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. 

How Jetski Insurance Can Protect an Owner in Georgia

If you live in the Woodstock, GA area, there will be plenty of opportunities to enjoy a nice hot summer day outside and on the water. If you enjoy being outside and enjoying recreational activities, getting a jetski could be a great option. If you are looking to purchase a jet ski, you should look into getting jet ski insurance. While this might not be the first thing that you think about when buying one, but jetski insurance can protect an owner in several different ways.

Gives You Protection for Liability

When you are going to buy and use a jet ski, you will get to have a lot of fun out of it. However, there is always a small risk that you could make a mistake and be at fault in an accident. If this was to cause property damage or bodily harm to another person, you could end up being held liable. When you have jet ski insurance, you will receive coverage for these situations.

Protects Your Property

While it is important to have liability coverage for your jetski, you also want to make sure that it is protected in the event of damage, theft, vandalism, or another situation that could cost you money for repair or replacement. When you have a jetski insurance policy, you will receive coverage for all of these risks and situations. This could end up saving you a lot of money. 

If you are looking to get jet ski insurance in the Woodstock, GA area, getting advice from a professional is very important. One company that can provide you with great advice for all of your insurance needs is Peter Laczko Insurance Inc. The insurance team at Peter Laczko Insurance Inc. will help you to build and choose a policy that will give you great coverage for all of your jet ski insurance needs. 

Do I need commercial auto insurance if my business only uses a few cars?

If your small business in Ball Ground, GA uses any automobiles for work-related purposes, you will need a commercial auto insurance policy. If the vehicle is in an accident, your claim could be denied if your insurance company found out that the automobile was being used for business purposes at the time. Your business could end up being responsible for paying for the damages.

At The Sanford Group, we can help you find the right kind of coverage for your needs. Here are some examples of times when you would need a commercial auto insurance policy:

  • If your business uses a vehicle to pick up or deliver goods, supplies, food, or even messages
  • If a vehicle is used as a taxi
  • When the vehicle is owned or leased by the business or registered to the business
  • If any of your employees use your vehicle for work-related purposes
  • When your business rents or leases a vehicle to someone else
  • If your vehicle has equipment permanently installed, such as ladder racks or toolboxes, that are used in the business
  • If your vehicle is equipped with other kinds of equipment used for your business
  • Or if you have any vehicles that have a gross weight of over 10,000 pounds, such as trucks or utility vehicles, or if the vehicles have a weighted load capacity of at least 2,000 pounds

Just like with a personal auto insurance policy, you will then have options about what kind of coverage you want. Liability coverage, collision coverage, and uninsured/underinsured motorists are just a few examples. If you want to speak about a policy to protect your Ball Ground, GA business, please call The Sanford Group today.

Times in Life When You Should Increase Your Life Insurance.

Live moves fast. There is a saying "the days are long but the years are short", and at The Sanford Group we will see our customers go from just starting out and purchasing their first car insurance policy to adding a home insurance, and then life insurance. Each change typically indicates a big change in the client’s life and it is interesting to see advancement through life from an insurance perspective. There are some milestones in life that go by that cause the need for an inspection of your current insurance policies. We want to help you stay protected, come what may. We serve clients in and around Ball Ground, GA.

Times When You Should Increase Your Life Insurance Policy

  • Tying the Knot. When you get married it is a good idea to purchase a life insurance policy to protect your spouse from additional stress if something happens. Even unmarried people should have a basic policy to cover funeral costs. 
  • Buying a Home. A home loan typically takes many years to pay off. Do not saddle your loved ones with figuring out how to take over mortgage payments in order to keep your asset, buy a life insurance policy with the specific purpose of covering the loan in the event of the worst. 
  • Having a Baby, or Another Dependent. Whether you are expecting a bundle of joy, taking on the children of a family member temporarily, or allowing your aging parents to move in, you will want to protect them from financial ruin in the case of your death with a policy that will cover the home and give them time to figure out their next steps in life.

Contact us at The Sanford Group if you want to learn more about life insurance or upgrade your current policy. We proudly serve Ball Ground, GA.

Does Life Insurance Cover Funeral Expenses?

Life insurance will cover a funeral, but "funeral insurance" is not one specific type of policy. There are actually a number of ways to get covered in Ball Ground, GA:

  • Naming a funeral director as beneficiary. A funeral director can be named as a beneficiary on a policy or as sole beneficiary of a smaller policy. This will allow for the insurance to go directly to covering funeral expenses.
  • Making arrangements with a family member. When laying out who will receive what in a life insurance policy, many will choose to enlist a family member to plan the funeral, with the understanding that the extra money they are receiving through the policy is expressly for that purpose. It is important to select a trusted family member for this option. Final arrangements can be difficult to enforce given that the policy holder has passed on.
  • Pre-need contracts. It is possible to sign a contract with a funeral home so that the final expenses, including burial plot, casket, and other funeral expenses are pre-arranged. In this instance it will be to the beneficiaries to pay these expenses from the policy when the time comes.

There are a number of options for paying for a funeral with a life insurance policy, and it ultimately comes down to the arrangements that the policy holder is comfortable making with their insurer, funeral director and family.

If you’d like to learn more and arrange a plan that works for you, get in touch with The Sanford Group. We can help to arrange the right plan to provide you with the peace of mind you want when buying life insurance.

How Commercial Insurance Can Protect Your Assets

Commercial insurance safeguards your business from major financial losses. Whether you own a building or lease office space, commercial coverage protects your physical assets. This can give you peace of mind in case the unexpected happens. It also protects your personal assets by covering circumstances outside your control.

