Our story begins with a mission
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 isn't an existing solution that addresses 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. In fact, a majority of millennials believe they'll need to help support their parents if they live very long lives.2
Your parents living into their 90s and beyond is a good problem to have, and an easy solution is here. AgeUp: an innovative new product that helps families prepare for the best-case scenario.
Brought to you by Haven Life Insurance Agency
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.
An innovative new annuity product is here
Click below to find out if AgeUp is right for you.
- The number of 90-year-olds in the U.S. is projected to grow from 2.75 million in 2020 to more than 8.5 million by 2050.
Source: U.S. Census Bureau, "90+ in the United States: 2006-2008," November 2011
- 51% of millennials believe they may have to financially support their parents if they live very long lives.
Source: "AgeUp Customer Survey," 2019
- Massachusetts Mutual Life Insurance Company (MassMutual) and its subsidiaries C.M. Life Insurance Company and MML Bay State Life Insurance Company are rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of July 1, 2019 and is subject to change. MassMutual has received different ratings from other rating agencies.