Haven life vs bestow life insurance is a comparison many online shoppers have searched for. Both companies built their reputations on fast, digital-first term life insurance. However, this matchup has changed significantly. Bestow sold its insurance carrier to Sammons Financial Group in 2024. The carrier was rebranded as Lantern Insurance Company.
As of August 2025, Lantern stopped accepting new applications. Bestow now operates solely as a B2B technology platform. Haven Life, on the other hand, continues selling term life through MassMutual. This guide compares both companies so existing policyholders and curious shoppers can understand the differences. If you are shopping today, Haven Life remains the active option.
Haven Life Vs Bestow Life Insurance: Quick Comparison
| Feature | Haven Life | Bestow (Lantern) |
|---|---|---|
| Issuing Company | Massachusetts Mutual (MassMutual) | North American Company for Life and Health |
| Company Type | Mutual | Stock (subsidiary of Sammons Financial) |
| AM Best Rating | A++ (Superior) | A+ (Superior) |
| JD Power Score | Average (rated under MassMutual) | Not formally ranked |
| NAIC Complaint Ratio | Below average (~0.20) | 0.00 (minimal complaint volume) |
| Policy Types | Term life (Haven Term, Haven Simple) | Term life only |
| Max Coverage | $3,000,000 | $1,500,000 |
| No-Exam Option | Yes (accelerated underwriting) | Yes (100% no-exam) |
| Conversion to Permanent | Yes (MassMutual whole life) | No |
| Dividend Payments | No (term policies do not pay dividends) | No |
| Currently Accepting Applications | Yes | No (stopped August 2025) |
The haven life vs bestow life insurance comparison reveals two very different approaches. Haven Life offers higher coverage limits and a conversion option. Bestow focused on speed and simplicity above all else. In most cases, Haven Life provides the more complete product. Its MassMutual backing gives it a clear financial strength advantage.
On the other hand, Bestow pioneered ultra-fast underwriting. Its 30-second approval process was unmatched. For example, many applicants completed the entire process in under five minutes. However, the lack of riders and conversion options limited its long-term appeal.
Policy Options: Haven Life vs Bestow
When comparing haven life vs bestow life insurance policy options, Haven Life offers more variety. Haven Term is the flagship product. It provides level-premium term coverage from $100,000 to $3,000,000. Term lengths include 10, 15, 20, 25, and 30 years. Haven Simple offers simplified-issue coverage from $25,000 to $500,000. It requires no medical exam and uses a shorter application.
Bestow offered term life insurance exclusively. Coverage ranged from $50,000 to $1,500,000. Term lengths matched Haven Life at 10, 15, 20, 25, and 30 years. However, Bestow had no simplified-issue product for smaller amounts. Neither company sells whole life, universal life, or indexed universal life directly. For permanent coverage, Haven Life policyholders can convert to a MassMutual whole life policy.
This conversion privilege is a major differentiator. Typically, you can convert during the first 10 years of your Haven Term policy. No new medical exam is required. Bestow offered no conversion option whatsoever. If your needs changed, you had to apply elsewhere from scratch. Many families also compare home insurance at Home Insure Guide since bundling life and home insurance is a common financial planning strategy.
Rates and Underwriting: Haven Life vs Bestow
The haven life vs bestow life insurance underwriting approaches differ significantly. Haven Life uses accelerated underwriting powered by real-time data checks. The system pulls prescription history, MIB records, and driving records. Healthy applicants often get approved without a medical exam. However, some applicants may still need a paramedical exam. The process typically takes 20 to 30 minutes.
Bestow took a purely algorithmic approach. Every application was no-exam. Underwriting decisions came in roughly 30 seconds. The system used MIB data, LexisNexis, prescription databases, and a soft credit check. This speed was Bestow’s biggest selling point. For example, you could have coverage in place within minutes of starting.
In terms of rate competitiveness, haven life vs bestow life insurance rates were generally comparable for healthy applicants. Haven Life rates tend to be competitive with other top-tier term providers. Bestow’s rates were slightly higher for some profiles. This is typical for no-exam policies. The convenience of skipping the exam comes at a modest premium. You can also compare auto insurance rates at Car Cover Guide since bundling auto and life insurance through the same carrier can save money.
