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Life Insurance

LV= Life Insurance pays a lump sum if you die during the term of the plan.

A family with LV= Life Insurance pitching a tent with a green heart

Why you might want to take out LV= Life Insurance

The lifestyle of your loved ones may be seriously compromised if you die. Help protect their future with some financial support if you died.

  • Get insured from £5 a month
  • Quick and easy online application
  • Peace of mind that your loved ones are protected

Exclusive member rewards

You automatically become a member which gives you access to a range of benefits at no extra cost:

  • 24 hour member care line to help with:
    - criminal and civil law queries
    - health and medical questions
  • community fund supporting good causes.
  • participation in election of board directors.

Cover features

  • Option of choosing level or decreasing cover (decreasing cover reduces the amount paid over time, level is fixed and won't keep up with inflation).
  • Choose the amount of insurance or monthly amount you wish to spend starting from £5 a month.
  • Choose the length of time you'd like the plan to last. After the insurance starts the premium and length of time is fixed.
  • Life insurance cover of up to £500,000 (£300,000 if you're 56 to 65, or £200,000 if you're 66 to 69 when you apply).
  • If you're diagnosed with a terminal illness during the plan term you can ask us to pay out your insurance policy early.
  • You can take out additional policies to increase the total amount you are insured for.
  • The amount of insurance available will be personalised to your individual circumstances such as your age and whether you smoke or not.

Important information

  • Level cover provides a fixed sum and doesn't change. It won't keep up with inflation and will buy less in the future.
  • Decreasing cover will reduce each year but your premium will remain the same.
  • You can't claim under a terminal illness in the last 12 months of the plan.
  • After your plan has been issued, you can't change it.
  • If you die, we'll normally pay the lump sum to your estate. Inheritance tax could apply to the part that's worth over £325,000 (tax years 2017/18 to 2020/21).
  • If you stop paying your premiums, your insurance may end.
  • The terminal illness payment is 3% less than the original insured amount and your plan will end after this payment.
  • We won’t pay a claim if you die as a result of intentionally taking your own life within the first 12 months of your policy.
  • If you're not sure if this product is right for you, you can speak to a financial adviser.
  • Once your policy ends, the insurance stops and you get nothing back. There is no cash in value.

About Life Insurance with us

Video transcript

[Jon Speaking]

Hi, I'm Jon.

Let me tell you a little more about LV=

We're the largest mutual and friendly society in the UK, so when you take a policy with us, it means that you have a direct say in how we run our business.

You're at the heart of our decision making and that's something we're really proud of.

Back in 1843, we set out to provide life cover to help people save for their funerals and ease the burden on their families with this expense then they're gone.

And we're still doing this today, so you'll have the reassurance of knowing that you're part of a long history of providing financial security to our members.

As a customer, you'll become a member which gives you discounts on our car, home, pet and travel insurance.

As well as access to our free 24 hour member care line, for legal, health and medical enquiries.

We pride ourselves on being the most trusted and recommended life insurer, but don't just take our word for it.

[Reevoo testimonials]

"Quick, easy and dependable"

"Easy application, no misleading questions, value for money"

[Jon speaking]

LV=, good value, great values

You can also phone

Call our friendly UK-based team for more information

Phone0800 756 8520

Quoting offer code IELO

9am - 5pm Monday to Friday

Existing customer?

Phone
0800 678 1906

8.30am - 6.30pm Monday to Friday

Existing customer section

TextDirect first dial 18001

We may record and/or monitor calls for training and audit purposes.


Our Life Insurance application is quick and easy

Woman thinking about her future

What life has in store for you

Using our Risk Calculator, you can get an idea of the chances of you/your partner dying or being off work before retiring.


How to buy life insurance

All we ask is that you're a UK resident, you're aged 17 to 69 when your plan starts and your premium is at least £5 a month.

  • Read the product information and the policy summary to help you understand the benefits of the product.
  • Decide how much cover you need or amount you can afford every month.
  • Decide the length of time you need the insurance for.

The information given in these pages should not been seen as advice to take out the plan so if you're happy the cover meets your needs you can complete our online application.

If you're not sure if this product is right for you, you can phone us for more information or get a quote over the phone. Our lines are open Monday to Friday 9am - 5pm.


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 about life cover

Why choose LV=

An insurance provider you can trust established in 1843.

  • 97% of claims paid in 2016
  • UK's largest friendly society

Policy documents

  • Policy summary
  • Policy conditions

View policy documents

FAQs

From what's covered, ways to get set up or even how to claim, our library of FAQs can help.

View our Life Insurance FAQs