Life Insurance

Haven Life Insurance Review

By Peter Mondrose Peter Mondrose is the Head of Insurance Content at Bankovia. He received his degree in Economics in 1998 and a second degree in Journalism in 2004 from the University of Chicago. Most recently he served as Head of Content at QuoteYeti.com, and editor at BusinessPundit.com 5 minute read

What are your objectives in terms of getting a term life insurance policy? Haven Life insurance is simple to acquire online, and the firm insures the great majority of applicants within minutes of receiving their application. An insurtech company that operates entirely online offers a diverse selection of riders and a track record of offering exceptional customer care to its consumers. For additional information, here’s our Haven Life Insurance Review.

Due to the stringent underwriting requirements, individuals with pre-existing health issues may be unable to qualify for low-cost premiums. There are further options to consider, such as permanent life insurance.

Haven Life insurance rates

Haven Life Insurance Review - Haven Life Insurance Logo

Monthly premiums for a $500,000, 20-year term life insurance policy for a man and a woman in perfect health in 2021 were estimated using the Haven Life insurance online quotation tool. Haven Life’s premiums for a policy of this size and duration are cheaper than the industry average for this kind of coverage.

  • Age 20. Male $19.76, Female $16.95
  • Age 25. Male $19.76, Female $16.95
  • Age 30. Male $20.19, Female $17.82
  • Age 35. Male $22.34, Female $19.33
  • Age 40. Male $34.59, Female $28.27
  • Age 45. Male $53.99, Female $43.08
  • Age 50. Male $83.54, Female $65.11

Who are eligible for a 20-year term

Individuals above the age of 50 are not eligible for 20-year contracts, according to Haven Life Insurance‘s quotation procedure. To differentiate themselves from the overwhelming majority of their competitors, they enable you to enroll for a 20-year period of service up to the age of 60. Anyone over the age of 50 should consider long-term care insurance.

What affects my rate with Haven Life insurance?

Maintaining a healthy lifestyle, regardless of what your Haven insurance quotation suggests, is the most efficient way to receive affordable life insurance. Insurance companies usually provide discounted rates to those who lead a healthy lifestyle and have a stable family history.

  • Blood pressure. A good blood pressure range, according to Haven Life, is between 90 to 130 mmHg.
  • Cholesterol. Life insurance companies calculate your premium based on your total cholesterol level and blood cholesterol ratio (the ratio of good to bad cholesterol). However, Haven Life considers a total HDL level of 200 and an HDL ratio of 3.5 to be acceptable requirements.
  • The lineage of the family is described. If you or a family member has a history of heart disease, vascular sickness, or cancer mortality, you may qualify for lower Haven Life rates.
  • Tobacco. Because tobacco and nicotine use have a detrimental effect on overall health and life expectancy, there is no “Excellent” health category for those who have smoked in the past five years.
  • A driver’s license record. If you have an impeccable driving record and have never been arrested for DUI, insurance companies will charge you the highest possible prices to ensure your safety. Despite Haven Life’s lax qualifying rules, you will have a higher chance of earning a cheaper insurance premium if you have only three prior infractions.

How to get a quote from Haven Life insurance

On the insurer’s website, you may obtain a quotation and submit an application for coverage.

  1. To begin the application process, visit the website and click on the Apply Now option.
  2. You may determine the amount and duration of coverage you require by responding to a few straightforward questions about your financial situation and long-term goals. Following that, all that remains is to click the Calculate button to finish the procedure.
  3. Once a month, you will receive a projection of your future debt. If you are okay with the fee and wish to continue with the application, click the Continue button on the right.
  4. Simply enter your e-mail address and a password of your choice to establish a new user account. The procedure begins by creating a user ID and password.
  5. The application will include several questions about your health, medical history, way of life, and location of employment.
  6. After verifying your email address, pick the “Receive my decision” option.
  7. The great majority of candidates receive a response from the institution within a few days after submitting their papers. During the sign-up process, you can contact a customer care person by live chat.
  8. Consider enrolling in a monthly auto-payment plan to ensure that you never miss a payment on your insurance rates.

What info do I need to apply for Haven Life insurance?

To be considered, please supply the following information:

  • Include your contact information, such as your phone number and email address.
  • Your Social Security Number (SSN) is your unique identification number.
    In terms of financial circumstances
  • What harmful hobbies or interests do you regularly engage in?
  • A review of your medical history, as well as your family’s history.
  • As a consequence, you’ll benefit from a variety of benefits.
  • The method through which you want to pay your insurance premiums.

What types of life insurance coverage does Haven Life offer?

This organization is a specialist in term life insurance. These insurance plans provide coverage of up to three million dollars for a period of 10 to thirty or thirty-five years, depending on the policy type chosen. Individuals aged 20 to 64 can get insurance; but, the duration and amount of coverage available to them are limited by their age. If no medical test is necessary, Haven Life will contact you at various times during the application process to get further information.

For people who do not require term life insurance, Massachusetts Mutual’s parent business offers a comprehensive array of life insurance products.

What riders can I add to my Haven Life insurance policy?

Add-ons enable you to tailor your protection to your specific needs. As a starting point, consider the following examples:

  • Riders gain from accelerated death. If an individual is identified as terminally ill, they may be entitled for a death benefit equal to up to 75% of their prior death benefit.
  • A disability income insurance rider is an optional coverage that may be added to a disability income insurance policy. If you become handicapped, this add-on will benefit you much more.
  • Rider provides coverage for long-term health care. If you have been diagnosed with a chronic illness and have acquired this rider, you may be able to use your death benefit to pay for long-term care expenditures.
  • Returning premium-rider consumers. If you continue to live after the expiration date of your insurance coverage, you may be entitled to a partial refund of your premiums.

Haven Life insurance reviews and complaints

Since 2016, when Haven Life was recognized by the Better Business Bureau, we have consistently gotten flawless customer service ratings. The great majority of its consumers and clients give it a one-star rating. There have been only two complaints made with the Better Business Bureau in the preceding three years, which is rather good for an insurance agency. AM Best gave it an A+ + score on a ten-point scale.

TrustPilot customers have given Haven Life a rating of 4.7 out of 5 stars, which is the highest possible rating. Every TrustPilot review notes the simplicity with which one may apply for and be approved online, as well as how pleasant it was to interact with the company and its staff members.

As of April 2021, Haven Life had had no complaints from the National Association of Insurance Commissioners (NAIC).

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