Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term insurance provides a set death benefit during a set window—usually 10, 15, 20, 25 or 30 years—at a fixed cost per month. After that period, coverage ends or renews at significantly higher rates. It is the most cost-effective option to purchase substantial protection while a household most needs it.
Permanent insurance (whole life, universal life and similar products) is meant to cover your whole life and builds value inside the policy. Monthly costs are much higher than term for the same death benefit, and value accrual is slow in early years. Choose permanent insurance when needs are lifelong: supporting a dependent indefinitely, estate taxes, or succession in a family business.
How to choose
Start with the obligation, not the product category. When the obligation has an end date—a home loan paid off, children raised to independence—term insurance aligns perfectly. If the obligation is indefinite, permanent insurance or a convertible term may work. Conversion options with many carriers let you switch term to permanent later without redoing health underwriting; the quote display shows each company's conversion rules.
What people in Santa Rosa often do
A widely adopted strategy: buy a 20- or 30-year term sized to genuine family obligations, and recheck whenever life changes. This approach keeps monthly costs low enough to buy real coverage now—the most important goal. Susman Insurance Agency can explore permanent strategies if your situation includes lifelong obligations.