Which type of financial protection offers a lump sum or income benefit for accidents or illness?

The financial protection that offers a lump sum or income benefit specifically for accidents or illness is known as accident, sickness, and unemployment insurance. This type of insurance is designed to provide financial support when an individual is unable to work due to accidents or illnesses, thus ensuring they have a safety net during such challenging times. It typically pays out either a one-time lump sum or regular income payments, helping to cover living expenses and alleviate financial pressure when earnings are affected.

While life insurance offers a benefit upon the death of the insured, and critical illness cover provides a lump sum specifically for severe illnesses or conditions, they do not directly address ongoing financial needs arising from accidents or short-term illnesses. Income protection insurance primarily focuses on providing income replacement if someone is unable to work due to illness or injury, but it does not necessarily include benefits for unemployment. Therefore, the option emphasizing both accidents and illness along with potential unemployment support captures the essential features of the financial protection being queried.