The income laboratory for the pension income planning of software provider has announced the introduction of social security optimization tool and financial advisor offers a new way to support customers with strategies for social security.
The Income Lab realizes that many consultants only recommend waiting up to the age of 70 to claim social security benefits, but the new optimizer tool helps advise to agree to the demands of strategies to certain customer problems such as mortality risk, cuts and early retirement.
The company adds that the tool is the first module in Decision Lab, the new interactive interactive scenario management platform from Income Lab, which represents a series of pension income tools for retirement, which offer clear graphics that enable information and precise modeling of retirement scenarios.
“The council has been easy for years: waiting as long as possible to claim social security,” said Johnny Poulsen, CEO from Income Lab. “But what is optimal as a rule of thumb does not always reflect the actual goals or health considerations of the customers. Our optimizer of social security helps advisors to make this compromise clearly so that customers can step into their own conditions, with confidence and without their decision.”
In particular, the tool for the social security optimization of Income Lab offers a more personalized, customer -specific view of:
- Consideration both in the longevity and in the risk of death, which the consultants, instead of only taking over a longer lifespan, gives the opportunity to take a wide range of results into account, including what customers do not live in the 80s or 90s.
- Modeling early pension scenarios to evaluate customers, whether the acceptance of slightly reduced advantages for previous retirement and the earlier period can enjoy more years.
- The planning of the future political risk of enabling consultants, modeling possible results and preparing customers proactively should be effective in the next decade as projects for social security management.
“Customers ask better questions – and expect better answers,” added Justin Fitzpatrick, President of the income laboratory. “You may have preferred a real preference before 70. And this can be based on concerns about mortality or user cuts, or at the feeling that you would live with more trust every month.
The company plans to hold a webinar for live starts on June 10th.