Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life provides a defined death benefit through a stated period—typically 10, 15, 20, 25 or 30 years—at a consistent monthly rate. Once this interval expires, protection ceases or renews at considerably higher cost. It represents the cheapest method to secure significant protection when household dependence is highest.
Permanent life (whole, universal and related products) is structured to cover your whole life and accumulates monetary value as part of the policy. Monthly payments run substantially higher for the equivalent death benefit, and cash grows modestly in the first years. Choose it for persistent situations: ongoing care for a dependent, estate preservation, or succession planning for a company.
How to choose
Begin with your real need rather than a type of product. For needs with expiration points—a loan that gets paid off, kids reaching autonomy—term matches the obligation directly. When a need has no endpoint, permanent coverage or convertible term may be suitable. Many companies allow converting term to permanent at any time during a designated window without going through underwriting again; each quote indicates conversion rules.
What people in Claremont often do
The typical choice involves selecting a 20- or 30-year term with a death benefit aligned to the family's genuine costs, and revisiting every few years as conditions shift. This method keeps costs reasonable today so you can afford adequate coverage now—which is what truly counts. The team at Susman Insurance Agency is ready to explore permanent structures if your situation warrants perpetual protection.