# EDGAR Filing Document

**Accession Number:** 0001173488
**File Stem:** 0001193125-26-190762
**Filing Date:** 2026-4
**Character Count:** 60012
**Document Hash:** 93b980694c90a9922891435970558258
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-190762.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-190762

**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 ANNUITY ACCOUNT I
- **CENTRAL INDEX KEY:** 0001173488

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

**FILING VALUES:**
- **FORM TYPE:** 497VPU
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-89488
- **FILM NUMBER:** 26913781

**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

## Series and Classes Contracts Data

### THRIVENT VARIABLE ANNUITY ACCOUNT I (Series ID: S000002686)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000007338 | VA I         |  |

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

---

| | |
|:---|:---|
| ![](g107230thrivent2020_logowreg.jpg) | &nbsp;&nbsp; Thrivent Flexible Premium Deferred <br> Variable Annuity<br>|
| ![](g107230thrivent2020_logowreg.jpg) | <br> Thrivent Variable Annuity Account I |
| ![](g107230thrivent2020_logowreg.jpg) |  |
| ![](g107230thrivent2020_logowreg.jpg) | Updating Summary Prospectus |
| ![](g107230thrivent2020_logowreg.jpg) | **April 30, 2026** |

---

This updating summary prospectus summarizes key features of the Thrivent Flexible Premium Deferred Variable Annuity [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) (the "Contract") offered between 2005 and 2022 by Thrivent Financial for Lutherans ("Thrivent," "we," "us" or "our"), a fraternal benefit society organized under Wisconsin law. It also describes the flexible premium variable annuity contract we offered between 2002 and 2005.

The [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is a complex investment and involves risks, including potential loss of principal. The [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is not a short-term investment as is not appropriate for an investor who needs ready access to cash. Withdrawals could result in surrender charges, negative contract adjustments, taxes, and tax penalties.

This [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) allows you to elect a [Fixed Period Allocation](#fpa_6e1a1c0c-3f27-4ae4-80d1-f73086e7f8ac) that offers a guaranteed interest rate for a specified term. If all or a portion of [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) is removed from a [Fixed Period Allocation](#fpa_6e1a1c0c-3f27-4ae4-80d1-f73086e7f8ac) more than 30 days before the end of the allocation period, a [Market Value Adjustment](#mva_655d4b31-022e-44b2-ba39-9acecf30136b) (MVA) may be applied, which may be negative or positive. In extreme circumstances, a negative MVA could significantly reduce the amount you receive. You could lose up to 100% of the value in a Fixed Period Allocation due to a negative MVA.

Thrivent's obligations under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) are subject to its financial strength and claims-paying ability.

The statutory prospectus for the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) contains more information about the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), including its features, benefits and risks. You can find the current statutory prospectus and other information about the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is available online at dfinview.com/Thrivent/FlexDefVA. You can also request paper copies at no cost by calling 1-800-847-4836, or by sending an email request to mail@thrivent.com.

Additional information about certain investment products, including variable annuities, 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 these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.**

------

**Table of Contents**

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

---

| | |
|:---|:---|
| [Special Terms](#xx_d75da7b3-aa8d-49c1-991a-3efaea7065fa_1) | 3 |
| [Updated Information About Your Contract](#xx_96c1ea12-afe6-42e3-a7e3-b355ac0b2e9a_1) | 4 |
| [Important Information You Should Consider About the Contract](#xx_96c1ea12-afe6-42e3-a7e3-b355ac0b2e9a_2) | 5 |
| [Appendix: Investment Options Available Under the Contract](#xx_c27ddb45-883f-4cb7-8195-c1641293f454_1) | 12 |

