Liverpool Victoria is writing to its entire low cost mortgage endowment policyholders to guarantee that its product will not leave shortfalls. The company has reassured around 5,500 policyholders with the guarantee that protects the maturity value of their policyholders, promising that the value will be at least equal to the policy death benefit which is normally the amount of mortgage covered.
Liverpool Victoria has already made financial provision to cover the guarantee and have said that this will have no adverse impact on future financial performance.
Our view
This is excellent news for Liverpool Victoria clients.