Definition: The insurance 401(k) is a type of 401k plan that offers employees access to financial investment options through a company's retirement savings program. This allows employers to provide their employees with access to risk-free income, which can be used for retirement or other personal needs. The term 'insurance 401(k)' refers to the plan that provides insurance coverage for eligible employees who want to invest in a specific type of financial product (in this case, an investment fund) through a company's 401k plan. The employer pays for the investment, while the employee only gets paid back based on the investment performance. The definition of 'insurance 401(k)' is that it provides employees with access to risk-free income from investments made in a specific type of financial product (in this case, an investment fund) through a company's 401k plan. The employer pays for the investment, while the employee only gets paid back based on the investment performance. For example, if the company has a 401(k) plan that offers investments in stocks, bonds, and other securities, the employee can choose to invest their income into these types of financial products through their 401k plan. The employer pays for the investment, while the employee only gets paid back based on the investment performance. The term 'insurance 401(k)' is often used in the context of a specific type of 401k plan that provides employees with access to risk-free income through investments made in an investment fund, such as stocks, bonds, and other securities. The employer pays for the investment, while the employee only gets paid back based on the investment performance.