What type of financial support does income protection insurance offer?

Income protection insurance is designed to provide financial support to individuals who are unable to work due to illness or injury. This insurance offers temporary payments that serve as a replacement for lost income during the period when the policyholder is unable to perform their job duties. The intent is to ensure that individuals can maintain their standard of living and meet their financial obligations despite being unable to work. This type of coverage typically continues until the individual can return to work, or until the policy term ends, helping to alleviate the financial strain caused by unexpected circumstances that impact one's ability to earn an income.

The other options, while they represent important aspects of financial planning, do not encapsulate the primary function of income protection insurance. Medical expenses relate to healthcare costs rather than income replacement. Benefits in the event of death are associated with life insurance, and educational fee support typically falls under different types of financial assistance or scholarships that help with learning costs. Thus, the focus of income protection is specifically on providing temporary payments for those unable to work.