The Department for Work and Pensions (DWP) has issued a clarification that pay-outs from term life, critical and terminal illness insurance policies will not impact means-testing for Universal Credit.
The DWP was responding to an inquiry by The Building Resilient Households Group (BRHG) on how payouts from these insurance policies would be treated for means-tested benefits for working age people ...
Two FCA consultation papers
UK's poorest retirees most affected
'5% no longer the norm'
Based on ONS data