Quilt

AgeUp, developed by Haven Life Insurance Agency and issued by MassMutual, offers a unique financial product designed to address the financial challenges of living into one's 90s and beyond. Operating in the insurance and retirement planning market, AgeUp provides longevity annuities, also known as deferred income annuities (DIAs). These annuities offer secure, guaranteed income starting at age 90, shielding retirees from market volatility and ensuring financial stability in their later years.

AgeUp primarily serves individuals approaching retirement age, as well as their families who are concerned about long-term financial security. The product is particularly beneficial for those who may outlive their savings and require a reliable income stream in their advanced years.

The business model is straightforward: customers choose their own premium payments, starting as low as $25 per month, and in return, they receive a guaranteed income once they reach the age of 90. This income is designed to supplement other retirement savings and provide peace of mind. AgeUp makes money through the premiums paid by policyholders, which are then invested to generate the promised payouts.

Keywords: longevity annuities, deferred income annuities, retirement planning, financial security, guaranteed income, late retirement, market volatility, MassMutual, Haven Life, supplemental income.