Haven life company evaluation and product introduction

Introduction

Haven Life, whose Chinese name is Harbor Life, focuses on online medical examination-freeTerm life insuranceproduct.For most people, when they suddenly see the name of Haven Life, their first reaction is, where did the "insurance company" pop up? How come they have never heard of it?Is it a small company from a small city in a central state?

But once we tell you, Haven Life and Wantong Life (Mass Mutual) Is a company, the latter is the parent company of the former, Haven Life is a life insurance sub-brand established by MassMutual Life to focus on term life insurance.This way, will you feel the bottom of your heart?What's more, the credit rating of Vantone Life includes the credit rating of Haven Life. With the support of excellent financial strength and credit rating, Haven Life quickly became the market leader in this field.

Evaluation and product introduction of Haven Life

Haven Life is a startup company in the insurance field, only a few years old.Yaron Ben-Zvi, one of the founders of the company, wanted to buy life insurance to protect the family's financial situation when he welcomed the first child. Yaron found that buying life insurance is easier said than done.It is difficult for him to purchase such products entirely through the Internet, and it will take him several weeks.

In an era of the Internet, it sounds as simple as a thing, and you have to endure a time-consuming and laborious experience with money.This made Yaron think this was a big problem. As a Wharton graduate, he and his collaborators soon founded Haven Life.

The characteristics of Haven Life are:

• Internet-based application and processing
• Most customers do not need a medical examination
• The policy is effective immediately

Credit rating and financial strength

Thanks to the support of Vantone Life, which has a history of more than 100 years, the credit rating of Haven Life adopts the ratings of the parent company by the four major rating agencies.

Vantone Life was evaluated by the four major rating agencies as:

• AM Best – (A++)
• Fitch – (AA+)
• Moody – (Aa2)
• Standard & Poor's-(AA+)

Haven Life's product introduction

Haven Life's main onlineTerm life insuranceproduct.By what they call "Instant Term"In the process of processing, customers under the age of 45 and customers with an insured amount of no more than $100 million can apply for a life insurance policy online and may be covered immediately.

In addition, Haven Life also insures some customers who meet the conditions and have chronic diseases (such as diabetes), and provides competitive prices for relatively healthy and young customers.The entire process is done online, with exceptions. Not everyone will not receive a physical examination, and customers may also be required to undergo a physical examination.

The premium of Haven Life's term life insurance is designed to be constant, and the customer's premium will not change during the validity period of the policy.It is worth noting that after the age of 65, the policy can continue to be renewed every year. If you choose to renew, the premium will increase significantly.The valid range of the policy is:

• 10
• 15
• 20
• 30 years (insurant under 50 years old)

If you are under the age of 60, the maximum sum assured of the policy is $200 million.If the age is over 60, the maximum sum assured of Haven Life term life insurance products can only be $100 million.At the same time, if the purchase is made entirely through the Internet, there is also a maximum insurance limit of $100 million.

Although these policies are actually underwritten by Vantone Life, Haven Life, as an Internet company, provides users with convenient services: users can change some policy options through the Internet without calling the insurance company or broker to complete Some legal documents.These operations include: changing the owner of the policy, updating payment information, reducing the insured amount of the policy, changing the beneficiary, etc.

Haven Life’s products are insufficient

Since this company only provides term life insurance, customers cannot switch to whole life insurance products after purchase.This shortcoming does not exist in many other insurance companies.At the same time, Haven Life's policy products cannot be used for commercial purposes, such as not being used by the company to provide core employee protection plans.

Additional terms of Haven Life (Riders)

Haven Life provides two basic riders. Almost all insurance companies provide these two riders:

• Expedited death benefit clauses. If you are diagnosed with terminal illness and the doctor asserts that you have less than 12 months of life, the insured person can apply for partial death compensation.
• Premium waiver clauses. If you are disabled and unable to pay your premiums, this clause guarantees that your policy will remain valid until you can resume paying premiums.If you are completely incapacitated before the age of 65, for at least 6 months, then this additional clause guarantees that you will still be protected even if you do not continue to pay the premium.Note that policyholders after the age of 50 do not provide this clause.

insurGuru©️Comprehensive Evaluation

Although there are many companies that provide term life insurance products in the market, Haven Life is unique with a good online experience and excellent service, providing customers with fast and affordable term life insurance products.

The characteristics of Haven Life are very clear: all are carried out on the Internet and take effect immediately.In short, this company is suitable for users who are above the average health level and want to apply for insurance quickly.

Official website: havenlife.com

Internet insurance brand company, underwritten by the parent company MassMutual, provides term life insurance products that do not require physical examinations and are insured online immediately.

American Life Insurance Guide > Company Reviews > Haven Life