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 ?
deposits / guarantees: registration in the commercial register or on a professional register, certificates with / without loss of income, insurance loss of income, tax and withholding tax, lpp, allowances family, unemployment insurance and accident insurance with a prior validity of a maximum of 3 months compared to the deadline for the submission of the offer.
Aberdeenshire Council had proposed a flat fee of PS250 to cover the loss of income of the three-day car park closure.
Virginia Code 8.01-52(2) permits wrongful death beneficiaries to recover for their "reasonably expected loss of income of the decedent," meaning what the beneficiaries reasonably expected and lost, not what the decedent would have earned.
Quake Assist provides business interruption insurance offering financial protection for loss of income and expenses due to an earthquake.
The judge allowed the counterclaim by the fish company by awarding it the money plus interest for loss of income for a period of nineteen months.
Some don't want to move because they worry about the loss of income,' he said.
A third of people say they wouldn't be able to recover quickly from an unexpected financial shock or loss of income, a new report reveals.
MILLIONS of adults in the UK don't feel they could cope with a sudden loss of income, a study claims.
In addition to a total loss of income to South Tyneside of PS7.2 million, the council has made PS1.75m in hardship payments for housing costs since the welfare reform agenda began in 2013.
The compensation was agreed on the basis of loss of income and the seriousness of the defamation.
"Although the monies stolen were comparatively small amounts, there is no insurance available to the Authority for the loss of income now while the machines are broken."
According to Prudential, employees who attend financial wellness programs learn about the risk of outliving one's assets in retirement, yet many of them underestimate three more immediate risks-loss of family income due to a premature death, loss of income due to illness or injury, and out-of-pocket health care and other expenses-which could cripple their financial outlook.