- Common prices: $20.72/month for a 35-year-old male non-smoker buying $500,000 in protection for a 20-year time period, $89.92/month for a 35-year-old male smoker buying $500,000 in protection for a 20-year time period.
- Time period life coverage limits: As much as $3 million for Haven Time period Life, as much as $500,000 for Haven Easy.
- Entire life coverage limits: Not obtainable
- Riders/Add-ons: Accelerated loss of life profit, waiver of premium, HavenLife Plus
- Eligibility: As much as age 64 for Haven Time period Life and between ages 20 to 55 for Haven Easy.
- Reductions obtainable: N/A
- Different insurances provided: Incapacity
Table of Contents
High perks
Beneficiant no medical examination choices
Haven Life Easy makes it potential to purchase as much as $500,000 in protection with no medical examination. Many opponents both don’t provide protection choices with out a medical examination or the protection limits are a lot decrease — as little as $25,000.
High-notch customer support
Haven Life is backed by MassMutual, which has greater than 160 years of trade expertise. On J.D. Energy’s 2021 U.S. Particular person Life Insurance coverage Examine, MassMutual earned above-average rankings and was beat by simply six opponents when it comes to its general buyer satisfaction score.
Entry to different companies
Haven Life Plus permits policyholders to entry different companies past life insurance coverage at no added prices. This features a health app providing 1000’s of exercises and music, entry to a program that makes it potential to create a custom-made will or belief that is legally legitimate within the creator’s state, and free use of an app that mixes neuroscience and sleep analysis to assist policyholders keep away from jet lag whereas touring.
What could possibly be improved
Supply extra protection sorts
Haven Life gives solely time period life insurance coverage. Everlasting life insurance coverage insurance policies aren’t provided. Whereas most individuals will do higher with time period life protection, entire life plans make extra sense for folks in sure conditions. This consists of circumstances when protection will all the time be wanted, slightly than required for only a restricted time.
Present convertible coverage choices
Haven Life does not present policyholders with the possibility to make their life insurance coverage convertible from a time period to an entire life coverage if circumstances change. Many opponents do permit this function, which may be invaluable for many who decide they may want ongoing protection slightly than simply safety briefly through the protection interval.
Present extra protection phrases
Haven Life affords as much as 5 totally different protection phrases, whereas some opponents provide extra. For instance, AIG affords 18 totally different choices for time period size affords. Policyholders on the lookout for essentially the most flexibility in how their protection lasts will not discover it with Haven Life.