To cancel an LV= life insurance policy, you call LV= on 0800 678 1906, or write to it, and say you no longer want the cover. LV='s policy documents say you can cancel at any time, that your payments come back only when the cancellation falls in the first 30 days after the policy starts, and that a cancelled policy will not pay a claim.

Replacing the policy rather than dropping it? A broker holding FCA authorisation can phone you back, for nothing, to go over alternatives while the LV= cover is still running; the request is made through the form on this page.

What follows is drawn from LV='s current Life Protection conditions (document reference MIMILP16) and its Life Protection and Life and Critical Illness summaries. The documents sent with your own policy are the ones that apply, and the Over 50s plan has its own page: LV= over 50s life insurance.

What does LV= ask you to consider before you cancel?

Under the heading "I'd like to cancel my policy", LV='s existing customer page puts a set of questions to its own customers first. Each one points to something other than cancelling:

  • Mortgage paid off. LV= says that if you no longer need to protect your mortgage, "your lump sum claim payment is still valid and can be used to protect your family or pay off any debts or unwanted bills".
  • Money is tight. LV= says "If you’re struggling to pay your policy premiums we may be able to help you with a payment break whilst keeping your policy in place for you." Whether a break is open to your policy is a question for the phone line.
  • A change instead of an ending. On a flexible plan, LV= offers a web form to change the amount of cover or the end date, provided LV= hears from you six months or more before the end date. The form sits on the same page, and the LV= life insurance app and online account guide lists the other forms there.
  • Divorced or separated. LV= says a joint policy can stay in force after a divorce and that you might be able to split the cover. The section on joint policies below has the detail.
  • Cover through work. LV= notes that death in service benefits are in many cases tied to the company pension, that the amount depends on the scheme, that the benefits stop if you change employer, and that death in service does not necessarily replace a life policy. Death in service benefit alongside a policy of your own sets out how to weigh the two.

Those are LV='s prompts to its customers, not a recommendation either way. The decision is yours, and the next section is for when you have made it.

Where do you reach LV= to cancel?

The page closes its cancellation section with "please call us on 0800 678 1906". The policy summaries give the same number, with a postal address: LV= Protection, PO Box 341, Abbey View, Wymondham, NR18 8HR. Textphone users dial 18001 before the number, and LV= says it may record or monitor calls for training and audit purposes. On the existing customer page the same number carries opening hours of 9am to 5pm, Monday to Friday.

The page lists different numbers for different kinds of policy number, and a policy number that starts with a letter has its own line, 0800 681 6294. Its cancellation section names only 0800 678 1906, so if your number starts with a letter, ask LV= on either line which one handles your cancellation.

An Over 50s plan has a separate number on the page, covered with the plan itself in the over-50s guide linked above. The LV= contact routes guide sets out the full table of lines as read on 27 October 2026; numbers and hours change, so check the page before you ring.

If you are reading because the person insured has died, the page has a separate heading, "Tell us about a bereavement", which lists what LV= asks for when you get in touch and points to its Bereavement page; claims have their own phone lines under a different heading. That is the route LV= points you to rather than the cancellation line.

What happens to your cover and your money when you cancel?

LV='s Life Protection policy conditions say: "You can cancel your policy at any time, just get in touch and tell us you no longer want it." What follows depends on timing:

  • Inside 30 days of the start date. LV= says it "will refund everything you’ve paid".
  • After 30 days. You "won’t get anything back" is how the Life and Critical Illness summary puts it for that plan, and the Life Protection conditions say LV= will not refund any of the money already paid.
  • Either way. The cover ends. The conditions say: "we won’t pay a claim if you die or are diagnosed with a terminal illness."

There is also nothing to cash in on the Life and Critical Illness plan: its summary says "This policy has no cash in value at any time." The Life Protection summary describes the same cancel-and-refund pattern. Life Protection is paid by monthly Direct Debit, so ask LV= on the call for the date the cover stops and the last payment it will take.

LV= asks one more thing of people cancelling because life has changed. Its conditions say that if the reason is a change in circumstances rather than not wanting cover, you can get in touch with LV=, or speak to your financial adviser, for help finding an alternative.

What happens if you miss LV= payments instead of cancelling?

Letting the Direct Debit go is not the same as cancelling, though the end result can be the same. The Life Protection policy conditions give you 60 days from the due date to make up missed payments. The summary adds that during those 60 days you are still covered, but LV= asks you to pay the full amount owed before it can pay a claim.

If the money has not arrived after 60 days, LV= cancels the policy. The conditions say you are no longer covered and that LV= will not refund what you have already paid.

A policy that ended this way can sometimes be restarted. The conditions say you can ask within six months of the first missed payment, and that you will have to answer health questions and make up all the missed payments. If your health has changed since the policy began, LV= says you might be asked to accept a new policy or changed terms, and LV= does not have to agree to restart it. What does it mean when life insurance lapses? covers the general picture.

Can a joint LV= policy be split, and what about trusts or new cover?

On a joint Life Protection policy, the conditions describe a route after a divorce, dissolution or legal separation. Within six months, both people can agree to convert the joint policy into two single ones. LV= says the joint policy is then cancelled and replaced, and each new policy cannot carry more cover than the joint one. Within 12 months, you can instead share the existing amount between you. Can one person cancel a joint policy? and joint life insurance after a divorce go into the wider questions.

If the policy is written in trust, the payout would go to the trustees, so ending it can raise questions of its own; cancelling a life insurance policy in trust covers them.

For replacement cover, LV='s Life Protection summary says that once a policy has started you cannot change its type, and "If you want to change the type of cover you have you would need to cancel your current policy and take out a new one." LV= says the price of its Life Protection policy depends on your age, the cover and term you choose, and your health, smoking included, so a replacement is priced on those as they stand when you apply. The order of events matters, and how to switch life insurance companies walks through it. With the LV= policy still running, the form on this page offers a free phone conversation with a broker about the health questions a new insurer will put.

Frequently asked questions

Can I cancel LV= life insurance online?

The cancellation instructions in LV='s policy summaries and on its existing customer page give a phone number and a postal address. The chat icon on that page is the place to ask whether LV= will take a request that way.

How long do you have to change your mind about an LV= policy?

LV='s documents describe a 30-day window from the policy start date in which it refunds what you have paid. After that you can still cancel, but nothing comes back. The cancellation period for life insurance explains how other insurers handle it.

What happens to the LV= e-gift card if I cancel?

LV='s offer terms, read on 27 October 2026, cover applications made online directly at lv.com from 17 August 2026; applications through LifeSearch, a financial adviser or a comparison site do not qualify. The card is "only available to customers who have paid their 6th monthly premium in full on the date it is due", and the terms also shut out anyone who has cancelled an LV= life, or life and critical illness, plan in the past. The cover should drive the decision, not the card; LV= member benefits covers the other perks.

Do I need to cancel Children’s cover when my children grow up?

On the Life and Critical Illness plan, the summary says "This policy will not cover your children once they reach the age of 23", and that LV= "won't remove Children's cover from your policy automatically". You tell LV= yourself, or ask your adviser to.

Should new cover be part of the plan, the shortest route to a broker who will go through it by phone, free, is the form on this page.

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