When eligible policies end, they’ll currently receive an exit bonus of 5.75%
The exit bonus rate is reviewed annually by the LVFS Board in January of each year. They consider several factors, when deciding what rate to apply.
Once the new rate has been agreed, it will then be used to uplift pay-outs and income for eligible policies typically from the following 1st March. We’ll publish this rate on our website on or shortly after this date. We reserve the right to review the rate at other times in the event of an unexpected change in the factors we consider.
The Board declared an initial exit bonus rate of 5.75% in 2020. The rate declared on 1 March 2021 was also 5.75%. This rate will continue to be used to uplift payouts and income for eligible policies until the next rate is declared, which would be on 1st March 2022 unless there is a need to review it earlier.