Last Updated: November 12th, 2025
Haven Life stopped accepting new life insurance applications on January 12, 2024, and closed completely by March 31, 2024. If you have an existing Haven Life policy, your coverage remains safe and active under MassMutual, one of America’s highest-rated insurers with A++ financial strength ratings. However, Haven Life policyholders should consider shopping for new coverage now while they’re still insurable, as modern carriers offer better conversion options, enhanced riders, and features Haven Life never provided.
If you’re researching Haven Life Insurance or already own a Haven Life policy, you need to know that Haven Life stopped accepting new applications in January 2024. The company officially closed its doors on March 31, 2024, after operating for nearly a decade as MassMutual’s direct-to-consumer insurance subsidiary.
The good news? If you have a Haven Life policy, your coverage is safe. MassMutual, one of the largest and most financially stable insurance companies in America, continues to service all existing Haven Life policies.
But here’s what many policyholders don’t realize: Haven Life offered limited features compared to what’s available today. Most notably, Haven Life policies cannot be converted to permanent life insurance, and the company offers minimal rider options. If your health or circumstances have changed since you bought your Haven Life policy, now is the time to explore your options while you’re still insurable.
This review covers everything you need to know about Haven Life, why it closed, and what you should do if you’re an existing policyholder.
Why Did Haven Life Close?
MassMutual launched Haven Life in 2014 as a fully digital, direct-to-consumer life insurance platform. The company aimed to simplify the life insurance buying process with online applications, algorithmic underwriting, and fast approvals.
Despite the innovative approach, Haven Life faced significant challenges. MassMutual cited two primary reasons for winding down Haven Life: lack of consumer adoption and high customer acquisition costs. The direct-to-consumer insurance model proved less viable than anticipated, even with MassMutual’s substantial resources backing it.
Haven Life wasn’t alone in this struggle. The direct-to-consumer life insurance space has seen multiple closures, with companies finding it difficult to compete with traditional carriers and independent agents who provide personalized guidance.
Important Update for Haven Life Policyholders
Your Haven Life policy remains active and fully protected. Here’s what you need to know:
MassMutual continues to service all Haven Life policies without any changes to your coverage, premiums, or death benefit. You can still update beneficiaries, change your address, make premium payments, and file claims exactly as you did before. MassMutual holds the highest possible financial strength rating from AM Best (A++), along with AA+ ratings from Fitch and S&P, so your coverage is backed by one of the industry’s most stable companies.
However, you should consider shopping for additional or replacement coverage now for several important reasons. Haven Life policies don’t offer conversion to permanent life insurance, which means you can’t turn your term policy into whole life insurance or universal life coverage later. This is a significant limitation that most major carriers don’t have.
Haven Life also offered minimal rider options compared to what’s available today. Modern life insurance policies include features like chronic illness riders, critical illness coverage, disability income protection, and enhanced living benefits that weren’t part of Haven Life’s product lineup.
Most importantly, your health and circumstances may have changed since you bought your Haven Life policy. If you’re still in good health, you should explore your options now while you’re insurable. Waiting until your term ends or your health declines could mean higher premiums or difficulty qualifying for coverage.
About Haven Life Insurance
Haven Life Insurance operated as a subsidiary of Massachusetts Mutual Life Insurance Company from 2014 to 2024. Based in New York City, the company focused exclusively on term life insurance delivered through a completely online process.
Haven Life used proprietary algorithmic underwriting process that relied on third-party data sources to evaluate applications. This approach allowed the company to offer fully medically underwritten policies without requiring medical exams for many applicants.
The data sources Haven Life used included the Medical Information Bureau (MIB), Social Security Administration records, state DMV records, underwriting information exchanges among member insurance companies, pharmacy benefit managers, consumer reporting agencies, and other publicly available sources. This information could be assembled and analyzed in minutes using sophisticated technology, though some applicants still needed medical exams based on their profiles.
As MassMutual’s subsidiary, all Haven Life policies were actually issued by MassMutual or its subsidiary C.M. Life, which is why existing policies remain secure and fully backed by MassMutual’s financial strength.
Company Ratings of MassMutual
Since Haven Life operated under MassMutual, the relevant financial strength ratings are MassMutual’s ratings, which are among the highest in the industry.
MassMutual holds an A++ rating from A.M. Best’s financial strength ratings, which is the top category out of 15 possible ratings and indicates Superior financial strength. The company also has an Aa3 rating from Moody’s (High Quality, 4th category of 21), an AA+ rating from Standard & Poor’s (Very Strong, 2nd category of 21), and an AA+ rating from Fitch (Very Strong, 2nd category of 21).
These exceptional ratings mean MassMutual has the financial stability to pay claims on all existing Haven Life policies for decades to come. The company manages over $1 trillion in life insurance protection and paid a record $2.2 billion in dividends to policyholders in 2023.
Life Insurance Products Haven Life Offered
Haven Life specialized in term life insurance only. The company didn’t offer whole life insurance, universal life, or any cash value policies. This focused approach allowed Haven Life to concentrate on delivering term life at a high level, but it also meant customers had no options for permanent coverage.
