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At a glance
Bankrate's take
As of January 12, 2024, Haven Life no longer accepts new life insurance applications. Haven Life insurance policies are serviced by its parent company, MassMutual.
Established in 2014 and shuttered in early 2024
Exclusively wrote term policies
No-exam coverage was available in certain states
Active policies and applications with Haven Life will now be handled by MassMutual
New
What’s new with Haven Life?
In November 2023, MassMutual (Haven Life’s parent company) announced it would ‘wind down’ Haven Life, citing “lack of customer adoption” and “high costs associated with customer acquisition” as the primary motivators behind the decision.
Haven Life life insurance review
Haven Life may have been a good life insurance option for those who want to handle their policies digitally or need a no-exam life insurance policy. Launched in 2014, Haven Life was an entirely digital life insurance company. Coverage was available nationwide, although not all policy types were available in each state. Haven Life operated under its parent company, MassMutual. Although Haven Life is closing its doors (it stopped accepting new policies in January 2024), active policies are still in force. If a Haven Life customer needs to change beneficiaries, update an address or file a claim, they may still do so by contacting customer service or visiting Haven Life’s website. Those with a pending Haven Life application had until March 31, 2024, to finalize the process.
Haven Life only offered term life coverage. Depending on the product and your state, policies were underwritten either by MassMutual or C.M. Life Insurance Company, a wholly-owned subsidiary of MassMutual. Haven Life did not offer permanent life insurance options such as whole or universal life insurance, but if you were looking for the best term life insurance available, Haven Life may have been a competitive option.
Our Haven Life insurance review analyzes both types of term life insurance the company offers. If you’re unsure how much life insurance you need or what type of life insurance you’re looking for, you may want to consult our life insurance guide, speak with a licensed insurance agent or speak with a financial expert to help you in the shopping process. A life insurance calculator may also be a helpful tool.
Term:Term life insurance is a type of coverage that lasts for a set period of time. It may be a good fit for families with children or those who only need coverage for a certain window of time, like while paying off a mortgage. Term coverage generally gets more expensive as you get older, so it may not be the best life insurance for seniors. Haven Life offered two types of term life insurance:
Haven Term: This particular term insurance policy generally required applicants to get a medical exam before coverage is approved. It offered up to $3 million in life insurance coverage for U.S. citizens ages 64 and younger. Term lengths were 10, 15, 20, 25 and 30 years, depending on age. Haven Term was available in all states.
Haven Simple: This term life insurance policy did not require a medical exam and offered a death benefit between $25,000 and $1,000,000 (depending on the applicant’s age). Applicants were eligible between the ages of 20 and 55 and could choose between 5-, 10-, 15- and 20-year terms, depending on age. Haven Simple was not available in Delaware, New York, North Dakota or South Dakota.
Haven Life life insurance riders
Life insurance riders are add-ons that could broaden your coverage. Keep in mind that there are different riders for different types of life insurance, and riders will typically increase the cost of your life insurance policy. If you’re shopping for cheap life insurance, adding riders may not be at the top of your to-do list, but weighing the benefits and costs of riders may help you decide if one or multiple could be right for you. Haven Life advertised two life insurance endorsements, but more may have been available depending on your state, policy type and eligibility. If you purchased a Haven Life policy before it shut down with one or more riders, those riders are still active.
Accelerated death benefit: If you have this rider and are diagnosed with a terminal illness, you may be able to access some of your life insurance death benefit while you are still alive. This option is available for Haven Term and Haven Simple policies, but eligibility could vary based on your rating profile.
Haven Life Plus: The Haven Life Plus endorsement is only available for Haven Term policies and isn’t an option for Haven Simple policies. Haven Life Plus offers a host of perks and services, including access to the Aaptiv fitness app, Lantern to document end-of-life wishes and Trust and Will for online estate planning services. Haven Life Plus isn’t available in Florida, New York, North Dakota, South Dakota or Washington.
Haven Life customer satisfaction
If you’re comparing life insurance companies, you may want to look at customer satisfaction. Good life insurance service may help you adjust your policy while living and could make the claim process easier for your beneficiaries after you pass. J.D. Power is a consumer data analytics company that ranks life insurers for overall customer satisfaction. While Haven Life wasn’t directly rated in the 2024 U.S. Individual Life Insurance Study, MassMutual — Haven Life’s parent company — scored above the industry average with an 673/1,000. While the score isn’t the highest on the list, it could indicate that policyholders are generally satisfied with the company’s service. C.M. Life Insurance, which underwrites some of the Haven Simple policies, was not rated by J.D. Power.
Haven Life customer complaints
Reviewing customer complaints is another way to see what kind of service a company provides its customers. The National Association of Insurance Commissioners (NAIC) produces an annual complaint index report to track the amount of complaints an insurance company receives. It uses a baseline score of 1.0, with numbers below the baseline indicating fewer complaints and a score above the baseline indicating higher-than-average complaints.
While Haven Life is not scored by the NAIC, both MassMutual and C.M. Life Insurance have complaint index scores well below the baseline, meaning that the NAIC received fewer complaints than expected for these companies.
MassMutual NAIC Complaint Index life insurance product
Line chart with 3 data points.
The chart has 1 X axis displaying Year. Data ranges from 2021-01-01 00:00:00 to 2023-01-01 00:00:00.
The chart has 1 Y axis displaying Score. Data ranges from 0.02 to 0.11.
End of interactive chart.
C.M. Life Insurance NAIC Complaint Index life insurance product
Line chart with 3 data points.
The chart has 1 X axis displaying Year. Data ranges from 2021-01-01 00:00:00 to 2023-01-01 00:00:00.
