Our LV= products are described as being with-profits or non-profit. Learn the differences between these two product types below:
What’s a with-profits product?
With-profits products are long-term investment products where the premiums are pooled together in the With-Profits Fund and invested. Products that invest in the With-Profits Fund benefit from bonuses, smoothing (where the investor is cushioned from the ups and downs of the stock market) and/or other guarantees.
More about With-Profits Fund information
What’s a non-profit product?
Non-profit products come with benefits that are clearly defined from the start of the policy. Unlike with-profits products, non-profit products do not offer discretionary bonuses. Examples of non-profit products include term assurance, income protection, critical illness and unit-linked pensions.
This group also includes Teachers non-profit policies that we acquired when we took over the Teachers Provident Society Limited in 2016, and RNPFN non-profit policies that we acquired when we took over the Royal National Pension Fund for Nurses in 2001.
LV= products open to new business today
The following with-profits and non-profit products are issued by LV= and are available for consumers to take out today.
With-profits products available today
Savings and Retirement:
- LV= ISA
- Smoothed Managed Funds Bond Series 1
- Smoothed Managed Fund ISA Series 1
- Smoothed Managed Funds Pension Series 1
- Smoothed Managed Funds Trustee Investment Plan Series 1
- LV= Fixed Term Investment (Protected Retirement Plan)
- LV= Fixed Term Annuity (Protected Retirement Plan)
Non-profit products available today
Protection:
- Family Income Benefit
- Gift Inter Vivos
- Income Protection (Budget versions available)
- Life and Critical Illness Cover
- Life and Enhanced Critical Illness Cover
- Life Protection
- Personal Sick Pay (Budget version available)
Business Protection:
- Business Protection Life Insurance
- Business Protection Combined Life and Critical Illness
- Executive Income Protection
- Relevant Life Cover
Savings and Retirement:
- LV= SIPP
Products closed to new business but are still in force today
The following with-profits and non-profit products were issued by LV= and friendly societies and companies acquired by LV=, a long time ago.
With-profits products
Heritage:
- All-In-1 Investment Bond
- Appropriate Personal Pension policy
- Bank of Ireland/Liverpool Victoria Group With Profits Bond
- Family and Legacy Fund
- Flexi Guarantee Plan
- Flexible Guarantee Bond (series 1-3)
- Flexible Guarantee Funds also known as Flexible Guarantee Trustee Investment Plan (series 1-2)
- Flexible Investment Bond
- Flexible Personal Pension Plan
- Flexible Savings Plan (two versions)
- Flexible Whole Life policy also known as Flexible Whole Life Assurance policy
- Guaranteed Capital Bond
- Immediate Care Fees Plan (a tax advantaged Purchased Life Annuity)
- Low cost endowment
- MAX
- Mortgage Savings Plan (two versions)
- Mutual Investment Bond (two versions)
- Pension Income Plus Annuity
- Regular Savings Plan
- Taxable endowment
- Tax-exempt endowment
- Tax-exempt whole-of-life
- Tax-exempt whole-of-life with regular cash payments
- Tax Free Savings Plan
- Taxable whole-of-life
- Taxable whole-of-life with regular cash payments
- Top-up Company Pension Plan
- With Profits Growth Bond (two versions)
- With Profits Income Bond
- With Profits Investment Bond (two versions)
- With Profits Life ISA
- With Profits Pension Annuity (series 1-4)
- With Profits Retirement Plan
Conventional Pensions sold before 1997:
- Free-Standing Additional Voluntary Contribution Policy - including annuities in payment
- Retirement Account Contract aka Ordinary Branch Pension-Annuity - including annuities in payment
- Personal Pension Policy (two rate series) - including annuities in payment
Savings and Retirement:
- Flexible Guarantee Bond (Series 1-3)
- Flexible Guarantee Fund (Series 1-2)
- Flexible Guarantee Plan
Non-profit products (including UIA, UIB and Permanent)
Heritage:
- Accidental Death Benefit
- Decreasing Term Assurance – Mortgage Linked
- Decreasing Term Assurance – Family Income Benefit
- Level Term Assurance
- Life Cover Plan
- Mortgage Linked Life Cover
- Non-profit annuities
- OB Tax-exempt whole-of-life non-profit
- OB Taxable whole-of-life non-profit
- OB Taxable endowment non-profit
- Pension level Term Assurance
- Pension Linked Life Cover
- Pension Term Assurance
- Retirement Term Assurance
Protection:
- 50 Plus plan
- 50 Plus Whole Life Non Profit
- Asda Over 50s life Cover
- Business Expenses*
- Business Momentum*
- Business Protector*
- Budget Income Protector*
- Budget Protector*
- Critical Illness*
- Critical Illness Lifetime*
- Critical Illness Mortgage*
- Critical Life Lifetime*
- Critical Life and Mortgage*
- Critical Mortgage*
- Decreasing Term Assurance (mortgage linked, family income benefit)*
- Executive Protector*
- Family Income Assurance*
- Flexible Mortgage Protection Plan*
- Flexi Protector*
- Income Protector*
- Level Term Assurance*
- Life Protection with Tax Relief
- Life Time+
- LV= Life Insurance
- Mortgage and Lifestyle Protection
- Mortgage and Rent Cover
- Mortgage Payment Protection (Health and Budget Health)
- Pension Level Term Assurance*
- Quick Cover Life Insurance
- Sick Pay Insurance
- Term Assurance*
- Term Life Incl. Ben*
- UIB Life Cover Plan
- UIB Critical Illness Plan
*These products were first issued by Permanent Insurance Company Limited and then by LV= under the same name product name.
