Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life covers you for a set number of years—commonly 10, 15, 20, 25, or 30. You pay a level monthly amount, and if you die during the term, your beneficiary gets the full amount. When the term ends, you can renew at a higher rate. It's the cheapest way to protect a large amount for the years your family needs it most.
Permanent life (whole life, universal life, and related types) is designed to last your lifetime and builds cash value inside the contract. It costs much more than term for the same death benefit, and early cash value growth is slow. It works best for people with ongoing needs: a dependent requiring care forever, needing cash for taxes, or planning business succession.
How to choose
Lead with what you need, not a product type. If the need has an end date—a mortgage getting paid off, kids becoming independent—term coverage is a clean fit. If the need is permanent, a permanent policy or convertible term might be right. Conversion features let you switch from term to permanent later without new medical underwriting.
What people in El Cajon often do
A practical strategy: a 20- or 30-year term sized for real household costs, reviewed when life changes. This keeps the monthly cost manageable so you can afford enough coverage right now—which is what counts. Susman Insurance Agency can explore permanent options if your situation includes ongoing needs.