loss of income

Loss of income occurs when a person is unable to earn money they normally would, often due to injury, illness, or other unexpected events. It means missing out on wages or profits that support their living expenses or business operations. This financial setback can impact their ability to pay bills, save, or maintain their standard of living. Insurance claims or legal cases often address loss of income to help individuals recover financially from such disruptions. Essentially, it’s the financial gap created when regular earning capacity is reduced or halted temporarily or permanently.