Types of Life Insurance

Term, whole and universal life insurance are the most common types. Specialty options may better suit certain situations.

Find out if you're overpaying for life insurance below.

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Updated: October 27, 2025

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Key Takeaways
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The three main types of life insurance are term (temporary coverage), whole life (permanent with fixed premiums) and universal life (permanent with flexible premiums). Each offers different costs, coverage lengths and features.

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Specialty types include no-exam policies, final expense insurance for burial costs, AD&D for accident-only coverage and joint life for couples.

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The right type of life insurance fo you depends on whether you need temporary protection (term), lifetime coverage with cash value (whole life), investment flexibility (universal life) or simplified approval (no-exam policies).

What Are the Different Types of Life Insurance?

Life insurance isn’t limited to just term or whole policies. Multiple types are designed for different needs, from short-term coverage to lifelong protection to end-of-life costs. Some policies offer affordability with no frills, while others build cash value or provide flexible benefits. Start with a clear breakdown of the major categories and how they work:

  • Term Life Insurance: The best option for 90% of buyers. Covers you for a set number of years (e.g., 10, 20, or 30). It’s often the lowest-cost option and pays a benefit only if you pass away during the term.
  • Whole Life Insurance: A permanent policy with fixed premiums, guaranteed death benefit, and cash value that grows over time. It’s stable but usually more expensive.
  • Universal Life Insurance: Also permanent, but with flexible premiums and adjustable coverage. Variants like variable and indexed universal link your policy's value to market performance.
  • No-Exam Life Insurance: Includes simplified and guaranteed issue policies. These skip the medical exam but often cost more and offer lower coverage limits.
  • Group Life Insurance: Offered through employers or associations. Coverage is often limited, and policies may not be portable if you leave your job.
  • Final Expense Insurance: Designed to cover funeral and burial costs. Small coverage amounts, typically $5,000 to $25,000, with easy approval for seniors.
  • Accidental Death and Dismemberment (AD&D): Pays a benefit only if death or injury occurs due to an accident. It’s usually a supplemental policy with limited coverage.
  • Joint Life Insurance: Covers two people on one policy. Often used by couples planning around shared financial responsibilities or estate planning.

The right policy for you depends on your age, budget, health and financial goals. Below, we break down each type in detail to help you make the right decision.

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1. Term Life Insurance

Term life insurance covers a specific period, typically 10, 20 or 30 years. If you pass away during the term, your beneficiaries receive a death benefit. If you outlive the policy, the coverage ends with no payout. Term life is straightforward and often the most affordable type of life insurance, making it a popular choice for people protecting dependents during their working years.

Average Term Life Insurance Rates

The average cost of term life insurance changes based on your age when you apply. Review the premium table below to see the average life insurance rates by age, term, coverage level and gender. Actual rates may be higher if you have pre-existing conditions or smoke, as higher-risk applicants pay more.

Data filtered by:
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Male
$500,000
10 years$37$440
15 years$46$551
20 years$55$657
25 years$85$1,025
30 years$94$1,131
35 years$154$1,845
40 years$233$2,800

*The rates above are based on average quotes for nonsmokers with average weight and health ratings. Your actual term life insurance premiums will depend on your coverage needs, age, gender, lifestyle, health and insurance provider.

Types of Term Life Insurance

There are three main types of term life insurance, each structured differently to meet various financial needs.

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    Level Term Life

    A level term policy offers fixed premiums and a constant death benefit throughout the term. You pay the same amount each year, and your beneficiaries receive a guaranteed payout if you die while the policy is active. It’s simple, predictable and widely used for income replacement or family protection.

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    Yearly Renewable Term

    A yearly renewable term (YRT) policy renews annually without requiring a new medical exam. It starts with lower premiums, but the cost increases each year as you age. While it offers short-term flexibility, the rising cost can make it expensive over time. YRT is often used for stopgap coverage between longer-term policies.

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    Decreasing Term Life

    Decreasing term life insurance starts with a set death benefit that gradually reduces over the policy term, while premiums remain level. It’s commonly used to cover debts that shrink over time, like mortgages or loans.

