Haven Life Insurance Review [2024]

More than 80% of American families have some sort of life insurance coverage. Why? Because it provides vital financial security if a breadwinner passes away.

There are lots of life insurance providers to choose from. Some prioritize convenience, making it super easy to apply online. Others offer security through their high financial ratings. 

And then there’s Haven Life, which offers convenience and security in a single package.

In this Haven Life insurance review, I’ll tell you what types of policies are available.

I’ll also explain exactly how to apply. And trust me – it’s even easier than you’d imagine!

What is Haven Life Insurance?

Haven Life offers affordable life insurance policies that are easy to apply for online. The coverage is backed by MassMutual, one of the country’s most reputable insurance providers, or its subsidiary, C.M. Life.

So, with Haven Life, you get both the convenience of a digital application process and the security of working with reputable providers.

Haven Life offers two categories of life Insurance:

• Haven Term. You can get up to $3 million in coverage. Policies are available with terms of 10, 15, 20, 25, and 30 years. U.S. residents up to age 64 are eligible. And, to give you an idea of pricing, a 35-year-old woman could get $500k of coverage for 20 years, and she would pay $17.50 per month. A medical exam is usually required. 

• Haven Simple. You can get up to $1 million in coverage. Eligibility is limited to ages 20-55, and the term options are 5, 10, 15, and 20 years. A 35-year-old woman would pay $24.31 per month for $500k of coverage for 20 years. No medical exam is required. Haven Simple is not available in Delaware, South Dakota, North Dakota, or New York.

Both Haven Term and Haven Simple are term life insurance. That means your policy won’t last your entire life, but only as long as the term you’ve chosen. 

Unfortunately, Haven Life doesn’t offer permanent or whole-life insurance.

How Does Haven Life Insurance Work?

In this part of the Haven Life insurance review, I’ll walk you through the application process.

Before applying, you can get an estimated monthly premium. Just go to the official Haven Life website and click “Check your price.” From there, select your home state, answer some basic questions about your health, and select your term length and coverage amount. Just like that, Haven Life will show you how much you’re likely to pay each month.

Of course, this quote is just an estimate. To actually get coverage, you’ll have to send in a complete application. Luckily, you can do it online – so it’s still really convenient.

If you like the quote you were given, you can simply click “Apply now” on the very same page. You’ll be prompted to create a Haven Life account, and you can complete your application from there.

But you don’t have to apply for the exact policy you were quoted for. 

Remember, Haven Life offers two categories of life insurance – Haven Term and Haven Simple. So even if you were quoted for Haven Simple, you might decide you’d rather have Haven Term. It could be cheaper, and, in some states, it comes with access to the “Haven Plus” rider.  

Intrigued? 

Then, on the same page where you see your Haven Simple quote, click “Apply now for Haven Term,” which appears beneath the heading “Are there other options?”

Just remember that with Haven Term, you might have to take a medical exam.

The online application for Haven Life insurance takes, on average, just 25 minutes to complete. All Haven Simple applicants and some Haven Term applicants get a response immediately, and you should be able to start your coverage the same day you apply.

And even if you need a medical exam as a Haven Term applicant, don’t sweat it – this isn’t some massive undertaking we’re talking about. It should only take 20 minutes, and you can even do it from home. A lab will look over the results, and you can expect an offer from Haven Life within 7-10 days.

Is Haven Life Insurance Legit?

Haven Life is a totally legitimate insurance provider. It’s a subsidiary of MassMutual, one of the oldest and most reputable insurance carriers in the United States. 

When you get life insurance through Haven Life, the actual coverage will be provided by MassMutual or its subsidiary, C.M. Life. 

And is MassMutual trustworthy? Yes! I mean, just look at these credentials:

• MassMutual paid out $6.2 billion in insurance and annuities in 2020. That’s a lot of money, but MassMutual has the financial heft to fork it over.
• The credit rating agency A.M. Best gives MassMutual an A++ grade for financial health and the ability to pay claims. 
• MassMutual is a massive company with over 1,000 employees. 

That’s about as legit an insurance carrier as you’re ever going to find!

Is Haven Life Insurance Safe? 

Doing business with Haven Life is completely safe. 

I know sending your personal health information to a massive company can be nerve-wracking. But in this case, you really don’t have anything to worry about.

Haven Life gets an A+ rating from the Better Business Bureau (BBB), an organization that goes above and beyond to determine whether businesses are trustworthy.

And on Trustpilot, one of the internet’s most popular review sites, users give Haven Life an average of 4.6 stars. Is that perfect? Not quite, but it’s way higher than what you’d see if Haven Life were betraying people’s trust on a regular basis.

Pros and Cons of Haven Life Insurance 

Where does Haven Life exceed expectations – and where does it fall short? This Haven Life insurance review lays it all out for you.

