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Haven Term vs Haven Simple

The key differences and similarities between our two life insurance offerings

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Life Insurance with No Medical Exam

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You’ve decided to get life insurance. Great! This is the first step of a long journey. Well, actually it’s kind of a short journey — you can get a quote, apply and potentially even get coverage in a little more time than it takes to read this article.

But what kind of coverage? And how much? And from whom? We’re here to help answer those questions.

In short, you might want life insurance coverage if you have dependents who, yes, depend on you to pay for things like food, a mortgage and education.

For many people, term life insurance coverage makes sense, because it allows you to buy life insurance coverage for a set amount of time (the term). If you outlive that time, you no longer have to pay premiums. As an added bonus, you’re still alive. (Whole life insurance policies and permanent life insurance policies, including universal life insurance policies, last as long as you do, but often cost more in premiums as a result.)

Typically, someone will choose a term length that corresponds to how long they would expect to a) be making money; b) have expenses. For example, you might want coverage that lasts until you plan to retire, until your mortgage is paid off, or until you expect your kids to finish school. Many insurers offer terms up to 30 years.

So how much coverage do you need? A good rule of thumb is 5 to 10 times your annual salary. This way, if you die, your loved ones (known as life insurance beneficiaries) will have enough money to cover their expenses when you’re not there. They can use the lump sum payout for things like groceries, mortgage payments or rent, tuition, and final expenses like burial and funeral costs.

Those are the basics. But if you’re reading this, you might need information that’s not-so-basic. Perhaps you’ve come to Haven Life because of its great reviews or because it’s backed and wholly owned by MassMutual. Or maybe you just Googled it.

Whatever the case, you should know that Haven Life offers two term life insurance policies, Haven Term and Haven Simple.

Haven Term is traditional term life insurance coverage. You apply online, take an in-person medical exam (in most cases), and, if you’re approved, you receive coverage, for which you’ll pay a monthly premium for the duration of the term.

Haven Simple is also term life insurance coverage, but with a key difference: You will not be required to take a medical exam. This limits both the coverage amount and the term length, but it also offers unparalleled convenience and immediacy. (Just be honest on your application, or your policy might not be issued, or get paid out.)

Let’s dive into the details.

In this article:

What is Haven Term?

Haven Term is Haven Life’s flagship offering. It’s a term life insurance product, which means you buy life insurance coverage for a set amount of time: 10, 15, 20, 25 or 30 years. Your monthly premium payment is determined by how much coverage you buy, your term length, and your general level of health.

That last part is key: To determine how healthy you are, most applicants must undergo a short and relatively painless life insurance medical exam. This helps the insurer know things like if you have high blood pressure or high cholesterol, your general level of health (including height and weight), and anything else that might not be clear from your application. (For example, you might mention any medications you might be taking to your examiner.)

Because the insurer has a clearer picture of your health, this enables the insurer to do three things: Offer a longer term, offer a larger amount of insurance (up to $3 million for Haven Term), and typically, offer you a lower premium. (Because there is less risk in the underwriting process, which assesses your life expectancy.)

Here are some examples of what nonsmokers in excellent health might pay for a Haven Term policy, issued by a subsidiary of MassMutual, C.M. Life.

Quotes for term life insurance

AgeGenderHealthFace amountTerm lengthMonthly premium
30MaleGood$250,00030$23.92
FemaleGood$300,00030$24.28
MaleExcellent$500,00030$29.99
FemaleExcellent$1,000,00030$43.41
35MaleGood$250,00020$16.86
FemaleGood$300,00020$17.15
MaleExcellent$500,00020$20.72
FemaleExcellent$750,00020$23.13
40MaleGood$250,00010$15.40
FemaleGood$400,00010$18.42
MaleExcellent$600,00010$18.98
FemaleExcellent$800,00010$20.89

Estimate based on pricing for eligible Haven Term applicants in excellent health. Pricing differences will vary based on ages, health status, coverage amount and term length. These prices do not reflect the rates for applicants in DE, FL, ND, NY and SD.


Haven Life

Haven Term is a great option for anyone who wants to pay lower rates (most likely), has no objection to taking a medical exam (if required), and wants or needs the highest coverage amount.

For eligible policyholders, it also includes the Haven Plus bonus rider, a no-cost living benefits rider that features an online will service, a subscription to a fitness app and more, all at no- or low-cost. Get a quote for a Haven Term policy.

What is Haven Simple?

Think of Haven Simple as the same great life insurance coverage, but with an application process that’s, well, simpler. That’s because it does not require a medical exam.

Essentially, you provide the same info you normally would when you apply — height, weight, medical history, prescriptions, etc. — and then get a coverage decision within minutes. If you’re approved, you’ll be covered immediately. Just note that issuance of the policy, and payment of the benefits, both depend on the truthfulness of your answers during this process.

The tradeoff is that you will likely pay a higher monthly premium, on account of the insurer having less certainty about your health. For the same reason, the maximum available coverage amount is lower (though Haven Simple now offers policies up to $1 million). In addition, you’ll probably be offered a shorter term length, though Haven Simple offers up to 20 years, which is enough for many people.

