.25 124.49 144.10 161.92 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 106 82 14.25 30.65 49.51 66.96 79.69 92.02 103.30 121.03 139.98 160.31 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 107 83 16.04 34.23 53.73 71.53 85.47 98.30 113.34 134.76 157.90 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 108 84 18.10 38.24 58.25 76.19 91.00 106.46 127.26 152.93 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 109 85 20.45 42.67 62.97 80.75 97.36 117.22 145.39 173.42 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 110 86 23.10 47.54 67.74 85.02 105.35 133.94 169.28 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 111 87 26.09 52.83 72.38 91.33 119.83 163.14 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 112 88 29.42 58.48 76.81 103.51 147.14 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 113 89 33.08 64.37 83.74 121.12 178.83 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 114 90 38.03 68.71 102.02 160.89 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 115 91 46.10 85.22 153.21 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 116 92 58.51 119.95 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 117 93 75.79 149.35 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 98.63 188.48 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 128.07 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

18408-00-00 64

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![LOGO](g95392dsp203.jpg)

Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.66 0.69 0.71 0.71 0.69 0.69 0.68 0.66 0.57 0.52 0.50 0.47 0.46 0.49 0.52 0.58 0.66 0.77 0.89 1.01 1.11 1.17 1.24 1.31 1.40 1.48 43 19 0.60 0.62 0.66 0.63 0.62 0.61 0.61 0.56 0.49 0.46 0.46 0.45 0.45 0.50 0.55 0.59 0.68 0.80 0.92 1.04 1.14 1.20 1.27 1.35 1.44 1.54 44 20 0.51 0.57 0.57 0.55 0.53 0.52 0.51 0.47 0.43 0.44 0.44 0.45 0.46 0.51 0.57 0.62 0.71 0.82 0.94 1.07 1.16 1.22 1.29 1.38 1.49 1.59 45 21 0.45 0.52 0.47 0.44 0.43 0.43 0.42 0.40 0.38 0.41 0.43 0.45 0.48 0.53 0.59 0.64 0.73 0.84 0.97 1.09 1.17 1.23 1.30 1.41 1.53 1.65 46 22 0.41 0.43 0.39 0.37 0.36 0.36 0.36 0.35 0.35 0.40 0.43 0.46 0.49 0.56 0.62 0.66 0.76 0.88 1.01 1.11 1.17 1.23 1.30 1.43 1.58 1.71 47 23 0.35 0.36 0.33 0.31 0.31 0.31 0.31 0.33 0.34 0.40 0.43 0.47 0.52 0.59 0.64 0.69 0.79 0.92 1.04 1.12 1.18 1.23 1.31 1.45 1.63 1.79 48 24 0.30 0.31 0.28 0.27 0.27 0.27 0.29 0.32 0.34 0.41 0.45 0.50 0.55 0.61 0.67 0.73 0.84 0.97 1.07 1.12 1.19 1.24 1.35 1.51 1.70 1.88 49 25 0.26 0.27 0.25 0.25 0.25 0.26 0.28 0.32 0.35 0.42 0.47 0.53 0.58 0.65 0.71 0.78 0.90 1.02 1.09 1.13 1.19 1.28 1.43 1.61 1.80 1.99 50 26 0.22 0.24 0.23 0.24 0.24 0.26 0.29 0.33 0.36 0.45 0.51 0.57 0.62 0.69 0.77 0.85 0.97 1.06 1.11 1.16 1.24 1.37 1.55 1.74 1.95 2.16 51 27 0.20 0.22 0.22 0.24 0.25 0.27 0.31 0.35 0.39 0.48 0.55 0.62 0.67 0.75 0.83 0.91 1.02 1.10 1.15 1.22 1.33 1.49 1.68 1.89 2.12 2.36 52 28 0.18 0.20 0.21 0.25 0.27 0.30 0.33 0.38 0.42 0.53 0.60 0.67 0.72 0.81 0.90 0.97 1.07 1.14 1.22 1.31 1.45 1.63 1.84 2.06 2.31 2.58 53 29 0.16 0.18 0.22 0.25 0.28 0.31 0.34 0.39 0.44 0.55 0.63 0.69 0.75 0.84 0.93 1.01 1.12 1.21 1.30 1.42 1.58 1.78 2.00 2.25 2.53 2.80 54 30 0.15 0.16 0.22 0.26 0.28 0.31 0.34 0.40 0.47 0.57 0.65 0.70 0.76 0.86 0.95 1.07 1.19 1.29 1.39 1.54 1.72 1.94 2.19 2.46 2.75 3.02 55 31 0.14 0.15 0.22 0.26 0.29 0.32 0.36 0.42 0.52 0.61 0.68 0.73 0.80 0.89 1.00 1.13 1.26 1.37 1.50 1.66 1.87 2.12 2.39 2.68 2.97 3.22 56 32 0.14 0.15 0.23 0.28 0.31 0.34 0.40 0.46 0.57 0.66 0.71 0.76 0.84 0.94 1.07 1.21 1.34 1.47 1.61 1.80 2.03 2.30 2.60 2.90 3.18 3.43 57 33 0.14 0.16 0.25 0.29 0.32 0.37 0.44 0.51 0.62 0.70 0.75 0.80 0.89 1.01 1.14 1.29 1.43 1.57 1.73 1.94 2.21 2.51 2.82 3.13 3.40 3.66 58 34 0.15 0.17 0.27 0.31 0.36 0.41 0.47 0.57 0.66 0.73 0.78 0.85 0.96 1.09 1.22 1.37 1.53 1.68 1.87 2.11 2.41 2.74 3.06 3.36 3.64 3.93 59 35 0.15 0.18 0.29 0.34 0.40 0.45 0.51 0.62 0.70 0.76 0.83 0.92 1.04 1.17 1.31 1.47 1.63 1.80 2.02 2.30 2.64 2.99 3.32 3.62 3.92 4.28 60 36 0.15 0.20 0.31 0.38 0.44 0.49 0.57 0.67 0.74 0.81 0.90 1.00 1.13 1.27 1.42 1.58 1.75 1.95 2.21 2.53 2.91 3.27 3.61 3.92 4.28 4.74 61 37 0.15 0.21 0.34 0.41 0.48 0.54 0.63 0.71 0.78 0.88 0.99 1.10 1.23 1.38 1.53 1.70 1.90 2.13 2.44 2.81 3.21 3.58 3.92 4.28 4.72 5.27 62 38 0.15 0.24 0.37 0.44 0.51 0.60 0.68 0.76 0.85 0.97 1.09 1.21 1.35 1.51 1.67 1.85 2.08 2.36 2.72 3.14 3.55 3.91 4.28 4.70 5.24 5.88 63 39 0.16 0.28 0.41 0.49 0.56 0.65 0.73 0.82 0.93 1.07 1.19 1.32 1.48 1.65 1.82 2.03 2.30 2.64 3.06 3.50 3.90 4.28 4.68 5.18 5.84 6.54 64 40 0.18 0.33 0.45 0.53 0.62 0.70 0.78 0.88 1.02 1.17 1.30 1.44 1.62 1.81 2.01 2.26 2.58 2.99 3.44 3.88 4.28 4.68 5.12 5.76 6.48 7.25 65 41 0.21 0.37 0.49 0.57 0.67 0.75 0.84 0.96 1.11 1.27 1.42 1.57 1.78 2.00 2.22 2.52 2.92 3.38 3.85 4.28 4.67 5.09 5.64 6.37 7.15 8.02 66 42 0.24 0.41 0.52 0.62 0.72 0.79 0.89 1.04 1.21 1.38 1.53 1.71 1.95 2.20 2.47 2.83 3.30 3.80 4.27 4.67 5.07 5.56 6.22 7.01 7.88 8.86 67 43 0.29 0.44 0.56 0.68 0.76 0.84 0.96 1.13 1.31 1.48 1.65 1.87 2.15 2.43 2.75 3.18 3.71 4.22 4.67 5.05 5.50 6.12 6.89 7.77 8.72 9.79 68 44 0.33 0.47 0.60 0.74 0.81 0.90 1.05 1.23 1.41 1.59 1.80 2.06 2.37 2.69 3.06 3.55 4.12 4.64 5.05 5.48 6.00 6.78 7.68 8.65 9.69 10.88 69 45 0.38 0.50 0.65 0.80 0.87 0.99 1.16 1.35 1.53 1.73 1.98 2.27 2.61 2.97 3.40 3.94 4.53 5.03 5.48 5.98 6.61 7.58 8.58 9.65 10.82 12.16 70 46 0.43 0.52 0.71 0.86 0.95 1.10 1.30 1.48 1.66 1.89 2.19 2.52 2.88 3.26 3.74 4.33 4.95 5.46 5.95 6.52 7.34 8.50 9.60 10.79 12.14 13.69 71 47 0.47 0.55 0.77 0.94 1.05 1.24 1.45 1.62 1.81 2.10 2.44 2.78 3.15 3.58 4.10 4.74 5.39 5.94 6.48 7.18 8.22 9.57 10.77 12.12 13.65 15.48 72 48 0.50 0.58 0.84 1.02 1.18 1.40 1.60 1.77 2.00 2.35 2.72 3.06 3.44 3.90 4.48 5.17 5.85 6.44 7.09 7.97 9.23 10.74 12.10 13.62 15.40 17.55 73 49 0.52 0.64 0.92 1.11 1.32 1.56 1.74 1.92 2.22 2.63 3.01 3.34 3.73 4.24 4.88 5.63 6.35 7.00 7.79 8.87 10.36 11.99 13.56 15.37 17.43 19.89 74 50 0.52 0.72 1.01 1.22 1.48 1.70 1.87 2.09 2.47 2.94 3.31 3.65 4.05 4.63 5.34 6.14 6.91 7.65 8.62 9.91 11.56 13.30 15.14 17.29 19.72 22.48 75 51 0.53 0.82 1.12 1.35 1.63 1.82 1.99 2.29 2.76 3.26 3.62 4.01 4.43 5.10 5.90 6.75 7.57 8.44 9.61 11.11 12.91 14.77 16.86 19.35 22.18 25.32 76 52 0.53 0.93 1.24 1.51 1.77 1.94 2.15 2.52 3.07 3.60 3.97 4.39 4.90 5.70 6.58 7.50 8.40 9.50 10.80 12.49 14.45 16.50 18.85 21.68 24.89 28.46 77 53 0.54 1.04 1.38 1.71 1.92 2.09 2.35 2.80 3.42 3.95 4.36 4.83 5.52 6.45 7.42 8.39 9.47 10.74 12.24 14.10 16.20 18.63 21.40 24.58 28.04 31.99 78 54 0.54 1.13 1.54 1.88 2.06 2.24 2.58 3.15 3.80 4.34 4.80 5.41 6.32 7.37 8.38 9.45 10.68 12.12 13.94 16.02 18.34 21.22 24.42 27.96 31.81 36.04 79 55 0.59 1.19 1.71 2.03 2.21 2.44 2.88 3.56 4.22 4.79 5.37 6.18 7.25 8.36 9.43 10.64 12.05 13.79 15.91 18.27 20.96 24.22 27.81 31.77 36.04 40.76 80 56 0.70 1.24 1.88 2.19 2.40 2.70 3.28 4.01 4.67 5.31 6.06 7.09 8.29 9.41 10.57 11.98 13.70 15.74 18.14 20.81 23.88 27.50 31.68 36.04 40.76 46.15 81 57 0.85 1.28 2.04 2.37 2.64 3.03 3.75 4.50 5.17 5.92 6.87 8.09 9.37 10.55 11.87 13.53 15.61 17.97 20.66 23.68 27.24 31.37 35.97 40.76 46.15 52.27 82 58 1.05 1.35 2.17 2.57 2.87 3.44 4.25 5.00 5.71 6.63 7.78 9.13 10.50 11.86 13.38 15.33 17.81 20.50 23.47 26.82 30.96 35.72 40.76 46.15 52.27 59.31 83 59 1.26 1.46 2.27 2.72 3.13 3.90 4.74 5.49 6.31 7.42 8.78 10.25 11.74 13.26 15.02 17.36 20.25 23.31 26.65 30.56 35.26 40.57 46.15 52.27 59.31 67.48 84 60 1.44 1.62 2.38 2.82 3.45 4.35 5.20 5.99 6.96 8.28 9.82 11.41 13.00 14.70 16.83 19.62 22.94 26.42 30.30 34.87 40.24 46.15 52.27 59.31 67.48 76.96 85 61 1.56 1.84 2.50 2.98 3.82 4.79 5.64 6.52 7.68 9.19 10.84 12.52 14.25 16.26 18.85 22.11 25.88 29.90 34.52 39.81 45.87 52.27 59.31 67.48 76.96 87.87 86 62 1.63 2.12 2.68 3.24 4.24 5.22 6.09 7.10 8.46 10.14 11.89 13.68 15.62 18.03 21.10 24.84 29.11 33.74 39.19 45.28 52.27 59.31 67.48 76.96 87.87 100.29 87 63 1.69 2.41 2.95 3.62 4.72 5.67 6.60 7.77 9.33 11.17 13.00 14.90 17.15 19.98 23.52 27.83 32.83 38.39 44.71 51.75 59.31 67.48 76.96 87.87 100.29 114.02 88 64 1.76 2.72 3.29 4.09 5.26 6.18 7.19 8.55 10.31 12.31 14.24 16.29 18.88 22.14 26.13 31.12 37.06 43.66 51.18 59.31 67.48 76.96 87.87 100.29 114.02 128.76 89 65 1.83 3.05 3.72 4.62 5.89 6.78 7.91 9.46 11.43 13.65 15.73 17.99 20.97 24.66 29.12 35.10 42.41 50.14 58.75 67.48 76.96 87.87 100.29 114.02 128.76 144.17 90 66 1.93 3.35 4.19 5.22 6.60 7.50 8.77 10.52 12.74 15.26 17.63 20.20 23.61 27.79 32.76 39.79 48.73 57.78 67.48 76.96 87.87 100.29 114.02 128.76 144.17 159.79 91 67 2.06 3.63 4.71 5.90 7.30 8.35 9.77 11.75 14.30 17.24 20.04 23.21 26.96 31.69 37.24 45.32 55.69 65.94 76.96 87.87 100.29 114.02 128.76 144.17 159.79 175.30 92 68 2.23 3.92 5.27 6.66 8.07 9.32 10.91 13.18 16.32 19.68 23.08 26.87 31.15 36.68 42.96 52.22 63.81 75.42 87.87 100.29 114.02 128.76 144.17 159.79 175.30 190.25 93 69 2.41 4.19 5.85 7.45 8.93 10.28 12.11 15.04 18.54 22.38 26.71 30.99 36.46 42.86 50.84 60.94 74.06 87.04 100.29 114.02 128.76 144.17 159.79 175.30 190.25 203.94 94

18408-00-00 65

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![LOGO](g95392dsp204.jpg)

Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 2.59 4.41 6.38 8.21 9.69 11.24 13.60 17.08 20.74 25.22 30.76 36.30 42.68 50.52 59.16 70.86 85.79 100.29 114.02 128.76 144.17 159.79 175.30 190.25 203.94 218.45 95 71 2.78 4.62 6.93 8.99 10.50 12.56 15.41 19.04 23.33 28.87 35.82 42.56 50.11 58.75 67.43 81.45 98.11 114.02 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 96 72 3.01 4.90 7.55 9.90 11.75 14.28 17.40 21.36 26.78 33.59 42.11 49.94 58.42 67.28 79.18 95.56 112.86 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 97 73 3.30 5.31 8.37 11.07 13.39 16.27 19.90 24.45 31.08 39.19 49.69 58.35 67.20 78.00 93.41 111.93 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 98 74 3.65 5.86 9.37 12.50 15.22 18.66 22.99 28.34 36.22 45.73 58.19 67.13 77.53 91.65 108.77 127.96 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 99 75 3.99 6.42 10.44 14.17 17.42 21.52 26.60 32.99 42.24 53.01 66.84 77.14 90.91 107.84 126.69 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 100 76 4.24 6.83 11.26 15.64 19.59 24.28 30.18 38.43 48.97 60.81 76.46 89.99 107.32 126.31 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 101 77 4.42 7.13 11.91 16.91 21.46 27.05 33.75 44.56 56.24 69.32 88.55 105.91 125.47 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 102 78 4.61 7.47 12.67 18.28 23.43 29.97 37.78 50.32 63.25 78.93 102.53 122.95 143.48 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 103 79 4.78 7.80 13.45 19.74 25.52 32.60 41.98 55.30 70.08 89.81 118.04 141.66 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 104 80 5.07 8.34 14.72 21.90 28.33 36.23 47.46 61.70 80.04 104.19 135.37 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 105 81 5.54 9.21 16.68 25.02 32.42 41.40 55.05 72.28 94.85 125.34 155.65 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 106 82 6.24 10.50 19.46 29.31 38.22 48.80 65.69 88.25 117.04 152.45 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 107 83 7.27 12.50 23.82 36.00 47.19 61.04 82.30 113.08 148.82 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 108 84 8.57 15.11 29.54 44.82 59.35 78.13 105.78 140.92 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 109 85 10.25 18.42 36.78 56.17 75.65 100.97 133.91 167.51 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 110 86 12.32 22.63 46.13 71.55 97.66 129.69 165.42 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 111 87 14.55 27.50 57.18 90.24 124.30 163.40 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 112 88 16.83 32.62 69.54 111.42 153.75 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 113 89 19.34 38.13 83.50 136.22 182.90 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 114 90 23.37 52.47 113.46 172.67 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 115 91 31.59 79.88 165.78 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 116 92 46.10 117.11 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 117 93 68.04 150.88 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 98.17 192.89 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 137.03 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

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![LOGO](g95392dsp205.jpg)

Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.67 0.70 0.72 0.75 0.78 0.80 0.83 0.85 0.84 0.83 0.82 0.82 0.84 0.88 0.95 1.02 1.10 1.19 1.30 1.42 1.58 1.79 2.01 2.24 2.46 2.65 43 19 0.64 0.66 0.69 0.71 0.73 0.76 0.78 0.78 0.78 0.78 0.78 0.80 0.85 0.91 0.98 1.06 1.15 1.25 1.40 1.57 1.77 2.00 2.23 2.44 2.63 2.79 44 20 0.60 0.63 0.65 0.67 0.69 0.71 0.73 0.73 0.73 0.74 0.76 0.81 0.87 0.95 1.03 1.11 1.21 1.37 1.56 1.76 1.98 2.21 2.43 2.61 2.77 2.94 45 21 0.56 0.58 0.60 0.62 0.64 0.67 0.68 0.68 0.70 0.72 0.77 0.84 0.91 0.99 1.08 1.17 1.34 1.54 1.74 1.96 2.20 2.41 2.60 2.75 2.92 3.13 46 22 0.52 0.53 0.54 0.58 0.61 0.63 0.64 0.65 0.69 0.74 0.80 0.87 0.95 1.04 1.14 1.31 1.52 1.72 1.94 2.18 2.40 2.58 2.74 2.91 3.12 3.34 47 23 0.48 0.49 0.51 0.55 0.58 0.59 0.61 0.65 0.70 0.76 0.84 0.91 1.00 1.10 1.28 1.50 1.69 1.91 2.15 2.38 2.57 2.72 2.89 3.10 3.33 3.57 48 24 0.44 0.47 0.49 0.52 0.55 0.57 0.61 0.66 0.73 0.80 0.88 0.96 1.06 1.23 1.46 1.66 1.88 2.12 2.35 2.55 2.71 2.89 3.09 3.32 3.56 3.83 49 25 0.41 0.45 0.47 0.50 0.53 0.57 0.63 0.69 0.77 0.85 0.93 1.02 1.17 1.41 1.62 1.85 2.09 2.32 2.53 2.70 2.88 3.09 3.31 3.56 3.83 4.13 50 26 0.37 0.43 0.46 0.49 0.53 0.59 0.66 0.73 0.81 0.90 0.99 1.10 1.33 1.56 1.80 2.04 2.28 2.50 2.68 2.88 3.09 3.31 3.55 3.82 4.13 4.47 51 27 0.34 0.41 0.45 0.49 0.55 0.62 0.70 0.78 0.87 0.97 1.07 1.22 1.48 1.73 1.98 2.22 2.45 2.65 2.86 3.08 3.30 3.55 3.82 4.12 4.47 4.86 52 28 0.32 0.40 0.47 0.52 0.60 0.67 0.75 0.83 0.93 1.04 1.18 1.35 1.63 1.90 2.14 2.37 2.59 2.81 3.07 3.30 3.54 3.81 4.12 4.46 4.85 5.28 53 29 0.31 0.42 0.51 0.58 0.66 0.74 0.81 0.90 1.01 1.15 1.31 1.50 1.78 2.04 2.26 2.49 2.74 3.01 3.29 3.54 3.81 4.11 4.46 4.85 5.28 5.77 54 30 0.31 0.44 0.56 0.65 0.73 0.81 0.88 0.97 1.11 1.28 1.45 1.64 1.91 2.15 2.37 2.62 2.93 3.23 3.53 3.80 4.11 4.45 4.84 5.28 5.76 6.32 55 31 0.32 0.47 0.61 0.71 0.80 0.87 0.95 1.06 1.23 1.42 1.60 1.77 2.03 2.26 2.50 2.81 3.15 3.47 3.80 4.10 4.45 4.84 5.27 5.76 6.31 6.94 56 32 0.33 0.50 0.66 0.77 0.87 0.94 1.03 1.18 1.36 1.56 1.74 1.90 2.14 2.39 2.68 3.02 3.39 3.73 4.10 4.44 4.83 5.27 5.75 6.30 6.93 7.65 57 33 0.33 0.52 0.70 0.81 0.92 1.02 1.13 1.31 1.50 1.70 1.83 2.01 2.27 2.57 2.88 3.25 3.65 4.04 4.44 4.83 5.26 5.75 6.29 6.92 7.64 8.46 58 34 0.34 0.54 0.74 0.85 0.97 1.10 1.24 1.44 1.63 1.79 1.91 2.15 2.45 2.77 3.11 3.52 3.96 4.38 4.82 5.26 5.74 6.29 6.91 7.64 8.46 9.39 59 35 0.35 0.56 0.78 0.89 1.03 1.19 1.37 1.56 1.72 1.85 2.05 2.33 2.65 3.00 3.37 3.82 4.30 4.76 5.25 5.73 6.28 6.90 7.63 8.45 9.38 10.45 60 36 0.37 0.59 0.84 0.96 1.12 1.30 1.49 1.65 1.76 1.97 2.24 2.53 2.88 3.26 3.67 4.16 4.68 5.18 5.73 6.27 6.89 7.62 8.45 9.38 10.45 11.66 61 37 0.39 0.64 0.91 1.06 1.23 1.41 1.58 1.69 1.87 2.16 2.45 2.76 3.15 3.57 4.02 4.54 5.11 5.66 6.26 6.88 7.62 8.44 9.37 10.44 11.66 13.03 62 38 0.42 0.70 1.00 1.16 1.33 1.50 1.63 1.80 2.07 2.38 2.69 3.03 3.46 3.92 4.41 4.98 5.59 6.19 6.87 7.61 8.44 9.37 10.44 11.66 13.03 14.53 63 39 0.46 0.77 1.09 1.26 1.43 1.56 1.74 2.00 2.30 2.63 2.97 3.35 3.82 4.33 4.87 5.48 6.13 6.79 7.60 8.43 9.36 10.44 11.66 13.02 14.52 16.18 64 40 0.51 0.85 1.18 1.35 1.50 1.68 1.94 2.23 2.55 2.91 3.29 3.71 4.23 4.80 5.39 6.04 6.73 7.56 8.43 9.36 10.44 11.65 13.02 14.52 16.17 17.98 65 41 0.56 0.93 1.25 1.44 1.62 1.88 2.18 2.49 2.83 3.23 3.64 4.12 4.71 5.33 5.97 6.66 7.53 8.43 9.36 10.43 11.65 13.02 14.51 16.16 17.97 19.89 66 42 0.61 1.01 1.32 1.54 1.80 2.10 2.43 2.78 3.15 3.58 4.05 4.59 5.25 5.93 6.62 7.45 8.42 9.35 10.43 11.65 13.02 14.51 16.14 17.97 19.89 21.90 67 43 0.66 1.08 1.41 1.69 2.00 2.35 2.72 3.09 3.50 3.98 4.51 5.12 5.85 6.60 7.39 8.37 9.35 10.43 11.65 13.02 14.51 16.13 17.96 19.89 21.89 24.05 68 44 0.70 1.16 1.53 1.86 2.23 2.63 3.03 3.43 3.88 4.44 5.04 5.73 6.55 7.37 8.28 9.34 10.43 11.65 13.02 14.50 16.12 17.95 19.88 21.89 24.03 26.41 69 45 0.75 1.25 1.67 2.06 2.49 2.93 3.36 3.81 4.32 4.95 5.64 6.43 7.33 8.25 9.27 10.42 11.65 13.02 14.50 16.11 17.94 19.88 21.88 24.02 26.37 29.08 70 46 0.82 1.36 1.82 2.29 2.78 3.27 3.73 4.22 4.81 5.54 6.33 7.27 8.23 9.26 10.39 11.64 13.02 14.49 16.09 17.93 19.88 21.88 24.01 26.33 29.02 32.11 71 47 0.89 1.48 2.01 2.56 3.11 3.63 4.13 4.68 5.36 6.21 7.22 8.22 9.25 10.39 11.64 13.02 14.49 16.08 17.92 19.88 21.87 24.00 26.29 28.96 32.06 35.47 72 48 0.97 1.61 2.24 2.88 3.49 4.03 4.58 5.20 5.99 7.15 8.22 9.23 10.39 11.64 13.02 14.49 16.07 17.91 19.87 21.87 23.98 26.24 28.90 32.00 35.44 39.08 73 49 1.06 1.76 2.50 3.26 3.90 4.48 5.07 5.79 7.03 8.22 9.21 10.36 11.64 13.02 14.48 16.06 17.90 19.87 21.87 23.97 26.20 28.84 31.94 35.40 39.02 42.83 74 50 1.16 1.93 2.81 3.69 4.38 4.97 5.69 6.84 8.21 9.20 10.33 11.61 13.02 14.48 16.04 17.89 19.87 21.86 23.91 26.16 28.77 31.88 35.37 38.96 42.76 46.60 75 51 1.27 2.13 3.18 4.20 4.91 5.61 6.73 8.07 9.18 10.30 11.59 13.00 14.48 16.03 17.87 19.87 21.85 23.84 26.06 28.71 31.82 35.33 38.90 42.70 46.52 50.33 76 52 1.40 2.34 3.61 4.79 5.55 6.59 7.89 9.09 10.27 11.56 12.97 14.46 16.02 17.86 19.83 21.84 23.77 25.97 28.65 31.76 35.30 38.84 42.64 46.44 50.15 54.04 77 53 1.54 2.59 4.11 5.47 6.42 7.67 8.90 10.24 11.54 12.95 14.44 16.01 17.84 19.80 21.81 23.70 25.87 28.59 31.71 35.26 38.78 42.57 46.37 49.97 53.79 57.84 78 54 1.70 2.88 4.69 6.24 7.40 8.66 10.03 11.51 12.93 14.43 15.99 17.82 19.77 21.78 23.64 25.78 28.53 31.65 35.23 38.72 42.51 46.29 49.80 53.54 57.69 61.88 79 55 1.88 3.21 5.35 7.10 8.38 9.77 11.28 12.91 14.41 15.98 17.81 19.74 21.75 23.57 25.68 28.46 31.59 35.19 38.65 42.44 46.21 49.62 53.29 57.54 61.88 66.27 80 56 2.08 3.58 6.09 8.06 9.46 10.98 12.63 14.40 15.97 17.79 19.71 21.72 23.50 25.59 28.40 31.53 35.16 38.59 42.38 46.13 49.44 53.04 57.36 61.88 66.27 70.94 81 57 2.31 4.00 6.88 9.10 10.62 12.28 14.07 15.96 17.78 19.68 21.69 23.43 25.49 28.34 31.47 35.12 38.53 42.32 46.05 49.26 52.80 57.17 61.83 66.27 70.94 76.84 82 58 2.56 4.48 7.73 10.22 11.86 13.64 15.55 17.54 19.64 21.66 23.36 25.39 28.28 31.41 35.09 38.47 42.25 45.98 49.08 52.55 56.99 61.77 66.27 70.94 76.84 84.42 83 59 2.84 5.01 8.61 11.39 13.15 15.04 17.05 19.15 21.39 23.30 25.30 28.22 31.36 35.05 38.41 42.19 45.90 48.90 52.30 56.80 61.72 66.25 70.94 76.84 84.42 93.03 84 60 3.15 5.60 9.51 12.60 14.46 16.45 18.38 20.60 22.99 25.20 28.15 31.30 35.02 38.35 42.12 45.82 48.73 52.05 56.61 61.66 66.18 70.94 76.84 84.42 93.03 102.79 85 61 3.49 6.24 10.42 13.81 15.77 17.67 19.42 21.73 24.27 27.32 30.47 33.79 38.29 42.06 45.74 48.55 51.80 56.43 61.60 66.15 70.89 76.84 84.42 93.03 102.79 113.76 86 62 3.86 6.92 11.32 15.00 17.07 18.93 20.41 22.62 25.35 28.62 31.93 35.34 40.13 45.67 48.37 51.55 56.24 61.54 66.01 70.72 76.84 84.42 93.03 102.79 113.76 125.86 87 63 4.25 7.63 12.20 16.17 18.41 20.14 21.64 23.98 27.08 30.10 33.42 36.73 41.46 48.19 51.30 56.06 61.48 65.88 70.48 76.67 84.42 93.03 102.79 113.76 125.86 138.82 88 64 4.66 8.34 13.06 17.36 19.69 21.40 23.42 26.22 29.27 32.51 35.73 38.74 43.44 51.06 55.87 61.42 65.75 70.24 76.42 84.42 93.03 102.79 113.76 125.86 138.82 152.25 89 65 5.08 9.06 13.93 18.63 21.15 23.25 25.73 28.67 31.66 35.56 38.46 42.12 46.02 53.88 60.63 65.62 70.00 76.23 84.29 93.03 102.79 113.76 125.86 138.82 152.25 165.84 90 66 5.51 9.79 14.86 20.07 23.03 25.50 28.29 31.33 34.64 38.29 41.73 45.61 48.85 57.07 64.20 69.76 76.06 84.08 93.03 102.79 113.76 125.86 138.82 152.25 165.84 179.17 91 67 5.97 10.57 15.89 21.79 25.24 28.06 31.11 34.31 37.66 41.34 45.19 48.66 54.15 60.88 68.54 75.16 83.90 92.63 102.79 113.76 125.86 138.82 152.25 165.84 179.17 192.04 92 68 6.46 11.42 17.10 23.84 27.76 30.86 34.09 37.34 40.69 44.78 48.48 53.70 60.13 65.52 74.23 82.31 92.30 102.19 113.76 125.86 138.82 152.25 165.84 179.17 192.04 204.12 93 69 7.01 12.38 18.50 26.20 30.52 33.82 37.10 40.45 44.21 48.30 53.25 59.38 64.52 71.40 81.57 90.75 101.72 113.38 125.86 138.82 152.25 165.84 179.17 192.04 204.12 214.85 94

18408-00-00 67

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![LOGO](g95392dsp206.jpg)

Issue Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 7.65 13.48 20.08 28.80 33.45 36.81 40.24 44.09 48.23 52.80 58.62 63.80 69.17 78.44 89.93 100.30 113.03 125.86 138.82 152.25 165.84 179.17 192.04 204.12 214.85 226.52 95 71 8.38 14.70 21.83 31.58 36.42 40.00 43.96 48.13 52.71 57.87 63.26 68.62 75.51 86.37 98.91 112.06 125.64 138.82 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 96 72 9.21 16.04 23.70 34.39 39.35 43.42 47.84 52.05 57.04 62.42 68.04 74.45 83.41 94.74 110.30 124.77 138.64 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 97 73 10.14 17.46 25.64 37.18 42.70 47.15 51.28 55.76 60.80 66.93 73.97 81.06 91.42 107.32 123.27 137.54 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 98 74 11.14 18.93 27.63 39.96 46.12 50.53 53.74 58.44 65.17 72.96 80.81 89.87 104.73 121.84 136.13 151.70 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 99 75 12.20 20.44 29.68 42.76 48.69 52.99 56.33 62.51 71.27 79.92 89.52 103.57 120.03 134.43 150.99 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 100 76 13.32 22.01 31.84 45.62 51.36 55.87 60.79 69.33 78.34 88.46 102.11 117.60 132.21 150.00 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 101 77 14.50 23.67 34.14 48.61 54.71 59.81 66.90 76.23 86.70 100.05 114.78 129.21 147.91 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 102 78 15.78 25.45 36.64 51.76 59.13 64.63 73.60 84.34 97.37 111.53 125.78 144.95 164.97 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 103 79 17.17 27.40 39.38 55.33 64.20 70.44 81.40 94.16 107.75 121.80 141.24 163.59 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 104 80 18.73 29.55 42.55 59.35 69.03 77.87 90.43 103.54 117.13 136.44 160.96 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 105 81 20.48 32.08 46.20 63.61 74.23 85.77 98.91 111.91 130.60 156.75 178.32 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 106 82 22.54 35.01 50.18 68.07 79.78 92.78 106.13 123.81 151.15 176.62 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 107 83 24.96 38.27 54.46 72.72 85.57 99.12 116.05 144.14 174.09 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 108 84 27.69 41.84 59.03 77.45 91.10 107.34 135.72 168.88 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 109 85 30.74 45.74 63.82 82.09 97.47 125.90 161.00 189.83 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 110 86 34.14 49.95 68.65 86.43 114.67 150.42 185.46 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 111 87 37.88 54.34 73.36 96.63 137.11 178.97 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 112 88 41.90 59.26 77.85 115.37 159.56 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 113 89 46.11 64.79 86.43 138.24 191.25 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 114 90 51.16 72.96 119.89 178.71 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 115 91 58.87 95.41 177.41 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 116 92 70.75 132.60 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 117 93 87.36 161.79 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 108.95 199.78 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 137.03 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

18408-00-00 68

------

**Exhibit D** 

**Company's Retention Limits** 

**Company's Retention Limits:** 

The Company will retain thirty-three (33)% of each policy on a first dollar quota share basis, not to exceed the Company's Retention Limits stated below. If the Company has filled its maximum retention limit on the life, the Company's share will be zero (0)% of amounts in excess of the maximum retention limit on the life.

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $6000000 |

---

18408-00-00 69

------

**Exhibit E** 

**Automatic Acceptance Limits** 

**1. Automatic Binding Limit:** 

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $20000000 |

---

**The pool maximum automatic binding amounts above exclude the Company's Retention.** 

**2. Jumbo Limit:** 

The Company will not cede any risk automatically if the total new ultimate face amount of insurance on that life in force and applied for with all companies, including the Company, and any amounts to be replaced, exceeds the applicable amounts shown below.

$35,000,000

**3. Conditional Receipt or Temporary Insurance Agreement Liability:** 

The amount of coverage provided by the Reinsurer will be limited to its share of the lesser of the policy face amount or the following amounts per life provided by the Company's Conditional Receipt (or Interim Receipt) or Temporary Insurance Agreement.

---

| |
|:---|
| Maximum Amount |
| $3000000 |

---

18408-00-00 70

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**Exhibit F** 

**Reinsurance Reports** 

The Company acknowledges that timely and correct compliance with the reporting requirements of this Agreement are a material element of the Company's responsibilities hereunder and an important basis of the Reinsurer's ability to reinsure the risks hereunder. Consistent and material non-compliance with reporting requirements, including extended delays, will constitute a material breach of the terms of this Agreement.

**Remittance:** The Company will self-administer reinsurance transactions. Reinsurance premiums are payable as specified in the Premium Mode provision in the applicable Exhibit. During each accounting period, as defined below, the Company will report to the Reinsurer all first year and renewal premiums which became due during the previous accounting period. Reporting of business transactions should begin within ninety (90) days of the latter of the Effective Date or the execution date of the Agreement, including policies with zero first year premium. Any adjustments made necessary by changes in reinsurance effective during a previous accounting period will also be reported.

The Company will take credit, without interest, for any unearned premiums arising due to reductions, cancellations or death claims. The unearned premiums refunded will be net of allowances and policy fees.

The Company will pay the balance of premiums in arrears due under a reinstated Reinsured Policy.

If a net balance is due to the Reinsurer, the Company will forward a remittance in settlement with its report. If the net balance is due to the Company, the Reinsurer will forward a remittance in settlement within thirty (30) days of receipt of the report.

**Report Requirements:** 

The Company will send to the Reinsurer the following TAI reports electronically, by the times indicated below:

---

| | | | |
|:---|:---|:---|:---|
|  | **Report** | **Accounting Period** | **Due Date** |
| 1. | Transaction Report: | Monthly | 25th day after month end |
|  | a) New Business |  |  |
|  | b) Renewal Business |  |  |
|  | c) Changes & Terminations |  |  |
| 2. | Inforce Report | Monthly | 25th day after month end |
| 3. | Policy Exhibit | Monthly | 25th day after month end |

---

18408-00-00 71

------

Docusign Envelope ID: 3B98B623-D2D1-497E-AF48-AB424E14829E

**Minimum Data Requirements for Electronic Administration:** 

Policy record details for new business, renewal business and changes and terminations (Reports #1, 2 and 3 in Report Requirements, above) may be reported as separate reports or combined into one report, hereinafter referred to as the Billings and Transactions Report. Nonetheless, the data elements specified below for the Billings and Transactions Report must be provided for each reported record.

**Billings and Transactions Report:** 

---

| | |
|:---|:---|
| **General** |  |
| 1. Reporting Period Dates | Specifies the beginning and ending date of the reporting period represented on the statement file. |
| **Insured Data** |  |
| 2. Last Name | Represents the surname or family name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components |
| 3. First Name | Represents the given name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components. |
| 4. Middle Name or Middle Initial (if available) | Represents the middle name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components. |
| 5. Date of Birth | Specifies the date on which the insured was born; this field must be provided on each insured on a joint policy. |
| 6. Sex | Indicates the gender of the insured; this field must be provided on each insured on a joint policy. |
| 7. Tobacco Use Code | Indicates whether the insured is a smoker or user of tobacco products. |
| 8. Rating | Indicates whether the insured is standard, substandard, or uninsurable. |
| 9. Residence | State, province, or other geographical code that indicates where the insured resides. |
| 10. Insured Sequence Number | Specifies the number assigned by the ceding company to delineate one insured from another on a policy with multiple insureds. |
| **Coverage Data** |  |
| 11. Currency | Indicates the currency to be applied in calculating monetary amounts, if currency within this treaty is a variable on a by policy basis. |
| 12. Reinsurance Method | Indicates whether the policy is being ceded on an automatic or facultative basis. |
| 13. Policy Number | Specifies the number assigned by the ceding company to the policy record. |
| 14. Coverage Sequence Number | Specifies the number assigned by the ceding company to delineate one coverage or benefit from another on a policy with multiple coverages or benefits. |
| 15. Issue Date | The date the policy or benefit was issued. |

---

18408-00-00 72

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---

| | |
|:---|:---|
| 16. Reinsurance Effective Date (if different than issue date) | Specifies the date upon which the reinsurance coverage goes into effect, if it goes into effect on a date other than the issue date. Can also be used to specify the original Policy Issue Date on a contractual policy conversion. |
| 17. Plan Code | Specifies the plan of insurance being provided to the insured; there must be a separate plan code for each coverage. |
| 18. Joint Life Indicator | Indicates that the coverage is a joint coverage and that multiple lives are involved with the coverage. |
| 19. Smoker Code | Indicates that the coverage has been issued at either non-smoker or smoker rates. |
| 20. Preferred Risk Class | Indicates the level of classification between the preferred and standard categories; there may be more than one level of the preferred classification available, and this will indicate the specific level for this policy. |
| 21. Mortality Rating | Specifies the exact rating assigned to the policy; premium rates will be based on this rating; this rating is generally expressed as a percentage. |
| 22. Flat Extra Rate | Specifies a flat rate per thousand to be charged on the policy. |
| 23. Flat Extra Duration | Specifies the number of years that the flat extra rating will be charged. |
| 24. Direct Face Amount | Specifies the face amount of the benefit issued to the insured before the purchase of any reinsurance. |
| 25. Reinsured Face Amount | Specifies the face amount of the reinsurance purchased. |
| 26. Reinsured Amount at Risk | Specifies the net amount at risk for the current year's reinsurance benefits. |
| 27. Death Benefit Option | Specifies the option used to calculate the policy net amount at risk on Universal Life products, only. |
| 28. Coverage Maturity or Expiry Date | Specifies the date on which the insurance coverage will cease, based on the type of plan issued to the insured. |
| 29. Issue Age | From date of issue, the age at which premiums will be charged when the case does not use a rated age. |
| 30. Rated Age | From the date of issue, the age at which premiums will be charged when the age is increased for substandard reasons, or when the age is an equivalent age for joint products. |
| 31. Transaction Code | Indicates the specific action that has occurred to cause a policy to appear on the billing or transaction report, such as New Business, Renewal, Lapse, Death etc. |
| 32. Transaction Effective Date | Specifies the date on which the transaction is applied to the insured's policy. |
| 33. Standard Premium | The premium to be paid for the reinsured benefit; this must be specified for each benefit provided on a policy record. |
| 34. Substandard Premium | In the event that a mortality rating has been assigned, this is the substandard portion of the premium to be paid for the reinsured benefit; this must be specified for each benefit provided on a policy record. |

---

18408-00-00 73

------

---

| | |
|:---|:---|
| 35. Flat Extra Premium | The premium to be paid the reinsurer for any flat extra premiums assigned to the policy. |
| 36. Fees | Any additional fees to be charged, such as policy fees |
| 37. Standard Allowance | The allowance to be taken for the reinsured benefit; this must be specified for each benefit provided on a policy record. |
| 38. Substandard Allowance | In the event that a mortality rating has been assigned, this is the portion of the allowance to be taken for the substandard premium; this must be specified for each benefit provided on a policy record. |
| 39. Flat Extra Allowance | In the event a flat extra rating has been assigned to the policy, this is the portion of the allowance to be taken on the flat extra premium; this must be specified for each flat extra premium provided on a policy record. |

---

**Inforce List:** 

As required, a complete listing of all policy records considered to be in force under this Agreement must also be provided to the Reinsurer (Report #2 in Report Requirements, above). Each record on the Inforce List must contain data elements 1–thirty (30), as specified in the above listing of data requirements.

**Reporting System:** The system used by the Company to administer its reinsurance is: **TAI**

The Company will inform the Reinsurer at least one reporting period in advance of any change in the reporting format or data prior to its use in reports to the Reinsurer. The Company will provide the Reinsurer with a test file containing such a change prior to its implementation in the production of reports.

**Notification of Acceptance of Facultative Offer:** The Company will promptly advise the Reinsurer of its acceptance of the Reinsurer's underwriting decision pertaining to facultative business by sending notice to the Reinsurer on the next New Business Report, providing the full details of the facultative new business.

**Additional Information:** Upon request, the Company will promptly provide the Reinsurer with any additional information related to the Reinsured Policies and which the Reinsurer requires in order to complete its financial statements.

