Life Insurance: Haven Life's Nyc-Based Policies Explained

Haven Life Insurance Agency, LLC is headquartered in New York, NY, and offers term life insurance coverage issued by MassMutual, one of the country's oldest insurers, or its subsidiary C.M. Life. Haven Life offers an easy, affordable, and dependable way to buy high-quality term life insurance online. The company was founded in 2014 and announced in late 2023 that it was ceasing new business. Haven Life is no longer accepting new applications, but existing policies will continue to be administered and serviced by MassMutual.

Haven Life is no longer accepting new 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, without the need for a medical exam. Haven Term policies could also be applied for online, but some applicants were required to undergo a medical exam prior to approval. Haven Life's policies offered a guaranteed, tax-free death benefit, payable to beneficiaries in a lump sum.

While Haven Life is no longer accepting new applications, existing policies will continue to be administered and serviced by MassMutual. Customers can rest assured that there will be no changes to their current policies, which are issued by either MassMutual or its subsidiary, C.M. Life.

For those seeking information about insurance and protection products, MassMutual's website provides additional resources and details. The company continues to offer its own life insurance products, and customers can contact them through their website or social media platforms, including Facebook, Instagram, and YouTube.

Haven Life's decision to cease new business marks the end of a chapter for the company, which had received positive reviews and recognition for its innovative approach to life insurance.

Haven Life Plus services

Haven Life Plus is a rider (or bonus feature) included in the Haven Term policy that offers access to additional benefits and services at no cost or at a discount. The rider is not available in every state, including Florida, New York, North Dakota, South Dakota, and Washington.

Aaptiv

An annual subscription to the award-winning fitness app Aaptiv, which offers thousands of on-demand workouts and access to a supportive community group. The app is usually priced at $99 per year.

MinuteClinic

An annual 15% discount on any family health service with MinuteClinic, a walk-in clinic that offers a wide array of health services at 40% less the cost of urgent care. Scheduled appointments are not required.

LifeSite

A no-cost subscription for up to five family members to LifeSite, an online vault for storing and sharing important family documents. A subscription to LifeSite usually costs $80.

TimeShifter

A year of unlimited jet lag management plans from TimeShifter, an app that uses your unique circadian rhythm to help alleviate jet lag symptoms. This service typically costs $24.99 per year.

Trust & Will

An estate plan (trust or will) and a year of unlimited updates from Trust & Will, usually valued at $699.

Lantern

End-of-life planning via a full pre-plan premium membership from Lantern, including 1-on-1 post-loss consultation. This service is normally priced at $149.

Haven Life customer reviews

Haven Life is no longer accepting new customers for its life insurance products. However, here is an aggregation of customer reviews from before this change:

Haven Life offered a seamless application experience and same-day approval process for its term life insurance policies. The company's website was easy to navigate, and customers could apply for coverage without having to connect with an insurance agent. Haven Life's term policies were also backed by MassMutual, which has a superior ability to pay claims and honour its insurance-related obligations.

Haven Life's customer support was available via online chat, which is unusual in the life insurance business. The company also offered competitive rates, particularly for young, healthy people. One customer review stated that Haven Life was the best choice they made among various agencies, as they did not require a medical exam and offered incredible rates. Another review praised the company's great customer service and competitive rates.

However, Haven Life only offered term life insurance, and these policies could not be converted to permanent insurance. The company also had a low maximum issue age for term policies, and some customers were required to take a medical exam, which led to slightly higher rates. One customer review mentioned that they were quoted a ridiculously high rate, presumably due to an error in their application. Another review criticised the company's slow approval process, stating that it took over three months to get approved.

Haven Life's online calculator

Haven Life is a customer-centric life insurance agency that offers an easy way to digitally purchase a dependable and affordable term life insurance policy. The company was founded in 2014 and is backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), one of the country's oldest insurers. Haven Life is no longer accepting new applications for its life insurance products, but existing policies will continue to be administered and serviced by MassMutual.

The calculator is designed to be user-friendly and straightforward, allowing individuals to input their information and receive a quote within minutes. It asks a series of questions to determine the user's needs and provides a customized recommendation based on their unique circumstances. This can include factors such as the user's income, the number of dependents they have, their existing financial obligations, and their future financial goals.

By using Haven Life's online calculator, individuals can gain a better understanding of the type and amount of coverage that may be appropriate for their situation. It helps take the guesswork out of purchasing life insurance by providing a data-driven estimate, ensuring that users can make informed decisions about their financial protection. This tool empowers users to take control of their financial planning and ensure their loved ones are financially protected in the event of their death.

In addition to the online calculator, Haven Life also offers other digital resources and tools to help users navigate the world of life insurance. These resources include educational articles, customer reviews, and step-by-step guides to help users make informed choices and feel confident about their financial decisions. Haven Life's commitment to simplicity and transparency sets it apart in the insurance industry.

Haven Life's parent company, MassMutual

Haven Life is a customer-centric life insurance agency that is backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). Haven Life is no longer accepting new applications and existing policies will continue to be administered and serviced by MassMutual.

MassMutual is one of the country's oldest insurers, founded in 1851, and has more than 170 years of experience. It is rated by A.M. Best Company as A++ for financial strength and claims-paying ability, the highest rating possible. MassMutual has also received other ratings from different agencies. The company has a proven track record of helping people secure their financial future and has established itself as an industry stalwart.

MassMutual's subsidiary, C.M. Life Insurance Company, is also involved in issuing policies for Haven Life. C.M. Life is rated A++ by A.M. Best, the highest rating for financial strength and claims-paying ability. This unique partnership allows Haven Life to provide the personal touch of a startup combined with the stability of an established insurer.

MassMutual's financial stability is one of the most important qualities for a life insurance provider, and it has been recognised by AM Best with its top rating. This indicates that MassMutual has a superior ability to meet its financial obligations, such as paying insurance death benefits. MassMutual's stability is a key factor in Haven Life's ability to stand the test of time as an industry newcomer.

In addition to its financial strength, MassMutual has also received recognition for its ethical practices and commitment to equality. It was recognised as one of the 2021 World's Most Ethical Companies by the Ethisphere Institute and received a 100% rating on the Corporate Equality Index from the Human Rights Campaign in 2021.

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