keyman insurance
(keyman life assurance/keyman insurance)
A life assurance policy taken out in respect of a key executive which provides the company with a cash cushion in the event of the death of that executive in circumstances where the ensuing management disruption caused by the death might be likely to affect the company's performance.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • Keyman Insurance — is an important form of [http://www.brainstation.com.my/index.php?option=com content task=view id=205 Itemid=106] . There is no legal definition for Keyman Insurance. In general, it can be described as an insurance policy taken out by a business… …   Wikipedia

  • keyman insurance — noun : insurance upon the life of a valuable employee naming the employing firm as beneficiary compare business life insurance * * * life insurance taken out by a business firm on an essential or very important employee, with the firm as… …   Useful english dictionary

  • keyman insurance — life insurance taken out by a business firm on an essential or very important employee, with the firm as beneficiary. * * * …   Universalium

  • keyman insurance policy — noun an insurance policy taken out by a company on a vital member of staff designed to recompense it for his or her loss of life …   Australian English dictionary

  • keyman life assurance — (keyman life assurance/keyman insurance) Also known as key person insurance or business life insurance. A life assurance policy taken out in respect of a key executive which provides the company with a cash cushion in the event of the death of… …   Law dictionary

  • business life insurance — See keyman life assurance/keyman insurance Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

  • key person insurance — See keyman life assurance/keyman insurance Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

  • Income tax in India — The Indian Income Tax department is governed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue under the Ministry of Finance.The government of India imposes an income tax on taxable income of individuals, Hindu …   Wikipedia

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