Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term coverage supplies a set amount if death occurs in a chosen window—10, 15, 20, 25, or 30 years—at constant rates. At expiration, protection expires or costs surge annually. The most cost-efficient option for meaningful protection when family needs are greatest.
Permanent protection (whole, universal, and similar products) covers you for life and earns inside cash worth. Substantially pricier for equal death payout, with cash worth building gradually at start. Right for those with permanent needs: lifelong dependent support, wealth distribution, or company transfers.
How to choose
Build from the need up. Term fits when need has limits: debt that gets retired, kids becoming self-sufficient, business loans ending. Never-ending obligations might need permanent coverage or convertible term. Conversion clauses in most policies let you switch to permanent inside a window without medical re-check; review each insurer's terms in quotes.
What people in Foster City often do
Many pick 20- or 30-year term aligned with tangible obligations, revisiting when life shifts. It maintains costs reasonable while securing needed amounts in the present—the thing that counts. Susman Insurance Agency discusses permanent or hybrid options when your picture includes permanent coverage.