Haven Life Insurance

Haven Life Insurance was founded in 2014, so as of 2023, the company has been around for 9 years. Haven Life Insurance is a relatively new player in the life insurance industry, but it has quickly established itself as a digital life insurance agency that offers affordable and flexible term life insurance policies to individuals and families.

Haven Life Insurance offers term life insurance policies to individuals between the ages of 18 and 64. This means that applicants must be at least 18 years old when applying for a policy, and they cannot be older than 64 at the time of application. The age range is fairly standard for term life insurance policies, which are typically designed to provide coverage during the primary earning years of an individual’s life. If you are outside of this age range, you may want to consider other life insurance options that are better suited to your needs.

In some cases, Haven Life Insurance does require a medical exam as part of the application process for its term life insurance policies. However, the company also offers a simplified issue term life insurance policy called Haven Simple, which does not require a medical exam. Applicants for Haven Simple are asked a series of health questions during the application process, and coverage is subject to approval based on the applicant’s health status and medical history.

No, Haven Life Insurance only offers term life insurance policies and does not offer whole life or universal life insurance policies. Term life insurance policies are designed to provide coverage for a set period of time, typically 10, 15, 20, or 30 years, while whole life and universal life insurance policies provide coverage for the insured’s entire life and often include a savings component.

Yes, Haven Life Insurance offers a rider called the Haven Term Plus rider that can be added to its standard Haven Term life insurance policies. The Haven Term Plus rider is a terminal illness rider that allows policyholders to access a portion of their death benefit early if they become terminally ill with a life expectancy of 12 months or less. The rider is available at no additional cost to policyholders and can provide peace of mind to individuals who are concerned about the financial burden of end-of-life care.

In addition to the Haven Term Plus rider, Haven Life Insurance also offers an online tool called LifeSite that allows policyholders to store and organize important documents and information, such as wills, insurance policies, and financial accounts. While not technically a rider, this tool can be a useful resource for policyholders and is available at no additional cost.