Looking for life insurance? Consider Haven Life vs. Everyday Life Insurance. Both are powerful choices with affordable plans to suit your needs. However, there’s one significant difference you need to know: Haven Life only offers policies through MassMutual, while Everyday Life partners with six different companies.
That means you have a better chance of being approved and there’s no bias on the policies Everyday Life recommends for you.
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What is Haven Life Insurance?
Haven Life is wholly owned by MassMutual, one of the largest life insurance companies in the U.S. It launched in 2015 and based out of New York City, offers term life policies and disability insurance.
Haven Life Insurance Pros and Cons
Haven Life Insurance Policies
Haven Life Insurance has a variety of insurance policies available to suit different needs. The agency is primarily known for its life insurance.
Haven Term is a straightforward option for many people. A policy gives you coverage up to $3 million for a set period, typically between ten and 30 years. Most applicants need to complete a medical exam.
Haven Simple offers similar term life protection without the need for a medical exam. However, policyholders are limited to $500,000 in coverage.
Haven Life Insurance Coverage Details and Features
The specific policy options depend on whether you get a Haven Term or Haven Simple policy. However, both policies offer many benefits:
- Level premiums
- Accelerated death benefit
- “Free-look” period that lets you try out the policy with no obligation
The financial rating of the insurance agency that underwrites the policy financial is also crucial — you want to be sure the money will be around when it comes time to pay your death benefit. Haven Life policies are issued by MassMutual or C.M. Life, a MassMutual subsidiary, which has a “superior” rating by AM Best.
Customer Service
Haven Life is accredited by the Better Business Bureau (BBB) and has an A+ rating. It also scores 4.8 out of 5 on Trustpilot.
To get service, contact Haven Life by phone at (855) 744-2836 or online using their live chat feature every weekday from 9 a.m. to 6 p.m. ET.
What is Everyday Life Insurance?
Everyday Life is a Massachusetts-based agency that was founded in 2018 — and they’re changing how people get life insurance. With Everyday Life, you’re 80% likely to be approved at the quoted price for a policy we recommend — that’s twice as likely as the industry standard.
But what really sets Everyday Life apart is the level of personalization available from their policies. The Ultimate Life Insurance Calculator, powered by Predictive Protection™, will assess the coverage you need for every stage of your life.
Everyday Life Insurance Pros and Cons
Everyday Life Insurance Policies
Everyday Life specializes in customizable life insurance coverage. You can get term or whole life insurance, but it isn’t the traditional coverage you’re used to seeing.
Using an algorithm-guided process, The Ultimate Life Insurance Calculator creates a customized life insurance policy for people from all backgrounds. Policies are available in 10, 15, 20 and up to 40-year terms, and you can get coverage from $25,000 to $10 million.
Everyday Life Insurance Coverage Details and Features
Everyday Life offers term life insurance. Many applicants won’t need a medical exam, although some will.
A primary advantage of choosing life insurance from Everyday Life is that it adapts to your life stages. While traditional life insurance stays the same throughout your coverage, Everyday Life’s smart life insurance policy changes to match your needs over time, saving you money from day one.
With Everyday Life, you get many benefits:
- Automatic policy scaling
- Decreasing premiums
- One-on-one customer service
Everyday Life works with a variety of companies that AM Best rates as having a financial strength of “excellent” or better.
Customer Service
Everyday Life is accredited by the Better Business Bureau (BBB) and has an A+ rating. It also has 4.4 out of 5 stars on Trustpilot.
You can contact Everyday Life by phone at (888) 681-3811 or by email at [email protected].
Comparing Haven Life vs. Everyday Life Insurance
A crucial part of choosing life insurance is understanding coverage details. Your policy should stand the test of time. After all, you could have your policy for 20 years or more — it should grow with you as you advance through different life stages.
Haven Life offers traditional term life insurance policies with many benefits such as level premiums and an accelerated death benefit. However, its policies are issued only through MassMutual and coverage lacks adaptive technology to personalize your protection.
On the other hand, Everyday Life works with six different underwriters to make sure you get the best protection for you and your family. It also automatically adjusts and scales down over time to lower your premiums starting on day one.
Haven Life vs. Everyday Life Insurance Cost
Cost is an important consideration for most people shopping for life insurance coverage. How much you’ll pay depends on several factors, including your coverage amount, health, age, gender and more.
Let’s look at what a term life insurance policy from Everyday Life might cost for an average, healthy, nonsmoking individual compared to Haven Life.
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Who Should Consider Haven Life Insurance?
Haven Life is a reliable online life insurance agency. It offers term life policies that meet the needs of many consumers. However, Haven Life is owned by MassMutual and only offers MassMutual products. It’s generally a good choice if you’re looking for:
- Basic term life insurance
- Quality customer service
- No-medical exam life insurance
Because Haven Life is owned by MassMutual, you’re requesting a quote through one provider only — and you may not qualify for coverage. Also, Haven Life policies don’t change over time. You’ll pay the same premiums as long as your policy is active, which could cost you more in the long run.
Who Is Everyday Life Insurance Best For?
Everyday Life is a dependable online life insurance agency. It works with multiple life insurance companies to make sure you get the coverage you need. Even if you don’t qualify through one provider, you can still find a policy that works for you regardless of health status and if you’ve been denied before.
Everyday Life is best for most people, including
- New parents
- Middle-income families
- Busy consumers
- Finance geeks and smart money consumers
Remember that Everyday Life’s policies adapt automatically to life changes, and your premiums will decrease as you get older. Everyday Life customers save $500 to $1,000 on their premiums.
The Verdict: Haven Life vs. Everyday Life
Comparing Haven Life vs. Everyday Life is like comparing apples to oranges. Both companies offer life insurance, but the policies are not created equally.
While Haven Life provides valuable life insurance coverage, it offers policies through MassMutual only. Everyday Life works with multiple underwriters to make sure you get the coverage you need no matter what your health status is or if you’ve previously been denied coverage.
Get a quote today using The Ultimate Life Insurance Calculator from Everyday Life. We won’t ask for your name or contact information, and you’ll have a custom quote in less time than it takes to make a cup of coffee.
