Industry reaction: Protection exempt from mortgage loan means-testing - DWP
Providers supplying mortgage protection solutions alongside State benefits should 'keep it simple'
The Department for Work & Pensions (DWP) has confirmed that income from mortgage protection pay-outs would be excluded from means-testing for State benefits, following a request for clarification by the Building Resilient Households Group. This means that holders of a Support for Mortgage Interest Loan (SMIL) will not have their income from insurance policies assessed against their State benefits. The news was warmly welcomed across the industry, with Tom Baigrie, CEO of Lifesearch, calling...
More on Individual Protection
A DECADE OF DISTRIBUTION: Upward trends
New channels, specialist advisers and mortgage brokers
Fairer Finance removes tifgroup ratings
Travel insurer 'surprised'
LV= launches rental protection
4.5m UK households rent
Isobel Langton: Seeing the bigger picture
CEO interview
A quarter of SMEs would use cash reserves if owner died
51% would use personal wealth
