What type of insurance covers income loss due to unexpected events?

Disability insurance is specifically designed to provide financial support in the event that an individual is unable to work due to a disability caused by an unexpected event, such as an accident or illness. This type of insurance offers a portion of the insured's income as a benefit during the period in which they are unable to earn a living due to their ongoing condition. The purpose of disability insurance is to help individuals maintain their financial stability and cover essential expenses when they can no longer generate income from their employment.

Other types of insurance mentioned, such as health insurance, focus on medical costs rather than income replacement. Property insurance protects against physical damage to assets but does not address loss of income. Liability insurance provides protection against claims for damages or injuries caused to others, which is unrelated to the insured’s income loss.