---

**2**

------

Special Terms

---

| | |
|:---|:---|
| **Accumulated Value** | The sum of the values for your Contract in Subaccounts, the Fixed Account, and <br> Fixed Period Allocations.<br>|
| **Annuity Date**  | A date when annuity payments will begin. |
| **Contract**  | The flexible premium deferred variable annuity contracts offered by Thrivent and <br> described in this prospectus.<br>|
| **Contract Anniversary** | The same date in each succeeding year as the Date of Issue. |
| **Contract Year**  | The period from one Contract Anniversary to the next. |
| **Fixed Account**  | Part of the general account of Thrivent, which includes all of Thrivent assets other <br> than those in any Variable Account of Thrivent. For the current interest rate, please <br> call our Service Center at 1-800-847-4836.<br>|
| **Fixed Period Allocations**  | An allocation to the MVA Account for a specified allocation period for which the <br> interest rate is guaranteed. Surrenders or transfers from a Fixed Period Allocation <br> may be subject to a Market Value Adjustment. For the current Fixed Period <br> Allocations available and their interest rates, please call our Service Center at <br> 1-800-847-4836. <br>|
| **Investment Option** | A Variable Option, the Fixed Account, or a Fixed Period Allocation available in this <br> Contract.<br>|
| **Market Value Adjustment**  | A positive or negative adjustment to accumulated value in Fixed Period Allocations <br> when amounts are surrendered from Fixed Period Allocations, except that no <br> adjustments will be applied to surrenders from a Fixed Period Allocation within 30 <br> days before the end of its allocation period.<br>|
| **MVA Account**  | Market Value Adjustment Account is the account to which an investment in the Fixed <br> Period Allocation is made. This is part of the General Account of Thrivent. <br>|
| **Portfolio**  | Each subaccount invests exclusively in the shares of a corresponding Portfolio of the <br> Fund.<br>|
| **Qualified Plan**  | A retirement plan that receives favorable tax treatment under Section 401, 403, 408, <br> or 408A or similar provisions of the Internal Revenue Code.<br>|
| **Service Center**  | Thrivent, 4321 North Ballard Road, Appleton, Wisconsin 54919-0001, telephone, <br> 1-800-847-4836, or such other office as we may specify in a notice to the Contract <br> Owner.<br>|
| **Subaccount**  | A subdivision of the Variable Account. Each Subaccount invests exclusively in the <br> shares of a corresponding Portfolio.<br>|
| **Surrender Charge** | A charge that applies to withdrawals that have not met the waiting period. |
| **Variable Option** | An Investment Option under the Contract of which the value of the contract, either <br> during the accumulation phase or after annuitization, or both, varies according to the <br> investment experience of a Subaccount.<br>|

---

**3**

------

Updated Information About Your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9)

The information in this updating summary prospectus is a summary of certain [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) 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_03bad549-a99c-4458-a202-9c8dbf8b3ca9).

---

| | |
|:---|:---|
| **Content**  | **Description of Changes** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Important Information You Should <br> Consider About the Contract<br>| The Annual Portfolio expenses tables were updated to reflect the new range. <br> The lowest and highest annual cost examples have been revised to reflect <br> the new range.<br>|
| Fee Table | The Fee Tables have been updated with the new range of Portfolio <br> Expenses.<br>|
| Other Changes | The Appendix has been revised to reflect the updated performance <br> information and the current expenses for the Portfolios.<br>|

---

**4**

------

Important Information You Should Consider About the Contract

---

| | | |
|:---|:---|:---|
| **FEES AND EXPENSES (Contract W-BC-FPVA (05) Issued from May 2005 through December 2022)** | **FEES AND EXPENSES (Contract W-BC-FPVA (05) Issued from May 2005 through December 2022)** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; Are There Charges <br> or Adjustments for <br> Early Withdrawals?<br>| **Yes.** If you request a full or partial surrender within the first 7 Contract Years, you <br> may be assessed a [Surrender Charge](#surrendercharge_d9eae0e7-5630-4bc3-b0a8-b05530d43b78). The maximum [Surrender Charge](#surrendercharge_d9eae0e7-5630-4bc3-b0a8-b05530d43b78) is 7% <br> during the first year and declines by 1% annually. If you make a full or partial <br> surrender in the first 7 Contract Years, you could pay a [Surrender Charge](#surrendercharge_d9eae0e7-5630-4bc3-b0a8-b05530d43b78) of up to <br> $7,000 on a $100,000 investment. This loss will be greater if there are taxes and/or <br> tax penalties. <br> In each [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c) you may surrender without a [Surrender Charge](#surrendercharge_d9eae0e7-5630-4bc3-b0a8-b05530d43b78) up to 10% of <br> the [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) existing at the time the first surrender is made in that <br> [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c).<br> If all or a portion of [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) is removed from a [Fixed Period Allocation](#fpa_6e1a1c0c-3f27-4ae4-80d1-f73086e7f8ac)<br> more than 30 days before the end of the allocation period, a [Market Value](#mva_655d4b31-022e-44b2-ba39-9acecf30136b)<br> Adjustment (MVA) may be applied, which may be negative. In extreme <br> circumstances, a negative MVA could significantly reduce the amount you receive. <br> You could lose up to 100% of the value in a Fixed Period Allocation due to a <br> negative MVA. For example, if you invest $100,000 in a Fixed Period Allocation, and <br> then transfer or withdraw the full amount before the end of the allocation period, you <br> could lose up to the entire value ($100,000 premium plus any interest.)  | Fee Table |
| &nbsp;&nbsp; Are There <br> Transaction <br> Charges?<br>| **Yes.** In addition to [Surrender Charge](#surrendercharge_d9eae0e7-5630-4bc3-b0a8-b05530d43b78)s and [Market Value Adjustment](#mva_655d4b31-022e-44b2-ba39-9acecf30136b)s, there may <br> also be charges for other transactions.<br> You may make 12 free [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0) transfers in each [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c). On subsequent <br> [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0) transfers (other than the Dollar Cost Averaging and Asset Rebalancing <br> programs), you will incur a $25 transfer charge.<br> You will also pay a charge if you request a wire transfer of funds from your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9)<br> to another financial institution. That financial institution may also charge a fee to <br> receive a wire. You will also pay a charge if you request to have a check sent to you <br> using an overnight mail service. | Fee Table |

