Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life delivers a set benefit during a fixed timeframe—typically 10, 15, 20, 25 or 30 years—in return for a stable monthly payment. Once the term expires, the coverage terminates or renews at significantly increased annual rates. It's the most affordable way to secure a substantial benefit during the years when your family needs it most.
Permanent life policies (whole life, universal life and similar variations) extend over your entire lifespan and accumulate an internal cash reserve. Because they're meant to last a lifetime, their premiums are substantially higher for comparable benefits, and cash buildup is gradual at the start. Permanent policies make sense for people with needs that won't expire: a dependent requiring lifelong care, wealth transfer planning, or business succession strategy.
How to choose
Begin with your actual needs rather than product types. For needs with a definite end—like a home loan that will be repaid or kids who will grow up—term life aligns perfectly. For indefinite needs, permanent insurance or a convertible term plan may serve you better. Conversion options available from most carriers allow switching term to permanent later without additional health underwriting, and the quote tool details each carrier's conversion rules.
What people in La Mirada often do
Most households find success with a 20 or 30 year term matched to their financial obligations, revisited if their circumstances change. This approach keeps premiums manageable, enabling them to purchase sufficient coverage today, which is ultimately the most critical factor. If a lifetime component belongs in your picture, Susman Insurance Agency can explore permanent options.