What type of policy pays weekly or monthly benefits for loss of income due to sickness or injury?

The type of policy that pays weekly or monthly benefits for loss of income due to sickness or injury is a Disability Income policy. This kind of insurance is designed specifically to provide financial support to individuals who are unable to work due to a disabling condition, whether it's caused by an illness or an accident. The payments are intended to replace a portion of the insured's lost income, helping them manage their living expenses during their recovery period.

Disability Income policies focus on income replacement, rather than healthcare costs, which distinguishes them from other types of policies. For instance, a Medical Income policy, while it may sound relevant, typically pertains to covering medical expenses rather than directly compensating for lost income. Subcontractors Income and Death Benefit policies do not address loss of income from sickness or injury, as they serve distinctly different purposes in the realm of insurance.