Haven Life Insurance Review 2022


Bottom line: Haven Life has a simple online application procedure that allows certain applicants to avoid medical tests. Although the company's product line is modest, client satisfaction is strong.


HAVEN LIFE INSURANCE


  • NerdWallet gave it a five-star rating.
  • Provides term life insurance online with a simple application process.
  • Some applicants do not need to take a medical exam.

Haven Life is an online provider of term life insurance with a quick application procedure that takes around 25 minutes. Applicants up to 59 years old who meet the requirements can purchase up to $1 million in coverage that begins immediately and requires no medical examination. Haven Life plans are issued by MassMutual, one of the major life insurers in the United States. Haven Life does not provide long-term life insurance.

Haven Life Insurance is a type of life insurance.


Overall, Haven Life received a perfect score of 5 out of 5 stars. Our editorial staff determines NerdWallet's ratings. Consumer feedback, statistics from the National Association of Insurance Commissioners, and financial strength ratings are all factors in the score algorithm.


Haven Life is one of NerdWallet's Best Life Insurance Companies based on these ratings.


Haven Life insurance pros and cons

Pros Cons
Significantly fewer than expected customer complaints. Term life policies cannot be converted to whole life coverage.
Some applicants won’t need a medical exam.

Life insurance products from Haven


Haven Life collects data and evaluates applications rapidly using an algorithm and artificial intelligence. The business provides two types of term life insurance:

Haven Term offers up to $3 million in coverage to those under the age of 60, and up to $1 million to those between the ages of 60 and 64. Some healthy people up to the age of 59 may be eligible for up to $1 million in coverage that begins right away. In many circumstances, however, applicants must pass a life insurance medical test in order to obtain coverage.

Haven Simple is for people who would rather not have a medical examination. If your digital application is accepted, you can get up to $500,000 in coverage. If you live in California, Delaware, South Dakota, North Dakota, or New York, Haven Simple is not available.



If you become terminally ill, you can use part of your death benefit if you have a Haven Life policy with an expedited death benefit. You can get a waiver of premium rider in some situations, which means you won't have to pay premiums if you become permanently handicapped.



Customer feedback and satisfaction at Haven Life


According to a NerdWallet review of data from the National Association of Insurance Commissioners, Haven Life has received much less complaints to state regulators than expected for a firm of its size over the last three years.


In addition, in J.D. Power's 2021 U.S. Life Insurance Study, Haven Life's parent firm, MassMutual, was ranked No. 7 out of 21 businesses for overall customer satisfaction.

Additional information about Haven Life Insurance


Haven Life Plus, a complimentary option that may be added to an insurance, provides extra services. Haven Life Plus is not available in Florida, New York, North Dakota, South Dakota, or Washington, and some services may be limited to California.


Haven Life Plus members get access to:
  1. A digital service offered by Trust & Will to create an online will.
  2. A one-year subscription to Aaptiv, an audio-based fitness app.
  3. Timeshifter, a program that helps you create custom plans to avoid suffering from jet lag.
  4. LifeSite, an online safe deposit box, for you and five family members.
  5. A 15% discount on any single CVS MinuteClinic service.


Guide to Purchasing Life Insurance


Choose the sort of life insurance you want, such as term or whole life, before you start comparing firms. Choose which life insurance riders, if any, you want included in the policy. Calculate how much life insurance you'll need and how long you'd like it to last. Check to see if the insurers you're considering provide the coverage you require.


When comparing prices, be sure that the quotations are for the same amount of coverage and for the same time period. It's also crucial to check if the policy's medical standards are appropriate for your needs. If you don't want to take the life insurance medical exam but don't mind answering health questions, be sure the application procedure for each policy you're considering is compatible.



It's possible that price isn't the most important factor in your purchase choice. Examine the quantity of customer complaints received by each firm, since excessive numbers might indicate poor service quality.



See our life insurance shopping guide for more information.




Methodology for calculating life insurance ratings


Consumer reviews, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which reflect a company's capacity to pay future claims, all go into NerdWallet's life insurance ratings. We regard ease of communication and website transparency as part of the customer experience category, which looks at the depth of policy data available online. We converted the scores to a curved 5-point scale to determine each insurer's rating.



These ratings are intended to serve as a reference, but we recommend that you shop about and compare numerous insurance quotes to obtain the best deal. NerdWallet is not compensated for any of its reviews. Please review our editorial policies.

Methodology for Insurance Complaints


In the 2018-2020 reporting period, NerdWallet investigated complaints submitted by state insurance regulators and reported to the National Association of Insurance Commissioners. Each year, the NAIC generates a complaint index for each subsidiary, calculating its proportion of overall complaints compared to its size, or share of total premiums in the industry, to see how insurers compare. NerdWallet constructed a comparable index for each insurer throughout the three-year period, weighted by market shares of each subsidiary, to analyze a company's complaint history. Auto, house (including renters and condo), and life insurance ratios are all calculated independently.