LV= life insurance for over 50s now means term cover only: LV= no longer sells an over-50s plan to new customers, and it has stopped selling whole of life cover as well. LV='s guide to life insurance over 50 (last updated 29 September 2026) says it "no longer provides specific over 50’s whole of life cover products, known as a 50 Plus policy, or any whole of life insurance products". Anyone who already holds a 50 Plus policy can still claim on it.

Because LV= has stopped selling over-50s plans, it is worth asking an FCA-authorised broker which companies still accept applications at your age. It costs nothing to ask, so you could try the form on this page.

Can you still buy LV= over 50s life insurance?

No. LV='s high-risk life insurance guide puts it in one line: "Please note, LV= no longer offer over 50 life insurance policies."

What LV= does still sell is term cover. Its guide says it has a choice of term products and can arrange level and decreasing cover for over 50s. Those policies are open to UK residents aged 17 to 84, with the cover expiring before you reach age 90.

A term policy is a different product from an over-50s plan. It pays only if you die within the term, and applicants are asked for more information at the start than an over-50s plan needs, possibly including a medical report. Its own guide adds that term cover is "not really suitable for covering funeral costs or providing an inheritance". How LV='s term policy works, what it pays for and its limits are set out on the LV= life insurance page.

What happens to an existing LV= 50 Plus policy?

The claims page for existing LV= customers says the same: "No, LV= no longer offer a specific over 50’s whole of life cover product, although if you have an existing policy, you can still make a claim."

If you are dealing with a claim after someone has died, LV= asks you to have these to hand where you can:

  • the policy number, which is on the policy documents or a bank statement;
  • an original death certificate, which is sent straight back;
  • a copy of the will and letters of confirmation from joint executors or joint next of kin, depending on the circumstances.

The claims line is 0800 032 8390, open Monday to Friday, 9am to 5pm (TextDirect users dial 18001 first). You can also write to LV= Protection, PO Box 341, Wymondham, NR18 8HR. The person making the claim can contact LV= directly. A claim is paid provided premiums are up to date, but not one found to be fraudulent.

If your policy is assigned to Dignity Pre Arrangement Ltd, ring Dignity on 0800 387 717 first; Dignity then arranges for the next of kin to contact LV=, and LV= settles Dignity's invoice directly with Dignity once it has the paperwork.

If you are still paying for a plan and want to stop, cancelling an LV= life policy is covered separately. How long premiums run on a particular 50 Plus plan, and what it paid out in its first years, is in the policy documents you were sent; a broker can explain how plans of that kind usually work when they phone you.

What does LV= say to weigh up about any over-50s plan?

LV='s guide lists the trade-offs it sees in over-50s plans. Its list says the payout "may be lower than other types of life insurance", that its value "could reduce over time because of inflation", and that "You may pay more into the policy than your loved ones receive when you die". It adds that there "may be a waiting period before the full payout applies", and that if you stop paying "the policy may end and you may not get back what you’ve already paid".

Premiums and the payout are usually both fixed on these plans, and some providers stop taking premiums after a certain number of years or once you reach a certain age while keeping the cover in place. Those are the points to check on whichever plan you look at. The waiting period is explained on funeral cover waiting periods, who is accepted on guaranteed acceptance life insurance, and monthly prices on over-50s life insurance cost.

Where do you look instead if you want cover after 50?

Other insurers do sell over-50s plans, each with its own entry ages and terms. Best life insurance over 50 lines the main ones up, and the separate pages for Legal & General, the Post Office and SunLife cover those insurers one at a time. The wider choice of term, joint and whole of life cover at your age is on life insurance over 50, and the hub at over-50s and later life gathers the rest.

If you want help finding cover that LV= no longer offers, a broker can explain which insurers are open to applicants of your age. You arrange the call-back, which costs nothing, in the form on this page.

Frequently asked questions

Does an LV= 50 Plus plan have a cash-in value?

No. LV= says its over-50s plan was designed to provide life cover, "not as a savings or investment product", so it has no cash value and "won’t provide a cash payment unless a valid claim is made". Its guide adds that if you stop paying premiums the cover ends and you get nothing back.

Is it too late to take out LV= cover in my seventies?

LV= says it takes applications for level and decreasing term cover up to age 84, with the policy ending before you reach 90. Its guide adds that term cover costs more the older you are, and that you get nothing back if you outlive the term.

Is it worth continuing with an old LV= over-50s plan?

LV='s guide says that if you have paid premiums for some time, continuing "may be worth considering", but that it is important to weigh the premiums you are likely to pay against what your beneficiaries could receive. Ending a plan ends the cover, so look at your own policy papers first. Whether keeping an old plan is worthwhile depends on figures in your own paperwork, and a broker can set alternatives beside it on a call-back you can request with the form here, at no charge.

Sources