Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life covers a set period (10, 15, 20, 25 or 30 years) at a level premium. When the term ends, coverage stops or renews at a higher rate. It is the cheapest way to buy substantial protection during the years your family depends on your income.
Permanent life (whole life, universal life and variations) stays active for your lifetime and builds an internal cash value. Monthly costs run much higher for the same death benefit, and cash value grows slowly in the early years. It fits people with ongoing needs: a family member who will always need support, an estate that needs liquidity, or a business transition plan.
How to choose
Start with the obligation, not the product type. If the need has a finish line—a mortgage to clear, children becoming independent—term coverage lines up naturally. If the need lasts forever, permanent insurance or a convertible term policy may suit you better. Most carriers allow you to convert term to permanent without new underwriting if you do it during the conversion window; quotes show each carrier's terms.
What people in Lodi often do
A popular approach is a 20- or 30-year term sized to your real financial obligations, revisited when life changes. This keeps premiums affordable enough to buy adequate coverage now—which is what counts most. Susman Insurance Agency can explore permanent options if lasting obligations are part of your situation.