Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life provides a set death benefit if you pass during the term (10, 15, 20, 25, or 30 years) in return for fixed monthly premiums. Once the term expires, coverage ends or you can renew at a significantly higher rate. Term is the most economical way to secure substantial protection during the critical years when your family depends on your income.
Permanent life (whole life, universal life, and similar products) covers you for life and accumulates a cash value component. Monthly premiums run much higher than term for the same death benefit; cash value grows gradually in the early years. It's designed for situations where you need coverage for your entire life: a permanently dependent family member, lifetime estate liquidity needs, or a business succession strategy.
How to choose
Work backward from the need. When the need has an expiration—a mortgage you'll pay off, kids who'll become independent—term life aligns perfectly. When the need has no end date, consider permanent coverage or a convertible term policy. Many insurers allow conversion from term to permanent without fresh underwriting if you convert during your window; the quote details each carrier's conversion rules.
What people in Roseville often do
Most households choose a 20- or 30-year term sized to their real expenses and reviewed as life shifts. This strategy keeps the monthly cost affordable while letting you buy sufficient coverage today—which is the critical step. Susman Insurance Agency can explore permanent coverage if you have a lifetime need.