NEW YORK, Sept. 14, 2016 /PRNewswire/ -- After holding its breath for 483 days (but who's counting?) to sell policies in the Big Apple, Haven Life today announces that New York residents can officially buy its Haven Term policy.
Regulations in the life insurance industry are no joking matter for startups looking to disrupt the space. While these rules are rightfully in place for the financial protection of life insurance buyers, it makes it challenging for innovators like Haven Life to truly dismantle the existing model for buying a policy. It also makes it very challenging to expand rapidly into new states.
Before today, Haven Life was available in 42 states nationwide. The online life insurance agency, backed by Massachusetts Mutual Life Insurance Company (MassMutual), has been steadily adding on more states since its launch in May 2015.
The slower-than-desired expansion is due to the fact that in order to sell a life insurance policy, approval must be given on a state-by-state basis. And as we all know well, New Yorkers can be a tough nut to crack.
"Because we're based in New York, we're constantly asked when Haven Life will be available in our home state," said Yaron Ben-Zvi, Co-Founder and CEO of Haven Life. "Our New York-based employees and business partners are eager to buy policies, and our friends and family have been patiently waiting for this announcement. Launching in New York is a pivotal moment for us personally and as a business."
This approval in New York provides even more Americans with access to Haven Life's incredibly simple solution for buying quality term life insurance online.
For more information about the New York-loving life insurance agency, Haven Life, please visit https://havenlife.com.
ABOUT HAVEN LIFE
Haven Life is a tech-focused life insurance agency that offers a simple, affordable solution for buying fully medically underwritten term life insurance entirely online. We're transforming the typically time-consuming and confusing process of buying life insurance into one that's easier, faster and just plain better.
Haven Term is a Term Life Insurance Policy (DTC, ICC14DTC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111 and offered exclusively through Haven Life Insurance Agency, LLC
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SOURCE Haven Life