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 death benefit during a set period—usually 10, 15, 20, 25, or 30 years—for a flat payment amount. Once the term ends, coverage stops or renews at much higher rates. For the years your family needs the most protection, it is the most affordable way to obtain a large benefit.
Permanent life (whole life, universal life, and variations) is made to stay in force your whole life and accumulates cash value inside. Premiums are far higher for the same benefit, and cash value builds slowly at first. This works for people with lifetime needs: a dependent who always needs support, estate planning, or business succession needs.
How to choose
Start with the need, not the product. If the need has a finish date—a mortgage being paid down, children becoming adults—term insurance aligns with it naturally. If the need never ends, a permanent policy or a term policy with conversion options may work. Many carriers allow converting term to permanent during a conversion period without additional medical review; the quote tool shows each carrier's conversion options.
What people in Redwood City often do
Most families use a 20- or 30-year term policy sized to their actual obligations, revisited if circumstances shift. This approach keeps the monthly premium manageable so you can afford an adequate benefit now, which is what is most important. Susman Insurance Agency can review permanent alternatives if your situation requires lifelong coverage.