Orlando Harmon
Haven Life Insurance is a digital insurance agency that offers term life insurance and term simplified life insurance. The company was founded in 2014 and is a subsidiary of Massachusetts Mutual Life Insurance Co. (MassMutual). Haven Life offered 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. However, as of late 2023, Haven Life is no longer accepting new customers and is winding down its business. Existing policies will continue to be administered and serviced by MassMutual. Customers can still access their Haven Life accounts through the MassMutual customer login portal.
| Characteristics | Values |
|---|---|
| Website | havenlife.com |
| [email protected] | |
| Phone number | (855) 744-2836 |
| Parent company | MassMutual |
| Types of insurance offered | Term life insurance, term simplified life insurance |
| Number of policies | 2 |
| Policy options | Haven Simple, Haven Term |
| Coverage range | $25,000 to $3 million |
| Term range | 5 to 30 years |
| Age range | 20 to 64 years |
| Medical exam required | Yes for Haven Term, No for Haven Simple |
| Available in | All 50 states and the District of Columbia |
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What You'll Learn
Haven Life is no longer accepting new applications
Haven Life was a digital insurance startup founded in 2014 or 2015 as an offshoot of MassMutual. The company offered two types of term life insurance: Haven Simple and Haven Term. Haven Simple was available to individuals aged 20 to 55, with coverage of up to $1 million for terms of 5, 10, 15, or 20 years. Haven Term was available to individuals up to age 64, with coverage of up to $3 million for terms of 10, 15, 20, 25, or 30 years. Haven Life was known for providing straightforward and cost-effective insurance options, and its policies were available in all 50 states and the District of Columbia.
The decision to stop accepting new applications was made by MassMutual due to challenges similar to those faced by the direct-to-consumer life insurance industry, including a lack of widespread customer adoption and high customer acquisition costs. Despite this, Haven Life has received positive reviews for its simple and peaceful application process, excellent customer service, and financial peace of mind.
For those seeking life insurance, MassMutual, the parent company of Haven Life, is still offering its own life insurance products. Additionally, there are several other life insurance companies in the market, such as Bestow Life, State Farm, Nationwide, Lincoln Financial, and Northwestern Mutual, among others.
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Existing policies are issued by MassMutual and C.M. Life
Haven Life is no longer accepting new applications for its life insurance products. However, existing policies are still in force and will continue to be administered and serviced by MassMutual. This means that if you already have a Haven Life insurance policy, your policy is now with MassMutual, and you can access your account through the MassMutual customer login portal.
MassMutual offers a range of insurance, annuity, and investment products. The company has been in business for over 170 years and is a trusted provider of life insurance. MassMutual offers two main types of life insurance: term and permanent. Term life insurance is for a specific period, such as 10, 20, or 30 years, while permanent life insurance provides a death benefit for life as long as the premiums are paid.
If you have an existing Haven Life insurance policy, your policy is now serviced by MassMutual, and you can access your account through the MassMutual customer login portal. This portal provides convenient access to your policy information and details. To log in, simply visit the MassMutual website and click on the "Customer Login" option. From there, you can enter your login credentials and access your account information.
It's important to note that Haven Life's parent company, MassMutual, is still offering its own life insurance products. So, while Haven Life is no longer accepting new customers, you can explore MassMutual's life insurance options if you're in the market for a new policy. MassMutual has a range of products to choose from, including term and permanent life insurance, and you can learn more about their offerings by visiting their website or contacting a financial professional.
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Haven Life offered two types of term life insurance
Haven Life is no longer accepting new applications for life insurance products. Existing policies, issued by MassMutual and subsidiary C.M. Life, will continue to be administered and serviced by MassMutual.
Before closing applications, Haven Life offered two types of term life insurance: Haven Simple and Haven Term.
Haven Simple policies could be purchased online after answering a short series of questions. No medical exam was required and coverage began as soon as the first payment was approved. Haven Simple offered maximum coverage of $1 million with maximum term limits of 20 years. Haven Simple was designed for individuals aged 20 to 55. Coverage amounts ranged from $25,000 to $1 million for the following terms: 5, 10, 15, and 20 years.
Haven Term policies could also be applied for online, although medical exams were required for some applicants prior to approval. Haven Term offered maximum coverage of $3 million with maximum term limits of 30 years. Haven Term was available to individuals up to age 64 for coverage amounts up to $3 million. Coverage was available for the following terms: 10, 15, 20, 25, and 30 years.
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Haven Life was founded in 2014/2015 as a digital insurance agency
Haven Simple policies could be purchased entirely online after answering a short series of questions. No medical exam was required, and coverage began as soon as the first payment was approved. On the other hand, Haven Term policies could also be applied for online, but some applicants were required to undergo a medical exam before approval. Both Haven Simple and Haven Term offered a guaranteed, tax-free death benefit, payable to beneficiaries in a lump sum, provided that the policy was current and premiums were paid on time.
In terms of coverage limits, Haven Simple offered a maximum coverage of $1 million with term limits of up to 20 years, while Haven Term offered a higher maximum coverage of $3 million and term limits of up to 30 years. Haven Simple was designed for individuals aged 20 to 55, while Haven Term was available to those up to 64 years of age.
Despite its innovative approach, Haven Life faced challenges due to a "lack of consumer adoption" and "high costs associated with customer acquisition." In late 2023, the company announced that it would cease new business, and as of 2024, it is no longer accepting new applications. Existing policies issued by MassMutual and its subsidiary C.M. Life will continue to be administered and serviced by MassMutual.
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Haven Life customers can contact MassMutual with any questions
If you are an existing Haven Life customer, you can access your application and policy through the Haven Life Dashboard. Here, you can manage your insurance, annuities, and investments. To log in, you will need your username and password. If you have forgotten your login credentials, you can follow the password reset instructions on the MassMutual website.
Additionally, you can contact MassMutual by phone or email. Their customer support team is available to answer any questions or concerns you may have regarding your policy. The phone number for MassMutual is 1-800-272-2216. You can also reach them via email at [email protected].
It is important to note that Haven Life and MassMutual are separate entities, and Haven Life customers are not automatically customers of MassMutual. However, as MassMutual is committed to servicing existing Haven Life policies, they can be contacted for any queries or issues regarding your Haven Life insurance plan.
For general inquiries or further information, you can also visit the MassMutual website at www.massmutual.com. Here, you can find resources and learn more about their insurance and protection products.
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Frequently asked questions
No, Haven Life is no longer accepting new applications for insurance. Existing policies will continue to be administered and serviced by MassMutual.
If you have an existing policy with Haven Life, your policy will continue to be serviced by MassMutual. You can access your application and policy through the MassMutual Dashboard.
You can contact Haven Life via email at [email protected] or by calling (855) 744-2836.
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