LV=Life insurance is a term assurance plan and is designed to pay a lump sum if you die. The maximum cover you can have is £500,000 depending on your age. You could use it to protect a mortgage or other loans. You could also use it to help provide financial security for your dependants.
It does not have a cash in value and doesn't pay out at the end of the selected term.
There are some risks associated with this product, you should read the risk section of the Key Features Document to ensure this product is right for you. Get financial advice if you are not sure.
LV= Life insurance is for UK residents aged 17-69 years of age who are in good health. If you don't meet these criteria, Standard Life Direct can offer you access to other plans that may suit you better.
This cover is designed for you if you're a first time buyer, moving house or remortgaging. The amount you owe on a capital and interest repayment mortgage will go down over the years. So, your cover decreases each month, using a monthly interest rate of 7%. The cost is averaged out over the term of your plan - you pay the same amount for your cover each month.
The plan does not however guarantee to repay the mortgage or loan in full.
Looking to provide your family with a fixed lump sum if you die? Level cover could be the answer – and your monthly payments and amount of cover are fixed for the term of your plan. This means it won't keep up with inflation.
To take out this plan you need to be a UK resident and aged between 17 to 69.