---

**5**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | **Yes.** The table below describes the fees and expenses that you may pay *each year*, <br> depending on the investment options you choose. Please refer to your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9)<br> specifications page for information about the specific fees you will pay each year <br> based on the options you have elected.  | **Yes.** The table below describes the fees and expenses that you may pay *each year*, <br> depending on the investment options you choose. Please refer to your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9)<br> specifications page for information about the specific fees you will pay each year <br> based on the options you have elected.  | **Yes.** The table below describes the fees and expenses that you may pay *each year*, <br> depending on the investment options you choose. Please refer to your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9)<br> specifications page for information about the specific fees you will pay each year <br> based on the options you have elected.  | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | **Annual Fee** | **Minimum** | **Maximum** | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Base Contract (as a percentage of daily <br> net assets of each [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614)):<br>|  |  | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Contract Years 1-7 | 0.0% | 1.25% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Contract Years 8+ | 0.0% | 1.15% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) Company fees and expenses <br> (Expenses that you pay as a percentage <br> of your investment. Expenses may be <br> higher or lower in future years. More <br> detail is contained in the prospectus for <br> each [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614).)<br>| 0.22% | 1.52% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | **Optional benefits available for an** <br> **additional charge**<br>| **Minimum** | **Maximum** | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Maximum Anniversary Death Benefit <br> (MADB)<br>| 0.0% | 0.20% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Premium Accumulation Death Benefit <br> (PADB)<br>| 0.0% | 0.40% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Earnings Addition Death Benefit (EADB) | 0.0% | 0.25% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | MADB and PADB | 0.0% | 0.50% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | MADB and EADB | 0.0% | 0.35% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | PADB and EADB | 0.0% | 0.55% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | MADB and PADB and EADB | 0.0% | 0.65% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Return Protection Allocation (RPA) as a <br> percentage of assets in the RPA <br> [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0)s<br>| 0.0% | 0.75% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | MADB and RPA | 0.0% | 0.95% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Guaranteed Lifetime Withdrawal Benefit <br> (GLWB) Rider Charge<br>| 0.0% | 1.25% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Because your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is customizable, the choices you make affect how much you <br> will pay. To help you understand the cost of owning your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), the following table <br> shows the lowest and highest cost you could pay *each year*, based on current <br> charges. This estimate assumes that you do not take withdrawals from the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), <br> **which could add** [**Surrender Charge**](#surrendercharge_d9eae0e7-5630-4bc3-b0a8-b05530d43b78)**s and negative Contract Adjustments that** <br> **substantially increase costs.**  | Because your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is customizable, the choices you make affect how much you <br> will pay. To help you understand the cost of owning your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), the following table <br> shows the lowest and highest cost you could pay *each year*, based on current <br> charges. This estimate assumes that you do not take withdrawals from the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), <br> **which could add** [**Surrender Charge**](#surrendercharge_d9eae0e7-5630-4bc3-b0a8-b05530d43b78)**s and negative Contract Adjustments that** <br> **substantially increase costs.**  | Because your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is customizable, the choices you make affect how much you <br> will pay. To help you understand the cost of owning your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), the following table <br> shows the lowest and highest cost you could pay *each year*, based on current <br> charges. This estimate assumes that you do not take withdrawals from the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), <br> **which could add** [**Surrender Charge**](#surrendercharge_d9eae0e7-5630-4bc3-b0a8-b05530d43b78)**s and negative Contract Adjustments that** <br> **substantially increase costs.**  | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | **Lowest Annual Cost: $1,506** | **Highest Annual Cost: $3,516** | **Highest Annual Cost: $3,516** | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Assumes: | Assumes: | Assumes: | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Investment of $100,000 | Investment of $100,000 | Investment of $100,000 | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | 5% annual appreciation  | 5% annual appreciation  | 5% annual appreciation  | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | Least expensive [Portfolio fees and](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614)<br> expenses<br>| Most expensive [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) fees and <br> expenses | Most expensive [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) fees and <br> expenses | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | No optional benefits or riders | All 3 optional death benefits: MADB, <br> EADB and PADB | All 3 optional death benefits: MADB, <br> EADB and PADB | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | No sales charges  | No sales charges | No sales charges | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses?  | No additional purchase payments, <br> transfers or withdrawals <br>| No additional purchase payments, <br> transfers or withdrawals | No additional purchase payments, <br> transfers or withdrawals | Fee Table |

