Haven Life Insurance Review & Ratings (2024)
Get affordable term life insurance with Haven Life. Compare rates, coverage options, and industry ratings. Apply online for a hassle-free experience.
Travis Thompson
Licensed Insurance Agent
Travis Thompson has been a licensed insurance agent for nearly five years. After obtaining his life and health insurance licenses, he began working for Symmetry Financial Group as a State Licensed Field Underwriter. In this position, he learned the coverage options and limits surrounding mortgage protection. He advised clients on the coverage needed to protect them in the event of a death, critica...
Licensed Insurance Agent
UPDATED: Sep 13, 2024
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Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Sep 13, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Haven Life Insurance
Average Monthly Rate For Good Drivers
N/AA.M. Best Rating:
A+Complaint Level:
LowPros
- Streamlined online application process
- Flexibility in coverage options
- Haven Life Plus program offering additional benefits
- Backed by MassMutual’s financial strength
Cons
- Limited coverage options (primarily focuses on term life insurance)
- No traditional premium discounts mentioned in the article
Haven Life offers only a couple of term life insurance options. Therefore, if you’re looking for permanent life insurance or more customizable options, you’ll have to look elsewhere. If term life insurance meets your needs, you may want to consider Haven Life since it is backed and owned by one of the most experienced companies in the insurance industry, MassMutual.
If you would like to compare life insurance quotes from companies in your area before deciding which company is right for you, enter your ZIP code into our free quote comparison tool below.
What You Should Know About Haven Life
Welcome to our guide on Haven Life Insurance! If you’re in the market for life insurance, you might have heard of Haven Life, an innovative insurance company that offers a simple and fast way to get coverage online. We’ll discuss the benefits of getting life insurance and why it’s important to have a policy that fits your needs.
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What is Haven Life?
Haven Life is wholly owned by MassMutual, a company with over 160 years in the insurance industry. Haven Life was founded in 2014 by Yaron Ben-Zvi, who was searching for life insurance before becoming a father.
During Ben-Zvi’s search, he found that many life insurance companies were making the application process more complicated than necessary by not taking full advantage of technical capabilities.
This is why Haven Life is focused on making applying for life insurance easy and digital.
How can I contact Haven Life?
Haven Life’s website is www.havenlife.com. You can contact Haven Life through the contact form on the company’s website. It also has a live chat. You may also call the Haven Life customer service phone number at (855) 744-2836. Haven Life is located at 60 Madison Avenue, 7th Floor, New York, NY 10010.
How can I get a quote or file a claim?
You can find Haven Life insurance quotes on the company’s website (www.havenlife.com). You should navigate to the page for the product you’re interested in and click the link to the price calculator, where you’ll fill out some information and get quoted a price.
To file a claim, you should call (855) 744-2836 with the policy number, information about the deceased (Social Security number and date of death), and a death certificate. Haven Life will send you the necessary claims forms and instructions to return them.
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Haven Life Insurance Coverage Options
When considering life insurance, having a comprehensive understanding of available coverage options is crucial in securing the right protection for your loved ones. Haven Life Insurance offers a range of tailored coverage plans designed to meet diverse needs.
From flexible term life insurance policies to additional benefits, Haven Life aims to simplify the process, providing peace of mind for you and your family.
- Term Life Insurance: Haven Term is medically underwritten plan available for individuals aged 18 to 65. Terms include 10, 15, 20, and 30 years. Coverage amounts range from $100,000 to $3 million. Requires a medical exam for approval. Includes Haven Life Plus benefits in most states.
- Haven Simple: Simplified term life insurance policy available for individuals aged 20 to 55. Terms are 5, 10, and 15 years. Coverage amounts and approval without a medical exam in most states except CA, DE, SD, ND, and NY.
- Additional Benefits (Haven Life Plus): Offers various benefits such as a will from Trust&Will, a yearly subscription to the fitness app Aaptiv, a LifeSite Plus subscription for storing important family documents, and more.
