LV= Life Insurance


Liverpool Victoria - trading as LV= since May 2007 - is one of the UK's largest insurance companies. LV= offers a range of insurance and retirement products to over five million customers. LV= Headquarters are in Bournemouth in the UK and they employ around 5,700 people.

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The History of LV=

.LV= dates back to 1843 and was founded as a burial society, most commonly associated with 'penny policies' - a method of saving for people of modest means - Life Insurance for a penny a month. Door to door agents would collect the penny premiums, allowing people to leave something behind and cover the cost of a decent funeral. LV=  began as 'The Liverpool Independent Legal Victoria Burial Society' with the first office buildings in Liverpool. In 1930, they moved to London and in 1996 to Bournemouth. On 2 January 2020, Liverpool Victoria moved away from its friendly society status and became Liverpool Victoria Financial Services. Throughout their 175+ year history, Liverpool Victoria have continued founder William Fenton's intentions and helped people live more confident lives.

LV='s Life Insurance Policy Review

Liverpool Victoria offer a comprehensive Life Insurance policy with a number of additional benefits included for free. 


LV= Life Insurance Overview

Includes life cover and terminal illness cover  Critical Illness cover can be added for an additional premium.

Policyholders age  You can take out a policy between 17 - 79 years 

Types of cover available  LV= offer Level Term Insurance, Decreasing Term Insurance, Increasing Term Insurance and Family Income Benefit. 

Policy Term the length of time your policy can run for can be between years. 

Maximum Benefit Unlimited for Life Insurance and Critical Illness Cover


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LV= Life Insurance Cover

Life Insurance with Liverpool Victoria

Life Insurance  LV Options
Types of Cover offered
  • Term Life Insurance
  • Decreasing Term Life Insurance
  • Increasing Term Insurance 
  • Family Income Benefit
Minimum Age Entry 17 years old
Maximum Age Entry 79 years old
Maximum Benefit Unlimited 
Terminal Illness Cover  Yes
Premium Type
  • Guaranteed
  • Annually increasing
Joint Policy Yes

LV= Life Insurance Key Benefits

Benefit Details
Guaranteed Increase Options Increase your benefit by up to 50% because of a life change, such as getting married or having children with no further requirement for medical evidence.
Splitting a Joint Policy LV= allows you to separate your joint policy into two separate policies if you get a divorce or dissolve a civil partnership. 
Additional Free Benefits Including access to LV= Doctors Services, which includes remote access to over 5,000 UK Medical Professionals, prescriptions, physiotherapy, mental health support and Health MOT access.
Advanced Funeral Payment LV= offer an advanced of up to £10,000 of your payout before probate, to cover funeral costs.


How to Make a Claim

If your policy number is in the format 123456-0001-5N or 1234567-0001-A

Lines are open: 9am - 6pm Monday to Friday.

Calling from abroad? +44 1392 366 685.

If your policy begins with a letter A, B, C, F, L, RN, T, U, V or X

Lines are open: 9am - 5pm Monday to Friday.

Calling from abroad? +44 1392 366 685.


Frequently Asked Questions

What happens if I out-live my Term Life Insurance policy?

A Term Life Insurance policy does not provide a cash sum if you are still alive at the end of the term. Premiums tend to be lower for such policies as the majority will out-live their policy. Term Life Insurance policies are generally taken out by people who do not want to leave any financial burden on their family such as mortgage payments.

What is the difference between Over 50’s and Whole of Life Cover?

Both policies will pay out a lump sum upon your death at any age. Generally speaking, Whole of Life cover tends to have cheaper premiums over an Over 50’s plan as you have to disclose your medical information. The most cost effective option for you depends on whether you would benefit from your medical history being disclosed or not. Although the premiums of a Whole of Life policy tend to be lower, you will pay the premium until you pass away, whereas Over 50s plans often have an upper age limit. While your cover will remain, you are no longer required to make payments - usually when you reach 90 years old or the 30th anniversary of your policy.

Can I add Critical Illness to my Life Insurance?

Yes, should you suffer a serious illness Critical Illness cover will pay out a tax-free sum. This can be an add on to your Life Insurance policy or bought separately. Speak to one of our expert advisors to find out which policy would best suit your needs.

Who gets the money if my children are young when I die?

Setting up a Life Insurance policy is designed to protect loved ones and writing the policy into trust goes a step further in achieving this goal. This enables you to select who would hold the money for your children until they reach a certain age should you die. This will often be a partner, sibling or close friend as they will have a legal responsibility to carry out the wishes of the person creating the trust.


Will my cover cost more as a smoker?

Life Insurance is a risk-based product and so with the significant health impacts that smoking can have on a person, the insurance companies will charge someone a higher premium should they smoke. A smoker is usually defined as someone who has used any nicotine product in the last 12 months although some insurance companies have changed this to longer periods. If you took a policy while smoking and you no longer smoke, you should contact us to review your policy.

Will my cover cost more if I vape?

Vaping is a recent trend which insurance companies and health bodies have had to educate themselves on. The vast majority of e-cigarettes still contain a level of nicotine which can be addictive and so anyone who uses such products will still be classed as a smoker.

Is my premium fixed?

Most people tend to like the idea of their premium never changing as it provides stability and peace of mind – these are known as guaranteed premiums. Reviewable premiums are sometimes opted for whereby the premium can start at a lower amount but increase over of the course of the policy.

Will my Life Insurance payout be taxable?

No, your insurance payout will not be liable for tax.


LV= Life Insurance Policy Documents

For the LV= Life Insurance+ Key Facts and Policy Terms & Conditions documents, see below.


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Life Insurance Guides

Below are our in-depth guides to help you understand Life Insurance better and learn more about how it works. Don't forget our advisers are always at the end of the phone to offer free, expert advice should you prefer to speak to someone in person.