Loss of income coverage

{
  "id": "MLC-T-INS-002077",
  "term": "Loss of income coverage",
  "field": "Insurance and risk management",
  "definition": "A type of insurance protection that compensates a policyholder for earnings lost due to a covered peril, such as a disability, property damage, or business interruption. For individuals, it replaces wages when they cannot work due to injury or illness. For businesses, it covers lost profits and continuing expenses when operations are suspended after a covered event.",
  "url": "https://mlchart.com/terminology/insurance/loss-of-income-coverage/"
}