    • Mortgage life policy is structured to pay off your remaining mortgage balance if you die before the loan is repaid. The death benefit decreases alongside your mortgage, and the lender is usually the beneficiary.
    • Credit life insurance is offered with loans or lines of credit. If you pass away before the debt is paid off, the policy pays the remaining balance. The benefit decreases as the loan is repaid, and the policy ends once the balance hits zero.
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TERM LIFE CONVERSION OPTION

If you're considering long-term coverage needs, many term policies include conversion options that allow you to change to permanent coverage without medical exams within specific timeframes (usually the first 10 to 20 years). This flexibility means you can start with affordable term coverage and adapt as your life circumstances evolve.

Term Life Insurance Policies: FAQ

We answer common questions about term life insurance.

What are the pros of term life insurance?

What are the downsides of term life insurance?

What typically changes with the length of a term?

How is term life insurance different from whole life insurance?

Who is term life insurance best for?

2. Whole Life Insurance

Whole life insurance is a type of permanent life insurance that provides lifetime coverage with fixed premiums and a guaranteed death benefit. Whole life insurance also builds cash value over time, which grows at a set rate and can be borrowed against. Because of its predictability and long-term value, whole life insurance is often used for estate planning, covering final expenses or leaving an inheritance.

Unlike term life insurance, whole life insurance doesn't expire. As long as you keep paying the premiums, the policy remains in force. Some versions also offer dividends or investment-linked growth, giving policyholders additional financial flexibility.

Average Whole Life Insurance Rates

Whole life insurance costs more than term policies because it offers guaranteed lifetime coverage and a cash value feature. Compare average whole life insurance rates for different ages and coverage levels:

Data filtered by:
40
Male
$50,000$67$801
$100,000$133$1,602
$150,000$200$2,403
$200,000$267$3,203
$250,000$334$4,004
$300,000$400$4,805
$350,000$467$5,606
$400,000$534$6,407
$450,000$601$7,208
$500,000$667$8,009
$550,000$734$8,809
$600,000$801$9,610
$650,000$868$10,411
$700,000$934$11,212
$750,000$1,001$12,013
$800,000$1,068$12,814
$850,000$1,135$13,615
$900,000$1,201$14,415
$950,000$1,268$15,216
$1,000,000$1,335$16,017
$1,500,000$2,002$24,026
$2,500,000$3,337$40,043

*The rates above are based on average quotes for nonsmokers with average weight and health ratings. Your actual whole life insurance premiums will depend on your coverage needs, age, gender, lifestyle, health and insurance provider.

Types of Whole Life Insurance

There are various types of whole life insurance, each offering different ways to manage costs and grow value. Below are the main types of whole life policies.

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    Indexed Whole Life Insurance

    Indexed whole life insurance links your policy’s cash value to a market index, such as the S&P 500. This gives your policy the potential for higher growth than traditional whole life, without directly investing in the stock market.

    It still includes the core features of whole life: a fixed premium and guaranteed death benefit. Most policies offer a minimum interest rate, protecting your cash value even if the market underperforms. This provides a balance of security and growth potential.

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    Modified Whole Life Insurance

    Modified whole life insurance starts with lower premiums for the first few years, which then increase after a set period (usually five to ten years). This structure makes it easier to afford coverage early on, with the expectation that your income will rise later. This type still includes guaranteed lifelong coverage and builds cash value over time. It’s often chosen by younger buyers or people expecting their finances to improve in the near future.

Participating vs. Non-Participating Whole Life Insurance

Whole life insurance policies can also be classified as either participating or non-participating.

  • Participating whole life insurance may pay dividends based on the insurer’s profits. These dividends can be used to reduce premiums, increase the policy’s cash value or buy additional coverage. While not guaranteed, they can add long-term value to the policy.
  • Non-participating policies don’t pay dividends. Premiums and benefits are fixed and won’t change with the insurer’s financial performance. These policies are usually more affordable and offer stable, predictable terms. They're ideal for buyers who prefer simplicity.
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WHOLE LIFE INSURANCE CASH VALUE

You can borrow against your policy’s cash value, though loans reduce both the death benefit and available cash until repaid. Loan interest applies and may be competitive compared to some consumer loans, but it isn’t always the lowest-cost borrowing option.

Dividends can be taken as cash, used to reduce premiums, purchase additional coverage or left to accumulate with interest.

Whole Life Insurance Policies: FAQ

We answer common questions about whole life insurance.

What is the cash value feature of whole life insurance?

Why is whole life insurance more expensive than term life insurance?

What are the pros of whole life insurance?

What are the downsides of whole life insurance?

Who is whole life insurance best for?

