Liverpool Victoria improve their Critical Illness and Income Protection Cover

Request a Callback

By clicking on submit I / We give consent for you to call me / us on the number provided to discuss my / our financial requirements.

Caring - Understanding - Reliable - Advice

Home » Guides & News » Liverpool Victoria improve their Critical Illness and Income Protection Cover

LV have updated their Income Protection cover to provide ‘own occupation’ definition to all new customers.

Their new stance will mean that if you are accepted for Income Protection cover with them you will automatically have an ‘own occupation’ claim definition; this used to be restricted to low risk occupations. The development means that a whole new set of clientèle have the opportunity for the best (own occupation) definition of Income Protection available. This includes but is not limited to police officers, scaffolders, cleaners and HGV drivers.

Example Income Protection costs for a police officer with a claim period to age 60:

Age	Sum Assured	Premium*
20	£1,500.00	£43.95
30	£1,500.00	£65.52
40	£1,500.00	£109.59
50	£1,500.00	£162.01

As well as this LV Income Protection has the added advantage that you can choose a 2 year claim option on the policy, which could see your premiums for cover being 40-60% lower than those shown above. The LV policy can offer you Income Protection up to the age of 70 if you want to extend the cover further.

LV have also used recent months to review their Critical Illness Cover and have made distinct changes to better their policy. LV have enhanced the full payment definitions for claimable illnesses, most notably so for heart attacks. Most critical illness contracts require that a heart attack be registered at a certain severity (based upon recorded troponin levels) in order to make a claim, as not all heart attacks are seen as “serious”.

However LV have moved away from this mindset allowing a full payment on any diagnosis of a heart attack regardless of severity. Further still they have broadened the illnesses you can make partial payments claims for to 20 conditions, to a maximum payment of up to £25,000.

The integrated childrens cover has also been extended to age 21 and congenital conditions are now included in the claimable policy set.

These improvements have set the LV Critical Illness Cover and Income Protection contracts ahead of many of their competitors, who may soon be following suit to keep up with these advantageous changes.

We use a range of providers/insurance companies and their products may be more suitable for your needs. Please speak with one of our insurance advisers on 0800 567 7450 who can assess your circumstances and place you with the correct insurer for your needs.

* Based upon research conducted on 3rd April 2014

Categories: Critical Illness Cover, Income Protection

Client Reviews

Liverpool Victoria improve their Critical Illness and Income Protection Cover

"Alan and his team were great! Alan helped get me cover where my own company could not (I work in financial services too!) Would highly recommend and will come back in the future."

"Krystle was fantastic throughout and managed to knock almost 50% off my current life insurance premium."

"Leanne couldn't have been more helpful and thoughtful with her questions and work on my enquiry."

"Kathryn and her colleagues were very helpful because of my recent illness."

"Nick was my advisor, Excellent knowledge of products and what I needed, not just pushing me into a sale/policy, will always refer to him in the future."

"I would like to say a very big thank you especially to Amy you really went above and beyond."

"Annaliese was absolutely fantastic, making us both feel at ease and helping us navigate issues that had caused us problems with previous attempts to obtain insurance."