50 Plus plan - Frequently Asked Questions

What does the plan do?
What cover is provided?
Can I be turned down due to my health?
How much will it pay out?
What if I change my mind after I apply?
Will anyone call on me if I apply?
How can I apply for the 50 Plus Plan?

It offers guaranteed life insurance for UK residents (excluding Isle of Man and Channel Islands) aged 50 to 80 at the start of the policy. You pay a monthly amount and after the first year it guarantees to pay a cash lump sum when you die, providing you keep up your premiums. There is no cash in value at any time.

In the first year the plan will only pay out the full level of cover if you die as a result of an accident subject to the conditions outlined in the section "Policy Limitations" in the Policy Summary. Death must occur within 90 days of the accident. If it is not an accident or death occurs later than 90 days then all premiums paid will be returned, without interest. After the first year the full level of cover will be paid whatever the cause of death.

No. We don't ask any health questions and there is no medical. So the plan offers an easy, convenient way to secure guaranteed life cover.

It depends on your age, your sex and the level of the premium you select. When your plan begins your cover will stay fixed, so you know how much will be paid out right from the start. When you are choosing how much cover you need, remember that inflation means that the cost of goods and services, such as funerals, will rise over time but your cash lump sum is fixed and so will stay the same.
Depending on how long you live, the total amount of premiums may amount to more than the cash sum payable on death. Payment from this plan will normally go to your estate which may be subject to Inheritance Tax.

When you receive your plan documents you will also receive a notice reminding you of your legal right to change your mind. You have the right to cancel your plan within 30 days of receiving the notice. You can do this by completing and returning the cancellation form to us at Liverpool Victoria Life Company Limited, Pynes Hill House, Rydon Lane, Exeter, EX2 5SP.

If you send us your cancellation form within 30 days of receiving it, we will refund any premiums you have paid. You can cancel your plan anytime after this but there will be no return of premiums paid. There is no cash in value for this plan.

You can get a quote and buy the 50 Plus Plan online or by downloading the application pack and sending it to:

Liverpool Victoria Life Company Limited
Pynes Hill House
Rydon Lane
Exeter
EX2 5SP