Types of life insurance, compared
Term, whole, universal, indexed universal, guaranteed issue and final expense — how each works, what it costs, and which situations each one fits best.
Final expense & burial
For adults roughly 45 to 85 who want funeral costs and final bills covered, with simple health questions instead of a medical exam.
See final expense optionsFree · No obligation · Licensed agents
Guides
Whole Life vs. Guaranteed Universal Life: Which Fits You?
Guaranteed universal life (GUL) is built to deliver a lifetime death benefit for a lower premium, but it builds little or no cash value and its guarantee depends on paying the required premium on time. Whole life costs more, but it guarantees the premium, the death benefit, and a growing cash value you can borrow against or surrender.
Editorial Team · September 30, 2026
Which Life Insurance Is Best for You? A Guide by Situation
The best life insurance is the type whose length matches your need: term for needs that end, like raising kids or paying a mortgage, and permanent coverage for needs that never end, like final expenses. Veterans leaving service, seniors on a fixed income, and people with serious health conditions each have specific options worth checking first.
Editorial Team · September 30, 2026
Types of Life Insurance Compared: Every Policy Side by Side
There are two families of life insurance: term, which covers you for a set number of years at the lowest cost, and permanent (cash value) insurance such as whole, universal, indexed, and variable life, which can last for life. Final expense, simplified issue, and guaranteed issue policies are usually small whole life policies that are easier to qualify for.
Editorial Team · September 30, 2026
IUL vs. Whole Life Insurance: Guarantees vs. Flexibility
Whole life insurance locks in your premium, death benefit, and a guaranteed cash value, and some policies may add dividends that are not guaranteed. Indexed universal life (IUL) lets you adjust premiums and ties cash value growth to a market index, but its caps can change and the policy can lapse if it is underfunded.
Editorial Team · September 30, 2026
Guaranteed Issue vs. Simplified Issue Life Insurance
Simplified issue life insurance skips the medical exam but asks health questions, so you can be declined, and if you're approved for a level plan the full benefit usually starts right away. Guaranteed issue asks no health questions and can't turn you down for health reasons, but it costs more per dollar, offers smaller amounts, and usually pays only premiums plus interest for a natural death in the first two years.
Editorial Team · September 30, 2026
IUL vs. Term Life Insurance: Cost, Risk, and Who Each Fits
Term life insurance gives you the most death benefit for your money for a set number of years, and it has no cash value to manage. Indexed universal life (IUL) can last for life and builds cash value tied to a market index, but it costs much more and can lapse if it is underfunded or the index credits less than illustrated.
Editorial Team · September 30, 2026
Common questions
What is the cheapest type of life insurance?
Term life insurance usually costs the least per dollar of coverage because it only lasts a set number of years and builds no cash value.
See final expense optionsWhich type of life insurance lasts your whole life?
Whole life, guaranteed universal life, and most final expense policies are designed to last for life as long as premiums are paid. Indexed and variable universal life can also last for life, but only if the policy stays adequately funded.
See final expense options