Haven Life Introduces A Newly Priced Haven Term, Making It More Affordable For Families To Help Financially Protect Their Loved Ones
With its new rates, Haven Term premiums now cost significantly less, for just about everyone - and customers can even try it out for 30 days at no obligation
NEW YORK, June 30, 2021 /PRNewswire/ -- Haven Life, the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is today unveiling new pricing for the medically underwritten term product, Haven Term, that makes it even more affordable for you to financially protect your loved ones.
With an online application process that takes only minutes to complete, you can enjoy even greater peace of mind knowing that Haven Term is now significantly more affordable for eligible individuals, including those under the age of 45 and living in states other than California, Delaware, Florida, New York, North Dakota and South Dakota. Haven Term continues to be issued by one of the country's oldest and most reliable insurers, MassMutual, and its subsidiary, C.M. Life.
"Haven Life has been a leader in insurtech for six years now. During this time, we've streamlined our business while relentlessly focusing on making the life insurance experience as simple as possible," said Yaron Ben-Zvi, Haven Life's co-founder and CEO. "We're proud to announce this change for Haven Term, since it will help make life insurance more modern, accessible and — most of all — affordable."
As an example of the new pricing, a 35-year-old woman in excellent health may qualify for a 20-year, $500,000 policy for a monthly premium of only $17.50.
In addition to more affordable rates, Haven Term is introducing improvements that make the life insurance experience more simple:
- Extended free-look period: New policyholders will now have up to 30 days to cancel their policy at no obligation or cost to them.
- Streamlined application: We've improved our already outstanding application experience to be even more simple and yes, even more beautifully designed. Applicants still receive an instant decision on their eligibility, and if a medical exam is needed, the customer may take it at a time and location that's convenient.1
- New 25-year term length: To give customers more choices, Haven Term now includes a 25-year term length option for coverage.
- Convenient payment options (coming soon): Policyholders can pay their Haven Term monthly premiums via credit card (feel free to rack up those reward points).
- Waiver of premium now available (at an added cost): Haven Term customers under the age of 60 will no longer have to pay monthly premiums if they become critically ill, seriously injured or disabled.
Just as important, there are many features about Haven Term that remain the same:
- Flexibility: Haven Term policies offer coverage periods for up to 30 years and up to $3 million in coverage for qualified individuals.
- Reliability: Haven Term continues to be issued by one of the country's oldest and most reliable insurers, via MassMutual or its subsidiary C.M. Life, which are rated by A.M. Best Company as A++ (Superior; Top category of 15).
- Benefits beyond insurance: Eligible Haven Term policyholders also receive Haven Life Plus — a rider that offers access to additional benefits (like a digital will and world-class fitness app) at no cost.
- Friendly and knowledgeable customer support: Whether it's via phone, email or live chat, our expert team is (always) ready to help.
Haven Life agents, advisors and fintech partners will also see new enhancements. Specifically, Haven Term is now commissionable in select states and will soon be added to our Partner Portal as a telesales option.
To experience a no-obligation quote for Haven Term, visit HavenLife.com. To learn more about partnering with Haven Life and offering Haven Term to your customers, please visit our partners page.
About Haven Life
Haven Life Insurance Agency, LLC (Haven Life) is re-thinking how people financially protect the ones they love. Haven Life is committed to delivering exceptional products, delightful purchasing experiences, and meaningful moments of service to the modern life insurance customer.
Haven Term is a Term Life Insurance Policy (ICC21 Haven Term in certain states, including NC) issued by C.M. Life Insurance Company (C.M. Life), Enfield, CT 06082. In New York (DTC-NY), California (DTC-CA), and other states, it is issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.
Policy and rider form numbers and features may vary by state and may not be available in all states. Haven Term is available through Haven Life Insurance Agency, LLC (Haven Life), whose agency license number in California is OK71922 and in Arkansas, 100139527. Both Haven Life and C.M. Life are wholly owned subsidiaries of MassMutual.
MassMutual and its subsidiaries C.M. Life Insurance Company and MML Bay State Life Insurance Company are rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of June 1, 2021 and is subject to change. MassMutual has received different ratings from other rating agencies.
1 The issuance of the policy or payment of benefits is based on the truthfulness of information provided in the application.
SOURCE Haven Life
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