A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Disability InsuranceCoverage that replaces part of your income if an injury or illness keeps you from working.
- Short-Term DisabilityInsurance that replaces a portion of your income for a few weeks or months while you recover from illness or injury.
- Long-Term DisabilityInsurance that replaces part of your income for years or until retirement if you cannot work due to a lasting condition.
- Long-Term Care InsuranceCoverage that helps pay for extended care like nursing homes or in-home help when you can no longer care for yourself.
- PremiumThe regular payment you make to keep an insurance policy active, usually billed monthly, quarterly, or yearly.
- Emergency FundCash set aside for life's surprises, so a bad week doesn't turn into debt.
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Plain-English education — not personalized legal, tax, or investment advice.