Short answer
In Oakville, coverage often needs to handle a larger mortgage, two careers and sometimes a business. Add those up, subtract savings and existing coverage, and the gap is your number. The family protection calculator works it out in about two minutes.
Run your number The family protection calculator shows how much your family would need and what is missing today. No-cost, no obligation.
Larger mortgages need a fresh look at renewal
Many Oakville families renew a mortgage with a balance that is still large. Renewal is a natural time to check that your coverage still matches what you owe. The mortgage renewal check shows your next payment.
Business owners and incorporated professionals
Oakville has many owner-managed businesses and incorporated professionals. If that is you, think about key clients, loans you guaranteed and a partner buyout. The business owner check walks through it. Plan the legal and tax side with your lawyer and accountant.
Taxes on a final return
Canada has no inheritance tax, but tax can be owed on a final return, for example on RRSP balances or a cottage. The estate tax check gives a rough estimate.
Group benefits for your team
If you employ people, a small group benefits plan can cover health, dental, life and disability. See group benefits for small businesses in Ontario.
Frequently asked questions
Can life insurance fund a business partner buyout?
It is one common way to fund a buy-sell agreement. Your lawyer drafts the agreement and a licensed agent can show coverage options.
Does Canada have an inheritance tax?
No, but tax can be owed on a person's final return, for example on RRSP balances and capital gains.
Do you work with one insurance company?
No. Jackson compares multiple insurance, segregated fund and benefits companies, so you can see options side by side.
Is the person I talk to licensed?
In Ontario, life insurance agents are licensed by FSRA. You can confirm any agent's licence on FSRA's Licensing Link before you meet.
Sources and further reading
This page is general education, not personal advice. Rules can change, so check the official sources above. In Ontario, life insurance quotes are prepared by a licensed life insurance agent.