Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life pays out if you die during its set term—10, 15, 20, 25 or 30 years—in return for level payments. After the term runs out, protection ends or costs much more to renew. It's the affordable way to get real death benefits during the years when the family needs it most.
Permanent life (whole life, universal life, and variants) is built to stay in effect for life and builds a cash value inside. It's significantly more expensive for the same death benefit, and cash value growth is slow at first. Right for lifelong needs: a dependent with permanent support needs, passing money to an estate, or business succession.
How to choose
Start with the obligation, not the policy. Has an end date—mortgage paid off, kids independent, loan matured? Term coverage handles that directly. Never ends—always-dependent family member, tax liability, business need? Permanent or term-with-conversion might be right. Most carriers offer conversion windows that let you switch term to permanent without new underwriting.
What people in Redondo Beach often do
Most choose 20 or 30 years for a term sized to their household's actual obligations, then check back when circumstances shift. Keeps premiums affordable enough to buy adequate coverage now—what truly counts. Susman Insurance Agency is ready to explore permanent options if your plan includes lasting needs.