Form 497VPU THRIVENT VARIABLE ANNUIT

April 29, 2026 1:58 PM EDT
 
 
Thrivent AdvisorFlex Variable AnnuityTM
 
Thrivent Variable Annuity Account I
 
Updating Summary Prospectus
April 30, 2026
This updating summary prospectus summarizes key features of the Thrivent AdvisorFlex Variable Annuity Contract (the “Contract”) offered by Thrivent Financial for Lutherans (“Thrivent,” “we,” “us” or “our”), a fraternal benefit society organized under Wisconsin law.
The Contract is a complex investment and involves risks, including potential loss of principal. The Contract 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, taxes, and tax penalties.
Thrivent’s obligations under the Contract are subject to its financial strength and claims-paying ability.
The statutory prospectus for the Contract contains more information about the Contract, including its features, benefits and risks. You can find the current statutory prospectus and other information about the Contract is available online at dfinview.com/Thrivent/AdvisorFlex. You can also request paper copies at no cost by calling 1-800-847-4836, or by sending an email request to [email protected].
If you elect to have the investment advisor fee deducted from the Contract , this deduction may reduce the death benefit or the optional death benefit (if elected) and may be subject to federal and state income taxes and a 10% federal tax penalty. Pursuant to guidance provided by the Internal Revenue Service in a series of Private Letter Rulings, we will only permit the automatic deduction of investment advisor fees from the Contract to be directly paid to the registered investment advisor, if certain requirements are met.  If the requirements are met through you completing our form in good order, we will not treat the deduction of fees as taxable distributions.
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.
Special Terms 
The sum of the values for your Contract in Subaccounts and the Fixed Account.
Age
The Annuitant’s Issue Age increased by one on each Contract Anniversary.
A date when annuity income payments begin.
The flexible premium deferred variable annuity contract offered by Thrivent Financial
and described in this prospectus.
The period from one Contract Anniversary to the next. The first Contract Year will be
the period beginning on the Date of Issue and ending on the first Contract Anniversary.
An investment allocation option that credits an interest rate. The Fixed Account is part
of our General Account. The Fixed Account is not a Subaccount. For the current
interest rate, please call our Service Center at 1-800-847-4836.
A Variable Option or the Fixed Account available in this Contract.
Owner, you, your, yours
The owner of this contract.
Each Subaccount invests exclusively in the shares of a corresponding Portfolio of the
Fund.
A retirement plan that receives favorable tax treatment under Section 408, 408A or
similar provisions of the Internal Revenue Code.
Service Center
Thrivent Financial for Lutherans, 4321 North Ballard Road, Appleton, Wisconsin
54919-0001, telephone, 1-800-847-4836, or such other office as we may specify in a
notice to the Contract Owner.
A subdivision of the Variable Account. Each Subaccount invests exclusively in the
shares of a corresponding Portfolio.
A charge that applies to withdrawals that have not met the waiting period. Each
premium payment has its own 3-year Surrender Charge period.
An Investment Option under the Contract of which the value of the contract during the
accumulation phase varies according to the investment experience of a Subaccount.
 
