Which is the best insurance company for life insurance, if I am 21 years old?

Hi. Unfortunately it is not quite that easy to answer. Insurance companies take a lot of information into account when assessing their insurance premiums. Things such as your sex, whether you have smoked in the last 12 months, how much cover you require and what state of health you are in.

Assuming your health is okay, then you can get an idea of the cheapest premiums on our website - http://pks.org.uk/lifeprotection.asp - or alternatively please feel free to call us on 0845 226 5009, and we can give you a no obligation quote over the phone.

This is a very difficult question as it depends not just on your age but also your health, sex, smoker status and occupation. Also some providers will offer short term cover for such things as a trip abroad or longer term to cover a mortgage perhaps. Even - in unusual circumstances for somone your age - cover can be taken out right through until you die (known as whole of life assurance).

i'm afriad that done correctly life insurance or assurance (assurance if it is whole of life and assured it will therefroe eventually pay out) can be quite involved. Choices include whether you want a constant lump sum of life cover, budget cover which reduces as perhaps a mortgage loan reduces or often even cheaper cover which pays a monthly sum rather than a lump sum at any time (This can be the best value life cover as each month that you live saves the insuruer a months potential payout!).

Then there is serious/critical illness cover to perhaps build in to a life cover plan givne that you are far more liekly to suffer a serious illness or accident during your working lifetime than you are to die! Indeed you might consider that life cover is relatively cheap - especially at age 21 - this is because the risk of death is rlatively low and charged accordingly. Meanwhile the greater risk of a serious illness/accident costs more to protect against because the frequency is much greaeter during our working lives - which risk would you rather insure - an unlikely one or a more likely one?

Fianlly i will mention whether or not the whole thing should be wrapped into a trust. Whislt i may be a professional IFA and might be expected to say so i therefore strongly believe that even life cover should be taken out with advice. The good news here however is that the advisers cost is very likely to be built into the life insurance premiums and therefore it is typically not any more costly to take good advice than to try and do it yourself. Hope this helps.