Pensions Glossary - K

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K

K. Used alone, taken as an abbreviation for a thousand.

Keogh Plan. US private pension plan

Key Employee. An individual who makes a significant profit contribution to the business activity and profitability of a company, and whose loss would have an effect on the continued

Key Employee Insurance. Life assurance or PHI contracts, taken out by the company to help compensate the business for the loss through death or disability of the element of profit

Key Features Document. A document that will contain key information, such as: details of what the policy might be worth in future years. details and explanation of the charges made on the policy. an explanation of the purpose, type, and risk level of the policy

Know Your Client. Legal obligation on financial salespeople (such as PIA members and stockbrokers) to record all aspects of a client's personal financial situation and to ensure that all advice takes this into account. See Best Advice.