Category Archives: Insurance

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.

I’m Young and Healthy, Why Do I Need Health Insurance?

When we are young and healthy, health insurance often feels like a low priority. If you’re feeling great and have no medical complaints, you might wonder why you should invest in a health plan. It’s a valid question. For our Lakewood, CO, community of young and healthy adults, the agents at Colling Insurance Services Inc. can explain the long-term benefits of health insurance that can positively impact your financial and physical well-being now and in the future.

Three Key Reasons Why Health Insurance Is Recommended for the Young and Healthy

Reduces Out-of-Pocket Costs

While your health may be stable now, unexpected accidents or medical illnesses can occur at any time. No one is immune, regardless of age. Without health insurance, the cost of treatments and medications becomes your sole responsibility, which can be financially overwhelming.

Protects Your Financial Stability

Paying for medical bills out of pocket can have significant and long-lasting effects on your financial health. Health insurance helps mitigate these costs, ensuring you don’t face financial hardship due to unforeseen medical expenses.

Supports Your Overall Health

Even if you feel well now, underlying medical issues can go unnoticed without regular check-ups. Health insurance allows you to maintain good health by scheduling routine appointments with your primary care physician. Preventive services ensure your doctor has an ongoing record of your health, enabling early detection and treatment of potential health concerns.

Contact Us

If you’re unsure whether getting health insurance in Lakewood, CO, is the right decision for you, call Colling Insurance Services Inc. We can discuss why securing health coverage while you’re young and healthy is a strategic move for your future. Contact us today to explore policy options tailored to your needs.

Does Dental Insurance Cover Emergencies?

Taking care of your teeth is an essential part of maintaining your overall health. Many people purchase dental insurance to help cover the costs of dental care. If you are near Lakewood, CO, our team at Colling Insurance Services Inc. can provide the information you need about dental insurance. We’ve been assisting clients like you since 1957.

Does Dental Insurance Cover Emergencies?

Even if you take excellent care of your teeth and visit your dentist regularly, dental emergencies can still happen. When they do, the cost of treatment is often the last thing on your mind. According to Legal Clarity, coverage for dental emergencies varies depending on the specific dental insurance policy.

Routine dental care, such as x-rays and exams, is typically covered by standard dental insurance policies. Many policies also offer a fixed amount of coverage for certain emergency procedures, such as tooth extractions or crown replacements. However, some policies determine coverage for unexpected procedures on a case-by-case basis. To avoid surprises, it’s best to review your policy’s provisions before an emergency occurs. If your current policy doesn’t meet your needs, one of our agents can help you explore new insurance options.

Call Us for Your Appointment Today

Dental procedures can be costly, but dental insurance can help ease the financial burden. Our team at Colling Insurance Services Inc. has the expertise and dedication to provide you with the insurance options you need. Clients in the Lakewood, CO, area trust us for excellent customer support. Call us today to schedule an appointment and discuss your insurance needs.

Is Umbrella Insurance Worth the Extra Cost?

Whether you are a homeowner or renter, having insurance is essential to protect your investment in property and valuable personal belongings. Umbrella insurance provides additional coverage when your standard policy’s limits are reached, offering protection for your assets in Lakewood, CO, in situations such as lawsuits. With assistance from our well-qualified and experienced agents at Colling Insurance Services Inc., we can help you determine if umbrella insurance is the right choice for your needs.

Reasons to Consider Umbrella Insurance

Homeowners typically carry homeowners insurance that covers their home and personal belongings. Renters of houses or condos may opt for renters’ insurance, which protects their personal belongings while the structure itself is covered by the owner’s or association’s insurance policy. Umbrella insurance acts as an extra layer of liability coverage that activates when your other insurance policies have reached their limits. This type of policy does not cover your personal property. Instead, it provides protection for unexpected events where you are held responsible, such as damage to someone else’s property or injuries to others.

When Umbrella Insurance May Not Be Necessary

Not everyone needs umbrella insurance. When you speak with an agent at Colling Insurance Services Inc., we will evaluate your situation, including your net worth, lifestyle, and current liability coverage, to help you decide if umbrella insurance is a worthwhile investment. For individuals with minimal assets and a low-risk lifestyle, umbrella insurance may not be necessary. However, if you have significant assets that could be at risk when your existing policy’s liability limits are exceeded, purchasing umbrella insurance is highly recommended.

Contact Us

If you live in the Lakewood, CO, community, contact our team to discuss any questions you may have about umbrella insurance and whether purchasing coverage is the right decision for you.

When Do I Need Additional Liabiity Coverge for My Boat?

Insuring your boat in Lakewood, CO is not required. However, most owners choose to purchase a policy, and many marinas require one if you plan to moor your boat there. Liability coverage is one of the most critical components of a boat insurance policy. Colling Insurance Services Inc. can help you determine whether your policy has sufficient limits to meet your needs and fully protect your investment.

What Standard Boat Insurance Policies Cover

Standard policies include liability provisions to cover costs if you cause a boating accident that results in injuries or property damage to a third party. Liability coverage also typically includes attorney’s fees and court costs. Most policies also offer uninsured/underinsured boater coverage, which can be invaluable if someone without insurance causes damage in an accident. This part of your policy is especially important because many boaters take advantage of the fact that boat insurance is not legally required.

When You Might Need Higher Liability Limits

Generally, the larger and more expensive your boat, the greater your need for additional liability insurance. However, other factors also play a role. High-performance boats with powerful engines can cause more significant damage, and the boat’s speed and intended use influence liability limits. For example, if you use your boat for commercial fishing or to take clients on fishing trips, you’ll need higher liability coverage. Similarly, if you frequently entertain large groups of people on board, consider increasing your liability limits. High-profile individuals also face a greater risk of being sued following a boating accident.

Consider an Umbrella Policy

While you can request a higher liability limit on your boat policy, getting an umbrella policy may be a better option. Umbrella policies provide additional coverage that kicks in after you’ve reached the liability limit on your boat insurance. Having an umbrella policy to cover your boat can make the difference between keeping and losing your investment.

Learn more about how you can protect your boat, its occupants, and visitors by contacting the staff at Colling Insurance Services Inc., serving Lakewood, CO. We’re here to help you find the right coverage for your needs.

Do You Need to Remove Someone from Your Life Insurance Policy?

Occasionally, the unthinkable happens. A trusted individual unforgivably betrays your trust. Perhaps they deceived you, stole from you, or did something that left a bitter taste in your mouth. Consequently, they’re no longer in your good graces, and you want them out of your life and your life insurance policy. It’s not enough to sever ties; you must take legal steps to ensure they don’t benefit from your demise. Otherwise, you might find yourself in a precarious situation, akin to a murder mystery game.

How to Remove Someone from Life Insurance

Firstly, removing an irrevocable beneficiary can be quite challenging. To do so, you need their written consent. However, if they’ve committed a crime, you might be able to get a court order to remove them. Otherwise, the process is straightforward. Contact your life insurance provider and request a change of beneficiary form. Fill it out, sign, date, and submit it. You might be able to do this online. Always confirm with your insurer that the change has been processed. You can then decide what to do with the share your former beneficiary would have received. Donating to a charity organization is a commendable option.

Colling Insurance Services Inc. – Your Trusted Insurance Agency in Lakewood, CO

If you reside in the Lakewood, CO, area and require life insurance, please contact us at Colling Insurance Services. We will connect you with a professional and friendly agent who is dedicated to helping you find the policy that best suits your unique needs.

Can Long Term Care Insurance Help Pay Home Health Aides?

Long-term care insurance is specifically designed to assist individuals who require long-term care. It can help cover the costs of care in various situations, but there are a few things you need to understand about the coverage.

