LV= business protection review
LV= (Liverpool Victoria) is an established UK mutual founded in 1843, well known for income protection. This is our independent review of its business protection range.
Who is LV=?
LV= offers business protection across relevant life, key person, business loan and shareholder protection, and is a strong name in executive income protection. As a mutual, it is owned by its members. In 2024 it paid 95% of individual protection claims. Tax treatment depends on individual circumstances and may change.
2025 was a record year: LV= paid almost £152 million across individual protection claims, supporting more than 8,000 people and their families, again at 95% of all claims. Protection policies also include LV= Doctor Services at no extra cost.
What business protection products does LV= offer?
LV= covers company-paid protection for directors and key people alongside personal policies, with a dedicated executive income protection plan at the heart of the range. Filter the range or swipe through the cards.
Relevant Life
Potentially tax-efficient death-in-service cover paid by the company for an individual employee or director, written in trust.
Relevant Life guides →Key Person Insurance
Helps protect the business against the financial impact of losing a key employee. Life, or life with critical illness.
Key Person guides →Business Loan Protection
Helps the business repay an outstanding loan if a key person dies. Life, or life with critical illness.
Business Loan guides →Shareholder Protection
Helps remaining shareholders buy a deceased shareholder’s shares, alongside a suitable agreement.
Shareholder guides →Executive Income Protection
Company-paid income protection for a director, with the premium treated as a business expense, subject to terms.
Executive IP guides →Life Insurance
Pays a lump sum (or monthly income) to loved ones if the insured dies or is diagnosed with a terminal illness during the policy term.
Caspian Insurance →Critical Illness
Pays a lump sum on diagnosis of a covered condition, subject to the policy terms.
Caspian Insurance →How reliable is LV= at paying claims?
LV= paid 95% of all individual protection claims in 2025, almost £152 million across life insurance, critical illness and income protection, supporting more than 8,000 people and their families. Life claims were paid at 98%, worth more than £80 million to over 5,500 families, and critical illness claims at 90%.
The income protection pedigree shows in the detail: £18.1 million was paid in income protection claims to more than 1,100 people, the average claim runs for five years and ten months, and the longest claim in payment has been running for 34 years and six months. LV= is also a signatory to the Protection Distributors Group Claims Charter, which sets standards for claim speed and support.
A strong claims record is reassuring context, not a guarantee. LV= is open that the 5% of claims it declined were primarily due to misrepresentation or non-disclosure at application, such as smoking status or medical history, which is why accurate answers at application matter so much.
How do independent ratings score LV=?
No single score tells the whole story, so we pull together the main independent measures and state what each one actually covers.
85,000+ reviews, covering the whole group rather than business protection alone.
Read LV=’s Trustpilot reviews →5 Star rated across five protection products: level and decreasing term life, level and decreasing critical illness, and income protection. Defaqto rates product features rather than service quality.
View Defaqto’s ratings →Life insurance reviews, so typically a much smaller sample than Trustpilot.
Read the Smart Money People reviews →LV= key facts
Ages and terms by product
What wellbeing support comes with LV= policies?
LV= protection policies include support services at no extra cost, centred on LV= Doctor Services.
Wellbeing extras are non-contractual benefits LV= can change or withdraw, and eligibility conditions may apply. They shouldn’t be the main reason for taking out a policy.
Who might LV= suit?
There’s no single best insurer, only the best fit for your business. Here’s how LV= tends to stack up.
LV= may appeal if you
- Want an income protection specialist, with a dedicated executive income protection plan and claims that have run for decades
- Like the mutual model, with the company owned by its members rather than shareholders
- Value a strong customer reputation, with a 4.5/5 Trustpilot score from more than 85,000 reviews
Worth comparing others if you
- Need group life, group income protection or group critical illness for a team, which sits with other insurers on our panel
- Want whole of life cover, which is not part of LV=’s current range
- Need cover beyond the maximum ages on a specific product, such as relevant life entry ending at age 69
An adviser can check your demands and needs across the whole panel before you decide anything.
Let our advisers compare LV= for you
IGotCover is a trading name of Caspian Assured, an FCA-authorised broker. We arrange business protection from a selected panel of leading UK insurers, including LV=. Tell us about your business and our advisers will compare quotes across the panel for you. No jargon, no pressure, just the right cover.
LV= business protection FAQs
LV= scores strongly on independent measures. It paid 95% of all individual protection claims in 2025, almost £152 million, holds 5 Star Defaqto ratings across five protection products, and has a 4.5/5 Trustpilot rating from more than 85,000 reviews across the group. Whether it’s right for your business depends on your circumstances, so it’s worth having an adviser compare quotes across several insurers before deciding.
Yes. LV= offers relevant life cover paid for by the company and written in trust. Entry ages are 18 to 69, terms run from 5 to 50 years, and cover can continue to a maximum age of 75. Any tax efficiency depends on individual circumstances and may change.
In 2025 LV= paid 95% of all individual protection claims, almost £152 million across life insurance, critical illness and income protection, supporting more than 8,000 people. Life claims were paid at 98% and critical illness at 90%. A published claims record is useful context, but every claim is assessed against the policy terms.
Yes. LV= offers a dedicated executive income protection plan, where the company pays the premium for a director and it is treated as a business expense, subject to terms. Income protection is LV=’s specialist area: its longest-running claim has been in payment for over 34 years.
Yes. LV= is one of the insurers on our panel. IGotCover is a trading name of Caspian Assured, an FCA-authorised broker: we arrange the cover and the insurer provides it. We compare products from a selected panel of providers rather than the whole market, and our advisers can help you weigh LV= against the alternatives.
LV= (Liverpool Victoria) was founded in 1843 and is one of the UK’s longest-established mutuals, serving over 1 million members and customers across life, investments, pensions and retirement.
Important information
- This page is information only and not personal advice. Whether a product or provider is right for you depends on your circumstances. Speak to one of our advisers to find out what suits your business.
- IGotCover is a trading name of Caspian Assured, which is authorised and regulated by the Financial Conduct Authority (FCA reference [FRN]). We arrange cover; the insurer provides it. We compare products from a selected panel of providers, not the whole market.
- Cover is subject to the provider’s terms, underwriting, medical history and acceptance, and to a successful claim. Policies carry exclusions and conditions. Relevant Life Insurance is written in trust and has no cash-in value.
- Tax treatment depends on individual circumstances and may change, and any tax efficiency is not guaranteed.
- Provider figures, claims rates and independent ratings are taken from provider and third-party sources and were correct at the time of writing. Ratings measure different things: a Trustpilot score may cover a provider’s whole group rather than one product, and Defaqto rates product features rather than service, so check the basis of each.
- Wellbeing extras are non-contractual benefits the provider can change or withdraw, may have eligibility or residency conditions, and some elements (such as a health check) may carry a charge. They should not be the main reason for taking out a policy.
