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AgeUp is a company provides adults with the ability to support their parents and or other loved ones with their financials. The company was founded by Blair Baldwin in 2019, in Boston, Massachusetts, United States.
The company's mission is to help people over 90 have an income and to be able to provide supplemental income to help them. AgeUp is considered a longevity annuity, or deferred income annuity. The minimum initial payment for AgeUp is $25 and customers make monthly installments. Payouts begin at age 91-100, and AgeUp also offers an optional death benefit and lifetime income.
The plan that AgeUp offers when starting payouts provides clients with $2,499 a month at age 95, and it gives them the option of paying $50 per month leading up to payout age instead of a one-time payment. AgeUp is backed by MassMutual, and is sold by Havel Life Insurance Agency, which is an innovation hub owned by MassMutual. The company offers its services online and is available for phone service.