---

**6**

------

---

| | | |
|:---|:---|:---|
| **RISKS** | **RISKS** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; Is There a Risk of <br> Loss from Poor <br> Performance?<br>| **Yes.** You can lose money investing in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). | Principal <br> Risks of <br> Investing in <br> the <br> Contract<br>|
| &nbsp;&nbsp; Is This a <br> Short-Term <br> Investment?<br>| **No.** The [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is not a short-term investment and is not appropriate for an <br> investor if you need ready access to cash. Amounts withdrawn from the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9)<br> may result in surrender charges, taxes, and tax penalties.<br> Amounts withdrawn from a Fixed Period Allocation more than 30 days before the <br> end of an allocation period may result in a negative [Market Value Adjustment](#mva_655d4b31-022e-44b2-ba39-9acecf30136b). | Principal <br> Risks of <br> Investing in <br> the <br> Contract<br>|
| &nbsp;&nbsp; What Are the Risks <br> Associated with <br> the [Investment](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)<br> Options?<br>| An investment in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is subject to the risk of poor investment performance <br> and can vary depending on the performance of the [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s available <br> under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). Each [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b) (including the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) and Fixed <br> Period Allocations) will have its own unique risks, and you should review these <br> [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s before making an investment decision. | Principal <br> Risks of <br> Investing in <br> the <br> Contract<br>|
| &nbsp;&nbsp; What are the Risks <br> Related to the <br> Insurance <br> Company? <br>| An investment in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is subject to the risks related to Thrivent. Any <br> obligations (including those under the Fixed Account and Fixed Period Allocations), <br> guarantees or benefits are subject to the claims-paying ability of Thrivent. More <br> information about Thrivent, including its financial strength ratings are available upon <br> request by calling (800) 847-4836 or by sending an email to mail@thrivent.com. | Principal <br> Risks of <br> Investing in <br> the <br> Contract <br>|
| **RESTRICTIONS** | **RESTRICTIONS** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; Are There <br> Restrictions on the <br> [Investment](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)<br> Options? <br>| **Yes.** We reserve the right to add, delete, combine or substitute [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s. <br> If you have added the optional GLWB Rider to your Contract, you will be subject to <br> investment restrictions. Please see the Appendix for more information about the <br> GLWB Rider investment restrictions. <br> You may make 12 free [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0) transfers in each [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c). On subsequent <br> [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0) transfers (other than the Dollar Cost Averaging and Asset Rebalancing <br> programs), you will incur a $25 transfer charge.<br> If you have money in the Fixed Account, the amount transferred from the [Fixed](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f)<br> Account in any [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c) may not exceed the greater of $500 or 25% of the <br> [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) in the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f).<br> Premium amounts of $1 million or greater require prior approval. We reserve the <br> right to limit the total of all premiums paid under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) to $1 million. Additional <br> premiums must be at least $50. | Purchases <br> and <br> Contract <br> Value – <br> Fixed <br> Account<br>|
| &nbsp;&nbsp; Are There Any <br> Restrictions on <br> Contract Benefits? <br>| **Yes.** You may only select optional living or optional death benefits at the time of <br> issue. <br> The optional death benefit values are decreased by the same proportion as the <br> [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) is decreased by a partial surrender. This may reduce the benefit <br> values by an amount greater than the value withdrawn or could terminate the <br> benefits.<br> If you have the optional living benefit (GLWB Rider) and take excess withdrawals it <br> will reduce the benefit by an amount greater than the value withdrawn, or could <br> terminate the benefit. | Benefits <br> Available <br> Under the <br> Contract<br>|

---

**7**

------

---

| | | |
|:---|:---|:---|
| **TAXES** | **TAXES** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; Taxes – What are <br> the Contract's Tax <br> Implications?<br>| You should consult with a tax professional to determine the tax implications of an <br> investment in and withdrawals or benefits received under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). There is no <br> additional tax benefit if the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is purchased through a tax-qualified plan or <br> individual retirement account (IRA). Withdrawals may be subject to ordinary income <br> tax and may be subject to a 10% federal tax penalty, if under age 59 <sup>1</sup>∕2 and no <br> exception applies. | Taxes |
| **CONFLICTS OF INTEREST** | **CONFLICTS OF INTEREST** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; How are <br> Investment <br> Professionals <br> Compensated? <br>| The financial advisor or professional will receive compensation whenever you submit <br> additional premiums. In addition, they may receive trailing compensation based on <br> the Contract's [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605). <br> Financial advisors or professionals may have an incentive to offer or recommend the <br> [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) over another investment. They may also have an incentive to recommend <br> you move to a new product. | Distribution <br> of the <br> Contracts<br>|
| &nbsp;&nbsp; Should I Exchange <br> My Contract? <br>| Some financial advisors or professionals may have a financial incentive to offer you <br> a new contract in place of the one you already own. You should only exchange your <br> [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) if you determine, after comparing the features, fees, and risks of both <br> contracts, and any fees or penalties to terminate the existing contract, that it is <br> preferable for you to purchase the new [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) rather than continue to own the <br> existing contract. | Taxes – <br> Exchanges <br> of Annuity <br> Contracts<br>|

