keyman life assurance

keyman life assurance
(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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Look at other dictionaries:

  • keyman insurance — (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

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