What:
Haven Life and Kinly have announced a new partnership to make term life insurance more accessible to Black Americans.
Why:
While Black Americans are more likely to have life insurance than white individuals, Black Americans are substantially underinsured. White individuals reported a median of $150,000 in life insurance coverage versus just $50,000 for Black Americans.
How:
- Through this partnership, Haven Term and Haven Simple term life insurance products will be available on the Kinly mobile application for its members.
- Kinly members can apply for Haven Term and Haven Simple and, if approved, get coverage instantly.
- Haven Term offers up to $3 million in coverage for terms of 5, 15, 20, 25, and 30 years.
- Haven Simple offers up to $500,000 in coverage for terms of 5, 10, or 15 years.