# EDGAR Filing Document

**Accession Number:** 0000789545
**File Stem:** 0001193125-26-190871
**Filing Date:** 2026-4
**Character Count:** 44178
**Document Hash:** 9775ac1735fd425fa74af73b845a4384
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-190871.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-190871

**CONFORMED SUBMISSION TYPE**: 497VPU

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**EFFECTIVENESS DATE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Thrivent Variable Insurance Account B
- **CENTRAL INDEX KEY:** 0000789545
- **STANDARD INDUSTRIAL CLASSIFICATION:** LIFE INSURANCE [6311]

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497VPU
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-232463
- **FILM NUMBER:** 26914025

**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:** TLIC VARIABLE INSURANCE ACCOUNT A
- **DATE OF NAME CHANGE:** 20040315

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LBVIP VARIABLE INSURANCE ACCOUNT
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Thrivent Variable Insurance Account B (Series ID: S000002693)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000214624 | Thrivent Variable Insurance Account B |  |

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

---

| | |
|:---|:---|
| ![](g143269thrivent2020_logowreg.jpg) | Thrivent Flexible Premium Variable Life Insurance |
| ![](g143269thrivent2020_logowreg.jpg) | Thrivent Variable Insurance Account B |
| ![](g143269thrivent2020_logowreg.jpg) |  |
| ![](g143269thrivent2020_logowreg.jpg) | Updating Summary Prospectus<br> **April 30, 2026** |

---

This updating summary prospectus summarizes key features of a flexible premium individual variable adjustable life insurance contract (the ["Contract"](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)) previously offered by Thrivent Life Insurance Company, formerly LBVIP, between 1987 and 2003. Thrivent Financial for Lutherans ("Thrivent") replaced Thrivent Life Insurance Company as the issuer on July 1, 2019.

The prospectus for the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) contains more information about the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), including its features, benefits, and risks. You can find the current prospectus and other information about the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) online at dfinview.com/Thrivent/VariableLifeB. You can also obtain this information at no cost by calling 1-800-847-4836, or by sending an email request to mail@thrivent.com.

Additional general information about certain investment products, including variable life insurance, 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**](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) **or passed upon the adequacy of this summary prospectus. Any representation to the contrary is a criminal offense.**

------

Updated Information About Your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)

The information in this Updating Summary Prospectus is a summary of certain [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) features that have changed since the prospectus dated April 30, 2025. This may not reflect all of the changes that have occurred since you entered into your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0).

---

| | |
|:---|:---|
| **Content**  | **Description of Changes** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Important Information You Should <br> Consider About the Contract<br>| The Annual Portfolio Expenses Table was updated to reflect the new range. |
| Overview of the Contract | No changes. |
| Fee Table | The Fee Table has been updated with the new range of Portfolio Expenses.  |
| Premiums | No changes. |
| Standard Death Benefit | No changes. |
| Other Benefits | No changes. |
| Surrenders and Withdrawals | No changes. |
| Lapse and Reinstatement | No changes. |
| Availability of Portfolios | No changes. |
| Other Changes | The Appendix has been revised to reflect the updated performance <br> information and the current expenses for the Portfolios.<br>|

