We are deeply saddened by the situation in Ukraine and our heart-felt thoughts are with the Ukrainian people here and abroad.
The safety and wellbeing of people across the region is clearly the key concern.
The catastrophic circumstances taking place in Europe and the global impacts is another inevitable worry. In situations that we can’t directly influence it’s natural to seek solace in what we can control. We’ve created this space to provide information for our members.
If needed you can also access one of our member benefits. Our Health and Wellbeing Line offers in-the-moment support from trained counsellors.
Savings and Retirement
In recent years we have become used to volatile markets following a period of stability. That does not mean it is not an uncomfortable journey for investors though.
Equity Release
We welcome the UK Government's Homes for Ukraine scheme and are currently exploring ways that LV= Lifetime Mortgage customers can easily participate. We'll update this page as soon as we can with further details.
Protection
We’re actively monitoring the Russia-Ukraine crisis and the implications for prospective and existing LV= protection policyholders. We’re keeping developments under review and working closely with our respective reinsurers.
Your questions answered - protection members
LV= protection is open to those living permanently in the UK only. Restrictions may apply if you spend time abroad, or intend to. We ask questions about this in our usual application journey.
Presently, we’re unable to offer cover if you declare that you’re intending to travel to Ukraine, Russia or Belarus.
We’d remind you of the importance of ensuring that you provide honest and truthful information when you apply, as failure to do so may mean we’re unable to pay a claim, and could cancel your policy.
Our geographical coverage, conditions for claim and exclusions depend on the type of policy. No geographical restrictions apply to life cover (if the policyholder dies outside of the UK). However, for income protection and critical illness claims, we do operate geographical limits (listed countries). Ukraine, Russia and Belarus fall outside those geographical limits.
With an income protection claim for example, this might mean we limit paying the claim to a maximum of 26 weeks. If, at the end of 26 weeks, you return to one of the countries listed we’ll continue to pay you. We’ll also stop paying a claim if you travel from one of the listed countries to stay in one that is not listed for more than two weeks.
With a critical illness policy, we’d require diagnosis to be confirmed in a listed country.
More information will be included in your policy conditions. At LV= we’re proud of our human and pragmatic claims approach, ensuring that we always consider an individual customer’s circumstances.
We do not have a specific war exclusion on our life insurance policies or our current main income protection policies.
- Under our income protection rider benefit of ‘unemployment waiver’, we will not pay an unemployment waiver claim if it’s due to the life insured’s direct or indirect involvement in a riot or a war.
- Under our critical illness policies we will not pay a claim for double accident benefit if the person insured is actively taking part in any riot, civil commotion, uprising or war (whether declared or not), or any related act or incident.
- Some older income protection or unemployment policies no longer open to new business may have an exclusion.
In all circumstances we’d recommend that you read your policy conditions to understand what you’re covered and not covered for.
At LV= we’re proud of our human and pragmatic claims approach, ensuring that we always consider an individual customer’s circumstances.