3
Updated Information About Your Contract
The information in this updating summary prospectus is a summary of certain Contract 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. 
Content
Description of Changes
Important Information You Should
Consider About the Contract
The Annual Portfolio expenses table was updated to reflect the new range.
The lowest and highest annual cost examples have been revised to reflect
the new range.
Fee Table
The Fee Table has been updated with the new range of Portfolio Expenses.
Other Changes
The Appendix has been revised to reflect the updated performance
information and the current expenses for the Portfolios.
The DFA VA International Small Portfolio has been renamed the
Dimensional VA International Small Portfolio.
The DFA VA US Targeted Value Portfolio has been renamed the
Dimensional VA US Targeted Value Portfolio.
The MFS® VIT II International Intrinsic Value Portfolio has been renamed
the MFS® VIT II International Intrinsic Equity Portfolio.
The Vanguard® VIF Capital Growth Portfolio will be renamed the
Vanguard® VIF PRIMECAP Portfolio on or about May 12, 2026.
Important Information You Should Consider About the Contract  
FEES AND EXPENSES
Location in
Statutory
Prospectus
Are There Charges
or Adjustments for
Early Withdrawals?
Yes. If you withdraw money from the Contract within 3 years of your last
premium payment, you may be assessed a Surrender Charge. The maximum
Surrender Charge is 2% during the first year after a premium payment and is
1% in years two and three. If you make an early withdrawal, you could pay a
Surrender Charge of up to $2,000 on a $100,000 investment.
You may surrender a free amount each Contract Year. In the first Contract
Year, the amount is 10% of the Accumulated Value existing at the time the
first surrender is made in that Contract Year. In subsequent years, the amount
is 10% of the Accumulated Value existing at the start of that Contract Year.
Fee Table
Are There
Transaction
Charges?
Yes. In addition to Surrender Charges , there may also be charges for other
transactions.
You may make 24 free Subaccount transfers in each Contract Year. On
subsequent Subaccount transfers (other than the Dollar Cost Averaging and
Automatic Asset Rebalancing Programs), you will incur a $25 transfer charge.
You will also pay a charge if you request a wire transfer of funds from your
Contract to another financial institution. That financial institution may also
charge a fee to receive a wire. You will also pay a charge if you request to
have a check sent to you using an overnight mail service.
Fee Table
 
4
Are There Ongoing
Fees and
Expenses?
Yes. The table below describes the fees and expenses that you may pay
each year, depending on the investment options you choose. Please refer to
your Contract specifications page for information about the specific fees you
will pay each year based on the options you have elected. The fees and
expenses do not reflect any investment advisor fees paid from the Contract or
from other assets of the Contract Owner. If the investment advisor fees were
reflected, the fees and expenses would be higher.
Fee Table
Annual Fee
Minimum
Maximum
Base Contract (as a percentage of
daily net assets of each Portfolio)
0%
0.50%
Portfolio Company fees and
expenses (With Fund Facilitation Fee
added. Expenses that you pay as a
percentage of your investment.
Expenses may be higher or lower in
future years. More detail is contained
in the prospectus for each Portfolio )
0.22%
2.675%
Fund Facilitation Fees
Minimum
Maximum
These fees may be charged to make
certain external Portfolios available
as investment options under the
Contract (as a percentage of daily
net assets in the specified Portfolios )
0%
0.40%
Optional benefit available for an
additional charge (if elected)
Minimum
Maximum
Maximum Anniversary Death Benefit
(MADB) Rider Charge (as a
percentage of the MADB value)
0%
0.40%
Because your Contract is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your Contract,
the following table shows the lowest and highest cost you could pay each
year, based on current charges. This estimate assumes that you do not take
withdrawals from the Contract, which could add Surrender Charges that
substantially increase costs.
 
Lowest Annual Cost: $634
Highest Annual Cost: $3,255
 
Assumes:
Assumes:
Investment of $100,000
Investment of $100,000
5% annual appreciation
5% annual appreciation
Least expensive Portfolio fees
Most expensive combination of
optional benefits, Portfolio fees and
expenses including a 0.35% fund
facilitation fee.
No optional benefits
Maximum Anniversary Death Benefit
(MADB) Rider 0.20%
No sales charges or investment
advisor fees. Investment advisor fees
are in addition to the Contract
charges illustrated here.
No sales charges or investment
advisor fees. Investment advisor fees
are in addition to the Contract charges
illustrated here.
No additional premium payments,
transfers or withdrawals
No additional premium payments,
transfers or withdrawals
 
