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 fixed timeframe—typically 10, 15, 20, 25, or 30 years—at a flat monthly rate. Once the period closes, coverage ends or renews at a higher cost. It's the most affordable path to substantial protection during your family's neediest years.
Permanent life (whole life, universal life, and similar types) lasts your whole life and accumulates cash value. Monthly costs are much steeper than term for identical death benefits, and cash value starts slowly. It fits people with ongoing needs: a dependent requiring lifetime care, estate liquidity, or ownership transition planning.
How to choose
Think of the need first, not the product type. Term works best when your need has an expiration: a mortgage payoff date, kids finishing school, a loan's maturity. If the need lasts forever, permanent or convertible term may suit you. Many carriers allow term-to-permanent conversion without re-underwriting inside a set window; check each carrier's conversion rules in the quote tool.
What people in Monrovia often do
Many households choose 20- or 30-year term coverage matched to actual obligations and revisited as life shifts. This strategy keeps monthly costs down so you can secure enough protection today—the priority. If a lasting need fits your situation, Susman Insurance Agency explores permanent coverage.