What does Retirement Benefits mean? Read on to discover the definition & meaning of the term Retirement Benefits - to help you better understand the language used in insurance policies.
Retirement benefits are the money or other incentives that a person collects after their employment ends. The plan to receive them is put in place while the employee is still working, and a portion of their salary, along with a contribution from the employer, is collected periodically until their retirement.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Retirement Benefits. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: