Haven Life was founded in 2013 on the principle of making life insurance simple and accessible. The entire application process for a policy from Haven Life is online, which made Haven Life standout from other life insurers. Because of this, the company has been featured in publications such as The Huffington Post, Forbes, Business Insider, The Wall Street Journal, and others.
Haven Life offers future policyholders term life insurance with a quick application and approval process. It offers term policies that do not require a medical exam in certain cases. Often no-exam life insurance policies have slightly higher premiums than policies that require a medical exam.
Haven Life offers potential policyholders real rate life insurance quotes. These quotes are based on the life insurance application information potential clients submit and other information from the underwriting process. These real rate quotes are available to applicants following the online application process.
In some cases, potential clients will need to undergo a medical exam prior to receiving approval and a finalized rate. Individuals under the age of 59 who are purchasing less than one million dollars of insurance may be able to purchase no-exam life insurance called InstaTerm.
Life insurance rates are based on several factors, including the amount of benefit coverage purchased, age, gender, occupation, and health. While no-exam life insurance is more convenient to purchase, the cost of these policies is a little higher than those of exam life insurance policies.
Individuals who may qualify for the InstaTerm life policy should weigh the pros and cons of exam life insurance versus no-exam life insurance. If you're in excellent health, it may be worthwhile to undergo the medical exam to see if you could get a slightly lower rate.
Haven Life is a pioneer of online life insurance coverage. Nearly the entire process of signing up for your policy is paperless. This makes buying life insurance an easier and more convenient process.
MassMutual (Massachusetts Mutual Life Insurance Company) owns Haven Life. This backing by a strong company in the life insurance industry is a great sign of stability and allows clients to trust Haven Life. MassMutual also has high financial strength ratings, which speaks to its financial stability.
With a life insurance provider, it's typically best to go with a company that's been established for decades, especially since policies are so long term. Since Haven Life is still relatively young compared to other life insurance companies, it can be tough to gauge where the company will be in coming years.
However, Haven Life is backed by MassMutual which has a long history as an insurer and high financial strength ratings. This backing offers Haven Life clients more security and stability when they buy a term life insurance policy from it.
According to what we could find, Haven Life only offers term policies. Other top life insurance providers offer not only term policies, but whole, universal, and variable universal policies as well.
While a permanent insurance policy offers coverage for an entire lifetime, a term life insurance policy is cheaper because it only offers insurance coverage for a specified period of time.
Potential clients interested in buying a permanent life insurance policy will have to find another company.
If you're looking for a good term life policy with a convenient online application process, Haven Life is a great choice.