Common Types of Life Insurance Policies
Overview
Life insurance splits broadly into term policies, which cover a set period, and permanent policies, which are designed to last a lifetime and often build cash value along the way. From there, the differences get more specific.
Whole life, indexed universal life, and variable universal life each handle cash value growth, investment risk, and flexibility differently, which makes the right choice more about your goals than about which policy is objectively better.
What this checklist covers
- 1Term life
- 2Whole life
- 3Indexed and variable universal life
Common questions

Review your coverage against the full checklist
Everything worth confirming before you buy, renew, or replace a policy.
PDF · 181 KB · No email required
Related Resources
Keep exploring insurance & risk
Articles, printable guides, and short videos on this topic. See the full Insurance & Risk hub.
Watch
Download
- Annual Benefits Review ChecklistInsurance & Risk Management
- Medicare Open EnrollmentInsurance & Risk Management
- Common Types of Annuity ProductsAnnuities
Read
- What Does Narrow Market Performance Mean for Investors?October 14, 2026
- Financial MythBusters: Social Media Money Myths, Episode 1October 8, 2026
- Celebrating Meridian Financial Partners’ 11th AnniversarySeptember 30, 2026
Sourced from a licensed fpPathfinder reference guide. Page copy is original summary content.



