December, 2017 | Blog
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The Sanford Group

10150 Ball Ground Hwy,
Ste 101,
Ball Ground, GA 30107

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  P.O. Box 374
Ball Ground, GA 30107

The Sanford Group Insurance Blog

At What Age Should You Consider Life Insurance

It’s important to start the conversation about purchasing life insurance as early as possible, even as early as birth. The truth is that life insurance appreciates as you grow older, so it’s best to start searching for options sooner rather than later. If you don’t already have a policy, contact The Sanford Group who serve the Ball Ground, GA area to get you started with coverage right away.

From Birth to 18 Years

One of the first things a parent will do after their child is born is purchase health insurance. In addition, you should get life insurance as well. While they’re minors, whole life insurance policies can be paid in advance. After the child’s 18th birthday, the policy can be transferred to them, so he or she can continue to fund the policy. If they choose to cancel it, the insured would receive a cash balance, if any equity were accrued.

College Students and Life Insurance

Generally, during the college years, you’ll start accumulating debt. With credit cards, car payments, and student loans, these debts can potentially be relieved with life insurance. If you die with a ton of debt, your family members will be left to settle your outstanding balances. Life insurance leaves money to diminish these burdens. Unfortunately, 18-35 year olds are not concerned with the future bills, so many don’t consider insurance until later.

Working Adults

On average, after the age of 35 is when many adults begin to think about acquiring life insurance. The cost of waiting any longer could increase your rates significantly. As you age, you’re more likely to acquire a serious medical condition that could impact your life insurance costs.

Start shopping around for life insurance today by visiting the agents near Ball Ground, GA at The Sanford Group.

Important Information about your health insurance plan that you need to know.

With open enrollment around the corner in Ball Ground, GA, it is essential for consumers to have an accurate understanding of your options so that you can make the best health insurance choices for you and your family.

The marketplace will open up on November 1 and close on December 15th, during that time you will be able to review plan options and decide if you want to keep your current plan or move on to a new one. There are a lot of different options to go through; please free to reach out to an agent at The Sanford Group to discuss the various plan options available to you.

The bronze level is the lowest level of coverage you can purchase. Typically these plans will cover 60% of your medical expenses while you will need to cover the other 40%. Bronze plans will have the lowest premiums but carry the highest deductible meaning you will be left paying out of pocket for most routine care.

The Silver plans are moderately priced plans and will come with a more moderate deducible. If you qualify for the extra savings, you will need a silver plan to claim the benefits.

Gold plans carry a high monthly premium but will cover about 80% of your expenses. Gold is a good option if you have a lot of medical needs.

Platinum plans have the highest premiums but provide the most coverage. Platinum plans are a good option if you want peace of mind that all your medical needs will be covered.

As you can see there a lot of option available, please feel free to reach out to one of our specialist at The Sanford Group. We proudly serve the Ball Ground, GA area.

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