ABI calls for Universal Credit vs income protection clarification

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 ...