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 set death benefit if you pass away during a specific period—typically 10, 15, 20, 25, or 30 years—for a consistent premium level. Once the term expires, coverage ends or continues at much higher annual rates. It's the most cost-effective approach to get a substantial death benefit during the years your family depends on your income most.
Permanent life (whole life, universal life and variations) is designed to remain active throughout your lifetime and accumulates a cash value within the policy. Premiums are substantially higher per thousand dollars of death benefit compared to term, and the cash value grows slowly in the early years. This option is chosen by people with lasting needs: a dependent requiring lifelong care, or a business succession plan.
How to choose
Begin with the need, not the product category. If your need has an expiration date—a mortgage that will be paid off, kids who will become independent—term insurance lines up perfectly. If your need is indefinite, permanent coverage or a term policy with conversion privileges may suit you better. Many carriers permit switching term coverage to permanent without re-underwriting during a specified conversion window; our quotes detail each carrier's rules.
What people in Antioch often do
A practical approach is a 20 or 30 year term policy matched to your household's actual financial obligations, revisited as circumstances shift. This keeps the monthly payment affordable enough to buy adequate protection right now, which is the part that truly matters. Susman Insurance Agency can walk through permanent insurance options if your situation includes a need that won't ever end.