5
RISKS
Location in
Statutory
Prospectus
Is There a Risk of
Loss from Poor
Performance?
Yes. You can lose money investing in the Contract.
Principal Risks of
Investing in the
Contract
Is This a
Short-Term
Investment?
No. The Contract is not a short-term investment and is not appropriate for you
if you need ready access to cash. Each premium payment has a separate
3-year Surrender Charge that may decrease the surrender value.
Amounts withdrawn from the Contract may result in surrender charges, taxes,
and tax penalties.
Principal Risks of
Investing in the
Contract
What Are the Risks
Associated with the
Investment
Options?
An investment in the Contract is subject to the risk of poor investment
performance and can vary depending on the performance of the Investment
Options available under the Contract. Each Investment Option (including the
Fixed Account) will have its own unique risks, and you should review these
investment options before making an investment decision.
Principal Risks of
Investing in the
Contract
What are the Risks
Related to the
Insurance
Company?
An investment in the Contract is subject to the risks related to Thrivent. Any
obligations (including those under the Fixed Account), guarantees or benefits
are subject to the claims-paying ability of Thrivent. More information about
Thrivent, including its financial strength ratings are available upon request
bycalling 1-800-847-4836 or by sending an email to [email protected].
Principal Risks of
Investing in the
Contract
RESTRICTIONS
Location in
Statutory
Prospectus
Are There Limits
on the Investment
Options?
Yes. We reserve the right to add, delete, combine or substitute investment
options.
The total amount transferred from a Subaccount or the Fixed Account must
be at least $200. However, if the total value in a Subaccount or the Fixed
Account is less than $200, the entire amount may be transferred.
The amount transferred from the Fixed Account in any Contract Year may not
exceed the greater of $10,000 or 50% of the Accumulated Value in the Fixed
Account, excluding any Accumulated Value in the DCA Fixed Account, at the
time the first transfer is made in that Contract Year.
Purchases and
Contract Value –
Are There Any
Restrictions on
Contract Benefits?
Yes. You may only select the Maximum Anniversary Death Benefit (MADB)
Rider at the time of Contract application for an additional charge.
The MADB is decreased by the same proportion as the Accumulated Value
was decreased by a partial surrender. This may reduce the rider value by an
amount greater than the value withdrawn or could terminate the benefit.
Premium amounts of $1 million or greater will require prior approval, and we
reserve the right to limit the total amount of all premiums paid on the Contract
to $1 million
If you elect to pay the investment advisor fee from the Accumulated Value of
the Contract, this deduction will reduce the value of the death benefit and
optional death benefit (if elected), and may be subject to federal and state
income taxes and a 10% federal penalty tax. See Charges – Investment
Advisor Fees in the statutory prospectus for additional information.
Benefits Available
Under the Contract
 
6
TAXES
Location in
Statutory
Prospectus
Taxes – What are
the Contract’s Tax
Implications?
You should consult with a tax professional to determine the tax implications of
an investment in and withdrawals or benefits received under the Contract.
There is no additional tax benefit if the Contract is purchased through a
tax-qualified plan or individual retirement account (IRA). Withdrawals may be
subject to ordinary income tax and may be subject to a 10% federal tax
penalty, if under age 59 1∕2 and no exception applies.
Taxes
CONFLICTS OF INTEREST
Location in
Statutory
Prospectus
How are
Investment
Professionals
Compensated?
Financial advisors receive compensation for selling the Contracts. Pursuant to
guidance provided by the Internal Revenue Service in a series of Private
Letter Rulings, we will only permit the automatic deduction of investment
advisor fees from the Contract to be directly paid to the registered investment
advisor, if certain requirements are met. If the requirements are met through
you completing our form in good order, we will not treat the deduction of fees
as taxable distributions.
Financial advisors may have a financial incentive to offer or recommend the
Contract over another investment.
Distribution of the
Contracts
Should I Exchange
My Contract?
Financial advisors may have a financial incentive to offer you a new contract
in place of the one you already own. You should only exchange your contract
if you determine, after comparing the features, fees, and risks of both
contracts, and any fees or penalties to terminate the existing contract, that it
is preferable for you to purchase the new Contract rather than continue to
own the existing contract.
Taxes –
Exchanges of
Annuity
Contracts
 