3. Universal Life Insurance (UL)

Universal life insurance (UL) is a permanent life insurance policy that offers more flexibility than whole life. Policyholders can adjust their premiums, death benefits and cash value contributions over time. Unlike fixed-rate whole life policies, UL policies allocate a portion of your premium to a cash value account, which can be invested for potential growth.

Average Universal Life Insurance Rates

Universal life policies have higher premiums than term life but are often cheaper than whole life insurance. Use the table below to compare average universal life insurance quotes for different ages and coverage levels.

Data filtered by:
40
Male
$50,000$29$353
$100,000$59$706
$150,000$88$1,058
$200,000$118$1,411
$250,000$147$1,764
$300,000$176$2,117
$350,000$206$2,470
$400,000$235$2,822
$450,000$265$3,175
$500,000$294$3,528
$550,000$323$3,881
$600,000$353$4,234
$650,000$382$4,586
$700,000$412$4,939
$750,000$441$5,292
$800,000$470$5,645
$850,000$500$5,998
$900,000$529$6,350
$950,000$559$6,703
$1,000,000$588$7,056
$1,500,000$882$10,584
$2,500,000$1,470$17,640

*The rates above are based on average quotes for nonsmokers with average weight and health ratings. Your actual universal life insurance premiums will depend on your coverage needs, age, gender, lifestyle, health and insurance provider.

Types of Universal Life Insurance

There are two main types of UL: indexed universal life (IUL) and variable universal life (VUL). Both provide lifelong coverage and investment potential, but differ in how funds are managed and how much risk you take on.

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    Indexed Universal Life Insurance (IUL)

    Indexed universal life insurance ties your policy’s cash value growth to a market index, like the S&P 500, rather than individual stocks. This allows for moderate growth while protecting you from market losses through built-in floors and caps.

    IUL policies are often chosen by conservative investors who want some exposure to the market without taking on full investment risk. Returns are limited by performance caps but won’t drop below the guaranteed floor, making this a safer option than directly investing in the market.

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    Variable Universal Life Insurance (VUL)

    Variable universal life insurance gives you full control over how your cash value is invested. You can allocate funds across individual stocks, bonds, or mutual funds, with no caps or floors limiting growth or losses.

    VUL offers higher growth potential but also comes with higher risk. When your investments underperform, your policy’s cash value and its ability to cover premiums can decline. VULs are best suited for policyholders who are comfortable with market volatility and long-term investing.

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INDEXED VS. VARIABLE LIFE INSURANCE: WHAT’S THE DIFFERENCE?

IUL policies link your cash value growth to a market index, including caps and floors, limiting gains and losses. VUL policies, on the other hand, invest directly in stocks, bonds or mutual funds, offering more growth potential but exposing you to greater risk. Only VULs give you full investment control, and in some cases, shareholder voting rights when your policy holds company stock.

What Makes Universal Life Insurance Different?

The main difference between universal life insurance and whole life insurance lies in flexibility and risk. Whole life insurance offers guaranteed premiums and a fixed death benefit. Universal life insurance lets you adjust premiums and death benefits and invests a portion of your payments for potential growth.

Unlike whole life insurance, universal life (UL) policies don't guarantee returns. Your cash value grows tax-deferred but is tied to market performance. Losses can reduce the fund below the required premium, putting your policy at risk. Universal life insurance works best for those who are investment-savvy and comfortable managing long-term financial decisions.

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DO UNIVERSAL LIFE POLICIES HAVE EXTRA FEES?

Yes. In addition to your premium, both indexed and variable universal life policies charge monthly asset management fees. These fees are deducted from your policy's cash value to cover the cost of managing your investments. When your policy's value drops too low, you may need to pay the fees out of pocket to keep coverage active.

Who is Universal Life Insurance Best For?

Universal life insurance isn’t right for everyone, but it can be a good fit when you meet the following criteria:

  • You have a long investment timeline. UL policies take decades to build value due to gradual market growth and ongoing management fees.
  • You're comfortable with investment risk. IULs and VULs are tied to market performance. Returns aren't guaranteed, and your policy’s value can drop in a downturn.
  • You want flexible premiums and benefits. UL lets you adjust payments and death benefits over time, but you’ll need to actively manage your policy to keep it funded.
  • You’re financially stable. Since poor market performance can reduce your cash value below the premium minimum, you’ll need other resources to keep the policy active.
  • You already have basic coverage. UL works best as a secondary policy or wealth-building tool, not as your sole source of life insurance protection.
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UNIVERSAL LIFE NO-LAPSE GUARANTEE OPTION

Some universal life policies include a no-lapse guarantee, while others offer it as an optional rider for an added cost. This feature ensures your coverage stays in force even if your cash value falls to zero, as long as you pay the required minimum premiums. Without the guarantee, flexible premium payments involve more risk. The policy may lapse if contributions fall short and the cash value can't cover insurance charges.

