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 fixed span—typically 10, 15, 20, 25, or 30 years—at a locked-in price. Once the term concludes, coverage ceases or resumes at far higher rates. It is the most affordable route to substantial protection during a family's highest-need years.
Permanent life (whole life, universal life, and variants) runs for life and accumulates cash value. Premiums cost much more than term for equivalent benefits, and cash buildup is sluggish early on. It fits lifelong requirements: caring for a dependent indefinitely, managing estate taxes, or funding a business transition.
How to choose
Think need first, product second. Does your obligation have an expiration—a paid-off mortgage, grown children? Term aligns perfectly. Is support needed forever? Permanent or convertible term may apply. Many carriers allow conversion from term to permanent without new underwriting in a set window; the quote results show each carrier's rules.
What people in Redlands often do
Many favor a 20- or 30-year term matched to current household obligations, then revisited as life shifts. This strategy locks in rates low enough to secure sufficient protection today—the critical goal. Talk to Susman Insurance Agency about permanent options if lifelong coverage fits your situation.