Cancellation service N°1 in United Kingdom
Contract number:
To the attention of:
Cancellation Department –
Subject: Contract Cancellation – Certified Email Notification
Dear Sir or Madam,
I hereby notify you of my decision to terminate contract number relating to the service. This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual notice period.
I kindly request that you take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper receipt of this request;
– and, where applicable, send me the final statement or balance confirmation.
This cancellation is sent to you by certified email. The sending, timestamping and integrity of the content are established, making it equivalent proof meeting the requirements of electronic evidence. You therefore have all the necessary elements to process this cancellation properly, in accordance with the applicable principles regarding written notification and contractual freedom.
In accordance with the Consumer Rights Act 2015 and data protection regulations, I also request that you:
– delete all my personal data not necessary for your legal or accounting obligations;
– close any associated personal account;
– and confirm to me the effective deletion of data in accordance with applicable rights regarding privacy protection.
I retain a complete copy of this notification as well as proof of sending.
Yours sincerely,
Tracked Letter
Ending your LV Life Insurance membership made easy
About LV Life Insurance
LV, formerly known as Liverpool Victoria, stands as one of the UK's most established life insurance providers with a heritage spanning over 180 years. As a mutual insurer, LV operates differently from shareholder-owned companies, prioritising the interests of its members and policyholders. The company offers a comprehensive range of life insurance products designed to provide financial protection for families and dependants should the worst happen.
LV Life Insurance provides various policy types including term life insurance, whole of life cover, and over 50s life insurance. Their term life insurance allows customers to choose coverage periods from 5 to 40 years, with options to include critical illness cover and income protection. This flexibility means you can tailor your policy to match your specific circumstances, whether you're protecting a mortgage, providing for young children, or ensuring your partner's financial security.
The company serves millions of customers across the UK and maintains its head office in Bournemouth. LV is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), which means you benefit from robust consumer protections. This regulation ensures that LV must treat customers fairly and handle cancellations according to strict guidelines that protect your rights.
Understanding your rights as a policyholder is essential. Life insurance policies are long-term commitments, but circumstances change. You might find more competitive rates elsewhere, your financial situation may have shifted, or your coverage needs could have evolved. Whatever your reason, you have the legal right to cancel your policy, and LV must process your cancellation according to regulatory requirements.
Subscription plans and pricing
LV Life Insurance offers several distinct product lines, each designed for different life stages and protection needs. Understanding what you're paying for helps you make informed decisions about whether to continue or cancel your policy.
Term life insurance options
Term life insurance represents LV's most popular product category. These policies provide coverage for a specified period, with premiums that remain fixed throughout the term. The cost depends significantly on your age, health status, whether you smoke, the coverage amount, and the policy duration. As a result, two customers might pay vastly different premiums for similar coverage levels.
Level term insurance maintains the same payout amount throughout the policy duration. For example, a 35-year-old non-smoking male might pay approximately £15-25 monthly for £200,000 coverage over 25 years. Decreasing term insurance, often used for mortgage protection, reduces the payout amount over time as your mortgage balance decreases, typically costing less than level term policies.
Whole of life insurance
Whole of life policies continue until death, regardless of when that occurs, provided premiums are maintained. These policies cost considerably more than term insurance because the payout is guaranteed. Monthly premiums might range from £50 to several hundred pounds depending on the coverage amount and your age when taking out the policy.
Over 50s life insurance
LV's over 50s life insurance guarantees acceptance without medical questions for UK residents aged 50-80. Premiums typically range from £10 to £50 monthly, with coverage amounts between £1,000 and £25,000. This product type often represents better value for those with health conditions who might struggle to obtain standard life insurance.
| Policy Type | Typical Monthly Cost | Coverage Period | Key Features |
|---|---|---|---|
| Level Term Life | £15-£100+ | 5-40 years | Fixed payout, fixed premiums |
| Decreasing Term | £10-£60+ | 5-40 years | Reducing payout, mortgage protection |
| Whole of Life | £50-£300+ | Until death | Guaranteed payout, cash value option |
| Over 50s | £10-£50 | Until death | Guaranteed acceptance, no medical |
Additional coverage options
LV allows you to enhance basic life insurance with critical illness cover and income protection. Critical illness cover pays out if you're diagnosed with specified serious conditions like cancer, heart attack, or stroke. This addition can double or triple your monthly premium but provides living benefits rather than death benefits only. Income protection replaces a portion of your salary if illness or injury prevents you from working.
