What does Retirement Income Policy mean? Read on to discover the definition & meaning of the term Retirement Income Policy - to help you better understand the language used in insurance policies.
Retirement Income Policy
A life insurance policy providing for income during retirement age based on a percentage of the face amount for monthly income. This type of policy will have a cash value in excess of the face amount in later policy years so as to provide high death benefits or adequate retirement income.
We hope the you have a better understanding of the meaning of Retirement Income Policy.