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Markham at a glance
- Population, 2021338,5032.9% more than in 2016
- Immigrants58.6%197,540 people
- Households that own81.7%of 110,870 households in total
- Median age42.4years
- Arrived 2016 to 202118,8955.6% of residents
- Top non-official mother tonguesCantonese, Mandarin, Tamilsingle responses
Markham had 338,503 residents at the 2021 Census. Immigrants were 58.6% of people in private households, compared with 58.2% in Richmond Hill. The most common non-official mother tongues were Cantonese (71,905), Mandarin (49,375) and Tamil (14,225).
81.7% of households owned their home and the median age was 42.4. The average household had 3.0 people.
Source: Statistics Canada, 2021 Census Profile. Markham figures: Statistics Canada, 2021 Census Profile, census subdivision Markham, City (CY). Data tables 98-10-0002, 98-10-0022, 98-10-0173, 98-10-0240 and 98-10-0307. For Markham, the immigrant share is of people in private households and mother tongue counts are single responses. Retrieved 2026-11-05.
What that means for life insurance in Markham
With 81.7% of households owning, mortgage balances are a natural starting point. A couple with two incomes may find that if one stops, the household cannot carry the mortgage on the other alone. Insuring each earner for an amount tied to that gap is a common approach.
Households with property in more than one country face another question: which assets would a family need to sell, and how quickly? Life insurance can provide cash so that a surviving spouse does not have to sell a home or a business interest under time pressure.
Business owners, property and estate cover
Some owners of small businesses and professional practices buy cover for the business itself, such as key-person cover or a policy that funds a buy-sell agreement between partners. Our page on business solutions gives an overview.
Permanent policies such as universal life are sometimes used to set aside money for estate costs. Universal life is designed to last for life, but the premium needed can rise if investment returns fall, so it must be funded enough to stay in force (FCAC, as of November 2026). Term is generally cheaper at the start, so people usually compare both. Our estate planning page shows how insurance fits with a will and powers of attorney.
How meetings work for Markham residents
An advisor can meet you by phone or video wherever you are in Ontario, including from a home office or between client calls. Business owners can ask for a longer session to review personal and corporate cover together.
For reference, the office is 180 Steeles Ave West, Unit 213, Thornhill, ON L4J 2L1. Expect to hear from an advisor within one business day. The office also takes in-person meetings by appointment, which suits owners who want to spread documents out on a table.
Getting life insurance quotes in Markham
Map the household’s commitments
Mortgage, property, business loans and support for relatives, here or overseas.
Compare sample prices
See illustrative prices for term and permanent cover from several insurers.
Review with an advisor
Go through how cover would pay out and who would receive it.
To start in Markham, open life insurance quotes, read the overview of life insurance in Canada, or browse life insurance across Ontario.
Questions about life insurance in Markham
My spouse and I both work. Does each of us need our own policy?
Each earner contributes income the household relies on, so many couples insure both rather than only the higher earner. The right amounts depend on the mortgage, savings and children, and an advisor can walk through the figures.
Can life insurance help with a business partner situation in Markham?
A buy-sell agreement can use life insurance to give surviving partners the money to buy a deceased partner’s share. A lawyer and accountant normally draft the agreement alongside the policy.
How do insurers treat income earned partly outside Canada?
They ask about income, residency and ties to Canada when setting the amount they will offer. The details differ by insurer, so an advisor can check how each one would treat your situation.
Is universal life a fit for estate costs?
Universal life is designed to cover you for life while the policy stays in force. The account value and the premium needed can change with investment returns, so more premium may be needed to keep the policy in force (FCAC, as of November 2026). Term is generally cheaper at the start, so people often compare both before choosing.
Do I need to visit the Thornhill office from Markham?
No. Everything can be done by phone, video and the app, and the Thornhill office takes in-person meetings by appointment if you would like one.
Nearby cities and related pages
Richmond Hill borders Markham on the west, and Scarborough lies to the south.
- Life insurance in Richmond Hill
- Life insurance in Scarborough
- Universal life insurance
- Life insurance in Ontario
- Life insurance quotes
Education only, not advice. This page explains how life insurance generally works for people in Markham and what the 2021 Census shows. Each policy’s terms are set by the insurer’s contract. For advice on your own situation, talk with a licensed advisor.
