Keyman / keywoman insurance


 

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Keyman / keywoman insurance

An insurance policy taken out on the life of a company executive or senior employee whose death would cause significant loss to the company. In the event of such a death the proceeds of the policy would be payable to the company.



Similar Matches

Letting insurance

Letting insurance

An insurance the landlord might take out to protect his or her possessions in the rented home.


Umbrella personal liability insurance

Umbrella personal liability insurance

In the US, liability insurance giving excess cover over and above that cover provided by other policies. For example if general policies give total liability insurance cover of $400,000, an umbrella policy could typically provide cover of $1 million. If a claim of $700,000 were made the umbrella policy would pay out only after the $400,000 has been first exhausted.


Mortgage payment protection insurance (MPPI)

Mortgage payment protection insurance (MPPI)

An MPPI policy pays your mortgage for you if you become unable to work for an extended period of time, as a result of redundancy, accident, sickness or disability. It should provide enough income to cover all your monthly mortgage expenses. If you have a repayment mortgage, this should be your capital and interest repayment and if you have an interest-only mortgage, the MPPI should cover your interest payment as well as your normal monthly contribution to the investment vehicle that will repay your loan.


Social Security Disability Income Insurance

Social Security Disability Income Insurance

Program financed by the Social Security tax to provide assistance to disabled individuals with disabilities expected to last at least one year, to compensate for lost income.


Insurance premium tax

Insurance premium tax

A tax imposed on certain insurance premiums where the risk is located in the UK.


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