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Workers' compensation insurance can provide compensation for all of the following, EXCEPT:

  1. lost vacation time

  2. medical expenses

  3. death

  4. lost income

The correct answer is: lost vacation time

Workers' compensation insurance can provide compensation for medical expenses, death, and lost income. However, it does not cover lost vacation time as it is not considered a valid reason for compensation. This is because vacation time is not directly tied to a work-related injury or illness. Therefore, option A is incorrect. Options B, C, and D are incorrect because they are all valid reasons for compensation covered by workers' compensation insurance. Medical expenses cover any necessary medical treatment related to a work injury or illness, death benefits provide financial support for dependents in case of a fatal work injury, and lost income covers wages or salary lost due to the inability to work because of a work-related injury or illness.