Insurance protection
It is not to be confused with income protection insurance, which is not specific to a debt but covers any income. Additionally, the teachers receive a defined benefit pension, health insurance, life insurance, professional development reimbursement, personal days - 3, sick days, bereavement days 2, income protection insurance, and other benefits [Cambridge Dictionary].
A contract (insurance policy) in which the insurer (insurance company) agrees for a fee (insurance premiums) to pay the insured party all or a portion of any loss suffered by accident or death. The losses covered by the policy may include property damage or loss from an accident, fire, theft, or intentional harm; medical costs and lost earnings due to physical injury; long-term or permanent loss of physical capacity; claims by others due to the insured's alleged negligence (e.g., public liability auto insurance); loss of a ship and cargo; finding a defect in title to real property; dishonest employees; or the loss of someone's life. Life insurance may be on the life of a spouse, a child, one of several business partners, or an essential manager ("key man" insurance), all intended to provide for survivors or ease the burden created by the loss of a financial contributor. Almost all states and the federal government have enacted laws and set up agencies to protect the consumer (the retail purchasers of goods and services) from inferior, adulterated, hazardous, or deceptively advertised products and deceptive or fraudulent sales practices. Federal statutes and regulations govern mail fraud, healthy poultry and meat, misbranding and adulteration of food and cosmetics, truth in lending, false advertising, the soundness of banks, securities sales, standards of housing materials, flammable fabrics, and various business practices. Some states' laws regulate and give some protection against high-pressure door-to-door sales, false labeling, unsolicited merchandise, abusive collection practices, misleading advertising, referral, and promotional sales. Almost all states have agencies set up to actively protect the consumer[Law dictionary].
Insurance protection. Law dictionary. Retrieved from: https://dictionary.law.com/Default.aspx?typed=Insurance%20protection&type=1
Insurance Protection. Cambridge Dictionary. Retrieved from:https://dictionary.cambridge.org/dictionary/english/income-protection-insurance?q=Insurance+protection