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 fixed payment if you die within the term (10, 15, 20, 25, or 30 years), with an unchanging premium. When the term runs out, the policy ends or renews at a higher rate. It's the cheapest way to secure a large benefit during the years your family depends on your income.
Permanent insurance (whole life, universal life, variations) stays with you for life and builds a cash balance. Monthly payments are much steeper for the same death benefit, and cash value grows slowly at first. Pick this if you have endless needs: a dependent who'll always need support, to leave an estate, or for business planning.
How to choose
Start with what you're protecting, not what products exist. A definite end date—mortgage paid, kids independent—means term is the clean match. If your need never ends, permanent or term-with-conversion may work. Many carriers let you switch term to permanent later without new medical review if you do it in time; the tool shows each carrier's window.
What people in Upland often do
Most households pick a 20- or 30-year term to match what they owe and how long they'll have dependents, then review when circumstances shift. Keeps premiums low so you can afford the right amount today. If a permanent need fits your situation, Susman Insurance Agency is happy to walk you through that option.