This information is especially for if you have an older policy which you probably took out before 2008.
These are the types of policies we mean:
- Conventional with-profits - whole-of-life, endowment and pension policies taken out with us before 1997
- Unitised with-profits policies (excluding 'Flexible Guarantee' policies)
- With Profits Pension Annuity
- Pension Income Plus Annuity
- Appropriate Personal Pension Plan
- Flexible Whole Life Plan
- All-in-1 Investment Bond
- Guaranteed Capital Bond
- A policy that was originally taken out with RNPFN (Royal National Pensions Fund for Nurses)
- A policy that was originally taken out with Teachers Assurance
During the first half of 2020 you’ll have noticed in the news the volatility and reductions in markets around the world as the concerns surrounding Covid-19 impacted the global economy.
Since then, financial markets have generally recovered well but it’s fair to say that some businesses have been impacted more than others, and that market volatility may continue for some time.
We completely understand that the economic impacts and the consequences seen in the markets have made some people worry about their investments, and what to do. It’s quite normal for stock markets to fall but obviously in the first half of 2020 we saw a marked difference in a short space of time.
It’s important to bear in mind that when we think of long-term investments we see them as at least ten years, and in a lot of case much longer than that. Even in extraordinary times taking a longer-term view remains a sensible perspective to take, especially as spur-of-the moment choices, like taking money out, could carry its own risks.
Some of our products also benefit from valuable guarantees, and our with-profits policies can benefit from smoothing which means that the impact of market volatility is reduced. Please check out your original product information, or your latest annual statement to see if these features apply to your policy.
Contact your financial adviser, or us, if you’re:
- concerned about how your pension or investment could be affected,
- thinking about making any changes,
- would like an up-to-date valuation of your pension or investment.
Answers to other questions you might have about your policy
Most financial advisers have set up alternative contact details so try these first.
However if you have a query about your LV= policy, please contact us and we’ll respond as soon as we can.
Please bear in mind that we will never ask you to confirm your bank account details over the phone. You should never clarify or give your bank details to anyone over the phone.
If you miss one or more payments, we’ll usually offer you a minimum grace period of 60 days to bring your premiums up-to-date (please check your policy conditions to see what grace period you have). If you can't afford to keep you policy in place you need to consider the impacts carefully before you cash it in or cancel it.
Criminals never sleep and they are sadly using Covid-19 as another opportunity to benefit.
There is a lot of support out there which you can read about and we have a Member Support Fund which might also be able to help.
Find out more about Government financial support
Find out more about Charitable support
get in touch
If you want to speak to us about your policy please email us