By providing various term lengths, coverage amounts, and simplified approval processes, Haven Life strives to ensure that individuals find the right insurance solution to safeguard their future. With Haven Life, securing your family’s financial stability becomes more straightforward and tailored to your unique circumstances.
What life insurance products does Haven Life offer?
Haven Life focuses on providing only term life insurance. While this may be too basic for some, it can be a benefit to others.
Term life insurance is a non-permanent life insurance policy that provides death benefits for a specific period. Life insurance companies generally offer term life insurance policies for anywhere from 10 to 30 years. This insurance is sometimes preferred because it has cheaper premiums.
Haven Life offers two different term life insurance plans — Haven Term and Haven Simple — issued by MassMutual or C.M. Life Insurance Company.
Haven Term is a medically underwritten plan, which means that a medical exam will most likely be required. Haven Term life insurance is available for people between 18 and 65. Terms include 10, 15, 20, and 30 years with coverage amounts ranging between $100,000 and $3 million.
Haven Term plans include Haven Life Plus (except in FL, NY, ND, SD, and WA). Haven Life Plus gives access to additional benefits, such as a will from Trust&Will, a yearly subscription to the fitness app Aaptiv, a LifeSite Plus subscription to store important family documents, and more.
Haven Simple is a simplified term life insurance policy, which means a medical exam is not required for approval. It is available in all states except CA, DE, SD, ND, and NY for people between 20 and 55. Terms are 5, 10, and 15 years.
Haven Life Insurance Rates Breakdown
At Haven Life Insurance, understanding the intricacies of insurance rates is key to providing tailored coverage that suits your needs. The company offers competitive rates for its term life insurance policies, taking into account various essential factors.
From age and health status to coverage amounts and lifestyle choices, Haven Life strives to offer transparent and affordable rates, ensuring individuals find the protection they seek.
- Age: Generally, younger individuals tend to receive lower premium rates as they are considered lower risk.
- Health Status: Health plays a significant role in determining rates. Those in good health typically receive better rates.
- Coverage Amount: Higher coverage amounts typically result in higher premiums.
- Term Length: Longer terms may lead to slightly higher premiums.
- Smoking Status: Non-smokers usually receive lower rates compared to smokers.
- Haven Life Plus Membership: Some policyholders may be eligible for additional benefits which could affect pricing.
Navigating life insurance rates can be complex, but Haven Life simplifies the process by offering competitive and personalized premiums. Whether it’s considering age, health, or coverage preferences, Haven Life aims to provide transparent pricing that aligns with your individual circumstances.
With Haven Life Insurance, securing your family’s future is made more accessible and tailored to your specific needs.
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How much is Haven life insurance?
Haven Life insurance rates can be calculated easily on the company’s website. Here are some sample rates the calculator gave us when we filled it out for varying demographics. This profile assumes the individual is in good health, does not smoke, lives in Massachusetts, and needs $250,000 in coverage.
Haven Term Life Insurance Rates by Age and Gender
| Age and Gender | 10-Year Term Monthly Rates | 15-Year Term Monthly Rates | 20-Year Term Monthly Rates | 30-Year Term Monthly Rates |
|---|---|---|---|---|
| 20-Year-Old Female | $11.95 | $13.72 | $15.50 | $20.81 |
| 20-Year-Old Male | $13.47 | $15.50 | $19.32 | $27.18 |
| 30-Year-Old Female | $12.59 | $14.06 | $16.29 | $23.66 |
| 30-Year-Old Male | $13.58 | $15.85 | $19.47 | $28.76 |
| 40-Year-Old Female | $15.48 | $18.62 | $22.44 | $34.79 |
| 40-Year-Old Male | $17.52 | $20.71 | $26.41 | $41.44 |
| 50-Year-Old Female | $29.95 | $35.58 | $45.04 | Not available |
| 50-Year-Old Male | $36.55 | $47.51 | $59.39 | Not available |
| 60-Year-Old Female | $61.04 | $77.38 | $108.92 | Not available |
| 60-Year-Old Male | $87.23 | $120.14 | $155.36 | Not available |
Now, let’s take a look at some sample rates for Haven Simple:
Haven Simple Life Insurance Rates by Age and Gender
| Age and Gender | 5-Year Term Monthly Rates | 10-Year Term Monthly Rates | 15-Year Term Monthly Rates |
|---|---|---|---|
| 20-Year-Old Female | $10.07 | $10.45 | $13.66 |
| 20-Year-Old Male | $15.55 | $15.67 | $20.67 |
| 30-Year-Old Female | $11.33 | $12.00 | $15.05 |
| 30-Year-Old Male | $16.16 | $16.95 | $21.50 |
| 40-Year-Old Female | $17.29 | $19.20 | $24.13 |
| 40-Year-Old Male | $24.44 | $27.37 | $34.39 |
| 50-Year-Old Female | $43.20 | $45.90 | $77.97 |
| 50-Year-Old Male | $62.87 | $66.93 | $115.89 |
You should keep in mind that your life insurance rates could be different based on your specific situation, including your age, gender, health, location, and more.
