Table of Contents
Haven life
Key features: 100% digital, 100% no medical exam, and coverage amounting to up to 1 million dollars.
| Type | Haven term | Haven simple |
| Mass Mutual | Medically underwritten | Simplified issue |
| Issued by | Tax-free lump sum | C.M. life |
| Application | digital | digital |
| Medical exam | possibly | no |
| Availability | nationwide | N.A to CA, DE, SD, ND, NY residents |
| Price | 10.68$/ month | 14.64$/ month |
| Terms | 10,15,20,25,30 | 5,10,15,20 |
| payout | Tax-free lump sum | Tax free lump sum |
Guardian life
Guardian Life Insurance Company of America is a mutual insurance company that has paid dividends since 1868 and is expected to pay 1.2 billion dollars to policyholders in 2023. Policyholders have two options term life insurance and Permanent life insurance.
Guardian term life insurance:
Term life insurance with terms 10, 15, 15, 20, and 30 years. Estimates of premiums can be taken from the official website.
Guardian permanent life insurance:
It is basically a survivorship policy typically for married couples. Death beneficiary paid to a beneficiary with increased cash value. More coverage can be added for the initial years of the policy. Guardian Life also offers whole-life policies to healthy people living with HIV. This policy is ranked 7 out of 22 in J.D. Power 2022 U.S. life insurance study.
New York life
This insurance company offers two plans, a yearly renewable term plan, and a level premium term plan.
Yearly renewable term plan
It is suitable for people looking for lower initial costs and conversion to a permanent policy soon. Premium is lower initially and then grows gradually.
Level premium term plan
This is suitable for those looking for fixed predictable payments. Lock in period is 10, 15, 20 years. After the premium period is over. One has to pay annually increased premiums to keep coverage.
These policies offer the facility of the following three riders;
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- Spouse’s Paid-Up Insurance Purchase Option Rider
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- Disability Waiver of Premium
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- Living Benefits Rider
Pacific life
Offers popular Pacific elite term plan. This plan is a level premium term plan and comes with an attractive conversion benefit.
Key features
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- Death benefit protection that is tax-free with competitive premiums for 10, 20, and 30 years with a face amount band of .75$ to 1$ million,1 $ to 3 $ million, and 3 $ million respectively.
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- Conversion benefits include converting the elite plan to a Pacific life cash value life insurance policy for up to 10 years and the addition of conversion credit to the new policy as an extra benefit.
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- Offers easy underwriting compared to other competitors by giving lesser invasive methods.
Extra protection
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- Terminal illness rider: Up to 0.25$ million or 75% of policy whichever is less if diagnosed with a terminal illness
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- Waiver of premium rider: waivers premiums if the insurer becomes disabled before the age of 65
Mass Mutual
Offers liberal term conversion plans with the opportunity to receive dividends. Screening doesn’t require a medical exam. Being a vast company very few complaints are registered and have a high financial strength rating A++ financial strength rating from AM Best which is top grade. However, they still do not accept online credit card payments.
Average monthly term life insurance rates MassMutual Term, $100,000 coverage, 20-year term insurance, excellent health:
| Age at purchase | Male | Female |
| 25 | 10.36$ | 9.66$ |
| 35 | 10.79$ | 9.84$ |
| 45 | 17.93$ | 15.06$ |
| 55 | 39.24$ | 29.24$ |
| 65 | 111.80$ | 76.39$ |
Northwestern Mutual
United States’ largest insurance company with a 9.5% market share. Has an A++ rating by AM Best for consumer satisfaction, fewer complaints, and higher financial stability. The company was founded in 1985. The company is owned by its policyholders, who participate in profits via dividends. Dividends have been paid every year for over 150 years.
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