Massachusetts Mutual subsidiary Haven Life, a digital direct-to-consumer life insurance agency, has announced a strategic partnership with Blend, a provider of cloud banking services.
The collaboration aims to provide a seamless experience to incorporate life insurance into the home purchase process.
“Buying a home is one of the most significant milestones and biggest investments in a person's life,” said Wade Seward, head of partnership distribution at Haven Life. “Partnering with Blend gives us the ability to enable new homeowners to seamlessly secure financial protection for their loved ones as part of a streamlined and efficient purchasing process.”
In 2022, approximately 66% of Americans owned their homes, with first-time buyers constituting 26% of this group. Most home buyers acquire mortgages, leaving only 23% of all US homeowners with homes that are fully paid off—making it the third-lowest percentage among 28 countries surveyed.
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Blend's digital mortgage software, integrated with major nationwide lenders, aims to streamline the lending process and reduce processing time. Through this partnership, Haven Life can offer life insurance coverage through Blend Insurance Agency, allowing homeowners to conveniently secure life insurance coverage at the time of home purchase.
“We are thrilled to partner with Haven Life to bring life insurance options to homeowners across the nation,” said Joe Perry, group manager at Blend Insurance Agency. “Haven Life's commitment to innovation and customer-centric solutions aligns with our mission to simplify and improve the homeownership journey from application to close. Together, we can give homeowners peace of mind, knowing their investment is safeguarded.”
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