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Millions of Americans will live into their 90s, but few can afford it. AgeUp helps fill in the financial gaps that come with a long life, starting at just $25 a month.
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In 2018, Haven Life Insurance Agency ("Haven Life") acquired insurtech startup Quilt and tasked the team with reinventing annuities to help everyday Americans. After months of talking to potential customers about their worries and unmet needs, a recurring theme emerged: people are concerned about supporting loved ones who outlive their resources. And despite the obvious need, there wasn’t an existing solution that addressed the problem head-on.
Given healthcare and lifestyle improvements, the number of Americans who live into their 90s is projected to more than triple by 2050.1 That's great news, but combined with declining savings rates and Social Security's uncertain future, it also means millions of baby boomers will need financial help in the coming decades.
AgeUp launched in late 2019 to help adult children support parents or other loved ones who live into their 90s. But that’s only half the story - in 2020, we launched a new version of AgeUp that lets baby boomers help themselves be financially prepared for a long and healthy life. Whether it’s you or someone you love, living past 90 is a great “problem” to have. AgeUp is an innovative longevity annuity that helps you be ready for the best-case scenario.
Haven Life Insurance Agency is an in-house startup, backed and wholly owned by MassMutual, that offers a simple online experience for buying high-quality and affordable coverage.
AgeUp is issued by MassMutual, a company that’s been in operation for more than 160 years.
MassMutual has been in business since 1851
Rated A++ for financial strength by A.M. Best4
Total assets of $279B in 2019