Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life pays the benefit if death occurs during a chosen timeframe—most commonly 10, 15, 20, 25 or 30 years—with a fixed monthly payment that doesn't change. Once the term expires, coverage concludes or can renew at sharply higher rates. It's the most affordable way to secure substantial protection during the years your family depends on your income.
Permanent life (whole life, universal life and similar types) covers you for your whole life and accumulates money inside the policy you can borrow against. Monthly costs are much higher than term for equal protection, and the cash part grows slowly at first. This fits people with ongoing needs: someone always dependent on you, settling an estate, or a succession plan for a business.
How to choose
Lead with what you actually need, not the product type. When the need is time-limited—a loan you'll pay off, kids who'll grow up—term coverage aligns perfectly. When a need persists, permanent insurance or a convertible term might work better. Many carriers permit switching term to permanent without redoing medical exams, within a conversion period; the quote tool shows each carrier's rules.
What people in Loma Linda often do
A practical strategy: pick a 20- or 30-year term based on what your family actually needs, and review it as your situation evolves. This approach keeps monthly costs manageable so you can afford the coverage you need today. Susman Insurance Agency can explore permanent options if you have obligations that never end.