Life insurance is a key tool to provide peace of mind and protection for your loved ones. With so many different options out there, we understand that finding the right life insurance can be overwhelming. We strive to provide our clients with valuable guidance, to make this an easier process than you might think. To assist you in making the correct decision for you and your family, we have compiled a checklist of things you want to consider: Review your life insurance options.Find a policy that fits your specific needs.Choose the right amount of insurance for you.Decide where to apply for your policy. What type of policy best fits my needs?As outlined above, most individuals might find that term insurance is the best option, especially if you require a large amount of coverage. We find that term insurance is perhaps the best starter life insurance policy. Term insurance is commonly purchased with the expectation that it can be converted to a permanent policy in the future, so it provides flexibility to meet your changing needs. However, you may find that a permanent insurance policy fits your needs better if you: Own a family business.If all of your children are not interested in taking over the business in equal shares. A permanent policy will help to equalize the estate by providing a cash payment to any children that are not receiving the value of the business. Own a cottage or a second property.When the owner of a property dies, that property forms a part of your estate and ownership is transferred based on the directions in your Will. However, at the time of death, if the property has grown in value since you purchased it, there will taxes that must be paid. Permanent life insurance can provide the cash to cover those taxes, so that your loved ones are not forced to go into debt, or to sell the property, to pay the taxes. Have a sizeable estate or investments.Your Will also specifies the other contents of your estate, including any investment accounts you may hold. However, many of these investments and other assets will be taxed when they transfer to your loved one. Just like the cash payment to cover the taxes on any properties, permanent life insurance provides a cash payment that can be used to cover other estate taxes and expenses, including probate, legal and accounting fees, and other additional costs. Care for a loved one with a disability or special needs.If you have dependents that rely on you for income support, or for care, a permanent policy can ensure that they are financially supported after you’re gone. You can even name a trustee to look after the money on behalf of your loved one if they are not capable of being financially independent. This is especially helpful in situations where an individual has a disability or special needs that require another individual’s assistance. How much coverage do I need?You can find out the amount of coverage you should have by answering a few short questions from a member of our Hometown Life team. The exact amount of insurance you require is based on your personal circumstances and your future goals. The information that will help you uncover your needs include details about your mortgage or other debts, annual income, children or other dependents, and any other important issues that you would want covered with life insurance. How can I apply?Getting a price for life insurance is easy through Duliban. We only require basic information in order to provide you with a quote. Simply let us know your gender, date of birth, smoking status and some contact information, and we will be able to provide you with quotes from some of the largest and most trusted companies across Canada. Since you have already determined the amount of coverage you require – either on your own or based on our recommendation – you will also include these details to obtain your customized quote. _ By using this checklist, you can feel confident that you have selected the correct coverage for you and your loved ones. At Duliban Insurance, we are here to assist you along the way to make the process of learning about life insurance, obtaining a quote and submitting an application a breeze. Whether you are looking for your first life insurance policy, or a second opinion on your existing coverage, our team is here to provide you with a no-obligation insurance review to help you find the perfect coverage. 

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