AMENDATORY AGREEMENT FOR GUIDELINE PREMIUM TESTAmendatory Agreement • May 1st, 2020 • Thrivent Variable Life Account I
Cumulative Premium Limit. The Internal Revenue Code provides for favorable tax treatment with regard to increases in Accumulated Value and exclusion of the Death Proceeds from gross income. To qualify for the favorable tax treatment, total premium payments must not exceed the limit described in the Code. To comply with these requirements, we may refuse to accept premiums and may refund any premiums, earnings on premiums, or accumulated value. Any refund made under this provision will not be treated as a Partial Surrender under Section 9.3. In addition, any transaction that would result in this contract not complying with Internal Revenue Code requirements will not be permitted.