---

**2**

------

Important Information You Should Consider About the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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_c4337e2f-1d29-426c-a98c-7e44368e8813) (early withdrawal charge) consisting of the [Contingent](#cdsc_5d5b381f-1248-4d29-b36e-f77487cb8249)<br> Deferred Sales Charge (CDSC) and the [Deferred Administrative Charge](#dac_3ba2f0aa-41cf-43a1-bdcd-3670b08ac6d8) may <br> be assessed upon surrender, lapse or any decrease in the [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). The <br> [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) will vary depending on the number of years since the last <br> increase in [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). The maximum amount of [Deferred Administrative](#dac_3ba2f0aa-41cf-43a1-bdcd-3670b08ac6d8)<br> Charge that may be charged is $17.90 ($8.33 for VUL 1 [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)s) per $1,000 <br> of decrease in [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). For example, if you make an early withdrawal, <br> you could pay a [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) of up to $1,790 ($833 for VUL 1 [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)s) <br> on a $100,000 decrease. The maximum [Contingent Deferred Sales Charge](#cdsc_5d5b381f-1248-4d29-b36e-f77487cb8249) is <br> 25% of [CDSC Premium](#cdscpremium_85a86fa8-8f39-4a00-958d-3c142d35c119). | A [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) (early withdrawal charge) consisting of the [Contingent](#cdsc_5d5b381f-1248-4d29-b36e-f77487cb8249)<br> Deferred Sales Charge (CDSC) and the [Deferred Administrative Charge](#dac_3ba2f0aa-41cf-43a1-bdcd-3670b08ac6d8) may <br> be assessed upon surrender, lapse or any decrease in the [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). The <br> [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) will vary depending on the number of years since the last <br> increase in [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). The maximum amount of [Deferred Administrative](#dac_3ba2f0aa-41cf-43a1-bdcd-3670b08ac6d8)<br> Charge that may be charged is $17.90 ($8.33 for VUL 1 [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)s) per $1,000 <br> of decrease in [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). For example, if you make an early withdrawal, <br> you could pay a [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) of up to $1,790 ($833 for VUL 1 [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)s) <br> on a $100,000 decrease. The maximum [Contingent Deferred Sales Charge](#cdsc_5d5b381f-1248-4d29-b36e-f77487cb8249) is <br> 25% of [CDSC Premium](#cdscpremium_85a86fa8-8f39-4a00-958d-3c142d35c119). | A [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) (early withdrawal charge) consisting of the [Contingent](#cdsc_5d5b381f-1248-4d29-b36e-f77487cb8249)<br> Deferred Sales Charge (CDSC) and the [Deferred Administrative Charge](#dac_3ba2f0aa-41cf-43a1-bdcd-3670b08ac6d8) may <br> be assessed upon surrender, lapse or any decrease in the [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). The <br> [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) will vary depending on the number of years since the last <br> increase in [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). The maximum amount of [Deferred Administrative](#dac_3ba2f0aa-41cf-43a1-bdcd-3670b08ac6d8)<br> Charge that may be charged is $17.90 ($8.33 for VUL 1 [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)s) per $1,000 <br> of decrease in [Face Amount](#faceamount_2507cc4a-e39b-40f8-b59f-37d4f171f236). For example, if you make an early withdrawal, <br> you could pay a [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) of up to $1,790 ($833 for VUL 1 [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)s) <br> on a $100,000 decrease. The maximum [Contingent Deferred Sales Charge](#cdsc_5d5b381f-1248-4d29-b36e-f77487cb8249) is <br> 25% of [CDSC Premium](#cdscpremium_85a86fa8-8f39-4a00-958d-3c142d35c119). | Charges<br> Fee Table<br>|
| &nbsp;&nbsp; Transaction <br> Charges<br>| In addition to [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813)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_6d7c71bd-e30c-457c-b75e-12ca8e35dae3) or exercise your Accelerated Death Benefit Rider. <br> A percent of premium charge of 3% is deducted upon receipt of most <br> premiums.<br> A partial surrender charge applies upon each partial surrender. The maximum <br> amount deducted is $25 per partial surrender. <br> A transfer charge applies (on VUL 1 Contracts only) to each transfer in excess <br> of the first two transfers made in a [Contract Year](#contractyear_6d7c71bd-e30c-457c-b75e-12ca8e35dae3). The maximum amount <br> deducted is $20 per transfer. <br> You may add an Accelerated Death Benefit Rider to your Contract 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 is terminally ill. An Accelerated Death Benefit Rider charge will <br> be deducted upon the exercise of the benefit. The maximum amount deducted <br> is $150. The charge may vary by state.<br> A premium processing charge of up to $1.00 for each automatic payment and <br> up to $2.00 for other types of payments may apply. | In addition to [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813)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_6d7c71bd-e30c-457c-b75e-12ca8e35dae3) or exercise your Accelerated Death Benefit Rider. <br> A percent of premium charge of 3% is deducted upon receipt of most <br> premiums.<br> A partial surrender charge applies upon each partial surrender. The maximum <br> amount deducted is $25 per partial surrender. <br> A transfer charge applies (on VUL 1 Contracts only) to each transfer in excess <br> of the first two transfers made in a [Contract Year](#contractyear_6d7c71bd-e30c-457c-b75e-12ca8e35dae3). The maximum amount <br> deducted is $20 per transfer. <br> You may add an Accelerated Death Benefit Rider to your Contract 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 is terminally ill. An Accelerated Death Benefit Rider charge will <br> be deducted upon the exercise of the benefit. The maximum amount deducted <br> is $150. The charge may vary by state.