Not all insurance payments affect your benefit. It depends on what you are getting the insurance for and what benefit or help you are getting from us.
Types of insurance payments you need to tell us about:
You need to tell us about:
- income replacement insurance - whether you are paid this weekly or as a lump sum. If you invest the money and earn interest, this will be counted as income and you have to tell us about it
- mortgage protection - only if you get Accommodation Supplement
- health and disability - only payments for general expenses while in hospital, not for medical expenses
- debt insurance - only if you get for Accommodation Supplement, Temporary Additional Support or Special Benefit
- loan protection insurance - only if payments are taken directly from your bank account (you don’t get to make payments) or if you get Temporary Additional Support or Special Benefit
- life insurance - only if you invest the money (includes a bonus or if you give up policy early)
- fire and general protection policies - only if you invest the money and earn interest, this will be counted as income and you have to tell us about it.
How to tell us
You need to contact us
If you need more information or want to discuss this in more detail contact us