7
Appendix: Investment Options Available Under the Contract
(a) Variable Options Available Under the Contract
The following is a list of Portfolios that correspond to the Subaccounts available under the Contract. More information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at dfinview.com/Thrivent/AdvisorFlex. You can also request this information in paper at no cost by calling (800) 847-4836 or by sending an email request to [email protected].
The current expenses and performance information below reflects fees and expenses of the Portfolios but does not reflect the other fees and expenses (including fund facilitation fees) that your Contract may charge. Expenses would be higher and performance would be lower if these charges were included. The current fund facilitation fee and current expenses plus the fund facilitation fee are shown in separate columns. Each Portfolio’s past performance is not necessarily an indication of future performance. 
INVESTMENT
TYPE
PORTFOLIO COMPANY; ADVISER
(SUBADVISER)
CURRENT
EXPENSES
CURRENT
FUND
FACILITATION
FEE1
CURRENT
EXPENSES
PLUS FUND
FACILITATION
FEE
AVERAGE ANNUAL TOTAL
RETURNS
(as of 12/31/25)
1 YEAR
5 YEAR
10 YEAR
Global
Large-Stock
Growth
American Funds IS® Global Growth
Portfolio - Class 1; Capital Research
and Management Company
0.40%2
0.35%
0.75%
21.98%
8.51%
12.46%
Large Blend
American Funds IS®
Growth-Income Portfolio - Class 1;
Capital Research and Management
Company
0.28%
0.35%
0.63%
18.37%
14.19%
14.20%
Foreign Large
Growth
American Funds IS® International
Portfolio - Class 1; Capital Research
and Management Company
0.47%2
0.35%
0.82%
27.04%
3.66%
7.26%
Intermediate
Core-Plus
Bond
BlackRock Total Return V.I.
Portfolio - Class I; BlackRock
Advisors, LLC
0.43%2
0.35%
0.78%
8.00%
-0.37%
2.18%
Foreign
Small/Mid
Blend
Dimensonal VA International Small
Portfolio5 - Institutional Class;
Dimensional Fund Advisors LP
0.39%
0.35%
0.74%
36.99%
8.89%
8.68%
Small Value
Dimensional VA U.S. Targeted
Value Portfolio6 - Institutional
Class; Dimensional Fund Advisors LP
0.29%
0.35%
0.64%
8.95%
13.60%
11.00%
Diversified
Emerging
Mkts
Fidelity® VIP Emerging Markets
Portfolio - Initial Class; Fidelity
Management and Research
Company LLC
0.87%
0.20%
1.07%
41.20%
5.88%
10.93%
Foreign Large
Growth
Fidelity® VIP International Capital
Appreciation Portfolio - Initial
Class; Fidelity Management and
Research Company LLC
0.78%
0.20%
0.98%
18.69%
6.26%
9.81%
Mid-Cap
Value
Fidelity® VIP Value Portfolio - Initial
Class; Fidelity Management and
Research Company LLC
0.60%
0.20%
0.80%
11.23%
13.10%
11.24%
Mid-Cap
Growth
Janus Henderson Enterprise
Portfolio - Institutional Class; Janus
Henderson Investors, US LLC
0.72%
0.20%
0.92%
7.67%
7.62%
12.79%
 
