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Liverpool Victoria Income Protection

Flexible Protection Plan



Company Type

Friendly Society

Company Overview

Liverpool Victoria are the UK’s number one provider of individual Income Protection and one of the top providers of financial services.

Liverpool Victoria Income Protection review

Since they started out, selling Life Insurance at the cost of only a penny per month, they have grown to acquire over 5.8 million customers, 1.1 million of which are members.

LV Income Protection products range from comprehensive to low cost, with their standard Income Protection policy offering highly flexible cover.


LV Guaranteed Income Protection key facts   LV Guaranteed Income Protection policy terms and conditions

Get 2 Months FREE Cover

By reaching this page you are eligible for two months FREE cover when you set-up your new Income Protection policy.

Simply fill in the form on this page to apply your two months free discount and get your instant quotes or call us on 02084327333 and state the code VC2MF.

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Overview of Liverpool Victoria Income Protection Insurance

Liverpool Victoria Income Protection Overview

 Liverpool Victoria is one of the leaders in the Income Protection market, combining a straightforward product with clear literature and competitive premiums.

LV’s Income Protection uses an Own Occupation definition of incapacity.


In order to apply for Liverpool Victoria’s Income Protection, you must be permanently living in the UK, a UK resident for a minimum of 2 years, and be registered with a UK doctor for at least 2 years.


LV offers a guaranteed benefit of £1,500 with their Income Protection policy if your salary decreases.


LV Income protection automatically includes fracture cover, which pays out a lump sum up to £2,200 in addition to your usual benefits. This benefit can be used even if you’re not making a claim.


LV’s policy includes death benefit, which pays out a lump sum of up to £10,000.

LV's Income Protection does not have Day 1 deferred periods available.

The shortest deferred period they offer on this policy is 1 month.

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LV's Income Protection Insurance conditions

LV Income Protection Policy Conditions

Overview of Key Policy Details

Policy Type

Income Protection

Premium Type

Guaranteed or Reviewable

Maximum Claim Duration

Unlimited (to the policy cease age or the policyholder’s death)

Incapacity Definition

Own Occupation

Deferred Period

1 month / 2 months / 3 months / 6 months / 12 months


Maximum annual increase of 12%.

Waiver of Premium

Not Included
Waiver of premium can be taken out separately.

Maximum Cover

60% of your annual income before tax.
Maximum benefit of £12,500 per month.

Minimum Entry Age

17 years old

Maximum Entry Age

59 years old

Minimum Policy Term

5 years

Maximum Cease Age

70 years old

Guaranteed Insurability

  • Increase in salary
  • Mortgage increase
  • Marriage or civil partnership
  • Childbirth or adoption


Policy Exclusions

No standard exclusions

We have taken care to ensure that the information on this Drewberry owned website is accurate. However we can give no guarantee as to the accuracy of the content of the site. We accept no liability for any losses whether direct or indirect arising from errors on our part.

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Drewberry reviews LV Income Protection policies.

Drewberry’s LV Income Protection Insurance Review

While guaranteed premiums are typically the recommended option depending on your circumstances, LV also offer reviewable premiums.

Key Comparison Points

  • LV’s Income Protection offers own occupation cover to all policyholders, which mean that you will be able to claim as long as your injury or illness prevents you from being able to carry out your duties in your specific occupation.
  • This policy has special conditions for teachers and medical professionals. This includes increased benefits, sick pay mirroring and adjusted definitions of incapacity.
  • LV will allow you to claim on your policy as usual if you are in a country that is specified in your policy. If you are not in any of these countries and are elsewhere outside of the UK, LV will allow you to claim Income Protection benefits for a maximum of 26 weeks unless you return to one of the specified countries.

Additional Benefits

Fracture Cover

LV includes Fracture Cover with its Income Protection policies to cover specific fractures. This benefit pays out a lump sum that you will receive in addition to your usual benefits. The amount you receive will depend on the type of fracture, with the maximum payout being £2,200.

Return-to-Work Benefit

If you are recovered enough to return to work but only on a part-time basis, or if you aren’t well enough to return to your occupation and instead take a different job with a reduced salary, LV may continue to pay a benefit to top up your reduced income to pre-incapacity levels.

Unemployment Payment Holiday

Included as standard, this benefit allows you to stay covered by your Liverpool Victoria Income Protection while you’re unemployed. Your cover will last for up to 6 months of being redundant and you will not need to pay your premiums during this time.

