insured plan
- 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
- The company decided to switch to an insured plan to manage their employee benefits more effectively.
- In an insured plan, contributions from members are used to purchase life insurance or annuities to ensure benefits are covered.
- Researching various insured plans was a crucial part of her financial planning for retirement.
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