Key Person Insurance
Insurance placed on an important person in a business to indemnify the business for loss of profits, goodwill and the increased expenses of having to replace the individual in the event of death or disability.
This glossary is intended solely as an informal aid to understanding some terms commonly used in the sale of life insurance and annuity products. Definitions given do not modify or interpret the terms of any life, disability, or annuity contract issued by Northwestern Mutual.
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Copyright 2009, The Northwestern Mutual Life Insurance Company/Northwestern Mutual, Milwaukee, WI. All rights reserved. 720 East Wisconsin Avenue, Milwaukee, Wisconsin 53202-4797 - (414) 271-1444. The Northwestern Mutual Financial Network is a marketing name for the sales and distribution arm of The Northwestern Mutual Life Insurance Company, its affiliates and subsidiaries.