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What does life insurance cover?

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


Our Life Insurance pays out on death of the people insured, or earlier if there's a diagnosis of terminal illness. The terminal illness must meet our policy definition and you can't claim within the last 12 months of the plan. For our LV=Life Insurance this payment will be 3% less than the original insured amount, although this does not apply to our other 'protection policies.'.

Depending how the policy is set up, it could cover a single person or joint.

We also offer a Life and Critical Illness policy covering 63 listed conditions.

More on Life and Critical Illness

Back to Life Insurance cover questions

Our life insurance application is quick and easy

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