Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term insurance gives a payout if death occurs during the stated window—normally 10, 15, 20, 25, or 30 years—in return for constant monthly cost. When your window closes, you may renew at higher rates or let it lapse. It's the most budget-friendly option for significant protection during high-need household years.
Permanent insurance (whole life, universal life, etc.) is active for your whole life and grows cash inside. Prices are substantially higher per unit of benefit. Choose it when you have permanent needs: an always-dependent loved one, managing estate taxes, or handling business transitions.
How to choose
Prioritize your need first. Term suits needs with an endpoint—mortgages to pay off, kids reaching adulthood, obligations that end. Permanent insurance or a convertible term may work if your need has no finish line. Carriers typically permit converting term to permanent within a set period without fresh underwriting; quotes show each carrier's terms.
What people in Seaside often do
Strategy: purchase 20-30 years of term reflecting your household's genuine needs, and revisit as your situation evolves. This approach keeps costs affordable, letting you secure ample coverage today. If lifelong protection is relevant, Susman Insurance Agency can review permanent products.