<br> A premium processing charge of up to $1.00 for each automatic payment and <br> up to $2.00 for other types of payments may apply. | In addition to [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813)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_6d7c71bd-e30c-457c-b75e-12ca8e35dae3) or exercise your Accelerated Death Benefit Rider. <br> A percent of premium charge of 3% is deducted upon receipt of most <br> premiums.<br> A partial surrender charge applies upon each partial surrender. The maximum <br> amount deducted is $25 per partial surrender. <br> A transfer charge applies (on VUL 1 Contracts only) to each transfer in excess <br> of the first two transfers made in a [Contract Year](#contractyear_6d7c71bd-e30c-457c-b75e-12ca8e35dae3). The maximum amount <br> deducted is $20 per transfer. <br> You may add an Accelerated Death Benefit Rider to your Contract 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 is terminally ill. An Accelerated Death Benefit Rider charge will <br> be deducted upon the exercise of the benefit. The maximum amount deducted <br> is $150. The charge may vary by state.<br> A premium processing charge of up to $1.00 for each automatic payment and <br> up to $2.00 for other types of payments may apply. | Charges<br> Fee Table<br>|
| &nbsp;&nbsp; Ongoing Fees and <br> Expenses (annual <br> charges) | In addition to [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813)s (early withdrawal charges) and transaction <br> charges, investment in the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) is subject to certain ongoing fees and <br> expenses, including fees and expenses covering the cost of insurance under <br> the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), mortality and expense risk charges, monthly administrative <br> charges, basic monthly charges, interest on any [Debt](#debt_f6a76f75-7c2d-43cb-8661-a3d369d57878), and the cost of optional <br> benefits available under the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0). Some of these fees and expenses are <br> set based on characteristics of the [Insured](#insured_6e6f2e7c-8c20-4e98-852e-8468c861c03e) (e.g. age, sex (in most states), and <br> rating classification). See the specifications page of your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) for rates <br> applicable to your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0).<br> Investors will also bear expenses associated with [Portfolios](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) that correspond to <br> [Subaccount](#subaccount_dfe769ff-5eb8-4b2f-9c90-21862e36fb5f)s available under the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), as shown in the following table: | In addition to [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813)s (early withdrawal charges) and transaction <br> charges, investment in the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) is subject to certain ongoing fees and <br> expenses, including fees and expenses covering the cost of insurance under <br> the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), mortality and expense risk charges, monthly administrative <br> charges, basic monthly charges, interest on any [Debt](#debt_f6a76f75-7c2d-43cb-8661-a3d369d57878), and the cost of optional <br> benefits available under the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0). Some of these fees and expenses are <br> set based on characteristics of the [Insured](#insured_6e6f2e7c-8c20-4e98-852e-8468c861c03e) (e.g. age, sex (in most states), and <br> rating classification). See the specifications page of your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) for rates <br> applicable to your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0).<br> Investors will also bear expenses associated with [Portfolios](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) that correspond to <br> [Subaccount](#subaccount_dfe769ff-5eb8-4b2f-9c90-21862e36fb5f)s available under the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), as shown in the following table: | In addition to [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813)s (early withdrawal charges) and transaction <br> charges, investment in the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) is subject to certain ongoing fees and <br> expenses, including fees and expenses covering the cost of insurance under <br> the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), mortality and expense risk charges, monthly administrative <br> charges, basic monthly charges, interest on any [Debt](#debt_f6a76f75-7c2d-43cb-8661-a3d369d57878), and the cost of optional <br> benefits available under the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0). Some of these fees and expenses are <br> set based on characteristics of the [Insured](#insured_6e6f2e7c-8c20-4e98-852e-8468c861c03e) (e.g. age, sex (in most states), and <br> rating classification). See the specifications page of your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) for rates <br> applicable to your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0).<br> Investors will also bear expenses associated with [Portfolios](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) that correspond to <br> [Subaccount](#subaccount_dfe769ff-5eb8-4b2f-9c90-21862e36fb5f)s available under the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), as shown in the following table: | Charges<br> [Appendix](#appendix_d6f53c47-3b5b-4ceb-8c3e-b34187204132)<br> Fee Table |
| &nbsp;&nbsp; Ongoing Fees and <br> Expenses (annual <br> charges) | **Annual Fee** | **Minimum** | **Maximum** | Charges<br> [Appendix](#appendix_d6f53c47-3b5b-4ceb-8c3e-b34187204132)<br> Fee Table |
| &nbsp;&nbsp; Ongoing Fees and <br> Expenses (annual <br> charges) | Annual [Portfolio](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) Expenses (deducted <br> from [Portfolio](#portrfolio_2c45dc00-e6fe-4fad-9ef5-786a7b7cd8f7) assets) <br>| 0.22% | 1.52% | Charges<br> [Appendix](#appendix_d6f53c47-3b5b-4ceb-8c3e-b34187204132)<br> Fee Table |

