Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life insurance pays the death benefit only if you pass away during the term—10, 15, 20, 25, or 30 years.
Permanent life insurance (whole life, universal life, variable universal life) lasts your entire lifetime and builds a cash value over time.
How to choose
Start with the need first. If your need is temporary (young child, mortgage), term makes sense. If you'll need coverage at 80, permanent becomes relevant.
What people in Lakewood often do
A practical strategy: get a 20- or 30-year term policy matched to your debts and dependents' timeline, then reassess when the term ends.