Life insurance purchased by a company or investor on the life of a key executive....
Life insurance coverage designed to meet the needs of business owners, small businesses and professional practices.
Life insurance purchased by a business enterprise on the life of a member of the firm. It is often bought by partnerships to protect the surviving partners against loss caused by the death of a partner, or by a corporation to reimburse it for loss caused by the death of a key employee.
same as key person insurance
See Key Man Life Insurance.
A life insurance policy that is purchased for business rather than personal use. Examples would be life insurance purchased by a business organization on the life a key employee or life insurance owned by one business partner on the life of another.
See key person insurance.
Insurance purchased by a business on the life of a member of the firm. This insurance protects surviving business partners against loss caused by the death of a partner and reimburses corporations for loss caused by the death of a key employee.
Life insurance purchased for business purposes rather than for personal use. Examples are insurance owned by a business on the life of a key employee, and insurance owned by a business partner on the life of another partner.