---

**3**

------

---

| | | |
|:---|:---|:---|
| **RISKS** | **RISKS** | **Location in**<br> **Statutory**<br> **Prospectus**<br>|
| Risk of Loss | You can lose money by investing in this [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), including loss of your <br> premiums (principal), and your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) can lapse without value.<br> Additionally, [Debt](#debt_f6a76f75-7c2d-43cb-8661-a3d369d57878) will reduce your [Accumulated Value](#accumulatedvalue_aba2ce6a-d5c1-4e62-9569-84f6ebc2c6d3) and [Surrender Value](#surrendervalue_2d254e3e-dbc6-449a-ae5b-71259f860cc5), <br> [Death Proceeds](#deathproceeds_745e2fc1-93b0-4ecd-8929-c0ed72f9e1de) and the amount of premiums considered to meet the [Death](#deathbenefitguaranteepremium_986379a5-dc9f-49d5-acf6-115222634d1e)<br> Benefit Guarantee Premium requirement. If you surrender the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) or <br> allow it to lapse while a contract loan is outstanding, the amount of [Debt](#debt_f6a76f75-7c2d-43cb-8661-a3d369d57878), to the <br> extent it has not previously been taxed, will be considered part of the amount <br> you receive and taxed accordingly. Loans may have tax consequences. | Principal Risks of <br> Investing in the <br> [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)<br>|
| &nbsp;&nbsp; Not a Short-Term <br> Investment<br>| This [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) 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_f5288d64-22f4-4724-a97b-4126a09276c0) is to provide a [Death Benefit](#deathbenefit_9676f369-ba75-486c-88bc-8442e5fd8e3c) in the event of the [Insured's](#insured_6e6f2e7c-8c20-4e98-852e-8468c861c03e) death. <br> Surrender charges, expenses, and tax consequences generally make the <br> [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) unsuitable as a short-term investment. | Principal Risks of <br> Investing in the <br> [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)<br>|
| &nbsp;&nbsp; Risk Associated <br> with Investment <br> Options<br>| An investment in this [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) 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_dfe769ff-5eb8-4b2f-9c90-21862e36fb5f)s. The value of <br> each [Subaccount](#subaccount_dfe769ff-5eb8-4b2f-9c90-21862e36fb5f) will increase or decrease, depending on the investment <br> performance of the corresponding [Portfolio](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) and fees and charges under the <br> [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0). You could lose some or all of your money.<br> You should review the available [Portfolio](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69)s' prospectuses before making an <br> investment decision. | Principal Risks of <br> Investing in the <br> [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)<br>|
| &nbsp;&nbsp; Insurance <br> Company Risks<br>| An investment in the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) is subject to risks related to [Thrivent](#thrivent_37c4e914-10d9-431b-99be-40b06a385f5d), including <br> that any obligations, guarantees, and benefits of the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) are subject to <br> the claims-paying ability and financial strength of [Thrivent](#thrivent_37c4e914-10d9-431b-99be-40b06a385f5d). More information <br> about [Thrivent](#thrivent_37c4e914-10d9-431b-99be-40b06a385f5d), 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_f5288d64-22f4-4724-a97b-4126a09276c0)<br>|
| Contract Lapse | Your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) will lapse (that is, terminate without value) if: (1) your [Monthly](#monthlydeduction_bbd97871-a3b6-4676-8378-187a8c4a3f6e)<br> Deductions are greater than your [Cash Surrender Value](#cashsurrendervalue_974091a9-0124-4bc8-a654-7c7276e45f2b); (2) [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)[Debt](#debt_f6a76f75-7c2d-43cb-8661-a3d369d57878)<br> exceeds the [Accumulated Value](#accumulatedvalue_aba2ce6a-d5c1-4e62-9569-84f6ebc2c6d3) less any [Decrease Charge](#decreasecharge_c4337e2f-1d29-426c-a98c-7e44368e8813) and the [Death](#deathbenefitguarantee_754d06c2-f1f3-443f-bb98-ce25bd7f97c9)<br> Benefit Guarantee is not in effect; and (3) payment sufficient to cover the next <br> two [Monthly Deductions](#monthlydeduction_bbd97871-a3b6-4676-8378-187a8c4a3f6e) is not received within 61 days (in most states) of <br> notification of the accumulated value deficiency. No [Death Benefit](#deathbenefit_9676f369-ba75-486c-88bc-8442e5fd8e3c) will be paid <br> if the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) is lapsed. Payment will be required to reinstate the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0). <br> We will reinstate a [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) only if our requirements for reinstatement are <br> satisfied, which may include requiring new proof of insurability of the [Insured](#insured_6e6f2e7c-8c20-4e98-852e-8468c861c03e)<br> person.  | Lapse and <br> Reinstatement<br>|

