The souls of the wicked on the other hand are cast into hell where they are in torment and utter darkness and await the judgment of the great day (Luke 16:23; 2 Peter 2:9 ). The word “hell” in this context is not really accurate as Hell describes the place of torment after the resurrection, where the wicked are cast in body and soul. What would be more accurate here is to say that the souls of the wicked are cast into Hades as the rich man was (Luke 16:23). The wicked are reserved for a greater judgment in both body and soul on that great day in Hell, which is the second death.
Finally, aside from Heaven and Hell, Scripture knows of no other place. Therefore, Purgatory does not exist and is unbiblical.
The body returns to the dust from whence it came, but the souls are immortal from the time they begin to exist; they cannot just disappear and go out of existence. They will exist without body in Heaven or Hades until Christ comes to end the world and bring in the New Heavens and New Earth. The elect then will receive a glorious body like that of Jesus and enjoy endless fellowship with the God Triune, while the reprobates will receive physical bodies just to be tormented in the lake of fire.
The Intermediate State describes the time between death and the resurrection of the body, this includes a discussion of the immortality of the soul, Heaven and Hades.
The Immortality Of The Soul
While people are buried and their bodies return to the dust from whence they came, their souls do not cease to exist, they are immortal. While the body decomposes and returns to dust, the soul of man lives evermore. It is important to define the usage of the word “immortal” and “immortality” here. This immortality which the souls of men and angels possess is obviously not like the essential immortality of God. In 1 Timothy 6:16 we read that God “alone has immortality”. This speaks about God essentially and by nature having immortality. He ever was and ever will be immortal, i.e., undying. Albert Barnes noted on that passage that God has immortality “by his very nature, and it is in his case underived, and he cannot be deprived of it. It is one of the essential attributes of his being, that he will always exist, and that death cannot reach him”. But this word is often used in reference to men and angels, so what does it mean? It means that the souls of men and angels are undying from the moment that they come to exist. It means that the soul of man does not simply decompose or disappear after death, like the physical body does. Rather, the soul is unable to die, because God designed it to be so. There is no “must-ness” that the souls of man or of angels be immortal except that God had willed them to be so. It is not essential, as it is in the case of God, that our souls be immortal...