Its streamlined online experience, responsive customer service, and low rates make Haven Life an attractive life insurance option.
Haven Life, backed by MassMutual, is a popular life insurance agency for families in the US. If you are looking for term insurance with an online application, Haven Life may be a great option.
We really love how easy Haven Life makes it to apply and buy coverage. In this guide, we will cover everything you need to know about buying term life insurance, how to choose a policy and more.
Haven Life is an insurance agency owned and backed by MassMutual, which has A.M. Best’s highest financial stability rating of A++*. The Haven Term policy is a fully medically underwritten term life insurance policy.
Term life policies help to replace one’s financial contributions in case of death. They are an estate planning tool that can help ensure the care and well-being of your family.
Haven Life is geared toward healthy individuals between the ages of 18 and 64. They offer term life policies for 10, 15, 20, or 30-year terms.
Haven Life also offers InstantTerm, an innovative process that lets some qualified applicants (U.S. citizens up to age 59) finalize coverage without the need for a medical exam. Keep in mind: issuance of the policy or payment of benefits may depend upon the answers given in the application and the truthfulness thereof.
Both U.S. citizens and U.S. residents with valid statuses may apply for a Haven Term policy, however non citizens will be limited to $1 million maximum coverage.
Haven Life offers the Accelerated Death Benefit rider, which pays out a portion of the policy early in case of a diagnosed terminal illness.
They also offer Haven Life Plus, a rider that provides policyholders with access to additional benefits like a digital will and online vault at no additional charge.
The Haven Term policy is available in all 50 states plus Washington D.C., and because it the process is online, you can apply for coverage 24 hours per day, 365 days per year.
Because Haven Life doesn’t pay commissions to agents, the cost of a Haven Term policy is competitive compared to traditional term life insurance offerings.
As an example, according to the Haven Life website, a healthy 35-year-old male can buy $500,000 in coverage with a 20-year term for $21/month.
You can quickly get a free quote at havenlife.com and find out how much your coverage would cost you.
Most Haven Term applicants will have to take a life insurance medical exam. The life insurance medical exam is a standard part of the application process, can be completed by a paramed at your home or work, and typically takes around 20 minutes. In other words, it’s pretty painless.
A life insurance medical exam usually involves:
Some tips for good results are to schedule the appointment early in the morning, avoid coffee, and drink a lot of water beforehand. Fast eight to twelve hours before and don’t do strenuous exercise before the exam. People also want to avoid too much sodium and sugar.
Since so much is riding on this exam, we thought you might want to know what the examiner is looking for.
Haven Life only offers fully medically underwritten term life insurance with terms of 10, 15, 20, or 30 years.
Here are some pros and cons we found when choosing Haven Life.
Haven Life is owned and backed by MassMutual, an A++ A.M. Best rated insurance company. It meets the highest standard for financial outlook and stability.
On Trustpilot.com, a customer review site, Haven Life has 1004 reviews and 96% of customers rated them Excellent or Great. We should note that Haven Life actively collects reviews from customers.
Nevertheless, customers raved about the almost entirely digital experience.
_Haven Life insurance was the best I could have ever gotten. I did my application online and the next day got an email to do my medical exam at ExamOne Lab.They were very quick and always kept in touch with me via email to see how I was doing with the process. Everything was done as soon as I expected and I got the best rate as compared to other life insurance companies.I will recommend this insurance to anyone who need life insurance. Am 34 yrs old bought a $500,000 life policy and pay $34 monthly for 30yrs policy. _- Ethy
For many, particularly the young and healthy, the process was seamless.
Applying for a Haven Term policy is easy.
You might consider the costs of replacing your income after tax, health care of a spouse, outstanding doubts, children’s education and child care, and funeral and other final expenses.
Some customers who are required to take a medical exam might be able to get temporary coverage while they wait.
They will pay a monthly premium on up to $1,000,000 in coverage as if they were approved until they complete their life insurance medical exam. If they are approved, then that monthly premium will be paid toward the first full month of their policy.
If approved for temporary coverage, that individual has 90 days in which to take the medical exam. If they weren’t approved for temporary coverage, than the applicant has up to 30 days to complete their medical exam.
If an application is rejected or canceled, applicants will receive a full refund. You should allow 7-10 business days to receive the refund.
After purchasing a policy, customers have a “free look” period of 10 days (20 days in California) to decide if Haven Term coverage is right for them. If they wish to cancel during this period, the policyholder would receive a full refund.
To report a claim, contact Haven Life customer support at 1-855-744-2836 (M-F 9 am to 6 pm ET).
The beneficiary or someone close to him or her can make the initial call.
They should have the following information on hand:
The claims department will send out relevant claim forms and documents for the beneficiary or beneficiaries to complete and send back.
Insurance companies can review policies within the first two years (24 months) after purchase to make sure all the information is accurate. If a claim is filed within this time, it may be investigated more thoroughly.
Applicants must give correct information about their medical issues, lifestyle and hobbies, occupation, and more when they apply.
Address: 60 Madison Ave, 7th Floor New York, NY 10010 Customer service: 1 (855) 744-2836 Hours: Monday through Friday, 9 am - 6pm EST Email: [email protected] Twitter: @HavenLifeInsure Facebook: www.facebook.com/havenlifeinsurance Live chat: Go to www.havenlife.com and click Livechat at the bottom of the screen.
No, Haven Life only offers fully underwritten term life insurance issued by MassMutual.
Haven Life makes shopping for life insurance practically painless. A streamlined experience, a simple application and friendly customer support without even a hint of pressure or upselling.
Haven Life isn’t for everybody. Anyone older than age 64 or looking for whole life coverage need not apply.
Convenience is a big factor with Haven Life. We love the online account management options — no more waiting on the phone for hours. Customers can change their address or beneficiaries right from their My Account page.
It’s hard to see a downside to this agency if you can get approved. We think Haven Life is off to an excellent start of making even more customers happy.
Haven Life Insurance Agency is owned and backed by MassMutual, a life insurance carrier with over 160 years of industry experience. It has an A.M. Best financial stability rating of A++.
You have a 31-day “grace period” after your due date in which you can make a payment and not incur any charges or loss of coverage.
Yes! You can make changes by logging in to your My Account page. Follow the prompts to make the necessary changes.
It takes most customers about 25 minutes to complete the application. You can use Live Chat or call the customer support team at 1-855-744-2836 if you need assistance.
It usually takes about 7-10 days after your medical exam to receive an offer.
The medical exam results are viewable. Your medical examiner will give you a barcode. Use the barcode to register at www.MyExamOne.com/results. You will be notified by email when the results of the medical exam are ready.
*MassMutual and its subsidiaries C.M. Life Insurance Company and MML Bay State Life Insurance Company are rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of April15, 2019 and is subject to change. MassMutual has received other ratings from different rating agencies.
Haven Life Plus (Plus) is the marketing name for the Plus Rider which is included as part of the Haven Term policy. The rider is not available in every state and is subject to change at any time Neither Haven Life nor MassMutual are responsible for the provision of the benefits and services made accessible under the Plus Rider, which are provided by third party vendors (partners).
Haven Term is a Term Life Insurance Policy (ICC17DTC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111 and offered exclusively through Haven Life Insurance Agency, LLC. Policy and rider form numbers and features may vary by state and may not be available in all states. In NY, Haven Term is DTC-NY 1017. Our Agency license number in California is OK71922 and in Arkansas, 100139527.