Haven Life Insurance Review
Haven Life offers term life insurance policies that can be purchased online in a matter of minutes. Some customers may qualify for the InstantTerm process, where they can skip the medical exam.

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What we like:
Strong financial strength ratings from its issuing company, MassMutual
Type of Insurance | Term life insurance |
Age Limits | 18 – 65 |
Coverage | $100,000 – $3 million |
Term Length | 10, 15, 20, or 30 years |
Haven Life claims it is “making life less hard,” and in doing so, making it easier to get life insurance right from your laptop, smartphone, or tablet. The company has been providing customers with term life insurance since 2015. It is backed by MassMutual, one of the largest life insurers in the US.
This Haven Life review will cover the different policies offered, share some pricing examples, walk you through the application process, and more.
In this review:
- Coverage options offered by Haven Life
- How much does Haven Life cost?
- Financial strength & customer ratings
- Eligibility Requirements for Haven Life
- How to receive a quote & apply (with screenshots)
- Pros and cons of Haven Life
Coverage options offered by Haven Life
Haven Life offers two types of term life insurance policies. A simplified policy that can be purchased without the need for a medical exam, or their standard policy that does require a medical exam and offers more coverage.
Haven Term Simplified
The Haven Term Simplified policy includes coverage for $25,000 to $500,000 for US citizens. Customers do not need to take a medical exam to be eligible for this policy. For those between the ages of 18 and 49, you’ll be able to select a term length of 10, 15, 20, or 30 years. For those between the ages of 50 and 65, you’ll be able to select a term length of 10, 15, or 20 years.
Policy riders
The Haven Term Simplified policy includes an accelerated death benefit rider at no additional cost. With this rider, those who become terminally ill will be able to collect a significant portion of their policy’s death benefit while still alive.
Haven Term
The Haven Term policy includes coverage for $100,000 to $3 million for US citizens between the ages of 18 and 59. US citizens between 60 and 64 years old and non-U.S. citizens between 18 and 64 are eligible for this policy, but their coverage will be capped at $1 million.
Available term lengths are 10, 15, 20, or 30 years for both US citizens and non-U.S. citizens, regardless of age.
Policy riders
The Haven Term policy includes three riders and the option to add one more. Theses riders include:
- Haven Life Plus: This rider is included in the policy and offers additional health and wellness benefits that include a yearly subscription to a fitness app, unlimited access to an app for sleep and neuroscience research, 15% off any service at MinuteClinic (the appointment-free health clinic inside most CVS and Target stores), and more.
- Accelerated Death Benefit: This rider is included in the policy and allows those that become terminally ill to receive an advance of their policy’s death benefit while still alive.
- Guaranteed Renewability: This rider is included in the policy and allows customers to renew their policy (at a higher rate) without additional underwriting at the expiration of their level term.
- Waiver of Premium: This rider can be included in the policy at an additional monthly cost for applicants under the age of 50. If the policyholder becomes totally disabled, monthly premiums will be waived.
How much does Haven Life cost?
The cost of a life insurance policy from Haven Life will vary by customer. The factors that can influence the price include the following:
- Gender
- Age
- Nicotine use (learn more about nicotine and life insurance)
- Health
- State of residence
- Coverage amount
- Term Length
Here are some pricing examples for term life insurance policies from Haven Life
Haven Life Simplified
Age | Gender | Face Amount | Term Length | Premium* |
30 years | Male | $100,000 | 30 years | $24.30/month |
30 years | Female | $500,000 | 30 years | $80.50/month |
35 years | Male | $200,000 | 20 years | $31.90/month |
35 years | Female | $300,000 | 20 years | $40.80/month |
40 years | Male | $200,000 | 10 years | $26.90/month |
40 years | Female | $400,000 | 10 years | $41.50/month |
*Premiums are based on standard non-tobacco rates.
Haven Life
Age | Gender | Face Amount | Term Length | Premium* |
27 | Male | $300,000 | 20 years | $22.12/month |
27 | Female | $300,000 | 20 years | $18.04/month |
45 | Male | $1.5 million | 15 years | $139.41/month |
45 | Female | $1.5 million | 15 years | $113.57/month |
50 | Male | $3 million | 10 years | $200.47/month |
50 | Female | $3 million | 10 years | $174.62/month |
*Premiums are based on non-tobacco rates for people in good health.
Financial strength & customer ratings
A reliable indicator of trust for a life insurance provider can come from their financial strength and customer ratings.
Financial strength for MassMutual (issuing company)
Rating Organization | Rating |
A.M. Best | A++ (Superior) |
Fitch | AA+ (Very high credit quality) |
Moody’s | Aa3 (Very high credit quality) |
Standard & Poor’s (S&P) | AA+ (Very strong) |
Accurate as of July 23, 2020.
Customer ratings for Haven Life
Review Platform | Rating |
Consumer Affairs | 4.5 out of 5 |
Google Reviews | 4.7 out of 5 |
Trustpilot TrustScore | 9.5 out of 10 |
Accurate as of July 23, 2020.
Eligibility Requirements for Haven Life
To be eligible for a life insurance policy through Haven Life, you’ll need to be a US resident between the ages of 18 and 64. Each customer goes through a unique underwriting process and may be required to take a medical exam.
Customers must not be active military or enlisting, intending to use the policy for business purposes, or planning to use the policy to replace another policy.
There are also state limitations on specific policies and riders.
Product | What Is It? | States Not Eligible |
Haven Term Simplified | Term life insurance policy with no medical exam | CA, DE, FL, ND, NY, and SD |
Haven Life Plus | A rider that offers health and wellness benefits | FL, ND, NY, SD, and WA |
Waiver of Premium | A rider that waives premiums if the policy owner becomes totally disabled | CA, DC, DE, FL, ND, NY, and SD |
How to receive a quote & apply (with screenshots)
Haven Life makes it easy to receive an online quote. To get started, you’ll need to visit the company’s website and click “Get your quote” on the homepage.
The starting point for receiving your personalized quote
The online quote application can be completed within a minute and doesn’t require you to put in any personal information. As you fill out the form, the prices from real policies on the left will change to show you relevant policies.

