What is a life insurance policy paid for by the business and naming the company as beneficiary if the employee dies?
A) business interruption insurance
B) key person life insurance
C) professional liability insurance
D) fidelity insurance

Question

Quizplus · Accepted Answer

This is referring to a key person life insurance policy, which is taken out by a business and pays out to the company if the named employee (the "key person") dies. It is meant to offset the potential loss of income or other negative impacts on the business that would result from the employee's death.

What Is a Life Insurance Policy Paid for by the Business