Savings and Retirement:
- Immediate Care Fees Plan (a tax advantaged Purchased Life Annuity)
- LV= Annuity
- Pension Annuity
- Rebate Only Plan
- Transitions Retirement Plan
UIA products that were issued by UIA (Insurance) Limited and looked after by LV=:
- Bond (ex-unitised with-profits)
- Decreasing Term Assurance
- Senior Plan
- Taxable endowment
- Taxable endowment (ex-conventional with-profits)
- Taxable whole-of-life (ex-conventional with-profits)
- Taxable whole-of-life
- Term Assurance
UIB products issued and managed by Union Income Benefit Holdings and looked after by LV= as the insurer:
- UIB Critical Illness Plan
- UIB Life Cover Plan
Permanent policies that were issued by Permanent Insurance Company Limited (or were transferred to it from Contingent Life or Minster) and looked after by LV=:
- Accident and Sickness Insurance
- Care Protector
- Cash Back Temporary
- Convertible Term
- Convertible Temporary Life
- Group Permanent Health Insurance
- Income Benefit Assurance
- Income Shield
- Mortgage Protection
- Mortgage Protection Plan
- Non-profit annuities
- Professional Expenses
- Permanent Health Insurance
- Permanent Profit Plan
- Temporary Life Acc.
- Temporary Life Assurance
- Whole-of-life policies
- Whole-of-life policies (ex-conventional with-profits)
Teachers Assurance
The following policies were issued by Teachers Assurance and are now looked after by LV=. More about Teachers Assurance products.
With-profits products
|
|
Non-profit products
- Capital Investment Bond (2 series)
- Decreasing Term Assurance (mortgage linked, family income benefit)
- Deposit Sickness Benefit
- Flexible Savings Plan
- FSAVC Pension Plan (4 series)
- Investment Bond
- Level Term Assurance
- Non Profit Annuities
- OB Taxable endowment non-profit
- OB Taxable whole-of-life non-profit
- OB Tax-exempt whole-of-life non-profit
- Pension Decreasing Term Assurance
- Pension Level Term Assurance
- Personal Pension Plan (3 series)
- Personal Retirement Pension Account
- Stakeholder Pension Plan
- Surplus Contribution Account
RNPFN
The following policies were issued by Royal National Pension Fund for Nurses and are now looked after by LV=. More about RNPFN products.
With-profits products
- Endowment
- Guaranteed Moneybuilder
- Liberty AddPlan
- Liberty Pension Plan
- Low Cost Endowment
- Moneybuilder aka Bonus-Sharing Moneybuilder
- ONE ISA
- Retirement Account Contract
- Whole Life
- With Profits Bond
Non-profit products
- Decreasing Term Assurance – mortgage linked
- Investment Bond
- Non-profit annuities in Group Schemes
- Non-profit annuities from vested Moneybuilder (life) policies
- Non-profit annuities from vested pensions
- Non-profit deferred annuity – pension
- Maximum Investment Plan
- Term Assurance
- Whole-of-life
Insurance
Life, Investments, Pensions and Retirement
Company
Contact us
