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Gelinas Financial Group, Inc.

LISTEN, UNDERSTAND, RESEARCH, HELP. Money management has a new reality. Financial-planning efforts must consider “the whole client.” We offer a multi layer approach that starts with education. We strive to gain your trust then deliver the results you seek. At Gelinas Financial Group, Inc., our passion is supporting our clients by adding value: You need information to make correct decisions. We’ll help you achieve higher levels of success and better process management through cutting-edge solutions, training, mentoring, and continuing education. Our objectivity and independence mean you get the financial-planning and risk-management solutions that meet the unique demands of your present situation. We offer our expertise in the following areas: Financial Planning Retirement Planning Insurance Investment Coaching Annuities More Hope is not a strategy. We meet with our clients regularly to scrutinize their investments and make adjustments.

Life Insurance: A Blast From Your Past

Shawna Kreis Shawna Kreis , 5/18/2016
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When you dig through the records of a deceased parent or older relative, you might uncover photos of yourself sporting an unfortunate hair or clothing style –or a Life insurance policy in your name.

Some parents bought Life insurance for their children to kick-start a savings plan. Many families purchased Juvenile Life policies that built up a substantial "cash value" over an extended period. So, it's probably worth asking your aging parents or relatives whether if they ever took out a policy on your Life. Even if nothing turn up in the records of a departed loved one, there could still be a Life policy out there in your name. It's smart to look periodically on the website of your state's unclaimed property department, where financial institutions send money when they can't find the rightful owner after a specific period (often five years). You can also check these databases in every state where you and your family members have lived. To benefit from an unclaimed Life policy in your name, you'll have to file a claim. A Social Security number and address is often all the proof you'll need. However, claims with a high-dollar amount might require more documentation. If you find a policy insuring you, and the owner is deceased, you can maintain coverage or surrender it for its cash value, depending on your financial situation. Redeeming the policy will mean losing the death benefit - and could have tax consequences. If the policy has built up enough cash value to pay the premiums, you might be able to keep the coverage at no cost. We'd be glad to offer our advice.