---

**8**

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **FEES AND EXPENSES (Contract W-BB-FPVA (02) Issued between November 2002 & May** <br> **2005)** | &nbsp;&nbsp; **FEES AND EXPENSES (Contract W-BB-FPVA (02) Issued between November 2002 & May** <br> **2005)** | &nbsp;&nbsp; **FEES AND EXPENSES (Contract W-BB-FPVA (02) Issued between November 2002 & May** <br> **2005)** | &nbsp;&nbsp; **FEES AND EXPENSES (Contract W-BB-FPVA (02) Issued between November 2002 & May** <br> **2005)** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; Are There Charges <br> or Adjustments for <br> Early Withdrawals?<br>| **Yes.** If all or a portion of [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) is removed from a Fixed Period <br> Allocation more than 30 days before the end of the allocation period, a Market <br> Value Adjustment (MVA) may be applied, which may be negative. In extreme <br> circumstances, a negative MVA could significantly reduce the amount you <br> receive. You could lose up to 100% of the value in a Fixed Period Allocation <br> due to a negative MVA. For example, if you invest $100,000 in a Fixed Period <br> Allocation, and then transfer or withdraw the full amount before the end of the <br> allocation period, you could lose up to the entire value ($100,000 premium <br> plus any interest.)  | **Yes.** If all or a portion of [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) is removed from a Fixed Period <br> Allocation more than 30 days before the end of the allocation period, a Market <br> Value Adjustment (MVA) may be applied, which may be negative. In extreme <br> circumstances, a negative MVA could significantly reduce the amount you <br> receive. You could lose up to 100% of the value in a Fixed Period Allocation <br> due to a negative MVA. For example, if you invest $100,000 in a Fixed Period <br> Allocation, and then transfer or withdraw the full amount before the end of the <br> allocation period, you could lose up to the entire value ($100,000 premium <br> plus any interest.)  | **Yes.** If all or a portion of [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) is removed from a Fixed Period <br> Allocation more than 30 days before the end of the allocation period, a Market <br> Value Adjustment (MVA) may be applied, which may be negative. In extreme <br> circumstances, a negative MVA could significantly reduce the amount you <br> receive. You could lose up to 100% of the value in a Fixed Period Allocation <br> due to a negative MVA. For example, if you invest $100,000 in a Fixed Period <br> Allocation, and then transfer or withdraw the full amount before the end of the <br> allocation period, you could lose up to the entire value ($100,000 premium <br> plus any interest.)  | Fee Table |
| &nbsp;&nbsp; Are There <br> Transaction <br> Charges?<br>| **Yes.** There may be charges for other transactions.<br> You may make 12 free Subaccount transfers in each [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c). On <br> subsequent Subaccount transfers (other than the Dollar Cost Averaging and <br> Asset Rebalancing programs), you will incur a $25 transfer charge. <br> You will also pay a charge if you request a wire transfer of funds from your <br> [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) to another financial institution. That financial institution may also <br> charge a fee to receive a wire. You will also pay a charge if you request to <br> have a check sent to you using an overnight mail service. | **Yes.** There may be charges for other transactions.<br> You may make 12 free Subaccount transfers in each [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c). On <br> subsequent Subaccount transfers (other than the Dollar Cost Averaging and <br> Asset Rebalancing programs), you will incur a $25 transfer charge. <br> You will also pay a charge if you request a wire transfer of funds from your <br> [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) to another financial institution. That financial institution may also <br> charge a fee to receive a wire. You will also pay a charge if you request to <br> have a check sent to you using an overnight mail service. | **Yes.** There may be charges for other transactions.<br> You may make 12 free Subaccount transfers in each [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c). On <br> subsequent Subaccount transfers (other than the Dollar Cost Averaging and <br> Asset Rebalancing programs), you will incur a $25 transfer charge. <br> You will also pay a charge if you request a wire transfer of funds from your <br> [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) to another financial institution. That financial institution may also <br> charge a fee to receive a wire. You will also pay a charge if you request to <br> have a check sent to you using an overnight mail service. | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | **Yes.** The table below describes the fees and expenses that you may pay <br> *each year*, depending on the investment options you choose. Please refer to <br> your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) specifications page for information about the specific fees you <br> will pay each year based on the options you have elected.  | **Yes.** The table below describes the fees and expenses that you may pay <br> *each year*, depending on the investment options you choose. Please refer to <br> your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) specifications page for information about the specific fees you <br> will pay each year based on the options you have elected.  | **Yes.** The table below describes the fees and expenses that you may pay <br> *each year*, depending on the investment options you choose. Please refer to <br> your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) specifications page for information about the specific fees you <br> will pay each year based on the options you have elected.  | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | **Annual Fee** | **Minimum** | **Maximum** | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | Base [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) (as a percentage of <br> daily net assets in the [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614)s)<br>| 0% | 1.25% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) Company fees and <br> expenses (Expenses that you pay as <br> a percentage of your investment. <br> Expenses may be higher or lower in <br> future years. More detail is contained <br> in the prospectus for each [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614))<br>| 0.22% | 1.52% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | **Optional benefits available for an** <br> **additional charge (as a percentage** <br> **of average** [**Contract**](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) **value)**<br>| **Minimum** | **Maximum** | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | Maximum Anniversary Death Benefit <br> (MADB)<br>| 0% | 0.10% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | Premium Accumulation Death Benefit <br> (PADB) <br>| 0% | 0.25% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | Earnings Addition Death Benefit <br> (EADB) <br>| 0% | 0.20% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | MADB and PADB | 0% | 0.30% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | MADB and EADB | 0% | 0.25% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | PADB and EADB | 0% | 0.40% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | MADB and PADB and EADB | 0% | 0.45% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | Return Protection Allocation (RPA) as <br> a percentage of assets in the RPA <br> Subaccounts<br>| 0% | 0.75% | Fee Table |
| &nbsp;&nbsp; Are There Ongoing <br> Fees and <br> Expenses? | MADB and RPA | 0% | 0.85% | Fee Table |

