Key man

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Related to Key man: Key man insurance

Key man (or woman) insurance

A life insurance policy purchased by a company to insure the life of a key executive. The company is the beneficiary in case of the executive's death.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Key Employee

A very important employee. A key employee may have contacts highly beneficial to the company, may work hard and generate more revenue than any other employee, or may have some other skill that would be difficult or impossible to replicate in another employee. Often, but not always, a key employee is a manager. A company may purchase key person insurance to protect itself against the possibility that an employee may unexpectedly die or become unable to work, which would deprive the company of his/her skills.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
WALES (9/2) Coach: Warren Gatland Captain: Alun Wyn Jones Key man: George North Verdict: No.3 in the world, Wales have a genuine title chance with England and Ireland at home.
'Rashid Baloch alias Abdullah is not only the facilitator of the attack but also a key man of the BLA,' said DIG CTD Abdullah Sheikh.
Cap Coach: Steve McNamara Captain: Remi Casty Key man: Sam Tomkins Title odds: 16/1 Julie Stott's verdict: The feelgood story of last year, even though the RFL probably wouldn't agree after their Challenge Cup win cost them thousands.
Coach: Joe Schmidt Captain: Rory Best (below) Key man: Tadhg Furlong.
PREDICTION: 4TH MORTON GROUND: Cappielow MANAGER: Ray McKinnon LAST SEASON: 7th KEY MAN: Chris Millar TITLE ODDS: 20-1 McKinnon replaces Jim Duffy and has brought back Millar and Jim McAlister.
Key man: Birminghamborn Leon Clarke is playing the best football of his career, having notched nine times in his last four games, including two hat-tricks.
BIRMINGHAM Manager: Gary Rowett Position last season: 10th Nickname: Blues Ground: St Andrew's Capacity: 30,016 Players in: James Vaughan (Huddersfield, free), Jack Storer (Stevenage, undisclosed), Robert Tesche (N Forest, free) Players out: Mitch Hancox, Mark Duffy, Wes Thomas, David Edgar, Lee Novak, Neal Eardley (all released), Emmanuel Mbende (Chemnitzer, free) Key man: Clayton Donaldson Chances: After stabilising a sinking ship during his first season in charge Rowett laid some solid foundations on which to build in his first full campaign at the helm.
ABERYSTWYTH TOWN: Played 22 Won 7 Drawn 5 Lost 10 Goals For 32 Goals Against 37 Points 26 Key man: Craig Williams.
Texas law allows judges in its 254 counties to decide for themselves whether to have grand jurors chosen at random or selected by a key man - a method frequently used by judges in Austin, Dallas and Houston.
A business can use their key man polices the same way.
As a result you must think about the consequences if your key man dies unexpectedly or is acutely disabled and there is no ready successor.
BLUES COACH: Phil Davies CAPTAIN: Andries Pretorius KEY MAN: Leigh Halfpenny YOUNG GUN: Rhys Patchell LAST SEASON: Seventh VERDICT: Nothing much expected of the Blues under Phil Davies after mass playing departures.