Here are a few examples of what a nonsmoker might expect to pay for Haven Simple, issued by MassMutual subsidiary C.M. Life.

Quotes for 100% no medical exam term life insurance

AgeGenderFace amountTerm lengthMonthly premium
25Male$200,00020$14.46
Female$400,00020$19.77
30Male$100,00020$9.70
Female$500,00020$22.60
35Male$200,00015$14.28
Female$300,00015$14.66
40Male$200,00010$20.05
Female$400,00010$21.64

Estimate based on pricing for eligible Haven Simple applicants in excellent health. Pricing differences will vary based on ages, health status, coverage amount and term length. These prices do not reflect the rates for applicants in DE, ND, NY and SD.


Haven Life

Is that tradeoff worth it for you? It might be, if your priorities include avoiding an exam at all costs. For example, many people say that the hassle of scheduling and then taking an exam is what has kept them from getting insured — maybe they’re new parents, or maybe they have a high-stress job. If that sounds familiar to you, Haven Simple might be a good choice for you and your loved ones.

Haven Simple

Up to $500,000 in coverage. 100% no medical exam.

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Which one is right for me?

It really comes down to the tradeoff between convenience and cost. Again, if you either do not want to take a life insurance medical exam, or have let the challenge of scheduling an exam keep you from getting insured, Haven Simple might be your best fit. And while the cost is typically higher than comparable Haven Term coverage, the rates remain quite affordable. Find out what a Haven Simple policy might cost by getting a quote today.

For most people, Haven Term might be the more appealing option. Lower rates for most applicants, an easy online application process … it’s all there. And again, if you need a longer term and/or a higher coverage amount, Haven Term might be a good fit.

As an example, a 35-year-old woman in excellent health could buy a $500,000, 20-year Haven Simple policy for $24.31 per month. That same coverage length and amount would cost that same woman around $17.50 per month for Haven Term — a $7 dollar difference. That might not sound like much, but over the 20-year term, it adds up to $1,680.

Whichever you choose, a few things will be the same. You’ll be working with our first-class Customer Success team, dedicated to making sure all your questions are answered, and all your needs are met. (Well, your insurance needs, anyway.) You’ll receive our accelerated death benefit rider.

Haven Life is associated with MassMutual, an industry leader with more than 170 years of experience. And again, thanks to our innovative underwriting process and online-first mentality, you’ll likely experience the good kind of sticker shock when you discover our low rates.

Which reminds us: Both Haven Term and Haven Simple offer level term premiums, which is industry-speak for monthly rates that stay the same throughout the life of your policy. You’ll get older, but your premiums will stay the same.

Lastly, each policy comes with peace of mind (at no additional charge!). There’s nothing like knowing that, should the worst come to pass, your loved ones will have financial coverage that will get them through it. If we had to use a (Haven) Term, it’s that (Haven) Simple.

Haven Life: Life insurance that’s actually simple

Life insurance is more affordable than you think

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About Louis Wilson

Louis Wilson is a freelance writer whose work has appeared in a wide array of publications, both online and in print. He often writes about travel, sports, popular culture, men’s fashion and grooming, and more. He lives in Austin, Texas, where he has developed an unbridled passion for breakfast tacos, with his wife and two children.

Read more by Louis Wilson

Our editorial policy

Haven Life is a customer-centric life insurance agency that’s backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe navigating decisions about life insurance, your personal finances and overall wellness can be refreshingly simple.

Our editorial policy

Haven Life is a customer centric life insurance agency that’s backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe navigating decisions about life insurance, your personal finances and overall wellness can be refreshingly simple.

Our content is created for educational purposes only. Haven Life does not endorse the companies, products, services or strategies discussed here, but we hope they can make your life a little less hard if they are a fit for your situation.

Haven Life is not authorized to give tax, legal or investment advice. This material is not intended to provide, and should not be relied on for tax, legal, or investment advice. Individuals are encouraged to seed advice from their own tax or legal counsel.

Our disclosures

Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in certain states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively through Haven Life Insurance Agency, LLC. In NY, Haven Term is DTC-NY 1017. In CA, Haven Term is DTC-CA 042017. Haven Term Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in certain states, including NC) issued by the C.M. Life Insurance Company, Enfield, CT 06082. Policy and rider form numbers and features may vary by state and may not be available in all states. Our Agency license number in California is OK71922 and in Arkansas 100139527.

MassMutual is rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of Aril 1, 2020 and is subject to change. MassMutual has received different ratings from other rating agencies.

Haven Life Plus (Plus) is the marketing name for the Plus rider, which is included as part of the Haven Term policy and offers access to additional services and benefits at no cost or at a discount. The rider is not available in every state and is subject to change at any time. Neither Haven Life nor MassMutual are responsible for the provision of the benefits and services made accessible under the Plus Rider, which are provided by third party vendors (partners). For more information about Haven Life Plus, please visit: https://havenlife.com/plus

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