Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life pays a fixed death benefit if you die during a set period, usually 10, 15, 20, 25 or 30 years, in exchange for a level premium. When the term ends, coverage stops or renews at a much higher annual rate. It is the least expensive way to buy a large benefit for the years a family needs it most.
Permanent life (whole life, universal life and their variants) is designed to stay in force for your lifetime and builds a cash value inside the policy. Premiums are considerably higher for the same death benefit, and the cash value grows slowly in early years. It suits people with lifelong needs: a dependent who will always need support, estate liquidity, or a business succession plan.
How to choose
Start from the need, not the product. If the need has an end date, a mortgage that will be paid off, children who will be independent, term coverage matches it cleanly. If the need never ends, a permanent policy or a term policy with a conversion option may fit. Many carriers let you convert term to permanent without new medical underwriting during a conversion window; the quote tool shows each carrier's conversion terms.
What people in Los Angeles often do
A common approach is a 20- or 30-year term policy sized to the household's real obligations, reviewed when circumstances change. It keeps the premium low enough to buy an adequate amount now, which is what matters most. Susman Insurance Agency can discuss permanent options if a lifelong need is part of your picture.