8
INVESTMENT
TYPE
PORTFOLIO COMPANY; ADVISER
(SUBADVISER)
CURRENT
EXPENSES
CURRENT
FUND
FACILITATION
FEE1
CURRENT
EXPENSES
PLUS FUND
FACILITATION
FEE
AVERAGE ANNUAL TOTAL
RETURNS
(as of 12/31/25)
1 YEAR
5 YEAR
10 YEAR
Intermediate
Core Bond
John Hancock Core Bond Trust
Portfolio - Series NAV; John
Hancock Variable Trust Advisers LLC
(Allspring Global Investments, LLC)
0.62%2
0.10%
0.72%
7.03%
-0.52%
1.96%
Foreign Large
Blend
John Hancock International Equity
Index Trust Portfolio - Series NAV;
John Hancock Variable Trust
Advisers LLC (SSGA Funds
Management, Inc.)
0.34%2
0.10%
0.44%
32.57%
7.68%
8.33%
Multisector
Bond
John Hancock Strategic Income
Opportunities Trust Portfolio -
Series NAV; John Hancock Variable
Trust Advisers LLC (Manulife
Investment Management (US) LLC
0.74%2
0.10%
0.84%
7.51%
1.61%
3.26%
Large Blend
MFS® VIT II Blended Research
Core Equity Portfolio - Initial Class
0.30%2
0.10%
0.40%
16.10%
15.30%
13.88%
Corporate
Bond
MFS® VIT II Corporate Bond
Portfolio - Initial Class
0.63%2
0.10%
0.73%
7.56%
-0.06%
3.32%
Foreign Large
Blend
MFS® VIT II International Intrinsic
Equity Portfolio7 - Initial Class
0.89%2
0.10%
0.99%
33.26%
7.28%
9.95%
Technology
MFS® VIT II Technology Portfolio -
Initial Class
0.82%2
0.10%
0.92%
16.57%
12.45%
18.64%
Global Real
Estate
MFS® VIT III Global Real Estate
Portfolio - Initial Class
0.90%2
0.10%
1.00%
3.53%
1.32%
5.01%
Mid-Cap
Value
MFS® VIT III Mid Cap Value
Portfolio - Initial Class
0.79%2
0.10%
0.89%
5.98%
10.18%
9.95%
Large Value
MFS® VIT Value Series Portfolio -
Initial Class
0.69%2
0.10%
0.79%
13.01%
9.95%
10.05%
Global Bond
PIMCO VIT Global Bond
Opportunities (Unhedged) -
Institutional Class
1.00%
0.35%
1.35%
13.04%
0.32%
2.62%
Emerging
Markets Bond
PIMCO VIT Emerging Markets Bond
Portfolio - Institutional Class
1.02%
0.35%
1.37%
15.15%
2.60%
5.22%
Long
Government
PIMCO VIT Long-Term US
Government Portfolio - Institutional
Class
2.325%
0.35%
2.675%
6.31%
-6.68%
0.16%
Inflation-
Protected
Bond
PIMCO VIT Real Return Portfolio -
Institutional Class
1.24%
0.35%
1.59%
8.01%
1.36%
3.37%
Foreign Large
Blend
Principal Diversified International
Portfolio - Class 1; Principal Global
Investors, LLC
0.86%
0.35%
1.21%
32.36%
7.40%
8.08%
Intermediate
Government
Principal Government & High
Quality Bond Portfolio - Class 1;
Principal Global Investors, LLC
0.50%
0.35%
0.85%
7.91%
-0.23%
1.26%
Small Blend
Principal SmallCap Portfolio -
Class 1; Principal Global Investors,
LLC
0.84%
0.35%
1.19%
15.10%
6.29%
9.57%
Global Bond
Templeton Global Bond VIP
Portfolio - Class 1; Franklin
Advisers, Inc.
0.50%2
0.20%
0.70%
16.09%
-0.69%
0.11%
 
