Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term coverage pays the full death benefit during a specified time frame—typically 10, 15, 20, 25, or 30 years—while your premium stays fixed. Once the term concludes, coverage can either end or renew at a much steeper rate. It's the most economical way to secure a substantial benefit during the period when your family relies on your income.
Permanent coverage (whole life, universal life, and variations thereof) is built to remain in effect throughout your life and accumulates cash reserves inside the policy. The monthly cost is substantially higher compared to term for the same death benefit, and cash value accrual is slow in the early years. This approach works well for people facing lifelong financial commitments: a dependent with ongoing support needs, the need for quick access to cash, or a business succession matter.
How to choose
Start with the obligation, not the insurance type. When the obligation has a finish line—a mortgage payoff date, children's graduation, business loan maturity—term coverage addresses it directly. When the obligation is permanent—a family member who will always depend on support, a business continuity concern, or an estate goal—permanent insurance or a convertible term policy may be appropriate. Most carriers allow converting term to permanent without re-underwriting during a window; the quote tool displays each carrier's conversion options.
What people in El Cajon often do
A well-tested approach uses a 20- or 30-year level-premium term policy matched to your household's genuine financial responsibilities, with a review whenever life circumstances shift. This strategy keeps the monthly payment low enough to purchase an adequate amount at the outset, which tends to be the highest priority. Susman Insurance Agency can address permanent insurance options if your situation includes obligations that would never end.