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 death benefit during a set period (typically 10, 15, 20, 25 or 30 years) in exchange for a fixed premium. When the term ends, coverage stops or renews at a higher cost. It is the cheapest way to buy adequate protection when a family needs it most.
Permanent insurance (whole life, universal life and variants) is meant to last your whole life and accumulates cash value within the policy. The monthly premium is much higher for the same death benefit, and early cash value growth is slow. It fits people with permanent needs: a family member who will always require support, estate taxes, or a business continuation plan.
How to choose
Begin with the need, not the product. If the need has a finish line (a paid-off mortgage, independent children, a business loan repaid), term coverage fits it well. If the need lasts forever, permanent insurance or a term policy with a conversion rider may work. Conversion windows let you change term to permanent without another health exam; each carrier's conversion terms show in the quote tool.
What people in Covina often do
A practical approach is a 20- or 30-year term matched to household debts and dependents, reviewed if circumstances shift. This keeps the monthly cost reasonable so you can buy enough coverage, which is what matters most. Susman Insurance Agency can discuss permanent options if your needs include something with no end date.