Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life guarantees a death benefit if you pass away within your chosen window—typically 10 to 30 years—for a fixed monthly cost. After the term expires, coverage ceases or renews at a higher rate. It offers the most affordable path to substantial protection when your family depends on your income.
Permanent life (whole life, universal life, and similar products) provides lifelong coverage and accumulates a cash component. Premiums are substantially higher than term for identical benefits, and the cash value accrues slowly initially. Consider it for permanent obligations: a forever-dependent family member, estate settlement funds, or succession planning.
How to choose
Build from what you need, not from product features. Needs with timelines—mortgages, school years, dependents turning 18—align naturally with term. Permanent needs pull toward permanent insurance or convertible term. Conversion options let many carriers switch term to permanent without fresh underwriting during a defined window; quotations here reflect each carrier's conversion rules.
What people in San Bruno often do
Many people select a 20 or 30 year term matched to their actual obligations, revisiting as life shifts. This strategy maintains affordable premiums while securing the protection you need today—the priority that counts. Should you have permanent needs, Susman Insurance Agency explores those possibilities.