Unlinked endowment policies belonging to the Adult, Individuals in the Household or the Family (Benefit Unit)

Dataset: Family Resources Survey (Adult, Individual, Family (Benefit Unit), Household)

Field: Unlinked endowment policies belonging to the Adult, Individuals in the Household or the Family (Benefit Unit)

Description

Whether the adult or individuals in a household or a family (benefit unit) have any unlinked endowment policies, as reported by FRS respondents, where:

All individuals who are aged 16 and over are classified as an adult, unless the individual is defined as a dependent child. All adults in the household are interviewed as part of the FRS.
A household consists of one person living alone or a group of people (not necessarily related) living at the same address, who share cooking facilities and share a living room or sitting room or dining area. A household will consist of one or more benefit units.
A family (benefit unit) may consist of: a single adult, or a married or cohabiting couple, plus any dependent children. Same-sex partners (civil partners and cohabitees) have been included in the same benefit unit since January 2006.
An unlinked endowment policy is taken out to repay a mortgage but no longer used to do so. This is where the mortgage has either been paid off or, more usually, converted to a different method of repayment. The respondent has decided to retain the endowment as an investment in its own right, even though it is no longer intended to repay the mortgage.

Classification

Applicable to: all adults or all individuals in a household or a family (benefit unit).

None
One or more
Not available
Not applicable

Total number of categories: 4

Quality Statement

Further information can be found in the FRS Background Note and Methodology here.