Sheol

The Semitic equivalent of the classical concept of Hades. The word has
been derived from a number of roots. The two main probable origins seem
to be those from the Assyrian root sha'al ("to consult an oracle") and
shilu ("chamber"). The latter derivation seems somewhat more in
accordance with the synonym of pit.
Sheol was regarded as an underworld of the dead in which the shades
lived. Hebrew eschatology, although somewhat obscure in its early phase,
probably tended to perpetuate the animistic conception. The habit of
burying the family in communal tombs may also have lent some meaning to
the word. In Sheol the dead
continued to live as on earth.

According to Eth. Enoch 22 (1-14), Sheol was divided into four sections,
intended respectively for the martyrs, the righteous who were not
martyrs, sinners who had lived prosperously, and sinners who had been to
some degree punished. The situation in these sections varied from
extreme bliss in the first case to loss of all hope of the resurrection
in the fourth. The souls in the third division were to be 'slain' in the
day of judgment, but the meaning of this is unclear. Nor is it all clear
that the fourfold division was commonly held. The twofold division into
the abode of the blessed and the abode of those suffering punishment
seems to be more generally held. At the resurrection, which preceded the
judgment, it was believed, at least by those
under the influence of Pharisaism, that the righteous shades would arise
from Sheol, and, after receiving new bodies, ascend to heaven.

http://www.pantheon.org/mythica/articles/s/sheol.html