Cancellation terms and conditions
Understanding your cancellation rights empowers you to make decisions confidently. LV Life Insurance policies come with specific terms that govern how and when you can cancel, and these terms directly affect your financial position.
Cooling-off period protection
UK insurance regulations provide you with a 30-day cooling-off period from the date your policy starts or when you receive your policy documents, whichever is later. This means you have substantial time to review your decision without penalty. If you cancel during this period, LV must refund all premiums paid, minus any proportionate charge for the days you were covered. This protection exists specifically to ensure you're not pressured into commitments you later regret.
Therefore, if you've recently taken out your policy and have second thoughts, acting quickly within this 30-day window maximises your refund. You don't need to provide detailed justification—your right to cancel during this period is absolute under Financial Conduct Authority rules.
Cancellation after the cooling-off period
After the cooling-off period expires, you retain the right to cancel at any time, but the financial implications change significantly. For term life insurance policies, cancellation means you stop paying premiums and your coverage ends. You won't receive any refund of previous premiums because term insurance provides pure protection without savings elements. This represents the key difference between term insurance and investment-linked policies.
Whole of life policies may have accumulated cash value depending on the policy structure. In practice, some whole of life policies build up a surrender value over time, which you might receive upon cancellation. However, surrender values in the early years are often minimal or non-existent, and cancelling may result in receiving less than you've paid in premiums.
Notice period requirements
LV typically requires written notice to cancel life insurance policies. The policy documentation specifies exact notice requirements, but standard practice involves providing cancellation instructions that take effect from the next premium due date. This means your coverage continues until the end of your current paid period, protecting you during the transition.
| Cancellation Timing | Refund Entitlement | Notice Required | Coverage End Date |
|---|---|---|---|
| Within 30 days (cooling-off) | Full refund minus proportionate cover | Immediate | Upon processing |
| After 30 days (term insurance) | No refund | Written notice | Next premium due date |
| After 30 days (whole of life) | Surrender value if applicable | Written notice | Upon processing |
Why customers choose to cancel
Understanding common cancellation reasons helps you evaluate your own situation. Many customers find more competitive rates through comparison websites or specialist brokers, particularly if their health has improved or they've stopped smoking since taking out their original policy. Life changes such as paying off a mortgage, children becoming financially independent, or relationship changes can reduce protection needs.
Financial pressures represent another significant factor. When household budgets tighten, life insurance premiums may feel like an unaffordable luxury, though this decision requires careful consideration of leaving dependants unprotected. Some customers consolidate multiple policies with different providers into a single, more manageable policy elsewhere.
How to cancel LV Life Insurance by post
Cancelling by post provides the most reliable, documented method for ending your LV Life Insurance policy. This approach creates an indisputable paper trail that protects your consumer rights and ensures your cancellation request cannot be overlooked or disputed.
Why postal cancellation offers superior protection
Written cancellation sent by Recorded Delivery provides legal proof of your cancellation request and when LV received it. This matters enormously if disputes arise about cancellation dates or whether you provided proper notice. Phone cancellations rely on accurate note-taking by call handlers and can be difficult to verify later. Online methods, while convenient, may encounter technical issues or lack the formal documentation that written correspondence provides.
As a result, consumer rights specialists consistently recommend postal cancellation for important financial contracts. The small cost of Recorded Delivery—typically around £2-3—represents excellent value for the peace of mind and legal protection it provides. You receive a reference number and can track delivery, confirming exactly when LV received your letter.
Essential information for your cancellation letter
Your cancellation letter must include specific details to ensure LV can process your request efficiently. Include your full name exactly as it appears on your policy documents, your complete postal address, and your policy number which you'll find on correspondence from LV. State clearly that you wish to cancel your life insurance policy and specify your preferred cancellation date.
Request written confirmation of your cancellation, including the final premium payment date and confirmation that no further payments will be collected. If you pay by Direct Debit, explicitly instruct LV to cancel this payment arrangement. For whole of life policies, ask about any surrender value and request details of how this will be paid to you.
Sign and date your letter. This signature confirms your identity and intention, making the document legally binding. Keep a photocopy or photograph of your completed letter before posting—this creates your personal record of exactly what you sent.
The correct postal address for cancellations
Sending your cancellation to the correct address ensures prompt processing. LV Life Insurance cancellation requests should be sent to:
- LV Customer Relations
- County Gates
- Bournemouth
- BH1 2NF
Always use Recorded Delivery when sending cancellation letters. This service costs slightly more than standard postage but provides tracking and proof of delivery that standard post cannot offer. Visit your local Post Office, explain you need Recorded Delivery, and keep the receipt with the tracking reference number safely.
