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Give your loved one a
happily ever after 90

AgeUp provides guaranteed income to help support a loved one who lives a long life.

AgeUp for my parent or loved one

Available for ages 50-75
howitworks

How AgeUp works
for my parent or loved one

Today

Begin contributing to AgeUp when your parent or loved one is between 50 and 75. Choose a flexible monthly premium as low as $25, and your loved one’s target age between 91-100 when you’ll begin receiving monthly payouts.

15+ years

Each monthly premium buys a slice of guaranteed income beginning at the target payout age. Over time, those slices stack up to become significant monthly payouts that last for the rest of your loved one’s life.

Future

When your loved one reaches the target payout age, you’ll get guaranteed monthly checks for the rest of his or her life. Your payouts are backed by MassMutual and can be used for anything that’s needed, with no restrictions.

A new take on longevity protection

AgeUp is a longevity annuity (sometimes called a deferred income annuity, or DIA). Similar to a pension or Social Security, longevity annuities provide a constant stream of future income to help ensure you won’t outlive your resources. With AgeUp, that income is backed by MassMutual and guaranteed to continue for as long as your parent or loved one is alive.
Chart/LongevityCreated with Sketch.Large one-time premium($10,000 minimum/$181,000 average)Can only be deferred until 85, resulting in smaller payoutsTypical longevity annuityFlexible monthly premiums starting at $25/moPayouts begin between 91-100, allowing for greater monthly income
Longevity

While AgeUp is a longevity annuity, it has two key differences compared to most others on the market:

Affordable for almost everyone

The minimum upfront cost for a traditional longevity annuity is $10,000, and the average initial contribution is $181,0001, but AgeUp is designed to be accessible to almost everyone. Instead of a single upfront payment, AgeUp lets you break the purchase into affordable monthly installments of as little as $25.

Longer deferral, larger payouts

AgeUp payouts start later than most longevity annuities, which allows for greater monthly income, dollar for dollar.

How can AgeUp guarantee lifetime income?

AgeUp payouts come from three sources:
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Premium repayment

A portion of each payout is your premiums being paid back to you.

Growth of premium

Your premiums are conservatively invested by MassMutual, and part of each payout represents interest income. However, MassMutual takes on all the investment risk – so even if markets underperform, your guaranteed income amounts from AgeUp are set in stone and will never fluctuate.

Longevity credits

Imagine a group of 10 friends are concerned about running out of money in retirement, so they each put $10,000 into a checking account, agreeing to split it evenly in 20 years. Unfortunately, only seven of them are alive 20 years later, so they each receive $14,286 instead of $10,000. The extra $4,286 each person received came from something called longevity credits (also known as “mortality credits”).

By dividing the funds among those who are alive, longevity credits allow groups of people to share the risk of outliving their retirement resources. They’re also an essential part of how pensions, Social Security, and longevity annuities can guarantee lifetime income.

Getting curious?

See how AgeUp can help with a quick online estimate.

How AgeUp compares

Longevity annuities like AgeUp are great for safeguarding against two major concerns: investment risk and longevity risk, or the chance of outliving your savings.
how ageup is different

Guaranteed return

Each slice of future income is locked in at the time of purchase, and your payout amounts are guaranteed by MassMutual, regardless of market performance.

Lifetime income

Unlike savings and other liquid assets that can run out, AgeUp provides guaranteed income that will continue for the rest of your loved one’s life - no matter how long that is.

On the downside, AgeUp isn’t liquid like stocks or savings accounts. There’s no early access to the money and no principal, so you should only consider AgeUp if...

  • Your parent/loved one is in pre-retirement or early retirement
  • Your parent/loved one is in good health
  • You can trade small monthly payments now for guaranteed income in the future
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Start talkin’

We know how hard that first step can be.

Get some quick tips on how to start the “money talk” with your loved one.

Frequently asked questions

See what other people are asking about AgeUp.

What if my parent/loved one doesn’t live to the target payout age?

When applying for AgeUp, you’ll choose from two “death before payout age” options. Which option you should choose depends on whether you’d rather minimize risk or maximize future income.

Death before payout age options:

Yes (Money back, but smaller payouts)
With this option, if you die before reaching the target payout age, 100% of the premiums you’ve paid until that point will be returned to your chosen beneficiary. However, your payouts will be smaller if you do reach the target payout age. (This is called Single Life Annuity - Death Benefit Prior to the Annuity Date in the contract and illustration.)

No (Larger payouts, but no money back)
If you select no, your payouts will be higher if you and your loved one are alive when he or she reaches the target payout age, but there’s no refund if either of you die before then. (This is called Single Life Annuity - No Death Benefit Prior to the Annuity Date in the contract and illustration.)

What if I die after my parent/loved one reaches the target payout age?

If both of you are alive when your loved one reaches the target payout age, if you die, your designated beneficiary will receive the AgeUp payouts for the rest of your loved one’s life. The beneficiary can be your spouse, another family member, or your parent him/herself.

AgeUp also comes with a Cash Refund Guarantee. That means that once your loved one reaches the payout age, you’re guaranteed to get back at least what you paid in. For example: If you paid a total of $15,000 in premiums, but your loved one dies after receiving only $2,000 in payouts, you would get a check for $13,000. This is true no matter which “death before payout age” option you choose.

How are payouts determined?

In addition to the death before payout age option you choose, the most important pricing factors are (all else being equal):

Premium amount
The larger your monthly premium, the higher your payouts.

Payout age
The higher the target payout age, the more each monthly payout will be. (In the same way that delaying Social Security retirement will increase the monthly benefit.)

Loved one’s age today
The younger your loved one is when you start AgeUp, the larger the payouts will be. That’s because 1) you’re paying premiums for a longer period of time, and 2) the premiums have more time to mature.

Gender
Women have longer life expectancies on average, so the payouts will be slightly higher for men than women if all else is equal. However, some states require uniform pricing regardless of gender.

Interest rates and other pricing factors
Each time we collect a monthly premium, we guarantee a future associated increase in monthly annuity payout amount that will never fluctuate. However, the amount of income you’ll receive for each monthly annuity payout depends on the projected interest rate environment and other pricing factors at the time of each premium.

Can I cancel my plan or change my monthly payment later?

Yes and yes. You have 10 days after each premium payment to cancel it for a full refund. You can also cancel or change the amount of future payments at any time, or pause AgeUp payments if money is tight, then start again when your finances improve.

It’s important to note that previous payments are locked in after 10 days, so the money you’ve paid will stay in effect until you reach the target payout age. (Or until death, if “yes” is selected for the “death before payout age” option.) AgeUp is designed for the long haul, so we’d recommend you think carefully before buying.

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