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:
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.
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.
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.