Policy lapse risk varies by insurer and policy design. Consult your policy documents for specific lapse provisions.

Universal Life Insurance Policies: FAQ

We answer common questions about universal life insurance policies.

What is an index?

How many different types of indexes are there to choose from for IUL plans?

Where do my premium investments go in an indexed universal life insurance policy?

What are index floors and caps?

What are some of the downsides of indexed universal life insurance?

Who is indexed universal life insurance not suitable for?

Who is variable universal life insurance best for?

What is a no-lapse guarantee, and why is it especially important for VUL plans?

Can I pay someone else to invest my earnings in a variable universal life insurance plan?

Can I adjust death benefits or premiums in a variable universal life insurance plan?

4. Life Insurance Without a Medical Exam

Most life insurance policies require a detailed underwriting process to assess your risk, often including a medical exam. Insurers consider your age, health, lifestyle and even your hobbies to determine eligibility and pricing. The more detailed and accurate your health information, the more likely you are to qualify for lower premiums.

If you have medical conditions or prefer to skip the exam, some life insurance options offer faster, more accessible coverage, though often at higher cost and with lower benefit limits.

Types of No-Exam Life Insurance

Here are the main types of life insurance that don’t require a medical exam.

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    Group Life Insurance

    Group life insurance is offered through employers or organizations and covers a pool of people with a standard set of benefits. The employer often subsidizes premiums, and coverage is usually more affordable than individual whole life insurance.

    But group life coverage has limitations. You can’t customize your policy, and everyone receives the same benefits regardless of individual needs. Coverage usually ends when you leave the employer, and though exams aren't required, some group policies still deny applicants with terminal illnesses, hazardous jobs or risky lifestyles.

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    Simplified and Guaranteed Issue Whole Life Insurance

    For individual coverage with minimal hassle, simplified issue and guaranteed acceptance policies avoid medical exams. Instead, insurers ask a few health questions and verify your answers using third-party sources. These policies are often used for final expense planning.

    • Simplified issue policies offer higher coverage limits (typically up to $250,000) and lower premiums than guaranteed acceptance, but you must be in reasonably good health to qualify.
    • Guaranteed acceptance policies require no medical questions at all, making them accessible to nearly anyone. However, they come with higher premiums, limited coverage (usually capped at $25,000 to $50,000) and a waiting period. If the insured dies within two years, beneficiaries receive only the premiums paid plus interest.

Is Guaranteed Issue Life Insurance Truly A “No Questions Asked” Policy?

Guaranteed issue life insurance skips medical exams and accepts almost everyone, but it comes with trade-offs. Premiums are high, coverage is limited (often capped at $25,000) and most policies include a two-year waiting period. If you pass away during that time, your beneficiaries receive only the premiums paid plus interest.

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TYPES OF LIFE INSURANCE UNDERWRITING

Life insurance underwriting is how insurers evaluate your health and lifestyle to determine your premiums and coverage eligibility. Most life insurance policies fall into three underwriting categories.

  • Fully underwritten policies require detailed health questionnaires, medical exams and sometimes medical records review, but offer the best rates for healthy applicants.
  • Simplified issue policies skip the medical exam but still require health questions, providing faster approval with slightly higher premiums.
  • Guaranteed issue policies accept all applicants without health questions or exams, but come with higher costs, lower coverage limits and waiting periods before full benefits kick in.

5. Other Types of Life Insurance

Beyond term, whole and universal policies, other life insurance products are designed for specific needs, from covering end-of-life expenses to protecting couples or providing accident-only coverage.

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    Final Expense Life Insurance

    Final expense life insurance is a permanent policy that covers funeral, burial and related end-of-life costs. Coverage amounts are low, often between $5,000 and $25,000, but premiums are typically affordable, and acceptance rates are high, even for older adults or those with health issues.

