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Catch up with the latest press releases from LV=

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LV= Partners with Assureweb

Press release: 29/01/2009

Leading annuity provider LV= has announced it has entered into a partnership with Assureweb (1) to launch a new annuity quotation service.

Through the Assureweb portal, financial advisers will now be able to obtain ‘real-time' fully guaranteed personalised annuity quotations 24 hours a day, seven days a week. This improved system also allows a range of benefit and commission options for advisers, including offering annuitants value protection, which provides a return of unused capital to the annuitant's estate, should they die before the age of 75.

The Assureweb platform is an easy and up-to-date approach, which makes the application process simpler for both financial advisers and their clients. Furthermore, this updated quotation service will enable advisers to quickly gain access to enhanced rates, ideal for customers who have a combination of milder conditions, such as high blood pressure and high cholesterol for example, as well as those who suffer from more serious medical conditions. This allows customers to potentially obtain an increased income in retirement.

Matt Trott, Head of Annuities at LV= comments: "The current economic downturn, coupled with falling interest rates, is increasing the pressure on people approaching retirement, as well as their financial advisers, to find the most appropriate solution for their pension savings. An enhanced annuity can often pay a higher income than a standard rate annuity, enabling clients to maximise their income in retirement (2)."

"The new quotation system from Assureweb will allow advisers to investigate whether a client can qualify for enhanced rates more quickly than ever before, potentially unlocking thousands of pounds' worth of retirement income."

LV= estimates that currently across the UK around 150,000 people each year could be missing out on extra income by not purchasing an enhanced annuity, despite qualifying for enhanced rates (3).

With-profits annuities

Matt Trott continues: "Also, as some commentators have predicted that conventional annuity rates will fall over the coming months, with-profits annuities – both standard and enhanced – could become a strong alternative in the current market, offering clients with the chance of both potential future growth, and a level of protection against falling equity markets."

LV= offers one of the widest ranges of conventional enhanced and With Profits annuities available in the market place. For more information about the annuity products available from LV= visit

  1. Assureweb was launched in 1998 to help intermediaries improve their service, efficiency and profitability by doing business online. Assureweb is the award winning financial services portal, a leading supplier of services to financial intermediaries in the UK.

  2. Annual income of £4,415 with LV= enhanced annuity, versus £3,648, source: FSA comparison tables as at 20/01/09; LV= quotation as at 21/01/09. NB: Starting annuities assuming a single life based on a lump sum of £50,000, annuity payable monthly in advance with no guarantee period for a 65-year-old man who smokes 10 cigarettes a day, who is receiving treatment for High Blood Pressure and High Cholesterol.

  3. 331,547 people purchased a conventional annuity during January – September 2008 (Source: ABI, 2008). Based on LV= assumption that 40% of people purchasing an annuity could qualify for enhanced terms, 132,619 people could have benefited from an enhanced annuity, over a nine month period in 2008. The actual number of people who purchased an enhanced annuity during this time was 23,042 (Source: ABI, 2008), indicating that 109,577 people could have missed out on income in retirement by not purchasing an enhanced annuity. The full year equivalent figure is 146,103.

About LV=

  • LV= is a registered trade mark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies. The new LV= brand identity was launched in March 2007.

  • LV= employs over 3,500 people, serves more than 2.5 million customers and members, and manages around £8 billion on their behalf. We are also the UK's largest friendly society (Association of Friendly Societies Key Statistics 2008. Total net assets) and a leading mutual financial services provider.

  • Liverpool Victoria Friendly Society Limited is authorised and regulated by the Financial Services Authority and entered on the Financial Services Authority Register No. 110035. LVFS is a member of the ABI, AMI, AFS and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.