18408-00-00 74

## Ex-99.(G)(Xxvii)

**Reinsurance Agreement I2526854US-24** 

**This Automatic Self Administered YRT Reinsurance Agreement** 

Effective **January 1, 2025**

(hereinafter referred to as the "Agreement")

is made between

**Thrivent Financial for Lutherans** 

(hereinafter referred to as the "Company")

and

**Swiss Re Life & Health America Inc.** 

Missouri

(hereinafter referred to as the "Reinsurer")

I2526854US-24 (01-01-2025) (QT27458US24)

------

**Table of Contents** 

---

| | | |
|:---|:---|:---|
|  **Article 1** | **Article 1** |  |
| 1.1 | General | 4 |
| 1.2 | Scope of Coverage | 4 |
|  **Article 2** | **Article 2** |  |
| 2.1 | Automatic Reinsurance | 5 |
| 2.2 | Facultative Reinsurance | 6 |
|  **Article 3** | **Article 3** |  |
| 3.1 | Automatic Submissions | 7 |
| 3.2 | Facultative Submissions | 7 |
|  **Article 4** | **Article 4** |  |
| 4.1 | Commencement of Automatic Reinsurance Liability | 8 |
| 4.2 | Commencement of Facultative Reinsurance Liability | 8 |
| 4.3 | Conditional Receipt or Temporary Insurance Agreement Liability | 8 |
|  **Article 5** | **Article 5** |  |
| 5.1 | Premium Accounting | 9 |
| 5.2 | Currency | 9 |
| 5.3 | Non-Payment of Premiums | 9 |
|  **Article 6** | **Article 6** |  |
| 6.1 | Right of Offset | 10 |
|  **Article 7** | **Article 7** |  |
| 7.1 | Conversions | 11 |
| 7.2 | Policy Changes | 11 |
| 7.3 | Reductions | 12 |
| 7.4 | Lapses | 13 |
| 7.5 | Reinstatements | 13 |
| 7.6 | Reinsurance Limits | 13 |
|  **Article 8** | **Article 8** |  |
| 8.1 | Retention Limit Change | 14 |
| 8.2 | Rate Increases | 14 |
| 8.3 | Recapture | 14 |
|  **Article 9** | **Article 9** |  |
| 9.1 | Claims Notice and Consultation | 16 |
| 9.2 | Claim Proofs | 16 |
| 9.3 | Claims Payment | 17 |
| 9.4 | Claims Practices | 17 |
| 9.5 | Contested Claims | 18 |
| 9.6 | Claims Expenses | 18 |
| 9.7 | Extra Contractual Obligations | 19 |
| 9.8 | Misstatement of Age or Sex | 19 |

---

I2526854US-24 (01-01-2025) (QT27458US24)

------

---

| | | |
|:---|:---|:---|
|  **Article 10** | **Article 10** |  |
| 10.1 | Errors and Omissions in Administration of Reinsurance | 20 |
| 10.2 | Dispute Resolution | 20 |
| 10.3 | Arbitration | 20 |
|  **Article 11** | **Article 11** |  |
| 11.1 | Insolvency | 23 |
|  **Article 12** | **Article 12** |  |
| 12.1 | Taxes and Expenses | 25 |
|  **Article 13** | **Article 13** |  |
| 13.1 | Entire Agreement | 26 |
| 13.2 | Inspection of Records | 26 |
| 13.3 | Utmost Good Faith | 27 |
| 13.4 | Confidentiality | 27 |
| 13.5 | Security | 29 |
| 13.6 | OFAC Compliance | 30 |
|  **Article 14** | **Article 14** |  |
| 14.1 | Representations and Warranties | 32 |
|  **Article 15** | **Article 15** |  |
| 15.1 | Material Changes | 33 |
|  **Article 16** | **Article 16** |  |
| 16.1 | Duration of Agreement | 34 |
| 16.2 | Severability | 34 |
| 16.3 | Construction | 34 |
| 16.4 | Credit for Reinsurance | 34 |
| 16.5 | Non-Waiver | 36 |
| 16.6 | Retrocession | 36 |
| 16.7 | Governing Law | 36 |
| 16.8 | Interest | 36 |
| 16.9 | No License of Name | 36 |
| 16.10 | Counterparts | 36 |
|  **Execution** | **Execution** |  |
|  **Exhibits** | **Exhibits** |  |
|  A | Business Covered | 38 |
|  A-1 | Business Guidelines | 40 |
|  A-2 | Facultative Submissions | 41 |
|  B | Reinsurance Application | 42 |
|  C | General Terms | 43 |
|  C-1 | Rates and Terms for Specific Plans | 44 |
|  D | Company's Retention Limits | 59 |
|  E | Automatic Acceptance Limits | 60 |
|  F | Reinsurance Reports | 61 |

---

I2526854US-24 (01-01-2025) (QT27458US24)

------

**Article 1** 

1.1 **General** 

This Agreement is an indemnity reinsurance agreement solely between the Company and the Reinsurer. The acceptance of risks under this Agreement by the Reinsurer will create no right or legal relation between the Reinsurer and the insured, owner, beneficiary, or assignee of any insurance policy of the Company.

This Agreement will be binding upon the parties hereto and their respective successors and assigns including any rehabilitator, conservator, liquidator or statutory successor of either party. Neither party may effect any novation of this Agreement without the other party's prior written consent.

Day or days, when used in this Agreement, will mean calendar days.

1.2 **Scope of Coverage** 

This Agreement applies to all directly issued insurance policies and supplemental benefits and riders listed in Exhibit A (hereinafter referred to as "policies" or "policy") and issued in a jurisdiction in which the Company is properly licensed. On and after the effective date of this Agreement, the Company will cede and the Reinsurer will accept its share of the benefits specified in Exhibit A in accordance with the terms of this Agreement. The policies accepted by the Reinsurer will be hereinafter referred to as "Reinsured Policies."

The Company may not reinsure the retained amounts specified in Exhibit D on any basis without the Reinsurer's prior written consent.

I2526854US-24 (01-01-2025) (QT27458US24) 4

------

**Article 2** 

2.1 **Automatic Reinsurance** 

The Company will automatically cede and the Reinsurer will automatically accept its share of the Company's policies provided that, to the best of the Company's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The Company has retained on each life the amount set out in Exhibit D according to the age and mortality rating
at the time of underwriting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The total of the new ultimate face amount of reinsurance requested and the amount already reinsured on that
life under this Agreement and all other life agreements between the Reinsurer and the Company, does not exceed the Reinsurer's quota share (as found in Exhibit A) of the Automatic Binding Limit set out in Exhibit E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The total new ultimate face amount of insurance on that life in force and applied for with all companies,
including the Company, does not exceed the Jumbo Limit set out in Exhibit E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The application is on a life for which the current or any previous application had not been submitted by the
Company on a facultative basis to the Reinsurer or any other reinsurer within the last three years, unless the reason for the previous facultative submission was for exceeding the Automatic Acceptance Limit or exceeding the Jumbo Limit and no longer
applies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) The policy is not purchased as part of a premium financing program or third party investment program, unless
such programs have been approved in writing by the Reinsurer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) The Company applies its underwriting guidelines that are in effect at time of policy issuance. In the absence
of underwriting guidelines on any particular topic or condition or if the underwriting guidelines dictate that individual consideration is required, including but not limited to referrals to a medical doctor, the Company will make underwriting
decisions in good faith utilizing the care, skill and diligence with which a reasonably prudent underwriter would use in the same or similar circumstances.

For purposes of this Agreement, "ultimate face amount" will mean, to the best of the Company's knowledge, the projected maximum face amount at the time of underwriting, including any contractual increases, that could be reached based on reasonable assumptions made about the policy.

If the Company is already on the risk for its retention under previously issued policies, the Reinsurer will automatically accept reinsurance for newly issued policies according to the limits set out in Exhibit E, provided the Company has complied with the business guidelines specified in Exhibit A-1 (hereinafter the "Business Guidelines") that would have applied if the new policy had been fully retained by the Company.

Automatic reinsurance will be on a YRT basis using the YRT Rates for Full Underwriting or Accelerated Underwriting specified in Exhibit C-1.

I2526854US-24 (01-01-2025) (QT27458US24) 5

------

2.2 **Facultative Reinsurance** 

Policies that do not qualify for automatic reinsurance hereunder may be submitted to the Reinsurer on a facultative basis. Additionally, policies that qualify for automatic reinsurance may be submitted to the Reinsurer for facultative consideration. If a policy that qualifies for automatic reinsurance is submitted to the Reinsurer or other reinsurers for facultative consideration, the policy will be treated as if proposed on a facultative basis.

Facultative reinsurance will be on a YRT basis using the YRT Rates for Full Underwriting specified in Exhibit C-1.

I2526854US-24 (01-01-2025) (QT27458US24) 6

------

**Article 3** 

3.1 **Automatic Submissions** 

The Company will report Reinsured Policies ceded automatically to the Reinsurer according to the terms specified in Exhibit F.

Upon request, the Company will provide the Reinsurer copies of the application, underwriting papers and other information pertaining to any automatic cession under this Agreement.

3.2 **Facultative Submissions** 

Applications for reinsurance on a facultative basis will be made in accordance with Exhibit A-2. Unless the Reinsurer provides written consent to an extension, the Company will have the number of days specified in Exhibit A-2 from the date of the Reinsurer's final offer in which to place the policy with the insured/owner, after which the Reinsurer's offer will expire without further notice or obligation.

The terms of this Agreement will apply to each accepted facultative offer, unless the offer specifies different terms.

I2526854US-24 (01-01-2025) (QT27458US24) 7

------

**Article 4** 

4.1 **Commencement of Automatic Reinsurance Liability** 

The Reinsurer's liability for any Reinsured Policy accepted automatically will begin simultaneously with the Company's contractual liability for that policy.

4.2 **Commencement of Facultative Reinsurance Liability** 

The Reinsurer's liability for facultative reinsurance will begin simultaneously with the Company's contractual liability if the Company has accepted, during the lifetime of the insured, the Reinsurer's offer of coverage. However, the Reinsurer will be bound to facultative policies that are placed with the Reinsurer by the Company in accordance with the Company's reasonably documented facultative acceptance procedures.

The Reinsurer will have no liability for any application submitted for facultative consideration if the Reinsurer declined facultative coverage or made an offer of coverage that was not accepted by the Company as required by the terms of this Agreement.

4.3 **Conditional Receipt or Temporary Insurance Agreement Liability** 

Automatic reinsurance coverage provided by the Reinsurer for the Company's conditional receipt or temporary insurance agreement will begin simultaneously with the Company's contractual liability and is limited to the Reinsurer's share, as shown in Exhibit A, of amounts accepted within the Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit E.

For facultative applications submitted to the Reinsurer, the Reinsurer's liability under a conditional receipt or a temporary insurance agreement will begin simultaneously with the Company's contractual liability if the Reinsurer has received notice from the Company that the Reinsurer's facultative offer has been accepted. The Reinsurer's liability is limited to its share, as shown in Exhibit A, of amounts accepted within the Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit E.

If the proposed insured dies prior to the completion of the underwriting process, the Reinsurer will continue underwriting the risk to determine if a facultative offer would have been made on the risk. If so, the Reinsurer will accept liability for the risk, subject to the limits specified in the paragraph above.

The Reinsurer has no liability for facultative applications that the Company has not submitted to the Reinsurer.

After a policy has been issued, no reinsurance benefits are payable under this pre-issue coverage provision.

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**Article 5** 

5.1 **Premium Accounting** 

The Company will pay the Reinsurer premiums in accordance with the terms specified in Exhibit C-1.

The method and requirements for reporting and remitting premiums are specified in Exhibit F.

5.2 **Currency** 

All payments due under this Agreement will be made in U.S. Dollars.

5.3 **Non-Payment of Premiums** 

The payment of reinsurance premiums is a condition to the liability of the Reinsurer for reinsurance provided by this Agreement. In the event that undisputed reinsurance premiums are not paid within 60 days of the due date, the Reinsurer may terminate reinsurance for all Reinsured Policies having reinsurance premiums in arrears. If the Reinsurer elects to terminate any Reinsured Policies after such 60 day period, it will then give the Company at least 15 days' prior written notice of its intention to terminate such reinsurance. If all reinsurance premiums in arrears, including any which may become in arrears during such 15 day notice period, are not paid before the end of the notice period, the Reinsurer's obligations for those Reinsured Policies will be limited to obligations relating to events arising on or before the last date for which reinsurance premiums have been paid in full for each Reinsured Policy.

If reinsurance is terminated according to this Article, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

Terminated reinsurance may be reinstated, subject to approval by the Reinsurer, within 30 days of the date of termination, and upon payment of all reinsurance premiums in arrears including any interest accrued thereon. The Reinsurer will have no liability for any claims incurred between the date of termination and the date of the reinstatement of the reinsurance. The Reinsurer's right to terminate reinsurance will not prejudice its right to collect premiums, and applicable interest as specified in Exhibit C, for the period reinsurance was in force, through and including the 15 day notice period.

The Company may not force termination through the non-payment of reinsurance premiums to avoid the Agreement's requirements or to transfer the Reinsured Policies to another party.

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**Article 6** 

6.1 **Right of Offset** 

Any undisputed amounts due, by either of the parties to this Agreement, whether they arise out of this Agreement or out of any other reinsurance agreement between the parties, may be offset and only the balance will be allowed or paid. This right will continue to exist after the termination of this Agreement,

The rights provided under this Article are in addition to any rights of offset that may exist at common law. The parties' offset rights may be enforced notwithstanding any other provision of this Agreement including, without limitation, the provisions of Article 11, Insolvency.

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**Article 7** 

7.1 **Conversions** 

Subject to the provisions of this Section 7.1, Company shall retain all the risk resulting from the contractual term conversion of any coverage reinsured under this Agreement (other than contractual term conversions of facultative policies), with such converted policies being referred to herein as "Conversion Policies." For the avoidance of doubt, (i) Company shall cede all the risk resulting from the contractual term conversion of facultative policies to the Reinsurer for the term of this Agreement, and (ii) Conversion Policies shall be considered Reinsured Policies for the purposes of this Agreement.

The Company may request to cede Conversion Policies by providing Reinsurer a written request and the appropriate documentation to allow Reinsurer to review and determine if the current reinsurance rates are appropriate. Reinsurer will notify the Company within 60 days of receiving the appropriate documentation, if it accepts the request and whether reinsurance rates will be adjusted. If the Reinsurer accepts the request but adjusts reinsurance rates, the Company shall have an additional 60 days to accept or reject such adjusted rates. For the avoidance of doubt, if the Company rejects the Reinsurer's adjusted rates, the Company shall continue retaining all the risk resulting from the contractual term conversions of Conversion Policies.

If Conversion Policies are ceded to Reinsurer, the change will be effective on the date agreed by the parties and shall not apply retroactively to any Conversion Policies converted prior to the agreed effective date.

Whether Conversion Policies are ceded to the Reinsurer or retained by Company under this article 7.1, all eligible Conversion Policies must be ceded or retained.

If a Reinsured Policy is converted according to the policy's terms and the applicable provisions of the Business Guidelines, the Company will notify the Reinsurer as specified in Exhibit F. The amount to be reinsured will be determined on the same basis as used for the original Reinsured Policy (excess of retention or quota share) but will not exceed the amount reinsured as of the date of conversion unless mutually agreed otherwise.

Reinsurance will be on a YRT basis using the YRT Rates for Conversions specified in the applicable Exhibit C-1. Premiums are based on the issue age, risk class, and duration of the original policy unless a risk class reconsideration has been applied.

7.2 **Policy Changes** 

"Policy changes" refers to the variety of actions that may be made to a policy after issue. These actions include, but are not limited to, replacements, exchanges, changes in plans, a change in the face amount of the policy or the addition of a covered rider. If there is a change affecting the reinsurance on a Reinsured Policy, the Company will inform the Reinsurer in the subsequent Transaction Report specified in Exhibit F.

Except as provided in this Article, whenever a Reinsured Policy is changed and the Company's underwriting guidelines do not require that full evidence of insurability be obtained, the terms of this Agreement will apply to the changed Reinsured Policy using point in scale rates, whether the change is made before or after any cancellation of this Agreement for new business. The suicide and contestability periods applicable to the original Reinsured Policy will apply to the reissued Reinsured Policy and the duration for premium payment will be measured from the effective date of the original Reinsured Policy.

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Whenever a Reinsured Policy is changed and the Company's underwriting guidelines require that full evidence of insurability be obtained and the suicide and contestability periods will be based on the reissued policy date, unless otherwise required by applicable law, the terms of this Agreement will apply to the changed Reinsured Policy if the change is made before cancellation of this Agreement for new business. Such Reinsured Policy changes taking place after the Agreement is cancelled for new business will not be reinsured without the Reinsurer's prior written consent. Unless otherwise agreed, first year premium rates and allowances as specified in Exhibit C-1 will apply to the amount underwritten as well as for a non-contractual increase.

Policy changes to Reinsured Policies will be subject to the Reinsurer's prior written approval, if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The new ultimate face amount of the policy, including any contractual increases, would be in excess of the
Automatic Acceptance Limit in effect at the time of the change, as set out in Exhibit E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The new ultimate face amount of the policy, including any contractual increases, and the amount already in
force in all companies on the same life exceeds the Jumbo Limit stated in Exhibit E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The policy was reinsured on a facultative basis, unless the policy change is only a reduction in death benefit
amount; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Evidence of insurability is not obtained if required in the Company's underwriting guidelines; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) If the change includes a policy with features such as, but not limited to, riders or options that are different
from the original policy.

7.3 **Reductions** 

Unless specified otherwise in this Agreement, if the amount of a Reinsured Policy issued by the Company is reduced, then the amount of reinsurance on that Reinsured Policy will be reduced effective the same date by the same proportion as the reduction under the original Reinsured Policy.

If the reinsurance for a Reinsured Policy has been placed with more than one reinsurer, the reduction will be applied to all reinsurers pro rata to the amounts originally reinsured with each reinsurer.

The Company's retention shall only be calculated upon a policy's issue date. A subsequent reduction to one of the Company's policies (whether reinsured or not reinsured hereunder) will not require the Company to recalculate and/or maintain its required retention as specified in Exhibit D of this Agreement.

In the event of the reduction of a policy or policies reinsured under this Agreement, the Reinsurer will refund any unearned reinsurance premiums. The reinsured portion of any policy fee will be deemed earned for the entire policy year if the policy was reinsured during any portion of that policy year.

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7.4 **Lapses** 

When a policy issued by the Company lapses, the corresponding reinsurance on the Reinsured Policy will be terminated effective the same date.

If a policy issued by the Company lapses and reduced paid-up insurance is elected under the terms of that policy, the amount of the corresponding reinsurance on the Reinsured Policy will be reduced according to the terms of Article 7.3.

If the Company allows the policy to remain in force under its automatic premium loan regulations, the corresponding reinsurance on the Reinsured Policy will continue unchanged and in force as long as such regulations remain in effect, except as otherwise provided in this Agreement.

7.5 **Reinstatements** 

If a policy reinsured on an automatic basis is reinstated according to its terms and the Company's reinstatement rules, the Reinsurer will, automatically reinstate the reinsurance. The Reinsurer's approval is required for the reinstatement of reinsurance on a facultative policy if the Company's regular reinstatement rules indicate that evidence of insurability, in addition to a statement of good health, is required.

To the extent the Reinsured Policy requires payment of premiums in arrears, the Company will pay all reinsurance premiums in arrears on reinstated policies and such premiums will be subject to Article 16.8 and Exhibit F.

7.6 **Reinsurance Limits** 

The Company will not submit a policy to the Reinsurer unless the amount of reinsurance on the policy equals or exceeds the Minimum Initial Reinsurance Limit ceded to the Reinsurer as specified in Exhibit C.

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**Article 8** 

8.1 **Retention Limit Change** 

The Company may change its retention limit (hereinafter "Retention Limit") at any time by providing the Reinsurer with written notice of the new Retention Limit at least 30 days prior to the effective date. Changes to the Company's Retention Limits in Exhibit D will not affect the Reinsured Policies in force at the time of such a change except as specifically provided for elsewhere in this agreement and will not affect the Automatic Acceptance Limit or Jumbo Limit in Exhibit E unless mutually agreed in writing by the Company and the Reinsurer.

If the Company decreases its Retention Limit, no reinsurance may be ceded on an automatic basis until the parties have reviewed and either expressly affirmed or revised the terms specified in the applicable Exhibit and the Automatic Acceptance Limit set out in Exhibit E.

8.2 **Rate Increases** 

The reinsurance rates as set out in Exhibit C-1 are guaranteed for one policy year. The Reinsurer reserves the right to increase the rates for reinsurance but not to exceed the valuation net premiums for YRT insurance calculated using the minimum statutory mortality rates and the maximum statutory interest rate for each year of issue. The Reinsurer will inform the Company of a rate increase at least 90 days before it takes effect. The percentage rate increase will apply to each policy on the policy anniversary date following the effective date of the increase. For policy years in the post level term period, the Reinsurer reserves the right to increase the rates for reinsurance but not above the greater of the guaranteed premium charged to the policyholder or the statutory net valuation premium applicable to the Reinsured Policies after increase.

If the Company raises its retail premiums or cost of insurance charges on any in force business reinsured under this Agreement, it shall provide the Reinsurer with 30 days prior written notice of the increase. The Reinsurer reserves the right to increase rates on such business by a corresponding amount by informing the Company of its intention to do so (i) within 30 days of the Company's notice and (ii) at least 60 days prior to the effective date of the increase to reinsurer rates.

8.3 **Recapture** 

Reinsured policies will not be eligible for recapture due solely to an increase in the Company's quota share percentage retained.

The Company may recapture if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company increases its Retention Limit to reduce the amount of in force reinsurance ceded on an automatic
basis provided, however, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) No recapture is made until the Reinsured Policy has been in force through the end of the level premium period.
For a conversion, the recapture terms of the original policy will apply and the duration for the recapture period will be measured from the effective date of the original policy; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Recapture will be effected on the next anniversary of each Reinsured Policy eligible for recapture unless
agreed otherwise by both parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The Company gives the Reinsurer 30 days irrevocable written notice of its intention to recapture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The Company has maintained, from the time the policy was issued, its quota share retention as set out in
Exhibit D, and has applied its increased Retention Limit to all categories set out in Exhibit D.

The amount of reinsurance eligible for recapture will be the difference between the amount originally retained and the amount the Company would have retained on the same quota share basis had the new retention been in effect at the time of issue. If there is reinsurance with other reinsurers on risks eligible for recapture, the reduction will be applied pro rata to the total outstanding reinsurance. In applying its increased Retention Limit to Reinsured Policies, the age and mortality rating at the time of issue will be used to determine the amount of the Company's increased retention.

Recapture is optional, but if any reinsured business is recaptured, all business eligible must be recaptured in a consistent manner. Eligible reinsured business means business with the same form of underwriting. In addition, all life risks reinsured under any other reinsurance agreement between the Reinsurer and the Company which are eligible for recapture must be similarly recaptured. No reserves for the recaptured business will be paid to the Company by the Reinsurer.

The parties' obligations for any recaptured business will be limited to those relating to events or circumstances arising or occurring before the recapture date. If a cession eligible for recapture has been overlooked by the Company, the liability of the Reinsurer will be limited to the refund of the amount of premiums accepted by the Reinsurer after the date of recapture, less allowances or claims paid, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Reinsurer does one of the following, regardless of the Reinsured Policies' duration in force:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Increases its reinsurance premium rates on any block of in force business under this agreement on which the
Company has not raised its retail premiums or cost of insurance charges; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Increases its reinsurance premium rates on any block of in force business by an amount greater than the
corresponding increase made by the Company to its retail premiums or cost of insurance charges.

If the Company elects to recapture, it must notify the Reinsurer of its intention to do so before the rate increase takes effect. The recapture will be effective on the next anniversary of each Reinsured Policy eligible for recapture unless agreed otherwise by both parties. Upon recapture pursuant to this provision, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

The Company shall not be liable for a fee to recapture reinsurance on a contractual recapture as specified above. Recapture will be effected by way of the Company not remitting applicable premiums.

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**Article 9** 

9.1 **Claims Notice and Consultation** 

The Company is responsible for the settlement of claims in accordance with applicable law and policy terms. It is the Company's sole decision to determine whether a claim is payable under the policy. The Reinsurer agrees to accept the determination of the Company based on the Company's standard claims practices and subject to the terms of this Agreement. For purposes of this Article, Reinsured Policies include conditional receipts and temporary insurance agreements covered under the terms of this Agreement. It is a condition to the Reinsurer's obligation to pay a claim that the Company notify the Reinsurer in writing as soon as possible. The Company will promptly provide the Reinsurer with copies of all claims documents, except as specified in this agreement

The Company may request a recommendation from the Reinsurer on any claim on a Reinsured Policy.

9.2 **Claim Proofs** 

The parties agree to apply the Reinsurer's Document Reduction Program (DRP) to claims which fall under the terms of this Agreement and meet the criteria described below.

The Company will provide the Reinsurer with the following documentation of the claim as specified below, if the face amount of the claim is greater than $1,000,000:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Copies of claimant statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. A copy of the death certificate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Proof of claim payments

The DRP will not apply to the following claims:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Claims where the death of the insured occurred outside of the United States, Canada, Puerto Rico, or Guam; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Claims where the face amount of the claim exceeds $1,000,000; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Claims where an accidental death payment is payable; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Claims for accelerated death benefits; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Claims where fraud is identified; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Claims in litigation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Claims where an exception to standard claims practices is made.

The Reinsurer will continue to receive all data elements currently required and received through the Company's TAI system for reinsured claims under the DRP. The data elements required for each claim will include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Insured's Name,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Policy Number,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Issue Date,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Policy Duration,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Face Amount,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Net Amount at Risk,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Post Mortem Interest to be paid on the claim (including from and to dates and interest rate used), h)
Investigation and other expenses to be paid on claim,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) Legal expenses to be paid on claim,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) Date of Birth,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k) Gender,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l) Date of Death,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m) Cause of Death (if available),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n) Location of Loss

The Reinsurer reserves the right to request additional documentation at any time from the Company for any claim. The Company agrees that it will continue to obtain the usual proof of death on all claims.

The Reinsurer has the right to audit the Company's claims paying practices and procedures on claims that fall within the DRP criteria outlined above.

**9.3** **Claims Payment** 

The Reinsurer will be liable to the Company for its share of the benefits owed under the express contractual terms of the Reinsured Policies and as specified under the terms of this Agreement. The Reinsurer will not participate in any ex gratia payments made by the Company (i.e., payments the Company is not required to make under the Reinsured Policy terms.) The payment of death benefits by the Reinsurer will be in one lump sum regardless of the mode of settlement under the Reinsured Policy. Benefit payments from the Reinsurer will be due within 30 days of the claim satisfying the requirements established under this Agreement. The Reinsurer's share of any interest payable under the terms of a Reinsured Policy or applicable law which is based on the death benefits paid by the Company, will be payable provided that the Reinsurer will not be liable for interest accruing on or after the date of the Company's payment of benefits nor for interest paid on premium refunds, policy dividends, or any other component other than the death benefit. The Reinsurer's share will be based upon the net amount at risk at the time of death and at the same interest rate and days used by the Company to calculate their interest paid.

The Reinsurer will make payment to the Company for each such claim.

For claims on Accelerated Benefit riders reinsured under this Agreement, the benefit amount payable by the Reinsurer will be calculated by multiplying the total accelerated death benefit rider payout by the ratio of the reinsured Net Amount at Risk, as defined in Exhibit C-1, to the face amount of the Reinsured Policy.

9.4 **Claims Practices** 

It is the Company's sole decision to determine whether to investigate, contest, compromise or litigate a claim; however, the Company is responsible for investigating, contesting, compromising or litigating Reinsured Policy claims in accordance with applicable law and policy terms.

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The Company acknowledges that it obtains certified death certificates for death claims that are over $500,000 and obtains a copy of the non-certified death certificate for death claims of $500,000 or less.

9.5 **Contested Claims** 

The Company will notify the Reinsurer promptly of its intention to investigate, contest, compromise, or litigate any claim involving a Reinsured Policy (hereinafter a "Contested Claim"). The Company will provide the Reinsurer all relevant information and documents, as such become available, pertaining to Contested Claims and will promptly report any developments during the Reinsurer's review. If the Reinsurer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Does not support the contest of the Contested Claim, the Reinsurer will pay the Company its full share of the
reinsurance benefit, and will not share in any subsequent reduction or increase in liability or in any subsequent expenses incurred by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Supports the Company's decision to contest the Contested Claim and the Contested Claim results in a
reduction or increase in liability, the Reinsurer will share in any reduction or increase in proportion to its share of the risk on the Contested Claim.

If the Reinsurer supports the decision to contest the claim, the Company will promptly advise the Reinsurer of all significant developments, including notice of legal proceedings (including, but not limited to, consumer complaints or actions by governmental authorities) initiated in connection with the Contested Claim.

If the Company returns premiums to the policy owner or beneficiary as a result of rescinding a policy, or if the Company pays a suicide benefit, the Reinsurer will refund net reinsurance premiums received on that policy to the Company.

9.6 **Claims Expenses** 

The Reinsurer will pay its share of reasonable investigation and legal expenses incurred in investigating, adjudicating or litigating a claim, except as otherwise provided in this Agreement. The Reinsurer will not be liable for any routine investigative or administrative claim expenses (such as compensation of salaried employees) or for any expenses incurred in connection with conflicting claims of entitlement to Reinsured Policy benefits that the Company admits are payable.

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9.7 **Extra Contractual Obligations** 

For purposes of this Agreement, "Extra Contractual Obligations" are any obligations or expenses other than contractual obligations incurred by the Company, its affiliates, directors, officers, employees, agents or other representatives and arising under the express written terms and conditions of a policy, including but not limited to, punitive damages, bad faith damages, compensatory damages, and other damages or fines or penalties which may arise from the acts, errors or omissions of the Company or its affiliates, directors, officers, employees, agents or other representatives.

The Reinsurer is not liable for Extra Contractual Obligations associated with a contested claim unless it concurred in writing and in advance with the claim actions which were the basis for the Extra Contractual Obligations. In these situations, the Company and the Reinsurer will share in Extra Contractual Obligations, in equitable proportions, but all factors being equal, the Reinsurer's assessments would be in proportion to the risk accepted for the Reinsured Policy involved.

The Reinsurer will not be liable for any Extra Contractual Obligations resulting from the Company's failure to implement the agreed upon course of action, such as the filing of timely pleadings or meeting court or statutory deadlines, etc.

9.8 **Misstatement of Age or Sex** 

In the event of a change in the amount payable under a Reinsured Policy due to a misstatement in age or sex, the Reinsurer's liability will change proportionately. The Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and amounts at risk for the correct ages and sex, and the proper adjustment for the difference in reinsurance premiums, without interest, will be made.

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**Article 10** 

10.1 **Errors and Omissions in Administration of Reinsurance** 

Any unintentional or accidental failure to comply with the terms of this Agreement which can be shown to be the result of an oversight or clerical error relating to the administration of reinsurance by either party will not constitute a breach of this Agreement. Upon discovery, the error will be promptly corrected so that both parties are restored to the position they would have occupied had the oversight or clerical error not occurred. In the event a payment is corrected, the party receiving the payment may charge interest, calculated according to the terms specified in Exhibit C. Should it not be possible to restore both parties to this position, the party responsible for the oversight or clerical error will be responsible for any resulting liabilities and expenses. The Reinsurer will not be responsible for deliberate acts of the Company or for recurring errors made by the Company.

If the Company has failed to cede reinsurance as provided under this Agreement or has failed to comply with reporting requirements with respect to business ceded hereunder, the Reinsurer may require the Company to audit its records for similar errors and take reasonable actions necessary to correct errors and avoid similar errors. Failing prompt correction, the Reinsurer may limit its liability to the correctly reported Reinsured Policies.

10.2 **Dispute Resolution** 

As a condition to the parties' right to arbitration under this Agreement, either the Company or the Reinsurer will give written notification to the other party of any dispute relating to or arising from this Agreement, including, but not limited to, the formation or breach thereof. Within 30 days of notification, both parties must designate an officer of their respective companies to attempt to resolve the dispute. The officers will meet at a mutually agreeable location as soon as possible and as often as necessary to attempt to negotiate a resolution of the dispute. During the negotiation process, all reasonable requests made for information concerning the dispute will be promptly honored. The format for discussions will be determined mutually by the officers.

If these officers are unable to resolve the dispute within 30 days of their first meeting, the parties may agree in writing to extend the negotiation period for an additional 30 days. If the matter is not resolved within 30 days of the first meeting or the additional 30 day period, if any, then either party may demand arbitration pursuant to Article 10.3. The discussions and all information exchanged for the purposes of such discussions will be confidential and without prejudice.

10.3 **Arbitration** 

If the Company and the Reinsurer are unable to resolve any dispute arising from this Agreement, including but not limited to the formation or breach thereof, pursuant to Article 10.2, the matter will be referred to arbitration.

The arbitration will be held in Minneapolis, Minnesota, or another place as the parties may mutually agree, and the Governing Law specified in Article 16.7 shall govern the arbitration panel's interpretation and application of this Agreement.

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Unless the parties agree otherwise, all disputes shall be submitted to an arbitration panel composed of two arbitrators and an umpire chosen in accordance with the procedures set forth below.

The members of the arbitration panel shall be disinterested persons who are (a) current or former officers of life insurance or reinsurance companies, other than the parties to this Agreement, their affiliates or subsidiaries, or (b) professionals with no less than 10 years of experience in or serving the life insurance or reinsurance industries; provided, however, the experience in the life insurance or reinsurance industries was not as an employee of the parties to this Agreement, their affiliates or subsidiaries.

The party requesting arbitration (hereinafter referred to as the "claimant") shall appoint an arbitrator and give written notice thereof by certified mail or by a courier service producing evidence of receipt by the receiving party, to the other party (hereinafter referred to as the "respondent") together with its notice of intention to arbitrate. Within 30 days after receiving such notice, the respondent shall also appoint an arbitrator and notify the claimant thereof by certified mail or by a courier service producing evidence of receipt by the receiving party. If the respondent fails to appoint an arbitrator within 30 days after receiving a notice of intention to arbitrate, the claimant's arbitrator shall appoint an arbitrator on behalf of the respondent.

Before instituting a hearing, the two arbitrators so appointed shall choose an umpire. If, within 20 days after the appointment of the arbitrator chosen by the respondent, the two arbitrators fail to agree upon the appointment of an umpire, the parties agree to refer the matter to Judicial Arbitration and Mediation Services ("JAMS") for the appointment of the umpire. In the event the matter is referred to JAMS, as respects the umpire, the parties agree to waive the requirement that the umpire candidates be (a) current or former officers of life insurance or reinsurance companies, other than the parties to this Agreement, their affiliates or subsidiaries, or (b) professionals with no less than 10 years of experience in or serving the life insurance or reinsurance industries, and agree to the appointment of a retired state or federal judge as the umpire.

JAMS shall send the parties a list of umpire candidates comprised of at least five (5) retired state or federal judges. JAMS shall also provide each party with a brief description of the background and experience of each umpire candidate.

Within seven (7) calendar days of service upon the parties of the list of names, each party may strike two (2) names, and shall rank the remaining umpire candidates in order of preference. The remaining umpire candidate with the highest composite ranking shall be appointed the umpire.

Any disclosures regarding the selected umpire shall be made as required by law or within ten (10) calendar days from the date of appointment. Such disclosures may be provided in electronic format, provided that JAMS will produce a hard copy to any party that requests it. The parties and their representatives shall disclose to JAMS any circumstance likely to give rise to justifiable doubt as to the umpire's impartiality or independence, including any bias or any financial or personal interest in the result of the Arbitration or any past or present relationship with the parties or their representatives. The obligation of the umpire, the Parties and their representatives to make all required disclosures continues throughout the Arbitration process.

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Within 30 days after the notice of appointment of all arbitrators, the panel shall schedule an organizational meeting, and determine a timely period for discovery, discovery procedures and schedules for hearings. The panel shall have the power to fix all procedural rules relating to the arbitration proceeding.

The customs and practices of the life insurance and reinsurance industries may be considered by the Panel if the Agreement does not address an issue raised by the parties or the Panel finds the Agreement to be ambiguous, but only insofar as such customs and practices are consistent with the terms of this Agreement, and only then if it is permitted by the applicable law that the panel is bound to follow.

The Panel will award the remedy sought by the party seeking relief to the extent the remedy is provided for in this Agreement or otherwise reasonably compensates the damaged party for the economic effect of any demonstrated breach. Such remedies may include, but will not be limited to, monetary damages, revisions to the terms of the Agreement, including adjustments to premiums or allowances paid or to be paid, or any combination of the foregoing. In no event shall the Panel have the authority to award punitive or exemplary damages.

The Panel shall issue an order, appropriate for confirmation in a court of competent jurisdiction, to resolve all matters in dispute. In addition, the Panel shall issue a written opinion setting forth the reasons for the award, with citations to the record of the hearing that support the reasoning.

The decision of the Panel will be final and binding upon the parties and their respective successors and assigns. Each party hereby consents to the entry of a judgment confirming or enforcing the award in the United States District Court for the District of Minnesota and/or in any other court of competent jurisdiction.

Within 20 days after the transmittal of an award, either party, upon notice to the other party, may request the Panel to correct any clerical, typographical, or computational errors in the award. The other party will be given ten days to respond to the request. The Panel will dispose of the request within 20 days of its receipt of such request and any response thereto. The Panel will not be empowered to re-determine the merits of any claim already decided.

Each party will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Bear its own fees and expenses in connection with the arbitration, including the fees of any outside counsel,
its party appointed arbitrator and witness fees, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Share equally in the fees of the umpire, the fees or charges, if any, related to the appointment of the umpire
by JAMS, and the costs of the arbitration, such as hearing rooms, court reporters, etc.

It is the intent of the parties that these arbitration provisions replace and be in lieu of any statutory arbitration provision, if permitted by law.

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**Article 11** 

11.1 **Insolvency** 

A party to this Agreement will be deemed "insolvent" when it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory
successor (hereinafter referred to as the "Authorized Representative") **  of its properties or assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Is adjudicated as bankrupt or insolvent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Files or consents to the filing of a petition in bankruptcy, seeks reorganization or an arrangement with
creditors or takes advantage of any bankruptcy, dissolution, liquidation, rehabilitation, conservation or similar law or statute; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Becomes the subject of an order to rehabilitate or an order to liquidate as defined by the insurance code of
the jurisdiction of the party's domicile.

In the event of the insolvency of the Company, all reinsurance ceded, renewed or otherwise becoming effective under this Agreement will be payable by the Reinsurer directly to the Company or to its Authorized Representative on the basis of the liability of the Company for benefits under the Reinsured Policies without diminution because of the insolvency of the Company.

The Reinsurer will be liable only for benefits reinsured as benefits become due under the terms of the Reinsured Policies and will not be or become liable for any amounts or reserves to be held by the Company as to the Reinsured Policies or for any damages or payments resulting from the termination or restructure of the Policies that are not otherwise expressly covered by this Agreement. The Company or its Authorized Representative will give written notice to the Reinsurer of all pending claims against the Company on any Reinsured Policies within a reasonable time after filing in the insolvency proceedings. While a claim is pending, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceedings where the claim is to be adjudicated, any defense or defenses which it may deem available to the Company or its Authorized Representative.

The expense incurred by the Reinsurer will be chargeable, subject to court approval, against the Company as part of the expense of its insolvency proceedings to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer. Where two or more reinsurers are involved in the same claim and a majority in interest elect to interpose a defense to such claim, the expense will be apportioned in accordance with the terms of the Agreement as though such expense had been incurred by the Company.

In the event of the insolvency of the Reinsurer, the Company may cancel this Agreement for new business by promptly providing the Reinsurer or its Authorized Representative with written notice of cancellation, to be effective as of the date on which the Reinsurer's insolvency is established by the authority responsible for such determination. Any requirement for a notification period prior to the cancellation of the Agreement would not apply under such circumstances.

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In addition, in the event of the insolvency of the Reinsurer, the Company may provide the Reinsurer or its Authorized Representative with written notice of its intent to recapture all reinsurance in force under this Agreement regardless of the duration the reinsurance has been in force or the amount retained by the Company on the Reinsured Policies. The effective date of a recapture due to insolvency will be at the election of the Company and at any date after the date on which the Reinsurer's insolvency is established by the authority responsible for such determination. If the Company elects to recapture reinsurance under this Article, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.

In the event of the insolvency of either party, the rights or remedies of this Agreement will remain in full force and effect.

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**Article 12** 

12.1 **Taxes and Expenses** 

No taxes, allowances, or expense will be paid by the Reinsurer to the Company for any Reinsured Policy, except as specifically referred to in this Agreement.

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**Article 13** 

13.1 **Entire Agreement** 

This Agreement and the Exhibits hereto constitute the entire agreement between the parties with respect to the business reinsured hereunder and supersede any and all oral or written prior or contemporaneous representations, warranties, statements of intent, courses of dealing, agreements or understandings between the parties pertaining to the subject matter of this Agreement, including the Reinsurer's right to increase rates as set forth in this Agreement and the Exhibits ("Understandings"). There are no Understandings between the parties other than as expressed in this Agreement and the Exhibits hereto. In the event of any express conflict between the Agreement and the Exhibits hereto, the Exhibits hereto will control.

Any change or modification to this Agreement and the Exhibits hereto will be null and void unless made by written amendment and signed by both parties.

13.2 **Inspection of Records** 

The Reinsurer or its duly appointed representatives will have access to records of the Company, whether written or electronic, and including system view access, for the purpose of inspecting, auditing and photocopying those records.

The Reinsurer's inspection, audit or photocopying of records will be limited to records related to the business reinsured under this Agreement, including but not limited to, underwriting, claims and administration and will not apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) To records related to the reinsurance bidding process for this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) To privileged information; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) During the pendency of any related arbitration.

The Company or its duly appointed representatives will have access to records of the Reinsurer, whether written or electronic, and including system view access, for the purpose of inspecting, auditing and photocopying those records. The Company's inspection, audit or photocopying of records will be limited to records related to the administration of this Agreement and will not apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) To records related to facultative cessions for which no offer was made by the Reinsurer or accepted by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) To privileged information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) During the pendency of any related arbitration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) To records related to the reinsurance bidding process for this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h) To financial and other records related to the Agreement's performance;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) To records related to any retrocession, securitization, or structured, asset-backed or asset-based financing by the Reinsurer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) To analysis related to the Company's business procedures and practices.

Such access will be provided remotely or at the office of the party being inspected and will be during reasonable business hours. Subject to the limitations set forth above, assuming the party inspecting records has continued to perform its undisputed portion of its obligations under this Agreement, the party being inspected may not withhold access to information and records on the grounds that the inspecting party is in breach.

The right of access as specified above will survive until all of the obligations under this Agreement have terminated or been fully discharged.

13.3 **Utmost Good Faith** 

All matters with respect to this Agreement require the utmost good faith of each of the parties.

13.4 **Confidentiality** 

"Confidential Information" includes, but is not limited to, trade secrets of a party, which includes but is not limited to, underwriting manuals and guidelines, applications, reporting data, contract forms, the Company's premium rates, or the Reinsurer's premium rates and allowances, but shall not include the existence of this Agreement and the identity of the parties.

The parties will keep confidential and not disclose or make competitive use of any shared Confidential Information, as defined below, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The information becomes publicly available or is obtained other than through unauthorized disclosure by the
party seeking to disclose or use such information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The information is independently developed by the recipient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The disclosure is required for the purpose of any securitization, or structured, asset-backed or asset-based
financing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) The disclosure is required for the Reinsurer's retrocession purposes; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) The disclosure is required by law.

Unless restricted by another agreement between the parties, nothing herein shall preclude either party from using Confidential Information for ordinary business operations, developing pricing models or actuarial analyses.

Additionally, Confidential Information may be shared by either party on a need-to-know basis with its employees, affiliates, third party service providers, auditors, consultants, or regulators, provided the recipient is under obligations of confidentiality at least as stringent and comprehensive as those set forth in this Agreement, or in connection with the dispute process specified in this Agreement. Other than as specified in this Article, the parties may not disclose Confidential Information with any third-party, including but not limited to, consultants, advisors, brokers, reinsurers, or third-party service providers, other than as specified above, without the written consent of the disclosing party.

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"Non-Public Personal Information" is personally identifiable medical, financial, and other personal information about proposed, current and former applicants, policy owners, contract holders, insureds, annuitants, claimants, and beneficiaries of Reinsured Policies or contracts issued by the Company, and their representatives, that is not publicly available. Non-Public Personal Information does not include de-identified personal data, i.e., information that does not identify, or could not reasonably be associated with, an individual. Non-Public Personal Information shall be considered Confidential Information for purposes of this Agreement.

The Reinsurer and its representatives and service providers will protect the confidentiality and security of Non-Public Personal Information, as defined above, by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Holding all Non-Public Personal Information in strict confidence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Maintaining appropriate measures that are designed to protect the privacy, security, integrity, availability
and confidentiality of (and to protect against unauthorized access to or use of) Non-Public Personal Information, as further set forth herein and in all applicable laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h) Disclosing and using Non-Public Personal Information received under
this Agreement for the sole purposes of carrying out the Reinsurer's obligations under this Agreement, for purposes of retrocession, or as may be required or permitted by law.

The Company will obtain, as required by law, appropriate consents from its insureds to enable the parties to fully exercise their rights and perform their obligations under this Agreement.

In recognition of the importance of protecting consumer Non-Public Personal Information (including but not limited to health and financial information) and in consideration of the mutual understandings and undertakings set forth herein, the parties agree to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) The Company and the Reinsurer are aware of and in compliance in all material respects with their
responsibilities and obligations under applicable state and federal laws, rules, and regulations, including but not limited to the Gramm Leach Bliley Act of 1999 (the "Act") and applicable Federal and state laws implementing the Act. The
Company and the Reinsurer will only use Non-Public Personal Information as permitted by law, and Reinsurer will only use Company's Non-Public Personal Information
to fulfill its obligations as set forth under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) The Company agrees to comply with the applicable provisions of the Health Insurance Portability and
Accountability Act ("HIPAA") and the requirements of any regulations promulgated there under including, without limitation, the federal privacy regulations as contained in 45 CPR Part 160 and 164 (the "Federal Privacy
Regulations"). The Reinsurer will not disclose any protected health information (as defined in 45 CFR 164.50I or as defined by any applicable state law) it receives from the Company to anyone other than the Reinsurer, the Reinsurer's
affiliates, legal counsel, auditors, consultants, agents, third party administrators, regulators, rating agencies and any other entities to whom such disclosure is mandated by applicable law or regulation, and the Company will not provide any
protected health information to the Reinsurer that is not directly related to the Reinsurer's obligations pursuant to this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k) All Company Non-Public Personal Information shall remain the sole and
exclusive property of Company, and no right, title or interest in the Non-Public Personal Information shall be conveyed by its release. No Company Non-Public Personal
Information shall be sold, assigned, leased or otherwise disposed of to third parties by Reinsurer, or exploited by or on behalf of Reinsurer, for the benefit of Reinsurer or any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l) If Reinsurer is required by law (i.e., a civil, criminal, or regulatory inquiry, investigation, subpoena, or
summons by foreign, federal, state, or local authorities) to disclose any Company Non-Public Personal Information, Reinsurer shall, to the extent permitted by applicable law, notify Company promptly and
cooperate with Company, at Company's sole expense, in responding to the request, which could include seeking a reasonable protective order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m) Reinsurer agrees to return (or if specifically requested to do so by Company, destroy and provide proof of
destruction) Company's Non-Public Personal Information or any part thereof (i) upon request of Company, or (ii) subject to any retention obligations contained elsewhere in this Agreement, upon
Reinsurer's determination that it no longer has a need for such information. Reinsurer shall implement and follow secure disposal procedures in accordance with any and all applicable federal and state laws and regulations. Reinsurer may
maintain additional limited copies of any Company Non-Public Personal Information for the limited purposes of backup and disaster recovery and in connection with its document retention policies; however, all
protections under this Agreement will be extended to such Non-Public Personal Information, and further use and disclosure may only be permitted for backup and disaster recovery purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n) If there is a breach or threatened breach of the provisions of this Section 13.4, the non-breaching party may not have an adequate remedy in money or damages and may be entitled to injunctive relief and/or specific performance; provided, however, no specification in this Agreement of any particular
remedy shall be construed as a waiver or prohibition of any other remedies in the event of a breach or threatened breach of this Agreement.