---

**9**

------

---

| | | | |
|:---|:---|:---|:---|
|  | Because your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. The estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges and** <br> **negative Contract Adjustments that substantially increase costs.**  | Because your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9), <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. The estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges and** <br> **negative Contract Adjustments that substantially increase costs.**  |  |
|  | **Lowest Annual Cost: $1,253** | **Highest Annual Cost: $3,318** |  |
|  | Assumes: | Assumes: |  |
|  | Investment of $100,000 | Investment of $100,000 |  |
|  | 5% annual appreciation  | 5% annual appreciation  |  |
|  | Least expensive [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) fees and <br> expenses.<br>| Most expensive [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) fees and <br> expenses |  |
|  | No optional benefits  | All 3 optional death benefits: MADB, <br> EADB and PADB  |  |
|  | No sales charges  | No sales charges |  |
|  | No additional purchase payments, <br> transfers or withdrawals <br>| No additional purchase payments, <br> transfers or withdrawals |  |
| **RISKS** | **RISKS** | **RISKS** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; Is There a Risk of <br> Loss from Poor <br> Performance?<br>| **Yes.** You can lose money investing in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). | **Yes.** You can lose money investing in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). | Principal Risks of <br> Investing in the <br> Contract<br>|
| &nbsp;&nbsp; Is This a <br> Short-Term <br> Investment?<br>| **No.** The [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is not a short-term investment and is not appropriate for you <br> if you need ready access to cash. Amounts withdrawn from the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) may <br> result in taxes and tax penalties. Amounts withdrawn from a Fixed Period <br> Allocation more than 30 days before the end of an allocation period may <br> result in a negative [Market Value Adjustment](#mva_655d4b31-022e-44b2-ba39-9acecf30136b). | **No.** The [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is not a short-term investment and is not appropriate for you <br> if you need ready access to cash. Amounts withdrawn from the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) may <br> result in taxes and tax penalties. Amounts withdrawn from a Fixed Period <br> Allocation more than 30 days before the end of an allocation period may <br> result in a negative [Market Value Adjustment](#mva_655d4b31-022e-44b2-ba39-9acecf30136b). | Principal Risks of <br> Investing in the <br> Contract<br>|
| &nbsp;&nbsp; What Are the Risks <br> Associated with the <br> [Investment](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)<br> Options?<br>| An investment in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is subject to the risk of poor investment <br> performance and can vary depending on the performance of the [Investment](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)<br> Options available under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). Each [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b) (including the <br> [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) and Fixed Period Allocations) will have its own unique risks, <br> and you should review these [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s before making an <br> investment decision. | An investment in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is subject to the risk of poor investment <br> performance and can vary depending on the performance of the [Investment](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)<br> Options available under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). Each [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b) (including the <br> [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) and Fixed Period Allocations) will have its own unique risks, <br> and you should review these [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s before making an <br> investment decision. | Principal Risks of <br> Investing in the <br> Contract<br>|
| &nbsp;&nbsp; What are the Risks <br> Related to the <br> Insurance <br> Company? <br>| An investment in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is subject to the risks related to Thrivent. Any <br> obligations (including those under the Fixed Account and Fixed Period <br> Allocations), guarantees or benefits are subject to the claims-paying ability of <br> Thrivent. More information about Thrivent, including its financial strength <br> ratings are available upon request by calling (800) 847-4836 or by sending an <br> email to mail@thrivent.com. | An investment in the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is subject to the risks related to Thrivent. Any <br> obligations (including those under the Fixed Account and Fixed Period <br> Allocations), guarantees or benefits are subject to the claims-paying ability of <br> Thrivent. More information about Thrivent, including its financial strength <br> ratings are available upon request by calling (800) 847-4836 or by sending an <br> email to mail@thrivent.com. | Principal Risks of <br> Investing in the <br> Contract<br>|
| **RESTRICTIONS** | **RESTRICTIONS** | **RESTRICTIONS** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; Are There <br> Restrictions on the <br> [Investment](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)<br> Options? <br>| **Yes.** We reserve the right to add, remove or substitute [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s.<br> The amount transferred from the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) in any [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) Year may not <br> exceed the greater of $500 or 25% of the [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) in the [Fixed](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f)<br> Account.<br> Premium amounts of $1 million or greater require prior approval. We reserve <br> the right to limit the total of all premiums paid under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) to $1 million. <br> Additional premiums must be at least $50. | **Yes.** We reserve the right to add, remove or substitute [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s.<br> The amount transferred from the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) in any [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) Year may not <br> exceed the greater of $500 or 25% of the [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) in the [Fixed](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f)<br> Account.<br> Premium amounts of $1 million or greater require prior approval. We reserve <br> the right to limit the total of all premiums paid under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) to $1 million. <br> Additional premiums must be at least $50. | Purchases and <br> Contract Value – <br> Fixed Account<br>|

