Our number one priority is finding shoppers the best life insurance companies at the best price available. If you’re looking for Haven Life insurance reviews and want to know how they stack up against the competition- keep reading.
Haven Life Insurance Company
Haven Life Insurance is nationwide and will cover people up to 65 years of age. Again, unlike other life insurance companies that require you to speak with someone, fill out the application, and then wait weeks to get a decision, Haven is done completely online!
Is Haven Life Insurance the right choice for you?
In searching for the best life insurance policies, we came across Haven Life and found not only it is a great value for term life insurance but the entire process only takes 25 minutes online. The entire process is completed online which includes calculating what you want, comparing quotes, completing the application, and purchasing the policy once you are approved.
About Haven Term Life Insurance policies
So what life insurance types does Haven Life offer? They offer great coverages up to one million dollars and will start immediately upon approval.
Does Haven Life offer Whole life or Term?
As of now, Haven Life only offers term life insurance.
How much coverage can I apply for with Haven Life?
Are age 59 or younger? If so, you can apply for policies ranging from $100,000 to $2 million term life insurance. If you’re age 60-64, you can apply for up to $1,000,000 term life.
Can I qualify and get a Haven Life policy?
For you to be eligible to qualify for Haven Life coverage, you will need to meet certain criteria.
This criteria includes:
- U.S. resident and citizen
- Between the ages of 18 and 64 years of age
- Not currently enlisted in the military or in the process of enlisting
- Not intending to use your Haven Life policy for business life insurance purposes
- Not planning to use your Haven Life policy to replace another life insurance policy
Haven Term may not be right for all life insurance shoppers. If you have preexisting conditions or any serious health concerns, Haven Life encourages you to still apply, but they might not approve you for coverage. Make sure to speak with a Life Insurance Blog agent if you have any health issues to see if Haven Life is a good fit for your life insurance needs.
What you’ll need for your Life Haven Quote
Haven Life will require the following information:
- Your Age
- The Status Of Your Health
- Whether You Smoke Or Not
- The Amount Of The Death Benefit
- The Length Of The Policy
If you are confused and do not know how much term life insurance you will need, just click on the text that says “I’m not sure how much I need”.
Haven Life will bring you through a series of questions to find the policy that’s right for you:
- Your annual income and total debt.
- Your family members, their ages, and your employment status
Once you have chosen the term life policy that’s right for you, Haven will ask you to create a login to save your application. Just put in your email address and create a password so you can review your policy and return to the application at some point later on. After creating an account you will then go to the full application page. Once on the final application, you will be asked the following questions:
- The purpose of the insurance policy (to protect your family)
- Your name, date of birth, height, weight, current address, citizenship
- Information regarding your family’s health history
- Detailed information about your health
- Your employment information
In order for Haven to process your application from this information, will ask for your approval to access public third-party databases. They use real-time in order to offer an immediate coverage decision. The third-party databases include prescription drug history, motor vehicle records, and information from the Medical Information Bureau.
By gathering this information, Haven Life is able to provide an immediate decision about your insurability and provide a premium rate.
Depending on the information Haven gathers, you could be denied coverage or you will be requested to get a medical exam before providing coverage. If you are approved, you will electronically sign all required documents right then and there and your coverage will kick in immediately. If you do need a medical exam, they will help you schedule an appointment at your earliest convenience.
Do I need a medical exam?
Most insurance companies require you have a medical exam before they will approve you for coverage.
Haven Life is quite unique in allowing people to apply totally online. Once your application has been submitted you will be notified whether or not you need a medical exam. If you are approved, you can purchase your policy which kicks in immediately. Haven Life has policies up to 30 years and $2 million dollars. If you need a medical exam, you will have a generous 90 days to get it done.
Should you have any questions or concerns, Haven Life offers customer support through live chat, via an email, or by phone.
About the Haven Life application process
Haven prides themselves on offering a very quick application process by getting data and using algorithms and AI (artificial intelligence) to immediately evaluate your application. It’s a quicker underwriting process compared to traditional methods.
If you are approved, coverage will begin immediately. Also, some customers up to 45 years of age will not need a medical examination while others will have 90 days to complete the exam but will be offered a temporary coverage with an introductory cost for the time being. That said, there are some applicants that will not receive temporary coverage until after the results of the medical exam come in and in some cases, you will only have 30 days to get the exam completed.
Once the results of the exam come in, the price will be finalized, if approved. In some very rare cases, if a customer has been declined coverage after the exam or they choose not to accept the policy, the company will give them a refund. If the applicant is approved after the exam, the coverage will go into effect immediately, as long as the customer still wants the policy.
Who should apply with Haven Life?
Anyone who needs a term life insurance policy but does not want to go through the drawn-out application process provided by other insurance companies.
Anyone who wants to get life insurance very quickly.
Haven Life company details
Name(s): Haven Life, MassMutual Financial Group, Massachusetts Mutual Life Insurance Company
1295 State Street
Springfield, MA 01111
Ratings: A.M. Best (A++), Fitch (AA+), Moody’s (Aa2), Standard & Poor’s (AA+)
The financial strength of Haven Life
The financial strength of a life insurance company is critical for determining how well they pay on claims. If the company’s financial strength is not good, it could take many, many years after a policy was purchased.
Haven’s parent company is MassMutual which has a “superior” rating with A.M. Best.
How is MassMutual associated with Haven Life?
MassMutual (Massachusetts Mutual Life Insurance Company) backs and owns Haven Life. The relationship that MassMutual has with Haven Life provides a combination of financial protection and stability coupled with innovation.
Haven Life Insurance reviews
The bottom line is that Haven Life provides life insurance shoppers:
- A very fast application and approval process.
- No medical exams are required for some people.
- Offers competitive term life rates but does not offer permanent life.
Hopefully, you have learned a lot about Haven Life Insurance and will entice you to look into their policies before making a final decision on a life insurance policy.
Will Haven Life provide you the best rate?
It’s hard to say, because each carrier looks at you differently. That’s why we’ve put together dozens of reviews of the top life insurance companies in the USA. Is Haven better than National Life Group or AAA term life insurance? What about Nationwide life insurance reviews? We’ve reviewed them all and more.
If you’d like help or have any questions, let us know. We’ll help you find the best company that you can qualify for and we’ll even shop your case after your approval- just to be sure you’re getting the best rate.
To learn more about life insurance, make sure to visit our page Life Insurance 101 or find out how much you may end up paying for coverage on our Life Insurance Rates by Age page.