Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term insurance pays your chosen death benefit if you die during the stated period—typically 10, 15, 20, 25, or 30 years—in return for a fixed monthly premium. When the term finishes, coverage stops or you can renew at a significantly higher rate. It's the least costly way to get substantial protection during your family's most vulnerable years.
Permanent policies (whole life, universal life variants) remain in force your entire life and build cash surrender value over time. Monthly costs are substantially higher than term for the same death benefit, and cash value grows slowly at first. These work well for individuals with permanent needs: a dependent requiring lifelong support, estate planning, or business continuity.
How to choose
Start with what you need, not what's being sold. When a need has a deadline—a mortgage that will be satisfied, children who will become independent—term coverage aligns perfectly. When a need is permanent, a permanent policy or convertible term may be the answer. Many carriers permit you to convert term to permanent coverage without redoing medical underwriting during a specified window; the quote tool displays each carrier's conversion options.
What people in Petaluma often do
A practical strategy: a 20- or 30-year term policy set to match your household's actual commitments, reassessed when life circumstances change. This strategy keeps costs manageable enough to purchase sufficient coverage right now—which is what counts. If a permanent need exists in your situation, Susman Insurance Agency can explore those alternatives with you.