9
INVESTMENT
TYPE
PORTFOLIO COMPANY; ADVISER
(SUBADVISER)
CURRENT
EXPENSES
CURRENT
FUND
FACILITATION
FEE1
CURRENT
EXPENSES
PLUS FUND
FACILITATION
FEE
AVERAGE ANNUAL TOTAL
RETURNS
(as of 12/31/25)
1 YEAR
5 YEAR
10 YEAR
Large Blend
Thrivent All Cap Portfolio
0.66%
N/A
0.66%
18.05%
11.90%
12.43%
Conservative
Allocation
Thrivent Conservative Allocation
Portfolio
0.50%
N/A
0.50%
10.17%
4.03%
5.42%
Moderately
Conservative
Allocation
Thrivent Dynamic Allocation
Portfolio
0.68%
N/A
0.68%
12.62%
5.92%
6.84%
Diversified
Emerging
Mkts
Thrivent Emerging Markets Equity
Portfolio
1.15%2
N/A
1.15%
32.20%
2.10%
7.47%
Large Blend
Thrivent ESG Index Portfolio
0.36%2
N/A
0.36%
17.78%
13.56%
N/A4
Global
Large-Stock
Blend
Thrivent Global Stock Portfolio
0.60%
N/A
0.60%
20.82%
10.69%
10.67%
Health
Thrivent Healthcare Portfolio
0.92%
N/A
0.92%
13.07%
4.62%
7.37%
High Yield
Bond
Thrivent High Yield Portfolio
0.45%
N/A
0.45%
8.78%
4.06%
5.32%
Corporate
Bond
Thrivent Income Portfolio
0.44%
N/A
0.44%
7.93%
0.38%
3.60%
Foreign Large
Blend
Thrivent International Equity
Portfolio
0.72%
N/A
0.72%
30.87%
8.54%
7.41%
Foreign Large
Blend
Thrivent International Index
Portfolio
0.37%
N/A
0.37%
31.15%
8.61%
N/A4
Large Growth
Thrivent Large Cap Growth
Portfolio
0.43%
N/A
0.43%
16.95%
12.89%
16.35%
Large Blend
Thrivent Large Cap Index Portfolio
0.22%
N/A
0.22%
17.62%
14.17%
14.54%
Large Value
Thrivent Large Cap Value Portfolio
0.62%
N/A
0.62%
19.65%
13.96%
12.16%
Mid-Cap
Growth
Thrivent Mid Cap Growth Portfolio
0.89%2
N/A
0.89%
2.50%
1.10%
N/A4
Mid-Cap
Blend
Thrivent Mid Cap Index Portfolio
0.25%
N/A
0.25%
7.23%
8.86%
10.46%
Mid-Cap
Blend
Thrivent Mid Cap Stock Portfolio
0.66%
N/A
0.66%
4.73%
6.86%
11.30%
Mid-Cap
Value
Thrivent Mid Cap Value Portfolio
0.87%2
N/A
0.87%
10.82%
11.31%
N/A4
Money
Market -
Taxable
Thrivent Money Market Portfolio
0.31%
N/A
0.31%
4.06%
3.05%
1.93%
Multisector
Bond
Thrivent Multisector Bond Portfolio
0.74%
N/A
0.74%
7.93%
2.43%
3.47%
Real Estate
Thrivent Real Estate Securities
Portfolio
0.90%
N/A
0.90%
0.67%
3.89%
4.68%
Short-Term
Bond
Thrivent Short-Term Bond Portfolio
0.45%
N/A
0.45%
6.06%
2.75%
2.89%
Small Growth
Thrivent Small Cap Growth
Portfolio
0.94%2
N/A
0.94%
1.87%
1.37%
N/A3
Small Blend
Thrivent Small Cap Index Portfolio
0.24%
N/A
0.24%
5.80%
7.06%
9.57%
Small Blend
Thrivent Small Cap Stock Portfolio
0.70%
N/A
0.70%
2.45%
7.50%
11.93%
Large Blend
Vanguard® VIF PRIMECAP
Portfolio8; PRIMECAP Management
Company
0.34%
0.35%
0.69%
28.98%
13.97%
14.96%
 
