key person insurance

noun

An insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business.

Similar
key man insurance
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Meanings

nounkey person insurance (uncountable)
  1. uncountablebusinessAn insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business.

    Synonyms: key man insurance

Synonyms & antonyms

nounAn insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business.

Similar
key man insurance
Also see
key man insurance
Cite this entry
APA

key person insurance. (n.d.). In WatkinsX Dictionary. Retrieved November 5, 2026, from https://dictionary.watkinsx.com/word/key%20person%20insurance

MLA

“key person insurance.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/key%20person%20insurance. Accessed November 5, 2026.

Chicago

WatkinsX Dictionary, s.v. “key person insurance,” accessed November 5, 2026, https://dictionary.watkinsx.com/word/key%20person%20insurance.

Source: key person insurance on Wiktionary, CC BY-SA 4.0.