Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term insurance provides a set death benefit for a fixed span—typically 10, 15, 20, 25 or 30 years—at a constant price. Expiration halts coverage or triggers steep renewal rates. It remains the most cost-efficient method to obtain substantial protection during peak family need.
Permanent coverage (whole life, universal life, hybrids) remains active for life and accumulates cash value. Monthly fees are substantially steeper for equivalent benefits, with slow value growth in year one. It fits lifelong obligations: perpetual dependent care, estate settlement costs, or buy-sell arrangements.
How to choose
Build from necessity, not product. Finite needs—a loan maturing, children growing independent—suit term perfectly. Perpetual needs warrant permanent insurance or term with conversion. Most carriers permit term-to-permanent conversion within a defined window without new underwriting; our quotes detail each carrier's rules.
What people in Dublin often do
A proven strategy: adopt a 20- or 30-year term matching actual household obligations, then revisit at life milestones. This approach sustains affordability and adequate coverage today—the priority. Susman Insurance Agency welcomes discussion of permanent options should your situation call for it.