LV Life Insurance Reviews Updated For 2024

Elaine Brookes Steve Case

Author: Steve Case - Insurance Expert

Reviewed & Fact Checked By: Elaine Brookes

Updated: 13th February 2024

liverpool victoria life insurance reviews

In 2007, Liverpool Victoria rebranded their company name to use LV=. The LV= brand is a visual play on the word ‘love’, and it’s the shorter LV= name they use for all advertising. The company name, however, remains Liverpool Victoria.

Most trusted online reviews indicate positive customer experiences with Liverpool Victoria Life Insurance.

These lv life insurance reviews include:

  • An 80% above average rating on
  • Scoring 9.1/10 on independent review site Reevoo
  • A score of 4.62/5 on
  • 62% of reviews recommending LV= on

Interested In LV= Life Cover? Compare It To The Leading Life Insurance Companies Below

lv life insurance reviews
  • Our price match promise means we will find you the right cover for your personal circumstances at the lowest price possible. Terms & Conditions and Privacy Policy

Features Of LV= Life Insurance Include:

  • Coverage starts at just £5 per month
  • Offers both level-term and decreasing-term life insurance options
  • Inclusion of terminal illness coverage without additional charges
  • Complimentary access to medical services through LV= doctors
  • A successful payout rate of 96% for LV= life insurance claims in the year 2023
  • Opportunity to obtain free e-gift vouchers worth up to £250 (subject to terms and conditions)
lv life insurance quote

LV= Liverpool Victoria Life Insurance Reviews

Reviews of Liverpool Victoria online are varied, mainly due to LV= being both a specialist provider catering to retirement financial services and providing general insurance that meets the needs of everyone.

Liverpool Victoria is a long-established insurance specialist that started in Liverpool in 1843 with life insurance policies for just half a penny.

As the firm expanded, it relocated several times, once to Liverpool, then to London, where it served the financial needs of servicemen and women throughout the war.

The company grew leaps and bounds in 1996 when it acquired the Frizzell Group, relocating to Bournemouth, UK, which is now where the UK head office is based.

Reviewing reviews to find where things are lacking shows that customers get better quotes on general insurance products using comparison websites for the first year, after which premiums increase.

This is the same among many general insurance products, which doesn’t apply to life insurance specific to any age group as premiums are fixed from the start date for the policy term.

As LV= uses a variety of independent insurance brokers as distribution channels for their retirement planning products, customers buying life insurance policies are more informed, leading to a better customer experience.

LV= Life Insurance Options

LV= offers various life insurance policies suitable for all age groups from 17 to 79 years of age.

Types of Life Insurance from Liverpool Victoria include:

Level term life cover

On a level term life insurance policy, you can choose the amount of cover you need and the term you need the policy to cover.

This type of plan is suitable for those wanting to ensure there is a fixed amount of money left to beneficiaries, which can be used to pay off existing debts, funeral expenses, or to repay what’s remaining on a mortgage.

Level term policies can be arranged from 5 to 45-year terms.

Decreasing term life cover

On a decreasing term policy, monthly premiums are fixed, but the amount of money the policy pays out decreases in value each year.

These are suitable for those with capital plus interest mortgages or any debts being repaid regularly, as the amount you owe will reduce yearly.

This type of policy won’t be suitable for interest-only debts with no capital being repaid.

As with the level term cover, a decreasing life insurance policy can be arranged for terms of 5 to 45 years.

Single and joint policies are available

LV= life insurance cover can be arranged as single person cover or joint life insurance policies. A joint application is not always required for couples, as two people can have separate life insurance policies.

The difference in the policy terms is that on a joint life insurance policy, the plan pays out on the death of either person, after which the survivor would not be covered.

The coverage would continue for the remaining survivor on two separate life insurance policies, as the policy is based on one individual.

A joint life insurance policy will be more affordable but only pay out once, and then cover ceases.

Critical illness cover

LV= offers critical illness cover on all life insurance plans as an optional add-on.

As of 2024, Liverpool Victoria covers a total of 63 illnesses with their critical illness, making them among the market leaders for this level of coverage as many insurance firms cover fewer conditions.

