Haven Life Insurance Review (2021)
Haven Life life insurance company, a subsidiary of MassMutual, focuses on term life insurance policies. Our Haven Life review shows that Haven Life has an excellent complaint index score of 0.07. In addition, A.M. Best gives Haven Life a rating of A++, the best score possible. Compare Haven Life life insurance quotes to other companies' to see if it is right for you.
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UPDATED: Sep 7, 2021
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- Haven Life offers term life insurance policies
- Haven Life’s policies are funded by Massachusetts Mutual Life Insurance Company (MassMutual)
- MassMutual has an A.M. Best score of A++
If you’re looking for term life insurance, Haven Life may be worth considering. Keep reading to learn more about affordable Haven Life life insurance policies and what sets Haven Life apart from its competitors.
Before you read more about Haven Life, enter your ZIP code above to see quotes from life insurance companies in your area.
What life insurance products does Haven Life offer?
Haven Life offers life insurance protection in the form of term life policies, annuities, and disability insurance. You can apply for Haven Life insurance online and its policies are backed by either MassMutual or a subsidiary of MassMutual. Haven Life does not offer universal life policies or whole life policies.
Term is a type of life insurance that provides temporary coverage for a specific period of time agreed upon in the policy — usually 10, 20, or 30 years.
Haven Life insurance policies are affordable, starting at policy premiums of $7.87 per month for $100,000 of coverage.
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Life insurance rates are based on a variety of factors, most notably your age, gender, and medical history. Healthy applicants are issued the lowest monthly rates. Keep in mind that the above rates are averages and you will need to request a quote to get an accurate rate for your own Haven Life policy.
Read below to learn more about the specifics of your policy coverage options.
Haven Term is the flagship life insurance policy offered by Haven Life. This policy is available for those 18-65 and offers coverage anywhere from $100,000 to three million dollars.
This makes it a very flexible policy that fits the needs of almost anyone.
Haven Term has an online application and the application process does involve a medical exam. The policy is offered in all states, but the Haven Life Plus rider that is available to add to the policy is not.
Haven Term has level premiums and offers an accelerated death benefit.
Haven Simple is similar to Haven Term, with a few key differences. The first is that Haven Life life insurance rates for the Haven Simple policy will commonly be slightly higher than those of the Haven Term policy.
This is because Haven Simple does 100% approval online; no medical exam is required. While this does increase the rates, it means that you can easily get coverage in minutes.
Another difference is that Haven Simple is only available for those aged 20-55 and does not include the Haven Life Plus rider.
Haven Simple also has a more limited availability than Haven Term. Residents of California, Delaware, South Dakota, North Dakota, and New York are currently unable to apply for this policy.
Haven Life Plus Rider
The Haven Life Plus rider adds a lot of value to the traditional term life insurance policy.
Haven Life partners with a plethora of companies to provide everything from access to online wills, a fitness app featuring thousands of workouts, and an online “safe deposit box” for storing important documents.
Haven Life Disability Insurance
Haven Life has launched a disability insurance option as well. This insurance is designed to help subsidize your income should you ever be injured or ill enough that you can no longer work.
The entire process is digital, including the original application to apply for your benefits, should you ever need them.
According to Haven Life, policies start as low as $27.49 for $3,000 in coverage.
Haven Life Annuities Benefits
The Haven Life AgeUp program is designed to supplement income for those over the age of 90. It’s available starting at as little as $25 per month.
There are no medical exams required, and AgeUp also offers a return of premium option for customers.
Like all products offered by Haven Life, AgeUp can be applied for online in minutes. Unfortunately, this annuity is currently not available in California, Florida, or New York.
There is an accelerated death benefit rider included with the Haven Term and Haven Simple policies.
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Does Haven Life have a good reputation?
Haven Life is a young company founded only 14 years ago. Haven Life’s founder aimed to streamline the process of shopping for life insurance.
Given the overall positive reputation that Haven Life has maintained, it would seem that he succeeded.
Haven Life insurance has a good reputation with customers, independent rating agencies, employees. In fact, the Haven Life Glassdoor page shows a score of 4.5. Haven Life careers receive consistently good reviews from past employees.
Customers also have good things to say. In part because Haven Life has partnered with MassMutual. MassMutual has an excellent reputation as one of the oldest life insurance companies.
An average score is one, which means that MassMutual receives very few complaints overall.
While Haven Life was not rated in J.D. Power’s most recent life insurance study, its parent company MassMutual received three stars for customer satisfaction.
In addition to this, MassMutual has an A.M. Best score of A++. This is the highest score currently offered by A.M. Best.
Haven Life: What’s the bottom line?
Haven Life life insurance quotes are affordable, and the company model of online care has made it an accessible option for a wide range of individuals. Its customer satisfaction ratings are very positive.
Haven Life is likely to have an affordable term life insurance policy that meets your needs regardless of age or price point.
However, if you’re looking for permanent life insurance, Haven Life is not the company for you. At this point in time, Haven Life is focusing exclusively on term life insurance, annuities, and disability insurance.
Before you buy Haven Life life insurance, enter your ZIP code below to pull up free life insurance quotes from the best life insurers near you.