Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term coverage delivers a set death benefit during a specified window—typically 10, 15, 20, 25 or 30 years—at a consistent rate. Once the term expires, protection concludes or can continue at substantially higher premiums. This gives you the most protection for your money during the years your family counts on your income.
Permanent coverage (whole, universal and similar products) persists throughout life and accumulates internal cash value. Monthly costs for identical death benefits run considerably higher, and cash growth in the early years moves slowly. Appropriate for those with endless needs: perpetual dependent care, wealth transfer strategy or business planning.
How to choose
Begin with your actual need, not the product. When a need will eventually disappear—a loan you'll pay down, children who'll grow independent—term fits perfectly. When obligations never cease, permanent insurance or a convertible term policy could work. Conversion options are available from many carriers, letting you switch term to permanent without fresh medical review during a window; details appear in the quotes.
What people in Colton often do
The standard approach: pick a 20- or 30-year term sized to your true financial obligations and revisit it when major life changes occur. Keeping premiums manageable lets you purchase adequate coverage now, which is most critical. Susman Insurance Agency stands ready to discuss permanent options if lifelong protection forms part of your planning.