LV to track down lost policyholders

LV to track down lost policyholders

LV has launched a campaign to help people track down policies they may have had with the mutual but have since lost.

It said people could be entitled to money back from policies they or family members have had with them in the past, with some owed up to £500.

The campaign is focused on tracing old Liverpool Victoria Friendly Society whole of life, savings and endowment policies taken out between 1920 and 1970.

LV said for many years no premiums had been collected on savings and endowment policies taken out between these years and is encouraging people to speak to family members who may have had a policy and track down relevant details.  

The mutual said it had also lost contact with previous policyholders if they had moved house or died without the company being notified.  

John Perks, managing director at LV, said: "In the year we mark our 175th birthday, we want to take this opportunity to do the right thing by reconnecting with lost members or their families and reuniting them with their lost policies.

"If you think you or a loved one might have had an old policy, and you haven’t heard from us for a while, you could still be a member and could be owed some money.

"Have a look back through old documents, check with your family members if they could have been members, and if you find relevant information, then come and speak to us."

The policies were likely to have been sold by door-to-door agents as so-called "penny policies" or bought directly in a branch. 

LV has said the amount of money due back will vary depending on the individual policy but the maximum a person could be owed was £500.