social security presentations & invitations...retirement social security benefits.1 it should...

Social Security Presentations & Invitations

Agents are giving presentations on Social Security.

Some agents offer a personalized Social Security report for those who attend. The client provides personal information as input for the software generated report.

Consumer meets with the agent to go over the report.

Agent pivots to retirement income conversation.

2Social Security Presentations & Invitations Presented by McHugh Consulting Resources, Inc.

2013

Insurance agents may provide information on Social Security to the public.

Insurance agents may not provide specific advice.

Insurance agents should refer consumers to the Social Security Administration and to a tax or legal professional for guidance on their own situation.

3Social Security Presentations & Invitations Presented by

McHugh Consulting Resources, Inc. 2013

What do we look for on Invitations and Presentations?



Return Address: Speaker’s title and who is inviting the consumer Use the Licensed Insurance Agent title Use the business name and address

Include the following disclosures: “Not affiliated with the US government or a government

agency”

“By responding to this invitation, you may be contacted by an insurance agent.”

“and insurance sales presentation” or “and annuity sales presentation” should follow words like seminar or workshop.



Numerous state insurance departments require this language.

When to use this language: If the presenter will discuss a specific insurance/annuity product or offer the

attendees the opportunity to purchase any insurance product If the event is to stimulate interest in insurance in general, and an attendee

will need to have a separate meeting with the agent where a specific insurance product may be discussed and/or offered for sale.

If using the words terms "seminar," "class," "informational meeting," "workshop" or substantially equivalent terms to describe the event

How to use this language: It must follow the word “seminar,” “workshop” etc. It must be in the same type size and font.



About the agent and his/her practice: Licensed insurance agent Specializes in helping clients with retirement income strategies. Disclosure: “Not affiliated with the US government or a government

agency.”

Avoid a bait and switch scenario, the attendees must know what to expect in a follow up appointment to discuss the social security report: They are under no-obligation to discuss retirement strategies with or to

do business with the agent. If they do want to discuss retirement income strategies, the conversation

may include discussion of annuities and life insurance products. That an insurance sale may be solicited at some point during the process if

applicable.



Avoid Scare Tactics

Complexity of filing scenarios. For example, if the presentation states: There are over 300 ways a married couple could take their

retirement Social Security benefits.1

It should also counterbalance that fact: While there are many filing scenarios for Social Security,

typically only a few apply to the unique situation of each consumer.



1 http://www.lifehealth.com/social-security-and-retirement-risk

Images Avoid anything that could give the impression that the

presentation is affiliated with the government, i.e. White House, Congress, Social Security Administration logo, Social Security Card, etc.

9Social Security Presentations & Invitations Presented by McHugh Consulting Resources, Inc.

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Vocabulary Maximize – this is considered an extreme term and could be

considered misleading or promissory. Instead of “Maximize your Social Security benefits” use

“Potentially increase” or “Seek to increase your Social Security benefits…”

Legal Subject Matter Expert Review



Hypothetical Examples Disclosure These characters are fictional and are not actual clients. Your own

decisions should be made in light of your own financial situation.

Not Government Affiliation Disclosure Not affiliated with the US government or a government agency.

Tax and Legal Disclosure This [piece/brochure/seminar/etc.] is designed to provide general

information on the subjects covered. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that < ______>, its affiliated companies, and their representatives and employees do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.



Ad Review Department(215) 230-7960

[email protected]

Ginny McHugh, President & [email protected]

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This presentation contains interpretations of laws and regulations regarding the referenced subject that are the opinion of the author. Every effort has been made to assure accuracy; however, no liability is created for McHugh Consulting Resources, Inc., by the information contained herein. Please consult your own legal counsel for guidance on specific issues you encounter to which this information may apply.

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