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What is Life Insurance and how does it work?

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


Life insurance is used to provide a payment if you die and is usually used to provide for loved ones if something happens to you, such as making sure they have a home to live in.

Generally, there are two types main types of policy:

Life insurance over a specific term

These run for a specific time, usually chosen when you take out the policy. After at the end of the term, the policy ends and you wouldn't be covered.

Life insurance for the whole of your life

These have no specific end date and will pay out whenever you die, as long as you keep up the payments.

Each policy is different and you should spend time making sure you understand how it works and how the money will be used by the people that depend on you.

Our Life Insurance is over a specific term. You can get a quote from us online to see how much it will cost you each month, however if you're unsure you should speak to a financial adviser to understand your protection needs.

More on our life insurance

Back to Life Insurance general 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