This Section 13.4 shall survive termination of this Agreement.

13.5 **Security** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Security of Confidential Information. The Reinsurer shall, and shall ensure that its personnel and third-party
contractors, safeguard and prevent the unauthorized disclosure of the Company's Confidential Information as defined in and in accordance with Section 13.4 of this Agreement, Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Regulatory Compliance. The Reinsurer shall, and shall ensure that its personnel and third-party contractors,
(i) comply with applicable foreign, federal, state and local laws, rules, and regulations relating to the privacy, confidentiality, protection, retention, continuity, availability, and security of the Company's Confidential Information,
and (ii) only access and use the Company's Confidential Information as necessary to fulfill its obligations as set forth under this Agreement or as otherwise permitted by this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) NIST Compliance. The Reinsurer agrees that all systems and technologies of the Reinsurer, the Reinsurer
personnel, and third-party contractors which store, access, transmit, create, receive or maintain the Company's Confidential Information are compliant with best practice cyber security standards such as, but not limited to, NIST Cyber-Security
Framework's standards and controls (<u>http://www.nist.gov/cyberframework</u>), Information Security ISO/IEC 27002 standards, and Control Objectives for information and Related Technologies (COBIT).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Incident Notification. The Reinsurer shall notify the Company promptly and without undue delay, and in
accordance with applicable law, of any use or disclosure of the Company's Confidential Information that is not authorized by this Agreement. Notification shall be communicated to the designated the Company contact by telephone (920-628-2359), and subsequently via written letter (Attn: Privacy Office) and email (privacy@thrivent.com), and shall include the approximate date and time of the occurrence
and a summary of relevant facts, including a description of the measures being taken to address the occurrence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Verification of Breach Resolution. The Reinsurer shall provide contemporaneous updates relating to the
corrective actions being taken to resolve any such data breach, in addition to mitigating action to prevent future similar data breaches from occurring. If appropriate, the Company may request, and the Reinsurer shall provide at no additional cost
to the Company, a third-party verification of such breach resolution before resuming or conducting future business with the Reinsurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Security Accreditation. Upon request by the Company, no more than once per year, the Reinsurer shall provide
the Company with a copy of its current certified SOC 2 type 2 Audit Report for systems of the Reinsurer and the Reinsurer personnel (or comparable industry-standard successor report prepared by independent third-party auditor).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Right to Perform Due Diligence and Assessments. The Reinsurer's certified SOC 2 type 2 Audit Report
confirms the adequacy and effectiveness of the Reinsurer's control environment. The Reinsurer agrees to answer additional questions by the Company if the SOC 2 report has not answered the questions appropriately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Reinsurer agrees to establish, implement and periodically test commercially reasonable business continuity,
cybersecurity and disaster recovery plans as are customary in the case of companies in similar lines of business of comparable size, complexity and type as the Reinsurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Location and Control of Services. The method and means of providing the Services shall be under the exclusive
control, management, and supervision of the Reinsurer. The services (including data storage), shall be provided in the continental United States, Switzerland, and the European Union countries, and on computing equipment and data storage device
residing therein.

13.6 **OFAC Compliance** 

The parties represent that they are using, and shall use, best efforts to continue to be in compliance with all laws, regulations, judicial and administrative orders applicable to the Reinsured Policies as they pertain to the sanction laws administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC"), as such laws may be amended from time to time (collectively the "Laws"). Neither party shall be required to take any action under this Agreement that would violate said Laws, including, but not limited to, making any payments in violation of the Laws.

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Should either party discover or otherwise become aware that a reinsurance transaction has been entered into or a payment has been made in violation of the Laws, the party who first becomes aware of the violation of the Laws shall notify the other party, and the parties shall cooperate in order to take all necessary corrective actions.

The parties agree that such reinsurance transaction shall be null, void and of no effect from its inception, to the same extent as if the reinsurance transaction had never been entered into. In such event, each party shall be restored to the position it would have occupied if the violation had not occurred, including the return of any payments received, unless prohibited by law.

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**Article 14** 

14.1 **Representations and Warranties** 

The Company makes no representations and warranties as to the future experience or profitability arising from the Reinsured Policies.

Each party represents and warrants that as of the Effective Date of this Agreement and at the time of executing this Agreement, if later, it is solvent on a statutory basis in all states in which it does business or is licensed.

This Article will not terminate or expire until all Reinsured Policies have been discharged or terminated in full.

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**Article 15** 

15.1 **Material Changes** 

"Material" or "materially" for purposes of this Agreement will mean facts that a prudent reinsurer or insurer would consider as reasonably likely to affect the Reinsurer's experience under the Agreement. Prior to the execution of this Agreement, the Company has provided to the Reinsurer the Business Guidelines for use in its assessment of the risks covered hereunder. The Company represents and warrants that, to the best of its knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) It has disclosed to the Reinsurer all information which is material to the risks being assumed hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The Business Guidelines were complete and accurate when disclosed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) There has been no material change in the Business Guidelines between the "as of" dates of the
information and the date of Agreement execution.

This Article will not terminate or expire until all Reinsured Policies have been discharged or terminated in full.

All Reinsured Policies will be issued and administered in accordance with the Business Guidelines. The Company will notify the Reinsurer of any change that materially affects the reinsured business.

This Agreement will not cover policies affected by such material changes unless the Reinsurer has agreed in writing in advance with the material changes. In the event the Reinsurer does not respond within thirty (30) days, it shall be deemed to have accepted such proposed changes.

If Reinsured Policies are not covered due to an unapproved material change, all payments between the Company and the Reinsurer with respect to the affected Policies shall be refunded, excluding items relating to reserves or interest on reserves. No liability shall remain with the Reinsurer with respect to such Policies.

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**Article 16** 

16.1 **Duration of Agreement** 

This Agreement is unlimited as to its duration.

The Reinsurer or the Company may terminate this Agreement for new business at any time by giving three calendar months' prior written notice or pursuant to Article 15.1 (Material Changes) of this Agreement. If, however, notice of termination is given during the three calendar month period following risk commencement date of this Agreement, termination for new business will become effective on the last day of that calendar quarter. During the notice period, the Company will continue to cede and the Reinsurer will continue to be liable for new policies covered under the terms of this Agreement.

The Reinsurer will remain liable for all Reinsured Policies in force as of the date of the termination, until their natural expiration, unless the parties mutually decide otherwise or as specified otherwise in this Agreement. All provisions of this Agreement will survive its termination to the extent necessary to carry its purpose.

If the Reinsurer has made a facultative offer prior to the termination date of this Agreement and the Company has accepted that facultative offer before the termination of the Reinsurer's offer, the Reinsurer will be liable to honor the facultative offer even if the effective date of the policy falls beyond the termination date of this Agreement.

16.2 **Severability** 

Determination that any provision of this Agreement is invalid or unenforceable will not affect or impair the validity or the enforceability of the remaining provisions of this Agreement.

16.3 **Construction ** ** 

This Agreement will be construed and administered without regard to authorship and without any presumption or rule of construction in favor of either party. This Agreement is between sophisticated parties, each of which has reviewed the Agreement and is fully knowledgeable about its terms and conditions.

16.4 **Credit for Reinsurance** 

The parties intend that the Company will receive statutory reserve credit in its state of domicile for reinsurance provided under this Agreement. The parties agree to use reasonable efforts to ensure that such reserve credit will remain available to the Company.

If the Company loses statutory reserve credit in part or in total due to a change in law or regulation (or a change in the interpretation or application of existing law or regulation by a regulator) or due to a failure by the Reinsurer to maintain in effect a required license or accreditation in the Company's state of domicile (hereinafter a "Reserve Credit Event"), then the parties will take the steps specified below. The parties will provide prompt notice of the occurrence of any Reserve Credit Event.

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Upon notification of the occurrence of any Reserve Credit Event, the Reinsurer will have the right to cure the Reserve Credit Event in a manner that eliminates the need for or enables the Company to continue to receive statutory reserve credit in its state of domicile for the reinsurance ceded under this Agreement. The Company will not unreasonably deny any cure proposal presented by the Reinsurer. Without limiting potential cure options, the Reinsurer's cure may be implemented by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Modifying the settlement terms of this Agreement during the Reserve Credit Event to provide for monthly
settlements in arrears during the pendency of the Reserve Credit Event; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Modifying the settlement terms of this Agreement during the Reserve Credit Event to provide for settlements on
a funds withheld basis during the pendency of the Reserve Credit Event; or **  

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Transferring the reinsurance provided under this Agreement to another reinsurer by assignment of this Agreement
or otherwise, provided that the alternative reinsurer has an A.M. Best rating of (A) or better at the time of the transfer and that the alternative reinsurer accepts transfer by assignment of this Agreement (and all amendments) without any
material modification to the substantive terms of the Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) A combination of the foregoing or comparable approaches.

If the Company loses statutory reserve credit in part or in total due to a change in law or regulation (or a change in the interpretation or application of existing law or regulation by a regulator) and the Reserve Credit Event is not cured as set forth above within 120 days of notice of a Reserve Credit Event, then the Reinsurer will establish and maintain collateral. However, the cost of establishing and maintaining that collateral will be shared equally by the Company and the Reinsurer.

If the Company loses statutory reserve credit in part or in total due to a failure by the Reinsurer to maintain in effect a required license or accreditation in the Company's state of domicile and the Reserve Credit Event is not cured as set forth above within 45 days of notice of a Reserve Credit Event, then the Reinsurer will establish and maintain collateral permitting the Company to receive statutory reserve credit in its state of domicile for reinsurance provided under this Agreement during the pendency of the Reserve Credit Event. However, the cost of establishing and maintaining that collateral will be borne solely by the Reinsurer.

If a Reserve Credit Event is not cured and the Reinsurer fails to establish or maintain collateral as set forth above, then the Company may recapture the business ceded under this Agreement. In that event, the Company and the Reinsurer will negotiate in good faith the terms of a mutually agreed recapture of the reinsurance provided hereunder, including payment of unearned premiums, net of outstanding balances, which will be paid by the party with the positive balance.

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16.5 **Non-Waiver** 

A waiver by either party of any violation, or the default by the other party in its adherence to any term of this Agreement, will not constitute a waiver of any other or subsequent violation or default. No prior transaction or dealing between the parties will establish any custom, usage or precedent waiving or modifying any provision of the Agreement. The failure of either party to enforce any part of this Agreement will not constitute a waiver of any right to do so.

16.6 **Retrocession** 

The Reinsurer may reinsure or retrocede any risks or business assumed hereunder.

16.7 **Governing Law** 

This Agreement shall be governed by the laws of the State of Wisconsin.

16.8 **Interest** 

Each party reserves the right to charge interest on undisputed overdue balances, pursuant to the terms of this Agreement. If applicable, interest will be calculated according to the terms specified in Exhibit C.

16.9 **No License of Name** 

Neither Party shall use the other Party's trade name, logos, trademark, service marks, or any related property, or refer to or identify the other Party, in any advertising, publicity releases (including references on any customer lists or posting on public facing web-sites), or promotional or marketing correspondence to others.

16.10 C **ounterparts** 

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one Agreement, and any of the parties hereto may execute this Agreement by signing any such counterpart. The parties agree that transmission of signature on the original signature page via electronic means, either by facsimile or electronic mail, shall constitute valid execution of this Agreement and that there shall be no obligation to exchange copies of such original "wet" signatures. When this Agreement has been fully executed by the Company and the Reinsurer, it will become effective as of the Effective Date specified in Exhibit A.

I2526854US-24 (01-01-2025) (QT27458US24) 36

------

**Execution** 

Signed for and on behalf of **Thrivent Financial for Lutherans**

---

| | | | |
|:---|:---|:---|:---|
| By: | ![LOGO](g95392dsp249a.jpg) | By: | ![LOGO](g95392dsp249b.jpg) |
| Title: | <br> SVP, Chief Actuary | Title: | <br> Vice President, Solutions Pricing & Development |
| Date: | 25-Jul-2025 \| 08:44:51 EDT | Date: | 30-Jul-2025 \| 10:23:06 EDT |

---

Signed for and on behalf of **Swiss Re Life & Health America Inc.**

---

| | | | |
|:---|:---|:---|:---|
| By: | ![LOGO](g95392dsp249c.jpg) | By: | ![LOGO](g95392dsp249d.jpg) |
| Title: | <br> SVP, Key Account Manager | Title: | <br> SVP, Key Account Manager |
| Date: | 23-Jul-2025 \| 10:00:36 EDT | Date: | 23-Jul-2025 \| 10:04:46 EDT |

---

I2526854US-24 (01-01-2025) (QT27458US24) 37

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**Exhibit A** 

**Business Covered** 

**Agreement Effective Date:** 

January 1, 2025. The commencement dates for specific plans are shown below.

**Coverage:** 

The policies on the plans shown below which have policy issue dates falling in the period that begins with the Commencement Date and ends with the Termination Date and that qualify for automatic reinsurance are covered according to the Basis specified below, provided that the policies are issued to legal permanent residents of the United States, Canada, Puerto Rico, or Guam, or the policies are issued to insureds that meet the "Field Guidelines for Non-U.S. Persons" which were provided to the Reinsurer and are listed in Exhibit A-1, Business Guidelines. Policies may be backdated up to 6 months to save age.

Professional Athletes will not be reinsured on an automatic basis. A Professional Athlete is defined as an individual who is a team member, which includes players, coaches, trainers, and managers, in any of the five major U.S. professional sports—Major League Baseball (MLB), Major League Soccer (MLS), National Football League (NFL), the National Basketball Association (NBA), or National Hockey League (NHL).

**Basis:**

Reinsurer Share: 20.1% on a First Dollar Quota Share basis (30% of the total reinsurance) not to exceed the maximum Automatic Acceptance Limit stated in Exhibit E. If the Company has filled its maximum retention on the life as specified in Exhibit D, the percentage the Reinsurer will automatically accept will increase to 30%.

Any change in the net amount at risk due to changes in the cash value applicable to the policy will be shared proportionately between the Company and its reinsurers.

**Plans, Riders and Benefits:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Product Identification** | **Form<br>No.** | **Commencement<br>Date** | **Issue Ages (ALB)** | **Issue Ages (ALB)** | **Issue Ages (ALB)** | **Issue Ages (ALB)** |
| **Product Identification** | **Form<br>No.** | **Commencement<br>Date** | **Non-NY** | **Non-NY** | **NY** | **NY** |
| **Product Identification** | **Form<br>No.** | **Commencement<br>Date** | **Smoker** | **Non<br>Smoker** | **Smoker** | **Non<br>Smoker** |
|  10 Year Term |  | January 1, 2025 | 18-75 | 18-75 | 18-70 | 18-70 |
|  15 Year Term |  | January 1, 2025 | 18-70 | 18-70 | 18-65 | 18-65 |
|  20 Year Term |  | January 1, 2025 | 18-65 | 18-65 | 18-60 | 18-60 |
|  30 Year Term |  | January 1, 2025 | 18-50 | 18-55 | 18-50 | 18-50 |
|  Accelerated Death Benefit for Terminal Illness Rider\* |  | January 1, 2025 | Follows base policy | Follows base policy | Follows base policy | Follows base policy |

---

\* Accelerated Death Benefit for Terminal Illness Rider is reinsured at no additional cost. Disability Waiver not reinsured.

I2526854US-24 (01-01-2025) (QT27458US24) 38

------

For products sold with a term conversion privilege, there are two options:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Basic term conversion – allows for conversion from issue date to end of day before 5<sup>th</sup> contract anniversary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Extended term conversion – allows for conversion from issue date to end of day before the earlier of
(i) contract anniversary at end of level period; or (ii) when the insured reaches attained age 70 for issue ages 18 – 64.

**Company's State of Domicile:** Wisconsin

I2526854US-24 (01-01-2025) (QT27458US24) 39

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**Exhibit A-1** 

**Business Guidelines** 

The Company affirms that the following have been supplied to the Reinsurer and are in use as of the effective date of this Agreement:

1. Policy Form(s)

*Term IV Contract – ICC18 L-CT-LT.pdf; Term IV Contract Schedule Pages – ICC18 L-CT-LT-CS.pdf; Term IV Contract Settlement Option Pages – ICC18 LM-SO-SOPT.pdf* 

2. Policy Application Form(s)

*Term IV Application – IC_ICC18-29883_Form_THRV-131624143.pdf* 

3. Underwriting Guidelines and Rules

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Life Insurance Age and Amount Grid

*Life_Insurance_Age-Amount_Grid* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Build Charts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Preferred Criteria

*Preferred Review 2018.xlsx* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Field Guidelines for Non-U.S. Persons **  

*Field_Guidelines_for_Non-U.S.Persons.pdf* 

4. LTIV Product Paper

5. Declaration of Insurability

*Term IV DOI - IC_ICC18 29884_FORM_THRV-131630152.pdf; Term IV DOI - IC_ICC18 29907_FORM_THRV-131630152.pdf; Term IV DOI - IC_ICC18 29908_FORM_THRV-131630152.pdf; Term IV DOI - IC_ICC18 29909_FORM_THRV-131630152.pdf; Term IV DOI - IC_ICC18 29910_FORM_THRV-131630152.pdf* 

The Company affirms that the following Underwriting Manual is in use as of the effective date of this Agreement:

Swiss Re's LifeGuide

I2526854US-24 (01-01-2025) (QT27458US24) 40

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**Exhibit A-2** 

**Facultative Submissions** 

The Company may submit on a facultative basis to the Reinsurer any application for a policy which meets the conditions outlined in Article 2.2. by sending to the Reinsurer an Application for Reinsurance, a sample of which is included as Exhibit B. The Application for Reinsurance will include copies of all underwriting evidence that is available for risk assessment, including copies of the application for insurance, medical examiners' reports, attending physicians' statements, inspection reports, and other papers bearing on the insurability of the risk as requested by the Reinsurer. The Company will also notify the Reinsurer of any outstanding underwriting requirements at the time of the facultative submission. Any subsequent information pertinent to the risk assessment will be transmitted to the Reinsurer immediately.

After consideration of the Application for Reinsurance and related papers, the Reinsurer will promptly inform the Company of its underwriting decision. The Reinsurer's facultative offer will expire at the end of 120 days, unless otherwise specified by the Reinsurer. If the Company accepts the Reinsurer's offer and the policy is placed in force in accordance with the Business Guidelines provided to the Reinsurer, the Company will duly notify the Reinsurer according to the New Business report specified in Exhibit F. The Reinsurer's share of liability for such policy will commence at the time specified in Article 4.2 of the Agreement.

If any risk is submitted to more than one reinsurer for consideration, the Company's rules for placement of facultative cases will apply.

I2526854US-24 (01-01-2025) (QT27458US24) 41

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**Exhibit B**![LOGO](g95392dsp254.jpg)

I2526854US-24 (01-01-2025) (QT27458US24) 42

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**Exhibit C** 

**General Terms** 

1. **Premium Tax:** 

The Reinsurer will not reimburse the Company for premium taxes.

2. **Dividend Payments:** 

The Reinsurer will not reimburse the Company for dividends paid to policyholders.

3. **Policy Loans:** 

The Reinsurer will not participate in policy loans or other forms of indebtedness as respects the Reinsured Policies.

4. **Cash Surrender Values:** 

The Reinsurer will not reimburse the Company for cash surrender values paid to the policyholder.

5. **Reinsurance Limits:** 

**Minimum Initial Automatic Reinsurance Limit ceded to the Reinsurer:** $0

**Minimum Final Automatic Reinsurance Limit ceded to the Reinsurer:** $0

**Minimum Initial Facultative Reinsurance Limit:** $500,000 (face amount) through age 69

$250,000 (face amount) age 70 and over

6. **Interest Calculation on Late Payments:** Interest will accrue from the due date at a rate equal to the
Secured Overnight Financing Rate (SOFR) 180 day average as reported on the New York Federal Reserve website on the due date or, if the due date is not a business day, on the next business day after the due date, plus 25 basis points per annum to be
compounded and adjusted every three months after such due date.

I2526854US-24 (01-01-2025) (QT27458US24) 43

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**Exhibit C-1** 

**Rates and Terms for Level Term IV (10, 15, 20, and 30 year level term)** 

1. **Reinsurance Structure:** YRT

2. **Age Basis:** Last

3. **Premium Mode:** Annual in Advance

4. **Billing Frequency:** Monthly

5. **Premiums:** 

**Basic Premiums:** 

The Company will pay to the Reinsurer a basic premium calculated by multiplying the net amount at risk of the Reinsured Policy, as defined in the Net Amounts At Risk provision of this Exhibit, by the appropriate rate from the 2015 VBT Select & Ultimate, Gender and Smoker distinct set of rates which have been included at the end of this Exhibit, subject to the percentages shown below. Automatic reinsurance will use the percentages shown below for Full Underwriting or Accelerated Underwriting, whichever is applicable. Facultative reinsurance will use the percentages shown below for Full Underwriting. The Company will continue to pay the appropriate premium to the Reinsurer as long as the Reinsured Policy is in force.

