Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life gives you a death benefit if something happens to you in a fixed window—typically 10, 15, 20, 25 or 30 years—for a single, level payment each year. The policy expires when the term is up unless you renew (usually at a higher rate). It's the most affordable way to get substantial protection during the years your family genuinely needs it.
Permanent coverage (whole life, universal life and variations) is meant to keep your protection in place for life and accumulates cash value you can borrow from. It costs a lot more for the same benefit and the cash value takes time to build, but it's right for people with ongoing needs: supporting someone who will always depend on you, passing money to the next generation, or setting aside funds for a business.
How to choose
Start with what you actually need, not which product sounds appealing. If the need ends at a point—a loan gets repaid, kids grow up—term coverage lines up perfectly. If something always needs to be covered, permanent insurance or term with an option to convert might be right. A lot of carriers allow you to turn your term policy into permanent coverage without reexamining your health; the quote tool shows each carrier's conversion rules.
What people in Redwood City often do
A smart strategy: a 20 or 30-year term sized to real debts, with a review if major life changes happen. This keeps your premiums manageable now so you can afford real coverage, which is the real priority. If permanent coverage makes sense for part of your situation, talk to Susman Insurance Agency about those options too.