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 set benefit if death occurs within a chosen span—most commonly ten, fifteen, twenty, twenty-five or thirty years—while you pay a flat annual rate. Once the term finishes, your coverage ends unless you renew (which costs far more) or convert to permanent. It's the most cost-effective way to secure a meaningful benefit during your family's most vulnerable years.
Lifelong coverage (whole life and universal life types) is built to last your entire life and accumulates a cash reserve. Premiums cost substantially more for the same benefit amount, and the savings component builds slowly at first. This approach works best for people with permanent responsibilities: a family member needing lifetime care, need for estate tax payment, or business ownership transitions.
How to choose
Start with your actual need, not the type of product. When that need has a finish line—a home loan that'll be repaid, kids becoming independent—term fills the gap perfectly. For needs without an endpoint, permanent coverage or term with conversion rights might be the answer. Many insurers let you switch from term to permanent later without new underwriting, provided you're still within the conversion period; our tool shows what each carrier allows.
What people in Glendale often do
A practical strategy: take out a 20- or 30-year term for what your household truly needs, and review that coverage whenever your life changes. This approach keeps the premium reasonable so you can afford enough coverage right now, which is what counts most. Susman Insurance Agency can walk you through permanent products if long-term needs fit your picture.