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 during a fixed period—typically 10, 15, 20, 25, or 30 years—for a flat premium. At the end of the term, coverage ends or you can renew at a higher rate. It's the cheapest way to get a big benefit while a family needs it most.
Permanent life (whole life, universal life, and similar products) stays in force your whole life and accumulates cash value inside. Premiums cost much more than term for the same benefit, and early cash value growth is slow. It fits people with ongoing needs: a dependent who always needs support, estate money, or business continuity.
How to choose
Start with the need, then pick the product. If the need ends—a paid-off mortgage, kids grown—term coverage is a clean fit. If the need doesn't end, permanent insurance or term with a conversion choice might work. Many carriers allow converting term to permanent without redoing the medical exam, during a set window; the quote tool lists each carrier's conversion rules.
What people in Cypress often do
A practical approach: a 20- or 30-year term policy matching the household's actual obligations, looked at again when things change. It keeps premiums low enough to buy enough coverage today—the important part. If a lifetime need fits your situation, Susman Insurance Agency can explore permanent choices.