    This policy is best for people whose loved ones don’t need large financial support but would benefit from help covering final expenses. If appropriately structured, term and whole life insurance policies can also serve this role.

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    Accidental Death and Dismemberment (AD&D)

    Accidental death and dismemberment (AD&D) insurance pays a benefit if the insured dies or suffers serious injury, such as loss of sight, hearing, speech or a limb, due to an accident. It’s inexpensive and offered as a standalone policy or as a rider on traditional life insurance. But it doesn’t cover illness-related deaths and is generally considered supplemental protection.

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    Joint Life Insurance

    Joint life insurance covers two people, often spouses, under one policy. It pays out either after the first death (first-to-die) or after both policyholders pass away (last-to-die): 

    • First-to-die pays when the first insured person dies, helping the surviving spouse or dependents maintain financial stability.
    • Last-to-die pays only after both policyholders pass away. It’s often used for estate planning, covering estate taxes or passing wealth to heirs.

    This type of policy can be more affordable than buying two separate plans, but may offer less flexibility if the couple separates or has differing coverage needs.

How to Choose the Best Type of Life Insurance

Choosing a life insurance policy requires careful consideration. Find coverage that aligns with your financial goals and provides security for your loved ones.

Step 1: Assess Your Needs

Evaluate your financial situation and identify your dependents' needs. Consider your income, debts, living expenses and future financial obligations. Try using our life insurance calculator to quickly determine your coverage needs.

INCOME-BASED GUIDANCE

Your income level often determines which policy types provide the best value and fit your financial priorities. Use these recommendations as a starting point.

  • High earners ($100,000+): Consider permanent policies for estate planning and tax advantages alongside term coverage for income replacement
  • Middle income ($50,000 to 100,000): Term life insurance often provides the best value for income replacement, with whole life as supplemental coverage
  • Lower income (under $50,000): Focus on affordable term coverage for essential protection; guaranteed issue policies if health is a concern

Step 2: Understand the Different Types of Policies

Research the different types of life insurance policies available. Understand the differences between term, whole, universal and other life insurance policies.

LIFE STAGE DECISION SCENARIOS

Your age and life stage influence which type of coverage makes the most financial sense.

  • Young professionals (20s to 30s): Term life insurance provides maximum coverage at the lowest cost during peak earning years
  • Growing families (30s top 40s): 20 to 30 year term policies cover children until independence; consider convertible term for future flexibility
  • Pre-retirees (50s to 60s): Permanent policies help with estate planning, and term coverage is for remaining mortgage or dependent needs
  • Retirees (65+): Final expense insurance for burial costs, and existing permanent policies are for inheritance planning

Step 3: Compare Quotes

Prices can vary from one company to another for the same coverage, so get quotes from multiple insurance companies. Use online tools or work with an insurance broker to compare rates.

FAMILY SITUATION DECISION FRAMEWORK

Your family structure determines both how much coverage you need and which policy types best protect your dependents.

  • Single, no dependents: Consider smaller term policies or employer coverage; permanent insurance mainly for final expenses
  • Married, dual income: Each spouse needs coverage based on income contribution and childcare responsibilities
  • Single parent: Prioritize term coverage for 10 to 12 times annual income; consider child riders for comprehensive protection
  • Married with children: Combine term coverage for income replacement with permanent policies for education funding

Step 4: Review the Policy Details

Carefully read the policy details before making a decision. Understand the terms, conditions, exclusions and the process for filing a claim. If there's anything you don't understand, don't hesitate to ask questions.

KEY POLICY FEATURES TO COMPARE

Beyond price comparison, understanding these key features helps you identify which policy type aligns with your long-term goals.

  • Conversion options for term policies
  • Cash value growth rates for permanent policies
  • Guaranteed vs. non-guaranteed elements
  • Available riders and their costs

Step 5: Consider the Insurer's Reputation

Look at the insurer's reputation for customer service and its financial stability. Check online reviews and ratings from independent agencies like AM Best and Standard & Poor's.

BEST COMPANIES BY LIFE INSURANCE TYPE

MoneyGeek analyzed dozens of insurers across coverage types, pricing, financial strength and customer service to help you find the best combination of coverage, service and value.

Step 6: Regularly Review and Update Your Policy

Review your purchased policy regularly and update it as needed. Major life events can affect your coverage needs.

WHEN TO REASSESS YOUR COVERAGE TYPE

These major life changes often signal it's time to reconsider not just your coverage amount, but also your policy type.

