American National vs. Haven Life: Best Life Insurance Company in 2021

Comparing American National vs. Haven Life insurance shows Haven Life offers cheaper insurance rates for women and men. Both companies have strong ratings for financial stability, although Haven Life scores slightly higher. The term life insurance coverage for American National vs. Haven Life is similar. Haven Life only sells term life insurance. American National is an older life insurance company.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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Quick Facts

  • Haven Life comes out on top with more affordable term life insurance rates when comparing American National vs. Haven Life.
  • American National and Haven Life both receive positive marks for customer service and paying out claims. 
  • American National offers a wider selection of insurance products than Haven Life.

Life insurance companies aren’t interchangeable. There can be quite a price difference for the same coverage between term life insurance quotes. Today we’ll compare American National vs. Haven Life insurance to see if either company is a good fit for you.

Factors such as financial strength, customer satisfaction, and policy options may also influence your decision to purchase life insurance from American National or Haven Life.

You could save a surprising amount of money when you compare American National vs. Haven Life life insurance quotes.

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American National vs. Haven Life: What life insurance products are offered?

Customers should review a company’s life insurance policies to make sure they’re buying the right coverage for their needs. With this in mind, let’s compare American National vs. Haven Life insurance products. 

American National is a provider of several popular life insurance policies including:

  • Term life insurance
  • Whole life insurance
  • Universal life insurance
  • Guaranteed-issue life insurance
  • Indexed universal life insurance

American National life insurance company offers customers up to $1 million of coverage. Their term life insurance policies are available on five, 10, 15, 20, and 30-year terms. 

Some customers turn to American National specifically for the five and 15-year terms, which are hard to find among other life insurers. Customers may also be able to convert permanent life insurance policies into whole life insurance policies. 

American National’s whole life insurance offers policyholder’s lifetime coverage and fixed benefits that payout to loved ones when the policyholder passes away. 

Policyholders with whole life insurance from American National are also eligible to receive dividend payments. Dividends are not guaranteed, however, they periodically help customers recoup some of their life insurance expenses. 

American National offers three options for customers considering a universal life insurance policy:

  • Basic universal life insurance
  • Indexed universal life insurance
  • Guaranteed universal life insurance

Check out our American National life insurance review for details on how the company’s universal life insurance may be right for you. 

Haven Life offers flexible term life insurance in two packages: Haven Term and Haven Simple.

Haven Term life insurance provides coverage up to $3 million. Terms range from 10 to 30 years and feature level premiums. Haven Term customers may be subject to a medical exam to qualify.

On the other hand, Haven Simple policies offer fast approval and don’t require a medical exam. This type of term life insurance offers coverage up to $500,000 for terms of 10 to 30 years. 

Haven Life doesn’t sell any published whole life or universal life policies at this time. Customers seeking whole life insurance or universal life insurance will need to look for a different insurer. 

Haven Life offers some unique perks in the form of riders, income protection insurance, and annuities.

Customers extending their term life insurance from Haven Life with a rider may be eligible for free online wills, healthcare discounts from CVS MinuteClinic, and fitness app subscriptions.

Haven Life’s Age-Up annuity provides income replacement options for customers age 90 and older. 

Read our Haven Life insurance review for more details about the company’s term life coverage. 

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American National vs. Haven Life: Which company offers more affordable rates to women? 

The rates for the same amount of life insurance coverage may differ greatly between insurance companies. That’s why it’s so important to compare life insurance quotes from various insurers if you want to save money on your rate.

Which company offers cheaper prices when comparing American National vs. Haven Life life insurance rates? Let’s look at how American National and Haven Life insurance average monthly rates compare for a 20-year term life insurance policy of $100,000 for non-smoking women of different ages. 

American National vs. Haven Life: Female 20-Year Term $100,000 Policy Monthly Rates by Age
AgeAmerican National Average Monthly Rates for a 20-Year Term $100,000 Policy (Male)Haven Life Average Monthly Rates for a 20-Year Term $100,000 Policy (Male)
25$14.17$8.72
35$15.81$8.98
45$24.80$13.66
55$47.17$26.95
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Haven National’s term life insurance rates are cheaper for women of all ages. We also see rates for both insurers increase with age. F

actors such as your age, gender, medical history, and lifestyle may impact the rates you pay for life insurance. 

