It’s the perfect time to secure your short and long-term financial goals.
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When it comes to Personal Insurance Ontario, residents across the province face a unique mix of opportunities and risks. Whether you’re building a career in downtown Toronto, raising a family in Ottawa, or enjoying retirement in a lakeside Muskoka home, the personal insurance needs of Ontarians are as diverse as the province itself. At Ten O Eight, our commitment is to craft insurance portfolios that reflect your lifestyle, financial goals, and long-term vision for your family’s well-being.
In a province known for its economic vibrancy, world-class healthcare, and rising cost of living, personal insurance isn’t a luxury—it’s a necessity. Personal insurance in Ontario isn’t just about protecting what you have; it’s about creating a framework for achieving peace of mind through every season of life.
Personal insurance in Ontario spans a range of product types designed to cover individual and family needs, income replacement, debt elimination, estate planning, and long-term financial security. At its core, personal insurance includes life insurance (temporary and permanent), critical illness insurance, disability insurance, long-term care insurance, and insured retirement planning.
Each solution serves a distinct purpose but works cohesively as part of an intelligently constructed financial protection strategy.
Temporary life insurance, also known as term life insurance, is a foundational component of personal insurance in Ontario. It’s designed to address risks that exist for a specific period, typically 10, 20, or 30 years. These may include:
What makes temporary life insurance a smart choice is its affordability and its alignment with time-bound obligations. When your goal is to ensure your family won’t struggle financially if you’re no longer around, term insurance offers a clear solution.
While temporary insurance covers finite risks, permanent life insurance is positioned for expenses that persist beyond our lifetimes. In the context of Personal Insurance Ontario, permanent life insurance ensures that key long-term financial needs are covered, such as:
Permanent insurance doesn’t expire as long as premiums are paid. It offers a combination of life-long coverage and wealth accumulation. This makes it a preferred vehicle for high-net-worth individuals, business owners, and families with complex estate needs.
Tax efficiency is a central focus for many Ontarians navigating high-income brackets or seeking non-market correlated investments. An Insured Retirement Plan (IRP) can serve as a powerful addition to a personal insurance portfolio.
Here’s how IRPs work within Personal Insurance Ontario:
For clients who have maximized their TFSA and RRSP, IRPs offer a smart alternative. They’re also ideal for those who want stable, guaranteed growth and tax-sheltered accumulation.
One of the most forward-thinking strategies for parents in Ontario is to establish a permanent life insurance policy for their children. This can be structured to:
Incorporating personal insurance into your generational wealth strategy allows your family to reap the benefits of compounding, financial security, and protection from future health challenges.
Too often, insurance is associated solely with death benefits. But in practice, Personal Insurance Ontario is just as much about how you live. Living benefits, such as critical illness, disability, and long-term care insurance, provide essential coverage while you’re still alive and navigating a major life event.
A serious diagnosis can upend your life in an instant. Critical illness insurance provides a tax-free lump sum, up to $2 million, if you're diagnosed with a covered illness like:
This benefit is paid directly to you and can be used for anything from experimental treatment to mortgage payments or time off work.
What’s more, select plans offer a return-of-premium option, meaning if you never make a claim, you can recover your full contributions.
Your ability to earn an income is your most valuable asset. Disability insurance ensures that if an illness or injury prevents you from working, your lifestyle doesn't have to take a hit. Consider:
Disability insurance provides a monthly income to bridge this gap. It can be personalized based on your current employer-sponsored benefits and overall financial profile.
Long-term care is an increasingly important part of personal insurance in Ontario. With rising healthcare costs and a growing senior population, the need for extended support is more urgent than ever. This type of insurance pays up to $10,000/month if you lose the ability to perform two out of six daily living tasks, such as:
The benefit can be used for in-home care or at a private facility, preserving your independence and dignity during later life stages.
No two Ontarians live the same life, and no two insurance portfolios should look the same. Whether you’re:
Your needs are deeply personal. Our role at Ten O Eight is to ensure your plan grows with you, adapts to your goals, and supports your legacy.
We take the time to learn about your financial goals, family structure, liabilities, assets, and future vision. Then we use the full range of tools in Personal Insurance Ontario to build a flexible, future-ready plan.
At Ten O Eight, we don’t sell policies—we build relationships. We believe every client deserves a personalized plan, designed not from a template but from a deep understanding of their goals, lifestyle, and financial blueprint.
What sets us apart:
Personal insurance refers to coverage that protects individuals and families from financial hardship due to death, illness, injury, or aging. This includes life, disability, critical illness, and long-term care insurance.
It depends on your needs. Term life is best for short-term financial obligations, while permanent insurance covers lifelong needs and builds cash value over time.
Yes. Strategies like Insured Retirement Plans use permanent insurance to generate tax-free income and leave a legacy without market exposure.
Critical illness insurance pays a tax-free lump sum upon diagnosis of covered conditions like cancer, heart attack, or stroke. Funds can be used however you choose.
This depends on your income, expenses, and existing group benefits. A financial advisor can help calculate the right monthly benefit for your needs.
Absolutely. Permanent life insurance policies for children grow tax-free and offer financial support for future milestones like education or a home purchase.
Generally, personal insurance premiums are not tax-deductible. However, some policies offer tax-sheltered growth and benefits depending on their structure.
It provides financial support if you're unable to perform daily tasks and require professional care. It helps maintain independence and reduces burden on family.
Some policies offer a return-of-premium option, refunding your contributions if you don’t claim within the policy term.
Connect with Ten O Eight for a personalized consultation. We’ll evaluate your needs and build a custom insurance portfolio that works with your goals.
It’s the perfect time to secure your short and long-term financial goals.
Mount Royal Block Suite 290, 815 - 17th Ave SW Calgary, AB T2T 0A1