The chart has 1 Y axis displaying Score. Data ranges from 0 to 0.77.
End of interactive chart.
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Haven Life life insurance may not be the right fit for every shopper. If, after reading this Haven Life insurance review, you decide to research other companies, you may want to start with some of the comparable companies below.
Haven Life vs. State Farm
State Farm might appeal to you if you prefer to work with a local agent since Haven Life is completely digital. State Farm is our 2025 Bankrate Award winner for Best Term Life Insurer. It offers permanent life insurance options, while Haven Life only offered term coverage. Haven Life’s online quoting and purchase process was more robust than State Farm’s, though, so if you prefer to handle your policies digitally, Haven Life may have been the better option.
Like Haven Life, Ladder exclusively offers term policies through an online interface. Coverage is available for applicants aged 20 to 60, and no-exam policy limits are capped at $3 million. With a medical exam, applicants can get up to $8 million in coverage. Ladder may be a good alternative to Haven Life for those seeking term coverage online. However, Ladder partners with three different companies to underwrite its policies, which may affect policy quality.
If you’re underwhelmed by Haven Life’s sparse policy offerings, you may want to look at Nationwide. Nationwide offers a variety of policy types, multiple riders, several accessibility options and a high J.D. Power score for customer satisfaction. The company also offers numerous banking and insurance products, which might be appealing if you want to keep all your products with one company. On the other hand, the Haven Life Plus endorsement offered a lot of services that Nationwide doesn’t, which may appeal to some shoppers.
The insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers the information they need to make educated decisions when shopping for a policy.
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Was Haven Life a good insurance company?
Haven Life may have been a good choice for you if you were interested in simple term life policies with few customizations. If you currently own a Haven Life policy, you can rest assured that your policy is still valid, and is now under the auspices of Haven Life's parent company, MassMutual.
MassMutual is a well-established company with a more robust range of life insurance and other financial products and good third-party rankings. J.D. Power places it third in the 2024 Customer satisfaction Index. It earned a 2025 Bankrate Award for Best Whole Life Insurer, so could be worth considering if you are looking for a permanent life insurance policy. MassMutual also has the highest possible rating from AM Best, suggesting that the company does a good job of managing its finances and is well able to pay out on all claims for policies owned by Haven Life customers.
What are real-life customers saying about Haven Life?
Because Haven Life is no longer accepting new applications, Haven Life Insurance reviews are of less value. We instead looked at first-hand reviews for MassMutual on discussion forums like Reddit, Quora and TrustPilot. The general consensus we found online was that MassMutual is a trusted name in the life insurance industry, but it may not offer the cheapest term policies.
Reddit user 1
Nov 15, 2023
Not cheap, but worth it
“I have a mass mutual whole life policy. It’s definitely not the most inexpensive option on the market, but it’s worth it. Trust me.”
“Quit worrying about the premium as much as the company behind the policy. Mass Mutual is second to none. Right alongside the other giants, NYL, NW, etc.”
Haven Life was available in all 50 states and Washington D.C. Haven Simplified Term was available in all states except New York, California, Florida, Delaware and South Dakota.
Haven Life tools and benefits
When it was still writing new policies, Haven Life offered these two products in addition to its term life insurance:
Annuities: If you purchased an AgeUp annuity through Haven Life, contact MassMutual.
Disability insurance: If you purchased a disability policy through Haven Life, contact MassMutual.
MassMutual offers a broader range of extras and policy options than Haven Life:
Financial advisors: A MassMutual financial advisor can help you manage your life insurance policy and other financial products.
Mobile app: With MassMutual’s mobile app, policyholders can manage their policies, their premiums, access policy information and more. The app has a 4.6 rating out of 5.0 on the App Store and a 4.4 out of 5.0 on Google Play.
Investment and retirement products: MassMutual may work as a one-stop-shop for a policyholder’s financial needs; it offers annuities, individual retirement accounts, mutual funds and more.
Frequently asked questions about Haven Life
To file a claim with Haven Life, the policy’s beneficiary will need to call 1-855-744-2836 to start the process. To make the situation as easy as possible for your beneficiary, make sure they are aware of what to do ahead of time, know where to find your policy information and can locate your Social Security number. They will also need to provide their relationship to you, your death date and a death certificate during the claims process.
If corporate giveback programs and sustainability play a role in your choices, MassMutual — Haven Life’s parent company — has a lot to offer. According to the company's most recent Sustainability Report, the company is one of the best places to work for disability inclusion with a Disability Equality Index rating of 100 percent, and a Top Charitable Company according to the Boston Business Journal. The company focuses on sustainable investing, with a goal to achieve net zero portfolio emissions by 2050. The MassMutual Foundation was responsible for donations of $26 million to community programs in 2023, including the Fenway Park Learning Lab.
If you purchased a Haven Life policy before the company closed its doors in early 2024, your policy (including riders) is still active and in force. If you applied before the January 12, 2024 shut-down date, your application will still be processed, and you had until March 31, 2024 to finalize the paperwork. Moving forward, all Haven Life insurance policies will be handled by MassMutual, its parent company.
We strive to provide comprehensive reviews for as many companies as possible. However, some insurers do not receive a Bankrate Score. This can occur for a variety of reasons. For example, companies that utilize multiple partners to underwrite and/or issue their policies may present challenges in assessing the individual entity. Additionally, newly established companies may not have financial strength ratings published yet, and, therefore, cannot be compared in terms of overall performance to other insurers. In Haven Life’s case, we did not provide a comprehensive review and, consequently, a Bankrate Score, since they no longer accept new applications.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict
editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Insurance Disclosure
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
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