Using services like Postclic for cancellation letters
Modern services such as Postclic streamline the postal cancellation process while maintaining the legal protections that make written cancellation so valuable. Postclic allows you to create, send, and track formal letters entirely online, eliminating trips to the Post Office while ensuring your cancellation reaches LV with full tracking.
In practice, you compose your cancellation letter through Postclic's platform, which then prints, envelopes, and posts it using tracked delivery services. You receive digital proof of postage and delivery confirmation, creating a complete audit trail. This approach saves time while providing the same legal protections as traditional Recorded Delivery, making it particularly useful if you have mobility issues, work commitments that prevent Post Office visits, or simply value convenience.
Timeline expectations after posting
Recorded Delivery typically reaches LV within 1-2 working days of posting. LV should acknowledge your cancellation request within a few days of receipt, though processing the actual cancellation may take 5-10 working days. During this period, maintain your premium payments to avoid policy lapse complications—you can claim refunds for any overpayments once cancellation completes.
If you haven't received written confirmation within 10 working days of your letter's delivery, follow up with a second letter referencing your original correspondence and including the Recorded Delivery tracking number. This persistence ensures your cancellation doesn't fall through administrative cracks.
Customer reviews and tips
Learning from other customers' experiences helps you navigate the cancellation process more effectively and avoid common pitfalls. Reviews of LV Life Insurance cancellations reveal consistent patterns that can inform your approach.
Common customer experiences
Many customers report straightforward cancellation experiences when they provide clear written instructions with all necessary details. LV generally processes cancellations efficiently when the paperwork is complete and sent to the correct address. However, some customers experience delays when information is missing from cancellation requests or when letters are sent to incorrect departments.
Customers emphasise the importance of keeping comprehensive records. Those who retained copies of their cancellation letters, Recorded Delivery receipts, and all subsequent correspondence found resolving any issues much simpler. This documentation proves invaluable if you need to escalate complaints or involve the Financial Ombudsman Service.
Direct Debit cancellation considerations
Several customers advise against cancelling your Direct Debit before receiving written confirmation that LV has processed your policy cancellation. Cancelling the Direct Debit prematurely can create complications, potentially causing your policy to lapse rather than cancel properly, which might affect your insurance history. Therefore, wait until LV confirms your cancellation is complete before instructing your bank to cancel the Direct Debit.
That said, once you receive cancellation confirmation, cancel the Direct Debit promptly through your bank. Don't rely solely on LV to stop collecting payments—taking control of your Direct Debit provides additional protection against accidental collections.
Timing your cancellation strategically
Experienced customers recommend timing cancellations to align with your premium payment schedule. Cancelling shortly after a premium payment means you've paid for coverage up to the next due date, allowing time for processing without coverage gaps. This approach proves particularly important if you're switching to another provider—you can ensure your new policy starts before your LV policy ends.
For those within the cooling-off period, act quickly to maximise your refund. Each day of coverage reduces the refund amount proportionately, so cancelling on day 5 returns more money than cancelling on day 28.
When to seek additional support
If LV doesn't respond to your cancellation request within 15 working days, or if you're unhappy with their response, you have clear escalation rights. First, write to LV's Customer Relations department outlining your concerns and requesting resolution within a specific timeframe—14 days is reasonable.
Should this fail to resolve matters, you can contact the Financial Ombudsman Service, which provides free, independent dispute resolution for financial services complaints. The Ombudsman can investigate your case and make binding decisions that LV must follow. You can also contact the Financial Conduct Authority if you believe LV has breached regulatory requirements, though the FCA doesn't resolve individual complaints.
Protecting yourself during the process
Document every interaction related to your cancellation. If you do speak with LV by phone, make notes including the date, time, advisor's name, and what was discussed. Follow up phone conversations with letters confirming what was agreed—this creates written records of verbal discussions.
Check your bank statements regularly after cancellation to ensure no further premiums are collected. If LV takes payment after your cancellation date, contact them immediately requesting a refund and written explanation. Your bank can also help reverse unauthorised Direct Debit collections under the Direct Debit Guarantee.
Remember that cancelling life insurance leaves you and your dependants without financial protection. Before cancelling, carefully consider whether you're replacing the coverage elsewhere or whether your protection needs have genuinely changed. While you have every right to cancel, ensuring your family's financial security remains paramount. If you're cancelling due to affordability issues, consider reducing your coverage amount rather than cancelling entirely—some protection typically proves better than none.