We strongly believe that risk protection (insurance planning) is an integral part of sound financial planning. We offer a full suite of life insurance and living benefits products through most of the insurance companies in Canada. As brokers we shop for the most competitive price, review financial strength, stability, and most importantly, for their innovative product solutions and service to clients.

M2 offers a complete product package that spans term life insurance, permanent life insurance, critical illness. We will work with you to choose appropriate plans that are customized to suit your needs. As insurance needs can evolve and change over your lifetime, a wide variety of plans are necessary to provide you with options during the various stages of your life. We follow a systematic estate needs analysis process to determine an individual client's needs and to recommend appropriate solutions.

Don't be confused by life insurance. There are only 2 basic types of policies: permanent (whole life and universal life) and term (temporary). Simply put, permanent coverage remains in effect for the lifetime of the insured, while term coverage expires after a set number of years (eg. 10 or 20 years) or to a certain age (eg. to age 75 or 85 or 100). Generally, term insurance premiums are lower in cost.

Term Insurance

Term Insurance is the least expensive form of life insurance, and typically, is the type of insurance that most people require. Term insurance provides protection during 10, 15, 20, 25, or 30 year terms. In addition, these plans may be renewed for additional terms or converted to permanent life insurance plans. We have a term plan offering up to $250,000 that only requires you to answer a few simple health questions. Other term plans offer up to $5,000,000.

Benefits of a Term Life Policy

  • Term life insurance is very affordable.
  • Term life insurance is simple to understand, and allows for personal choice.
  • Term life insurance is good for short term needs. Good examples of this are to cover your children's college education, replace the loss of your income upon death, and to cover your mortgage.

Universal Life

Universal life (UL) insurance can provide a wide range of financial solutions, both during your lifetime, and for your heirs. Universal life insurance provides two key financial planning solutions: a savings component that permits tax-deferred investment growth and life insurance that provides a tax-free death benefit (which includes your savings and your insured amount).

Benefits of a Universal Life Policy

  • Protect your family's standard of living
  • Pass family assets to the next generation
  • Pass company assets to the next generation
  • Add to your retirement income
  • Maximize your savings

Whole Life Insurance

Whole life insurance is coverage for your entire life. Under this type of policy, your coverage will never expire and will never need to be renewed. Whole Life Insurance cover is for the whole of your life.

The amount, for which you are insured, also known as the death benefit, will be paid to your beneficiaries at the time of your death. Once known as permanent life insurance, these policies are now more often called cash-value insurance. The term "cash-value" refers to an additional savings feature that increases the value of a policy.

Benefits of a Whole Life Insurance Policy

  • Flexibility. A permanent plan can give you access to some or all of the premiums that you have been paying for in a way favourable to your taxes.
  • It's with you until you die. This type of policy coverage is guaranteed for your life with no payment increases. A term policy will expire at a certain date, and a renewed policy could have much higher premiums.
  • Inheritance. Maybe the best reason for a permanent policy is to make sure the government doesn't eat up your estate and investments. A permanent policy can provide peace of mind that your family and loved ones will be taken care of for the future.

Remember, the decision to buy a permanent or a term life insurance policy will depend on your situation, your age, your financial well being, and other factors. If you are a young family with some investments to protect but not financially stable a term life policy might be a good idea to protect those investments and your family. However, if you are financially stable with considerable investments, it may be a better decision in the long run to purchase a permanent plan.

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