The Thrivent Choice team announces some changes in the Choice Dollars Program. The maximum amount of Choice Dollars designated to individual members per year will increase from $500 to $2500.
The following increase will be made to the formula for designing Choice Dollars to eligible members based on product ownership:
- $4 per $100 of annual premium on qualifying insurance products will be designated monthly to eligible members based upon the premium payments they made in the prior month (up from $2 in 2010)
- $2 per $1,000 of contract value of qualifying products will be designated on a quarterly basis with 25% of this amount designated each quarter based upon the actual contract value at the end of the quarter (up from 90 cents in 2010)
Eligible members will receive letters throughout the year informing them of the estimated Choice Dollars available for them to direct in 2016.