Liverpool Victoria Funeral Plan Review

People search for LV funeral plans although Liverpool Victoria don’t actually provide one as such. There has been an Over 50s life insurance plan in the past but this appears to now been morphed into a general life insurance product for ages 17 to 79 years old.


Information that follows pertains to the Over 50 plan should LV decide to sell it again and also the life insurance plan, which you can purchase with critical illness cover.

Because this is life insurance and not the typical funeral plan where you would expect to receive costs to a funeral, you are paying money to cover your life but only during the term time. The plan must end at age 85, if you life until you are 85 and one day, the plan pays nothing. This is life insurance, if it was assurance it would exist until you die.

How much does it cost?


It is suggested on their website that coverage begins from as little as £5 a month. This is more about financial protection for your family and for such a nominal sum could be worthwhile depending on other insurance products that you hold. 


Consider however that is it is £5 a month up until age 85. £60 for a year for a lump sum payout if you die, if you have paid in for at least 12 months.

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Common Questions About LV Over 50's Plan

What Plans Do Liverpool Victoria Offer?


Life Insurance: Starting from £5 a month.


Includes: Options on single or joint cover, level or decreasing cover.


Notes: Speak to a financial advisor but if married with family it’s a particular good idea to perhaps have a joint life insurance product to cover in any eventuality.


Trust Held: Unsure, probably not.

What’s Guaranteed?

Everything is guaranteed up until your 85th birthday for the general life insurance products. If you are meeting payments the sum will be paid out regardless of age under 85. With the LV Over 50s life insurance plan, the payments halted at age 90 and as a prize you received free cover for the remainder of your life.




  • You will need a medical
  • Cash payout in event of death and not taking own life
  • Available to applicants between the ages of 17 and 79
  • There was Guaranteed acceptance of ages 50 to 80 within Over 50s plan
  • Payments were also fixed within the Over 50s plan
  • £1000 minimum amount of cover
  • Provides access to LV member benefits and LV Doctor Services


Not Guaranteed:


  • If payments stop, so does your coverage
  • When you take out a specific term time, you cannot claim for terminal illness in the last 12 months of the plan

Does that mean I (or my family) will have to pay money on top?

No, continual payments provide cover for those years. Cover periods can range from 5 to 45 years. And even with the Overs 50s plan, the amount paid should cover the funeral expenses outright. With regards terminal illness, this is where a 45 year term looks a good idea.

What If I Want Something Different?

The amount you wish to see as an actionable payout to someone upon your death during this term time can be negotiated. The higher the lump sum, the higher the monthly payments. 


It is up to a partner or named next of kin to decide which proportion goes towards your funeral and these wishes should be placed in a Will and Testament for an Executor to ensure occurs.


How Does A LV Plan Work?


A funeral benefits option is listed in the old details for the Over 50’s life insurance but not within the normal life insurance product. Upon death the money due to be paid is awarded to your Estate and whomever controls Probate will ensure money is distributed as you wished.

Will my money be safe?

Yes. Overseen and monitored by the Financial Conduct Authority.

Any Cancellation fees?

No. If you stop paying, coverage also stops and you receive no money back.

Will my plan stay the same if I move house?


What happens to my plan if I die before paying the full amount?

The full amount is technically a monthly payment. As long as you keep up payments until age 85 you will be covered. there may be a duration where certain illness are not covered in the first year, you should enquire further.

Liverpool Victoria Funeral Plan Customer Reviews

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