Skip to page content

Life Insurance

The lifestyle of your loved ones may be seriously compromised if you die. Help ensure their peace of mind with
LV= Life Insurance.

Get a life insurance quote
Life insurance from £5 per month

Life insurance - The basic facts

  • Pays a lump sum if you die during the term of the plan. It's not a savings plan and you don't get anything back if you cancel. 
  • Choose the amount of cover or monthly amount you wish to spend starting from £5 a month.
  • Choose the length of time you'd like the plan to last. After the insurance starts the premium and length of time is fixed.
  • Option of choosing level or decreasing cover 
    (decreasing cover reduces the amount paid over time, level is fixed and won't keep up with inflation).
  • Cover of up to £500,000 (£300,000 if you're 56-65, or £200,000 if you're 66 to 69 when you apply).

The information on this page shouldn't be taken as advice. It's up to you to decide if it's right for you and you should speak to a Financial Adviser if you're not sure.

Phone 0800 587 3057 0800 756 8052 Quoting offer code IELO

Our lines are open Monday to Thursday 9am - 8pm. Or Fridays 9am - 5 pm. We offer advice on LV= products only. We may record and / or monitor calls for training and audit purposes. For textphone dial 18001 first

life insurance quote

Additional policy benefits

  • If you're diagnosed with a terminal illness during the plan term you can ask us to pay out your cover early.
  • The terminal illness payment is 3% less than the original cover amount and your insurance plan will end after this payment.
  • You can take out additional policies to increase the total amount of cover.
  • The amount of cover available will be personalised to your individual circumstances such as your age and sex, and whether you smoke or not.

Important policy information

  • Level cover has a fixed amount of cover it doesn't change. It won't keep up with inflation and will buy less in the future.
  • You can't claim under a terminal illness in the last 12 months of the plan. 
  • After your plan has been issued, you can't change it.
  • If you die, we'll normally pay the lump sum to your estate. Inheritance tax could apply to the part that's worth over £325,000 (tax years 2010/2011 to 2014/2015).
  • If you stop paying your premiums, your cover may end.

How to buy LV= life insurance

All we ask is that you permanently live in the UK (not on a temporary work or study visa), you're aged 17 to 69 when your plan starts and your premium is at least £5 a month.

1. Please make sure you read the details about our life insurance product and the policy summary.

2. Decide how much cover you need or the amount each month you feel you can afford.

3. Decide the length of time you need the cover for.

4. Get a quote and if you're happy the cover meets your needs complete our online application.

If you're unsure about whether this product is suitable for you or you would like advice about our products please phone 0800 756 8052

Get a life insurance quoteGet a quote in seconds with full cover available in under 25 minutes.

Why choose LV=

At LV= it's our mission to treat people like family. As a friendly society our customers have a direct say in the way we run our business and as a result they're at the heart of any decisions.

  • 99% of claims paid in 2010. 
  • Simple online application means you could be covered online instantly in less than 25 minutes.
  • 85% of customers are covered online instantly with the majority of the others needing to answer only a few additional questions.
  • Easy claims process with a video providing guidance.

Is our life insurance right for you?

Life insurance from LV= is designed to give you peace of mind that your loved ones will benefit from a cash lump sum if you die. This could be used to help pay off your mortgage or if you have children, it could help pay for child care or provide financial support for their education. If you're not sure if you should take out life insurance we've provided a list of popular reasons. We can also provide financial advice by calling 0800 587 3057, Monday to Thursday 9am - 8pm. Or Fridays 9am - 5 pm. We offer advice on LV= products only. We may record and / or monitor calls for training and audit purposes. 

It can be difficult thinking about the right time to take out life insurance and you could face confusion over the right amount of cover to take out and the best insurance company to choose. It's also not a subject some people feel comfortable discussing, so we've provided some helpful tips for taking out life insurance to help make it as easy as possible. Also to help you choose the right life cover for your needs we've created a life insurance product comparison table to provide a quick comparison of the different products we offer.  

Some employers provide death in service cover as part of their benefits package. This can sometimes be confusing as some people assume this will provide adequate life insurance. It's worth checking what level of life insurance cover this provides and when it will pay out, as life cover can differ widely depending on the provider and product. For more information on death in service benefit, view our 'What will your employer provide?' article.

Will my health and lifestyle affect my insurance?

To give you a personalised life insurance quote we'll use your age, gender and whether you smoke to provide an estimate of how much cover you can take out. We can provide a life insurance quote based on the amount of cover you require or the monthly premium you can afford. This will give you an idea of the cost for the level of protection you'd like.

If you're happy with your life insurance quote, you can complete a full life insurance application online. To provide a life insurance policy we'll need some more details about your lifestyle and medical history to make sure we charge you the right amount for your cover. If you're interested in more information please read our 'How health and lifestyle can affect your premiums' which covers the different factors used to calculate your premiums.

Life insurance is different to many other types of insurance  as there's not much you can do to change the factors used to calculate your premiums. However, if you follow a healthy lifestyle and don't smoke you'll pay less for the same amount of life cover then someone who's unhealthy and smokes. So, if you're thinking of giving up smoking you could benefit from cheaper life insurance as a result.

Life insurance single or joint cover?

Life insurance can seem like an easy product to understand. It's designed to pay out a lump sum if you die during the term of the policy. However, when you complete an application there are some questions that might be a bit confusing. For example you'll be given the choice of a single or a joint policy. If you're in a relationship life insurance is often a good idea to provide for your partner and loved ones. But, should you have two single life insurance policies or a joint policy? To help you answer the question we've written an article on 'Single versus joint life cover' to provide more information of the benefits of the two types of cover.  


Get a life insurance quote

If you'd like to know more about our life insurance cover, use our Frequently Asked Questions database where we provide more information about our life insurance policy and life cover in general.

Not sure about which life insurance to buy? See our life insurance comparison table.

Skip top of page or to page menu
Feedback Form