Which type of insurance provides regular income in case the insured becomes disabled by illness or injury?

Disability income insurance is designed specifically to provide a regular income to individuals who are unable to work due to a disability resulting from an illness or injury. This type of insurance offers financial support by replacing a portion of the insured's income, ensuring that they can meet their living expenses during the period of disability. The primary purpose is to help individuals maintain their standard of living when they cannot earn a paycheck due to their health condition.

Health insurance, while it covers the medical expenses associated with illnesses or injuries, does not provide direct income support. Long-term care insurance is geared towards covering costs associated with long-term care services, such as nursing home care or home health care, but it does not pay for lost income. Life insurance pays a death benefit to beneficiaries upon the insured's death but does not offer benefits for disabilities during the insured's lifetime. Therefore, disability income insurance is uniquely suited for providing the income replacement needed in the event of a disabling condition.