Liverpool Victoria Life Insurance

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Fill in the form on this page with the code BL3MF to qualify for THREE MONTHS’ FREE COVER when you set up your Life Insurance policy with us.

Liverpool Victoria Life Insurance – Introduction

Liverpool Victoria was founded in 1843 and has traded as LV since 2007.

Liverpool Victoria has over 5.8 million customers, over 1 million of whom are members.  As they are a mutual society, they have no shareholders and can therefore act in the interests of their members.

Their headquarters are in Bournemouth.  With approximately 6,000 UK staff, they offer a range of general insurance products, including income protection and life insurance.  They sell directly and through brokers and IFAs.

LV paid out at least 97% of claims in each of the three years to 2016.

How Financially Strong are Liverpool Victoria?

In 2018, Liverpool Victoria posted a £136m operating profit and a £20 million profit before tax.

Liverpool Victoria Life Insurance. Your At-a-Glance and Comparison Guide

Life Insurance is designed to protect your loved ones financially should you develop a serious illness or die.  Although no amount of money will reduce your family’s grief, we’re sure you’ll find it comforting that they will be taken care of from a financial point of view after your passing.

Sudden deaths happen every day.  People develop serious conditions that prevent them from working.  Sadly, these are things that don’t just happen to other people; they could happen to you, too, and it’s worth turning to face the fact that should the worst happen, without insurance, your family could lose their home.

Taking out life insurance cover is an important step.  Ensuring that you’ve got the right cover is vital.

Is Liverpool Victoria life insurance the best option for your needs?  Use our easy to read guide below and contact us for more information.  Remember, we have access to all the major UK life insurance providers, not just LV

Here the key things you need to know about Liverpool Victoria Life Insurance:

  • Remember that LV is a friendly society, therefore it can fully support the needs of its members and policyholders – there are no shareholders to keep happy.
  • LV’s Flexible Protection Plan allows you to include other protection products from them into a single plan. This could include income protection, personal sick pay, critical illness cover and a combined critical illness cover.
  • LV’s critical illness cover will protect you against 44 critical illnesses, with an additional 20 conditions supported by part pay outs.
  • Further, there are an extra 16 critical illnesses that incur advanced pay outs, of either 150% or 200% of the original sum insured.
  • Children’s critical illness cover. Benefit is increased from £25,000 to £50,000 if the claim is as a result of an accident.
  • LV offers guaranteed premiums, which means that they will remain constant unless you increase your cover or the benefit has been indexed.
  • Your policy can last up to 45 years. This is shorter than other insurers, who will offer you cover for 50 or more years.
  • There is no minimum or maximum amount of cover you can apply for. There is however a minimum premium of £5 per month.
  • Overseas cover. If you’re diagnosed as being terminally ill, you must be diagnosed as such in one of LV’s specified countries.  However, there is no limit on the amount of time you spend overseas.  Your cover will remain whatever your length of time away from the UK.
  • LV Health and Wellbeing Line. A 24-hour support and advice line, giving you access to nurses, lawyers and counsellors.
  • LV Doctors Service. You will have access to a remote GP service to offer you a private prescription service, as well as a second opinion if you are diagnosed with a serious illness.
  • Inheritance tax. There may be an inheritance tax liability on your pay out if your benefit is more than £325,000 (your nil-rate band limit) and not offset by your mortgage.  Speak to the experts here at Black Lion Insurance for more information.

Overview of Key Policy Details – Liverpool Victoria Life Insurance

Policy Type Life Insurance
Options Level Term, Decreasing
Policy Coverage Single Cover, Joint life first death, life of another, joint life of another
Type of premium Guaranteed
Terminal Illness Cover Yes, included
Optional Critical Illness Cover Yes
Critical Illnesses Covered


Plus 30 additional critical illnesses for partial pay outs

Indexation Optional
Waiver of premium Optional
Maximum Cover No maximum
Minimum Entry Age 17
Maximum Entry Age

79 – level or decreasing cover

59 – index linked cover

Guaranteed insurability option


Marriage or civil partnership

Birth or adoption of a child

New or increased mortgage

Salary increase

Divorce or dissolution of civil partnership

Policy Exclusions Suicide with the first 12 months of the life of your policy

Do YOU need advice from Black Lion Insurance?

Life insurance is designed to pay out a cash lump sum to mitigate any financial difficulties that your loved ones may experience after your death, or if you develop a critical illness.

There are no restrictions on how your family may use the money.  Perhaps they would pay off the mortgage or fund everyday living expenses.  The choice is theirs.

As you can see, Liverpool Victoria life insurance offers a good range of additional benefits but as with all insurance, it’s well worth talking to the experts here at Black Lion Insurance rather than trying to find the best insurance cover yourself.

Why do we say that?  Because we have access to all the major providers and can compare and contrast each provider up against your needs and requirements.  There are a number of options to consider, and all of them will impact what the policy covers and how much it costs.  And, that can be confusing.

We’re holistic, whole of market insurance consultants and can find and recommend the right policy for your circumstances and your lifestyle.  Should the worst happen, robust insurance cover is your vital lifeline and safety net.  So, is Liverpool Victoria life insurance your ideal choice?  Give us a call to find out more.

Enjoy 3 Months' FREE cover

Fill in the form on this page with the code BL3MF to qualify for THREE MONTHS’ FREE COVER when you set up your Life Insurance policy with us.

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About Us

Part of Halo Consulting, Black Lion Insurance are a dedicated team of insurance consultants with years of experience in guiding our clients to a solution that meets their specific needs. We specialise in helping both employed and self employed individuals, as well as business owners on a variety of solutions, which range from life insurance, income protection insurance, keyman insurance and shareholder protection insurance.