Insurance covering your becoming disabled through sickness or accident up until retirement. The insurance pays a regular monthly amount.
Income protection insurance will provide you with a regular tax free income if you are unable to work due to illness or accident, resulting in a loss of earnings.
Insurance covering loss of up to 75% of income due to illness or injury. Generally payment is in the form of regular income payments, after a waiting period, while the member remains disabled. Payments may continue for life or cease after a set period.