10
INVESTMENT
TYPE
PORTFOLIO COMPANY; ADVISER
(SUBADVISER)
CURRENT
EXPENSES
CURRENT
FUND
FACILITATION
FEE1
CURRENT
EXPENSES
PLUS FUND
FACILITATION
FEE
AVERAGE ANNUAL TOTAL
RETURNS
(as of 12/31/25)
1 YEAR
5 YEAR
10 YEAR
Foreign Large
Growth
Vanguard® VIF International
Portfolio; Baillie Gifford Overseas
Ltd. and Schroeder Investment
Management North America Inc.
0.32%
0.35%
0.67%
19.97%
0.62%
10.48%
Short-Term
Bond
Vanguard® VIF Short-Term
Investment-Grade Portfolio; The
Vanguard Group, Inc.
0.14%
0.35%
0.49%
6.85%
2.23%
2.81%
Small Growth
Vanguard® VIF Small Company
Growth Portfolio9; ArrowMark
Colorado Holdings, LLC and The
Vanguard Group, Inc.
0.29%
0.35%
0.64%
6.11%
3.81%
9.61%
Intermediate
Core Bond
Vanguard® VIF Total Bond Market
Index Portfolio; The Vanguard
Group, Inc.
0.14%
0.10%
0.24%
6.94%
-0.51%
1.90%
Large Blend
Vanguard® VIF Total Stock Market
Index Portfolio; The Vanguard
Group, Inc.
0.13%
0.10%
0.23%
16.93%
12.98%
14.10%
1
The maximum Fund Facilitation Fee is 0.40%
2
Current expenses reflect temporary fee reductions.
3
The Fund is not showing Average Annual Total Returns information because the Fund commenced operation on 4/27/2018 and does not have annual returns for the period shown.
4
The Fund is not showing Average Annual Total Returns information because the Fund commenced operation on 4/29/2020 and does not have annual returns for the period shown.
5
Formerly known as DFA VA International Small Portfolio
6
Formerly known as DFA US Targeted Value Portfolio
7
Formerly known as MFS® VIT II International Intrinsic Value Portoflio
8
Formerly known as Vanguard® VIF Capital Growth Portfolio. Name change will become effective on or about May 12, 2026.
9
Contracts with premium allocated to this portfolio as of April 29, 2020 may continue to add premium, as long as you do not transfer
all of the Accumulated Value out of this portfolio. New contracts issued on or after April 30, 2020 may not invest in this portfolio.
(b) Fixed Account Investment Option Available Under the Contract
On or before the Annuity Date, you may allocate the premiums paid under the Contract and transfers from the Accumulated Value in other investment options to the Fixed Account. Any amounts allocated to the Fixed Account are invested with our General Account assets. Interest will be credited on premiums allocated to the Fixed Account and on amounts transferred to the Fixed Account from the date of allocation or transfer. 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. Interest guarantees are subject to Thrivent’s claims-paying ability. 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, and transfer charges.The amount transferred from the Fixed Account in any Contract Year may not exceed the greater of $10,000 or 50% of the Accumulated Value in the Fixed Account, excluding any Accumulated Value in the DCA Fixed Account, at the time the first transfer is made in that Contract Year. 
Name
Term
Minimum Guaranteed
Interest Rate
Fixed Account
Life of the Contract
0.50%
 
11
 
 
This updating summary prospectus incorporates by reference the Thrivent AdvisorFlex 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/AdvisorFlex. 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 [email protected].
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: [email protected].
Thrivent is the marketing name for Thrivent Financial for Lutherans. Insurance products issued by Thrivent. Securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC, and a subsidiary of Thrivent. Licensed agent/producer of Thrivent. Registered representative of Thrivent Investment Management, Inc. Thrivent.com/disclosures.
Insurance products, securities and investment advisory services are provided by appropriately appointed and licensed financial advisors and professionals. Only individuals who are financial advisors are credentialed to provide investment advisory services. Visit Thrivent.com or FINRA’s Broker Check for more information about our financial advisors.
Contract Form #ICC16 W-WR-FPVA and state variations
EDGAR Contract No. C000183973 32094SPRU R4-26

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