Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life pays your chosen benefit if you die during a set period, typically 10, 15, 20, 25, or 30 years, for a fixed monthly payment. When the term ends, coverage stops, or you can renew at a much higher cost. It's the cheapest way to buy a big benefit for the years when your family needs it most.
Permanent life (whole, universal, and variations) stays in force your whole life and builds internal cash value. Premiums are much higher for the same benefit, and cash value grows slowly at first. It makes sense for lifelong needs: a dependent who'll always need support, leaving an estate, or a business continuation plan.
How to choose
Begin with the need, not the product. If your need has an end date—a mortgage in fifteen years, kids independent in eighteen—term coverage aligns perfectly. If the need never ends—a dependent adult, an estate, a business—permanent insurance or a term policy with a conversion option might fit. Most carriers allow you to convert term to permanent without new medical exams during a set window; quotes show each carrier's conversion rights.
What people in Citrus Heights often do
A common strategy is a 20- or 30-year term matched to your household's real obligations, with a check-in when major life changes happen. This keeps the monthly cost reasonable so you can afford the coverage amount you actually need. If lifelong coverage becomes important later, Susman Insurance Agency can explore permanent options.