---

**10**

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; Are There Any <br> Restrictions on <br> Contract Benefits? <br>| **Yes.** Optional death benefits could only be added at the time the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9)<br> was issued. The optional benefit value is decreased by the same proportion <br> as the [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605) is decreased by a partial surrender. This may <br> reduce the benefit value by an amount greater than the value withdrawn or <br> could terminate the benefit. | Benefits Available <br> Under the Contract<br>|
| **TAXES** | **TAXES** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; Taxes – What are <br> the Contract's Tax <br> Implications?<br>| You should consult with a tax professional to determine the tax implications of <br> an investment in and withdrawals or benefits received under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). <br> There is no additional tax benefit if the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) is purchased through a <br> tax-qualified plan or individual retirement account (IRA). Withdrawals may be <br> subject to ordinary income tax and may be subject to a 10% federal tax <br> penalty, if under age 59 <sup>1</sup>∕2 and no exception applies. | Taxes |
| **CONFLICTS OF INTEREST** | **CONFLICTS OF INTEREST** | **Location in**<br> **Statutory** <br> **Prospectus**<br>|
| &nbsp;&nbsp; How are <br> Investment <br> Professionals <br> Compensated? <br>| The financial advisor or professional will receive compensation whenever you <br> submit additional premiums. In addition, they may receive trailing <br> compensation based on the Contract's [Accumulated Value](#accumulatedvalue_b9132f5b-1ce7-477c-9619-0804c996f605). <br> Financial advisors or professionals may have an incentive to offer or <br> recommend the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) over another investment. They may also have an <br> incentive to recommend you move to a new product. | Distribution of the <br> Contracts<br>|
| &nbsp;&nbsp; Should I Exchange <br> My Contract? <br>| Some financial advisors or professionals may have a financial incentive to <br> offer you a new contract in place of the one you already own. You should only <br> exchange your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) if you determine, after comparing the features, fees, <br> and risks of both contracts, and any fees or penalties to terminate the existing <br> contract, that it is preferable for you to purchase the new [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) rather than <br> continue to own the existing contract. | Taxes-Exchanges <br> of Annuity <br> Contracts<br>|

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**11**

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Appendix: Investment Options Available Under the Contract

**(a) Variable Options Available Under the Contract**

The following is a list of [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) Companies that correspond to [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0)s available under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). More information about the [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) Companies is available in the prospectuses for the [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614)s, which may be amended from time to time and can be found online at dfinview.com/Thrivent/FlexDefVA. 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 [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) Companies, but does not reflect the other fees and expenses that your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) may charge. Expenses would be higher and performance would be lower if these charges were included. Each [Portfolio](#portfolio_ad6860f9-e2af-4ba3-a270-c6d913a11614) Company's past performance is not necessarily an indication of future performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &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>|

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**12**

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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; Moderate <br> Allocation<br>| **Thrivent Moderate Allocation Portfolio** | 0.70%<sup>1</sup> <br>| 13.63% | 7.13% | 8.38% |
| &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.