I2526854US-24 (01-01-2025) (QT27458US24) 44

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**Exhibit C-1** 

The following percentages will be applied to the reinsurance premiums payable hereunder:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Full Underwritting** | **Full Underwritting** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All Ages** | **18-50** | **51 +** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 64% | 52% |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 74% | 63% |
|  10 Year<br> Male | Preferred Non-tob | 0% | 91% | 75% |
|  10 Year<br> Male | Standard Non-tob | 0% | 122% | 94% |
|  10 Year<br> Male | Preferred Tob | 0% | 74% | 62% |
|  10 Year<br> Male | Standard Tob | 0% | 108% | 78% |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 60% | 54% |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 69% | 64% |
|  10 Year<br> Female | Preferred Non-tob | 0% | 83% | 75% |
|  10 Year<br> Female | Standard Non-tob | 0% | 109% | 95% |
|  10 Year<br> Female | Preferred Tob | 0% | 71% | 64% |
|  10 Year<br> Female | Standard Tob | 0% | 102% | 87% |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 52% | 49% |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 62% | 59% |
|  15 Year<br> Male | Preferred Non-tob | 0% | 75% | 65% |
|  15 Year<br> Male | Standard Non-tob | 0% | 97% | 85% |
|  15 Year<br> Male | Preferred Tob | 0% | 64% | 59% |
|  15 Year<br> Male | Standard Tob | 0% | 89% | 75% |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 51% | 51% |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 60% | 60% |
|  15 Year<br> Female | Preferred Non-tob | 0% | 71% | 69% |
|  15 Year<br> Female | Standard Non-tob | 0% | 92% | 89% |
|  15 Year<br> Female | Preferred Tob | 0% | 59% | 62% |
|  15 Year<br> Female | Standard Tob | 0% | 89% | 86% |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 51% | 48% |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 58% | 55% |
|  20 Year<br> Male | Preferred Non-tob | 0% | 72% | 64% |
|  20 Year<br> Male | Standard Non-tob | 0% | 91% | 82% |
|  20 Year<br> Male | Preferred Tob | 0% | 65% | 63% |
|  20 Year<br> Male | Standard Tob | 0% | 87% | 80% |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 49% | 49% |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 56% | 57% |
|  20 Year<br> Female | Preferred Non-tob | 0% | 68% | 65% |
|  20 Year<br> Female | Standard Non-tob | 0% | 87% | 82% |
|  20 Year<br> Female | Preferred Tob | 0% | 63% | 64% |
|  20 Year<br> Female | Standard Tob | 0% | 93% | 89% |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 51% | 49% |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 58% | 55% |
|  30 Year<br> Male | Preferred Non-tob | 0% | 70% | 66% |
|  30 Year<br> Male | Standard Non-tob | 0% | 86% | 79% |
|  30 Year<br> Male | Preferred Tob | 0% | 70% | 71% |
|  30 Year<br> Male | Standard Tob | 0% | 94% | 89% |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 49% | 52% |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 58% | 55% |
|  30 Year<br> Female | Preferred Non-tob | 0% | 69% | 66% |
|  30 Year<br> Female | Standard Non-tob | 0% | 87% | 82% |
|  30 Year<br> Female | Preferred Tob | 0% | 67% | 71% |
|  30 Year<br> Female | Standard Tob | 0% | 99% | 101% |

---

I2526854US-24 (01-01-2025) (QT27458US24) 45

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**Exhibit C-1** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Accelerated Underwriting** | **Accelerated Underwriting** | **Year 1** | **Level Period - Years 2+** | **Level Period - Years 2+** |
| **Term** | **Class** | **All Ages** | **18-50** | **51+** |
|  10 Year<br> Male | Preferred best Non-tob | 0% | 73% | 58% |
|  10 Year<br> Male | Super Preferred Non-tob | 0% | 89% | 72% |
|  10 Year<br> Male | Preferred Non-tob | 0% | 103% | 82% |
|  10 Year<br> Male | Standard Non-tob | 0% | 140% | 107% |
|  10 Year<br> Male | Preferred Tob | 0% | 75% | 61% |
|  10 Year<br> Male | Standard Tob | 0% | 109% | 83% |
|  10 Year<br> Female | Preferred best Non-tob | 0% | 62% | 51% |
|  10 Year<br> Female | Super Preferred Non-tob | 0% | 78% | 61% |
|  10 Year<br> Female | Preferred Non-tob | 0% | 87% | 70% |
|  10 Year<br> Female | Standard Non-tob | 0% | 113% | 91% |
|  10 Year<br> Female | Preferred Tob | 0% | 70% | 62% |
|  10 Year<br> Female | Standard Tob | 0% | 102% | 91% |
|  15 Year<br> Male | Preferred best Non-tob | 0% | 59% | 51% |
|  15 Year<br> Male | Super Preferred Non-tob | 0% | 75% | 62% |
|  15 Year<br> Male | Preferred Non-tob | 0% | 88% | 71% |
|  15 Year<br> Male | Standard Non-tob | 0% | 111% | 90% |
|  15 Year<br> Male | Preferred Tob | 0% | 67% | 58% |
|  15 Year<br> Male | Standard Tob | 0% | 91% | 74% |
|  15 Year<br> Female | Preferred best Non-tob | 0% | 53% | 49% |
|  15 Year<br> Female | Super Preferred Non-tob | 0% | 67% | 57% |
|  15 Year<br> Female | Preferred Non-tob | 0% | 75% | 66% |
|  15 Year<br> Female | Standard Non-tob | 0% | 95% | 85% |
|  15 Year<br> Female | Preferred Tob | 0% | 60% | 58% |
|  15 Year<br> Female | Standard Tob | 0% | 92% | 84% |
|  20 Year<br> Male | Preferred best Non-tob | 0% | 58% | 50% |
|  20 Year<br> Male | Super Preferred Non-tob | 0% | 71% | 60% |
|  20 Year<br> Male | Preferred Non-tob | 0% | 83% | 70% |
|  20 Year<br> Male | Standard Non-tob | 0% | 103% | 87% |
|  20 Year<br> Male | Preferred Tob | 0% | 65% | 61% |
|  20 Year<br> Male | Standard Tob | 0% | 90% | 79% |
|  20 Year<br> Female | Preferred best Non-tob | 0% | 50% | 48% |
|  20 Year<br> Female | Super Preferred Non-tob | 0% | 64% | 56% |
|  20 Year<br> Female | Preferred Non-tob | 0% | 71% | 65% |
|  20 Year<br> Female | Standard Non-tob | 0% | 89% | 83% |
|  20 Year<br> Female | Preferred Tob | 0% | 61% | 60% |
|  20 Year<br> Female | Standard Tob | 0% | 91% | 88% |
|  30 Year<br> Male | Preferred best Non-tob | 0% | 57% | 54% |
|  30 Year<br> Male | Super Preferred Non-tob | 0% | 70% | 63% |
|  30 Year<br> Male | Preferred Non-tob | 0% | 79% | 72% |
|  30 Year<br> Male | Standard Non-tob | 0% | 95% | 87% |
|  30 Year<br> Male | Preferred Tob | 0% | 69% | 69% |
|  30 Year<br> Male | Standard Tob | 0% | 97% | 89% |
|  30 Year<br> Female | Preferred best Non-tob | 0% | 51% | 53% |
|  30 Year<br> Female | Super Preferred Non-tob | 0% | 65% | 59% |
|  30 Year<br> Female | Preferred Non-tob | 0% | 71% | 68% |
|  30 Year<br> Female | Standard Non-tob | 0% | 88% | 85% |
|  30 Year<br> Female | Preferred Tob | 0% | 66% | 68% |
|  30 Year<br> Female | Standard Tob | 0% | 95% | 97% |

---

I2526854US-24 (01-01-2025) (QT27458US24) 46

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**Exhibit C-1** 

Accelerated underwriting follows the Company's underwriting guidelines. Policies issued and classified as Accelerated Pass will use Accelerated Underwriting YRT rates applied. All other business submitted for Accelerated (failed and holdout) will use Full Underwriting YRT rates applied.

**Post Level Period YRT Rates**: 375% of the 2015 VBT ALB Select and Ultimate Gender and Smoker distinct table on a point-in-scale basis.

**Table Extra Premiums/Multiple Extra Premiums:** 

The Reinsurer shall receive its proportionate share of any extra premiums payable due to additional mortality risk.

Table extra premiums are equal to 25% of the standard Non-Tobacco or standard Tobacco premium (whichever is appropriate) for each assessed table of extra mortality. The Multiple Extra Premium is developed by adding all Table Extra premiums to the standard basic premium.

**Expanded Standard Rate Class:** 

The Company allows applicants with up to 65 debits to be issued as standard cases for automatic business. The Company will pay the Reinsurer the standard class on those cases. Program does not apply to facultative business.

**Supplementary Rider(s):** 

For the Accelerated Death Benefit for Terminal Illness rider specified in Exhibit A which is reinsured on a YRT basis, there is no additional reinsurance premium.

In the event of an accelerated benefit claim, the Reinsurer will pay the Company its proportionate share of any eligible accelerated benefits in one lump sum. Payment of the Accelerated Death Benefit rider will reduce the policy's face amount and the reinsurance proportionately. Reinsurance coverage of the remaining portion of the policy's face amount will continue for as long as the policy remains in force.

6. **Other Allowances:** 

**On Multiple Extra Premiums:** Not applicable

**On Supplementary Riders:** Not applicable

**On Flat Extra Premiums:** 

The reinsurance premium remitted to the Reinsurer will include any flat extra premium minus the allowances shown below.

---

| | | |
|:---|:---|:---|
| **Type** | **First Year** | **Renewal** |
|  Temporary (1-5 years) | 10% | 10% |
|  Permanent (6+ years) | 100% | 10% |

---

I2526854US-24 (01-01-2025) (QT27458US24) 47

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**Exhibit C-1** 

7. **Policy Fee:** There is no policy fee applicable.

8. **Reinsured Net Amounts At Risk:** 

For term plans, the net amount at risk will be based on the reinsured face amount. For permanent plans NAR will be based on face amount less cash value as specified in Exhibit D.

9. **Rate Basis:** 

The rates in this subsection are on a non-participating basis.

10. **Experience Monitoring:** 

Company agrees to periodically provide updated distribution, lapse, and mortality experience data upon request.

11. **YRT Rates For Conversions:** 

Premiums are based on the issue age, risk class, and duration of the original policy unless a risk class reconsideration has been applied.

The following percentages are to be applied to the 2015 VBT ALB Select and Ultimate Gender and Smoker distinct table.

I2526854US-24 (01-01-2025) (QT27458US24) 48

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**Exhibit C-1** 

---

| | | | |
|:---|:---|:---|:---|
| **Conversions - Non-Guaranteed** | **Conversions - Non-Guaranteed** | | |
| **Term** | **Class** | <br>**Conversion Duration** |<br>**Rate** |
|  10 Year | Preferred best Non-tob | 1-5 | 68% |
|  10 Year | Super Preferred Non-tob | 1-5 | 76% |
|  10 Year | Preferred Non-tob | 1-5 | 84% |
|  10 Year | Standard Non-tob | 1-5 | 92% |
|  10 Year | Preferred Tob | 1-5 | 86% |
|  10 Year | Standard Tob | 1-5 | 100% |
|  10 Year | Preferred best Non-tob | 6-8 | 73% |
|  10 Year | Super Preferred Non-tob | 6-8 | 81% |
|  10 Year | Preferred Non-tob | 6-8 | 90% |
|  10 Year | Standard Non-tob | 6-8 | 98% |
|  10 Year | Preferred Tob | 6-8 | 92% |
|  10 Year | Standard Tob | 6-8 | 107% |
|  10 Year | Preferred best Non-tob | 9-10 | 103% |
|  10 Year | Super Preferred Non-tob | 9-10 | 115% |
|  10 Year | Preferred Non-tob | 9-10 | 127% |
|  10 Year | Standard Non-tob | 9-10 | 139% |
|  10 Year | Preferred Tob | 9-10 | 130% |
|  10 Year | Standard Tob | 9-10 | 152% |
|  15 Year | Preferred best Non-tob | 1-7 | 64% |
|  15 Year | Super Preferred Non-tob | 1-7 | 71% |
|  15 Year | Preferred Non-tob | 1-7 | 78% |
|  15 Year | Standard Non-tob | 1-7 | 86% |
|  15 Year | Preferred Tob | 1-7 | 81% |
|  15 Year | Standard Tob | 1-7 | 94% |
|  15 Year | Preferred best Non-tob | 8-12 | 74% |
|  15 Year | Super Preferred Non-tob | 8-12 | 82% |
|  15 Year | Preferred Non-tob | 8-12 | 90% |
|  15 Year | Standard Non-tob | 8-12 | 99% |
|  15 Year | Preferred Tob | 8-12 | 93% |
|  15 Year | Standard Tob | 8-12 | 109% |
|  15 Year | Preferred best Non-tob | 13-15 | 102% |
|  15 Year | Super Preferred Non-tob | 13-15 | 114% |
|  15 Year | Preferred Non-tob | 13-15 | 125% |
|  15 Year | Standard Non-tob | 13-15 | 137% |
|  15 Year | Preferred Tob | 13-15 | 129% |
|  15 Year | Standard Tob | 13-15 | 150% |

---

I2526854US-24 (01-01-2025) (QT27458US24) 49

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**Exhibit C-1** 

---

| | | | |
|:---|:---|:---|:---|
| **Conversions - Non-Guaranteed** | **Conversions - Non-Guaranteed** | | |
| **Term** | **Class** | <br>**Conversion Duration** |<br>**Rate** |
|  20 Year | Preferred best Non-tob | 1-9 | 64% |
|  20 Year | Super Preferred Non-tob | 1-9 | 72% |
|  20 Year | Preferred Non-tob | 1-9 | 79% |
|  20 Year | Standard Non-tob | 1-9 | 87% |
|  20 Year | Preferred Tob | 1-9 | 81% |
|  20 Year | Standard Tob | 1-9 | 95% |
|  20 Year | Preferred best Non-tob | 10-15 | 80% |
|  20 Year | Super Preferred Non-tob | 10-15 | 90% |
|  20 Year | Preferred Non-tob | 10-15 | 99% |
|  20 Year | Standard Non-tob | 10-15 | 108% |
|  20 Year | Preferred Tob | 10-15 | 102% |
|  20 Year | Standard Tob | 10-15 | 119% |
|  20 Year | Preferred best Non-tob | 16-20 | 109% |
|  20 Year | Super Preferred Non-tob | 16-20 | 122% |
|  20 Year | Preferred Non-tob | 16-20 | 134% |
|  20 Year | Standard Non-tob | 16-20 | 147% |
|  20 Year | Preferred Tob | 16-20 | 138% |
|  20 Year | Standard Tob | 16-20 | 161% |
|  30 Year | Preferred best Non-tob | 1-14 | 62% |
|  30 Year | Super Preferred Non-tob | 1-14 | 69% |
|  30 Year | Preferred Non-tob | 1-14 | 76% |
|  30 Year | Standard Non-tob | 1-14 | 83% |
|  30 Year | Preferred Tob | 1-14 | 78% |
|  30 Year | Standard Tob | 1-14 | 91% |
|  30 Year | Preferred best Non-tob | 15-25 | 94% |
|  30 Year | Super Preferred Non-tob | 15-25 | 105% |
|  30 Year | Preferred Non-tob | 15-25 | 115% |
|  30 Year | Standard Non-tob | 15-25 | 126% |
|  30 Year | Preferred Tob | 15-25 | 118% |
|  30 Year | Standard Tob | 15-25 | 138% |
|  30 Year | Preferred best Non-tob | 26-30 | 113% |
|  30 Year | Super Preferred Non-tob | 26-30 | 126% |
|  30 Year | Preferred Non-tob | 26-30 | 139% |
|  30 Year | Standard Non-tob | 26-30 | 152% |
|  30 Year | Preferred Tob | 26-30 | 142% |
|  30 Year | Standard Tob | 26-30 | 166% |

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I2526854US-24 (01-01-2025) (QT27458US24) 50

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I2526854US-24 (01-01-2025) (QT27458US24) 51

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I2526854US-24 (01-01-2025) (QT27458US24) 52

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I2526854US-24 (01-01-2025) (QT27458US24) 53

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![LOGO](g95392dsp266.jpg)

2015 VBT FEMALE SMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 4.18 9.18 17.18 24.23 27.50 30.72 33.44 36.09 39.91 45.17 51.38 59.02 67.15 75.07 83.16 93.23 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 95 71 4.58 10.08 19.26 26.89 30.15 32.77 35.26 39.02 44.30 50.82 58.57 66.83 74.63 82.57 92.20 104.03 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 96 72 5.02 11.05 21.55 29.51 32.03 34.32 38.01 43.27 49.74 57.66 66.30 73.64 81.98 91.45 103.28 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 97 73 5.50 12.13 24.07 31.22 33.29 36.90 42.12 48.50 56.34 65.21 73.27 80.18 89.61 102.72 114.61 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 98 74 6.05 13.34 26.82 32.20 35.70 40.87 47.14 54.85 62.39 72.50 79.80 88.50 101.02 114.22 125.99 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 99 75 6.66 14.70 29.29 34.42 39.53 45.66 53.19 60.83 68.22 79.41 88.20 100.85 113.89 125.44 137.98 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 100 76 7.36 16.22 31.41 38.10 44.06 51.36 59.17 66.67 74.99 87.90 100.68 113.38 124.87 137.67 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 101 77 8.16 17.94 33.68 42.34 49.36 57.96 65.12 73.31 82.99 99.41 112.78 123.80 136.91 150.26 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 102 78 9.06 19.86 36.15 47.20 56.17 64.10 71.64 81.11 93.21 110.82 122.57 135.53 149.77 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 103 79 10.08 22.07 38.85 53.04 63.29 69.86 79.23 91.67 103.14 121.01 133.79 148.96 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 104 80 11.28 24.62 41.98 58.38 68.95 77.23 88.02 102.01 112.13 131.42 147.12 162.73 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 105 81 12.67 27.46 45.58 62.57 74.14 85.06 96.28 110.25 124.49 144.10 161.92 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 106 82 14.25 30.65 49.51 66.96 79.69 92.02 103.30 121.03 139.98 160.31 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 107 83 16.04 34.23 53.73 71.53 85.47 98.30 113.34 134.76 157.90 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 108 84 18.10 38.24 58.25 76.19 91.00 106.46 127.26 152.93 175.51 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 109 85 20.45 42.67 62.97 80.75 97.36 117.22 145.39 173.42 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 110 86 23.10 47.54 67.74 85.02 105.35 133.94 169.28 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 111 87 26.09 52.83 72.38 91.33 119.83 163.14 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 112 88 29.42 58.48 76.81 103.51 147.14 188.05 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 113 89 33.08 64.37 83.74 121.12 178.83 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 114 90 38.03 68.71 102.02 160.89 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 115 91 46.10 85.22 153.21 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 116 92 58.51 119.95 200.27 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 117 93 75.79 149.35 214.01 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 98.63 188.48 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 128.07 229.82 246.27 263.04 279.66 299.21 323.14 346.98 370.36 392.92 414.30 434.13 452.05 467.69 480.68 490.65 497.23 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

I2526854US-24 (01-01-2025) (QT27458US24) 54

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![LOGO](g95392dsp267.jpg)

