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at a glance
Haven Life, which operates under parent company MassMutual, is an entirely online life insurance company that may appeal to some shoppers. However, there are no local agents, no mobile apps, and limited services offered.
Strong Points
- Offer a no-testing policy for some applicants
- Subsidiary of MassMutual, a highly rated life insurance company with strong financial performance
- It operates entirely online and may be attractive to policyholders who prefer to manage their policies digitally
Cons
- Sparse policy offering
- No mobile app
- No local agent
Founded in 2015, Haven Life is an insurance company that offers medically underwritten life insurance online. Headquartered in New York, Haven Life offers products and services nationwide, but not all types of insurance are available in each state. Haven Life operates under its parent company, MassMutual.
Haven Life’s parent company, MassMutual, has consistently received high third-party ratings from JD Power and AM Best, and has received a small number of complaints with the National Association of Insurance Commissioners (NAIC). However, when it comes to insurance offerings, Haven Life only offers term life insurance and disability income insurance, in contrast to many of its competitors who offer whole life insurance. The company offers annuities if you are interested in additional financial products. Haven Life is licensed to do business in all states, but not all types of insurance are offered in each state.
Haven Life Insurance Coverage Types
Haven Life offers term life insurance issued by its parent company, MassMutual. We offer the following types of life insurance: If you’re not sure how much life insurance you need or what type of life insurance you’re looking for, see our Life Insurance Guide.
- heaven term: This particular term insurance policy usually requires applicants to undergo a medical examination before coverage is approved. For U.S. citizens between the ages of 18 and her 64, depending on age, he will provide life insurance of up to $3 million for terms of 10 to 30 years.
- Haven Simple: This term life insurance policy provides payouts of $25,000 to $500,000 without requiring a medical examination before coverage is approved. Applicants between the ages of 20 and her 55 can choose from her 5, 10, 15, and 20-year terms depending on her age. Haven Simple is not available in California, Delaware, New York, North Dakota, South Dakota.
- disability income insurance: This is an insurance that covers expenses during the period when you are unable to work due to sickness or injury.
As you can see, Haven Life does not offer whole life insurance options such as whole life insurance or universal life insurance. However, Haven Life can still be a competitive choice if you are looking for the best term life insurance available. If you decide to purchase term life insurance, we recommend using our Life Insurance Calculator to ensure you are purchasing the correct coverage.
haven life service
Haven Life Insurance also offers a MassMutual-backed pension through a program called AgeUp. AgeUp provides guaranteed income for the rest of your life once you reach your 90s, with the option to have your premiums refunded to help with funeral costs and more.
Other Haven Perks Worth Considering
If you are unsure about Haven Life insurance, consider the following perks.
- pension: If you are looking for financial products other than traditional life insurance, Haven Life Annuities may be of interest to you.
- Socially Responsible Business: Haven Life’s parent company, MassMutual, won two awards for its responsible practices in 2021.
- Underwritten by major insurers: The backing of MassMutual, an A++ (Superior) company on AM Best’s financial strength rating, ensures the company’s historic claims paying ability.
- blog: The company maintains a blog that addresses common personal financial issues and publishes organizational news.
Haven Life Insurance Customer and Claim Satisfaction
Haven Life’s parent company, MassMutual, scored well above the industry average in JD Power’s 2021 U.S. Individual Life Insurance Survey, indicating policyholders are generally satisfied with its services. I’m here. MassMutual received an A++ (excellent) rating for financial strength from AM Best. The company received far fewer complaints than average, according to NAIC metrics.
Haven Corporate Sustainability
MassMutual was named one of the World’s Most Ethical Companies in 2021 by the Ethisphere Institute. The company also earned his 100% in the 2021 Human Rights Campaign Corporate Equality Index rating.
Not sure if Haven is right for you? Consider These Alternatives
Haven Life Insurance is not for every shopper. If after reading this Haven Life insurance review you decide to research other companies, start with the list below. One of the insurance companies. If you are interested in any of these providers, we encourage you to obtain a life insurance quote.
- State Farm: If you’re looking for a reputable insurance company that offers auto, home, and life insurance in most states, learn more about State Farm. The company offers life insurance for children, along with policies suitable for those looking for life insurance after the age of 50.
- USAA: USAA provides life insurance only to military personnel, veterans and eligible family members. If you qualify, it might be worth investigating. The company is known for its excellent customer service and specific features tailored to service members.
- Whole country: If you’re overwhelmed by Heaven Life’s sparse insurance offerings, it’s a good idea to research nationally. Nationwide offers multiple riders, multiple accessibility options, and a JD Power score of high customer satisfaction.
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