key person insurance

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

Look at other dictionaries:

  • key person insurance — UK US noun [U] ► INSURANCE BUSINESS LIFE AND HEALTH INSURANCE(Cf. ↑business life and health insurance): »Key person insurance is designed to protect a company from the loss of a person who makes a significant contribution to the financial success …   Financial and business terms

  • key-person insurance — UK US noun [uncountable] business an insurance policy intended to pay for replacing a worker who is very important to an organization Thesaurus: insuring and insurancehyponym types of tax and taxationhyponym …   Useful english dictionary

  • Key Person Insurance — A life insurance policy that a company purchases on a key executive s life. The company is the beneficiary of the plan and pays the insurance policy premiums. Also known as key man insurance , key woman insurance or business life insurance . Key… …   Investment dictionary

  • key-person insurance — Gen Mgt an insurance policy taken out to cover the costs of replacing a key employee. Key person insurance comes into play in the case of an employee’s mediumto long term sickness or death. Also known as key man insurance …   The ultimate business dictionary

  • key-person insurance — UK / US noun [uncountable] business an insurance policy intended to pay for replacing a worker who is very important to an organization …   English dictionary

  • key-person insurance — / ki: pɜ:s(ə)n ɪnˌʃυərəns/ noun an insurance policy taken out to cover the costs of replacing an employee who is particularly important to an organisation if he or she dies or is ill for a long time …   Dictionary of banking and finance

  • key-man insurance — Gen Mgt see key person insurance …   The ultimate business dictionary

  • insurance — in·sur·ance /in shu̇r əns, in ˌshu̇r / n 1: the action, process, or means of insuring or the state of being insured usu. against loss or damage by a contingent event (as death, fire, accident, or sickness) 2 a: the business of insuring persons or …   Law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.