LV Income Protection For Renters

LV Income Protection For Renters

  • Only 7% of renters have some form of personal protection.
  • It’s for anyone who doesn’t have sick pay at work.
  • Can pay out up to 70% of your monthly gross income.
  • Income protection starting from £6* a month

What is LV income protection?

LV Income protection insurance is an essential coverage for renters in the UK. It can provide financial protection in the event that a person is unable to work due to illness or injury, which can have a significant impact on their ability to pay bills and maintain their standard of living. Liverpool Victoria, also known as LV, offers an income protection insurance policy for renters in the UK that can help to mitigate the financial risks associated with an unexpected loss of income.

The policy also offers flexibility in terms of policy term and benefit period options. Policyholders can choose the length of the policy term, and the benefit period, which is the length of time that benefits will be paid out. This allows policyholders to tailor their coverage to suit their individual needs and budget.

Benefits of LV income protection for renters

One of the key benefits of LV income protection insurance for renters is that it can provide a regular income to the policyholder in case they are unable to work due to illness or injury. The policy pays out a regular income, typically a percentage of the policyholder’s salary, until they are able to return to work or until the end of the policy term. This can be a huge help for renters who are unable to pay their bills due to a loss of income, providing them with a sense of financial security.

Another benefit of LV’s income protection insurance is that it can provide coverage for a wide range of illnesses and injuries. This means that policyholders can be protected against a variety of unexpected events and be able to maintain their standard of living.

It’s also worth noting that LV’s income protection insurance is designed to complement state benefits, so it’s not meant to replace them. It can be a great way to supplement state benefits and provide additional financial security for renters.

What can income protection insurance help you cover?


  • Rent or Mortgage
  • Household Bills 
  • Living Costs 
  • Grocery shopping 
  • Any Debt payments 
  • Leisure 
  • Other essential costs.

What determines the cost of LV income protection?


Policy type


Smoker Status

Medical History

Length of deferred period

Due to the fact that your premium is determined using information that is specific to you, the cost of income protection insurance will therefore vary from person to person.

What is a deferred period?

In the case of Income Protection, a deferred period is a set amount of time that must pass before your insurance will cover your income. During this time instead of relying on your policy, you might be able to get by with the following: savings, sick pay from work, or other money. Therefore, you might not need the benefit right away.

Different deferred period you can choose from:


  • Day One Cover
  • 1 week
  • 2 weeks
  • 4 weeks
  • 8 weeks
  • 13 weeks
  • 6 months
  • 12 months
Lv Income protection

How long does LV income protection pay out for?

'Payment period'

The payment period is the maximum amount of time your income protection policy will pay your monthly allowences for if you’re unable to work due to sickness or an accident.

However, to file a claim for the same condition again, you must normally return to work for a period of time, which is usually 6 months.

Generally there are several possibilities for Income Protection coverage. Payment durations are often 12 months, 24 months, 60 months, or until the insurance expires.

For the last option, the expiration of the policy is normally associated with your retirement age.

If you have a policy with a payout period to the end of the policy life, a claim could last until retirement if you are undoubtedly unable to ever return to work again.

When thinking about the duration of the payout period. It is important to note that it is usually determined by your budget. Subsequently the longer the payment period, the greater the monthly premium charged by the insurer. Each recommendation on the payment period differs between each individual. In reality finding the right duration is dependent on finding a balance between how comprehensive your cover is and your budget.

No Comments

Post A Comment