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Life Insurance with Critical Illness

What happens if I don't pay my Life Insurance premiums?


We give you 60 days from the due date for you to pay a premium. Afterwards, in most cases your cover will stop and your policy will be cancelled. In this case you won't get any money back. If we have to cancel your policy, we'll of course let you know.

We understand that times can get tough and you need to make hard choices about what you can afford. Something to consider is that the price you pay each month is based on factors such as your age, lifestyle and your medical history when you take out the policy at the start which will be different as time goes on. This will probably mean taking out a new insurance policy later will be more expensive.

If you have a life insurance policy with is, then you'll also be a member of LV=. Members have have access to the member care line and the member support fund which can help make your life a little bit easier.

You may also consider revising your budget. If you have a financial adviser then they can help with this. The Citizens Advice Service also have online help with debt management and making a budget.

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