October, 2020 | Blog
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10150 Ball Ground Hwy,
Ste 101,
Ball Ground, GA 30107

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Ball Ground, GA 30107

The Sanford Group Insurance Blog

Three questions to ask before you buy a life insurance policy in Georgia

Investing in life insurance is one of the most important things to do to ensure that the financial future of your family will be secure. We can help you meet your life insurance needs in Ball Ground, GA at The Sanford Group.

The following are three questions you should ask before you buy a life insurance policy in Georgia.

What different types of life insurance coverage are available?

There are numerous types of life insurance you should be familiar with before you decide which policy to buy. They include term life insurance, whole life insurance, and universal life insurance. 

Term life insurance is a good life insurance solution if you only need coverage for a pre-determined period of time like five, ten, or twenty years. If you want coverage that lasts for the rest of your life, opt for a whole or universal life insurance policy. 

How much life insurance do I need?

The amount of coverage you need depends on the needs of your dependents. You want your dependents to be able to maintain their current standard of living after you pass away. The more dependents you have and the longer your dependents will rely on you financially, the more coverage you’ll need to buy. 

What is a life insurance death benefit?

The death benefit is the amount your beneficiaries will receive if you pass away while your policy is still active. The higher your death benefit amount is, the higher your premium costs are likely to be. 

If you want to explore our life insurance options in Ball Ground, GA, contact us at Sanford Group. We’ll help you find the life insurance policy to meet the financial needs of your family. 

How does commercial property insurance work?

Commercial property insurance is an essential commodity in Ball Ground, GA. You especially need coverage if you own the land upon which your business sits. Many entrepreneurs in Georgia have commercial property insurance without understanding how such a plan works to benefit them. The Sanford Group can help you get the most out of your indemnity policy. 

What does commercial property insurance do?

Much like home insurance, commercial property insurance helps pay for damages to the structure as well as equipment inside used to conduct business. The best indemnity plans also pay for supplies and inventory lost or damaged under covered events. 

Some commercial property insurance plans cover lost or damaged property that does not belong to the policyholder. Such a perk is especially useful to entrepreneurs who lease equipment. You only need to show proof that the items are entrusted to your care to receive coverage from your insurance plan. 

How do commercial property insurance policies work?

There are essentially two types of commercial property insurance coverage options:

  • Replacement cost coverage, where your policy pays to repair or replace items with the same or comparable products; 
  • Actual cash value coverage, where your insurance plan pays the current value of the damaged item. 

Actual cash value may not be the best option if your company has a lot of electronics. You will only get the market value of the items, which may not be much. Replacement cost ensures that you receive new products to compensate for the loss of damaged or lost items. 

How much commercial property insurance do you need?

An insurance specialist at The Sanford Group can help you determine how much commercial property insurance your business needs to remain financially sound when the unthinkable happens in Ball Ground, GA. Call them today for a quote!

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