Life Insurance

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Find Your Peace of Mind with Customized Life Insurance Solutions

Consider life insurance as a safety net and cornerstone of financial planning, providing you peace of mind and protecting your family's lifestyle, no matter what.

Find the perfect life insurance to secure your future and protect your loved ones with WealthTrack's help. We offer personalized and professional guidance to help you find a life insurance plan tailored to your personal needs.

How it works

1. Get a Quote

Start by comparing life insurance quotes based on your needs and budget.

2. Choose a Policy

Select the right life insurance policy that offers the coverage you require.

3. Apply and Get Covered

Complete the application process, go through any required medical assessments, and start your coverage.

Life Insurance Benefits

Life insurance has several benefits. The death benefit that gets paid from a life insurance policy is a lump sum and is paid tax-free.


These funds could be used to:

  • replace your income so that your loved ones can maintain their standard of living

  • provide for your children or dependents

  • pay for final expenses

  • pay off any of your debts

  • make a gift or donation to your favourite charity

Life Insurance can also play a part in your retirement planning. If set up correctly, you can enjoy the benefits of life insurance while you are still living and provide protection and peace of mind for your family.

Want to learn more? Click to read frequently asked questions about life insurance

The Main Types of Life Insurance

Term life insurance will pay a death benefit if the insured person dies during a specified time.

Your term policy coverage can be set for:

  • A fixed period, like 10, 20, or 30 years.

  • Up to a specific age, such as 70.

Term Life insurance provides the following benefits:

  • Protects you for a specific need, like a mortgage or other temporary liability

  • More affordable than a permanent policy

  • Flexible to accommodate for changes in your life situation

  • Predictable and guaranteed rates

  • Guaranteed death benefit

Family playing in snow

Discover how term life insurance differs from permanent life insurance. Check out our article, Term vs Whole Life Insurance in Ontario


Additional Term Life Insurance Considerations

If you die while the policy is in force, the insurance company will pay your beneficiaries the death benefit. After the term ends, the coverage ends, and your beneficiaries will not receive a payment.

These policies don't have a cash value, meaning you can't borrow against them or receive money back if you cancel. While premiums are initially lower compared to permanent insurance, they are fixed for the term length and will increase upon renewal. If premiums aren't paid, the policy gets cancelled.

Term life insurance policies usually have lower premiums than permanent insurance when you first buy the policy. Over time, you may find that term insurance premiums become much higher than a permanent policy. Permanent policy premiums stay the same while term policy premiums increase at renewal.

Permanent life insurance gives you the benefit of coverage throughout your lifetime.

Your survivors will get a payment if you die at any time as long as the insurance policy is in effect. Permanent life insurance policies can also build up a cash value. Cash value means you'd get a cash refund (after subtracting the amount you paid for the insurance cost itself) if you decided to cancel the policy.

You may be able to take out a loan against the policy or use your life insurance policy as collateral for a loan. Suppose you borrow using your cash value and don't repay the loan. In that case, it may reduce the amount of money your beneficiary will receive, or you may get back if you cancel.

Why Choose Permanent Life Insurance? It offers lifelong protection, retirement income, tax-deferred growth, wealth transfer, and estate planning benefits

Sunbae legacy

Explore whether permanent life insurance is right for you. Check out our article, Am I Too Young For Life Insurance?


Permanent Life Insurance comes in two types: Universal and Whole Life.

Protect your most significant purchase and biggest investment.

Mortgage Life Insurance can protect your family from having to sell the house or move in the event of your death. Many mortgage lenders offer a type of insurance which can pay off some or all of the mortgage if the insured person dies. There are many essential differences between coverage for your mortgage. You should compare the options here to find a policy that provides the right kind of protection for your mortgage.

Life insurance

Explore whether mortgage life insurance is right for you. Check out our article, Should You Get Mortgage Life Insurance?


Compare Individually Owned Life Insurance with Bank's Mortgage Insurance

Mortgage Insurance from a Bank

  • The bank owns the policy, and you are a member of the group

  • Coverage is limited to certain types and amounts

  • The death benefit goes to the bank to pay off the mortgage.

  • If the lender changes the policy, then you could lose coverage

  • Health and other factors are not usually considered, and you will probably pay more for this coverage.

Individual Life Insurance

  • You own the policy, and you decide the beneficiaries

  • You choose the type of coverage and the amount

  • You keep the policy even if you change lenders or pay off the mortgage

  • You have guaranteed coverage for as long as the policy is active

  • You can save money based on your health, age, and smoking status and choose the best carrier.

Hear firsthand how WealthTrack can provide peace of mind and financial security to our valued clients.

“David has the ability to take a stressful and intimidating situation and completely streamline and simplify it. His patience and level-headed nature lend itself perfectly to helping make those crucial life-choices. In a sea of uncertainty, David is someone I definitely want on my side.”

“What standout the most when dealing with David is his transparency and how much he cares to provide the best for his clients no matter what. His tips and advices are amazing and he makes sure to provide the proper financial education to his clients based on their situations. I highly recommend using David Pipe services!!"

  • A proven process to help you get there. It all starts with a foundation of understanding your needs and goals first.

  • Knowledge and expertise to help you clean up all the clutter of information and make things clear so that you can make the best choices.

  • The ability to choose from a comprehensive set of options that are tailored for your goals.

Feel Confident with Advice from a Licensed Professional

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Frequently Asked Questions About Life Insurance