---

**4**

------

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| | | |
|:---|:---|:---|
| **RESTRICTIONS** | **RESTRICTIONS** | **Location in**<br> **Statutory**<br> **Prospectus**<br>|
| Investments  | We place limits on frequent trading. <br> There is a $20 charge (to VUL 1 Contracts only) for each transfer when you <br> transfer money between investment options in excess of 2 times a year. <br> [Thrivent](#thrivent_37c4e914-10d9-431b-99be-40b06a385f5d) reserves the right to remove or substitute [Portfolio](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) companies as <br> investment options that are available under the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0). <br> We will also have the right to limit or refund a premium payment or make <br> distributions from the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) as necessary to continue to qualify the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)<br> as life insurance under federal tax law or to avoid the classification of your <br> [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) as a "modified endowment contract" (MEC). | Frequent Trading <br> Among <br> [Subaccounts](#subaccount_dfe769ff-5eb8-4b2f-9c90-21862e36fb5f) 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](#additionalbenefit_edc61a0a-7349-4b3b-90d9-48104b60462d) from the <br> [Accumulated Value](#accumulatedvalue_aba2ce6a-d5c1-4e62-9569-84f6ebc2c6d3) as part of the [Monthly Deduction](#monthlydeduction_bbd97871-a3b6-4676-8378-187a8c4a3f6e). 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_f5288d64-22f4-4724-a97b-4126a09276c0) 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_f5288d64-22f4-4724-a97b-4126a09276c0)<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_f5288d64-22f4-4724-a97b-4126a09276c0). <br> Distributions from your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0), 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_f5288d64-22f4-4724-a97b-4126a09276c0) 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_f5288d64-22f4-4724-a97b-4126a09276c0) is a MEC. <br> The transfer of the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) or designation of a [Beneficiary](#beneficiary_3dc895d9-3342-4d7c-a357-280f7faeca7c) 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_f5288d64-22f4-4724-a97b-4126a09276c0) 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_f5288d64-22f4-4724-a97b-4126a09276c0), or another contract <br> issued by Thrivent, over another investment. | Distribution of the <br> [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0)<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_f5288d64-22f4-4724-a97b-4126a09276c0)<br>|

