Haven Life offering online underwriting in R.I.

PROVIDENCE – An online life insurance agency has expanded into 33 new states, including Rhode Island, offering speedy underwriting services to online users.
Haven Life Insurance Agency LLC initially launched in Massachusetts less than a year ago and with this most recent expansion now offers services in 42 states. The company claims its technology allows customers to apply and, if approved, begin coverage on a fully medically underwritten term life insurance policy in about 20 minutes. A process, the company says, would typically take about four to six weeks offline.
“Our technology provides customers with an improved solution for buying quality term life insurance,” said Yaron Ben-Zvi, co-founder and CEO, in a statement. “With this expansion into new markets, we’re proud that in just eight months, we’re able to offer this simplified, more approachable process to customers nearly nationwide.”
Ben-Zvi says the company, a subsidiary of Massachusetts Mutual Life Insurance Co., also has appeal to customers across generations, despite its online-only model, which typically plays well among younger consumers. A recent internal analysis of Haven applicants found the average to be 36 years old, he said.
“The reality is that our policyholders span across more than just the millennial demographic,” Ben-Zvi said.