2015 VBT MALE NONSMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.66 0.69 0.71 0.71 0.69 0.69 0.68 0.66 0.57 0.52 0.50 0.47 0.46 0.49 0.52 0.58 0.66 0.77 0.89 1.01 1.11 1.17 1.24 1.31 1.40 1.48 43 19 0.60 0.62 0.66 0.63 0.62 0.61 0.61 0.56 0.49 0.46 0.46 0.45 0.45 0.50 0.55 0.59 0.68 0.80 0.92 1.04 1.14 1.20 1.27 1.35 1.44 1.54 44 20 0.51 0.57 0.57 0.55 0.53 0.52 0.51 0.47 0.43 0.44 0.44 0.45 0.46 0.51 0.57 0.62 0.71 0.82 0.94 1.07 1.16 1.22 1.29 1.38 1.49 1.59 45 21 0.45 0.52 0.47 0.44 0.43 0.43 0.42 0.40 0.38 0.41 0.43 0.45 0.48 0.53 0.59 0.64 0.73 0.84 0.97 1.09 1.17 1.23 1.30 1.41 1.53 1.65 46 22 0.41 0.43 0.39 0.37 0.36 0.36 0.36 0.35 0.35 0.40 0.43 0.46 0.49 0.56 0.62 0.66 0.76 0.88 1.01 1.11 1.17 1.23 1.30 1.43 1.58 1.71 47 23 0.35 0.36 0.33 0.31 0.31 0.31 0.31 0.33 0.34 0.40 0.43 0.47 0.52 0.59 0.64 0.69 0.79 0.92 1.04 1.12 1.18 1.23 1.31 1.45 1.63 1.79 48 24 0.30 0.31 0.28 0.27 0.27 0.27 0.29 0.32 0.34 0.41 0.45 0.50 0.55 0.61 0.67 0.73 0.84 0.97 1.07 1.12 1.19 1.24 1.35 1.51 1.70 1.88 49 25 0.26 0.27 0.25 0.25 0.25 0.26 0.28 0.32 0.35 0.42 0.47 0.53 0.58 0.65 0.71 0.78 0.90 1.02 1.09 1.13 1.19 1.28 1.43 1.61 1.80 1.99 50 26 0.22 0.24 0.23 0.24 0.24 0.26 0.29 0.33 0.36 0.45 0.51 0.57 0.62 0.69 0.77 0.85 0.97 1.06 1.11 1.16 1.24 1.37 1.55 1.74 1.95 2.16 51 27 0.20 0.22 0.22 0.24 0.25 0.27 0.31 0.35 0.39 0.48 0.55 0.62 0.67 0.75 0.83 0.91 1.02 1.10 1.15 1.22 1.33 1.49 1.68 1.89 2.12 2.36 52 28 0.18 0.20 0.21 0.25 0.27 0.30 0.33 0.38 0.42 0.53 0.60 0.67 0.72 0.81 0.90 0.97 1.07 1.14 1.22 1.31 1.45 1.63 1.84 2.06 2.31 2.58 53 29 0.16 0.18 0.22 0.25 0.28 0.31 0.34 0.39 0.44 0.55 0.63 0.69 0.75 0.84 0.93 1.01 1.12 1.21 1.30 1.42 1.58 1.78 2.00 2.25 2.53 2.80 54 30 0.15 0.16 0.22 0.26 0.28 0.31 0.34 0.40 0.47 0.57 0.65 0.70 0.76 0.86 0.95 1.07 1.19 1.29 1.39 1.54 1.72 1.94 2.19 2.46 2.75 3.02 55 31 0.14 0.15 0.22 0.26 0.29 0.32 0.36 0.42 0.52 0.61 0.68 0.73 0.80 0.89 1.00 1.13 1.26 1.37 1.50 1.66 1.87 2.12 2.39 2.68 2.97 3.22 56 32 0.14 0.15 0.23 0.28 0.31 0.34 0.40 0.46 0.57 0.66 0.71 0.76 0.84 0.94 1.07 1.21 1.34 1.47 1.61 1.80 2.03 2.30 2.60 2.90 3.18 3.43 57 33 0.14 0.16 0.25 0.29 0.32 0.37 0.44 0.51 0.62 0.70 0.75 0.80 0.89 1.01 1.14 1.29 1.43 1.57 1.73 1.94 2.21 2.51 2.82 3.13 3.40 3.66 58 34 0.15 0.17 0.27 0.31 0.36 0.41 0.47 0.57 0.66 0.73 0.78 0.85 0.96 1.09 1.22 1.37 1.53 1.68 1.87 2.11 2.41 2.74 3.06 3.36 3.64 3.93 59 35 0.15 0.18 0.29 0.34 0.40 0.45 0.51 0.62 0.70 0.76 0.83 0.92 1.04 1.17 1.31 1.47 1.63 1.80 2.02 2.30 2.64 2.99 3.32 3.62 3.92 4.28 60 36 0.15 0.20 0.31 0.38 0.44 0.49 0.57 0.67 0.74 0.81 0.90 1.00 1.13 1.27 1.42 1.58 1.75 1.95 2.21 2.53 2.91 3.27 3.61 3.92 4.28 4.74 61 37 0.15 0.21 0.34 0.41 0.48 0.54 0.63 0.71 0.78 0.88 0.99 1.10 1.23 1.38 1.53 1.70 1.90 2.13 2.44 2.81 3.21 3.58 3.92 4.28 4.72 5.27 62 38 0.15 0.24 0.37 0.44 0.51 0.60 0.68 0.76 0.85 0.97 1.09 1.21 1.35 1.51 1.67 1.85 2.08 2.36 2.72 3.14 3.55 3.91 4.28 4.70 5.24 5.88 63 39 0.16 0.28 0.41 0.49 0.56 0.65 0.73 0.82 0.93 1.07 1.19 1.32 1.48 1.65 1.82 2.03 2.30 2.64 3.06 3.50 3.90 4.28 4.68 5.18 5.84 6.54 64 40 0.18 0.33 0.45 0.53 0.62 0.70 0.78 0.88 1.02 1.17 1.30 1.44 1.62 1.81 2.01 2.26 2.58 2.99 3.44 3.88 4.28 4.68 5.12 5.76 6.48 7.25 65 41 0.21 0.37 0.49 0.57 0.67 0.75 0.84 0.96 1.11 1.27 1.42 1.57 1.78 2.00 2.22 2.52 2.92 3.38 3.85 4.28 4.67 5.09 5.64 6.37 7.15 8.02 66 42 0.24 0.41 0.52 0.62 0.72 0.79 0.89 1.04 1.21 1.38 1.53 1.71 1.95 2.20 2.47 2.83 3.30 3.80 4.27 4.67 5.07 5.56 6.22 7.01 7.88 8.86 67 43 0.29 0.44 0.56 0.68 0.76 0.84 0.96 1.13 1.31 1.48 1.65 1.87 2.15 2.43 2.75 3.18 3.71 4.22 4.67 5.05 5.50 6.12 6.89 7.77 8.72 9.79 68 44 0.33 0.47 0.60 0.74 0.81 0.90 1.05 1.23 1.41 1.59 1.80 2.06 2.37 2.69 3.06 3.55 4.12 4.64 5.05 5.48 6.00 6.78 7.68 8.65 9.69 10.88 69 45 0.38 0.50 0.65 0.80 0.87 0.99 1.16 1.35 1.53 1.73 1.98 2.27 2.61 2.97 3.40 3.94 4.53 5.03 5.48 5.98 6.61 7.58 8.58 9.65 10.82 12.16 70 46 0.43 0.52 0.71 0.86 0.95 1.10 1.30 1.48 1.66 1.89 2.19 2.52 2.88 3.26 3.74 4.33 4.95 5.46 5.95 6.52 7.34 8.50 9.60 10.79 12.14 13.69 71 47 0.47 0.55 0.77 0.94 1.05 1.24 1.45 1.62 1.81 2.10 2.44 2.78 3.15 3.58 4.10 4.74 5.39 5.94 6.48 7.18 8.22 9.57 10.77 12.12 13.65 15.48 72 48 0.50 0.58 0.84 1.02 1.18 1.40 1.60 1.77 2.00 2.35 2.72 3.06 3.44 3.90 4.48 5.17 5.85 6.44 7.09 7.97 9.23 10.74 12.10 13.62 15.40 17.55 73 49 0.52 0.64 0.92 1.11 1.32 1.56 1.74 1.92 2.22 2.63 3.01 3.34 3.73 4.24 4.88 5.63 6.35 7.00 7.79 8.87 10.36 11.99 13.56 15.37 17.43 19.89 74 50 0.52 0.72 1.01 1.22 1.48 1.70 1.87 2.09 2.47 2.94 3.31 3.65 4.05 4.63 5.34 6.14 6.91 7.65 8.62 9.91 11.56 13.30 15.14 17.29 19.72 22.48 75 51 0.53 0.82 1.12 1.35 1.63 1.82 1.99 2.29 2.76 3.26 3.62 4.01 4.43 5.10 5.90 6.75 7.57 8.44 9.61 11.11 12.91 14.77 16.86 19.35 22.18 25.32 76 52 0.53 0.93 1.24 1.51 1.77 1.94 2.15 2.52 3.07 3.60 3.97 4.39 4.90 5.70 6.58 7.50 8.40 9.50 10.80 12.49 14.45 16.50 18.85 21.68 24.89 28.46 77 53 0.54 1.04 1.38 1.71 1.92 2.09 2.35 2.80 3.42 3.95 4.36 4.83 5.52 6.45 7.42 8.39 9.47 10.74 12.24 14.10 16.20 18.63 21.40 24.58 28.04 31.99 78 54 0.54 1.13 1.54 1.88 2.06 2.24 2.58 3.15 3.80 4.34 4.80 5.41 6.32 7.37 8.38 9.45 10.68 12.12 13.94 16.02 18.34 21.22 24.42 27.96 31.81 36.04 79 55 0.59 1.19 1.71 2.03 2.21 2.44 2.88 3.56 4.22 4.79 5.37 6.18 7.25 8.36 9.43 10.64 12.05 13.79 15.91 18.27 20.96 24.22 27.81 31.77 36.04 40.76 80 56 0.70 1.24 1.88 2.19 2.40 2.70 3.28 4.01 4.67 5.31 6.06 7.09 8.29 9.41 10.57 11.98 13.70 15.74 18.14 20.81 23.88 27.50 31.68 36.04 40.76 46.15 81 57 0.85 1.28 2.04 2.37 2.64 3.03 3.75 4.50 5.17 5.92 6.87 8.09 9.37 10.55 11.87 13.53 15.61 17.97 20.66 23.68 27.24 31.37 35.97 40.76 46.15 52.27 82 58 1.05 1.35 2.17 2.57 2.87 3.44 4.25 5.00 5.71 6.63 7.78 9.13 10.50 11.86 13.38 15.33 17.81 20.50 23.47 26.82 30.96 35.72 40.76 46.15 52.27 59.31 83 59 1.26 1.46 2.27 2.72 3.13 3.90 4.74 5.49 6.31 7.42 8.78 10.25 11.74 13.26 15.02 17.36 20.25 23.31 26.65 30.56 35.26 40.57 46.15 52.27 59.31 67.48 84 60 1.44 1.62 2.38 2.82 3.45 4.35 5.20 5.99 6.96 8.28 9.82 11.41 13.00 14.70 16.83 19.62 22.94 26.42 30.30 34.87 40.24 46.15 52.27 59.31 67.48 76.96 85 61 1.56 1.84 2.50 2.98 3.82 4.79 5.64 6.52 7.68 9.19 10.84 12.52 14.25 16.26 18.85 22.11 25.88 29.90 34.52 39.81 45.87 52.27 59.31 67.48 76.96 87.87 86 62 1.63 2.12 2.68 3.24 4.24 5.22 6.09 7.10 8.46 10.14 11.89 13.68 15.62 18.03 21.10 24.84 29.11 33.74 39.19 45.28 52.27 59.31 67.48 76.96 87.87 100.29 87 63 1.69 2.41 2.95 3.62 4.72 5.67 6.60 7.77 9.33 11.17 13.00 14.90 17.15 19.98 23.52 27.83 32.83 38.39 44.71 51.75 59.31 67.48 76.96 87.87 100.29 114.02 88 64 1.76 2.72 3.29 4.09 5.26 6.18 7.19 8.55 10.31 12.31 14.24 16.29 18.88 22.14 26.13 31.12 37.06 43.66 51.18 59.31 67.48 76.96 87.87 100.29 114.02 128.76 89 65 1.83 3.05 3.72 4.62 5.89 6.78 7.91 9.46 11.43 13.65 15.73 17.99 20.97 24.66 29.12 35.10 42.41 50.14 58.75 67.48 76.96 87.87 100.29 114.02 128.76 144.17 90 66 1.93 3.35 4.19 5.22 6.60 7.50 8.77 10.52 12.74 15.26 17.63 20.20 23.61 27.79 32.76 39.79 48.73 57.78 67.48 76.96 87.87 100.29 114.02 128.76 144.17 159.79 91 67 2.06 3.63 4.71 5.90 7.30 8.35 9.77 11.75 14.30 17.24 20.04 23.21 26.96 31.69 37.24 45.32 55.69 65.94 76.96 87.87 100.29 114.02 128.76 144.17 159.79 175.30 92 68 2.23 3.92 5.27 6.66 8.07 9.32 10.91 13.18 16.32 19.68 23.08 26.87 31.15 36.68 42.96 52.22 63.81 75.42 87.87 100.29 114.02 128.76 144.17 159.79 175.30 190.25 93 69 2.41 4.19 5.85 7.45 8.93 10.28 12.11 15.04 18.54 22.38 26.71 30.99 36.46 42.86 50.84 60.94 74.06 87.04 100.29 114.02 128.76 144.17 159.79 175.30 190.25 203.94 94

I2526854US-24 (01-01-2025) (QT27458US24) 55

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![LOGO](g95392dsp268.jpg)

2015 VBT MALE NONSMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 2.59 4.41 6.38 8.21 9.69 11.24 13.60 17.08 20.74 25.22 30.76 36.30 42.68 50.52 59.16 70.86 85.79 100.29 114.02 128.76 144.17 159.79 175.30 190.25 203.94 218.45 95 71 2.78 4.62 6.93 8.99 10.50 12.56 15.41 19.04 23.33 28.87 35.82 42.56 50.11 58.75 67.43 81.45 98.11 114.02 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 96 72 3.01 4.90 7.55 9.90 11.75 14.28 17.40 21.36 26.78 33.59 42.11 49.94 58.42 67.28 79.18 95.56 112.86 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 97 73 3.30 5.31 8.37 11.07 13.39 16.27 19.90 24.45 31.08 39.19 49.69 58.35 67.20 78.00 93.41 111.93 128.76 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 98 74 3.65 5.86 9.37 12.50 15.22 18.66 22.99 28.34 36.22 45.73 58.19 67.13 77.53 91.65 108.77 127.96 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 99 75 3.99 6.42 10.44 14.17 17.42 21.52 26.60 32.99 42.24 53.01 66.84 77.14 90.91 107.84 126.69 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 100 76 4.24 6.83 11.26 15.64 19.59 24.28 30.18 38.43 48.97 60.81 76.46 89.99 107.32 126.31 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 101 77 4.42 7.13 11.91 16.91 21.46 27.05 33.75 44.56 56.24 69.32 88.55 105.91 125.47 144.17 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 102 78 4.61 7.47 12.67 18.28 23.43 29.97 37.78 50.32 63.25 78.93 102.53 122.95 143.48 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 103 79 4.78 7.80 13.45 19.74 25.52 32.60 41.98 55.30 70.08 89.81 118.04 141.66 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 104 80 5.07 8.34 14.72 21.90 28.33 36.23 47.46 61.70 80.04 104.19 135.37 159.79 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 105 81 5.54 9.21 16.68 25.02 32.42 41.40 55.05 72.28 94.85 125.34 155.65 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 106 82 6.24 10.50 19.46 29.31 38.22 48.80 65.69 88.25 117.04 152.45 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 107 83 7.27 12.50 23.82 36.00 47.19 61.04 82.30 113.08 148.82 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 108 84 8.57 15.11 29.54 44.82 59.35 78.13 105.78 140.92 175.30 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 109 85 10.25 18.42 36.78 56.17 75.65 100.97 133.91 167.51 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 110 86 12.32 22.63 46.13 71.55 97.66 129.69 165.42 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 111 87 14.55 27.50 57.18 90.24 124.30 163.40 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 112 88 16.83 32.62 69.54 111.42 153.75 190.25 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 113 89 19.34 38.13 83.50 136.22 182.90 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 114 90 23.37 52.47 113.46 172.67 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 115 91 31.59 79.88 165.78 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 116 92 46.10 117.11 203.94 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 117 93 68.04 150.88 218.45 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 98.17 192.89 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 137.03 235.54 253.92 273.64 294.31 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

I2526854US-24 (01-01-2025) (QT27458US24) 56

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![LOGO](g95392dsp269.jpg)

2015 VBT MALE SMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 0 25 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 15 40 16 41 17 42 18 0.67 0.70 0.72 0.75 0.78 0.80 0.83 0.85 0.84 0.83 0.82 0.82 0.84 0.88 0.95 1.02 1.10 1.19 1.30 1.42 1.58 1.79 2.01 2.24 2.46 2.65 43 19 0.64 0.66 0.69 0.71 0.73 0.76 0.78 0.78 0.78 0.78 0.78 0.80 0.85 0.91 0.98 1.06 1.15 1.25 1.40 1.57 1.77 2.00 2.23 2.44 2.63 2.79 44 20 0.60 0.63 0.65 0.67 0.69 0.71 0.73 0.73 0.73 0.74 0.76 0.81 0.87 0.95 1.03 1.11 1.21 1.37 1.56 1.76 1.98 2.21 2.43 2.61 2.77 2.94 45 21 0.56 0.58 0.60 0.62 0.64 0.67 0.68 0.68 0.70 0.72 0.77 0.84 0.91 0.99 1.08 1.17 1.34 1.54 1.74 1.96 2.20 2.41 2.60 2.75 2.92 3.13 46 22 0.52 0.53 0.54 0.58 0.61 0.63 0.64 0.65 0.69 0.74 0.80 0.87 0.95 1.04 1.14 1.31 1.52 1.72 1.94 2.18 2.40 2.58 2.74 2.91 3.12 3.34 47 23 0.48 0.49 0.51 0.55 0.58 0.59 0.61 0.65 0.70 0.76 0.84 0.91 1.00 1.10 1.28 1.50 1.69 1.91 2.15 2.38 2.57 2.72 2.89 3.10 3.33 3.57 48 24 0.44 0.47 0.49 0.52 0.55 0.57 0.61 0.66 0.73 0.80 0.88 0.96 1.06 1.23 1.46 1.66 1.88 2.12 2.35 2.55 2.71 2.89 3.09 3.32 3.56 3.83 49 25 0.41 0.45 0.47 0.50 0.53 0.57 0.63 0.69 0.77 0.85 0.93 1.02 1.17 1.41 1.62 1.85 2.09 2.32 2.53 2.70 2.88 3.09 3.31 3.56 3.83 4.13 50 26 0.37 0.43 0.46 0.49 0.53 0.59 0.66 0.73 0.81 0.90 0.99 1.10 1.33 1.56 1.80 2.04 2.28 2.50 2.68 2.88 3.09 3.31 3.55 3.82 4.13 4.47 51 27 0.34 0.41 0.45 0.49 0.55 0.62 0.70 0.78 0.87 0.97 1.07 1.22 1.48 1.73 1.98 2.22 2.45 2.65 2.86 3.08 3.30 3.55 3.82 4.12 4.47 4.86 52 28 0.32 0.40 0.47 0.52 0.60 0.67 0.75 0.83 0.93 1.04 1.18 1.35 1.63 1.90 2.14 2.37 2.59 2.81 3.07 3.30 3.54 3.81 4.12 4.46 4.85 5.28 53 29 0.31 0.42 0.51 0.58 0.66 0.74 0.81 0.90 1.01 1.15 1.31 1.50 1.78 2.04 2.26 2.49 2.74 3.01 3.29 3.54 3.81 4.11 4.46 4.85 5.28 5.77 54 30 0.31 0.44 0.56 0.65 0.73 0.81 0.88 0.97 1.11 1.28 1.45 1.64 1.91 2.15 2.37 2.62 2.93 3.23 3.53 3.80 4.11 4.45 4.84 5.28 5.76 6.32 55 31 0.32 0.47 0.61 0.71 0.80 0.87 0.95 1.06 1.23 1.42 1.60 1.77 2.03 2.26 2.50 2.81 3.15 3.47 3.80 4.10 4.45 4.84 5.27 5.76 6.31 6.94 56 32 0.33 0.50 0.66 0.77 0.87 0.94 1.03 1.18 1.36 1.56 1.74 1.90 2.14 2.39 2.68 3.02 3.39 3.73 4.10 4.44 4.83 5.27 5.75 6.30 6.93 7.65 57 33 0.33 0.52 0.70 0.81 0.92 1.02 1.13 1.31 1.50 1.70 1.83 2.01 2.27 2.57 2.88 3.25 3.65 4.04 4.44 4.83 5.26 5.75 6.29 6.92 7.64 8.46 58 34 0.34 0.54 0.74 0.85 0.97 1.10 1.24 1.44 1.63 1.79 1.91 2.15 2.45 2.77 3.11 3.52 3.96 4.38 4.82 5.26 5.74 6.29 6.91 7.64 8.46 9.39 59 35 0.35 0.56 0.78 0.89 1.03 1.19 1.37 1.56 1.72 1.85 2.05 2.33 2.65 3.00 3.37 3.82 4.30 4.76 5.25 5.73 6.28 6.90 7.63 8.45 9.38 10.45 60 36 0.37 0.59 0.84 0.96 1.12 1.30 1.49 1.65 1.76 1.97 2.24 2.53 2.88 3.26 3.67 4.16 4.68 5.18 5.73 6.27 6.89 7.62 8.45 9.38 10.45 11.66 61 37 0.39 0.64 0.91 1.06 1.23 1.41 1.58 1.69 1.87 2.16 2.45 2.76 3.15 3.57 4.02 4.54 5.11 5.66 6.26 6.88 7.62 8.44 9.37 10.44 11.66 13.03 62 38 0.42 0.70 1.00 1.16 1.33 1.50 1.63 1.80 2.07 2.38 2.69 3.03 3.46 3.92 4.41 4.98 5.59 6.19 6.87 7.61 8.44 9.37 10.44 11.66 13.03 14.53 63 39 0.46 0.77 1.09 1.26 1.43 1.56 1.74 2.00 2.30 2.63 2.97 3.35 3.82 4.33 4.87 5.48 6.13 6.79 7.60 8.43 9.36 10.44 11.66 13.02 14.52 16.18 64 40 0.51 0.85 1.18 1.35 1.50 1.68 1.94 2.23 2.55 2.91 3.29 3.71 4.23 4.80 5.39 6.04 6.73 7.56 8.43 9.36 10.44 11.65 13.02 14.52 16.17 17.98 65 41 0.56 0.93 1.25 1.44 1.62 1.88 2.18 2.49 2.83 3.23 3.64 4.12 4.71 5.33 5.97 6.66 7.53 8.43 9.36 10.43 11.65 13.02 14.51 16.16 17.97 19.89 66 42 0.61 1.01 1.32 1.54 1.80 2.10 2.43 2.78 3.15 3.58 4.05 4.59 5.25 5.93 6.62 7.45 8.42 9.35 10.43 11.65 13.02 14.51 16.14 17.97 19.89 21.90 67 43 0.66 1.08 1.41 1.69 2.00 2.35 2.72 3.09 3.50 3.98 4.51 5.12 5.85 6.60 7.39 8.37 9.35 10.43 11.65 13.02 14.51 16.13 17.96 19.89 21.89 24.05 68 44 0.70 1.16 1.53 1.86 2.23 2.63 3.03 3.43 3.88 4.44 5.04 5.73 6.55 7.37 8.28 9.34 10.43 11.65 13.02 14.50 16.12 17.95 19.88 21.89 24.03 26.41 69 45 0.75 1.25 1.67 2.06 2.49 2.93 3.36 3.81 4.32 4.95 5.64 6.43 7.33 8.25 9.27 10.42 11.65 13.02 14.50 16.11 17.94 19.88 21.88 24.02 26.37 29.08 70 46 0.82 1.36 1.82 2.29 2.78 3.27 3.73 4.22 4.81 5.54 6.33 7.27 8.23 9.26 10.39 11.64 13.02 14.49 16.09 17.93 19.88 21.88 24.01 26.33 29.02 32.11 71 47 0.89 1.48 2.01 2.56 3.11 3.63 4.13 4.68 5.36 6.21 7.22 8.22 9.25 10.39 11.64 13.02 14.49 16.08 17.92 19.88 21.87 24.00 26.29 28.96 32.06 35.47 72 48 0.97 1.61 2.24 2.88 3.49 4.03 4.58 5.20 5.99 7.15 8.22 9.23 10.39 11.64 13.02 14.49 16.07 17.91 19.87 21.87 23.98 26.24 28.90 32.00 35.44 39.08 73 49 1.06 1.76 2.50 3.26 3.90 4.48 5.07 5.79 7.03 8.22 9.21 10.36 11.64 13.02 14.48 16.06 17.90 19.87 21.87 23.97 26.20 28.84 31.94 35.40 39.02 42.83 74 50 1.16 1.93 2.81 3.69 4.38 4.97 5.69 6.84 8.21 9.20 10.33 11.61 13.02 14.48 16.04 17.89 19.87 21.86 23.91 26.16 28.77 31.88 35.37 38.96 42.76 46.60 75 51 1.27 2.13 3.18 4.20 4.91 5.61 6.73 8.07 9.18 10.30 11.59 13.00 14.48 16.03 17.87 19.87 21.85 23.84 26.06 28.71 31.82 35.33 38.90 42.70 46.52 50.33 76 52 1.40 2.34 3.61 4.79 5.55 6.59 7.89 9.09 10.27 11.56 12.97 14.46 16.02 17.86 19.83 21.84 23.77 25.97 28.65 31.76 35.30 38.84 42.64 46.44 50.15 54.04 77 53 1.54 2.59 4.11 5.47 6.42 7.67 8.90 10.24 11.54 12.95 14.44 16.01 17.84 19.80 21.81 23.70 25.87 28.59 31.71 35.26 38.78 42.57 46.37 49.97 53.79 57.84 78 54 1.70 2.88 4.69 6.24 7.40 8.66 10.03 11.51 12.93 14.43 15.99 17.82 19.77 21.78 23.64 25.78 28.53 31.65 35.23 38.72 42.51 46.29 49.80 53.54 57.69 61.88 79 55 1.88 3.21 5.35 7.10 8.38 9.77 11.28 12.91 14.41 15.98 17.81 19.74 21.75 23.57 25.68 28.46 31.59 35.19 38.65 42.44 46.21 49.62 53.29 57.54 61.88 66.27 80 56 2.08 3.58 6.09 8.06 9.46 10.98 12.63 14.40 15.97 17.79 19.71 21.72 23.50 25.59 28.40 31.53 35.16 38.59 42.38 46.13 49.44 53.04 57.36 61.88 66.27 70.94 81 57 2.31 4.00 6.88 9.10 10.62 12.28 14.07 15.96 17.78 19.68 21.69 23.43 25.49 28.34 31.47 35.12 38.53 42.32 46.05 49.26 52.80 57.17 61.83 66.27 70.94 76.84 82 58 2.56 4.48 7.73 10.22 11.86 13.64 15.55 17.54 19.64 21.66 23.36 25.39 28.28 31.41 35.09 38.47 42.25 45.98 49.08 52.55 56.99 61.77 66.27 70.94 76.84 84.42 83 59 2.84 5.01 8.61 11.39 13.15 15.04 17.05 19.15 21.39 23.30 25.30 28.22 31.36 35.05 38.41 42.19 45.90 48.90 52.30 56.80 61.72 66.25 70.94 76.84 84.42 93.03 84 60 3.15 5.60 9.51 12.60 14.46 16.45 18.38 20.60 22.99 25.20 28.15 31.30 35.02 38.35 42.12 45.82 48.73 52.05 56.61 61.66 66.18 70.94 76.84 84.42 93.03 102.79 85 61 3.49 6.24 10.42 13.81 15.77 17.67 19.42 21.73 24.27 27.32 30.47 33.79 38.29 42.06 45.74 48.55 51.80 56.43 61.60 66.15 70.89 76.84 84.42 93.03 102.79 113.76 86 62 3.86 6.92 11.32 15.00 17.07 18.93 20.41 22.62 25.35 28.62 31.93 35.34 40.13 45.67 48.37 51.55 56.24 61.54 66.01 70.72 76.84 84.42 93.03 102.79 113.76 125.86 87 63 4.25 7.63 12.20 16.17 18.41 20.14 21.64 23.98 27.08 30.10 33.42 36.73 41.46 48.19 51.30 56.06 61.48 65.88 70.48 76.67 84.42 93.03 102.79 113.76 125.86 138.82 88 64 4.66 8.34 13.06 17.36 19.69 21.40 23.42 26.22 29.27 32.51 35.73 38.74 43.44 51.06 55.87 61.42 65.75 70.24 76.42 84.42 93.03 102.79 113.76 125.86 138.82 152.25 89 65 5.08 9.06 13.93 18.63 21.15 23.25 25.73 28.67 31.66 35.56 38.46 42.12 46.02 53.88 60.63 65.62 70.00 76.23 84.29 93.03 102.79 113.76 125.86 138.82 152.25 165.84 90 66 5.51 9.79 14.86 20.07 23.03 25.50 28.29 31.33 34.64 38.29 41.73 45.61 48.85 57.07 64.20 69.76 76.06 84.08 93.03 102.79 113.76 125.86 138.82 152.25 165.84 179.17 91 67 5.97 10.57 15.89 21.79 25.24 28.06 31.11 34.31 37.66 41.34 45.19 48.66 54.15 60.88 68.54 75.16 83.90 92.63 102.79 113.76 125.86 138.82 152.25 165.84 179.17 192.04 92 68 6.46 11.42 17.10 23.84 27.76 30.86 34.09 37.34 40.69 44.78 48.48 53.70 60.13 65.52 74.23 82.31 92.30 102.19 113.76 125.86 138.82 152.25 165.84 179.17 192.04 204.12 93 69 7.01 12.38 18.50 26.20 30.52 33.82 37.10 40.45 44.21 48.30 53.25 59.38 64.52 71.40 81.57 90.75 101.72 113.38 125.86 138.82 152.25 165.84 179.17 192.04 204.12 214.85 94

