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Loss-of-Income Insurance |
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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 activites, 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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The most common loss-of-income insurance covers the loss of gross profits that result directly from a covered cause of loss. |
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