ABI calls for Universal Credit vs income protection clarification

Following New Policy Institute report

Adam Saville
clock • 3 min read

Over half of individual income protection customers estimated to have entitlement to Universal Credit however 36% would have it removed because of their policy

The Association of British Insurers (ABI) has called on the Department of Work & Pensions (DWP) to provide insurers with a better understanding of the potential interaction between individual income protection (IP) and Universal Credit (UC). In November last year, we reported that the DWP had clarified that term life, critical illness and terminal illness insurance would not impact UC means-testing. While entitlement to UC does not impact on the amount of any IP payment made to the policyholder, an ABI-commissioned report by the New Policy Institute has pointed out that it can have a ...

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