Security Mutual Life Insurance Company of New York announced the release of an improved version of its Social Security Evaluator software.
The new version of the software incorporates an income tax feature, enabling the client to consider projected income tax exposures regarding his or her social security benefits. This new version requires only a few inputs.
The core software, which was released in February of this year, creates client-specific reports that list and describe various claiming options and that rank the same based on cash flows and present values of those cash flows.
The reports include colorful graphs and charts that advisors can use to discuss various options with their clients and contacts.
James Kerwin, Security Mutual Life’s Chief Marketing Officer, commented that the Social Security Evaluator software is one of a number of tools that Security Mutual Life offers to insurance advisors to assist them in reaching their target markets.
Kerwin added that Security Mutual provides the tools free of charge to eligible agents who market its life insurance and annuity offerings.
George Kozol, J.D., LL.M., a Security Mutual Life marketing executive, observed that in developing the new tax feature, Security Mutual strived for simplicity.
He noted that the Evaluator software, including the new income tax feature, can facilitate informed conversations between an insurance advisor and his or her clients about social security and post-retirement income tax issues.