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Use our multi-award winning Risk Reality Calculator to help with your protection conversations.

Risk Reality Calculator

How to use

The LV= Risk Reality Calculator quantifies your client's risks based on four personal details and the results really help to bring reality home. Appreciating none of us know what lies ahead, we want to encourage more people to put a financial back-up plan in place now - as it could make all the difference to that person's (and their loved ones) future financial security.

Using the LV= Risk Reality Calculator is as simple as ABC; simply:

Enter your client's name, age, sex, smoker status and retirement date.

Entry fields showing client name, age, gender, smoker status and retirement age

Then, the LV= Risk Reality Calculator generates a personalised risk report for your client.

Personalised information showing the client risk of death before retirement age

Once you’ve hit the ‘calculate’ button, the results will show the likelihood of your client:

  1. being unable to work for two months or more
  2. suffering a serious illness
  3. dying
  4. the probability of any of these happening before a chosen retirement age
Woman with a thought bubble

In case you’re wondering how the results are calculated

The LV= Risk Reality Calculator gives a guide of something happening to your client up to a certain age. It doesn’t reflect the chances of something happening at any given point in time. It’s generally accepted the older your client gets, the higher the chance of something happening to them which would stop them from being able to work.

The statistics used by the calculator are based on a large number of people and give a reasonable guide to the average likelihood of one of the described events happening. However, we also recognise that everyone is unique, so the results should be used as a rough guide and preferably talked through with a qualified financial adviser.

The results give the probability of any one of the three described events happening between your clients current age and their planned retirement age which they’ve selected on the calculator (between ages 55 - 70). The later they retire, the higher the chance of something happening, and this will be reflected in their personalised risk report.

The results are given separately for each person, as well as a combination if two people are included. For the combined results for two people, the probabilities for each person are based on different periods of time, depending on their current age and the retirement age they’ve selected on the calculator. It’s assumed that the chances of something happening to each life are not linked (the lives are independent).

What else is available to help support your protection conversations?

LV= Income Shortfall Calculator

Use the LV= income shortfall calculator to compare your client’s current level of income compared to what they’d be entitled to from the state if they couldn’t work because of an accident or illness. You can use this tool to demonstrate monthly and annual shortfalls – and print a report.

Visit the LV= Income Shortfall calculator

LV= Budget Planner

This is an easy way to add up all your clients’ monthly bills and treats, and very quickly it highlights just how much their current lifestyle costs. Then compare this to the support that may be available from the state if they were unable to work because they were ill. What would they need to give up?

Read our Budget Planner Guide or use the Interactive Budget Planner to support your protection conversations.

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Adviser support team: 0800 028 5610

9am - 4.30pm Monday to Friday

We will record and/or monitor calls for training and audit purposes

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Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237. County Gates, Bournemouth, BH1 2NF, UK