BINGHAMTON, N.Y., Jan. 21, 2016 /PRNewswire/ -- Security Mutual Life Insurance Company of New York announced today that it is providing insurance advisors who market its life insurance and annuity offerings access to Social Security analysis software. This easy-to-use software 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 claiming options with their clients and contacts.
James Kerwin, Security Mutual's Chief Marketing Officer, commented that "Security Mutual agents have been asking for software tools that will better enable them to talk with their clients and contacts about issues that they face." Kerwin observed that most agents over age 55 have specifically asked for Social Security analysis software, which reflects the importance of Social Security claiming options as a topic to millions of baby boomers.
Security Mutual's Social Security software reflects the Bipartisan Budget Act of 2015, which eliminated some of the popular claiming options that had been available to some married couples, such as the file and suspend and the restricted application Social Security strategies. George Kozol, JD, LLM, a Security Mutual marketing executive, noted that while the recent legislation will negatively affect some couples and divorced individuals, "... it does not lessen the importance of making sound Social Security choices... choices based on financial analysis not just on emotions." Kozol noted that Security Mutual's Social Security analysis software facilitates informed conversations about claiming options.
The Security Mutual marketing team welcomes the opportunity to provide an online demonstration of the Social Security analysis software to independent insurance advisors.
All information provided from the calculator is intended to be accurate and timely; however, Security Mutual does not guarantee its accuracy.
About Security Mutual Life Insurance Company of New York: Now more than 128 years old, Security Mutual Life continues to fulfill the mission upon which it was founded in 1886: to provide sound, equitable and competitively priced insurance products to help protect people against the financial hazards resulting from death, disability, or retirement. As a mutual insurer, the company operates for the benefit and protection of its policyholders. The company has more than $2.67 billion in assets and $31 billion of life insurance in force. Security Mutual employs more than 325 employees at its home office in Binghamton, New York, and distributes its products through a network of more than 5,000 independent agents located throughout the United States. Security Mutual is licensed in all 50 states, as well as in the District of Columbia and the U.S. Virgin Islands.
SOURCE Security Mutual Life Insurance Company of New York