insured plan

Definition of "insured plan"
  1. Describes a retirement or pension plan governed by an insurance company, where the contributions are channeled toward acquiring life insurance or annuities to fund the benefits that have been pledged
How to use "insured plan" in a sentence
  1. The company decided to switch to an insured plan to manage their employee benefits more effectively.
  2. In an insured plan, contributions from members are used to purchase life insurance or annuities to ensure benefits are covered.
  3. Researching various insured plans was a crucial part of her financial planning for retirement.

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