Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life delivers a set benefit if death happens within your chosen timeframe—typically ten, fifteen, twenty, twenty-five or thirty years—while you maintain a fixed annual premium. Once that period is over, your coverage ends unless you renew (at a significantly higher cost) or convert to permanent. It's the most economical way to obtain substantial protection during your household's most vulnerable stage.
Lifetime coverage (whole life, universal life and similar products) is meant to last your entire life and accumulates a cash value. Monthly payments are substantially higher for the same benefit, and the savings portion builds gradually at the start. This works for people with never-ending responsibilities: a family member requiring permanent care, need for estate taxes, or business transitions.
How to choose
Identify your actual need first, then pick the product. When that need has an expiration—a loan that'll be paid off, children becoming independent—term is a clean fit. For indefinite needs, permanent coverage or convertible term may be better. Many insurers allow you to switch from term to permanent later without new medical underwriting, provided it's within the conversion period; our quotes display each carrier's conversion options.
What people in Glendale often do
A practical strategy: select a 20- or 30-year term that covers what your household truly needs, and reassess it whenever your situation changes. This keeps the cost reasonable so you can afford sufficient coverage today—which is what counts most. If a permanent need exists, Susman Insurance Agency can explore permanent products with you.