My Haven Life Insurance Review – Get Covered In Just Minutes!

by Jeff Rose on February 19, 2018 · 0 comments

in Life Insurance Company Reviews

Every year, there are new companies who enter the life insurance market. Not only are there new companies, but there are also new products.

When you’re shopping for life insurance, there are several different factors you’ll need to consider, and hundreds of companies you can choose from. The Internet has completely changed the way that we do just about everything, and buying life insurance is no different.

Life insurance is one of the most important investments that you’ll ever make for your loved ones, and it’s vital that you choose the best plan.

One company you should include in your search is Haven Life.

They have completely changed the way some clients buy life insurance, and they offer several advantages everyone should take note of when shopping for protection.

Who is Haven Life?

haven life insurance logoHaven Life was co-founded by Yaron Ben-Zvi when they were having their first child. They were looking for coverage to protect their family, and while they were going through the process, found they had to wait several weeks to get approved for coverage.

According to their website, they started looking at ways to utilize technology and make the life insurance process as quick and simple as possible, and that’s when they created Haven Life.

Haven Life is under MassMutual, and all of their life insurance policies are backed by the parent company. This means you don’t have to worry about losing your coverage because of a start-up company going bankrupt.

While they are only a couple of years old, being established in 2015, they have already made an impact on how a lot of people buy life insurance. I’m going to take a deeper look at Haven Life, some of the advantages of the company, and help you decide if Haven is going to be the best choice to protect your family.

Remember, because Haven Life is a part of MassMutual, you’ll sleep well knowing that MassMutual holds an “A++” rating from A.M. Best, which is a third-party rating company. A.M. Best looks at a variety of different factors to project the future financial security of a business, and MassMutual holds one of the best possible rates.

Not only do they have a good rating, but they also paid $5 billion in insurance and annuity benefits in 2016.

What’s Different About Haven Life?

What makes Haven Life standout from the rest of the competition? There are a several advantages to Haven Life that can make them a perfect choice for getting coverage.

The most notable benefit to Haven Life is their application process. Instead of having to sit down with a life insurance agent and go through the lengthy process, they have an algorithm which will evaluate your application immediately.

Using Haven Life will save you weeks of time.

With a traditional life insurance plan, you’ll have to wait to schedule the medical exam, wait for the insurance company to get the results, and then for them to run them through their medical underwriting. The process can take anywhere from 4-6 weeks.

If you want to get life insurance much faster, then Haven Life is going to be a much better option.

Obviously, with Haven Life, you won’t have to take a medical exam, but they are still going to view your DMV records, your MIB records, and any prescriptions you’re using or have used recently.

All of these factors are going to impact how much you pay for coverage. In most cases, these no exam policies are going to be drastically higher premiums for the protection.

Because Haven Life specializes in offering no exam plans, they are going to have much lower premiums than other companies. If you’re looking for the cheapest option for a no exam policy, Haven Life is a great place to start your search.

One thing to take note of is not everyone qualifies for their no exam plans.

For some customers, they might require you to take an exam before they give you coverage. If you’re over the age of 45, they might require that you take a medical exam, but if you’re under the age of 45, then you can take advantages of the Haven Life InstantTerm.

This allows you to get approved in a matter of minutes.

Another unique thing, which is a recent update to their product, is how much coverage you can apply for. You can now be approved for up to $2,000,000 in coverage, where it was previously just $1,000,000.

Many people don’t necessarily need a million dollar policy, but some do. The ability to buy this much coverage without an exam is just the cherry on top.

One thing to note, however, is there are additional financial requirements to meet. There is usually a cap on how much coverage you can get based on how much money you make, how much debt you have, or how much of a loss of value you would be responsible for if you passed away.

What does Haven Life Offer?

If you want to get life insurance in 20-minutes, without having to take a medical exam, then Haven Life could be the best choice, but it’s important you find the best type of coverage.

Not every life insurance plan is the same. Every family is different, and everyone has different insurance needs. Before you purchase life insurance, it’s vital you decide which type of plan is going to work best for you.

One of the drawbacks of Haven Life is they only offer term life insurance.

If you’re looking for a permanent form of coverage, like a whole life plan, then you’ll have to look somewhere else.

Whole life insurance policies are an excellent option for anyone who doesn’t want to worry about having to apply for a new plan in the future, but the permanent coverage is going to come at higher costs; that’s why most people purchase term insurance.

Term plans are going to be more affordable.

If you apply for life insurance through Haven Life, you can choose to buy a term plan for a variety of different lengths. Anywhere from 10 years to 30 years. It’s important you find the perfect plan to meet your needs.

Their term plans are level term premiums, which means the rates of the plan are never going to go up. Regardless of how long the term policy is, you’re going to pay the same amount from day one until the last day of the policy.

Estimating Your Rate

One neat feature of Haven Life is their “Estimate Your Rate” page on the website.

As you can probably guess, this allows you to get a rough idea of how much you’re going to pay for your plan if you choose Haven Life.

They will ask a few simple questions, like:

  • your age
  • gender
  • if you smoke

Based on those facts, they are going to show you how much you’ll pay for your life insurance plan. Additionally, they can also help you calculate how much life insurance that you would need.

While the numbers that they provide are only estimates, they are close estimates, and it’s a nice way to get a ballpark figure of what you’ll pay with Haven Life.

Because you never know what’s going to happen tomorrow, you shouldn’t wait any longer to get the perfect life insurance policy in place, and Haven Life leaves you no excuses to put it off any longer. You can apply for coverage on your tablet and be approved for life insurance in a matter of minutes. Haven Life’s policy are effective from day one.

If you have any questions about Haven Life or other options for life insurance, feel free to contact me. I would love to answer those questions and help you get the perfect plan for you and your family.

{ 0 comments… add one now }

Leave a Comment

Previous post: