Last Updated
：2025/12/04
key person insurance
（ plural ）
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(business) (insurance) 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.
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key person insurance
After the sudden loss of their founder, the board realized the value of key person insurance to stabilize the company's finances.
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After the sudden loss of their founder, the board realized the value of key person insurance to stabilize the company's finances.
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