coronavirus - savings, investments, pensions and isa policies

Coronavirus update and your policy

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:

Older policies, mostly before 2008
  • 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

You’ll have noticed in the news the volatility and reductions in markets around the world as the concerns surrounding Covid-19 continue to impact the global economy.

No-one can be sure but as we watch the restrictions on daily life and businesses, it’s fair to say that market volatility will continue for some time. 

We completely understand that the economic impacts and the consequences seen in the markets leave some people worried about their investments, and what to do. It’s quite normal for stock markets to fall but obviously we’ve seen 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 these 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:

Answers to other questions you might have about your policy

I can’t contact my financial adviser as they're in self isolation. What should I do?

Most financial advisers have set up alternative contact details so try these first.

However if you have a query about your LV= policy application, please contact us and we’ll  respond as soon as we can.

I have a policy that I originally took out with Permanent Insurance, Teachers Assurance or the Royal National Pension Fund for Nurses. Who should I contact?
LV= acquired these policies some time ago and we now look after them. We can help with any questions so please contact us.
I want to cash-in my policy what do I do?
Of course, we understand that you might want to do this. You can contact us, but first you shouldn't make any hasty decisions in case they impact the value of your savings. You should speak to a financial adviser before doing anything.  
I’ve got a policy with LV= but can’t find the policy documents
Please contact us by email or phone and we can send out new documents to you.
I’ve just had a call from LV=. How do I know it’s genuine?
Sometimes we’ll call our customers to resolve a query. However it is right to be wary of calls that might be bogus. The best thing to do is take the caller’s name, hang up and ring back using our  switchboard number which is 0800 678 1680.  If the call has come from one our team here at LV= the switchboard operator will be able to transfer your call over to them. 

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.
Will I still get payments from LV=?
If we’re already paying you regular amounts from your policy these will continue as normal.
Can I cancel or postpone premiums for my policy?
Of course, we understand that you might want to do this. You can contact us, but first you shouldn't make any hasty decisions in case they impact the value of your policy. You should speak to a financial adviser before doing anything.
I can’t afford to maintain my premiums – what are my options?

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.

I’m worried about fraud and scams - do you have any advice?

Criminals never sleep and they are sadly using Covid-19 as another opportunity to benefit.

Please check out our information on fraud and scams.

I want to understand what my policy offers me?
Of course. You can take a look at your terms and conditions to see the features of your product. Or you can contact us and we can tell you. If necessary you can also talk to a financial adviser about what plans you could put in place for the future.
I’m struggling to make ends meet. Can you help?

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


Are you offering non-standard payment breaks outside the policies terms and conditions?
We can only offer formal payment breaks to certain vulnerable customers.

If you’d prefer to phone us this is how you can give us a call: