LV= 50 Plus plan
Life insurance cover especially for the over 50's - with no medical required!
You can make a real difference by giving your loved ones extra peace of mind. The 50 Plus plan from LV= could help to pay towards funeral expenses or perhaps could help by leaving a legacy for your family. Don't forget that inflation will reduce the buying power of the cash sum you choose.
Premiums start from £5 per month and you are guaranteed to be accepted for life insurance as long as you are a UK resident aged 50 to 80 when your policy starts. There are no medical or health questions. From the plan anniversary on or after your 90th birthday you don't pay another penny but the cover will continue for the rest of your life. Depending on how long you live, the total amount of premiums you pay, may be greater than the cash sum paid in the event of your death.
LV= 50 Plus plan at a glance:
- Guaranteed acceptance as long as you are a UK resident and are aged 50-80 at the start of the policy.
- No medical or health questions.
- Premiums start from £5 a month. Depending on how long you live, the total amount of premiums you pay, may be greater than the cash sum paid in the event of your death.
- Guaranteed pay out on death. However, if you die within the first 12 months, depending on the circumstances, LV= may only pay out the premiums you have paid, without interest.
Please note that this protection plan has no cash in value at any time.
Payment from this plan will normally go to your estate which may be subject to Inheritance Tax.
Inheritance Tax could apply to the part of your estate that is worth more than £312,000 (correct for 2008/09 tax year). See the Policy Summary for more details.
Tax treatment depends on your personal circumstances. Please refer to the Policy Summary for details of how benefits from your plan will be taxed. Any references to taxation are based on our understanding of HM Revenue and Customs practice, which is subject to change
Please note that this information should not be considered as advice to take out this plan. It is up to you to decide whether the plan is suitable for you. Should you have any doubt about whether it is suitable you should contact a Financial Adviser.
Next steps:
LV= are able to provide literature and communications in the following alternative formats: Braille, large print, audio tape. Should you require information on this product or service in any of these formats, please contact us.
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