Help Protect Your Family’s Future, Compare Top Insurers. Find Your Cheapest Quote

  • Our price match promise means we will find you the right cover for your personal circumstances at the lowest price possible. Terms & Conditions and Privacy Policy

lv critical illness

A total of 43 conditions, including various cancer types, heart conditions, and strokes, will pay the full amount of cover.

When a policyholder is diagnosed with a critical illness covered, the plan pays 100% of the cover amount, and then the cover stops.

A further 20 less serious conditions, such as carcinoma-in-situ and Diabetes mellitus type 1, may qualify for a partial payment. If a partial payment is made, the life insurance cover continues.

In addition to the 63 covered illnesses, LV= also pays enhanced payments of 150% up to a maximum claim of £200,000 for six neurological disorders.

These include Alzheimer’s Disease, Motor Neuron Disease, Multiple System Atrophy, Parkinson’s Disease, Parkinson’s Plus Syndromes, and Progressive Supra-Nuclear Palsy.

A further ten full payment conditions with a possible 200% payment above the insured amount can be paid in the event of permanent disability due to a major accident.

Critical illness cover is automatically included for children up to their 21st birthday. If you add critical illness cover to your life insurance, the maximum term you can take cover for reduces from 45 years to 40 years.

Income Protection

Income protection is another add-on customers can choose to include in their life insurance cover. This can cover monthly bills if you cannot work due to long-term sickness.

LV= Doctor Services Included at No Extra Cost

LV= has partnered with Square Health to provide expert medical advice to all customers at no additional cost. The cover includes:

Remote GP advice

This service provides up to five consultations over the phone or via video conference.

Second Opinion Service

If you’re diagnosed with any illness, you can use the LV= Doctor Services to access medical experts to discuss your condition and treatment options.

Private Prescription Service

This service lets you get prescription medication without waiting to see your GP.

Remote Physiotherapy

Up to five remote physiotherapy sessions with a certified physiotherapist are included each year. These can help diagnose and treat common pain conditions such as back pain or muscle or joint pain following a sports injury.

Remote Psychological Services

This gives you up to five consultations annually for expert mental health advice and treatment, such as cognitive behavioural therapy and counselling.

25% discount on Health MOT services

A health MOT service is provided through the Square Health Service with a 25% discount for LV= policyholders.

This can be used to assess your current health and provide detailed guidance on preventative measures you can take through exercise, nutrition, and stress management, letting you understand your body better and giving you the steps to take to better your health.

Important Criteria for LV= Life Insurance

  • Applicants must be UK residents
  • Be aged between 17 and 79 years old
  • Plans have a maximum term of 45 years without critical illness and 40 years with critical illness cover. The maximum terms available must finish before your 85th birthday. As an example, if you’re aged 55 at the time the policy starts, the maximum term will be 30 years regardless if the critical illness is included or not.
  • Medical information must be accurate for the policy to be valid. Your GPs contact details and permission for your Doctor to share your medical information may be required to verify your current health conditions. Existing diagnosed conditions may or may not be included in policies.

LV= Life Insurance Statistics

LV life insurance payout statistics from 2024 were honoured in 95% of claims totalling £27.5m, with the majority being paid within two working days of a final decision being made by the claims department.

Customer service and processing are fast, with experienced claims handlers always a phone call away to make the claims process as easy, swift, and hassle-free as possible.

People looking for LV life insurance reviews sometimes wish to speak with the insurer directly, so please feel free to use the points of contact below.

Further in-depth life insurance comparisons covering a broad range of insurers should also be considered before deciding upon one specific company.

LV= Liverpool Victoria Contact Details

Address: Liverpool Victoria, County Gates, Bournemouth, BH1 2NF, UK

LV Life Services Limited is registered in England, number 4330120 and is authorised and regulated by the Financial Conduct Authority, number 423622.

Telephone: 0800 678 1906

Opening Hours: 9 am – 8 pm Monday to Thursday, or 9 am – 5 pm on Friday