Haven Life is a tech-focused life insurance agency that offers the only affordable, fully medically underwritten term life insurance policy that you can purchase entirely online without a medical exam. We're transforming the typically time-consuming and confusing process of buying life insurance into one that's easier, faster and just plain better.
MassMutual is a mutual company. That means we don’t have shareholders. Instead, our members and participating policy owners are often described as sharing in our ownership. This means that, if you’re insured under a MassMutual whole life insurance policy, for example, you are a member entitled to vote for our Board of Directors. And if you own that participating policy, you may be eligible to share in any dividends we may declare.
As a mutual company, we operate for the benefit of our members and participating policy owners. We manage the company with a focus on their long-term interests and are not subject to the expectations of Wall Street analysts or stockholders.
Throughout our history, this focus on the long-term has helped us provide financial and retirement security to millions of people. And while they're not guaranteed, we've consistently paid dividends to eligible participating policy owners since the 1860s. Our success is reflected in our financial strength ratings, which are among the highest of any company in any industry.
Included Term Life Features
- Accelerated Death Benefit: Included at no extra cost. The Accelerated Death Benefit (ADB) payment is payable in the event of a qualifying terminal illness. The ADB is based on a portion of the policy's death benefit, subject to a maximum benefit amount, which is the lesser of $500,000 or 75% of the death benefit. The ADB is treated as a lien, which accrues interest. Upon the death of the Insured, the death benefits payable are reduced by the total ADB lien. Available in all states except CT.
- Conversion Option: Included at no extra cost. The policy is convertible to a qualified permanent policy for the duration of the guaranteed level premium period or up to the Insured's attained age 70, whichever comes first. Policies issued at age 66 or over are convertible during the first five policy years.
- MediGuide Medical Second Opinion: Included at no extra cost. The MediGuide Medical Second Opinion Program provides services should the Insured be diagnosed with a qualifying life threatening condition or disease. MediGuide America will collect and assemble all medical records and obtain a medical second opinion and recommend three facilities, at no cost to the Insured. Available in all states except KS, NY, WA.
Optional Term Life Features
- Additional Term Insurance Rider: Available with extra premium. Additional Term Insurance Riders (AIR) can provide additional temporary life insurance coverage for 10, 15 or 20 years, after which coverage ceases.
- Children's Life Insurance Rider: The Children’s Life Insurance Rider (ICC14-CLIR) provides death benefit protection for families with one or multiple children. A single rider covers all eligible children to the earlier of the child’s 25th birthday, the insured’s 65th birthday or policy termination. Eligible children of the policy insured (not owner) include any unmarried child, stepchild or legally adopted child, who is not beyond his or her 18th birthday at the time of application. Available only at policy issue when the primary insured person is between the ages of 20 and 55, age nearest birthday.
- Waiver of Premium Rider: Available with extra premium. Banner Life Insurance Company will waive all premiums that are due during total disability if given due proof of total disability and such total disability has then existed continuously for at least six months. Waiver of Premium coverage ceases at the Insured's attained age 65.
A two-year contestable and suicide provision applies.
Haven Term is a Term Life Insurance Policy (DTC, ICC14DTC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111 and offered through Haven Life Insurance Agency, LLC.
InstantTerm 10: Term life insurance with level premiums during the initial 10-year period. Premiums increase annually in years 11 and later.
InstantTerm 15: Term life insurance with level premiums during the initial 15-year period. Premiums increase annually in years 16 and later.
InstantTerm 20: Term life insurance with level premiums during the initial 20-year period. Premiums increase annually in years 21 and later.
InstantTerm 30: Term life insurance with level premiums during the initial 30-year period. Premiums increase annually in years 31 and later.