American National vs. Haven Life: Which company offers more affordable rates to men? 

Next, we’ll examine the monthly average rates non-smoking men of different ages can expect to pay for American National vs. Haven Life term life insurance.

American National vs. Haven Life: Male 20-Year Term $100,000 Policy Monthly Rates by Age
AgeAmerican National Average Monthly Rates for a 20-Year Term $100,000 Policy (Male)Haven Life Average Monthly Rates for a 20-Year Term $100,000 Policy (Male)
25$15.98$9.51
35$16.68$9.60
45$30.76$16.65
55$65.06$35.76
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The comparison of affordable American National vs. Haven Life insurance shows Haven Life offers cheaper rates on term life insurance for men at each age surveyed. 

Men typically pay a little more than women for term life insurance. This is common among all life insurance companies.

American National vs. Haven Life: Do the companies have positive ratings?

Third-party ratings help customers understand the financial stability and customer satisfaction of a life insurance company. So, which company has better ratings in a comparison of American National vs. Haven Life reviews by rating agencies?

The following table shows how American National vs. Haven Life ratings breakdown among trusted rating agencies.

Ratings Comparison for American National vs. Haven Life

Ratings AgencyAmerican National RatingHaven Life Rating
A.M. BestAA++
Better Business Bureau (BBB)N/AA+
Standard and Poor's (S&P)AAA+
NAIC Complaint Index0.160.12
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First, we’ll consider the A.M. Best rating. A.M. Best evaluates insurance companies based on financial strength, which means an insurer’s ability to pay out claims to policyholders.

American Life scores an A rating from A.M. Best, which is the third-best grade the agency awards. Haven Life notches a perfect A++ rating. This indicates Haven Life insurance has a superior ability to meet ongoing financial obligations.

Now, we’ll turn to the Better Business Bureau (BBB). This organization grades insurance companies on their time in business, open complaints, resolved complaints, and federal action against a company.

American Life is not registered with the BBB and therefore does not receive a grade. Meanwhile, Haven Life gets another perfect A+ rating.

Ratings from Standard and Poor’s (S&P) measure the credit risk of a life insurer. S&P gives American Life an A rating for its strong ability to meet financial obligations.

Haven Life does even better by receiving an AA+ rating, indicating a very strong ability to pay financial obligations.

Finally, the NAIC Complaint Index assigns numerical scores to life insurance companies based on the number of customer complaints an insurer receives in a year. The NAIC sets an average score of 1.00 for the life insurance industry. 

Lower scores are better and indicate an insurer gets fewer complaints than a higher scoring competitor. For example, an insurance company with a 0.50 score performs better customer service than a company with a 1.10 score.

Both American National and Haven Life perform much better than the industry average on the NAIC Complaint Index. American National’s score is 0.16 while Haven Life scores 0.12. We see Haven Life has an edge with slightly fewer complaints. 

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American National vs. Haven Life: Which company is best for life insurance?

There’s a big difference between American National when it comes to company age. American National was founded in 1905 in Galveston, Texas.

Haven Life was founded in 2014. The company is backed and wholly owned by MassMutual. Being a recent startup, Haven Life is a tech-forward company with a fast and intuitive website. 

Contacting American National is easy. Customers may call the American National life insurance phone number at 800-899-6519 or access their accounts online using the American National login

Like American National, Haven Life customers can access their policies via an online self-service portal. Customer service is available by online chat or by calling 1-855-744-2836.

Employees are generally happy working for both companies. This means customers are likely to receive quality service.

American National’s Glassdoor profile indicates that employees rate the company 3.9/5 for overall job satisfaction. By contrast, the Haven Life Glassdoor review shows employees rate the company a 4.6/5. 

American National vs. Haven Life: The Bottom Line

Should you buy American National or Haven life insurance?

In the American National vs. Haven Life comparison, Haven Life offers cheaper average term life insurance rates for men and women of all ages. Haven Life also scores better ratings for financial stability and customer service. 

American National boasts a wider selection of life insurance products. They sell car, home, and health insurance in addition to life insurance. Haven Life only sells term life insurance–not whole life insurance or universal life insurance.

Before buying life insurance from American National or Haven Life, you should compare quotes from other insurers.

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