December, 2019 | 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

Borrowing Against a Life Insurance Policy

There is something that every young adult can do that will help them out later in life when they get older. They can get a life insurance policy that builds up cash value over time. If you think life insurance is only protection that helps other people after you are dead, you are wrong. Consider getting whole life insurance that builds cash value the longer you own it. Talk over the options with your agent at The Sanford Group, serving Ball Ground, GA and the surrounding area.

Building Cash Value

Life insurance with increasing cash value over time is like a treasure you build up for yourself. It can be very helpful to have this when you need it. You can borrow against the cash value at a very low-interest rate. There is no credit check and the paperwork is very simple because you have the cash value as collateral. 

By borrowing on the policy, you do not disturb the life insurance coverage, which continues. Also, the money you get is a loan and not income so it is tax-free. If you make a simple plan to get life insurance and have the premiums automatically paid, you can buy it and forget about it. Then, it will do its thing over time and be there if you need it. 

Benefit from the Incremental Process

Have you ever watched ants? They are tiny, yet strong. They can move a gigantic piece of something by breaking it down into tiny pieces and then marching along in a line one-by-one until the whole thing is moved. Put a big pile of sugar and watch them go to work. Go away for a while and when you come back it all will be gone. This is the incremental process.

The same thing happens when you buy life insurance that builds cash value, especially if you are a young adult. It slowly, but incrementally, builds up cash value, which is like having a secret pile of sugar to enjoy.

Contact your agent at The Sanford Group in Ball Ground, GA to get a quote for life insurance and start putting the incremental process to work for your benefit.

Four questions to ask before you purchase commercial insurance

Commercial insurance is essential for business owners because it protects their livelihood.

It’s important that business owners put adequate research into selecting a commercial insurance policy. At The Sanford Group, we’re here to answer any questions that Ball Ground, GA business owners have regarding their commercial insurance. 

The following are four important questions to ask when you’re looking for the right commercial insurance coverage for your company’s needs: 

Which types of commercial insurance does my company need?

There are numerous types of commercial insurance to consider. These include commercial vehicle insurance, general liability insurance, professional liability insurance, and worker’s compensation insurance.

You should know what all the various types of commercial insurance are and determine which you need for your company.   

How much are my company’s assets worth?

Once you figure out which types of insurance you need, you also need to put thought into what your coverage limits should be. When determining your coverage limits, you should evaluate your company’s worth.

Ideally, you’ll want your commercial insurance to be able to compensate you for the entire value of all your company’s assets. This way, you’re not at risk of losing your company’s assets in the event of a severe accident. 

What are the coverage limits available to me?

You need to evaluate available coverage limits and the associated premium costs of selecting them for your policy. To determine the best coverage limits, you should figure out what your company’s possible liabilities are and how much your company could face in terms of expenses in the event of an accident. 

How much will coverage cost?

You need to factor the costs of your commercial insurance into your company’s budget. Make sure that your premiums will be affordable to your company and won’t cut into your company’s bottom line too much. 

If you’d like to discuss the available commercial insurance policies we have at The Sanford Group, get in touch with us. We’re happy to provide commercial insurance to Ball Ground, GA business owners. 

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