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Business Protection Cover summary

The tables below compares the features and limits of each of our Business Protection options so you can see which might be best for your client.

Details

Life Insurance

Life Insurance with Critical Illness

Relevant Life Cover

Type of benefit payment

Lump sum

Lump sum/s including our additional payment claims

Lump sum

Type of cover

  • Level
  • Inflation-linked
  • Decreasing
  • Level
  • Inflation-linked
  • Decreasing
  • Level
  • Inflation-linked

Own life

Yes

Yes

N/A

Life of another

Yes

Yes

Yes

Term

5 years – 45 years

5 years – 40 years

5 years – 45 years

Minimum entry age
(level/decreasing/index-linked)

17

17

17
Decreasing is not available

Maximum age at entry
(level/decreasing)

79

64

69
Decreasing is not available

Maximum age at entry
(index-linked)

59

59

59

Maximum age at policy end date
(level/decreasing)

85

69

74

Maximum age at policy end date
(index-linked)

69

69

69

Premium type

Guaranteed

Reviewable or guaranteed

Guaranteed

Maximum cover

£20 million

£3 million, but TPD moves to works tasks over £2 million

£20 million

Eligibility criteria

UK resident

UK resident

UK resident

Trust Assignment

Yes

Yes

Discretionary Trust

Number of Critical Illnesses covered:

  • additional payments
  • enhanced claims payment

N/A

64 (total)

  • 20
  • 16

N/A

Benefit

Life Insurance

Life Insurance with Critical Illness

Relevant Life Cover

Total permanent disability

No

Yes

No

Waiver of premium

Yes

Yes

No

Benefit

Life Insurance

Life Insurance with Critical Illness

Relevant Life Cover

Terminal illness cover

Yes

Yes

Yes

Children’s cover* (at no extra cost) – 50% of cover or max £25,000

No

Yes

No

LV= multi-product discount

No **

Yes

No **

Guaranteed increase options

Yes

Yes

Yes

LV= Business Care

Yes

Yes

Yes

* Children’s cover applies to the family of the life insured and not the plan owner.

** Unless another protection or retirement product is already held.


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Business Protection options

Find out more about the type of businesses we cover and the policies available.

More on Business Protection options

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Tools and calculators

See all our business protection calculators available to simplify your client conversations.

View all tools and calculators

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Business Protection support

Our team will make sure that all your Business Protection applications are dealt with quickly and efficiently.

More on Business Protection support

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Why choose LV=

Your clients can access a range of resources and expert advice, as well as a number of value added services.

More on why to choose LV=

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FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK