Loss Of Income Insurance
Definition of "Loss of income insurance"
Coverage in property insurance for an employee's lost income if a peril such as fire damages or destroys the place of employment, causing the worker to become unemployed. For example, a fire destroys a manufacturing plant, and as a result employees are placed on indefinite leave without pay. This coverage would then go into effect. In health insurance, loss of income benefits are paid when an insured becomes disabled and cannot work.
Popular Insurance Terms
Insurance policy for which the required premium has been paid. ...
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Roof used in construction that is composed of fire resistive materials such as slate as approved by the underwriters laboratories inc. (ul). ...
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