Your Family Needs More Than a Policy. They Need a Plan.
Life insurance helps ensure your loved ones can confidently handle mortgage payments, outstanding debts, ongoing household expenses, and long-term security if something happens to you.
Our Core Planning Areas
Keep the plans you made for your family.
Life insurance pays a lump sum if you die, to help cover the mortgage, daily bills and your children's future.
Book a free reviewIllustration. Coverage is subject to underwriting and insurer approval.For families in Brampton and the GTA
Your family's plans rest on your income. What happens to them if it stops?
Here is where personal coverage usually falls short, and how each gap gets closed.
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The problem
The mortgage would land on your family.
If you die, the payments, the bills and the school costs keep going.
The solutionTerm life insurance
A death benefit paid to the people you name, for the years they depend on you, priced for the period you need it.
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The problem
Your only coverage is through work.
Group coverage is often a small multiple of salary, and it usually ends when you leave the job.
The solutionYour own policy
Coverage you own, which stays with you when you change jobs or start a business.
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The problem
You can't tell term from permanent.
Every quote looks different, and it's hard to know which one fits.
The solutionA plain side-by-side
We show the options for your budget and goals, with the costs and limits of each, before you choose. See the side-by-side.
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The problem
Your policy was bought for a life you no longer have.
A new home, a child or a business can make old coverage too small.
The solutionA review of what you have
We check your existing policies against today's debts and family, and tell you if nothing needs to change.
Related planning
Why families trust WealthPillar
- Founded by Chirag Kalra, Chartered Accountant (ICAI, India) and licensed life insurance advisor in Ontario
- Options, costs and limits explained in plain words before you decide
- We tell you how we're paid: the insurer pays a commission when a policy is placed
- Nothing is placed without your sign-off, and you're welcome to show the numbers to your own accountant and lawyer
- A real office at 181 Queen Street East, Brampton
Why look at it now?
Life insurance is priced by age, and many insurers raise the price at your next insurance birthday. Coverage also depends on your health when you apply, so applying while you're healthy keeps more options open.
- Pick a time. 30 minutes, by phone or video.
- We bring the numbers. We look at your debts, your family and what you already have.
- You decide. If it doesn't make sense for you, we'll say so.
Prefer to ask a question first? Send an enquiry or WhatsApp +1 942-667-7723.
General education only. Not individualized insurance, tax or legal advice. All coverage is subject to underwriting and the terms of the policy.
Term or permanent?
What is the difference between term and permanent life insurance?
Term life insurance covers you for a set number of years, usually 10, 20 or 30, and pays out only if you die in that time. Permanent life insurance covers you for life as long as the premiums are paid, costs more for the same amount, and some types build a cash value. Neither one is better for everyone.
| Question | Term life | Permanent life (whole or universal) |
|---|---|---|
| How long does it cover you? | A set period, such as 10, 20 or 30 years, or to a set age. | For life, as long as premiums are paid as the policy requires. |
| What does it cost to start? | The lowest starting price for the same death benefit. | Several times the term price for the same death benefit. |
| What happens to the price later? | Level for the term. If you renew, the new price is based on your age then and can jump a lot. | Usually level, or paid up over a set number of years. Universal life lets you vary deposits within limits. |
| Does it build cash value? | No. If you outlive the term, nothing is paid back. | Whole life and many universal life policies do. Growth inside the policy is tax-deferred within limits set by the Income Tax Act, and dividends or returns are not promised unless the contract says so. |
| Can you change your mind? | Many term policies can be converted to permanent before a set age without a new medical. Check your contract for the deadline. | You can cancel, but surrender charges often apply in the early years, so you may get back less than you paid. |
| What do people often use it for? | The mortgage, replacing income while children are young, debts that end on a known date. | Final expenses, tax owing on an estate, leaving money to family or a charity, some corporate planning. |
| What to watch out for | Coverage ends when the term ends. Renewal at 60 or 70 can cost far more than the first term did. | The higher cost can crowd out other savings. Read how the cash value is credited before you sign. |
Can you have both?
Yes, and many families do. A common setup is a larger term policy for the years the mortgage and the children depend on your income, with a smaller permanent policy for costs that never go away, like final expenses or tax at death. The right split depends on your budget, your debts and what you want to leave behind.
General education only. Not individualized insurance, tax or legal advice. Features differ by insurer and product, and all coverage is subject to underwriting and the terms of the policy. WealthPillar is paid by insurer commission when a policy is placed.