Life Insurance: Haven's Comprehensive Guide To Coverage

Haven Life is a customer-centric life insurance agency that offers an easy, affordable and dependable way to protect your family's future. The company was founded in 2014/2015 to simplify the process of buying life insurance and provide peace of mind to its customers. Haven Life offers two types of term life insurance policies: Haven Simple and Haven Term, with coverage ranging from $25,000 to $3 million and terms from 5 to 30 years. The company also provides disability income insurance and annuities to protect individuals' income and retirement savings. Haven Life's blog covers a range of topics related to life insurance, money, and wellness, with the aim of making life insurance and personal finance decisions simple for its customers.

Annual Report

2022 Annual Report

Each year, Haven Life compiles an Annual Report that celebrates the achievements of its community over the past 12 months. The year 2021 was a rollercoaster, but it was also a year of incredible highs and major milestones for Haven Life's customers. 47% experienced a significant life event, such as donating a kidney, running a half marathon, earning a college scholarship, or adopting senior dogs. In addition, 36% picked up a new hobby, such as fishing, fly fishing, or speaking Italian.

Haven Life's customers also showed their generosity by supporting various charitable causes, with 63% of them donating to organisations like Hope Worldwide, BLM, NAACP, St. Jude's Children's Hospital, and many more. They also shared their plans for 2022, which include sending cards to isolated elderly individuals, opening a community centre, donating blood, and volunteering at camps for children with congenital heart defects.

2019 Annual Report

The 2019 Annual Report showcases the remarkable achievements of Haven Term policyholders. 65.8% learned something new, ranging from painting their nails to solving a Rubik's Cube and writing statistical notation. 50% of policyholders discussed the importance of life insurance with their loved ones, and many shared inspiring stories, such as starting a barbering program for at-risk youth, paying off student loans, or discovering their inner strength while helping their autistic children.

The report also highlights the excitement of policyholders for the upcoming year, with 96.1% looking forward to various goals and experiences, including spending time with family, visiting Scotland, learning to fish, and celebrating milestones like kindergarten graduation.

2018 Annual Report

The 2018 Annual Report reflects on the achievements of Haven Life's customers and the company's commitment to its community. 41.05% helped a partner or someone else obtain life insurance, while 38.42% picked up a new hobby or honed a skill. Additionally, 30.53% maxed out their retirement contributions, and 18.38% made significant progress in paying off student debt.

The report also acknowledges the year as one where MassMutual fulfilled its commitment to Haven Term policyholders by providing support to their loved ones during challenging times.

2017 Annual Report

The 2017 Annual Report celebrates the successes, milestones, and smart financial decisions of Haven Life's policyholders. While one customer even adopted a fish, the report highlights the diverse achievements of its customers.

Leaving a legacy

At Haven Life, we understand that the process of securing life insurance can be complicated and overwhelming. That's why we're committed to making it simple and accessible for everyone. With our easy-to-use online tools and resources, you can estimate the right amount of coverage and select the best term life policy for your needs.

Our term life insurance products, Haven Simple and Haven Term, offer flexible options depending on your age, desired coverage amount, and term length. Haven Simple is ideal for those seeking life insurance without the hassle of a medical exam, while Haven Term provides more comprehensive coverage for a wider age range and includes additional benefits such as the Haven Life Plus rider.

By choosing Haven Life, you can rest assured that you're not just securing your own peace of mind, but also that of your loved ones. Our dependable life insurance coverage at affordable rates ensures that your legacy will be protected and your family's future will be financially secure, no matter what life may bring.

Don't leave your legacy to chance. Take control of your financial future and explore the term life insurance options available through Haven Life. With our simple and transparent process, you can confidently navigate this important aspect of financial planning and leave a meaningful legacy that reflects your values and love for your family.

Holiday travel savings

The holidays are nearly upon us, and that means it's time to start thinking about travel plans. Whether you're planning an international vacation or visiting family, here are some tips to help you save money on your trip.

Book as early as possible

The best way to save money on holiday travel is by making your plans as soon as possible. Flights and hotel rooms fill up quickly, and prices tend to increase the closer you get to the holiday season. So, the earlier you book, the better deal you're likely to get.

Be flexible with your travel dates

If you have some flexibility with your travel plans, you can often find better deals. Adjusting your travel dates by a day or two can sometimes result in significant savings. For example, flying home the Friday or Saturday after Thanksgiving instead of Sunday can save you hundreds of dollars.

Use apps that allow direct booking with the airline

When booking flights, it's recommended to use apps that allow you to book directly with the airline. This ensures that you don't have to deal with a middleman if there are any issues or disruptions with your flight. Google Flights is a great option, as it offers price tracking and alerts to help you book the best fares.

