| Pros | Cons |
|---|---|
| Two distinct term life insurance policies make a good fit for almost any applicant. | Medical exam required for coverage amounts above $500,000. |
| Backed by Massachusetts Mutual Life Insurance Company. |
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Available in all 50 states, Haven Life insurance offers a variety of life insurance policies such as term, disability, and annuities. Adults ages 18 to 64 are eligible to apply for a Haven Life term life insurance policy of up to $3 million in coverage. Applicants can choose between two Haven Life term policies—Haven Term which requires a medical exam with high coverage and Haven Simple which doesn’t require a medical exam with lower coverage—both of which offer term lengths ranging from 10 to 30 years.
Haven Life offers two different term life insurance policies, making this insurance company a great fit for almost everyone. Unlike other life insurers, Haven Life locks in an applicant’s premium pricing at signup, saving customers money as they pay the same price even as they age. Typically offered as a rider by other companies, Haven Life gives policyholders access to a portion of their coverage if they become terminally ill as a built-in feature.
| Pros | Cons |
|---|---|
| Two distinct term life insurance policies make a good fit for almost any applicant. | Medical exam required for coverage amounts above $500,000. |
| Backed by Massachusetts Mutual Life Insurance Company. |
Haven Life offers three primary life insurance products: term life insurance, disability life insurance, and annuity life insurance.
Term life insurance protects a policyholder’s family and friends from financial harm in the event of the policyholder’s untimely death. Haven Life splits its term life insurance products in two, offering both Haven Term and Haven Simple. Both Haven Life term policies are “Individual,” meaning that the applicant must insure themself and cannot apply in someone’s stead.
Haven Term is Haven Life’s maximalist policy, perfect for adults in great health looking to get over $500,000 in coverage.
Applicants to Haven Term can typically apply online, but some customers may be required to get a medical exam (especially if they seek higher coverage amounts).
Haven Simple is perfect for applicants who either 1) do not need more than $500,000 in coverage, 2) never want to go in for a medical exam, or 3) are in less-than-perfect health.
Haven Simple life insurance offers:
Medical exams are never required with Haven Simple. Haven Simple is typically priced higher than Haven Life for applicants with similar policy details and personal information.
Haven Disability
Haven Life also offers short-term disability insurance, where a policyholder and their family members or friends can receive a coverage amount in the event that they are sick, injured, or disabled. It’s an affordable way to protect you and your loved ones from financial stressors following a severe illness or injury that could leave you unable to work for some time.
Haven Disability policyholders can receive up to $5,000 a month in coverage for periods of 3, 6, or 12 months.
AgeUp (Deferred Income Annuity)
AgeUp is a deferred income policy designed for policyholders in very good health who want to avoid the financial strain of micromanaging retirement savings in their later years.
Starting at age 91, AgeUp policyholders receive a monthly coverage amount. Applicants can choose an AgeUp policy that awards a death benefit to a policyholder’s beneficiaries in the event of their death, or they can choose a slightly cheaper policy that does not award a death benefit at the time of their death. Policyholders can insure themselves for AgeUp once they are 50 years old.
Haven Life’s term life insurance policies protect a policyholder’s family and friends from the financial fallout associated with the policyholder’s untimely death.
Haven Life’s term life insurance policies do not award coverage in every scenario. Scenarios that will annul the contract include:
In life insurance, a “rider” is an add-on product that grants extra benefits or coverage inclusions to a policyholder’s contract. Haven Life offers one rider called Haven Life Plus.
Haven Life Plus offers customers up to $700/year in quality-of-life benefits. Benefits may include access to fitness apps, digital wills, and more.
Haven Life’s website features an educational blog, full of helpful content that is custom-made for applicants who are unfamiliar with life insurance products. Haven Life’s blog includes articles on how to find the right coverage amount, the difference between different life insurance products, and more.
Haven Life has a review score of 4.5 on Trustpilot, a rating considered “Excellent.”
The vast majority of reviews are 5-star, praising Haven Life’s easy application process and quick response times. There were only a handful of low-star reviews, most of which claimed that Haven Life’s customer service team was hard to reach.
Life insurance pricing is based on the unique traits of every applicant, including features such as a person’s age, gender, BMI, smoking habits, location, and other factors.
The following “Haven Term” sample rates are based on a nonsmoking applicant in “Excellent” health who lives in Illinois. As Haven Term policies require medical exams on a case-by-case basis, the following sample policies could require a medical exam to receive coverage.
$500,000 Coverage
| Age | Amount | Policy | Female | Male |
|---|---|---|---|---|
| 35 | $500,000 | 20-year term | $17.50/mo. | $20.72/mo. |
| 40 | $500,000 | 20-year term | $24.11/mo. | $28.42/mo. |
| 45 | $500,000 | 20-year term | $36.45/mo. | $42.49/mo. |
| 55 | $500,000 | 20-year term | $109.56/mo. | $151.05/mo. |
| 65 | $500,000 | 20-year term | $468.40/mo. | $545.82/mo. |
$1,000,000 Coverage
| Age | Amount | Policy | Female | Male |
|---|---|---|---|---|
| 35 | $1,000,000 | 20-year term | $29.03/mo. | $34.08/mo |
| 40 | $1,000,000 | 20-year term | $40.82/mo. | $49.15/mo. |
| 45 | $1,000,000 | 20-year term | $66.57/mo. | $80.00/mo. |
| 55 | $1,000,000 | 20-year term | $216.69/mo. | $296.79/mo. |
| 65 | $1,000,000 | 20-year term | $938.06/mo. | $1093.44/mo. |
For pricing that is tailored to you, we recommend you get a free quote directly from Haven Life’s website.
From start to finish, it only takes a few steps to sign up for Haven Life term life insurance:
Customers seeking more than $500,000 in coverage may be required to take a medical exam.
Is Haven Life a legitimate company?
Yes, Haven Life has over 1,000 reviews on Trustpilot, 96% of which are rated with four or more stars. Additionally, Haven Life is backed by Massachusetts Mutual Life Insurance Company.
Is Haven Life part of MassMutual?
Yes, Haven Life is a credible life insurance company backed by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111, a leading life insurer with more than 160 years of industry experience, or its subsidiary, C.M. Life.
Does Haven Life require a medical exam?
Haven Life does not require a medical exam for many of its policyholders. Policyholders who sign up for Haven Simple never have to take a medical exam, whereas Haven Term applicants may have to take a medical exam if they request a large coverage amount or have a varied medical history.
Is Haven Life available in my state?
Haven Life is available in all 50 states.
Thanks to its two distinct life insurance products, Haven Life can offer affordable life insurance policies to nearly any American. Haven Life customers have flat premium rates for the life of their contract, can add the Haven Life Plus rider, and typically are not required to get a medical exam during the completely online application process. Whether you’re looking for term life insurance, disability insurance, or annuities, Haven Life has the perfect policy for you.
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