Haven Life Overview
Haven Life Insurance Agency launched in 2015 as a digital-first subsidiary of MassMutual (Massachusetts Mutual Life Insurance Company), one of America’s oldest and most respected life insurers, founded in 1851. Haven Life’s mission was to make buying term life insurance as simple and quick as purchasing anything else online.
Important Update: As of January 2024, Haven Life stopped accepting new applications. Existing policyholders continue to be fully covered and serviced by MassMutual. This review covers what Haven Life offered and what existing policyholders can expect.
Products Offered
Haven Life offered two term life insurance products:
- Haven Term — Medically underwritten coverage up to $3 million, with 10 to 30-year terms, issued by MassMutual or C.M. Life Insurance Company
- Haven Simple — No-exam option with coverage up to $1 million, 5 to 20-year terms, issued by C.M. Life (not available in CA, DE, NY, ND, or SD)
Pricing
Haven Life was known for competitive term life rates. Example pricing for a healthy individual:
| Profile | Policy | Monthly Premium |
|---|---|---|
| 35-year-old male, $250K, 15-year | Haven Term | $10.68 |
| 35-year-old male, $250K, 15-year | Haven Simple | $14.64 |
| 30-year-old male, $500K, 20-year | Haven Term | ~$19.00 |
Premiums were locked in at a level rate for the entire term, providing predictable costs throughout the policy.
Key Features
- Fully Digital Application — Complete the entire process online with instant decisions for many applicants
- Haven Life Plus — A free rider providing living benefits worth up to $700/year, including a digital will, fitness app access, and more (availability varied by state)
- Accelerated Death Benefit — Access a portion of the death benefit if diagnosed with a terminal illness
- Paperless Processing — No paper forms or in-person meetings required
- Free-Look Period — Cancel within 30 days for a full refund
- MassMutual Backing — Policies backed by one of America’s strongest life insurers
Claims and Customer Service
Haven Life earned strong customer satisfaction during its active years, with a Trustpilot rating reflecting positive experiences. Customers praised the easy application process, competitive rates, and quick approvals. Existing policyholders now work directly with MassMutual for claims, policy service, and any questions about their coverage.
MassMutual maintains a COMDEX score of 95 out of 100, placing it among the top-rated life insurers in the country for financial strength.
Pros and Cons
Pros
- Simple, fast online application process
- Competitive term life rates
- Backed by MassMutual’s financial strength (COMDEX 95/100)
- Haven Life Plus rider added real value
- No-exam option available (Haven Simple)
- Quick approval decisions
Cons
- No longer accepting new applications (as of January 2024)
- Limited to term life only — no whole life or permanent options
- Age restrictions applied (up to 64 for Haven Term, 55 for Haven Simple)
- Haven Simple not available in all states
- No riders beyond Haven Life Plus and accelerated death benefit
Alternatives to Consider
Since Haven Life is no longer accepting new applicants, consider these digital-first term life alternatives:
- Ladder Life — Flexible term life with the ability to adjust coverage
- Bestow — Quick online application with no medical exam
- Ethos — Simple digital process with term and whole life options
- MassMutual Direct — Apply directly with Haven Life’s parent company
Our Verdict
Haven Life set a high bar for digital term life insurance, proving that buying life coverage could be simple, affordable, and entirely online. While no longer accepting new customers, existing policyholders benefit from MassMutual’s exceptional financial strength and service. For those seeking similar coverage today, the alternatives listed above carry forward Haven Life’s digital-first philosophy.
InsurePickr Rating: 4.0/5 (accounting for closure to new applicants)