Types of Long Term Care Options in Colorado

Long-term care insurance can help cover the costs of various types of care to ensure you or a loved one receives the appropriate care you’re comfortable with. Common situations covered include:

  • In-Home Care: Coverage can help pay for assistance with daily activities, in-home nursing care, housekeeping, and other tasks.
  • Residential Facilities: Long-term care insurance can also help cover the costs of stays in nursing homes.
  • Assisted Living Communities: Assisted living communities provide long-term care for residents who need help with daily living tasks but can manage many things on their own. Communities may provide laundry, housekeeping, and meal services, but residents have more freedom than in a nursing home. Many have their own apartments.

The type of care covered usually depends on the specific policy. Some policies have exclusions regarding what type of care they will cover or how much. Always speak with an agent at Colling Insurance Services Inc. to ensure you understand your coverage.

The Waiting Period for Long Term Care

It’s common for long term care insurance policies in Lakewood, CO to have a waiting period, also known as an elimination period. This is the period that must pass before the policy will cover the costs of care. Many people must pay out of pocket for expenses until it kicks in.

The coverage provided often depends on your specific policy, but agents at Colling Insurance Services Inc. can help you understand what’s covered. We can also help you find the right policy to meet your needs. Contact us today to learn more. We’re currently serving the Lakewood, CO area.

The Right Dental Solutions Offer One More Reason to Smile

Our smile is a powerful communicator and can significantly impact more than just our appearance. It’s often one of the first things people notice about us. That’s why many people strive for a radiant, white smile – first impressions can be pivotal. This desire for a beautiful smile is why many individuals and families in the Lakewood, CO area turn to the friendly and professional team at Colling Insurance Services Inc. for their dental insurance needs.

The Right Dental Insurance Solutions Can Brighten Your Smile

For many of us, our teeth and smile are often taken for granted. That is, until a problem affects our teeth or our confidence to smile. The good news is, in most cases, we can address any issues with our smile and teeth with quality dental care and a skilled dentist. The downside is that dental care can be costly. Fortunately, the right dental insurance can make a difference, giving us another reason to smile. This is why so many people and families in Lakewood, CO trust the team at Colling Insurance Services Inc. for all their dental insurance needs.

Dental Insurance for Lakewood, CO Area Residents

Do you live in or near the beautiful Lakewood, CO, area? Would you like to learn more about how Colling Insurance Services’ dental insurance solutions could benefit you and your smile? We can help. Contact us to find out more and schedule an appointment with our experienced and knowledgeable team today. Protect your smile with the dental insurance solutions you need from Colling Insurance Services Inc.

Going Into Business For Yourself? How to Choose Health Insurance

If you’re self-employed, securing health insurance is crucial. Selecting the appropriate health insurance policy is a significant decision. While insurance policies are available on the healthcare Marketplace, the experts at Colling Insurance Services Inc., servicing Lakewood, CO, can assist you in finding the perfect policy for your needs.

Numerous factors must be considered when selecting the right health insurance. Knowing what questions to ask and what to consider when choosing a policy is essential. Below, we’ve highlighted two key considerations.

Would You Prefer Higher Premiums or Higher Cost Sharing?

If you’re on a tight budget and prefer low premiums, you can often find a policy that fits your budget by opting for a higher cost-sharing option. This is a common choice for healthy individuals without families. If you’re a young entrepreneur with no concerns about incurring high medical costs in the near future, this may be the ideal insurance policy for you.

If you frequently have medical expenses or if you have a family, you may prioritize a policy that offers more comprehensive coverage and lower premiums. Your insurance agent can assist you in making this choice.

What is Your Income?

Your business’s annual income will also affect the cost of your health insurance policy. You’ll need to estimate your income. Your insurance agent can provide more information about how your income affects your health insurance costs.

Start Getting Help Today

Many people seek assistance in finding the right health insurance policy. The experts at Colling Insurance Services Inc., servicing Lakewood, CO, are here to help. Contact us today to get started with a health insurance policy that suits your needs.