Advisers 'not properly supported' on Universal Credit

ABI seeks IP clarification

Adam Saville
clock • 4 min read

Top adviser feels 'let down' by industry bodies and product providers over lack of communication

Moneysworth director, Andrew Wilkinson, has voiced his disapproval that advisers were not informed sooner about potential complications in the way Universal Credit (UC) entitlement might interact with income protection payments. On Friday we reported that a study by the New Policy Institute, commissioned by the Association of British Insurers (ABI), found that while entitlement to Universal Credit (UC) does not impact on the amount of any individual income protection (IP) payment, it can have significant impact on the net value of the payment, as it can reduce, or in some cases disqualif...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

Chancellor targets FOS modernisation and FCA consultation

Chancellor targets FOS modernisation and FCA consultation

Consultation part of the advice guidance boundary review

Isabel Baxter
clock 15 November 2024 • 3 min read
PFS turmoil continues as interim CEO Don MacIntyre exits

PFS turmoil continues as interim CEO Don MacIntyre exits

Organisation has been at loggerheads with CII

Jenna Brown
clock 05 November 2024 • 2 min read
Implications of the PRA's 2025 life insurance stress test

Implications of the PRA's 2025 life insurance stress test

A regulatory shift

Sheikh Yasir
clock 01 November 2024 • 4 min read