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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


LV= Life Insurance is designed to provide a one-off lump sum payment if you die before the end date of your plan.

Also, you can ask us to pay out if you're diagnosed with a terminal illness before the last 12 months of the plan. However, we'll reduce the amount we pay you by 3% and the policy will end.

The cash could be used to pay off a mortgage or provide a lump sum to ease financial worries for your family.

It’s aimed at people who don’t drink a lot, don’t smoke a lot, and are generally healthy. Of course this doesn’t mean that you can’t apply if you aren’t healthy, do drink a lot, or smoke a lot, it just means that you may have to pay a higher premium or you may not be accepted for this plan.

You can apply for LV= Life Insurance either on-line or over the telephone.

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