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 set death benefit during a fixed window—typically 10, 15, 20, 25 or 30 years—with a flat premium throughout that period. After the term ends, coverage concludes or you can renew at a substantially higher annual cost. For buying meaningful protection during the years your family depends most on your paycheck, it's the most affordable choice.
Permanent life (including whole life, universal life and related products) stays active your entire life and accumulates cash value over time. For the same death benefit, the monthly cost is significantly higher, and the cash value builds slowly at first. It's right for people facing ongoing needs: a dependent requiring lifelong care, needing liquid assets for estate purposes, or managing a business transition plan.
How to choose
Begin with what you actually need, not with a product. Does your need have a finish line—a paid-off mortgage, kids grown up, a business sold? Term insurance lines up precisely. Does the need last forever—supporting a dependent, setting up an estate, a succession plan? Permanent insurance, or term with a conversion option, might suit. Lots of carriers permit converting term to permanent without new medical review, inside a set window; each quote displays that carrier's conversion rules.
What people in Mountain View often do
Many households use a 20- or 30-year term policy calibrated to genuine needs and revisited as life shifts. Keeping premiums affordable now makes buying sufficient protection realistic, which is what counts. If a lifelong need is in your situation, Susman Insurance Agency can explore permanent insurance with you.