Mental health (29%) is the single biggest reason for LV income protection claims.
LV= offers members emotional and practical support that they can access every day.
LV= Doctor Services provides members with access to six expert medical services provided by Square Health. Over the COVID period LV= has seen an uplift in LV= Dr Services app downloads and increase in remote GP appointments.
Since the start of the coronavirus outbreak, LV= has introduced measures to help members keep their policy in place.
- A premium reduction option for members with income protection, critical illness, life insurance and business protection policies can reduce their cover and premium amount for up to six months.
- 'Payment break’ financial support for qualifying members. Funded through the LV= Member Support Fund, payment breaks are offered a month at a time, for up to three months, to members experiencing financial distress.
LV= members facing extraordinary or unusual circumstances can also apply for financial or practical support through the LV= Member Support Fund. If they meet the criteria, this could be a lump sum payment to help them through hardship.
Since the start of 2020, through the Member Support Fund, LV= has supported 60 members with a total of £43,000. Some 34 of these applications were from members who have been directly affected by coronavirus. Last year LV= supported 75 members with a total of £98,000.
LV= has this year taken 126 counselling calls, via the Member Care Line. 73 of these calls were dealing with mental health issues.