Commercial insurance plans vary depending on your industry and where you live. However, insurance companies categorize coverage by the asset or event covered, so it’s relatively easy to find the coverage you need for your Ball Ground, GA business. However, agents at The Sanford Group can help you find the best policy for your situation.

Kinds of Items and Events Covered

Commercial insurance protects the future of your business. Basic policies cove losses from fires to explosions, as well as theft and vandalism. Depending on the risks in your area, different events may appear in your policy, including:

  • Building
  • Signage
  • Inventory
  • Furniture and equipment
  • Landscaping
  • Other assets

The exact items covered depend on your concerns and major risks to your business. For example, you can cover a fleet of company cars and get coverage to pay for unintentional damage to customer’s homes.

When you shop around for commercial insurance, keep the unique need of your business in mind. Before you call your insurance agent, make a list of everything you want to be insured. That is helpful when you come in to get a quote.

Call the Sanford Group with your questions on commercial insurance. Feel free to set up an appointment for a free quote or to sign up for a commercial insurance policy. You worked hard to get your Ball Ground, GA business off the ground and you show up every day to keep things running smoothly, let us help you protect your life’s works.

5 Tips For Talking To Your Kids About Your End Of Life Plans

Conversations about estate planning can be tough- especially when you’re talking to your kids. While it may be uncomfortable, it’s important to talk to your loved ones about your will, your end of life plans, and any special wishes you have for after you pass away. At The Sanford Group serving Ball Ground, GA, we help our customers create plans that allow them to discuss these issues with certainty and confidence. Here are some tips to talk with your kids about your end of life plans. 

– Know your kids and decide whether it’s a good conversation to have as a group or one on one. If your family is particularly close, it might be a good idea to have the conversation in a group setting. 

– Expect emotion on both sides. It’s normal for this to be tough. Having a hard time discussing the end of life plans means that you value your kids and the value you. Don’t try to stifle the emotion that goes alongside a hard conversation. 

– Listen. Your kids might have some ideas that you may not have considered, and it’s a good idea to be receptive to at least hear them out. 

No matter what your end of life plans, it’s important that you have a solid life insurance plan so that your loved ones aren’t burdened with the end of life costs. At The Sanford Group, serving Ball Ground, GA, we can set you up with an affordable policy that will ease your mind about your family’s role in your end of life plans. Stop in to see us today to chat about a policy that makes sense for your needs and budget.

Commercial Insurance All Businesses Need

If you just started a business or got hired to manage one, you probably know that you must have commercial insurance. Commercial insurance is not a single insurance policy. Instead, it is a category of policies.

Depending on the type of business, there are different insurance needs for particular circumstances; however, there are certain commercial insurance policies that nearly every business needs. Work with your agent at The Sanford Group, serving Ball Ground, GA, and the surrounding area, to determine the best solutions for your business that provide adequate coverage.

Here are the basic insurance policies needed by most businesses:

Workers’ Compensation

Under Georgia state law, any business with three or more employees (even if they are part-time) must have workers’ compensation insurance. If you are self-employed, workers’ compensation insurance is not required.

Even if not required by law, it is beneficial for all businesses to carry workers’ compensation insurance. If a worker is injured or killed on the job, the liability exposure for the business is limited. The worker gets standard benefits under the state’s workers’ compensation program. Without this coverage, the business has liability exposure that is unlimited.

Commercial Liability Insurance

Every business needs some general liability protection and some need professional liability insurance, such as healthcare workers, attorneys, accountants, contractors, and other licensed professionals.

Property Insurance

This provides protection for risks to any real or personal property owned or leased by the business. It offers protection for equipment, inventory, office furniture, and other property.

Commercial Vehicle Insurance

If the business owns any vehicles or uses any (even if only occasionally) for business purposes, there is a need for commercial vehicle insurance.

Business Interruption

This provides protection if any catastrophic event occurs that causes the business to stop operating. This is critical protection to keep an owner from losing his or her business by a sudden drop in cash flow due to circumstances beyond the owner’s control.

Specialty Coverage

Nearly every business needs cybersecurity coverage now because the risk of damage from a cyber attack is so great and so costly. Additionally, a business benefits from having an umbrella insurance policy to extend the policy limits of other coverage and to offer protection for things that are not covered in other policies, which may include discrimination, defamation, or sexual harassment lawsuits.

Conclusion

Every business needs to have basic commercial insurance coverage. Contact your agent at The Sanford Group in Ball Ground, GA to discuss your needs by calling 678-454-0661.

What You Need To Know When Calculating How Much Life Insurance Is Necessary

Life insurance is a great way to offer financial security for loved ones in the event of a covered death. Anyone who is interested in purchasing life insurance coverage must first figure out how much coverage they want to secure in addition to who the beneficiary is going to be before shopping for a policy. 

Calculating Life Insurance Needs

On average, a good number to use when calculating how many years you should provide financial support for surviving loved ones should be ten years. Of course, this number may fluctuate depending on each situation, but for people who need to have a figure in mind before shopping, ten years is a good point to estimate from. Include all of the surviving loved ones living expenses, including mortgage and even college if there are children benefiting from the policy. To get a more detailed figure, working with an experienced agent to get a clearer picture of needs is an excellent idea.

Getting The Right Amount Of Life Insurance Coverage

There is no wrong amount of life insurance protection, but it is wise to choose an amount that is rounded to the next highest amount of coverage that will provide security for ten or more years for the beneficiary. People who are considering a life insurance policy and live in or around the Ball Ground, GA area should contact The Sanford Group and let their experienced agents help arrive at a figure that will secure the future for loved ones. 

Anyone who has questions about life insurance coverage and who live in the Ball Ground, GA area can call or stop by The Sanford Group and speak with an agent to get additional details. Get the coverage necessary to have peace of mind.