Loss-of-income insurance

(redirected from Loss of Income)

Loss-of-income insurance

Insurance coverage that will pay out income that a policyholder loses as a result of a disability, injury, or business disruption.

Loss-of-Income Insurance

Insurance that covers the interruption of a policyholder's business activities, whether in whole or in part. A policy may cover loss of income from the cessation of business activities due to an act of God, such as a tornado or a hurricane, or a foreseeable incident. Likewise, it may cover partial interruption of activities, such as a situation in which an employee's long-term injury results in a loss of production. Loss-of-income insurance may also refer to personal insurance providing income for a person's disability or long-term illness.
References in periodicals archive ?
Contract notice: Cnp - neuchatelois psychiatric centre - health insurance loss of income
Income Protection Insurance protects you against loss of income due to an accident, sickness or unemployment.
Norwood says he and his wife, Molly, won't be too compromised by the loss of income.
Employees need protection from premature loss of life or loss of income due to disability.
Adding loss of income and extra expenses coverage provides protection should the business be forced to suspend operations due to property damage, while receiving ongoing operating expenses incurred during the restoration of the business.
Where NZNO members who are assessors on an NZNO bargaining team are required to take leave without pay from their paid employment, NZNO shall reimburse the member for the loss of income, subject to the member providing evidence of their loss.
The drivers want a pay rise to compensate for loss of income caused by an EU directive limiting overtime.
To be eligible, applicants must demonstrate a loss of income not covered by paid sick leave or some other form of compensation arising from employment.
Smith could be awarded a variety of damages under the wrongful-death action, including for the loss of her relationship and the loss of income Whipple would have contributed to their household, according to the NCLR's Kate Kendell.
How would my loss of income and extra expense insurance respond to camp being shut down by order of civil authorities because of a disaster like the World Trade Center attack?
THE emergency closure of an important mountain pass has been blamed for a substantial loss of income at a busy crematorium.
The family is seeking reimbursement for more than $100,000 in medical expenses, as well as an unspecified amount for the parents' substantial loss of income and family emotional distress, pain and suffering.