Liverpool Victoria (LV) | Relevant Life Policy

Liverpool Victoria (LV) offers a comprehensive relevant life policy designed to provide significant coverage for employees. Below are the key details of the policy:

Feature Details
Minimum Cover There is no minimum amount of coverage required. Driven by minimum premium.
Maximum Cover The cover must end by your 75th birthday
Type of Cover The following types of cover are available:

  • Relevant Life Cover is a life insurance policy that provides a death-in-service benefit to employees, including salaried directors, in a tax-efficient manner.
  • Life insurance is provided by the company and provides a tax-free lump sum payout upon the death or diagnosis of a terminal illness of the insured person.
  • The policy is structured in a discretionary trust, resulting in the proceeds being directed to the employee’s family or financial dependents.
  • Relevant Life Cover may be suitable for businesses that are too small for a group life scheme, have high-earning employees who may exceed their personal pension lifetime allowance, or have members of group schemes who wish to supplement their benefits.
  • Relevant Life Cover is typically not recommended for nonsalaried directors of a Limited Company, Equity Members of an LLP, or sole traders. However, this policy can often be arranged for PAYE employees regardless of their employer’s legal trading status.
Minimum Term 5 years
Maximum Term 50 years
Minimum Age 17
Maximum Age 69
Premiums Guaranteed
The premiums are paid for by the employer and unlike group schemes, usually treated by HM Revenue & Customs as a business expense.
Death In the First Year The company will not pay a claim if the insured dies as a result of intentionally taking their own life within the first 12 months of the policy.
Changing Your Policy Once the plan has been issued, changes will not be allowed by the client.
Continuation Cover Additional benefit
Additional Benefits When purchasing this product, the policyholder(s) will automatically become members of Liverpool Victoria Financial Services Limited (LV=).
LV= is a mutual company owned by its members, allowing them to have a say in how the company is operated.
Our members have access to various LV= benefits.
For more information on the full range of benefits and any applicable conditions, please visit
The life insured is not eligible for membership and will not have access to the full range of LV= benefits.
LV= benefits are subject to change and are not contractual.