Haven Life Insurance Review for Seniors in 2022

Written by Kim Wilhelm

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Last Updated 14 Jun 2024

Haven Life is a digital insurance agency that was founded in 2014. The insurer is headquartered in New York City as Haven Life Insurance Agency, LLC. Its goal is to offer an easy and affordable solution to complicated life insurance shopping many struggle with.

In this Haven Life insurance review, you’ll learn more about Haven Life products and whether they’re the right fit for you.

Haven Life Life Insurance Products

Haven Life offers term life insurance products, which are issued by Mass Mutual Life Insurance Company, more commonly known as MassMutual and C.M. Life Insurance Company, which is a subsidiary of MassMutual. 

There are three term life products to choose from:

  • Haven Term
  • Haven Simple
  • Haven Secure

The insurance agency also has disability, salary protection coverage, and a deferred income annuity.

Haven Term

Haven Term is Haven Life’s medically underwritten term life insurance policy. It’s offered nationwide with features like paperless processing, level premiums, an accelerated death benefit, and a free look period of 10 days after the policy is issued. If you no longer want the policy, you can get a full refund and cancel it.

Haven Term highlights:

  • Age: 18 to 64
  • Coverage: $100,000 to $3 million
  • Terms available: 10, 15, 20, 25, and 30 years
  • Medical exam: Likely

Policyholders not living in Florida, New York, North Dakota, South Dakota, and Washington will have the Haven Life Plus rider added to their policy. It offers bonuses like free trust and will services, an end-of-life planner, fitness app, travel plan to ease jet lag, and more.

Haven Simple

For those who prefer term life coverage without a medical exam, there’s Haven Simple. This policy is a simplified issue term life policy issued by C.M. Life. It is not available in California, Delaware, North Dakota, South Dakota, or New York.

Haven Simple highlights:

  • Age: 20 to 55
  • Coverage: $25,000 to $500,000
  • Terms available: 10, 15, and 20 years
  • Medical exam: No

As you can see, only adults up to age 55 can apply and the maximum term limit is 20 years. Although you can apply for as little as $25,000, Haven Simple maxes out at $500,000, so may not be the best option if you need more coverage.

Haven Secure

The Haven Secure policy is an income replacing decreasing term issued by C.M. Life. Instead of applying for a lump sum, instead, you apply for a monthly amount to replace income or to pay an expense, such as a mortgage. 

Here’s how it works: you pay the policy premium until death. Once the claim is approved, the policy is paid in full and Haven pays the monthly amount to your beneficiary. You can also choose a lump sum option, similar to a standard term life policy.

Haven Secure highlights:

  • Age: 18 to 60
  • Coverage: $1,000 minimum to $8,000 maximum monthly payment
  • Terms available: 10, 15, 20, and 30 years
  • Medical exam: No


The AgeUp deferred income annuity is issued by MassMutual. Unlike a life insurance policy, which provides a lump sum to the beneficiary when the insured dies, an annuity pays a living benefit to the annuitant while still alive.

Deferral payments cannot begin before age 91, and can begin as late as age 100. You can choose to have a death benefit paid prior to the annuity date, which would return payments made to the beneficiary if you die prior to the annuity date.

If you wish to be the owner and annuitant, the minimum issue age is 50. If you only want to be the owner but have someone else as the annuitant, or beneficiary, you can get it as young as 18. The maximum issue age is 75.

Click here to learn about the best life insurance for seniors over 75.

You can make monthly payments between $25 to $250, depending on how much you want paid out in the future. Payments cannot exceed $6,000 per contract year or $150,000 total for the life of the annuity.

Haven Life Life Insurance For Seniors

Haven Life has limited life insurance for seniors options. The maximum issue age for Haven term life insurance is 64, so if you’re older than that, you won’t qualify for any Haven Life insurance products.

Although seniors aged 50 and older qualify for AgeUp, you can’t access the money until age 91. With an average mortality age of 79, many God fearing Americans won’t live to see 80, much less 91. 

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Does Haven Life Insurance Offer Final Expense Insurance?

No, Haven Life does not offer final expense insurance, it only offers term life insurance. Seniors over 50 can apply for up to 20 years in term life insurance with Haven Life.

While term life insurance is cheaper than final expense insurance, it has an expiration date. If you live longer than your term life policy, you won’t get your premiums back and your beneficiary won’t receive the death benefit

And your odds of living beyond 70 if you’re 50 and buying a 20-year term policy are pretty good, unless you have serious health issues.

Haven Life Insurance Burial Insurance

Haven Life doesn’t offer burial insurance, another name for final expense insurance. If you buy Haven term life insurance, your beneficiary can use the payout to pay for your final expenses. 

But what happens if you outlive your Haven Life term policy? You’re out all the payments you made to Haven Life and now you don’t have any life insurance coverage. If you were to die the day after your Haven Life insurance policy ends, your beneficiary would receive $0.

That’s why we always recommend permanent life insurance for burial insurance. You get to keep it for life, your rates never increase, and your beneficiary will receive the funds they need to give you the burial you deserve once the Good Lord calls you home.

Haven Life Insurance Funeral Insurance

Haven Life doesn’t offer funeral insurance, which is the same as final expense and burial insurance. The median cost for a basic funeral with viewing is almost $9,000, and most God fearing Americans can’t afford to pay a funeral in full.

How would your loved ones deal with the financial burden of paying for your funeral? Final expense insurance is one solution. It could take years to save up $9,000, and by then, the cost of inflation will have increased the median cost of a funeral, as these costs are tied to inflation.