Riders and Add-Ons Compared
Riders represent perhaps the biggest gap in the haven life vs bestow life insurance comparison. Haven Life includes an accelerated death benefit rider at no extra cost. This lets you access a portion of your death benefit if diagnosed with a terminal illness. Haven Life also offers a waiver of premium rider. This waives your payments if you become totally disabled. Rider availability varies by state.
| Rider | Haven Life | Bestow |
|---|---|---|
| Accelerated Death Benefit | Yes (included free) | No |
| Waiver of Premium | Yes (additional cost) | No |
| Child Term Rider | No | No |
| Accidental Death Rider | No | No |
| Term Conversion Privilege | Yes | No |
| Return of Premium | No | No |
Bestow offered zero riders on its policies. No accelerated death benefit. No waiver of premium. No conversion option. This was one of the most criticized aspects of the product. In most cases, buyers expect at least an accelerated death benefit rider. Many competing no-exam carriers include one at no cost.
Haven Life keeps its rider selection streamlined compared to traditional carriers. However, the two available riders cover the most important scenarios. The accelerated death benefit protects against terminal illness. The waiver of premium protects against disability. These features add meaningful value to the haven life vs bestow life insurance decision.
Financial Strength and Stability
Financial strength is where haven life vs bestow life insurance shows the clearest contrast. Haven Life policies are issued by MassMutual. Founded in 1851, MassMutual is one of America’s oldest life insurers. It carries an AM Best rating of A++ (Superior). That is the highest possible rating. MassMutual also holds AA+ from S&P and Aa3 from Moody’s. As a mutual company, it is owned by its policyholders.
Bestow policies were backed by North American Company for Life and Health Insurance. North American carries an AM Best rating of A+ (Superior). That is the second-highest rating category. It is a subsidiary of Sammons Financial Group. North American is a well-established carrier with strong financials. However, it does not match MassMutual’s scale or history.
Bestow itself was founded in 2016 in Dallas, Texas. It operated for roughly eight years before selling its carrier. The company raised significant venture capital. However, its pivot away from direct consumer sales raises questions for existing policyholders. Typically, existing policies remain valid and are serviced through Lantern Insurance. In most cases, the backing by North American provides adequate security for current policyholders.
Which Life Insurer Should You Choose?
Choose Haven Life if: You want term life from a top-rated carrier that is still actively selling policies. You need coverage above $1,500,000. You want the option to convert your term policy to permanent whole life later. You value having an accelerated death benefit rider included at no extra cost.
Choose Bestow if: You already hold a Bestow or Lantern policy and are evaluating your coverage. You prioritized the fastest possible approval when you applied. You needed a simple term policy with no extras. You were comfortable with no riders and no conversion options.
The haven life vs bestow life insurance verdict is straightforward in 2026. Haven Life is the clear winner for new applicants. Bestow is no longer selling policies. Even when both were active, Haven Life offered the stronger overall package. Its MassMutual backing, higher coverage limits, conversion privilege, and included riders made it the more complete product. Bestow’s speed advantage was impressive but came with too many trade-offs.
For anyone shopping for online term life insurance today, Haven Life remains one of the best digital options. The haven life vs bestow life insurance comparison now serves mainly as a historical reference. If you hold a Bestow policy, review your coverage needs. Consider whether a Haven Life policy might offer better long-term protection. Your existing Bestow policy remains valid through Lantern Insurance.
Frequently Asked Questions
Is Bestow life insurance still available for new customers?
No, Bestow stopped accepting new applications in August 2025. The company sold its carrier to Sammons Financial Group. However, existing policies are still active and serviced through Lantern Insurance Company.
Which company has better financial ratings in the haven life vs bestow life insurance comparison?
Haven Life wins on financial strength. Its policies are backed by MassMutual, which holds an A++ rating from AM Best. In contrast, Bestow’s backing carrier North American holds an A+ rating. Both are strong, but MassMutual’s rating is the highest possible.
Can I convert a Haven Life term policy to whole life insurance?
Yes, Haven Life offers a conversion privilege. Typically, you can convert during the first 10 years of your policy. The converted policy becomes a MassMutual whole life policy. For example, no new medical exam is required for the conversion.
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Official Sources & Resources
For verified information on life insurance ratings and regulations:
- AM Best (Financial Strength Ratings): ambest.com
- NAIC (Complaint Ratios): naic.org
- ACLI (American Council of Life Insurers): acli.com
- Insurance Information Institute: iii.org
- J.D. Power (Customer Satisfaction): jdpower.com
Content last reviewed April 2026. If you notice any outdated information, please contact us.