Haven Life Discounts Available
Haven Life Insurance redefines insurance benefits through its Haven Life Plus program, offering policyholders more than just traditional discounts. While the company doesn’t provide standard premium discounts, it enriches the policyholder experience with a suite of valuable services under the Haven Life Plus membership.
These added benefits aim to enhance the overall value and utility of the life insurance coverage provided by Haven Life.
- Will Creation: Access to a will created by Trust&Will, an online service specializing in creating legally valid wills.
- Fitness App Subscription: A yearly subscription to Aaptiv, a fitness app offering various workout programs.
- Family Document Storage: Subscription to LifeSite Plus for secure storage of important family documents.
- Online Will Services: Offers access to Trust & Will’s online platform to create, update, and maintain legal wills.
While traditional premium discounts might not be part of Haven Life Insurance offerings, the Haven Life Plus program demonstrates the company’s commitment to going beyond conventional insurance benefits.
By providing access to valuable services such as will preparation, fitness subscriptions, and secure document storage, Haven Life aims to enhance the overall experience for policyholders. With Haven Life Insurance, it’s not just about discounts but about enriching the value and support provided throughout your insurance journey.
Simplified Haven Life Insurance Claims: Hassle-Free Process for Policyholders
Ease of Filing a Claim
Haven Life Insurance understands the importance of a straightforward claims process. Policyholders have the convenience of filing claims through multiple channels. Whether you prefer the ease of filing online, the simplicity of a phone call, or the mobility of using mobile apps, Haven Life has you covered.
Their flexible approach ensures that you can choose the method that suits your preferences and circumstances.
Average Claim Processing Time
When it comes to claim processing, time is a critical factor. Haven Life is committed to delivering efficient service to its policyholders. While the exact processing time may vary based on the nature of the claim, Haven Life aims to handle claims promptly.
This commitment allows you to navigate through the claims process without unnecessary delays, providing you with the support you need during challenging times.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback plays a crucial role in assessing an insurance company’s performance. Many policyholders have reported positive experiences with Haven Life’s claim resolutions and payouts. They appreciate the straightforwardness of the process and the fairness of the settlements.
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Haven Life Insurance: Cutting-Edge Digital and Technological Features for Policyholders
Mobile App Features and Functionality
Haven Life Insurance offers an array of mobile app features that empower policyholders with convenient tools and resources. The mobile app allows you to manage your policy, access important documents, and even initiate claims directly from your mobile device. Additionally, it provides real-time updates on your policy status and billing information.
The user-friendly interface ensures a seamless experience, enabling you to stay connected with your insurance coverage while on the go.
Online Account Management Capabilities
Managing your insurance policy online has never been more accessible with Haven Life Insurance’s online account management capabilities. By logging into your account through their website, you gain access to comprehensive policy management. You can review and update policy details, make payments, and access vital documents.
This online convenience puts you in control, allowing you to make necessary changes or updates as needed.
Digital Tools and Resources
Haven Life goes beyond traditional offerings by providing policyholders with a range of digital tools and resources. These resources include educational materials, frequently asked questions, and interactive tools designed to enhance your understanding of your insurance coverage.
Whether you seek to learn more about your policy options or need guidance on insurance-related topics, Haven Life’s digital resources are readily available to assist you.
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How Haven Life Ranks Among Providers
In the dynamic landscape of life insurance, Haven Life Insurance operates among several prominent competitors. These companies share the vision of simplifying the insurance process, providing accessible coverage, and catering to diverse individual needs.
Each competitor brings unique offerings and approaches to the market, aiming to redefine how life insurance is accessed and managed in the digital age.
- Ladder: Ladder Insurance provides flexible term life insurance policies with the ability to adjust coverage as needed over time. They offer online applications and focus on customizable coverage.
- Fabric: Fabric offers simplified and straightforward term life insurance policies. They also provide a digital platform for creating wills and managing family finances.
- Bestow: Bestow provides term life insurance entirely online, aiming for a quick and easy application process. They focus on no medical exam policies and offer coverage entirely through their digital platform.
- Ethos: Ethos offers term life insurance policies without a medical exam, emphasizing a fast and simple application process. They focus on providing coverage at competitive rates.
- Policygenius: While not an insurance provider, Policygenius is a platform that compares insurance policies from various companies, allowing users to compare multiple life insurance options, including those from Haven Life, Fabric, Ladder, and others.
While Haven Life Insurance stands as a leading player in the life insurance sector, it operates within a competitive landscape. Companies such as Ladder, Fabric, Bestow, Ethos, and platforms like Policygenius offer diverse approaches and unique features within the life insurance realm.
Their collective goal is to transform the insurance experience, offering convenience, accessibility, and tailored coverage options to individuals seeking reliable financial protection.
Are Haven Life insurance ratings positive?
Haven Life has an A+ rating from the BBB. It has not had to close any complaints through the BBB website in the past year. Haven life insurance reviews on the BBB website give the company a 1/5 star rating.
Since Haven Life doesn’t issue its policies, it does not have an A.M. Best rating. However, MassMutual (the owner of Haven Life and issuer of policies) has an A++ financial strength rating from A.M. Best, which means it has a superior ability to meet financial obligations.
MassMutual has an extremely low NAIC complaint index of 0.05. Compared to the national median of 1.00, MassMutual’s complaint index indicates that it gets significantly fewer complaints than companies of a similar size.
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Frequently Asked Questions
What is Haven Life insurance company?
Haven Life insurance company is a relatively new company that offers term life insurance products issued by MassMutual and C.M. Life Insurance Company, a MassMutual subsidiary. The company is focused on making applying for life insurance easy and digital.
What life insurance products does Haven Life offer?
Haven Life focuses on providing only term life insurance. Haven Life offers two different term life insurance plans — Haven Term and Haven Simple — issued by MassMutual or C.M. Life Insurance Company.
How much is Haven Life insurance?
Haven Life insurance rates can be calculated easily on the company’s website. The cost of Haven Life insurance varies based on a variety of factors, including age, gender, health, location, and more.
What is the difference between Haven Term and Haven Simple?
Haven Term is a medically underwritten plan, which means that a medical exam will most likely be required. It is available for people between 18 and 65, and terms include 10, 15, 20, and 30 years with coverage amounts ranging between $100,000 and $3 million.
Haven Term plans include Haven Life Plus, which provides additional benefits. Haven Simple is a simplified term life insurance policy, which means a medical exam is not required for approval. It is available in all states except CA, DE, SD, ND, and NY for people between 20 and 55, and terms are 5, 10, and 15 years.
Are Haven Life insurance ratings positive?
Haven Life has an A+ rating from the BBB. It has not had to close any complaints through the BBB.
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Travis Thompson
Licensed Insurance Agent
Travis Thompson has been a licensed insurance agent for nearly five years. After obtaining his life and health insurance licenses, he began working for Symmetry Financial Group as a State Licensed Field Underwriter. In this position, he learned the coverage options and limits surrounding mortgage protection. He advised clients on the coverage needed to protect them in the event of a death, critica...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.