**With the Guaranteed Lifetime Withdrawal Benefit Rider, you are limited in your** [**Investment Option**](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)**s based on the timing of your Contract purchase.** 

For GLWB Riders added on or after July 24, 2014, you must allocate all of your Accumulated Value to the following [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b):

♦

Thrivent Moderately Conservative Allocation [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0).

For GLWB Riders added on or after January 16, 2014, and on or before July 23, 2014, you must allocate all of your Accumulated Value to only **one** of the following [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s:

♦

Thrivent Moderate Allocation [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0) (as long as you have elected to have premium allocated to this [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0)on or before July 23, 2014, and do not transfer the Accumulated Value out of that [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0)); or

♦

Thrivent Moderately Conservative Allocation [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0).

If the GLWB Rider was added on or before January 15, 2014, you must allocate all of your Accumulated Value to only **one** of the following [Investment Option](#investmentoption_271a2760-6505-4338-aa73-3e104af4d44b)s:

♦

Thrivent Moderately Aggressive Allocation [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0) (as long as you have elected to have premium allocated to this [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0) on or before January 15, 2014, and do not transfer the Accumulated Value out of that [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0)); or

♦

Thrivent Moderate Allocation [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0) (as long as you have elected to have premium allocated to this [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0)on or before July 23, 2014, and do not transfer the Accumulated Value out of that [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0)); or

♦

Thrivent Moderately Conservative Allocation [Subaccount](#subaccount_85b69123-1125-4b29-93e8-65e687eb54a0)

**13**

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

**(b) Fixed Account Investment Option Available Under the Contract**

On or before the [Annuity Date](#annuitydate_13f94bde-d0c7-42f3-9584-8b0e20fe4f7e), you may allocate the premiums paid under the [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) and transfers from the accumulated value in other investment options to the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f). After the [Annuity Date](#annuitydate_13f94bde-d0c7-42f3-9584-8b0e20fe4f7e), you may no longer transfer out of the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f). Any amounts allocated to the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) are invested with our General Account assets. Interest will be credited on premiums allocated to the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) and on amounts transferred to the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f)from the date of allocation or transfer. The interest rate credited for a [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) with an optional death benefit will be 0.25% lower than the interest rate credited for a [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9) without any optional death benefits. The initial interest rate for each such allocation or transfer is guaranteed for 12 months, and subsequent interest rates will not change more frequently than every 12 months. Interest will be compounded daily and will never be less than the Fixed Account Guaranteed Interest Rate shown in your [Contract](#contract_03bad549-a99c-4458-a202-9c8dbf8b3ca9). For the current interest rate, please call our Service Center at 1-800-847-4836. The last-in, first-out accounting method will be used for partial surrenders, transfers, annual administrative charges, and transfer charges. The amount transferred from the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) in any [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c) may not exceed the greater of $500 and 25% of the accumulated value in the [Fixed Account](#fixedaccount_0e6318a1-29f0-4ad5-b12d-bc50cb2ac89f) at the time the first transfer is made in that [Contract Year](#contractyear_de053b8e-2a74-4544-a5db-dd9cfe9cfc5c).

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| | | |
|:---|:---|:---|
| **Name** | **Term** | **Minimum Guaranteed**<br> **Interest Rate**<br>|
| Fixed Account  | Life of the Contract | 1.00% - 3.00% (listed in Contract) |

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**14**

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![](g107230thriventballard.jpg)

![](g107230nppost.jpg)

This updating summary prospectus incorporates by reference the Thrivent Flexible Premium Deferred Variable Annuity prospectus and Statement of Additional Information (SAI), both dated April 30, 2026, as amended and supplemented.

The Statement of Additional Information (SAI) dated April 30, 2026 contains more information about the Contract and the Variable Account. The SAI has been filed with the SEC and is incorporated by reference into the prospectuses. The SAI is available, without charge, upon request. You can view a copy of the SAI online at dfinview.com/Thrivent/FlexDefVA. For a free paper copy of the SAI, to request other information about the Contracts, and to make investor 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 Forms #W-BC-FPVA, W-BB-FPVA (02) and state variations

EDGAR Contract No. C000007338 32037SPRU R4-26

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