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 fixed death benefit if you pass away within a specified period—typically 10, 15, 20, 25, or 30 years—while paying consistent monthly premiums. Once the term concludes, coverage lapses or extends at significantly elevated rates. It represents the lowest-cost method to obtain substantial protection during a family's most vulnerable years.
Permanent life (whole life, universal life, and variations) remains active throughout your lifetime and builds a cash component. The monthly cost for the same death benefit is substantially higher, and the cash growth is minimal in the beginning years. This approach suits individuals with lifelong obligations: a dependent requiring permanent support, wealth transfer needs, or business continuity planning.
How to choose
Start by identifying the need first, not by picking a product type. If your obligation has an expiration date—a mortgage you will finish paying, children who will be self-sufficient, a debt with a payoff date—term insurance aligns cleanly. If you have a permanent obligation, a permanent policy or term with a conversion rider might work better. Most carriers permit converting term to permanent during a window without requiring fresh health approval; quotes on this site display each carrier's conversion rules.
What people in San Bruno often do
A common strategy involves a 20- or 30-year term matched to your family's genuine financial commitments, with review as your situation evolves. This keeps premiums affordable enough to secure an adequate amount right now, which is where the real value lies. If lifelong coverage fits your plan, Susman Insurance Agency is available to review permanent alternatives.