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 profitability of the business.

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 contributed by a key employee.

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.

Pensions.co.uk is part of a large network of financial sites created to help advise you on life events, such as buying a house (Mortgages.co.uk), insuring your car (Carinsurances.co.uk), your life (Lifeinsurance.co.uk) and your home (Homeinsurance.co.uk). Remember that your ISA allowance allows you to save upto £7000 each year tax free. Try 0800 ISAs portal to find some of the best options.

1998 - 2007 UK Pensions - Planning before, at the onset and during retirement - Pensions.co.uk