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 fixed death benefit if you die within a set period—usually 10, 15, 20, 25, or 30 years—at a level premium. Coverage ends or becomes very expensive after the term finishes. It is the most affordable way to get a large benefit for the specific years when your family needs it most.
Permanent life (whole life, universal life, and their variations) continues for your lifetime and grows a cash value inside the policy. Premiums are much higher than term for the same death benefit, and cash value builds slowly in the early years. It is right for people with permanent needs: someone who always depends on you, estate planning, or succession of a business.
How to choose
Start with what you need to protect, not the product. If your need has a finish line—a loan to pay off, children who will grow up, a business obligation ending—term coverage aligns perfectly. If your need continues indefinitely, a permanent policy or a term policy with a conversion option could be better. Many carriers allow conversion from term to permanent within a time window without asking for new underwriting.
What people in Riverside often do
A common choice is 20 or 30 years of term life, sized to your actual bills and obligations, and revisited if things change. This approach keeps your premium affordable so you can get the amount you truly need. Susman Insurance Agency can discuss permanent insurance if your situation includes lifelong needs.