Key Person Insurance Law and Legal Definition
Key Person Insurance is life or disability insurance on one or more key persons whose loss or unavailability may result in a loss of profit, goodwill, or an increase in expenses. These insurance policies help finance the search and training of a successor, or compensate for fall in profits. It is also called key employee insurance.
Legal Definition list
Related Legal Terms
- Absent Person
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accidental Personal Injury
- Accommodation Line [Insurance]
- Accountable Personal Property
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actio Personalis Moritur Cum Persona
