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Not rated Bankrate Score Home 0.0 Auto 0.0 About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Haven Life, which operates under parent company MassMutual, is a fully-online life insurance company, which could be attractive to some shoppers. However, there are no local agents, no mobile app and the coverage offerings are limited. Pros and Cons Quick Look Pros Offers no-exam policies to some applicants Subsidiary of MassMutual, a highly-rated life insurance company with strong financial history Operates fully online, which may be attractive to policyholders who prefer to manage their policy digitally Cons Sparse policy offerings No mobile app No local agents Operates completely online Owned by MassMutual Only term and disability insurance available Launched in 2015, is an insurance company that offers medically underwritten life insurance coverage online. Haven Life, which is headquartered in New York, offers its products and services nationwide, although not all policy types are available in each state. Haven Life operates under its parent company, MassMutual. MassMutual, Haven Life's parent company, consistently receives high third-party ratings from and , and received a low number of complaints filed with the National Association of Insurance Commissioners (). However, when it comes to insurance offerings, Haven Life only offers term life and disability income insurance, in contrast to many of its competitors that offer permanent life insurance. If you're interested in additional financial products, the company offers annuities. Haven Life is licensed to do business in every state, but not every policy type is offered in each state. Haven life insurance coverage types
Haven Life offers term life insurance issued by , its parent company. It offers the following . If you're not sure how or what type of life insurance you're looking for, you may want to consult a . : This particular term insurance policy generally requires applicants to get a medical exam before coverage is approved. It offers U.S. citizens between ages 18 and 64 up to $3 million in life insurance, with a 10- to 30- year term, depending on age. : This policy before coverage is approved and offers between a $25,000 and $500,000 payout. Applicants between the ages of 20 and 55 can choose between term periods of five, 10, 15 and 20 years, depending on age. Haven Simple is not available in California, Delaware, New York, North Dakota or South Dakota. : If you're unable to work due to a sickness or injury, this policy can help cover expenses during the period of lost income. As you can see, Haven Life does not offer permanent life insurance options such as or universal life insurance. However, if you're looking for the available, Haven Life may still be a competitive option. If you decide to purchase term life insurance, you may want to use a to make sure you're purchasing the right amount of coverage for you. This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. The offers and clickable links that appear on this advertisement are from companies that compensate Homeinsurance.com LLC in different ways. The compensation received and other factors, such as your location, may impact what ads and links appear, and how, where, and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available to you as a consumer. We strive to keep our information accurate and up-to-date, but some information may not be current. Your actual offer terms from an advertiser may be different than the offer terms on this widget. All offers may be subject to additional terms and conditions of the advertiser. Compare life insurance providers quickly and easily
See which provider is right for you. The amount of coverage you need depends on many factors, including your age, income, mortgage and other debts and anticipated funeral expenses. Whole life insurance combines life insurance with an investment component. Coverage for life Tax-deferred savings benefit if premiums are paid 3 variations of permanent insurance: whole life, universal life and variable life include investment component Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time. Fixed premium over term No savings benefits Outliving policy or policy cancellation results in no money back Find matches Powered by HomeInsurance.com (NPN: 8781838) This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Bankrate Why Lemonade? It's a fresh twist on life insurance: easy, accessible and affordable. See more providers in Choose from insurers in Show More Haven life services
Haven Life insurance also offers annuities backed by MassMutual through a program called AgeUp. AgeUp gives you guaranteed income through your life if you reach your 90s, with the option to have your premiums returned to help with funeral costs and more. Other Haven perks worth considering
If you’re on the fence about Haven Life insurance, you may want to consider the following perks. Annuities: If you’re looking for financial products beyond traditional life insurance, you may be interested in Haven Life annuities. Socially responsible business: MassMutual, Haven Life’s parent company, won two awards for its responsible practices in 2021. Underwritten by a large insurer: Backed by MassMutual, a company with an AM Best financial strength rating of A++ (Superior), you can be assured of the company’s historic ability to pay out claims. : The company operates a blog that addresses common personal finance issues and publishes organizational news. Haven life insurance customer and claims satisfaction
MassMutual, Haven Life’s parent company, scored well above industry average in the J.D. Power , showing that policyholders are generally satisfied with the company’s service. MassMutual received a rating of A++ (Superior) from AM Best for financial strength, the highest score available. The company also received much , according to the NAIC’s index. Haven corporate sustainability
MassMutual was named one of the World's Most Ethical Companies by the Ethisphere Institute in 2021. The company also scored 100% on the Corporate Equality Index rating by the Human Rights Campaign in 2021. Not sure if Haven is right for you Consider these alternatives
Haven Life insurance will not be the right fit for every shopper. If, after reading this Haven Life insurance review, you decide to research other companies, you may want to start with the list below. The companies in the following list are among the , based on Bankrate's objective analysis. If you're interested in these providers, you may want to from them. : If you're looking for a well-respected insurer that offers auto, home and life insurance in most states, you may want to learn more about State Farm. The company offers , alongside policies suited to those looking for . : USAA only offers life insurance policies to members of the military, veterans and qualifying family members. If you qualify, it may be worth researching. The company is known for excellent customer service and certain features tailored to service members. : If you're underwhelmed by Haven Life's sparse policy offerings, you may want to research Nationwide. Nationwide offers multiple riders, several accessibility options and a high J.D. Power score for customer satisfaction. On This Page
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