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Level term insurance

Level term life insurance covers you for a fixed period and pays out a lump sum if you die during the policy term.

  • The amount you are covered for is fixed at the start of the plan and won't change.
  • The premiums remain fixed throughout the term of the plan as well.
  • This type of cover could be used to cover an interest-only mortgage, other debts or to help look after your loved ones when you die such as paying for education.

Advantages of level term insurance

  • If you want to leave a cash sum to your family and dependants or to pay off a mortgage after you have died, level cover life insurance could be right for you.
  • It provides certainty as both the cover and the premiums are fixed.

Disadvantages of level term insurance

  • The policy only pays out if you die during the term of the policy.
  • There's no investment element with this form of life insurance so if no claims are made you won't get any money back at the end of the term.
  • It won't keep up with inflation and may buy less in the future.

Our life insurance application is quick and easy

Call LifeSearch on:
0800 197 2266

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

Existing customer?
0800 678 1906

8.30am - 6.30pm Monday to Friday

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.

More about LifeSearch and your protection needs

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


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