What Is Long Term Care Insurance?

Although it is probably not something you think about often, chances are at some point in your future, you may need assistance with your own care. Elderly care is an essential part of health and quality of life for many elderly people. Paying for this type of care is an important consideration. At Colling Insurance Services Inc, we want to help you understand all of the great insurance options you have in Lakewood, CO, and the surrounding areas. Keep reading to learn more about long-term care insurance.

What Is Long-Term Care Insurance?

Long-term care insurance refers to a specialized type of insurance coverage that will provide reimbursement for the expenses of long-term care for the elderly. Long-term care refers to any care you may need to receive as you age. This type of care can be provided in your home, in a nursing facility, or another type of assisted care facility. 

Who Should Consider Long Term Care Insurance?

Long-term care insurance is a smart financial investment for anyone concerned about how they will pay for care in the future. Although long-term care may be very far down the road for you, preparing for this type of service now will remove the stress and financial burden of paying for it in the future. This is a benefit both to you and to your family members who may be in charge of your care in the future. 

If you would like to learn more about long-term care insurance or any of the other insurance products we provide, please contact us at Colling Insurance Services Inc. serving Lakewood, CO and the surrounding areas. 

Tips on Buying Life Insurance

One of the most important types of coverage you can have is life insurance. While it is not something many people like to think about, unfortunately, death is a reality that can face anyone at any time. Life insurance helps protect your loved ones from hardship if anything happens to you. At Colling Insurance Services Inc., serving Lakewood, CO residents, we understand you want what is appropriate for your loved ones. To make this easier for you, here are some tips to help you when buying life insurance.

Understand The Types of Coverage in the Market

When you are buying life insurance, there are three basic types to choose from. That is term life insurance, whole life insurance, and universal life insurance. This all depends on your financial needs, position, goals, etc. Before deciding what is right for you, request the insurance agent to walk you through each coverage in detail. That way, you know if you are buying the right insurance product.

Evaluate What Your Goals Are

Before buying a policy, analyze what your goals are. People buy life insurance for different reasons. Some want the death benefits to replace their income once they pass away or to be used for funeral expenses. Others only want coverage for a certain period of time, for instance, when their kids are still depending on them or they are paying the mortgage. Look at your goals and then buy a policy that addresses those needs.

Select the Insurance Provider Carefully

A life insurance policy is as good as the insurance company providing it. You are buying a policy because you want to relieve some stress your loved ones will go through after your passing. So choose a reputable company that will not take your loved ones in circles.

At Colling Insurance Services Inc., we are dedicated to providing the right services to our Lakewood, CO residents. If you are looking to buy life insurance, contact us today. We can help you choose the right policy that meets your goals and help protect your loved ones.

Is Boat Insurance Needed in CO?

Boat insurance is not required in Colorado; however, this doesn’t mean that your finance lender will not require insurance or that you should skip having coverage. Generally speaking, if you financed the purchase of your boat, the lender will require that you carry boat insurance coverage till the vessel is paid off because this ensures that their investment in you is protected should an accident happen. In addition, storing your boat at a marina may result in the insurance being a requirement in your storage agreement. Regardless of whether or not it is required, boat insurance is a must. Interest in boating is exploding with accidents on the rise and boats are not an inexpensive investment. 

Factors that influence the annual premium can include the type of boat, the boat’s length if it is being used in a commercial capacity, where the boat is being stored, and the amount of coverage you purchase. Boat insurance policies can vary from one provider to the next, but typically coverage will include liability insurance that pays the costs associated with an at fault boating accident, comprehensive insurance for non-collision related damage, equipment insurance for things like fishing gear, GPS devices and towables, uninsured boater insurance to help pay for damages or medical expenses if another vessel hits your boat and doesn’t carry insurance. 

Having a boat insurance policy can save you substantial money if there’s an accident and having a professional like the team at Colling Insurance Services Inc in Lakewood, CO by your side will help you find the best coverage possible. Give Colling Insurance Services Inc a call or stop by our conveniently located office in Lakewood, CO to learn more about our boat insurance offerings. 

How Can an Umbrella Insurance Policy Help You?

Similar to a real umbrella, umbrella insurance can protect you from a variety of things. This type of personal insurance offers additional liability coverage when you need it most, such as from extensive claims and lawsuits. Serving Lakewood, CO, Colling Insurance Services Inc. wants to share how an umbrella insurance policy can help you.

What Does a Personal Umbrella Insurance Policy Cover Typically?

Generally speaking, umbrella insurance is designed to protect you from a variety of events that may lead to significant financial loss. For instance, if your home is paid in full and you own a second property that you want to protect, a personal umbrella policy may help extend your insurance protection.

