A controversial takeover of a private equity company by historic insurer LV has caused a storm among loyal customers.
Mail readers pledge to vote no on the deal.
Many members have been with the mutual for years and trusted the firm to take care of their money.

Unimpressed: Retired lecturer Clarissa Johnson (pictured) says she was ‘horrified’ when she first heard that LV could fall into the hands of Bain Capital
They feel bitterly disappointed by the prospect of losing their investment and pension funds.
Liverpool Victoria used to be the name of this investment and insurance firm. It was created in 1843 by Liverpudlians who wanted help burying their dead.
It has been managed by the members of its mutual since then.
But the firm is now considering accepting a £530 million bid from U.S. firm Bain Capital, which would see it stripped of its mutual status.
Private equity firms have a reputation for increasing prices and cutting jobs. They also prioritize the salaries of shareholders and top bosses.
Today, The Mail is calling for members to join our campaign to save LV.
The vote is open to approximately 1.2 million members of LV who are covered by life insurance, pensions policies or annuities.
Many have pledged their opposition to it.
Retired lecturer Clarissa Johnson says she was ‘horrified’ when she first heard that LV could fall into the hands of Bain Capital.
The 74-year-old grandmother took out an enhanced annuity with the mutual over a decade ago, which pays out just under £500 a month.
However, she now says she has lost trust in LV’s board and plans to vote against the deal next month.
Bain Capital has pledged to pay each member up to £100 if the takeover goes ahead.

Retired couple Joseph and Jennifer Schneider, from Bushey, Hertfordshire, are horrified that LV chairman Alan Cook is backing a move that would demutualise the business
And around 297,000 customers who have with-profits policies — where payouts depend on how much profit companies make — will receive an extra 0.1 pc of the value of their policy for every year that they have held it. This is around £52 for most members.
LV bosses claim Bain’s bid is the only option that offers an ‘excellent financial outcome’ for members’ along with ‘unrivalled support’ for the brand, staff and UK-based offices.
But, given that Scottish Widows members received an average windfall of £6,000 when it was demutualised and bought by Lloyds in 2000, many feel the cash payment they have been offered is derisory.
Clarissa, who lives in Dorset, says: ‘The sum of money they offered us not only sounds like a bribe, it’s a paltry amount.
‘How does it amount to an “excellent financial outcome” for me, like LV says?’
If LV becomes a non-mutual, members won’t be able to influence any company decisions. Bain Capital has pledged to keep ‘mutual bonuses’ received by with-profit customers at a similar rate.
Experts fear that the company could increase exit fees or premiums to new customers.
Malcolm Murray, now 77 years old, is a customer of LV for over 50 years. He’s just like his grandparents, and so have his parents.
In 2000, the husband of Sheila (73), set up a mutual bond to invest in her future. This was so that she could be financially protected in case he dies unexpectedly.
The with-profits policy has delivered returns of around 5 pc each year — and is now worth a five‑figure sum.
However, the former chartered engineer said he would consider moving his bond elsewhere if Bain Capital is unsuccessful and vowed to vote no on the deal.
Malcolm, who lives in Lincolnshire, says: ‘The cash which Bain is offering to members is derisory. LV must be maintained as a mutual. If it ain’t broke, don’t fix it.’
Others are worried about perceived intransparency around the deal.
They are also worried that bosses want to change LV’s constitution to push the deal through.
The deal must be supported by at least 75 percent of the voting members.
But LV is asking members to vote to ditch the 50 per centc requirement, which means it could go ahead with just a fraction of its members’ support.
And even if the bosses lose this vote, they could still go ahead with the sale but members will be paid just £60 rather than £100.
Derek Eade (76), who owns a five-figure amount in a bond with profit growth, believes that all of this uncertainty is unacceptable.

John James is concerned other members will be tempted by a short-term reward of £100
The retired accountant, who lives with wife Pam, 74, in Epsom, Surrey, says: ‘Policyholders need to know what they are voting for, especially the amount they will receive.’
Joseph Schneider and Jennifer Schneider from Bushey in Hertfordshire are shocked that Alan Cook, LV chairman, is supporting a move to demutualize the company.
A retired couple joined LV’s pension plan over a decade ago, believing that the firm was concerned about their members.
After discovering that Cook was managing director at the Post Office in 2006-2010, when subpostmasters had been falsely accused for theft, they lost confidence in him.
Joseph, 78, who has already voted against the deal, says: ‘I just do not trust Bain Capital — goodness knows what will happen to our pensions. I’m ashamed and disgusted with the deal and Mr Cook should be ashamed of himself.’
John James, 72, is concerned that other members will be tempted by a short-term reward of £100 in cash. Retired construction manager, John James, 72, took out an annuity with LV that pays a regular income for retirement.
John, who lives in Norfolk, says: ‘It is a terrifying thought that LV, a mutual, will be taken over by such a company. The £100 offer is a cheap joke, but other members could be easily influenced without looking at the long-term consequences.’
He calls on the Financial Conduct Authority (City watchdog) to block the transaction.
An LV spokesman says it needs ‘significant investment’ to compete in a ‘highly competitive’ market, adding: ‘Whilst none of the bids would have allowed LV to remain as a stand-alone mutual, this deal provides the highest distribution to with-profits policyholders compared to continuing with “business as usual” or closing to new business.’
Matt Popoli, a managing director of Bain Capital, says its proposed investment ‘maintains an independent LV’, adding: ‘To be sustainable and achieve long-term success, LV needs capital to address its heavy debt pile, fund its pension liabilities and invest for growth.’
f.parker@dailymail.co.uk