Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life pays out your chosen death benefit if death happens in the contract period—usually 10, 15, 20, 25 or 30 years—and your monthly payment stays the same the whole time. Once the term is up, the coverage stops or renews at a much higher cost. It's the cheapest way to cover large amounts when your family needs it most.
Whole life, universal life and similar options stay active your whole life and accumulate cash inside the contract. You'll pay much more than term life for the same benefit amount, and the cash grows slowly at first. This approach works for situations where the need never ends: caring for a dependent with lifetime needs, providing money for the estate, or a succession plan for your business.
How to choose
Start with what you actually need to cover, not with picking a product type. Needs with an expiration—a home loan, kids in school, a business debt—match well with term. Needs that last forever—permanent care for a family member, ongoing business needs—might call for permanent coverage or a conversion option. Most carriers let you trade a term policy for permanent without repeating medical underwriting, if you do it during a set window; our quotes show each company's conversion details.
What people in Dublin often do
A typical strategy is a 20- or 30-year term for what your family actually owes and needs, reassessed when big life changes happen. This approach keeps monthly costs reasonable so you can lock in enough coverage right now, and that's what's important. If your picture includes permanent coverage, Susman Insurance Agency is ready to talk through those choices too.