Let's talk about Brexit and your policies...
The UK officially left the EU on 31 January 2020 and entered into a transitional period. This ended with a deal agreed at the end of 2020.
Whether you live here in the UK or in an EU country, here’s a quick update when it comes to certain LV= policies:
If you have a protection, savings or retirement policy or an equity release loan and live permanently in the UK...
We don’t believe your policy or the service you receive from us will be impacted by Brexit.
If you have an investment with LV= it’s always important to remember that risks are involved in any investment, and values can go up as well as down. Political uncertainty can lead to market volatility and these things can affect the way investments perform.
Speak to your financial adviser if you want to discuss any concerns.
If you have a protection, savings or a retirement policy and have moved, or plan on moving to an EU country
We're very happy to continue to look after you, and any policies you have with us, if you live or plan to live in an EU country.
Our equity release loans are only available to UK resident borrowers who are occupying their property in England, Scotland or Wales.
A small number of our 1.3million members and customers live in the European Union / European Economic Area or might be thinking about doing so.
Our policy is that if you plan to live overseas, temporarily or permanently, you should maintain a UK bank account. This is so we can exchange any money between us in Sterling. As long as this is the case, we're happy to continue to look after you and any policies you have with us.
We’re aware that some UK banks have been in touch with their customers, who live outside of the UK, about closing their accounts and credit card facilities.
If this does affect you, you'll need to use another UK bank that can continue to provide this service for you after Brexit, either by:
If you pay us by Direct Debit your bank should switch your existing Direct Debits over for you automatically, but please check with them to make sure. If we're due to send you money, for example, to pay a claim, and you're changing your bank details, please get in touch to let us know your new bank details before the account you currently use is closed.
Here are some questions that you might have about Brexit and your policy
Your LV= policy conditions and benefits haven’t changed. Any existing payment arrangements you have with us will continue as agreed.
If your bank has contacted you to let you know they’re closing your UK account, you’ll need to do one of the following:
If you pay us by Direct Debit your bank should switch your existing Direct Debits over for you automatically, but please check with them just to make sure.
If we're due to send you money, for example, to pay a claim, and you're changing your bank details, please get in touch to let us know your new bank details as soon as possible.
For queries or more information...
You can check out the Government website which provides information for people and businesses.
If you want to talk to us about your policy then please call your usual servicing line on 0800 0223 833 or +441202559767
Lines are open 8.30am to 6.30pm Monday to Friday. For TextDirect first dial: 18001.
We record and/or monitor calls for training and audit purposes.