Umbrella Insurance and Your Auto Insurance

If you are ever worried about your auto insurance policy not being enough to cover damages that are sustained in an accident, or if you are ever sued after causing an auto accident, an umbrella policy may be something to consider.

Umbrella Insurance and Your Homeowner’s Insurance

If someone slips and falls on the swimming pool deck and suffers a very serious injury, they may decide to sue you for the medical expenses, pain and suffering, etc. In the event your homeowner’s policy fails to cover all of the expenses, you are left paying for those expenses out of your own pocket.

The good news is that an umbrella insurance policy can help cover those costs.

How Exactly Umbrella Insurance Works

Ultimately, umbrella insurance will step in when your homeowner’s or auto insurance limits have been reached, providing you with additional protection to take care of the unexpected that has come up.

If you would like to learn more about umbrella insurance and how it may relate to situations more specific to you, contact Colling Insurance Services, Inc. Serving Lakewood, CO, our team can discuss umbrella insurance options with you, work with you to customize your coverage so it fits your individual needs, and ensure your personal assets are safeguarded moving forward.  

Long Term Care Benefits for Colorado Residents

Long-term care is an inevitable part of most people’s lives, and you should be aware of the options and choices you have when it comes to long-term care insurance in Lakewood, CO. 

Colling Insurance Services Inc. understands the hesitation some people have with investing in long-term care insurance, and we can answer any questions you have about the need for this type of coverage. 

Many people don’t know that in order to qualify for long-term care insurance, you have to be in good health and without any pre-existing conditions. That’s why it’s often encouraged to purchase it while you are younger and in better health, so you can maintain the policy over the years instead of trying to get it when it’s too late and you have medical issues. Once you are sick, you do not qualify for long-term care insurance. 

Nobody plans to become unhealthy, get sick, acquire a disease or illness, but it happens frequently. The older you are, the less capable your body is of fighting off an illness. If you feel compelled to explore your options regarding long-term care insurance, we are here to help at Colling Insurance Services Inc. 

People are also concerned about the cost of this type of insurance, which is a valid concern – it is expensive. However, the cost of long-term care without insurance is staggering. We encourage you to protect yourself and your family members from this financial burden while you still can. 

If you’re in Lakewood, CO and the surrounding areas, give us a call at Colling Insurance Services Inc. We can work with you to find the best solution for your long-term care needs and address all your concerns. Don’t hesitate to reach out. 

Life Insurance Options

Life insurance is more important than most people realize. It provides security for your loved ones financially when you pass away. They will then have the space to grieve your death without the financial stress that may come with it and the life insurance agents at Colling Insurance Services Inc in Lakewood, CO are prepared to answer any questions you have about life insurance policies.

The Importance of a Life Insurance Policy

Life insurance is a very important type of policy to have as it protects your loved ones in the event of your death. It will also give you a sense of peace and comfort in knowing your loved ones will have financial stability when you pass away.

Types of Life Insurance Policies

There are three main types of life insurance policies.

Term Life Insurance

A term life insurance policy is more strict in the fact that you only have the coverage during the term in which the policy is active. Once the term expires, you will need to purchase another term and your premiums may increase. It is a simple type of life insurance that you get to choose the amount in which the term lasts, from one year to 30 or more years.

Universal Life Insurance

Universal life insurance is a very popular type of policy since you can borrow from the policy while you are still alive. This allows you to pay off major bills before you pass away, such as your mortgage and credit cards, so that your loved ones are provided for in the event of your untimely death.

Whole Life Insurance

There are three types of whole life insurance policies you can choose from, including universal life, variable universal life, and traditional whole life. Any of these three types are considered permanent life insurance and will pay out a death benefit when you pass away.

To obtain a quote and to decide upon which type of life insurance will work best for you and your loved ones, contact the trusted and experienced life insurance agents at Colling Insurance Services Inc in Lakewood, CO today!

Do you need to have health insurance when in Lakewood?

People that are in the Lakewood, CO area will always have various insurance needs. One type of coverage and protection all people here need to have is health coverage. Those that do reside in this area of the country will need to have this health insurance coverage for multiple important reasons. 

Having Access to Affordable Care

A primary reason that all people should maintain a health insurance plan is so they can have access to affordable care. When you do get health insurance, you will have access to doctors, physicians, specialists, and other healthcare professionals at a much reduced rate. Further, you will have access to medication and other services and reduced rates as well. If you do incur a significant medical expense throughout the year, there are typically out-of-pocket caps that you can hit to further reduce your bill while receiving necessary care and attention. 

Maintaining Coverage Will Meet Legal Requirement

The primary reason people in this area of Colorado should get this coverage is to ensure they have access to affordable care. However, having health insurance is also a legal requirement today. For several years, all people have been required to maintain this insurance. If you are not able to provide evidence of coverage when filing your income taxes, you could be assessed a fee at the end of the year. 

