Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life pays the death benefit if you die within a specific period—typically 10, 15, 20, 25, or 30 years—for a fixed monthly payment. When the term expires, coverage stops or the rate jumps significantly. It's the lowest-cost way to secure a substantial benefit for the years when your family needs protection most.
Permanent life (whole life, universal life, and variations) stays in force for your whole life and builds a cash value inside the policy over time. Monthly payments are substantially higher for the same benefit, and the value grows slowly during early years. This approach works well for people who expect lifelong needs: a dependent with permanent care needs, settling an estate, or managing a business transition.
How to choose
Start with the need, not the product type. If the need has a deadline—a mortgage that will be paid off, children who will become independent—term coverage is a clean match. If the need is endless, permanent coverage or a convertible term policy might be right. Many carriers allow converting term to permanent without new medical underwriting during a set window; your quotes show each carrier's conversion options.
What people in San Pablo often do
One common strategy: buy a 20- or 30-year term policy sized to real family obligations, then review it if circumstances shift. This approach keeps premiums low enough today to buy sufficient coverage, which is the priority. Susman Insurance Agency can discuss permanent options if lifelong protection fits your goals.