How to Read and Verify Your Haven Life Insurance Consolidated Annual Statement

Understanding the purpose of the consolidated annual statement

The consolidated annual statement from Haven Life summarizes the activity of all life‑insurance policies you hold with the company during the reporting year. It combines premium payments, cash‑value changes, policy loans, and any dividends or interest earned into a single document, making it easier to track overall performance.

Key sections you should examine

Every statement follows a similar layout. Locate these headings and verify the figures against your own records.

• Policy Summary – lists each policy number, type (term, whole, universal) and the effective dates.
• Premium Activity – shows premiums paid, scheduled vs. unscheduled, and any refunds.
• Cash‑Value and Account Balance – details current cash value, growth, and any deductions.
• Policy Loans & Withdrawals – records amounts borrowed against cash value and repayments.
• Dividends / Interest – indicates any dividend allocations or interest credited for the period.
• Charges & Fees – outlines administrative fees, surrender charges, or rider costs.

What to verify for accuracy

Cross‑check each line item with your own payment receipts, online account snapshots, or bank statements. Pay particular attention to:

• Premium amounts – ensure no duplicate entries or missing payments.
• Cash‑value growth – compare the reported increase with the interest rate or dividend rate disclosed in your policy illustration.
• Policy loans – confirm that any outstanding balances match your loan statements.

Common discrepancies and how to address them

If numbers don't line up, contact Haven Life's member services promptly. Provide the statement page, your payment proof, and a clear description of the mismatch. Keep a written record of the inquiry, as insurers often need time to investigate and may issue a corrected statement.

Using the statement for tax and financial planning

The consolidated statement can be useful for:

• Preparing year‑end tax filings, especially if you received taxable dividends.
• Assessing whether your policy's cash value meets your long‑term liquidity goals.
• Evaluating the cost‑effectiveness of riders or additional coverage.

Quick reference table