insured plan

noun

: a pension or retirement plan managed by an insurance company under which contributions are used to purchase life insurance or annuities as a means of funding the benefits promised

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Cite this Entry

“Insured plan.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/insured%20plan. Accessed 12 Jul. 2024.

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