Haven Life’s core product was InstantTerm, designed to provide immediate decisions for applicants in good health. The application process offered two paths depending on your age, coverage amount, and health profile.
If you were in excellent health, under age 45, and applying for $1 million or less, your application could be underwritten based solely on third-party information without a medical exam. Approval could happen in minutes, with coverage effective upon signing policy documents and making your first premium payment.
If you were older than 45, applying for more than $1 million, or if third-party information revealed health concerns, a medical exam would be required. A paramedic would come to your home or office at a convenient time to collect blood and urine samples and complete any other required tests. If performed quickly, approval could happen within 7 to 10 days.
Haven Life also offered temporary coverage while waiting for medical exam results. This applied only to policies with death benefits of $1 million or less and remained in force for up to 90 days until the exam was completed. If your application was ultimately declined after the exam, premiums paid for temporary coverage would be refunded in full.
Haven Life Insurance Riders
Haven Life offered fewer life insurance riders than most traditional carriers, keeping the product simple but also limiting customization options. You may want to consider a new policy with conversion features, while you are still healthy enough to qualify.
The accelerated death benefit rider gave policyholders access to a portion of their death benefit if diagnosed with a terminal illness (life expectancy of 12 to 24 months or less). Proceeds could pay medical or living expenses, though the amount received while living would reduce the final death benefit.
The waiver of premium rider waived premiums if the policyholder became fully disabled due to injury or illness. This rider was only available to applicants under 50 years old and required an additional premium.
The guaranteed renewability rider allowed policies to be renewed after the term expired without requalifying based on medical conditions. Premiums would increase upon renewal based on age, but coverage could continue.
Haven Life Plus was a unique offering that provided additional benefits like Trust & Will (create a will with a year of unlimited updates for $129), LifeSite (a secure online document storage system for $80 per year), and a 15% discount on CVS MinuteClinic services. This wasn’t available in Florida, New York, North Dakota, South Dakota, or Washington.
Notably absent from Haven Life’s offerings was the ability to convert term policies to permanent life insurance. This is a standard feature with most major carriers and represents a significant limitation for Haven Life policyholders who might want whole life coverage later.
Haven Life Insurance Eligibility
Haven Life offered term policies with death benefits ranging from $100,000 to $3 million. However, applicants between 60 and 64 years old could only get a maximum of $1 million in coverage.
One major limitation was that Haven Life didn’t offer coverage for anyone over 64 years old, which excluded many seniors who needed term life insurance.
Policy terms were available for 10, 15, 20, and 30 years. All policies were level term, meaning premium payments remained the same throughout the initial term.
Coverage was available in all 50 states plus the District of Columbia. Each person required a separate application, so you couldn’t add a spouse to your policy.
To qualify, applicants had to be U.S. citizens and residents between 18 and 64, couldn’t be active military members (or planning to enlist), and couldn’t use the policy to replace another life insurance policy. Haven Life policies weren’t available for business purposes like key person insurance.
What Haven Life Got Right (And What It Missed)
Haven Life succeeded in several areas. The completely online application process was genuinely convenient, eliminating the need for in-person agent meetings. The algorithmic underwriting allowed many applicants to get approved in minutes without medical exams, which was faster than traditional carriers. Since policies were fully medically underwritten (even without exams), rates were more competitive than simplified issue or guaranteed issue policies.
The company’s rates were consistently better than average when compared to top insurers, even for smokers and seniors. Being backed by MassMutual meant policies were issued by one of the largest insurance companies in America.
However, Haven Life had significant limitations that modern carriers have addressed. The inability to convert term policies to permanent life insurance is a major drawback. Most reputable carriers offer conversion options, allowing you to switch to whole life or universal life later without new medical underwriting. This is valuable if your health declines or your needs change.
Haven Life’s rider options were minimal compared to what’s standard today. Many carriers now offer chronic illness riders, critical illness coverage, disability income riders, and long-term care riders that can provide living benefits Haven Life never included.
The company’s age limit of 64 excluded many seniors who needed term life coverage. Modern carriers offer term life well into your 70s or even 80s.
Haven Life policies couldn’t be used for business purposes, which limited options for business owners needing key person insurance or buy-sell agreements.
Why You Should Shop for Coverage While You’re Insurable
If you have a Haven Life policy, your coverage is safe with MassMutual. But you shouldn’t assume your current policy is your best option going forward.
Your health status today determines your insurability and rates. If you’re still in good health, you can likely qualify for competitive rates with carriers that offer better features. If you wait until your health declines, you may pay significantly more or struggle to qualify at all.
Modern life insurance policies include riders and features that weren’t part of Haven Life’s offerings. Chronic illness riders let you access your death benefit if diagnosed with a qualifying chronic condition. Critical illness riders provide lump-sum payments for heart attacks, strokes, or cancer diagnoses. Long-term care riders can help pay for nursing home or home health care costs. These living benefits can provide financial protection during your lifetime, not just at death.
The conversion limitation is particularly important. What if you develop a health condition during your term and can’t qualify for new coverage when your policy ends? With Haven Life, you’re stuck with annually renewable term at increasing rates or no coverage at all. Carriers offering conversion rights let you switch to permanent coverage regardless of your health.
