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Life Insurance

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

  • Lump sum payout
  • Quick and easy online application
  • Have peace of mind that your loved ones are protected
A family with LV= Life Insurance pitching a tent with a green heart

Why you might want to think about 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.

  • At LV= it's our mission to treat people like family. As a friendly society our customers have a direct say in the way we run our business and as a result they're at the heart of any decisions.
  • 97% of claims paid in 2015.
  • Our simple online application means you could be covered in less than 25 minutes.
  • The majority of customers are covered instantly online.

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 cover 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.
  • Cover of up to £500,000 (£300,000 if you're 56-65, 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 cover early.
  • You can take out additional policies to increase the total amount of cover.
  • The amount of cover available will be personalised to your individual circumstances such as your age and whether you smoke or not.

Important information

  • This plan has no cash-in value and you do not get anything back when it ends.
  • If you stop paying your premiums, your cover may end.
  • Level cover provides a fixed amount of cover, it 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 2016/17 to 2017/18).
  • 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.
  • The terminal illness payment is 3% less than the original cover amount and your insurance plan will end after this payment.

Our life insurance application is now quicker and easier than ever.

The information on this page shouldn't be taken as advice. It's up to you to decide if it's right for you and you should speak to a financial adviser if you're not sure.

LV= Life Insurance Policy Summary

LV= Life Insurance Policy Summary (142KB)

Make sure you read the policy summary so you understand what you're buying.