What type of insurance is specifically designed to cover the loss of income due to disability?

Disability insurance is specifically tailored to protect an individual’s income in the event of a disability that prevents them from working. This type of insurance typically provides policyholders with a portion of their income, ensuring they can cover their living expenses and maintain their standard of living while they are temporarily or permanently unable to perform their occupational duties due to illness or injury.

Health insurance primarily covers medical expenses related to illnesses and injuries but does not provide direct financial support for lost income. Property insurance focuses on protecting physical assets from risks like damage or theft and does not address income loss. Life insurance is designed to provide financial support to beneficiaries in the event of the policyholder's death but does not cover financial implications stemming from a disability.

Hence, disability insurance is the only option dedicated to income replacement for those who are unable to work due to a disabling condition.