Why not spend just a little bit each month to get a final expense policy in place? You’ll be able to sleep at night knowing that even if the Good Lord takes you the following day, your loved ones can pay for your funeral and other final expenses.

Haven Life Insurance Costs

The cost of Haven term life insurance depends on your age, state, coverage amount, and how many years of coverage you want. The more coverage you choose and the longer the term, the more you’ll pay each month for Haven life insurance.

One disadvantage to final expense insurance is that you can only get smaller coverage amounts. Most companies max out coverage at $20,000, while others will offer up to $40,000 in funeral insurance. 

For most seniors, these amounts are more than enough to cover end-of-life expenses. But if you need more coverage for things like paying off debts, you may need more coverage.

If you’re young and healthy enough, you may benefit from a Haven life term policy and could get a decent rate. For example, a 60-year-old male in good health who doesn’t smoke can get a $100,000 20-year term life policy for around $120 per month with Haven Term. They might have to take a medical exam, which could increase the rate.

With final expense insurance, you don’t have to complete a medical exam. Depending on the policy, you’ll answer a few health questions and get a rate based on your answers.

A Hybrid Solution

If you need more coverage than what final expense insurance offers, we recommend buying two policies. A term policy is an affordable way to pay off debts if you were to pass away, as long as those debts would be paid in full by the time the policy expires.

A final expense policy would pay for those permanent needs, like paying for a funeral. You’ll be able to get a smaller amount, which is more affordable, and you can keep it for life.

If you’re ready to get a quote for final expense insurance, Final Expense Direct agents are ready and waiting for your call. Most of the people who call in get approved right over the phone, and have a policy in place before hanging up the phone. We make it easy for you to get peace of mind and an affordable final expense life insurance policy.

Haven Life Insurance Reviews and Ratings

If you’re interested in buying Haven term life insurance, checking out Haven life insurance reviews and ratings can help you decide if they’re the right carrier for you. 

Haven Life Insurance Reviews and Ratings: Google

With 244 Google reviews, Haven Life has 4.5 out of 5 stars. Consumers note that the company is easy to work with, rates are often cheaper than other carriers, and that staff is professional and handles their issues with ease. 

Haven Life Insurance Reviews and Ratings: Trustpilot

Haven Life insurance reviews with Trustpilot are overwhelmingly positive. The insurer has 4.8 out of 5 stars after 1,054 reviews, with 85% of respondents listing Haven Life as excellent. Poor and bad reviews make up less than 1%, citing terrible customer service, not honoring their referral system, and long time spent on the application process.

Haven Life Insurance Reviews and Ratings: BBB

Haven Life has an A+ rating with the Better Business Bureau and has been accredited since 2016. The company has had zero complaints in the last 3 years, which is excellent for an insurance company. However, there are two 1-star reviews, giving the carrier 1 out of 5 stars with the BBB. 

One review expresses frustration at not receiving an email confirmation after applying for coverage. Though Haven Life responded that a member of the Customer Success team will reach out, there is no resolution on the BBB website. The other review is a privacy concern. They denied the individual coverage without a reason and the company seemingly refused to remove his information from their system, even after being bounced around through several departments within the company.

Haven Life AM Best Rating

As an insurance intermediary, Haven Life doesn’t have its own AM Best rating. The issuing life insurance company, MassMutual, does. MassMutual’s AM Best Rating is A++, or superior, which is the highest financial strength rating available. If you purchase a MassMutual life insurance policy through Haven Life, the carrier has the financial backing to fulfill their obligations to pay out claims.

Haven Life Insurance NAIC Complaint Index

Haven Life also doesn’t have its own NAIC complaint index, but MassMutual does. The National Association of Insurance Commissioners complaint index report shows how insurance companies compare to others in the complaint department. With a national complaint index of 1.00, MassMutual comes in at just 0.04. This means that compared to other life insurance companies, MassMutual has hardly any complaints.

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Haven Life may be a good option for term life insurance for seniors up to age 64, but does not offer any form of final expense insurance or permanent life insurance. Seniors in good health may want to take advantage of low term rates if they have a large need for life insurance and purchase a smaller final expense policy to pay for their end-of-life and funeral needs after the Haven Life policy expires. Contact Final Expense Direct today to get a life insurance for seniors quote from one of many final expense companies we partner with.

Frequently Asked Questions

Does Haven Life Insurance Pay Out?

Yes, Haven Life tries to pay all claims within 24 hours of receipt, after they have been qualified and confirmed. The beneficiary on the policy will receive a lump sum amount, which is usually distributed tax free.

Is Haven Life Convertible?

No, Haven Life policies are not convertible. Term life policies are only convertible if the same company offers a permanent policy option, which Haven Life does not. 

Can You Have Multiple Life Insurance Policies?

Yes, you can have multiple life insurance policies. In fact, having more than one life insurance policy is a great strategy if you have large insurance needs, like being the breadwinner for your family. You can buy a cheaper term life policy to pay for temporary needs and a smaller permanent life policy to pay for permanent needs, like a funeral.

How Do I Cancel Haven Life?

To cancel your Haven life policy, contact customer service at 1-855-744-2836 on weekdays from 9AM to 6PM Eastern Time. 

Does Haven Life Require Medical Exams?

In some instances, Haven Life does require medical exams. If you apply for Haven Term, you’ll probably have to complete a medical exam, unless you’re under 59 and apply for less than $1 million in coverage. In that case, if you’re healthy, you might not have to do the medical exam. If you qualify for Haven Simple, you’ll have to answer health questions on the application, but you won’t have to take the medical exam.


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