Key Employee (key Person)
Definition of "Key employee (key person)"
Individual who possesses a unique ability essential to the continued success of a business firm. For example, this individual might have the technical knowledge necessary for research and development of products that keep the company at the cutting edge of its field. The death or disability of this key individual could severely handicap the company.
Popular Insurance Terms
Interest of a beneficiary in the proceeds of a survivorship annuity. ...
Life insurance policy under which all premiums have already been paid, with no further premium payment due. ...
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Exceptions and limitations of coverage; that is, the maximum amount of insurance coverage available under a policy. ...
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