In this article:
Buying a life insurance policy online may seem unrelated to some.
But assuming you are provided with the right tools, it can actually be quite simple to apply for a life insurance policy entirely online without setting foot in the office of an insurance agency or a coroner.
By searching and applying for an online life insurance term, you can quickly and easily learn the coverage you need, get an idea of how much the policy will cost and start coverage on the same day, all from the comfort of your home. For those who prefer digital services, buying online life insurance can be a simple and transparent way to get financial protection for loved ones.
Here's what you can expect if you decide to enjoy the paperless process of an online life insurance application.
An easy way to calculate life insurance needs
If you are in the life insurance exploration phase and are trying to understand your coverage needs, a life insurance calculator provides a simple and direct way to estimate how much coverage you should buy. An online insurance calculator will take into account your age, debts, income and family structure to provide a duration and a recommendation on the facial amount that is appropriate for you. The calculator will tell you even if you don't need coverage right now.
Our life insurance calculator at Haven Life takes into consideration:
Replacement of income after tax
Childcare for children up to 18 years
The cost of your children's college education
Healthcare costs for a non-worker spouse
Debts that need to be paid, such as a mortgage or other loans sold
Social security revenue, if eligible
The cost of a funeral and the final expenses
The amount of coverage you purchase (called the nominal amount) is the amount of money your family will receive as a death benefit. The beneficiary (or beneficiaries) you choose can use the payment slip for a variety of financial needs – to help cover funeral expenses, cope with daily living expenses, plan for the future or cover the costs of caring for your children, to name a few.
An online life insurance calculator provides you with the math to figure out what amount of coverage is needed to help protect your family financially.
An honest look at how much life insurance will cost you
For much of the industry, it is normal to conduct initial life insurance quotes based on a simple self-reported health claim. While a quote gives you an idea of how much a life insurance policy will cost, it does not take into account any health information or medical conditions that a life insurance company might take into account when signing up.
Now that there are simple solutions for buying a life insurance digitally, you can easily request online to receive a personalized estimate for your insurance premiums – or even a final rate – within 10 to 15 minutes . And if approved for coverage, you can have the policy immediately.
Starting with a life insurance quote made sense when the manual underwriting process took a couple of months to determine eligibility and the final price. But now, real-time subscription offers more transparency in the cost of life insurance than ever before. So if you want to know the real price of term life insurance, fill out a simple online application.
A simple online term life insurance application
Haven Life, which is backed and wholly owned by the leading life insurer MassMutual, has created a dynamic online experience for purchasing term life insurance. The application will only ask you the questions that are really necessary to determine your eligibility and the premium price 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 checks it with third-party vendors such as the Medical Information Bureau, DMV and Social Security Administration to make sure everything is accurate. This is no more information than that required by other insurers; it is just analyzed in real time instead of over several weeks.
This quick and practical application processing is how Haven Life can provide an immediate decision on coverage eligibility. It is a real life insurance process anywhere or in any device.
Sometimes, you will need a life insurance medical exam
The only part of the life insurance purchase process that may not be online is the medical exam. For term life insurance coverage under medical coverage, which is usually the most convenient type of policy, medical examination is often required.
Some qualified and healthy Haven Term candidates up to the age of 59 may be able to skip the medical exam entirely through the InstantTerm process. Remember: it is very important to be honest when completing the question. The issue of the insurance policy or the payment of benefits depends on the veracity of the answers in the question.
Once you submit an online life insurance application, you will be notified if a medical examination is needed to verify that your health is as reported in the answers provided. If a medical exam is needed, you will have up to 90 days to take it and you are usually covered during that time. Once the results of the medical examination are obtained, you will receive a final offer.
If a medical examination is not necessary, you will receive a final offer when you submit your application and, once you have made your electronic signature, you are done. No telephone interview. No fax No nothing. Are you done. Give yourself a pat on the back to help protect your loved ones financially.
Coverage insured by a major life insurer
So what sacrifices do you have to make for all these conveniences of digital life insurance? Well, nobody. Lifetime insurance coverage is still affordable and insurance policies are supported by leading life insurers.
When buying a life insurance, it is always important to research the third party ratings and customer reviews of the life insurance company that issues your policy and the agency that sells it. You want to make sure you buy from a reputable insurance company. The ratings of life insurance companies provide a valuable insight into financial strength and the ability to pay claims. As for customer reviews: this will indicate if your shopping experience and customer support will live up to your expectations.
The Haven Term policy sold by Haven Life is issued by MassMutual, an insurer rated A ++ by A.M. Best. In April 2020, Haven Life also got a 4.8 out of 5 stars rating from its customers via Trustpilot. Since Haven Life is supported and wholly owned by MassMutual, it is able to offer high quality life insurance coverage, affordable prices and a simplified shopping experience.
Life insurance which is actually simple
As with many of the online goods and services we purchase, with the right amount of friendly customer support, buying an online life insurance is something that can be done safely and conveniently.
When you are ready for peace of mind, you can start here.
No moment is like the present …
About Louis Wilson
Louis Wilson is a freelance writer whose work has appeared in a wide range of publications, both online and in print. He often writes about travel, sports, popular culture, fashion and men's care and more. He lives in Austin, Texas, where he developed an unbridled passion for breakfast tacos, with his wife and two children.
Read more from Louis Wilson
Our editorial policy Haven Life is a customer-centered life insurance agency that is supported and wholly owned by the Massachusetts Mutual Life Insurance Company (MassMutual). We believe that navigational decisions about life insurance, personal finances and general well-being can be pleasantly simple.
Our editorial policy Haven Life is a customer-centered life insurance agency that is backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe that navigational decisions about life insurance, personal finances and general well-being can be pleasantly 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 difficult if they adapt to your situation.
Haven Life is not authorized to provide 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 seek advice from their tax or legal advisors.
Haven Term is a term life insurance policy (DTC and ICC17DTC in some states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively by Haven Life Insurance Agency, LLC. In New York, the term Haven is DTC-NY 1017. In California, the term Haven is DTC-CA 042017. The term Simplified Haven is a simplified term life insurance policy (ICC19PCM-SI 0819 in some states, including NC ) issued by the CM Life Insurance Company, Enfield, CT 06082. The numbers and characteristics of the policy and driver form may vary by state and may not be available in all states. Our agency's license number in California is OK71922 and Arkansas 100139527.
MassMutual is rated by A.M. Best company like A ++ (top; top category of 15). The rating is from Aril 1, 2020 and is subject to change. MassMutual has received different ratings from other rating agencies.
Haven Life Plus (Plus) is the trade name for the Pilot Plus, which is included in the Haven Term policy and offers access to additional services and benefits at zero cost or at a discount. The pilot is not available in all states and is subject to change at any time. Neither Haven Life nor MassMutual are responsible for providing the benefits and services made accessible under the Plus Rider, provided by third party suppliers (partners). For more information on Haven Life Plus, visit: https://havenlife.com/plus.html
Read our information
You may also like it
Get our most read stories, twice a month
I helped answer my question. I can't believe even at a good price!
Simple process. Simple. It's a pleasure
Good customer service
Good experience overall
Unbeatable rate. Intuitive website. All in all great experience