Coronavirus - personal sick pay

Covid-19 update for Personal Sick Pay policies

As efforts continue to save lives and protect our NHS, we’re still being encouraged to work from home where possible, and continue with social distancing measures.

Of course our thoughts and concerns are with the ones we love and everyone’s health and wellbeing. But if you have an Personal Sick Pay policy with us you may naturally be thinking about whether it could help.

LV= Personal Sick Pay is a type of income protection aimed at people who have riskier jobs - such as tradespeople, nurses and construction workers. As such, if you have this product you may not have the option of working from home at this time and could be wondering where you stand.

Can I make a claim

If you’re unable to work and want to find out whether you can claim, the following information should help.

Your waiting period

How long will I have to wait before making a claim?

When you took out the policy you will have chosen a ‘waiting period’. Put simply this is the amount of time you will need to be unable to work for, before you’re able to claim.

With Personal Sick Pay your ‘waiting period’ could be either of these two options:

  • Day one option – If you chose this option your Personal Sick Pay would start from the first day you become too unwell to work. However, you do need to be too unwell to work for 3 days in a row before you can claim on your insurance. Once you claim we’ll backdate the amount to cover these three days. 
  • 1, 4, 8, 13, 26 or 52 week options – If you chose any of these options you would need to be too unwell to work for this number of weeks before you started getting paid your insurance.

Please note if you applied for Personal Sick Pay after 27 March 2020 then you wouldn't of been able to take out a policy with a day one or 1 week waiting period.

If you’re unsure about what your waiting period is this will be in your policy documents.

Making a claim

How long will it take to get payment for a claim?

At this time we know how important it is to get things sorted for you as quickly as we can.

Our claims team will deal with a claim in the most sensible way possible in terms of gathering evidence.

They’ll take into account your circumstances, the guidance you’ve been given and any other income you’re receiving

Answers to other questions you might have about Personal Sick Pay

How do I know when I can make a claim under my policy?
This is set out in the policy conditions which you would have received when you took out your policy. If you don’t have these, then please contact us and we can let you know or send out another set of terms and conditions for your policy.
I applied for a new LV= product but I haven’t heard anything. What should I do?
We’re still accepting new business and processing any applications but it may be taking us slightly longer to do this. We’ll be in touch as soon as possible. If you’d like to know the progress of your new product please contact us.
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 want to increase my cover. How do I do this?
You will need to complete an application form. Please contact us for a form. Or if you have a financial adviser, please get in touch with them as they will be able to access any forms and help you complete them.
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.
I’ve just lost my job. Can I make a claim under the policy?
Most of our income protection policies only offer cover where customers are unable to work due to accident of illness. However our mortgage & lifestyle protection (MLP) product offered optional unemployment cover. If you have an MLP policy and wish to make a claim please contact us.
I’ve put in a claim so what happens next?

We’ll be working on this and will keep you informed along the way.

If you’d like to check the progress of your claim please contact us.

Will I still get payments from LV=?
If we’re already paying you regular amounts from your Personal Sick Pay policy these will continue as normal.
Can I cancel or postpone premiums for my policy?
Of course, but you need to consider the impacts carefully. For instance you won’t be covered, or be able to claim if something happens. We urge you to think about any steps you take, and if necessary speak to your financial adviser first.
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.

For instance you won't be covered, or be able to make a claim if something happens. We encourage you to think about any steps you take, and give us a call so we can talk this through with you.

Can I reduce the value of my premium?
Yes, but you can only do this by reducing the amount of cover on your policy. This has always been an option for you. But, in the past, to reverse this and increase your cover again it meant answering medical questions, and it wasn’t always guaranteed we could increase it back to what it once was, or at all. 

However, we know that some of our members are under more financial strain than usual at the moment, and we want to help. If you took out your policy before 1 March 2020* we’re now able to temporarily lower your cover for 6 months. This would in turn lower the amount you pay for it. At the end of the 6 months we’ll automatically increase your cover again without any need for you to go through additional medical checks or questioning. This will mean the amount you pay each month will also increase automatically. 

If you want to increase your cover again before the 6 month period has ended, you’ll need to let us know. We’ll need to take you through some medical checks and it’s not guaranteed we’ll be able to increase it again before the 6 month period has ended.  

Alternatively, if you want to continue with this lower level of cover for longer than 6 months,  you’ll need to contact us to let us know before we automatically increase your cover again. Continuing with lower cover for longer than the 6 months will mean you’ll need to complete further medical checks and questioning should you want to increase your cover again in the future, and it’s not guaranteed we’ll be able to increase it. 

If you’d like to talk to us about reducing how much you pay each month please get in touch, or contact your financial adviser who can speak to us about it for you.

*Please bear in mind this option isn’t available if you have a policy taken out after 1 March 2020, of if your policy is Sick Pay Insurance, Quick Cover Life Insurance, or a Pension Term assurance policy. If you’re unsure please contact us and we’ll be able to confirm this for you.

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 more about what the Personal Sick Pay 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.

Are you offering non-standard payment breaks outside the policies terms and conditions?

If you are facing an exceptionally challenging time which means that you're financially impacted and can't pay your normal premiums, we may be able to offer you a 'payment break'.

This option is for particularly vulnerable customers that need extra support above and beyond what's included in the policy, our additional support services or member benefits. The offer of a payment break is subject to certain criteria and your individual circumstances.

To be eligible for a payment break option, you should:

  • have a policy that's been in place for 12 months or more
  • have maintained your premiums in the past
  • not be more than 3 months in arrears
  • not have used a payment break before
  • have an individual income of less than £50,000
  • have been adversely impacted by a significant drop of 50% or more to your income, or your usual earnings have stopped
  • not be receiving furlough support.

If we are able to offer any payment break we'll be able to do this one month at a time and will review the situation with you on a month by month basis.

Your cover would remain in place, in full, during any payment break. And you'd be able to make a claim in the usual way, in line with the terms and conditions of your policy.

A 'payment break' option may also be available for our members who are considered vulnerable and are unable to pay premiums due to a mental or chronic physical health issue, or are coming to terms with the death of a close family member.

If you would like to explore a payment break option please contact us so we can talk to you about your circumstances and current income situation.

If you'd like to speak to us about your policy: