To keep your parrot healthy and happy, you should know the needs of the specific breed you have. If well cared for, some of these colorful companions have impressive life spans. Different types of amazons, macaws, and cockatoos have been reported to live longer than 60 years when cared for properly. Common Parrot Illnesses. Proper nutrition, veterinary care and your parrots mental health are key factures in the life span of your companion bird. Here are some approximate life spans for various species of common companion birds. NOTE: The larger the parrot the longer the commitment. Most of these birds require a lifetime commitment. Macaws 50 – 100 + Cockatoos 40.