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 level death benefit if you die within the term, usually 10, 15, 20, 25 or 30 years, at a consistent rate. The term expires or renews at much higher rates. It's the most efficient way to secure a large benefit during the years when your family needs it most.
Permanent life (whole life, universal life, and variations) is intended to cover your entire life and accrues cash value over time. The monthly cost is much higher for the same death benefit, and cash value grows slowly at first. It's right for people with ongoing needs: lifelong dependents, estate liquidity, or business continuity.
How to choose
Start with the actual need, not the product. Needs with an endpoint—a mortgage to be paid, children growing up—fit term coverage perfectly. Needs without an endpoint may require permanent coverage or a term with conversion options. Many insurers let you convert term to permanent without new medical underwriting during the window; details show up on every quote.
What people in Orange often do
A practical strategy: a 20- or 30-year term scaled to your household's concrete obligations, revisited as circumstances shift. This keeps the rate affordable enough to buy sufficient coverage now—which is what counts. Susman Insurance Agency can explore permanent plans if your situation calls for lasting coverage.