TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

KEY EMPLOYEE ASSURANCE [1 record]

Record 1 2002-04-03

English

Subject field(s)
  • Insurance
DEF

Protection of a business firm against the financial loss caused by the death of or disablement of a vital member of a firm [or] of individuals possessing special managerial skill or experience.

DEF

Insurance policy protecting a small business or partnership against business losses from the death or disability of a principal owner. Lenders sometimes require partnerships or closely held corporations to take out such insurance naming the lender as loss payee before extending credit if they believe the loss of a key employee will hinder a firm's ability to repay a bank loan.

Key term(s)
  • key woman insurance
  • key employee insurance
  • key person assurance
  • key woman assurance
  • key employee assurance
  • key man assurance

French

Domaine(s)
  • Assurances
DEF

Assurance souscrite à son profit par une société ou un groupe sur la tête d'un collaborateur difficilement remplaçable, par exemple le chef de l'entreprise, en vue de faire face aux dépenses de réorganisation qu'entraînerait l'invalidité ou le décès de cette personne.

Spanish

Campo(s) temático(s)
  • Seguros
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