  • Job changes affecting income or benefits
  • Marriage or divorce
  • Birth or adoption of children
  • Home purchase or major debt changes
  • Health improvements that might qualify you for better rates

Types of Life Insurance Riders and Add-ons

Life insurance riders are optional add-on benefits that customize your policy to meet specific needs beyond basic death benefit protection. Riders enhance your policy's value by addressing gaps that standard life insurance doesn't cover, making them worth considering during the application process.

The most common riders provide financial protection for various life scenarios. 

  • An accidental death and dismemberment (AD&D) rider pays additional benefits if death results from an accident.
  • A waiver of premium rider continues your coverage if you become disabled and can't work.
  • A critical illness rider provides a lump sum payment if you're diagnosed with conditions like cancer or heart disease, helping cover medical expenses and lost income.
  • Child term riders offer temporary coverage for your children.
  • Accelerated death benefit riders allow you to access part of your death benefit if you're terminally ill.

Not every rider makes sense for every policyholder. Adding multiple riders can increase your premiums. Consider riders that address your specific concerns.

Types of Life Insurance Premiums

Your premium is the amount you pay to keep your life insurance policy active. The structure of these payments can vary depending on the policy type, your age, health and financial goals. Understanding how different premium models work can help you choose a policy that fits your budget over time.

Level Premiums
Level premiums stay the same throughout the policy term, making them easy to budget for. This structure is common in term life insurance and some whole life policies.
Flexible Premiums
Available in universal life insurance, flexible premiums let you adjust payment amounts and timing within set limits. This can be helpful if your income fluctuates or you want to increase contributions over time.
Single Premiums

A single premium policy is funded with one lump-sum payment. It provides immediate, fully paid-up coverage and is best for buyers with significant cash on hand who want to avoid ongoing payments.

Modified Premiums
With modified premiums, payments start lower for the first few years, then increase. This structure suits buyers expecting higher future income but requires planning for the later cost jump.
Renewable Premiums

Some term life policies offer renewable premiums, allowing you to renew coverage without a medical exam. However, rates rise with age at each renewal.

Life insurance premiums vary based on policy type, your age, health status and coverage amount. Compare costs when choosing between term, whole, universal and other policy options.

MoneyGeek's life insurance calculator provides personalized cost estimates to help you compare monthly premiums. Our tool factors in your specific demographics and health profile to show realistic pricing from top-rated insurers, making it easier to balance affordability with adequate coverage.

Life Insurance Types: Bottom Line

The main types of life insurance range from term and whole life to universal, no-exam and niche policies like AD&D and joint coverage, each serving different purposes based on your age, financial goals, health status and coverage needs.

Term life insurance provides affordable, temporary protection. Whole or universal life insurance offers lifelong coverage with added financial value. No-medical-exam policies provide simplified coverage at higher costs. Compare rates, review your coverage needs and consider how much flexibility you'll want as your life changes.

Different Types of Life Insurance: FAQ

We answer common questions about life insurance types.

What are the different types of life insurance?

How many types of life insurance are there?

What is the cheapest type of life insurance?

What kind of life insurance do I need?

What are the different types of permanent life insurance?

What are the different types of no-exam life insurance policies?

How do I compare different life insurance policy types?

Which type of life insurance will a business typically use?

Life Insurance Policy Types and Rates: Our Review Methodology

Choosing between the different types of life insurance can be challenging since each works differently. To give you a clear comparison, we discussed what each type is and how it works. We also analyzed 248,399 life insurance quotes to calculate average rates across these three major policy types: term, whole and universal.

Our standard quote profile:

  • 40-year-old male
  • Nonsmoker
  • 5’9”, 160 pounds
  • Average health rating

To reflect different buyer needs, we adjusted this profile by age, gender, health status, tobacco use and location. We gathered quotes across multiple term lengths (including permanent) and coverage amounts. Data came from 16 major insurers and includes their most common term, whole and universal life policies.

Coverage costs and company data were last updated in 2025.

By analyzing pricing trends, product structures, and policy features across all quote data, we identified patterns that show not only what you might pay, but also how each type of life insurance delivers value. This approach helps you compare policies based on your priorities, whether that’s affordability, long-term guarantees or flexible coverage.

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About Mark Fitzpatrick

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Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.

Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!

He writes about economics and insurance, breaking down complex topics so people know what they're buying.

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