What is another word for key-person insurance?
Pronunciation: [kˈiːpˈɜːsən ɪnʃˈʊ͡əɹəns] (IPA) 
Key-person insurance, also known as key-man insurance or key-staff insurance, is a type of life insurance policy. It is designed to financially protect a company in the event of the unexpected death or disability of a key employee. The policy pays out a lump sum to the company, which can be used to cover the costs of replacing the key employee, such as hiring and training new staff. Other synonyms for key-person insurance include business continuity insurance, executive insurance, and human asset policy. Regardless of the name, this type of insurance is vital to the success and stability of any company that relies heavily on the expertise and contributions of key employees.