Those that are in the Lakewood, CO area will always want to ensure that they have proper health insurance in place. When you are looking to get a health insurance plan in this area, it would be a good idea to call Colling Insurance Services Inc. The team with Colling Insurance Services Inc. can help you build a plan that will ensure you remain properly protected and supported. 

Variables To Consider While Researching Dental Insurance

Colling Insurance Services Inc. offers coverage to the Lakewood, CO community. We recognize that each of our clients have unique needs. That’s why we work closely to find custom policies. We want our clients to be protected in any situation.

Dental Insurance Variables

You strive to live a healthy lifestyle so that you can make the most of your experience as a Lakewood, CO resident. Part of having a healthy lifestyle is taking care of your teeth. Dental insurance covers your treatment. You are protected for preventative care visits every year, as well as emergency visits. This includes teeth cleaning and x-rays. While researching dental insurance policies, consider these variables.

Research your policy carefully to see which treatments are automatically covered and whether you may need to amend your policy. In some cases, dental insurance will cover you if you need your teeth pulled. However, you may need extra coverage if you plan to undergo a root canal.

Think about whether you will be assigned a network. It’s possible that your dental insurance policy will assign you to a network where you are allowed to receive treatment. If you choose to see a dentist outside the network, things may become complicated. You may have to inquire about an alternative policy.  Some policies allow you to stay protected even when you are traveling. If you are having a bad toothache on vacation, you are covered if you need to go to the local emergency and receive treatment. Dental insurance policies have flexible treatment options.

Colling Insurance Services Inc. Will Help You Find The Right Policy

Visit our website to learn more information about dental insurance.

4 Advantages of Worker’s Comp Insurance

Among the many business insurance policies, worker’s compensation cannot go unmentioned. No matter the business type, your employees are prone to injuries. With this in mind, workers’ compensation insurance comes in handy as it compensates for work-related injuries and other illnesses. 

Why should I incur an extra cost in purchasing worker’s comp insurance? Why do I need this coverage, yet I have a safe working environment? If you are not sure about worker’s comp insurance, here are the benefits you accrue when you purchase this coverage from Colling Insurance Services Inc. of Lakewood, CO.

Protects your employees 

The policy ensures that your employees get the appropriate cover in the workplace. The policy cushions against accidents, sickness, and injuries that happen due to work-related issues. The coverage covers:

  • Medical expenses
  • Death benefits
  • Missed wages while the worker is recovering

Protects your business

Any company that values its employees is viewed positively. One sure way to appreciate your employees is getting worker’s comp insurance. This insurance not only boosts the confidence of your employees but cushions your company against lawsuits that employees could file due to work-related injuries. The policy thus protects your business from the financial burden as a result of employees’ work-related incidences. 

It’s mandatory by law

Colorado requires businesses to purchase worker’s compensation insurance. Compliance with this law keeps you off hefty fines and penalties. 

It’s affordable 

Worker’s compensation insurance is essential yet very affordable. While it doesn’t come for free, the cost of this coverage is minute compared to the costs it saves you when the unexpected strikes your business.

Worker’s comp insurance in Lakewood, CO

There you have it, the advantages of having the worker’s comp insurance. If you have a business and employees, better be safe than sorry. Contact us at Colling Insurance Services Inc. for an affordable quote.

Required Commercial Insurance in Colorado

In Colorado, there are a lot of different types of commercial insurance that are helpful for businesses of every size, but only two of these insurance types are required. If you need commercial insurance for your business, contact us at Colling Insurance Services, Inc. in Lakewood, CO.

Workers’ Compensation Coverage

When you have any number of employees, even just one, you are required to have workers’ compensation insurance for those employees. If someone does work for your company, the state presumes them to be employees, and workers’ compensation insurance is required for them as well. With this insurance in place, employees who have an accident at work or contract certain illnesses there will have their resulting medical bills paid for by the policy. The policy can also pay them for their wages lost after having an accident or contracting a covered illness. 

Commercial Auto Coverage

If your business owns a car, truck, or other vehicles, the state requires you to have a commercial auto insurance policy on that vehicle. There is a specific minimum amount required for covering the bodily injury liability for a single person who is injured in an accident that is your fault. There is a higher minimum amount required for the bodily injury liability for everyone in the accident. In addition, there is a set minimum required for the property damage liability for the accident. 

Optional Insurance

There are other kinds of policies that you can add to your coverage that can benefit your business. These include insurance types like cyber insurance, business owners’ insurance, professional liability insurance and more. 

Get Your Business Covered

It’s important that your business always has insurance to protect it. There are so many risks to businesses, and the right policies can help. Give us a call at Colling Insurance Services, Inc. in Lakewood, CO to find out more.