Pros

• The coverage has a lot of financial security. When you get insurance through Haven Life, your coverage is backed by MassMutual – which is a massive company in excellent financial shape.
• You can apply online. And if you’re applying for Haven Simple, you won’t even need to do a medical exam.
• Terms are available from 5-30 years. That gives you a lot of flexibility to get the coverage that matches your needs. 

Cons

• There’s no permanent or whole-life insurance. With Haven Life, term life insurance is the only option. 
•  Medical exams are sometimes required. If you want a Haven Term plan (as opposed to a Haven Simple plan), you could have to take an at-home exam and then wait 7-10 days to get your offer.
• There are strict age limits. You can only get Haven Term up to age 64, and Haven Simple is limited to people 55 and under. 

Haven Life Insurance Reviews

Haven Life has 4.6 stars on Trustpilot, which is a pretty stellar rating. 

In one 5-star Haven Life insurance review, a customer called the application and approval process a “great experience.” 

Another customer laid out a handy list of pros and cons. They appreciated the online application and the immediate coverage, but they were disappointed that their price doubled after their medical exam.

In a 3-star Haven Life insurance review, a customer complained that their final price ended up being higher than their initial quote. I guess it’s worth remembering that the quote is just an estimate, so it’s always subject to change.

And in a rare 1-star Haven Life insurance review, someone said they couldn’t get in touch with customer support. It makes sense that this could be a weak spot for a company that does all of its business online. 

Haven Life Insurance Reviews Reddit

On Reddit, someone recently asked about term life insurance options – and they mentioned Haven Life as one possibility.

One person said it was a “no-brainer” to check the financial strength ratings of the companies involved.

Another Redditor seemed to agree with this suggestion and pointed out that MassMutual (the company behind Haven Life) gets the highest possible rating from A.M. Best.

That same person also said that Haven Life would bring more stability, so it might be the best choice, even if it comes with a higher premium. 

Haven Life Insurance Review BBB?

The Better Business Bureau (BBB) counts Haven Life as an accredited business and gives it an A+ grade. 

There are three customer reviews on the BBB site, and all of them give Haven Life just 1 star. Should you be worried? I don’t think so. People are more likely to post on the BBB site with complaints than with praise.

And if the BBB still trusts Haven Life, you probably can, too. 

Is Haven Life Insurance Worth It?

Haven Life insurance is absolutely worth it for anyone who wants the convenience of an online application process and the security of a trustworthy company like MassMutual. 

With Haven Life, you really do get the best of both worlds:

• Same-day coverage thanks to modern technology.
• The security that comes with a company founded in 1851. Yes, 1851!

Haven Life also offers enough flexibility that you can probably find a policy that meets your expectations. Do you want a shorter term that’s super easy to apply for? Then, use Haven Simple. You can apply online in minutes, and there are 5-year terms available.

Or are you willing to do a medical exam to get even more coverage? Then go for Haven Term. You can get terms up to 30 years, and coverage is available up to $3 million.

Of course, if it’s whole-life insurance you’re after, then Haven Life isn’t an option. But if you want term life insurance from a super reputable provider, then Haven Life is about as good as it gets.

Commonly Asked Questions About Haven Life Insurance

What are Alternatives to Haven Life Insurance?

Haven Life alternatives include:

• Ethos (read full Ethos life insurance review here)
• Ladder (read full Ladder life insurance review here)
• Walnut (read full Walnut life insurance review here)
• Everyday Life (read full Everyday Life insurance review here)
• Fabric (read full Fabric life insurance review here)

Is Haven Life Insurance a Scam? 

Haven Life insurance isn’t a scam. In fact, it’s a subsidiary of MassMutual, one of the most reputable insurance carriers around. How reputable, you say? MassMutual was founded all the way back in 1851, and it has an A++ rating from A.M. Best. So yeah, pretty legit!

What is The Catch With Haven Life Insurance? 

There is no catch with Haven Life insurance. Just know that when you get an online quote, the monthly premium is just an estimate and hasn’t been finalized. That means your actual premium could end up being higher. 

Does Haven Life Insurance Pay Out?

Haven Life insurance absolutely pays out. It’s run by MassMutual, a massive insurance company with an A++ rating from A.M. Best – which means it’s in excellent financial shape. So, this isn’t a company that’s likely to go under before your loved ones file a claim. 

How Long Has Haven Life Insurance Been Around? 

Haven Life was founded in 2014, but its parent company, MassMutual, was founded all the way back in 1851. That’s why Haven Life offers a high-tech life insurance experience, but with the financial security that MassMutual provides.

Who is Haven Life Owned By?

Haven Life is owned by MassMutual, a super reputable insurance company. MassMutual was founded in 1851, and it has an A++ rating from the credit rating agency A.M. Best.