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Life Insurance with Critical Illness

Our life with critical illness cover can pay a lump sum of money if you die or suffer a critical illness

  • With a total of 63 critical illnesses covered, we’re one of the market leaders
  • Up to £25,000 children’s critical illness cover at no extra cost
  • We pay claims quickly – and you can use your money how you want
Man in wheelchair looking down at a dog with a women stroking the dog and green heart in the background

Decreasing term life insurance with critical illness

Decreasing term life insurance with critical illness pays you a lump sum of money if you die or are diagnosed with a specified critical illness, within the term of your policy. The premiums you pay are fixed but the amount of money you’re covered for reduces over the term of your policy.

Our critical illness cover also provides additional payments for less serious conditions which if paid, are not deducted from your total amount of cover.

  • The amount of money you’re covered for is designed to reduce in line with the amount of money you owe on a typical interest repayment mortgage.

Reasons to choose ‘decreasing term cover’

  • If your mortgage or debt decreases over time, this type of cover could be right for you as it provides you with a lump sum of money that also decreases in-line with your debt, if you die or suffer a specified critical illness, within the term of your policy.
  • Decreasing term insurance is usually cheaper than level term life insurance.

Reasons for not choosing ‘decreasing term cover’

  • The amount of money you’re covered for reduces over the term of your policy , in-line with the amount of money you owe on a repayment mortgage, so if you have an interest only mortgage or if you are planning to make under or overpayments this product may not be suitable for you.
  • Depending on when you die, the amount of money paid may be more or less than the amount you owe on your mortgage or loan. There's no guarantee that it will be sufficient to repay your mortgage or loan.
  • This product is not suitable if you’re looking for a savings or investment product to pay you money at the end of your policy term and you haven’t died.

Our life with critical illness application is quick and easy

Children's critical illness cover

Nicola and Jeremy share their story about their son's illness.

Image of Nicola and Jeremy

Do you need help?

Call LifeSearch on:

Phone0800 197 2266

Mon to Thu 8am - 8pm
Fri 8am - 6pm

Calls may be recorded and/or monitored for training and audit purposes.

LV= have chosen to partner with LifeSearch to offer customers independent advice for protection products.

Enter your details and a LifeSearch adviser will call you back.

If you need cover for total permanent disability you will need to call an adviser. This cover is not available if you apply online.

Existing customer?

Green phone

0800 678 1906
Monday - Friday 8.30am - 6.30pm

TextDirect first dial 18001

Existing customer?

Understand life cover

We've created lots of useful information to guide you through the process of finding which life insurance product is right for you.

Find out more

Why choose LV=

An insurance provider you can trust established in 1843.

  • 91% of critical illness claims paid in 2016
  • UK's largest friendly society

Policy documents

  • Policy summary
  • Policy conditions

View policy documents

Get advice

LV= have chosen to partner with LifeSearch to offer customers independent advice for protection products.

Speak to LifeSearch