In this technical article, we analyze the performance improvement and optimality properties of the learning model predictive control (LMPC) strategy for linear deterministic systems. The LMPC framework is a policy iteration scheme where closed-loop trajectories are used to update the control policy for the next execution of the control task. We show that, when a linear independence constraint qualification (LICQ) condition holds, the LMPC scheme guarantees strict iterative performance improvement and optimality, meaning that the closed-loop cost evaluated over the entire task converges asymptotically to the optimal cost of the infinite-horizon control problem. Compared to previous works, this sufficient LICQ condition can be easily checked, it holds for a larger class of systems and it can be used to adaptively select the prediction horizon of the controller, as demonstrated by a numerical example.