Your family’s financial needs may have changed since you bought your Haven Life policy. Perhaps you need more coverage now, or maybe you can reduce your coverage. Shopping around gives you the opportunity to right-size your protection.
Finally, the life insurance market is competitive. You might find better rates today than when you bought your Haven Life policy, especially if you’re in excellent health or if you bought your policy when you were older and rates have improved. When you get quotes from multiple carriers, you can compare what’s available and make an informed decision.
Features of Haven Life Insurance Policies
Haven Life offered several useful tools and policy features during its operation.
The Quick Estimate tool allowed potential customers to get ballpark premium estimates on various policy amounts without completing a full application. This gave people an idea of costs before committing to the process.
The Needs Calculator helped determine appropriate coverage amounts by factoring in needs like replacing after-tax income, paying off debts, funding children’s college educations, and covering final expenses.
A free look period (typically 10 days in most states) let policyholders review their policy after delivery and cancel for a full refund if unsatisfied. Refunds were usually processed within 7 to 10 business days.
Premium payments had to be made by monthly draft through a preauthorized checking account. Monthly payments were the only option. There was a 31-day grace period if you missed the due date with no lapse in coverage as long as payment was made within that timeframe.
Policies were renewable on an annual basis after the original term expired, though at increasing rates.
Customer service was available by toll-free phone Monday through Friday, 9:00 am to 6:00 pm Eastern Time, with email support available after hours.
Should You Keep Your Haven Life Policy?
If you have an existing Haven Life policy, there’s no immediate need to cancel it. Your coverage is safe, your premiums won’t change, and MassMutual will continue servicing your policy exactly as Haven Life did.
However, you should absolutely shop around and compare your options when exploring alternatives to Haven Life. Get quotes from multiple carriers to see if you can get better rates, enhanced riders, or conversion options that Haven Life didn’t offer. Consider your current health, your family’s financial needs, and how long you need coverage.
If you’re in excellent health and you’re still within your term period, you might qualify for a new policy with better features at a competitive rate. You can then decide whether to keep your Haven Life policy as a base layer of coverage and add supplemental insurance, or replace it entirely with a better policy.
If your health has declined since buying your Haven Life policy, you might want to keep your current coverage since you qualified at better rates when you were healthier. But you should still explore your options because some carriers specialize in high-risk underwriting and might still offer coverage.
The key is to shop now while you have time and options, rather than waiting until your term ends or your health forces your hand.
Frequently Asked Questions
Is my Haven Life policy still valid?
Yes. All Haven Life policies remain active and fully protected. MassMutual continues to service all policies with no changes to your coverage, premiums, or death benefit.
Can I still make changes to my Haven Life policy?
Yes. You can update beneficiaries, change your address, adjust your payment method, and file claims through MassMutual’s customer service channels. Your policy remains fully manageable.
Why should I shop for new coverage if my Haven Life policy is still active?
Haven Life policies lack key features that modern carriers offer, including conversion rights to permanent insurance and enhanced living benefit riders. Shopping now while you’re healthy gives you access to better options and ensures you have coverage flexibility for the future.
What happens when my Haven Life term ends?
You can renew your policy annually at increasing rates based on your age. However, you won’t be able to convert to permanent life insurance, which is a standard feature with most other carriers.
Will MassMutual cancel my Haven Life policy?
No. MassMutual has committed to servicing all existing Haven Life policies for their full term. Your coverage is backed by one of the industry’s most financially stable insurers.
Can I get more coverage from Haven Life?
No. Haven Life stopped accepting new applications on January 12, 2024. If you need additional coverage, you’ll need to apply with a different carrier.
What should I do if I’m still healthy and want better coverage options?
Get quotes from multiple carriers now while you’re insurable. Compare rates, riders, and conversion options. You can keep your Haven Life policy while exploring alternatives or replace it if you find better coverage.
Key Takeaways
Haven Life closed to new business in January 2024, but all existing policies remain safe and active under MassMutual, one of America’s highest-rated insurers. Your coverage, premiums, and death benefit are unchanged.
Haven Life policies have significant limitations compared to modern carriers, including no conversion rights to permanent insurance and minimal rider options. Most major carriers offer better features.
Shop for new coverage now while you’re still healthy and insurable. Your current health status determines your rates and eligibility. Waiting until your health declines or your term ends limits your options.
Modern life insurance includes living benefit riders that Haven Life didn’t offer, such as chronic illness, critical illness, and long-term care riders. These features provide financial protection during your lifetime.
Even if you keep your Haven Life policy, get quotes to understand your options. You might find better rates, enhanced features, or conversion rights that make switching worthwhile.
Your Haven Life policy is safe with MassMutual, but you deserve to know what better options are available. Get a free, no-obligation quote comparison from Best Life Quote today. We’ll help you explore carriers offering conversion rights, enhanced riders, and features Haven Life never provided. Don’t wait until your term ends or your health changes. Find out what you qualify for now while you’re still insurable. Request your free quote online using the quoter on this page.
