LV 50 Plus Plan - Guaranteed Life Insurance Cover for the Over 50s
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LV 50 Plus Plan - Guaranteed Life Insurance Cover for the Over 50s
The LV 50 Plus Life Insurance Plan from Liverpool Victoria is designed to provide suitable cover for people over the age of 50, and in the process offer peace of mind that their loved ones can cope financially in the event of the policyholder’s death.
| LV 50+ Plan Example Age Next Birthday: 55 |
|||
|---|---|---|---|
| Sex | Premium | Amount of Cover | |
| F | £10 | £3,005 | |
| M | £10 | £2,310 | |
| F | £20 | £6,669 | |
| M | £20 | £5,126 | |
| F | £30 | £10,334 | |
| M | £30 | £7,943 | |
| F | £40 | £13,998 | |
| M | £40 | £10,759 | |
| F | £50 | £17,663 | |
| M | £50 | £13,576 | |
- Premiums are between £5 and £50
- Guaranteed Life Cover - no medicals required
- Cancelling at any time will get you nothing back
- 30 day right to cancel
- Cannot place policy in trust
The plan is designed to provide a guaranteed payout on death after the first 12 months. However, this plan has no cash in value at any time and if the policyholder dies within the first 12 months the plan may only pay out the premiums that have been paid by the policyholder (depending on circumstances) without interest.
It is also important to remember that the total amount of premiums the policyholder will have to pay, which depends on how long they live, may end up being greater than the cash sum paid in the event of their death.
Premiums for the LV 50 Plus Life Insurance start from £8 per month and can easily be arranged online. Applicants also receive a free gift upon joining with LV.
LV 50+ Rules
- UK residents up to age 80
- Not available if you live on the Channel Isles or Isle of Man
- Lump sum paid to your estate when you die
- You pay premiums to age 90 but cover continues until you die
- The policy will remain in place until the person covered passes away, then it will end
- If you pay more in than the cover amount your estate will get the extra
Payment from this insurance plan will usually go to the policyholder’s estate, which may be subject to Inheritance Tax. Such tax levels depend on the applicant’s personal circumstances and are subject to change.
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