LV’s last annual report year ending December 2010 says their vision is to be
‘the UK’s leading protection and retirement solutions specialist’ and deliver above market growth and member
returns. During the year they saw a 73% growth in their 50 Plus new business APE. This was helped by their partnership with
ASDA for the sale of 50 Plus protection.
The LV 50 Plus Plan
offers
Guaranteed cash lump sum for your loved ones or to help
towards funeral expenses.
No medical or health questions.
Full cover after one year (If you died before this they would pay
you the amount paid into your policy) and after your 90th birthday the cover continues but you won't have to pay any more
premiums. Premiums from £5 to £50 a month available online.
Maximum of £25,000 of cover available
Your amount of
cover is fixed when your plan starts but remember over time inflation will reduce the value.Free Gift – Choose from a DAB radio or the digital photo frame or choose £30 worth of
Marks & Spencer vouchers.
Guaranteed acceptance if you're
aged 50 to 80 and a UK resident.
Get an extra 10% with their
funeral benefit option.*
You can cancel your plan at any time
by contacting them although if you do you will lose all your cover under the plan, and you won’t
get anything back because your plan is a ‘whole-of-life plan’ which means that as long as you pay all premiums
due, your plan continues until you die.
By selecting the funeral benefit option in your 50 Plus application, you can help your
family even more by getting an extra 10% on top of your amount of cover. So for every £1,000 of your amount of cover
that is used towards funeral costs, you could get an extra £100 (up to a maximum of £1,000). Money is set aside
to pay towards the cost of your funeral. The average cost of a basic funeral in 2012 in the UK is £3,122.