I2526854US-24 (01-01-2025) (QT27458US24) 57

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![LOGO](g95392dsp270.jpg)

2015 VBT MALE SMOKER ALB Issue Duration Att. Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Ultimate Age 70 7.65 13.48 20.08 28.80 33.45 36.81 40.24 44.09 48.23 52.80 58.62 63.80 69.17 78.44 89.93 100.30 113.03 125.86 138.82 152.25 165.84 179.17 192.04 204.12 214.85 226.52 95 71 8.38 14.70 21.83 31.58 36.42 40.00 43.96 48.13 52.71 57.87 63.26 68.62 75.51 86.37 98.91 112.06 125.64 138.82 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 96 72 9.21 16.04 23.70 34.39 39.35 43.42 47.84 52.05 57.04 62.42 68.04 74.45 83.41 94.74 110.30 124.77 138.64 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 97 73 10.14 17.46 25.64 37.18 42.70 47.15 51.28 55.76 60.80 66.93 73.97 81.06 91.42 107.32 123.27 137.54 152.25 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 98 74 11.14 18.93 27.63 39.96 46.12 50.53 53.74 58.44 65.17 72.96 80.81 89.87 104.73 121.84 136.13 151.70 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 99 75 12.20 20.44 29.68 42.76 48.69 52.99 56.33 62.51 71.27 79.92 89.52 103.57 120.03 134.43 150.99 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 100 76 13.32 22.01 31.84 45.62 51.36 55.87 60.79 69.33 78.34 88.46 102.11 117.60 132.21 150.00 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 101 77 14.50 23.67 34.14 48.61 54.71 59.81 66.90 76.23 86.70 100.05 114.78 129.21 147.91 165.84 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 102 78 15.78 25.45 36.64 51.76 59.13 64.63 73.60 84.34 97.37 111.53 125.78 144.95 164.97 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 103 79 17.17 27.40 39.38 55.33 64.20 70.44 81.40 94.16 107.75 121.80 141.24 163.59 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 104 80 18.73 29.55 42.55 59.35 69.03 77.87 90.43 103.54 117.13 136.44 160.96 179.17 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 105 81 20.48 32.08 46.20 63.61 74.23 85.77 98.91 111.91 130.60 156.75 178.32 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 106 82 22.54 35.01 50.18 68.07 79.78 92.78 106.13 123.81 151.15 176.62 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 107 83 24.96 38.27 54.46 72.72 85.57 99.12 116.05 144.14 174.09 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 108 84 27.69 41.84 59.03 77.45 91.10 107.34 135.72 168.88 192.04 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 109 85 30.74 45.74 63.82 82.09 97.47 125.90 161.00 189.83 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 110 86 34.14 49.95 68.65 86.43 114.67 150.42 185.46 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 111 87 37.88 54.34 73.36 96.63 137.11 178.97 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 112 88 41.90 59.26 77.85 115.37 159.56 204.12 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 113 89 46.11 64.79 86.43 138.24 191.25 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 114 90 51.16 72.96 119.89 178.71 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 115 91 58.87 95.41 177.41 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 116 92 70.75 132.60 214.85 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 117 93 87.36 161.79 226.52 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 118 94 108.95 199.78 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 119 95 137.03 241.13 257.32 275.30 294.79 315.52 336.99 358.54 379.81 400.44 420.09 438.40 455.01 469.56 481.70 491.07 497.31 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 120

I2526854US-24 (01-01-2025) (QT27458US24) 58

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**Exhibit D** 

**Company's Retention Limits** 

**Company's Retention Limits:** 

The Company will retain 33% of each policy, not to exceed the Company's Retention Limits stated below.

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $6000000 |

---

It is understood that the amount retained by the Company includes its retention under any in force policies without the benefit of other reinsurance,

I2526854US-24 (01-01-2025) (QT27458US24) 59

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**Exhibit E** 

**Automatic Issue and Acceptance Limits** 

**Automatic Issue Limit** 

The Automatic Issue Limit available to the Company on a per life basis, including amounts retained by the Company and all automatic reinsurance, will be as follows:

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $26000000 |

---

**Automatic Binding Limit** 

The Automatic Binding Limit which is the maximum amount that may be ceded to the reinsurance pool on an automatic basis by the Company, will be as follows:

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $20000000 |

---

**Automatic Acceptance Limit:** 

The Reinsurer will automatically accept 20.1% of each Policy, not to exceed the limits specified below on a per life basis. If the Company has filled its maximum retention on the life as specified in Exhibit D, the percentage the Reinsurer will automatically accept will increase to 30%, but the limits stated below will not change

---

| | |
|:---|:---|
| **Issue Age** | **Standard – Table P** |
| 18-75 | $6000000 |

---

**Jumbo Limit:** 

The Company will not cede any risk automatically if the total amount in force and applied for on the life with all insurance companies, including any amount to be replaced, exceeds the applicable amounts shown below.

---

| |
|:---|
| **Jumbo Limit** |
| $35000000 |

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**Conditional Receipt or Temporary Insurance Agreement Liability:** 

The amount of coverage provided by the Reinsurer will be limited to its share of the following amounts per life provided by the Company's Conditional Receipt (or Interim Receipt) or Temporary

Insurance Agreement.

---

| |
|:---|
| **Maximum Amount** |
| $3000000 |

---

I2526854US-24 (01-01-2025) (QT27458US24) 60

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**Exhibit F** 

**Reinsurance Reports** 

The Company acknowledges that timely and correct compliance with the reporting requirements of this Agreement are a material element of the Company's responsibilities hereunder and an important basis of the Reinsurer's ability to reinsure the risks hereunder. Consistent and material non-compliance with reporting requirements, including extended delays, will constitute a material breach of the terms of this Agreement.

**Remittance:** The Company will self-administer reinsurance transactions. Reinsurance premiums are payable as specified in the Premium Mode provision in the applicable Exhibit. During each accounting period, as defined below, the Company will report to the Reinsurer all first year and renewal premiums which became due during the previous accounting period. Reporting of business transactions should begin within 90 days of the latter of the effective date or the execution date of the Agreement, including policies with zero first year premium. Any adjustments made necessary by changes in reinsurance effective during a previous accounting period will also be reported.

The Company will take credit, without interest, for any unearned premiums arising due to reductions, cancellations or death claims. The unearned premiums refunded will be net of allowances and policy fees.

The Company will pay the balance of premiums in arrears due under a reinstated Reinsured Policy.

If a net balance is due to the Reinsurer, the Company will forward a remittance in settlement with its report. If the net balance is due to the Company, the Reinsurer will forward a remittance in settlement within 30 days of receipt of the report.

**Report Requirements:** 

The Company will send to the Reinsurer the following TAI reports electronically, by the times indicated below:

---

| | | |
|:---|:---|:---|
|  | **Report** | **Accounting Period** |
| 1. | Transaction Report: | Monthly 25<sup>th</sup> day after month end |
|  | a) New Business |  |
|  | b) Renewal Business |  |
|  | c) Changes & Terminations |  |
| 2. | Inforce Report | Monthly 25<sup>th</sup> day after month end |
| 3. | Policy Exhibit | Monthly 25<sup>th</sup> day after month end |

---

**Minimum Data Requirements for Electronic Administration:** 

Policy record details for new business, renewal business and changes and terminations (Reports #1, 2 and 3 in Report Requirements, above) may be reported as separate reports or combined into one report, hereinafter referred to as the Billings and Transactions Report. Nonetheless, the data elements specified below for the Billings and Transactions Report must be provided for each reported record.

I2526854US-24 (01-01-2025) (QT27458US24) 61

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**Billings and Transactions Report:** 

---

| | | |
|:---|:---|:---|
| **General** | **General** |  |
| 1. | Reporting Period Dates | Specifies the beginning and ending date of the reporting period represented on the statement file. |
| **Insured Data** | **Insured Data** |  |
| 2. | Last Name | Represents the surname or family name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components |
| 3. | First Name | Represents the given name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components. |
| 4. | Middle Name or Middle Initial (if available) | Represents the middle name of the insured; must be specified for each insured on joint policy types; name fields are required to be parsed out into these listed components. |
| 5. | Date of Birth | Specifies the date on which the insured was born; this field must be provided on each insured on a joint policy. |
| 6. | Sex | Indicates the gender of the insured; this field must be provided on each insured on a joint policy. |
| 7. | Tobacco Use Code | Indicates whether the insured is a smoker or user of tobacco products. |
| 8. | Rating | Indicates whether the insured is standard, substandard, or uninsurable. |
| 9. | Residence | State, province, or other geographical code that indicates where the insured resides. |
| 10. | Insured Sequence Number | Specifies the number assigned by the ceding company to delineate one insured from another on a policy with multiple insureds. |
| **Coverage Data** | **Coverage Data** |  |
| 11. | Currency | Indicates the currency to be applied in calculating monetary amounts, if currency within this treaty is a variable on a by policy basis. |
| 12. | Reinsurance Method | Indicates whether the policy is being ceded on an automatic or facultative basis. |
| 13. | Policy Number | Specifies the number assigned by the ceding company to the policy record. |
| 14. | Coverage Sequence Number | Specifies the number assigned by the ceding company to delineate one coverage or benefit from another on a policy with multiple coverages or benefits. |
| 15. | Issue Date | The date the policy or benefit was issued. |
| 16. | Reinsurance Effective Date (if different than issue date) | Specifies the date upon which the reinsurance coverage goes into effect, if it goes into effect on a date other than the issue date. Can also be used to specify the original Policy Issue Date on a contractual policy conversion. |
| 17. | Plan Code | Specifies the plan of insurance being provided to the insured; there must be a separate plan code for each coverage. |

---

I2526854US-24 (01-01-2025) (QT27458US24) 62

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---

| | | |
|:---|:---|:---|
| 18. | Joint Life Indicator | Indicates that the coverage is a joint coverage and that multiple lives are involved with the coverage. |
| 19. | Smoker Code | Indicates that the coverage has been issued at either non-smoker or smoker rates. |
| 20. | Preferred Risk Class | Indicates the level of classification between the preferred and standard categories; there may be more than one level of the preferred classification available, and this will indicate the specific level for this policy. |
| 21. | Mortality Rating | Specifies the exact rating assigned to the policy; premium rates will be based on this rating; this rating is generally expressed as a percentage. |
| 22. | Flat Extra Rate | Specifies a flat rate per thousand to be charged on the policy. |
| 23. | Flat Extra Duration | Specifies the number of years that the flat extra rating will be charged. |
| 24. | Direct Face Amount | Specifies the face amount of the benefit issued to the insured before the purchase of any reinsurance. |
| 25. | Reinsured Face Amount | Specifies the face amount of the reinsurance purchased. |
| 26. | Reinsured Amount at Risk | Specifies the net amount at risk for the current year's reinsurance benefits. |
| 27. | Death Benefit Option | Specifies the option used to calculate the policy net amount at risk on Universal Life products, only. |
| 28. | Coverage Maturity or Expiry Date | Specifies the date on which the insurance coverage will cease, based on the type of plan issued to the insured. |
| 29. | Issue Age | From date of issue, the age at which premiums will be charged when the case does not use a rated age. |
| 30. | Rated Age | From the date of issue, the age at which premiums will be charged when the age is increased for substandard reasons, or when the age is an equivalent age for joint products. |
| 31. | Transaction Code | Indicates the specific action that has occurred to cause a policy to appear on the billing or transaction report, such as New Business, Renewal, Lapse, Death etc. |
| 32. | Transaction Effective Date | Specifies the date on which the transaction is applied to the insured's policy. |
| 33. | Standard Premium | The premium to be paid for the reinsured benefit; this must be specified for each benefit provided on a policy record. |
| 34. | Substandard Premium | In the event that a mortality rating has been assigned, this is the substandard portion of the premium to be paid for the reinsured benefit; this must be specified for each benefit provided on a policy record. |
| 35. | Flat Extra Premium | The premium to be paid the reinsurer for any flat extra premiums assigned to the policy. |
| 36. | Fees | Any additional fees to be charged, such as policy fees |
| 37. | Standard Allowance | The allowance to be taken for the reinsured benefit; this must be specified for each benefit provided on a policy record. |

---

I2526854US-24 (01-01-2025) (QT27458US24) 63

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---

| | | |
|:---|:---|:---|
| 38. | Substandard Allowance | In the event that a mortality rating has been assigned, this is the portion of the allowance to be taken for the substandard premium; this must be specified for each benefit provided on a policy record. |
| 39. | Flat Extra Allowance | In the event a flat extra rating has been assigned to the policy, this is the portion of the allowance to be taken on the flat extra premium; this must be specified for each flat extra premium provided on a policy record. |
| 40. | Fee Allowance | The allowance to be taken for any fees paid on the record. |

---

**Inforce List:** 

As required, a complete listing of all policy records considered to be in force under this Agreement must also be provided to the Reinsurer (Report #2 in Report Requirements, above). Each record on the Inforce List must contain data elements 1–30, as specified in the above listing of data requirements.

**Reporting System:** The system used by the Company to administer its reinsurance is: **TAI**

The Company will inform the Reinsurer at least one reporting period in advance of any change in the reporting format or data prior to its use in reports to the Reinsurer. The Company will provide the Reinsurer with a test file containing such a change prior to its implementation in the production of reports.

**Notification of Acceptance of Facultative Offer:** The Company will promptly advise the Reinsurer of its acceptance of the Reinsurer's underwriting decision pertaining to facultative business by sending notice to the Reinsurer on the next New Business Report, providing the full details of the facultative new business.

**Additional Information:** Upon request, the Company will promptly provide the Reinsurer with any additional information related to the Reinsured Policies and which the Reinsurer requires in order to complete its financial statements.

I2526854US-24 (01-01-2025) (QT27458US24) 64

## Ex-99.(K)

![](g156780thrivent2020_logowreg.jpg)

**Exhibit (k)**

April 29, 2026

Board of Directors <br>Thrivent Financial for Lutherans <br>600 Portland Ave. S., Suite 100 <br>Minneapolis, MN 55415-4402

RE:

Thrivent Variable Life Account I <br>1933 Act File No. 333-103454 <br>1940 Act File No. 811-08289 <br>CIK# 0001039305

Directors:

This opinion is furnished in connection with the filing of Post-Effective Amendment No. 22 by Thrivent Financial for Lutherans ("Thrivent"), as depositor, and the Thrivent Variable Life Account I (the "Variable Account"), as registrant, of the above-described Form N-6 registration statement ("Registration Statement") under the Securities Act of 1933, as amended, (the "1933 Act"). The filing also constitutes Post-Effective Amendment No. 66 to the Registration Statement under the Investment Company Act of 1940, (the "1940 Act"). The Registration Statement covers certain units of interest in the Variable Account pursuant to individual variable life insurance contracts ("Contracts") described therein.

I am an attorney of Thrivent. I am familiar with the legal organization of Thrivent and have reviewed all statements, records, instruments and documents that I have deemed necessary to examine for purposes of this opinion. I am of the opinion that:

1. Thrivent is a fraternal benefit society organized under the laws of the State of Wisconsin;

2. The Variable Account is duly organized under the provisions of the Wisconsin Insurance Code as a variable account under which income, gains or losses, realized or unrealized, from assets allocated to the Variable Account, are credited or charged against the Variable Account under the terms of the Contracts without regard to other income, gains or losses of Thrivent;

3. The portion of the assets held in the Variable Account equal to the reserves and other applicable Contract liabilities with respect to the Variable Account are not chargeable with liabilities arising out of any other business Thrivent may conduct; and

4. The Contracts have been duly authorized by Thrivent, and the securities registered by the Registration Statement will, when sold in a manner contemplated by the Registration Statement, be legally issued and represent binding obligations of Thrivent in accordance with the terms of the Contracts.

I hereby consent to the use of this opinion as an exhibit to the Registration Statement. I do not admit that I am in the category of persons whose consent is required under Section 7 of the Securities Act of 1933 or the rules and regulations of the Securities and Exchange Commission thereunder.

Respectfully,

/s/ Thomas P. Trier

Thomas P. Trier, J.D. <br>Director, Senior Counsel

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## Ex-99.(N)

**Exhibit (n)**

**<u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u>**

We hereby consent to the use in these Post-Effective Amendments No. 23 & 70 to the Registration Statement on Form N-6 (No. 333-103454 & 811-08289) (the "Registration Statement") of our report dated February 13, 2026 relating to the financial statements of Thrivent Financial for Lutherans and consent to the use in the Registration Statement of our report dated April 29, 2026 relating to the financial statements of each of the subaccounts of Thrivent Variable Life Account I indicated in our report. We also consent to the references to us under the heading "Experts" in such Registration Statement.

/s/ PricewaterhouseCoopers LLP

Minneapolis, MN <br>April 29, 2026

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## Ex-99.(S)

**THRIVENT FINANCIAL FOR LUTHERANS**

Power of Attorney

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer and/or director of THRIVENT FINANCIAL FOR LUTHERANS (the "Company"), a Wisconsin fraternal benefit society, does hereby constitute and appoint Paul R. Johnston, Tonia Nicole James Gilchrist, Jenna K. Jenson, and Kathleen M. Koelling, each or any of them, as his or her true and lawful attorney-in-fact and agent, with the full power of substitution and resubstitution to sign in his or her name, place and stead, any and all registration statements, and any amendments or supplements thereto, withdrawals thereof, reports, and any other form of application for exemptive relief, or documents to be filed with the Securities and Exchange Commission or with any other federal or state securities or insurance regulatory agency or authority, and to file the same, with all exhibits thereto and other documents, in connection with:

—

Thrivent Variable Annuity Account I (File No. 333-89488 – [VA2002 & VA2005]), (File No. 333-216125 – [AdvisorFlex VA]), (File No. 333-229611 [AdvisorFlex]); (File No. 333-237618 [Retirement Choice Variable Annuity]);

—

Thrivent Variable Annuity Account II (File No. 333-71853);

—

Thrivent Variable Annuity Account A (File No. 033-82054);

—

Thrivent Variable Annuity Account B (File No. 333-76154);

—

Thrivent Variable Annuity Account C (File No. 333-232464);

—

Thrivent Variable Life Account I (File No. 333-233397 – [Accumulation VUL]), (File No. 333-148578 – [Series 2008]), (File No. 333-103454 – [Series 2003]), (File No. 333-31011 - [Series 1997]);

—

Thrivent Variable Insurance Account A (File No. 333-76152);

—

Thrivent Variable Insurance Account B (File No. 333-232463);

—

Thrivent Variable Insurance Account C (File No. 333-232481);

granting unto such attorney-in-fact, full power and authority to do and perform each and every act and thing requisite and necessary to be done or incidental to the performance and execution of the power herein expressly granted, as fully to all intent and purpose as he or she might or could do in person in his or her capacity as a Director or officer of the Company, hereby ratifying and confirming all that such attorney-in-fact and agent, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

This Power of Attorney hereby revokes any power of attorney previously given by the undersigned relating to the Company's Separate Accounts listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

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| |
|:---|
| /s/John C. Rademacher |
| &nbsp;&nbsp; John C. Rademacher<br> Director<br>|

---

Dated: March 19, 2026

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