In summary: Term life is usually the go-to for most people needing straightforward, affordable protection for a specific phase of life (e.g., while kids are young or debts are high).

Whole life suits those prioritizing rock-solid guarantees, predictability, and a savings element that grows reliably (often used for legacy/estate purposes).

Universal life appeals to people who want permanent coverage with more control over payments and the potential for cash value adjustments, though it carries greater variability and requires more management.

Many financial experts recommend "buy term and invest the difference" for the bulk of coverage needs, while using permanent policies (whole or universal) only when lifelong coverage or cash value features are specifically desired. Consult a licensed insurance professional for personalized quotes and advice based on your situation.