Although it’s not a pleasant topic to discuss, death is inevitable. That’s why it’s important to consider life insurance: to make sure that in the case something unpleasant happens to you, your family is financially supported and secure.
Haven Life is a term life insurance provider that allows customers apply for and manage their life insurance policy online. Haven Life’s parent company, MassMutual, is one of the largest life insurers in the nation. The parent company issues the policies. In the following review, we’ll cover Haven Life policies, features and costs, in order to help you decide if Haven Life insurance is right for you.
(Visit the link to learn more on the Haven Life website)
Haven Life Features
One of Haven Life’s biggest appeal is that they allow customers to easily apply and manage their insurance policies without the need to interact with an agent. As a result, there are no commission fees, no up-selling and no hassle. If you do have any questions during the process, the company’s customer service can help.
- Level premiums: Your monthly payment will remain the same throughout the term.
- Accelerated death benefit rider: If you become terminally ill, you can access a portion of the policy benefit early to assist with end-of-life medical care or other needs.
- Disability waiver of premium rider: Available in some states and carries an additional fee. If you become totally disabled from illness or injury, you don’t have to pay premiums during that time. If the disability extends beyond six months, a full refund will be issued.
- Free access to Aaptive, an in-home fitness app (normally $99/year).
- Free legal wills for you and your partner at Trust & Will ($129 in value).
- Free subscription to LifeSite, a secure, digital safe deposit box, for you and up to 5 family members (normally $80/year).
- Free access to Timeshifter, a travel app that helps to prevent jet lag (normally $24.99/year).
- 15% discount voucher for family health services at MinuteClinic inside CVS Pharmacy and Target stores.
Haven Life Policies
Haven Life offers term life insurance and term simplified life insurance. Unfortunately, there are no permanent life insurance options, like whole life insurance, to choose from.
Haven Term
| Product Type | Medically underwritten term life insurance |
| Medical Exam | Likely, but not in all cases |
| Age Eligibility | 18 – 65 |
| Coverage Amounts | $100,000 – $3 million |
| Available Terms | 10, 15, 20 and 30 years |
| Payout | Tax-free lump sum |
| Additional Features | Level premiums Accelerated death benefit Paperless processing No obligation free look period Haven Life Plus |
Haven Simple
Haven Simple term life insurance policy was designed for those who want to skip the medical exam and don’t mind paying a little more for the convenience. This term life insurance policy is available in coverage amounts up to $500,000. Unfortunately, this policy is not available for residents in CA, DE, SD, ND or NY.
| Product Type | Simplified issue term life insurance |
| Medical Exam | No |
| Age Eligibility | 18 – 65 |
| Coverage Amounts | $5,000 – $500,000 |
| Available Terms | 10, 15, 20 and 30 years |
| Payout | Tax-free lump sum |
| Additional Features | Level premiums Accelerated death benefit Paperless processing No obligation free look period Credit card payments accepted |
Haven Life Insurance Cost
The cost of life insurance will depend on several factors, including:
- The type of coverage you purchase
- How long the coverage lasts
- The coverage amount
- Personal factors like gender, age and health
Here’s a list of quotes from Haven Life’s website:
(Visit the link to learn more on the Haven Life website)
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Bottom Line
In the end, your death will assist in managing financial risks to your family and loved ones if they depend on your income. Haven Life is a great option if you’re looking to purchase affordable term life insurance online. No only is it accessible online, it is simple, quick and commission-free.
An alternative to Haven Life is Ladder, which is a newer insurance provider. Expect even more affordable pricing during Ladder Life Insurance sales event, promotions, or any deals
If you’re interesting saving money, we’ve composed a list of other ways to Save Money that you can check out. Also if you would like to see all the latest bank deals nationwide, be sure to view our full list of Bank Bonuses and find one in your area!
