Borrowing Against a Life Insurance Policy | 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

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.

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