Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term protection provides a set death payout if you pass during your chosen interval (10, 15, 20, 25, or 30 years), then expires.
Whole life, universal life (and related permanent policies) remain in place indefinitely as long as premiums are paid, and provide a death payout whenever death occurs.
How to choose
Begin by identifying the need, then pick a term to match. If your need ends in 15 years, a 15-year term makes sense.
What people in Milpitas often do
A popular plan uses a 20- or 30-year period, with the amount matching your mortgage, outstanding debts, income replacement years, and kids' schooling.