Liverpool Victoria Life Insurance Info
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Liverpool Victoria  Life Insurance
  • £150,000 cover from £5.74 per month*
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Life insurance lets you leave a lump sum behind should you pass away within the policy term.

Money never replaces a family member, but it can help knowing that it won't be a worry.

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Liverpool Victoria Life Insurance Info

Liverpool Victoria Friendly Society Limited was founded in 1843 as a burial society and, for many decades, Liverpool Victoria was most commonly associated with "penny policies" collected door-to-door by a cross-country team of agents to offer a method of saving to people of modest means.

Liverpool Victoria Friendly Society Limited was deregistered as a friendly society on 2 January 2020 as part of the acquisition by Allianz of its General Insurance division. Allianz is now the sole shareholder of Liverpool Victoria Insurance Company.

Liverpool Victoria offers services directly to consumers, as well as through IFAs and insurance brokers, and through strategic partnerships with organisations such as ASDA, Nationwide Building Society and some trades unions

At the start of 2015 Liverpool Victoria was ranked in a survey called the UK Institute of Customer Service Satisfaction Index (UKCSI) as the best insurance business in the UK for customer satisfaction and seventh best across all UK businesses, with only one other insurer in the Top 50

Liverpool Victoria are one of the UK's largest personal lines insurers, with more than 5.5 million customers and 3,500 employees.

In 2017 they became the Liverpool Victoria General Insurance Group (LVGIG) and announced a Strategic Partnership with Allianz Holdings PLC which completed in December 2019. Allianz are now their sole shareholder and Liverpool Victoria have seperated from the Friendly Society.

In January 2020 Liverpool Victoria acquired Legal & General’s general insurance business (L&G GI) L&G GI is predominantly a home insurance business, with more than 2 million customers. They have around 850 employees based in Birmingham. The Birmingham office will be part of a multi-site presence in the UK.

Liverpool Victoria were voted Most Trusted Life Insurance Provider in the Moneywise Customer Service Awards 2013-2019

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Liverpool Victoria Life Insurance Offers

Life Protection

Protection is provided by Liverpool Victoria Friendly Society Limited, which is part of Liverpool Victoria .

Available to UK residents aged 17 to 79

You can choose the length to run between 5-45 years, but the policy must end before your 85th birthday

Can I apply?

You can apply if you are:

permanently living in the UK and aged between 17 and 79 if you choose level cover or decreasing cover, or aged between 17 and 59 if you choose inflation-linked cover.

If you’re insuring someone else, they must meet these requirements. If you’re insuring two people, they must both meet them.

You can only insure someone else if you would suffer financially on their death, or if they were diagnosed with a terminal illness. We call this having an ‘insurable interest’.

If you’re insuring your spouse or civil partner, you automatically have an insurable interest.

How much cover can I have?

There’s no minimum or maximum amount of cover, there is only a minimum premium. You can choose the amount of cover that you need.

What types of cover can I choose?

You can choose:

Liverpool Victoria Level cover - This means the amount of cover and the premium you pay are fixed when your policy starts, and doesn’t change.

If you choose Liverpool Victoria level cover, it won’t keep up with inflation, and will buy less in the future.

Inflation-linked cover - This means that your amount of cover will go up each year in line with inflation.

The premium will increase in line with inflation multiplied by 1.5. This may be shown on your personal quote as increasing amount of cover, or index-linked amount of cover.

Liverpool Victoria Decreasing cover - This type of cover is specifically designed to cover the reducing amount owed on a capital and interest repayment mortgage. The amount of cover will go down each month, but the premium you pay is fixed when your policy starts and doesn’t change.

Can Liverpool Victoria change the premium I pay?

No. Your premium is guaranteed. This means we won’t change it unless you ask us to change your policy or, unless you have chosen inflation-linked cover.

If you have inflation-linked cover your cover will increase by inflation each year and your premium will increase by inflation multiplied by 1.5. The only other time your premium may change is if there is a change in legislation which affects your policy.

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Liverpool Victoria  Life Insurance Rates

Critical Illness Cover

Critical illness cover is a type of insurance that pays out a tax-free lump sum if you're diagnosed with, or undergo surgery for, a critical illness specified in the terms of the policy. Tell me more...

Liverpool Victoria  Life Insurance Calculator

Mortgage Protection

As you pay off your mortgage over time, the amount of life cover you would get if the worst were to happen goes down – just as the outstanding balance of your mortgage does. Tell me more...

Liverpool Victoria  Life Insurance Quotes

Over 50s Life Cover

Taken out between the ages of 50 and 80, paid out as a lump sum and can be used for financial commitments when you pass away, such as funeral costs, outstanding bills. Tell me more...

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How much life insurance do I need?

The amount of life insurance you take out should ideally be enough to cover your mortgage repayments and the needs of your family if you were no longer around. The average cover amount is £140,000.

Do you need life insurance to take out a mortgage?

Life insurance isn’t a legal requirement, but most mortgage lenders will ask you to take out appropriate cover. You don’t need to take out life cover from your lender – you can buy it elsewhere.

What will life insurance cost?

The cost of life insurance can be as little as £5 per month, but your premiums will depend on your individual needs and circumstances, your age, if you smoke could affect the overall cost.

Do I need life insurance?

Life insurance is for your peace-of-mind, so you know your family will be financially protected in the event that you're no longer around. Life insurance is a form of security to provide for dependants such as children or spouses.

What is term insurance?

Term insurance is the most common type of life insurance and pays out only if you die within the term. For example, you might take out a 25-year policy so your family could claim if you were to die within 25 years.

When should I buy it?

Whatever your age, as an adult it’s always a good time to start thinking about life insurance. In particular, people with loans, mortgages and financial dependants should consider getting a life insurance policy.