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How protection has helped others

If you're like most people you probably don't think about protection that often

What others do

Who needs protection?

We have a team of experts who live and breathe protection. Every week we speak to hundreds of people just like you, helping them plan the best blend of cover for their available budget. Here are a few examples that portray the types of clients we've helped and show you how we work. They aren’t actual clients, but they’re designed to give you an idea of how we can help people like you.

How our experts can help you

How we helped a young graduate secure his income

We had a call from a young man who had just started work after finishing University. He was worried about protecting his income if he was made redundant or off sick from work. He had heard from an adviser who visited them at Uni that Income Protection policies were cheaper when you were younger.

We talked to him about his income and outgoings. Although his outgoings were minimal at the moment he decided it was worth covering the maximum amount of benefit taking into account his age. We explained that as his salary increased over time he could increase the cover without any additional underwriting requirements at that time. We also considered Life cover but as he had no dependents and no mortgage there was no need for it.

The result was that we recommended accident, sickness and redundancy cover, right up until his planned retirement age of 67, for the maximum benefit. He thought the cover was well worth the cost.

How we helped a young bride-to-be and her fiancé

The bride-to-be in question explained that they were in the process of buying a new property but had been bombarded with so much information that she felt really confused about what type of cover her and her fiancé needed.

We talked to her about her concerns with regard to paying the mortgage and bills if either her or her fiancé were unable to work due to sickness or an accident, or suffered a serious illness, and in the event of death whether they wanted to leave the property to each other mortgage free. Once we had talked this over, we identified the areas they were most concerned about, taking into account their income, outgoings and budget.

We agreed the best plan was to take out joint life cover for the new mortgage, accident and sickness cover for her fiancé, plus accident, sickness and redundancy cover for herself as she felt she had less security in her job. Our experts are always happy to spend as much time as it takes to make sure we get the right policies in place at the best cost.

How we helped a proud new father upgrade his cover

We’re always pleased when an existing LV= customer comes back to us and this particular one had just become a proud Dad following the birth of his first son. He called to review the cover he already had in place with us.

We asked what their circumstances were now and he explained that there had been no changes to their mortgage since they took out their Life and Critical Illness cover with us. That meant their existing policy was still right for them. However we then chatted about how long he felt his son would remain financially dependent on him and his wife. He felt that would probably be until he was around 23.

We then reminded him that although the mortgage would be paid in full if either he or his wife were to die, he should think about whether the surviving partner could manage financially if that happened whilst their son was still dependent, as they would lose an income? It became clear that this would be a worry as his wife was reducing her hours of work and wouldn’t be able to provide for their son without his income, and that he would be equally pushed to cope if anything happened to her.

We agreed on separate policies for him and his wife, both for 23 years but with the amount of cover on his life higher to cover the loss of his income. The lower level of cover for his wife reflected his feeling that in the event of his wife’s death he would continue working but would need additional financial support to cover child care costs. He was proud and we were proud – it’s always good when a plan comes together.

How we helped a family review their protection needs

We had a call from a mum who felt many things had changed since she and her husband had initially looked at the protection needs. They had policies with lots of insurance companies and really wanted them all under the ‘same roof’.

We explained that, rather reviewing her existing cover, which was with other providers, we could review their current circumstances and see if the cover they had in place already met all their needs.

As her husband was the main earner so we also considered a higher amount of cover for him, to include other living expenses.

We recommended additional life insurance to protect their growing family and provide a lump sum in the event of either parent’s death. This was in addition to covering the mortgage. Although we highlighted all the areas they needed to consider, at this stage these parents just wanted to make sure their children would be taken care of if they weren’t around.

How we helped a single mum

A single mum called us as she was really concerned about who would take care of her daughter financially if anything happened to her. She had a part time job, and was renting her home.

We talked to her about who would look after her daughter if something happened to her, and how long her daughter was likely to stay financially dependent on her guardian - we normally recommend planning for up to the age 23. She agreed with this, and so we moved on to discuss how much financial support her family would need to bring up her daughter in the event of her death.

We recommended Life insurance to help her next of kin in looking after her child until she was no longer dependant. This provided the peace of mind this single mum needed, knowing that her daughter wouldn't go without anything if something happen to her.

Talk to an expert

Our UK Protection team are here to help:

Phone

0800 202 8131

TextDirect: 18001 0800 202 8131

9am - 5pm Monday to Friday

We may record and / or monitor calls for training and audit purposes.

We offer a range of the protection, pension, annuity and investment products from the Liverpool Victoria group of companies.

We also offer protection, annuity and investment products from a limited number of other companies.