Haven Life Insurance Review

In the market for term life insurance? Haven Life provides flexible, cheap plans that can be purchased online, and most applicants are covered within minutes of submitting their application. For an insurtech company that operates entirely online, the insurer also offers a wide range of riders and has a stellar reputation for customer service.

For people who have pre-existing health issues, it has tight underwriting rules that may prohibit them from receiving low-cost rates. Compare life insurance companies to see what alternative choices you have, such as perpetual coverage.

Haven Life insurance rates

Haven Life Insurance Review - Haven Life Insurance Logo

In order to estimate the monthly premiums for a $500,000, 20-year term life policy for a man and woman in excellent health, we used example quotations from the Haven Life insurance online quote tool for 2021. The premiums at Haven Life are lower than the industry average for a policy of this size and duration.

  • Age 20. Male $19.76, Female $16.95
  • Age 25. Male $19.76, Female $16.95
  • Age 30. Male $20.19, Female $17.82
  • Age 35. Male $22.34, Female $19.33
  • Age 40. Male $34.59, Female $28.27
  • Age 45. Male $53.99, Female $43.08
  • Age 50. Male $83.54, Female $65.11

Who are eligible for a 20-year term

Haven Life’s quoting procedure revealed that persons over 50 are not eligible for 20-year contracts. Up until they’re 60 years old, most of their rivals let you choose a 20-year term of service. Those over the age of 50 who want coverage that covers them for the rest of their lives will have to shop around.

What affects my rate with Haven Life insurance?

No matter what your Haven Life insurance quotation says, the best approach to receive the lowest insurance rates is to lead a healthy lifestyle. Those with good health and a good family background tend to get the best insurance prices.

  • Blood pressure. Haven Life recommends that your blood pressure be between 90 and 130 mmHg.
  • Cholesterol. When deciding your rate, life insurance companies look at your total cholesterol as well as your good-to-bad cholesterol ratio. While Haven Life’s standards aren’t entirely apparent, a total HDL level of 200 and an HDL ratio of 3.5 are reasonable benchmarks to aim for..
  • History of the family. If no one in your family has died of heart disease, vascular disease, or cancer before the age of 65, you may be eligible for lower rates at Haven Life since your risk level as an applicant is influenced by your family history.
  • Tobacco. If you’ve smoked in the last five years, you won’t qualify for the “Excellent” health category since tobacco and nicotine use have such a negative impact on your general health and life expectancy.
  • Record of a driver’s license. In general, insurance companies anticipate the greatest rates from drivers with clean records who have not committed any big infractions or been arrested for a DUI. In spite of Haven Life’s lack of standards, you’ll have a greater chance of getting cheaper rates if you’ve only had three prior infractions.

How to get a quote from Haven Life insurance

On the insurer’s website, you may request a quotation and apply for coverage.

  1. To begin, click Apply Now on the site.
  2. Choose how much coverage and how long a term you require by answering a few basic questions about your financial situation and life goals. After that, all you have to do is click Calculate.
  3. You’ll be given an idea of how much you’ll pay each month. Click Continue if you’re satisfied with the pricing and want to apply.
  4. Next, enter your email address and pick a password to set up an account. You may begin the application process by creating an account.
  5. A detailed set of questions regarding your health, medical history, way of life, and job are asked in the application.
  6. Click on the Get my decision button once you’ve double-checked your email address.
  7. The majority of those who apply are told right away whether or not they have been accepted. The live chat option allows you to contact a customer service professional at any point during the sign-up process.
  8. Make a monthly auto-payment if accepted so that you don’t forget to pay your premiums.

What info do I need to apply for Haven Life insurance?

You’ll have to give the following information as part of your application:

  • Your contact info
  • Your Social Security number
  • Details about your income
  • Any risky behaviors or hobbies
  • Your family and personal medical history
  • Your beneficiaries
  • Information about how you’ll be paying your premiums

What types of life insurance coverage does Haven Life offer?

Only term life insurance is available with this provider. These policies have periods ranging from ten years to thirty or thirty-five years and cover up to three million dollars. People between the ages of 20 and 64 can purchase policies, but there are age restrictions on how long the policy will last and how much coverage you can get. Haven Life will let you know if they require further information throughout the application process if you don’t have to take a medical test.

You can choose from a wide range of life insurance plans from their parent firm MassMutual if term life insurance is not for you.

What riders can I add to my Haven Life insurance policy?

Add-ons let you tailor your protection to meet your specific needs. Examples include:

  • Accelerated death benefits riders. It is possible to get up to 75% of your death benefit if you have been diagnosed with a terminal medical condition.
  • Rider for the disability income insurance policy. If you become handicapped, this add-on gives out a benefit on top of your regular insurance.
  • Rider for long-term health care. If you’re diagnosed with a chronic illness, you can use the money from your death benefit to pay for care costs thanks to this rider.
  • Premium-rider-returning customers. If you live over the policy’s expiration date, you’ll get a refund on a part of your payments.

Haven Life insurance reviews and complaints

Having been recognized by the BBB since 2016, Haven Life’s customer service scores are a perfect 100 percent. Only a few customers have given the insurance a star rating, with most giving it a one-star rating out of five. Two complaints have been made to the Better Business Bureau in the previous three years, which is not bad for an insurance firm. The firm received an A++ grade from AM Best.

According to approximately 1,000 customer evaluations on TrustPilot, Haven Life has received 4.7 out of 5 stars. Almost all of the TrustPilot reviews mention how easy it was to apply and get approved online, as well as how great it was to work with the company.

As of April 2021, there have been no NAIC complaints filed against Haven Life.

Checkout our review of Guardian Life Insurance Review for another life insurance review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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