Monthly Archives: October 2025

How Is The Death Benefit Disbursed?

Life insurance in Lakewood can help cover funeral expenses and provide financial stability for families after the loss of a loved one. Understanding how the death benefit works is essential to know what to expect.

Beneficiaries

While the policyholder is alive, they can designate beneficiaries to receive the death benefit. Beneficiaries can be anyone the policyholder chooses, including friends or family members. Typically, the insurance company requires the beneficiary’s birthdate and Social Security number to ensure the benefit is distributed to the correct person. The specific information needed may vary by company, so it’s important to consult Colling Insurance Services Inc. to confirm the requirements.

Disbursement

After the policyholder passes away, it’s crucial to notify the insurance company promptly. If the policy was obtained through the policyholder’s workplace, you may need to inform their employer as well. The insurance company will usually verify the death before proceeding with the disbursement.

In cases where suspicious circumstances arise, such as an ongoing murder investigation, the company may delay the disbursement to ensure the death was not caused by foul play. This precaution is standard practice and not a personal judgment.

Once verification is complete, the death benefit is typically disbursed within a few weeks. However, the exact timeline can vary depending on the company. To get a clearer understanding of the timeframe, speak with an agent at Colling Insurance Services Inc.

Most companies deposit the funds directly into an account that beneficiaries can access immediately. Alternatively, some companies may send a check if preferred. The method of disbursement depends on the company and the policyholder’s preferences.

Life insurance policies and procedures can change over time, so it’s important to stay informed. Contact Colling Insurance Services Inc. today to learn more about life insurance options. We are located in the Lakewood, CO area.

The Future of Medicaid and Long-Term Care

Older adults who require long-term care often need to reduce their assets and rely on Medicaid to cover expenses. However, with current and potential future changes to Medicaid, access to the program for long-term care may become uncertain. In Lakewood, CO, long-term care insurance obtained through a broker like Colling Insurance Services, Inc., can help alleviate concerns about Medicaid.

Medicaid Is Still Available Now, but What About the Future?

Medicaid has long been a primary source of financial support for long-term care. However, budget cuts and the possibility of significant changes to the program mean that individuals must consider alternative ways to pay for care if Medicaid coverage becomes insufficient or unavailable. While some families may consider caring for older relatives themselves, the reality is that caregiving can be an overwhelming drain on both mental and physical resources, as well as financial resources.

Your family may not be equipped to provide the level of care required if your health demands professional or intensive support. In such cases, elder care facilities, including assisted living, memory care, or nursing homes, often become the safer and more practical option. However, these facilities are significantly more expensive than staying at home, raising the question of how to cover the costs.

Many people reduce their assets to qualify for Medicaid, which can help pay for residential care. But if Medicaid coverage is reduced or eliminated for long-term care, you’ll need an alternative plan to protect your financial future.

Long-term care insurance can cover a substantial portion, or even most, of the costs associated with long-term care, depending on the policy. While coverage limits may apply, working with a broker like Colling Insurance Services, Inc., in Lakewood, CO, can help you find a policy tailored to your projected care needs. This approach allows you to safeguard your assets while ensuring access to quality care.

Contact Colling Insurance Services, Inc., today to explore long-term care insurance options and secure your future. We proudly serve the Lakewood, CO, area.