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 death benefit if death occurs within your chosen period—typically 10, 15, 20, 25, or 30 years—with level premiums throughout. After the term concludes, coverage ends or renews at substantially higher rates. It is the most affordable method to obtain large coverage during the years when family protection matters most.
Permanent insurance (whole life, universal life, and variants) remains active for your entire life and accumulates cash value within the contract. Monthly premiums are substantially higher than term for identical death benefits, and cash value builds gradually at first. This approach fits those with permanent requirements: a perpetually dependent person, estate planning needs, or business continuity planning.
How to choose
Start with what you truly need, not the product. If your need ends—mortgage paid off, kids grown—term fits perfectly. If your need never ends, permanent insurance or convertible term may work. Many carriers let you convert term to permanent with no new underwriting inside a window; the quote tool shows each carrier's conversion rules.
What people in West Hollywood often do
A common path: 20 or 30 year term sizing your real obligations, checked as life shifts. Keeps the payment doable so you get enough protection now—that's what matters. When permanent protection fits your picture, Susman Insurance Agency can review those options.