One company that has taken the normal life insurance application and turned it on its head is – Haven Life.
Do you remember the days of no internet? No 2-day shipping, streaming videos, and having to go to a brick and mortar store to buy everything you need?
Those days are gone. LONG gone.
Now, you can buy everything you need without having to leave the comfort of your couch. Not only can you do your grocery shopping online, but you can also purchase life insurance.
Once upon a time, buying life insurance required you to go to an insurance office, answer a LONG list of questions, and then wait, and wait, and wait.
With some companies, like Haven Life, all you have to do is make a few mouse clicks, and you can have life insurance in less than two days! Would you rather wait a month for coverage or be protected in days?
The choice seems obvious. If you want life insurance online, you still need to make some key decisions, like which carrier to choose.
Haven Life Company Background
Haven Life has an interesting backstory. The idea of the company began after the carrier had to wait over a month to get life insurance. He thought it was crazy you had to wait so long to protect your family, and he started thinking of a better way.
Haven Life isn’t a new company who is standing alone. They are owned and backed by Massachusetts Mutual Life Insurance Company (also known as MassMutual). This means you don’t have to worry about some new startup insurance company going bankrupt after you purchase a policy.
To fully understand Haven Life, you also have to understand MassMutual. MassMutual has been around for over a 100 years. Haven Life might be new, but MassMutual is far from it.
Haven Life – Grades And Rates
The best way to know the stability and the future of a company is be relying on the services of others. You don’t have to be able to predict the future or comb through annual statements. All you have to do is see the grades from third-party investigators.
Because Haven Life is a part of MassMutual, you actually need to look at the grades of the parent company.
- A.M. Best: A++
- Stand & Poor’s: AA+ (second best grade)
- Moody’s: Aa2 (third best rate)
- Fitch: AA+ (second best grade)
You don’t have to know all of the algorithms or scales to know these are good grades. All of the reviews point towards a good financial future for MassMutual.
Haven Life Insurance Products
Haven Life believes in doing one thing and doing it well. You aren’t going to be overwhelmed with choices. You can buy term life insurance, and that’s it.
Haven Life sells level term plans. The premiums will stay level until it expires.
They sell policies in 10 years, 15, 20, and 30 (as long as you’re under 50). Also, you can renew your plan after the term is over if you’re under 65. If you decide to renew your Haven Life policy, the premiums are going to be recalculated.
Now, let’s talk about how you apply for those plans.
They have made the whole process as fast as they could. They did this by taking A LOT of data and creating an algorithm which can evaluate the risk of each application.
You answer all of their questions about your health, and you can get an almost instant answer. Depending on your health and age, you don’t have to take a medical exam. For most people, as long as you don’t have any serious problems and you’re under 45, you can skip the exam.
If you have to take the medical exam, they are going to give you life insurance coverage BEFORE you take the exam. If you decide you don’t want the policy after you take the exam, they will refund the premiums you paid.
Now, let’s talk coverage limits. Another key factor of Haven Life is HOW MUCH life insurance they let you buy online. They are one of the rare carriers which let you buy up to $2,000,000 life insurance online.
Haven Life Plus
Haven Life has been known for providing quality and affordable no exam coverage. They are a new company, but they have changed the way customers are buying life insurance.
Now, they are continuing to revolutionize life insurance. They are now offering a new rider, Haven Life Plus.
Haven Life Plus wants to do more than just beef up your life insurance. According to the Haven Life website, the goal of the rider is to help policyholders “live healthily, live fully and live protected.”
If you buy a plan from Haven Life, the rider is going to be included in the cost of the coverage. Haven Life Plus is unlike any other rider from other carriers.
Policyholders will have access to services from Trust & Will, which lets customers create legal wills and health care power of attorneys. With Haven Life Plus, you can get this for free, which is typically valued at $129.
Also, any Haven Life customer can take advantage of LifeSite, which is an “online safe deposit box.” LifeSite usually costs $80 a year, but Haven Life customers get it for free. This lets you share the documents in a secure place.
One of the most exciting advantages of Haven Life Plus is the TeloYears service. TeloYears is a “telomere health tracking program”, they will analyze your “telomere length reported as the age of your cells.” This is all a fancy way of saying it’s a DNA health test which allows you to see some of the factors in your life which you can improve to increase your health and life. Instead of paying the traditional $99, you’ll only pay $30.
That’s not all Haven Life Plus members get.
You’ll also enjoy a 15% discount when going to CVS MinuteClinics. If you’re unfamiliar with CVS MinuteClinic, they are in CVS Pharmacies and Target stores and offer a lot of essential health services. You don’t need an appointment and they are open every day, which makes them an excellent choice on days when your normal doctor is closed.
Last but not least, Haven Life Plus also includes a LinkLink subscription. LifeLink is a secure way to get in touch with 9-1-1 regardless of where you are. You can get in touch with any emergency service with one button. Additionally, as soon as the emergency phone call is over, your emergency contacts will be notified.
If you’ve ever shopped for life insurance, you know how frustrating it can be. You go to a company website, you see some random quotes, but the rate you get is NOTHING like those quotes.
Haven Life will give you Real Quotes after you answer a few questions. You can get some actual quotes with no obligation to buy the policy.
Some companies have dozens of raiders, but not Haven Life. Just like with their plan options, they don’t offer tons of riders. They give you two choices for additional protection.
Terminal Illness Rider
If you’re ever diagnosed with a terminal illness, and you’re only given 12 months or less to live, then you can get a part of your payout early. Hopefully, you never need this protection, but it’s there just in case.
Waiver of Premium Rider
If you become disabled, you may not have the income you need to pay for life insurance. Your family shouldn’t have to go without coverage. This is where waiver of premium rider comes in.
What Makes Haven Life Different
As you can tell, Haven Life is not your standard life insurance company. You don’t have to talk to an agent on the phone, you don’t have to sit around waiting a month to get your plan.
Haven Life knows everything is moving towards the digital age, and they are capitalizing on this.
They have a strong belief about not waiting for coverage. Do you think Haven Life is right for you?
Do you want to get life insurance quickly? Do you want to avoid all the waiting and not have to take a medical exam? If so, then Haven Life could be the perfect option.
There are a lot of no exam life insurance policies out there. They aren’t all the same.
Haven Life has spent years perfecting their algorithm and their policies. This has allowed them to provide the cheapest no exam coverage.
As long as you don’t have any health problems (like diabetes), then Haven Life can be a convenient and affordable choice.
If Not Haven Life, Then Who?
Maybe you love the idea of buying life insurance online. Maybe you don’t.
If you would rather go with a more traditional route, that’s okay.
There are all kinds of carriers and plans. If you want some help sifting through all of them are comparing them head-to-head, let us know.
We can quickly give you rates and plans. All you have to do is fill out the form or contact our agents over the phone.