We Want To Be Your Resource

By Denice A. Gierach
August 2010

We at The Gierach Law Firm want to be your resource for information that is useful to you. In order to bring you such information, we will occasionally bring to you an article which you may find of interest by someone outside of the firm or we may offer you a free or reduced fee service which we think you may find beneficial.

In the process of doing estate planning, wills and trusts for our clients, we noted that many clients have life insurance, but really don’t know what they have or why. Many times the clients have small policies that were sold to them by various family members, many of whom did not even stay in the insurance business after the policy was sold to them. As a result, many clients have questions such as: Do I need life insurance? How much life insurance do I need? What are the policies that I have? Do they provide me with any benefit? Does the benefit run out at particular ages? Are the policies good for investment? Should I keep the policies or cash them in?

As you may know from having dealt with our firm, we do not push the purchase of life insurance. There are certain circumstances that require insurance such as to provide liquidity for your family to maintain their lifestyle after you die, to provide money to pay estate taxes when you die, or to fund a buy-sell agreement, to name a few. In those situations, we do recommend life insurance to our clients and we work actively with either your insurance professional or we give you names of several insurance brokers to facilitate the purchase of insurance. We do feel that it is a wise move for our clients to have their insurance policies reviewed periodically to determine the answers to the above questions and to determine if the existing policies should be maintained.

To facilitate the review of your policies, we have asked Stephen Collins of Lake Michigan Benefit Associates, who we have worked with for many years in the past, to review our clients’ existing life insurance policies at no charge to you, which he is willing to do. Stephen is a financial planner with an emphasis in life insurance and regularly evaluates existing life insurance products for many of our clients.

If you are interested in the free review of your existing life insurance, please send me an email at deniceg@gierachlawfirm.com to schedule an appointment at our offices.