LV Doctor Services

Once you are an LV member, you will be able to use LV’s Doctor Services which you can access either through a specially provided app or by telephone. These services include convenient access to private prescriptions, remote GP services, and contact with doctors and specialists for a second medical opinion. You can use these services for yourself or for your children up to the age of 16.


Financial Strength

In 2016, LV’s operating profit from trading operations was £20 million. The group capital surplus on a Solvency II Standard Formula basis was also estimated at £367 million.

In 2017, LV’s net earned premiums reached £2.2 billion and they were given an AA+ rating by Brand Finance for their brand strength.

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They were patient thorrgh and good value for money. I regret not using them before and I will use them again in the future.

Edward Brampton

Liverpool Victoria Income Protection: FAQs

Sam Barr-Worsfold, Independent Insurance Expert at Drewberry

We aim to know the policies we advise on inside out and back to front. Below, we have answered a couple of commonly asked questions with regards to the policy coverage of Liverpool Victoria’s Income Protection.

If you need any further help, please do not hesitate to call us on 01273646484.

Sam Barr-Worsfold
Independent Insurance Expert at Drewberry

Q. In which countries will LV allow me to claim on my Income Protection policy as normal?

A. If you are travelling abroad in any of the following countries and need to make a claim, LV will pay your claim while you’re abroad after your waiting period:

Australia; Austria; Belgium; Bulgaria; Canada; Channel Islands; Cyprus; Czech Republic; Denmark; Estonia; Finland; France; Germany; Gibraltar; Greece; Hungary; Iceland; Ireland; Isle of Man; Italy; Latvia; Lithuania; Luxembourg; Malta; Netherlands; New Zealand; Norway; Poland; Portugal; Romania; Slovakia; Slovenia; Spain; Sweden; Switzerland; UK; and USA.

If you are travelling in any country outside of the ones mentioned, your cover will be reduced to a maximum of 26 weeks. If you return to one of the covered countries within these 26 weeks, you will be able to claim as normal from then on.

Q. How much can I increase my cover by if I have received a significant pay rise?

A. Salary increases are included in your guaranteed benefits, so you will not need to resubmit any medical information if you want to increase your Income Protection benefit. If you have received a salary increase of at least 10%, you can increase your cover by as much as 50% of your original benefit. You can do this once every three months.

If you have an increase in salary of at least 20% (or you would like to match your cover to match several salary increases that you’ve had since the start of your policy), you can use the ‘significant career progression’ increase option.

This will allow you to increase your cover up to a maximum of an additional £20,000 per year. This option can only be used once during the term of your policy and only applies if you are not self-employed, nor a director or partner in the company you’re employed by.

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Other Liverpool Victoria Income Protection Products…

Budget Income Protection
Personal Sick Pay

Accident & Sickness

Accident & Sickness

2 years Maximum Claim Term

Unlimited / 2 years Maximum Claim Term

Own Occupation

Own Occupation

Guaranteed / Reviewable Premiums


Policy Terms PDF Key facts PDF
Policy Terms PDF Key facts PDF
We have taken care to ensure that the information on this Drewberry owned website is accurate. However we can give no guarantee as to the accuracy of the content of the site. We accept no liability for any losses whether direct or indirect arising from errors on our part.
Compare Top 10 UK
Takes approx. 60 seconds
Type of Policy
Income Required
Date of Birth

Frequently Asked Income Protection Insurance Questions

Is it possible for income protection insurance premiums to be paid for...
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4.92 / 5 Average
1398 Reviews
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Very supportive and helped to choose effective product.
S Cutter
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Very professional and easy to deal with. Jake treated me like a human being and made me feel like a valued customer.
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Applied for an income protection plan and owing to medical condition had to make a few changes and Victoria from drewberry was really helpful
P Monaghan
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Courteous, prompt and clear service
D Lewis
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I was having trouble finding a suitable income protection policy online and was unclear about what I should be looking for, so I contacted Drewberry. The process was very quick and straightforward. They called me and explained how this type of insurance works, and then went through series of questions about my circumstances to try and find the right cover for me. They came back to me the next day with several suitable options and emailed all the relevant information clearly laid out. Michael Barrow, the advisor I spoke to, was happy to explain things in detail and answer any questions I had. I would definitely recommend Drewberry as they took all the hassle out of a confusing search.