Key man (or woman) insurance
Definition
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.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Managing underwriter
The leading firm in an underwriting group, which originates the deal and acts as an agent for the group.
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