key person


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Related to key person: Key Person Insurance
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According to research by Legal & General, 53 per cent of businesses would cease trading in under a year if a key person died or became critically ill.
Key person coverage is life insurance on a "key" employee, proprietor, or partner integral to ongoing operations of a business, explains Villarreal, who has been with New York Life Insurance for more than ten years.
Key person insurance can cover the costs resulting from loss of revenue, loss of intellectual capital, downtime, and the training and recruitment fees associated with replacing that individual.
It provides tailored life insurance solutions that protect SMEs against the death or critical illness of a key person by providing Key Person, Liability and Partner protection.
Key person insurance and an up-to-date and funded partnership agreement are just a couple of techniques to ensure business continuity after the loss or disability of an owner or key person.
Every time a key person life insurance policy is in place and the key person has retired and not remaining with the company; that policy becomes unnecessary.
Yet surveys show that most business owners aren't even aware that they can buy insurance to cover these exposures with products like business overhead expense policies, individual disability insurance (IDI), key person disability insurance, and disability overhead expense plans.
The 24 December events are surely the ones that shook the entire country and the key person in them was former president of the country and current leader of the largest opposition party SDSM, Mr.
Key Person Insurance: A life insurance policy placed on the life of an important person within a company.
It affects the ability to continue the business, and the ability to borrow money could be compromised if there's a death with a key person.
He was assigned key responsibility of training 10 selected cadres in Hindi and was perhaps the key person who briefed the 10 terrorists including Ajmal Kasab.
Hadi Nezir, Minister without Portfolio in Gruevs-ki's Government, is considered to be the key person in attracting Turkish investments to Macedonia.