Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term coverage delivers a set death benefit during a defined span—typically 10, 15, 20, 25 or 30 years—in exchange for fixed premiums. At term's end, protection lapses or continues at raised rates. It offers the most economical path to substantial coverage during a family's highest-need years.
Permanent coverage (whole life, universal life and others) remains active throughout your life and accumulates cash inside the policy. Premiums are much steeper for the same death benefit, and early cash value growth is gradual. It works for lifelong obligations: an always-dependent family member, estate preservation, or business continuity.
How to choose
Begin with your need, not the product type. Needs with expiration dates—a mortgage payoff year, children's independence—align naturally with term. Perpetual needs might call for permanent protection or term with conversion rights. Many carriers permit term-to-permanent conversion without fresh medical exams during a window; quotes display each carrier's conversion rules.
What people in Sunnyvale often do
Most households select a 20- or 30-year term matched to genuine obligations and revisit when life shifts. This approach keeps premiums affordable now while securing sufficient benefit, which is the priority. Should lifelong protection fit your situation, Susman Insurance Agency explores permanent products.