How can I apply for life insurance?

Buying a life insurance policy online may seem foreign to some.

But assuming you’re provided with the right tools, it can actually be quite easy to apply for a life insurance policy entirely online without setting foot in the office of an insurance agency or a medical examiner.

By researching and applying for a term life insurance online, you can quickly and easily learn how much coverage you need, get an idea of how much the policy will cost, and start coverage that same day—all from the comfort of your own home. For those who prefer digital services, buying life insurance online can be a transparent, simple way to get financial protection for your loved ones.

Here’s what you can expect should you choose to enjoy the paperless, hassle-free process of a life insurance online application.

A simple way to calculate your life insurance needs

If you’re in the life insurance exploration phase and figuring out your coverage needs, a life insurance calculator provides a simple, straightforward way to estimate how much coverage you should buy. An online insurance calculator will take into consideration your age, debts, income and family structure to provide a term length and face amount recommendation that’s appropriate for you. The calculator will even tell you if you don’t need coverage at this time.

Our life insurance calculator at Haven Life takes into consideration:

• Replacing your after-tax income
• Childcare for kids until they are 18
• The cost of your children’s college education
• Health care costs for a non-working spouse
• Debts that need to be paid off, such as a mortgage or other cosigned loans
• Social Security income, if eligible
• The cost of a funeral and final expenses

The amount of coverage you purchase (called a face amount) is the sum of money your family would receive as a death benefit if you passed away. The beneficiary (or beneficiaries) you choose can use the policy payout for a number of financial needs – to help cover funeral expenses, meet day-to-day living expenses, plan for the future, or cover the costs of caring for your children, to name a few.

An online life insurance calculator does the math for you to figure out what amount of coverage is needed to help financially protect your family.

An honest look at how much life insurance will cost you

For much of the industry, it’s standard to lead with initial life insurance quotes that are based on a simple, self-reported statement of health. While a quote gives you an idea of how much a life insurance policy will cost, it doesn’t take into consideration any health information or medical conditions that a life insurance company might consider in underwriting.

Now that there are simple solutions for buying life insurance digitally, you can easily apply online to receive a personalized-to-you estimate for your insurance premiums — or even a final rate– within 10 or 15 minutes. And if approved for coverage, you can have your policy in place immediately.

Starting with a life insurance quote made sense when the manual underwriting process took a couple months to determine your eligibility and final pricing. But now, real-time underwriting provides more transparency into the cost of life insurance than ever before. So if you want to know the real price for term life insurance, fill out a simple online application.

An easy, online term life insurance application

Haven Life, which is backed and wholly owned by leading life insurer MassMutual, has created a dynamic, online experience for buying term life insurance. The application will ask you only the questions that are really necessary to determine your eligibility and premium pricing for a term life insurance policy.

During the online life insurance application process, you will be asked about your lifestyle, personal medical history and family health history. Haven Life then fact checks it with third-party vendors like the Medical Information Bureau, DMV, and Social Security Administration to ensure all is accurate. This isn’t any more information than is required by other insurers; it’s just analyzed in real-time instead of over the course of several weeks.

This fast-and-convenient application processing is how Haven Life can provide an immediate decision on coverage eligibility. It’s a true anywhere/any device life insurance process.

Sometimes, you’ll need a life insurance medical exam

The only part of the life insurance buying process that may not be online is the medical exam. For medically underwritten term life insurance coverage, which is usually the most affordable type of policy, a medical exam is often needed.

Some qualified, healthy Haven Term applicants up to the age of 59 may be able to skip the medical exam entirely through the InstantTerm process. Keep in mind: it’s very important to be honest when completing the application. The issuance of the insurance policy or payment of benefits depends on the truthfulness of answers in the application.

Once an online life insurance application is submitted, you will be notified whether a medical exam is needed to verify that your health is as reported in the answers provided. If a medical exam is needed, you’ll have up to 90 days take it and are usually covered during that time. Once we get the medical exam results back, you’ll receive a final offer.

If a medical exam isn’t needed, you’ll receive a final offer upon submission of your application, and once you e-sign, you’re done. No phone interviews. No faxes. No nothing. You’re done. Give yourself a pat on the back for helping to protect your loved ones financially.

Coverage backed by a leading life insurer

So what sacrifices do you have to make for all of these conveniences of digital life insurance? Well, none. Term life insurance coverage is still cost-effective and the insurance policies are backed by leading life insurers.

When shopping for life insurance, it’s always important to research the third-party ratings and customer reviews of the life insurance company that issues your policy as well as the agency selling it. You want to ensure you are purchasing from a reliable insurance company. Life insurance company ratings provide you with a valuable insight into financial strength and claims-paying ability. As for customer reviews: that’ll indicate if the buying experience and customer support will live up to your expectations.

The Haven Term policy sold by Haven Life is issued by MassMutual, an A++ rated insurer by A.M. Best. As of April 2020, Haven Life also has a 4.8 out of 5-star rating from its customers via Trustpilot. Because Haven Life is backed and wholly owned by MassMutual, it is able to offer high-quality life insurance coverage, affordable pricing, and a streamlined buying experience.

Life insurance that’s actually simple

As with many of the online goods and services we purchase, with the right amount of friendly customer support, buying life insurance online is something that can be done confidently and conveniently.

When you’re ready for peace of mind, you can get started here.

No time like the present …