HC Deb 21 July 2000 vol 354 c348W
Mr. Miller

To ask the Secretary of State for Social Security if he will list the circumstances in which his Department requires insurance companies to divulge redemption values of policies held by claimants. [132022]

Mr. Bayley

A person claiming an income-related benefit may be asked to provide evidence of the value of any capital asset. Depending on the type of asset this may be the face value, the market value or the surrender value. However, evidence would not normally be sought if it was clear that the value would be disregarded. For example, the surrender value of life insurance policies is fully disregarded. No evidence of surrender value would be needed in this case.