In pension plans, one funded entirely through individual insurance contracts issued on the lives of participants. The insurance company products (annuities, retirement income endowment policies, etc.) provide any pre-retirement death benefits and the entire retirement benefit for the employee.

A group health care plan funding arrangement in which the group policy holder makes monthly premium payments to the organization that provides the health coverage, and the insurer bears the responsibility of guaranteeing claims payments.

A benefit plan, which is purchased by the employer for fixed monthly premiums paid to the insurance company who bears the risk.