| AgeUp Details | |
| Product Name | AgeUp |
| Min. Premium | $25 |
| Fees | Not published |
| Annuity Type | Death Benefit and lifetime income |
| Age Payouts Begin | 90-100 |
The AgeUp annuity is designed to address the income gap caused by low social security benefits and thus benefiting older adults in their 90’s (90-100 years old)
With AgeUp, you can provide financial security to your loved ones in their elder years while avoiding the high fees and minimum payment requirements that have earned annuities a negative reputation. To discover more about how these annuities function, read our entire AgeUp review.
What Is AgeUp?
AgeUp is a cutting-edge deferred income annuity that aims to make life easier for those over the age of 90. This annuity is easy to purchase and builds up a guaranteed income stream for loved ones over time.
With low monthly payments that can be customizable and a significant death benefit, this annuity can be a cost-effective and secure way to help relatives enjoy the latter years of their retirement.
Haven Life publishes it, and its parent company, MassMutual Life Insurance Company, issues it. MassMutual has been in operation since 1851 and is ranked A++ by A.M. Best insurance rating firm for financial strength. Haven Life is well-known for its low-cost term life insurance.
Features Of Ageup
AgeUp is a company that offers deferred income annuities. You will ensure a stable income stream for your parents (or loved ones) if they live into their 90s by buying a policy.
AgeUp is designed to complement, not replace, retirement income. As a result, AgeUp is much more manageable than most other annuities, which often require a $10,000 initial investment. Monthly payments start at $25 per month.
AgeUp offers two types of purchases: death benefit and lifetime gain.
- The death benefit option pays out a lower monthly sum and will pay all returned contributions if Your parent dies before reaching the payout age.
- The lifetime income alternative pays a higher monthly fee, but you’ll lose your refund if your parent dies before the payout age you choose.
After you’ve acquired the insurance, you won’t be able to alter your mind about the death benefit or lifetime income. Your monthly premiums, on the other hand, can be increased, decreased, or paused.
How To Sign Up At Ageup?
You can sign up at https://age-up.com. AgeUp is currently available in 44 states. If AgeUp is not yet available in your state, you can join the waiting list by clicking here.
How to purchase an AgeUp Annuity
AgeUp annuities are only accessible by Haven Life Insurance, and you can request a free quotation by consulting AgeUp’s website. But, first, you have to fill the following information in the online form:
- The postal code (to determine product availability)
- Relationship between the annuitant and the purchaser
- The actual age of the annuitant
- The annuitant’s monthly payments should begin when he or she reaches the age of retirement.
- The value of the monthly premium chosen by the purchaser
- If the buyer needs the death benefit insurance or not
AgeUp Application Process
Consumers interested in purchasing an annuity open an account and fill out an online application.
To apply for the annuity, you’ll need to provide some more information:
- To conduct automated monthly payments, you need to add your banking information.
- Contact information of both the purchaser and the annuitant have.
If authorized, the system immediately issues the annuity contract.
Are There Any Fees?
Fees are expected with the AgeUp annuity, as they are with any insurance policy. Unfortunately, AgeUp’s website does not presently provide a fee structure. However, you may discuss this with an AgeUp team member in detail to continue forward after obtaining your online estimate.
Pros/Cons
Is AgeUp The Best Option For My Parents?
Talking to your parents is the first step in deciding if AgeUp is suitable for your family. Find out their strategy, how long their retirement plans will last, and their potential goals.
If you have siblings, you can bring them up in this discussion as well. You will feel prepared and safe no matter what the years bring if everyone is on the same page — and has a plan in place for the future.
What if your parents live to be 90 years old? Rather than being stressed, you should celebrate and enjoy the extra time with them.
Offers (Promo Codes)
Email offer
Sign up for the Ageup email newsletter to receive updates on discounts and offers.
Ageup coupon code: By visiting AgeUp’s website and signing up for their email newsletter, you can get discounts, promo codes, and member promotions. In addition, customers will get deals and coupon codes frequently when they sign up for AgeUp’s newsletter
10% off
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Use these ageup rivals discount code to save up to 10% on life insurance (Active Today)
How To Get In Touch With Customer Service?
AgeUp can be reached at help@age-up.com or by setting up a one-on-one call with a team member. You can also chat at Age-up.com.
Final thoughts
First and foremost, we adore this concept. This alleviates a significant problem: running out of funds for retirement. This is a good backup choice, mainly as people live longer and the cost of living in the United States rises.
For many people, this would be a crucial peace-of-mind purchase for family and friends who may not have enough money to last 30 years or longer in retirement.
Seniors live longer lives, which can deplete retirement funds and leave them unable to meet personal expenses. AgeUp is a cost-effective way to intervene and resolve this issue for your parents or other family members before it becomes a problem.
The AgeUp deferred income annuity is simple to apply for and purchase, and it’s a good investment for seniors aged 91 and up who want a steady stream of income for the rest of their lives.
Also Read
FAQ
How To Get In Touch With AgeUp Customer Service?
AgeUp can be reached at help@age-up.com.
What Is AgeUp?
AgeUp is a cutting-edge deferred income annuity that aims to make life easier for those over the age of 90.