LV Over 50 Life Insurance Review

  • Premiums start from £7 a month

  • Full cover after just 12 months

  • Monthly payments stop after your 90th birthday

The LV guaranteed over 50 life insurance plan is known as the ‘LV 50 Plus Plan’; a whole of life insurance policy that pays out an agreed cash sum when you die. The company carries out regular customer service reviews to ensure its commitment to quality, all of which are available publicly online making the process reassuringly transparent. 


The LV Over 50 Life Insurance Review is a guide to help you understand the features and benefits of the plan, options available and things to consider. Do make sure you read, understand and are happy with the terms and conditions of any plan you decide on.

Why Choose the LV 50 Plus Plan

  •   Guaranteed to pay out a cash sum when you die

  •   Full cover after an initial period of 12 months

  •   Acceptance is guaranteed regardless of any health issues

  •   A simple, quick application process with no health questions or medicals

  •   Cover from £7 to £50 a month

  •   A minimum pay out of £1,000 of life cover 

  •   Available to UK residents between the ages of 50 to 80

  •   Fixed monthly payments that never go up

Free Funeral Benefit Option

50 Plus Funeral Benefit Option - A free option that could increase your life cover by 10%.

 

You agree for the cash sum to be paid directly to Dignity, one of the UK’s leading funeral service providers and as a thank you for choosing the LV funeral benefit option get 10% more life cover (up to the maximum free life cover level of £1,000).

 

When the time comes, the money is used to help pay for Dignity funeral services and in addition, your family will receive advice and guidance on all aspects of the funeral.

 

Depending on the cash sum paid out, your family may still need to pay some of the funeral costs when the time comes. Alternatively, if the life cover paid out is greater than the funeral costs, any remaining balance will be paid to your estate

 

Get a Quote

 

 

Things to consider

  • Depending on how long you live, there is a chance you could pay more in premiums than the cash sum paid out.
  • You need to continue paying your premiums until your 90th birthday. If you stop paying your monthly payments, your cover will cease and you won’t get anything back.
  • Your premiums and the amount of cover paid out are fixed; therefore inflation will reduce the value of the cover.
  • If you die in the initial 12 month period, the full cash sum would not be paid out however all premiums paid would be refunded.
  • Payment is usually made to the estate and therefore could be subject to inheritance tax.
  • There is a maximum cover level of £25,000

LV's Partners

In addition to the LV over 50 life insurance plan, LV= also provide guaranteed life cover for ASDA known as ‘Asda Over 50s Life Cover’.

The Asda over 50 plan is very similar to the LV branded plan with cover starting from £5 a month. There is a capped option which starts from £15 a month that ensures you never pay more in premiums than the cash sum paid out but levels of cover do tend to be lower.

Additional LV Perks

When you buy an LV over 50 life insurance plan you become an LV= member which means you are entitled to additional benefits such as:

- Discount on LV car insurance, home, pet and travel insurance

- Access to their 24 hour member care line

LV Over 50 Life  Insurance Quotes  

  

 

LV

From £7 a month

LV Over 50 Life Insurance plan

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