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 death benefit if you pass away within a chosen span—typically 10, 15, 20, 25 or 30 years—at a flat monthly cost. After the term closes, the policy lapses or moves to much higher rates. It is the most affordable way to secure substantial coverage through a family's crucial years.
Permanent life (whole life, universal life and variants) runs for your entire life and accumulates cash value inside the contract. For the same death benefit, the monthly cost is much higher, and cash value takes years to build meaningfully. It works for lasting needs: care for a dependent throughout life, money for estate taxes, or a company succession strategy.
How to choose
Begin with the need itself, not the product. If there is an endpoint—a mortgage to clear, kids who will grow up—term coverage aligns perfectly. For permanent needs, permanent insurance or a convertible term may work better. Most carriers allow conversion from term to permanent during a window without additional medical review; each quote lists conversion rules.
What people in Sacramento often do
A practical strategy uses a 20- or 30-year term matched to actual household needs and revisited as life shifts. The low cost lets you buy the right amount today, which is the priority. If you have a lasting need, Susman Insurance Agency can explore permanent coverage with you.