Monthly Archives: October 2019

Understanding the Different Types of Life Insurance

The main advantage of a life insurance policy is, of course, its death benefit. This feature protects our families in the event that a breadwinner or caretaker dies unexpectedly leaving a family behind. But did you know that there are also life insurance policy types that provide living benefits as well? If you are looking for a way to meet major financial obligations than it’s time to take a look at whole life, universal, and variable life. Term life is a good option for families and individuals looking to cover their estate and funeral costs and is the appropriate choice in many situations. The team at Colling Insurance Services Inc. wants the greater Lakewood, CO community to know about all of the different types of life insurance in order to help them determine which is the right fit for their needs.

Different Types of Life Insurance

  • Term – this is the most basic type of life insurance and offers a death benefit equal to the policy level typically over a term of up to 30 years. There are no additional benefits.
  • Whole life – offers a death benefit as well as a cash value that can be accessed during life. Earns interest over the life of the policy at a rate established at the time of the policy purchase.
  • Variable life – can increase at a rate determined by the insurance company, however, there is no guaranteed policy cash value.

Is it time for you to consider life insurance with more features than just a death benefit? The helpful agents at Colling Insurance Services Inc. are here to guide residents in the greater Lakewood, CO area in their quest to find the right policy for their needs. Call or stop by today!

When is the best time to buy long term care insurance?

If you plan on retiring in Lakewood, CO, you may be looking at your options already. Many people have heard of long term care insurance, but don’t know a lot about it. If you have questions, our agents at Colling Insurance Services Inc. can help.

Why Get Long Term Care Insurance? 

You may be hoping to leave some of your assets to loved ones or continue to use the money yourself. Long term care insurance provides a way to protect those assets. You can get care where you want without risking all of your own money. 

When Should I Purchase My Long Term Care Policy? 

As with other kinds of insurance, you can save money by getting a policy as early as possible. Your premiums will be less every month if you take advantage as soon as possible. 

Another important consideration is that about two out of five individuals who need long term care are working adults between the ages of 18 and 64. Long term care doesn’t just help older people; it can help in other situations when you end up needing long term care. Most people think they won’t need help until they are older, but due to illness or accidents, sometimes they need help earlier. 

It’s Never Too Early 

When you purchase your long term care insurance through Colling Insurance Services Inc., we will help you choose the best features to fit your needs and help you look for any eligible discounts. If you live around Lakewood, CO and are thinking about purchasing long term care insurance for yourself or a loved one, please feel free to call today.