income protection
Salary loss coverage
Income protection is insurance that replaces a portion of your earnings if illness or injury prevents you from working.
Unlike disability insurance, which may pay a lump sum, income protection typically provides ongoing monthly payments until you recover or reach retirement age: Her income protection policy covered 70% of her salary while she was recovering from surgery.
- sick payWages during illness
- paid leaveAbsence with continued wages
- emergency fundReserve for unexpected expenses
- rainy day fundMoney saved for emergencies
- financial cushionReserve funds for hardship
safety net · disability insurance · loss of earnings · severance package · accident insurance · employment law · unemployment insurance · workers' compensation · savings accounts · pension schemes · redundancy pay · retirement planning · annuities · trust funds · claims processing · reinsurance · peace of mind · investment portfolios
- financial safetyemergency fund, savings, safety net, insurance, nest egg
- money managementsaving, savings, budgeting, budget planning, expense tracking
- insuranceinsurance, coverage, auto insurance, life insurance, home insurance
- debt reliefdebt relief, debt forgiveness, debt settlement, debt cancellation, debt negotiation
- employee benefitshealth insurance, pension, 401k, 401(k), retirement
- health insurancepremium, deductible, copay, coverage, health insurance card
income protectionfinancial exposure
Potential for monetary loss
no safety net · financial risk · wage loss · financial hardship · living paycheck to paycheck
income protectionlife insurance
Contract paying upon death
death benefit · property insurance · health insurance · home insurance · car insurance
income, protection, come, coming, incoming, outcome, outcomes, protect, protects