Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life delivers a set death benefit if you pass away within the chosen window—typically 10, 15, 20, 25, or 30 years—at a flat rate. At term's end, coverage lapses or renews at a substantially higher cost. It's the budget-friendly route to substantial protection during the years when your income counts most.
Permanent life (whole life, universal life, and variants) remains active for your entire life and accumulates cash value within the contract. Monthly costs run much higher for equal death benefits, with value building gradually at the start. It suits those with permanent needs: a lifelong dependent, estate tax planning, or succession funding.
How to choose
Begin with your need, not the product type. If your obligation has an expiration—a 15-year mortgage or a child leaving at 18—term coverage aligns perfectly. For indefinite needs, permanent policies or convertible term may be right. Numerous carriers permit converting term to permanent within a grace period without re-underwriting; the tool lists each carrier's conversion rules.
What people in La Verne often do
A practical choice: a 20- or 30-year term matching your genuine liabilities, revisited if life shifts. Affordable premiums mean you can afford sufficient coverage today—the real priority. Contact Susman Insurance Agency if you foresee permanent needs.