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**5**

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Special Terms

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| | |
|:---|:---|
| **Accelerated Death Benefits Rider** | This benefit allows the Owner to receive a portion of the Death Benefit <br> while the Insured is living.<br>|
| **Accumulated Value** | The total amount of value held under a Contract at any time (which equals <br> the sum of the amounts held in the Loan Account and Variable Account). <br> The Accumulated Value, unlike the Cash Surrender Value, is not reduced <br> by any Decrease Charge or Contract Debt.<br>|
| **Beneficiary**  | The person(s) named by the Contract Owner to receive the death proceeds <br> under the Contract. A Beneficiary need not be a natural person.<br>|
| **Cash Surrender Value** | The Accumulated Value less any Contract Debt, the amount, if any, needed <br> to cover unpaid Monthly Deductions and any Decrease Charge.<br>|
| **CDSC Premium**  | An annual premium amount determined by us and used solely for the <br> purpose of calculating the maximum Contingent Deferred Sales Charge.<br>|
| **Contingent Deferred Sales Charge** | A charge to compensate us for the cost of selling the Contract, including <br> sales commissions, prospectuses and sales literature, and advertising.<br>|
| **Contract**  | The flexible premium variable adjustable life insurance contract offered by <br> Thrivent and described in this prospectus consisting of the certificate of <br> insurance, any attached riders, amendments or endorsements, the <br> application and our Articles of Incorporation and Bylaws.<br>|
| **Contract Anniversary** | The same month and day of each year after issue as in the Date of Issue. |
| **Contract Year**  | The period from one Contract Anniversary to the next. The first Contract <br> Year was the period beginning on the Date of Issue and ending on the first <br> Contract Anniversary.<br>|
| **Date of Issue**  | The date shown on page 3 of the Contract that is used to determine <br> Contract Anniversaries, Monthly Anniversaries, Contract Years and <br> Contract Months, each of which is measured from the Date of Issue.<br>|
| **Death Benefit**  | The amount calculated under the applicable Death Benefit Option (Option A <br> or Option B). The Death Benefit should be distinguished from the cash <br> proceeds payable on the Insured's death, which will be the Death Benefit <br> less Contract Debt and any unpaid Monthly Deductions.<br>|
| **Death Benefit Guarantee** | A feature of the Contract guaranteeing that the Contract will not lapse if on <br> each Monthly Anniversary the total cumulative premiums paid under the <br> Contract, less any partial surrenders and Contract Loan Amount, equal or <br> exceed the sum of the Death Benefit Guarantee Premiums in effect for <br> each Monthly Anniversary since the issuance of the Contract.<br>|
| **Death Benefit Guarantee Premium** | A monthly premium amount specified in the Contract. The Death Benefit <br> Guarantee Premium determines the payments required to maintain the <br> Death Benefit Guarantee.<br>|
| **Debt** | The sum of all unpaid Contract loans (including any unpaid loan interest <br> added to the loan balance) outstanding on a relevant date, less any <br> unearned prepaid loan interest. Contract Debt should be distinguished from <br> the Loan Amount (see definition of "Loan Amount" below), in that the Loan <br> Amount includes any unearned prepaid loan interest.<br>|
| **Decrease Charge** | A deferred Contract charge consisting of the Contingent Deferred Sales <br> Charge and the Deferred Administrative Charge. The Decrease Charge is <br> deducted from the Subaccounts of the Variable Account and paid to <br> Thrivent upon full lapse or surrender of the Contract, or in part upon a <br> requested decrease in Face Amount. A separate amount of Decrease <br> Charge is determined for each requested increase in Face Amount.<br>|

