LV= Life Insurance Overview

LV= life insurance can provide a financial safety net for loved ones if you die or become terminally ill during the policy term Choose between level, decreasing and joint life insurance Option to add critical illness cover to your policy


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Written by Tim Leonard

Last updated on 04 August 2022.

LV= insurance FAQs

Who is LV=?

LV= provides insurance, retirement and investment solutions to customers in the UK, including life insurance, pensions, annuities and ISAs. As a mutual, LV= is owned by its members, of which there are over 1.1 million. The LV= brand is a nod to its former name of Liverpool Victoria – the company was founded in Liverpool in 1843.

How does LV= life insurance work?

Life insurance from LV= is designed to offer peace of mind that your loved ones will be financially protected if you’re no longer around. The way it works is that if you take out LV life insurance and pay the monthly premiums required, your policy will pay out a lump sum to those you leave behind if you die within the policy term. Terminal illness cover, which is usually included at no extra cost, also allows you to make a claim early if you have less than a certain time left to live.

LV= also provides the option to add critical illness cover to its life insurance, which will pay you a cash lump sum if you are diagnosed with a serious illness that is covered by the policy during the policy term.

» COMPARE: Life insurance

What type of insurance policies does LV= offer?

LV= offers a range of life insurance policies, including:

  • level term life insurance
  • decreasing life insurance
  • joint life insurance
  • life insurance with critical illness cover
  • business protection

» MORE: What are the different types of life insurance?

How do I make a LV= insurance claim?

If you want to make a claim for an LV= life insurance payout, you’ll need to call LV=.

LV= advises having an original death certificate before making a claim. For terminal illness claims, you should have the relevant medical reports.

Can I cancel my LV= life insurance?

You should be allowed to cancel your LV= life insurance policy at any time. If you decide to cancel within 30 days of taking out the cover, you should be entitled to a refund of your premiums. Should you cancel more than 30 days after your policy began, you’re not entitled to a refund.

What do I need for my LV= life Insurance application?

When applying for life insurance from LV=, you’ll need to provide details such as your age, sex and occupation. There will also be questions about your health, weight, height and lifestyle, including whether you drink alcohol or smoke. Be prepared for questions about your family medical history and any trips you’ve recently taken overseas too.

You might consider some of these questions quite personal, but they are necessary to help LV= decide whether it will offer you a life insurance policy and the price of your cover. You’ll be contacted by LV= if there is any further information it needs, such as a medical report from your doctor.

» MORE: Life insurance for smokers

Where can I find LV= life insurance reviews?

Customer reviews of LV= life insurance can be found at Smart Money People, where LV= currently receives an average rating of 4.56 stars out of a possible five.

Its reviews on Trustpilot deliver a similar average rating of 4.7 out of five, although this covers LV= and all the products it offers as a whole, rather than just life insurance.

Ratings are correct as at 28 June 2022.

Where can I find the LV= life insurance login and contact details?

LV= life insurance is not among the products that can be managed online through a My LV= account, so there is no LV= life insurance login.

If you have a query about an existing life insurance policy held with LV=, you can ring its call centre, which is open Monday to Friday. Claims can also be initiated via the phone. Visit LV= website for their most up-to-date contact details.

About the author

Tim draws on 20 years’ experience at Moneyfacts, Virgin Money and Future to pen articles that always put consumers’ interests first. He has particular expertise in mortgages, pensions and savings. Read more
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