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Keeping you updated on our approach to paying claims and stories to demonstrate the true value of your recommendations.


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LV= Protection Pays

November 2017

Building financial resilience

Accidents and illness can strike at any time, often resulting in an 'income shock' and hard-hitting financial, practical and emotional issues. How well prepared are your clients?

In our Income Roulette report we partnered with YouGov to survey the attitudes of over 9,000 UK adults. We asked questions about their financial resilience (debt, savings and protection) and identified three higher risk groups in society - Generation Debt, Self-Employed and Middle Britain. Together they represent millions of individuals and households. You can read the full report, with our findings, conclusions and recommendations here.

In our income roulette research we found that 4 in 10 self-employed believed they were ineligible for income protection and only 4% have it. With no employer to support them, and state benefits increasingly difficult to claim and more limited, income protection can provide a valuable safety net. Here are just a few examples of how LV= has claimants who are self-employed and in higher risk occupations.

Miss C was a self-employed training assistant when she took out an LV= Income Protection policy in 1996. At the age of 45 she suffered a catastrophic stroke. The stroke destroyed her independence and Miss C lost her job and her income.

Miss C’s stroke meant she couldn’t return to work so we paid her the monthly benefit of £1,599 until her 60th birthday.

Miss C

Miss C’s claim lasted for a total of 14 years and we paid her a total of £275,000.

Her own words sum up her experience with us:

“LV= is the best insurance company in business. I would certainly urge any self-employed person to take out income protection with you. A big thank you to all of your wonderful staff.”

Income protection for the self-employed

Personal Sick Pay is our specialist income protection aimed at clients in riskier jobs who can be more expensive to insure, such as tradespeople and construction workers. If your client has a riskier occupation they could choose our ‘back to day one’ waiting period option.

We’ll pay them from the first day they stop working (but they’d need to be off work for three days in a row before they can claim). This option is a useful for clients like the self-employed who don’t get employer sick pay, or those without an adequate financial safety net.

Customer feedback

“Thank you for your assistance throughout my claim and the communication from yourself in making my claim easy and efficient to do.”

Mr H, Personal Sick Pay customer


People in riskier occupations may see their income fluctuate, our Personal Sick Pay product has a guarantee in place that will protect your client against a genuine drop in income after they’ve taken out a Personal Sick Pay policy.

Use our Risk Reality Calculator to help your clients realise the importance of financial protection.

Our Personal Sick Pay claim figures below show no one is immune to ill health and the unexpected really can happen to anyone, regardless of their age or occupation.

A bag with a £ sign onA blond man with a coin stack next to himAn elder man

Value of new claims in 2016:

Youngest customer to claim:
17 years old

Oldest customer to claim:
61 years old

To bring to life the importance of having a financial safety net in place, here are a couple of real life Personal Sick Pay claims from 2016.

Mrs V

Mrs V
Occupation: Self-employed Hairdresser
Age: 52
Cause of claim: broken arm
Length of time off work: 4 months
Amount of cover: £1,000pm

Mr B

Mr B
Occupation: Plasterer
Age: 21
Cause of Claim: Ankle injury
Length of time off work: 10 days
Amount of cover: £600pm

To find out more about Personal Sick Pay please visit or please speak to your LV= account manager.

We also offer other income protection products which can be tailored to suit the self-employed.

Mr C

Rehab case study:

Mr C – his road back to full-time work

We first shared Mr C's story in the third edition of Protection Pays. Mr C was 35 when he originally worked as a hod carrier (a physical role which involves a lot of heavy lifting). Unfortunately he injured his elbow, meaning he was unable to work and had to claim on his Personal Sick Pay policy. Our rehabilitation manager and claims team has helped support Mr C on his road back to full time work. In this edition of Protection Pays we catch up on Mr C's progress.

Unfortunately Mr C was making the bed, when his elbow 'went', causing him a lot of pain. Mr C went to his GP, who adopted a 'wait and see' approach to his condition. Understandably upset and in pain, Mr C contacted us and we're currently arranging for him to see a private physiotherapist. His dedicated LV= claims assessor and our rehabilitation manager keep in regular contact to provide him with the best support to get him back on his feet.

The road to recovery can be long and there’s bound to be setbacks along the way as proven by Mr C’s story. Mr C is a true testament that the unexpected can happen and we’ll continue to support Mr C back to his full recovery.

As mentioned in one of our previous editions of Protection Pays, our Life with Critical Illness policy offers your clients more opportunities to claim, including our double accident benefit*. If a serious accident occurs, it can have a detrimental effect on your client’s financial circumstances giving them less time to plan financially for the future. Our double accident benefit means we’ll pay out twice a client’s original amount of cover up to an additional £200,000 if the cause of their claim is an accident.

* We have ten conditions where we’ll pay your client twice the amount of their cover (up to a maximum of £200,000). This applies if the claim is as a direct result of an accident.

Customer feedback

“Thank you for all your efforts.”
Mr M

Critical Illness customer

Mr R

We recently paid out on a double accident benefit claim to a customer whose policy started in 2014. In June this year, Mr R aged 64 was unfortunately involved in a serious traffic accident and suffered multiple injuries including severing his spinal cord.

We paid Mr R £90,000 and his claim was settled within just two months of the accident happening. To find out more about ways to claim on our Critical Illness policy please visit

Protection Pays is our regular bulletin you can use with your clients to show them why protection is so important and how it helps real people. It can also help them understand what support is available if they claim.

To help support your protection conversation please Download our client facing Protection Pays newsletter November 2017

If you’d like to receive our Protection Pays newsletter, you can subscribe here:

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TextDirect: first dial 18001

8.30am - 6.30pm Monday - Friday

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LV=, County Gates, Bournemouth, BH1 2NF, UK