Haven Life Insurance Review

Life insurance is one of the most important purchases many people make—but not everyone understands how or why to do so. Life insurance sounds complicated (term life? whole life? beneficiaries? medical exams?), but it doesn’t have to be. Haven Life, an online life insurance agency, has simplified the term life insurance application process. In just a few clicks and a few minutes you can get a quote—and if approved, get covered.

Here’s what you need to know about Haven Life to determine whether it’s right for you.

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About Haven Life

Haven Life Insurance Agency offers term life insurance through an online process. Coverage terms range from 10 to 30 years with coverage between $25,000 and $3 million, depending on your situation and policy.

Haven Life is owned and backed by MassMutual, one of the oldest and largest insurance companies in the country. You work with Haven Life to set up your policy, but, depending on the policy you go with, either MassMutual or C.M. Life will issue the policy and process and pay claims.

You can get a free quote and use Haven Life’s Quick Estimate and Needs Calculator to get a sense of how much coverage is right for you before you apply. The company boasts that its policy uses plain language, eschewing the complicated insurance jargon of traditional policies.

Who Can Use Haven Life

Haven Life offers two term life insurance products: Haven Term and Haven Term Simplified Issue. Terms and availability vary depending on the policy you go with.

	Haven Term	Haven Term Simplified Issue
Coverage	Up to $3 million	$25,000 to $500,000
Restrictions	Non-US citizens and those ages 60–64 are limited to $1 million	Policies up to 30 years available only to those between 18 and 49; 20-year policies are available to those between 50 and 65
Availability	Available in all 50 states and Washington DC	Not available in New York, California, Delaware, North Dakota, South Dakota
Medical Exam	Required for those over 60 and non-US citizens; May be required based on medical history and lifestyle	Not required
Issuer	Massachusetts Mutual Life Insurance Company	C.M. Life Insurance Company, a subsidiary of MassMutual
Premiums	Less expensive option of the two Haven Life Policies	More expensive option of the two Haven Life Policies
InstantTerm Approval	Available only for qualified applicants age 59 or younger who are applying for $1 million coverage or less and do not require a medical exam based on their application. Not all applicants will qualify for this InstantTerm approval process	If approved, coverage begins as soon as you e-sign and enter valid payment information

Other Restrictions

You must be between 18 and 64.
You must be a US resident.
You must be living in the United States.
You can’t be active military or in the process of enlisting.
The site does not disclose what medical history it uses to determine eligibility, but it does say that it may not be right for individuals with “significant health concerns, such as diabetes.”
Coverage is individual, which means that you and your spouse will need to apply separately if you both want coverage.
Not all features are available in every state.

Application Process

Once you decide to apply, click “Get your real rate.” You’ll be asked to create an account, after which you’ll be asked questions about your lifestyle and personal and family medical history. You’ll also need your Social Security number and driver’s license number, so have those handy.

Haven Life will verify the information by checking with third-party vendors. This takes just a few minutes, after which you will either qualify for the InstantTerm approval process or be required to take a medical exam.

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InstantTerm

Immediate approval is available only for US citizens age 59 or younger who are applying for $1 million coverage or less and also qualify for the InsantTerm approval process. Full coverage for qualifying applicants can begin immediately.

Medical Exam

Depending on your answers to questions in the application, you may be required to take a medical exam. Temporary coverage may be extended through the exam, until you get full coverage, cancel your application, or are denied coverage.

If you are required to take a medical exam, Haven will help you schedule the exam and complete the application process. You can have a trained paramedic come to your home or go to an ExamOne/Quest Labs location. This medical exam typically takes about 20 minutes and is paid for by Haven Life. Once your results have been processed, you can receive an offer 7-10 days following your medical exam.

Other Application Notes

The application can only be done online. If you prefer a physical application, you’ll probably want to go with a different insurance carrier. Note that if you have to make edits to your application, you’ll need to cancel your current application and reapply. Do your best to accurately complete your application on the first go! If you change your mind, you can cancel your application at any time.

Making Claims

To file a claim, someone—it does not need to be the beneficiary—will need to call the policy service center. This part cannot be done online. The person who calls to start the claims process will need to know quite a bit of information: their relationship to the deceased, the SSN for both the deceased and the beneficiary, the date of death, policy number, and final death certificate.

Claim forms and documents will then be mailed to the beneficiary to fill out and return. The beneficiary does not need to call to submit the claim, but they will need to complete the forms and claim requirements.

Payments are sent via lump sum check, and any interest accrued may be taxable. Like most life insurance policies, there is a two-year contestability period from the time that coverage begins. If the insured person passes away during that time, claims may be subject to additional review.

Features of Haven Life Products

If one of the policies offered by Haven Life meets your needs and you qualify for the terms you want, there are a lot of reasons to go with a Haven policy.

Haven Term Policy

Haven Life Plus: The Haven Life Plus rider is a bonus feature that offers access to discounted or no-cost services to help you be healthier, including a fitness app, sleep app, and customized online will. This rider is included in the cost of the Haven Term policy, though you can opt out. Services are subject to state availability.
Accelerated Death Benefit: Every policy includes an Accelerated Death Benefit rider. This benefit allows a terminally ill individual to receive an advance of their policy’s death benefit while still alive. The amount advanced plus interest is taken from the death benefit. An administrative fee is charged when the rider is exercised.
Waiver of Premium: If a policyholder becomes “totally disabled” as defined in the policy, they will not need to pay premiums for the policy and any applicable riders for the duration of their disability. This rider is available for an additional monthly fee for those under the age of 50. It is currently only available in California, Delaware, Florida, North Dakota, New York, South Dakota, and Washington DC.
Guaranteed Renewability: Included with Haven Term, this rider allows a customer to renew their policy (at a higher rate) without additional underwriting after their level term has expired. So if you are diagnosed with a terminal illness, you cannot be denied coverage if you renew during the renewal period. Your premium will be more expensive, but it may offer you coverage when other policies will not accept you.
Level Premium: Your premium won’t change, no matter what, throughout the policy term.
Backed by MassMutual: Though Haven Life is relatively new, it is backed by more than 160 years of experience from MassMutual.
Commission Free: There are no agents working for a commission, so there is no upselling.
Free Look Period: You have at least 10 days, depending on where you live, to cancel your contract and receive a complete refund.

Haven Term Simplified Issue

Haven Term Simplified Issue may be “simplified,” but it still offers some significant features shared by the Haven Term Policy:

Level Premium
Backed by MassMutual
Commission Free
Free Look Period

Downsides of Haven Life Products

Only you can decide what life insurance policy is right for you. Here are a few downsides to consider from both products before you apply.

Haven Term

A medical exam may be required. Other online insurance agencies like Bestow offer no medical exam policies.
Coverage is capped at $3 million.
Policies are not available to those over 65.
There are no agents, which means there’s not a specific person you can contact to get help with your policy. However; they do have positive reviews for their customer support team.

Haven Term Simplified Issue

Coverage is capped at $500,000
Haven Life Simplified Issue and certain other benefits are not available everywhere.
Policies are not available to those over 65.
Not available in New York, California, Delaware, North Dakota, or South Dakota. (Haven Term is available in all states.)

Get Term Life Insurance

If you’re ready to get life insurance coverage, get a free quote and apply for Haven Life insurance today.

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Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in certain states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 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. In CA, Haven Term is DTC-CA. Our Agency license number in California is OK71922 and in Arkansas, 100139527.

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 Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in certain states, including NC) issued by the C.M. Life Insurance Company, Enfield, CT 06082 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. Our Agency license number in California is OK71922 and in Arkansas 100139527.