Income Protection is a type of insurance offered by insurers to protect the clients against the loss of income and therefore the inability to continue to make payments for any loans in the event of accident, sickness or unemployment.
There are many names for Income Protection, some of these include Income Protection Insurance, Accident Sickness and Unemployment Insurance, Accident Sickness and Redundancy Insurance, Premium Protection Insurance, Mortgage Payment Protection, Mortgage Payment Insurance and Loan Protection Insurance.