See your estimated rate
After you fill out the information on the page shown above and hit calculate, you’ll see your estimated monthly rate based on your health rating.

Apply online and receive your real personalized rate
If you are satisfied with your estimated monthly rate, click the “Get your real rate” button to be taken to the page below. On this page, you’ll see your estimated price, the eligibility requirements, and the information you’ll need to complete the application.

>> Ready to apply? Click here.
Pros and cons of Haven Life
Pros
- With the Haven Life Simplified policy, customers haven ten days to cancel their coverage and receive a full refund
- Some customers will have the ability to secure coverage without the need for a medical exam
- Your monthly premium will remain the same from the first month to the last
- Backed and wholly owned by MassMutual, a leading life insurance issuer
- With Haven Life Plus, you can add riders that include health and wellness subscriptions, an accelerated death benefit, a waiver of premium, and guaranteed renewability
Cons
- Haven Life only offers term life insurance
- Haven Life Simplified and the waiver of premium rider are not available in California, Florida, New York, North Dakota, South Dakota, or Delaware
- Haven Life Plus is not available in Florida, New York, North Dakota, South Dakota, or Washington
- Eligible non-U.S. citizens can only receive coverage up to $1 million
>> Read More: Q&A with Mark Sayre on Haven Life
Where to find Haven Life alternatives
While Haven Life is a good option for term life insurance, it may not be for everyone. One alternative you may want to consider is Ladder. Ladder offers term life insurance with up to $8 million in coverage. To learn more, you can check out our Ladder life insurance review.
To compare other options, check out our top picks in the guides below:
Ready to apply for term life insurance through Haven Life? Check out its website.
Coverage
$100,000 – $3 million
Term Length
10, 15, 20, or 30 years
Age Limits
18 – 64
Author: Jeff Gitlen, CEPF®
