Life Insurance: Term vs. Permanent Coverage
Insurance is one of those things many people know they need but quietly hope they can put off figuring out later. Glenn Potolsky has built his business on the idea that “later” is often when families wish they had asked the questions sooner.
Potolsky, who owns and operates an Allstate agency at 42 Maple St. in Summit, has become a trusted local resource, helping residents navigate complex financial decisions, particularly when it comes to life insurance.
From his downtown Summit office, Potolsky works with individuals, couples and families navigating one of the most common points of confusion in insurance planning: the difference between term life and permanent life insurance.
It is a topic he says comes up almost daily, often triggered by major life changes such as marriage, the birth of a child, buying a home or planning for retirement.
“Life insurance isn’t one-size-fits-all,” Potolsky said. “People hear the terms, but they don’t always understand how differently these policies function or how closely the right choice depends on where you are in life.”
Term life insurance, Potolsky explained, is designed to provide coverage for a specific period of time — often 10, 20 or 30 years. It is typically the most affordable option and is commonly used to cover temporary needs such as replacing income, paying off a mortgage or ensuring children’s education costs are protected if something unexpected happens.
For many working families, that simplicity is appealing. The tradeoff is that once the term ends, coverage expires, there is no accumulated cash value, and renewing later in life can come with higher premiums.
Permanent life insurance works differently. These policies are designed to last a lifetime, as long as premiums are paid, and include a cash value component that grows over time. That cash value can be accessed later and is often used as part of broader financial or estate planning.
“Permanent life insurance can be a powerful tool, but it’s also more complex,” Potolsky said. “It’s not just about protection — it can support long-term goals — but it isn’t always the most cost-effective option if someone only needs coverage for a limited time.”
Helping clients weigh those differences is where Potolsky believes his role as a local business owner matters most. Rather than selling policies off a checklist, he focuses on understanding a client’s goals, budget and timeline before recommending an approach.
That consultative style has shaped how Potolsky runs his Summit agency. He is active in the local community and works closely with residents who want straightforward explanations without pressure.
“The goal is clarity,” he said. “Once people understand the basics, they’re much more confident making decisions that protect their families.”
Glenn Potolsky | Allstate Insurance
42 Maple St., Summit
& 908-502-5500
glennpotolsky@allstate.com
@ allstate.com/glennpotolsky
- Life insurance guidance
- Term vs. permanent coverage
- Personalized financial protection
Potolsky said choosing between term and permanent life insurance often starts with asking the right questions, not rushing to an answer. For some, affordable coverage during working years is the priority. For others, lifelong protection paired with a savings component makes sense.
Understanding the difference, he added, is often the first step toward peace of mind.
For more information, contact Glenn Potolsky at 908-502-5500 or glennpotolsky@allstate.com,
or visit allstate.com/glennpotolsky.