Key Features Document
A document containing key information on a financial product, such as its aims, commitment and risks involved, an explanation of the charges, what the policy might be worth in future years, as well as answers to some of the most common questions asked.
Key person insurance
A life assurance policy to cover the death of a business’s key employee. It pays out a lump sum that is designed to cover the costs of finding and training a replacement, as well as covering any loss of profitability.