Our LV= products are described as being with-profits or non-profit. Learn the differences between these two product types below:
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.
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 protection non-profit products include term assurance, income protection and critical illness. And examples of savings and retirement products include annuities 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.
The following with-profits and non-profit products are issued by LV= and are available for consumers to take out today.
*These products were first issued by Permanent Insurance Company Limited and then by LV= under the same name product name.