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**6**

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| | |
|:---|:---|
| **Deferred Administrative Charge** | A charge to reimburse Thrivent for administrative expenses incurred in <br> processing requested increases. The Deferred Administrative Charge will <br> be imposed if the Contract is surrendered or lapses, or will be imposed in <br> part if the Contract Owner requests a decrease in the Face Amount. A <br> separate charge applies for a set period of time following each requested <br> increase in Face Amount.<br>|
| **Face Amount**  | The minimum Death Benefit under the Contract as long as the Contract <br> remains in force. The Face Amount will be specified in the Contract.<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>|
| **Insured**  | The person upon whose life the Contract is issued.  |
| **Monthly Anniversary** | The date each month on which we deduct charges from Accumulated <br> Value. These monthly deductions occur once each month on the Valuation <br> Date, on or next following the day of the month which corresponds to the <br> day of the month that we issued the Contract.<br>|
| **Monthly Deduction** | Monthly charges deducted from the Accumulated Value of the Contract. <br> These charges include the cost of insurance charge; a Basic Monthly <br> Administrative Charge ($10.00 per month for the Contract and $4.00 per <br> month for VUL 1 Contracts); the Initial Monthly Administrative Charge; and <br> charges for additional insurance benefits. "Monthly Deduction" also <br> includes any Decrease Charge being deducted for a requested decrease in <br> Face Amount during the preceding Contract Month.<br>|
| **Owner** | The Insured, unless otherwise designated in the application. If a Contract <br> has been absolutely assigned, the assignee becomes the Contract Owner. <br> A collateral assignee is not the Contract Owner.<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>|
| **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>|
| **Valuation Date** | Any day that the New York Stock Exchange is open for regular trading. |
| **Variable Account** | Thrivent Variable Insurance Account B, which is a separate account of <br> Thrivent. The Subaccounts are subdivisions of the Variable Account.<br>|
| **we, us, our** | Thrivent. |
| **you, your** | The Owner(s) of the Contract. |

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**7**

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Appendix: Portfolios Available Under the Contract

The following is a list of [Portfolios](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) that correspond to subaccounts available under the [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0). More information about the [Portfolios](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) is available in the prospectuses for the [Portfolios](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69), which may be amended from time to time and can be found online at dfinview.com/Thrivent/VariableLifeB. 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_1572456f-8b6b-406b-bd1f-728d8d612a69) but does not reflect the other fees and expenses that your [Contract](#contract_f5288d64-22f4-4724-a97b-4126a09276c0) may charge. Expenses would be higher and performance would be lower if these charges were included. Each [Portfolio's](#portfolio_1572456f-8b6b-406b-bd1f-728d8d612a69) 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> <br>| 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> <br>| 32.20% | 2.10% | 7.47% |
| Large Blend | **Thrivent ESG Index Portfolio** | 0.36%<sup>1</sup> <br>| 17.78% | 13.56% | N/A<sup>3</sup> <br>|
| &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> <br>|
| 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> <br>| 2.50% | 1.10% | N/A<sup>3</sup> <br>|
| &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> <br>| 10.82% | 11.31% | N/A<sup>3</sup> <br>|
| &nbsp;&nbsp; Moderate <br> Allocation<br>| **Thrivent Moderate Allocation Portfolio** | 0.70%<sup>1</sup> <br>| 13.63% | 7.13% | 8.38% |

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**8**

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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> <br>| 15.46% | 8.30% | 9.69% |
| &nbsp;&nbsp; Moderately <br> Conservative <br> Allocation<br>| **Thrivent Moderately Conservative Allocation Portfolio** | 0.65%<sup>1</sup> <br>| 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> <br>| 1.87% | 1.37% | N/A<sup>2</sup> <br>|
| 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.

**9**

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![](g143269thriventballard.jpg)

![](g143269nppost.jpg)

This updating summary prospectus incorporates by reference the Thrivent flexible premium individual variable adjustable life insurance prospectus and Statement of Additional Information (SAI), both dated April 30, 2026, as amended or supplemented.

The 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/VariableLifeB. 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. Not available in all states. 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 Forms V2-VL-VUL, V2-VU-VUL and V3-YC-VUL and state variations.

EDGAR Contract No. C000214624 VP20 (VIP)SPRU R4-26

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