Consider alternative destinations or travel dates

If you're open to changing your travel destination or dates, you can often find lower-cost flights. For example, choosing a ski resort instead of a beach resort or picking a different time of year to travel can result in significant savings.

Take advantage of credit card rewards

If you're not able to book right away, consider using credit card rewards, points, or miles to help cover some of the costs. This can be especially helpful if you're stuck in a situation where prices are higher than expected.

Compare travel insurance options

Travel insurance is important to have, but it doesn't have to break the bank. Compare different providers and policies to find the best value for your needs. Remember to read the fine print and understand what is and isn't covered by the policy.

Investing in your 20s

Why is it important to start investing early?Imagine yourself as a 65-year-old at the end of a long and illustrious career. You’ve contributed to the economy and the workplace, and now you’re ready to spend your golden years travelling, spending time with family, or taking up new hobbies. However, if you began contributing to your retirement plan late, you might not have enough to fund your desired lifestyle. You might have to choose between retiring with a compromised lifestyle or working longer to build your nest egg.

If you start investing in your 20s, you’ll have a much longer timeframe to build up your savings. Your investments will have time to increase in value over the years and decades. This means that investing early can help you reach your investment goals and avoid having to delay your retirement.

Considerations for your investment path

Not everyone follows the same investment strategy, nor should they. Everyone has different objectives and circumstances that impact how much they can invest and which asset classes are most suitable for them. Here are some considerations to help you determine how to invest in your 20s:

Your financial goals

Start by defining your short- and long-term goals. Short-term goals may include establishing an emergency fund or paying off credit card debt, while a long-term goal could be saving for a down payment on a home or retirement. You can set multiple financial goals and develop investment plans to meet each. High-yield savings accounts are an excellent option for building your savings, and if retirement is your main concern, you can invest in your employer’s retirement plan.

It’s important to remember that most investment products don’t guarantee a return. For example, investing in the stock market comes with the risk of losing money. Other investments, like a certificate of deposit (CD), are less risky but may have lower earnings potential. Determine how much you can reasonably afford to invest each month, and remember that you can always increase the amount as your financial circumstances change.

Types of investments to consider

• Employer-sponsored retirement plans: Many organisations offer these plans, which fall into two categories: defined benefit plans and defined contribution plans. Defined benefit plans guarantee a specific payout upon retirement, while defined contribution plans require the employee to contribute a small percentage of their salary, which some employers will match.
• Individual retirement accounts (IRAs): An IRA is another retirement savings plan that you establish yourself, without employer sponsorship. While you won’t get an employer’s matching contribution, there are tax advantages depending on your IRA type.
• Systematic investment plans (SIPs) in mutual funds: SIPs don’t require active management. You make an initial investment that recurs over the long term, purchasing shares in mutual funds. Some SIPs allow investments as low as $5 a week, while others offer more flexible options for monthly, quarterly, or annual contributions.
• Government or corporate bonds: Bonds offer less volatility than stocks and can provide a reliable cash flow and steady rate of return. US Treasury bonds are available for 20- or 30-year terms and can be purchased for as little as $25. Bond funds, which are typically exchange-traded funds (ETFs) or mutual funds, are also a good option and don’t require a significant upfront investment.
• Diversify your portfolio: You don’t have to stick to just one investment option. Consider spreading your money across different types of assets, such as stocks, bonds, commodities, and real estate. Start small and slowly add other investments as you learn more about their benefits and how they can help you reach your investment goals. Diversifying your portfolio can also protect your investments against market fluctuations.

If you’re unsure where to start, consider partnering with a financial advisor. They can help you establish a monthly budget and an investment plan tailored to your financial objectives and risk tolerance.

Life insurance agents

Haven Life is no longer accepting new applications for its life insurance products. However, the information below may be useful for those considering their options.

When deciding whether to work with a life insurance agent, consider your level of comfort and familiarity with insurance policies and the application process. If you feel confident in your understanding and ability to make informed decisions, you may not need an agent. On the other hand, if you feel overwhelmed or uncertain, an agent can provide valuable assistance.

Haven Life offers an online calculator to help estimate the right amount of coverage. This tool can be especially useful for those who don't work with a financial advisor. Additionally, Haven Life provides resources and tips for selecting term life policies, making the process more accessible and straightforward for prospective customers.

It's worth noting that Haven Life has received recognition for its term life insurance solutions, including awards for "Best for Cost," "Best No-Exam," and "Best for Quick Approval." These accolades highlight the company's commitment to providing affordable and efficient services to its customers.

In conclusion, while Haven Life is no longer accepting new applications, life insurance agents can still play a crucial role in helping individuals navigate the complexities of life insurance. For those seeking alternative options, researching and comparing different insurance providers can ensure they find the best fit for their specific needs and circumstances.

Frequently asked questions