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LV ending my policy - letter received
Lifes_Grand_Plan
Posts: 1,104 Forumite
Hi folks, came back from holiday today to a strange letter today from LV. Letter says that my "LVLP policy" (assume this is life insurance) will be ending on 7th January 2022. Only reason given is "Due to the type of policy this is, we won't be able to renew it so please contact your financial advisor to find out about what other types of cover may be available to you".
Anyone else had similar and know what it's about? Tried calling them but they're now closed for weekend.
Anyone else had similar and know what it's about? Tried calling them but they're now closed for weekend.
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We have LV policies but have not received anything. At least not yet.
Make sure you contact them and sort it though - the current proposal to change from a friendly society to a something else may mean you lose out on a payout when things change as you need to be a member.
I'll be interested to know more so please post when you find out more.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Probably a life assurance, critical illness cover or income protection policy (or combo). These are set up for fixed terms and expire on a given date. You cannot renew them (caveat - it was possible to buy renewable policies a long time back but they are rare and most people are on a fixed term).
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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